This page has been archived and commenting is disabled.
Market Snapshot: Open Modestly Positive (For Now)
S&P futures just opened mildly positive in line with the recovery in EURUSD from its Sunday afternoon lows (having broken below 1.335). As we post, Gold has opened very noisily but remains a little higher than Friday's close at around 1642. It seems the apparent no news from Dexia (which is clearly terrible news) is yet to be considered by reality but as we noted on Friday, the fact that Treasuries are closed suggests reactions may be a little unexpected with no immediate safe haven to flood to. JPY crosses are slightly higher sustaining the very small bid under ES for now as it tracks a small range around 1157-8. Very early runs in credit land show a small compression in Main and further senior-sub decompression in financials. Oil also opened up small but more reflective of the small drop in DXY than anything else for now.
Chart:Bloomberg
»
- 10052 reads
- Printer-friendly version
- Send to friend
- advertisements -
For all the knashing of teeth the last few days, looks like Dexia is a non-event.
Hey, at least gold is up, so most of the ZH bloggers should be high-fiving the ES futures ramp.
Robo got a first, bitchez!
Robo still never been laid though.
Most likely RoboTarder has never made a trade either.
Speaking of Dexia, on July 7 & 8 this year, S&P and Moody's gave Dexia A1 and P1 ratings, respectively.
See page 11:
http://www.dexia.com/EN/journalist/press_releases/Documents/20110408_CP_...
While not the top ratings available, just three months later...and they're gone!
http://www.henkel.com/com/content_data/Ratings_overview_english.pdf
Not that we didnt already know but these ratings agencies really do not know what they're doing...or do they???
(maniacial laughter)
Play nice.
He hasn't figured out how to get a chick into his mom's basement yet.
The banks are going to print, print and print.......Mervyn King summed it up, "What a mess we have created - sacrifice the pensioners and savers. Print."
This 2010 r squared.
Who cares about ES futures.
Tell me about Pitchfork futures and Torch futures.
You can always set your watch to the typical low vol, Sunday night futures melt up. Fraud and manipulation at it's finest.
Keep f'ing that chicken.
treauries closed, EU repos not reacting before 7 hours from now, why should there be a gap down in Asia? Dexia is not Lehman re direct effects. The problem has not occured during the weekend but last Tue, decisive EU policy action has lost its credibility before the announcements of crucial meetings this weekend and the structural consequences of Dexia such as credit rating impacts yet unassessable, you will have to wait at least until some time during the day tomorrow for things to unravel.
Nobody cares anymore about Europe.
I never did care about Europe. I cant think of a single thing I NEED from Europe at all.
Errr, if you drive ANY car, travel by train, or even sail a boat, maybe you need something from Robert Bosch,
Yeah, well England has Lucas. (cancel each other out)
Who gives a shit?
Like no one else can possibly make it as well?
Betcha Chineee good makie.
China can copy anything, theyve got Blackberries and IPhones knocked of cheep cheep....they sure as hell can make a spark plug or a motorized hand tool.....fuckin shame is WE no longer can!
Brent comes from Europe. It fed you today.
And to see how the game is being played, scope this list of the world's oil prices:
Tapis $116.63 http://www.bloomberg.com/apps/quote?ticker=APCRTAPI:IND
Brent $106.15 http://www.bloomberg.com/apps/quote?ticker=EUCRBRN1:IND
Alaska $107.63 http://www.bloomberg.com/apps/quote?ticker=USCRANSW:IND
Louisiana Sweet $109.48 http://www.bloomberg.com/apps/quote?ticker=USCRLLSS:IND
WTI $82.98 http://www.bloomberg.com/apps/quote?ticker=USCRWTIC:IND
African Bonny $108.29 http://www.bloomberg.com/apps/quote?ticker=AFCRBONL:IND
Euro Forties $106.53 http://www.bloomberg.com/apps/quote?ticker=EUCRFORT:IND
Asian MINAS $115.46 http://www.bloomberg.com/apps/quote?ticker=APCRMINA:IND
Arabian Gulf $100.98 http://www.bloomberg.com/apps/quote?ticker=PGCROMAN:IND
Urals $104.49 http://www.bloomberg.com/apps/quote?ticker=EUCRURNW:IND
Anyone want to find the bullshit generated outlier? This is why you're paying 30+% more for gasoline than last year.
