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E-Minis Close At Lows Of Day - Market Drops By Most Since August 11 As Key Support Levels Snapped
After an attempt by the BTFD brigade to restore balance to the central planning force just after mid day was thwarted by developments out of Saudi Arabia, the upward bias gave up the ghost and correlation trading took over, with complete flight to safety overtaking all novel factors, and the market closed below key technical support levels, including both the 50 and 55 DMA. In fact the market closed below the 55 DMA for the first time since September 1, 2010. The stunningly resilient Euro also plunged, as all capital flew to the 10 Year. The last time we had an open to close move as large as today's was August 11 2010, when the market was spooked by the then downgrade of the economy by Jan Hatzius. As a reminder, the only thing that saved the market in August, and why stocks took off and never looked back at the end of August, was because the Fed announced QE Lite in mid August, and then leaked QE 2. What will have it this time, nobody knows.
And there goes the 55 DMA
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My flight to safety is The Strokes new album March 22nd.
Might as well rock and roll as the whole world turns over.
This is what the world gets for letting the CIA kill Jim Morrison,
Janis Joplin and Jimi Hendrix.
God Bless Everyone.
except for evil bankers, burn those fuckers in the middle of the sun
forever and ever, Amen.
Why would the CIA kill Jim Morrison? I think he was doing it quite well on his own.
I've done my fair share of partying. NY. Hollywood. Austin. and no one
consumes the amount of drugs the fools in Houston do. The idea that Jim,
Jimi and Janis all died within a month of each other is a joke. After they died,
so did the counter culture movement. And, greed is good soon replaced 'Free Love'.
What the hell are you on about? The fucking retarded 70s retread counter-culture movement is, as we type, in the White House. Not to mention running most of the country's elite institutions.
Too many drugs, homie.
Furthermore, counterculture in its purity never has died. It will not die until the last human being stands alone. To place faith in rock(pop) stars as counterculture is self-masterbatory futility in extreme. Be the counterculture, never idolise it.
Well, early in the mornin' I'm a-givin' you a warnin'
http://www.youtube.com/watch?v=Avzv6laPCsEDon't you step on my blue suede shoes.
Hey diddle diddle, I am playin' my fiddle,
Ain't got nothin' to lose.
Roll Over Beethoven and tell Tschaikowsky the news.
This is the end; the only end; my friend.
I've got some friends inside.
No. This is a great oppurtunity to buy. This is the setup and justification for QE3.
If they stop, they lose everything. If they continue, they probably lose everything. With those outcomes, it's pretty clear what comes next.
...you self-immolate?
-awww its a Q! sneaky you . M is easier to spot than you Q.
EM, please don't feed the troll. But is amusing when Bernanke's butt nugget types something out though, that I must admit.
"I woke up this morning and I got myself a beer.
The future is uncertain and the End is always near." - The Doors
"The End has no End." - The Strokes
35 acres of land? Check.
Guns? Check. Check. Check. Check. Check. Check. Check.
Bullets? Check.
10 Horses? Check.
6 Dogs? Check.
Acoustic Guitars? Check.
Alcohol? Check.
Food? Check.
Water? Check.
A good woman for the cold nights? Dang. Nope.
...but I bet those will be way more availible and way, way
less maintenance when TSHTF
Maybe you would consider getting one of those Japanese women robots. They say those things are getting more and more realistic all the time. You might as well get some real use out of gadgets made in Asia. ;->
I date asian women regularly. I have been treated for Yellow Fever, but have
found no cure. They're smart, fun and crazier than normal women.
They're not good girlfriend material. But then so few girls are these days.
jou are just plain dumb
You forgot the gold and silver, which will lead to the quality bedwarmer!
LO-frigging-L!!
the gold of the future is....yeast.
All the survivalists with tons of flour can't do dick without yeast. I'm practicing how to propogate and dry yeast.
It's hard to make anything edible without yeast, including ALL acoholic beverages.
My goal is to be the Rothschild of yeast.
Yes, I've been drinking all afternoon.
