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Fully Expected Flatline After Volume Spike

Tyler Durden's picture




 

Equity Capital Markets - Redefining "sideways" ever since SkyNet took over.

 

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Fri, 08/21/2009 - 13:50 | 43637 mattco
mattco's picture

Pump and Distribute!

Fri, 08/21/2009 - 13:57 | 43670 mgarrett84
mgarrett84's picture

Anyone aware of studies of triplewitching and tops or trend reversals 

Fri, 08/21/2009 - 18:45 | 44082 flyfe (not verified)
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I know my two from Tennessee, Lamar Alexander and Bob Corker won't do this unless compelled to.

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Fri, 08/21/2009 - 13:50 | 43639 Project Mayhem
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Sideveys until all hell breaks loose

Fri, 08/21/2009 - 14:07 | 43698 walküre
walküre's picture

I think all hell broke loose when the dollar took a nose dive overnight. Would be interesting to find out who sold out their dollar positions. All commodities up on the dollar story not the bloomberg pre fab archived headlines that economic outlook is improving. It's fascinating to watch how scripted this all is.

Fri, 08/21/2009 - 14:09 | 43706 kensdad
kensdad's picture

exactly...  it works until it doesn't...  if some magic line is crossed then the auto-buy programs will start dumping with wild abandon.  why do i sense, however, that we haven't gotten close to that magic line in a very, very long time?

Fri, 08/21/2009 - 14:41 | 43801 AnonymousMonetarist
AnonymousMonetarist's picture

S&P is 15%+ 200 day moving average, party like its' 1999.

Rubber band being stretched, shouldn't be long now.

As above so below.

Fri, 08/21/2009 - 13:51 | 43648 zeropointfield (not verified)
zeropointfield's picture

Cruise mode after having achieved the daily target?

Fri, 08/21/2009 - 14:06 | 43694 Hephasteus
Hephasteus's picture

Once they retrace their fib targets they hold and let the free market tell them what to manipulate next.

Fri, 08/21/2009 - 14:29 | 43772 Anonymous
Anonymous's picture

We have a winner!

Fri, 08/21/2009 - 14:31 | 43783 Kaiser Soze
Kaiser Soze's picture

Bingo. We have a winner!

Fri, 08/21/2009 - 13:51 | 43649 ShankyS
ShankyS's picture

Sorry, but that ain't normal. Esp when it happens either way and multiple times per week. That is what a 70% imbalance contributes tot he market.

Fri, 08/21/2009 - 13:56 | 43665 Deficient Market
Deficient Market's picture

The pc term for that imbalance is "li-qui-di-ty", it's got elec-tro-lytes and is good for the market!

Fri, 08/21/2009 - 14:08 | 43700 Hephasteus
Hephasteus's picture

Didn't that used to be supplied by foreigners? Now it's just faked domestically.

Fri, 08/21/2009 - 14:13 | 43719 Anonymous
Anonymous's picture

Brawndo - The Thirst Mutilator (tm)

Fri, 08/21/2009 - 13:54 | 43658 Assetman
Assetman's picture

And just to think, the S&P futures were DOWN 0.50% as the FTSE was opening in London last night.

Thank you, Mr. Green Shoots!

Fri, 08/21/2009 - 13:58 | 43671 mgarrett84
mgarrett84's picture

As I tell the pot heads green shoots are meant to be smoked.  

Fri, 08/21/2009 - 14:24 | 43752 texpat
texpat's picture

It's like the Blue Angels, and about as dangerous.

Fri, 08/21/2009 - 14:05 | 43685 rhinotrader
rhinotrader's picture

Can Steve Liesman do any more canoodling with the people he is supposed to report on? 

Fri, 08/21/2009 - 14:05 | 43687 rhinotrader
rhinotrader's picture

Can Steve Liesman do any more canoodling with the people he is supposed to report on? 

Fri, 08/21/2009 - 16:03 | 43998 Anonymous
Anonymous's picture

i noticed that yesterday. i think he was hitting on mishkin

Fri, 08/21/2009 - 14:09 | 43705 Anonymous
Anonymous's picture

Rumors floating about of the Bank of Montreal soon to go down. Anyone else hearing this?? Could be huge.

