randomly aggregated from my in-tray, ending with my early morning missive
player r: BofA is a servicer. If I own a note that BofA is servicing, and they arbitrarily decide to not foreclose, therefore adding to my loss severity, I am going to demand that BofA makes up the difference.
What is even more interesting is BAC is up today, albeit just pennies.
I am thinking that some FAZ may be in order here, lots of bang for the buck.
player j: here's a link to the pocket veto story
4closurefraud.org
player b: EZ to figure QE2 coincides with this mess. Obama sees the votes are not with the banks and vetos for political capital. Fed, which answers only to the banks that own it, steps in to backstop BAC and the cronies. Life goes on, but the system stinks.
Arch in October. Game is fixed, otherwise mkts would already be tumbling. Same msg from Russell, also Hegarty. Sheeple take note. In the long run we're all f*cked.
From my friend Jerry Hegarty, who has compounded returns @ 20%/yr in the zero sum game of futures. I've known him for a decade,and I've never known him to say 'the fix is in'. FWIW.Go well.
The S&P futures opened -1.00 points and dipped to an intraday low of -5.00 points at 10:29 ET. The futures rallied to an intraday high of +5.00 at 11:34 ET. The Nasdaq futures bottomed at 10:36 ET and peaked at 11:43 ET.
There is very little doubt that the fix is in. Bad news is good news. Every dip is a buy. Large up openings never look back. In my opinion , the Fed is likely to be behind the buying in equities just as they lend money to large banks that turn around and support the treasury market. The Fed haopes to restore consumer confidence by manipulating the equity markets higher . Most investors have two primary assets , their retirement plan and real estate. Forget about real estate . It will be a decade before consumers will be able to access equity in real estate again. Stocks are the only vehicle left for the Fed to rig. There is little doubt that a year end rally is forthcoming in the equity markets.
The S&P 500 cash index reached an intraday high of 1165.24 which is slightly above the resistance area that we have highlighted just above the 1160.00 level. The past three S&P 500 cash index intraday highs were 1162.33 and 1162.76. The 1162.00 - 1164.00 remains worth watching.
Today’s equity put versus call ratio is currently .85 which is neutral. . The VXO ( 19.41) is currently -1.19 and remains slightly bearish. There have been no new block trades today.
AA released its earnings and its shares are currently +6.6%. Intel will be the next significant release after Tuesday's close. It is highly probable that stocks will rally next week.
Futures
For the track record, we will remain in cash for now.
Equities
For the track record, we will stay with our long INTC stake.
Options
For the track record, we will remain long one unit of the 1175 calls (symbol SPX 10J1175) at $4.80.
player l: for those that are bored...
minyanville.com
meanwhile gartman called for gold to collapse to $1180-1200 today.
player h: below is the complete Gartman quote, and it doesn't sound unreasonable to me, given we have 96% DSI bulls and 83% Maket Vane bulls in silver, and 95% DSI bulls in gold. some sort of correction is probably very close. note though the reversal candle posted yesterday (outside down day) is almost never seen at the end of a move. usually the market produces one more leg up after such a candle.
As the EUR traded to 1.4040, spot gold traded to $1365 for the briefest of moments and then plunged. At one point yesterday, amidst panic selling, spot gold traded down to $1325. It has since rebounded a bit overnight, trading back to $1337 or so, but one gets the sense that if the ERU begins to weaken even modestly, gold shall weaken quite materially.
Let’s make certain we understand one thing this morning: we are and we almost certainly shall remain long term bulls of gold. We believe that a year from now, gold shall likely be trading materially higher than it is presently and that the highs made yesterday will be taken out. However, we are just as convinced that between now and the turn of the year we shall see spot gold trade down to the $1180-$1220 level, in the process taking the late longs out of their positions in panic and returning the market to long term health.
Are the world’s government’s collectively debasing their currencies in rush? Yes, in most instances this is correct, and as such gold has proven to be a valid store of value. We know that argument and we believe that argument; but we also believe that the level of illadvised and very rank speculation has reached a fevered pitch in gold in recent days, measured by the sheer volume of demands on our time for interviews with the media. The last time we had such demands for interviews on gold was last December, only a day or two before gold plunged from $1225 to $1050 in the course of two months. History, as they say, may not always rhyme, but it has metre. So, like Sgt. Esterhaus of “Hill Street Blues,” as we send everyone out into the heated gold trading world with the admonition, “Be careful out there”
player h: Goldman Sachs publicly calls for US dollar collapse (presumably they have some euros to sell?)
telegraph.co.uk
player l: Mohamed El-Erian, chief executive and co-chief investment officer of fixed income fund manager Pimco, has said he is willing to bet that Greece would take a sabbatical from the Euro within three years.
efinancialnews.com
player g: Nice. Goldman who was bailed out by the us tax payer now calling for its demise.
I don't know what to do. But I like Kaiser openly calling for heads of all major banks to go to jail. Military tribunal style. As he said correctly, who many have gone to jail for this f...k up vs the savings and loan crisis. Exactly zero.
Can imagine why skilling maybe pissed
Time to hang a few , just to make the public happy
As the chinese correctly say, cut the head off tghe chucken to show the monkeys that you mean business.
So let's start with goldman. Take 2 or 3. Persecute. Maybe even stone for usury. Who really cares if it is just
Which brings me to a serious point. I called that the iraq war was lost when bush did not summarily execute (yes I mean what I say) all those responsible for the atrocity at the iraq jail , just after the invasion. Really do not care if right or wrong. But would have sent a very different message. Instead the played exactly into the resistance, as the video tapes circled the world as a ralllying cry !
Execute your own for violations of code and gain respect ! Has been a lesson of invading armies for eternity. And have the leader himself carry it out, and gain even more of your own and the invaded .
player j: ah, the crux of the matter, due process.
which is now selective at best given the outstanding suspension of habeas corpus.
better than your guy, one must wonder why andy fastow isn't hailed as a genius when it comes to official policy concerning off balance sheet accounting world wide today. ah, but he didn't go to the same church presumeably as your guy who ran the company. not to mention the original sinner at the telcom run by what's his name, from the 2002 rogues gallery.
all in good time player g. lynching on every street corner of Dumbfuckistan, and all the other -stans in the making across the empire, once known as Nato.
i suspect the china folks will not forget what today's refugee's, by the color of their skin, once did, when the Bund was populated by white traders only.
good luck.
player tj: as long as there is no public revolt, there is no sincerity behind the anger. in the case of team usa, what public anger has been displayed put fear into neither the authorities nor the establishment. silly laws gets proposed, instead, and more money is taken down as bonus, as usual.
i do not believe the tea party participants understand what has already been done to them, and i think they cannot fathom what is being planned for them.
the gaps in knowledge and organization between everyday person and their rulers and ruling-enablers are simply too vast.
cheers |
