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
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
Warren Buffett Faces Stiff Competition From Senator Kit Bond
Submitted by Tyler Durden on 06/22/2009 - 13:18No, not with regard to who can put more money into struggling Hell's Angels' favorite company Harley Davidson, or who can launch another failed bond wraparound insurance company... No, we are talking Becky Quick of course, who somehow has a knack for attracting males 2-4 times her own age. In the clip below pay attention to Kit Bond's last words.
Loans Versus Bonds Relative Value: Week of June 18
Submitted by Tyler Durden on 06/22/2009 - 12:41The toxic grabfest is ending. This is best seen by the inversion in the secured/unsecured classes. While the loan universe moved 9 bps tighter over last week, the slow HY bus is still trying to load up on those Neiman Marcus bonds, hoping to see this piece of paper get taken out at par. Here's a hint - it won't.
RIEF Outperforms S&P by 2.06% MTD, RIFF Plunges
Submitted by Tyler Durden on 06/22/2009 - 12:02The high/low beta stratification seems to have finally worked out for RIEF, although likely too late as anxious investors have said "basta", and also just in time to watch RIFF get annihilated with a -7.79% absolute (ly disastrous) performance MTD. No surprise all fees there have been waived. At this rate of decline the "Futures" Fund certainly has no future.
Frontrunning: June 22
Submitted by Tyler Durden on 06/22/2009 - 11:28- Wallgreen's conference call: Consumers shopping closer to payday, saving more, using less credit
- Insiders apparently don't watch CNBC, don't smoke greenery, as they sell shares at fastest pace in two years (Bloomberg)
- The truth - Nobody has any idea what is going on: World Bank, Roubini
