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Risk On: With Europe Closed Who Cares About Greece?
Europe is closed, and Greek bankruptcy is out of mind (FTSE at a one month low is victory for the bulls) so risk is on, as seen by the parabolic intraday rise in the EURJPY: The only trade now is to short the Yen and buy everything else, until Europe opens again and Greek yields hit double digits. In the meantime let's sneak a RMBS securitization deal in the form of the Redwood Trust, the first securitization since early 2008: there is no stopping the bubble.
If the above chart does not do it for you, here is another look at where we now, well, stand.
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would you say that guy is a little "overextended"?
Nah, he could use a bit more leverage IMO.
now you figured it out so stop lamenting about it already......find out who has driven the russel to 15% of its al time high and why.......
BlackRock...........it ain't much of a secret......the mother of all short squeezes.
Short the yen at yer own peril.
Was Obama's speech THAT good?
DavidC
Yeah, for THEM it was that good.
Blah blah blah blah transparency blah blah blah transparency blah blah blah
TRANSLATION: carry on
He must be laddering his Greek bonds.
I gotta say, even I'm a bit shocked by today's market. I really didn't think we'd not only recover losses but actually put up gains. I guess AAPL is partially to thank for that - it went crazy on some big volume early this afternoon.
Whatever the reason, it's very apparent that we're going to the next level before a 4-5% pull back. My guess 1225 area.
Harry, why so apologetic?
We liked you better when you were a jerk!
;)
This is sick
Apologies, I'd forgotten the <msacras></msacras> tags...
DavidC
Insanity.
For example, fom London, the whole of the FTSE rally from early March has now happened with the market closed, between 4.30pm and 9pm London time.
In the hours where London is open and the US isn't, FTSE is actually down around 2% since March 4th. Then we make 2% back in the US morning/London afternoon. We all go home, and some muppet in NY puts the market up 5%.
That's why, when this market goes (stocks, bonds), and it will, it's going to go big time.
DavidC
As bad as it looks, there are still a couple of more rungs... like the market.
Tyler why dont we pool all our money and get long till Dow 36,000, have Liesman guest post daily and short the markets when BAC is 1700.35 PPS. Who would have thought banks could be so successful while nobody is paying them
They are so successful because nobody is paying them. The non-payers are driving up retail sales, lifting the entire market and getting everybody all starry eyed about recovery. Accounting rules have made banks the honorary black hole where anything that goes in disappears forever, so no one need worry about it. And since banks know nobody is going to pay them if they make a loan, they are using all that ZIRP money to railroad stocks or ride the yield curve. Goldman taught them that even pure hedge funds, if they can somehow toss "bank" into their name, are backed by the full misplaced trust of the American sheeple.
It's the best of times.
Here is an interesting read about why Germany may leave the euro. The numbers look good.
http://www.financialsense.com/fsu/editorials/amerman/2010/0419.html
Tell me why is the DAX surging after normal dax trading hours?
There are HUGE dividends payable yet the market ignores this?
In normal market times the market would re-adjust lower, but more than a 0.5% markup for tomorrow? After a dividend payout of around 0.4%?
Looks to me like dax is doing the out of hours manipulation game and ZH please investigate :)
I would speculate that this could be the start of a flight to safety within the EU. The Greek government has been very quiet the last couple days. I suspect their government is toast and they know it. The next words out of their mouths could be very unfriendly to their friends within the EU as they look to save their political skins.
The smart money could well be calling around to guage the situation and may be deciding to move their euro funds into the German market to weather the storm. Germany is the common sense location to invest euro funds. Why trust the dollar? When Greece defaults, it will be quick with little warning. I suspect Germany will see the Dax spike (or fall the least within the EU) as everyone heads for the hills.
The market seems to correct on the positive side once europe closes and the after hours is just as positive. This market is so manipulated that it's showing it's age. It was at one time 100 and change points down and now it came up from the negative to positive 71. When this market capitulates, it is going to hurt and hurt badly. You don't come back from dow 6,000 and change to 11,100 (a little over 5,000 points) without a test or downside of the market. No manipulation is the name of the game and manipulation can only go for so long before reality sets in.
Speaking of bubbles and a return to early 2008, what could possibly go wrong here?
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