Wednesday, November 21, 2012

A Thanksgiving Quiz

1. Thanksgiving is 

a) A time to remember and give thanks for coming through dark times. 
b) A time for family.
c) A time to make wide prices and ram stops. 
d) A time for pretending you are an American even if you aren't and going to lunch all day.

2. Turkey is 

a) Better if basted in butter and herbs 
b) My book this year. 
c) Trading 160bp  over US 10yr  
d) The home to amusing sounding companies such as "Arcelik" 

3. Cranberries are 

a) Used to make a sauce to accompany the Thanksgiving Turkey. 
b) A 1990's Irish music group.
c) A euphemism for irksome troubles in one's derriere 
d) The names of the next regulatory packages designed to straight-jacket finance.

4. Stuffing is 

a) Sage and onion.
b) What I am getting in long vol positions. 
c) What HP is accusing Autonomy's books of containing.  

5. Pumpkin Pie is 

a)  A pie consisting of pumpkin based custard. 
b)  A mathematical constant used for working out the volume of pumpkins. 
c)  The code name used when describing the efficacy of cancer treatments to non-specialists.
d)  A term employed by males to address their spouse just before supplying an implausible excuse for malfeasance. 

6. Black Friday is

a) Something to do with shopping on which all retail hopes lie.  
b) A large stock market crash.
c) A technical signal involving eclipses.  
d) How you feel after Monster Thursday Night.

7. A Thanksgiving Parade is 

a) A parade that features a variety of floats and marching bands.
b) Best watched on TV whilst vegging out. 
c) A sly bit of department store marketing.   
d) Mr Stupid charging around the dealing room punching the air screaming "Yes, Oh yes" claiming genius after a random event yields him a profit.

8. Thanksgiving Football matches are

a) A traditional activity giving families an additional  focus to their day. 
b) Not Soccer
c) The EU and IMF negotiations over Greece.

9. The Presidential Turkey 

a) Each Thanksgiving Day since 1947, the President of the United States has been presented with three turkeys by the National Turkey Federation. One live turkey is pardoned and gets to live the rest of its life on a quiet farm; the other two are dressed for the Thanksgiving meal.
b) Each Thanksgiving Day since 1947, a turkey has been presented with three potential Presidents by political parties. One is pardoned and gets to live the rest of its life on a quiet farm; the other two are dressed for an election.   
c) The winner of b) 

10. Which of the below are quotations from Thanksgiving

a) "Let us remember that, as much has been given us, much will be expected from us, and that true homage comes from the heart as well as from the lips, and shows itself in deeds."
b) "Do we have to have your parents over this year?"
c) "Nah, sorry he's left early, try Monday"
d) "Well tell him it's closed and if he expects to get filled flat on his stop on a theoretical price he needs to go back to reality school" 
e) all of the above

And a final Topical Bonus Question

The Yen is 

a) Fairly priced 
b) Gonna be taken to Zimbabwe by Abe. 
c) Yet another head fake.
d) The dusty old light sabre of the 1990's Jedi Macro Hedge Fund Knights and they are fingering the key to the sabre-cabinet again with a twinkle in their eyes.


Leftback said...

Thanksgiving, for non-natives, is a time for enjoying someone else's holiday and a time for introspection about the things that are really important.

A bit off-topic, I know, but LB found this article very interesting, especially the comments about Singapore, mainly because of what it reveals about ourselves.

SIngapore's Emotion Deficit

There are two ways of looking at this. Singapore may not be a fun place (for Singaporeans), and it is by any measure a repressive country that can barely be considered a democracy, but then again this doesn't appear to bother the people too much, perhaps b/c of cultural expectations about happiness.

On the one hand, we are often horrified by a deficit of emotion. Westerners do find it difficult to adapt to societies where people don't respond effusively to inter-personal contact. The British in particular, have a deep-seated need to have their own manners reflected back to them, while Americans are always shocked when others don't seem to love them and admire their culture as much as they imagine.

On the other hand, when one lives in a Western culture that immerses itself daily in a sea of emotional display, there is an element of cacophony in everyday life to which one becomes accustomed. Spending a few days in an emotionally reserved culture like Japan can be remarkably refreshing, in part because the emotional noise level is so low that one can actually think far more clearly.

Turning down the volume on emotion seems to also be helpful for investing, although there are limits to this. After all, sometimes one gets the best signals from listening to the direction and amplitude of the babble out there.

Sorry this is long-winded...

Anonymous said...

1. All of the above
2. B
3. B
4. B
5. D
6. Black Friday is: something that was priced at $199 5 years ago, and you're still trying to get it off the shelf, and you reduce the price to $99, and tell me I'm getting 50% off. What a disaster.
7. C & a celebration of genocide. (wWHAT? I don't know any Tulalip Indians here having turkey tomorrow)
11. C and you know what I'm still falling for it. Its a volcanic Island with no resources and a declining population Gaawwwwwd.

Anonymous said...

"The dusty old light sabre of the 1990's Jedi Macro Hedge Fund Knights and they are fingering the key to the sabre-cabinet again with a twinkle in their eyes."
HAHA genius! - c.f. bbm yesterday: "Large Macro HF rolls up his $Y call spread" etc....
So many good and recognisable quotes once again... Makes for some chuckles on a dead day.
Cheers guys, JL

amplitudeinthehouse said...

No thanksgiving here I'm afraid, but enjoyed the quiz all the same.

Side note: after going through the technicals , which has become more significant as we try and push higher in some futures markets , this break has come at a delicate time. still betting the tops in for 2012.

Still hibernating from US equities for now, but the next couple weeks are likely to produce a different game plan going into the new year than the one from last year..still be tickle pink if there's was more done over there in EZ.

optimus said...

what a stuffed bird you are

Leftback said...

