why do you think it will be likely green? the market half rallied friday because of discount window rumors, and those turned out to be false. so if there is no good news odds are market will be down at least 2%
As I see it there are two ways of looking at it. The points of control and current price action can indicate ES longs gained support off of the previous low after two prior consolidation resistence levels at 1253.75, is in its fourth corrective wave and price is consolidating again to break to the upside for a final rally; or, possibly, the fifth wave on the bounce from 25 failed to throw-over a very strong third wave channel, as you point out, a move made based on allegedly false news. If there are two things I've learned trading and following political and economic spin is that price action and the markets don't lie and what's spun past the bell before the weekend is fodder for manic traders to fuel momentum against their gains. I'll be long after a pullback to as close to 37 as I can Sunday 16:00 EST.
will you have spent enough time on this site this weekend? its called a life- you should try and get one.. jeez you are one sorry ass
Fannie, Freddie Are in `Sound Situation,' Dodd Says (Update1) By Justin Blum July 13 (Bloomberg) -- Fannie Mae and Freddie Mac, the largest providers of U.S. mortgage financing, are in a ``sound situation,'' said Senator Christopher Dodd. ``They have more than adequate capital, in fact more than the law requires,'' Dodd, a Connecticut Democrat who is chairman of the Senate Banking Committee, said on CNN's ``Late Edition'' today. ``They have access to capital markets. They're in good shape.'' The two companies' shares reached the lowest level in more than 17 years on July 11, making it tougher for them to raise capital at a time when they account for about 80 percent of mortgages packaged into bonds. A failure of the companies would likely send mortgage rates higher, causing further declines in home sales and prices. The U.S. government during the next few days will be ``exercising a lot of different options that it has available to ensure that they don't get into a financial situation where they can't cover their obligations,'' Senator Jon Kyl, a Republican from Arizona who is a member of the Senate Finance Committee, said on the CNN program. Fannie Mae and Freddie Mac own or guarantee about half the $12 trillion in U.S. home loans outstanding. Democratic presidential candidate Barack Obama left open the possibility that the Federal government won't need to take any steps to aid Fannie Mae and Freddie Mac, saying it needs to watch the evolving situation before making a decision. ``I think we need to watch carefully to see how it plays out before we make a decision about which steps need to be taken, if any,'' Obama, 46, said aboard his campaign plane from Chicago to San Diego late Saturday. It was the first time Obama, an Illinois senator, addressed concerns over the stability of the two companies. --- that says nothing to me In fact I didn't like the CEO skirting around the issue when he merely said they had more capital than ever before, which does not address the issue.
``They have more than adequate capital, in fact more than the law requires,'' Dodd, a Connecticut Democrat who is chairman of the Senate Banking Committee, said on CNN's ``Late Edition'' today. ``They have access to capital markets. They're in good shape.'' blah blah. the law requires are you kidding? They wrote the laws, that doesn't make it sufficient.
yeah no uncertainty. I mean I have a home listed $100k under its "market price" and can't get an offer. but theres no uncertainty. GM, fannie and freddie are all staring down insolvency. AAA holdings not six years ago. but hey theres no "uncertainty". wake up and get a clue.