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Abysmal Volume Sell Off In Last Q1 T+3 Settlement Day

Tyler Durden's picture




 

Well, the idiot regulators, market monopolists, frontrunning algorithms, and, of course, Hewlett Packardian central planners have finally succeeded in driving everyone else out of the shark pool. Calling today's volume abysmal would be an insult to abysses everywhere. The OED is now in need of a word to explain the kind of market volume that appears to be part of the new Vissarionoviched normal. As we closed T+3 prior to Q1 settlement, stocks meanders without direction then saw nearly 1 billion in market on close sell orders. And what is far worse for the momo lemming brigade is that despite the negligible volume is the market, which traditionally manages to levitate courtesy of rebate collecting HFT stock churners, the wealth effect denying sell off could not be prevented. Is the Fed losing its market manipulating touch?

 

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Mon, 03/28/2011 - 16:08 | 1109920 hedgeless_horseman
hedgeless_horseman's picture

Hypocrisy, bitchezzz!!!

"The President does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation."

~Senator Barack Obama
December 20, 2007

http://dailypaul.com/160170/joe-biden-war-without-congressional-authorization-should-warrant-impeachment

 

...and our VP speaks to this matter:

 http://www.youtube.com/watch?v=_dRFJ6CF2Mw&feature=player_embedded

 

Mon, 03/28/2011 - 16:10 | 1109932 alien-IQ
alien-IQ's picture

He was kidding. Didn't you get the memo?

Mon, 03/28/2011 - 16:43 | 1110058 Conrad Murray
Conrad Murray's picture

Libyan rebel commander admits his fighters have al-Qaeda links

http://www.telegraph.co.uk/news/worldnews/africaandindianocean/libya/840...

What better way for our Muslim dictator to spend blood and treasure, amirite?

Mon, 03/28/2011 - 16:54 | 1110110 SheepDog-One
SheepDog-One's picture

Wait, didnt we have a war on terror centered around 'getting Al CIAda'? Now theyre our friends? Hmm I guess we can expect to see Osama Bin Laden on CNBC tomorrow morning being interviewed as a new GS partner.

Mon, 03/28/2011 - 17:14 | 1110207 Chuck Walla
Chuck Walla's picture

Thats Obama bin Lyin' to you, Pard!

Mon, 03/28/2011 - 17:45 | 1110329 asteroids
asteroids's picture

Starve the beast, and it'll die. I think everyone has figured that out. Congrats to the FED, it now owns the whole market.

Mon, 03/28/2011 - 16:16 | 1109952 Mr. Anonymous
Mr. Anonymous's picture

What does this have to do with today's market action?  Take your fucktard political shite somewhere else.

 

I remember a time when the comments section on this blog was every bit as good as the commentary.  Now it's all bitchez and snark.

Mon, 03/28/2011 - 16:16 | 1109966 Pool Shark
Pool Shark's picture

 

Heh, heh...

He said "Shark Pool"

Isn't that wardsback?

 

Mon, 03/28/2011 - 16:18 | 1109973 Mr. Anonymous
Mr. Anonymous's picture

Touche'.

Mon, 03/28/2011 - 16:21 | 1109981 traderjoe
traderjoe's picture

Ah, the good old days, bitchez... /s

Yea, I junked you for whining...

Mon, 03/28/2011 - 17:11 | 1110182 Mr. Anonymous
Mr. Anonymous's picture

Well, then, junk on noob.

Doing a haphazard search through the profiles, I see most people have been here not much more than a year, some less.  Some, even just a few days.  So, bringing up the 'good ol days' is pretty pointless, since you weren't around to appreciate them.  Like you, for instance, in with a whopping 39 weeks of perspective, or Confucious222 at 36 weeks, or Mr. Anderson at a staggering 4 days and 19 hours.  Welcome, boys.  Stick around and maybe you'll learn something.  From Tyler and company, at least.

 

Regardless, things were different, a time ago.  And yes, while I am certainly no expert on the market, I enjoyed reading some expert analysis and sharp macro-thinking, as others surely did.  Mako. Cheeky Bastard.  Andy Dufresne.  Just to name a few.  Now, it seems like a lot of refugees from political sites and the Yahoo! boards, people without the deep knowledge of the past commentors, though there are still some pretty fine thinkers here.  Again, junk me, I don't care.  Everyone's entitled to their opinion.

 

Cheers from those about to be junked.  We salute you! 

Mon, 03/28/2011 - 17:13 | 1110192 Dr. Porkchop
Dr. Porkchop's picture

'Tis the circle of life. Now get off my lawn.

Mon, 03/28/2011 - 17:25 | 1110249 Mr. Anonymous
Mr. Anonymous's picture

14 weeks, one day.

Mon, 03/28/2011 - 17:39 | 1110309 Dr. Porkchop
Dr. Porkchop's picture

Oh, sorry. I didn't realize we were flopping our dicks on the table.

Mon, 03/28/2011 - 17:30 | 1110268 traderjoe
traderjoe's picture

Maybe when I make 1 year I will reach your hoped-for level of wisdom and saliency - and then maybe I will know what a noob is.

Going, charitably, to your point, what's there to discuss about the 'markets' anymore when the Fed is the market? "BTFD", for instance, has become a short-hand for the Fed's liquidity policies and their impacts on stocks. At times, what more is there to say?

