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Dallas Fed Plunges, Down -17.5 On Expectations Of Increase To -3.2 From -7.4
The collapse in the manufacturing base continues: the Dallas Fed general business activity index just printed at a whopping -17.5 on expectations of -3.2, number that was supposed to be a gain from before, and yet another confirmation that Wall Steet is populated by a bunch of illiterate lemmings. From the report: "Perceptions of general business conditions were mixed in June. The general business activity index pushed further negative, falling from –7.4 to –17.5. Twenty-eight percent of respondents said activity weakened this month, the highest share in nine months. However, the company outlook index rose from 3.2 to 7.2, suggesting manufacturers were more optimistic about their firms’ prospects for the near future." Ah, back to consuming hopium. We wonder how many of these manfucturers were optimistic back in Q1 when the the index was printing in the 20 range only to see a near-historic collapse. We are now certain the ISM will pring sub-50, with a print as low as 46 most certainly possibly.
Dallas Fed in context:
And the key indicators:
h/t John Lohman
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Where's the deer image?
And the market takes off upward? That is the deer image. Right?
That was before the news, but yes, I wouldn't be surprised if they start stampeding higher from here.
Starvation, It's what's for dinner.
Yes, but just let us finish feasting on this POMO first.
And the Pavlov Dogs on Wall Street buy
Think we'll make it to 2PM before we roll over?
Well we've been retracing the 11,800-12,400 range for about 6 months now, wash rinse repeat.
bullish... market screams higher on vapor volume
'Screaming higher' to just back over 12,000 for about the 50th time this year? Bunch of crap is all it is.
to infinity and beyond
BUY damnit BUY!
Btfd more printing to come.
Uh-Oh
up up and away
Where was the Dallas Fed thingy on today's Economic Data Docket ?
Is there an orthographical error in the headline ?
kick ass
Meanwhile, homebuilders like PHM and the crappiest banks like BAC are going vertical today.
Obummer must be getting ready to hand out checks to prospective homebuyers or something.
Brilliant Dick Bove upgraded BAC today.
Reason for strength probably has something to do with certain HF's being long the POS, into the end of Q2 and their 2&20 being threatened. WINDOW DRESSING. Just speculation on my part.
Summer of recovery second year. lol!!
WTI had broken $90 earlier today, I'm expecting it to break it again near EOD. Any ideas on EUR surge? SPX and EUR/USD seem to be moving tick for tick at the moment. Guessing apparently it is all tied into the Supreme Court ruling on violent video games. What's good for sales of violent video games is good for SPX and EUR.
The answer to your question:
Virtually thousands upon thousands of leveraged hedge funds and FX traders are all gunning the exact same shit day in and day out. And these guys are powerchugging Red Bull and Monster Energy, constantly looking over their shoulders to see what the rest of the Wildebeest herd is doing.
Doesn't matter if you trade gold, Euros, oil, or ES futures, its all the exact same thing.
First, I thought PBoC was buying hand over fist. No I am guessing HF's closing EUR shorts in preparation of US debt ceiling being raised and USD falling like a stone.
France's "deal" to accept longer maturity on a rollover is probably a contributor too, but it's asinine since chances are the rating Agencies will still call it a default, and it doesn't fix the underlying problem. Oh, and we still have that little austerity vote on Wednesday.
We'll probably kick the grenade down the road, but it's just delaying the inevitable. Nice opportunity to make some money for a few weeks, then we'll do this all over again except with harsher terms.
Wow. An actual contribution to the discussion that didn't include a "General Jim" reference.
More of this please.
wierd. the time stamp on this response by robotard was before the original post? 10:46 response versus 10:47 post. maybe there was an edit by firstdiv.
I was going to edit it to add something, but Robo had responded too quick and I was denied my edit.
thanks for the update. much appreciated.
i know robottrader is a troll / fraud. but something isn't right.
The Robo is right, it's all just something to get more of than the next guy for now. I am beginning to wonder if we will ever see a time when the gunners will want less than the next guy.
Who cares about WTI, Brent above 105. OIL won't stay that
low for long.
Absolute worst economy in 30 years and Hansen's Natural has run from $20 to $80 with no pullbacks whatsoever.
Must be a huge number of gallons chugged by Wall St. traders and FX traders on a daily basis.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=hans&ins...
how can one man make 3 posts in 2 minutes, one of which was a response to another poster's thought / question, and with links to another website on one of the posts. 10:44, 10:45, 10:46. it's taken me about 2 minutes or so just to organize my thoughts and post this.
The better question would be why is his second post actually time stamped before the first post?
First Post:
http://www.zerohedge.com/article/dallas-fed-plunges-down-175-expectations-od-32-drop#comment-1405360
Second Post:
http://www.zerohedge.com/article/dallas-fed-plunges-down-175-expectations-od-32-drop#comment-1405367
fuu, great minds think alike. i just posted a comment on your post. something's up. maybe first div edited. but something smells fishy.
That is how front running works!
no headline on Yahoo Finance
no headling on Bloomberg
no headline on MarketWatch
equities going higher
If nobody reports it does it means it isn't real?
U.S. economy is now the Euro. The lower earnings will be offset by more paper dilution of the USD. Go America
Kick out the Bernank and join the Draghi party...your Euro could have Washington / Weishaupt on the reverse...rest assured Frankfurt might not be pleased with Andrew Jackson, but who knows.
