FAZ further update

CS and UBS raise JPM.  Mixed  opinions on WFC with Oppenheimer down and Morgan Stanley up.  Pre-market Faz near  22 and giving up a large part of Friday’s move.   A  bid  below 22 and below where I got in last week beckons. No rush,  we did drop 130 plus DOW points on Friday,  much of that is getting taken back pre-market as slow Monday program shenanigans continue.  For instance, see oil and gold open down and recover most of that already.  Euro-yields must be falling as I see the CAC and DAX making large moves. Fake-out and/or another boring day?

David Walker on CNBC talking about the largest US – treasury bond holder being the Federal Reserve. By extension I auppose that makes some subset of the troika the largest holder of European bonds. How long can the major economies of the world keep financing themselves this way ? And if taxmageddon is really coming, and capital gains taxes might rise, what is the incentive NOT to book gains as this year ends?

Better than FAZ is  a C play, who came in with light earnings, volatility drops as the stock pops undeservedly.

I really have no comments to make on Apple and Priceline.


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