Central banks are preparing for coordinated action to provide liquidity if needed following this weekend's Greek elections, according to G-20 sources. Markets are flying. [View news story]
Thanks for allowing me to add to my short positions on the cheap. More of these bogus rumors...please.
From coordinated central bank intervention to a conference call amongst finance ministers? The rumor looks to have been downgraded as Reuters reports EU finance ministers plan to hold a conference call on Sunday evening to discuss the Greek election outcome. [View news story]
Thanks for the free cheap shorts! Added to my positions on this joke of a rumor.
Stocks are as oversold today as they were since the doom-and-gloom days of the financial crisis, says Bespoke's Paul Hickey. In total, 5 out of 10 S&P 500 sectors are now three standard deviations from their 50-day moving average. "This is as oversold as they have been at the lowest points," Hickey says. "We simply haven't gotten more oversold than this versus the 50-day." [View news story]
Or perhaps stocks were "overbought" and now correcting to proper levels?
Ireland's Sealink investment firm sues a rack of big banks (including JPM, C, BAC, RBS, CS and more) for $948.8M in damages over residential mortgage-backed securities, charging material misrepresentation and omissions in underwriting standards. [View news story]
Do any of these banks accept responsibility for their fraud?
Everyone is entitled to their own opinions but not their own facts. This guy is all opinion. In fact I would go as far to say he is a supporter of the oppressive monetary regime we live under. But then that might just be my opinion. Look forward to the other side of our monetary collapse when these jokers are broken and destitute. They have repressed good people for too long with their false ideologies. Again, probably just my opinion.
Honest money haters will never admit they are really the ones that benefit from the repression their ideologies support. Fact.
While there are still plenty of risks to an economic recovery, the start of 2012 is nothing like the 2008-2009 crisis, observes Goldman's Jim O'Neill. One third of the euro zone that’s supposedly falling apart is actually improving, and China appears close to a soft landing. "The evidence from all over the place is that it’s nothing like '08." [View news story]
Far to rich now. I have been shorting oil and long gold lately and doing much better than your silly equity pump which is very long on the tooth despite your claims of low P/Es.
My trust in the system is so eroded that I barely trade any more and actually keep cash in a safe. I am not alone. You can go twiddle with your other buddies in this anemic volume market and pretend everything is ok. IT ISN'T.
I live out in the real world where things are getting worse..not better. I hear about lay-offs every week from friends of mine across the entire spectrum of industry. Again, keep your pump going. Maybe you can dump your stuff in time for the guaranteed soon to arrive crash.
Bank of America (BAC +5.7%) led all S&P gainers today and has easily outperformed the index so far this year, and Bret Jensen expects the momentum to continue throughout 2012. He cites the housing market finally hitting bottom, a continuing drop in loan-loss provisions, and good progress in shoring up its capital levels. [View news story]
The late comers are going to pile in now and get burned. :-)
Mark My Words, These Stocks Will Double In 2012 [View article]
I want my time spent reading this article refunded. Would comment further but realize the investment in time would be a waste after reading the author's follow-up comments.
While some believe the ECB's new collateral and loan rules amount to a backdoor QE, allowing banks massive firepower to purchase sovereign debt, the banks themselves think differently. "When investors are constantly asking what you have on your books, and the board is asking you to reduce your exposure, it doesn't really matter," says the treasurer of a major EU bank. "Am I going to buy Italian bonds? No." (see also i, ii,iii) [View news story]
It isn't a solution at all. It is kicking the can temporarily. Each time the problem becomes bigger. We are near the end of this game. A painful reset is inbound and least when you expect it. Right now the market has $800 billion priced in for additional QE. When that doesn't materialize because it can't you will understand how foolish the calls for money printing are.
In addition to France, Fitch also places Belgium, Spain, Slovenia, Italy, Ireland, and Cyrus on negative watch. "Fitch has concluded a 'comprehensive solution' to the euro crisis is technically and politically beyond reach." [View news story]
Exactly!
