Yet, DOW was up 401 points.. Well, there is no point in trying to reason the market moments.
Investors have withdrawn about 43 Bn from hedge funds in the month of Sept, in a month the market was down about 6%. I wonder what the number would be in Oct when the market is down 17% MTD. Citadel( $15 Bn Assets Under management, down ~30% YTD) and Highland Capital ($14 Bn Assets Under Management), two big hedge funds, are unwinding the positions at firesale prices, though Citadel denied it as a rumor. I guess, the redemptions from hedge funds would be more than 50Bn atleast for the month of Sept, and the selling spree from the hedge funds would continue, pushing the stocks even lower. Gold dropping $50 in three minutes and comments from the veteran are indicative that commodites are not spared either and that its a massive sell-off action thats driving the markets. Watch for DOW heading to 7500 in this month or the next!
Update on BDI (Baltic Dry Index): Last time I mentioned it, it was at 2764, and today its at 1506 - the lowest since 2002.
Banks and dealers’ overall direct borrowings from the Fed averaged a record $437.53 billion per day in the week ended October 15, topping the previous week’s $420.16 billion per day. During the week ended Oct 1st, the figure was about 370 Bn. THis should be a good indicator in predicting the initial signs of a recovery in credit markets/economy - A lower figure is a sign of banks starting to trust each other and start lending over night money to the other banks..
Well, another unfinished post..I wasted most of my post office time chatting with Harish and Sammie, and in watching some dumb movie.. I added just one paragraph on markets post office hours!!Well, No regrets.. !!
Today I spoke with a friend of mine, after a very long time.. almost 11 years. It felt so good talking to him, and made me forget all the "bitter sweet" crap thats going on. He was my junior in HPS.. now got married and working as a Field Manager sort of job in hyd. One thing that was strikingly different betwen him and me was that he was 'HAPPY'. Well, I am not saying that I lead a SAD life, but his happiness was different.. a "SECURED", "UNCONDITIONAL" happiness that you can flaunt only when you are living among 'YOUR' poeple. Damn!! I miss India!! I wish I were THERE!!
After all these many years you expect the other person to have changed.. But he didnt, not even a single bit, at least he didnt make me realize that he did. .. .. Me, when I talk to my undergrad classmates or schoolmates, the first thing they say is that I have changed (not in a bad way though). The way I talk, the way I hold myself back from being hyperactive, the way I selectively choose sentenses as I speak, the was I keep silent when I have nothing to say. Even my mails to people are "formal". Fuck.. the corporate experience and MBA has made me diplomatic,,.. and that is something I dont want myself to be!!
Good night.. enough of introspective crap!! Come tomw, and I shall be back to normal again..
Song: "I am the highway" - Audio Slave
Mood: Gloomy
Banks and dealers’ overall direct borrowings from the Fed averaged a record $437.53 billion per day in the week ended October 15, topping the previous week’s $420.16 billion per day. During the week ended Oct 1st, the figure was about 370 Bn. THis should be a good indicator in predicting the initial signs of a recovery in credit markets/economy - A lower figure is a sign of banks starting to trust each other and start lending over night money to the other banks..
Well, another unfinished post..I wasted most of my post office time chatting with Harish and Sammie, and in watching some dumb movie.. I added just one paragraph on markets post office hours!!Well, No regrets.. !!
Today I spoke with a friend of mine, after a very long time.. almost 11 years. It felt so good talking to him, and made me forget all the "bitter sweet" crap thats going on. He was my junior in HPS.. now got married and working as a Field Manager sort of job in hyd. One thing that was strikingly different betwen him and me was that he was 'HAPPY'. Well, I am not saying that I lead a SAD life, but his happiness was different.. a "SECURED", "UNCONDITIONAL" happiness that you can flaunt only when you are living among 'YOUR' poeple. Damn!! I miss India!! I wish I were THERE!!
After all these many years you expect the other person to have changed.. But he didnt, not even a single bit, at least he didnt make me realize that he did. .. .. Me, when I talk to my undergrad classmates or schoolmates, the first thing they say is that I have changed (not in a bad way though). The way I talk, the way I hold myself back from being hyperactive, the way I selectively choose sentenses as I speak, the was I keep silent when I have nothing to say. Even my mails to people are "formal". Fuck.. the corporate experience and MBA has made me diplomatic,,.. and that is something I dont want myself to be!!
Good night.. enough of introspective crap!! Come tomw, and I shall be back to normal again..
Song: "I am the highway" - Audio Slave
Mood: Gloomy
No comments:
Post a Comment