italy 10 year bonds…for some perspective
we don't reference the bond market enough…we will do this more as it is the key driver at the moment…as it often is. the issue with italy is clearly reflected in teh 10 year bond yield of italian bonds. essentially their borrowing cost is more than 6% now…that's not healthy
MS bucket 2 long-side is interesting
we may consider a new long position in MS for bucket 2. banks remain underowned and overshorted and as a relative outperformer we like a few select names going into end of November should the performance anxiety hit. right now the stock is still at the 50 day moving average and at the 50% retracement […]
profit taking
this morning… we took full profits in our Bucket 2 shorts in: SPY we took full profits in our Bucket 3 shorts in: CAT AAPL we took half profits in our Bucket 2 shorts in: WYNN …at first profit target at $128
Gaps update…
yesterday and this morning the big gap up from last Thursday's euro bailout joy filled. now this mornign we woke up to a 31 point gap. so far today we have filled half of it. the other half remains but has a decent chance of filling someitme today.
Morning Thoughts November 1
After yesterday's late-day selloff markets this morning look much weaker still as we approach the opening bell. It's not our job to read news headlines to you but here's why we are selling off: Bloomberg quote – "Greek Prime Minister George Papandreou called a referendum and a parliamentary confidence vote, raising the prospect of derailing […]