Instead of treasuries the fed is now expected to purchase mortgage bonds as a round of stimulus; this according to the largest bond dealers….so no official word yet.
Comments »German Finance Minister Exploring European Stability Union
Should the Fed Save Europe From Disaster?
Hedge Fund Darlings: What Are Money Managers Buying?
Daily Mail: Only Merkel can save the eurozone now
As an eerie silence falls over the eurozone’s leaders, shares slump through another week, wiping yet more billions off the value of savings and pension funds.
Comments »Citi: Western World Just Beginning a Decade of Deleveraging
This makes us very different from those Japan comparisons given their debacle occurred during a global credit expansion period.
Comments »SocGen: 2012 Looks Like A Repeat Of 2009
Who Will Gain Market Share From Black Friday ?
Upgrades and Downgrades This Morning
Upgrades
CVG – CGGVeritas initiated with a Hold at Collins Stewart
MBT – Mobile TeleSystems upgraded to Buy from Neutral at UBS
Downgrades
CRIC – China Real Estate Info downgraded to Market Perform from Outperform at William Blair
POZN – POZEN target lowered to $7 at Brean Murray
VIP – VimpelCom downgraded to Neutral from Buy at UBS
Comments »Gapping Up and Down This Morning
Gapping up
POZN +43%, TSPT +5.6%, YHOO +0.8%, BEXP +0.2%
Gapping down
AEG -3.1%, ARMH -2.5%, ASML -2.0%, T -0.7%
Comments »In Play and On the Wires
Schiff: Merkel’s plan could save the euro
Jim Chanos Gets Back From His Asia Tour and He is Even More Bearish
A Look Into the Feds Darkest Scenario For Bank Stress Tests: 13% Unemployment and DOW 5600
It may be the darkest scenario, but would not be considered if it was a possibility.
Comments »Big Banks to Lose $138 Billion From Customer Loss
move your money to credit unions or you might be the prey from all those losses piling up from lost customers.
Comments »Roubini: “The contagion has now gone viral, cross Atlantic and global.” (video)
“Life is Like a Ride”
Stupidly I bot some TNA at the close on Friday. I thought there was a chance we were at the bottom of the range and could see a pop. Well 2.24 days of trade has my portfolio looking like a turkey. Not a full on turkey as it would be slaughtered.
Where will we find support ? If it is not 1163 then the next stop is 1150. If we break 1150 then your portfolio will resemble:
The Turkey gods have left us for dead; and i would not count on Santa either.
I have to get off the TNA ride; in other words consider stopping out.
In the spirit of Thanksgiving i wil be thankful for all my blessings and look to trade another day.
GLT
[youtube://http://www.youtube.com/watch?v=TQYaVb4px7U&feature=fvwrel 450 300]
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Sarkozy’s Half Brother Sarkozy: A New Dr. of Doom or Reality ? (video)
This comment shows the gravity of Europe’s problem and why if the ECB does not act then another LEH Bros. event is at least in my mind inevitable.
Comments »Jim Grant: “Central Banks Are Insolvent” (video)
Citigroup’s Economic Surprise Index is Showing Elevated Levels
Generally this indicates a point where analysts become “excessively optimistic”
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