This page has been archived and commenting is disabled.
Consumer Confidence Jumps To 53.5 In August From 51.0; Stocks Explode As Confidence Is 23 Points Below 5 Year Average
Consumer confidence comes in at 53.5 in August versus 51.0 in July: somehow the fact that the economy officially double dipped in the month was lost on the 6 or 7 top CEO respondents in the Conference Board rolodex. Just one word can explain this one: Lol. At least the idiots at the CoCo retardo institute made their tail wags dog shell game seem just a little credible by declining the read on the job plentiful from 4.3 to 3.8, and there was even a decline in the jobs hard to get category from 45.8 to 45.7... but somehow confidence was higher. Enjoy your bizarro day trading.
Below is the chart of consumer confidence coming in 23 points below the 5 year average. Green shoots indeed... if by confidence one measures just how sure consumers are they are about to get royally raped.
»
- 4807 reads
- Printer-friendly version
- Send to friend
- advertisements -
"Reality is what I tell you it is"
Ben Bernanke circa 2010
Tyler, this is what happens when you only survey masochists at the national bondage/discipline clubs.
Recession? What recession???
BUY!BUY!BUY!
Relax Tyler, smoke more hopium. Ever little ting's gonna be ah'right.
Grandpa got burnt.
Is he gong to be alright?
I don't think so.
Why not?
Well they don't fuck around at the crematorium.
It's too much pain and insecurity to feed the idealism any more. Shit's getting real.
Just noise. Gold will take a hit. I buy some. And have another Orval.
Doesn't look like much of one: http://www.kitco.com/charts/livegold.html
Guess the algos are programmed up hard on a beat regardless of whether the world is ending or not. It's all relative! LOL.
Rally on because the summer clearence sales are rockin! The Mrs. bagged several Izod shirts normally $30-$40 for $5-$10. What normally costs us $400-$500 to outfit the 3 kids...cost under $200. Makes me positive on the consumption side.
Are those the clearance sales to clear the way for the winter stock, or the clearance sales because the retailer is bust?
Yes would be the answer....plenty of retail space avaiable here.
Living in Florida...there really isn't much difference between summer and fall.
Yes there is. The lizards run 5 percent faster in the summer.
Izod is shit, not worth $10.
everything is shit actually, except using real cotton, wool, cashmere, silk etc. like the weavers in The Emperor Wears No Clothes. great story Hans C Anderson.
G R E A T
Stocks "had" to explode up since they touched the 1040 support line. The technicals said so.....
Here's a good stock for you Pfizer, yep buy a ton because I just ordered cases upon cases of Prep H as I am currently taking it in the proverbial with this b/s market.
Dow FV as low as 44 overnite, and ccccaaaboommmmm. upshegoes... need somma dat rocket fuel.
Seriously, you have to trade the information regardless if you liked or not, if it is manipulated or not. It is clear that the 1040 will be defended at all costs. Shorting this market now is suicide. You need to wait for the next bunch of bad news.
I saw the future plunge last night so I am fully expecting and prepared for a failure of 1040 today and an algo pukefest. If markets are supposed to be forward looking they surely have to be looking toward weakening numbers for the economy.
Since computers took over the market, its forward looking nature has been reduced to t+60 mins (give or take 55 mins).
Paradigm shift. Get with the program, or get bent over by the program.
Yup. Failed banks have been turned into government sponsored trading houses using taxpayer money to fund trades and cover any losses. All meaningful retail traders have been squeezed out. With that situation I can confidently say "There is no market".
Stocks explode? Hyperbole is good for spicing things up, at least to some limit, but describing being up 5 pts on the S&P as an explosion is way past that limit and well into silly-land.
with no one left to trade but HAL 9000 vs HAL 2000 shorts will be fried, monthend too so Fidelity and Vanguard throw a few 100 shares in there to boost the ME mark....
Right, shorts only will be fried, 'longs' somehow are always ok. Yea.
Ben Bernanke and the financial oligarchs are short ZH! Keep buying them dips, ZHOUAH!
Oh my God Leo you are such a butt plug.
Here is something else for you shorties to ponder, what if they "manufacture" better than expected NFP figures this Friday? A total stock meltup will ensue. I'm not predicting it's going to happen, but it's risky shorting this market. Permabears beware.
It's risky to be in the same room as this market. Get out while you still can.
Yup. If you're retail trader, you're thrown into a cage with an 800lb gorilla called "The Mangler". You may win 1 or 2, but lose you will when HFT ensures that they cheat you coming and going.
Like coming between Chuck Schumer and a video camera!
Very dangerous.
You have been talking about 'liquidity tsunami' meltups all year, and we are flat. Boring, Leo.
the only difference between a permabear and a permabull is the second half of the word
.
Never short in terms of dollars, as they are being diluted at a rapid pace. Shorts in terms of metals are doing quite well, however.
I hope, for your clients, you already dumped it as it is falling off a cliff now.
I only answer to one client, me!
I thought you were the last truly altruistic person on the planet...
