Chilling and cruising
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ooo damn I bought DEC P instead of W P. I thought that was W P no wonder it didnt move at all
LicharTin
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Thursday, December 08, 2011 10:22:28 AM
Re: None
Post # of 60969
in SLV 30 W P 10 at .53
my $GOOG didnt even move up at all, damn. should have got SPY or VXX
I believe in BCCI future, as long as I dont see any dilution then we good but remember to take a profit and buy back in on the dip to double up my size all IMHO
The newest Baristas will be on the corner of a parking lot
agree bud!
look like OTC getting some love again
yea I thought so too, thats why I bought puts on $GOOG instead of $AAPL but $GOOG refuse to go down. would love to see 620 break
obama on air now
$AAPL and $GOOG still refusing to go down..
lol I bought MTG 5 Dec calls when the price was .00x.01 and now .03x.06, but I only bought 25, should have bought more..
Economists React: No Silver Bullet From ECB
The ECB said in its monthly policy remarks Thursday that it will make two offers of unlimited 36-month credit to euro-zone banks; will cut its reserve requirement for commercial banks to 1% from 2%; and will widen the pool of assets it accepts as collateral for ECB loans to ensure easier access to funds for banks. It also cut its key rate to 1%, but stopped well short of giving any commitment to increased purchases of government bonds. Below, economists react:
While the ECB met expectations of a further cut in interest rates and greater support for banks today, it shattered hopes that it is about to fire a silver bullet into the heart of the debt crisis. … the President appeared decisively (indeed, almost aggressively) to rule out any substantial expansion of the ECB’s bond purchases, something the markets and many commentators had come to see as almost inevitable. – Jonathan Loynes, Capital Economics
[W]e think it is very possible that the ECB will take interest rates down further and expect to see a 25 basis point cut to 0.75% in the first quarter, very possibly in February. Furthermore, we think interest rates could well come down to 0.50%. This reflects our belief that the ECB is likely to see economic contraction through to mid-2012. – Howard Archer, IHS Global Insight
[W]hile the cut in rates today was expected, let’s not lose sight of the big picture – few would have forecast before he took the job that the new ECB President would have delivered back-to-back rate cuts at his first two meetings. .. Moreover, the non-standard measures announced today went beyond expectations … The Q & A revealed that the decision to cut rates was not unanimous, however, unlike in November. A 50bp cut was not discussed. This suggests that the bar for another rate cut is higher than it was for the latest move. – Ken Wattret, BNP Paribas
The economic assessment remained downbeat, and we see a strong likelihood that the next set of staff macroeconomic projections – due to be published [in March] will be revised down further. … Overall, if our projections hold true, then the Governing Council will continue to be surprised on the downside concerning 2012 activity, and so will continue to lower the policy rate in Q1 (our baseline is still 25 basis point reductions in January and February). – Barclays Capital Research
http://blogs.wsj.com/economics/2011/12/08/economists-react-no-silver-bullet-from-ecb/?mod=wsj_share_twitter#
there u go SLV nLODs
8:10 am PST. Central and Eastern European Currencies Held Hostageby Clare Connaghan
Yet again, currencies in central and eastern Europe show that they are held hostage by events in the euro-zone. This region stands to lose more than most if euro-zone politicians and policy makers can't come up with a comprehensive solution to solve the euro area crisis.
Disappointment that the European Central Bank seems to have chosen not to join forces with the IMF on a crisis resolution fund, and that it's shying away from heavy-hitting bond buys, have sent currencies like the Hungarian forint swooning.
Since August, the region's currencies have sold off aggressively as escalating euro-zone debt worries prompted investors to fold their bets in the region on a colossal scale. The currencies picked up somewhat in the last two weeks, as flighty hopes of a solution rose. But now, we’re back in selloff mode.
The euro has rocketed from under HUF301 to over HUF304 since ECB chief Draghi disappointed overblown expectations for the ECB to save the day. The zloty is following a similar downward path.
Investors have already scaled back positions on these currencies markedly. The chance of them diving back in before the start of 2012 now looks very slim.
SLV will go for nLOD IMO
8:02 amECB: No Silver Bullet
Capital Economics’ Jonathan Loynes says in a note following Draghi’s press conference.
“While the ECB met expectations of a further cut in interest rates and greater support for banks today, it shattered hopes that it is about to fire a silver bullet into the heart of the debt crisis. … the President appeared decisively (indeed, almost aggressively) to rule out any substantial expansion of the ECB’s bond purchases, something the markets and many commentators had come to see as almost inevitable.
