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Daily Summary
To recap our earlier prognostications:
"Another day in which the market was driven by the ongoing dollar cataclysm, the EUR-JPY carry trade, and some speculation on what gold will do. Also, another day in which stock direction was absolutely not based on fundamentals, and momos gunned every move higher on micro volume and every reversal was meet with a huge volume ramp."
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I guess Andrew Cuomo has been reading ZH re: threat to go after BAC execs....saw it on cnbs dot com a few moments ago...I presume ZH will have this story about in 5....4....3....
congrats TD...it is people like you and your team that is keeping the heat on.
And for the staffers at the NY AG office monitoring this, sincere thanks to you from a fellow New Yorker.
Yes, it is indeed funny to read this post after reading it as this morning's prediction.
Another tipoff: the junker bunch (AIG, FNM, FRE, C) were circling the drain today, down 10, 8, 6, and 3.5%, respectively.
be honest TD....you were confident all day, BUT, after those horrific consumer lending numbers at 3:00 p.m., you had to be a little nervous about your prognostication, weren't ya? well, weren't ya?
Is anyone else hearing rumors of "SSgA S&P 500 Index Fund (SVSPX)" possibly "breaking the buck" regarding the cash-equivalent portion of the fund?
No, but since you mention it, wouldn't be surprised. However, STT seems to be protected from high up. You realize they are the administrator of the CPFF? makes sense. no conflict of interest at all...
As with many things in this rally - the bigger the hole in the more systemically important balance sheet, the better the performance of the stock, reflecting the award of free options, courtesy of the US taxpayer.
If something like what you say is presently occurring, it should be in conjunction with stock lending problems, or it may be a hangover from Lehman or other pre-existing loss that they can no longer kick down the road.
no surprise here. STT has been insolvent imo for some time, the magic banking
took care of the details.
thank god a COP is finally showing up. Let the thieves hang.
soon one world currency will make the dollar trader really go away. in fact,
might as well just dilute our debt along with China's right into the mix. this
way we get to keep California without trading it for China debt forgiveness,
and find a way to just have a financial "do over"; the world once over.
that's right every one put their "adjusted GDP" into the mix, coin a new
world currency, and presto new money. now we can start all over again.
lever up 60X again, create life insurance backed securities, health care
backed securities, and make a mint the second time again. if that aint winning,
i dont know what is.
now that the DOW or the One World stock exchange will be opening soon,
we can restart the entire stock market. no need for a depression 5x the size of
1929. no need for a dow 500. well i guess elliott wave is gonna have to wait
another 300 years for some more data points....prechter is smart, he will
figure it out. we have one world currency, nuclear disarming, and climate control
to worry about. now i have a lot of solar wafers to sell you....let us begin.
DOW / SP500 / FTSE daily uptrend still looking tired with ongoing topping action.
Weekly chart remains bullish.
Monthly chart remains bearish.
more:
http://www.zerohedge.com/forum/market-outlook
blackebitda,
your plan is not realistic. we should sell cali to china. we can pay off the debt, get rid of nancy pelosi et al, and share a border with a booming manufacturing nation which will attract all the illegals currently here, not to mention the possibility that americans can sneak across the worder to work illegally and send money home to our families in the us. win-win.
china i dont think manufactures, they distribute, which is actually better; reduces protectionism. nevertheless, as long as they redistribute nancy and she does not infect another liberal state. i like the send money home to families bit though.
How do I get some SDR Bills?