Ppl come and go, and sites evolve and change. Some of my favorite posters are gone too. But that's no reason to bite someone's head off...

Mon, 03/28/2011 - 17:35 | 1110276 Mr. Anonymous
Mr. Anonymous's picture

"Going, charitably, to your point, what's there to discuss about the 'markets' anymore when the Fed is the market? "BTFD", for instance, has become a short-hand for the Fed's liquidity policies and their impacts on stocks. At times, what more is there to say?"

 

Must admit you have a point.  BTFD has replaced virtually everything. 

 

Apologies, bitchez!

Mon, 03/28/2011 - 17:32 | 1110273 Screwball
Screwball's picture

Thank you, I miss those days too.

Mon, 03/28/2011 - 17:59 | 1110395 IQ 145
IQ 145's picture

 The stock market topped out on Feb. 22; we are now in a bear market; this I have said many times. I say it again; a pure comment on the market and market timing. "Sell on market close" orders are a dead give-away, the heavy weights plan on making money on short postions.

Mon, 03/28/2011 - 21:07 | 1111016 Fearless Rick
Fearless Rick's picture

You know, I wasn't here in the "good old days" either, but I have to agree with Mr. Anonymous that the level of sophistication in the commentators is quite low.

For instance, Mr. IQ 145 doesn't employ the basic intellectual rigor to check his own facts. Feb. 22 was NOT the market top, Feb. 18 was, and furthermore, March 23 was a double engulfing session, usually significant of a key reversal.

Sure, it's fun to say BTFD, but technical patterns are still out there, if one has the curiosity to look. As one commentator above mentioned, all mechanisms for price discovery have been distorted by the Fed and the PPT and other manipulative functions which may or may not be present. Those factors, however, do not excuse one from the simple exercise of checking facts before engaging keyboard.

Mon, 03/28/2011 - 17:59 | 1110397 chet
chet's picture

For the record, I agree with you Mr. Anon.  There is a lot of hijacking the comment thread with politics around here. 

There are plenty of places to rant about the President's birth certificate.  This isn't the best place for that.

Mon, 03/28/2011 - 18:09 | 1110429 Biff Malibu
Biff Malibu's picture

I'm a ZH vet.  Don't comment much because I'm not nearly as smart as most of the old guard.  Cheeky was so smart reading his posts made my head hurt.  I miss Andy and Marla as well as many others.  Not sure where they went, although I have noticed the same things you do.  TD's articles are like heroin to me.  Can't go longer than about an hour without checking ZH.

Mon, 03/28/2011 - 16:31 | 1109995 hedgeless_horseman
hedgeless_horseman's picture

The first post has frequently carriedwith it a traditional responsibility that involves the use of bitchezzz!  With the TeleprOmpter speaking about his invasion of Libya, tonight, I thought the late sell-off might be related.

Nevertheless, here is some "market commentary" to sooth your anger. 

Wow!  Did you see GM eat more shit today?  Down from the opening to the bell 2% without a breather.  GM sure does sucks.  I bet GM will suck for a long time.  Wish I had the lock-up schedule for the IPO.  Ultimate support at zero, AGAIN?

Please, friend, will you provide a link to some of your past posts here that may act as a guide to the type of posts you wish to see? 

Mon, 03/28/2011 - 17:19 | 1110227 Cdad
Cdad's picture

@Hedgeless,

Bullshit!  You pulled the old clutter monkey routine.  What does your perception of tradition have to do with how OT your post is here?

I'm not your friend, and fuck you and your need for me [or anyone else] to post something to somehow prove that you are not a complete twat!  What I am posting just now should suffice to carry the meaning of my message.

P.S.

And who the fuck cares about GM?  I'll tell you...only central planners care about GM.  Let me guess...Chinese...right?  Fucktard is an excellent word to describe your contribution to this thread.

Mon, 03/28/2011 - 16:30 | 1110026 Confucious 222
Confucious 222's picture

"I remember a time when the comments section on this blog was every bit as good as the commentary.

Lonelier than the Maytag Repairman, the Nostalgia Policeman patrols the dark edges of cyberspace. 

Mon, 03/28/2011 - 16:40 | 1110048 Mr Anderson
Mr Anderson's picture

There was also a time when people on this site had money in equities. When everyone is out of the game why talk about it.

Mon, 03/28/2011 - 16:43 | 1110062 hedgeless_horseman
hedgeless_horseman's picture

Bingo.  I can't even remember what I look like with shorts on.

Mon, 03/28/2011 - 16:47 | 1110083 Mr. Anonymous
Mr. Anonymous's picture

Good point.  It's been a long time since being short was the shit.

Mon, 03/28/2011 - 20:06 | 1110791 dogismyth
dogismyth's picture

that's because you guys are gutless, non-committed bears.  You'll eat whatever shit is dished out to you...IOW...you'll buy the fucking dip because you are a moron and you go with flow.

 

I've been short most of this climb up at strategic points.  I never ever sell my shorts for loss.  Ever...ya pussies!  Ya got no gumptions!!!

