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Did The Fed Leak The European Bailout Decision On Monday Morning? A Visual Exhibit

Tyler Durden's picture


We talked about the total disconnect between US equities and the rest of the global financial market on Monday morning. At the time, many market participants commented that they had not seen this kind of disconnect so broadly and how strange it was - and with reasonable volume (unusual for an upswing). Well, now we have some details on what exactly was said and done on Monday with the Fed decision, perhaps it is clear that someone somewhere was tipped off that this was coming as the rest of the world's risk assets leaked inexorably lower and US equities hugely outperformed.

Instead of comparing ES (the e-mini S&P Futures Contract) against each and every risk asset, we use CONTEXT (which attempts to aggregate many of the global risk drivers into one indicator). Its clear at least from the chart that regimes shifted dramatically on Monday and we also noted that European equities were so dramatically disconnected from credit that evidently someone was 'guessing' really well with a large amount of flow.

Chart: Bloomberg


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Wed, 11/30/2011 - 12:23 | 1930531 RacerX
RacerX's picture

nah, pure coincidence. back to my porn.

Wed, 11/30/2011 - 12:34 | 1930612 Fukushima Sam
Fukushima Sam's picture

Must... stuff...  debt...  hole...  with...  fiat... (gasp!)

Wed, 11/30/2011 - 12:40 | 1930693 Comay Mierda
Comay Mierda's picture

if it looks like a piece of shit, smells like a piece of shit, then its gotta be the Bernank

Wed, 11/30/2011 - 12:52 | 1930834 Hober Mallow
Hober Mallow's picture

Politicians can't stop being what they are: a bunch of greedy bastards.

Wed, 11/30/2011 - 12:53 | 1930848 NotApplicable
NotApplicable's picture

More properly known as power-hungry tools.

Wed, 11/30/2011 - 13:21 | 1931011 redpill
redpill's picture

You cannot trade this market anymore without insider information, and this demonstrates it.

Sudden, arbitrary intervention that undoubtedly buried many investors who had made rational investment decisions based upon the realities of the market.  People working in favor of actual price discovery, real fundamentals, demonstrated price action, all suddenly fucked because a handful of madmen around the world think they can centrally plan the global economy.  And they call this a rescue?  Only for morons who were long the wrong stocks.


Wed, 11/30/2011 - 13:43 | 1931124 Harlequin001
Harlequin001's picture

Look I know these people and I can categorically assure you that they are of the finest fucking integrity, and that they would die before doing such a thing...

Wed, 11/30/2011 - 13:45 | 1931145 Harlequin001
Harlequin001's picture

and my appointment to Treasury Secretary comes in 5.. 4... 3... 2...

Wed, 11/30/2011 - 16:30 | 1932098 Mauibrad
Mauibrad's picture


Wed, 11/30/2011 - 13:46 | 1931149 Thomas
Thomas's picture

Gotta have Lunch with Hank.

Wed, 11/30/2011 - 14:34 | 1931433 ActionFive
ActionFive's picture

Price action Friday and Sunday said this was a fed move.

Retail movement/reactions are gone.

Wed, 11/30/2011 - 12:55 | 1930865 Whatta
Whatta's picture

And to think...the downgrade of the banks rating JUST BEFORE this. Talk about a paper-over, dilution of news cycle and orchestrated POS.

Who has the playbook? I wanna know what is next too!!!

Wed, 11/30/2011 - 12:56 | 1930873 Comay Mierda
Comay Mierda's picture

down is the new up

Wed, 11/30/2011 - 18:18 | 1932776 Catflappo
Catflappo's picture

I just met with someone who works for a bank here in New Zealand - he's not a trader, he's on a product development side so he's pretty disinterested in markets.... but anyway, he tells me that on Monday (i.e. Sunday in the USA) his office was TOLD that the banking downgrades were about to take place !

Wed, 11/30/2011 - 12:45 | 1930749 CORNGUY
CORNGUY's picture

I agree.   People with power and influence never get together and use their combined knowledge to profit.  Racer, that would be unethical.    </sarc>

Wed, 11/30/2011 - 14:11 | 1931268 Smiddywesson
Smiddywesson's picture

People with power and influence never get together and use their combined knowledge to profit.  

Yup.  There will never be rational markets, because people with power and influence can't make a buck without exercising that power and influence on a market that otherwise would be a level playing field.

Markets always were, and always will be, fixed. 

