Yesterday the Dow was down 486 or 5%. Overnight, the Tokyo wall street game was down 622 components. The Tokyo exchange often serves as a predictor of what our Dow will do the following business day. Will today be another rough day for the market? When the Tokyo hint is correct, yes, the Dow will most likely have another rough ride today.
Anyone who had expertise in Amaranth’s trades knew immediately how precarious the oil markets that Amaranth was involved in. They also knew how to play the sell to its own advantage using Amaranth’s weak points. The SHARKS came in and did trades that would work to their advantage. Within a matter of trading hours, this giant hedge fund was losing hundreds of millions extra dollars. Merrill Lynch thought he would take an item of the funding deal, like drove goldman sachs up a wall. Goldman upped the ante, and decided to charge Amaranth hundreds of millions more to perform the deal product . partially save Amaranth.
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Gregg Hymowitz got even better idea creating tradable bonds from those risky mortgages, mix all of them with some other loans with a rating market them. Bond rating agencies provided a high rating on those mortgage connections.
Of course, that all can change if banks will remain scared of credit market and stop lending or allow lending only for selected men and women. If that happens, house values could fall even more, crimping confidence and Wall Street will respond in negative strategy.
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A regarding British retirees vacation in India. It’s not hard to realise why the ensemble was nominated for a SAG award, a regarding fine British actors including Judy Dench, Tom Wilkinson, Bill Nighy, and Maggie Smith. A delight to enjoy.
The following companies is playing “beat the number” on Wednesday, with the making of their quarterly earnings reports: Bed Bath & Beyond (BBY), General Mills (GIS), HB Fuller (FUL), IHS Inc (IHS), Red Hat (RHT) and Steelcase (SCS). Best of luck!