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Post by maxi on Jul 23, 2010 11:09:41 GMT -5
Greek banks or bank failed... I think I heard that on CNBC
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Post by abdogman on Jul 23, 2010 11:09:48 GMT -5
Spain's Espiga Savings Bank fails stress test
Diada failed stress test with Tier 1 ratio of 3.9% under adverse scenario with sovereign shock. Cajasur Bank fails test as well.
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Post by sp7015 on Jul 23, 2010 11:10:33 GMT -5
SPY 5 min chart macd in neg now
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Post by abdogman on Jul 23, 2010 11:10:52 GMT -5
Greek banks or bank failed... I think I heard that on CNBC Greece's Atebank says it failed the stress test - CNBC
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Post by sp7015 on Jul 23, 2010 11:11:22 GMT -5
vix and uup rising
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Post by maxi on Jul 23, 2010 11:11:23 GMT -5
Tons of info still coming in. Nothing is in stone at all right now. I think there is still a lot of uncertainty...
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Post by elkuta0380 on Jul 23, 2010 11:11:43 GMT -5
Should we take bets on what happens at 1201p and then by eod? a. They have manufactured this process to make sure everyone wins - market will like it and go up b. The banks are in crappy shape and no one can disguise that fact. Mr Market will see that and dump into eod. What say ye? Quick bounce to 1099 on the dot and sell hard... Would love to see 1099 break. Will go mega-long if it does (and holds)... fun stuff... tick tock tick tock looking right so far... let's see what happens into the close. Still no conviction to break out.
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Post by ukarlewitz on Jul 23, 2010 11:11:45 GMT -5
Zero Hedge is pissed. He wanted every bank to fail and the Dow to go to minus 10,000.
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Post by maxi on Jul 23, 2010 11:12:39 GMT -5
5 Spanish failed one german one greek
So original news was wrong...
7 out of 91 only fail
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Post by cosmic on Jul 23, 2010 11:16:13 GMT -5
I was worried about Finland. Have you ever been? I spent 4 months there back in 1996.
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Post by ukarlewitz on Jul 23, 2010 11:17:20 GMT -5
I thought Portugal would be eliminated in this round. Spain will not like that.
My India holdings sold on this news. I think they are probably not too effected by this, however. Just a guess.
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Post by cosmic on Jul 23, 2010 11:17:23 GMT -5
Zero Hedge is pissed. He wanted every bank to fail and the Dow to go to minus 10,000. Hopefully he had more than a $0 hedge. ;D Durden et. al. and are still short S&P at 856, which they say is 30% above fair value.
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Post by abdogman on Jul 23, 2010 11:18:16 GMT -5
1214 CBES releases results of the EU Stress Test -- 7 banks fail test
The exercise includes a sample of 91 European banks, representing 65% of the European market in terms of total assets, in coordination with 20 national supervisory authorities. It has been conducted over a 2 years horizon, until the end of 2011, under severe assumptions. In total, aggregate impairment and trading losses under the adverse scenario and additional sovereign shock would amount to 566bn € over the years 2010-2010. The aggregate Tier 1 ratio, used as a common measure of banks' resilience to shocks, under the adverse scenario would decrease from 10.3% in 2009 to 9.2% by the end of 2011 (compared to the regulatory minimum of 4% and to the threshold of 6% set up for this exercise). The aggregate results depend partly on the continued reliance on government support for currently 38 institutions in the exercise. The aggregate Tier 1 ratio incorporates approximately 197bn € of government capital support provided until 1 July 2010, which represents 1.2 percentage point of the aggregate Tier 1 ratio. As a result of the adverse scenario after a sovereign shock, 7 banks would see their Tier 1 capital ratios fall below 6%
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Post by ukarlewitz on Jul 23, 2010 11:19:00 GMT -5
I was worried about Finland. Have you ever been? I spent 4 months there back in 1996. Only once, for one day. A funny story. But you go first. 4 months is quite along time. You must have had a few saunas and drank a bit of aquavit.
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Post by cosmic on Jul 23, 2010 11:20:24 GMT -5
IS that horrible? It doesn't seem horrible?
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Post by abdogman on Jul 23, 2010 11:20:46 GMT -5
Dogs and lunch ....See ya soon ...and GL!
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Post by jack on Jul 23, 2010 11:21:05 GMT -5
Tons of info still coming in. Nothing is in stone at all right now. I think there is still a lot of uncertainty... That's what Heisenberg said.
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Post by ukarlewitz on Jul 23, 2010 11:24:37 GMT -5
mvis is now the most boring stock I own. Beta is about 0.2. I might punt on third down.