Wed, 11/30/2011 - 13:03 | 1930918 JustObserving
JustObserving's picture

How do you like your job at the SEC?

Wed, 11/30/2011 - 12:24 | 1930535 ucsbcanuck
ucsbcanuck's picture

Why am I not surprised?

Wed, 11/30/2011 - 12:25 | 1930543 Cleanclog
Cleanclog's picture

Of course there was leakage.  That's part of their "expectations/confidence/management".  Fed, Treas, Admin, Congress (except Paul) all wink wink nod nod.

Wed, 11/30/2011 - 12:25 | 1930547 Turd Ferguson
Turd Ferguson's picture

And this surprises whom?

Wed, 11/30/2011 - 12:39 | 1930577 GeneMarchbanks
GeneMarchbanks's picture

Uhm ... it would surprise CNBC if they weren't too busy not reporting on this...

Wed, 11/30/2011 - 16:21 | 1932024 RockyRacoon
RockyRacoon's picture

It WAS mentioned this morning by that funny looking guy with the bit o' white in his chinny-chin-chin lip hair.   That Pete Najarian fella.   He did raise an eyebrow in mentioning it and look longingly at the camera ("Look at me! I know something you don't").   That was all.  No follow up, of course.  That would indicate a confirmation of market collusion, and we shall not have any of that.

Wed, 11/30/2011 - 12:25 | 1930548 Irish66
Irish66's picture

How did we miss it?  

Wed, 11/30/2011 - 12:44 | 1930743 hedgeless_horseman
hedgeless_horseman's picture



We should have listened to Todd Martin.

Wed, 11/30/2011 - 12:25 | 1930550 The Big Ching-aso
The Big Ching-aso's picture



Does a stick smell like shit when it's stuck in someone's ass?


Wed, 11/30/2011 - 16:22 | 1932042 RockyRacoon
RockyRacoon's picture

Only if you pull it out and sniff it.  I'd advise against such action.

Wed, 11/30/2011 - 12:25 | 1930553 homersimpson
homersimpson's picture

Unfortunately, this chart is as helpful as Robo's hindsight predictions.

Wed, 11/30/2011 - 12:33 | 1930625 firstdivision
Wed, 11/30/2011 - 12:25 | 1930554 Eagle1
Eagle1's picture


Is it their fault that they all came to the same brilliant conclusion at the same time?

Wed, 11/30/2011 - 12:26 | 1930555 arm50
arm50's picture

That is part of their, " improving communication with the public."

Wed, 11/30/2011 - 12:26 | 1930558 misterc
misterc's picture

It's leaked in order to strengthen the banks' balance sheets. Prop trading and so forth.

Wed, 11/30/2011 - 12:54 | 1930850 DarkestPhoenix
DarkestPhoenix's picture

Leaked to strengthen bonuses, is likelier.

Wed, 11/30/2011 - 12:26 | 1930560 slaughterer
slaughterer's picture

Any chance of this compressing in the near future?  I think, yes.  

Wed, 11/30/2011 - 12:26 | 1930561 Captain Benny
Captain Benny's picture

No oversight of the Fed... I'm not suprised.  Lets just keep watching bond yields in Europe, they'll have to do a LOT more to fix the Euro problems.

Wed, 11/30/2011 - 12:26 | 1930562 lizzy36
lizzy36's picture

This is the best Bernanke can do. Make NO mistake leaking this decision was part of his effort. This was a coordinated effort and a coordinated leak. 

Don't forget Bernanke's 3rd and most important mandate: "wealth effect".

Despite his 2002 speech he knows that it will be the end of the Fed as we know it if he actually started directly buying EU debt.

This is an election year, with 9% unemployment and record deficits, Geithner can't spend one single YANK cent on bailing out the EU without killing Obama's 2nd term dream.

So here it is boys and girls, the desperate act of a desperate Central Bankers.

November fund statements will be mailed tomorrow. Allowing the Season of Shopping to continue unimpeded. Exactly what Bernanke wanted.

Wed, 11/30/2011 - 12:33 | 1930619 YesWeKahn
YesWeKahn's picture

This is why Princeton is ranked 1st college in the country. They teach you how to cheat.

Wed, 11/30/2011 - 12:45 | 1930754 azusgm
azusgm's picture

And now we have a selling opportunity. I sold out today. When a dividend settles on the 5th, I'm out of the brokerage account. The markets will never be a safe sandbox until the crooks are gone, therefore I probably will never be going back. 

