Continuing Claims

Unemployment On Elm Street, Market Shrugs

Initial jobless claims: upward revision for February to 657K, March survey: 650K, actual 669K

Continuing claims: upward revision for February to 5567K, March survey: 5590K, actual 5728K

Unemployment On Elm Street, Market Shrugs

Initial jobless claims: upward revision for February to 657K, March survey: 650K, actual 669K

Continuing claims: upward revision for February to 5567K, March survey: 5590K, actual 5728K

The Week That Was (Not As The Market And Media Will Have You Believe)

As the financial world is losing one of its best and brightest advisory brains through David Rosenberg's impending departure from Merrill, we believe in spreading his gospel as much as we can, as his vision and instincts have saved many people (at least those who have found the contrarian in them to listen and act on his advice) their life savings. David has the uncanny ability of calling it like it is and it is our duty as responsible citizens to disseminate his words.

The week that was according to Dave

Frontrunning: March 19

  • Continuing claims hits record high (Reuters)
  • Citi files official preferred exchange proxy, to pursue reverse stock split (Edgar and WSJ)
  • ...while Citi is paying $10 million for Sub Zero fridges and other stuff at 399 Park (Bloomberg

First Lehman, Now Goldman Saying Run For Cover

A report released earlier by Goldman thinkers Krag Gregory and John Marshall discussing volatility and options strategy, is recommending loading up the boat on S&P puts. The GS "portfolio strategy" team (we assume this is not the guys on the prop side who usually execute the opposite of whatever the sellside guys preach) expects the market to retest the 750 low in Q1, pretty much what Lehman said over the weekend.