----
The Bank of Montreal (in French, Banque de Montréal, and commonly BMO in either language) is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded in 1817, making it Canada's oldest bank.

In Canada, the company operates as BMO Bank of Montreal and has more than 900 branches.[1]. The company also has substantial operations in the Chicago area and elsewhere in the United States, where it operates as Harris Bank and as BMO Harris.

Fri, 08/21/2009 - 14:52 | 43818 Project Mayhem
Project Mayhem's picture

Yeah , I saw that.  Sent it to Tyler yesterday.   It's unconfirmed -- the rumor is out of Dan Amoss' Strategic Short Report.

 

http://www.stockgumshoe.com/2009/08/the-next-major-bank-stock-set-to-cra...

Incidentally, Bank of Montreal is scheduled to report Tuesday of next week.  Interesting, since FDIC *also* reports on Tuesday Aug 25, and FDIC will probably inform us it's been borrowing from it's $100 bn line of credit with Treasury, since for all intents and purposes, FDIC is broke. 

 

Is all  hell about to break loose?  Will FDIC come clean ?  Is Bank of Monstreal bankrupt? Will project Mayhem pick up a girl at Jimmy Valentine's later tonight?   Tune in next week to find out!

 

Fri, 08/21/2009 - 14:53 | 43822 Anonymous
Anonymous's picture

Don't believe it. They are more than well capitalized.

Fri, 08/21/2009 - 16:20 | 44041 Assetman
Assetman's picture

Guaranty Bank was considered well capitalized as well by regulators.

Do you mean, "super-dee-duper captialized"???

Fri, 08/21/2009 - 16:31 | 44062 Anonymous
Anonymous's picture

No, just meaning I know this company as well as anybody, and I'm not worried about it. No bank is a buy IMO, but don't waste your money shorting it based on a guy trying to sell a subscription to his newsletter. Click on Project Mayhem's link.

Fri, 08/21/2009 - 14:11 | 43709 leathaface
leathaface's picture

Bernanke says banks face significant losses?  NO SHIT!  Dont worry we are in a bull market. So BUY, BUY, BUY!

Fri, 08/21/2009 - 14:14 | 43729 walküre
walküre's picture

The circle jerk is the same all day, week, month.

Weak dollar lifts commods.

Higher commods lift stocks.

Higher stocks lift mood.

Better mood improves data.

Better data improves dollar outlook.

Stronger dollar lowers commods.

.. and so on and so forth.

In reality, nothing is improving or changing.

Companies continue to lay off people. Prices continue to crash through the floor.

Nice dollar drop overnight and oil ramp job today.

Can't tell you how predictable this market has become but 7 out of 10 trades are good for me.

 

 

Fri, 08/21/2009 - 14:15 | 43731 Eduardo
Eduardo's picture

The degree of control they can exert is incredible. It seems as they can flatlined up just exactly where they want.

Technicals, fundamentals and pretty much everything else is useless as the herd behavior has been replaced by the will of a single entity that can do as they please.

Every day it passes I have less of a clue about how is this going to end.

 

Fri, 08/21/2009 - 16:41 | 44068 dnarby
dnarby's picture

Badly.

Although it will improve - After we do an "old school JP Morgan" scrap and build on the finanical/monetary system.

Fri, 08/21/2009 - 14:17 | 43739 Anonymous
Anonymous's picture

Look its real simple. Weak dollar and higher bond yields to tempt the buyers back in for next weeks auctions. The auctions are the main event.

Fri, 08/21/2009 - 14:18 | 43741 TumblingDice
TumblingDice's picture

How long can this last... a lot of beras capitulated today.

Fri, 08/21/2009 - 14:21 | 43748 TwoJacks
TwoJacks's picture

don't you mean re-capitulated? rinse and repeat.

Fri, 08/21/2009 - 14:24 | 43756 walküre
walküre's picture

the day that you turn bullish

remember the day that GM went bankrupt, DJI was up 200 points.

Meredith Whitney declaring GS a buy, markets turned up

is like a magic show and the magician has a new act every time you think this cannot get any better.

don't wait for the pullback. get your bailout cash from the markets.

this is the new economy.