Typical post Thanksgiving Monday market hangover, we're a bit less optimistic this week. Time for some hedges while politicians inspect their knitting.

Anonymous said...


Carney chosen to replace King as BOE Gov.

Carney had nothing to do with Canadian economy/banks weathering the financial melt down of 2008! It was Paul Martin, liberal FM, 1990s who didn't allow banks to merge and become too big-to-fail! Also, like Australia, Canada benfitted from China's stimulus!

Carney gave wrong signals on int. rates. From 2009-2012 he stayed hawkish, knowing the monetary policy of Canada is in the hands of the U.S. FED! I feel sorry for Canadians who took Carney seriously, sold their homes and rented -since 2009! Wow!

And Mr. Carney was just lucky to be at the right place at the right time. Nothing more! Good luck to England. You can have him!

From Canada.

Leftback said...

Things that make you go... hmmm

Towel Chucking By Treasury Bears

Certainly would not want to be short USTs this week with OMOs every day, but it looks as though everyone may be sitting on the same side of the boat soon.

WellRed said...

Re Mark Carney. I worked for that guy. He is chair of the FSB for a reason.

Would love to hear TMM's take.

Anonymous said...

C Says'
"Time for some hedges ".
Good news,without those hedges it will be harder for the market to go higher ;)

Saul Bollox said...


Small hands, and smells like cabbage.

Anonymous said...

C Says'
Are they ever going to make the musical "Don't cry for me Aphrodite"? Poor old Argentina,they must look at Greece and think "me too,please".Surprised the Arg have not asked to join the EU,would solve a lot of problems for them.
If this was football match I bet they would like to swap shirts with the Greeks.

abee crombie said...

carney is a stud. nuff said. so he talked a hawkish tone but he didnt go the route of uncle ben and drop loonies ( i guess it would hurt a bit more than paper $1 bills)

the inflation dynamic in the UK is more complicated than in Canada, especially if the pound stays low. But he's the guy you need.

Paul martin didnt save the canadian banks. Canadian banks are just more conservative by nature and didnt have a housing bust (yet). In 2007 everyone wanted canadian banks to get more involved with structured credit. they had big time Goldman envy. Times have changed

amplitudeinthehouse said...

Bondholders of Arg were noted here not long ago of being sour...but that wasn't the case at all. ARG treasuries models were showing distress recently and quietly put quill paper and sent a message to market holders not to provoke any more unnecessary enmity as it planned to make up the necessary gap if the court s allow it to go through. Bondholder put pay to that plan with a rebuttal in a context that they knew such action would face veto in some quarters , which it did. But the gate has been slammed , fortuitously we might add too , and they proudly wear any stain left on them after that rebuttal, that was not so quietly delivered back .

Yours truly ,
Tickle Pink

Leftback said...

Nice summary here of several technicals and sentiment issues that were pointed out by a variety of observers during the prior week's trading:

The Bottom Is In

We are hedging in the short-term, and flat bonds for this week, but we are still bullish equities and bearish bonds over the longer term. This week looks like chop while the market processes Treasury auctions and OMOs while awaiting noise out of Washington.

Anonymous said...

C Says'
the link is a pile of horseshit. "Shooting star".What about several others preceding that that nailed nothing?.
"Hammers", on a Friday well sure,it's the close of a week and if the weeks been er weak then that's the day covering forms that type of candle.Sorry old chum,but that stuff is pure undiluted crap.What isn't crap is you can take a calculated punt on stuff like that and sentiment and seasonality and if it doesn't work out then tough, take the loss,keep it small and move on.That's trading.
If I had a quid for everyone of those sites that creams a few quid out of the market telling us something special based on technicals ,fundamentals etc etc then I wouldn't bother trading at all.
Look I am all for making a bob,but shite like this should not be taken other than with a bag of salt over both shoulders.Generally they don't say too much about when they are wrong and they are usually careful enough in prescription that they can fudge the outcomes to be whatever they eventually are. I lump them right in there with Gypsy Rose Lee.Throw them the odd quid for a bit of entertainment sure,but more than that you have to be kidding. Indeed as an Industry this one kids much more than most.That's how a lot of it get's paid.

Leftback said...

Afternoon C, did you just open a stale package of digestives, mate? Sorry, was a bit bored. Not really a candlestick man, generally, not unless they are being peddled by some tasty bird on telly. Then I am all ears, innit?

Little dump into the close. LB hedges working. Smirk. All good. TMM are still in post-Thanksgiving snooze mode into the end of the week.... this week the market is about as exciting as Aston Villa v Reading or Sunderland v QPR.

Maybe that's where TMM are?

Anonymous said...

C says'
I was being uncharacteristically blunt.I could have soap lathered it up better, and said the same thing in a more acceptable way.

Apologies. I wasn't taking exception to your stance by the way. Just the link.

Anonymous said...

C Says'
What is hurting the market here is lack of volume which implies traders throwing stuff back and forward whilst the grownups sit and watch waiting for other elected so called grownups to get on the same page of the hymn book.

As we appraoch the end of this year one can only sympathise with a spreading viewpoint that markets are now so politicised that the average punter has increasingly shut up shop and left it those who get paid to be bounced. As a trend it implies squeezes will as time goes by pass from being market terminology to become more employment focussed. Some might wish to sign up for retraining as plumbers etc etc.Especially those technocal wizards who know how to deal with "hammers" and "shooting stars"

amplitudeinthehouse said...

Yes, fatigue comes in many flavors nowadays. Just noted today that this market (inter macro markets) is in motion of developing something , just what, I don't have the experience.

Anonymous said...

C Says,
Thin market led by an old dog like M & S hardly fills me with bullish hope.