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An Advance Look At Tomorrow's Buy-In List
As circulated by a very prominent prime broker, the following names (and several others) might show up on buy-in lists tomorrow: NOK and KLAC, but most notably SPY and IWM. As a reminder these kinds of broad index ETF buy-ins occurred in March and April 2009 when the market surged higher day after day without a care in the world. Couple this with tomorrow being a POMO day, focusing on the belly-heavy portion of the curve (9/30/2016 – 8/15/2020), and we have a feeling red is not in the cards for stocks.
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Big Tyler....you got anything for us on LPS getting halted?
I hear ya on the green tomorrow but I'm getting that gut feeling the dark clouds are on the horizon and the doo doo might hit the fan.
here ya go jbc77:
Lender Processing Halted News pending: Comments on Recent Mischaracterizations of its Services - LPS is issuing this statement in response to recent mischaracterizations in the media regarding the default-related services LPS provides to mortgage lenders/servicers. Specifically, recent concerns have focused on foreclosure issues related to the execution of affidavits containing substantive borrower information and the preparation of assignments of mortgage.- LPS has not executed affidavits containing substantive borrower information on behalf of its lender/servicer clients since September 2008. When LPS performed this service, affidavits were prepared and provided by the lenders' or servicers' attorneys. These affidavits were then executed by LPS consistent with industry practice, under corporate resolution. LPS had processes in place to ensure the information in the affidavits was validated and that the affidavits were signed properly.
- In reference to assignments of mortgage, LPS has made previous statements regarding its document preparation subsidiary, Docx, LLC. This small subsidiary (less than one percent of LPS' revenue) prepared assignments of mortgage for two lenders/servicers between 2008 and 2009. Docx did not prepare or execute affidavits containing substantive borrower information and no longer provides document preparation services.
- During its operation, when lenders/servicers or their attorneys requested that Docx prepare an assignment of mortgage, the lenders/servicers or their attorneys provided the necessary borrower information, which was downloaded by Docx employees into a pre-approved document template. The document was then printed and either signed by the lender/servicer or Docx, pursuant to corporate resolution. Docx did not determine whether these documents were then used in a court proceeding those decisions were made solely by the lenders/servicers or their attorneys.
- There have also been reports in the media regarding varying signature styles on assignments of mortgage. The varying signature styles resulted from a decision made by the manager of Docx to allow an employee to sign an authorized employee's name with his or her express written consent. LPS was unaware of this practice. As previously reported, upon learning of it, LPS immediately took remedial actions to correct all assignments of mortgage signed in this manner and provided these corrected assignments of mortgage to the two lender/servicer clients or their attorneys. LPS continues to believe this will not have a material adverse impact on its business or results of operations.
blue horseshoe like NOK and KLAC
makes me think someone wants to sell their positions in those tomorrow - or perhaps I'm just being paranoid...
if you are paranoid so am i
Not paranoid, just analysis paralysis....like going to the horse races and studying the daylights out of the Daily Racing Form to make your pick. The horse doesn't know how to read and will run fast only if he took a good dump that morning. Just bet the happy horse faces and save time.
This is why the only people making any money at the track are the guys making the saddles. Same theory applies to other concerns where bets are made.
Goody, go IWM! Have to replace some TZA.
Not just tomorrow, Tyler - Wednesday is a POMO day as well. If you're a bear - best to wear your cup in the next two days.
They will drag out Dan "The Greaseman" Niles for that KLAC upgrade.
Nobody knows how to spin the "2010 v-shaped recovery" better.
This ploy has been used so many times it's ridiculous.
Long candidates for this engineered crack run are the obvious:
NVLS, QLGC, MXIM, AMAT, etc.
The higher the beta the better.
Direxion might as well come up with a 4x long semiconductor "crack vehicle" for these Riverboaters to pile into.
I went long TZA and FAZ Friday...short RIMM... dumped them all today, didn't want to risky the Fed's POMO rath tomorrow.
Oct10 64 & 65 Puts on the IWM were very popular today...
Looks like the shorts are going to get a break on Tuesday. I'm putting Tyler Durden down for 50,000 shares of KLAC @ 34.24. Buy and hold em baby!
Just do the opposite of what this site says and you'll be rich in no time. I'd assume this particular Tyler Durden is stuck with some KLAC he needs to unload.
seems to me that even the bearish commentators on this site are starting to revolt against bearish stories. we must be awfully close to a top.
i was shocked that Nic Lenoir caught so much flack for his "bearish conviction" piece. if people on ZeroHedge aren't short anymore, then there probably aren't many people left to buy.
QE2 will go over like TARP did. instant pop, then lead balloon.
Not just this site. Even over at the WSJ, the bears don't sound like they're convinced of their own words. The reporting on this site continues to be factually true and the negative tone is still novel, but somehow the wind is out of the sails.
yeah, it is kind of twilight zone-esque right now. no one is talking about ISM Services at all. it could potentially come in sub-50 tomorrow. i don't expect that, but i think the market is completely ignoring how close ISM Services is to contraction mode. that is 70% of the economy. everyone is so focused on manufacturing which is only 20% of our economy.
the good news is that the wednesday is the last day that they have scheduled POMO operations which means the market is going cold turkey after that for at least a week. the next release of the schedule will be on oct 13. from what i remember they release 2 weeks in advance so ~27 would be the next POMO.
Dive Dive.
Last Thursday was a POMO day. Check your daily candle for last Thursday, RED.
Just have to be more precise. Thursday was a 0.2% down day but rescued from a 2% down day. Check your intraday.
It was also just after the FOMC statement, everyone was in the market, and the POMO was only 2bln. Anyhooo, the proof is in the pudding, and if its going to make a difference at all, today will prove an ideal test case.
So you're saying today was a bad day to go all in AAPL short...
This market's in no shape to go cold turkey without POMO for even a week or so, in my humble opinion. PTB better pump it hard next two days. Possible entry points on Wednesday for would be shorts. Watching the dollar for strength or a sustained turnaround.
disclaimer: I'm down with DPK, BGZ and FAZ.
POMO can't do anything but hold it in a range here... The currency markets will turn soon, at that point POMO won't be able to stop the bear market reality for US equity markets. Sell and hold "homegamers"... Boo Ya
Chart: SPX
Red.
http://99ercharts.blogspot.com/2010/10/spx_5340.html
UK's Telegraph Mentions The "D" Word
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/803978...
some food for thought: http://www.cxoadvisory.com/economic-indicators/pomo-tomo-and-stock-returns/
Chart: ES
POMO? Folks may not give a rat's ass.
http://99ercharts.blogspot.com/2010/10/es_05.html
Yeah those lines are dead sure to stop a $5bln liquidity injection, ummm. I have a few lines of my own, they are going up my nose though.
Who cares?
Just look across the market...you see CREITS in levitation, nobody's gone BK. There's no volume, no buyers, no sellers. The market is a wasteland.
All this talk of buyers and sellers, there aren't any. The Fed is the bid. PERIOD. Bank on that. And they are buying the entire market.
Made Money
-profd