7 replies to this topic

[A-ha]

megalodon is not only a shark name... get out now...

Edited by A-ha, 05 November 2007 - 12:29 PM.

[Drano]

Isn't that a dinosaur? Attila, thanks for all your posts here.

Edited by Drano, 05 November 2007 - 12:34 PM.

[A-ha]

This is a crash pattern... observed on all crashes in the history of the stock market... this is sector specific but now entering the sweet spot ...it will pull entire market... nothing can stand ... GET OUT

Edited by A-ha, 05 November 2007 - 12:42 PM.

[atlasshrugged]

This is a crash pattern... observed on all crashes in the history of the stock market... this is sector specific but now entering the sweet spot ...it will pull entire market... nothing can stand ... GET OUT

After listening to Bill Gross this morning, i believe he said that as much as 40 to 60 billion in writeoffs will be incurred by the banks by the time all is said and done. Rates will go to 1% squeezing margins...etc

i wouldnt touch these with my Ex's money!

[NAV]

I will have to disagree with you on this call. All crashes in history have one prerequisite i.e a parabolic move accompanied by Euphoria. None of the broader indices in the U.S or the banking sector which you are referring to has gone parabolic. Euphoria in U.S - what's that ?? I am more concerned about a crash in the emerging markets, which are veritable parabolas, with some scary euphoric sentiment.

[eminimee]

Banks will be taking writedowns over the next year...not all at once....bkx will chop for the next 6 months up to 110 area and will decide then if we break a neckline or not to head to 72 ish.

This bank situation is perfect for a bear trap.

http://stockcharts.com/c-sc/sc?s=$BKX&p=M&yr=9&mn=6&dy=0&i=p62065924892&a=75610474&r=5490.png

[arbman]

If all the banks are forced to tell everything RIGHT now, yes there is no justification for any valuation BECAUSE a lot of their debt paper is not worth anything. BUT, if they can stop this panic for a moment and some people start bidding 50c for the dollar, then you would have a dramatic change. The idea of the Fed is to give the borrowers enough time to readjust and salvage whatever loans they can... SO, do the bankers have enough time to sit and think?

[underabigw]

Atilla, Thanks so much for keeping us posted on what the flux-capacitor sees! UBW