This page has been archived and commenting is disabled.
Futures Testing Support As Liberty 33 Asleep At The Wheel
The impossible is happening with futures taking a big hit. Can anyone seriously recall when the Fed allowed this to happen last? The question tonight is who over at Liberty 33 is getting sacked (no pun intended) for this gross oversight. Do those people not realize letting the futures drop is treason and punishable by A. Joseph Cohen rereading Leonard Cohen, in roughly the same octave? If we take out what Bob Pisani would call the psychologically important barrier of 1200, watch for the S&P and gold (last seen at 1155) to play a nasty game of convergence. With the largest SPY put open interest at $117, we may just see a 30 point drop in the index if the "boys" don't intervene post haste. After all it is well known ponzis are only allowed to go up.
»
- 7745 reads
- Printer-friendly version
- Send to friend
- advertisements -
First thought that came to mind was that Goldman may be on the cusp of having serious legal problems -between their potential Lehman derivatives left flank, and the AIG lawsuit that ZH reported on interestingly claiming money laundering and illegal gov't hijacking of the company. If lights shine more brightly in those dark recesses, vampyroteuthis infernalis will also probably be spotted.
Perhaps GS is trying to send a message to its cohorts that their life will be a lot more difficult if GS is not around or caught up in other nets (instead of casting them). Or maybe reality and perception are starting to reconverge after a very long and wide separation.
Can't happen, shanking is not permissable. A little sheering perhaps for the recently converted.
Debt holders will never get a haircut but the retail investor can do with a little off the top. Must be TPTB covertly sending a caution to the sheeple jumping in to beware the liquidity melt-up. And they are startng to jump. The lure is irrestible.
Moth to flame: I can't help it, it's so beautiful.
Tyler, no one is asleep at the wheel. For all those calls that were sold this last week, the buzzword for this evening is decay. People holding negatively biased spreads are the only ones going to have skin in the morning if this holds.
buy the dips 101101010 buy the dips 101010101001
01001100 01101100 01101111 01111001 01100100 00100000 01000010 01101100 01100001 01101110 01101011 01100110 01100101 01101001 01101110 00100000 01101001 01110011 00100000 01100001 00100000 01110011 01101100 01100001 01110110 01100101 00100000 01100100 01110010 01101001 01110110 01100101 01110010 01001111 01001000 00100000 01010011 01001000 01001001 01010100 00100000 01001000 01000101 01010010 01000101 00100000 01001000 01000101 00100000 01000011 01001111 01001101 01000101 01010011 00100001 00100000 01000010 01010101 01011001 00100000 01010100 01001000 01000101 00100000 01000100 01001001 01010000 01010011 00100000 01000010 01010101 01011001 00100000 01010100 01001000 01000101 00100000 01000100 01001001 01010000 01010011 00100000 01000010 01010101 01011001 00100000 01010100 01001000 01000101 00100000 01000100 01001001 01010000 01010011 00100000
hehe... binary code translation: Lloyd Blankfein is a slave driverOH SHIT HERE HE COMES! BUY THE DIPS BUY THE DIPS BUY THE DIPS
Was watching the same thing on ES and SPY after hours. 51 days without a pullback. Shorty time. Shorting 1ES vs 3YG could be fun.
Whitehall Street International, Goldman Sachs' international real estate investing fund, has lost almost all its equity following soured property investments in the US, Germany and Japan.
The fund is down to its last $30m, from about $1.8bn, a loss of about 98 cents on the dollar, according to the annual report sent to investors last month.
The Whitehall disclosures are the latest in a string of losses reported by property funds that relied heavily on leverage.
Losses at the Goldman fund follow disclosures that Morgan Stanley's most recent $8.8bn property fund will lose as much as two-thirds of its value.
The Obama administration is seeking to restrict banks' investments in private equity funds.
Obama signs jobs plan = up 10% tomorrow
Oreobama and Congress are counting on the law of big numbers, plus the general stupidity of the masses, to present nothing as a big something.
