Market Observations 09/28/07
We've Nattered before as to how someone would make a killing scooping up high yield junk, MBS & ABCP at a discount...
As banks court buyers for more than $300 billion of debt they pledged to finance takeovers.
Citigroup Inc., Credit Suisse Group and Deutsche Bank AG already have reduced prices on loans by as much as 4% to get them off their books.
Oaktree Capital Management LP, BlackRock Inc. and Eaton Vance Corp. are raising funds to purchase leveraged-buyout loans that banks are selling at a loss.
Michael Hennessy at Morgan Creek Capital : "Banks overextended themselves and there is enormous opportunity. There was a credit bubble and now it's burst."
SP500, open 1531, rise 1533, fall 1521, close 1526. NDX open 2096, rise 2101, then fade 2091.
$ index & vs Euro at an all time low, resulting in commodities having their largest monthly rise in 32 years. Can you say stagflation? I can.
Yesterday: "Make it NDX 2121 by Oct 3rd." Monday expect Quarter beginning inflows to bump the market up.
And then? Perhaps a pull back? We anticipate major resistance at DJIA 14K & SP500 1550.
September acted the opposite of the stock traders almanac. Perhaps the anticipated year end Santa rally will be diametric as well.
We don't anticipate any large pivotal movements until Oct 31st. The Nattering One is taking a much needed VACATION until Oct 10th.
Till then, keep it tween the ditches. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
As banks court buyers for more than $300 billion of debt they pledged to finance takeovers.
Citigroup Inc., Credit Suisse Group and Deutsche Bank AG already have reduced prices on loans by as much as 4% to get them off their books.
Oaktree Capital Management LP, BlackRock Inc. and Eaton Vance Corp. are raising funds to purchase leveraged-buyout loans that banks are selling at a loss.
Michael Hennessy at Morgan Creek Capital : "Banks overextended themselves and there is enormous opportunity. There was a credit bubble and now it's burst."
SP500, open 1531, rise 1533, fall 1521, close 1526. NDX open 2096, rise 2101, then fade 2091.
$ index & vs Euro at an all time low, resulting in commodities having their largest monthly rise in 32 years. Can you say stagflation? I can.
Yesterday: "Make it NDX 2121 by Oct 3rd." Monday expect Quarter beginning inflows to bump the market up.
And then? Perhaps a pull back? We anticipate major resistance at DJIA 14K & SP500 1550.
September acted the opposite of the stock traders almanac. Perhaps the anticipated year end Santa rally will be diametric as well.
We don't anticipate any large pivotal movements until Oct 31st. The Nattering One is taking a much needed VACATION until Oct 10th.
Till then, keep it tween the ditches. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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