Fuck Brent. I went fishing today and ate those.
You're not being efficient, at least that's what Michael Porter says.
maybe, hair...
im curious of whats going to happen when hong kong opens...
my guess is gold is going to take off like a rocket...
Gold up $3 and Silver up .20 on open.
someones dumping treasuries, 2 yr and up
10 yr yield up 9
uh oh
sorry, my bad...
I'm convinced this pig world market reflects the least common denominator, and, given our Fearless Leader, he is the least.
Meltup continues to 200 ema
All the other people on the rope line are busy trying to cut themselves free as their being dragged toward the cliff edge.
I don't know what purpose the DXY is supposed to serve when the majority of imports come from China these days, and not europe.
Futures arent reflecting reality? No WAY!
Besides futures are now completely irrelevant, look at Fridays maniacal market actions, 100 point swings in minutes.
US seems to be cheering but Germany/UK futures not that happy!
Where do you check futures for those?
http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm
Ty kind sir, way beteer than finz
Where do you check futures for those?
1492 columbus sailed the ocean blue bitchez.
And carried an old world disease to the new.
the new world may have gotten the shit end of the biological warfare stick but keep in mind that correlation doesn't always imply causation.
edit: or perhaps you weren't referring to viral and bacterial diseases at all? either way tomorrow is columbus day so suck it bitchez.
In case you haven't read it, you might enjoy 'Guns, Germs, and Steel: The Fates of Human Societies' by Jared Diamond (1997).
Good book!
+1 super book
They carried New World diseases back, too. Syphilis. It wasn't as slow-acting as it is now. Back then, you got covered head to toe in pustules and you died within months. Cuts both ways...
In case you haven't read it, you might enjoy 'Guns, Germs, and Steel: The Fates of Human Societies' by Jared Diamond (1997).
Good book!
I sometimes forget that many cultures rue the day "dirty europeans" rocked their world. I wasn't trying to be insensitive. Don't worry indigenous peeps, many populations are now outbreeding the white menace, and then it will be party time.
Europe is a zombie. Watching Asia, if indexes start to go neg....
Aussie gapped down and filled the gap, and reversed lower.
if the ASX200 overshoots it's sell off (following S&P500 sell off) should drag the AUD down.
The market looks confused and nervous. China (fudgy) data due next few hrs, watching money supply. also wanna see if the commie stat people freak out the market and reveal a really low CPI. We hope.
http://www.chinadaily.com.cn/usa/business/2011-10/08/content_13848279.htm
...very good link!
I would think we get some type of retest if it's going higher.
Relax, people starts shorting their moms .... shit in shit out,,,, This world have gone 50years through same debt issues and never collapsed with exact deficits and gimiks. Greeks in the last 100 years have defaulted 20 times they had same balance sheet including the debt of US. But now some smart ass'es have discovered the word DEBT and are shiting all over without pumpers.
belly snort. and yet smart asses like you have not discovered the word counter party risk...go figure
Another idiot who says today is no different than 100 years ago....taken a look at M-3 chart lately?
Nothing much is going to happen in the next 24 hours.
Just a bunch of robots and HFT's playing ping pong with ES futures, back and forth in an illiquid market, with the usual sudden shanks, boner runs, clothesline drops, etc.
Basically just more "bloodsport" among the action junkies playing around, seeing which guy can "off" the other guy the fastest.
No different than Mayweather and Ortiz talking a bunch of trash on TV in all the interviews before the real fight begins.
Robo bum, you jus' talkin' me bad to buyin' mommaz ass sum stocks, Yo!
robo has like five monitors
do not mess with him
Only 5?... That's not including the 3 Plasma TVs right?
yeah, he has bloomberg, cnbc, and the religious channel all going at the same time.
yet he can't spell "gnash" properly. Wassup wid dat?
I just got that one. :derrr: Funny.
I love how the futures open positive almost every fucking night.
God, I love that shit. It's so real-like.
Boring monday morning.
The market will soar tomorrow for no other reason that the ALGO's have been instructed to be on high alert. And with the Merkel/Sarkosky plan of a plan to make a plan of a plan that will bail out everything, I expect to see at least 7% this upcoming week.
