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Credit Is Now Completely Ignoring The Ridiculous No Volume Equity Melt Up, At Two Week Wides
If one were to think that the market is determined exclusively by the predominantly retarded action in equities over the past months or so, it would appear we have now fully entered the insanity dot com days, where each day could easily be the rally's last, yet with shorts terrified of being steamrolled by the fine upstanding market manipulators at Liberty 33, the possibility of the Dow hitting 36,000 is distincitly realistic (only to be followed by Dow 0, and a Marsian bail out). What is notable, however, is that credit, which is and always has been the rational market, has not only bought this most recent melt up, but over the past week has in fact retrenched. Not only is credit weaker compared to its January tights, but is also at its widest over the past two weeks, just as equities were set to go parabolic on no volume and on giddy algos, already seeing themselves buying their third summer house in Binaryhampton.
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What is IG?
IG = investment grade
HY = high yield
Investment Grade (debt).
C'mon, man... keep up!
LOL
Assetman, if we can't expect our fearless Congress critters to keep up, why would we expect ZH'ers to do so? I mean, this is rocket science, right? At least that's what we're told by Congress. This is like, big brain stuff, much more complicated than 2 + 2 = 5, which is how they do the math when they work up the budget each year.
<sarcasm off>
CD... I didn't understand a damn word you said.
<sarcasm off>
Assetman, where did you grab the picture you're using for your avatar? Is there a link? I want to use it as computer wall paper, thou I will put a bulls-eye on his back.
It's from Timmy's match.com profile.
lol
I wish Thisson were correct...
... but I just grabbed it from a search on Google Images.
You might look there... and if you're lucky you can find more of an ass shot than I could find. ;)
LOL
Found one, but he has no ass. Flat as a board.
http://cache4.asset-cache.net/xc/84480956.jpg?v=1&c=IWSAsset&k=2&d=77BFBA49EF8789215ABF3343C02EA548185DFBADBEF2587F1FC5E66D65D6278E021AC9C6A666FF0CE30A760B0D811297
This one is fun.
http://static.open.salon.com/files/j_geithner_ness_final1234385209.jpg
The Hulk may wish to look at this one.
http://www.meltingpotproject.com/.a/6a00e5501bb44a88330120a51e5003970c-800wi
When he was sworn in, side view.
http://media.syracuse.com/post-standard/photo/12b11f73af25789db1868327559c1010_custom_665xauto.jpg
Just Brilliant.
http://2.bp.blogspot.com/_v81YUTe-7Bs/SdN2NY3_dvI/AAAAAAAABGA/zs02t0KOKOI/s400/geithner_hypocrisy.bmp
LOL... very nice.
LOL, Geithner's head would look more natural and be a better fit on the abomination!
CD,
I know you were salting in the sarcasm, but I wanted to set you straight on your math, as I have spoken to the folks at FASB, and they gave me a full education on accounting standards used in all of corporate America, including .gov.
You see, 2+2 does = 5 for extremely large values of 2. A narrower "grade school" view might lead you to believe that we could only get to 4 when dealing in 2's, but a professional's treatment rests on the fact that numbers (including integers) are continuous functions. Two is not JUST 2.0, but it also incorporates all values to 2.99999. Heck, we can add 2+2 and get 5.99996, which when rounded = 6.
Market valuations, MBS, loan portfolios and the infinite array of investment securities can all be understood using this approach.
2.9999 would be rounded to 3
2.4999 would be a "high value of 2" and the sub would be 4.9998 = 5
thinking about it, it makes sense, too bad most sheeple get lost on the way ...
I want both of you guys to do my taxes but only if you also do the time. :>)
Hey, it works for the oil companies, it can work for you too! (Gasoline here is $2.799 regular unleaded).
Sounds like the next Nobel prize winning financial scheme...I mean financial innovation.
Here is a great book to have nearby for the newly curious.
http://www.amazon.com/Wall-Street-Words-Investment-Investor/dp/0618176519#noop
Wall street Words, from A-Z by David L Scott
If the man on the street did not believe that the market is a rigged game in the past he must now begin to see the truth. (Blue pill) Give me a P, give me an O, give me a N, give me a Z, give me an I, what does it spell:
PONZI, PONZI, PONZI......
hey mr. hedge, you don't mind if i comment on everything you say. you keep my sanity. what is the solution to the problem at hand?
Put Glass-Steagal back into law. Stop big investment banks from trading and rigging this jjoke of a "market".
Speaking of manipulation, go to Kitco.com right now and witness the farce that is the gold market.
I totally agree! What the hell happened?
This might explain part of it:
"The Treasury Department, as expected, said it will sell $44 billion in two-year notes, $42 billion in five-year debt, and $32 billion in seven-year notes next week. The amounts matched what it sold in February as the government sought to finance its huge deficit."
http://www.reuters.com/article/idUSN1844263220100318
So by issuing more debt gold went down? Can't be...but who knows these days? Everything is counter-intuitive and never makes sense.
It's management of perception. We don't want investors buying gold now do we? My, my look at how terrible it's doing today. Must be in a bubble hmmmm? I'm putting my money in safe haven toilet paper.
gold is gold, if you have it, why worry the price of it.
