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ES Closes Gap With EURJPY
The ES just closed the gap with the EURJPY. Whoever got in on the compression trade highlighted yesterday, congratulations. Just goes to show that overestimating the intelligence of market players is the biggest cardinal sin one can commit in this market.
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"Ramp job!" Summers screamed as he walked into Centcomm. "I want ramp jobs!" Timmah Geithner ran over to him to offer some coffee. "I don't drink coffee Tim, just Coke. Get me a damn Coke." He stopped in the middle of the floor. "I want ramp jobs in all sectors. I want ramp jobs coming out my ears." Timmah ran up to him with a Coke and a phone. "Bennie is on the line, he is wondering if now is the right time for a ramp job." "Give me the phone. Hello? BS, of course now is the right time to do a ramp job. We need full uptick now! My rationale? Because we are sinking! We have to get the hell out of this slump." He handed the phone back to Timmah.
Timmah put the phone back to his ear. "I know Bennie, I know that we wanted to wait until the Hollywood Futures cleared the first Congressional meeting, but Lawrench is on the war path. Ok good bye." By now Summers was screaming at the receptionist on the other side of the room. "I come in hereonly once a month and you can not have one cold coke waiting for me? Do you know who I am?!" The woman ran off crying. Summers turned to the approaching Timmah. "Timmah I want ramp jobs and by god I will get them! I also want a COLD Coke, so go get me one. I'll be waiting right here." Geithner hurried to the vending machine that was outside Barry's Oval office, before he got out the door he heard Larry shout, "More ramp jobs people, more ramp jobs! Give me what you got!"
This particular ramp left my stomach a couple of floors down. Wow.
If they really want the market to go higher, shouldn't they aim for credibility on the up legs? These "insta-ramps" go beyond the suspension of disbelief, I can't believe they won't just make the fundamental selling worse?
+1 Right there with you. I really gotta remember to NOT underestimate monopoly money funded computers.
Funny -
Saw a headline that the ramp was due to a home sales forecast. Is that like a weather forecast, cloudy with a chance of foreclosure?
"Sunny and clear skys! Forclusures are good because then the people living in the homes can still purchase Sketchers!" - Joe Montana
Did timmah panic when he discovered the bottle of coke price went up from $1 to $1.25 and he didnt have a spre quarter?
+1
Bravo!
Summers is an asshole. How could he expect a cold Coke to be waiting for him when he shows up only once a month?
Right? ;)
Summers looks like he has had 10 too many Big Macs with that sugar-shit in a red can that he drinks. A fuckin disgrace.
Yeah, a total mad hatter type.
Study Finds High-Fructose Corn Syrup Contains Mercury:http://www.washingtonpost.com/wp-dyn/content/article/2009/01/26/AR200901...
his physical appearance reflects the social class he fights to protect... Engorged Leach.
I think this has been noticed and commented on by others before. lol
+1
Love it. Hard but fair. Mr Summers is neither.
+1 (I guess?) So is this as good a reason as any for the 5 minute 100 point ramp in the DOW we just saw?
antti niemi with another stick save.
go hawks.
Heh, heh..."Niemi says: NO!"
Go Hawks!
Remember that the Finns are the only ones still playing by the rules over in Euroland.
IIRC, they're the only country to have fully paid their WWII reparations, too.
ES = equities?
SP500 e-mini futures.
thanks!
TIMMAAAAAAAAAYY!!!
Good call
Very good call Tyler
Well we are now about to press up against the 200DMA, so then another leg up or down will be determined tomorrow.
hmmmm....so instead of shorting the market I'd actually be shorting the euro/yen, thats comforting...I have a new test for mental instability: Question 1) Do you believe in efficient markets....if answered no you can go home, if answered yes you are automatically committed....
I believe the market is effecient at shaking the fleas off. Good luck trading!
unbelievable
US MARKETS = R.I.P.
Now you will see them both crash together.
on absolutely no volume in the pits either
fuck them. caught with a short unaware that skynet would become self aware after barry's market killer speech
once the Ipads in the pits start synchronising, Skynet will make it's first move...
Gold didnt get the memo..
Yeah... if got stuck into my draft folder and I shut down my laptop before updating my folders. I'll send them the memo to go up together with tomorrows memo that it needs to go down at 10 o'clock.
I hate to walk away from my computer...I'm afraid I'll miss the 3:30 roller coaster ride. maybe it will stay calm today.
More lunacy. Sheer unadulterated lunacy. We now have a no volume melt up off of what appears to be another currency crank job that began yesterday, collapsed and got cranked again.
For the average Joe there is no reason to put a single dollar into these busted ass markets.
Score as of yesterday
Bernanke: 1
Tyler: 1
Edit- BS: Levered
Tyler: Hedged
Starve the beast. If you are not out by now, GET OUT and stay in cash. Preferably under your mattress.
Just burn your cash before the Fed does; it is no fun if you let the Fed burn it!
"Bonfire, paper FIAT, keg, shotgun, a boom box, and appitite for desructuion; for a good time!" -BS Bernanke
Lennon, the only reason I stay in cash is to buy more gold in case they raid COMEX again. And oh, the nearest grocery store doesn't accept gold ingots.........yet.