Wild yeasts populate all fermentable fruits and grains. That is where tame strains came from.
Stay away from the Brown Acid.
reflate retarded, bitchez
Still a crazy to figure market--up or down..lol
Hey stupid BTFD.
Who here forgot to BTFD!!!!
Achtung! Vie Vant Names!!!
I did, but also covered with some puts, I needs more frns fomo (rhymes with pomo) pm's.
Its still all about the Clevelands...
I STD (sold the dump) - its been my strategy for so long in retrospect it would have been less painful to get the clap every time we dumped.
Beautiful triangle break in the ES . Retraced a bit in the hours after the NYSE open but that's typical breakout behaviour ( Previous support tested as new resistance ) . Shorted after the retracement myself and made a nice tidy profit . With no POMO tomorrow and the possibility of escalating tensions in Saudi Arabia I'd say we're good for another decent drop to end the week .
...and ye shall hear of qe's and rumors of qe's...
Has anyone else seen the Bank of America murals in their HQ?
They are creepy. BUT! One thing that struck me is they were made in
1990, and the only writing on them is EQ, which is QE backwards.
I really believe those dumb dickholes were letting us know QE was coming a
decade ago.
The Murals are here....
http://www.abovetopsecret.com/forum/thread631163/pg1
hey fringe how did you get the captchas right? please spare us oh mighty fringe thor
Zomg. u r the toughest Ethug ever.
GOLD IS GOD!
ROBOT TRADER IS A JERK!
BLYTHE IS A BITCH!
is that better?
does this mean that ben needs bill
The primary dealers are here to buy the dip, with fresh, free money.
DOW +2% tomorrow.
At the end of the day, whether you're Harry or Hamy, you guys are still bulltards.
Except theres no POMO tomorrow and its a Friday (weekend tail risk hello?) and oh , beware the Ides of March bitchez!
I haven't sold my PM mining stocks thinking the same.
So far, (not) so good.
I just saw the news, they fired on demonstrators in Saudi Arabia.
Considerig everyhing, I'm less optimistic about your theory today...
No pomo, no shorts to cover and put in a bid, no pomo, no cash for redemptions, middle east angst, no pomo, light volume, no pomo, and all on a friday, and no pomo.
Wanna go long into this weekend?
Well, as I posted yesterday for Robo Trader, who previously asked "when will the market go down"; it started on Feb. 22. You're now in a Bear Market. The top is in; now you can laugh at me when it makes a new high in a month; but my opinion is: not.
HFT bots, with no POMO floor, priming to go full retard sell.
CMG and PNRA catering the protests?
cant the chinese build some more empty cities
These CNBC girls need to get back in their seats....having them walk arould is killing my fantasy....I don't need to see what their entire body looks like...uggg...back to bloomberg
the hell with them walking around...the fantasy dies when those yentas open their pie hole and yap their telepromptor "recovery still intact" horseshit.
no shit. bring back my honey margaret brennan. giggitty giggitty goo ! !
B. Stutland, B. Kilduff, C. Cramer, and Middle East expert E. Burnett are working on it. All more than proved themselves to be complete idiot, market manipulators today. What a day.
Good grief...and by that I mean we are freakin' doomed when this is the crowd assigned to explain things for us.
There should be a warning in the lower right hand of the TV when watching CNBC - "May cause mental bulltardation" and "listening to and watching CNBC in tandem contributes to brain damage".
Edit - might need to add the same warning to HamyWangers missives.
You know for sure that, when hour after hour on the Ministry of Truth [CNBC] constantly saying that volatility looked ok, that vol is about to explode.
All of them know that you must get ahead on the vol trade...you don't wait until it explodes tomorrow morning and then say...hmmmm...vol...I better sell my stock.
These guys on CNBC have become ridiculous. All of them have clearly rotated from stock to calls...and they will say ANYTHING to keep things alive one more day.
Again, the primary takeaway is to short Comcast...for doing NOTHING about the credibility collapse at the network.
