Just as the blood and guts of both the bond and stock markets were beginning to sploosh over the railings, Captain Bernanke and his surrogates fired a shot across the tape, calling a halt to the slaughter. In what could only be described as a coordinated counter-offensive, the FOMC’s doves did a flyover, dropping their…
Welcome to the Sausage Factory
Josh here – my friend and CNBC Fast Money co-host Stephen Weiss has written a very insightful take on the market’s reaction to all this wonderful Fed Transparency. Weiss’s take is that we might have been better off had the Fed just done the taper and then told us about it after the fact –…
So…Was That Capitulation?
Jonathan Krinksy, technical analyst at Miller Tabak + Co, is out with an interesting statistic discussing just how aberrational the turmoil of this week has been. He notes that having a “down 95% day” wherein 95% of all trading volume is in declining stocks – happens very infrequently. And having a down 95% day follow a down…
Hot Links: Free at Last
Your morning financial links, expertly curated.
Clips from Today’s Fast Money
Dan Nathan vs Karen Finerman: Buy Dips or Sell Rallies?
Video.
handoffs are messy.
Mohamed El-Erian uses the term “handoffs” to describe the changes taking place around the world as various market forces and regimes take over from each other. In China, it’s the handoff between an infrastructure-based economy to a consumer-driven one, for example. Here in the US, we’re attempting a handoff from a Federal Reserve life-support economy…
“Financial Evangelism”
Oh my… From Bloomberg: About 35,000 people waved towels and banged inflatable noisemakers as Primerica Inc. (PRI)’s co-Chief Executive Officer John Addison walked across the stage of the Georgia Dome in front of exploding fireworks. “What we need, Primerica needs, is you, you, you in your seat right now, at your best to commit to go…
The Three Dimensions of Trading
In a recent missive from Nick Colas, I found this awesome gem, from an anecdote about sitting with the in-house shrink of a hedge fund he used to work at: The first year I worked at a hedge fund, I spent an hour late every Wednesday afternoon with the firm’s psychiatrist. It wasn’t just me. My trading…
Hey you!
Hey you! Guy who runs the largest bond fund on earth…what do you think of buying bonds here? “We think it’s a great time to be buying bonds!” How about you? Guy’s who writes books and newsletters about gold and does investment banking for junior gold miners and sells gold to retail investors – is…
