Morning Audibles


This is QE2 & POMO... This is catfood... Any questions?


This is your dinner...



 The last of the "good life"...


Breakfast at Tiffany's...


If you "start 'em young", it just may grow on 'em (like Dancing With the Stars)...


Oh no... This isn't for you... This is reserved for Wall St. Bankers & politicians...


Line forms to the left... Bankers & politicians to the right...


We've appointed a new "czar" to handle the food labeling issues...
There's no crying in CATFOOD LAND!


See? Peggy Joseph isn't crying... "Obama will pay my gas... mortgage... & catfood"...


For the snooty, left wing upper class types, we have special gourmet "Farmers Markets" for you...


Next... We'll be moving into personal hygeine...
On Thanksgiving... We give thanks & praise for our bounty...




179 comments:

call me ahab said...

from KD's- to follow up on CV's observation:

http://www.youtube.com/watch?v=XK4dxacv7jY&feature=player_embedded#!

ben22 said...

http://dealbreaker.com/2010/11/sir-allen-stanford-beaten-to-point-of-losing-feeling-on-right-side-of-face-for-a-second-time/#more-30773

guess he's not enjoying the new bull market so much

CV said...

@ben22 (7:54)

BITCHEZ... bitchez!

Jennifer said...

No one in my family better see this morning's audibles or I'll be getting grief about my failure to form Thanksgiving butter into messages giving thanks. Way to set the bar high!

call me ahab said...

headline-

"What's Next for China After Saving the World?"- NYT

The giant fiscal stimulus and bank lending spree that China started two years ago saved the world from recession. What can Beijing do for a follow-up act?

Interesting hyperbole coming from the leading intelligentsia rag -

and as they ask- I too can't wait to see what the follow up is.

karen said...

Wildest post ever!! I don't know how you did it, laughing..

But I am not laughing about the turnaround in futures.. I just don't get any of it.. except gold.

CV said...

@karen

The hits just keep coming... :-)

Courtesy of the Federal Reserve...

karen said...

My other Andy!

http://www.ritholtz.com/blog/2010/11/to-hell-through-qe/

call me ahab said...

"Famed strategist Douglas Kass said Monday the market has topped-

[Kass is] unconvinced the Federal Reserve will be successful in lifting the US economy by injecting an extra $600 billion into its banking system."


the LOL line from Kass-

"To me, there's an artificiality of the program,"

wow- ya think?

McFearless said...

China saved the world? Thought it was the Fed, so many saviors to keep track of in this day and age, not sure how one finds the time in between tv shows/work/eating, etc. I bet it was a lot easier 2,000 years ago when there was only one Jesus Christ (and no iThings).

McFearless said...

one thing you can say for certain, there has indeed been a P3, no doubt at all in fact, you just have to price the S&P in Gold, then it's crystal clear, of course, who needs gold when you could have paper.

Papermember

The next Austin Powers movie, expected release is 2012.

call me ahab said...

b22-

whenever I see your recent avatar I think of this:

http://www.totalmortalkombat.com/mkvsdcu/mkvsdcu_wp_18.jpg

McFearless said...

worst case scenario for bears, we go another 100 days or so with no pullback...

CV said...

@ahab (9:09)

It appears that Kass had a sampling of the catfood (and didn't like it)...

Didn't anyone tell him?... It goes down smoother with some Manischewitz wine...

McFearless said...

ahab,

maybe I'll start yelling shazam when I make a decent trade.

McFearless said...

CV,

My cat only eats people food. What does this mean?

CV said...

@McF (9:12)

"I bet it was a lot easier 2,000 years ago when there was only one Jesus Christ"...

Oh contraire, mon frere...

"Christians" were CATFOOD to the Lions (for the Romans) for a coupla hundo of years...

AmenRa said...

Futures are barely $2 above fair value. Doesn't look that bullish to me. Slight pop and then the down move continues.

McFearless said...

CV,

Well aware of that fact, but as you point out, they were put to death, today all are left to suffer the Fed, they are "kept alive" via SNAP, etc.

so what's worse?

Jennifer said...

Why wasn't I long Atlas? And why did I sell calls against my nat gas companies?

CV said...

@Amen (9:22)

Agreed!

karen said...

Good Real Money Buying In USD/CAD
By Jamie Coleman || November 9, 2010 at 14:23 GMT

Traders report solid interest to buy USD/CAD from real money accounts was just seen in the market, nudging the greenback briefly to parity with the Loonie. Traders also report good interest from a Swiss bank to sell short-dated USD/CAD puts ( a bullish bet) struck at 0.99.

Jennifer said...

