STOCK MARKET WATCH -- Wednesday, 7 November 2012

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Wednesday, 7 November 2012[font color=black][/font]

SMW for 6 November 2012

AT THE CLOSING BELL ON 6 November 2012
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Dow Jones 13,245.68 +133.24 (1.02%)
S&P 500 1,428.39 +11.13 (0.79%)
Nasdaq 3,011.93 +12.27 (0.41%)


[font color=red]10 Year 1.75% +0.04 (2.34%)
30 Year 2.92% +0.02 (0.69%) [font color=black]


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[font size=2]Market Conditions During Trading Hours[/font]
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .



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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]

[Tansy_Gold]

1. Nope, no 'toon today

Unless I find one early in the morning and plug it in.

So now the lame duck term begins and we'll see what happens. Warren is in, so maybe that will change things. Grayson is back, Akin and Mourdock are out, Duckworth beat the dead beat (as someone said on a drive by thread). Dems keep the senate, pukes keep the house.

And we've still got SMW. . . .

[Demeter]

2. and a little bit more

[Egalitarian Thug]

3. It doesn't take much to see that the problems of one little forum don't amount to a hill of beans

in this crazy world. Someday you'll understand that.

[bread_and_roses]

22. eh? wot?

Who is the "you" in that post, just out of curiosity? Since for four years I've found the most comprehensive, in-depth, and wide-reaching understanding of international, national, financial, and broad "zeitgeist" issues in SMW and WE, I'm rather at a loss to follow your post?

[tclambert]

31. Ilsa. (Never mind. He's on a roll.)

He's quoting, or misquoting or paraphrasing Casablanca. "Ilsa, I'm no good at being noble, but it doesn't take much to see that the problems of three little people don't amount to a hill of beans in this crazy world. Someday you'll understand that."

"Of all the threads in all the websites in all the internet, she posts on mine."

[bread_and_roses]

37. Ah - when it comes to "the movies"

I freely admit I'm about 12 - maybe 14. I can't watch "Casablanka" - find it as slow and boring as all the other old movies. So I thank you for the illumination.

[Egalitarian Thug]

43. This looks like the beginning of a beautiful friendship. n/t

[AnneD]

53. I came to this thread for my health...

I came for the waters.

She said as she wondered if she should watch the movie for the untold number of times.

[Egalitarian Thug]

67. You can never watch Casablanca too many times.

It's one of those films that is both great and definitive of the genre and era.

[Ghost Dog]

4. What happens now?

By Golem XIV on November 5, 2012 in Austerity, Bail-outs, debts, fire sale, latest, mark to market, mark to model

In part one of this series I suggested that the simple reason we were bailing out the banks and simultaneously cutting public spending was because,

If the banks were to be wound up it is their (the wealthiest 10%'s) credit/debt backed ‘money and the assets held in it, which would burn to ash….So the simple reason our rulers insist on bailing out the banks is that by doing so the wealthy and the powerful are simply bailing out themselves and guaranteeing the continuation of a system which suits them perfectly.

In part two I argued that while the simple selfishness answer is true there are also theoretical justifications (albeit flawed ones) for the bail and cut policy.

The two aspects of their policy ‘bail and cut’, they will insist are not contradictory at all. Simply put, they will say they are loosening or increasing the money supply (QE) in order to invest in growth (classic Keynesian) while simultaneously cutting those expenditures which they feel do not generate growth and which are in fact ‘drains’ on productivity – in their view any ‘public’ expenditure (Classic Free-market). Growth, for them, equals the free-market/private sector, while drains on growth equal government, public spending….Basically – Private Debt good, Public Debt bad.

I argued that one of the legion problems with this world view is the fact that whatever the ideology says should happen, the reality is that giving money to the banks for them to invest has simply not worked. It was never going to work because it is founded on a misapprehension about the nature and business of modern banks. Namely – that they invest for growth. They do not – certainly not in the broader economy during a recession. Banks used to ‘invest’. Today they much prefer to speculate. Investing is long and slow and does not make big bonuses. Speculating on food prices, currency fluctuations and sovereign debt, lending for leveraged, debt ladened buy-outs - now these things can all provide the quick returns and big bonuses which old fashioned investment does not.

