Morning Audibles 7.14.10 - Storm the Bastille

Let's STORM THE BASTILLE! (18th century version of "let's TORCH THE JOINT")...






I suppose it would be rare for something like that to occur nowadays... After all, it wasn't so much intellectual "dissatisfaction" that prompted a revolution, it was HUNGER...


During the reign of Louis XVI, France faced a major economic crisis...


There are ample volumes of history written about the events which led to the eventual FLASHPOINT(S)... The "Storming of the Bastille" being actually the 3rd in the sequence (Interestingly, the Bastille, a prison, only held 7 prisoners at the time, but it it what it "represented" (peasants vs. royalty) that made it important... Factually though, it was more STRATEGIC in that it housed an arsenal of weapons (which is really what the mobs were after)...


During the public demonstrations that started on 12 July the multitude displayed busts of Necker and of Louis Philippe II, Duke of Orléans. The crowd clashed with the Royal German Cavalry Regiment ("Royal-Allemande") between the Place Vendôme and the Tuileries Palace. The Royal commander, Baron de Besenval, fearing the results a blood bath amongst the poorly armed crowds or defections amongst his own men, withdrew the cavalry towards Sèvres. Meanwhile, unrest was growing among the people of Paris who due to their hostility against the Fiscal Legislation of State's Farmers, started attacking customs posts blamed for causing increased food and wine prices. The people of Paris started to plunder any place where food, guns and supplies could be hoarded. The next day, on 13 July, rumours spread that supplies were being hoarded at Saint-Lazare, a huge property of the clergy, which functioned as convent, hospital, school and even as a jail. An angry mob broke in and plundered the property, seizing 52 wagons of wheat which were taken to the public market. That same day multitudes of people plundered many other places including weapon arsenals. The Royal troops did nothing to stop the spreading of social chaos in Paris...


With 40,000,000 Americans on FOOD stamps (that's about 1 in 9 as you stand in a checkout line and look around you), at least most are getting FED (which is why they're not FED UP, yet)... Likely, that same one that is getting fed in this manner is banging out text messages to their friends on an electronic device that requires a vast array of microchips to get the message from one tomato can, through the string, and to another tomato can...


Of course we, like, know, like, OMG, that like, that message, is like, sooooooooooo important... We probably also know that those devices are going to be like, totally ancient  in like, 6 months, and like, OMG, it would be so like, embarrassing to have anything but like the most rad new model...


So this little fable is CV's "feeble" attempt to connecting the events of July 14th, 1789 with INTC's "record" quarter (and how to understand that, and QUANTIFY it in the slow motion train wreck that is the American economy)... Ironically, one of the reasons that the French economy was so bad back in that time was because of the money it lent to the United States in its war of independence from the British Empire...


More well spent capital...


Retail sales coming up at 8:30...


Let's see how OTHER "geniuses" are spending their capital (and/or PHD's "cooking books" to make it appear as if it's being spent wisely)...



386 comments:

«Oldest   ‹Older   201 – 386 of 386   Newer›   Newest»
CV said...

@Ritholtz

Does your "model" include the use of:

- lego squares?
- lincoln logs?
- jenga blocks?

karen said...

fomc wildcard topstep: http://www.youtube.com/watch?v=xwYKhh5pE5g

McFearless said...

C,

most wave 4's have a sideways type form yes, but really we just want the pattern to alternate with what we call wave 2, there are several different shapes corrections can take.

Leftback said...

What new DOVEY DOVEY thing could Ben coo in Mr Market's ear?

They may say they see continued weakness, and Mr M might decide that he doesn't like that, and put in a dip of his own.

karen said...

sonar: http://www.youtube.com/watch?v=v7VQDRO_f14

I-Man said...

Hmmm... something aint right.

Just pulled my sell limit.

Leftback said...

It's almost as though everyone is waiting for a HAND SIGNAL from the WIZARD to JAMIE and LLOYD.

Weakness in the economic outlook and FED on hold indefinitely - surely that triggers buying of Ts and a USD squeeze.

I-Man said...

Feels like the market is coiling up a spring to take out the intraday downtrend off the high...

Mannwich said...

Waiting for Guffmann, I mean QE2?

Leftback said...

No QE2. Hoenig said they should do nothing.

Not for a long time. If they did a QE2 that would be tantamount to saying that we are going to double dip - and that would be too TRUTHY for this environment.

