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coolhand's Account Talk
- Thread starter coolhand
- Start date
coolhand
Well-known member
http://www.reuters.com/article/idUSTRE63T30B20100501
A knife-edge British election, a European Central Bank meeting and monthly U.S. jobs data would all be expected to dominate markets in more normal times. But it is the fate of Europe's peripheral economies that still eclipses all else.
Markets are in what AXA Investment Managers calls "panic mode," resulting in the European bond market being drained of liquidity and with some investors forced to sell because of sovereign debt downgrades.
And longer-term, the landscape has been changed by the crisis.
A knife-edge British election, a European Central Bank meeting and monthly U.S. jobs data would all be expected to dominate markets in more normal times. But it is the fate of Europe's peripheral economies that still eclipses all else.
Markets are in what AXA Investment Managers calls "panic mode," resulting in the European bond market being drained of liquidity and with some investors forced to sell because of sovereign debt downgrades.
And longer-term, the landscape has been changed by the crisis.
coolhand
Well-known member
My friend Don on Trader's Talk has opened up his new Seven Sentinels website as of late last week. The link to the site is in my signature line. Lot's of great info over there and I highly recommend you take a look around.
About Don:
IYB (Don) has been a trader and student of the market for more than four decades. He spent two decades on Wall Street as a top producing broker for Merrill Lynch, Shearson and others, and today is one of the most prolific contributers to Traders-Talk.com, a popular meeting spot for top equities and commodities traders, where he has been sharing his detailed technical analysis, unique trading tools, and general trading concepts since 2002. He is the author and creator of the highly acclaimed Seven Sentinels market indicator, among other technical tools:
The concept of the Seven Sentinels is my own and is based on a very simple but universal truth that I've observed in nature, everywhere I look, since I was a child - the principle that external follows internal. The Seven Sentinels are internal measures of the pressure produced by prevailing money flow into or out of the markets. External price movement follows this building pressure as a very natural process, just as birth follows pregnancy, exhaling follows inhaling, a volcano follows the build up of gases below the Earths surface or a Tsunami follows a 10.0 earthquake. If you observe the one, you can trade in sync with the other. This simple truth provides perhaps the most powerful trader's edge in existence.
About Don:
IYB (Don) has been a trader and student of the market for more than four decades. He spent two decades on Wall Street as a top producing broker for Merrill Lynch, Shearson and others, and today is one of the most prolific contributers to Traders-Talk.com, a popular meeting spot for top equities and commodities traders, where he has been sharing his detailed technical analysis, unique trading tools, and general trading concepts since 2002. He is the author and creator of the highly acclaimed Seven Sentinels market indicator, among other technical tools:
The concept of the Seven Sentinels is my own and is based on a very simple but universal truth that I've observed in nature, everywhere I look, since I was a child - the principle that external follows internal. The Seven Sentinels are internal measures of the pressure produced by prevailing money flow into or out of the markets. External price movement follows this building pressure as a very natural process, just as birth follows pregnancy, exhaling follows inhaling, a volcano follows the build up of gases below the Earths surface or a Tsunami follows a 10.0 earthquake. If you observe the one, you can trade in sync with the other. This simple truth provides perhaps the most powerful trader's edge in existence.
KevinD
Well-known member
Sorry to be so nit-picky but you need to give IYB credit for the above quote. It gives the appearance that you made that statement...not him.
I'll be going 100% G tomorrow. Thanks for your continued vigilance.
KevinD
Well-known member
On second thought, what about the F fund?
Check Bullitt's post here...
http://www.tsptalk.com/mb/showthread.php?p=269410#post269410
coolhand
Well-known member
On second thought, what about the F fund?
Check Bullitt's post here...
http://www.tsptalk.com/mb/showthread.php?p=269410#post269410
Maybe it's a good trade, but I'm not making it.
coolhand
Well-known member
http://www.bloomberg.com/apps/news?pid=20601087&sid=alJWdKeR1TDU&pos=2
Euro-region ministers agreed to a 110 billion-euro ($146 billion) rescue package for Greece to prevent a default and stop the worst crisis in the currency’s 11-year history from spreading through the rest of the bloc.
The first payment will be made before Greece’s next bond redemption on May 19, said Jean-Claude Juncker after chairing a meeting of euro-region finance ministers in Brussels yesterday. The 16-nation bloc will pay 80 billion euros at a rate of around 5 percent and the International Monetary Fund contributes the rest. Greece agreed to budget measures worth 13 percent of gross domestic product.
“It’s an ambitious program, it’s austere but it’s absolutely necessary,” Juncker told reporters. European Central Bank President Jean-Claude Trichet, speaking at the same press conference, said Greece’s plan will “help to restore confidence and safeguard financial stability in the euro area.”
Euro-region ministers agreed to a 110 billion-euro ($146 billion) rescue package for Greece to prevent a default and stop the worst crisis in the currency’s 11-year history from spreading through the rest of the bloc.