While I believe it'll all come crashing down in the not so distant future (how could it be otherwise), the problem near term is with DEXIA being nationalized, and the French/Belgium government taking over, the markets will see this as a decisive sticksave, neverrmind the fact that Belgium will not be able to fund itself through Dexia anymore. And now with all other banks getting the plan of a plan to make a plan of said recap, and the market buying every false headline, watching what happens will be a waste of time in the near term....because the market will surely rally hard within the half hour of close--yet again tomorrow.
I'm hoping the market skyrockets the rest of the year, then, and only then, will I finally be able to get a good short on. It's all too obvious the market should crash right now--this week, which is exactly why it will not happen. The market always does what it's supposed to do, just never when it is supposed to do it.
The market should not crash now. The market is earnings focused.
They will be poor. They will not be zero. And so slow, relentless downward slide is the future, of all things.
Just not on your time... It will crash when you are all in... Robo should be your advisor
Robo say fuck yo bad be buyin 'momma sum dem stockz, Yo!
Slovakia, bitchez...
Wall Street protest full steam today! http://www.youtube.com/watch?v=4V1dmlRpe30
This is at least a week old clip F...ING moron. So, it is fine to lie now, as long as it's for a cause? Makes me barf...
That's still a powerful image at 5:50 - http://img37.imageshack.us/img37/9097/52639952.jpg
Spring Cleaning in Egypt
Spring Cleaing in Libya
Cairo clashes leave 23 dead after Coptic church protesthttp://www.bbc.co.uk/news/world-middle-east-15235212
Tawergha refugees fear slaughter in Sirte (ethnic cleansing)http://www.digitaljournal.com/article/312281
“They arrested about 25 of the men,” Mohammed said. “They were shooting in the air and hitting them with their rifle butts.”
“They took the women, old men and children out in trucks,” he said.
http://libya360.wordpress.com/2011/09/14/empty-village-raises-concerns-a...
Barry high fiving Hillary! on this and both lighting up victory stogies.
SARKOKEL lights a cigar and throws its feet up..
http://www.bloomberg.com/news/2011-10-09/u-s-stock-index-futures-advance...
Look for a bear market this week!
Bull
Aloca won't fudge their numbers, meaning they will be crap, so that the YUAN bill is justified and the trade war can rev up.
Markets should turn neg hard mid week, then rally end week...hoping.
Yes I concur, markets should be up then down, or down then up.
No - BEAR I SAID!
As it ever was
Bring on Vive la Revolution
Watched "Orphans of the Storm" 1921 film ... we need la Revolution around the world now!
Great film catching similar zeitgeis of OWS, bankers, etc., is the newly relaesed full cut of Metropolis.
Im bearish on all financial assets. But what about this news is particularly bearish? Tyler? (This was pretty much expected - the nationalization - IMO). A series of such nationalizations is coming and I would guess initially will be bullish as they will be Euro equivalent of "Greenspan put' other than the individual name involved (In this case Dexia). But message to mkt is that govts will step in to stem any systemic risk.. (Until they are the Dexias, but that moment is not now, and certainly not based on this news).
What am I missing?
You're a bull in bear's clothing is what you are missing!
The nationalization wave is a zero-sum game. The funds needed for such a move under the currently rather nervous rating agency regime and historically overstated sovereign ratings lower the sovereigns' credit ratings, which in turn increase the cost of borrowing for the freshly recapitalized banks. Say hello to the downward spiral and that is the positive case assuming Europe at one point manages to articulate not only an nth-degree plan, but enforce action.
Funds? Funds? We don't need no stinkin' funds!
debt financing, I meant to say instead of funds :-)
Zero-sum game was actually not intended to let nationalization appear positive. It is supposed to mean, you cannot rescue excessive debt by excessing debt. Not even believing one is the super smart EU politician, outsmarting markets by leveraging not yet decided upon state-guarantees to appear the x-fold amount of real cash. And it is a zero-sum game AT BEST.
EPJ:
Is a New Retroactive Tax on Muni Bonds Coming?
Let's fuck around with Google algorithm. Wonder how many market indictors we can throw for the loop
China currency bill, due for a vote in the US Senate on Tuesday.