KRUGMEISTER is going to have to sit in his brand new MANHATTAN apartment and whine for more STIMULUS to destroy his debt.

QE2 will only happen when we are in frank deflation.

Leftback said...

TLT baby.

Mannwich said...

Great point, lb. Probably true. QE2 probably by '11 though.

CV said...

I'm just going to keep harping on this BS (until it sinks in)...

White House: Stimulus saved 3 million jobs

WASHINGTON — President Barack Obama's economic policies have significantly boosted U.S. growth and hiring this year, the White House said on Wednesday as it seeks to counter sagging confidence in his economic leadership.
A quarterly White House report estimated Obama's $862 billion economic stimulus package, which he signed last year, has so far lifted employment by between 2.5 million and 3.6 million jobs, while giving growth a big boost.
"The impact of the fiscal stimulus suggest that the (Recovery Act) has raised the level of GDP as of the second quarter of 2010, relative to what it otherwise would have been, by between 2.7 and 3.2 percent," the report by the White House Council of Economic Advisers (CEA) said.
"Real GDP growth is expected to remain steady in the second half of 2010 and throughout 2011."
The first official estimate for second quarter growth is released on July 30.
Growth in the first quarter was 2.7 percent, continuing a gradual recovery from the worst recession since the 1930s, which has yet to dramatically cut a painfully high unemployment rate that stood at 9.5 percent in June.
Vice President Joseph Biden said the economy "would be barely growing at all" without the emergency spending.


---

In similar news...

The WASHINGTON REDSKINS announced that the $100 million dollar contract they gave to Albert Haynesworth (to sit on his fat ass and do nothing but complain) "saved" them from being blown out by 16 touchdowns per game last year (instead of only 2)...

Even though they had the 4th to worst record in the NFL, "It could have been a lot worse", says redskins owner Dan Snyder...

The Redskins will now be looking for new "high priced" free agent signings for 2010 & beyond, and will be raising ticket prices in the coming years at Fed Ex field to pay for these acquisitions...

BinT said...

I just wanted everyone to know that things are going to be better. Gave my nurse a raise, and that should create 20 million new jobs..(velocity of money or something like that) and my investments last week will, according to Ms. Romer, allow another 20 million of capital investment.

Of course these numbers could be as stale as a warm Guiness...

Leftback said...

QE2 February-March '11 if we see my Bottom™.

I-Man said...

Dont bite, shorts... I smells a trap.

Leftback said...

B in T:

At this salt mine, raises were 0% in FY 09-10 and 2% in FY 10-11.
Hard to see how you generate 3% GDP YOY out of that.

If there is another crisis, it will be 0% in FY 11-12, obviously.
That averages out to 0.66% YOY.

Leftback said...

I-Man:

I am in them already. Did Giles find the switch?

I-Man said...

I dont trust it Lefty... something isnt right. I think this just sets up a new launch pad...

But maybe thats what the Market wants me to think...

In any case, I just bought the dip.

I-Man said...

And just got spit out, but thats the way it goes.

McFearless said...

haha, no pop here, that was dead wrong.

bob said...

http://ftalphaville.ft.com/blog/2010/07/14/285751/is-something-really-scary-coming-in-october/

Good story and look at what is going on with the vix and vix etf's. More UNG.

CV said...

FWIW -

I don't see much happening except some back and forth in the 1091-1098 range...

This is day 2 failure to close above 1098... It ought to give it at least another day of trying...

SPY 110 will be pinned for Friday morning open...

Probably get a launch off that... end of A wave... Pullback to 1070 next week...

karen said...

alaidi - watch that 10 yr yield testing 3% as #FOMC downgrades econ growth. GBP Outperforming CAD as loonie hurt by negtv US outlook $$

CV said...

Of course if we paint the lower end of support here, then ramp even only 5 handles into the close...

ZH will tell you all about the "behind the curtain" lever pulling by Boris Badifoff...

Mannwich said...

@cv: LOL. Classic.

Leftback said...

Bob

The Hunt for Red October™ !!!

LLOYD and JAMIE have already planned the dates of
LE DÉLUGE, PART DEUX™.

CV said...

@McF

I feel like a total wimp for doing so...

But back here at this .009 level, I'm going to get myself slightly more neutral...

I should have done it this morning...

But I'm tired of getting beat up for 7 days straight...