Ben, seriously, you had a post the other day about looking to do buy-writes. IMO, they just bring out the worst in human psychology. Stock goes up, you miss out on all that profit. Stock goes down, you can't bail unless you buy back the (cheaper at least) call. Only good outcome is where stock goes nowhere, which frankly, doesn't seem to happen much these days. Maybe sell cash secured puts? At least you can pick a strike price where you'd be comfortable buying the stock.

call me ahab said...

b22/shazam-

from what I remember from my world religion course in college- there were many folks running around 2000 years ago claiming to be the messiah of the Jews (and promising to bring back the Kingdom of David)-

CV- regarding BB and cat food- as long as it's kosher I guess

18 said...

AmenRa said...
Futures are barely $2 above fair value. Doesn't look that bullish to me. Slight pop and then the down move continues


As I said last Friday, 1224 basically a stop, probably slight downturn here but 1242 still within my trading range for this month. Anything below 1206 is a buy, if we go that far... this time.

Jennifer said...

OTOH, coverd calls to force turnover. If you want turnover, they're great. My dad is anti-turnover at any price. So...I like it for him. it forces some profit taking, even if not at the best price.

Jennifer said...

that "to" was supposed to be a "do."

CV said...

@Amen (9:22)

Do you like apples?

new chart in thread

call me ahab said...

I like the sound of SNAP- jut sounds friendly-

what could be wrong with SNAP?

now food stamps- that just sounds like a government program

Jennifer said...

Anyone see that zerohedge blurb yesterday on HSKAX? If so, any thoughts on its predictive value? I'll try to scrounge up a link.

Jennifer said...

Ever been in line at the grocery store behind someone using SNAP? it isn't snappy, that's for sure.

karen said...

EUR/USD Bouncing From Retracement
By Jamie Coleman || November 9, 2010 at 14:30 GMT

EUR/USD has bounced from the 38.2% retracement of this morning’s rally (1.3916ish). A break of 1.3975/80 is needed to give the rally new life and get the new-found EUR bears (like me) nervous.
Gold id holding the majority of its gains and US equities look to be getting off to a positive start.
EUR/USD trades now at 1.3940.

Jennifer said...

Did someone already post here yesterday that GLD needs some obscene amount of gold (like 200 tons?) to bring its holdings up to reflect current prices? Think that's true? What's that going to do to prices?

call me ahab said...

Jennifer-

are you sure it wasn't WIC- now that's a show- but SNAP I think it just like a credit card

karen said...

"The world is heading towards high inflation and political instability. It’s only a matter of time before there is another global crisis. The first sign would be a collapsing treasury market. The Fed is controlling the yield curve through its QE program. But, it is irrational for other investors to play this game. The only reason to stay in is that the Fed won’t let the market fall. But, the underlying value is evaporating with rising money supply and the inflationary consequences. When all the investors realize this, they will run for the exits and the Fed won’t be able to stop the stampede. If it prints enough money to take over the whole market, the people with freshly minted dollars would surely want to convert their money into other assets. The dollar would collapse too.

The world seems on course for another crisis in 2012. The same people who caused the last crisis are still in charge. They’ll get us into another. Iceland is sending its former prime minister to court for causing the banking crisis. A worse fate awaits the people who are causing the next crisis." Xie

AmenRa said...

Hell at this rate Gold may hit 1500 before the year is out.

Jennifer said...

Ahab -- you're probably right, I think it was WIC. And it was SLOW.

McFearless said...

Jennifer,

valid point on a buy write, however, if I'm expecting some sort of wave 4, if it's not a zig zag sideways was the most likely candidate, I thought maybe I could put that trade on in a few individuals for November, I've often used this strategy is wave 4's that were likely to correct sideways if wave 2 was a zig zag, as of now I have 0 positions, and maybe even less clarity, so I'll do nothing this month is the way it's looking right now, I have a little gold thanks to gold money, so at least i got that going for me, I'm probably buying near the near term top, lol.

ahab,

sure, but I guess what I'm saying is one of our present saviors needs to clear it up already, JC said many would come in his name, see he warned about the others.....but made clear he was the real deal. Even before that those dummies were out in the desert worshipping that golden calf, then Moses showed them what was up.

So, my point is, I need the Fed or China, or David Tepper to come out and make their claim already. It's one of the three I think, or Maitreyu.

McFearless said...

Richard Russell likes 1500 on gold and follows it up with "there is no resistance above that"

big time gold bull RR is

AmenRa said...

Karen

I read that Andy Xie article. Nice.

AmenRa said...

Ben

There is no resistance now...

McFearless said...

