China’s factory sector shrank in November for the first time in nearly three years, an official purchasing managers’ index (PMI) showed on Thursday.
THE latest Economic Outlook from the Paris-based Organisation for Economic Co-operation and Development says that the global economy has deteriorated significantly and warns that international trade growth has weakened.The organisation’s latest forecast sees trade growth for 2012 slowing.
Based on the BAC long calls and the ECB action today, was the news leaked? Who was buying the calls.
Home prices dropped 0.6% in September to rise just 0.1% for the third quarter, according to the S&P/Case-Shiller 20-city composite home price index released Tuesday. The home price slide was 3.6%, year-on-year.
Treasury sells 7-year notes at lowest yield ever, 1.415%.
A number of new (and old) stock picking services are brought to our attention most every week. We coined the term “wreck-o-mendations” because of the severe portfolio damage they can do.
Click here for more of a discussion …
In any event, we are following a number of put selling trade recommendations with Dec 2011 expirations started last week. EVERY one is already in-the-money and we aren’t even in December yet!
As a reminder, selling naked puts is effectively being long the market and therefore comes with substantial risk especially in a down market that many believe has crash potential.
HSBC reports initial “flash” reading of its China manufacturing survey fell well below forecast to a reading of 48.0 for November (contractionary). October was a mildly expansionary 51.0 reading.
Treasury sells 5-year notes at lowest yield ever
Mario Monti Italian prime minister
IMF European manager Antonio Borges
MF Global’s John Corzine
CDU votes to allow Euro exits, but they voted down weighting according to relative economic size.