Seemingly, selling interest is BIG. Every recovery attempt is met with more than enough supply. And now we got the “GO AHEAD” from Helicopter Ben. He expects weak markets to continue. The investors say, Ok Ben … if you say so
Merill numbers were not too negative, but market took it still negative as still […]

Situation:
U.S. Markets: Volatile session closing down. Not much to say. 2nd day we closed below 1391, which is the breakout mark out of a possible broadening top in the S&P. Waiting for today’s Bernanke speech and some results.
Asian Markets: Japan stocks climb as Dollar tries to recover on ECB comments, which were interpreted as “dovish”. […]

Situation:
U.S. Markets: Ended the week down up to 2% despite BoA taking over Countrywide Financial. Over the weekend speculation about new capital inflow for financial institutions from SWFs. Chinese and Arab buyers lining up, especially for Citibank and Merill Lynch. (pls. read my posts here) and here Rumours fly about the possible write offs, […]

How many times will they be able to repeat that?
Every quarter a new investor … OMG
This time, the FT reports, it will be 14(!!!) bln$ fresh money and the estimates for the write offs are skyrocketing … up to 20bln$ is the guess as it is up to 15bln$ for Merill.
Citibank, they say, will […]

Here we go …
- Bank of America buys Countrywide Financial in a stock deal for 4 bln$.
- JP Morgan is rumoured to snap up Washington Mutual or somebody else. CNBC says, they want to do something!
- Buffett is said to consider buying a troubled bond insurer.
Ok, we used to see Asian and Arab money buying […]

NY Times has a story, that Merill Lynch will have to take Q4 write offs of around 15(!!!) bln $ … just double of expectations …
AXP takes surprisingly another charge and trades down close to 8% … showing, that subprime really spills over now.
As I mentioned yesterday, the BoA story is NOT positive at first […]

Exactly the moment, I really wanted to throw the towel … as I was really convinced that there is no more honesty in the U.S. …
THERE COMES … John Mack … really not the first I would have thought of … BUT … HE DECLINES TAKING A BONUS!!! Congrats to Morgan Stanley!!! My vote goes […]

Situation:
U.S. Markets: consolidating all day … last 30 mins down … Nasdaq after close further down on AAPL … MER up on new CEO … he led before his job as CEO of NYSE the mortgage business at Goldman
Asian Markets: cautiously consolidating …
Currencies/Commodities: Yen losing further ground against the Euro, now corrected around […]