aussiebear Posted May 21, 2012 Report Posted May 21, 2012 An opening surge for most of the early birds: Kiwis -0.3%, Aussies +0.9%, Nikkers +0.7% and Sth Korea +1.1%. In Aussie sectors, Gold still on the move, +2.1%, Miners +1.9% and Materials +1.7%.
aussiebear Posted May 21, 2012 Author Report Posted May 21, 2012 http://finance.yahoo.com/intlindices?e=asia
aussiebear Posted May 21, 2012 Author Report Posted May 21, 2012 http://money.cnn.com...s/morning_call/ http://www.kitco.com http://www.kitconet....ase_metals.html http://finance.yahoo.com/
aussiebear Posted May 21, 2012 Author Report Posted May 21, 2012 Found in 5-star hotel room binder in Tunxi, China.
Rationalize Posted May 21, 2012 Report Posted May 21, 2012 I doubt I'm alone in not being familiar with this practice: When a public offering trades below its offering price, the offering is said to have "broke issue" or "broke syndicate bid". This creates the perception of an unstable or undesirable offering, which can lead to further selling and hesitant buying of the shares. To manage this possible situation, the underwriter initially oversells ("shorts") to their clients the offering by an additional 15% of the offering size. In this example the underwriter would sell 1.15 million shares of stock to its clients. When the offering is priced and those 1.15 million shares are "effective" (become eligible for public trading), the underwriter is able to support and stabilize the offering price bid (which is also known as the "syndicate bid") by buying back the extra 15% of shares (150,000 shares in this example) in the market at or below the offer price. They can do this without the market risk of being "long" this extra 15% of shares in their own account, as they are simply "covering" (closing out) their 15% oversell short. If the offering is successful and in strong demand such that the price of the stock immediately goes up and stays above the offering price, then the underwriter has Dover Sole the offering by 15% and is now technically short those shares. If they were to go into the open market to buy back that 15% of shares, the underwriter would be buying back those shares at a higher price than it sold them at, and would incur a loss on the transaction. This is where the over-allotment (greenshoe) option comes into play: the company grants the underwriters the option to take from the company up to 15% more shares than the original offering size at the offering price. If the underwriters were able to buy back all of its Dover Sole shares at the offering price in support of the deal, they would not need to exercise any of the greenshoe. But if they were only able to buy back some of the shares before the stock went higher, then they would exercise a partial greenshoe for the rest of the shares. If they were not able to buy back any of the Dover Sole 15% of shares at the offering price ("syndicate bid") because the stock immediately went and stayed up, then they would be able to completely cover their 15% short position by exercising the full greenshoe. Greenshoe Got to love a free option.
aussiebear Posted May 21, 2012 Author Report Posted May 21, 2012 A slightly more optimistic market today. All Ords closed +0.6% with reasonable strength in Gold/Miners, both +1.9% and Materials +1.6%. IT -1.5% was the only red sector. Over in Asia, China +0.4%, Honkers -0.4%, India +0.4% and Nikkers +0.3%. On to UK/Europe:
Jetlag Posted May 21, 2012 Report Posted May 21, 2012 It already applies, especially to "paper gold" and "paper silver"....today! _______ Two guys walk into a bar One guy holds $100,000 of GLD that he paid $75,000 for The other guy holds GLD call options that he paid $5,000 for and are now worth $30,000 On a Monday morning, trading in GLD is halted -- the ETF closes down, and the options become worthless and GLD shares are liquidated at 5 cents on the dollar Which douche would you rather be? The bartender obviously! He's holding the physical lead&shotgun after all...
Jetlag Posted May 21, 2012 Report Posted May 21, 2012 New All Time, lifetime high in... ...google searches for "Bank run"
Trader Joe Posted May 21, 2012 Report Posted May 21, 2012 New All Time, lifetime high in google searches for "Bank run" Bullish! Risk On Buy Stocks!!! Now, before it's too late -- and while they're still green.
Trader Joe Posted May 21, 2012 Report Posted May 21, 2012 Euro banks runs picking up steam Once they hit full tilt LOB
DrStool Posted May 21, 2012 Report Posted May 21, 2012 Wall Street Examiner Exclusives Weakening Federal Withholding Tax Collections Do Note Bode Well For Employment0 Comments Unemployment Claims Like Barbecue- Lower But Slower0 Comments The Conomy Game- The Legend of Bennie The Beard, Henry the Hitman, and the Gangbankster Dealers5 Comments My Exchange With "Tyler Durden"2 Comments Is The Precious Metals Selloff Manipulated So Insiders Can Accumulate?0 Comments RSS Feed Read 'em and weep Browse European Crisis Latest News EU Leaders Say Bloc Will Act to Fight Crisis - BusinessWeek Europe's debt crisis joins governments and banks at the hip - Los Angeles Times G8 Leaders Discuss European Debt Crisis - Voice of America Echoes of Eurozone crisis at NATO meeting - The Seattle Times Featuring Top 4/49 of European Crisis Browse JP Morgan Latest News MF Global Trustee Gets $168 Million From JPMorgan - New York Times JP Morgan Struggles to Unwind Huge Bets - Wall Street Journal JPMorgan's debacle, and its parallels to AIG - Washington Post Could Glass-Steagall Have Stopped JPMorgan Loss? - NPR Featuring Top 4/32 of JP Morgan Latest News Latest Headlines Bridgewater Assoc.’s Dalio Says It’s A Beautiful Deleveraging – Barrons.com Nasdaq CEO Blames Software Design for Delayed Facebook Trading – Bloomberg Senator Suggests CFTC Chief Should Be Fired – Washington Wire – WSJ Today Germany is the Big Loser, Not Greece Campbell reports lower third quarter net income on higher costs, sluggish sales – Washington Post China traders default on coal payments JPMorgan CIO Risk Chief Has Trading-Loss History – BusinessWeek (blog) France presses for euro area bonds as crisis salve – Reuters Yahoo! to sell stake in China’s Alibaba for $7.1 billion- Full Story Who Is JPMorgan’s Irv Goldman? – BusinessWeek Analysis: Investors lose faith in stock valuation compass – Reuters This Week in Small Business: It’s Small Business Week! – New York Times (blog) Spanish Economy Still Struggles – Wall Street Journal DaVita to buy physician network operator HealthCare Partners in $4.42 billion deal – Washington Post Lowe’s 1Q Net Up 14% On Warm Weather, Calendar Shift; Lowers Full Year … – Wall Street Journal US Stock Futures Signal Bounce – Wall Street Journal Europe stocks inch up after G8 vague on Europe fix – Atlanta Journal Constitution Barclays To Dispose GBP3.8B Worth Of BlackRock Holding – Wall Street Journal SPX Update: Key Overlap at 1292 Leaves the Bulls Feeling "Facebooked" CORRECT: Ryanair Says Fuel Costs, Euro Crisis To Pinch Profit – Wall Street Journal
Trader Joe Posted May 21, 2012 Report Posted May 21, 2012 GAsHBuStbOOk Let start it again $38 $37 $36 $35 $34 $33
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