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Mutual fund monday was toasted bitchez!
Has anyone seen what the banks are projecting for third quarter earnings compared to 1st or 2nd?
Or maybe I should ask how many downward revisions have the banks announced regarding their own earnings?
a lot of banks are letting go staff. Can't be good.
I thought he looked familiar...
aaaahhh, but that is COST SAVINGS to their bottom line. That is most of what the rally has been built on. Lay offs are Greeaaaat!!! Dow Gazillion!
I am anxiously awaiting Q3 from the TBTF's. Since they can basically choose what they report in earnings it will be interesting to see what EPS they broadcast to the market.
My guess is they all show lower numbers so that they can assure that Bennie will make it rain at the next meeting. If they all report more blow-out, made up numbers again then they kind of shoot themselves in the foot for the next round of free digits.
The boyz got a bit ahead of themselves painting the tape to dress up Q3. They'll hang tough for 3 more days. The odd September runup play didn't seem to stampede the humanoids. Better luck next time.
DOW still above 10800 but the dive was pretty scary at the end.
We call this the FCSE, or Fiat Currency Stock Exchange. Equities soar in response to trillions of new "printed" dollars. Of course, holding IBM at 56,000 in 36 months will buy you a pint of bitters at the local pub and a loaf of bread at the new wheat mart down the lane.
US jobless rate may rise to 10.1% by mid-2011 – San Francisco Fed
That's just codespeak for 20%.
Ok, I read that as "Useless Job Rate" not sure my subconscious was thinking their jobless rate estimate is useless or just measuring it is useless...but either way...
I think it is time for BULL capitilation to proceed with earnest...
would be logical so that's why I give it a 1% chance.
PigMen must be making a fortune playing this rally at the expense of their biggest clients. Most of which are probably short big.
JWN, COH, TIF all closed green today.
Even PNRA made a new high. Who else can afford a $14 breakfast and coffee?
My AT & T and Verizon made new highs. And I'm still getting about 6%, which is still 350 b.p. better than the 10-year Treasury. And I never expected to make an extra $4/share gain on this investment in such a short time.
6%? Ha! My WWE pays over 10% in dividends...just got it today. I think I'll hold on to that sucker no matter what.
You earn 1 percent a quarter After each record date the stock will drop One pc. data mining requires a lamp. Oh and let us know if they redeem you at par.
I checked out the chart, and frankly I'm not seeing it. You should know that I picked it up late August after it got crushed for non-business reasons, so in addition to the dividend, I also expect appreciation (eventually).
Your comment addresses the same exact worry that caused me to sell Q. Imagine my disgust when it was acquired within three months.
This is playing out just like 07'-08'. Everyone chasing yield, going ape shit over crappy stocks paying high yields. Fast forward a few months. Stocks crushed, dividends cut. Rinse and repeat.
Congrats on making money, keep tight stops.
LOL. Sounds like when everyone was excited about WaMu paying 11% dividend. RIGHT BEFORE IT WENT BANKRUPT!!! Don't be a sucker.
gonna be interesting to see if this bold prediction is correct
I was not sure where to put this but I know people here would be interested.
LOL... this time gold is different. It is the answer to everything because the US dollar and every other currency will go to zero... or maybe not.
POMO to the rescue TOMO!!!
Who would have figured that in the midst of the worst recession in recent history, the best performing sector YTD is Travel and Tourism?
I traded TA on the long side in mid 2009. It topped out at $8.75. It's down 62pc last 52 weeks. Odious data mining is kids play.
most people are having a crappy time at work. So those 4 weeks vacation where you can watch monokini 19 year old girls is mandatory to survive.
If I wouldn't have been on vacation this year, I would have gone nuts. And thats pretty much the same for most people.
When I came back, I booked my sky holiday for januari the same week.
People expatriating, and living in hotels.
what a wonderful use of my tax dollars Obama, buy some Amazon! Get some Oracle too so Larry Ellison can unload on the taxpayer.
you forgot Adobe Pillage :) EVERYBODY needs photoshop! :)
PUMP PUMP PUMP THAT STOCK, SLOWLY UP THE STREAM!
Forget Prechter. This Elliot Wave Video will make your hair stand:
Great video...love that the top trendline is right here at 1150 on SPX, if the market can break that level then the Elliot Wavers need to look at a recount of the waves but if they are correct then all hell breaks lose.
Good Luck all...
I was intently listening to the video until he said we will be looking for lows of 100-250 on the SPX.
If that were to happen, the sheer destruction of capital markets would basically send EVERYTHING to a stand still. If you think the gov is ever going to let that happen, then you have also drank the (other) kool aid.
The only buyers in this market are mutual funds that still get monthly flows from retail buyers who forgot to change their future 401k buys (got to be getting less and less) and the second derivative POMO flows.
Pretty soon all the trading will be between HFTs, and then the real meltdown can occur. Might be time to start nibbling at the VIX, buy some popcorn, and get ready for the show.
when did 4 billion shares traded become an abysmal day?
When they are all traded by the Fed.
LONG LIVE PRECHTER!
Long live Paul J Thomason
The Fed is slowly acquiring US companies through a massive hostile takeover, otherwise known as POMO's.
Even with POMO, there is a liquidity limit when no retail investors are putting money into the market. We just may be reaching that limit.
Volume leads price......... to keep any rising price trend going in the absense of increasing dividends, new money needs to flow in as speculation of future income or tomorrow's greater fools. Whoever they are, they're getting spread pretty thin..........
Normally on ZH I am seeing commentary and posts referencing the low volume as a telltale sign when the markets go UP for no apparent reason. Today, low volume and everything was mostly down ... what is the difference?
S&P 500 FINANCIALS INDEX - an important chart:
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