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"Credit Suisse Is Said to Tap 20 Banks for Capital Increase". Link to Yahoo Finance Article
An attempt to drag others down with them? Lash the lifeboats to the railing of the Titanic...what could go wrong with that? O.O!
AMC/GME memes making history, time to pay up. Tick Tock!
IMO/NFA
What Stockman1010101 said. Other way around for the time being. AMC has ownership stake in HYMC.
IMO/NFA
"Credit Suisse Crashes Most Ever After Admitting It Suffered A Bank Run And Breached Liquidity Requirements." Link to Article
"the NYT mocked"...
Hmmm. Tick Tock!
IMO/NFA
Looks to me more like the buying pressure just got shunted to dark pools (only the buying side) to make up the majority of trading trying to control the pressure cooker that's building. Not to mention the 185Million shares on loan now acting as counterbalance holding it down versus where it was in '21.
Tick Tock!
IMO/NFA
Sadly you are correct there. Nothing will change until enforcement or hitting SHFs in the wallet happens...or both.
"And, despite the promise of Congress to reduce the threat of derivatives through the passage of the Dodd-Frank legislation, more than half of derivatives at U.S. global banks remain non centrally cleared today — more than 12 years after the passage of Dodd-Frank."
"This is not some pie in the sky fantasy. Wall Street has a history of blowing up things with derivatives. Merrill Lynch blew up Orange County, California with derivatives. Some of the biggest trading houses on Wall Street blew up the giant insurer, AIG, with derivatives in 2008, forcing a $185 billion bailout. JPMorgan Chase blew up $6.2 billion of its depositors’ money in the London Whale derivatives scandal of 2012-2013. And, according to the Financial Crisis Inquiry Commission (FCIC), derivatives played an outsized role in the spread of financial panic in 2008."
Article-One or More Corporations Will Blow Up from Derivatives along with Global Banks
It's past the time for accountability to rear it's head again...
IMO/NFA
It's spreading. HODLing.
Market Screener-"Bank of Japan to conduct emergency bond buying"
IMO/NFA
"Weeks Away From Whole $hithouse Coming Down" - Holter Warns This Crash "Will Make 1987 Blush"
"Within weeks" narrative just popping up everywhere now... Hmmm.
zerohedge article-"Weeks Away From Whole $hithouse Coming Down" - Holter Warns This Crash "Will Make 1987 Blush"
IMO/NFA
"UK Treasury To Bail-Out Bank Of England's £11 Billion QE Losses"
11Billion?!? Hmmmm.
zerohedge article-UK Treasury To Bail-Out Bank Of England's £11 Billion QE Losses
IMO/NFA
It's Wednesday! Add another data point to the set. Last week was 15 banks with $6B to Swiss. Let's see how many banks and how much $$$ this week and next...
"Next Global Financial Crisis May Be Weeks Away (Here's Why)"
Tick Tock!
IMO/NFA
Edit: Ooooo, 17 banks for $11BILLION this week. Wow! Results of Swiss National Bank US Dollar Auctions
Whoa, look at all those fails to deliver!...again! Seems the market is still having some problems eh? Alphabet/Google plus Amazon plus Apple plus Microsoft still is less than APE and waaaaaaaaaaaaaaaay lower than AMC. Hmmmm.
"Latest Report: AMC Fails to Deliver Hit Over 2 Million"
Tick Tock! Just a matter of when...
IMO/NFA
If buying and holding a stock breaks the system, the system is at fault and the problem. And if the bank/SHF operations strategy ever involves uttering the words "infinite liquidity" or involves getting taxpayer bailouts as an option to use (especially more than once!), the firms deserve to be shut down (voluntarily or forcibly) and left on the trash heap of history for being corrupt and the wrong way of doing business.
Do it fair, orderly, efficiently, transparently (above the table for all to see), and truthfully... or don't do it at all.
Meme Apes are making history and rule changes... and apparently exposing/pissing off corrupt HFs and banks left and right. Ref: Why Biden’s SEC chief is enraging Wall Street
In it for the long haul now... Tick Tock!
