Archive - Oct 11, 2010 - Blog entry

MoneyMcbags's picture

It was a quiet day on the Street as the bond markets and federal offices were closed to celebrate one of the greatest threesomes of all time, and no, Money McBags isn't talking about the Three Stooges, the Dahm triplets or that scene in Meggann and Hanna love Manuel, he's talking about the voyage of the Nina, Pinta*, and Santa Maria as today was Columbus day so hopefully you all coughed in to a blanket and handed it to your neighbor in order to celebrate.

madhedgefundtrader's picture

In a profession where you are only as good as your last trade, the question arises of what to do now? I look at moves like these and my inner trader says “run, Forest, run!” Mean reversion has the nasty habit of taking profits away. Is QEII (the monetary kind) already priced in, but may not happen? What’s a poor trader to do? Better to lock in that performance, keep you powder dry, and live to fight another day.

Phoenix Capital Research's picture

Of the 67 or so people who own homes in our group of “average Americans,” 16 (roughly 24%) of them are “underwater,” meaning they owe the bank more money on their mortgage than their homes are actually worth. Another five out of this 67 have lost their homes to foreclosure since the Depression began in 2007. Add to all of this the facts that Americans’ second most common source of wealth (stocks) haven’t returned anything in over a decade and that incomes today are 5% lower than they were in 1999 and you’ve got a pretty bleak picture for the US economy and Americans’ quality of life.

asiablues's picture

Eric Schmidt, Google CEO, claims that Android is making money and envisions a potential $10 billion market. However, despite the impressive Android number, keep in mind that the free open source means zero revenue for Google. So in order to evaluate if Android will be the next big revenue stream for Google, one needs to get past the initial excitement arising out of the handsets growth projection.

ilene's picture

The FINRA Fiasco

FINRA not only failed, but the question that needs to be fully explored is whether it acted on material, nonpublic information as it liquidated its ARS bonds in 2007, at the expense of the investors it was supposed to be protecting.

4closureFraud's picture

PART DEUX. President Obama is a victim AGAIN of the robosigning phenomenon that has taken the financial industry by storm... And it has been happening for OVER A DECADE behind the veil of MERS... Next up, how to look up the records for your local representatives and judges so you can show them that they have been affected by these crooks too...

Phoenix Capital Research's picture

Over the last two weeks, I’ve called for a reversal in stocks. It seems I’ve completely underestimated the ability of the Federal Reserve and its Primary Dealers to ramp the market higher on next to no volume.

Indeed, stocks have soared in the last six weeks, posting their best September performance in 71 years and rising roughly 12% from trough to peak. This surpasses even July’s monster rally of 11.1% from trough to peak, stands as the most aggressive rally since the April 2010 top.

Leo Kolivakis's picture

Got Milk?

Canada is a strange country. We extol our health and education system but the reality is we do very little to promote lifestyle changes that prevent diseases, starting with educating people on proper diets and exercise programs.

madhedgefundtrader's picture

Ben Bernanke has privatized the upside of the global stock, bond, currency, commodity, energy, and precious metals markets, and socialized the downside, with his much publicized move towards quantitative easing. While former Treasury Secretary Hank Paulsen spoke about a bazooka in his pocket, Helicopter Ben is hinting that he has a 100 megaton thermo nuclear weapon.

Pivotfarm's picture

This daily report is designed to help traders find opportunities to trade against this group. The premise is very simple we are looking for 66% of retail traders to be trading either long or short a currency pair, we then look for opportunities to fade (trade against) this group. For example if 72.99% of traders are long the USD/CHF we look for opportunities to short that pair. The pairs that we feel offer the highest opportunity for success are described in the Shortand Long Zones.

MoneyMcbags's picture

To the tick tock and the market doesn't stop, as even though the jobs report continued to color the economy bad, the shit awful numbers signal that Benny B is going to come in and sex the market up with QE2, so rally on my friends, rally fucking on (and yes, the rally makes about as much sense as Money McBags' using a shitacular 1990s song for an extended metaphor, but alas, not every Money McBags analogy can end with Taylor Rain going 5-hole, or can it?).