Mon, 03/28/2011 - 17:32 | 1110272 nohweh
nohweh's picture

 

thanks for your exemplary"bitch and snark". Exactly right. How could politics have relevance to the struggle for world control? Hopefully you will do your bit to take us back to the good ol days and eff off.

Mon, 03/28/2011 - 17:35 | 1110284 Mr. Anonymous
Mr. Anonymous's picture

21 weeks.

 

You forgot to wipe behind the ears.

Mon, 03/28/2011 - 18:08 | 1110428 nohweh
nohweh's picture

Well past your "best by" date, mate.

Mon, 03/28/2011 - 20:04 | 1110777 fuu
fuu's picture

You missed a spot back there as well.

Mon, 03/28/2011 - 16:58 | 1110132 Dr. Porkchop
Dr. Porkchop's picture

Ah, he said 'under the Constitution'. That's where you went wrong. The Constitution was replaced by the USA Patriot Act. Perhaps you remember it being passed, everyone was clapping at the demise of liberty.

Mon, 03/28/2011 - 17:27 | 1110258 Tom Servo
Tom Servo's picture

That was just "Campaign Rhetoric" jeeeez ...

 

Mon, 03/28/2011 - 16:07 | 1109926 duncecap rack
duncecap rack's picture

Is the fed losing it's manipulating powers? One can only hope.

Mon, 03/28/2011 - 16:40 | 1110046 Highrev
Highrev's picture

No-one's bigger than the market.

Not even the Fed.

(Mass collusion and delusion is another thing altogether though, but if you ask me, I'll say that game's over too.)

Reality about to bite some folks’ heads off?

I’m getting ready for fireworks to the downside.

 

 

Mon, 03/28/2011 - 16:57 | 1110128 taraxias
taraxias's picture

Who's more powerful, plutonium or ChairSatan?

We're about to find out.

Mon, 03/28/2011 - 16:07 | 1109929 DarkMath
DarkMath's picture

Has the Fed lost their touch?

I wonder if the Fed is experimenting today to see exactly how f*cked the market would be if they pull back from buying stock futures.

 

My guess is they were scared by what they saw. A few more days like this and Hedge Fund managers will start to freak out and we can't have that happen.

Mon, 03/28/2011 - 16:18 | 1109976 carbonmutant
carbonmutant's picture

QE only works when you don't expect it...

Mon, 03/28/2011 - 16:32 | 1110034 espirit
espirit's picture

Right... and tomorrow is a QE lite 'TIPS' day.

Hmmm?

Mon, 03/28/2011 - 16:22 | 1109991 Quinvarius
Quinvarius's picture

I agree 100%.  They are running tests and talking smack to see what would happen if they decided to pull liquidity in the midst of a freaking recession.  They should make up their GD minds.  Either they believe they need to add liquidity in a downturn or they believe their job is to make a depression.

The answer to their problems is to fix the banking system so it is loaning and not speculating and to dismantle the TBTFs.  But they don't see it that way.  They will continue to overfeed the lazy mule with the 4 broken legs and ask it nicely to pull the cart instead of calling a vet or shooting it.

Mon, 03/28/2011 - 16:33 | 1110036 velobabe
velobabe's picture

my L O C A L bank is giving away as a gift, two burner barbecue grills, if you take out a home equity loan.

Mon, 03/28/2011 - 16:43 | 1110066 Mr Anderson
Mr Anderson's picture

my L O C A L bank is giving away lego houses! The tellers have so little to do, they even built the lego house for you as part of their home equity loan program that started today.

So I had to ask the teller how much equity I could borrow on the lego house and if it would be enough to cover my home equity loan.

 

 

Mon, 03/28/2011 - 18:05 | 1110408 IQ 145
IQ 145's picture

 That 's cool. I would say they're tryin. I remember when Banks would give you a toaster or an alarm clock when you opened a savings account; 'course we're talkin times when dinosaurs walked the earth and I had to walk a mile to school every day, uphill both ways.

Mon, 03/28/2011 - 19:34 | 1110683 Jay Gould Esq.
Jay Gould Esq.'s picture

My L O C A L bank was seized by the FDIC two weeks ago.

Mon, 03/28/2011 - 16:30 | 1110025 Pepe
Pepe's picture

yeah..Stress test on the market....Bernanke reading Chomsky..trying to learn new techniques

Mon, 03/28/2011 - 18:10 | 1110437 DosZap
DosZap's picture

Has the Fed lost their touch?

Nope, they are pulling QE 2 early to strip the flesh off the dumb bstds who think they have made out like bandits(yet again).

Slap a 3000-5000pt drop on the poor suckers still buried in the market to the Moon.

Some people never learn.How many times are you Buy & Holders going to get to start all over again?.

A fresh  skinning is coming, the commods will drop(idiots will dump) instead of add, and the pension funds and 401k's will get eaten alive YET again.

 

Mon, 03/28/2011 - 16:06 | 1109930 alien-IQ
alien-IQ's picture

I blame the lack of volume on the snow...Surely, it must be snowing somewhere.

Mon, 03/28/2011 - 16:12 | 1109944 malusDiaz
malusDiaz's picture

Snowing Cesium, Iodine, Strongtium, and even some Plutonium!

Mon, 03/28/2011 - 16:21 | 1109979 Pool Shark
Pool Shark's picture

 

Typo...

That's Platinum, not Plutonium.