Leftback said...

SELL EM BITCHEZ.

LB is on a roll.

karen said...

Fed: Pace of recovery slower than hoped, but no double-dip recession
07/14/2010 02:06:27 PM

(remember the SIC /subprime is contained)

Leftback said...

Wonder if Timmy got a memo from Beijing and sent it out ?

CHINESE HOUSING COLLAPSE IS "CONTAINED".

McFearless said...

guys, they already confirmed when QE2 would be announced...AFTER the next crisis, they said it...not me.

McFearless said...

I'd like to think the shape of the market since the lows this morning is a giant frown.

waaaaaahhhhh

CV said...

People...

Focus here for a minute...

This is WEDNESDAY of an opex week (with SPY 110 in the headlights)...

Does anyone really think people are "hanging on" to the words of THE BEARD for anything more than 1 minute moves?

Hu Jintao said...

沒有房屋泡沫。 我們告訴蓋特納說。

Leftback said...

QE2 after P3, 1.00 TNX and 30% U6. UC?

McFearless said...

"Fed: Pace of recovery slower than hoped, but no double-dip recession"

Indeed, calling for no double dip could not be more consensual...don't be fooled.

NBER data shows 2 of 4 metrics they use to call recession show we never really left the original recession anyway, hence the silence.

McFearless said...

karen,

next time I try to count waves on such a short scale feel free to send a virtual slap upside the head my way.

Cold Steel said...

Bend over, LONGS. It's that time...

McFearless said...

hey lefty, nice calls man.

McFearless said...

Rosenberg is also out saying it's the weakest "recovery" on record, so it begs the question...was it actually a recovery?

I-Man said...

nice work LB

McFearless said...

how long until these guys get bought?

July 14 (Reuters) - BP Plc (BP.L) (BP.N) would be barred from getting new offshore oil and gas exploration leases for seven years under bill language passed on Wednesday by a U.S. House committee.

I-Man said...

Finally had a sell lim hit... just in time to get whipped, probably...

Leftback said...

The auction was the key event, on the same day as FOMC and before the PPI and CPI which will be deflationary - this is all related to the monthly dynamics of the Treasury/credit market.

If Mr DEALER has to buy a load of Ts on Thursday, then he wants the price of the Ts to go up after he puts down the WONGA. So he calls his DESK and says, here, you boys need to go risk off for a bit. So the DESK sells risk assets and after a bit the equity market falls, so the punters buy Ts and drive down the yields until the HOUSE is in profit, then after a few days, the DEALERS unload the Ts to the willing buyers and BAG the cash, which we then put to work for a few weeks in the JUNKY high yield sector, until punters notice that market and they come along and bid up the JUNKY prices, so that spreads narrow and yields on Ts drift up - and then we get ready to buy Ts again, at the next auction.

You can learn a lot - just by watching !

mcHAPPY said...

I'm going to leave the computer for a couple of more hours. I still smell a bear trap and will not be upset if wrong! 1106-1110.

Back in a while!

I-Man said...

I-Man was Lloyds bitch just now.

Gonna go cry under my desk for a few.

McFearless said...

left, yeah, the govies came down some during the rally, but never all that much relative to the move up in stocks....you are the man when it comes to fixed income.

Leftback said...

What you need to remember is that it is all rigged for the DEALERS to make money, otherwise why would they participate?

Not that holding the long bond is a bad idea here, but there are additional profits to be made by trading around a core fixed income portfolio.

Perhaps LB should join PIMCO, and buy a mansion in SoCal.

McFearless said...

throw the diamonds up:

http://finance.yahoo.com/news/Mugabe-Diamonds-can-revive-apf-3301653512.html?x=0

McFearless said...

but I hate that word rigged, all business are set up in a way to give the business owner the advantage....all business, the markets are not any different.

Leftback said...

True. But people don't realize how non-random the gyrations of the bond market are, because most bond investors really do BUY & HOLD.

McFearless said...

anyone here drive a lot?

I've been driving a lot for many years now for meetings and such, the roads have never been so bad from Baltimore up to Philly, not even close.

Leftback said...

A beauty from a reader over at ZH:

"My name Borat, I support Mr Bernanke program to transform US an A into Khasakstan in 5 years.

Hi 5 Tim.... wawawewaaaa"

Mannwich said...

Perhaps there are different levels of "rigged"?

