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December 13th, 2009 10:07 pm
Greece risks financial Armageddon while Ireland makes cutsCourtesy of Edward Harrison at Credit Writedowns
The Irish government announced draconian spending cuts of 6 billion Euros in order to stave off a debt crisis in the worst modern-day downturn in the nation’s history. Even so, Irish government bond yields have been rising relative to German government bond yields, the benchmark for the Eurozone. Over the past five years the spread had averaged about 40bps. Now it is 170b...
December 14th, 2009 11:58 am
Courtesy of Tyler Durden
Submitted by Janet Tavakoli, via Huffington Post
Last week I was a participant in the Wall Street Journal's Future of Finance Initiative in England. WSJ has written a summary of the conference highlights, and missed some key points. Allow me to fill in the blanks.
Paul Volcker, former Fed Chairman and current Chair of the President's Economic Advisory Board, made the most worthwhile comments. Moral hazard was not discussed in the open forums, so Volcker reminded the assembly...
December 13th, 2009 9:10 am
On the Value in HousingCourtesy of Jake at Econompic Data
Felix Salmon recently made the case in his post Against Liquidity:
Investing shouldn’t be about safety: it should be about calculated risk.and...
Liquidity is not ever and always a good thing.And I completely agree. But both of those points seem to be in conflict with a more recent post of his more from Chart School
March 19th, 2010 9:29am
Well now we're officially cashed out!
As I always do before options expiration I reviewed our Buy List, which, this quarter, is a list of 37 stocks we've been playing since late December and, sadly, after reviewing 37 of our favorite investments very carefully this week - I could only conclude that cashing them out was the only decision I could be comfortable with this week. Of 66 trades we had on our 37 stocks, 64 are winners with an average return since 2/8 of 28% - since most of the trades were designed to make 40% for the year - it just seems silly not to take the money and run now, on March 19th.
You are not supposed to have 64 out of 66 winners in 6 weeks, you are not supposed to make 3/4 of what you anticipate for the year in 6 weeks - that is NOT how the markets are supposed to work! When the ma...
December 10th, 2009 1:04 am
Hey all. I apologize for missing yesterday. We are back on today. Tuesday was a semi-okay day. We continued our short sale of AMD, which we got stopped out on for a 3% loss at 6.65. The sto...
December 11th, 2009 5:29 pm
Today’s tickers: EWJ, RX, UUP, DRI, IMAX, SFD & AET
EWJ - iShares MSCI Japan Index Fund – Shares of the Japan exchange-traded fund rose 0.3% today to $9.92. The roughly 125,000 contracts exchanged on the fund today is likely the work of one investor adjusting previously established positions. The trader may be unraveling a portion of a bearish risk reversal established back in late-September. It appears 62,500 puts were sold at the March 10 strike for 53 cents apiece, spread against the purchase of the same number of calls at the January 2011 12 strike for 24 cents premium each. The technically bullish direction of the risk reversal play is possibly a closing transaction given the large levels of existing open interest at each strike described above.
December 9th, 2009 4:51 pm
INSIDERS REMAIN DOUBTFUL OF THE RALLYCourtesy of The Pragmatic Capitalist
Few things have been more confounding over the course of the 60% rally than the lack of insider conviction with regards to purchasing their own stocks. The latest data on insider selling and buying continues to show alarmingly low levels of buying accompanied by very high levels of selling. As we continue to see the very weak rebound in revenues and non-existent hiring it has become more and more clear why insiders lack conviction in their own shares – after all, without a rebound in hiring and organic revenue growth ...
December 14th, 2009 10:12 am
This post is for live trades and daily comments.
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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...
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