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IDS World Markets Thurs 26th July 07


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Peru made history last week, as it came out with 1.4 billion bucks worth of 30yr local currency debt that the market (foreigners and locals) gobbled up.  It was the largest and longest local currency debt issue in emerging market history.

 

A couple of months ago, I posted here that I had completed the largest sale of local debt of our portfolio ever.  This is a chart of the Peruvian 2026 local currency bond that I sold entirely when it was yielding 6.00%.

 

Hall of Fame material...  B)  B)  :)

594094[/snapback]

 

 

Well done :D

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Interesting comment on Minyanville from a guy who was head Treasury trader for 15 years for two major primary dealers:

 

---Massive loss of confidence among young traders who have never seen a lack of liquidity

 

---There aren't enough seasoned, weathered traders to deal with this mess

 

---Traders don't know how to deal with illiquidity as they are used to a permanent bid and always tighter spreads

 

---Dealers are bidding 10 pts back of normal because they already have too much inventory

 

---In many cases, there is no market

 

---Inventories at the banks is huge and they will have to geet marked to market next week causing many funds to go under

 

---We need one headline like 'Buffett to buy Chrysler deal' to clean up market

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:o

594130[/snapback]

 

Suds

 

I usually look for lower lows at least 3 weeks out before batting from the other side... It looks like that should not be hard with these readings.. :lol:

 

post-1110-1185479285_thumb.jpg

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So who's playing buy the closing LOD sell the open tick the next day? Works (almost) every time.

594101[/snapback]

 

 

They are touting that on CNBS now, saying on 6 of 7 big down days up 150 points the next day. :lol:

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Interesting comment on Minyanville from a guy who was head Treasury trader for 15 years for two major primary dealers:

 

---Massive loss of confidence among young traders who have never seen a lack of liquidity

 

---There aren't enough seasoned, weathered traders to deal with this mess

 

---Traders don't know how to deal with illiquidity as they are used to a permanent bid and always tighter spreads

 

---Dealers are bidding 10 pts back of normal because they already have too much inventory

 

---In many cases, there is no market

 

---Inventories at the banks is huge and they will have to geet marked to market next week causing many funds to go under

 

---We need one headline like 'Buffett to buy Chrysler deal' to clean up market

594143[/snapback]

 

So what yer saying is that we have to now worry about Pigmen unloading T's in addition to Wu Yi & Fukui? Sounds good to me. :D

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On a more bullish note, the damage in biodreck quite minor. I'm definitely starting to get a good i/t vibe off this group.

 

Bought a few small exploratory positions this week. Perhaps not the best timing, but will be watching this sector for further signs of life.

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So who's playing buy the closing LOD sell the open tick the next day? Works (almost) every time.

594101[/snapback]

 

 

They are touting that on CNBS now, saying on 6 of 7 big down days up 150 points the next day. :lol:

594147[/snapback]

 

Well, the SPX is already 20pt off the lows and the Sow is up 150 pts.

 

So maybe we already had tomorrow's rally.

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On a more bullish note, the damage in biodreck quite minor. I'm definitely starting to get a good i/t vibe off this group.

 

Bought a few small exploratory positions this week. Perhaps not the best timing, but will be watching this sector for further signs of life.

594150[/snapback]

 

Not sure about the group but AFFX swam against the tide today... B)

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