Mannwich said...

@ben: Roads are atrocious here. Not necessarily traffic but the condition of them.

Mannwich said...

But I do NOT drive a lot, thankfully.

CV said...

The desk sells "2 hours worth" of risk assets, taking you to the .009 FIBO pullback from yesterdays high...

Then, the HFT's buy the market back up on low volume for the remaining 1 hour of trading, on no volume, to keep SPY 110 strike in the crosshairs for the Friday morning open...

McFearless said...

manny,

that's what I mean, the shape the roads are in, rt 273 which is very close to my house....ripped up something awful right now, and I think they have run out of money so it's not getting fixed. Our budgets here got killed b/c of the snowstorm...oh yeah...and the debt.

Mannwich said...

And I most definitely DO think the markets are a different levels of "rigged" than most other businesses. After what we've seen with Wall Street and Congress, how can we NOT think that? But that's just me. I don't work in the industry (anymore).

McFearless said...

C,

It's distribution baby!

Mannwich said...

Roads are horrible here. Potholes everywhere. Construction on the cross-town freeway for nearly 2 years now. THE worst road in the metro, bar none. Thankfully, I believe it's going to be finished this year.

Leftback said...

CV,

Not sure, I think that dip buyers are going to get burned here.
It is only Wednesday.

CV said...

VIX = green candle again...

McFearless said...

Manny,

You care to offer any examples? 2:49.

karen said...

so per all my earlier $tyx posts.. on the 60 in chart, it dropped to the power uptrend line from july 1 which is also the 50 ema.. on the daily chart, you'd think it might break thru the 40.0 cuz i'm not sure this area offers much support having been tapped twice now. P&F has a bearish price obj of 34, fwiw.

CV said...

We have a market within a market here...

I'm still saying we hover close to 1100 through Friday...

Last two days... TWO KNOCKS on 1098 (I'm starting to like that "18" concept)...

Friday, maybe a short push above, then reversal...

B wave next week...

I'll stick to that until it gets busted...

Robert Gates said...

We're building a lot of new roads in Iraq and Afghanistan, if that helps.

Leftback said...

Lots of data points tomorrow.

PPI, Empire State, Philly Fed and Industrial Production.
Oh yeah - and claims.

Plenty of room for banana skins among that lot.
Friday is CPI. We know that one (0).

McFearless said...

no doubt left, by 8:35 the outlets are going to be scrambling to reveal which news item is moving the futures.

CV said...

...anyway, we ought to know soon...

The small reverse H&S is at 1095, which is a 61.8% retrace back to todays high...

That could get tested in the 3:00 hour...

Mannwich said...

Do I really need to? I know you're in the biz and have to drink the kool aide a bit but you don't think that Wall Street isn't more rigged than other industries?

It's the most opaque industry, by far, in the world today. Just a couple of basic examples:

hidden fees
front-running of mutual funds and other investments
HFT
bailouts ad nauseum for the criminal sector that goes us here

Do we need others?

CV said...

"PPI, Empire State, Philly Fed and Industrial Production."

Oh yeah - and claims.

All that tells me is that Steve Liesman keeps his job at least until Saturday... :-)

Leftback said...

Surely a reversal to the 1070 level wouldn't surprise anyone?

Tomorrow could see a continuation of today's move if Asia/Europe follow on and reverse some carry trades. The yen is very strong.

I-Man said...

I think I'm done for today... not feeling the love from fed days as much as in I and I youth.

Spliff, dub reggae, and chores from here on out.

Later!

Mannwich said...

Rampant collusion by industry insiders (e.g. Paulson and Goldman, etc.).

The entire market is gamed and rigged for the insiders to take Joe and Jane six-pack's money any way they can (and there are now many ways they do it). You know how I feel about it by now. Shouldn't be a surprise to anyone here.

karen said...

1070, a dip to buy : )

Mannwich said...

Why do we get phone boom and bust all the time now? Who makes out in that scenario? Not the average Wall Street customer. The big dogs, maybe, but not any of us. The whole thing is a sham. I'll keep saying it until I see proof otherwise.

McFearless said...

Manny,

No no, tell me how Proctor and Gamble is different, or AstraZeneca and Exxon Mobil for that matter.

Mannwich said...

phony...

CV said...

Sorry guys...

I want to be more pessimistic here... But I've been conditioned like PAVLOV's bear...

