Full disclosure: I have no idea what this market is doing right now. Sovereign yields are lower, alongside the euro. European markets are up; but we just gave back a monster open. None of the inverse ETFs are doing anything, yet select stocks are being smashed. The TLT is lower, lending to my confusion.
On the other hand, I see strength in stocks like MTW and TEX and wonder, what the fuck is going on? Perhaps it’s just “one of those weird days”. The problem I have with enduring “weird days” is often times they morph into fucking routs. People are holding onto shares now, in the face of a big reversal. But if the indices start to go down in earnest, I suspect things will get ugly and fast.
I am sure about one thing: I am not adding to anything right now. My cash position is about 30% and I am leaving it there until there is clarity.
If you enjoy the content at iBankCoin, please follow us on Twitter
That’s what happens when correlation breaks and algos are less active (maybe).
ya know what we need is a new world government so they can fix everything. that way everyone will be a millionare, 2 cars in every garage. 5 bedroom homes. the stock market will go to 200000000000 and shit like that. this will fix everything. hope this clears it up 4 ya. you can thank me later
The small mid west futures broker PFGBEST crossed the news when we were up 60, I think it tanked the market, could have a upside reversal when the bullshit is sifted.
italy may tap eu funds. we r running out of players.
that news was out before the open dumbass
And yet Italian stocks are +0.45% today.
Take a look at how much the 10 and 30yr treasuries are rallying. Flight to percieved safety??
ei
Fly
I think the market is becoming worried about the possibility of the US recession.
15 trillion in U.S. debt, 15.6% real unemployement, higher taxes on the way, Euro crisis Foreign debts, Bath Salts, homeless vets, ….NATO in Afghanistan, Putin’s Soviet master plan, Chavez now is cancer free, Obama’s blaming Bush for the economy, BP oil on the shore I can’t take it anymore…
Then VOTE OUT the trouble-causing Republicans, especially the Tea Baggers, and vote in a Congress with a solid majority of stock market friendly Democrats.
And re-elect Obama in a landslide, not some Cayman Island – Swiss Bank account tax dodging stiff.
You’re delusional.
Who said ‘tax all income over $250k?”
Oh, that’s right, your dumb ass.
‘100% tax on all income over $250k’
^
Yon fiscal cliff approaches.
Look for yield…
12-12-12
If the FED doesn’t step in, down we go. Then, of course, the FED will step in. I think Ben is waiting for disaster to strike before he acts. He will act but it will be closer to the election so that Obama can talk about how great the recovery is. They’ll need a couple of good NFP prints without gas prices spiking too high. They are walking a fine line but they will try to thread the needle. My guess, mid-September.
I don’t think. i think they’re going to go next month after the second shocking payroll number.
Just found out that JCP is getting rid of it’s shoe salesmen. Now that is a bold stroke of genius.
PFG is a shock to the futures trading system. After MF Global, futures traders wanted to think that that problem was company specific and could never happen again, that other futures brokers were trustworthy. Au contraire, mon frere.
exactly…
sir fly, just sent u an email on how to open a U.S. flag, i know you being a patriot, would like this.