And BUY VXX...as the price dislocation over the past six months [from VIX] is all you need as insurance.
So pissed off today...f'n Marxist pricks!
LOL! Just checked the ratings for the Ministry of Truth [CNBC]. Get this...reruns of American Greed wipe the rest of their field. LOL!
Rating overall at the Ministry of Truth would indicate that I am about the last person with the tv on there. You would think they would call me or something. Check just how bad the Squawk Box hits are? Fuck...perhaps Joe should spend an extra lot of time picking out his bumper music for tomorrow?
http://tvbythenumbers.zap2it.com/2011/03/10/cable-news-ratings-for-wednesday-march-9-2011/85292
Oh...and since he is on..."ya look at da" and "we talk about da"..."ya look at da" and "we talk about da"...Najarian. I don't know...when you are bringing in X NFL player/option junkies with limited vocabularies...are you really serious about your programing? Fucking dumb shit!
This network will either fire hose the place...or go under. Comcast cannot carry it at a loss like GM did. Things should start getting interesting soon.
Looking at the chart, I believe this is one of those dips we've been hearing about. Our instructions are clear...
DO NOT buy this dip! Okay. there I said it.
Look out below?
.......depends on what the propaganda factory churns out after hours tonight.
another inverse h&s setup. BTFD.
Jim Morrison was the lizard king. The reptilian. Hahahahahahah.
You can buy Friday's close if Saudi is not on fire yet.
I am short and I do not mean in stature.
I didn't know that one could take a flight to safety anymore. Rather it seems like running from one burning casino to the another via flammable interconnected bridge (pearched above the alligator infested moat of course - what else?!)
Yes, well; safety is not what it used to be; and neither is "quality"; it's the new normal; I mean it's all realative, isn't it.
Going on a tangent here but where is HarryWanger these days ? Haven't seen him in a while .
Got rich with his awesome investment skills?
Harry is busy with the two new air freshener retail stores he just opened in Manhattan
i thought he sold good old American apple pie and fairy cakes with Abe' Lincolns' face in red, white and blue icing sugar ...his optimism is priceless, possibly the last time we'll see anything like it in more than decade... wonder and marvel before Hamy disappears in an historical epic collapse. Capitalisms Grim Reeper is going to take no prisoners this time round, 'Happy Hamy' will be no more!!
Look to me like the party is over, unless they ramp it back up huge tomorrow.
on Thu, 03/10/2011 - 10:38
#1036577
"Good News: Crude oil is finally crashing, giving much relief to retail stocks and airlines, which are celebrating this event as commodity stocks are now in full crash mode."
in the same thread the genius told us jpm was "unfazed."
the genius also told us yesterday that it was very easy to make money in the market. all one had to do was buy jpm, which for those keeping score was down 2.2% whereas oil was down 1.5%, and which the catfish mouth (a creature with more mouth than brains for new folks) said was crashing.
odd way to compare crashes, no?
so yet on another day we're told to fight the fed. party's over. of course yesterday the genius said never fight the fed, the day before that don't fight the fed etc etc ...
what a fraud the girl is.
Hey Dude:
Fact: Retail and transports were relatively unfazed.
Fact: SPY is now under the short term moving averages, and the Summation is now locked in a downtrend.
To me, that means sell everything, regardless if the banks like JPM and retailers like JWN were untouched today.
The only way that is invalidated is if we have a huge up day Friday or Monday that erases all the recent losses.
Otherwise, we are now in a sell mode.
And that includes gold stocks.
Overall charts and moving averages of GG and ABX look OK to me. Any comments of them in specific?
Chart of GLD?
WTF? How was JPM "untouched"? It was down more than the market.
As for shorting, too early. You seem like a typical trader, much like the 19 year old joystick jockeys you joke about, bouncing from one mindset to another.
The Fed just announced another 100B+ will be printed next month. It's not until that money printing ends that the bottom falls out of the market.
