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Frontrunning: August 18

Tyler Durden's picture





 
  • PPI down 0.9%, Core down 0.1%, more than forecast - Byron Wien: "most certainly last month of deflation" (Bloomberg)
  • July housing starts of 581,000 down 1.0% versus June 587,000 (Bloomberg)
  • CIT second-quarter loss narrows, posts reserves for bad loans (Bloomberg)
  • UK inflation is presumably high as booze, video game and DVD prices rise, a sure sign "recession eases" (Bloomberg)
  • Democrats urge Obama to keep government-run health-care option (Bloomberg)
  • flag@whitehouse.gov canceled (Politico)
  • Crudele: Now's a pretty scary time to be investing in the markets (Post)
  • It's not just greed that drives top bankers (Telegraph)
  • Forsyth: Still exiled on Main Street (Barron's)
  • Guaranty bid deadline is today (Reuters)
  • Growth in "Potential GDP" shows limited potential (Hussman Funds)
  • A balancing act (Fund Strategy)
  • Weak consumer spending will last for years (Credit Writedowns)
  • The Swedish model (WaPo)
  • Lynn: Deflation theory is a lemon we have all ben sold (Bloomberg)
  • Unemployment spikes drive foreclosure (WaPo)
 


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Tue, 08/18/2009 - 08:58 | Link to Comment zeropointfield (not verified)
Tue, 08/18/2009 - 09:00 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

i feel disgusted when i read bloom. they really are morons

Tue, 08/18/2009 - 09:01 | Link to Comment Sqworl
Sqworl's picture

CB: The platform is set...he who pays, picks the content...;-)

Tue, 08/18/2009 - 09:04 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

hey Sqworl; whats the deal with the Taleeb letter; he really lowered himself if he thinks Cameron is the solution in the UK; there are no solutions among mainstream politicians.

Tue, 08/18/2009 - 09:24 | Link to Comment deadhead
Tue, 08/18/2009 - 09:26 | Link to Comment Miles Kendig
Miles Kendig's picture

Yep. two sides of the same iridium coin.  Taleeb stil has to figure that one out, unless his denial stretches that far as well..

Tue, 08/18/2009 - 16:11 | Link to Comment halo (not verified)
Tue, 08/18/2009 - 09:31 | Link to Comment Raymond Shaw
Raymond Shaw's picture

Cheeky,

Brown is no prized possession my friend.  But I am not sure about Cameron either.  But I wouldn't mind change in the UK Government.

- Raymond.

Tue, 08/18/2009 - 09:40 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

hey man, you know i agree with you; bit its  high time for UK to see some lib-dems in charge. I know its none of my business, but I'm only saying; it would be nice to see a third party running things. oh check out this vid ... Brown's reaction after Cameron confronted him with elections issue ... http://www.youtube.com/watch?v=7ba7glghZ4w

Tue, 08/18/2009 - 09:48 | Link to Comment Raymond Shaw
Raymond Shaw's picture

I don't see Lib Dems coming into power unless Conservatives seriously screw up their chance in the next two (they will be re-elected most likely) terms.

Tue, 08/18/2009 - 10:05 | Link to Comment Sqworl
Sqworl's picture

CB: just sharing my inbox.  I see that it resulted in a nice debate...;-)))

Tue, 08/18/2009 - 09:18 | Link to Comment peoplesdemocrat...
peoplesdemocraticsocialistrepublicofmaryland's picture

Unfortunately, I think with Bloomberg, Marketwatch, etc., everything is "unexpected" and they are absolutely "clueless".

Fortunately we can go to those sites for amusement and come back to ZH for actual news and facts.

Thanks Tyler!

 

Tue, 08/18/2009 - 09:32 | Link to Comment Anonymous
Tue, 08/18/2009 - 10:30 | Link to Comment Raymond Shaw
Raymond Shaw's picture

So that's what you would say of Mr. Durden and others like Themis who have been unravelling the HFT debacle for longer than most of the news wires and advisory services.

It's simple, people who focus and don't get caught in the misdirection will see the moves happen.  Sometimes we just don't see them because of our particular bias, such as the positive point move in the Indices since March.

Expecting the unexpected is the job of a good trader.  Welcome to ZH my friend.