Q&A: ECB’s Special Measures Made Easy
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By Alen Mattich
Associated Press
ECB President Mario Draghi
The European Central Bank cut its key market interest rate by a quarter point and announced a series of special measures at its monthly policy meeting on Thursday. The measures included a move to allow banks to use a wider range of assets as collateral to raise cash from the ECB or national central banks. Here, we explain what this means.
Q: What happened?
A: Following the European Central Bank’s quarter point cut in its key policy rate to 1%, its president, Mario Draghi, announced a series of so-called “nonstandard” measures to kick-start credit creation in the euro-zone. These include two long term refinancing operations running 36 months, with an option of repayment a year later.
The ECB also reduced the minimum threshold for some asset-backed securities to a single A credit rating from triple-A The individual national central banks within the euro-zone will be allowed to take bank loans as collateral.
Decisions to relax collateral requirements were expected as, broadly speaking, was the decision to offer longer refinancing operations. But Mr Draghi also pulled a rabbit out of the ECB’s hat, cutting the reserve ratios required of banks by half to 1% from next month.
Q: So?….
A: In effect, the ECB is trying to turn the liquidity fire hose up so that some money manages to trickle through the euro-zone’s banking blockage and into the real economy.
Q: But the ECB has been pumping tons of money into the system…
A: Yes, the monetary base has nearly doubled since 2006 and is now about as high as it has been since the financial crisis. The problem isn’t so much that commercial banks haven’t had access to central bank liquidity, but they haven’t been lending it on. In the lingo, the transmission mechanism is broken.
Q: I know a good place to get a new clutch…
A: If only it were that easy. European banks don’t want to lend to each other, much less to households because they’re not confident about the state of their own balance sheets, never mind other banks’, and they’re worried about having to take losses on new loans if, say, the euro should fall apart. The result has been a sharp slump in broad money supply growth, including money banks lend out and other forms of credit. In October, annual M3 growth fell from 3.0% to 2.6%, which is well down on the 6% or so growth characteristic of more normal times. Although lending to firms picked up a little bit on the year to October, it was running at about a seventh of the rate during the 2007 peak. Meanwhile, annual lending growth to households dropped to a 19-month low of just 2.2% in October. These numbers are from Capital Economics.
Q: Isn’t it really that Europeans don’t want to borrow?
A: In part, yes. Fear about the future makes people reluctant to take on debt or to deal with banks at all. In Greece, for instance, it’s got so bad that people have been pulling their savings out of banks for fear that the country will leave or be forced out of the euro-zone and they’ll end up with a fast devaluing new drachma. More generally across the single currency region, banks reported a net decline in loans to nonfinancial firms during the third quarter for the first time in more than a year. Demand for mortgages and consumer credit also fell. But a lack of demand isn’t the only problem. There are also signs that people and firms that want access to credit can’t get it.
Q: Oh?
A: The latest ECB bank lending survey showed that banks operating in the euro-zone significantly tightened their lending standards during the third quarter to both firms and households. What’s more, banks expected to further tighten lending standards during last quarter of the year.
Q: So relaxing collateral requirements and extending the borrowing period and cutting the reserve ratios will get more credit to households and firms?
A: The ECB figures it can’t hurt. Central banks are concerned about a “collateral crunch” which is to say banks running out of good assets they can exchange for liquidity. Earlier in the week, the Bank of England announced a new facility called the Extended Collateral Term Repo Facility allowing banks, when needed, to use a broader set of collateral to make sure banks have access to liquidity. The ECB’s move to allow lower rated ABS and bank loans broadens the already extensive range and quality of collateral it allows commercial banks to use to raise cash from the central bank. This should keep banks from having to pull back on lending during this rolling crisis. At the same time the lower reserve ratio means banks in theory can lend more.
By making banks more confident of being able to get funding for longer periods on easy terms, the ECB hopes they will be encouraged to make a decent spread by then passing this money along to borrowers.
Q: Will it really work?
A: To a large degree, banks’ willingness to lend is out of the ECB’s hands. It does what it can, but it is limited by its charter and by the political situation in the euro zone. Unless politicians come up with a clear and believable agreement to sort out the sovereign debt crisis infecting the region, the ECB will fail. And ultimately that probably means an agreement on how best to organize debt restructuring across the periphery.
Q: Isn’t quantitative easing the solution. Is this QE lite?
A: Nope. It’s the ECB’s way of encouraging banks to lend, or at minimum from pulling back from lending even more. QE tries to pump money into the system by circumnavigating the financial sector blockage through direct bond purchases.