- The selloffs aren't as deep as they should be...
- The rallies are always higher and longer than they should be...

McFearless said...

"Rampant collusion by industry insiders"

again, name one large industry there isn't collusion by insiders....you can't.

Mannwich said...

Like I said, different levels of "rigged". All the big players and industries rig things to different extents, for sure, but for me Wall Street, by FAR, is the worst of the lot.

McFearless said...

Manny,

one can only draw my conclusion imo. the top 1% have nearly all of the assets, they don't all work on wall street, wall street is an easy target right now, people would do well to widen their lense a little bit, that's what I'm saying.

No kidding wall st. is dirty, but why do I pay $28 for a pack of razor blades....

Mannwich said...

@ben: As bad as they are, the other industries didn't almost take down the world as we know it. Wall Street's actions have been FAR more significant and negative, with maybe the exception of the recent BP spill.

CV said...

@Manny

"Why do we get phone boom and bust all the time now? Who makes out in that scenario? Not the average Wall Street customer. The big dogs, maybe, but not any of us. The whole thing is a sham. I'll keep saying it until I see proof otherwise."

That's why we elect great leaders like OWEBama...

Because he'll pay our gas and mortgage...

Mannwich said...

Fair point, ben. I'm no fan of any big corporations, for that reason, but most of them don't have run the financial system and have the ability to take us all down with their extortionary tactics.

mcHAPPY said...

Back.... dammit did not have the same effect. Albeit 15 minutes versus a couple of hours... .anyways.

I'm seeing a very nice ABC correction. As I said earlier, C=A still at 1106. Five waves up - bring it.

Mannwich said...

@cv: He's not paying MY gas or mortgage.

Leftback said...

Ts are staying strong. I think Mr Market goes lower.

CV said...

"why do I pay $28 for a pack of razor blades..."

So that Gillette can pay the contracts of Derek Jeter, Tiger Woods, & Roger Federer...

Mannwich said...

How do we know it's a certainty there will be another probably FAR worse financial crisis? Because the system incents them to do it. There are no repercussions for them and they'll just threaten to "bring us all down" with them if we don't bail them out. In the meantime, they get to reap the benefits of that moral hazard and take all the outsized risks they want. Just a matter of time. Now how is that not FAR more significant and pervasive in terms of "rigged" than any other industry? It's not even close either. A $28 razor can't bring the world down but it may piss me off a little.

McFearless said...

Manny,

do you realize, for example, how big a player the energy companies are in the derivative space?

Mannwich said...

I do, ben. Energy industry is almost as bad, maybe about the same. Gillette not so much.

karen said...

check this interactive COT chart!

http://www.ashraflaidi.com/charts/speculators-futures-fx-positions.asp

McFearless said...

Manny,

Wait a minute...what "sytem" is it that creates incentives that lead to crisis? Is this the same system that led to the depressions in the 1800's, or the South Seas Bubble, or the economic collapse of Rome? Greed is not "our system" it's human nature.

If all of wall street goes away, the world isn't "going down". No, the world will still exist, we will rebuild.

there is this idea it seems to me that Americans think the DOW will last forever and ever for eternity....it won't.

but, if you really feel that way, all I could say is not to support any candidate that believes in a central bank, otherwise you are just asking for more of the same.

McFearless said...

"Gillette not so much"

lol, I need to get you in touch with my (yes a PhD) buddy the develops Old Spice Body Wash for P&G so he can explain to you...how the business works.

CV said...

@LB

Market goes down long enough to fill the gaps (from yesterday) in the BAC, JPM, & C candles...

or - they find a new pony to whip into the close...

ABK anyone?

CV said...

@McF

Have you ever seen the move "Duplicity"?

McFearless said...

and don't get me wrong man, I know how nasty Wall St. is, I'm not trying to deny that, it makes me sick, but people just have to understand that part of the deal when you trade or "invest" is that you are going against players...with a lot of money to push around, so the odds are stacked against you from the start...it's just the way it is.

McFearless said...

nah, never saw it CV.

Mannwich said...

@ben: I certainly don't believe the world would "go down" but it WOULD be different and dire if we did let the scoundrels who got us here go down. However, the game IS RIGGED so that they never have to feel the consequences of their actions. Political leaders all over the world have shown they will bail these folks out no matter the consequences to everyone else. How is it rigged? In every single way, more than any other industry and far more pervasive since the financial industry (because they control the money) is, by far, the most powerful industry in the world. Energy up there but how can you dispute that?