We're all gonna be rich!

 

Mon, 03/28/2011 - 16:53 | 1110109 MolotovCockhead
MolotovCockhead's picture

Typo...

That's Platinum, not Plutonium.

We're all gonna be rich!

 

Are you mad? How do you think you can possibly get out of this alive, with bricks of Platinum raining down on you?

Mon, 03/28/2011 - 16:57 | 1110121 MolotovCockhead
MolotovCockhead's picture

Typo...

That's Platinum, not Plutonium.

We're all gonna be rich!

 

Are you mad? How do you think you can possibly get out of this alive, with bricks of Platinum raining down on you? A very rich dead man or a rich man with severe head injuries!

Mon, 03/28/2011 - 16:23 | 1109990 TX-Mike
TX-Mike's picture

You forgot "hopium" !

Mon, 03/28/2011 - 16:34 | 1110040 espirit
espirit's picture

... Waddell & Reed-ium?

Mon, 03/28/2011 - 16:45 | 1110072 I Am The Unknow...
I Am The Unknown Comic's picture

I propose we hereby refer to President "B.O." by his radioactive isotope: Hopium-44

It is highly toxic and smells like, well, Body Odor... 

Mon, 03/28/2011 - 16:12 | 1109945 depression
depression's picture

Nothing that can't be easily fixed at 2:30 am with a couple hundred ES  & NQ contracts.

move along , nothing to see here

 

Mon, 03/28/2011 - 16:25 | 1110009 alien-IQ
alien-IQ's picture

true...that's why I'm trying to quit watching futures at night...I find it's easier to deal with suicidal tendencies in the morning rather than in the dark of night.

Mon, 03/28/2011 - 17:45 | 1110328 stephysat28
stephysat28's picture

im with you on that

Mon, 03/28/2011 - 18:06 | 1110417 IQ 145
IQ 145's picture

 Good point; I think we need to turn up the global warming; it doesn't seem to be working.

Mon, 03/28/2011 - 16:11 | 1109937 mynhair
mynhair's picture

Low volume due to no one working, hence no 401K contributions.

Sheesh, still dropping AH.

Could be the 'ODummer addresses those 2 that still listen to him' effect.

Mon, 03/28/2011 - 16:46 | 1110084 I Am The Unknow...
I Am The Unknown Comic's picture

Yep, and don't forget early withdrawals from IRAs by the 99ers who must dip into savings in order to pay their bills on the 1rst of the month.  As more of them lose benefits, more withdrawals and decreased savings rate.  Funny how that wasn't mentioned in today's numbers....

Mon, 03/28/2011 - 17:25 | 1110251 Highrev
Highrev's picture

nice volume spike on the EOD sell-off though

 

(put that in bold so nobody would miss it as it seems that it's been going un-unmissed)

 

 

Mon, 03/28/2011 - 16:10 | 1109942 John McCloy
John McCloy's picture

What happened to mutual fund Monday?

Mon, 03/28/2011 - 16:20 | 1109983 crosey
crosey's picture

Next Monday?

Mon, 03/28/2011 - 16:21 | 1109988 alien-IQ
alien-IQ's picture

looks like they mutually decided to get the fuck out of dodge.

Mon, 03/28/2011 - 18:16 | 1110451 theadr
theadr's picture

My dollars went in on Fri. 3/25 this pay period, and yes we get paid on Fridays.  It typically has been Mondays, guess Fidelity didn't get the weekend float, but still bought my mmmf at the $1.00 high.

Mon, 03/28/2011 - 19:40 | 1110704 Jay Gould Esq.
Jay Gould Esq.'s picture

Gone to the dustbin of history, with the Barron's Bounce and Dan Dorfman.

Mon, 03/28/2011 - 23:38 | 1111540 defn8Dog
defn8Dog's picture

Oh it was there. Unfortunately, a billion went into the abyss at 15:45

Mon, 03/28/2011 - 23:43 | 1111546 defn8Dog
defn8Dog's picture

Oh it was there. Unfortunately, a billion went into the abyss at 15:45

Mon, 03/28/2011 - 16:11 | 1109947 dbach
dbach's picture

anyone else find that selloff into the close awesome?

Mon, 03/28/2011 - 16:13 | 1109953 malusDiaz
malusDiaz's picture

Like a million HFT computers cried out at once... 

Mon, 03/28/2011 - 16:14 | 1109958 mynhair
mynhair's picture

Not awesome enough.  Never hit my AVL bid @ 7.16.

Will go to 6.85 tomorrow.

Mon, 03/28/2011 - 16:17 | 1109970 cosmictrainwreck
cosmictrainwreck's picture

hell yes - what I been lookin' for (but we'll see....) thoughts on PPT: they (somebody) stopped Dow DEAD COLD at 12214....couldn't dare let it break the closes of -214 & -213 on March 8-9, but ooops - OK how ' bout stop at 12200, then? ooops... Still, VXX players after-hours are pretty cautious

Mon, 03/28/2011 - 18:07 | 1110423 IQ 145
IQ 145's picture

 I regard it as very significant; and of course, I could be completely wrong. I would say, at this time, Selll the Fuckin Rally"; more or less.

Mon, 03/28/2011 - 16:15 | 1109967 furieus
furieus's picture

I guess no one wants to sell at these high prices.