IMO, bullish for selected rural real estate because trust in "systems" will be deteriorating even further and whatever money is left has to be somewhere along with hard assets, food, water filters, etc. I wish I owned a water well company.

Wed, 11/30/2011 - 12:48 | 1930783 BlackSunshine
BlackSunshine's picture

Maybe this should be rebranded as QE 3....not the "coordinated action by 6 central banks", not we should just call it something that sheeple can relate to.

Wed, 11/30/2011 - 12:27 | 1930569 ffart
ffart's picture

HOW DARE you implicate the Fed in fraudulent activity. Oh wait, our entire monetary system is a fraud? Carry on, then.

Wed, 11/30/2011 - 12:28 | 1930575 Dr. Engali
Dr. Engali's picture

I'm curious about the 190,000 Jan  call options on BAC opened up yesterday.

Wed, 11/30/2011 - 12:35 | 1930642 firstdivision
firstdivision's picture

I'd take that as a sign that the bank is trying to profit from vol, so when vol does drop buy some puts.

Wed, 11/30/2011 - 12:38 | 1930672 79
79's picture

I'm sure it's just someone hedging themselves. Nothing to see here. Apart from a fleet of helecopters.

Wed, 11/30/2011 - 12:28 | 1930576 Tense INDIAN
Tense INDIAN's picture

whatever they do ...we are more likely to have a HUGE DOLLAR RALLY ....look at the charts ......this could play out ::::

is that a HUGE INVERSE HnS in the dollar  charts ???

Wed, 11/30/2011 - 12:28 | 1930578 pauhana
pauhana's picture

Still can't figure out how the likelihood of a major European bank failure is worth 400+ pts on the Dow.  Doesn't sound like good news but I guess in this crazy old world, it is.

Wed, 11/30/2011 - 12:56 | 1930870 viahj
viahj's picture

dontcha know, pensions are heavily in equities and they control large voting blocks, gotta keep the sheep all pointed in one the slaughter (post election).  TPTB can't be all that concerned with equities, they go after real assets.

Wed, 11/30/2011 - 12:58 | 1930889 The Fonz
The Fonz's picture

I can think of a way. The market usually turns on any belief that is too widely held. Everyone believes this bailout is going to work.. for now.  The market USUALLY proves you wrong.  You would think it would be easier to make money knowing that :(

Wed, 11/30/2011 - 12:28 | 1930579 TideFighter
TideFighter's picture

There should be a Johnny Carson "fork in the road" a bit after 9:00.

Wed, 11/30/2011 - 12:28 | 1930581 HANKREARDON

I accepted this thesis on faith, now I know there was a leak and I believe.  

Wed, 11/30/2011 - 12:31 | 1930586 The Big Ching-aso
The Big Ching-aso's picture




"No tourniquet?"

"Not this time, it's only a severed arm."

Wed, 11/30/2011 - 12:39 | 1930678 HANKREARDON

"Just a flesh wound" - The Black Knight

Wed, 11/30/2011 - 12:29 | 1930587 Bansters-in-my-...
Bansters-in-my- feces's picture


Your goverment would not leak this info,I am sure.

The "FED" is your Goverment,is it not...?

Silly fucking rabbits.

I mean sheep,that fuck like rabbits.

Wed, 11/30/2011 - 12:33 | 1930614 old naughty
old naughty's picture

Last I heard, it was a corporation owned by a bunch of eh, you-know-what...

I am going back to my hole now...

Wed, 11/30/2011 - 12:34 | 1930615 old naughty
old naughty's picture

fast finger, sorry...

Wed, 11/30/2011 - 12:29 | 1930591 oleander garch
oleander garch's picture

We neither admit nor deny that this information was released to certain private interests before being released to the public.  Oh, and we promise never to do it again.

Wed, 11/30/2011 - 12:30 | 1930592 dracos_ghost
dracos_ghost's picture

Yup. Must have been the Olestra soaked pork rinds they were serving as snacks.

Wed, 11/30/2011 - 12:31 | 1930597 YesWeKahn
YesWeKahn's picture

Even they leaked it, it wasn't a crime. They are all out of law.

Wed, 11/30/2011 - 12:35 | 1930637 NotApplicable
NotApplicable's picture

Just standard procedure.

Wed, 11/30/2011 - 12:31 | 1930598 the not so migh...
the not so mighty maximiza's picture

bailouts and rumors of bailouts

Wed, 11/30/2011 - 12:31 | 1930600 firstdivision
firstdivision's picture

This same shit show happened last September, the day before the QE2 announcement.  There was one day in paticular that had massive volume to the upside at the last minute of trading. 