I never worry about the price of water and its precious too.
The true value of gold is unknown in this type of climate. All numbers are suspect since the manipulation has started.
Running out of cash i sold 20 oz of silver yesterday. I got 18.00 per oz. Spot was 17.16 at the time.
So to sum up.... The secretive Treasury buyers are naked shorting Gold to finance Treasuries. Makes perfect sense, sell infinite paper Gold to keep price down and buy Treasuries to keep interest rate down.
Please ask them to naked short a lot more gold, say till it gets down to $250 or so, so I can load up. $1100+ is pretty pricey, even if it's worth more than that.
Reminds me of the underground train announcer
"Please mind the gap when getting on and off the train"
risk off in the morning -> sell bonds -> risk on in the afternoon
Wash, rinse, repeat today? We'll see. What wil be the over/under?
I have noticed the same exact pattern every Friday over the past three weeks or so. Sell-off in the morning followed by a trickle-up to the unchanged mark by the close. Like clock work week in week out!
The same thing will happen today!
Could this be it?An actual down day?Someone has got it wrong,either the market is discounting enormous profits that analysts have missed,or by now Benny and the Squids must own over half the market,and my only question is this,having been the only buyers on the way up,who the hell are they going to sell to on the way down?
Here's a trading strategy posted first on ZH.
We all know the stock market has been propped. Has to be with help of big banks/market makers.....no question.
Finally getting around to some serious (maybe) legislation to curb their power. Why do you think it has taken so long?
Big banks don't like this very much. Let's say they let the market slide down a fair ways to send a message to Dodd and others. Don't mess with us? Believe the last sell off coincided with Obama's tough talk against GS and others. Then a few days later he said he didn't have anything against the bankers making good money. Market recovered.
If Dodd is really trying to push reform, the banks will issue their reply.
The FED and their primary dealers basically took a page out of Jim Cramer's market manipulation page which the arroganto has detailed on Video.
http://funy1.blogspot.com/2010/03/how-long-before-fed-after-hours-ponzi....
Equities are ignoring the rallying dollar.
EURO has resumed it's downtrend.
Wait til the USD rally really gets going ...
http://tinyurl.com/yey34g4
i agree and the best part about the dollar rallying is the talking heads don't understand why
until about 20 min ago
s AND p NEARLY 0.5 PERCENT down
excessive cheap money lets everyone ignore fundamentals. we at zero hedge know this, but our shit at the Fed doeesn't.
Dont worry the PPT is tasked with making enough trading profits to fund the budget shortfalls, cover the trade gap and make sure Warrens derivative trades stay on side - so nothing but blue sky from here. PIIGS, Latvia, build up in the Gulf and then there is Gordon about to be re-elected.... no problem all is well.
Sorry I don't think anyone can say there is a correlation between currencies and the market anymore,first it was the Yen carry,then EUR/USD then it was the $/Y then it was just the dollar is weak so the market is up,then the market carried on going up even when the dollar went up.
I just think somewhere today a bell has been rung.
Relax folks, this is your typical garden variety equity mania going on fueled by cheap money. It will end when the cheap money ends or some other exogenous factor blows its bubble. When it blows, we'll see another depressive period when assets are devalued & liquidated. Nothing new under the sun...
like an every so subtle coronary artery constricting...tick tock
everyone needs to stop hyper-ventillating today. its a quadruple witching near quarter end, DOW will resume trajectory to hit 36k on Monday.
ok. maybe there is not a solution to the problem.
does anyone else feel like they are in the twilight zone?
we live in two worlds . Reality and the world of lies. Turn off the tv. Go out side and take a deep breath. Water the garden.
I think the market is headed lower. The big banks are pissed at the Dodd bill. They are going to give Congress a scare.
i was wondering this morning:
is a contract valid if a psycopath is the counterparty?
Are you having trouble with your spouse?
Nothing to see here. Buy the dips, sell the rips.
Big boys will accomplish two things with solid sell off (it will be fairly slow though, don't want to alarm the peasants). First, foremost, send message to Dodd they don't want their panties wadded up. Second, will help refute correct insights that market is rigged. I'm expecting a decline to 1056 on the S&P over the next 3 weeks. That is unless Dodd caves early. If Dodd holds, then they'll try and scare with a dip below.
Downside though is loss of some pavlovian training for all the day traders conditioned to buy the dips. That's okay, they'll get them back in line later.
The black swan event from this is if peasants freak and mass selling occurs. Then all bets are off. That is why the sell down will be slow/controlled. But they will make their point.
Anybody willing to risk the trade?
...Binaryhampton
LMFAO
I know its quadruple spring cleaning,shake the tree day but lets see if the Squid wants 1152 on the ES to hold..................
I (heart) short TBT bitches.
Everyone's always talking about how GS and JPM are jerking this market off. What about Blackrock? I think those fuckers are totally in on this massive equity reach-around. Not enough digging on those shady fuckers IMO. Especially that chubby fuck they always send over to CNBC to discuss how to further destroy American retirement funds.
Blackrock = EVIL. Let the campaign begin.
well, what WERE you expecting with a name like 'Blackrock'? I guess they figured 'AntiChrist' would be TOO obvious...!
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