Ra,

yeah, I sort of laughed yesterday when I read that comment from him, of course there is no resistance, it's never been here before. So yeah, to infinity!

I'm still trying to find golds intrinsic value.

call me ahab said...

what's stopping money from QE2 rushing into China and India and Brazil or any other market?

point is- who says they want it inflating there assets-

I know China has capital controls- but not sure how that keeps all the "hot" QE money out

AmenRa said...

ABK -55.96% at open. Trading stopped.

AmenRa said...

ahab

China will find a way if it has to.

72bat said...

k -
andy xie - "The same people who caused the last crisis are still in charge. They’ll get us into another. Iceland is sending its former prime minister to court for causing the banking crisis. A worse fate awaits the people who are causing the next crisis."
as karl d would say, send them to jail before they cause the next crisis.

Matthew said...

@ben:

The problem (I think) with overwriting your positions, right now, is that the low vol is killing the premiums.

I just had a position called away last night and I'm trying to figure out what the hell I should do with the money. Nothing looks attractive and I am stabbing my leg with a pen to keep from just re-entering the position and overwriting it again.

What a world.

call me ahab said...

A worse fate awaits the people who are causing the next crisis

call me a dreamer- but I'd like to see BB in leg irons-

mobs of angry citizens torching K street and the Capitol- politicians running with their rolling luggage stuffed with cash trying to get the last flight out of Reagan National- fearing for their lives-

pretty sad if its just folks meekly walking to the hammer in the stock yards





too much delegated power into the Fed's hands

McFearless said...

Matthew,

yes indeed, I keep looking every day but I just can't find a place to enter to do that strategy but I'm sitting on an ass-load of cash right now and don't want to be. I'm pretty confident in the count Neely is running with, I may just stay out until it's over, which might be a few more months, until I get heavy with options. In the meantime I'll trade some bond ETF's here and there.

I could just play some individual stocks but I'm not much for looking for 10% returns in the trading account.

call me ahab said...

Ra @ 9:48-

elaborate- to keep the money out?

Matthew said...

BTW, have you seen the agriculture futures lately? This is truly an idiot's market. I have had DBA and RJA in my portfolio as some QE2 punts. I didn't do any analysis or anything--these are veritable gambles that moved up in a straight line like everything else.

This is what is meant when reasonable people say that easy money causes malinvestment.

McFearless said...

any of you have a wood burning fireplace?

how much do you pay for a cord of wood?

McFearless said...

I'd dare say nothing threatens the Fed more than gold, no matter how much talky talky they do, gold can still call them out. Gold is bigger than the Fed. The Fed has painted themselves into a corner, now the walls are closing in.

Bernanke likes to rap about the Fed's credibility, but to anyone paying attention that doesn't have to go on tv and lie in order to promote their own business, it's clear they are losing it.

call me ahab said...

b22-

2 wood burning fireplaces-

haven't used them in years though

CV said...

@McF (10:00)

I have 3... fireplaces...

One burns regular wood... One is a pellet stove... One runs on natty...

What are you interested in?

72bat said...

ben -
$100 - $150 a cord according to craigslist/dayton

McFearless said...

I have a wood burning, I want to start getting my wood together for the winter, just wondering what people normally pay for a cord. I used to have a guy come by the house and drop it off for me but I'm not sure if he's doing that anymore, he used to give me fair prices and would stack it all for me in the backyard which was really nice, now I have to go get it myself and maybe bargain a little bit. I use the fireplace constantly in the winter.

McFearless said...

72,

thanks, that's about what I thought, there's a place close to my house showing $115 for a cord. I used to pay $110 for the delivery, which seems cheap considering I did 0 and it was always nice dry wood.

call me ahab said...

and here's a general question-

what if the Fed never said a thing about QE2 and never announced QE2-

??????

and it's interesting- BB (at least in public) discounts any worries arising from commodity spikes- saying there is too much slack for manufacturer's to pass it on to consumers-

so he acknowledges it- but waves it off as an insignificant concern (I guess because of all those Fed tools he has at his disposal to handle any eventuality)

karen said...

Ben, I don't think the Fed cares about gold at all.. so what if it goes to $6k an ounce.. Platinum is nearly $1800 now (down from 2200 in 07-08) and Rhodium ran to $10k in 2008 : )

I've decided they don't care where the hot money goes..

karen said...

hey, great idea getting wood off CraigsList and having it delivered!! i just bot some bundles at Lowe's for 4.95 each.. dumb, i know, but it was clean and dry and I wanted to stack it inside my dining room fireplace as a holding area.. of my 3 fireplaces, only one draws well.

