Archive - Nov 12, 2010

Futures (and their driver - AUDJPY) have been spooked overnight by a circulating think thank report which claims that an Ireland bailout package is coming on Tuesday. Coupled with another rumor of a Chinese rate hike (China now down 6% in last two days) means Brian Sack's cronies had a very busy night. ES plunged as low as 1193 before recouping a whole 12 points, and wa down just 6 at last check. It appears that just like in the flash crash, one of the key correlation catalysts is the EURUSD, which once dropping below 1.36, all hell breaks loose. For today, Ireland may be a rumor. Next week it will be a fact. And not even the Fed will be able to halt a multi-trillion selling onslaught.

The approval of a massive 2.8 megawatt plant in California is a game changer for the solar industry. Entering the big time. It’s all part of a rush to start alternative energy projects before Federal subsidies from Obama’s 2009 stimulus package expire at the end of this year. This one plant will provide about 15% of the total residential power in California. Will the Golden States become the first to free itself of hated foreign oil imports?

RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 12/11/10

"Once they get their hooks into you, you're a dead pigeon"--Bud Abbott

Retail traders are notoriously wrong at picking market direction/tops and bottoms. Most retail traders very naturally seem to adopt a counter-trend stance and this offers very accurate signals for individuals looking to trade against this group. This daily report is designed to help traders focus their efforts on higher probability pairs.

Just a quick update from my piece earlier.

The market slid today as Cisco spooked investors with a bad Q as they are still struggling to come up with a hit after the Thong Song, the G20 meetings proved to be less positive than a Helen Thomas pregnancy test, and macro news was more non-existent than dark matter (for now), as...