 

 

 

Fri, 08/21/2009 - 14:41 | 43800 Anonymous
Anonymous's picture

Bears killed by friendly fire. When the story is finally told, they might be rewarded a medal for sacrificing their quality of life so that America could be saved.

Fri, 08/21/2009 - 15:03 | 43842 Project Mayhem
Project Mayhem's picture

lol this is a fianancial cartoon waiting to happen.  it could be epic.

Fri, 08/21/2009 - 18:45 | 44083 flyfe (not verified)
flyfe's picture

TD. If you fucked the dummy for $780.00, that explains how they missed Madoff.......LOL LOL.

my newest bookmarked finance site ..http://www..
hat tip: finance news & finance opinions

Fri, 08/21/2009 - 14:20 | 43745 Anonymous
Anonymous's picture

"You're unAmerican!"
"No, you're unAmerican!!"

Oh sorry, I thought that's what we did on Zero Hedge now.

Fri, 08/21/2009 - 14:41 | 43779 D.O.D.
D.O.D.'s picture

Allons enfants de la Patrie,    
Le jour de gloire est arrivé !    
Contre nous de la tyrannie,    
L'étendard sanglant est levé,
Entendez-vous dans les campagnes    
Mugir ces féroces soldats ?    
Ils viennent jusque dans vos bras    
Égorger vos fils, vos compagnes !    
     
Aux armes, citoyens,    
Formez vos bataillons,    
Marchons, marchons !    
Qu'un sang impur    
Abreuve nos sillons !

Viva la Mayhem!

Fri, 08/21/2009 - 14:27 | 43764 Anonymous
Anonymous's picture

Similar modeling across markets:

First hour: reaction
Last hour: anticipation
Interim: news gaming

Fri, 08/21/2009 - 14:28 | 43766 Sancho Ponzi
Sancho Ponzi's picture

OT:

Paul 'Kranky' Krugman finally gets it. No, scratch that, people had to 'splain' it to him.

http://www.nytimes.com/2009/08/21/opinion/21krugman.html?_r=1

"And then there’s the matter of the banks.

I don’t know if administration officials realize just how much damage they’ve done themselves with their kid-gloves treatment of the financial industry, just how badly the spectacle of government supported institutions paying giant bonuses is playing. But I’ve had many conversations with people who voted for Mr. Obama, yet dismiss the stimulus as a total waste of money. When I press them, it turns out that they’re really angry about the bailouts rather than the stimulus — but that’s a distinction lost on most voters."

Nobel Laureate my arse

Fri, 08/21/2009 - 14:53 | 43823 I need more cowbell
I need more cowbell's picture

He's a sniveling little prick, utterly biased by his political views, such that he cannot have unemotional coherent thoughts on the realities of economies.

Fri, 08/21/2009 - 15:07 | 43851 bbbilly1326
bbbilly1326's picture

"utterly biased by his political views, such that he cannot have unemotional coherent thoughts on the realities of economies."

 

hahahahaha........pot, meet kettle  ...

 

 

Fri, 08/21/2009 - 18:45 | 44087 flyfe (not verified)
Fri, 08/21/2009 - 14:28 | 43771 Anonymous
Anonymous's picture

Will the deliveries of Natural gas(last trade day next Thursday) have to be burnt off next month?

AIG seems to be stuck between the 35 calls and all the $1 incremental puts starting at 33. Imagine that.

Fri, 08/21/2009 - 14:41 | 43797 Hephasteus
Fri, 08/21/2009 - 14:50 | 43809 mdtrader
mdtrader's picture

When the S&P is trading 200 points lower in October, I wonder how today's buyers will feel?

Just don't get it. Why is nobody selling at these inflated price. 18 times this years operating forecasts and $75 of operating earnings priced in for next year. Downside risk is 300-400 points prehaps more, and the upside is perhaps 100 points , maybe 175 points at the absoulte max. So the risk reward ratio is inverted for the buyers. That's just nuts given all the problems that are out there. Then again, Wall Street has been particularly hopeless at pricing risk, so I suppose I shouldn't be surprised. I just thought they might have learnt something in the last 2 years. I guess not.

