Alex P. - Freshman Equities Trader - Weekly Desk Notes

Alexander Pavone

Notes for the Week Ending 04-09-10

Notes 04-05-10

-European Markets are closed for Easter Monday

-Markets in the US are never closed 2 days in a row, the only times in the business that he has seen it closed 2 days is September 11^th, 2001 the market was closed for 4 straight days and for Gerald Ford’s funeral, which was the day after New Years

-S&P futures up 4.5 handles from fair value, the Payroll Numbers came in at +162K, which was not as good as forecast but better than the whisper number, which was predicting +150

-4.5 handle range has been very quiet, the rolling tick has been coming in, the average daily range is back below 10 handles so it seems like we are returning back to a quiet grind

-Tokyo up moderately pushing to a new 18 month high, Europe is closed

-the Euro is falling in comparison with the dollar, which is hitting new 18 month highs and knocking on the door of .95

-Gold is bumping to the top of the range, oil is moving higher despite the falling Euro

-It looks as though 1200 is in our sights now and although there is still a 5-6% pullback

-Earnings calendar is light for the week, with today being the most important day of numbers with the ISM and NAPEM, NAPEM being more important than ISM

-Treasury auctions spooked the markets last week because treasury had trouble selling bonds (which are risk free) so it implies that no one will want to buy our equities, which have more risk

-There are times when the currency decouples from the commodity and the wealth effect moves GLD up while the Euro goes back down (just overnight though) it will pull in to correlate back with the Euro

-How is that correlation effecting 2003-04 and 2007 numbers

-In 2004 GLD decorellated from

-Wealth effect should be a glossary term

-When you create derivative data you need to keep

-MPEL upgraded at JPM

-CREE upgraded at