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Welcome To The Casino, We Got Fun And Games... But No Liquidity All Of A Sudden
Billions were made and lost in half an hour.
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Uh oh, power outage, someone forgot to instal HAL9000's backup power unit...
Thats ok, the JCN10^9000 is ready to replace the HAL
Whatever it was - it got me excellent fills on my puts.
GS made it payment to SEC fine!! Let the games continue!
lol.
Da Players are out celebrating the godfathers reappointment and the prosect for tons more in taxpayer supplied bonuses in the future. they be smoking the green shoots now that they have cured.
We are really non confirming new highs, I suspect a air lock elevator drop to scare some bulls out of their positions soon.
smoking the green shoots to reach new highs...awesome.
http://www.ritholtz.com/blog/2009/08/bank-holding-companies-ranked-by-commercial-real-estate-loans/
This is a good article to bookmark and follow the future +/- swings.
Very nice table, Cheeky, thanks for forwarding. The next logical question is: at what value are these loans being carried?
That is why the BBT/Colonial thing makes me nervous. 37% writedowns shouldn't be happening at this point. We all know the banks have crappy CRE on their balance sheet and are probably avoiding the losses. But by how much?
most sources that I read say CRE loans are carried at par.
That's all I've seen as well, which just blows my mind. No way that's justifiable, even in mark-to-fantasy-land.
IndyMac at 37 cents and even that pricepoint was suspect.
When structured vehicles blow you can get blutarskied ...0.0
So a slice of a nothin' is nothin' baby.
I'm dying for the FED audit if it happens .. cause have always believed that in fact for certain transactions, yes viriginia there is no collateral.
Oh my, MetLife has some exposure!
If they haven't written down, one might opine they will be the next AIG.
Ironic seeing how Metlife's old guy is now the main man runnin' things at AIG...
Fuck Cheeky?!?! All the banks are wearing giant bombs shaped like commercial real estate!
Wait, wait, there's a bank not represented... guess which one... oh-oh
Could coincide with story out at 10:16am on Bubblevision... Economy in Much Worse Shape Than Expected: White House
http://www.cnbc.com/id/32551478This was on CNBS? Must have been some screwup, maybe this was supposed to go to GS's esteemed customers, but they mixed up the memos and sent them the daily tout (early of course) so they went BuyBuyBuy into the opening, while the rest of the market sold when the story hit CNBS? Now it all makes sense...
Oh I think GS got it before everybody because it look like the slide started around 10:05am...
Well Abby tell ya how it is gonna be in this video. A staircase
At about 4:50: the market will go up in a staircase pattern.
http://www.cnbc.com/id/15840232?play=1&video=1206767531
They cannot only "predict" where the s&p 500, oil and everything else is going to be in a year but also how it is going to get there. Isn't that cool?
They get some soft taken away from them, they wake up the FBI and at the very next day the guy is under surveillance and soon after he is in jail. Good that the manipulative soft go back to the right hands. But if they give trading tips to their fav clients. Barely anything happens.
While in the same bizarro world their own economist cannot get himself to sound bulish
Forgot to include the video of Goldman's economist:
http://www.clipsyndicate.com/video/playlist/1778/1071006?title=bloomberg
Also let me add that the staircase rally seems to be the better one from a maipulative pointof view. Every time you get a plateau wait for the short side to load so when you force them to cover they help into creating the next step ...
Thank you Goverment Sachs, and Ben Bernanke you are so well trimmed so thank you too!.
They should only let in Abby at the Barron's Roundtable to serve drinks for Hickey, Faber and Zulauf.
Cheney: Forget it, he's rolling.
Benny: And it ain't over now. 'Cause when the goin' gets
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
Pimp juice, pimp juice...
I am talking my pimp juice, yeah my pimp juice...
Pimp juice is a derivation of Juice. Juice is using cruel acts to make people afraid of you so you can dominate them. Pimp juice is like slapping whores and such. The juice system is a ponzi scheme. You have to keep doing more cruel things to maintain it until you eventually reach a line you won't cross.
Why this news is not on Bloomberg?
my view is that a number of outlets are discounting Redbook as WalMart is out.
Somebody knew and that's why futures were well bid from overnight lows around 1020, despite China being down ect. Once the number came out, it was time for those in the know to cash in.
i just visit this site to see TD's pretty colored charts.
You mean that's not normal??
I believe this is now known in TA as the flying finger formation. It was last seen right after the FOMC minutes on the Dollar index. It is meant to send the market the following message - "screw you, we can take this market whichever way we want"
So the short answer is yes, this is normal.
LOL
Obama kind of threw them a curve with the late day reappointment. The boys are tired and now they have to rally one more day to substantiate Ben's acendency to Maestro status. Oh hell, what's one more day. Besides, the boys and girls over at Crapvision are pissed to the point of calling out the Teabaggers with guns every time the S&P is down 1 point. Eternal rally is becoming an existential necessity.
can you say short
Who said buy and hold doesn't work as a strategy... as long as its between 4am - 10am.
Thought today was going to be like yesterday....pump and dump, but I guess not quite...
It was a pump and dump, except on a much shorter time frame. The time frame is now being determined by Moore's law, so it will exponentially keep getting shorter and shorter, until our mere human eyes will not be able to notice the pump and dump. That's when consumer confidence will skyrocket past 5000 as the market and economy will seem to run on pure magic!
For trading purposes, I never even look at anything less than the daily bar. Trying to time the intraday swings is playing their game.
OT: Goldman’s Hatzius Says Fed Balance Sheet Could Hit $4 Trillion
“Rates need to stay low,” he said. The Fed “could become more aggressive in purchasing assets. They have not gotten a lot of bang for the buck on that policy so far.”
Translation: The Fed needs to buy $ 2 trillion more of toxic crap at ridiculous prices to help get GS and the other banksters out of this mess
Your translation is correct, and I can tell you right now that's going to end badly.
But he opined recession is over, oh if only I could be the ball in the Goldman rugby huddle.
False. Liquidity did not disappear: the average SPY inside size (average of bid size and ask size) was:
09:40-10:00 17.4K shares (on the way up)
10:00-10:20 16.3K shares (on the way down)
Liquidity does not bring freedom from volatility. Liquidity allows large trades to cause minimal volatility and thus low market impact cost.
You're making it appear that you don't know what liquidity is.
think a lot of this is going on. still books the income, calls it a short term accounts receivable and on the surface, everything is normal.
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
My favorite part of that video is when Larry Kudlow commended Abby J on her wonderful predictive track record. Didn't she think the S&P would be above 1500 at the end of 2008?
Today has to be the day where the market kicks
The FED's ass,
The Bull's asses
and all those folks asses who now suddenly appear and
try to push up stocks as much as they can.
Today has to be the reversal day. It just has to be!
there isn't going to be a reversal until all the hopes and expectations of a reversal are dimmed.
Want a good laugh ?
Go check out Michael moore's trailer of his new movie about Wallstreet
http://www.michaelmoore.com/
He has quite a few bags to fill...
This might be the only MM film I will enjoy seeing...