Its Good Land . . .
By Barry Ritholtz - November 12th, 2008, 5:30PM
via Grants
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Macro Notes
US$ rally continuesPeter Boockvar
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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November 12th, 2008 at 6:17 pm
Austrailia looking to bad naked shorting on the entire market. This looks like the way we are headed.
November 12th, 2008 at 6:30 pm
nice foretelling post form Nov 2006:
http://bigpicture.typepad.com/comments/2006/11/19271933_chart_.html
November 12th, 2008 at 6:31 pm
The Dutch should get their beads back…
November 12th, 2008 at 6:51 pm
The dutch are still paying for their tulips.
November 12th, 2008 at 6:55 pm
I hear the Natives were long corn. Bummer.
November 12th, 2008 at 7:17 pm
Yesterday I warned that being long was holding lit dynamite and that 942 better hold on S&P500. Hope you listened.
Now it gets really fugly. On the Intel gapdown tomorrow, 942 will be history. New short interest data shows even further loss of short interest in QQQQ (now almost .35 days to cover) and all the major QQQQ stocks. There are very few shorts to cover to break the fall.
November 12th, 2008 at 8:06 pm
Larry Kudlow said he said we were in a recession “a year ago.” He’s been bullish since before the pilgrams got here.
November 12th, 2008 at 8:07 pm
Steve B., how you doin’ with that QID position?
November 12th, 2008 at 8:51 pm
Sorry to repeat myself but….
ALL HAIL STEVE BARRY.
(Remember, thou art mortal!)
November 12th, 2008 at 8:55 pm
quagmire! that’s an awesome link to an old post. #20 is the clincher.
November 12th, 2008 at 10:05 pm
Mitch and wunsacon:
QID has been fine for me…over 100% return since 5/07.
I will accept no kudos, except if my master prediction, made here on 1/2/08, comes true…that this would be the worst calendar year in S&P history. Current record is -43% in 1931…we are at -41.96 right now. If that happens, I expect Barry to devote a thread to my call.
BTW I meant to say S&P better hold 842, not 942.