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Euro-Yen Carry Trade Tries To Break DXY, Push Market Higher, Fails
Something is definitely off here. Usually the market would follow a move in the Yen-Euro carry in lockstep. Not today.
And again - third time is not the charm...
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Elizabeth Warren on Bloomberg right now saying TARP was/is a failure.
Lloyd Blankenfein begs to differ.
and they actually let her complete that thought
without cutting her off mid sentence by going
to a segment of cramer screaming dow 20,000?
TARP's not a failure, in fact it's working as designed. A tarp is a cover to protect (hide) what is underneath, so by definition it is a wonderful cover(up).
we have a winner!
You trying to tell me AIG is not really worth $6 billion?
Just a bit of jitters hitting the market. G-20. Housing report. Reality. Just a bubble in the LOx line. We'll head back to DXY 76.0 on just absolutely fabulous earnings reports. The much vaunted correction will probably have to wait a little while yet.
Of course, Einstein later admitted he was wrong. God does play dice.
But Einstein ended up being right, or at least, not being nearly as wrong as he thought he was... We talking about the cosmological constant, right?
He did not initially believe in the probabalistic elements in quantum mechanics. Heisenberg Uncertainty Principal/Schroedinger's Cat etc. Virtual particles. Experimental evidence proved these out despite Einstein's rigorous efforts to the contrary.
On the cosmological constant (his "greatest blunder"), he was right but he never liked the expanding universe model. So it was kind of a bummer to be right about that.
I love it when you talk like that. :>)
i love the smell of blood late afternoon, good luck yo all!
Do the banks need to puke equities to manage balance sheet for quarter end? happened a bit at q2 end. only to continue ramp in between on earnings "beats"
Puke equities. I like that. Probably the most graphically accurate choice of words possible.
S&P is only off 1.3%. Dow less than a percent. Doesn't strike me as a break for the exits.
Interesting that banks and real estate got worse in the last 10 minutes. No one wants to hold this stuff overnight.
Is the market once again worried about overnight news?
Dow... Bwahahaha You better check the NYA and RUT.
Several CRE big players are hitting the wall. No mas.
digalert, to complete ur thought, tarps are especially good @ covering up dead bodies
The markets are being managed by the gang. They will only reverse strongly (as they should) when the gang losses control of the markets due to one of the serious underlying problems exploding or to private investors not part of the gang getting nervous. While the latter could be happenning I doubt it is the case. I think this is just a gang designed movement to widen range upward and "consolidate" the rally for the (I believe) final leg up to around 1,120. Be careful... size your positions and place stop losses... More specifically, this movement down is all dollar driven... is there any variable more under control of the gang? Particularly when the G20 meeting is going on today and tomorrow?
In addition to my previous comment about the gang... will 2:22 turn out to be the agreed upon time to reverse the dollar appreciation and the stock market move down? Would be very classy.
from ex-FED guy John Jansen
"Via a friend of the blog:
LARGE BUYER ($5.6 BLN NOTIONAL) OF PUTS ON THE S&P YESTERDAY AFTERNOON RESPONSIBLE FOR THE DAY’S ROUND TRIP. ONLY $260MM PREMIUM, SO OUT OF THE MONEY BUT STILL A SEEKER OF PROTECTION…"
can anybody confirm this? what strike, month?
Coordinated efforts on pumping the dollar. Still some resistance above, clear that and we may have trouble.
Did I just hear Cramer call for a correction? To buy on the way down???
-Michael
ass wipe said "we have been telling people to take profits" not according to his appearance yesterday....
Cramer uses his 3 PM CNBC appearance to hedge either last nights talking points or what he's going to say tonight.
Julian Robertson - CNBC
1. Paying the piper is not a question of if but when
2. Long rates going much higher
3. Hey bye bye bye Jim: 20% rate 20% inflation and 5% nominal equity return is not particularly "good"
4. China and Japan shift their buying habits and the Us iss in for some serious pain - "how do you let yourself get into this position?" Blankfien, Dimon, Geithner, Bernanke, Anyone?
Ahhhh, I was starting to think the last-hour rally would not happen. They at least have to try to make the Dow go green so everyone thinks it was a decent day.
End of the day push looks to thwart the whole "not this time" part of the article.
XLF and IYR bounce off their 20EMAs. Let's try again...
At the close, more like they are now sitting squarely on the 20 EMA after they bounced 30 minutes earlier.
You have it backwards. The Yen and Euro don't drive anything. That's like saying China drives the U.S. economy. The dollar drives all forex markets.
Mother of Hades, things are getting hot. Cable just dropped 100 bps in 5 minutes. USD/JPY down 50 bps in 15 mins. Figure out the GBY/JPY.
all major currencies fell against the dollar. the CAD came off 200 pips. it seems someone with deep pockets has brought out the scalp against small specs. its brutal.