McFearless said...

here ya go, from 1994 no less, and no, they hardly are doing less:

http://www.nytimes.com/1994/04/14/business/worldbusiness/14iht-procter.html

Leftback said...

"part of the deal when you trade or "invest" is that you are going against players"

Correct. Only the strong and very observant shall survive....

Mannwich said...

I understand that now, ben, which is why I'm mostly in cash and treasuries these days. When I do decide to gamble in their casino a bit, I keep it small now, for that reason.

CV said...

@McF

You'd like it... "Duplicity"... It's clever

Leftback said...

C -

Whose turn is it to report BTE after hours and before the open?

karen said...

anyone want to guess what the p&f on the $spx is? for fun?

McFearless said...

Manny,

I always trade small man, keeps you from blowing yourself up. I'm so tired of people coming in my office and using the Hold-em phrase:

all-in

ughhhh....we don't go "all-in"

also, regarding the above:

" dire if we did let the scoundrels who got us here go down"

dire? for whom? a few elites perhaps, and sure, the row would struggle, but in the end this would in fact give regular people a chance. These scoundrels have effectively destroyed the middle class. If people had to save for a few years to buy a car or washing machine there is nothing wrong with that. Just because it's not something our generation is used to doesn't mean it's "bad"

I don't want to put words in your mouth, but are you saying the masses should suffer no short term discomfort, even massive discomfort on their way to freedom from this nonsense?

further, the financial industry's true power will be revealed in all its fullness on the reckoning day for fiat currency. I don't need to dispute what you are saying, when this day comes, you'll see just how little power these paper pushers truly have.

Is that a long time off? I don't know, but I think we'd both agree it's far closer than it's ever been during our lifetimes.

McFearless said...

karen

re: spx

1165?

CV said...

@Lefty

Nobody important today...

Tomorrow there's...

GOOGLE

CV said...

Friday, there's

C, GE, BAC

Leftback said...

GOOG could be WTE, seriously.

Leftback said...

LB is not trading against the MASTER MANIPULATORS of GE.

C and BAC is effing Earnings Fantasyland.

McFearless said...

C,

I'll have to check that movie out, sort of remembering hearing about it but I know I didn't see it.

I did finally get around to watching Shutter Island...lame, so obvious what was going on early in that movie. Other than that I've only seen two other movies lately, Book of Eli and Distric 9....just ok.

lots of end of the world type movies to pick from that's for sure.

CV said...

@lefty

Maybe (GOOG)... But if they somehow manage to spin the Apple recalls to their advantage... who knows?

McFearless said...

Yeah, what about GE, come on, we have to put them at least on the level of a BAC right?

AmenRa said...

I guess the volume must have dried up {snark}.

McFearless said...

in terms of being dirty I mean....GE, that's no ethical outfit.

karen said...

ben, 900

CV said...

@LB

CV literally "called" a $4.31 price target for July opex on C way back in early May... (saying to buy at $3.50)...

It hit $4.33 yesterday...

Maybe it blew its load too fast...

McFearless said...

I went to look P&F bearish objective on SPX is 900.

Leftback said...

880... LB's magnet zone.

CV said...

But did CV buy at $3.50?


NOOOOOOOOOOOOOOOOOOOOOOO!

Mannwich said...

Agreed, ben. I learned that lesson the hard way, which is often how one learns lessons, isn't it? ;-)

CV said...

What did I tell you ladies & gents (3:15)...?

ABK bitchez!

karen said...

$vix and vxx have reversed roles today.. vxx up over 4% $vix up 1.06%

McFearless said...

manny,

ewi made me feel better about it because I've done it to (blown up by trading too big), they say to consider it your tuition,... it's not cheap.

Leftback said...

Read this LLOYD and Republicans. No recovery for some.

Millions Lose Benefits

The Recoveryless Recovery,
as the Lovely Lady of San Clemente would say.

McFearless said...

chopfest today...

CV, I know a guy that is sitting on a lot of C with a very low basis right now, tells me he'll "never sell"

Leftback said...

K,

There is increasing option activity in October- mainly puts.
Shades of '08?

Leftback said...

McF

He'll sell AT THE BOTTOM™.

