Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
The very next post below Jessies' is from Tyler Durden of Zero Hedge fame:

SPY Have Become Hard To Borrow

Developing story: Traders confirm several locations indicating SPDRs are no longer automatic borrow and have made their way to the Hard To Borrow list: pre-borrow call is needed versus automatic short prior, as not enough underlying inventory.

Have fun hedging the market when you can not short. Wholesale market squeeze is being orchestrated.


next step - bidless (and offerless) market. A good analogy would be trying to sell Helmlsey Manor in West Palm Beach. Then again, a 200 point drop in the market on bad news (once they come) from 855 will be less bad than from 755. Even DC is taught simple subtraction.

Looks like the market is going to jump off a tall building.  Hey, all of the parachutes and trampolines have already been bought up!  Wouldn't want Joe Schmo profiteering, now would we?  Well, I guess one could always short the big financials.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Apr 23rd, 2009 at 12:01:44 AM EST
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I'm back to shorting the financials. I went in too early (as in I'm down a bunch at the moment) but I'm not worried at all.

you are the media you consume.

by MillMan (millguy at gmail) on Thu Apr 23rd, 2009 at 01:48:39 AM EST
[ Parent ]


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