The Markets Just Called the Central Banks' Bluff

Posted by: Phoenix Capital...

Post date: 09/20/2011 - 14:19

  Folks, if a coordinated intervention on the part of FIVE central banks can’t even give us one week of gains in the European banks… nor lower the cost of Dollar swaps… then we’re in the...

Gold and rise ahead of FOMC report/Newmont changes Dividend payout Policy/ Slovenia government to fall

Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 29 minutes ago

Good evening Ladies and Gentlemen: I have two hours to spare so I will bring to you today's events.  The price of gold rose by $31.20 to $1806.60 as the banking cartel were not very happy at seeing the open interest numbers as no gold or silver leaves fell from the tree.  Tomorrow we hear from the FOMC and expect to see some form of QEIII in the form of operation twist where the Fed buys longer

 

 

 

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HUI - Mining Shares surging towards a retest of all time high

Trader Dan at Trader Dan's Market Views - 41 minutes ago

Very impressive strength in the mining sector was the feature of the day in the trading session. The result was to set the index within striking distance of its recent all time high. Newmont Mining shot to yet another all time high today. Having a few days of price action under our belt allows us to get a better picture of where the buy orders and sell orders are coming in; in other words, defining where the "value" regions are located. Note the chart and look at the horizontal red line drawn near the 580 level. We remarked that the index bounced off of this level on its retest la... more »

 

It's Only Just Beginning In Europe As Principal and Interest Payments Rise From Here

It seems that Greece has managed to scrape together left-over medals from the Olympics and sell some fish in order to meet the interest payments so far but a closer look at the debt distributions - both interest and principal sends a worrying message. No wonder the Troika will be back in October!! Across all the PIIGS, there are dramatic amounts of principal and interest due over the next month or two and perhaps bond market deterioration today in the face of rising/hoping equities was the message not heard around the world.

Market Snapshot: Bipolar Market's "Lithium" Moment Hits Minutes Before Close

Another day, another roller-coaster ride in US equities as every other asset class was relatively well-behaved. We lurched from headline to headline all day long - up on some hope of a 'deal', down on news that nothing was achieved, up on 'progress', down on a revisit in October - but the lurches were much more evident in US equities than in FX, credit, TSYs, PMs, and commodities. These other markets were not dull by any means but did not exhibit the absolute schizophrenic paranoia that equities did and this was critical in getting a handle on trading today as with 30 minutes to go, equities tore back down from Friday's highs to reconnect with several fair-value models across broad risk assets and the credit markets (highlighted in our earlier European close snapshot).

Cutting Through Geithner's Endless Lies: A "Lie Detector" Analysis Of Timmy's Geopolitical Outlook

That Tim Geithner is either incomponent or a pathological liar is by now irrelevant: anything that comes out of his mouth traditionally ends up being completely wrong, either on purpose or otherwise. What is always entertaining is putting Tiny Tim through a lie detector test of some sort, which is what the good former spies from Behavioral Intelligence Research (for previous iterations of their work see here) done with their just released report "Tim Geithner at II/Delivering Alpha Conference." Which is why, while hardly telling us anything new, BIA's "body language" interpretation of what was said, and unsaid, is quite interesting now that the Treasury Secretary has decided to put upon himself to become more cryptic than the maestro and less credible than Baron Munchausen. To wit: "[Geithner's] responses to questions on the U.S. economy frequently reflect efforts to aggressively garner bipartisan support. From a behavioral perspective, however, his responses to questions about the European crisis are more significant. Mr. Geithner is asked a number of questions aimed at gaining insight into the situation and how the crisis will impact the United States. However, he consistently sidesteps specific questions and attempts to minimize the severity of certain factors suggesting he has more significant concerns than he implies about the depth of the risk in the region and the potential impact it has for the U.S. Below are our observations."

Solargate Meets Enron: Solyndra CEO And CFO To Plead The Fifth

And now the political rags will really tear the American Jobs Act, ARRA and the administration, apart, because the Venn diagrams of Enron and Watergate just crossed and the point of intersection is called Solyndra. According to Reuters: "Solyndra LLC's chief executive and chief financial officer will invoke their Fifth Amendment rights and decline to answer any questions put to them at a Congressional hearing on Friday, according to letters from their attorneys obtained by Reuters." But, but, what do they have to hide? And how many times in the past has pleading the fifth not led to a prison sentence for someone? And, implicitly, and potentially, the commencement of impeachment 

The "Lehman" Moment

Lately it is hard to avoid talk about the Lehman "Moment".  It almost makes you think that the world fell apart the weekend Lehman filed for bankruptcy protection.  But that's not the case at all.  Stocks sold off that first day, bounced the second, had another sell off, but by the Thursday, they actually closed higher than the Friday before Lehman filed.  From there they generally went down. Often painfully swiftly, though the rallies were just as sharp.  It wasn't until March of the following year that we hit the lows - a full 6 months after Lehman.





Turnaround Tuesday - Greece is Fixed (again)

Posted by: ilene

Post date: 09/20/2011 - 14:39

Turning a minor incident like Greek debt into a World-shaking economic crisis is BRILLIANT!

RANsquawk Market Wrap Up - Stocks, Bonds, FX etc. – 20/09/11

Submitted by RANSquawk Video on 09/20/2011 - 16:20 ETC RANSquawk

RANsquawk Market Wrap Up - Stocks, Bonds, FX etc. – 20/09/11

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