Oh ok. That is what I do as well. Cheers!
Tomorrow WSJ markets headline: Markets rally on expectations of strong jobs report Friday
Yep.
MOPE
I can't wait to see the expected +425k or +504k number on Friday...or not
With CENSUS (why is it along with STIMULOUS always in caps I do not know!) it could be upwords of 1 billion! Sorry, I meant 1 million. 1 million jobs! Mu hahahaha!
My money is on +575k, 75k cences and +500k birth/death. Remember Biden predicted this a couple of months ago so they will make it happen to keep from discrediting this administration even more.
First thing I told some one when I saw that head line was, " we now know how badly they're going manipulate the numbers now over the coming months"
I dont get it.. If I would have shorted, like TD recommended, EURJPY at 111.63 (http://www.zerohedge.com/article/did-computers-blow-fuse) yesterday I would have lost everything... its currently at 112.82... am I missing something? Please someone explain if possible...
He didn't recommend shorting it...he noted that the ES would likely close the divergence gap that had been created by de-coupling with the Eur/jpy
He also said to by the ES...
"This is as close to a risk-free pick up of 70 bps as one exists: buy the ES and sell the EURJPY." So "sell" in this case does not mean short?
But if you bought the ES and sold the Eur/jpy as recommended you would have still been up based on the pair. The ES closing the increased size gap would have offset the loss on the Eur/JPY side.
ok got it, thank you.
You're fucking high if you read that as recommending a short.
TD was pointing up that the gap would be closed. Anyone with a brain was expecting the closure to come from an equity rally, not a euro decline. It is quite clear that central bank intervention will not allow a euro decline below 1.10 JPY or 1.21 US$.
Wasn't that clear to me, but thanks for the info!
are you Hellboy from Way0t?
Way0t?
never mind
sell the EURJPY AND buy the ES
breathtakingly low volume here....
Obama leaked premade-handmade friday's jobs report!!!
Expect 1 Million+
http://www.businessinsider.com/watch-out-shorts-obama-just-leaked-fridays-jobs-report-2010-6
Cover your shorts or be trampled.
This is great news. I can see the future ZH thread now pertaining to the market selling off even with the jobs number of 700+ baked in. So it is time to raise interest rates then correct? I mean the recovery is on track right?
where the fuck are 1 million jobs going to come from the census?
birth-death model, of course.
BP's Gom cleanup?
If he wanted us to buy stocks Obama would of told us. Remember this,
"What you're now seeing is profit-and-earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it,"
Obama said this on Tuesday, March 4, 2009. Hum... What happened a week later?
I so fucking hate this criminal farce of a market
and the criminal fuckwads who run it
+ infinity
Possibly tha worst president in history.
Time will tell.
I'm starting to think of him as Uncle Tomobama.
Uncle T'ama
BP ramped 4.1 percent based on the same forecast.
490k are going to be birth/death
It will be interesting to read indepth and see how much is birth/death model related. What was it in the last report 188,000+ jobs due to birth death model?
Yeah.... like there will be a indepth report...
While I don't know exactly how birth/death works, when I looked at the stats, it didn't look like an every-month sort of a thing. I think that gets juiced every few months. Didn't the birth/death bounce just happen last month?
Until they revise it down 1M at YE. Presumably if the BLS was managing the data, it would seem that this month would see NO big B/D adjustment. Rather the Temp catagory will explode (the forward indicator of course) with manufacturing/construction showing continued progress (it is a manufacturing/building led recovery afterall). Services will show a nice contribution as will medical while education lags (seasonality) and government sheds (CENSUS offsetting contraction at states). The unemployment rate dips supported by an increase in the participation ratio. Those not in labor force falls which is seen as the healthier climate attracting those out of artifically induced retirement. U-6 also dips marginally. Wages lag as expected.
I would assume the purpose of the ramp job is to start a short covering rally.
Judging success or failure of the ramp job can be seen through volume.
hp cut 6k citi closed 357 branches and cut 750 jobs this week, but I HAVE YET TO SEE ANYONE ADD any, you would think that would be news wouldnt you?
BP +19.000 :)
I want a few congressional hearings right now about today's 'Flash'-melt-up. How could it happen? Who is guilty? Was it a fat finger, a leg or any other body parts involved?
Tha short leg in tha middle got excited.
holy hairball batman...the volume vanished
This is some pretty hilarious shit to end the day. Can we get a 3% gain on S&P? Heck, why not?
And watch the Euro tank right after the market closes.
wow, really trying to squeeze every point out of this thing...only way to keep the markets from selling off since no one is buying I guess
I think it is really great that we have a President that takes such a great interest in the investment markets. He'll be batting 1000 if he is right about the jobs report this week. Between golfing and investing, know wonder he has no time left for that running the country stuff.
The "O" man is not really the president, he just plays one on tv.
And for just a few million, you get send in your own script for tomorrow's show!
These are the days of our lives....
Is something looking bullish ?
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1
I just got skanked for 2k on that fucking bullshit ramp job.
I accept that I'm a stupid bastard for playing against the house, but I hope that the cocksuckers responsible for this farce of a market burn.
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