The idea that ‘we are all in this together’ coupled with the other idea that the banks are there to help – or are ‘there for the journey’ as a UK bank advert claims, is wishful thinking at best. These notions may make snappy sound bites but that is all they make. Banks are not there to help. They are NOT a service industry. Banks exist to make a profit as fast and as often as possible for those who own them and large bonuses for those who run them. Which is fine. They are a business. As long as we remember that and treat them accordingly I have no problem. I have a massive problem when, in the good times, the banks insist on being recognized as a business in the free market, to be treated with a laissez faire, light touch. But then in bad times insist even more fervently that they are not just a business to be allowed to live and die by the rules of the market like any other business, but claim instead to be an essential, – no, THE essential public service which must be protected above all else. So essential, in fact, that all ‘other’ public services must be cut in in order to better save the banks.

Let’s be clear the banks are not a public service. Banking – rather than the banks – could be a public service, but it is not run as such today. The banks are run as ruthless businesses. They exist according to an almost entirely selfish philosophy which extends from how they imagine human nature to be – no one, they think, would even turn up for work let alone do a good job unless rewarded more than anyone else – to justifying any and all fraud on the basis that if it makes a profit then who could blame you for trying. Be that as it may…

In part three I suggested that the official policy with its armature of ideological justifications and soundbite explanations was today’s Big Lie and looked at how and why Big Lies work.

In this last part, having looked at the origin and ideological justifications for the ‘bail the banks and cut everything else’ policy, I want to look at where the policy goes now. Because I believe the policies of the last four years have brought us to a critical and unstable juncture.

From crisis to opportunity - The top of the hill

For the last four years our Dear Leaders, political and financial, have been labouring to push everything back up the hill from which it slipped. As they have neared the top, however, I think they have come to see that the policies they have forced upon us can do much more for them than simply restore what they had before. Why stop there, they now wonder? The top of a hill is a place of fantastic opportunity. l think our leaders have come to see that shoved hard in the ‘right’ direction they could propell our societies in almost any direction they desired.

But this state of potential is also perilous. The top of a hill is the place and the moment when the forces are all finely balanced and almost any ‘unauthorized’ push could send the system off in a direction the Dear Leaders would not like. Victory for the powerful and wealthy seems so close at hand and yet the crisis, far from being over, is also at its most critical juncture. So many possibilities exist together, like overlaid quantum states, in this one moment...

/More at source: http://www.golemxiv.co.uk/2012/11/why-are-we-bailing-out-the-banks-part-four-what-happens-now/

[Demeter]

6. In other words, it's all downhill from here for the banks

They have no public support (other than that gained at the point of an economic gun), and their abuses have earned them the Bad Guy spot.

[Ghost Dog]

5. Markets Cheer Obama's Victory

Asian stock markets rose broadly on Wednesday after incumbent U.S. President Barack Obama defeated Republican challenger Mitt Romney to win a second term defying the undertow of a slow-growth recovery and high unemployment. The re-election meant a continuation of easy monetary policy that would trigger more capital inflows into emerging markets...

/... http://www.rttnews.com/story.aspx?Id=1999915

European stocks rallied early on Wednesday as the re-election of U.S. President Barack Obama fuelled expectation the Federal Reserve's loose monetary policy will continue.

Banking stocks were among the biggest gainers after France's BNP Paribas pleased investors with forecast-beating quarterly earnings. BNP was up 4.7 percent, Societe Generale up 2.7 percent and Credit Agricole up 1.6 percent.

At 0900 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,119.38 points, after hitting a two-week high of 1,120.30.

Despite Obama's victory, the balance of power in the U.S. Congress stayed mostly unchanged, keeping intact the risk of a standoff in the "fiscal cliff" talks.

If a deal is not reach, about $600 billion in spending cuts and tax increases are set to be automatically triggered at the end of the year, which investors fear will derail the U.S. recovery.

