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Another Treasury Debt Issue Floated With Success
The Plutocrats at Bernanke, Geithner, LLP have this "Wash, Rinse, Repeat" cycle down to a science. Sell stocks, report huge increases in crude inventory, buy dollar contracts, short gold, and voila!!! Another huge round of debt offloaded with ease to our foreign debt enablers, 225% oversubscribed. No worries about an overheated economy, inflation, spiraling commodity costs, etc. Therefore, more Treasury debt is eagerly scarfed down faster than a hungry dog wolfing down a discarded Big Mac.
Check out the "V-Bottom" as voracious buyers come in:
Other than that, a pretty much a boring day in the Casino.
We had more 1999 "Spice Girls" re-runs, like JDSU ramping for the 7th day...
Then there was the "rumor" that Hefner was putting Playboy up for sale.
Just to prove how many fast-triggered arb gamers there are out there, look how fast the stock ramped nearly 40% in mere seconds of the news...
Spent some time today watching the Hi-Fi traders attempt to "daytrade" hot issues like GMCR after the big earnings warning....
By the way, here is a sample "Hi-Fi" trader typically found at the trading desk of CalPers, TIAA-CREF, gunning Grandma's money with 1000 mouse clicks every day....
And here is his direct report, one of the many FemBots programmed to horsewhip these traders by barking commands:
"If its going up, buy it!!"
"If its going down, sell it!"
"Keep your eye on that 5-min. chart!!"
By the way, anyone see those ridiculous Lind-Waldock TV spots??
I mean, check out that chick. She looks like Wesleyan graduate, now a corporate marketing executive. More interested in climbing the social ladder and shopping at Saks than trying to gun commodity futures in her spare time.
And look at the poor guy. He looks like one of the poor 120 lb. schulbs from Purdue that got crushed into a locker by the school jocks during recess. What are the odds that this guy has the fortitude to trade gold futures against the PigMen at Goldman?
I don't see either one of these sitting bug-eyed behind a computer mouse clicking all day long trading pork belly futures. Very funny!!!
Here is what is likely to happen to those people if they open up an account at one of these Bucket Shops:
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Purdue has recess?
love the post. i personally like the lind waldock ad where one guy tells another that he trades s&p futures at night when he can't sleep. what a perfect pastime for insomniac joe sixpacks - punting around futures w/ a contract value of $270k or even $55k for the emini from a home computer at 2 in the morning.
The firm of B, G, LLP, verrry good.
As for the market, $$shorts were too confident. Gold did not take the bait. Resitance overhead and earning generally over, let's watch the cat play with the dead mouse.
5 minute chart? That's so 1999. It's all tks now...
From my buddy Sudaca over at Cap Stool
That puts things in perspective!
In other news (cheeky bastard, are you listening?)
http://www.guardian.co.uk/environment/2009/nov/09/peak-oil-international...
Can't wait for the Treasury bubble to pop. Mad Max time then.
RoboT: The master of stereotyping!
(mostly accurate, I might add)
Let's see, as a bank, you borrow at 0% (or, a range of 0 - 25bps technically), and invest in USTs at 3.5% (or whatever), giving you a NIM way fatter than you can get actually taking credit risk.
Why wouldn't you just buy USTs? You can't lend mortgage money at anything above 6% (giving you a yield of 5% or so after origination costs + servicing costs) thanks to Zimbabwe Ben. WTF would you bother with that? 150bps to be exposed to the American middle class, which your patron is intentionally trying to destroy?
There will be a strong bid for USTs for many years to come.
Ba Ba Ba Boo-Yah!!!
RoboT- I'm guessing you must have gone to uconn-there's no chicks at wes with that kind of body... just to clarify
you are a legend, bro!!!
Keep it up
too funny robo.
lind-waldock: "with commodities you don't have to worry about p/e ratios or ceo scandals"
correction: with bailout nation you don't have to worry about p/e ...
looks like the news from playboy must have excited buyers of private media (prvt) as it penetrated 1.00 this morning and surged to a whopping 1.20 before deflating back to 1.00 then going back for more late in the day, surged to 1.10
http://www.prvt.com/products.php
playgirl which is ahead of the curve went to an online only magazine this year and is planning on an all nude photo shoot of levi johnston next month. when asked (in a behind the scenes interview) by his body guard if he's hung, levi said "we'll just have to see". such a good promoter. i smell movie deal.
http://www.vanityfair.com/video?videoID=35763261001&lineupID=14192752001
the gif file - did the guy survive the pile driver or what ever - his neck looks like it snapped
that was the kevin randleman VS Fedor fight. Not only did Fedor survive the suplex he won the fight and is currently the #1 ranked heavy weight and primary purchaser of Fed treasuries....:p
That was the Kevin Randleman VS Fedor fight. Not only did Fedor survive the suplex he won the fight. He's currently the #1 ranked MMA heavyweight.
I hear what you're saying about the spiraling debt but what is the alternative? If they didn't do this, the economy will grind to a halt. Everybody will be jobless and how will the economy come back up again then? I know I am as concerned as you are but I cannot think of any solution to the economic mess we are in.
Evelyn Guzman
http://www.debtchallenges.com (If you want to visit, just click but if it doesn’t work, copy and paste it onto your browser.)