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i love the sound of BOOM in the mornings..
Me, too, but my wife sure doesn't.
S&P's down 30+ premarket.
I know I don't say this enough: I love your updates.
I hear a distinct "Plop. Plop."
Soon it'll be time to flush.
Yes, the sound of BOOM is lovely ... but doesn't have quite the punch as the sound of KABOOM in the morning ...
Good Citizens of Metropolis!
You're fearless leader needs a virtual hug.
I'm afraid. All my money is tied up in Korean won. If Europe shits the bed, I'm screwed.
Let's all pray the ECB fires up the printing press--for my sake.
I was expecting the following ZH headline this morning: "Aaaand...it's gone"
Orville Reddenbacher may be a good short term bet.
In the meantime Gold selling off, i will be looking with delight for the repeat of the Sept 2008 epic 1 day move ...
Sadly, I have to say amen,
I got some dollars to burn.
Don't to hastey!
This low may just be a momentary spike, then the discovery that the USD is not all it's cracked up to be and liquidity floods back into PM's. Safety is key here.
Finger now poised over speed dial!
Yep, I just moved my money into dollars for the next few weeks/months so I can profit from this selloff.
Gold and silver are so heavely linked to the euro because the eurobanks are loaded with it and use it as a hedge to protect themselvess that such a drop always pushes PM's down.
And as they will all pretty much go down to near zero pretty soon, PM paper will also crater, creating a very nice oppurtunity :)
And when PM paper craters, try taking the physical delivery and see if you get any, and at what price...
noooooooo! "commune with your inner fur ball."
i do not agree. "don't be hasty" indeed. Morgan's smoking his Cohiba. "Slow burn" as they say.
I lightened paper trades yesterday. However, I think we will only get back near (not to) the recent lows. Everyone is thinking the same thing.
Ummm ISDA says it's not a credit event so why should I care?
By design, credit events don't officially exist anymore. Stop waiting for one.
It's all good, good, good... until total anihilation. Nothing exists inbetween.
because CDS should be banned anyway
if there is a serious "credit event", the insurer can't pay. Well done, financial innovation.
and now you see the result. "Ain't got 5 billion? Come up with a trillion then."
Seems US banks think otherwise...
crack dealers - interesting article, GeneMarchbanks, it sums it up:
"Five banks -- JPMorgan, Morgan Stanley, Goldman Sachs, Bank of America Corp. and Citigroup Inc. -- write 97 percent of all credit-default swaps in the U.S., according to the Office of the Comptroller of the Currency. The five firms had total net exposure of $45 billion to the debt of Greece, Portugal, Ireland, Spain and Italy, according to disclosures the companies made at the end of the third quarter. Spokesmen for the five banks declined to comment for this story."
This total net exposure is a bit small, how much have their clients? A profitable business, indeed.
I don't disagree. Still, it goes to show the complete and udder belief in CDS.
Interesting times friend...
Rosie on Bloomberg just FYI
Lewlz look at that chart. You're going to have to resize those Bloomberg screens pretty soon.
Jezus, every European bank is crashing right now, it's like a "credit event" on it's own right now.
And the euro is also going down pretty fast, so PM's will also get hammerd for the rest of the week.
You mean all those banks that passed those "stress tests" with flying colors?!?
Time for Grimbergen or Chimay blue.
They're now vometing flying colors right now :)
And indeed, the weather is nice today so this calls for a good beer and some nuts.
Not a pretty sight. Looks like an entire continent is flash crashing.
Its cold and rainy here. Which also calls for some good beer and some nuts
70 degrees and no wind here in my office... good time to crack open a beer and some lightly salted nuts
So. Italian government orders 8 or 9 ipad hookers and it's fixed right?
ipad hookers : what's that ?
do they work for ipads or do you just get to see them on an ipad ?
you see them on your iPad and you organize a meeting with them,
if you are an Italian MP.
It's a reference about a "scandal" in Italy where journalists noticed what one MP was doing on his iPad while his whip was addressing the chamber...
Hookers is an iPad app that flips your charts upside down and changes the color red to green. Now that I downloaded it, I'm quite bullish.
you know, the slide to unlock kind of types
Forgive the schadenfreude but...
Does the risk-yield relationship hold any water at this point? When all sovereigns are bankrupt, why does the US 10-yr yield 600 bps below Italy's? Are either of these going to make good at expiry?
For some reason I just saw the ES-mini plung to 1212.5 and is now back to 1218.5. This happend within a few short minutes.
Any ideas what happened?
Prolly just a pre-open test for some new "no-news-no-volume" algo to be launched around 3pm to float the S&P up from 1185 to 1201 by close.
QE3 annoncement in tandem with EFSF announcing 4 trillion euro leverage by next week. Over/Under?
Touche! They will print...never let a good crisis go to waste!
Under. Threat of QE is enough to fade the Euro-bux print-o-matic and keep the dollar from running too far afield. Benny's not going to print until he absolutely HAS to, and I don't think we're there yet.
i say long shot. "100 to 1." you know who is pushing it of course...
Uh, what does gas cost again? Even football fans can figure that one out.
TYLER- time for the Deer in the Headlights picture with the ECB and IMF featured....
SocGen down over 20% from its close on 10/29.
Could someone please explain the significance of this? Is this the real deal, or just another of the ten-a-day ZH "OMG it's the end of the world" posts?
If Harry Wanger was here, he could explain it better than I could. In summation, it would be along the lines of, "ZOMG Italian bonds are sooooo undervalued. Buy them and AAPL".
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