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Despite Traditional Late Day Ramp, S&P Adjusted For Purchasing Power Lost Is Again Down For The Day
Has it maybe ever occurred to any of our glorious regulators that the reason why nobody has any faith left in the stock market, which has become just a teetering house of cards, supported constantly by the Federal Reserve Bank of New York, is due to precisely the kinds of totally nonsensical ramps in the market just as the one we are witnessing right now? Consdering that the economic data could hardly be any worse, how is anyone supposed to trade this complete binary gibberish? We realize there are another ten minutes in trading, which means the S&P will likely make another valiant attempt at 1,150 just to get nothing but more algos to do the buying once limits are triggered. Whether it will succeed is irrelevant, as nobody trades any more, precisely for this reason. And the end result will be merely another flash crash, that will drive absolutely everyone out, up to and including the last few vacuum tubes remaining.
And most ironically, when expressed in gold, even today's utterly nonsensical ES ramp is still down for the day. In other words the stock surge did not even offset just today's loss in fiat purchasing power.
Updated for close: ES closed 4 points higher on the day, while the ES VWAP shows a 4 point loss. Nothing more to add here.
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this show is over
not even interested in participating in any move anymore
it is a total farce. done.
Maybe so, but I think it's important to keep an eye on what's going on. How else will you know the precise moment TSHTF??
dont u think its( this farce) a big money making opportunity .............
u will be thanking the "conspiracy"...after u r filthy fucking rich
Robotraders stock chart boners are actually a true net loss. Oh well, maybe try putting up pictures of nude Janet Napolitano or Pelosi.
YUK! There was no need to put that mental image in our minds. How revolting! I need to take a shower.
How's about a nude Janet Reno? Better?
Now that's exciting.
Totally agree with Bankster T. What an absolute joke. Obamanation has become speculators heaven and hell, depending on the time of day. If there isn't a big flush the country will go into a multi-decade decline.
+1.
Even though I'm still collecting a few crumbs before hibernation, plans are set for me and my peoplez.
Come on in the water is fine. Uncle Benny is watching out for you.
The rebalancing of ETFs and super HFT does it every 9:31 to 10:00 and every 3:30 to 4:00 when stocks like Progressive goes from 44 to 4 in less then a second, or AAPL plunges to 275 is the main reason..you must be insane to own anything other the a option --(of course for gambling purpose ONLY...)
Exactly. I sold all my gold miners and bought the same number of ITM calls. Limited downside, especially if some time premium is left.
Starting next year, there won't be much benefit to holding stocks a long time, so you might as well use leverage.
Fucking joke of a market.
Now the financial new sites claim strength or deals or bullshit.
Data is bad. Pomo is here.
In a stunning reversal today, shares of Apple Inc (AAPL) fell $50 in seconds as Steve Jobs announced that he was leaving the company to run as a tea party candidate in the November mid terms. The fall in AAPL led to a rout across all markets, including commodities as hedge funds liquidated assets to meet margin calls against the world's most widely owned stock. The tech dominated NASDAQ 100 index fell 263 points as the index had recently become heavily over weighted by AAPL's presence.
Many small and medium investors were caught out as they had removed stop loss protection in the wake of a series of unexplained share price collapses since the so-called flash crash of 6 May. Exchanges had stepped in to reverse the trades in most cases so investors felt their risk was minimal.
SEC Chairman Mary Shapiro announced that an investigation had been launched against the editor of the website Zero Hedge, Tyler Durden.
In a break with previous protocol, Ms Schapiro also advised that a national security letter had been issued against Nanex Inc. and that all websites who linked to or quoted what she called "slanderous fabrications" would be subject to investigation and sanction.
Taken from the pages of Nazi Germany. And coming soon to an America near you.
It would be funny if it wasn't a hair width of being true
It's precisely because it's so close to being true that it's funny. Verisimilitude is the soul of satire.
Too Funny for Words. Yours were great. Thanks for making me laugh. My wife cracked up too.
That EOD action makes me think that the FRBNY gave the PD's advanced info on tomorrows numbers for their continued cooperation in manipulating the markets up.