If anything, this crisis has shown that the markets have never been free, and that DC controls all rules of the game.  Can't say I'd be sad if someone vaporized DC seeing as how it is the largest concentration of criminals in the US. 

Wed, 11/30/2011 - 12:42 | 1930713 Janice
Janice's picture

Beware of the suited, cigarette smoking men in the black sedan outside your house.

Wed, 11/30/2011 - 12:48 | 1930787 firstdivision
firstdivision's picture

*peeking out the window*

Wed, 11/30/2011 - 16:27 | 1932082 RockyRacoon
RockyRacoon's picture

You'd think they'd be a bit more subtle in pulling off these things, but with the SEC on holiday season schedule there will be nobody to look into the situation.   Ain't no law that can't be skirted in this market environment.   There is no insider trading when you are both the insider AND the trader.

Wed, 11/30/2011 - 12:32 | 1930601 Non Passaran
Non Passaran's picture

Hmm, because of those thugs I lost money while shorting stocks, I guess I will have to compensate myself by paying less taxes this year.

Wed, 11/30/2011 - 12:33 | 1930609 CPL
CPL's picture

Well, corn is nearly two points over.  All this means is my retail price for corn seed is going to go from expensive to mortgage breaking.

CORN FUTURE (USd/bu.) 614.500 9.000 1.49% 11:07

Take the 614 x 3.8 and that is now the cost of cured corn seed on husk.  Although the multiplier now is only 3.8, with the "free ride" given, the multiplier is now 18.5.  To put it bluntly next year nobody in north america eats cheaply.


This will destroy the dining out experience and the dining in.


I hope most of you know how to bake bread, because this type of price hike destroys bakeries.


Wed, 11/30/2011 - 12:45 | 1930751 prains
prains's picture

The biggest loser show should incorporate fat people running from crowds of emaciated hungry people as part of their work out regime.

Wed, 11/30/2011 - 12:49 | 1930791 hedgeless_horseman
hedgeless_horseman's picture



Oats up too. 

Wed, 11/30/2011 - 12:32 | 1930613 bob_dabolina
bob_dabolina's picture

If the FED did leak would it matter?

Who would prosecute them?

Wed, 11/30/2011 - 12:33 | 1930624 CPL
CPL's picture

Exactly.  No one.  They are TPTB.

Wed, 11/30/2011 - 12:55 | 1930860 Liquid Courage
Liquid Courage's picture

Right. Remember this brilliant little epigram of John Harington (also spelled Harrington) (4 August 1561 – 20 November 1612)

"Treason doth never prosper: what’s the reason? Why, if it prosper, none dare call it treason."

Strangely enough, Harington was also the inventor of the flush toilet ... so I guess he had it covered coming and going, eh wot?

Wed, 11/30/2011 - 12:35 | 1930641 Cone of Uncertainty
Cone of Uncertainty's picture

This is why we all sit at our company owned desks all day, drinking stale ass coffee, posting on fucking zerohedge watching our upvote count, and the inside money men that run this muther fucker smoke cigars and get BJ's at lunch while sipping Dom and throwing back oysters and caviar topped Carr's table water crackers.

If you aren't in the club by now, you never will be.

Wed, 11/30/2011 - 12:38 | 1930669 firstdivision
firstdivision's picture

Caviar is the most disgusting shit I've ever tasted.  Never understood why people eat it.  I guess it let's sadistic people imagine they are chewing the fetus of the middle and lower class. 

Wed, 11/30/2011 - 13:14 | 1930964 SmoothCoolSmoke
SmoothCoolSmoke's picture

Damn!  Nothing like puffing  on nice big stogie with a great shaggy mass of brunette hair buried in you crotch.  Lucky crooks!

Wed, 11/30/2011 - 12:36 | 1930649 WonderDawg
WonderDawg's picture

I guess I shouldn't be surprised, but the blatant, unadulterated, in-your-fucking-face fraud still strikes me cold and leaves me wondering what they won't do to line their own pockets.

Wed, 11/30/2011 - 12:37 | 1930664 poor fella
poor fella's picture


Wed, 11/30/2011 - 12:39 | 1930681 Divine Wind
Divine Wind's picture

There will ALWAYS be leakage on moves like this. The bailout participants don't just show up. There are discussions, procedures and processes laid out, cover stories, out strategies, preselection of fall guys, etc...

