Swing Trade

Local shares are down, Asia is down.
Dubai World really shook things up today (after their world wide spending spree)

On Wednesday I sold my Vodacom shares (they went up on some news about a collaboration of sorts with Tellumat). So I’m completly out of the markets right now.

I’m banking, not shorting (but I am looking into it) on the markets right now. So you’ll find me sitting on the sidelines waiting for the big fall!
And yes, I’m sure they’re going to hit the deck again.

Think, the world has just had a MAJOR depression, mega food lines in New York, Wankers, sorry I mean Bankers are still dishing out Million Dollar bonuses to one another (oh and good job England (hands clapping allround) you’re going to name the people who get the bonus’s – BIG help to the economy).
So the world economy IMO is still in the shitter.
They were lieing to us then and they’re more than likely still lying / sugar coating / hiding the truth right now!

Dont forget to read: On Tuesday it was revealed that the Bank of England had granted close to £62 billion in emergency assistance to the two failing Edinburgh banks between October and 2008 and January 2009. However it chose to keep the loans secret.

Now, TARP’s $700 Billion bailout… it really doesn’t inspire much confidence for me. Think back a little… what caused the subprime lending problem?
Oh wait! “The money is created by the Federal Reserve/Treasury and lent to the institutions needing a rescue. The Fed/Treasury gets back IOUs from the institutions.”

So… Who owns America’s debt?

Americas Debt

I believe we are going full circle, ‘things’ are being hidden from the people and it’s going to end in a big mess (again).
And when it does, I’m going to buy back into the markets and let it build up again. Note that I won’t be swinging those trades round for a while though!! (note to self: find new website name

Yes, China and India are looking up, but I’ve yet to have an good in-depth look into their markets.
Have a profitable day!

So CIT has filed for Bankruptcy (the largest firm to go bankrupt after getting a federal bailout). The TARP loan (bailout) was to the tune of $2.3 bn, so the US Government loses all that and CIT sharholders get wiped out.
Charming!!

Needless to say bank stocks are down!
The Rand has since recovered to 7.90.

Being a pessimist, I’m waiting for markets to go over the falls again.

The rand went into freefall briefly on Monday morning.

RMB Currency strategists said that following the worst day for Wall Street in months on Friday, US small business lender CIT filed for bankruptcy over the weekend in what was one of the largest corporate failures in history.

“The US dollar/rand spiked immediately to 8.25 as trade opened in Asia on Monday – but this was a massive overreaction and we should come into regular trade at around 7.90 this [Monday] morning.

“Indeed, trade up at the highs was very brief and illiquid and the scope for getting any orders filled was almost non existent,” RMB said.
Still, the spike showed just how nervous markets were – and how the rand was an obvious victim, RMB said.
“Now, it’s all about global risk appetite.

“The fear really is that the global recovery will not have any legs and we will slip back into a W-shaped recession,” RMB said. This, it said, would ultimately be signalled by the data going into next year.
“For now the nervous markets will react strongly to any data signalling confidence and consumer intentions.”

Source: Busrep.co.za