The first payment will be made before Greece’s next bond redemption on May 19, said Jean-Claude Juncker after chairing a meeting of euro-region finance ministers in Brussels yesterday. The 16-nation bloc will pay 80 billion euros at a rate of around 5 percent and the International Monetary Fund contributes the rest. Greece agreed to budget measures worth 13 percent of gross domestic product.
“It’s an ambitious program, it’s austere but it’s absolutely necessary,” Juncker told reporters. European Central Bank President Jean-Claude Trichet, speaking at the same press conference, said Greece’s plan will “help to restore confidence and safeguard financial stability in the euro area.”
coolhand
Well-known member
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a7MGjN6HKlNY
International Monetary Fund’s 110 billion-euro ($145 billion) bailout package for Greece will fail to win support from some of the region’s governments.
Europe’s currency snapped three days of gains against the yen before EU members debate the implementation of the program this week. South Korea’s won fell for the first time in three days after China raised bank reserve ratios for a third time this year to cool the world’s fastest-growing major economy.
“There’s still a big question about whether Greece can deliver and also how the population will react,” said Niels Christensen, a foreign-exchange strategist at Nordea Bank AB in Copenhagen. “Even though we’ve had the deal, Greece will continue to be a key factor keeping the euro vulnerable.”
International Monetary Fund’s 110 billion-euro ($145 billion) bailout package for Greece will fail to win support from some of the region’s governments.
Europe’s currency snapped three days of gains against the yen before EU members debate the implementation of the program this week. South Korea’s won fell for the first time in three days after China raised bank reserve ratios for a third time this year to cool the world’s fastest-growing major economy.
“There’s still a big question about whether Greece can deliver and also how the population will react,” said Niels Christensen, a foreign-exchange strategist at Nordea Bank AB in Copenhagen. “Even though we’ve had the deal, Greece will continue to be a key factor keeping the euro vulnerable.”
coolhand
Well-known member
http://www.bloomberg.com/apps/news?pid=20601089&sid=aFaODIq8xczc
Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst.
The Shanghai Composite Index has failed to regain its 2009 high while industrial commodities and shares of Australian resource exporters are acting “heavy,” Faber said. The opening of the World Expo in Shanghai last week is “not a particularly good omen,” he said, citing a property bust and depression that followed the 1873 World Exhibition in Vienna.
“The market is telling you that something is not quite right,” Faber, the publisher of the Gloom, Boom & Doom report, said in a Bloomberg Television interview in Hong Kong today. “The Chinese economy is going to slow down regardless. It is more likely that we will even have a crash sometime in the next nine to 12 months.”
Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst.
The Shanghai Composite Index has failed to regain its 2009 high while industrial commodities and shares of Australian resource exporters are acting “heavy,” Faber said. The opening of the World Expo in Shanghai last week is “not a particularly good omen,” he said, citing a property bust and depression that followed the 1873 World Exhibition in Vienna.
“The market is telling you that something is not quite right,” Faber, the publisher of the Gloom, Boom & Doom report, said in a Bloomberg Television interview in Hong Kong today. “The Chinese economy is going to slow down regardless. It is more likely that we will even have a crash sometime in the next nine to 12 months.”
coolhand
Well-known member
You have to wonder about stuff like this...
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aF_IdB_NrMQE
Billionaire Warren Buffett praised Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein and said the bank shouldn’t be blamed for losses suffered by clients who invested in mortgage bets at the center of a fraud lawsuit filed by regulators.
“He’s done a great job running that firm,” Buffett said in Omaha, Nebraska, in a Bloomberg Television interview before the annual shareholders meeting of his Berkshire Hathaway Inc. on May 1. “My choice would be to have Lloyd running it this year, next year and 10 years from now.”
Buffett, who invested $5 billion in the bank in 2008, has been one of Goldman Sachs’s most visible advocates after the firm was sued by the U.S. Securities and Exchange Commission for misleading clients who invested in a collateralized debt obligation known as Abacus 2007-AC1. The SEC said last month that firms including ABN Amro Bank NV weren’t told that the hedge fund led by John Paulson helped pick the mortgages in the CDOs and was betting on them to fail.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aF_IdB_NrMQE
Billionaire Warren Buffett praised Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein and said the bank shouldn’t be blamed for losses suffered by clients who invested in mortgage bets at the center of a fraud lawsuit filed by regulators.
“He’s done a great job running that firm,” Buffett said in Omaha, Nebraska, in a Bloomberg Television interview before the annual shareholders meeting of his Berkshire Hathaway Inc. on May 1. “My choice would be to have Lloyd running it this year, next year and 10 years from now.”