With the sheer number of institutions involved, along the way, someone is going to let slip what is up, intentionally or unintentionally.

Wed, 11/30/2011 - 16:38 | 1932125 RockyRacoon
RockyRacoon's picture

If we can invade Europe without the Germans being any wiser, they can do this stuff and keep it quiet.  Maybe if they renamed it "treason" instead of "insider trading", they could keep some civility in the markets.   If some MPs with M16s showed immediately, instead of SEC suits -- eventually, they could maintain some secrecy.

Wed, 11/30/2011 - 12:42 | 1930718 Vincent Vega
Vincent Vega's picture

DOW +400 today...only leaves it down about 2100 points since the 2007 high. And we've spent (gone in more debt) how much to accomplish this feat of magic?

Wed, 11/30/2011 - 12:47 | 1930772 The Answer Is 42
The Answer Is 42's picture

There really must be blood on the street before things change. Mass apathy while the privileged steal and plunder like there's no tomorrow. This feels like the eve of empire's end.

And people are still embattled in their petty quarrels between tea party and OWS. What the fuck.

Wed, 11/30/2011 - 13:26 | 1931047 topcallingtroll
topcallingtroll's picture

Well said.

Wed, 11/30/2011 - 12:47 | 1930781 Everybodys All ...
Everybodys All American's picture

Leak it? Obama said America stands ready to help in the EU crisis. You'd have to be asleep if you didn't think he knew.

Wed, 11/30/2011 - 12:49 | 1930802 dbach
dbach's picture

This is why I love zerohedge, thanks Tyler!

Wed, 11/30/2011 - 12:56 | 1930874 Village Smithy
Village Smithy's picture

Speaking of "Context" how does it compare to Gartman's new ETNs, risk ONN and risk OFF ? Maybe some of us little people could use these ETNs to play the spread between CONTEX and the ES. 

Wed, 11/30/2011 - 12:56 | 1930876 madbuilder
madbuilder's picture

'the rich are getting richer, and the poor are getting drunk'

paul westerberg

Wed, 11/30/2011 - 13:06 | 1930881 razorthin
razorthin's picture

Heh,  where's the outrage OWS'ers and Neocons?  Or, are you just tickled that you can now be temporarily guiltless about savoring your superfluous xmas doodads and bloodshed?

Wed, 11/30/2011 - 13:02 | 1930912 lemarche
lemarche's picture

Banana Republic, full on !! Banksters and politicians colluding : 0.01% against... all the rest !!

Wed, 11/30/2011 - 13:03 | 1930920 AldoHux_IV
AldoHux_IV's picture

PPT and PWG the new SS of the new regime fed-- they get compensated well for doing the bidding of schemes that only serve to manipulate markets and ultimately price-- prices we as the plebs have to now pay for.

Wed, 11/30/2011 - 13:11 | 1930957 kralizec
kralizec's picture

The corruption in the Fed & the Obama Regime is transparent to all, except to leftist trash, like in the OWS slums!

Wed, 11/30/2011 - 16:40 | 1932154 RockyRacoon
RockyRacoon's picture

Why don't you find your rock and crawl back under it....

Wed, 11/30/2011 - 13:24 | 1931024 topcallingtroll
topcallingtroll's picture

So all you FBI might consider going after some big fish rather than wasting your time with us peons on a minor blog site.

Insider trading on nonpublic information is a crime.

Wed, 11/30/2011 - 13:27 | 1931045 xcehn
xcehn's picture

That was surely a rhetorical question.

Wed, 11/30/2011 - 13:28 | 1931054 topshelfstuff
topshelfstuff's picture

"""""""Well, now we have some details on what exactly was said and done on Monday with the Fed decision, perhaps it is clear that someone somewhere was tipped off that this was coming as the rest of the world's risk assets leaked inexorably lower and US equities hugely outperformed.""""""

I think that is pretty much a "given". The report yesterday, just for one example, re: Paulson's disclosure to his buddies, is amazing that this finally comes out and allowed to be "Swept Under The Rug".

There is one other point and I've mentioned this several times. It is one thing to hear or read about all the Winning days that X-Big Bank/Broker had in the past month.