/... http://www.reuters.com/article/2012/11/07/markets-europe-stocks-idUSL5E8M74Z520121107?rpc=401

[Warpy]

29. They're diving now

probably because of GOP alarmists who really buy into that "Obama is a socialist who will destroy Wall Street" crapola. I fully expect a blood bath today followed by a recovery as soon as they all sober up.

[Demeter]

33. It's a nice dream, though--Below 13K!

About damn time.

Hey, he's got nothing to lose now--maybe the O man will turn his Predator Drones on Jamie Dimon and friends....go after the banking mafia.

[Demeter]

7. I survived the polls

1. I managed to dress properly (neither freezing nor boiling, in layers, and not in sweats, so the look was solidly middle class if dowdy, semi-professional)

2. We were on the job from 6 am to midnight (for me and one other, who took the ballots city hall; the rest went home at 11:20) There were 9 of us at one polling place. We did not have any down time, except lunch and dinner. I didn't dare leave for those...so I nuked and ate while supervising. The advantages of voting in the cafeteria...

3. The tabulating machine amazingly sorted the write-ins from the pack correctly. This is the first time that has ever happened since the machines went on line, in my experience. HOWEVER, the machine was temperamental, and did not count three ballots during the initial tabulation, which meant we had to run nearly 800 ballots through it again after the polls were closed.

4. We managed to cope with the setbacks and bobbles. It was a good team, even though half were brand new at this. (Talk about your baptism by fire)

5. It's much better when I'm in charge. Really. No big errors, no confusion, no problems with the public, etc. No amateurism. No drama. Just dull, steady progress towards the goal.

[Tansy_Gold]

8. Get ready. . . .

http://www.democraticunderground.com/1251230217

[Demeter]

13. You are pure evil, TG

When I get some sleep, I'll tell all ABOUT THE official Challenger from the GOP.

It's pathetic,

[Tansy_Gold]

17. I was taught to respond to compliments by simply saying

Thank you very much. I appreciate that.

[AnneD]

54. The last guy that was quoted as saying that....

ended up dieing on the toilet.

[Tansy_Gold]

56. ??

I was sincere. I took being called pure evil by Demeter to be a compliment, so I thanked her.

Besides, it was an inside joke. I had PMed her about getting ready for the 2016 Campaign to start today and she screamed

[font size=60] NOOOOOOOOOOOO!!!!!!!!

[AnneD]

60. I was thinking of....

the late great Elvis, thank you very much.

Edited to add...I know your mischevious sense of humor, you cheeky little monkey.

[Tansy_Gold]

61. Never liked Elvis, so that one

went right over my pointed little head!

[xchrom]

9. Democrat Tammy Baldwin is first openly gay senator

http://www.rediff.com/news/report/democrat-tammy-baldwin-is-first-openly-gay-senator/20121107.htm



Wisconsin Democratic Representative Tammy Baldwin has become the first openly gay United States senator, defeating former Governor Tommy Thompson in the most expensive senate race in state history.

"I am honored and humbled and grateful, and I am ready to get to work -- ready to stand with Barack Obama [ Images ], and ready to fight for Wisconsin's middle class," Baldwin said to raucous cheers at her victory party.

Even during his four-way GOP primary race, Thompson was long considered the frontrunner.

He was a popular governor in the state who later served as President George W Bush's [ Images ] health and human services secretary and enjoyed high name-recognition in the state.


***this is especially sweet for me -- rahm didn't like her.

[Demeter]

14. Rahm doesn't like anybody--and the Feeling is Mutual!

[xchrom]

15. ...

[AnneD]

55. We have gone from black and white...

to all the colors of the rainbow. I guess we aren't in Kansas anymore.

[xchrom]

10. Storm-lashed New York, New Jersey scramble as weather threatens

http://www.reuters.com/article/2012/11/07/us-storm-sandy-hurricane-idUSBRE89N16J20121107

(Reuters) - Storm-battered New York and New Jersey ordered the evacuation of some areas devastated by deadly Superstorm Sandy as strong wind, rain and sleet threatened to lash the region on Wednesday, closing parks and beaches and halting outside construction work.

