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On Traders' Minds This Morning
A summary of the key things on traders' minds this morning, as reported by Peter Garnry, head of equity strategy at Saxo Bank
- Record short selling in Japanese equities... with around 35% of daily trading volume being shorted. Normally the most shorted single stocks outperform the general market, so this might be a signal that the market is too pessimistic on Japanese equities and we could see a short-term, short-covering rally.
- The market does not believe the European Central Bank... with all banking stocks yesterday erasing early gains following the better-than-expected stress-test results. The truth lies probably in between, with the ECB being a bit too optimistic and investors a bit too pessimistic. Overall, our view is that the stress test will improve valuations among certain banking stocks, such as Commerzbank and Deutsche Bank which are trading at half their book value.
- Amgen delivered solid third-quarter earnings after US market close... with EPS at $2.30 vs. an expected $2.11. The company is raising its full-year guidance. We highlighted the stock on yesterday's morning call and we remain very bullish on Amgen.
- Twitter Q3 EPS was in line... but the valuation is grotesque given the lack of user growth. We are negative on the stock.
- BP issues an implicit profit warning... but the market does not care, sending the stock up around 1% in early London trading as Q3 net income came in a tad better than expected (but Q3 profits were down 19% year-over-year). Gulf of Mexico oil spill costs are now $20 billion but could go as high as $50 billion. Management is issuing a small profit warning due to the sanctions against Russia. BP owns 20% of OAO Rosneft, Russia's largest oil producer.
- Lloyds Banking sees a 41% jump in profits... but investors are sending the stock down 1.5% despite announcements of jobs cut and positive trends in impairments. Our quant model is neutral on Lloyds Banking but very bullish on Royal Bank of Scotland, which is reporting its Q3 earnings on Friday. Given today's results from Lloyds, we expect positive results from Royal Bank of Scotland.
- Gilead Sciences reports Q3 earnings at 20:00 GMT... with the Street expecting $1.91. Our quant model is extremely bullish on Gilead Sciences and the stock is on our conviction buy list for North America equities.
- Facebook reports Q3 earnings after US market close... with analysts expecting earnings to rise 61% y/y on margin expansion and increased monetisation of its international user base. Our quant model is very bullish on Facebook and we will elaborate on our view later today on Saxo TV.
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Hmmmm......buy stawks......or slaughtered.
What to do?
If I had a soul......I'd start to get worried about the yoots of this world.
On Traders' Minds This Morning
If we fuck up this time, will we get bailed out again?
Yeah....but we're not going to call it a bailout......we're gonna call it a monetary mulligan.
Catchy huh?
Do algos have minds now?
What's on my mind.
If Bill Clinton was the first "Black" president, then Barrack Obama must be the first "Latino" president
What's on my mind? Insanity.
Specifically those overpriced TWTR 45 puts that anyone would have been insane to hold overnight.
It was purely a hate trade, trust me.
the street just wants more positive sounding spin and mope to keep goosing the markets until QEternity comes back. Then it's all hookers and blow for all those clowns for just a little while longer.
Smart money big-timers either already have or are heading for the exits right now. Selling to the sheep-tards who have to chase this bullshit for any little hope of some gains since they can't make a dime anywhere else other than this extremely risky psycho non-market.
Too bad the sheep can't figure out that all they really need to do right now is get outta this bullshit paper, close accounts, fire their money managers, and reduce risk by going cash and precious metals phyzz heavy, and wait this thing out until after the storm clears.
They won't make much in cash, and the coming rise in phyzz PM's will preserve wealth and buying power but is not meant to live on as a means of subsistance on a daily basis, but rather as insurance for the very long haul against collapse of the dollar.
But it's the safest damn thing to do right now rather than risk everything in this farce of a "market" by buying the shit that the big-timers are now selling because they have the inside iggy to sell now before the collapse.
Unfortunately, many of the sheep are going to get sheered and sheered hard-core much worse than anything they experienced in 2008/9.
Holding some good mining stocks right now while they're the most hated thing in the world would be another good hedge. Nothing huge, but some well-placed moves into the mining sector could be the biggest investment of the century once PM's get rolling. It won't take much to get it started and once everyone starts piling into the miners it's going to be fucking incredible...and phyzz PM's will follow big time once the miners blast off.
just my humble opinion.
