DisgruntledTunaFan

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Wall Street's Bearish 'Pain' Trade: 'Nobody' Owns Stocks
Published: Wednesday, 9 Jun 2010 | 11:11 AM ET Text Size By: Bob Pisani
CNBC Reporter

Global markets are up on: 1) a leaked report that Chinese exports grew 50 percent in May from a year earlier, much higher than the 32 percent gain expected (official numbers due out tomorrow); and 2) a successful 3 and 10 year bond auction in Portugal. Portugal sold 10-year bonds at a 5.23 percent yield. That's higher than the 4.52 yield they paid previously.

In China, the Shanghai Index was up 2.8 percent on the strong export numbers.

A third factor helping markets is the greatly oversold condition of stocks. "The pain trade is higher — nobody owns any stock," one trader told me this morning.

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Scott A. Johnson - End Times Current Events and Bible Study

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BSR

er...I don't think that is what that means.

Real World

Hey, don't get high on your own supply.

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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
Leo Tolstoy, 1897