The looming bad weather has New York and New Jersey on edge again as the U.S. Northeast struggles to recover from former hurricane Sandy, which killed at least 120 in the United States and Canada when it struck on October 29 as a rare hybrid storm.

New York City has ordered the evacuation of some low-lying hard-hit areas, including the Rockaways section of Queens and the south shore of Staten Island - home to nearly half of the 40 people killed in New York City by Sandy - while residents of at least two New Jersey towns have also been told to leave.

Outside construction in New York will stop at noon and parks and beaches will also close then for 24 hours.

[westerebus]

11. Glad that's over with.

Let the letters of resignation begin. Not that much will change policy wise, I'm just wanting some new faces on Dancing with the Deficits.

[xchrom]

12. the resignations are going to be interesting. nt

[westerebus]

18. Timmy can collect his bonus.

There's got to be a dozen Board of Directors that will suit him.

Somebody please take AG Holder. Take him anywhere, but the SCOTUS.

I think Madame Secretary is opening a club on Ibiza.

[xchrom]

19. i'd have to keep my hand from slapping timmy if i ever had half a chance. nt

[Demeter]

20. Hands? I'd have to keep my feet from doing a field goal

[xchrom]

21. ...

[siligut]

51. ...

[IMG][/IMG]

[xchrom]

62. !!!

[westerebus]

23. You can just feel the love.

For the weekend, Ronny's second term and tax hikes or why now is not a good time to buy a used car.

[Demeter]

36. Can you elaborate?

I need a theme for the Weekend, which is also Euchre night Friday...

you can PM if you'd rather.

[westerebus]

64. As odd as it seems.

Ronny Raygun came in on the middle part of a pretty good recession with promises of a turn around and no new taxes in his first term, the parallels are just there for the gleaning, soothsaying and interpretation of what we may see from the current resident of the Whitehouse going into his second term.

Given all things being equal with the split in Congress, a less than enthusiastic re-election, popular vote vice electoral college gamesmanship, current hot wars aka the middle east uprisings, a fair part of the global economy still bogged down, and such and so forth; what came from the second term of Saint Ron the beloved light upon yonder city's hilltop were a slew of taxes and a sparse amount of regulation.

Least of all, the second term brings its own bit of drama in the impeachment zone of full court politics.

The intersection of what if and what happen the last go round might be grist for the mill.

Up to you.

[AnneD]

57. Or at least ...

tap dancing up his schweng schweng, and that is pretty had to do in cowboy boots.

[Demeter]

35. Bloomberg Worried About Tim Geithner’s Ability To Put Food On The Table

http://dealbreaker.com/2012/11/bloomberg-worried-about-tim-geithners-ability-to-put-food-on-the-table/

As you may have heard, because you’ve read the reports reports or picked up on the Morse code message he’s blinked out during every appearance on CNBC or he threw himself on the hood of your car and screamed “Get me outta here” the last time you drove up to the Treasury building, Tim Geithner is ready to say good-bye to Washington. Has been for some time, in fact, but previous requests to go home were all denied. Now that his bosses are supposedly going to allow him to leave in the event Obama is reelected, many are wondering what will be next for TG. Despite having spent the majority of his career in public service and giving the impression that he has no desire to work for Wall Street, Bloomberg is thinking that with the albatross that is his unsellable Larchmont house around his neck, a family, and college tuition to pay, Geithner may not have a choice.

The years in public service — particularly engaging in diplomacy with domestic and foreign partners — left a deep impression on Geithner, infusing him with a sense of purpose that he might find lacking on Wall Street…Yet the years in civil servitude have also left Geithner in need of a better salary. Geithner is one of the least wealthy men to head the Treasury Department in recent years. He took more than a 50 percent pay cut to assume the job. His $199,700 salary is higher than the $174,000 earned by most members of Congress. His pay has been increased by $8,400 in three years, yet his net worth pales next to such predecessors as Hank Paulson and Bob Rubin. With two mortgages and two college-age children, the lure of private-sector money could be hard to resist. BlackRock’s Fink, for instance, received $23.8 million in salary and stock in 2011, making him No. 1 in the Finance 50, Bloomberg Markets’ annual ranking of the best-paid CEOs at the largest U.S. financial companies.

