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Another Goldman Sachs "PigMan Shakeout"
Mark the last 3 days down. Yet another classic. Goldman lowballs the GDP and panicked deflationists sell anything and everything "risk" related and pile into dollars and Treasuries. Then the "inflated" GDP is released, and suddenly risk assets of every race, gender, stripe, color, and ethnic origin are once again embraced.
Just picture the GS Prop Traders like wild boars on the NYSE trading floor running over everybody, thrashing about, deliberately creating chaos, devouring its biggest clients.
Its all part of the "Wash, Rinse, Repeat" cycle of ever decreasing interest rates used to finance our ongoing deficits during heavy weeks on the auction cycle. Then when new bonds are floated off without a hitch, its back to chasing stocks, junk bonds, commodities, crack-addled hookers, and booze.
Of course, Goldman makes at least $100 million per day on these turn days, so $300 million for 3 days will be more than enough to add to the bonus pile to be doled out at year end.
Looks like on virtually every index, the 50-day was cracked and retaken in a span of 24 hours...
"Quick!! Sell !! Run!! Hide!!
"Buy, Buy, Buy, Buy!!!"
I'm on the road again, so I'll let Rasputin sum it up...
Rasputin - Thu, Oct 29, 2009 - 02:15 PM
Well, I see deflation only lasts about thirty-six hours before...
...we go right back into "Weimar Meets Zimbabwe" mode.
It was just a few days ago that the deflationists were all
slapping "high fives" because it appeared--for about three days--that
the economy was slipping back into the abyss of collapse.
However, just as even Rasputin was beginning to throw in the towel
and go digging through the dumpster hoping to find his copy of "Conquer
the Crash" he threw in there seven months ago, the following takes
place:
1. The U.S. nightcrawler gets pounded right back into the mud where it belongs
2. Stock casinos are absolutely back on fire, filled with gamblers flinging fiatscos at any and all parlor games
3. The GDP (Grossly Distorted Product) number shows the economy
skyrocketing out of what was the "Great Disintegration I" a scant seven
months ago, and:
4. Buggy whips, silver spoons and Texas Tea (that would be oil for
those who never watched the "Beverly Hillbillies") are also continuing
their relentless march upward.
(Ras Conclusion):Wow, deflation is now down to being
measured in a few days or hours before the pedal is put back to the
metal and the reversion back to "Animal Spirits" is again the order of
the day.
And imagine how insane things will be when, not if, the Fed
announces "Quantitative Sleazing 2.0" and Uncle Sugar dreams up another
half-dozen programs, schemes and scams to move some more McMansions and
McAutos.
.................
Where do we go next? Its all in the hands of the Japanese housewives who have flat out given up on stocks and a 20-year bear market, and have now adopted trading currencies as their sole survivor strategy.
The poor dollar is getting rocked back and forth like one of those Gemini astronauts fighting a bad thruster back in the 1960's.
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GDP (Grossly Distorted Product)
Classic!
Dear Mr. RobotTrader,
I like the fact that you validate the point that I was trying to make yesterday. Based on the fact that I can keep my breasts. Do you think that it will be possible that you -using your Contributor powers- could publish this picture of a "dear" CNBC "friend":
http://img246.imageshack.us/img246/3238/michellecarusocabrera.jpg
Always yours,
Pam Anderson ,
RAY CHARLES COULD SEE THE TOTAL MANIPULATION BY THE FED AND THEIR EVIL MINIONS LED BY JPM AND GS.THE FED HAS TAKEN OFF THE MASK AND IS LAUGHING IN OUR FACES AND DARING YOU TO TRADE.
AT THE RATE THEY ARE GOING THEY WILL OWN CONTROLLING INTEREST IN THE FORTUNE FIVE HUNDRED AND MASSIVE REAL ESTATE HOLDINGS, ALL COURTESY OF AMERICAN GREENBACKS THAT COST 1/10 OF A CENT TO PRINT.
