Fast Track Airport Lane Files For Liquidation
Submitted by Tyler Durden on 06/23/2009 - 02:57One of the most overhyped and underdelivering companies in the world has liquidated, less than a few years after spending a boatload of capex to purchase uber-expensive machines that ended up being complete garbage and will probably reap 5 cents on the dollar in salvage value. Cardmembers are currently in process of getting their notifications.
Overalottment: June 22
Submitted by Tyler Durden on 06/23/2009 - 01:37- Must read: Researching corruption at the Treasury: The PPT 101 (Market Skeptics)
- NRG suit against Exelon bid dismissed (WSJ)
- State Street will have something to say about this: Fed in discussions on changing Repo transactions (Bloomberg)
Australia Revises GDP Estimate Again?
Submitted by Tyler Durden on 06/23/2009 - 00:25A just issued update publication by ABARE on Australian Commodities (June 2009), in the section summarizing projected 2009-2010 economic activity, ABARE provides a -0.5% estimate for economic decline.
Daily Credit Summary: June 22 - World Banked
Submitted by Tyler Durden on 06/22/2009 - 20:25Spreads were broadly wider in the US as all the indices deteriorated. Indices generally outperformed intrinsics (as post-roll derisking covered by index hedges seemed prevalent) with skews widening in general as IG's skew decompressed as the index beat intrinsics, HVOL outperformed but widened the skew, ExHVOL outperformed pushing the skew wider, XO's skew increased as the index outperformed, and HY outperformed but narrowed the skew.
Market Neutral Quant Deleveraging Comes Full Circle
Submitted by Tyler Durden on 06/22/2009 - 19:53The HFR Market Neutral index is back down to when we first discussed it. In the meantime, market neutrals have repeatedly tried to leverage up on numerous occasions and failed every single time. With YTD performance of -3.88%, it will likely only get worse from here.
Collision Course And Volume Spike
Submitted by Tyler Durden on 06/22/2009 - 18:56The 50 DMA and 200 DMA are about to collide. What next?
Also, major volume into the last minute of sell off and continuing after close (going from cumulative below average to well above): Merrill and Susqehanna trading 1 million SPY share blocks after close independently.
White House Expects 10% Unemployment In Next Few Months
Submitted by Tyler Durden on 06/22/2009 - 18:37Developing story: this means that unemployment will either be allowed to reach its true, "unadjusted" levels in the low teens shortly, or will be kept artificially low for 2-3 months, allowing that to be spun as a green shoot by CNBC. Time will tell.
SF Fed On Effectiveness Of Stimulus Package
Submitted by Tyler Durden on 06/22/2009 - 17:57San Francisco Fed providing their 2 cents on classical Keynesian economics as pertains to the efficacy of the $787 billion Obama Stimulus Plan. In summary: "The uncertainty ... remains high. Several economists remain skeptical that fiscal multipliers—whether from spending or taxes—are very large (see, for instance, Barro 2009). Moreover historical relationships may prove much less reliable during this downturn.
Letter From Indiana Pensioners' Richard Mourdock
Submitted by Tyler Durden on 06/22/2009 - 17:15June 22, 2009
Dear Friends & Supporters:
Letter From Indiana Pensioners' Richard Mourdock
Submitted by Tyler Durden on 06/22/2009 - 17:15June 22, 2009
Dear Friends & Supporters:
Propaganda Machine Needs Oiling, GDP Needs Red Bull
Submitted by Tyler Durden on 06/22/2009 - 16:17With headlines like this, who can argue that the media machine, in full control for the past 3 months, has gotten skewered on its own (lack of) propaganda:
1:00 pm : A lack of upbeat headlines has allowed participants to take control of the session. In turn, losses have been deep and broad-based, leaving stocks to test a major technical hurdle.
Propaganda Machine Needs Oiling, GDP Needs Red Bull
Submitted by Tyler Durden on 06/22/2009 - 16:17With headlines like this, who can argue that the media machine, in full control for the past 3 months, has gotten skewered on its own (lack of) propaganda:
1:00 pm : A lack of upbeat headlines has allowed participants to take control of the session. In turn, losses have been deep and broad-based, leaving stocks to test a major technical hurdle.
Gold Rescue Plan Delineated
Submitted by Tyler Durden on 06/22/2009 - 15:51US To Trade Gold Reserves For Cash Through Cash4Gold.com
hat tip Steve
Intraday TICK Update
Submitted by Tyler Durden on 06/22/2009 - 14:59Not a single buy-program in da house today.
hat tip permabullish knockout optioned, kilt wearing dude
Intraday TICK Update
Submitted by Tyler Durden on 06/22/2009 - 14:59Not a single buy-program in da house today.
hat tip permabullish knockout optioned, kilt wearing dude
