TICK - SPX Divergence

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Thu, 09/10/2009 - 12:31 | 65026 Dixie Normous
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Despite repeated attempts by the Nas futures to rally the troops like John Belushi running out of Animal House, the S&P is holding back.  Could it be JPM?  XLF? Or just holding off until 3PM when the baton can be passed onto the Asian markets and the cycle can begin again?

Market Leap Frog.

Thu, 09/10/2009 - 12:35 | 65031 Anonymous
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FX pairs have been sideways since 11.

Thu, 09/10/2009 - 12:39 | 65033 Howard_Beale
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Check out the options activity in Wells Fargo OCT 24 puts...over 45000 so far today.

Thu, 09/10/2009 - 12:47 | 65041 mule65
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Several blocks at 0.60 -- Buffett buying insurance?

Thu, 09/10/2009 - 13:24 | 65085 blackebitda
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buffett is scared. he is all invested and may have no one to sell to as his paper wealth fades. hard for an elephant to get out of a pond with alligators circling to eat you. that is unless many elephants can stomp on them. 

Thu, 09/10/2009 - 13:40 | 65107 Gordon_Gekko
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Buffet and his creed are about to go the way of the dodo. Oracle of Omaha my ass - more like the Hypocrite from Omaha.

Thu, 09/10/2009 - 13:55 | 65127 Anonymous
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Gordo, why so negative lately? Your Gold is working for you. I thought you would be in ecstasy these days but you sound like agony... I'm worried. What gives little buddy?

--Dr Phil

Thu, 09/10/2009 - 13:45 | 65114 Howard_Beale
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even more happened in the Jan Wells puts---100000 puts sold at 20 strike, 50000 bought at 25--simultaneously. That calls for a 5 dollar range with a takeout pricewise of .35. Buffett? who knows...just a huge amount in WFC for one day.

Thu, 09/10/2009 - 13:58 | 65139 deadhead
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wfc's balance sheet sucks imo.

they are my sleeper pick for junker of the year.

Thu, 09/10/2009 - 15:11 | 65250 Howard_Beale
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Zombie bank

Thu, 09/10/2009 - 12:44 | 65039 AnonymousMonetarist
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Mr. Valentine sets the price at 1045 max .. we'll see.

2003 vintage being chilled just in case .

Fat dumb and stupid is no way to invest ...

Thu, 09/10/2009 - 14:12 | 65154 AnonymousMonetarist
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 1,043.56  may be close enough for government work.

Thu, 09/10/2009 - 13:01 | 65055 Anonymous
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If WB was buying insurance, anyone think he'd "disclose it" like he wants everyone else to.

Thu, 09/10/2009 - 13:10 | 65070 Bearish Spirits
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It's responding now...to both TICK and to DXY dropping like a stone.

Thu, 09/10/2009 - 13:18 | 65079 Anonymous
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What's TICK?

Thu, 09/10/2009 - 13:22 | 65083 blackebitda
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when one has to do all the buying, the bears just let the manipulators wear themselves out. the tick against the falling tape and now against a strong demand 30 yr bond may reveal that into the close and next few days. 

Thu, 09/10/2009 - 13:35 | 65104 Anonymous
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The CPCI is trending higher, daily and weekly.

Thu, 09/10/2009 - 13:58 | 65137 Anonymous
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1:56pm SPX 1042.67. Abby Joseph Cohen is my Allah.

Thu, 09/10/2009 - 16:18 | 65435 Anonymous
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One of the top guys at Bank of China was quoted yesterday or day before to say that he sees bubbles everywhere--not just China--everywhere. Folks, it's easy to see the bubble that the other guy is sitting; what's hard is seeing your own bubble.

Where is all the money going? Lots of expansionary monetary and fiscal policy around the world. Lots of money, i.e., credit, being created. Who receives that credit and operates with it? Well, it's not the salaried class, the folks who buy homes and groceries and new school clothes at retail. No. It's the people who trade in assets. So the money ends up in assets. But not all assets. It ends up in those assets that big money people invest in--the big money people who end up with the stimulus. As Jerry Reed once sang, 'she got the gold mine, I got the shaft.'

So. Maybe it's not a sucker rally, or a bear rally, or some other kind of rally. Maybe it's just a bubble. Remember, the U. S. dollar is supporting a carry trade, for chrissakes. I can remember when only the yen provided the fuel for carry trades. But now our interest rates have been zero for quite a while--if you're the kind of person or institution who can borrow money at zero interest. Remember, all the chumps (like me) can only sell money at zero interest. But some people can borrow at zero.

It's a freaking bubble folks. Deflationary thinking is hurting your wallet. There's inflation. But the inflation is not in the stuff that chumps buy; it's in the prices of assets that big money plays with. Like common stocks and bonds.

F. Horne

Sat, 09/12/2009 - 23:43 | 68010 blackebitda
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then why all the insider selling? are the $100, $200, $300 priced stocks rising? the banks are buying the bonds with their tarp money?

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