 

Edit: look at my discussion with Andy Dufresne under the post "VIX is Screaming" and you shall see what I mean.  http://www.zerohedge.com/article/vix-screaming#comment-39093

Tue, 08/18/2009 - 09:10 | Link to Comment Groty
Groty's picture

Art Cashin just said we could soon see "historic trading".  A veteran trader makes a provocative statement like that and Joe Kernan didn't think to ask Art what he sees to make him think that.  He's only been pretending to be a journalist for 20 years.  What a joke. 

Tue, 08/18/2009 - 09:13 | Link to Comment Sardonicus
Sardonicus's picture

It is pretty sad state of affairs when a belligerent redneck like walstreetpro has a better grasp of economics than the people compiling and presenting the news.

gawd I love his stuff

Tue, 08/18/2009 - 09:16 | Link to Comment Mos
Mos's picture

Why did he mean by "historic trading"?

Tue, 08/18/2009 - 09:29 | Link to Comment I need more cowbell
I need more cowbell's picture

I doubt he's talking about a melt-up...

Tue, 08/18/2009 - 09:52 | Link to Comment Groty
Groty's picture

Here's the vid.  Art did mention the BDI at the end, no thanks to Kernan.

 

http://www.cnbc.com/id/15840232?video=1218115845&play=1

Tue, 08/18/2009 - 10:03 | Link to Comment Sqworl
Sqworl's picture

Art Cashin back in the day on the floor in the blue room was know only for taking sports bets!  Talk about cash for clunkers!!! lol

Tue, 08/18/2009 - 10:34 | Link to Comment MinnesotaNice
MinnesotaNice's picture

Agreed... "market is ahead of itself" " "historic trading over the next 8 weeks" "potentially a very exciting period" "you can't live by inhaling alone, you have to exhale once and awhile"... and what is this about "worried about going into Ramadan"... what impact does that have on the market?

Tue, 08/18/2009 - 11:19 | Link to Comment Anonymous
Tue, 08/18/2009 - 16:11 | Link to Comment halo (not verified)
Tue, 08/18/2009 - 09:11 | Link to Comment Anonymous
Tue, 08/18/2009 - 09:16 | Link to Comment Anonymous
Tue, 08/18/2009 - 09:27 | Link to Comment Miles Kendig
Miles Kendig's picture

The person looking at you from the mirror.

Tue, 08/18/2009 - 09:23 | Link to Comment Anonymous
Tue, 08/18/2009 - 09:27 | Link to Comment Anonymous
Tue, 08/18/2009 - 10:07 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

create a profile and you can also post nasty shit like all reg users do.

Tue, 08/18/2009 - 09:33 | Link to Comment Anonymous
Tue, 08/18/2009 - 09:50 | Link to Comment crzyhun
crzyhun's picture

Today is a/may be a dead cat bounce....I got close enough to my predictions to feel satisified. Although, I really rather not experience March again.  

Nobody ever thought that this administration could be this clueless. This in an of itself is a deep worry. Wonder what dearest leader was thinking as he looked at the grand canyon.

This experiment will end badly I am afraid.

Tue, 08/18/2009 - 09:54 | Link to Comment Anonymous
Tue, 08/18/2009 - 09:59 | Link to Comment RobotTrader
RobotTrader's picture

Keep an eye on this:

 

Tue, 08/18/2009 - 10:13 | Link to Comment Anonymous
Tue, 08/18/2009 - 10:15 | Link to Comment Sqworl
Sqworl's picture

Thanks Robot: but still down on the fee from my 1 share purchase...;-(

Tue, 08/18/2009 - 11:07 | Link to Comment Anonymous
Tue, 08/18/2009 - 11:08 | Link to Comment jdoo
jdoo's picture

Accidently tried posting this as anon:

Here's a great bloomberg piece on the 'cash for trash' trend in equity markets

http://www.bloomberg.com/apps/news?pid=20603037&sid=a8bE_SJ1WAiI

Tue, 08/18/2009 - 11:12 | Link to Comment Anonymous
Tue, 08/18/2009 - 11:36 | Link to Comment jdoo
jdoo's picture

The link works for me, however here is the full text in pastebin

http://pastebin.com/m64a8f41d

Tue, 08/18/2009 - 11:26 | Link to Comment Milton
Milton's picture

I can't believe you missed this one:

Size Doesn't Matter

http://www.nydailynews.com/money/2009/08/18/2009-08-18_dishin_dirty_on_bernie.html

 

Tue, 08/18/2009 - 16:10 | Link to Comment halo (not verified)
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