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Hi-Fi Robots Prepare for Quarter End
Next week is the much heralded "quarter end" where thousands of fund manager's jobs are on the line. Any and all efforts were made to keep the tape in check this week in order to prepare for the usual marking up ceremonies. Greek debt implosions, N. Korean torpedoes, and horrid housing data failed to send the tape lower.
NY Composite remains pinned at the highs. Will the Robots be able to keep it afloat next week?
Or do stocks get clotheslined as everyone seeks to "lock in profits" before the rest of the herd sells?
No doubt, the markets had a lot to digest this week.
However, most of the fabled consumer discretionary stocks were unfazed by all the news, including a Euro crash, spiking interest rates, a slew of mixed economic data.
Pretty much onward and upward to new 52-week highs:
It seems like upon the news of any convulsion, potential default, market destabilization, currency chaos, etc. consumer stocks actually go up even faster.
And on the other hand, the more typical large cap staid names like XOM with the strongest balance sheet in the world are sold off with the utmost urgency. Same thing with anything associated with "hard assets".
And the faster the U.S. government prints, the higher the U.S. dollar goes, and the bigger the gains in the trillion dollar Chinese FX portfolio, which in turn incites them to buy even more dollar-based Treasuries.
Pretty much a self-perpetuating liquidity machine on all fronts to drive markets higher and higher.
No particular squeezes or shanks to report today, other than the peculiar strength in FSLR, another low floater with over 20% sold short.
I expect a bunch of Chop Houses will be upgrading it next week to a squeeze going.
Funny how I heard on Bloomberg Radio last night how a hedge fund manager was describing how fund managers are "digging through the garbage cans" to find junk stocks coming off 52-week lows....
Yep, they were at it again today gunning the mortgage insurers:
Radian up 7%
MGIC up 12%
And today they found GLG Partners...
Just another day in the casino.
Nobody knows what is going to happen next.
Just gotta think which move Goldman Sachs (aka Wall St. PigMen) would do to make the fastest amount of money in the shortest period of time in order to inflict the maximum amount of pain possible on its biggest clients.
Just follow the money.....
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By far the best market wrap up on the web...great stuff! Who'd of thought you could mix comedy with finance. FWIW I'm expecting a political jolt or should I say coincidence over the weekend to spark things up next week.
Robo,
You dissing my solar puppies?
It's quater end alright, and pension fund managers are scared shitless:
They still can't understand Casino Capitalism rules:
And who spiked the punch? Was it Bubble Ben again?
The party ain't over yet so enjoy it while it lasts...
FSLR is far from a junk company--it is certainly the strongest solar competitor. But it does have wonderful volatility--the annualized returns from selling puts on it are unbelievably tasty.
Maybe the run up in mortgage insurers and retail signals that Quantitative Sleazing 2.0 will be the Play-at-Home version with fresh fiat for Joe Sixpack to spend on his McMansion payment and Suzy Sixpack to spend on Coach and Ann Taylor accessories.
When is this house of cards falling? I never imagined it would endure this, but hey.. silver is cheap!
when is it going to jump over $20??? JPM has a death grip on it
Silver to make its move now. It will be steady, but it will push to $25 by the end of summer no doubt! JPM's Market Manipulators have to move to the other side now. The furnace is getting too hot.
It fell...this is all an illusion.
There may be a slight pullback to dig in for the opening of the Hollywood Futures Index, but with Grease (Hot Fire! jokes on you 'wet and wild' 'Merica! too bad you fail to get heated) said and done, or whatever the hell was ever going on over there (debt crisis??? Italy/Britain/Japan anyone? not to mention the US....) the markets are primed for a big move to the upside. Inflation is cruising at 10% (http://www.shadowstats.com/) unemployment is moving higher and higher (this helps the big firms...fat off the hog you know?), and Bam wants to empty the Treasury every way possible ("Housing bailout? Yes we can! Pharma/Insurance bailout...call it health care...yes we can! Pay off the banksters? Oh hell yes!" All quoted from White House notes). However, if the currentseas lose their value, and stocks push higher, does it matter? Beat inflation, then you have a winning stock. Or take the easy road, get some bullion coins.
Beat inflation,
Deflation,
Devaluation,
Default,
Confiscation,
Regulation,
Nationalization,
Taxation,
Fees,
The House,
and Your Own Mind....
THEN, ladies and germs, you have a winning stock.
My best back in the day was 4 Kids Entertainment, in at $6 out at $36 when Pokemon first washed ashore....man...a six bagger....but the high was like $90 or something....
I love how they eeked out a positive SPY. What is the percentage updays in March? Some improbable percentage?
Maybe go away in May will work this year...........
Again, it's going to take some outside shock (like a potential war, assasination attempt, major terrorist event, etc.) to bring this puppy down. But if it happens, look out. The market is skating on very thin ice. If it cracks much, everything comes down.
My stragegy has been to buy near expiration, cheap, out-of-money calls on TWM. Looking for a >60 point move. It may never happen, but if it does, the return will be supersized.
FWIW.
I'm in elementary school and I know the market is collapsing and I guess that Bernanke doesn't. (My dad knows I'm typing this. Seriously.)
UNBELIEVEABLE! HOW FAR CAN YOU GET INTO IDIODICY!?!?!?!?!?!?!?!?!?!!?!?!?!?!?!!?!?
"It seems like upon the news of any convulsion, potential default, market destabilization, currency chaos, etc. consumer stocks actually go up even faster." - The bigger the crash, the bigger the bailout.
The new industry slogan: "We DON'T make money the old fashion way. We get bailed out"
Oh, I forgot this one.
Somebody "made their year" in one day.
Up 210%.
Something about the last 2 days has my spidey sense tingling. Next week very well could be a good test of just how many tricks the big boys have left to keep the party going. This is not based on TA at all, just a gut feeling.
"Next week is the much heralded "quarter end" where thousands of fund manager's jobs are on the line. "
that says it all right there.
fear & control baby.
always a winning trade...until it isn't.
Anyone look at the SPY in afterhours. It went from 116.60 to 117.30, allmost the high of the day. Who does that, lest Biggie Ben and his cronies.
Will NBG climb back to 2007 levels?
2007 was a vintage year!
Darn it! A rare shank and squeeze-free day on a Robo post! The art is always quite good in the Robo Room, so I always try to check it out if possible...especially if it has photos of pigmen. But that is just for, um, drill. The chickie "rolling in dough" was a nice touch.