The simplest theme could have made you rich from March 2009 til today, but have no fear, there is still plenty time - go massively short as soon as QE ends. There will be some delay, but eventually the market will crater.
dudette, the issue is what you said day before yesterday. in your own words you said it was "easy" to make money in the market. all one had to do was buy jpm, don't fight the fed, pigmen "always" win etc... now your tune is that it's over, the summation index is down etc ....
so i guess in this particular nanosecond you're saying fight the fed, which was the exact opposite yesterday which was the exact opposite of the day before.
and btw, if jpm was untouched being down 2.25% then that refutes your claim that oil was crashing since oil was down less.
epic fraud.
And oil and PM's are down only because of blatant manipulation. I guess the PPT figured they couldn't keep the Dow up today so what the heck? Short oil and PM's.
Bonds taking off like a rocket
Cup and handle says 111 in a hurry.
At some point injecting more heroin doesn't make the junkie feel any better, it kills him. So Ben's POMO injections have reached their point of no/negative incremental effect on the market. His proxies are too skeered to buy at these levels.
This is the FED pretending they won't introduce QE3. This is idiots believing the FED. This is the setup and justification for QE3. This is the "I told you so..."
Indeed. Plus it gets some of the die hard deflationists off their meds.
Infinite QE
The more QE the more deflationists like Moi know deflation is being baked into this imploding economic cake ...has Benny the Bean baked any inflation into the property and MBS's he's bought onto his own Fed balance sheet? ...so if he can't even reflate them what fuking chance do you think he has with inflating anything else in the economy???
Harry, at first I got excited - who am I to rate a reply from the geat Harry Wanger? Or even the great Hamy Wanger. Then I saw it was just you, Harry Wanqer... bummer man.
I posted this on an old topic yesterday. But couldn't help but notice this post by a younger lady on the Scottrade community message boards. What does this remind you of?
it reminds me of market tops; b.) thirteen sad stories that all started just like this; c.) my friend who was forced to give up day trading by his wife offering to divorce him and move back to her parents house if he didn't, (loss showing at the end of the year, of course).d.) the misery called, "retail investing".
sounds lazy and jealous. everybody wants to be a doctor, nobody wants to go to medical school. bet she's a nurse
Sometimes on German TV they show these "Law & Order" episodes with Jerry Orbach and Sam Waterston and Fred Thompson.
These lawyers always try to build a case from the evidence handed to them by NYPD.
So I get a first impression of the American "grand jury based" judicial system.
Since this whole story is based in New York, and as I see them standing on the stairs in front of these court houses with a paper cup of coffee in their hand I always wondered, if I will find these places in Google Streetview.
My research yielded that this must be Pearl Street.
Isn't this home to the Southern District Court of New York (SDNY) ?
Isn't this the court under whose jurisdiction all white-collar crimes committed on Wallstreet fall ?
Are there any New Yorkers here who can verify or falsify this ?
Thanks in advance.
There are no crimes on Wall Street. When you buy the president you are good for life.
Now what?
Yep, now what?
Just what bullish news is out there lurking and waiting to pump the market.
The PTB are ever thankful that Charlie (though he is quieter this week) and now Princess Kate's growing arse (or is it shrinking, I'll confess I only read the headline and intro, cause I don't give a rat's ass about the royal wedding. Or royals for that matter) is helping to distract the masses from the fact the damn ship is on fire and the rats are leaving.
Wow, that non-existent inflation, and reliance on a powder-keg for our entire economy, seems to be a bitch.
And the band played on..
Robo,
On this we agree... that scares me... my comments from earlier today on Motley Fool:
"Like most of you long and strong PMs, I have been wondering what the Fed's end game is and how they could possibly help JPM liquidate their massive short silver position. It bothered me reading Harvey's blog this last week that the Morgue had significantly increased their short position over the past few weeks even with silver increasing 7 bucks/oz.
I read with interest the dumping of all UST by PIMCO and thought something big must be brewing...
