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Multiply this by one thousand and you know how Goldman must feel...(see prior)
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They really dont give a shit about whether or not the obviousness in their strategy can be seen from the other side of the neighboring galaxy.
whats the over/under for 6/6/6 tomorrow
66.6
I take that bet.
So the fixed coefficient is 66.6. I wage 100k that we see 6/6/6 tomorrow.
Say; what is your counterparty risk.
"To the axeman, all supplicants are the same height."
I know you believe you understand what you think I said, but I am not sure you realize that what you read is not what I meant.
We need more up days to ensure the "recovery" continues as planned. Who gives a shit about the unemployed, we don't need anyone working to have profits.
Cheeky what obviousness are you suggesting? That this is all a lie. Say it ain't so..........
Oh Jim; Jim Jim Jimmy "The Wise".
I would give a kingdom away just to drink your tears to gain your wisdom and prophetical skills.
I am working on a scheme, ahem a mechanism to sell that.
I did notice though a couple of things on that shitty site CNBC today, like this morning it was the drop in dropless claims as to why the market was up or my brother Jim Fuck You In The Ass Cramer crying that the banks are paraylized from a lack of direction on financial reform. I love that site, when I need a good dose of fairy land after getting luded up it's a great place to stop in and smell the "roses".
One more thing Cheeky, you should by BP, and that recommendation comes free of charge unless you count the 33% premium.
I bought a 100k block @ 50 the last time you recommended that trade.
AND IM NOT SORRY.
666, nice number
Rhymes with...
burst appendix.
Mass Strike Reaches Courts in Utah: No Foreclosures Allowed PRINTER-FRIENDLY VERSIONSEND TO FRIEND
June 10, 2010 (LPAC) — The increasingly revolutionary political mass strike against Wall Street reaching across America, has reached the courts in at least one state, Utah. All home foreclosures in the state by a half-dozen big banks and lenders were enjoined, prohibited, in a court order issued by Fifth District Court Judge James L. Shumate on May 22 in St. George, Utah.
For nearly four years, the United States has been swept by mass waves of foreclosures, hundreds of thousands each month, with "servicing banks" throwing out households on behalf of "security trusts" run by international banks and claiming to have bought parts of that household's mortgage, which had once been issued by still a third "lender" or a fourth "broker" no longer in the picture. Judge Shumate acted on a lawsuit just brought, and without even holding a hearing — he apparently agreed with its arguments, that this very toxic process of "securitization" of mortgages by the banks and investment houses, forfeited both the lenders' and the securities holders' power to foreclose.
The ruling has stopped all foreclosure proceedings in the State of Utah by Bank of America Corporation; Recontrust Company, N.A; Home Loans Servicing, LP; Bank of America, FSB; envisionlawfirm.com, and other financial corporations. Since Bank of America is the owner of the notorious Countrywide Mortgage Corp., this amounts to more than 1,000 foreclosures/month. The court order, if allowed to become permanent, will force Bank of America and other mortgage companies with home loans in Utah to adhere to the Utah laws requiring lenders to register in the state and have offices where home owners can negotiate face-to-face with their lenders. In seeking to overturn it, the banks will argue that the states cannot touch mortgage lenders because "Federal pre-emption" effectively made them wards of the Federal Reserve — which since Alan Greenspan's tenure, would not dream of regulating them.
But it may not be able to protect them, either, from state pitchfork brigades, if the Utah example spreads.
I read on another blog about a year ago that everyone should have a lawyer submit a request to their mortgage banker to see the actual Note. It turns out during the hey-day, many Notes did not get correctly transfered as mortages were sold. If the mortgage bank does not hold the note, a mortgage payer is technically paying the wrong bank. In the event the requested note cannot be produced, stop paying.
I read someone else say they were going to file a quit-claim. I'm not sure what that does or would accomplish, but I know my name and property address are in the MERS database, so I'd love to find out how to absolve my property debt.
Try this on for size.
Package your mortgage into, something like oh hell lets make up a name MBS, and sell it to GS who can then sell it to clients and you can buy some CDS protection against failure so that when you "default" you profit enough to pay off the debt and off you go to obsolving your mortgage debt.
Wish someone else would do all the hardwork instead of me coming up with these ideas.....
...and if enough people do it at the same time, they can stand on one another's shoulders and thereby shout into the windows of the upper floors of their (least) favorite skyscrapers in Manhattan.
But, I think TPTB outlawed flash-mobs back about a month or so ago. So many things to remember.
some states require the creditor to produce a physical note, signed by the debtor, evidencing the debt--the MERS database won't help them if they are trying to foreclose in such a state.
In certain states they have to produce the actual note to prove that they hold the mortgage, but most people are unaware of this. The mortgages got bundled and sold in huge amounts so it is often difficult to produce, find, or track the original note.
In Landmark Ntl Bank v. Kesler, the Kansas St Supreme Court threw out a default judgment last year against borrower Kesler because, apparently, the Bank could not produce the promissory note, only its registration in the MERS database. I am not a lawyer, but my understanding is when the promissory note is separated from the deed of trust, the enforceability of a default claim is called into question. The Court's decision is linked below.
Habeas corpus indeed, or in this case, produce the note (habeas notice?). Funny how this case dropped into the memory hole very soon after the decision was rendered. Hmmm, why do you suppose that is?
http://www.kscourts.org/Cases-and-Opinions/opinions/supct/2009/20090828/...
