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Until the last few days, I was proud to be 90% cash as I waited for another, deeper Oct. 3rd like dip. I'm still convinced there will be a better opportunity to put risk on down the road... But I must admit, seeing WTI oil move from 75 to 94 in two weeks has me feeling a bit left behind..
I wouldnt worry about the loss of being left behind... it was a hedge unwind that created the snowball effect higher. Plenty of opportunity to come whatevery way you will want to play it.
One could however see the oil move as a sign that MMs no longer feel the need to be (as) hedged as they were before for a total collapse, i.e. WTI under 70 basically reflects recession, oil at 90 and above signals 'all is well' or at least for the near future.
All the bad news is not priced in, but it soon will be. No doubt there will be another Oct 3 type dip with several 200-300pt down days. Wait until EU implodes and the USD surges, coupled with USA debt ceiling govt shutdown, and what if another US downgrade for the 15 trillion debt. This could all happen in a few shorts weeks and you'll be happy to be in cash.
I keep buying $1000 worth of SZO every few % higher it goes. You just know gasoline is gonna reach $3 a gal soon...that should piss off the OWS all the more. haha.
Best price for crude is what? $70? Anything south of $50 or north of $80 and that hurts the economy.
SCO has more volume and less swing.
7% = game over. care to elaborate?
Hugh Hendry (10 Feb 2010): ..."Greece is paying 7% on 2 year money"...
Thanks for the video. Didn't realize Stiglitz was such a tool. Hendry at his finest.
Hey Tyler, ECB buying Italian bonds yet today?
The ECB only has 5 billion left in their coffers before they have negative equity. It's one of the reasons why the "plan of the plans to make a plan" trick is nearing its end. It's time to put up or shut up to use an old, tired cliche.
Check. But i'm looking for a token effort to go 6/6 on their streak.
"A Billion here, a Billion there." Gotta be seen to be making an effort, dontchaknow.
Looks like it. 10Yr rose to within a whisker of 6% earlier today and then suddenly reversed, now down for the day.
I doubt that 'Investors' did that.
Looks like "intervention time" has come in the eUR-a-O zone. EURUSD spike to 139.3 from 138.85.
Am i going to get my pony tomorrow?
pony.... wel eh... we had ourselfs some target practiceing and... don't you rather want a pig? We have plenty of those you know?
Lizzy, this is Mr. Berlusconi. He's a nice man...he'll get you a pony, if you're nice to him.
Maybe a pony ride.
No problem, I'LL JUST JOIN ANOTHER CLUB!!
ANYBODY WANT TO CREATE A 4TH EMPIRE?
There it is, the fourth alternative:
1) Vote "No" and cause Greece and possibly other PIIGS to default, possibly ending the Euro;
2) Vote "Yes" and kick the can down the road;
3) Surrender soverignty by creating an EU finance ministry; and
4) Liquidate Lybia.
Of course, 2, 3, and 4 may all be combined.
I still think that voting "No" is by far the best choice.
Anybody have a match?
I have a match for ya - your face and sudden debt's ass......
Euro dollar looks like its in vtach. I wasnt a fan of the idea that everything would crash at once but watching this surreal shit mAkes me think that throwing in the towel might be an option for the markets.
Anyone going to cover this ESM thing? It's not the EFSM, but the ESM which is a new Euro power with immunity. They are looking for 700bln apparently...
"The ESM is a new EU-administration. To manage it, Brussels hires the Ministers of Finance of the 17 euro-countries. However, these ministers will come to Brussels with the key of their national vault and the full permission to take out all the money they want, when they want and as often as they want."
“interventions in the market” ?
To anyone who thinks we have free markets I give you exhibit A above.
Europe is not on the verge of war because of the european union. It is because of NATO.
You're so right. The EU wouldn't say boo to a goose. A total bunch of conscientious objectors if I saw one.
The German Army has a union! haha
Remember fellas that the multi-tool cdo monoline bond buying monster the eurofanatics will launch is supposed to END the ECB's monetization exercise. Could the last one turn off the lights, please...
It's print or die time for EMU. Any bets on which it will be?
They will die printing.
psst! wanna get 6% on your money for 10 years?
No biggie. they ALWAYS find some way to kick the can down the road.
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