Other ideas Bloomberg has for ways Geithner can make ends meet that he’s already said no to include writing a memoir. He “publicly ruled out” doing so in September, but they’re pretty sure he’ll reconsider after the guy he hired to patch up his roof tells him the whole thing needs to be replaced.

[Tansy_Gold]

47. replacements?

http://www.democraticunderground.com/10021755457#post1

[AnneD]

58. My first choice has always been Elizabeth Warren...

but I her she just got a new day job.

[xchrom]

63. You & miss Demeter - baddest bad ass cabinet ever! Nt

[xchrom]

16. Exxon tells Iraq wants to quit huge oil project

http://www.reuters.com/article/2012/11/07/us-iraq-exxon-idUSBRE8A60Y420121107

(Reuters) - Exxon Mobil (XOM.N) has officially informed Iraq's government it wants to pull out of a $50 billion oil project, telling Baghdad in a letter it has started talks with other oil companies to sell its stake, senior Iraqi officials said.

Exxon's decision to quit the West Qurna-1 oilfield will exacerbate tensions between Baghdad and the autonomous Iraqi Kurdistan region, where Exxon has signed oil deals seen as more lucrative but dismissed by the central government as illegal.

Kurdistan has upset Baghdad by signing deals with foreign companies including Exxon, Chevron (CVX.N) and Total (TOTF.PA). Kurdish officials say that right is enshrined in the constitution.

But Baghdad says only the central government can control oil policy.

[xchrom]

24. News Corp profits up threefold on NDS sale

http://www.bbc.co.uk/news/business-20225209

Rupert Murdoch's News Corp has reported a sharp rise in profits thanks to a one-off asset sale and strong revenue growth at its cable networks division.

Net profit for the three months to the end of September was $2.3bn (£1.4bn), almost three times the $786m the company made a year earlier.

Total revenue rose 2% to $8.14bn, which included $1.38bn from the sale of pay-TV encryption company NDS.

Boosted by advertising sales, cable networks' revenue grew 16% to $2.45bn.

[xchrom]

25. EU: EUROZONE RECESSION TO BE WORSE, REBOUND SLOWER

http://hosted.ap.org/dynamic/stories/E/EU_EUROPE_ECONOMY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-11-07-08-33-05

BRUSSELS (AP) -- Europe's economy is still reeling and unemployment could remain high for years in spite of the progress made in solving the debt crisis, the European Union warned Wednesday as it downgraded its forecasts for the 27-country bloc.

The European Commission, the executive arm of the EU, on Wednesday revised its forecast for the economy of the entire region, saying that it now expected gross domestic product to contract by 0.3 percent on an annual basis this year, rather than remaining flat as it predicted in the spring. It also said that the 17 countries that use the euro will contract, with GDP falling 0.4 percent, against a previous expectation of a 0.3 percent fall.

But the most significant downgrades are for next year's forecasts. The commission had expected the eurozone to find its footing in 2013, with 1 percent growth. Now it predicts only a 0.1 percent uptick. For all 27 countries in the EU, it forecasts 0.4 percent growth, compared with 1.3 percent last spring.

The report also suggests that unemployment won't start falling until 2014 - and then only slightly.

[xchrom]

26. Eurozone will struggle to return to growth next year, commission predicts

http://www.guardian.co.uk/world/2012/nov/07/eurozone-growth-next-year-ec


Olli Rehn, the economic and monetary affairs commissioner. Photograph: Georges Gobet/AFP/Getty Images

The eurozone will struggle to emerge from a double-dip recession next year as deep budget cuts stifle growth, the European commission has said.

In a gloomy health check on the state of the 17 countries that belong to the monetary union, Brussels said a sharper than expected fall in output in 2012 would be followed by a virtually non-existent recovery in 2013.

The commission said the eurozone as a whole would contract by 0.4% this year and grow by 0.1% in 2013. It cut its forecasts for the single currency's "big four" economies – Germany, France, Italy and Spain – as it predicted that unemployment would rise to a fresh peak of 11.8% next year.

