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Lennon tried to pull a fast one "Thomas F. Lennon, Court-appointed permanent receiver for Tuco Trading, LLC ("Receiver"), hereby gives notice and corrects his Final Fee Application for Approval and Payment of Fees and Costs to Thomas F. Lennon, Receiver, and supporting documents. On or...

You couldn't be more right. Its funny how we didnt hear much from these 'there is more room in this rally' in the huge short squeezes of 2008, they all failed. Where were the folks bragging how they are so good in predicting when there is 'more room'?You would think ET is full of architects by...

"Paulson has told journalists that during a transatlantic phone call the chancellor said he was not prepared to import the American 'cancer' into Britain – something Darling strongly denies." This doesnt sound like a lie, who lies like this?

http://www.zerohedge.com/article/rate-hike-expectations-plunge-581-15-first-time-ever-some-anticipate-negative-fed-fund-rate

Rosenberg todays letter give a pretty good idea of the current level of slack in the labor market. What the market is thinking when it implies an almost 2% libor through eurodollar futures for Dec 2010 is beyond me. Same thing with financial stocks such as JPM trading at 15x forward estimates...

Job losers "Not on temporary layoff"(permanent job losses) 52.6% of losses http://www.bls.gov/news.release/empsit.t08.htm At this point a jobless recovery might be a done deal

Guess he's been talking with his 'friend Ben' http://www.bloomberg.com/apps/news?pid=20601068&sid=aGITBxp7UULE

Heres the thing I have no problem whatever with going long garbage as a long the thesis is based on short-term trading. The reason I dont do it its because I just see as the odds being pretty bad to do that at these levels If I try to play the otherside I will be saying I can predict when...

There was a U6 back then too. It reached 45% IIRC

Labor force only rose 73K. So this UR move is real people losing real jobs. Hourly earnings went up on minimum wage hikes. Hours worked is flat, hours is supposed to be a leading indicator for the labor market, and its just one tick from the all-time low. Looks like a pretty bad report

9.7% UR. This should lead to a new round of sanity by forecasters as they stop being pussies and come out of the "10%" closet. 10.5% is probably conservative

Thats because I dont always count on having monster high beta rallies to bail me out my longs in bankrupt companies Look, check back in the journal I went long XLF one day before short sales were banned because the market was oversold. I made 20% overnight, do I go around patting myself...

What is Jim grant track record of picking market bottoms and short-term trading(Which is what you are congratulating him on)?One of the best market timers I know consistently got this bear market wrong because it would get FAR more oversold that what history suggested. So I bet if Grant had gave...

Notice Greenspan hiked rates in 1994 with falling inflation. He wanted to get ahead of the curve and was playing a 'new strategy' with the FOMC of antecipatory hikes(Mentioned the 'relative tranquility of the situation' as a reason to play around). Well in 2004 it was just the opposite, he...

The CPI might actually be on the more positive side as the effects of yoy commodity minibubble comparisions are played out. So its possible it will turn up earlier as commodities stage run ups in 2010. The thing is, everybody knows the fed doesnt give a shit about commodities Plus we seem to...

Heres an strong argument for 'Fed stays low for longer' this one is actually devastating and might be the best one yet its the simpler. The Fed will only raise rates with rising inflation! Can anyone in their right mind argue that the fed hikes with CPI negative and core CPI close/below 1%...

It looks like my caution of waiting for 980 SPX to be broken might have saved as the dip is getting bought, usually when I throw caution out of the window by not waiting for these sorts of technical weakness(usually the result of being too confident) it has cost me money. This time I avoided the...

Well, I dont know much about the Jim Grant the trader, it seems that everytime I catch him on bloomberg or CNBC he is ranting about the government and that doesnt make me money. As far as MTG goes, he might as well have named you any garbage stock and you would have made a ton anyway, they are...

One more argument for 'CBs stay low for longer', courtesy of Pimco The chart that CBs have kept rates lower than what the 'Taylor rule' advised on this decade. This happened because inflation rates had came down quite a bit in the last 20-25 years so they wanted to remove tail risks of...

this is just noise, still confident we see 600 before 1000, hoping i get a great fill at 999. i see no way im not right best, surf