IMO/NFA
This is AMAZING to witness! We live in interesting times. If we thought there were alot of naked shorts before, just wait for this push to finish! I can hear the FTD numbers adding another digit already. ROFL!
IMO/NFA
I think the jobs report sealed 75 bp as the MINIMUM. The markets haven't moved as fast as Fed is getting criticism for, so I wouldn't be surprised in the slightest if 100+ bp is on the table for Nov now as the "expected". Remember we're skipping Oct's meeting for "stability". LOL!
But we still need to see how this Central Bank tightening plays out for the next 3 weeks also... that may have some play in this also.
IMO/NFA
I'm more interested with what happens next week AFTER the central bank imposed deadline has passed. I want to see what (if any) hammer the banks use if/when they're ignored and no firms unwind...or can't.
I'll wait...tick tock!
IMO/NFA
Bullpucky. Look at all those 3 and 4 decimal trades in Time and Sales. Look at the 70%+ off exchange trading. Look at the 185M shares on loan. Look at the Days to Cover. Look at the tiny volume in the face of HODLrs. Anyone that says this isn't being manipulated down is either blind as a bat or has a short agenda and trying (desperately) to spread FUD.
Tick tock...
IMO/NFA
Anyone see Triangle of Sadness yet? It's still only a limited release in USA and local theater doesn't have it yet, but I've heard good things about it.
Triangle of Sadness Trailer
But also noted, "No Triangle of Sadness streaming release details have been confirmed yet so the big screen is the place to be." --hitc.com where to watch
IMO/NFA
Agreed. Dude is probably too busy watching shares on loan double from last sneeze and SHFs "Securities sold not yet purchased" soar into the stratosphere just waiting for the bill to come due.
I'll be patient and wait.
IMO/NFA
"For a decade you were able to paper over poor businesses because of favourable liquidity and financing. All that is about to change."--Financial Horse
Let's see how far the falling knife makes it in the doom loop for banks...might be a self-fulfilling prophecy in the making here. I wonder how much more corruption and questionable actions will be exposed when the dominoes start falling and the house of cards comes crashing down...? Maybe even CET1 Ratios in the teens won't be able to stop the loop anymore. Might be time for lenders to recall those shares and ensure they weather the coming storm better. Hmmm?
"As interest rates continue their march up, as liquidity gets tighter, we will start to see more and more “Credit Suisse” start to emerge from the woodwork." Let's (finally) see whose been swimming naked, shall we?
Ref:Credit Suisse “Default” Explained
IMO/NFA
“It’s a global margin call. I hope we survive.”--Asia Times
Your hunting ground is about to be chummed, your feeding opportunities will increase and be plentiful imo.
Shorts relying on collateral and liquidity are looking to get hurt. "bank regulators will force it to sell assets and shrink – but it will also call in collateral from customers"
Happy hunting!
Ref: Global margin call hits European debt markets
IMO/NFA
Not sure where they got that Quadrillion number from but updated data from 30 Jun for the first 1000 banks plugged into Excel is showing $140Trillion for me. Still mind boggling and still a killer number, but not quite the number validation that would make it easy to verify. Or am I missing a sum multiplier for leverage somewhere??? Or US only versus worldwide maybe??? Either way...
ref: https://www.usbanklocations.com/bank-rank/derivatives.html
IMO/NFA
Pure speculative guess, but I'm thinking Credit Suisse might be next domino based on share price actions amongst the banks. If the tracker is correct and the primary world banks were overleveraged to the tune of 2 Quadrillion on derivatives (as of Feb 22) then this is going to be a bank-killing and financial institute thinning-out event. This is soooo much bigger than just some AMC/GME apes buying and holding some stocks...but apes seem to be prepositioned to profit off of it big time though. If the market crashes and shorts make a bundle from other stocks it's probably only going to go in one hand and out the other as they have to buy shares to close; so they tread water but live another day...maybe. Timing of big margin calls and price people are willing to sell will determine that. LOL!
The vatican pulling resources back means they saw the handwriting on the wall. Their deadline was last month, so it's open season starting 1 Oct.
