华新 - BIG news: U.S. Stock-Index Futures Rally After Fed Cuts Discount Rate

BIG news: U.S. Stock-Index Futures Rally After Fed Cuts Discount Ratehttp://www.bloomberg.com/apps/news?pid=20601084&sid=afpy1dOEj.Kc&refer=stocks
[牛魔王 (8-17 20:52, Long long ago)] [ 传统版 | sForum ][登录后回复]1楼

dow今夜要大冲。恭喜今天进货的同学。[牛魔王 (8-17 20:58, Long long ago)] [ 传统版 | sForum ][登录后回复]2楼

I stare at it from -124 --->+185I couldn't believe my eyes.[xiaohu (8-17 20:59, Long long ago)] [ 传统版 | sForum ][登录后回复]3楼

(引用牛魔王:dow今夜要大冲。恭喜今天进货的同学。)未必[doublex (8-17 21:08, Long long ago)] [ 传统版 | sForum ][登录后回复]4楼

(引用 xiaohu:I stare at it from -124 --->+185I couldn't believe my eyes.)现在的时刻，股市真的很戏剧。。。开眼界了。[念奴娇 (8-17 21:10, Long long ago)] [ 传统版 | sForum ][登录后回复]5楼

尽管我高兴,但却觉着FED此举不妥.[bigapple (8-17 21:36, Long long ago)] [ 传统版 | sForum ][登录后回复]6楼

(引用牛魔王:dow今夜要大冲。恭喜今天进货的同学。)空头回补会大大拉高这阳线的。单针探低+Gap up,今天OE,疯狂的逼空在今天展开！Fed教训了一下猖狂的空头。机构出货套现应付挤兑是无可厚非的，但是空头乘机捣乱就是反政府反人民了，而且还不知道套利收手。[xiaohu (8-17 21:42, Long long ago)] [ 传统版 | sForum ][登录后回复]7楼

(引用 bigapple:尽管我高兴,但却觉着FED此举不妥.)说明事态已经非常严重了，Feb 能够救几次？
难道向日本学习，降到0%？ [GoldMan (8-17 22:23, Long long ago)] [ 传统版 | sForum ][登录后回复]8楼

老道要收高200点才对得起Fed[forpc (8-18 0:11, Long long ago)] [ 传统版 | sForum ][登录后回复]9楼

刚才没有看到此帖，呵呵~被你抢先了。
你在发帖的时候，我收到消息了。
不过正在close一个deal.
=）
所以没有发．[雨茜 (8-18 0:55, Long long ago)] [ 传统版 | sForum ][登录后回复]10楼

(引用 forpc:老道要收高200点才对得起Fed)233[ghorse (8-18 7:00, Long long ago)] [ 传统版 | sForum ][登录后回复]11楼

Sentinel Management Files for Chapter 11 Bankruptcy之前就说不让他贱卖他的资产，现在他就直接干脆file for bankcruptcy了。

都是这次暴风雨遭的。不过本人对这些fund manager采取不同情态度。他们不把保护资产的安全放在第一位马？

Aug. 17 (Bloomberg) -- Sentinel Management Group Inc., a cash-management firm which froze client withdrawals three days ago, filed for bankruptcy after a judge sought to block it from selling assets to hedge fund company Citadel Investment Group LLC.

Sentinel, a Northbrook, Illinois-based firm that oversees $1.6 billion, stopped the withdrawals Aug. 14, causing brokers Farr Financial Inc. and Velocity Futures LP to sue.

Farr claimed the freeze blocked access to client funds. Velocity, joining the suit today, sought to keep its own clients' assets from being sold to Citadel because the assets are being sold at a 15 percent discount. The assets may have already been sold, lawyers for both sides told U.S. District Judge Ronald Guzman today in Chicago federal court.

``Sentinel's representations to the court were that the deal was done, with perhaps only $10 million to $15 million that hadn't been transferred,'' Matthew Crowl, a lawyer representing Velocity, said in an interview. ``You'd think that they'd be in great shape if they had this huge influx of cash.''

The Chapter 11 bankruptcy filing, which Sentinel said will allow it to restructure its debt, lists both assets and liabilities in excess of $100 million.

Sentinel froze withdrawals after saying turmoil in the credit markets made it impossible to trade without incurring losses. The threats of legal action from the firm's clients may foreshadow a flurry of lawsuits across the industry, as asset managers battered by market declines are forced to unload holdings at fire-sale prices.

Terry Moritz, a lawyer representing Sentinel, didn't immediately return a call or an e-mail seeking comment after business hours.

To contact the reporter on this story: Joel Rosenblatt in San Francisco at jrosenblatt@blooomberg.net .

[speculatist (8-18 11:06, Long long ago)] [ 传统版 | sForum ][登录后回复]12楼

haha 很多Traders' vacation was disturbed this time:P<z from bloomberg>Retracted Memos, Canceled Vacations: Fed Cut Shocks (Update1)

By Caroline Salas

Aug. 17 (Bloomberg) -- RBS Greenwich Capital Markets strategist Kenneth Hackel sent a note to investors from his Greenwich, Connecticut, office at 8 a.m. saying he saw ``few signs that the distress has abated'' in risky asset classes.

Less than an hour later, Hackel sent another: ``Fed action wipes out our earlier message.''