Instead the grand master wizards of finance are reduced to stripping the carcass and devouring each other (e.g. JPM vs MFG)
That doesn't preclude them from sucking the last of the marrow out of retail investors skeletons. Anything to survive is allowed as our government had turned into a hollow and willing vassal for the bankers. There is one small problem...once this layer of wealth evaporates due to de-hypothecation and mistrust in the CDS market (think non-triggered credit events in Greece as example) ...the fall in shadow banking will be swift and hard ... Sucking the rest of the financial system down into a Ponzi-collapse financial black hole. The concern of the day will move from profits purely to concern about Counter-party risk.
Uncertainty in Europe is just one reason for the market's weakness today, says Abby Joseph Cohen. There is an incredible amount of risk aversion right now, as trigger-happy portfolio managers, anxious to protect gains, react harshly to any whiff of bad news. Investors should look past year-end, as there are many positive signs for the market, Cohen says. One glaring example - the Fed's dividend discount model implies the S&P 500 up to 40% undervalued at present. (video) [View news story]
Add to that:
Many unemployed youth slowing down household/family formation.
Huge private sector debt overhang.
Inevitable tax rates rise no matter the party (yes they are the same)
Markets take a new leg down as Fitch speaks on the summit result. "A 'comprehensive solution' to the current crisis is not on offer ... Hopes that the ECB would step up its actions ... appear to have been misplaced ... We still believe the ECB, ... is the only truly credible 'firewall' against liquidity and solvency crises in Europe." [View news story]
What does "hope" have anything to do with investing or trading?
If we base our view of future value on an asset class based on "hope" then we are setup for failure. However, hope is a great selling tool to snag suckers and weak minded fools,
What I think is going on is wholesale manipulation of asset prices and winners and losers picked solely out of political considerations. Those that are "hopeful" aren't connected or likely to win unless by accident/proximity.
The Santa Rally has to be one of the most absurd trading strategies based on hope I have ever seen. If there is a rally based solely on belief and hope it will only end in tears.
If I have a "hope" then it would be for investors and traders to behave rationally which is even more ridiculous than the hope for a Santa Rally.
I think of the Financial Collapse of 2008 as a bomb that exploded but the powers that be have put all of their efforts into containing force of the detonation by putting up barriers made out of paper. The problem is that all their attempts are only adding fuel to the fire while delaying the burning raging inferno that will unfold in the sad reality of bank runs, default, despair, and depression. It is only a matter of when. Once the financial institutions have sacrificed all collateral, all human capital, all goodwill, on the alter of Price Stability will it become apparent that the "great moderation" has failed to do anything but add more fuel to the detonation.
The Bear is the contrarian. So much bullishness (Santa Clause Rallies, Fed hockey stick saves, ECB bond buying, Chinese liquidity taps open, bazookas, fairies, unicorns shitting skittles, angels, heck anything to explain why stocks must go up is all I keep reading)
How Investors Can Still Get Ready For The Greek Election [View article]
Central banks are preparing for coordinated action to provide liquidity if needed following this weekend's Greek elections, according to G-20 sources. Markets are flying. [View news story]
From coordinated central bank intervention to a conference call amongst finance ministers? The rumor looks to have been downgraded as Reuters reports EU finance ministers plan to hold a conference call on Sunday evening to discuss the Greek election outcome. [View news story]
Stocks are as oversold today as they were since the doom-and-gloom days of the financial crisis, says Bespoke's Paul Hickey. In total, 5 out of 10 S&P 500 sectors are now three standard deviations from their 50-day moving average. "This is as oversold as they have been at the lowest points," Hickey says. "We simply haven't gotten more oversold than this versus the 50-day." [View news story]
Ireland's Sealink investment firm sues a rack of big banks (including JPM, C, BAC, RBS, CS and more) for $948.8M in damages over residential mortgage-backed securities, charging material misrepresentation and omissions in underwriting standards. [View news story]
Gold Gets Nervous [View article]
Honest money haters will never admit they are really the ones that benefit from the repression their ideologies support. Fact.