Buy and hold must be back.

Mon, 03/28/2011 - 16:17 | 1109969 Platinum_Investor
Platinum_Investor's picture

Man do I call my broker and tell her to take half my money out of stocks for the next

few months and wait this out.  Got such nice gains. 

Mon, 03/28/2011 - 16:19 | 1109972 mynhair
mynhair's picture

Make the call.  And then get into trading.

Mon, 03/28/2011 - 18:11 | 1110433 IQ 145
IQ 145's picture

 No. fails to logical analysis; stocks are either the best place for the money, (risk/reward); or they're not. Tjo wait something out; you take ALL the money out; not half of it.

Mon, 03/28/2011 - 19:06 | 1110601 Withdrawn Sanction
Withdrawn Sanction's picture

Man do I call my broker

Just be sure to use a rotary phone...or better yet, send her a telegram w/sell instructions.

Mon, 03/28/2011 - 19:40 | 1110714 Jay Gould Esq.
Jay Gould Esq.'s picture

Is she hot ?

Mon, 03/28/2011 - 16:19 | 1109974 buzzsaw99
buzzsaw99's picture

the fed knows that the fed has replaced any semblance of a free market. They can suck it bitchez.

Mon, 03/28/2011 - 16:19 | 1109975 Sudden Debt
Sudden Debt's picture

I think the FED still has a few bunnies in it's sleeve.

IT AIN'T OVER TILL THE BALD GUYS RUNS OFF ON A PLANE TO SOUTH AMERICA!!

 

Mon, 03/28/2011 - 16:21 | 1109982 carbonmutant
carbonmutant's picture

Anywhere in the southern hemisphere is likely to be safer than here...

Mon, 03/28/2011 - 16:25 | 1110007 MX_DOGG
MX_DOGG's picture

Absurd how every analyst and CNBS talk show host uses the term "don't fight the fed" while espousing a "free market".. 

Mon, 03/28/2011 - 16:32 | 1110017 alien-IQ
alien-IQ's picture

they wouldn't recognize irony if it walked up and bitch slapped them.

Mon, 03/28/2011 - 18:14 | 1110440 IQ 145
IQ 145's picture

 We had a very significant article here recently on Zero Hedge to the effect that although the "anounced" , QE2, may expire; abnormal credit creating programs will continue; I regard this as very likely; you might consider this "a bunny the bald guy has up his sleeve". I also believe it's possible, and increasingly likely that the "bloom" is off the rose of the dead cat; to mix metaphors horribly.

Mon, 03/28/2011 - 16:21 | 1109980 Tense INDIAN
Tense INDIAN's picture

bank nifty n nifty updates

 

http://markettechnicals-jonak.blogspot.com/

Mon, 03/28/2011 - 16:21 | 1109985 Misean
Misean's picture

Unemployed/retired baby bumblers who have been made to believe that while their house is in the shit, at least that whole "201K" scare went away are going to get a 2x4 across the face when the decide they need to sell some of their $0.00/Q dividend shares to buy iPad2's for breakfast.

Mon, 03/28/2011 - 16:24 | 1110005 mynhair
mynhair's picture

Who ever thought an AAPL bomb could cause so much havoc?

Mon, 03/28/2011 - 17:14 | 1110199 A Man without Q...
A Man without Qualities's picture

iIED?

Mon, 03/28/2011 - 19:09 | 1110611 Withdrawn Sanction
Withdrawn Sanction's picture

there's an app for that...

Mon, 03/28/2011 - 19:09 | 1110612 Withdrawn Sanction
Withdrawn Sanction's picture

.

Mon, 03/28/2011 - 16:30 | 1110022 farmboy
farmboy's picture

It's simple. The FED has not telegraphed 3 months in advance a clear QE3 into infinity so the elephants could be gathering at the narrow liquidity exit as the 100% surefire gains are in doubt, or something like that is soon to be expected. Even a manipulating FED will find itself to be the only dancer in the room long after the music has stopped (free interpretation to mr Prince of Citibank)

Mon, 03/28/2011 - 17:04 | 1110147 Pepe
Pepe's picture

When you play all by yourself, pretending to be other people, things are prone to happen

Mon, 03/28/2011 - 16:31 | 1110027 Seasmoke
Seasmoke's picture

The Fed doesnt even have anyone to play catch with ?

Mon, 03/28/2011 - 16:31 | 1110028 Caviar Emptor
Caviar Emptor's picture

Where can I cash in my Bernanke put? 

Mon, 03/28/2011 - 16:36 | 1110037 mynhair
mynhair's picture

Ask Lara Logan.

Mon, 03/28/2011 - 16:32 | 1110032 Sophist Economicus
Sophist Economicus's picture

"Is the Fed losing its market manipulating touch?"

 

No.   Everything they touch turns to crap, hence our now meaningless 'markets'

Mon, 03/28/2011 - 16:36 | 1110041 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Anyone know what time the CFTC position limits news is due?

I thank you.

Mon, 03/28/2011 - 16:38 | 1110044 mynhair
mynhair's picture

Who cares?  It's a week old.  Oh, limits.  I misunderstood.