GUERILLA TRADERS DO NOT, I REPEAT, DO NOT STAND A CHANCE AGAINST THE COMMAND AND CONTROL STRUCTURE AVAILABLE TO THE PRIESTS OF THIS TEMPLE OF MAMMON. THE WHOLE HOUSE WILL HAVE TO BE PULLED DOWN.
THOMAS JEFFERSON 1791 " first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered."
" THEY THAT FORGET HISTORY ARE DOOMED TO REPEAT IT"
Peterson Says $1 Billion Goldman Gift Is Minimum to Calm Anger
http://www.bloomberg.com/apps/news?pid=20601088&sid=aIho8QZPFmec
I think Mr. Peterson underestimates just how much rage there is out there - now if it was $1billion for bail - that might work
That should be $1 Billion fiatscos per royally screwed US citizen... pre-devaluation.
Peterson looks old enough that he might remember when stealing wasn't the norm for Goldman. I am still fuming about that SOB that worked for the Fed and turned around and bought all that GS stock. That is insider trading at its utmost and the absolute replica of what a human pig looks like. $1 billion is less than the interest break GS is getting on the government guaranteed paper it is riding. The day they fold, the arrest warrants need to go out for the entire firm, starting with the top.
Execution without trial is more like it.
Exactly - 'Arrest warrant'? Why throw good paper after bad?
They can take that $1 billion and shove it up their collective asses.
They will and drape it on the their favorite pole dancers.
Hahaha
Fiatsco, meet goat.se
It'll take awhile to do that disbursement. First you have to position captured entities loved ones onto boards, executive positions and advisory roles for the selected benefiaries of the philanthropic largesse. Nothing but a shady kickback program.
A BILLION!
WE WANT THEIR FUCKING HEADS!!!
It's called creating circumstances, a propaganda tool mastered by a few, the chosen, to ring micro profits out of each share of billions traded.
I've never been an active trader, and in this environment I think you'd have to be certifiably insane or privy to inside information to make a go of it. The game was so cynically obvious this week it's just sad.
I'll sum it up. The mood in the US isn't for more of the same and the nighcrawler happens to be needed for people here to eat and for the rest of the world to pretend they have anything. Japan sat in the crapper while the rest of the world went to town once it had run out of cutting room and the US is headed the same direction. Notice that everything goes the way it has been going on the reflation idea, which means a good US economy is bad for the dollar. Since when was that the case? They still haven't decided who is going to take the haircut and it is clear the haircut is going to be a $2 trillion tax increase along all governments in the US and another $5 trillion for the rest of the world. Otherwise, we merely are going to end up with more debt and a bigger deflation. In the meantime, they have gumbo in Louisiana and evidently they put it out in the BLS too. As far as Goldman goes, trading against their public statements is probably profitable. One of these days they will all be sharing an address with Bernie Madoff.
One of these days they'll be sharing a room with David Alger.
Wildebeests shaking the PigMan!
...
ROTFLMFAO!!!
rasputin is the best - he would make a great contributor here
he posts frequently at wallstreetbear
http://wallstreetbear.com/board/view.php?topic=62638&post=209057
two must watch vids
Niall Ferguson, Ken Rogoff: Bloomberg Surveillance Panel October 28 - 49 minutes
http://www.bloomberg.com/avp/avp.htm?N=video&T=Ferguson%2C%20Rogoff%3A%20Bloomberg%20Surveillance%20Panel%20&clipSRC=mms://media2.bloomberg.com/cache/v3t.mGTZrnYU.asf
and
Martin Feldstein (President Emeritus NBER) Oct 28 on double dip recession
http://watch.bnn.ca/#clip228670 (part 1) 11 minutes
http://watch.bnn.ca/#clip228671 (part 2) 9 minutes
I hope you posted this with tongue in cheek. Feldstein says Goldman wasn't bailed out by the Feds. Right. LMAO. This nimwit is a Harvard prof. What a joke. Why am I not shocked?