While there are still plenty of risks to an economic recovery, the start of 2012 is nothing like the 2008-2009 crisis, observes Goldman's Jim O'Neill. One third of the euro zone that’s supposedly falling apart is actually improving, and China appears close to a soft landing. "The evidence from all over the place is that it’s nothing like '08." [View news story]
My trust in the system is so eroded that I barely trade any more and actually keep cash in a safe. I am not alone. You can go twiddle with your other buddies in this anemic volume market and pretend everything is ok. IT ISN'T.
I live out in the real world where things are getting worse..not better. I hear about lay-offs every week from friends of mine across the entire spectrum of industry. Again, keep your pump going. Maybe you can dump your stuff in time for the guaranteed soon to arrive crash.
Bank of America (BAC +5.7%) led all S&P gainers today and has easily outperformed the index so far this year, and Bret Jensen expects the momentum to continue throughout 2012. He cites the housing market finally hitting bottom, a continuing drop in loan-loss provisions, and good progress in shoring up its capital levels. [View news story]
Mark My Words, These Stocks Will Double In 2012 [View article]
While some believe the ECB's new collateral and loan rules amount to a backdoor QE, allowing banks massive firepower to purchase sovereign debt, the banks themselves think differently. "When investors are constantly asking what you have on your books, and the board is asking you to reduce your exposure, it doesn't really matter," says the treasurer of a major EU bank. "Am I going to buy Italian bonds? No." (see also i, ii, iii) [View news story]
In addition to France, Fitch also places Belgium, Spain, Slovenia, Italy, Ireland, and Cyrus on negative watch. "Fitch has concluded a 'comprehensive solution' to the euro crisis is technically and politically beyond reach." [View news story]
Instead the grand master wizards of finance are reduced to stripping the carcass and devouring each other (e.g. JPM vs MFG)
That doesn't preclude them from sucking the last of the marrow out of retail investors skeletons. Anything to survive is allowed as our government had turned into a hollow and willing vassal for the bankers. There is one small problem...once this layer of wealth evaporates due to de-hypothecation and mistrust in the CDS market (think non-triggered credit events in Greece as example) ...the fall in shadow banking will be swift and hard ... Sucking the rest of the financial system down into a Ponzi-collapse financial black hole. The concern of the day will move from profits purely to concern about Counter-party risk.
Uncertainty in Europe is just one reason for the market's weakness today, says Abby Joseph Cohen. There is an incredible amount of risk aversion right now, as trigger-happy portfolio managers, anxious to protect gains, react harshly to any whiff of bad news. Investors should look past year-end, as there are many positive signs for the market, Cohen says. One glaring example - the Fed's dividend discount model implies the S&P 500 up to 40% undervalued at present. (video) [View news story]
Many unemployed youth slowing down household/family formation.
Huge private sector debt overhang.
Inevitable tax rates rise no matter the party (yes they are the same)
Austerity
...
Markets take a new leg down as Fitch speaks on the summit result. "A 'comprehensive solution' to the current crisis is not on offer ... Hopes that the ECB would step up its actions ... appear to have been misplaced ... We still believe the ECB, ... is the only truly credible 'firewall' against liquidity and solvency crises in Europe." [View news story]
If we base our view of future value on an asset class based on "hope" then we are setup for failure. However, hope is a great selling tool to snag suckers and weak minded fools,
What I think is going on is wholesale manipulation of asset prices and winners and losers picked solely out of political considerations. Those that are "hopeful" aren't connected or likely to win unless by accident/proximity.
The Santa Rally has to be one of the most absurd trading strategies based on hope I have ever seen. If there is a rally based solely on belief and hope it will only end in tears.
If I have a "hope" then it would be for investors and traders to behave rationally which is even more ridiculous than the hope for a Santa Rally.
A 'Lehman Event' May Be Near [View article]
A 'Lehman Event' May Be Near [View article]