AmenRa said...

ahab

from Andy Xie:
China cannot move up its currency value too much or it would trigger hot money outflow, collapsing its property market and the banking system along with it. China is between a rock and a hard place. It is trying to achieve a soft landing of its property market by incremental tightening steps while the currency appreciation expectation keeps the hot money from leaving. This combination may support a multiyear gradual adjustment, giving the banking system time to raise capital.

------
So too much money coming in would send the RMB higher. Which is what they don't want if they're trying for a gradual appreciation. Taxing foreign fund at a higher rate is an option but China will probably just say no to the funds and force them elsewhere.

CV said...

@ben

As far as wood burning is concerned...

You have to consider as much the price of delivery vs. the price of the cord...

IOW... If you find a better price, but they're farther away, you might end up paying more for transport...

CV just collects deadwood from the woods and chops it himself...

Benefits of WVA... :-)

CV said...

@karen

I'm thinking that if you prefer the "clean hands" solution...

You ought just to buy a pellett stove...

karen said...

TBT bounces back.. trend still very much up.. or at least treading water.

72bat said...

cv sez alcohol bitchez!
zerohedge:
The old faithful GDP boosting trick of accumulating inventories continues to work. The Census Bureau announced that September wholesale inventories jumped by 1.5%, matching the largest monthly increase in over two years, and coming in decisively over estimates of 0.7%. Furthermore, the prior number was also revised much higher from 0.8% to 1.2%, confirming what we already knew: namely that Q3 GDP is merely based on yet another stocking, which will soon need to be liquidated as end demand persists at being subdued, further impacting FIFO margins (as for LIFO, forgetaboutit). The biggest jump in inventories was in farm products (14.8%) and misc. durable goods (3.0%), while destocking was seen in lumber, prof and comp equipment, and... alcohol.

McFearless said...

No doubt CV, all things considered I think I was getting a major deal from this guy now that I think about it, maybe I'll get lucky and he stops by this weekend. I don't have a truck, so the transportation is a bit of an issue. I need a good beater to drive around.

I wouldn't mind chopping the wood myself, that would be fun, but I don't live near any woods, not much of that in northern DE.

I can't remember his name now but I watched all those videos that you linked up a week or so ago about the guy that moved himself out to the woods, they were awesome.

72bat said...

cv -
surely you have a small plot that could be devoted to coppicing trees to produce firewood?

McFearless said...

hmmm, misc durable goods eh?

new tax credit coming?

call me ahab said...

thanks Ra

all have a good day

CV said...

@72bat (10:26)

The output isn't high enough...

You'd need roughly a quarter acre of wooded to sparsely serve the need for one low square foot household...

It'd make for better potash than anything else...

McFearless said...

the silver chart is awesome.....lol, wow.

CV said...

@McF (10:25)

Yup... that's the thing...

You'd need a decent TRUCK too (&/or a trailer implement to haul...

I've discussed MANY TIMES before on this blog how people just don't realize how poorly prepared they are, infrastructure wise, to be self sufficient in that manner...

& just when you think you have it all solved...

- ere will no longer be any gasoline, and you'll figure out you need a horse...

- & when you have that, you'll realize that you don't have any lands for the horse to graze on...

- or space to grow oats, or water

AMERICA - Land of the free fools

72bat said...

cv -
my 10:23 was intended to support your point of stocking up on alcohol.

CV said...

@72

alcohol is a "currency" (or will be)...

Airplane bottles bitchez!

McFearless said...

someone posted this at Dan's, read it, and laugh like I did considering the emotional reaction today to similar announcements:

"Another important trigger in the market crash of 1987 was the announcement of a large U.S. trade deficit on October 14, which led Treasury Secretary James Baker to suggest the need for a fall in the dollar on foreign exchange markets. Fears of a lower dollar led foreigners to pull out of dollar-denominated assets, causing a sharp rise in interest rates."

CV said...

@72

I don't worry about it anymore...

That's why I started a vineyard (and grow hops) & potatoes on the farm...

- wine
- beer
- moonshine

McFearless said...

CV,

I remain extremely cautious on the metals despite all the certainty that they can only go up. There isn't just total conviction in the Fed. Missed a big trade though as a result.

AmenRa said...

Dagong (China) downgrades US from AA to A+
http://tinyurl.com/3yz6ju8

zerohedge article

CV said...

Funny thing is...

Despite what I'm saying... I think this is still in the "knee jerk" phase...

IOW - as soon as some of the stuff that we're talking about here goes viral and makes its way to 60 Minutes or something, there's going to be backlash...

America doesn't want to hear about grandma eating catfood...

So between now and the NEW CONGRESS coming in, there will be some kind of retaliation against the Fed... Probably just jawboning, but enough to cool everyones jets for awhile...