Mon, 03/28/2011 - 18:34 | 1110498 Rainman
Rainman's picture

That show has been cancelled until further notice. And yes, the fix appears to be in.

Mon, 03/28/2011 - 16:39 | 1110043 Widowmaker
Widowmaker's picture

NFLX up 124% on volume and over 3% on price.

LVLT at avg. volume and over 3.5% price.

Who is complaining like a little school girl that didn't get a Polly Pocket for their birthday?

Mon, 03/28/2011 - 16:40 | 1110052 mynhair
mynhair's picture

You -gasp- hold that pig?

You are a god.

Mon, 03/28/2011 - 16:41 | 1110064 Widowmaker
Widowmaker's picture

If you are talking about NFLX, hell no - I've been selling for months!

Mon, 03/28/2011 - 16:46 | 1110070 mynhair
mynhair's picture

- whew! -  Thought I needed to call for an intervention.

Unless you're shorting....

Mon, 03/28/2011 - 16:48 | 1110092 Widowmaker
Widowmaker's picture

Whats wrong with both?

Mon, 03/28/2011 - 18:15 | 1110450 IQ 145
IQ 145's picture

 Very, very dangerous. The retail "dummy" spike before the very, very bad thing. Exciting, but not an "investment". Time to leave off with these things, now.

Mon, 03/28/2011 - 16:42 | 1110053 Spalding_Smailes
Spalding_Smailes's picture

Selloff .... Only in the Gold • Silver miners .... A bloodletting in most miners, no QE3 getting priced-in, everyone running for the hills ?

NVDA, MPEL, GLUU, TTWO, ARMH, TTM holding up real nice .... It's all what you own. Lol'

Mon, 03/28/2011 - 16:43 | 1110059 mynhair
mynhair's picture

What bloodletting in GPL?  I'm cornfused.....

Mon, 03/28/2011 - 17:06 | 1110154 taraxias
taraxias's picture

What are you confused about? He's a troll.

Get it now?

Mon, 03/28/2011 - 17:20 | 1110204 Spalding_Smailes
Spalding_Smailes's picture

"South Florida," he said, "is working off of a totally new economic model than any of us have ever experienced in the past" according to a realtor who predicted that a land shortage will support higher prices indefinitely.

-Trading Places: Real Estate Instead of Dot-Coms", in the NYT.

I was a brand-new investor. I thought I was doing the right thing, but it looks like I lost everything. My wife is mad at me.

-Massoud Balbas, quoted in the LA Times

"I think what may happen -- I don't think you'll see a reduction in [intangible] value; let's put it that way. Value and price are different things. You probably won't see a reduction in value, but maybe in prices, meaning you can pay less but it's worth more."

-Realtor Beverly Pindling, quoted in the Orlando Sentinel


But , but, but ..... Goofs like yourself tell me we are in for a .... hold it, shortage in Gold • Silver.... Lol'

....... Silver Wheaton’s increase in 2010 attributable reserves was a combination of acquisition and organic growth. The Company acquired 100% of the life of mine silver and gold production from Augusta Resource Corporation’s Rosemont Copper Project located in Arizona, which increased attributable reserves by approximately 7%. In addition, continued exploration success at the mines from which Silver Wheaton purchases its silver led to another year of strong organic reserve growth, more than replacing reserves mined during the year." ..................

Mon, 03/28/2011 - 17:05 | 1110159 Spalding_Smailes
Spalding_Smailes's picture

IAG, AU,GOLD,BAA,NSU ...

PAAS,GPR,FR,EXK,PAA ....

Mon, 03/28/2011 - 16:40 | 1110055 Cdad
Cdad's picture

The US equity market has zero credibility at this point in time.  It is no more surprising that it would fall today than it would be surprising if it had gone up 100 days in a row.  There is zero price discovery.  The supply/demand calculation for the equity market has been destroyed by Ben Bernanke and QE2.

So...what gives?  The only people that give a shit about the US equity market are members of the criminal syndicate known as Wall Street.  You know them.  The heads of their various firms whore themselves at the Ministry of Truth [CNBC] every single day.  They tell you about historical values...at a moment in time when there is simply no way to put value to equity.

So...did I miss something?  Are people really surprised?  Or is the /sarc thing on?  What gives?

Mon, 03/28/2011 - 16:44 | 1110074 Highrev
Highrev's picture

I say the snapback is over.

Mon, 03/28/2011 - 17:16 | 1110213 Cdad
Cdad's picture

And I would say maybe it is, maybe it isn't...but it does not really matter because the criminal syndicate known as Wall Street has destroyed the US equity market credibility entirely.

The point is, no one will be showing up after Ben Bernanke to buy their shares of Apple from them.  Of course it will sell off, now, tomorrow, next week...but it will sell, and comes the dip that no one will buy.  Of course they are practicing reverse repo ops.  Of course.

Just because the market is still up and stumbling around does not mean it is alive and well.

I still don't get that some people are surprised, however.  That seems really weird to me.  The action in Apple specifically has been the canary in the coal mine for almost a month now.  Of course someone would make up some story about a bomb threat there.  Of course.  Listen, when talking about the actions of the criminal syndicate known as Wall Street, we are talking about seriously stupid people...who represent seriously arrogant people.  Of course this market will fall apart...of course there will be selling...