Back of the envelope tells me if all US citizens, over the last 10 years, had put an equal amount of earnings into Gold that they put into TV, internet and cell phones, we wouldn't be having alot of these current discussions about what all is wrong in society. If everyone had 30 oz gold the sovereignty of individuals would be much higher. I went all in on coal miners and gold with no more dry powder, just waiting.
The market in action....
https://www.youtube.com/watch?feature=player_detailpage&v=10S0-hgl_38
Somebody needs to get a grip.
Hey....if you could do that for us.....that would be super.
I can do it but it'll cost extra, don't need to wait one minute longer than absolutely necesary to accomplish a goal.
She said it was too small...
Hey everybody! Yes, that's right! Its time to start the annual Santa Rally. New all time highs by Christmas on expectation of the next round of QE because of deteriorating fundamentals.
Hey Slaughterer, you have always made great calls, in my opinion. Buying BAC at $4, when everybody here was predicting it to go to zero, is one of the many. So, Santa Rally it is...
By the way, my neighbour's step sister's grandmother's daughter made ...
"I don't know. I'm pressing all thee buttons like a MAN POSSESSED!
BUY! BUY! BUY!!!!!!!!......
They call that, catman fever, and I don't how they do it, but they sure do it good.
There is no trading any more. It's all just groupthink.
Must suck to be you's
in their minds: ONE FUCKEN DAY LEFT of this sweet party, damn . Oh well it last 6 years afer all
( QE ends on the 29th)
I think they're done with being front ran. From now on QE will be stealthy so they can accomplish their goals whatever those are
On my mind this morning, is how much Gold and Silver i am going to buy at the end of this month, and how much cash i am going to try and stack away by the end of the year.
Fuck the financial market !
You think the bottom is in for pm? You may want to consider stacking slowly and regularly rather than one all in. Unless you've got some found money and a 10 yr timeline.
Reminds me,haven't supported my local dealer this month yet. The next 10% drop is due soon but why wait if you have a ggenerational timeline.
I have been buying since the start of the year in the range of 1150 - 1350, generally the average has been around 1250. I will buy all the way to the bottom if necessary, this is a long term investment for me.
I still cannot beleive that silver is just over 17 dollar an ounce, here in Dubai, thats almost equivalent to a double JD and coke!
So the free money has temporarily been shut off. So we are going to rally on what?
Hope and bullshit I guess.
Reminds me of the line you can hope in one hand and crap in the other. Tell me which one fills up first.
+1 I think i am going to steal your line
Anyone else getting multiple messages saying ZeroHedge is in "maintenance mode"? Or is it in "NSA Mode"? Enquiring minds want to know.
Yes.
I've devised a complicated workaround that involves coming in through Huffpo.
Dang, we used to do it through broadband.
You're still on Huffpo? Ahhhh, you gave 'em your phone number, didn't you?...
That just pissed me off...arrogant fascist bitch Arianna! She doesn't like all the nasty comments, and won't spring for proper moderators on her boards, so she just starts demanding personal info, and does a 'purge'...fuck her!
And she sets her 'bots' to capture certain words so your comment is auto-deleted the second you post it. Words like "Nazi" are sure to get you deleted, even if the article you are commenting on is about WWII.
And I had a lot of fans too, didn't even get to say goodbye...:-(
I get that all the time. Hit the back button, and go forward again, and it's gone...
Or refresh.
Maintenance mode is when they are updating something.
Yawn... wake me when the Fed actually pulls out of QE, or when Congress passes a budget, or when...fuck it, nevermind.
But the S&P 500 will need to recapture 1905 on a weekly closing basis before I change my bearish outlook for the next four to six weeks.
So wrote Bob Janjuah. Does this fucker ever get his bearish calls right?
Who fucking cares what useless middlemen think? They are all buggy-whips, they just don't know it yet.
Only thing on 'traders' minds.....'when's the free money and how much does I get?'
Two other things, perhaps...Whores and cocaine? And pretending no one is investigating them....
My reading comprehension is always lacking this early. Did I miss a mention of FOMC/QE4? Not sure anything matter more this week.
Do algos dream of electric sheeple?
It's lonely in the saddle when the horse is dead .
Will the Algo's keep on trading after The New Black Death ?
See
https://www.academia.edu/8993526/The_New_Black_Death
http://andreswhy.blogspot.com/2014/10/the-new-black-death.html
Good luck !
You'll need it .