Wednesday, March 14, 2007


Its been a rough day across Asia . Its not any better in Europe either.

US current account deficit shrinks on lower oil prices and a cheaper dollar.

Lehman net rises and their mortgage risk is hedged through a credit-default swap index. I'd like to know who the seller of the swap is . In other words, who is holding the bag ?

General Motors finally profitable but misses estimates on mortgage losses. No surprise here since, GM is heavily exposed to the mortgage industry, through their GMAC finance unit.

Treasury Secretary Paulson believes economy is healthy and housing has bottomed.

We could be in for a rough day especially if the Dow 11,973 level does not hold. The futures are indicating a lower open. If the above mentioned level holds, we could get a strong bounce and a nice rally into the close.

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