 

Mon, 03/28/2011 - 16:40 | 1110056 Roger Knights
Roger Knights's picture

Bloomberg:

Stocks in U.S. Erase Advance on Marriott's Revenue, Japan Nuclear Concern

The initial version of the story mentioned that the int'l. nuclear agency held a press conference in Vienna where it said that the detection of plutonium outside the reactor meant that something bad was going on.

Mon, 03/28/2011 - 16:43 | 1110060 steveo
steveo's picture

I think the "Egg of Doom" was a big hit over the weekend.  That was a linear scale.

There is no "easy way" to trade, and you have to change as the market changes.    If what you are doing is not working, do something else.

Here is Egg of Doom in log scale and with a Fib Fan type of analysis.   Enjoy, and watch for possible scrambled eggs.

http://oahutrading.blogspot.com/2011/03/egg-of-doom-log-scale.html

Mon, 03/28/2011 - 16:46 | 1110078 RobotTrader
RobotTrader's picture

Yep, gold stocks are always the first to be sold with utmost urgency upon any hint of an equity market correction.

All those guys on King World News still don't get it.  They are talking about the "Endgame", and they do not know that they are also cheering on their own demise, since gold stocks and commodities are always the hardest hit in a bear market.

But LULU is still climbing after hours...

Management announced a 2 for 1 split, wow, they have impeccable timing......

Retail names still remain strong.  That could change tomorrow, but for now, XRT is still pinned near 52 week highs.

Mon, 03/28/2011 - 16:54 | 1110090 mynhair
mynhair's picture

I'm selling armpit juice, wanna buy some?

Who cares about these crap teflon stocks?

Not me.  Ya want fun, buy MON - RoundUp encapsulates radioactive particles, or so GW will soon post.

(Edit:  Not my junk)

Mon, 03/28/2011 - 17:00 | 1110135 lieutenantjohnchard
lieutenantjohnchard's picture

but yet the world's worst trader - the poster known as robottrader is the only man in the united states that's lost money in the gold and silver market - still owns gold stocks in his ira which are at a loss, he says. so while he mocks the potential demise of the king world gold stock holders he too owns gold stocks, but is afraid to sell them. in other words, as i've said tme and again, the poster known as robottrader doesn't even take his own advice.

btw, as the self described one of the 2% winners who make money from the other 98% losers how does it come to pass that you held onto losers? i thought all wise traders sold their dogs and kept their winners. guess the world's worst trader does what poor traders do - sells his winners, keeps his losers.

Mon, 03/28/2011 - 17:09 | 1110164 Johnny Lawrence
Johnny Lawrence's picture

You do realize he never responds to comments?  He's either a troll or someone ZH puts in here to drive up page views.

Mon, 03/28/2011 - 17:11 | 1110188 lieutenantjohnchard
lieutenantjohnchard's picture

actually he has responded a few times (not that i care) to me - yesterday, in fact - with comments that contradicted what he has said about himself in earlier posts. in other words - lies. the guy lies even when the truth wouldn't hurt. pathetic.

Mon, 03/28/2011 - 17:12 | 1110186 RobotTrader
RobotTrader's picture

I have one paltry IRA account with gold stocks, my other accounts are pretty diversified among different equity funds.

Unfortunately, I can't trade these actively, since they are crappy John Hancock and Ameriprise retirement accounts with proprietary funds.

But the real money I trade, I've made a killing gaming the stocks everyone else hates, like retailers, banks, etc.

You are probably one of those GATA tin foilers who are cheering for a stock market crash, yet if such a crash were to happen, gold and gold stock owners would be decimated.

I would never get caught in such a trap, and I certainly don't keep all my eggs in one basket like most armchair anarchists...

LOL..

Mon, 03/28/2011 - 17:26 | 1110236 lieutenantjohnchard
lieutenantjohnchard's picture

so if you're one of the 2% who own the other 98% why turn your money over to a fund manager? that's very odd.

btw, the stocks you said you owned in the past were dow stocks like vz, hd etc. those are hardly the kind of stocks one can make a killing on.

but you're right about one thing. while not a tin foiler i'm certainly not diversified. i have a world view and have acted on that view with my investments.

Mon, 03/28/2011 - 19:13 | 1110623 Infinite QE
Infinite QE's picture

"Unfortunately, I can't trade these actively, since they are crappy John Hancock and Ameriprise retirement accounts with proprietary funds." For real? Wow. You really are lost!

Mon, 03/28/2011 - 17:16 | 1110211 RobotTrader
RobotTrader's picture

Mr. Lieutenantjohnchard looking despondent again at his computer screen.

"Why the Eff don't these gold stocks explode higher like these ridiculous retail names??"

"Oh, it's time for me to scold and scoff at Mr. Robot Trader!"

BAAAAAWWWAAAAHHH!!!

Mon, 03/28/2011 - 17:24 | 1110253 lieutenantjohnchard
lieutenantjohnchard's picture

actually, i've been very consistent. i don't own a single stock, not one. it's all physical gold and silver.

Mon, 03/28/2011 - 17:06 | 1110152 Robot Traders Mom
Robot Traders Mom's picture

Have you taken my advice and wandered out in the real world yet, to meet some real people to socialize with?

