OCC and OTS Mortgage Metrics Report Q3 2009 This report is the latest release from the Office of the Comptroller of the Currency and Office of Thrift Supervision on the mortgage industry and the stats on the performance. It is a great report that...
VIX Is Low There is an old saying on Wall Street that when the VIX is high you buy and when its low you go. For those unfamiliar with the VIX index it is the ticker symbol for the Chicago Board Options Exchange...
Alcoa Earnings Preview Alcoa kicks off earnings tonight. Obviously the industry that Alcoa falls into has been red hot as of late with the falling dollar. It will be interesting to see what the numbers look like. Below...
Shadow Inventory Put At 1.7 Million in 3Q A study done by First American Core Logic released by CAR (California Association of Realtors):
“Shadow Housing Inventory” Put At 1.7 Million in 3Q According to First American CoreLogic.
Summary:
As...
Will History Repeat? If so, SPY @ $52 A lot of happy people out there... or so it seems. The green shoots have bloomed into amazing profits at banks and a 60%+ rally in the market from the dark lows. I'll admit I've been a happy camper...
Its starting to be a regular occurence where the trading robots over at JP Morgan start a buying spree in the last half hour of trading. Below is a chart showing this action, including todays push up. This move resulted in the DOW having a price range of 190 points. What are your thoughts on this???
Market News
Most of the time this is a bullish signal when there is a rally into the close. Also there is a W pattern forming, which could lead to a breakout of new highs. No matter if it is being manipulated/artificial or not it is real … so it is tough to ignore
It is tough to ignore that volume, but how long can this last until the bottom finally falls out and the manipulation is toast?
If you can't beat em join em!!!
Odie I agree with you… these guys control the market so why fight it… even if it makes Zero sense whatsoever. Im expecting another big silly rally tomorrow… they love Tuesdays!
They will keep the market up until they're done with their secondary offerings.
http://www.theundergroundinvestor.com/2009/06/tel...
Seem to be doing it through JPM
http://www.theundergroundinvestor.com/2009/06/tel...
Although UBS got in on it today
http://zerohedge.blogspot.com/2009/06/intraday-sp...
Of course, that 4m+ share UBS buy of SPY at the close was probably just an accident, I'm sure…
…And I'm sure there's no collusion or anything either, not like these guys talk to each other or anything…
Thanks for the links Dave… unfortunately I agree with you. Although I do believe things are going to get volatile as we head into some sizable resistance from where we currently are on the SPY through $99.