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IDS World Markets Wed 3rd May 06


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t?s=^AORD

 

 

The RBA raised the interest rate for the first time in 14 mths so now Oz is sitting at 5.75%. All Ords +0.1% and the only 2 green sectors are Materials +1.2% and Energy +0.6%. The rest are red to varying degrees: Property Trusts, Telecom and Utilities all sharing bottom place, -0.7%.

 

In the miners, BHP and RIO both 1.6% and the golds are up with the exception of Newmont, -0.9%.

 

Oils are currently around +0.7% but the volume is exceedingly light.

 

Asia heading up.....

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w?s=^AORD

 

 

Another mundane day in the market. All Ords closed flat, Materials +1.1% and Energy +0.3% still the only 2 green sectors and a selloff in Telstra sent Telecom to -2.9%.

 

Miners headed up strongly and even Newmont came off the lows, -0.3%. Oils struggled and Santos lapsed into the red, -0.6%.

 

Over in Asia (oops just realized Nikkers closed today) there's a reasonably strong showing with nary a red in sight.

 

Over to UK/Europe:

 

t?s=^FTSE

 

t?s=^GDAXI

 

t?s=^FCHI

 

http://quote.yahoo.com/m2?u

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Indeed, former Fed Chairman Alan Greenspan roiled the markets soon after assuming office and shortly before Black Monday on October 19, 1987, when he was interviewed on national television by ABC's David Brinkley and suggested the Fed was powerless to prevent inflation once it became expected by consumers. Greenspan never again granted a television interview while head of the Fed....

 

Diane Swonk, economist at Mesirow Financial, said Bernanke's talking to Crapvision only was a "bit of an odd precedent." "But this chairman isn't going to sit around and massage messages. He's going to tell you, you guys got it wrong," Swonk said....

 

The Fed Fumble Indicator

 

(he'll learn...it's ALWAYS lonely at the top)

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High Noon Thursday: Butch and Sundance Face-Off with Bolivia, Peru, Venezuela to Claim the Gold

 

"Thursday's summit in Puerto Iguazu, Argentina, will help "avoid all the alarmist news being put out by the world's media. ? They are not going to sow discord among us, because that's what they want to alarm the companies, alarm the people," Chavez said."

 

(be on the look out for large block orders and unusual call/put activity today :lol: - the question is, which house on Cheat Street has an inside on the outcome ?)

post-2304-1146643720_thumb.jpg

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Indeed, former Fed Chairman Alan Greenspan roiled the markets soon after assuming office and shortly before Black Monday on October 19, 1987, when he was interviewed on national television by ABC's David Brinkley and suggested the Fed was powerless to prevent inflation once it became expected by consumers. Greenspan never again granted a television interview while head of the Fed....

 

Diane Swonk, economist at Mesirow Financial, said Bernanke's talking to Crapvision only was a "bit of an odd precedent." "But this chairman isn't going to sit around and massage messages. He's going to tell you, you guys got it wrong," Swonk said....

 

The Fed Fumble Indicator

 

(he'll learn...it's ALWAYS lonely at the top)

 

Funny, that nobody is wondering why Maria waited until monday late afternoon before innocently dropping her remark about this conversation? Do we all believe she was not aware about the importance of this news?

How much money was made by correctly positioning before his announcement?

 

But maybe everybody was feeling a little strange after the performance of Colbert at the dinner. For those who didn't see it:

http://www.crooksandliars.com/2006/04/29.html#a8104

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Just a few hours to go. Get your bids in now!

 

Bid on a one-time introductory trial subscription to the Wall Street Examiner Professional Edition at eBay and get a great deal! There's an auction ending today. Now's your chance to get a really great price on an introductory 3-month trial subscription to this indispensible source of information and data you can't get anywhere else! Bid now on today's auction!

 

Whatamibid? Whatamibid? How about you sir? Yes, you sitting at your computer in the tank top and shorts! Do I hear 25? 25,30 35,40? Thank you! To the lady in the red hat.

