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  • Gold Drops Sharply Below $1150 With Eyes On $1130 [View article]
    If everyone waited, then no one would end up publishing anything. For all anyone knows, there is a fat finger trying to squeeze shorts in a low trading volume vacuum. Nothing fundamentally changed. Wouldn't be surprised for gold to come back down once fat finger realizes he's the one left holding the bag.
    Dec 1, 2014. 09:54 AM | Likes Like |Link to Comment
  • If Oil Can Drop 40%, What's Gold Going To Do? [View article]
    While your analysis sheds some interesting light, the conclusion is that your analysis is futile. This world is about the fat finger. The ramps that happen precisely at hours, minutes, and seconds that you can exactly remember. Just look at the oil ramp: 3:00:00 sharp; hasn't stopped and unlikely to stop. And when the fat finger makes it come back down, the market will break and someone will decide all those trades don't count, and press reset so it will go up again. That's how it's always been, and that's how it will be.

    Gold will do whatever the fat finger wants to do. 3% round-trip after Swiss referendum was dismissed. Oil 4% round-trip.
    Dec 1, 2014. 09:48 AM | 2 Likes Like |Link to Comment
  • Weighing The Week Ahead: Escape From The Trading Range? [View article]
    I agree. My belief is that you can only push people so far before they realize that there is nothing to lose.

    By looking at the protests and organized strikes in Greece by transportation, electricity/tax collectors and also people working in the finance ministry themselves, you are seeing people angry yet still rational. Any sort of new austerity measure which will highly be "ridiculous" such as the property tax on people as well as pension cuts, wage cuts on people who need it the most will likely result in some sort of demand to overthrow the government.

    Once that is in place I believe Greece has the only choice to bring in the police (but honestly, they are Greeks too, they suffer the same austerity measures as the ones protesting) and which I think would be highly ineffective. Just look at Libya and the military where top leaders joined the opposition. It only takes one top official to switch sides and it is game over.

    The EU/ECB/IMF will demand more austerity. This will in turn lead to angry citizens overthrowing the government. That is how I think this will end...regardless of funds or no funds. The Greek people will take their country into their own hands, without the obstruction of politicians.
    Oct 17, 2011. 01:40 AM | 1 Like Like |Link to Comment
  • The Emergency Homeowners Loan Program is returning more than half of the $1B it was funded with as not enough people were approved in time to receive aid. HUD says setting the program up took longer than hoped and eligibility requirements disqualified more than expected. Only in America.  [View news story]
    I am surprised they returned the money. Most government agencies would definitely find a way to buy a 500M dollar coffee machine.
    Oct 7, 2011. 05:30 PM | 1 Like Like |Link to Comment
  • Greece is not the new Lehman, and the current environment is "not even close" to 2008, Frank Holmes of U.S. Global Investors says, noting that corporate balance sheets remain strong and 700-plus companies in the S&P 1500 boast Y/Y revenue growth of 10% or more; during the bottom of the cycle in 2009, only 179 companies grew that fast.  [View news story]
    That is because Greece ISN'T is just the first piece to fall in a big splash in Europe and then globally.
    Oct 5, 2011. 07:37 PM | Likes Like |Link to Comment
  • Peter Orszag suggests a government incentive for renting could aid a housing recovery right now: Attack the oversupply of housing stock by allowing a tax write-off for investors who buy empty properties and rent them out. No matter what, "the deleveraging process will still be painful and take some time. But that’s not an argument against action."  [View news story]
    sounds a bit like a twist of the buy a home now and get 7500 tax credit!
    Oct 5, 2011. 07:37 PM | 1 Like Like |Link to Comment
  • Another sign of a short-term bottom: Hedge funds who have profited from the recent market turmoil are picking up the phone to their newspaper sources to let them know how well they've done. Brevan Howard, GLG, and Caxton are among funds in the green the last 60 days as world stocks dropped 7.5% and the average HF was off 6%.  [View news story]
    3 called their news guys to bloat about their win. How about the other 97 who are down, and decided to be quiet.
    Oct 5, 2011. 07:35 PM | Likes Like |Link to Comment
  • Morgan Stanley (MS +4.2%) is romping again after telling Fox's Charlie Gasparino that their Q3 looks "solid" and likely will beat Goldman's (GS) numbers. It's a vague reminder of the March 2009 rally which began with Citi's leak that its Q1 numbers would be great.  [View news story]
    I dare any CEO to tell some analyst that their book looks ugly and that they will fall behind their competitors. If leaking numbers meant a rally was in store, then maybe the Fed's should put that in their toolbox for the future...maybe 2 years from now? so when the market is down, just call up one of the banks and tell them to leak a number out....

    this just in.....78! time for the market to rally!!!!
    Oct 5, 2011. 07:35 PM | Likes Like |Link to Comment
  • Market recap: Stocks rallied sharply into the close on optimism that Europe is moving in the right direction, a positive ADP jobs report, and some intriguing tech takeover talk (I, II, III). Materials and energy stocks led gainers, as the price of crude jumped 5.3% and other commodities surged. Financials were a drag, weighed by real estate companies. NYSE advancers led decliners two to one.  [View news story]
    Europe is moving in the right direction...which direction is that? When did bailing out everyone mean a good thing? It imposes huge losses for taxpayers because lets be honest can't we see what happens when entities fail and require bailing out?