They need a mascot Leo
http://en.wikipedia.org/wiki/File:Pets.com_sockpuppet.jpg
I imagine the 6 CEOs that were surveyed were Larry Fink, Blackrock - Lloyd Blankfein, GS - John Mack, Morgan Stanley - Vikram Pandit, Citibank - Jamie Dimon, JP Morgan - Robert Dudley, BP - because they are all very confident that if they screw up Bennie & the Timms will throw more $$$$ at them -
I want to short /ES up around 1055ish but my self diagnosed ADD raddled brain keeps whispering don't do it what with the IMF about to bail the world on an unlimited credit line *sigh*
+1,000 - Game, Set, Match --> WWBBD? What would Ben Bernacke Do?
Shld get up to 58-60 ifn the algos any good on no volume today
Fake Data manufactured for the mainstream media. Bloomberg, MSNBC and CNBC to scream 'Glory glory Halleluyah' in 3.....2.....1....
The data was generated to "hide" the ramp in plain site...otherwise the commentators would have an oh shit moment and the gig would be up...
Precisely my thoughts, it's just a way to make the highly improbable somewhat 'plausible'. It's just a sleight-of-hand bullshit move, as usual.
rally, bitchez
Just wait until the FOMC Minutes are released later today and the concerns of unexpected uncertainty are spun into favorable futures fantasies. "Ben is just a worry-wort", Larry Kudlow and Steve Liesman will be quoted as saying.
confidence up from terminal to comatose
Well my Miners are doing great, up days or down lately, it doesn't seem to matter. These guys plus FAZ have been most welcome additions to the speculative portion of my portfolio.
Who says there aren't money making opportunities in this market? Only those who don't know about or don't play in the Junior Resource space. Catch the right exploration outfit at the right time and watch the price rise. Think I'm kidding? Check out the 60 day charts on a few of the primo outfits:
Timmins Gold (TMGOF)
Silverquest (SQIFF)
Alexco Resource (AXU)
Almaden Minerals (AAU)
Just become aware of when players like this plan to release the assay results of ongoing explorative drilling programs. Buy the right ones and hold until they double. At that point sell half your position and either pay bills, invest in another "drill spec" player with results upcoming, or better, use it to buy physical gold and silver to help grow that asset class. You're creating a feeder mechanism to use as you see fit. I buy metal with it and own more than I would have if I didn't play the miners like this. Either keep or lift and shift your original position as that Miner's outlook dictates.
Please look into this sector for yourselves, I think you'll be floored to see the ongoing opportunities and returns from select players. Many other EXCELLENT drill spec prospects can be bought low right now, so if you like what you see get onboard now prior to their next moves up. These guys look particularly good:
Otis Gold will shortly release drill results (OGLDF) $0.42 p/s
Northern Tiger Resources is beginning to move up (NTGSF) $0.32
ATAC Resources (ATADF) is $2.50 p/s, has very strong prospects
I own all of the above except for ATAC. I'll own them too but they've been a 3 week tear so I'm waiting for a lower pps to jump in there.
Good luck all, this strategy IS a way to see gains in this "market". In your face, HFT.
i bought thousand of dollars worth of Almaden Minerals (AAU). didn't do shit and went down. did research looked pretty sound out of canada, right. lost BIG bucks. just can't tell any more what will hold value. no more for me.
Kathy, very sorry to hear about your AAU experience, yeah, that IS a turnoff! This explorer strategy is very much a matter of gathering good info and then timing WHEN to buy and WHEN to sell.
AAU was .90 cents 2 months ago, and as of right now it sits at $2.23!
I mean there it is in black and white. If that's not a good example of the returns available and the benefit of watching these guys, I don't know what is!
Give it another try using the guidelines I mentioned. Go with Northern Tiger...
no thanks, no more stock buying fore me. i will just kill myself when i run out of my money. i don't care. but happy fore U arrested. good luck in your trades.
OK, so now the HFT Ponzi arb computers are running the CoCo index. If the stock market is up 3% then CoCo must be up 3%.
Seems logical to me .... the reading must have been taken mid month.
Don't expect sustained rallies, don't expect plunges. The big failed banks have been turned into zombies that don't lend. So they've turned to trading to keep their big pay packages. They make money playing Ping Pong with the indices. Guess who they've got to cannibalize to turn a profit??
Here is another take: Banks are lending but no one wants debt.
Correct you are. The NYFRB does the heavy lifting, the banks tag along, more free money for the banks. Yes the banks front run the NY Fed every day. This is how the steal, and it's all done right under our nose.
TD, this site continues to be the best out there. But, your hyperventilating posts over the supposed disappearance of Zhou necessitates you writing an update post about how it was fake.
americans, ridiculous people. hopium is right. numbers, you L I E !
The index futures must move near 1.00% per 24hr for the banks to suck out trading profits. The Dow mini futures contract moves 100 points a day 99% of the time.
The confidence game continues apace..
Article is very interesting,thanks for your sharing.I will visit this site.welcome to my site!.... cheap site hosting
windows web hosting
windows vps hosting