Archive - Dec 11, 2009
Does the Caisse Need Retention Bonuses?
Submitted by Leo Kolivakis on 12/11/2009 23:11 -0500When I hear people at the Caisse whining, I tell them to shut up and deliver the goods. Period. The Caisse isn't a charity. It's one of the largest pension funds in North America. The money managers and analysts there are treated like royalty, often spoon-fed by sell-side brokers (what they are fed, that's another matter).
Even Computers Have Given Up Trading With Each Other
Submitted by Tyler Durden on 12/11/2009 19:18 -0500
A chart of the past two days' cumulative trading volume speaks...well, volumes. At this point it is safe to say that even machines no longer derive any binary pleasure in scalping humans, and are off to spend the spoils of having run up markets to such heights that nobody will either buy or sell any longer, but merely stare with disbelief.
Guest Post: A Hot Future For Geothermal
Submitted by Tyler Durden on 12/11/2009 18:32 -0500
Capturing energy from the earth’s heat is pretty easy pickin’s for geologically-active areas of the world like Iceland, Indonesia, and Chile. In some locations, hot fluids are so near the earth’s surface that heat from naturally-occurring hot fluids can be directly circulated through buildings for heating. Iceland, in particular, takes advantage of this low-hanging energy fruit. However, in most areas of the world where geothermal energy is captured, the heat is used to generate electricity.
China vs. The World (revised)
Submitted by Vitaliy Katsenelson on 12/11/2009 18:20 -0500the dichotomy between how investors look at China and the rest of the world
The Proposal That Has Dark Pools Sweating; The Dark Pool Vs. HFT Scramble Is About To Enter Round Two
Submitted by Tyler Durden on 12/11/2009 18:11 -0500Dark pool operators, who have quietly been redirecting shady order flow via dark pools of "liquidity" with minimal supervision and below the radar for many years, are getting spooked by a proposed SEC rule which would have these same dark pools identifying their trades in real time, thus removing the benefits associated with what is effectively an OTC equities market. Their response: blame it all on the HFT guys, who use the information that would leak to front-run the crap out of the "long-onlies." Yet weren't these same HFTs claiming just yesterday that all they do is provide liquidity and tighten spreads? ... Someone is lying.
House Passes Bill to Audit the Fed
Submitted by George Washington on 12/11/2009 17:43 -0500We've won round 1!
New Stock Exchange Opens in Africa
Submitted by Econophile on 12/11/2009 17:23 -0500When is a stock exchange a criminal syndicate? Here's one in Somalia that takes a unique financing approach to a dynamic growth industry: piracy.
Kucinich To Introduce Legislation To Mirror UK Banker Bonuses
Submitted by Tyler Durden on 12/11/2009 16:41 -0500"Leaders in Great Britain and France have recently announced proposals to tax the bonuses of financial executives--if the United States remains silent on the issue, we will in effect be leading the world in a ‘race to the bottom’ of international efforts to regulate the financial services industry." - D-OH Dennis Kucinich
Surging Zimbabwe Stocks - A Look At Things To Come
Submitted by Tyler Durden on 12/11/2009 15:53 -0500"While the rest of the country suffers, this stock market is booming." Note the not-so-High Frequency Trader counting the trade tickets.
Has The Matrix Short Circuited???
Submitted by RobotTrader on 12/11/2009 15:43 -0500Stock trading is getting more boring each day, unless you want to buy a Dow stock that goes up $1 to a new high for the move. However, for the Forex Megadroid Gridbot junkies, things seem to be spiraling out of control, unpredictable moves everywhere. Why didn't stocks tank when the dollar took off today? Many questions for the weekend.
Steve Liesman Responds To Zero Hedge, Says Things Aren't Good "By A Long Shot"
Submitted by Tyler Durden on 12/11/2009 15:35 -0500"Quick comment: I was wrong about what the program is called. Rick is right: It's emergency unemployment claims. I've reported on this number several times before (even making the same point that it's been higher than the topline continuing claims number.)
But I stand by my read of the data and disagreement with Rick, who said, "all the non-seasonally adjust numbers were much, much higher than the headlines." That's just not true."
- Steve Liesman
Gold, Silver and Crude Oil Continue Their Slide ... while the US Dollar Attempts to Confirm a MAJOR Bottom
Submitted by Fibozachi on 12/11/2009 15:34 -0500Examining today's sell-off in Gold, Silver and Crude Oil and the concurrent rally of the US Dollar Index across daily and 1-minute charts
Thoroughly Useless Wall Street Reform And Consumer Protection Act Passes Along Party Lines
Submitted by Tyler Durden on 12/11/2009 15:12 -0500"The legislation will send a message that we’re trying to respond to what got us into this economic meltdown and trying to set up mechanisms to prevent future economic meltdowns” - Barney Frank
We will revisit this quote in 12-18 months
Gold 50 DMA Approaching Fast: Major Support Or Breakdown Level?
Submitted by Tyler Durden on 12/11/2009 14:15 -0500
With gold having dropped nearly $100 in a very brief period, as the Fed is doing all it can to prevent an all out gold rout (hey it worked the other way around too, and stopped the intended dollar free fall), spot is now a mere $13 away from the 50 DMA. Will this prove a material support level or will it be breached, leading to a cascade all the way down to the 950 previous support. For the latter to happen one can see the DXY going back all the way to 80 which the banks will certainly not be too happy to see. Alternatively, a collapse in spot will present a great accumulation level (at a cost basis below that of India, and other fringe CB accumulators) as Bernanke is still dead set on inflating trillions of toxic mortgages (the ones he is unable to collateralize the dollar with).
Tim Geithner: No One-Off 2009 Bank Bonus Tax
Submitted by Tyler Durden on 12/11/2009 13:57 -0500Developing from Dow Jones: US Treasury - No Plans For One-off 2009 Bank Bonuses Tax; Bankers can sleep well.








