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UYG posts

Caution: Dangerous Week Ahead

Posted Apr 13th 2009 3:40PM by Todd Harrison (RSS feed)
Filed under: Forecasts, Google (GOOG), Intel (INTC), Citigroup Inc. (C), JPMorgan Chase (JPM), Goldman Sachs Group (GS)

This post was written by Minyanville contributor James Kostohryz
I believe that the market is currently poised in a binary position.

Better than expected earnings and/or guidance by the major banks and/or other major companies this week could send the S&P 500 flying past its 200 day moving average triggering a wave of long purchases and short covering (note that short interest has been rising sharply in the past few days).

On the other hand, disappointment from any of the major financials such as Goldman Sachs(NYSE:GS), JP Morgan (NYSE:JPM) or Citigroup(NYSE:C) and/or major companies reporting this week such as Intel (NASDAQ:INTC)or Google(NASDAQ:GOOG)could send the market reeling into a quick 10% correction.

Here is my baseline view of the week, subject to change at any moment.

Continue reading Caution: Dangerous Week Ahead

Hedge Fund Apocalypse: Massive short squeeze on Citi could wipe out dinosaur funds

Posted Mar 19th 2009 4:40PM by Alex Salkever (RSS feed)
Filed under: Bad News, Rumors, Short Stories, Citigroup Inc. (C), Money and Finance Today, Headline News

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While Ben Bernanke's announcement that the Fed was buying Treasuries and sucking up bad mortgages was the cosmetic reason for financials to soar, an equally compelling reason may have been the massive but little-noted short squeeze that the announcement, combined with large government purchases of stakes in these companies, engendered.

Continue reading Hedge Fund Apocalypse: Massive short squeeze on Citi could wipe out dinosaur funds

Options Update: Proshares volatility decreases as prices stabilizes

Posted Jan 2nd 2009 8:35AM by Paul Foster (RSS feed)
Filed under: Options

Proshares UltraShort Real Estate (NYSE: SRS) closed at $50.71 Wednesday. SRS seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Real Estate Index. SRS January option implied volatility is at 140, below a level of 180 from mid December. February volatility is at 137; above its 26-week average of 129, according to Track Data.

Ultra Financials ProShares (NYSE: UYG) closed at $6.03 Wednesday. UYG daily investment results correspond to twice the daily performance of the Dow Jones U.S. Financials Index. UYG January option implied volatility is at 91, below a level of 118 from last week; March is at 109 according to Track Data, suggesting March movement.

Powershares DB Multi Sector Commodity Trust (NYSE: DBA), a rules-based index consisting of agricultural futures contracts, closed at $26.18 Wednesday. January option implied volatility of 43 is near its 26-week average of 41, according to Track Data, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com