McFearless said...

anyone watching GLD today, you see the move early afternoon, that's a strange looking chart today.

I guess I'll go find out which of the gnomes did that over at ZH.

Mannwich said...

@ben: That's a good way to look at it! It bothered me for a while and probably longer than it should have, but I'm past it at this point. Like you said, my "tuition".

Leftback said...

McF:

PRINCE ALL-WALLY is a friend of yours ???

McFearless said...

"He'll sell AT THE BOTTOM™"

lol, and to Prince Ally Wally of course!

BinT said...

Well, my IT girl got me a new temporary computer this afternoon...the latest Trojan for our Windows XP here in the office was not possible to clean from the desk...couldn't download the July fix from Microsoft...interesting little bug.

McFearless said...

we ride horses together...with matching outfits and sweet sunglasses.

Mannwich said...

Boy, ZSL has been just a dog for a long time.

McFearless said...

yep, the short silver trade is dead...stick a fork in it. Even this time around DSI got up into the 90's and the last three times that happened we got a very rapid 20% sell-off....not this time.

McFearless said...

that's easily the worst trade I've done over the last 3 years, I had to close those down for losses. (ZSL)

CV said...

I'd love to get long silver AFTER the deflation...

Couple more years, I think...

Leftback said...

LOL.

Jewel does karaoke in disguise:

http://new.music.yahoo.com/blogs/stopthepresses/227357/jewel-goes-undercover-at-la-karaoke-bar/

McFearless said...

10 minutes to close and INTC isn't even up 1.5% on the day.....best quarter ever.

CV said...

Probably just buy someones old coin collection (to go with what I just found in the basement)...

CV said...

INTC isn't even up 1.5% on the day.....best quarter ever...

Partying like it's 1999

McFearless said...

CV,

3:48

x2....and why short the metals...plenty of other things out there to be bearish on.

McFearless said...

then called jewel.....KAREN

CV said...

@LB

Maybe GOOGLE will put in a HUGE quarter from the "cost savings" it achieved by reducing the BLOGGER staff and infrastructure down to one monkey & two bananas...

bob said...

The reaction of INTC's competitors is much more interesting, AMD (-1.20%) and NVDA (+.8). Look at those charts over the past few months.

McFearless said...

that video was great.

Leftback said...

GOOG is past its sell-by date at this point and the chart looks awful.

Watch out for the macro data.
GDP out of China and Empire State/Philly Fed.

McFearless said...

eventually MEH is going to bring google down and everyone will use Clusty to search.

McFearless said...

alright, I gotta go to meetings....might be back later but it's a late night.

later team

karen said...

our typical close.. in our typical recovery.. what else is new?

hey, loved that jewel video!! can't believe those folks didn't catch on, tho, laughing.

Mannwich said...

Must...goo...green.

CV said...

@Lefty

True (GOOG)... But CV kind of has this notion that since GOOG was one of the first to go DARK CROSSING (back in the end of May)...

It may just be on a last gasp mission to right that ship before giving up on the party...

CV said...

@Lefty

Basically...

GOOG = EURUSD at the moment

no "correlation" intended there... Only a simple "technical perspective" towards the ultimate outcome and where it stands to date in that process...

Leftback said...

"...can't believe those folks didn't catch on, tho, laughing."

You are a great singer, Karen!
Can't imagine LB doing karaoke... LOL.

Did you keep your shorts on for the overnight..?

Leftback said...

BUCKY is stirring.

72bat said...

no cv did not buy c in may at 3.50 nor did 72bat, cos' in may c never broke below 3.63. close but no cigar.

CV said...

@72bat

3.53... But I'm sure you made a typo...

Leftback said...

Guys

TV coverage starts early tomorrow for the Open.
Brilliant! St Andrews is amazing.

LB once drank beer very late at night by the 17th green.
Sat on the wall just a few yards away from the pin.

Atmospheric. You could almost see ghosts putting....

CV said...

@LB

Didn't Tom Watson once play a ricochet shot off that wall about where you were sitting drinking your beer?

CV said...

CV will take Justin Rose (15-1) to win The Open...

karen said...

was going to take a Q from I and quit drinking but decided today was not the day..

lb, we all know you do karaoke! not me, tho, have only been in one karaoke bar in my life, don't you know.

my sons visited St Andrews two summers ago, i think.. they were mesmerized even in daytime.. my older son's friend attends.. a dane, coincidentally, lb.. hope to see him at the end of august.