If US Senate currency bill is passed, China threatens to sell all US holdings.
heeheheheee
I think it may be safe to try to catch a bounce.
I dont think i am compensated for the risk of usa stocks with a dividend yield less than two percent.
Brazil has higher projected growth rates, a pe of 8 and a dividend yield of almost seven prcent.
Buy ewz.
RON PAUL for President 2012, He'll get us out of these wars! Stop a World War. Bring back our soldiers, they're suffering! He'll stop the central bankers from central plannning for a global neo-feudalism!
RON PAUL is THE REAL THING!
I wish all these would just happen... 99.9% of the world is oblivious to it all anyways. Why wait 3-6 months? They may be slightly more informed then. Maybe they want to not only ripping everyone off but for everyone to know they are ripping them off too. Why did I buy BAC and MS december and January puts???? ERRRRRR
Me got faz calls! For the same reason!
Me short! Stay Short! Fuck WS SHILLS, I'LL GET MY POUND OF FLESH IN THE NEXT TWO WEEKS!
Is NIKKEI closed or what? Can't get an update?! I assume it went up since the futures got a push up..
or what
Yes, I can't get the updates? Nikkei Live isn't giving me anything..
Tokyo closed for Health and Sports Day.
http://www.tse.or.jp/english/about/calendar.html
so, no more radiation?
...S&P up 10 handles. The present plan of a plan to plan a plan (in existence til next Sunday's meeting between merkel and sarkozy)is BULLISH.
Who gives a shit, Sunday nite 'futures' read is the most non-telling thing ever and besides S&P now swings 20 up and down in minutes...wash rinse and bend over bitchez, longs and shorts youre all going to get bled dry.
it looks like another big short squeeze is coming tomorrow.
Right, all 'the shorts' keep lining up to be raped by the FED daily....give me a break no one could be stupid enough to think thats what is actually going on.
The Euro currency may be in for some more downside action tomorrow. The 1.3400 is now being used as resistance.
http://razorsforex.blogspot.com/2011/10/euro-to-continue-downtrend.html
Seems like support now?
thanks to those smart scientists staying up at night to research the 'resistance phenomenon' at 1.34...
Why would anyone be short with every CB on the planet in full "Print" mode? New highs for the year coming in commods and gold shares. Molten lead enemas for the shorts.
The FED is who is short big time with your money. Enjoy the show.
and they are not in'full print mode' lol. 268 trillion in broad aggregate money supply, qe added unloanable assets to commercial banks balance sheet, and 250 billion actually printed.
Only on ZH (a site a quite like - but for the news, not the comment-as-wisdom) is the meme 'full print mode' accepted dogma
The CB's have been printing like madmen since Jan and our markets collapsed in Aug and they are still printing. So, if the print jobs can't keep markets in a super bid bull run, then the printing might start to be ineffective. You can see this now, with just rhetoric supporting markets.
How long can that last? Till the market panics locks in profits and sells. That could happen any moment, half a week of meltups and then a sell on Friday...that is bearish. If Aloca comes in weak and it should. Then you got ride down on this
DOW futures up now up a modest 129 points...WTF???? so I guess Dexia nationalization is good news?
Everything is looking overbought.
EUR bankrupt is bullish. Go S&P!
Well, at least gold is being dragged up kicking and screaming with the ES ramp job.
Crude is up, Australia up, might be "Risk On" next week where the Wildebeest Herd piles right back into the same items they dumped en masse last week.
Meanwhile FT is running more "gloom and doom" articles.
http://www.ft.com/intl/cms/s/0/bd7d2ed0-f26e-11e0-824e-00144feab49a.html...
Wait, what exactly was " dumped en masse last week"?
Just buying ahead of earnings imo.
I just heard Batman saved Gotham from doom, so Ben and co. can stand down.
Boys, they will just nationalize the banks one by one. They will fuck the pensioners, working poor, the unborn, everyone. Until they are dragged from their limos/offices and shot in the street for selling their own country, their own world.
Until it gets to that point, nothing changes.
14.10.11
[DX]@(5513-5632)
[EURUSD]@1.3681, (S=>10.10-11.10,L=>12.10-14.10)
11.11.11
[SPX]@(1204-1234]
Well done! Thank you very much for professional templates and community edition sesli chat sesli sohbet