We don't get to learn what the Big Boyz made in their Personal Accounts, be they off-shore, secreted, in whatever name. They have the benefit of making their "Bets" prior to pressing the Buttons for the Company or PPT's Big Bets



Wed, 11/30/2011 - 13:29 | 1931056 steelhead23
steelhead23's picture

As a private institution, isn't the Fed subject to insider trading laws?  Isn't the provision of insider information to others so they could benefit a crime?  Are the FBI and SEC investigating the FOMC?  Who's got Ron Paul on their speed-dial? 

Wed, 11/30/2011 - 13:33 | 1931072 slewie the pi-rat
slewie the pi-rat's picture

 <=== tyler is full 0'poo; so is zH!

 <=== i feel better, now; i thought i was losing it, there...waaay too many wtf's , even for month-end;  the bankster criminality theory explains 100%, once again!

Wed, 11/30/2011 - 13:36 | 1931094 kralizec
kralizec's picture

Don't be surprised to hear in the near future the killing Warren & George made with wise moves in late November.

Wed, 11/30/2011 - 13:45 | 1931144 MFL8240
MFL8240's picture

How else could their good friend Ben Bernanke gaurantee these crooks their year end bonus? 

Wed, 11/30/2011 - 13:51 | 1931166 undercover brother
undercover brother's picture

nothing will happen and nothing will be investigated.  it will be as if you never even mentioned it.   the congressman & senators are immuned from insider trading and therefore participated happily in the "wealth effect" as their wealth undoubtedly increased during this.   As for banks and hedge funds, well, as long as you're told my a government "crony", and you've made your donation to the Obama '12 campaign, you're in the clear as well.   Bravo. 

Wed, 11/30/2011 - 13:52 | 1931167 Bansters-in-my-...
Bansters-in-my- feces's picture

............Did the Bear shit in the woods..........?

If you can figure this out......

You got your answer....

Wed, 11/30/2011 - 14:05 | 1931226 Zola
Zola's picture

In France there were the Kings who could inflict life and death at their whims to their subjects. Eventually then the people had enough rose up and cut off their heads. The same thing will happen to these modern day kings called central banks, they hold the life of investors in their hands and as you said redpill, they are actively working against rational investors. It is time to cut off the heads of the snakes

Wed, 11/30/2011 - 14:18 | 1931320 godzila
godzila's picture

Just wondering - would it be illegal to leak such an inforamtion ? IMHO the answer is not obivous.

Wed, 11/30/2011 - 14:22 | 1931341 AndrewCostello
AndrewCostello's picture

The elite have been cheating for decades.  They tip each other off all the time and coordinate their activities for their own gain.

It is time for the public to rise up.  JOIN:

Wed, 11/30/2011 - 14:40 | 1931484 Random_Robert
Random_Robert's picture

I read through every one of these comments looking for MillionDollarBonus and his/her "magical" spin on how necessary all this intervention has become.

I can't handle the truth... the anxiety is overwhelming me. Where's my spin godammit?

Wed, 11/30/2011 - 16:51 | 1932221 Conax
Conax's picture

Anxiety- here's the fix. I got a hot tip today from a trusted broker-

"Liquidate everything, fly to Vegas, put it on RED."

Win or lose, the bullshit's over.

Wed, 11/30/2011 - 18:21 | 1932797 Catflappo
Catflappo's picture

What is 'funny' is that they are prepared to wait 48 hours in order to announce something they have already decided.  Why :

a)  Because then they actually get two bangs for the same buck - i.e. the risk pop on the rumour/inside trade, and then the further pop on the announcement,    and also

b)  Because then it will be such a huge time gap that everyone will have totally forgotten about Monday's move and won't be able to put 2 and 2 together.   Why, it's simply scandalous for ZH to suggest such a leak could have occurred !

Wed, 11/30/2011 - 18:36 | 1932865 Barry McBear
Barry McBear's picture

Tyler(s), did you guys see the volume that went off in BAC calls on Tuesday?  Jon Najarian was talking about how abnormal it was on his twitter feed yesterday, it was a mystery.  Almost twice as many calls traded as puts, 371k calls compared to 194k puts.  There was 192k in the Jan 6 calls alone, here's a pic (link courtesy of Najarian)...


Guess it's not so mysterious now.  

Wed, 11/30/2011 - 21:32 | 1933429 Old Poor Richard
Old Poor Richard's picture

How long does this bounce in equities last?  Shouldn't be long before people say WTF has actually changed? 

Maybe they're then pile into gold and silver? 

Thu, 12/01/2011 - 07:36 | 1934321 poydras
poydras's picture

I noticed that something was up in the forex markets when they opened on the US Sunday.

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