How deep to CIT's tentacles reach? Are there CDS timebombs that are going to be triggered by default? Im sure GS and JPM are perfectly hedged - AIG your cue to wire over a few billion but alas Citi and Merrill have you been good boys and bought CDS from your CDS supermarket AIG?
Perhaps if AIG sells a billion shares at the market here they will get close to meeting their CDS exposure?? I kid I kid - it couldnt happen again right?
Young fund manager must be thinking like this - Financials Bad again - TECH safe buy em all GOOG, RIMM, AAPL, AMZN - blah blah blah.
The heat seeking algos are in a buying frenzy - SPUZ are saved by a few Russian and Chinese programming geniuses algos - its so silly allready. Buying SPUZ when they are down is like knowing you are gonna score with a hooker - done deal.
Id say the windowdressing winner of the day is OIL futures - up 3.27 a barrell - a job well done.
of course higher oil only means the dollar is getting whacked which makes the Pavlovian dogs buy everything. Higher oil as we have been schooled by the bald guy is actually bullish for us - its a GOOD sign.
People are lamenting the bears today saying oh they had em on the ropes only to see a rally sprout - well when you are Davy and you are fighting Goliath - your chances stink.
JB
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment