Team 1250 Strikes Back

Thursday, September 11, 2008

So BOA is the white knight who will save Lehman (ed. note: with whose money?). It looks like Team 1250 let a few friendly folks know beforehand. Macro Man hopes they remembered to ring Bill Gross so he could sell protection on Lehman and ring up another record day.
Does anyone know the code for Romanian stock index futures? Macro Man needs to find a less corrupt market....

Posted by Macro Man at 9:45 PM  

23 comments:

Yep they got me too. The same thing happened last Friday, at about 11:00 am NY time, long before the GSE schtick was announced. Stocks, bonds, even currencies--a few big boys knew. On a day when we print 6.1% unemployment, 10s sell off 3/4 point all of a sudden? I don't think so.

Steve said...
10:03 PM  

Agreed. But imminence of a kind of bail out was what was keeping the equity away from falling 4 point. Shorts geet nervous facing the risk of a another relief rally, and longs can hope for better exit levels. It's a classic buy rumor sell fact situation. I still like the short side. Relief rallyes get shorter each time.

sick trader

Anonymous said...
10:16 PM  

I did not think of Team 1250 until I read your comment. Sounds right. As always, thanks for the analysis and insight.

Anonymous said...
10:28 PM  

In an 11pm drunken London pub type scene...

MM just leave it, Bill Gross just isn't worth it man.

Anonymous said...
10:39 PM  

Does anyone know what is behind the sudden USD surge that started at approx 1655 NYT (2155 London). Against the euro it has moved in a straight line from 13930 to 14040 in half an hour.
Could this also be related to team 1250?

Chanakya said...
10:41 PM  

Although not done much to the after hours stock price - closed at 4.22 now 3.90..

More importantly will the UK have a relief rally tomorrow?

Anonymous said...
10:42 PM  

More importantly will the UK have a relief rally tomorrow?

Does the pope wear a funny hat?

Does a bear sh-t in the woods?

Does the CEO of PIMCO have a dodgy 'tash?

Is J-C Trichet an exceptionally annoying git?

I think it's time for bed...

Macro Man said...
10:52 PM  

I can't help but notice, though, that LEH is trading at 3.35 afterhours, well below the low of the day.

Maybe there's hope yet that the market does to Team 1250 what's it's done to Team KGB: say YOURS

Macro Man said...
10:56 PM  

Does Lehman see a marriage ring every time someone takes their phone call?

We understand that there are quite a few funds holding the common shares and preferred debt heavily, but this may be getting a little out of hand. That ramp up of the financials ahead of the leak was rather heavy handed.

More to follow as it comes out, but for now as always, more questions than facts. At some point the rumours may be true, but the deterioration in standards of transparency and honesty in our financial system is odious, and the decay of the notion of stewardship in general in the U.S. is becoming appalling.

http://jessescrossroadscafe.blogspot.com/

Your not alone Macro Man.

Anonymous said...
1:09 AM  

this has been addressed only a bit by the econo-blogsphere world but Russell 3k broke a long-term trendline (log scale) dating from Aug 82 to Oct 2002.

If Team 1250 goes the way of the little Dutch boy, next stop looks like the Sept 2001 lows.

As always, YMMV.

Anonymous said...
1:46 AM  

MM - does it have to be Rumania ? The WEF just came out with it's worldwide Financial Development Report evaluating all the world's countries and financial markets for "quality" and I'm sure you could find several alternatives: http://tinyurl.com/4o5nho

dblwyo said...
1:58 AM  

It's 911 and markets must go up. Sadly Big Picture has defected to the fame side. There are only a few reliable traders left now. Thanks MM for much wisdom and insight.

dd said...
2:09 AM  

Staff stand in a meeting room at Lehman Brothers offices in the financial district of Canary Wharf in London September 11, 2008.

http://www.reuters.com/news/pictures/articleslideshow?articleId=USN0927996520080911#a=2

jill said...
2:10 AM  

Macro Man, can you explain to a bond newbie the meaning of "Team 1250"? I'm guessing a government address reference (maybe a member of the Plunge Protection Team), but I don't know what's at 1250 (???) Avenue.

At least I got the Maiden Lane LLC reference when the Fed shoved Bear Stearns' garbage into it...

Happily long TLT (US iShare of 20-30 yr Treasury).

Anonymous said...
2:42 AM  

Re. 1250, check the chart on the S&P
500. In fact, look a today's close...

Anonymous said...
3:35 AM  

To last anonymous commentator:

Regarding 1250 close on S&P, what in particular should we be looking at/for?

Anonymous said...
4:21 AM  

S&P 500 closed regular trading at 1249 today. I believe MM refers to the PPT when he talks about Team 1250. If I'm mistaken, I apologize.

Anonymous said...
4:41 AM  

What a crappy day...!

Long LEH - Sohrt DOW30 said...
6:51 AM  

as suspected, it looks like EURJPY put in the 5th consecutive MM-patented "Satan's Finger" pattern yesterday, thus generating the much feared "Satan's Fist"...right in time for the weekend...ughh...

E

E said...
7:17 AM  

Anon...Team 1250 refers to the fact that they break out a new policy initiative (75 bps cut, Bear bailout, short-selling restrictions, GSE bailout, and now brokering a LEH sale) every time the SPX trades below 1250.

I can't help noticing, though, that the time intervals between the policy initiatives is growing shorter and shorter.

Macro Man said...
7:39 AM  

The US isn't anymore that country of liberty and free market it used to be, it is now lead by corrupt policy makers and corrupt establishment and central bankers. The President and his team, the treasury, the Fed all are totally corrupt. And what are the SEC and CFTC doing? Joining the club!

pej said...
9:10 AM  

Doping is a serious matter, both in sports and in global markets :(

AT

Anonymous said...
9:16 AM  

future? SSSR of A - stands for Soyuz Sovetskikh Sotsialisticheskikh Respublik of America ....

Anonymous said...
4:36 PM  

Post a Comment