I'll have to pick up another bag of popcorn from the theater. I hope they get the microwave popcorn released to market soon; might save me trips...
All IMO/NFA
Meanwhile in reality, even the layman can see that this dip has been brought to us by around 190 Million borrowed shares on loan with a flat weekly OBV. (and that's just what we can see and is self-reported) During the run up to $72 the SOL wasn't that large, that was just a preview burp, now it's even bigger and wound tighter. MM algos playing ping pong passing the time, but the short bill will come due...when banks want the money and/or lenders want their shares.
Dropping it to a buck wouldn't matter in the slightest if no one is selling...they can't close with the miniscule volume as it is. The days to cover is already at a squeeze inducing length of time (especially during volatile times).
No more bailouts, the house of cards got too big, time to reset is here.
Zen HODLing. Just watching and waiting for the next domino to fall...
IMO/NFA
Central bank problems increasing... Hmm.
"The losses eclipsed underlying earnings of A$8.2 billion and left the central bank with an accounting loss of A$36.7 billion.
It also ate up all the RBA’s reserve funds, leaving it with a negative net equity position of A$12.4 billion. Bullock noted that while this would bankrupt a normal commercial entity, the RBA’s liabilities are guaranteed by the government. “Furthermore, since it has the ability to create money, the Bank can continue to meet its obligations as they become due and so it is not insolvent,” said Bullock."
...yet.
IMO/NFA
Ref:
https://www.cnbc.com/2022/09/21/australias-central-bank-has-equity-wiped-out-by-billions-in-bond-losses.html?&qsearchterm=australia%20central%20bank
Add a 3rd step... Require hard locate and borrow of a share before it can be sold short for ALL parties.
That brings up a good question too. Refresh my memory, when did it hit hard to borrow category? It's been HTB on TDA for a LOOOOOOOONG time now...
IMO/NFA
Unless...the complaints center on the continued abusive, manipulative, and strategic naked short selling within the market structure that have been identified for years and years before now and continue to be an issue. Hmmm?
Seems the complaints have been there since before 2008, but have not stopped thru the 20-teens and into the 2020's despite "regulation". So it stands to reason that the current phenomenon has roots that go back long before the declaration of meme stocks.
ie. The complaints never went away. They just got more visible with meme's.
IMO/NFA
https://www.sec.gov/files/450.pdf
https://www.globenewswire.com/en/news-release/2017/09/08/1114364/0/en/Max-Sound-Files-Regulatory-Complaints-To-Investigate-Alleged-Google-Related-Individuals-In-Manipulative-Trading-Practices-and-Abusive-Naked-Short-Selling.html
https://smithonstocks.com/part-1-in-a-series-of-reports-on-blatant-widespread-stock-manipulation-that-is-enabled-by-illegal-naked-shorting/
Excellent, good find and thanks for posting that! That means someone somewhere is starting to ask the right questions in my opinion. Someone probably is following up on, "Why didn't we know about this sooner?" and "Who has ever reported this before now?" I've worked for IG before and if OIG is digging, that means they are on the breadcrumb trail and will follow it as far as it takes.
Tick Tock! This Popcorn is good!
IMO/NFA
Oops, one more reference I saw... "DOJ is changing the way it prosecutes companies, and it could put more executives in jail"
https://www.cnbc.com/2022/09/15/doj-is-changing-the-way-it-prosecutes-companies-and-it-could-put-more-executives-in-jail.html
IMO/NFA
Interesting. "The U.S. Justice Department said on Thursday it will make it harder for companies to enter into multiple settlements that defer or waive prosecutions" and "Deputy Attorney General Lisa Monaco will also announce planned steps to take to make it more attractive for companies to pay penalties by clawing back executive compensation rather than burdening shareholders".
We'll see if they're serious or not with the outcomes of the hedge funds and banks investigations...
https://www.reuters.com/legal/us-justice-department-crack-down-repeat-corporate-offenders-2022-09-15/
https://finance.yahoo.com/news/u-justice-department-crack-down-202227980.html
IMO/NFA
"Failures to deliver on the actual trade date over an extended period for a ticker that trades at the volume AMC does is not a big deal."
