Dan Hachey’s Reading List

May 27th, 2009 – Comment

I have sent out charts in the past showing the bulge bracket dealers’ prop trading up significantly (GS up 7x, only 6 last week though, and agency commissions way down across the board)…so all of this buying in such a huge rally, the biggest since the 30′s (remember that raging bull market?), where does it […]


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I have sent out charts in the past showing the bulge bracket dealers’ prop trading up significantly (GS up 7x, only 6 last week though, and agency commissions way down across the board)…so all of this buying in such a huge rally, the biggest since the 30′s (remember that raging bull market?), where does it come from?

Well Rick Bensignor of Execution LLC provides a good glimpse of today’s market action. As he says after speaking to a number of trading desks:

The market is up 2.75% percent and sell-side trading desks are completely dead. You’ve got computers doing all this buying.

Fast forward to minute 2:14 of the following clip…

http://www.cnbc.com/id/15840232?video=1133459922&play=1

Anybody who still does not understand the serious implications with respect to case law, creditors, and investor confidence that the Chrysler bankruptcy fiasco represents need simply to watch this video… Indiana Takes on Chrysler….

http://www.cnbc.com/id/15840232?video=1133643470&play=1

Options Traders are betting on big Drop in Oil Price…

http://www.bloomberg.com/apps/news?pid=20601109&sid=apz4jqEt6Ll4&refer=home

Here’s the May 14 article where Nobel Prize-winning economist Paul Krugman states that the world economy faces near-stagnation for 10 years because of rising unemployment in the U.S. and Europe

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aLvon87t7wmM

What stocks are included in a “hedge fund master’s portfolio”

http://www.mebanefaber.com/2009/05/26/hedge-fund-masters-2/

Comodities and the $US

http://vixandmore.blogspot.com/2009/05/chart-of-week-commodities-and-dollar.html

Again, unemployment, in this instance, a leading indicator?….Stocks vs Unemployment (actually vs U6 underemployment)

http://blogs.reuters.com/felix-salmon/2009/05/25/chart-of-the-day-stocks-vs-unemployment/

WaPo: Fed will have to choose between propping up credit markets today and fighting inflation tomorrow…
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/25/AR2009052502409.html

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