iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,445 Blog Posts

Carry Trade Drama

Okay, real quick, for a I am busy making millions in the market right now and have no time to fuck with you free loaders here:

Today’s key tells are [[FXY]] and [[TLT]]

TLT is telling you deflation is infecting the economy, via lower rates. I can get a 30 year mortgage now for 4.9%.

FXY is going up because the Yen carry trade is unraveling. Look at the Aussie/Yen cross: fucking repulsive. There is a run for the exit, as money managers trample over one another, but find themselves trapped in the proverbial funnel. I WARNED YOU ABOUT THE FUCKING FUNNEL!

Finally, we have air pockets from here to the “flash crash” lows. Like I said, look for the market to retest 9,900 then bounce.

Seriously, I hope many of you are okay and have not done too much damage to your bullshit portfolios.

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27 comments

  1. JuiceyFruit

    Art Cashin in any VXX chips yet, Señor T?

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    • scum bucket bitchez
      scum bucket bitchez

      nAW HIM’S GONNA RIDE IT TO ZERO. HEHEHEHHEHE

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  2. Dave

    Bullshit portfolio in the green today, thanks to shorts (AKS, PXP, HGMI), egregious inverse ETFs like EDZ, and OTM puts delivered by the anti-fuckery machine I e-mailed you about earlier in the week (e.g., the AUG 60 puts on BHP that are up 44% right now.

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  3. Mr. Cain Thaler
    Mr. Cain Thaler

    This was pretty obscene. I completely expected a bounce going through the end of yesterday. Thank God, I didn’t try to play it too much; just trimmed off some of my oil shorts.

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    • Dave

      I was waiting for an intra-day bounce on MMR to short it yesterday and didn’t get that filled. Now I wish I had just shorted it at the market yesterday.

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  4. J

    Look at the Aussie/Yen cross: fucking repulsive. There is a run for the exit, as money managers trample over one another,

    That’s half the story, the other 1/2 is that the leftwing government here, attempting to plug a deficit hole as a result of too much stimulus spending, has decided to impose a “super-profits tax” on the miners bringing their effective rate to 57% from 43%.

    DON’T buy Aussie mining stocks like BHP and RIO unless they hurtle down to A$ 29 bucks or so (BHP Equivalent and now trading ant $36.60). They imposed this tax from 2012 onward so the market is adjusting for the theft and money managers are trying to escape like a herd of elephants through the key-hole.

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    • Yogi & Boo Boo

      j -I thought the tax was proposed. Will it actually get through?

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    • The Fly

      That super tax is insane.

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      • The Fly

        I hear it can cut profits by a third.

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        • J

          It’s proposed, but they’re not backing down, Yogi. The miners pay royalties to the states here and these sacks of turd at the Federal level saw a heap of cash they could get their hands on and went for it.

          ———–

          Fly:

          Yea that’s right… BHP and RIO will end up paying 88% of this tax as they make 88% of the profits as the rest of them are pretty much in start mode and have a lot of depreciation to expend. They currently pay around 43% all in, including corp. income tax and state royalties. The tax will end up taking them to 57%, so it’s over a 30% increase.

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    • Dave

      I own a micro cap that sells to BHP, so I bought puts on BHP as a quasi-hedge. Those puts (the AUG 60s) are up 46% today.

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  5. DMG

    You can get a 30 yr at 4.75% today, son.

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  6. panamaorange

    Ordinarily, the market would be incapable of bouncing into summer
    But, this next leg up to 12k, over next few weeks will be led by the bric nations (china,russia,india,brazil)
    BRIC nations traders don’t take 4 month vacations like New York traders- EEB lead rally will defy summer seasonality,just like 2007 . PBW DBA EEB are headed to re-test their all time highs.

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  7. Cheesetrader

    The scary – or at least sobering part of all this, is that we’re still a ways away from any 50 x 200 crossovers in the Spoos or FAZ or FXY

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  8. The Fly

    What’s the sense in this?
    http://www.wmur.com/news/23611657/detail.html

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  9. Yabollox

    So many bargains— so little cash.

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  10. Below Me WIlly

    short VXX 34.14

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  11. Below Me WIlly

    covered 33

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  12. tradingnymph

    I was watching that OZ slap down last night….via that pair and ours.

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  13. Hugh Hendry

    Question for you Fly: when you say “flash crash low” are you talking about the march 2009 low or something else?

    cheers

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