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Frontrunning: January 25

Tyler Durden's picture




 
  • Who knew: Robert Rubin is a Keynesian - "America must cut its deficit but not in haste" (FT)
  • Uncertainty Over Economy Clouds Obama Speech (NYT)
  • Stimulus Improves US Outlook, Says IMF (FT)
  • Fed Likely to Press On With QE Even as Business Lending Rises (BusinessWeek)
  • EFSF first bond issue - 43 Billion Euros of Orders From 500 Investors (Asymptotix, WSJ)
  • Madrid Tells Banks to Boost Core Capital (FT), causing Spanish spread weakness
  • Japan's central bank keeps lending rate, lifts growth forecast (Xinhua)
  • India average inflation during 2010-11 to jump up to 9 per cent (Economic Times)
  • KKR Gets Surprise Help in Fundraising From Bernanke, Trichet (BusinessWeek, h/t 5U)
  • U.K. Economy Contracts in Fourth Quarter (WSJ)
  • NYSE Gets Final Approval to Create 'Bond Liquidity Provider' Program (SecTech Monitor)
  • Paulson Recaps Big Bets in Year-End Letter (Dealbook)
  • High-Frequency Trading Is 77% of U.K. Market, Tabb Group Says (Bloomberg, h/t Jonas)
  • Muni bonds taking a double hit (MarketWatch)
  • Offshore Banks Adapt or Die in WikiLeaks Era (Bloomberg)

European Economic Data:

  • Germany GfK Consumer Confidence Survey for February 5.7 – higher than expected. Consensus  5.4.
  • France Consumer Spending for December 0.6%m/m 0.4% y/y – higher than expected. Consensus 0.3% m/m 0.5% y/y. Previous 2.8%.
  • Switzerland UBS Consumption Indicator for December 1.841. Previous 1.63.
  • UK GDP -0.5% q/q 1.7%y/y – lower than expected.Consensus +0.5% q/q 2.6% y/y. Previous 0.7% q/q 2.7% y/y.
  • UK Index of Services (3mth/3mth) 0.5% - lower than expected.Consensus 0.8%. Previous 0.6%.
  • UK Index of Services 0.0%m/m – higher than expected.Consensus -0.4% m/m. Previous -0.4%.
  • UK Public Finances (PSNCR) 25.5B – higher than expected. Consensus 16.3B. Previous 16.8B.
  • UK Public Sector Net Borrowing ex Interventions 16.8B – lower than expected. Consensus 20.0B. Previous 23.3B.
  • UK Public Sector Net Borrowing 15.3B – lower than expected.Consensus 18.0B. Previous 22.8B.
 

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Tue, 01/25/2011 - 09:32 | 902159 Cdad
Cdad's picture

1/25

FrontTipping...[for you guys that trade Tyler Durden Actionable Market Coverage]

 

1.  Stocks priced for D. Tepper, especially those way up in the freakin' clouds with PEs equivalent to 1/4 century's worth of earnings in the intraday price, die today [especially since each and every other company in that area has instantly jumped off a cliff right after reporting earnings...and the cliff in front of this cloud is the biggest of all cliffs].  Duh.  117 is your first bogey.

2.  Burritos flame today...as Food Inflation approaches Profit Margin carrying a knife...even as folk try to sue the maker of 99 cent burritos for having binders in their beef [which is apparently oats].  Imagine that, a lawsuit for a natural food additive that takes the place of Novartis products often required after eating $11 burritos?  What an odd world.

3.  European drug companies that cannot get new drug ideas approved now cannot even get alcohol swabs right.  Good grief.  Why this stock isn't 25% lower than where it is now, based on months of incompetence written about in the press, is beyond me.  Magic levitation apparently continues to hover over top of hopeless futures.

4.  The world's largest maker of zombies rises today, back towards all time highs, where the stock will eventually mark the world's largest double top.  Sell it when you see it.  Harry will lament.

5.  The world's most hyped arranger of travel is about to come up for Whack-a-Mole good fun.  It's a good company, but at this point folk are looking for charts that seem to want to be pushed over the cliff they have been standing on for six months now.  If you look at this chart, you will see the Cliffs of Freakin' Dover.

6.  Airline stocks will catch a bid today...but I still would not buy them.

7.  Robo postings of 12 month charts of things that have already happened will decelerate radically...causing a falling out between him and Harry.

8.  The lights are out at L. Blankfein Wildest Dreams Park [oil futures].  Curious?  I wonder why?  Oh yeah, oil is priced for STUPID because of CHINA which is approaching freakin' collapse because of INFLATION.  Watch for the first round of dip buyers at $85 per barrel.  Watch because those guys will get killed right quick, I expect. 

9.  Gasoline will head lower because weak American consumers cannot afford it here, and if the criminal syndicate known as Wall Street keeps the price of gas here, the drinks will no longer be free at the Roach Motel [SPY].  Self-interested, geeked up bankers waiting for their bonus checks will take the price of gas down accordingly.

10.  Maybe this is the day that criminal syndicate Wall Street bankers will let the stud man USD out of his locked room over at the offices of Goldman Sachs.  If he gets out, you know who will be grasping the rail...because really...no one really thinks she is going to become the Reserve Currency of the World...right?  I could not believe that one from yesterday.  Literally, L. Lohan for World President?  OMG.  Count me as OFF THE FREAKIN' RESERVATION ON THAT IDEA.  Little Miss Euro blows chunks if the stud man gets out...as she is going lower...I assure you....little tramp.