So using that logic... then companies trading the same or less volume, with floats in the BILLIONS (which is waaaaaaay more than AMC/APE) should have the same or more FTDs, right? Nope! Not even close. Not in shear numbers, nor calculated as a % of the float. Something is very wrong here and special in this case.
https://twitter.com/jhuntermav/status/1569839249528352769/photo/1
TLDR: AMC/APE are big time outliers in the data set. AMC/APE are abbynormal!
IMO/NFA
And how many are "normal"? And how many before they become "excessive" and "abusive"? Hmm? ROFLMFAO!
Let's see if there really is an outlier in the market and compare to other securities... Hmmm?
IMO/NFA
And if we thought AMC was high with 9,691,955 FTDs over two weeks, take a gander at APE with 129,525,091 FTDs over just 6 days!
Talk about a new score in corruption and incompetence of the system! Wow!
IMO/NFA
Good lord, just look at those FTD numbers for APE now too! ROFL!
https://www.sec.gov/data/foiadocsfailsdatahtm
IMO/NFA
How much proof do you want, don't want to overload you too quickly. ROTFLMAO! Here start with this one video from #110071.
"…the system wasn’t fixed from the last crisis and prison cells aren’t occupied by those responsible. The last crisis was Wall Street getting bailed out by Main Street, the next crisis needs to be Wall Street paying back Main Street…plus interest.
Wall Street Conspiracy Movie Link
(https://archive.org/details/videoplayback_20210423) "
IMO/NFA
Did you read thru the rest of the document below what that video highlighted? Holy crap, I see that they're worried about a member defaulting but what they left out was that the OCC already has up to $8 BILLION available to cover a problem! So they foresee a problem, or problems, exceeding $8B+ bleeding over into OCC risk assessment area because they failed! OUCH!
IMO/NFA
Right up until everyone takes their ball and goes home... and then everyone chooses to invest locally instead.
IMO/NFA
They put in the name of the file "BS_Only"???
IMO/NFA
While we wait…For anyone that hasn't seen it yet, here's a great movie describing the financial terrorism conducted in the past. Even though it's from 2012 and describes problems as far back as the 90s, there may be some strategies used and organizations named one might recognize in present meme problems like AMC/GME.
If anyone wants to know why apes are mad enough to HODL til the system breaks again, this gives a good start to understanding…the system wasn’t fixed from the last crisis and prison cells aren’t occupied by those responsible. The last crisis was Wall Street getting bailed out by Main Street, the next crisis needs to be Wall Street paying back Main Street…plus interest.
Wall Street Conspiracy Movie Link
(https://archive.org/details/videoplayback_20210423)
All IMO/NFA
Quotes that stood out:
Each crisis is going to get worse. (Recessions)
They could stop it tomorrow, simply by requiring that a person borrow the shares before they sell them, the end. (hard locate)
Without a congressional mandate, which will not come until there’s a grassroots mandate from the People, it’s not going to change. (Redditors)
We’ve lost control of our system. If that’s the case, what can we see down the road. We’ve got to see not evolution of the society; correcting new problems as they come in. I think we’re going to produce the situation…we’re going to see a revolution. (Apes)
“In many respects our financial system is unchanged from the eve of this (2008) crisis. We believe much more needs to be done. There were warning signs, the tragedy is, they were ignored. The crisis was avoidable, the crisis was a result of human action and inaction, and it could happen again if we do not learn from history.”-Chairman Phil Agelides FCIC 2011
If 3% failure rate is applied to the nuclear industry of the USA that means that "ONLY" 3 (rounded up) nuke plants melted down this year within the current 92 commercial plants. If we talk about nuclear weapons at 3% failure then "ONLY" 113 cooked off in the silos, storage, subs. If we talk the stock market with it's $12.7 Quadrillion trading per year you are talking about $38.1 Trillion in losses.
All examples above are NOT acceptable levels of failure imo. You might be accustomed to that kind of failure, but that's just dismally horrible in my perspective.
When 97% isn't acceptable enough.
IMO/NFA