"Europe is going through a difficult process of macroeconomic rebalancing, which will still last for some time," said the economic and monetary affairs commissioner, Olli Rehn. "Europe must continue to combine sound fiscal policies with structural reforms to create the conditions for sustainable growth to bring unemployment down from the current unacceptably high levels."

[xchrom]

27. Shell says still interested in Libya oil exploration

http://www.guardian.co.uk/business/feedarticle/10519015

VIENNA (Reuters) - Royal Dutch Shell said on Wednesday that it remained interested in oil and gas exploration opportunities in Libya after abandoning drilling in two blocks earlier this year.
Shell told Reuters in May that it planned to exit from the LNGDA and area 89 after disappointing results, prompting concerns that the OPEC country would struggle to reach future production targets.
"That was just a project exit. We did not exit Libya," said Nureddin Wefati, head of media relations for Shell's upstream activities, at the North Africa Oil and Gas Summit.
"We are very interested in other upstream activities and we have an ongoing dialogue with Libyan officials," he said, adding that the company would likely bid in the next licensing round.

[mahatmakanejeeves]

28. Stocks plunge one day after Obama reelection

Sorry, gang; back to work.

Stocks plunge one day after Obama reelection

Adam Shell and Matt Krantz, USA TODAY
9:33AM EST November 7. 2012 -

NEW YORK — U.S. stocks opened sharply lower Wednesday following the re-election of President Obama. Within minutes of the opening bell, the Dow Jones industrial average was down more than 150 points.

Investors' initial reaction seems negative to the defeat of the more business-friendly Mitt Romney and the continued gridlock in Congress that will make it tougher for lawmakers to avert a fiscal policy crisis by year-end.

Key stock indexes were down more than 1% as the market opened in the U.S.

[DemReadingDU]

30. DOW down -244, n/t

[mahatmakanejeeves]

32. All red at 11:08 a.m.:

http://finance.yahoo.com/quotes/hpq,f,csco,fb,txn,crus,swks,qcom,nok,glw,ddaif,bac,cmi,de,cat,ir,qqq,aapl,%5Edji,ge,caj,armh,aa,pfe,goog,rimm,wab,gwr,%5Eixic

[DemReadingDU]

34. Interesting stock quotes

Are those stocks the biggest losers today, or companies that you follow?

[mahatmakanejeeves]

42. Stocks that I follow, for one reason or another.

Just because you see them mentioned doesn't mean that I plan to own them someday, though I do own a few of them. They are usually on that list because they were in the news at one time or another. Admittedly, I am watching a few with an eye on ownership.

Disclaimer: if my stockpicking talents are so great, then why am I in a cubicle?

[Hotler]

44. mmmmmmm yea, we're going to need you to come in Saturday........

so could you be here around 9:00, that would be great. oh......and we're going to need you to come in on sunday also. We lost some people and we're behind on TPS reports mmmmmmm Thanks

[AnneD]

59. You've been missing a lot of work Peter....

Well Bob, I haven't been missing it.

[Demeter]

38. The Market is Down Because the Dollar is sky high?

Ditto for gold. Oil is the outlier...does that mean war--or just freedom to speculate?

[Hugin]

39. You'd think if a Strong Dollar was the cause crude would be sinking.

We're being punished.

[Demeter]

40. That's a foolish way to "punish" the US

In the first place, the People won't get the message.

In the second place, the stock market is international. Little People aren't in the mix anymore, of any nation.

Thirdly, it may bring down a bankster (the horror!)

Looks like the 12.9K line will hold (why does WWI come to mind?

http://en.wikipedia.org/wiki/Maginot_Line )

[Ghost Dog]

45. Gridlock -> Fiscal Cliff.

... "There will be an immediate shift to government gridlock and the fiscal cliff issue, and that will be a headwind for stocks," said Michael Yoshikami, chief executive officer and founder of Destination Wealth Management in Walnut Creek, California.