Mon, 03/28/2011 - 17:08 | 1110170 lieutenantjohnchard
lieutenantjohnchard's picture

yes mrs robot trader mom he has wandered out to see the world. but folks headed for the tall grass when they saw him coming toward them in tight yoga pants, a muscle shirt, floppy white socks and old timey, high top converse basketball shoes.

Mon, 03/28/2011 - 17:12 | 1110185 taraxias
taraxias's picture

As always, RoboTroll posts whether he was long or short the market after 4pm.

I don't blame him to be honest, the few times he dared take a position BEFORE the open, he looked every bid the fool he is.

PHYSICAL, RoboTroll, PHYSICAL, who gives a fuck what the paper price is.

Mon, 03/28/2011 - 17:43 | 1110325 Spalding_Smailes
Spalding_Smailes's picture

You goof, who's buying physical at $1,400, not many .....

They game the miners and futures like Turd ....

Mon, 03/28/2011 - 18:17 | 1110365 Infinite QE
Infinite QE's picture

Just China, India, wealthy Japanese, middle eastern folk, that's all. But that would be a geography lesson for you. Oh, and central banks too. You DO know what those are, right? LOL!

Mon, 03/28/2011 - 19:12 | 1110626 DosZap
DosZap's picture

RT,

I agree we will take a hit, but the physicals will not get close to a retrace to '08.

Too many BUGS been there seen that.

There is no fixing the system, and since this time it FOR real is different(as the EU Crashes too), folks will empty everything that gets sold on the cheap.

Gold @ 1000, or less...........get outa dodge.

China and PacRims, and the Middle East Arabs will suck  it up so fast our heads will swim, after I get MORE.

We still have to pay the piper,now or 2-3yrs from now, the tab is at the bar, and soon the Vig will have to be paid.

Besides anyone who thinks that there is no QE 2 finishing, or a QE3 coming after is just fooling themsleves.(might be for the sheeples sake, and Congress)

We/they just wont get to see where, and when its being spent.

Mon, 03/28/2011 - 16:45 | 1110082 cdude
cdude's picture

Wondering when the SFP unwinding is scheduled to conclude. Anyone?

Mon, 03/28/2011 - 16:50 | 1110106 jkruffin
jkruffin's picture

Santelli said this morning, what do you do when all the funny money is spent, and there is no one left to buy?  The Bernanke Bubble is inching ever closer to causing the biggest collapse in world history.  We are days away now.

Mon, 03/28/2011 - 16:52 | 1110114 jkruffin
jkruffin's picture

Santelli said this morning, what do you do when all the funny money is spent, and there is no one left to buy?  The Bernanke Bubble is inching ever closer to causing the biggest collapse in world history.  We are days away now.

Mon, 03/28/2011 - 17:54 | 1110363 Caviar Emptor
Caviar Emptor's picture

Agree but these things usually take time to play out. Then when TSHTF things move fast and hard

Mon, 03/28/2011 - 16:59 | 1110127 Mr Anderson
Mr Anderson's picture

The better question Jkruffin is what have you done to prepare yourself and your community for the biggest collapse in world history.

Mon, 03/28/2011 - 17:01 | 1110137 RNC
RNC's picture

Could the Fed now be letting the markets correct to make a compelling case for QE3??

Mon, 03/28/2011 - 17:23 | 1110243 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

BINGO!

Of course, the inflation that QE is not causing has now inconveniently sucked American Forces into their 3rd theater of engagement where adding insult to injury they have to listen to the French blab about their daring exploits ... 

So, no more QE until a pause and a whoosh, fear runs rampant and the ChairSatan comes to the rescue once more.

Between now and then is where it gets interesting.

Oh, not my read only, take it from David Rosenberg who on Bloomberg TV today looks more and more like Santa Claus.

Mon, 03/28/2011 - 17:45 | 1110334 Pepe
Pepe's picture

Of course....more money to the banks...more people bankrupted...lots of slaves for hire

Mon, 03/28/2011 - 17:08 | 1110172 mcarthur
mcarthur's picture

To paraphrase another author, Bernake has located the two ugliest women possible, the bond market and the stock market, stood them infront of everyone and said "pick one".   But there are two other women to choose from.  Commodities or cash. 

Mon, 03/28/2011 - 18:23 | 1110475 IQ 145
IQ 145's picture

 It's always been possible to short the long bond; it is easily and conveniently possible, now. "cash" is not an acceptable answer; it doesn't belong on the list of alternatives.

Mon, 03/28/2011 - 17:14 | 1110201 blunderdog
blunderdog's picture

Don't they have to sell off a bit now to ensure there can be a gain on 4/1?  I thought it was agreed the first trading session of the month is when you get all the growth.

Mon, 03/28/2011 - 17:13 | 1110203 taraxias
taraxias's picture

I find it funny how much we've been conditioned. The DOW is down 22 points and we're wondering if Bernanke is letting the market correct. Amazing.

Mon, 03/28/2011 - 17:24 | 1110250 A Man without Q...
A Man without Qualities's picture

+666

Mon, 03/28/2011 - 17:20 | 1110231 onarga74
onarga74's picture

The broad effort to expose the twilight of QE2 is upon us.  It's 2EQ now folks where gravity is no longer a concept and Black Swans begin to arrive like spring smelt.

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