The Federal Reserve's 8:15 a.m. announcement that it cut the discount rate today took traders by surprise, sending futures on the Standard & Poor's 500 Index up 3.6 percent in 46 seconds and erasing a 0.4 percent decline. Two-year U.S. Treasury notes fell after the announcement before reversing course as traders tried to figure out the implications of the Fed's move.

``I just had no clue'' it would happen, said Marilyn Cohen, who manages $250 million in fixed-income at Envision Capital Management in Los Angeles. ``It was a great surprise. My question is: Are we all having fun yet?''

The S&P 500 surged as much as 2.8 percent, after tumbling 9.1 percent through yesterday from a July 19 record on concerns losses on mortgages will hurt bank earnings and cause borrowing costs to rise. Yields on three-month bills climbed as much as 23 basis points, or 0.23 percentage point, in the hour and 15 minutes after the Fed announcement, before paring the increase.

``I was thinking about taking one or two days off, but I don't even think I'll do that,'' Cohen said. ``There's much too much volatility. I always bring my laptop with me, but if I am always connected, that's not much of a vacation.''

`Ease the Pain'

The main measure of U.S. stock volatility declined after reaching a four-year high yesterday.

``When I was shaving this morning, the S&P futures were down about a percent -- this turned everything around,'' said Doug Peta, market strategist at J&W Seligman & Co. in New York, which oversees about $20 billion. ``People in the marketplace just want to ease the pain. Trading floors were delighted.''

The Fed said today it is prepared to take action to ``mitigate'' damage to the economy from the subprime-mortgage collapse, which has been roiling global markets for the past two months.

``There was stunned silence,'' said Asif Godall, head of high-yield credit trading at HSBC Holdings Plc in London. ``No one thought they would act quite so quickly.''

The Fed's announcement from Washington cut the rate at which it makes direct loans to banks by 0.5 percentage point to 5.75 percent and dropped language indicating a bias toward fighting inflation.

`Really a Drag'

``I've been in this business a long time and 99 percent of the time it's a lot of fun, but the last couple of months it's been really a drag,'' said E. Craig Coats Jr., co-head of fixed income at Keefe, Bruyette & Woods Inc., who has been in the bond business since 1969.

``It's very, very hard to make money,'' Coats said in an interview from his New York office. ``Your clients are in bad situations and they're unhappy and it's difficult.''

Coats held the same position at Salomon Brothers in the 1980s, when it was the world's biggest bond trader.

High-yield, high-risk bonds lost 3.1 percent in July, their worst monthly performance since 2002 as concerns about subprime mortgages and an onslaught of debt to finance leveraged buyouts drove down prices, according to Merrill Lynch & Co. index data. Junk bonds lost another 0.25 percent in August as of yesterday, heading for three consecutive months of negative returns.

High-yield, or junk, bonds are those rated below Baa3 by Moody's Investors Service and BBB- by S&P.

`The Longest Week'

``The big thing that needed to be addressed was psychology: There's plenty of liquidity, but people just weren't willing to lend money out,'' said Coats. ``I do think we're turning the ship around here. The Fed's in the game and getting serious about helping things and making things work.''

Credit-default swaps on the CDX North America Investment- Grade Index, a benchmark for the cost of protecting investment- grade bonds, dropped as much as 6 basis points to 72 basis points in New York after rising earlier today to 81 basis points, according to Deutsche Bank AG. Credit-default swaps fall as confidence improves.

``You have no idea how good it feels to see a little bit of green,'' said Thomas Garcia, head of trading at Thornburg Investment Management in Santa Fe, New Mexico. ``This has been the longest week since I can remember.''

To contact the reporter on this story: Caroline Salas in New York at
[speculatist (8-18 11:24, Long long ago)] [ 传统版 | sForum ][登录后回复]13楼

(引用 speculatist:Sentinel Management Files for Chapter 11 Bankruptcy之前就说不让他贱卖他的资产，现在他就直接干脆file for bankcruptcy了。都是这�...)that is the fatal risk on mutual fund:1. do you know what business they are doing? are fact sheet and prospectus sufficient?
i dun think so.

2. do you know what they actually do? do they really follow their investment priciple?
i dun think so either.

3. when tumoil appears, how do they protect the capital? simply stop trading? but how long? if things turn even severe, funds will lose the control, as shown in spec's post.

thus, for funds investment, we have to study the first 2 points as much as possible. besides, study the track record to make sure, in the largest possible extent, that they are not 'gambling' too much.

more important, actively manage your portforlio even though funds manager manages for you. but they are still your 'employee'. as a 'boss', we have to be responsible for our own money. hence, in any event, react earlier, at least earlier than the time when courts freeze the funds. [banban (8-18 12:07, Long long ago)] [ 传统版 | sForum ][登录后回复]14楼

(引用 banban:that is the fatal risk on mutual fund:1. do you know what business they are doing? are fact sheet and prospectus sufficient? ...)没必要这种风险的fund一般都是hedge fund, 而不是mutual fund。一般小的投资人根本没机会参与hedge fund，因为他的要求是机构投资者或者Hight net worth (1M USD or 100K USD annual income).

mutual fund 也不是没有出过问题，不过因为监管条例和机制很强，颇能保护小的投资者。所以你的提议只对hedge fund investor 适用，对这边９９％的人不适合。

[box (8-18 12:22, Long long ago)] [ 传统版 | sForum ][登录后回复]15楼