Efforts to spook the herd are becoming more and more desperate and transparent. But what do they care when they're immune from prosecution. This is a National Security ramp job. No one is going to be prosecuted or even threatened when they all have CYA letters from the white house and the "intelligence czar" informing them of their patriotic duty.
This is all legal folks. Sorry for pushing this over the past two days, but we must never forget that they have a pass from the "man". I'm certain that if this little gem (below) was published in 2006 than the entire Ponzi has been declared "in the interest of National Security" retroactively. Don't look for perp walks any time soon.
Intelligence Czar Can Waive SEC Rules
http://www.businessweek.com/bwdaily/dnflash/may2006/nf20060523_2210.htm?campaign_id=rss_daily
Hmm looks like they new what was coming.
"The Myth of the Rule of Law" :
http://faculty.msb.edu/hasnasj/GTWebSite/MythWeb.htm
Whoops
On BBTV they had a trader on at the close that said everyone needs to be bullish because the Fed is manipulating the markets (stocks, bonds, and commodities). He then followed it up with a statement to the affect of "once the POMO's stop there will be carnegie in this market". So with todays POMO only being $550M, does that mean Thursdays numbers are going to be reeeeaaallly bad and they are going to do a $4B then? Any bets?
This sucks. Even CNBS is trying to shoot the balloon...3rd dy w/ bearish guests and still Bernie et al win the battle. I'm a stat: trader with frozen buy finger.
"POMO, market is a joke, blah, blah, blah." The market is the master and you are all slaves. Nothing has changed. The power elite will do whatever it takes to reflate risk assets and introduce inflation in the economic system. And how are pensions going to meet their 8% return objective? Keep buying them dips folks, bubble days straight ahead. I'm back from Greece and my solars were on fire in the last three weeks. Don't say I didn't warn you.
ESAD leo
Damn, we thought the minotaur ate you Leo. Between you and robo it's like a penny stock boiler room operation around here.
Pension funds can meet their 8% by holding commodities for a few months. I'd like to see a commodities index plastered across the news. :) I wonder why RoboChart hasn't highlighted wheat, corn, or soybeans lately. Ag products are lifting off.
I see the lift in Ag products as a very dangerous warning sign that wealth destruction is accelerating rapidly. The crops in Western Canada are mostly feed grade which will fuel to this fire.
Judging by the rocket ride of gold, it would be wise to heed a little caution about being bullish on equities such as these.
Yeah, solar power doesn't make much sense when natural gas is so cheap.
See you on November 3rd Leo.
WOW! What are those, 5 day charts?!
Gargle my balls, Leo
Problem is you got no cojones.
I don't think this relationship is going to make it. All you got is a fast investment vehicle.
http://www.youtube.com/watch?v=bfqEisOIMJc
The market is only your master when you allow it to be, Leo.
Stop being a slave. Buy gold and silver, and be your own master.
Ok Leo, you warned us...
now go away.
LDK looks lack a sack of Quebec garbage to me. That's not meant as a reference to the Quebec villagers, of course.....
Stock Manipulation is illegal, unless of course you are the FED.
Stock manipulation is NOT illegal if you have a white house letter.
Intelligence Czar Can Waive SEC Rules
http://www.businessweek.com/bwdaily/dnflash/may2006/nf20060523_2210.htm?campaign_id=rss_daily
Well tell me this, Why isn't any body who part takes in this scam not coming forward? And I mean the little guy, the traders that actually do the work.
there must be some body out there, out of the thousands that are disgruntled.
"Little guys" coming forward? Who are the thousands that you referring to who are disgruntled? All the traders who were canned in 2008-2009 were well paid to shut their mouths or they were quickly hired by the other houses. Why would they open their mouths? Are you that naive?
Why would those currently trading in this scam come forward if (1) they are well compensated to shut up and trade and (2) they aren't doing anything illegal anyway and (3) talk to whom? The "free" press? Or maybe CNBC? The SEC? They aren't doing anything illegal. So why would anyone listen to them? The DOJ? Really?
The justice system has no problem with what's going on. This is clear. So who do you complain to?
Spot on.
No one wants to be suicided or get run over by a runaway driver so that their conscience feels better
Well then, they are all pussies. And it is some
thing I never teach my kids!!!!! That's what
seperates us all.
Just another transfer from the taxpayer to the banks
And, if you're long, to you!