Q: But the ECB has been buying bonds…
A: Yes, but not really as a form of QE. QE is outright unsterlilized purchases of government bonds like the Bank of England and the Federal Reserve have been doing. It is thought to be a useful mechanism for allowing monetary policy to get around the banking sector blockage.
Although the ECB has been buying sovereign debt from across the euro-zone periphery to try to ensure these markets remain orderly, it has been offsetting these purchases with sales of other debt, keeping the monetary effects broadly balanced.
The Fed and the BOE have just been buying from pension funds and other large investors, relying on the fact that these institutions will have to put the money to work by buying other assets. This should increase the flow of money into the system and push down yields across asset classes making people feel richer and therefore more likely to spend their money. But the ECB has avoided doing the same–some say because it is prevented from doing so by legal restrictions, though others disagree. In any event, it hasn’t pursued U.S. or U.K.-style QE.
Q: Doesn’t the ECB want to do QE?
A: No. Or at least not according to Mr Draghi. Various rumours have been kicking around about the ECB doing unsterilized bond purchases, or of getting around the law preventing this by lending to the IMF after which the IMF would do the bond buying on behalf of the ECB. Mr Draghi more or less put a stake through the heart of this one. Not only did he emphasize that the ECB is prohibited from monetizing debt, he said the ECB would keep to the spirit as well as the letter of the ECB treaty.
Q: But isn’t the ECB’s reluctance to act because inflation is running well above its “whisker below” 2% target?
A: It’s true that the ECB was worried about inflation earlier this year and it’s true that consumer price inflation has been running at 3% for the past three months and has been above 2% for the past year, but the ECB’s concern now is what happens over the coming 12 months. Purchasing managers’ surveys, industrial production data, consumer confidence and spending numbers from across the region generally suggest the euro-zone is heading towards recession. Indeed, general nervousness across the euro-zone economy, not to mention government belt-tightening, are setting up a long-term recession. Citi is pencilling in six quarters of real GDP contraction in the euro-zone, a longer spell than any even Japan suffered during its lost decades. Recession will push up unemployment and push down core inflation rates, though food and energy prices could spike. Mr Draghi thinks inflation will come down over the coming months.
chart Bottomed, reload time IMO.
in SLV 30 W P 10 at .53
SPY nLODs again
in $GOOG 600 W P 10 average .30
nope, I sold it for 70-100% profit. damn lol
yea gotta wait for a little bit, market going up and down now
WSJ live blog:
6:26 amNo Channeling of Moneyby Brian Blackstone
Mario Draghi rejects idea of ECB channeling money to governments through third parties like IMF or EFSF.
"No matter what legal trick...what matters is the spirit" of the ECB's charter forbidding financing of governments, he says.
Markets might not like it, but will sit well in Germany.
6:24 amMerkel: We Will Find a Solutionby William LaunderAdd a Comment
German Chancellor Angela Merkel Thursday said she was confident euro-zone leaders would succeed in boosting integration within the currency bloc at an upcoming high-stakes summit aimed at thwarting the debt and banking crisis.
Ms. Merkel said the euro currency had made euro-zone countries stronger since its creation, but warned that flaws in its construction, such as budget oversight and competitive practices in different countries, needed to be addressed.
"We must signal externally that we are making a binding commitment. Words alone aren't enough because we haven't always stuck to words," Merkel said, reiterating calls for treaty changes.
Speaking at a conference of the center-right European People's Party in Marseilles, Merkel said Germany is open to all 27 European Union members participating in plans to boost fiscal integration, rather than just the 17 countries that make up the common currency bloc.
wow $AAPL lucky I sold almost all of my AAPL calls, wtf is happening lol
BCCI I bought back in at .104 20k for starter
bought back in today 20k for starter
$AAPL sold 5 400 W C at .43, holding 5 left ($200s) till tomorrow or expire.
lets see if I can turn my $200s to $1k-$2k Good luck guys, Gotta go
thanks gotta lock some profit
$AAPL 395 W C sold at 1.21 from .96, still holding 1/3 (10) of my $AAPL 400 W C
if we close green then this morning dip was a gift
in $AAPL 395 W C 5 at .96
sold 20 of my $AAPL 400 W C at .34, holding 10 left
weekly or monthly calls?
added $AAPL 400 W C at .26
Bought $AAPL 400 W C average .24
still bullish on NFLX? or time to buy puts?
Perfect! Still need to learn more about option. My timing still off