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Paging Jerome Kerviel To The Fat Futures Finger Room
A flush in the SPUs is a victory for the bulls.
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These markets are bull shit after all. Why expect anything else?
over/under on minutes/seconds to nyse malfunction?
did you guys see the (almost)panic sell that went on in HSI tonight. fucking hilarious to watch, particularly in Financial and Industrial components of the Index.
place my bet "most brokers/advisors didn't know what they were peddling" and had no clue it would blow up until they were told on yet another morning conference call...We just
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
Definitely CB...I watch the HSI closely. -5% is just an intuitive indicator for me, but followed by another -3 to -5% or greater within the week as long as it hammers at support. When the Japanese repatriate Yen, all hell breaks loose. I called the GBP/JPY plunge last summer. Somebody made money off my calls, but not me - I ran out of dry powder sitting on the front line. I won't happen this time.
Bernanke withdraws liquidity by ending QE. Next leg down.
Edit:
Question: How can you have the greatest economic crisis in history and never have a limit-down day (trigger circuit breakers)?
Answer: YOU CAN'T.
We did have a lock limit down morning in the futures on October 24th of 2008, but, no, not once the market opened that day...
the limits have been expanded @ cme because it pushed order flow to etf's
imo-one of the best ways to slow the hft's is tigher limits
cycles matter - and if you overlay this morning's chart of the SPU's with the July - April time period (as of 755am) they look identical, with the 4am plunge being the beginning of october.
just throwin it out there, if there's any follow thru it will look really interesting, if not i'm a nutcase.
I can't wait to see how Bob "the important thing is" Pumpsoni spins this shit.
It feels so good to be in cash right now.
They've got all day...remember what kind of market we're in, and remember the seismic government bid below the surface. Wouldn't shock me at all with a green close today, and an up 3% week.
what as four letters and rhymes with 'pump?'
what has eight letters and rhymes with 'thank ye?'
Poor Evil Kerveil.
Kid got jacked.
Speaking publicly for the first time since the end of the investigation into the Société Générale scandal, Mr Kerviel insisted that he could not have gambled away so much without his superiors' knowledge.
"Everything was visible. I took my positions in front of everyone, in front of managers. I wanted to earn money for my bank, all my operations were seen, monitored and controlled," he told RTL radio in France.
"Do you honestly believe a €15 billion operation could go unnoticed and that the bank would ask no questions. For my part, I wasn't hiding myself. I was at the middle of the desk and everyone could see me work."
In his RTL interview, Mr Kerviel alleged that other SocGen traders broke the bank's rules but he said he would not betray their names to police. "One thing you have to keep in mind, is that all of our acts and gestures were overseen in real time. We are all next to each other, and we can hear exactly what each other are saying on the phone," he said. "You couldn't do anything without being seen.
looked at from the POV of a technician what is important is that the most recent highs have not gotten higher but the lows (from the high) have gotten lower. This indicates a weakening market since more are willing to sell at the top and there are fewer buyers near the higher price.
However, just because a few ppl cover at 985 doesn't mean much yet. Typcially this type of consolidation will drift lower, surge higher past the old high and then roll over, like an N shape.
I don't have a Bloomberg. What's SPU? An S&P futures contract somewhere?
SP - Big sp futures contract, U- September contract
Nowadays markets are much healthier,the states are more officially the hedge funds.
They deserve their non claimed bonus and rightfully think that banks are robbing this priviledge.
How about tighning money supply,never thought about it?
SP (U) U is the september contract-
SPooze is generic for any S&P 500 full size contract.The Dec Futures after mid-September SPU09 expiration will be SPZ but still called SPUs or SPooze.
they told my mom it was just like a mmkt. I told her to undo that transaction and get her butt back into the treasury based mm.
We just
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions