MASTER LIMITED PARTNERSHIPS

Thursday, October 23, 2008

4 comments:

Anonymous said...: thanks joe

lou; 10/23/2008 7:29 PM
Anonymous said...: Monday Oct. 27 is the start date of the Fed's program to purchase 90day commercial paper.

Maybe any signs of success in thawing credit markets may spark a tradable rally(Armaggedon averted).

Never the less, any optimism (imho) has to be tempered by the reality that we are heading into a long and deep recession compounded by a severely damaged banking system.

A market bottom in a recession comes when bad news is so discounted by the market that the market no longer reacts to bad news. We are still reacting violently to bad news, so by that nmetric we are far (IMHO) to the "Market Bottom".

HS; 10/23/2008 9:21 PM
Anonymous said...: Ugly morning indeed.

Futures Limit down, the YEN with a 91 handle, Euro at 1.2571 against the dollar, Oil down 6% in pre-market, the Nikkei down 881 points to 7649, and Equity futures limit down. The DJ Stoxx50 is down 195.97 to 2030.91 as I type, about 8.8% lower. That is probably an indication where we heading... about 8.8% lower.

Opec "Cuts" production 1.5 million barrels a day... and oil is down 6%!

HS; 10/24/2008 7:35 AM
Anonymous said...: The CDS mess is snowballing at AIG, and probably other participants in that market.
Because the size of the market Dwarfs the Entire World's annual GNP by several times there may need to be be government intervention.

The 700 billion bank bail-out may well disappear down the CDS rat hole unless...drastic action is taken.

The US and other governments may need to sieze banks and insurance co's, divide them into a good bank - bad bank model, and recapitalize the good bank.

IE good bank part get all assetts and liabilities other than CDSs. The bad bank gets the CDSs, and a payment from the good bank equal to whatever the net asset value of the bank would be in a bankrupty.

In the end, we'll have a functioning banking system, CDSs holders ( and shorters ) may get .001% on the Dollar.

There may also need to be regulatory forebearence on corporate loans and that come up for renewal, and corporate bonds may need some sort of manditory roll over as well.

What a mess@

BTW: SPY, DIA are down 7.12$... QQQQ are down 6.53% as I type.

HS; 10/24/2008 8:22 AM

Subscribe to: Post Comments (Atom)