The markets will, then, swing the other way... Once again it'll all appear to be HYPE... And, of course, then when jobs start getting lost again (because of the austerity)... We'll swing back to where we are now... and beyond...

In chart terms... Expect a big MEGAPHONE pattern to start drawing itself... (in commodities)

CV said...

@McF (10:41)

I'm not buying metals AT ALL...

If anyone is really listening to what I'm saying... NONE of this is investable...

You just have to convert your holdings to cash and buy infrastructure...

- land
- irrigation
- low tech energy
- building materials
- tools
- implements
- food

Get it all done while you still can...

McFearless said...

XLF could be good for a $1 and some change to the upside.

CV said...

"I'm not buying metals AT ALL..."

---

I take that back... I AM converting cash & coinage to NICKELS...

It's a free 25% every transaction...

Copper price goes up... But the exchange rate to convert a $1 note to 20 nickels is constant... (no taxes either)...

SWEET!

CV said...

oops... I misspoke...

27.5%, as we speak...

http://coinflation.com/

CV said...

catfood bitchez!

http://online.wsj.com/article/SB10001424052748704506404575592313664715360.html?mod=WSJ_hp_LEFTWhatsNewsCollection

karen said...

1.3880 Next Support For EUR
By Jamie Coleman || November 9, 2010 at 15:50 GMT

That’s the 61.8% retracement of the 1.3824/1.3973 rally. 50% is at 1.3898 and was penetrated on the latest dip.
Traders report a US custody bank is buying EUR/USD on dips below 1.3900 at the moment.

karen said...

the loonie is absolutely killing me.. no wonder my little miner is struggling..

karen said...

LOL.. i take that back.. the loonie isn't holding SLW down.. it's gone from 2.51 in 2008 crash to $37.20.. i've just been holding the wrong ticker!

Matthew said...

Apple and Priceline are accounting for 90 percent of the Nasdaq's five-handle rise. I am trying to decide if I hate the Dow or Nasdaq 100 worse.

McFearless said...

I'd bet commercials would vote Nas 100, what with the giant short position they've had on of late.

karen said...

"More than a month ago, Ryan Chittum of Columbia Journalism Review noticed the epidemic of alleged gold records and urged those of us in the media to stop. The actual record was set 30 years ago, when the price of gold, in today’s dollars, hit $2,318 — or 65 percent higher than it closed on Monday.

This isn’t simply a question of math. Anyone who says gold is at a record high (or who said oil was several years ago) is getting the story wrong. Why? Because $10 today is not more valuable than $9 a few decades ago. Claiming otherwise is tantamount to saying that 10 rupees is more valuable than $9 because 10 is a bigger number than 9."

http://economix.blogs.nytimes.com/2010/11/09/the-myth-of-record-high-gold/?src=twt&twt=nytimesbusiness

CV said...

@karen

SLW aren't in the mining side... they're more a brokerage house type gig...

McFearless said...

Karen,

lol, so is the point of that article that gold is undervalued by 65%?

that's what I call JA.

Matthew said...

OMG!!!!! They're scaring everyone by saying gold is at a nominal record!!!!! OMG!!!!!!

AmenRa said...

TNX may hit 2.6% or higher before the auction. Pay up if you want folks to buy.

McFearless said...

seriously, wtf was that article?

karen said...

Ben, no, the point of the article is how the media misleads people.

"“Gold sets record high amid economic fears,” say The Associated Press and Bloomberg BusinessWeek. “Gold surges to record high,” says CNN. Gold closed Monday “at a record $1,402.80 per troy ounce,” reports the front page of today’s Wall Street Journal.

It’s a good story. Unfortunately, it’s not true, at least not in any meaningful sense."

CV said...

@karen

for Ryan Chittum...

Although he may have a valid argument "technically" (with regards to actual PRICE & EXCHANGES)... It's really a stupid association to even bother with...

All historical arguments of that nature are naturally predicated on a dollar as a reserve currency ENTERING a world of 3 decades of fiscal irresponsibility...

It's kind of like making a VALUE argument about a horse after model T's started rolling off assembly lines...

McFearless said...

oh, so the best example they could find of the media misleading people was not explaning golds nominal highs in more detail in the headlines?

Puheffinglease (new phrase)

In the last few days alone there were far more misleading headlines on

1. Last Friday's Jobs Numbers
2. Credit contraction last month
3. The QE nonsnese (see the hilarious 3 myths of QE article floating around this week)

don't even get me started on

4. Banks
5. The Fed
6. The Government

and on and on and on

McFearless said...

and certainly I agree the media misleads, just confused as to why someone gets paid to identify that there is misleading going on and they use that of all things as their example, seems pretty weak if you ask me.