I saw this comments on SGS's blog and it got me thinking... ""PIMCO sell out of Govt. bonds. Fed announces end of QE. Everyone rushes for the exit in stocks/ commodities, JPM cover. Meanwhile PIMCO or Fed quietly buy up bonds in the panic. When everyone is screaming FED announces QE3. Elites and insiders win. Everyone else screwed."
Another factor is the hype that a silver Comex default was going to happen in March which doesn't appear to be materializing and which has brought in a bunch of new longs to the 'get rich quick' betting against the Morgue and we have the potential for a disaster IMO.
I have been investing in PMs since 2005 and have seen massive gains and massive losses after those massive gains. While I'd like to believe that the Morgue's days are coming to a close, the reality is the Fed is the bankers of banks will not and can not let the Morgue fail. Therefore, they MUST have a strategy to bail them out and I think their strategy may be to take down the stock market and cause a liquidation of the commodity complex. Apart from that, they need to create some buyers of bonds..."
JFC
If the Fed stops printing PMs will drop in terms of dollars, as dollars will become more and more scarce, bonds will rocket, no different than last spring, today was a prelude. There should be more upside to PMs until QE runs out, but then, everything is going down except for the dollar and bonds.
One can hope, I would love to buy some more physical in the mid 20's.
Don't worry, with all the rage schedulled for tomorrow, people will be focused on the fact that they can go out and finally buy a new ipad II. All will be well and the market will be up 3%.
technical analysis will do you no good here or with currency....the ppt is in full dudgeon and doesn't take kindly to markets thwarting its will....
the dollar decline prompted the intervention....once the dollar stabilizes for a few moments, the ppt will be back to rallying the stock market....
stocks up, dollar down; stocks down, dollar up...eventually the trapeze high wire act will falter....then, we can all say, apres nous le deluge, n'est-ce pas?
Anybody who doesn't own PM's right now is a fool not to.
This it a ticking timebomb!
Winning!
I'm going long tiger's blood.
Today was a prelude to June, as well as a flashback to last spring. If QE stops we will have regular 100, 200 point down days on the Dow. The losses on the Russell will be even greater.
Tomorrow is Friday, Fridays are always green.
This is "Kuato" from "Total Recall" on you photo, right ?
Starring Ronnie Cox, Arnold Schwarzenegger and Sharon Stone.
Methinx Pimpco's UST dump announced yesterday got digested today and gave the boyz the heaves....along with the other neg news. That out of the way, they must now create pos news before the opening ding-ding.
PIMCO is owned by German insurer Allianz.
Almost 90 % of Germans' life insurances are with Allianz.
Although an outdated longterm investment vehicle and insurance at the same time, these life insurance policies are still quite popular with a lot of Germans.
Allianz is to Germans what Met Life is to Americans, only more market dominating.
What is your point? Just handing out useless facts?
Two days ago I was criticized for being non-informative.
Now I am informative, and I'm criticized again.
But when someone is shouting: "Silver bitchez", then that's alright isn't it ?
What is informative about "buy silver now" ?
What my point is ?
If these anglo-american hedge funds and money managers from Wallstreet and the City of London messing with the Euro are not reigned in, Allianz and thus PIMCO could very well be instructed to mess a little bit with the American bond market and cause some havoc there.
How about them apples ?
Thank you. I didn't have a problem with that comment at all, it had a good point. It just seemed the previous ones you posted were random facts with no point. And no, the "Silver bitchez" thing gets old though from time to time it brings a chuckle.
when I woke up this morning, I had no intention of wearing out the "sell button".
Apparently my gut had other ideas.
It's good to see that the 'bearish rising wedges' that I have warned about for some time - are now being recognized by others...
http://stockmarket618.wordpress.com
Day of Rage: Non-event. Look at the futures - solid green.
Anyone who believes otherwise got out today.
And if we see something like KHADAFFY SEEN IN MALTA you can chalk up 300 points on the DOW.
HUGE moves down on big volume today, futures will meander along until the EU markets open. If ES is still green six hours from now, you're on to something.
Solid green? ES hit a low of 1278.5 in AHs.
http://www.youtube.com/watch?v=WJ1RYbIV78U