 

Good luck out there in the wasteland that Ben Bernanke made [when he decided to go ahead and forget about that whole Moral Hazard thing, loosing upon our nation and the world a greed like no other greed on Earth...that of the criminal syndicate known as Wall Street.]  Sorry Egypt.

Tue, 01/25/2011 - 09:26 | 902160 101 years and c...
101 years and counting's picture

BDI down 3.9% to 1292.  Oil now lower than pre QE2. 

Tue, 01/25/2011 - 09:36 | 902187 Oh regional Indian
Oh regional Indian's picture

Thanks for the BDI reminder. Watch it's inexorable fall to triple digits... and the DOW follow suit? Stranger things have happened.

Beware the ides of March and all.

ORI

Tue, 01/25/2011 - 09:46 | 902203 Sudden Debt
Sudden Debt's picture

That's because the economy is growing so fast. When the economy gets worse, the BDI goes up and oil also....

 

ECONOMICS 2.0

            THE REVISED VERSION

Tue, 01/25/2011 - 09:32 | 902172 Oh regional Indian
Oh regional Indian's picture

To call the ESFS investors, well, investors is like calling the residents of San Quinten guests. So many ways they can keep the paper game going. So many black/slush accounts were meant to facilitate this very time.

Game on! Rather End Game On!

ORI

http://aadivaahan.wordpress.com/2011/01/21/accidental-lives/

Tue, 01/25/2011 - 09:33 | 902176 Sudden Debt
Sudden Debt's picture

I FEEL SO EUPHORIC WHEN I READ ALL THIS!!!

Tue, 01/25/2011 - 09:37 | 902186 Catullus
Catullus's picture

Rubin: da mihi castitatem et continentiam sed noli modo

Tue, 01/25/2011 - 10:00 | 902239 Sudden Debt
Sudden Debt's picture

DID ANYBODY BUY SOME BAC PUTS? :)

MINE ARE ROCKETING BABY!!!

Tue, 01/25/2011 - 10:03 | 902245 Cdad
Cdad's picture

Nope...but I am short the bank in charge of silver manipulation and mortgage fraud, both...where the price action has been frustrating.

Tue, 01/25/2011 - 10:05 | 902246 Salinger
Salinger's picture

SD / it's none of my business but your avatar is really annoying

Tue, 01/25/2011 - 10:03 | 902244 Salinger
Salinger's picture

funny that on Bloomberg today they have made quite a deal about GM putting on a third shift in Michigan somewhere (made up of laid off workers) and not a word about J.C. Penney closing its operation in Sacramento laying off 350.

I am becoming more and  more convinced that Bloomberg is being groomed as the new CNBS - I mean they even have Doug Kass ahhh... I mean Barry Ritholtz co-hosting on BB radio this AM -

 

http://www.sacbee.com/2011/01/25/3348869/jc-penney-closing-mcclellan-par...

Tue, 01/25/2011 - 10:07 | 902256 Grifter
Grifter's picture

Hey Tyler, was gonna post this last night for Frontrunning today but never had a chance to sit down at my computer...gotta think the below will be bullish for silver:

http://www.engadget.com/2011/01/24/3m-touts-capacitive-touchscreens-with...

The takeaway:

By employing silver as its conducting material, 3M says it has made it possible to shrink the circuits at the edge of a touch panel by a whole order of magnitude, resulting in finger-friendly screens unhampered by bulky bezels.

I realize the amounts involved are probably miniscule, but the fact that touch is now practically standard on phones & we're still at the beginning of this whole tablet/slate/pad craze, gotta think this will exert pressure on silver supply from the industrial side.

Tue, 01/25/2011 - 10:35 | 902378 overmedicatedun...
overmedicatedundersexed's picture

the continuing story that may be the "event" that brings it all down: not a black swan but a

"mulatto swan " the saga continues:

""During the course of my employment," Adams states in the affidavit, "I was told by senior officers in the City and County of Honolulu Elections Division to stop inquiring about Senator Obama's Hawaii birth records, even though it was common knowledge among my fellow employees that no Hawaii long-form, hospital-generated birth certificate existed for Senator Obama."

"I can go get my long-form, hospital-generated birth certificate," Adams told WND. "And so I don't understand, this whole controversy should have been settled three or four years ago in about five minutes."

Nor does Adams feel the short-form Certification of Live Birth is authoritative documentation proving that Obama was born in Hawaii.

"My basic assumption is that he wasn't born there," Adams said. "Certifications of Live Birth were given to people who were born at home, or to people who were born overseas and whose parents brought them back to the islands. If his parents were U.S. citizens, or if one parent was a U.S. citizen, as was the case with Obama, the family would apply for a Hawaiian birth certificate when the parents came back from overseas. That's normally how you would have gotten on [a Certification of live Birth] in the 1960s..

will mr x who has used multiple names the last being Obama..get thrown under the bus..if stories like this continue will the MSM pick up..seems they are doing so but very slowly..

the implications to the country of a resignation or removal are left to others to comment.

but this story is so big it is the cover up of all cover ups..

if we here on zh are the skeptics I think we are this story of who exactly is Obama is meat to lions.

Read more: Hawaii official now swears: No Obama birth certificate http://www.wnd.com/?pageId=254401#ixzz1C3bexQbo

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