Bid HERE RIGHT NOW!

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That Trillion Dollars in Commodity Derivatives seems an astonishing number for most, but in terms of the $100 Trillion held by all Merkin banks, it is little more than a rounding error.

 

It's so small that it is lumped in with "Equities" in the official reports.

 

No doubt the most junior of the derivatives traders are put on the commodities desk for orientation/training before they move on to play with the big boys on the Interest Rate Swapo and FX'ing desks.

 

For those that have never seen exacty what windy is talking about with JPM's 700 story burning derivatives tower, check out most recent quarterly report from the OCC at the link below-which is not suitable for small, impressionable children, the infirm, etc.

 

http://www.occ.treas.gov/deriv/deriv.htm

 

PS-Know its early in the day for some, so YES, the report summary does talk in terms of Trillions, thats with a "T".

 

:ph34r:

 

:o

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That Trillion Dollars in Commodity Derivatives seems an astonishing number for most, but in terms of the $100 Trillion held by all Merkin banks, it is little more than a rounding error.

 

It's so small that it is lumped in with "Equities" in the official reports.

 

No doubt the most junior of the derivatives traders are put on the commodities desk for orientation/training before they move on to play with the big boys on the Interest Rate Swapo and FX'ing desks.

 

For those that have never seen exacty what windy is talking about with JPM's 700 story burning derivatives tower, check out most recent quarterly report from the OCC at the link below-which is not suitable for small, impressionable children, the infirm, etc.

http://www.occ.treas.gov/deriv/deriv.htm

 

PS-Know its early in the day for some, so YES, the report summary does talk in terms of Trillions, thats with a "T".

 

:ph34r:   

:o

 

Thanks, .... allthough I get only 10% of the meaning of it all :mellow: couple things are clear even to me

1. I need an urgent recalibration .... I just cannot make sense ... or mental picture ... of those numbers

2. The graphs look a least as parabolic as the gold chart... how long can they keep growing that derivative mountain?

 

Also a more serious question, does this derivative stuff really count as 'money' or 'liquidity' in the system?

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Also a more serious question, does this derivative stuff really count as 'money' or 'liquidity' in the system?

 

 

Neither, actually.

 

In simple terms, the $100 Trillion or so reported is the "face value" of the varioius "financial insurance" contracts written by the bonkers. The insurance policy is against various financial risks, like unfavorable currency, interest rate or commodity moves.

 

The OCC report includes both "on exchange" (options and futures) and private (over the counter) contracts.

 

The $100 Trillion is only what's on the Merkin bonkers books, not (necessarily) the other party to the insurance-or any banks (ie foreign) or other financial firms (ie insurance companies) outside the OCC's controls.

 

World wide, the market is so huge and complex, the players don't really even know what risks they have actually taken on or who the counter parties to the contracts are.

 

To paraphrase Pogo-

 

"We have met the counterparty and he is us."

 

:o

 

http://www.margrabe.com/Dictionary.html

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BMW Q1 profits up 57 Percent.

 

FRANKFURT, Germany (Reuters) -- BMW, the world's biggest premium carmaker, reported a 57.7 percent gain in first-quarter pretax profit Wednesday, helped by a one-off gain but still beating anal cysts' expectations.

 

It also tweaked its 2006 earnings guidance higher by forecasting not only that pretax profit would rise to a record 4 billion euros as deliveries to customers reach an all-time high, but also that earnings excluding one-off gains would advance.

 

-----

 

I guess global liquidity is still great for luxury products.

 

http://www.cnn.com/2006/BUSINESS/05/03/bmw...tion=cnn_latest

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I Am Madness is the Goog-meister. As I recall, IAM did some incredible trading a couple days before OpEx on some cheapie GOOG options. And FxFox actually called the move up!

 

We'd sure expect a GOOG bounce now, wouldn't we?

 

Meanwhile my buddy LSS gapped DOWN A BUCK :o :o :o :o :o

 

shakeout.

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