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Weekly Chartology
Just in case you thought there was any confuction about which way the Goldman propaganda wheel turns: "Investors we met this week remain bullish in both outlook and positioning, consistent with our view. We expect S&P 500 to rise to 1300 by mid-year (+13%), before ending 2010 at 1250 (+9%)." So it was spoken and so it shall be. Amen.
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You forgot to add..."Praise the Lloyd"
The Dow Jones will gain 250-350 points next weak, on doelarr weakness, led by miners/energy. The majority of the gains will be on Thursday and Friday. Gold will move back to $1125 on Wednesday, where upon the sale of IMF "gold" will be announced. The buyer is most likely Japan, but it could be Germany. It is not China.
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February 18th, 2009
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Will Lehman Fallout Rekindle Bank Asset Worries?
March 13th, 2010
No comments Saturday, March 13, 2010. 10:00 am.
The damning revelations in the 2,200 page Valukas Investigation report of Lehman Brothers using repo swaps to temporarily remove $50 billion of toxic waste assets from its balance sheet, hiding them from the view of investors and the credit rating agencies, apparently has regulators concerned.
Reports are of regulators making nervous calls to other banks trying to ascertain if the manipulations were confined to Lehman, or were common practice in the industry. It’s a touchy subject since there never has been any transparency provided regarding the value of questionable assets, including mortgage related derivatives and credit swaps, on the books of the major financial institutions. The approach has been to let sleeping dogs lie for now, while helping the banks unload those assets onto the Fed’s balance sheet and the like.
Questions are also being asked about the part several major banks, including CitiGroup, may have played in the Lehman scheme.
The concerns are spreading to Europe. Apparently, Lehman could not find a law firm in the U.S. to sign off on the activities and had to go to a U.K. firm for that service, while counterparties to Lehman’s swaps included global banks Barclays, UBS, Mitsubishi, the Royal Bank of Scotland, and others.
Being a counterparty in a swap by no means indicates any wrong-doing, but with the report that Lehman’s use of swaps in this instance was to mislead investors and rating agencies, investigations into the participations are likely. The situation will also likely reignite demands for tighter regulations of swaps and other exotic and complex trading that are now such a large part of global finance.
It’s not a Pandora’s box that anyone is going to want re-opened at this point in the recovery, given the panic the contents and quality of bank balance sheets created in 2008.
Thought some might like to read this.
Since it's the gospel, go long young man, go long.....til mid year at least.
China hits back at Obama on yuan
http://news.bbc.co.uk/2/hi/business/8563083.stm
Hegel. Hegel Hegel, Hegel Hegel Hegel. Hegel Hege Hegel; Hegel Hegel.
Don't bet against the house. When Goldman said the dollar would go up 10% they were right-or had the inside track on the Fed. True price discovery will never be refound after the great crash of 2008. Buy high or buy higher. There is absolutely no reason the markets should be this high with collapsed earnings- except that the Fed is creating a deBeers supply squeeze.
S&P 1300? At this point, nothing would surprise me, but this call seems eerily similar to the famous "oil will rise to $250" statement that came within days of one of the worst sellofffs in oil for many years. I wonder how short GS was on oil when oil rediscovered gravity?
The bears better start beating back the RKH right now, or its going to be a long summer...
Better hope that IBM is not trying to get something going here..
Shortsqueeze.com still reporting 7 days to cover on this thing...
GE trying to poke its head out of this trading range
And XOM is now back up over the 50-day. If it holds, and starts creeping up, its going to push the Spooks and the Dow right up with it...
++
"Will Lehman Fallout Rekindle Bank Asset Worries?"
This is the game chaner and what I have been waiting for. To think the rest of these mutts weren't doing the same thing is laughable.
I just hope that mystery buyer guns those futures again early Monday morning I will be buying FAZ right outta the gate on weakness.
....and do what with it, hold it? Stay away from FAZ unless you think/know or have evidence something will happen to change the trend. If you do know, share it because it may not be tomorrow bud.
Just because Goldman keeps repeating S&P1300 over and over and over, week after fucking week does not mean shit.
Goldman is a bucket shop.
Tee Hee!
I have little doubt that Goldman is correct. Bernanke has us firmly planted on the parabolic portion of the dollar supply curve. Now he has only two choices: widespread default and the subsequent ruin of his peers in the US banking system, or forge ahead with the destruction of the dollar and the US middle class. We are told, repeatedly and vehemently, that the former is unacceptable. So we barrel down a path that will prove (is proving) much worse for the common man. By 2020, Lloyd Blankfein's personal wealth will have reached godlike sums, probably greater than the current US GDP.
Yeah man buy the Faz right outta the box man. Then getta box D-con and soime rat cheese and we're all set
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Now you're just being evil Tyler.