Where is the Great Mogambo when you need him?
I miss the Mogambo. This investing stuff is easy!
Here's an interesting chart...
Either my reply rights have been suspended or something funky is going on...
edit: %X technical dificulties on my end....
Still upward but slowing down.
Why seek profit in a stock, bond, or derivative market in the USA. It would be better to seek virtue in a streetwalker, abstemiousness in a glutton, humility in the Hamptons. Easier to find nourishment in mud, health in a leper's den, and sweet water in a typhus washroom.
It is over. The past innocent age where mankinds productive excess was passed along to coinvestors of capital are long gone. Far too many middle men muddling the transactions. Far too many insiders unchecked by law or ethics to keep from conniving away what value might remain.
You are watching an empty husk of capital structure cannibalize itself aiding the decay with a host of corrupt and conspiratorial evil men whose product is intrigue, misinformation, mindgames, trickery.
To many invading locusts with too few kernels of grain in this harvest.
As it seems to play in slow motion, little does mankind see how low we have become. We will be brought even lower until the wealth mirage vanishes, and men learn to be productive, serve others, lend and borrow on true terms. A famine is coming and is here.
It is famine of good government, and good men.
Heavy.
PCLN ramping $6, replacing SGP in the Spooks 500
Just add gold and gold miners to your portfolios on any pull back.
Have been doing that since May and it works.
The rest of my trades are shit. But the gold play makes up for it.
Max out all cc's if you need to. The only direction for gold is up.
Bingo. Bought another f--kload of Gold and Gold stocks yesterday amidst all the deflation hysteria. Deflationists after all do have a purpose - they are a great buy signal for Gold.
Why would you add to gold holdings when it fell $40 with a 300 pip correction in an oversold USD? It just proved that fundamental support isn't there for gold above 1000.
You knock the deflationists but at least we are seeing deflation. Inflation hype is just that. Hype.
Chinese solar stocks were on fire today! Canadian Solar (CSIQ) led the way but many others made strong gains. Only First Solar (FSLR) was down, but this stock was bought heavily today. It might fall further but watch it snap back. It remains the leader in the sector butit might be losing market share. Stay tuned because when the solar sector heast up, it really heats up.
Dow and SP futures touching into negative territory. Was there an after market sell off post the most amazing GPD numbers?
This what it must have been like to be a bear today...
http://www.youtube.com/watch?v=LH9K74IFX80
This is an august group ... yet no mention of peak oil ...
for sometime, not a theory but a simple fact, worldwide
production is in decline and the decline is accelerating.
Which leaves some interesting alternatives to the yellow metal.
The US is still the "Saudi Arabia" of coal, and
the decline of the US dollar, especially against the
Aussie, has reached the point where shipping
appalachian coal through Panama to China is
worthwhile ...
I hope the boys in Manhatten are paying attention ...
they are liable to find themselves working underground
in a few years ....
Uh, China has plenty of coal itself, and what wants to import can be obtained more cheaply from Russia and Australia.
Republicans still trying to kill solar energy here; it would be weird if the only way Obama could get it done was to hire Chinese firms.
Much of what I read here at ZH goes straight over my head especially the charts. Coming from the UK doesn't help, and the fact that we are not in such bad shape... Yet!
I feel many of the problems you are having, over your side of the pond, and this item hits the spot with me.
I just don't see how the world is going to come out of this mess. I wonder how long it will be, before under employed Americans start to kick off. It's as if you are being played with, waiting for the slumbering giant to wake up, and dish out punishment.
In the UK we have a tradition of pantomime. This whole thing smacks at the tale of Jack and the Beanstalk but with no "... and they lived happily ever after".
The only retribution I can see taking place, is revolution. There will be nothing left when the edifice finally comes tumbling down.