AmenRa said...

Gold/EURUSD trading above its weekly 3LB reversal price of 1018.54.

SPX/Gold ratio is currently -84.6% from its high of 5.5933 (July 99).

karen said...

Rumor UK Data/Report Leaked
By Jamie Coleman || November 9, 2010 at 16:36 GMT
|| 0 comments || Add comment
There is talk in the market that UK inflation data has leaked. Since it is not due for release this week according to the calendars I’ve consulted, I’m assuming the BOE’s inflation report (due tomorrow) may have leaked, if anything.
You have to assume the report/leak is dovish given the way GBP has fallen. The UK has been dealing with stubbornly high inflation in recent months given the relative weakness of the pound.
Not sure what to make of the talk, but it is in the market…
Cable is dipping below 1.6050 as we write.

72bat said...

k -
do NOT remind me again of slw, which bot @ 2.65 in 11/08, got liquidated @ $3.65 in 12/08 when ira was moved to mish. gaaaah.

cv - ur right. slw buys life-of-mine silver streams off gold producers for an upfront sum.

karen said...

the effers! Nov. 9 (Bloomberg) -- Goldman Sachs Group Inc. and Natixis SA settled a London lawsuit over terminated credit-default swaps that might have been worth as much as $530 million after a delay in the trial that was to begin today.

“Goldman Sachs and Natixis are pleased they’ve reached a commercial settlement,” Goldman’s lawyer, Anthony Grabiner, said in court. The terms are confidential and Grabiner said neither side would make any further public statements on the agreement.

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=akL8Kkso5nOU

karen said...

http://www.zerohedge.com/article/art-cashin-fraudclosure-reminds-everyone-things-could-turn-very-ugly

karen said...

http://www.housingwire.com/2010/11/09/finra-fines-goldman-for-employees-failing-to-disclose-sec-investigations

Tuesday, November 9th, 2010, 10:54 am
Tacking on to the $550 million fine levied by the Securities and Exchange Commission on Wall Street investment bank Goldman Sachs, the Financial Industry Regulatory Authority is adding its own penalty of $650,000.

The fines revolve around a single structured-finance product, a synthetic collateralized debt obligation called ABACUS 2007-ACI.

More specifically, the FINRA fine stems from Goldman failing to disclose that two employees, including Abacus broker Fabrice Tourre, received formal notices from the SEC that they were under investigation.

karen said...

Hate to bring up a bad subject but the GM IPO comes to market next week.. no way we topple before then.

karen said...

The US has lived on borrowed money for too long...
http://www.spiegel.de/international/world/0,1518,727801,00.html

karen said...

http://www.reuters.com/article/idUSTRE6A83AJ20101109

"Goldman Sachs Group Inc's mortgage servicing unit has suspended evictions and foreclosures in some states, according to a regulatory filing on Tuesday."

AmenRa said...

Karen

I thought it was funny what the attorney said to Cashin "banks ANNOUNCED they were resuming foreclosure but really aren't". It was to keep more people from defaulting on purpose if they thought the banks were still suspending foreclosures.

karen said...

AR, yes, I was hoping someone besides me read that !!

AmenRa said...

SPIEGEL: Last week, the US Federal Reserve Bank decided to flood the economy with $600 billion in new money. Will this stimulate the economy as hoped?

Schäuble: I seriously doubt that it makes sense to pump unlimited amounts of money into the markets. There is no lack of liquidity in the US economy, which is why I don't recognize the economic argument behind this measure.

SPIEGEL: The US wants to depress the value of the dollar in this way, so that it can sell its products abroad more easily. In light of the ailing US economy, isn't that a completely reasonable strategy?

Schäuble: No. The Fed's decisions bring more uncertainty to the global economy. They make it more difficult to achieve a reasonable balance between industrialized and emerging economies, and they undermine the US's credibility when it comes to fiscal policy. It's inconsistent for the Americans to accuse the Chinese of manipulating exchange rates and then to artificially depress the dollar exchange rate by printing money.

AmenRa said...

BKX -0.82%
KRX -0.74%
XLK -0.90%
TNX +1.29%
TYX +1.01%
DXY +0.23%
EURJPY -0.45%
AUDJPY -0.24%
USDJPY -0.05%

Does any of this actually look good for the market?

AmenRa said...

Left off

Gold +1.34%
Silver +5.01%

CV said...

@Amen

If your "market" is exchanging silver coins for airplane sized bottles of whiskey...

... It looks "bullish" as hell :-)

AmenRa said...

