Saturday, December 20, 2008

0 for December and the Cash "bubble"

I've been away from my desk, so to speak, and didn't do any trading for the December option expiration cycle.

Barrons reports on the "cash bubble" link

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"Cash is the elephant in the room," says a strategist at a top investment bank who spends his days dealing with portfolio managers. "Everyone has lots of it, and I don't know when they are going to start taking risk, but I want to be in right before it happens."

The recent clamor to buy four-week Treasury bills with a zero-percent yield perfectly expresses the market's mania for absolute safety
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With phrases such as: cash bubble, mania for safety, and bills at zero yield, zip nada nothing, it makes for an interesting time.

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