Buffett, who invested $5 billion in the bank in 2008, has been one of Goldman Sachs’s most visible advocates after the firm was sued by the U.S. Securities and Exchange Commission for misleading clients who invested in a collateralized debt obligation known as Abacus 2007-AC1. The SEC said last month that firms including ABN Amro Bank NV weren’t told that the hedge fund led by John Paulson helped pick the mortgages in the CDOs and was betting on them to fail.
coolhand
Well-known member
http://www.businessinsider.com/the-future-of-the-global-public-debt-explosion-2010-5
Everyone and their brother intuitively knows that the current government fiscal deficits in the developed world are unsustainable. They have to be brought under control, but that requires some short-term pain. Today we look at a rather remarkable piece of research from the Bank of International Settlements (BIS) on what the fiscal crisis may morph into in the future, how much pain will be needed, and what will happen if various countries stay on their present courses. Some countries could end up paying north of 20% of GDP just on the interest to serve their debt, within just 30 years.
Everyone and their brother intuitively knows that the current government fiscal deficits in the developed world are unsustainable. They have to be brought under control, but that requires some short-term pain. Today we look at a rather remarkable piece of research from the Bank of International Settlements (BIS) on what the fiscal crisis may morph into in the future, how much pain will be needed, and what will happen if various countries stay on their present courses. Some countries could end up paying north of 20% of GDP just on the interest to serve their debt, within just 30 years.
coolhand
Well-known member
http://www.rollingstone.com/politics/news/;kw=[3351,136554]?RS_show_page=0
On the day the Securities and Exchange Commission filed suit against Goldman Sachs for securities fraud, shares in the company plunged 12.8 percent, closing at $160.70. The market, it seemed, was finally passing judgment on a decade of high-stakes Wall Street scammery that left America threatening Nigeria, Indonesia and Belarus on the list of the world's most corrupt economies. A few days later, Goldman announced its first-quarter numbers. Profits were up 91 percent, to a staggering $3.4 billion.
Compensation and bonuses soared to $5.5 billion, up from $4.7 billion in the first quarter of 2009. Battered in the press, Goldman was raking up on the bottom line. So investors once again leapt into Goldman's arms, pushing the stock as high as $166.50, not far from where it was even before news of the SEC suit broke.
Goldman isn't dead – far from it. But this new SEC suit officially places it at the center of a raging national discussion about the hopelessly fucked state of American business ethics. As a halting, first-step attempt at financial regulatory reform makes its way toward a vote in the Senate, the government has finally thrown open the door and let a few of the rottener skeletons tumble out.
On the day the Securities and Exchange Commission filed suit against Goldman Sachs for securities fraud, shares in the company plunged 12.8 percent, closing at $160.70. The market, it seemed, was finally passing judgment on a decade of high-stakes Wall Street scammery that left America threatening Nigeria, Indonesia and Belarus on the list of the world's most corrupt economies. A few days later, Goldman announced its first-quarter numbers. Profits were up 91 percent, to a staggering $3.4 billion.
Compensation and bonuses soared to $5.5 billion, up from $4.7 billion in the first quarter of 2009. Battered in the press, Goldman was raking up on the bottom line. So investors once again leapt into Goldman's arms, pushing the stock as high as $166.50, not far from where it was even before news of the SEC suit broke.
Goldman isn't dead – far from it. But this new SEC suit officially places it at the center of a raging national discussion about the hopelessly fucked state of American business ethics. As a halting, first-step attempt at financial regulatory reform makes its way toward a vote in the Senate, the government has finally thrown open the door and let a few of the rottener skeletons tumble out.
coolhand
Well-known member
http://www.independent.co.uk/news/business/news/clients-prepare-to-sever-goldman-ties-1960103.html
Capricorn Investment Group, one of the world's biggest family offices, could break its relationship with Goldman Sachs following accusations by the US financial watchdog that the firm misled clients over mortgage trading.
The California-based firm is the first big client known to be reviewing ties with the investment bank in the wake of the fraud allegations which stunned the financial world, but dozens of others are said to be considering their relationship.
Capricorn Investment Group, one of the world's biggest family offices, could break its relationship with Goldman Sachs following accusations by the US financial watchdog that the firm misled clients over mortgage trading.
The California-based firm is the first big client known to be reviewing ties with the investment bank in the wake of the fraud allegations which stunned the financial world, but dozens of others are said to be considering their relationship.
Bullitt
Well-known member
One hand washes the other.
350zCommTech
Well-known member
Well, that's what I would be saying if I had a ton of GS shares to unload.
Or, he could just be showing his true colors.
Warrenlm
Well-known member
The portion of his newletter discussing the BIS projections provides a clear view of the draconion tax levels coming our way. And the ominous "age-related" discussion touches many on this board. Who can even imagine a federal budget surplus in our lifetimes? On CNBC this morning Buffet again extolled the incredible engine of the American economy. And he talked of limiting deficits to 2-3% of GDP. Even that will be hard with little growth and this paper notes the need for a surplus.