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Post by cosmic on Jul 23, 2010 11:26:52 GMT -5
Have you ever been? I spent 4 months there back in 1996. Only once, for one day. A funny story. But you go first. 4 months is quite along time. You must have had a few saunas and drank a bit of aquavit. We were in downtown Helsinki, right across from the shipyards. In the middle of winter. You could have taken 'the ice' from the hotel front door to the ship we were building. It was desperately cold, but I still had a lot of my northern blood (moved to SoFla in 1995, this was 96), and I weathered well. Many of my new coworker friends didn't fare as well. The economy was a shambles, and teen suicide was the highest in the world. There were 2 classes, rich and poor. But all the poor worked for the rich, so they decided who was next to get rich. It was a dreadful state of affairs. The largest of employers was the .gov, primarily in the shipworks and of course all the workers were unionized. They were very friendly though, and spoke very good english, whilst I couldn't speak a lick of their language. Ate some of the best food in Europe there though. Had reindeer for the first and only time. Enjoyed aquavit poured on mashed potatoes - sometimes with reindeer. Though my memories of there are fond, my memories of leaving are un-fond. As I taxied down the runway, we rolled past a long line of luggage. The luggage handlers had gone on strike 20 minutes before we departed, and refused to load our bags, so they just left them on the runway. I got my bag 2 weeks later. I've never returned to Finland.
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Post by Dualism on Jul 23, 2010 11:30:59 GMT -5
Sheesh. And I thought you were there for the blondes, booze and the balmy weather ;D
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Post by kryptos2009 on Jul 23, 2010 11:31:17 GMT -5
2nd play on AAPL today
Buy To Open 25 AAPL Jul 23 2010 260.0 Call @ 0.25 (filled)
Also have an open order
Buy To Open 25 AAPL Jul 23 2010 260.0 Call @ 0.20 Limit
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Post by ukarlewitz on Jul 23, 2010 11:32:57 GMT -5
Finland: I worked for a consulting firm in the late 1980s. We were hired by Nokia after New Years. On New Years eve, the CEO had blown his head off with a shot gun. The board was a bit concerned, understandably. Nokia had been a heavy industrial company, making primarily electrical cables and other staid products. The CEO had set about changing the company's focus. One of the businesses we were asked to evaluate was a little thing the late CEO had purchased from Ericsson to set the company on a new course. He then had second thoughts and wondered whether he made a grace error. The new business: mobile phones. It came in and attached to a suitcase and the handset was the size of standard brick. And that's how I ended up in Finland for a day.
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Post by cosmic on Jul 23, 2010 11:34:17 GMT -5
I would have loved to have been there for those 3 days in August ;D
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Post by Dualism on Jul 23, 2010 11:35:43 GMT -5
Finland: I worked for a consulting firm in the late 1980s. We were hired by Nokia after New Years. On New Years eve, the CEO had blown his head off with a shot gun. The board was a bit concerned, understandably. Nokia had been a heavy industrial company, making primarily electrical cables and other staid products. The CEO had set about changing the company's focus. One of the businesses we were asked to evaluate was a little thing the late CEO had purchased from Ericsson to set the company on a new course. He then had second thoughts and wondered whether he made a grace error. The new business: mobile phones. It came in and attached to a suitcase and the handset was the size of standard brick. And that's how I ended up in Finland for a day. Sheesh. And I thought you were there for the blondes, booze and the balmy weather ;D
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Post by cosmic on Jul 23, 2010 11:36:03 GMT -5
Finland: I worked for a consulting firm in the late 1980s. We were hired by Nokia after New Years. On New Years eve, the CEO had blown his head off with a shot gun. The board was a bit concerned, understandably. Nokia had been a heavy industrial company, making primarily electrical cables and other staid products. The CEO had set about changing the company's focus. One of the businesses we were asked to evaluate was a little thing the late CEO had purchased from Ericsson to set the company on a new course. He then had second thoughts and wondered whether he made a grace error. The new business: mobile phones. It came in and attached to a suitcase and the handset was the size of standard brick. And that's how I ended up in Finland for a day. My god that's an absolutely Shakespearean story!
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Post by jack on Jul 23, 2010 11:37:07 GMT -5
I would have loved to have been there for those 3 days in August ;D I think its only fitting since we are supposed to hit 100 today and tomorrow this be played:
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Post by ukarlewitz on Jul 23, 2010 11:40:19 GMT -5
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Post by cosmic on Jul 23, 2010 11:43:17 GMT -5
I had one of those. With the car kit so you could use it in your vehicle. I was a spoiled little kid back then, my dad was a partner in a small telecom company and they were always dabbling in mobile radio, mobile phones, etc.
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Post by jack on Jul 23, 2010 12:00:01 GMT -5
3 candle pull-back on the FAS 10min done - time to rise you MFer!
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Post by ukarlewitz on Jul 23, 2010 12:01:46 GMT -5
I had one in my briefcase. I always knew where my cell was because it weighed about 20 lbs.
The last time investors were moving this quickly out of oil futures, it was when Lehman Brothers filed for bankruptcy. Bets on WTI crude were down 13.2% for the 60 days through July 20. Now: NYMEX crude -0.8% to $78.65.
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