Bollinger Band Algorithms
Submitted by Tyler Durden on 08/13/2009 - 15:04
Someone really hitting the brakes with the Bollinger Band ceiling today. (Yeah, we agree it's stupid voodoo. Don't shoot the messenger). That's what happens when algos run amock on no volume and nobody will pile in except on down moves. In a word - about as pathetic trading as it gets.
CMBS Bankrutpcy-Remoteness Issues Escalating
Submitted by Tyler Durden on 08/13/2009 - 14:17The recent ruling in the GGP bankruptcy case may open the door for a vast universe of structured CRE entities to funnel into bankruptcy court, making lives for holders of assorted CMBS securities rather interesting, especially after the recent unprecedented run up on hopes of governmental bail outs in perpetuity. After all there is only $3 trillion in max pain: a mere week's output for the printing presses at full throttle.
Tomorrow's Economic Calendar
Submitted by Tyler Durden on 08/13/2009 - 13:45Consumer Price Index – July Time: 8:30 am Forecast: 0.0% overall, 0.2% core
Industrial Production & Capacity Utilization – July Time: 9:15 am Forecast: 0.1% industrial production, 68.1%
University of Michigan Consumer Confidence – August Preliminary Time: 10:00 am Forecast: 68.5
NYSE Issues Update On Continuing Trade Outages
Submitted by Tyler Durden on 08/13/2009 - 13:22
And provides a convenient location for those impaired by the NYSE to demand monetary compensation.
Last Week's Insiders Transactions: 10 Buys For $60 Million, 136 Sells For Over $1.15 Billion
Submitted by Tyler Durden on 08/13/2009 - 13:16Courtesy of Finviz, the ratio of insider buying to selling transactions is 10 to 136. Total transaction value: Buys: $60.1 million; Sells: $1,146 million. This compares with last week's buys for $13.4 million and sells for $1,042 million. Over $2.1 Billion in insider sales in two weeks.
$15 Billion 30 Year Auction Results
Submitted by Tyler Durden on 08/13/2009 - 12:09- 4.54% high yield vs. exp. 4.556%
- 2.54 Bid-to-cover vs. Avg. 2.08 (Prev. 2.14)
- Indirect bids 48.1% vs. Avg. 33.21 % (Prev. 32.85%)
- 1.72 Bid-to-cover on indirects accepted to tendered
- Alloted at high 16.77% (BBG)
A Modest Proposal For Dealing With The Soon To Be $1 Quadrillion + National Debt
Submitted by Tyler Durden on 08/13/2009 - 11:36
All Hail Octavia!
U.S. government stages fake coup to wipe out national debt
Regions Financial's $22.8 Billion Dollar Sink Hole
Submitted by Tyler Durden on 08/13/2009 - 11:19The FASB's rule mandating quarterly disclosure of Fair Value of toxic loans indicates that most financial firms are still very deep underwater. Case in point: Regions Financial, whose entire Stockholders' Equity would be in the red (and the firm would be in conservatorship at best) at this moment if the firm were to assign fair value to its loan book.
RIEF: Down 3.43% For First Week Of August, Underperforms S&P By 5.85%
Submitted by Tyler Durden on 08/13/2009 - 10:04And the current week isn't shaping up much better. When will the pain for the gullible ones finally end?
Killing The Dollar Softly
Submitted by Tyler Durden on 08/13/2009 - 09:54
Remember when the dollar bounced back after the "phenomenal" GDP numbers? Neither do we. But at least stocks are up. More of a cushion for after the "even more phenomenal" 30 Year auction results come out today.
Credit Suisse On Flash Trading And Dark Pools, And General Regulatory Status Update
Submitted by Tyler Durden on 08/13/2009 - 09:29Read on for some major exciting changes to market structure.
NYSE Services Impacted, And It Is Not Even A Down Day Yet
Submitted by Tyler Durden on 08/13/2009 - 08:42
BATS Exchange Releases Short Volume As Part Of Increasing Disclosure, Suprising Results
Submitted by Tyler Durden on 08/13/2009 - 08:37
As part of the recent initiatives by Exchanges, ECNs and ATS to provide much needed transparency into daily trading practices, BATS recently started disclosed not only daily volume breakouts of total daily and short volume, but also detail into every single transaction occuring during the trading day. The complete data can be found here: the transaction level detail is staggering.
Frontrunning: August 13
Submitted by Tyler Durden on 08/13/2009 - 08:04- Initial jobless claims increased by 4,000 to 558,000 last week, higher than 545,000 estimate (Bloomberg)
- Retail sales also fall more than expected, amazing what a major recession will do to rosy expectations (Bloomberg)
- Yet more people shopping at Wal-Mart (Bloomberg)
- China's growth an accounting miracle (ContrarianEdge)
- No "Mission Accomplised" for the Fed (Barron's)
Daily Highlights: 8.13.09
Submitted by Tyler Durden on 08/13/2009 - 07:33- Asian Stocks rise as Fed says recession easing; MSCI Asia Pac Index posts its biggest gain this month.
- Chinese stocks rebound after sharp decline, led by banks and metals.
- China wants more say over iron prices, plans moratorium on new steel projects.
- Euro rises against dollar in morning European trade on positive economic news.
- Euro area contracted only 0.1% in Q2 after unexpected growth in Germany, France.
- Euro zone industrial production fell in euro zone in June, reversing May's gain.