CV

I'm thinking the move in gold and silver is really starting to scare market participants. Currencies blowing up, bonds yields blowing out, etc.

karen said...

TBT just made a sweet move up..

I-Man said...

What up team?

Just dropped by to say hi, not really up for talking markets these days, with everything gone strange, and it being winter steelhead season and all...

Better to just trade it and keep my mouth shut.

Ben, just make sure its "seasoned" wood, out here, a cord of 2 year + seasoned cut wood runs about $200.

Cant stress enough how important it is that the wood is seasoned properly. It wont burn for shit otherwise. You can keep seasoned wood outside uncovered and it doesnt matter if its wet at first, it'll still burn.

I actually prefer to keep it outside, doesnt seem to burn as fast.

Just my bored opinion as I wait for a retrace to sell.

karen said...

likewise the $tyx.. they're are sayin' "Ben, I dare ya to QE."

karen said...

Thanks for the tip, I-Man.. the wood I bot was seasoned.. I knew I liked it.. so light, too : )

karen said...

this is getting fun! (FXE at lows of day.) Dollar Extending Gains; Watch DXY
By Jamie Coleman || November 9, 2010 at 17:54 GMT

The 77.50/60 area is key resistance in the US dollar index and more short-covering is to be expected if that level breaks. We touched 77.51 earlier the day and trade now at 77.43.
The buck is well bid across the board and US yields are rising

karen said...

I wonder if the mystery missile launch is behind some of gold's launch today.. silver has a different story I suspect..

karen said...

http://www.fundmymutualfund.com/2010/11/irish-10-year-yields-blow-out-to-nearly.html

karen said...

mrtopstep

New Charts: Mr. TopStep Intra~day Charts "SPY/TLT Converge & Parabolics" http://mrtopstep.com/?p=1179

karen said...

i take it back, this isn't fun at all. sad face.

karen said...

mrtopstep

New Video: 10yr Auction Day http://mrtopstep.com/?p=1183

karen said...

Convertbond

Greenlight Capital's David Einhorn has some choice words for the Federal Reserve, calling QE2 "perverse"

DL said...
This comment has been removed by the author.
karen said...

Stop Me If You’ve Heard This One…
By Jamie Coleman || November 9, 2010 at 18:34 GMT

USD/JPY is off to the races, supported by rising US yields and the covering of USD shorts across the board.
Small stops are eyed above the 81.50 level and again above 81.60 but the 82.00 level remains the key near-term. A break above that mark will prompt many frustrated shorts to throw in the towel, to be sure.

DL said...
This comment has been removed by the author.
BinT said...

http://latimesblogs.latimes.com/lanow/2010/11/video-catches-mystery-missile-launch-off-la-coast.html

Homeland Security?

CV said...

http://www.zerohedge.com/article/mark-fisher-slams-bernanke-qe-going-end-badthis-going-be-bubble-all-bubbles

DL said...
This comment has been removed by the author.
karen said...

CV.. I'm watching him now.. "this bubble is the ultimate bubble.. it's gonna make 2000 seem like a cakewalk.."

CV said...

@BinT (1:51)

Obama has left town with 3,000 flunkies plus dozens of warships and transports...

He's left his muslim appointees in charge of Homeland Security...

Nothing to see here... Go back to your "Dancing With the Stars"...

CV said...

@DL (1:57)

I'm beginning to wonder if there's going to be a world in 2012...

Forget your dumbass elections...

CV said...

Silver & Gold dropped off a cliff at 1PM...

Those are some 5 min charts to see...

Things are getting dicey folks... This is very flash crash remnicsent...

DL said...
This comment has been removed by the author.
Mary Schapiro said...

"Flash crashes" have been banned.

karen said...

no crash.. GM IPO next week.

DL said...
This comment has been removed by the author.
CV said...

Volts for everyone... (because they're easy to push around town)...

Jesus Herman Christ... They can't even build an iPhone battery that last for more than 18 minutes... And we're supposed to wolf down this garbage?

AmenRa said...

That attempted squeeze at 14:16 (SPX 1-min chart) has been obliterated. Thank you for choosing Dante's Airways. Please come again soon.

BinT said...

CV:

I notice the Indonesians weren't particularly happy to see the O-man (Oman, yea, well we all can't be punsters like Lefty..) this time..

BinT said...

AP-

The German government announced today they would be shutting down all car production facilities for 6 weeks. Chancellor Angela Merkel explained it this way," Mr. Geithner's suggestion that countries should monitor their exports and when a country like ours gets massively out of balance compared with the United States, should voluntarily shut down production facilities for an indeterminate period of time. We find that we have shipped 6 million new BMW's to the Washington area alone in 2010, and frankly, we are temporarily out of mufflers..."

karen said...