What would the investing public say if Bloomberg were to write "Stocks Up on Totally HFT Algo-driven Rally" or "Hft's Wring Every Last Buck from Pomo as Economy Deteriorates"?
Priced in.
Greece is the word. Get behind it, and you too will be saved!
<sarc on>
Greece, the media focus like a laser beam on the tiny tempest in a teapot, while the Cat 5 hurricane bears down behind us.
Siemens erecting wind park in Irish Sea - around 390 megawatt
300000 British homes to be supplied with renewable energy.
Park to be finished in 2014.
Rule of thumb: 1 MW on sea costs 1.5 - 2.0 million Euros.
http://www.ariva.de/news/Siemens-baut-Windpark-in-irischer-See-rund-390-...
Während andere quatschen machen wir Nägel mit Köpfen.
While others just talk we create "nails with heads" aka real change.
A-hahahahaha !
Btw, Siemens CEO Peter Löscher attended this and last year's Bilderberg meeting.
Average energy production for these wind parks is aout 30%.
That makes this project around 2B euro. Given that the expected lifetimes are 20 years, that would be a projected expense for 130 MWH/year of 100M euro/year.
I would expect that maintenance will be much higher, perhaps with a lifetime of 5 to 10 years. Salt spray is amazing in what it can damage. Throw in a couple of freezing storms.
This sounds very Bullish.
I wonderd what good news lifted the Dow Jones today.
Fucking retards.
Totaly bullish, Pavlovs market crackheads sense more free Hefty bags full of crack rocks and go apeshit. I say, 'whatever'.
This is pretty f**ed up.
And the market pushes higher on EUR strength, because all celebrating turning SHIT into AAA.
Under French bank proposal ESEF is going to guarantee Greek bonds. Giving said bonds a AAA credit rating.
In effect the EU is going to gurantee Greek bonds. One assumes European governments are becoming more comfortable with the idea of the euro zone becoming a transfer union as well as a common currency.
One wonders how the citizens of Germany will react to become the transfer mechanism in the union?
Git your hot gyro gilts here !
http://www.efsf.europa.eu/investor_relations/disclaimer.htm
Ever feel like Greece is just a distraction to keep markets from focusing on Ireland and Portugal? Italy got a little blup in the headlines last week, but now no chatter.
Ever get the feeling Greece Portugal Ireland is all just a diversion from the fact that the US is thousands of times worse than all of them put together?
Yes. All the time..
Must be the "asteriod missed us we are saved" rally.
Central banksters JUST about at the point of pulling the rug out again, just when theyve conditioned everyone into assuming theyll keep printing and pumping for the sake of paper stock stability. Totaly wrong answer there people.
Now, that is a bubble Robo.
If there was no stimulus package around the corner this market would
be under 10,000 already.
Everyone knows it's coming!
Step one: Raise debt ceiling
Step two: Next stimulus package.
Rince and repeat. Do the Cha Cha Cha!
Fooling everyone. Its not an autobahn, its a dead end street. The plan has never been endless bailing out, the plan has been to get to a certain point to pull the rug out from pensions and 401K's, bankrupting the poeple, ushering in 1 world govt, 1 currency.
My Dad's investment guy is confident the market will be up....wait for it, fifteen percent by years end! I got him to sell 1/4 of his stuff, I think he thinks I've become one of "them", which is to say - one of "you"! I know who he's gonna call first when his world takes a Bernank.
And we're back to - The Market Doesn't Care How Bad everything is - Buy The DIP! Because earnings season is near and all companies will report great earnings regardless of how bad the economy is.
Theyve got everyone right where they want em, assuming no matter what happens, more free money is just ahead flowing in supporting their worthless bubble stocks. The big crash coming right when no one expects it, on a big up day most likely.
Markets are rallied because that chart above practically
guarantees QE3 rather sooner, than later. This time it's going
to be massive with support from UK and possibly EC.
Massive money flooding.. We'll see. How long they can leave
without buying their own paper? Few days? Month?
There will be no 'QE3', not in the form bubble stock junkies expect anyway.
I don't think those 401k voters are going to be very happy with another stock market collapse.
'Voters'? LOL....the 401K Bathrobe brigades and pensioners ARE their target! Research 'continuity of govt', its whats next.
People actually believe the FED world central banksters now work diligently to support mom and pops comfy retirement at The Villages'?
Wow, what a dumbed down ignorant world we live in. Much suffering comes next.
I like Alex Jones, but I take him with a grain of salt. The 401k brigade will be out in force if they are losing money. They can still affect elections. Not all of the elections are compromised.
WTF does 'ALEX JONES' have to do with anything?
Are you so shallow that if anyone says anything outside the set script, it had to be from 'Alex Jones'?
Ive been saying the same thing here on Zerohedge for 3 years, review all my posts if you want it has nothing to do with Alex Jones.
3 years on a 1 year 19 week account?
Don't worry, the economy can only sink as far as the amount of unpayable debt that currently sustains it.
My first thought on todays rally was:
All they have left is to trade with each other...everyone else is either out or not budging...
"-17.5"....."Better then Expected"
Please pass me the Green Shoots...hold the mayo.
It's the green bean sprouts that have been killing us in Europe.
It's transitory..
.. on a downward trajectory
Watch out for those "anomolies"
http://youtu.be/M4WHG_GgKdI