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Dollar Spikes, Algos Take Market Lower
The dollar just spiked on more concerns that Japan's currency posturing may be more than just bureaucratic jawboning. The algos that trade the market as a derivative of the dollar decide to puke stocks. Somewhere Bernanke is rehearsing his reconfirmation speech which emphasizes the Fed's strong dollar policy.
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I laughed.
The spike was due to a new trader at the NYFed overhearing Ben's practice speech, and then actually buying USD.
A quick conference call (while Fed IT removed the 'Buy USD' feature from all computers) cleared up this misunderstanding.
Subsequently, all DXY trades executed between 11:00-11:45am will be cancelled (including, but not limited to, all trades at prices of 74.50+ going forward).
+100.
nicely said gilga.
LOL, right on!
fabulous .... love it! thanks!
America’s answer to Pravda—Foreign Policy magazine, owned and operated by The Washington Post--sets the stage for Ben’s inauguration.
…this from The LRC Blog: Ben Bernanke Named Top “Thinker” of the YearPosted by David Kramer on December 2, 2009 05:36 AM
After the CFR’s Foreign Affairs magazine, Foreign Policy magazine is the second most influential Establishment (i.e., One World Government/New World Order) propaganda rag in the world. The magazine just came out with its list of the world’s top “thinkers” (i.e., best propagandists for the One World Government/New World Order). Guess who is the top* “thinker” in the world?
Ben Bernanke. (Stop laughing. Stop it! Right NOW!!)
And why did the OWG/NWO rag name Ben Bernanke the top “thinker” in the world? I’ll let the magazine’s website tell you in its own words:
The Zen-like chairman of the U.S. Federal Reserve might not have topped the list solely for turning his superb academic career into a blueprint for action, for single-handedly reinventing the role of a central bank, or for preventing the collapse of the U.S. economy [emphasis mine]. But to have done all of these within the span of a few months is certainly one of the greatest intellectual feats of recent years.
Saying that Ben Bernanke prevented the collapse of the U.S. economy is like saying O.J. Simpson prevented Nicole Simpson and Ron Goldman from dying of cancer.
_________________________________
*And yes, President Obamanable was of course No. 2. (Well, what did you think—that the editors of Foreign Policy magazine were a bunch of rashists [sic]?)
http://www.lewrockwell.com/blog/lewrw/archives/044124.html
a phucking monkey on some good orange barrel could match bernanke's job by just hitting the print buttom on the greenback printing press.
what the phuck don't stupid americans get?
why in the name of all that is sane is anybody giving this phuck bernanke the time of day let alone a job as a phucking teller at a bank?
It's all quite simple. The banks own our representatives and our regulatory agencies and our way of life.
http://www.theatlantic.com/doc/200905/imf-advice
Oh no, good sir. Ben is doing exactly what the shadows want done, without anyone in public being able to know exactly what is being done. Anyone can print money, but very few can be trusted to do the biding of the Moneychangers - to the detriment of the United States and its citizens - and keep their mouths shut / lie about it forever...
Sell your gold when Uncle Ben adopts a strong gold policy.
i cried
Hopefully there are some good drivers out there:
http://www.youtube.com/watch?v=eI9xU5xLqHM
that was awesome. a good reminder that we may need to do an about face on any long or short position --- better be quick to admit a mistake --- or this could happen
http://celebrifi.com/gossip/Chinese-Tiger-Woods-Computer-ReEnactment-Far-More-Exciting-Than-Actual-News-VIDEO-1184842.html
Algo jockeys should watch and learn:
http://www.youtube.com/watch?v=k8dutMdvf3I
I have a funny feeling all these momo scripts go one way.
What we need is a 'Swat team' Czar.
I vote for Elliot Spizer!
Currency wars, gotta love it.
Ben is relaxing, smoking a Doobai, and listening to
some Dire Straits--"Money For Nothing".
or was that Pink Floyd Comfortably Numb?
Right on cue with the closing of London (LBM) when they needed to engineer a selloff in gold/silver, which started but shoved it up the ass of the bullion banks and TPTB.
Other than London closing, what great event caused it, since it happens just about every day when they can't engineer a selloff prior.
F**K this compromised, corrupt and illigetimate government!
May be who ever tripped your servers wires,tripped the algos wires too,causing the knee jerk in both...
So where's the mass of dirt you supposedly picked up from Mark Pittman? You going to talk about it here? Write a book?
Folks,
For all the savy here, interbank FX connections seem to be scarce.
The word is...
The BOE and some other central banks (not Fed) were rumored to have intervened on behalf of the BOJ when the action was witnessed.
Our friend(s) at ICAP may be able to elaborate?
Any truth to this?
Wow! S&P was just breaking the square wave pattern when 'the algos' kicked in and moved it back to 1110 where it belongs now (Till Friday morning, when it shall get back to ~1090).
http://www.google.com/finance?q=INDEXSP:.INX&chddi=1800
Maybe the square wave is not a side effect of the algos but a straightforward target!
Creepy!
Offtopic: So good to see ZH back!!!
QUICK all you central banksters RACE to zero value!!!
Ready... steady... GO!
Too bad dollarbugs and other FIATbugs will be crushed in the process. Oh well.
Got gold?
Russell 2000 ripped up 12 pts (1.7%) on what???????? Still up 1% FML.
I dunno. Not much of a spike. Maybe enough to try to tamp down the gold takeoff. Probably not.
Since any real USD spike will just be cancelled retroactively, because it is impossible or not profitable or something, gold should be fine to head past the Full Moon on way to Mars, Alpha Centauri, etc.
Isn't it funny now: the Management can now only stop gold at the expense of the stock market. Botheration!
We will make new equity lows according to my charts and my USD indicator has been giving BULLISH warnings for some time and I'm still expecting a dollar rally.
http://www.zerohedge.com/forum/market-outlook-0
Would anyone care to shed light on the massive Algo running a correlation of IYR to Gold of almost 1?