Fri, 08/21/2009 - 14:51 | 43816 AnonymousMonetarist
AnonymousMonetarist's picture

I think they just might keep it over 1022 for 4 days to screw Janjuah.

I've been snortin' and shortin' over 1015 S&P. 

Fri, 08/21/2009 - 15:04 | 43844 mdtrader
mdtrader's picture

Well my 950 puts were looking much more promising two days ago when the market was down at 980, then woosh 45 S&P points in just two days and on the back of absolutlely nothing, no real news whatsoever.

Fri, 08/21/2009 - 14:54 | 43825 Anonymous
Anonymous's picture

With the recent talk of banning leveraged ETF's, is there any chance that SPY will get banned? After all, it's a triple leveraged dollar bear ETF...

Fri, 08/21/2009 - 15:08 | 43855 walküre
walküre's picture

I'm wondering about the viability of etfs.

Last year only a few picked up inverse etfs and made nice profits. Many tried the same this year and got burnt along with all other sport shorters.

Now they're scaring everyone that inverse etfs might get killed alltogether.

The day that happens the big boyz can crash the markets and leave everyone else out to dry again.

fyi... the Aussies cannot short their market. Is illegal to short the Aussie exchange. Chinese gamblers have no clue about shorting - yet.

 

 

Fri, 08/21/2009 - 15:33 | 43906 walküre
walküre's picture

The ASX is strictly monitoring short selling activities. It was banned in March and got lifted in May.

http://en.wikipedia.org/wiki/Australian_Securities_Exchange#Short_selling

"Many brokers don't offer short selling to small private investors"

Definitely not encouraged.

What's your feedback on Chinese traders and short selling?

 

 

 

 

Fri, 08/21/2009 - 16:31 | 44061 Hephasteus
Hephasteus's picture

Chinese market is the only major market on the planet you can't short. Period. You either buy or sell or shut up.

Fri, 08/21/2009 - 14:56 | 43830 Anonymous
Anonymous's picture

"Why is nobody selling at these inflated price."

Insiders are left and right.

Fri, 08/21/2009 - 15:10 | 43856 Anonymous
Anonymous's picture

The only way to stay sane in these markets is to sit back, enjoy the show from afar and relish in the small system glitches that peak through, you know like in the Matrix when something/someone would briefly malfunction and test denizens' faith in their "reality".

Sort of like how certain newswires will put out stories about stocks moving this or that way on some announcement- before the stocks have moved anywhere. Even better is when the stocks actually go the OTHER way, temporarily exposing the pre-fab nonsense that passes for financial journalism in most cases. I seem to recall that happen around the last Fed Statement.

Anyways, it's not hard to understand the allure of pre-fab journalism these days, very effective for a cash-crunched industry. Just used the same story- "stock surge on (whatever)" and change the date. Who even needs analysis?

Fri, 08/21/2009 - 15:10 | 43857 Anonymous
Anonymous's picture

Is the market being manipulated? Yes, and I have proof:
http://amoleintheground.blogspot.com/

Fri, 08/21/2009 - 15:16 | 43866 Anonymous
Anonymous's picture

One thing is clear: They are in charge of this market. The only reason it sputters is to keep the bears engaged and to provide new buying opportunities.

Fri, 08/21/2009 - 15:26 | 43887 Anonymous
Anonymous's picture

Its 3:30...

Not so flat anymore.

Fri, 08/21/2009 - 16:14 | 44030 Anonymous
Anonymous's picture

The market is so highly manipulated, I don't even know if people should try to profit from it!

Of course, the purpose of Zero hedge is to explain what is going on, and part of explaining means being able to correctly predict. So we will continue to try to predict.

But actually putting your money into this 'market'?

Thats why I will hold atleast a few ounces of gold, who cares, as long as you aren't forced to liquidate you are good to go.

How can all commodities go up on a weak dollar, but gold doesn't? Good luck buying gold with todays paper money in 10 years or so.

Seems the low prices of 2000ish were due to changes in production/mining technology, as well as co-ordinated central bank actions.

Fri, 08/21/2009 - 18:44 | 44080 flyfe (not verified)
flyfe's picture

Would be interesting to find out who sold out their dollar positions. All commodities up on the dollar

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