Thursday, August 23, 2007

Market Recap

A seesaw day in the equity market with the Dow and S&P flat while the Nasdaq was down 0.4%. Oil was the best performing sector while transports lagged. SHRP ALOT GME AVGN LNDC EGI HRT TIS BSM were among the days biggest gainers. SLI FLML CCBL NWY PLCE ARGN were among the days biggest losers.

Is the Fed rate cut in September a sure thing ? Maybe not according to this piece. A rate cut would kill the US Dollar and thrust gold and silver upwards.

Mortgage woes soon to be history ? Not so fast. It is estimated that it will take roughly $150 billion to $250 billion of new capital to "normalize pricing" in the mortgage market.

Betting against Amazon will cost you. Ken Heebner learns the hard way.Just for the record I am short AMZN. It will work out in a big way eventually.

Commerical paper appears to be the new focus of the credit squeeze.The inability to sell commerical paper is having an adverse effect on many companies like Coventree for example. Investors have lost their appetite for commercial debt and the reprecussions will be huge.

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