    Positive ADP far as I know, people don't care much about ADP. Even the the Bloomberg economic calendar has a yellow star next to it suggesting "useless information". So somehow this was catalyst for a rally...hilarious.

    Tech acquisitions...we are talking about buying up all the failed companies. Ask HP how Palm tastes after dropping 1B on a failed technology.

    Oil rallies 5%....on what? Dollar weakness? Oh yes sure, that would make sure, but I'm sure we are all sensing recession around the corner. Shouldn't reduced demand dominate...instead of a ridiculous 5% rally...on nothing?
    Oct 5, 2011. 07:35 PM | 1 Like Like |Link to Comment
  • Market preview: Stock futures tick higher (S&P +0.3%) after higher-than-expected ADP jobs numbers kicked off a three-session onslaught of unemployment data. But earlier, Challenger Gray said planned layoffs rose to a 30-month high. Europe is mostly higher as talk of coordinated action to recapitalize its banks outweighs Italy's downgrade. Later: ISM services.  [View news story]
    They are high on "coordinated talks on recapping banks"...which were 1) mentioned before yesterday and 2) denied by EU today. The crooks at FT have done it again. You'd think by now, no one would be dumb enough to fall for their ridiculous headlines. Then again, if you setup a computer to have "artificial intelligence" to scour the web for headlines and you see that, it could in fact trigger quite a bit of trading.
    Oct 5, 2011. 10:30 AM | Likes Like |Link to Comment
  • Initial Jobless Claims: -37K to 391K vs. -4K consensus. Continuing claims -20K to 3,729,000.  [View news story]
    From MarketWatch...

    WASHINGTON (MarketWatch) - New applications for unemployment benefits sank by 37,000 last week to 391,000 to mark the lowest level since April, but a government official suggested the surprising drop may have stemmed from a variety of "technical" issues not captured by normal seasonal adjustments.

    I'm 10000% sure the drop was due to 1 of 2 reasons:
    1) the unexpected "technical" issue that was not captured so conveniently during a weak market
    2) benefits sank because people have been out of work longer than the 99 weeks allowed, so of course they drop off the list. it is a no brainer!
    Sep 29, 2011. 10:00 AM | 5 Likes Like |Link to Comment
  • Former Fed vice-chair Alan Blinder puts QE4 out there - imagining a future round of central bank purchases involving not only MBS, but corporate bonds, syndicated loans, consumer receivables, "and so forth" (maybe even that treadmill we can't unload on craigslist?).  [View news story]
    I have some empty wine bottles which I cleaned out during the weekend...maybe they will give me a couple of bucks for those too?
    Sep 28, 2011. 02:20 PM | Likes Like |Link to Comment
  • Germany's CPI jumps to 2.6% in September from 2.4% in August, according to preliminary data from the country's Statistics Office. It's the highest reading since September 2008, when it hit 2.9%.  [View news story]
    Increase prices on consumers, pay more taxes to the government, bail out failure countries who cannot balance a check book even if their life relied on it.
    Sep 28, 2011. 11:27 AM | Likes Like |Link to Comment
  • As expected, Greece's Parliament passes a law allowing new property taxes. The tax will be assessed on citizens' electricity bills, thus making them subject to losing utility service if left unpaid. However, workers at the state electric company have said they would not enforce such action.  [View news story]
    It is the cool thing..."hey, we are part of the eurozone!"

    Their austerity measures are going to kill the country and then eventually get kicked out or dissolve into civil war. The people they are trying to protect are the ones being taxed while the rich will always find a way to escape the new taxes. Don't pay for electricity...just buy a generator...probably cheaper that way.
    Sep 27, 2011. 01:52 PM | Likes Like |Link to Comment
  • The man who launched a massive worldwide rally in stocks with his report of a €TARP yesterday, CNBC's Steve Liesman takes to the air to say nothing has been resolved or even officially proposed. "If the market is going up on my rumor, it is ahead of itself... Europe is either in for €2T, or the euro is done."  [View news story]
    Liesman...what an appropriate last name given the fat lie he let off. Makes you wonder how much he has in the market to make a statement as unconfirmed as that. The ethics of news reporting is entering the "we reported it first!" phase and not on authenticity.
    Sep 27, 2011. 01:51 PM | 1 Like Like |Link to Comment