Archive - May 9, 2010 - Blog entry

Unbelievable.

The message to speculators is clear: you no longer have free reign to mount destructive speculative attacks on European sovereign debt or the Euro. Even though it's late, Europe's show of force is resolute and decisive. In my opinion, this will have a profound impact on markets, helping shore up confidence and it will stem the slide to deflationary depression.

According to stories circulating around the trading floor, Dow’s a thousand points of fright on May 6 is the result of a "fat finger" trade. However, trade data seems to suggest the catalyst could be some big fat cats doing "sell in May and go away".

Now that we’re all honorary members of the “Halfway To Hell Club”, a group of nineteen men who seemingly fell to their deaths while constructing the Golden Gate Bridge only to be saved by a crude and rudimentary net halfway down, I present this entirely fictional account of last Thursday’s market crash. Only the names were changed to protect the guilty.

Pickpockets are getting needy again ...