CV, do you write this under an alias?? pls read, very short!

http://www.minyanville.com/dailyfeed/why-investing-in-a-gold/

CV said...

@karen

No no alias... But apparently a lot of people that I don't know read this blog...

The funny (sad) thing is that a good deal of you blogsters think CV is just some kind of funny little doomsdayer to get a chuckle out of every once in a while...

Sadder thing is... I'm not joking...

All I do is read blog comments every day about in what dire straits the economy is in, and that anyone who says otherwise is LYING to you...

So what have you done about it?

I suppose everyone out there just doesn't believe that "nothing really bad could ever happen here"?

Why is that?

Who, or what structure, is in place to backstop the whole thing...

The FED? The government (who hands its own very fate over to the Fed)?...

There are your ENEMIES people... Not your friends...

DL said...
This comment has been removed by the author.
CV said...

@DL

Katrina... New Orleans...

CV said...

"Oh I see a hurricane coming... But I'll just stay here & ride it out... If I'm wrong... Somebody will take care of me... I'll just sit here at my computer and trade E-Minis while the EYE passes over..."

DL said...
This comment has been removed by the author.
karen said...

dont look, AR, but i think we've got some spy and spx bearish engulfings.... naturally, the others will look similar..

CV said...

50+ days...

No market correction (since QE2 first got foothold)...

Is the market "pricing in" RISK ON TRADES...

Or is it trying as hard as it can... out of FEAR... to avoid "pricing in" catastrophe?

If things are so OK... Why not allow for a 5% correction?

No sweat, right?

CV said...

@DL (3:10)

I'm going to say this right now...

You're a fucking IMBECILE... You obviously have no clue what I'm talking about...

I'm not going to waste my time anymore...

karen said...

TheEconomist

America's jobless recovery: The 99ers http://econ.st/bCQHvP

They meant the recoveryless recovery but whatever..

DL said...
This comment has been removed by the author.
DL said...

CV,

You're worse than Ritholtz.

karen said...

interesting Calpers article:

http://www.djnewsplus.com:80/article/SB128933363975259078.html?mod=J1&a=Top+Stories&h=Calpers%3A+Latest+Year%27s+Return+13.3%25%2C+Topping+Estimate

karen said...

i'm watching that topstep video now..

$gaso chart has a rev h&s.. i hope if fails spectacularly..

karen said...

i think fxe in this low 137 area is our canary and we might get that unexpected, impossible sell-off.. ha! even vxx is green..

karen said...

"Ambac sues U.S., says IRS may ruin bankruptcy"

http://finance.yahoo.com/news/Ambac-sues-US-says-IRS-may-rb-2173314900.html?x=0&sec=topStories&pos=4&asset=&ccode=

this is some country..

karen said...

NicTrades

COMEX RAISES MARGINS ON ITS SILVER FUTURES CONTRACTS %SILVER

about effing time!

AmenRa said...

speed dial setting #1...K-A-T-H-E-R-I-N-E!!!

CV said...

Look at that SLV candle... lol

AmenRa said...

We are now below the daily 3LB mid.

I-Man said...

Anyone else catch that today was more than 3 waves down on the 5/3/1 min chart trio?

Jennifer said...

wow...just got back, and just in time it appears. Any concern that tomorrow is POMO? I'm pretty sure I was the only person getting her hair done who was also reading Elliot Wave Principles.

CV said...

@I-Man

I was checking that out... But I don't know the rules on waves in that way...

Jennifer said...

I'm glad I'm not the only one who doesnt' know what this many waves means!

AmenRa said...

Jennifer

No POMO tomorrow. The new schedule is out at 2 PM ET.

I-Man said...

Me neither...
:)

But I was Pavlov'd into thinking it would just be 3...

Jennifer said...

Thanks, AR.

CV said...

Here's the new POMO schedule...

Everytime the SPY is down 1 handle... POMO...

AmenRa said...

Back above daily 3LB mid. Damn.

Jennifer said...

That was so exciting I accidentally spilled my lunch on my (relatively) new carpet.

CV said...

@Jennifer

No lunch on flying carpets... The airlines are cutting back expenses...

AmenRa said...

CV

Airlines will start charging $10 for the washroom AND you will have to provide your own toilet paper. Then they will discard seats and have everyone stand using the overhead brace used on rollercoasters.

ben22 said...

Neely may have also nailed the gold count. We'll see.

ben22 said...

I took a small position in FXP today ($20k)

maybe I'll make a few bucks, plan to hold a couple days or three.

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