Most Tax Payers are not even in the Market but they are paying the tab for the Bankers to make their Bonuses. Except of course if you are on Welfare. What do you care as long as you check keeps comming.
Hell! Douchenger wrote TWO missives about all of this crap and not ONE mention of GOLD. No matter what that disingenuous lout says, HE HATES GOLD!
Pass The Fu*king Kool-Aid.
I don't pay any attention to someone (like Denninger) who has to underline, ALL CAP, and post in bold or italics in order to make his case. He comes across as an occupant of the lunatic fringe.
That and his penchant for banning anyone who disagrees with him or who allegedly fails to follow his two pages of fine print "Rules for Posting."
RE Au: He just cannot understand that gold is currency, not just an asset.
Anyway I don't care that he and his minions aren't buying gold, because that means more for me!
~Misstrial
Double post, sorry.
Good luck explaining to the general public that their 401k is actually going down.
Don't tell the pumpers (welcome back Leo K) but this bubble will have a very short half-life. Like Chernobyl the fallout will last a lot longer.
"this bubble will have a very short half-life"
I wouldn't bet on it...it could very well be the Mother of All Bubbles!
Yes it is, and when it pops 2008 will seem like a pin prick. This one will result in losses from stocks to sovereigns. Look for defaults from your local townhall to the US itself.
Don't look back, Leo. Gold is gaining on the nasdaq, and has already sprinted past the s&p. Even you can tell where the money is going.
Speaking of gold....wth has JB been?
Eat shit and die, you homo
Buy solars, make money, ya fucking moron!
Leo, it is all good until the song ends. When and if the FED Pump operation via PPT and POMO ends, then the whole house of cards comes down without any warning. Good luck with that shit sandwich. That is not investing, that is guessing. Oh yeah, your solars are a waste of time, and those companies are one disappearing government subsidy away from Armageddon. Stick to what you are excellent at: pensions.
Bears are losing the battle.
They had the opportunity today, and could not seal the deal.
Stick it in your ass, robo-cock
A good boxer starts with simple, quick shots that do not expose much vulnerability. The big moves come out after the opponent makes his first mistake. ;)
Robo-
Seems like the Bulls have needed a little help from Uncle Ben, Cousin Timmah, and BO.
Pass the pixie dust and kool aid next time.
Any possibility the algos melt up? Just asking. That's one black swan I would not care to see.
Yes. This is probably how the subsequent crash will occur (ie., 1-1.5K drops with 3-4K intraday swings). In a sense probably different than what you're implying, this is already happening in slower motion.
It's foreigner's buying our stocks.
And just to reiterate my earlier posts on the topic, this week would be a really good week to start loading up your shorts. Dow Targets:
By next Friday: 9600
Confidence: 75%
By end of October: 8100
Confidence: 60%
By end of year: 7300
Confidence: 35%
I'm buying accordingly.
If the Fed is playing politics right now to prop up the market with POMO, wouldn't they try to hold out until November elections...? Assuming they are supporting the current president. Wouldn't make sense to let the market move down that much in October, would it? I know there are a few Pomos left in October, so maybe your assumptions are a month early.. but, all and all, I agree.
Fire the pit bosses. Every owner of a rigged casino knows operational success is dependent on the impression of fair play. Everyone brave enough to look knows the bloom is off that rose.
Beautiful...the godfather of all indices!
For the make glorious benefit of magnificent peoples of USSA market closed up again,the almighty glorious leader Comrad Bernanke is surely best finance minister in west no?
..and if Pensions don't make their 8%, what, the middle class get wiped out?
Current pensioners checks are reduced or eliminated; have to move in with the kids.
Younger workers with pensions live to see them elminated and substituted with a 401k.
~Misstrial
Total Market Socialism once everyone bites the cheese it will be different. Then the trap will come down on your neck.
Chart: SPX
There's always tomorrow.
http://99ercharts.blogspot.com/2010/09/spx_28.html
Annie dedicates this one to you.
http://www.youtube.com/watch?v=Yop62wQH498
Born One A Minute
NEW YORK, Sept 28 (Reuters) - U.S. stocks rose on Tuesday as latecomers jumped onto the September bandwagon, buying up sectors that have outperformed during the month.
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