Here are a series of related links I've collected in the past 3 years. I can only hope this gains more widespread attention and average mortgagors can determine if the lender has lost their claim to the home. I live in Colorado.
http://courts.arkansas.gov/court_opinions/sc/2009a/20090319/published/08-1299.pdf
http://www.princelobel.com/news-publications-91.html
http://loanworkout.org/2008/06/the-mers-fifty-million-mortgage-meltdown/
http://consumerist.com/2009/08/brooklyn-judge-rejects-improperly-documented-foreclosure-motions-shocks-banking-industry.html
http://foreclosurebuzz.org/2009/09/15/kansas-supreme-court-mers-is-a-straw-man-with-no-enforceable-rights/
http://www.opednews.com/articles/LANDMARK-DECISION-PROMISES-by-Ellen-Brown-090921-894.html
http://www.lasvegassun.com/news/2009/oct/03/ruling-rattles-mortgage-industry/
http://www.scribd.com/doc/20916919/Foreclosure-Fraud-Guide-to-Looking-up-Public-Records-for-Fraud
http://www.necn.com/Boston/Business/2009/10/14/Ruling-may-allow-homeowners-to/1255562400.html
http://livinglies.wordpress.com/2009/10/16/judge-long-massachusetts-foreclosure-decision-throws-securitization-intermediaries-into-chaos-reo-sales-stopped/
http://www.nytimes.com/2009/10/25/business/economy/25gret.html?_r=3&partner=rss&emc=rss
http://www.lvrj.com/business/judge-upholds-rule-on-foreclosure.html
http://foreclosuredefensenationwide.com/
https://www.mers-servicerid.org/sis/search
http://livinglies.wordpress.com/2008/12/31/trustee-for-investors-powers-and-limitations-with-livinglies-annotations-critical-in-your-presentation-in-court/
http://www.larouchepac.com/node/14804
http://market-ticker.denninger.net/archives/1526-MERS-This-APPEARS-To-Be-Unlawful!.html
http://tickerforum.org/cgi-ticker/akcs-www?post=113142
http://tickerforum.org/cgi-ticker/akcs-www?post=111695
http://www.sloshspot.com/photos/blog/full/photo_1230744117.png
this pretty much says it all...
It's always between 9 and 5 somewhere...
Don't forget the NYSE Rule 48. it has a perfect track record too, but only when futures are down a ton, when they are up a ton like this morning, NYSE never has a problem.
Don't forget the last two nights the futures have been down a ton, but it's a festivus miracle that they recovered.
Word
There weren't any problems because volume was so light.
I can hear Cramer now... "this is why you need to stay in the game, days like today"... I just threw up in my mouth.
Yes that's right. I lost 15% to gain 2%. Why in the hell didn't I think of that.
You have to get the trade right. Today convergence happened the opposite direction.
You really don't need to guess if you play the arbitrage - i.e. buy the lower index and sell the higher index. Remember - your play is the difference and not one of them alone.
My issue is with the fact that Tyler has said before to BUY the FX and sell the ES, but if you sold ES today you would have missed the 4 points up. So how is this the same as the prior ones?
not true - his point is to arbitrage the difference. I think that was obvious.
Okay, can we shut up about this arb now :)
The more we talk about it, the less it will work and soon be non existent.
My issue is with the fact that Tyler has said before to BUY the FX and sell the ES, but if you sold ES today you would have missed the 4 points up. So how is this the same as the prior ones?
You buy whichever one is lower and sell the one that is higher on the chart.
Thanks for the reply, but again had you sold ES at 1082, you'd miss those 4 pts which you can sell at the open tomorrow (this is my thinking but I am not a trader). Buying the EURJPY would've gotten you some bps, which is nice, but essentially holding your positions would have likely resulted in staying positive overall in both.
I see what he means by the spread divergence, but I don't think this works every time like he says.
You index both to the same starting point, i.e. around 9.75 of EURJPY for each point of ES. You are merely playing the divergence and looking for the spread to collapse. This is a bull/bear agnostic trade.
so this convergence trade made 2 bps today, right?
short ESM0: 1082.75 --> 1086.75 = -37bps
long EURJPY: 110.41 --> 110.84 = +39bps
you probably do better on your Google ADsense revenues...
Sorry, I had to flag you as junk because you dared to question authority.
Seriously, though, nice comment. I wondered when someone was actually going to post some math instead of giving Tyler a rim job.
+1
But isn't "probably" the key word here?
Tyler is pointing out a sure thing, not a bet, right?
It's the difference between going for the sure thing and gambling for the extra. Just take the spread.
Oops, didn't mean to jump in after you, Tyler. I guess you got that one.
CNBC: Market "Soars" (yeah, right, chumps)
ZH Post: Sign of Recovery Not In Progress:
Baltic Dry Index June 9, 2010 3,514
May 21, 2008 11, 840
we're hovering around 2006 levels - to my eye it looks as though we've semi-permanently reset at that level.
I would like to see a knowledgeable treatise on the Baltic.
I have heard some one say if it can't go over 5000, it is a sign there is not recovery, but GD 2.0
I see what he means by the spread divergence, but I don't think this works every time like he says.
ES is futures isn't it? You just close after hours when the 2 match up again.
Watch it and make some trades, you'll see.
Of course, EJ vs ES on the daily chart is anything but correlated a few months back...
Interestingly enough, why is EJ so closely linked with the stock markets. Surely AUDJPY is the better carry trade given interest rate in AUS at the moment?
Gah Dammit! I missed it again!
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