72bat said...

cv -
yup, ur right. my 3.63/3.53 is ur 10xx/11xx fat finger thingie
3.53/3.50 so close, dang!

CV said...

Be back later all... (the foto of Amen Ra's corner this week is that wall that LB is referring to on the 17th at St. Andrews)...

BYE!

CV

CV said...

...and most likely the guy trying to hack his ball out of the ROAD HOLE bunker there (to save his snowman)...

Is LB :-)

Leftback said...

CV

No wonder I needed that beer.... Duval took four hacks there once.

BOND REPORT: RISK-OFF baby.

TLT 1.00% LQD 0.44% AGG 0.34% JNK -0.41%

Mannwich said...

Credit binge buying back? Imports surge.

http://www.calculatedriskblog.com/2010/07/la-port-traffic-imports-surge-exports.html

Mannwich said...

Speaking of QE2.

http://www.zerohedge.com/article/jim-grant-confident-qe-20-just-around-corner

Helicopter Ben said...

QE2? FUHGEDDABOUDIT.

Helicopter is out of commission for the rest of the year.

Anonymous said...

Asking questions are genuinely good thing if you are not understanding anything fully,
however this article provides fastidious understanding yet.
Here is my website ; Alyssa Melody

Anonymous said...

Hello there, just became alert to your blog through Google, and found that it is really
informative. I'm going to watch out for brussels. I'll be grateful if you continue this in future.
Lots of people will be benefited from your writing. Cheers!
Here is my weblog - kids fishing shirts

Anonymous said...

Hello there! This blog post could not be written any better!
Going through this post reminds me of my previous roommate!
He continually kept preaching about this.
I'll forward this article to him. Pretty sure he will have a good read. I appreciate you for sharing!
My web-site ... vertnet.ca

Anonymous said...

Hello! I know this is kinda off topic but I'd figured I'd ask.
Would you be interested in trading links or maybe guest writing a blog post or vice-versa?
My site discusses a lot of the same topics as yours and I feel we could greatly benefit from each other.
If you are interested feel free to send me an email. I
look forward to hearing from you! Terrific
blog by the way!
Have a look at my blog post ; Office Furniture Toronto

Anonymous said...

I every time spent my half an hour to read this blog's articles or reviews all the time along with a cup of coffee.
Here is my website glowballoonsusa.Com

Anonymous said...

When I originally commented I clicked the "Notify me when new comments are added" checkbox and now each time a comment is added I get four emails with the same comment.
Is there any way you can remove people from that service? Appreciate
it!
Look at my blog post ; www.assiplaza.net

Anonymous said...

of course like your web site however you need to
test the spelling on quite a few of your posts.
Many of them are rife with spelling issues and I in
finding it very troublesome to tell the truth however I'll certainly come again again.
Feel free to visit my website Wholesaler of Fashion Apparels

Anonymous said...

We absolutely love your blog and find almost all of your post's to be just what I'm looking for.
Would you offer guest writers to write content for you?

I wouldn't mind creating a post or elaborating on a number of the subjects you write about here. Again, awesome website!
Feel free to visit my web blog ; LLC. :: Poptops :: Smoky Cabochon 40% OFF!

Anonymous said...

This website definitely has all of the info I wanted about this subject and didn't know who to ask.
Take a look at my website :: San Diego Weddings

Anonymous said...

I'm not sure where you are getting your info, but good topic. I needs to spend some time learning much more or understanding more. Thanks for wonderful info I was looking for this info for my mission.
Also visit my web blog :: www.voicewinds.com

Anonymous said...

This information is priceless. Where can I find out more?
Feel free to visit my weblog :: bagged cotton candy

Anonymous said...

No matter if some one searches for his vital thing, therefore he/she wants to be available
that in detail, so that thing is maintained over here.
Here is my blog : http://3dwise.co.uk/

Anonymous said...

I have fun with, result in I discovered just what I was taking a
look for. You've ended my four day long hunt! God Bless you man. Have a nice day. Bye
Feel free to visit my website :: lacustomfinish.com

«Oldest ‹Older   201 – 386 of 386   Newer› Newest»

Post a Comment

Disclosure/Warning

This blog should not be interpreted as investment advice of any kind. The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind. The authors may or may not trade in the markets discussed. The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.