There is nothing left ... $74 Trillion in assets - $106 Trillion in Liabilities = minus $32 Trillion
We're not in such bad shape??? You are actually IN the UK rather than from the UK. I'm looking out of my window and it's easily as bad as it is in the US.
Have to agree with you that it's going to get worse though but hey, that's what you get if you vote the socialists in 3 times.
Much of what I read here at ZH goes straight over my head especially the charts. Coming from the UK doesn't help, and the fact that we are not in such bad shape... Yet!
I feel many of the problems you are having, over your side of the pond, and this item hits the spot with me.
I just don't see how the world is going to come out of this mess. I wonder how long it will be, before under employed Americans start to kick off. It's as if you are being played with, waiting for the slumbering giant to wake up, and dish out punishment.
In the UK we have a tradition of pantomime. This whole thing smacks at the tale of Jack and the Beanstalk but with no "... and they lived happily ever after".
The only retribution I can see taking place, is revolution. There will be nothing left when the edifice finally comes tumbling down.
Comical, really comical what GS is doing to the American people, and not just those who own shares. It seems the more the populace hates it, the more the squid resolves to screw the masses in whatever way it can come up with - no rules, no laws.
History points us to clear signs of an empire near its end, gripped at its throat by a small internal band of obsessive profiteers. I agree with ft65, revolution seems inevitable within several years.
Yes, it looks like it was a short term bear trap so that they can buy on the cheap. Like it has been for the last seven months.
But medium term (over the next couple of months) it may not be as easy to repeat, as I believe a rising US dollar due to GDP numbers will cap it. In fact, the Saudi announcement may have well be timed to come out yesterday, so that dollar strength is capped and the market rallies.
time123
admin: http://invetrics.com
Like all declining Empires from the past, the self-appointed elite, lead by Goldman and crooks, have deaf ears to the growing demand for radical change.
The media is largely controlled- whether it is the New York Times or Fox, their common theme is how to regulate or not regulate these gluttonous vermin; not about how to chop these monsters into competitive entities.
So long as politicians continue to be bought and sold by GS and their ilk, I fear their illegitimate existence will end in blood.
Hello,
The first thing I'd like to know about is, who is that most beautiful woman in your header. Hopefully that is your wife?
Secondly, a nation begins as a republic, transforms to a democracy then finally it succombs to dictatorship.
Lastly how do we overcome the fact the have nots will demand we discontinue all of the markets we enjoy, transfer wealth to them and go away some day?
Your point is valid, but one clarification -- there are essentially no "have nots" in the U.S. There are only the "haves" and the "have less." Folks need to travel abroad to get a sense for what "have nots" look like.
Not sure who coined this gem, but it is now a class war between the "haves" and the "has yachts"..........
This site's over pre-occupation with all things Goldman Sachs reminds me of Colonel Flagg on MASH. Beyond paranoid.
Stipulating it is all true, then since you are pretty sure what GS is up to, trade on it and you will be very profitable.
Flagg claims that he is either with the CIA, the CIC, or the CID, depending on who he's dealing with unless he says he is with the DIA just to make you think he is with the CIA.
“We've got files on people who haven't even been born.”
This one is easy. when Go(l)d-man speaks, pretend it's opposite day and then play their move.
they say sell, buy it all the way down. They say buy, sell it all the way up.
Of course, we could just "dismantle" Yankee stadium. I bet that would throw a wrench into the plan.
Ah, what a difference a day makes! Yesterday's euphoria has already switched to despair, and on much higher volume. And once again, news of the death of the dollar turns out to be premature.
Also, don't forget, yesterday was (presumably) the last market-pumping POMO.
.
...we go right back into "Weimar Meets Zimbabwe" mode.
Greece during WWII has the absolute record.
Don't ignore the Classics!!
George from Athens
.
.
...we go right back into "Weimar Meets Zimbabwe" mode.
Greece during WWII has the absolute record.
Don't ignore the Classics!!
George from Athens
.