Hierarchical handiwork....

[aussiebear]

Going for green. All Ords +0.4% with REITS +0.8% taking a turn in the lead followed by Financials, Gold and IT, all +0.6%. Healthcare's the only down sector, -0.1%.

 

 

 

 

[aussiebear]

 

 

 

 

 

 

 

http://finance.yahoo.com/intlindices?e=asia

[aussiebear]

 

 

http://money.cnn.com/markets/morning_call/

 

 

 

 

 

 

 

http://www.kitco.com

 

 

 

http://www.kitconet.com/webcharts/base_metals.html

 

Energy futures

[aussiebear]

 

 

Found on a fireworks crate from China.

[MrHanky]

Report Details How Lehman Hid Its Woes as It Collapsed

 

"Richard S. Fuld Jr., Lehman’s former chief executive, certified the misleading accounts, the report said.

 

“Unbeknownst to the investing public, rating agencies, government regulators, and Lehman’s board of directors, Lehman reverse engineered the firm’s net leverage ratio for public consumption,” Mr. Valukas wrote.

 

Mr. Fuld was “at least grossly negligent,” the report states, adding that Henry M. Paulson Jr., who was then the Treasury secretary, warned Mr. Fuld that Lehman might fail unless it stabilized its finances or found a buyer."

 

 

http://www.nytimes.com/2010/03/12/business/12lehman.html

 

Only "grossly negligent"?...Try "LIED OUT OF HIS ASS"

[aussiebear]

 

 

A flattish and relatively unexciting day. All Ords scraped up +0.1% and the only sector moving was Gold +1.4% trailed by Energy +0.4% and Financials +0.3%. There were small losses at the red end: Telecomms and Consumer Staples -0.3% were down the most.

 

Nothing much happening in Asia: China and Honkers -0.1%, India +0.2% and Nikkers +0.8%.

 

 

On to UK/Europe:

 

Footsie

 

 

 

DAX

 

 

 

CAC 40

 

[fxfox]

EUR/USD broke the downtrendline.

 

Everything going up.

 

S&P at high of the year.

 

IF retail sales are good we could get the blow off top some are waiting for.

 

Worth looking at USD/CAD. At 7 am EST we get CAD employment data, then 90 mins later US retail sales. IF the loonie then falls below 1.02 it could drop like a stone.

[fxfox]

absolöute and total world wide melt up.

 

S&P now trading above this years high.

[Lemur]

absolöute and total world wide melt up.

 

S&P now trading above this years high.

 

 

Boy, did bears get it wrong this last couple of months.

[fxfox]

looks like the whole world covers their EUR/USD shorts. Relentless unstopable upmove. I would NEVER EVER short it today. And even if it would go down 100 pips today from todays top i would not be sad. On a day like this one cant go short. Where this will end? Who knows. But thats definitely short covering on a broad basis.

 

There was definitely too much talk about Greece. In europe you couldnt turn on the TV last few weeks, or read ANY newspaper not to see a discussion about Greece, or read something about Greece.

 

What really happend? Those folks who were ALWAYS against the euro came out and said their things which they also said 10 years ago. Nothing new. They have their same opinion since 10 years. Yet, the euro went from 0.80 to 1.60 during the same time. Now it did fall to 1.35 and the whole world runs amok????????????????

 

The euro in fact is a GIFT for europe. We would have MEGA competitive devaluation during the world wide financial crisis. It would have been almost impossible for SME's to do business abroad, cause exchange rates would have gone amok.

 

The fx market always plays "topics". Now it was Greece, soon it willö be another thing. Maybe the monster budget deficit of the US.

[fxfox]

better than expected unemployment rate in Canada (8.2 vs. 8.3 expect), USD/CAD falls below key support 1.02, trades at 1.0167 right now.

[Rationalize]

Boy, did bears get it wrong this last couple of months.

For about 12 months actually.

 

Color me surprised.

 

Still, I guess we are so doomed, etc.

[Lemur]

looks like the whole world covers their EUR/USD shorts. Relentless unstopable upmove. I would NEVER EVER short it today. And even if it would go down 100 pips today from todays top i would not be sad. On a day like this one cant go short. Where this will end? Who knows. But thats definitely short covering on a broad basis.

 

There was definitely too much talk about Greece. In europe you couldnt turn on the TV last few weeks, or read ANY newspaper not to see a discussion about Greece, or read something about Greece.

 

What really happend? Those folks who were ALWAYS against the euro came out and said their things which they also said 10 years ago. Nothing new. They have their same opinion since 10 years. Yet, the euro went from 0.80 to 1.60 during the same time. Now it did fall to 1.35 and the whole world runs amok????????????????

 

The euro in fact is a GIFT for europe. We would have MEGA competitive devaluation during the world wide financial crisis. It would have been almost impossible for SME's to do business abroad, cause exchange rates would have gone amok.

 

The fx market always plays "topics". Now it was Greece, soon it willö be another thing. Maybe the monster budget deficit of the US.

 

 

More rumours about a Greek bailout fuelled the rally I hear.

[fxfox]

For about 12 months actually.

 

Color me surprised.

 

Still, I guess we are so doomed, etc.

escapism does not lead to trading success.

[Lemur]

For about 12 months actually.

 

Color me surprised.

 

Still, I guess we are so doomed, etc.

 

 

Tell me about it. This board (in general) has been far too bearish right through the last year.

 

We need to stop being intransigent about this, admit we were wrong and modify our approach. Top calling is poison.