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Surprise, surprise - Wall Street Traders own NO stocks themselves!

Discussion in 'Political Discussion' started by DisgruntledTunaFan, Jun 9, 2010.

  1. DisgruntledTunaFan

    DisgruntledTunaFan In the Starting Line-Up

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    News Headlines

    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.

    read more
     
  2. BSR

    BSR In the Starting Line-Up

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    er...I don't think that is what that means.
     
  3. Real World

    Real World Moderator Staff Member

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

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