Archive - May 6, 2010 - Blog entry

Six unique looks at yesterday's record breaking S&P 500 futures plunge alongside NYSE market internals with a few of our favorite tools ... the lowest NYSE Tick of the millenium, skyscraper sized daily & 1-minute down volume, ES 1-minute, ES Momentum Bars with ranges of 1 & 5

The global debt supercycle exacerbated income inequality, and the revolts we're now seeing in Greece will eventually spread throughout the world. Is Greece the straw that breaks the camel's back?

New York Times:

Traders Jump from Windows; Market Rebounds Before They Hit Ground

No ...

I can't wait to find out what happened. Just a guess.

What do you think ... good bill or bad bill?

Please call NOW ...

As Greece, and Portugal, and recently even Spain bask in the spotlight of the bond vigilantes, I want to remind my subscribers to be prepared for Italy’s turn to dance. Being prepared before the party starts can be most profitable. The Greek and Spanish trades are pushing 400% plus, and the run is not nearly over yet, at least in my opinion.

Bear's execs say, "We didn't do it. It's not our fault. Evil speculators conspired against us, and investors irrationally made a run on us." They have no clue and they sound pathetic. Perhaps they should have read two little books.

European finance ministers must be depressed that their $140 billion bailout of Greece only bought them only 24 hours of grace in the eyes of investors. The global nature of the sell off across all asset classes came as no surprise. The withdrawal of the Fed at the beginning of the quarter as the sole purchaser of real estate debt in the market, led not to a crash in bond prices, but a huge six point rally. Where am I going to buy the dip first? Shanghai.