The fiscal cliff is a $600 billion package of automatic tax increases and spending cuts, scheduled to take effect at the end of 2012, that could severely strain economic growth.

Obama is expected to demand tax increases for the wealthy as part of a deal to reduce spending to tackle the nation's deficit. Many investors thought that Romney as president-elect would have had a smoother time in negotiations.

/... http://uk.reuters.com/article/2012/11/07/uk-usa-campaign-markets-idUKBRE8A60W120121107

And This:

The euro zone economy will barely grow next year but pick up in 2014, the European Commission said on Wednesday, forecasting slower growth than governments in all the bloc's biggest economies expect.

The European Union's executive Commission said the 17 countries sharing the euro would grow only 0.1 percent in 2013 after a bigger than previously forecast 0.4 percent contraction this year as a result of the sovereign debt crisis.

Growth is predicted to rebound to 1.4 percent in 2014 as structural reforms now under way start bearing fruit...

... The Commission said 2012 would be weaker than expected because the sovereign debt crisis took a turn for the worse and markets began worrying that the euro zone might disintegrate, at least until the European Central Bank changed the terms of the game.

/... http://uk.reuters.com/article/2012/11/07/uk-eu-forecasts-idUKBRE8A61BH20121107

[Demeter]

48. It's their own damn fault

[siligut]

52. CNBC is all over the impending fiscal cliff

Saying that the cooperation to prevent it will take compromise . . . meaning EXTEND THE BUSH TAX CUTS OR ELSE.

[kickysnana]

41. MN Legislature went Blue last night. Yippee!

If I could have dragged 4000 more people to the polls "up nord" we would have been rid of Batshit crazy Bachmann.

One of my cousins in Faribault, another red area was "stunned" by the election.

[Demeter]

49. Congrats! You done good

[Roland99]

46. Consumer credit jumps again in September

http://www.marketwatch.com/story/consumer-credit-jumps-again-in-september-2012-11-07?link=MW_home_latest_news

U.S. consumers increased their debt in September by a seasonally adjusted $11.4 billion, the second straight strong gain, the Federal Reserve reported Wednesday. The increase in September was stronger than the roughly $10 billion gain expected by Wall Street economists. The gain in August consumer credit was revised up slightly to $18.3 billion increase from the initial estimate of $18.1 billion. For the third quarter, consumer credit increased at a 4% annual rate. As in the prior month, the increase in September credit came from a jump in non-revolving debt such as auto loans, personal loans and student loans. These loans experienced a $14.3 billion jump in September after a $14.1 billion gain in the prior month. Analysts said that student loans, now captured under the federal government subcomponent, are driving credit higher. Credit-card debt fell by $2.9 billion in the month after a $4.3 billion increase in August.

[jtuck004]

50. If 5 million people showed up at the docks and

refused to let any more Chinese goods land , kept anything that wasn't bringing raw materials or tourists off of the East coast - basically embarked us on a successful course of rebuilding manufacturing, etc.

Ignoring the technical and financial hurdles, and the loss to our token exporting businesses, what is the best we could hope for?

People want to "bring manufacturing back" but who needs anything we have that they can't get elsewhere? (Anyone?) Aside from military gear, maybe cheaper gas and coal at which we excel, we buy more than we sell to China, and China has facilities and agreements in many countries. Our big industry that supplied the world taught them to fish, and I can think of not much that they have to have from us. (On the other hand we are terribly dependent on them for food. Hope they don't get together and figure that out).

So would it boil down to manufacturing and selling refrigerators and some high-priced medicine to each other? Without govt investment in R&D we aren't likely to see anything of real significance that helps 311 million people (oops, add one, friend just sent a sonogram) thrive in the vacuum left by the departure of the way they used to live. Now they are talking about cuts in a country that survives on growth, not much different from shooting people, just slower.

People got mean, got agitated before FDR came in and the country started investing in them. I wonder if that will happen or if they will just go quietly today...

[SnakeEyes]

65. Let it tank

I couldn't care less now that we won the election. F Wall Street.

[Tansy_Gold]

66. Your sentiments are

MOST welcome here!