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Frontrunning: December 6

Tyler Durden's picture





 
  • Reuters 2011 Investment Outlook Summit LIVE (Link) John Taylor speaking now.
  • Irish Vote Likely To Pressure Euro (WSJ)
  • Bernanke Says Fed May Take More Action to Curb Joblessness (Bloomberg)
  • Jobless Report Is Death of Keynesianism (IBD)
  • European Officials Split Over Bailout Fund Increase, EU Bond (Bloomberg)
  • WikiLeaks' Swedish servers may be under attack (AP)
  • Euro's Worst to Come as Trichet Fails to Calm Crisis, Top Forecasters Say (Bloomberg)
  • China's credit bubble on borrowed time as inflation bites (Telegraph)
  • Jim "20% Upside" O’Neill: Backing the BRIC Consumer (FT)
  • Inflation Risk Is Low, Fed Says (WSJ)
  • Mort Zuckerman: How to Fight and Win the Cyberwar (WSJ)
  • Bush Tax-Cut Deal With Jobless Aid Said to Be Near (NYT)
  • “North Korea Says Tensions `Extreme' as South Korea Plans Drills (BusinessWeek)
  • U.S. steps up pressure on China to rein in North Korea (WaPo)
  • Australia Central Bank Set to Pause on Benchmark Rate (BusinessWeek)
  • Krugman: Let’s Not Make a Deal (NYT)

Economic Data:

  • Switzerland Foreign Currency Reserves 212.4B.Previous 211.9B.
  • Sweden Service Production Index SA 0.5% m/m.Previous 0.0% m/m.
  • Sweden Service Production Index WDA 4.5% y/y.Previous 6.2% y/y.
  • UK New Car Registrations -11.5% y/y.Previous -22.2% y/y.
  • EC Sentix Investor Confidence for December 9.7 - lower than expected. Consensus 11.0. Previous 14.0.
 


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Mon, 12/06/2010 - 09:44 | Link to Comment velobabe
velobabe's picture

It is widely known that J.P. Morgan (NYSE: JPM) holds a giant short position in silver.

 

 

ZeroHedge opines that "JP Morgan is now intent on cornering the copper market, as the monopolist firm stretches its FRBNY-facilitated muscles in an attempt to stem the massive losses incurred via its silver short."

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2010/12/06/benzinga668905.DTL#ixzz17L53q6sQ

Mon, 12/06/2010 - 09:53 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

"The predator (J.P. Morgan) has now become the prey. Every tick higher in the price of silver brings more pressure on the bank to cover their short position. This in turn puts more upward pressure on the silver price."

Except some of the many wishing to stand for physical delivery of their silver are being paid off in fiat dollars with a fat bonus to take the dollars.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2010/12/06/benzinga668905.DTL#ixzz17L6rovsM
Mon, 12/06/2010 - 10:15 | Link to Comment eigenvalue
eigenvalue's picture

To annihilate JP Morgue, you need a hyperbolic move, for example a move from the current level to, say, $70 within 5 months. Otherwise, JP Morgue will have plenty of time to heal the wound and strike back again.

Mon, 12/06/2010 - 10:54 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

Plus the CFTC should step in and stop JPM (and other losing shorts) from settling it's short losses in fiat dollars....and paying winning longs a premium for dollar settlement.

Mon, 12/06/2010 - 09:56 | Link to Comment CH1
CH1's picture

Keep this idea in the back of your mind:

Big money was made in Iraq and Afghan. It is waning. The boys need something to replace the revenue stream.

Cyberwar is the replacement.

Mon, 12/06/2010 - 10:01 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

War consumes more resources faster than any other human endeavor.

How many resources will cyberwar consume?

....or, put another way....

How much will be added to GDP due to expending resources in a cyber war?

Mon, 12/06/2010 - 11:32 | Link to Comment CH1
CH1's picture

How many resources? As many as they can get their hands on and as many as they can get the sheep to clamor for.

Mon, 12/06/2010 - 10:21 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

"One suggestion recommended by Mr. Clarke is that the our government create a Cyber Defense Administration."

After 'wikileaks' there is suddenly a great interest in creating another flocking government bureauracy to stop 'cyber attacks'....total bs. TPTB have now learned that no one is watching the 'approved tv financial channels' and are instead discussing current political and financial events on the internet. Gotta put a stop to that!!!

Mon, 12/06/2010 - 11:33 | Link to Comment CH1
CH1's picture

That's probably about right.

FYI: http://ascolibooks.com/truewords/?p=197

Mon, 12/06/2010 - 10:28 | Link to Comment Sudden Debt
Sudden Debt's picture

Better start buying that upgrade from McAfee :)

Mon, 12/06/2010 - 09:57 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

"Bernanke Says Fed May Take More Action to Curb Joblessness (Bloomberg)"

'more action'? rofl

Bloomblab has taken over the 'Onion's' old gig.

Mon, 12/06/2010 - 10:06 | Link to Comment Paper CRUSHer
Mon, 12/06/2010 - 10:11 | Link to Comment SheepDog-One
SheepDog-One's picture

The Bernank may take more action by printing  more money and handing it to the banks for free to 'curb joblessness'? Oh ok.

Mon, 12/06/2010 - 10:16 | Link to Comment A Man without Q...
A Man without Qualities's picture

Senior Chinese official admits to "unreliability" of GDP data...

http://www.telegraph.co.uk/finance/china-business/8183389/Wikileaks-Top-...

Mon, 12/06/2010 - 10:17 | Link to Comment TaggartGalt
TaggartGalt's picture

Twitter is censoring #wikileaks from its "trends".  

http://bubbloy.wordpress.com/2010/12/05/twitter-is-censoring-the-discuss...

 

 

Mon, 12/06/2010 - 11:20 | Link to Comment kaiserhoff
kaiserhoff's picture

Thanks to all the Tylers and Marla for the occasional links to IBD and Barrons, the least crazy among the MSM.

Do NOT follow this link or you will be banned from the site!