$18 billion jobs bill.
Compare that to $56.7 billion in bailouts/guarantees to Goldman Sachs.
$285 billion to AIG.
$90 billion to BAC.
$300 billion to C.
$Trillions in interest lost by savers as a result of ZIRP.
Etc.
Was thinking the same thing. Big fucking deal.
And unemployment is still ticking back up. Trillions for nothing and your chicks for free. Let us see how they back talk job loss over 500+.
Today Santelli was saying, " Well I do not really see how many more jobs could be lost".
KWell 150-15 = 135 million So I would say quite a few since all these record jobless are not spending and are leading to more jobless.
actually,
all those jobless just quit paying the mortgage, is all.
They still get food stamps and unemployment insurance,
so they drive around all day in their SUV's,
stopping at mickey d's for lunch.
Who says this isn't from the GS/JPM/FRB playbook? Maybe the "All-Clear" signal has been given? We'll see. But if you own stocks, don't think the last time you saw "666" on the SPX will be March 2009.
We did recently have a 100+ point down day once on the dow (intra day only) and it really did look funny to me. The color red just didn't seem to register anymore. I've been trading for 10 years and in that time I made the journey first from all that crap they teach you in school, things like that we have free markets and a Constitution and contract law etc.... Things like that! onto, OK, things are messed with a little but you still have a shot, maybe that was in 03-05?, Now on to, this is a COMPLETE scam. I no longer trust any shred of government reporting, MSM article, My government, what money even is........ I've been bearish on the US since 04-05 and although proven right, don't have much to show for it. You are no longer betting on a micro or macro view, or fundamentals, today, you have to be literally betting on when THEY fail. When the whole game is up. That is especially tough to do with options. I know THEY will fail and maybe soon, but it is like trying to stop a tank w/ a pitch fork so far. We shall see..... There ARE limits.
Looking at these I see what you mean about the color red:
http://finviz.com/futures_charts.ashx?t=INDICES&p=d1
someone should tell 'the boys' that they should deviate a bit from the linear to make it seem less obvious.
TD - I'm terribly disappointed in you. You should know by now the bigger the gap down the larger the ramp up to follow. Geez - that was covered in the ZH Ramp Jobs 102 course. Was this a trick post?
It's all the volcanoes fault...that was the blow off top signal from the Red Shield to all their Illuminati cronies...gotta admit they've got a natural style happening especially with regard to the financial markets.
Volcano is going to be blamed for next bad unemployment report. You know, all those jobless people were stuck in Europe.
It's the new snow.
No sweat, the guy is on the way to 33 Liberty already, pedal to the metal, police escort, sirens blazing
False alarm.
A few people in the volume post from earlier today reported "wanting to do the unpopular move and go short overnight/into tomorrow", well, those are the ones getting trapped.
/ES isnt breaking 1200 imo.
Have to admit there have been plenty of fire drills on the way up though you just can't help but wonder what if this time it's not a drill...big if I know but what if just maybe this time it's different though seriously the 200MA on my hourly has been touched more times than a subway handrail but it just can't break through for some reason or another but this time just maybe we will
If the banksters want to keep Congress from regulating CDS and other derivatives all they need to do is tank the Dow 1,000 and Congress will do whatever the bankster say.
The PTB will go down with this ship. They have no other choice, for a decline now is even more dangerous than the decline in 2008. A decline now would demonstrate that everything the Fed's did was either dead wrong or in vain, and that there is no escaping the debt collapse and deflation. The buck stops at sovereign debt, which is where the world has transferred all the private and bank debt. There is nowhere else to go. The comments are already dribbling out of the Fed that "rates must remain low for the foreseeable future to insure this recovery (sic)", so the goal obviously remains inflation/currency devaluation at any cost. They will guarantee that this latest attempt at a dip remains a buying opportunity for the faithful, or the knife-catching cynics.
One only need look at JPM's results to see that traditional banking activity is dead and that without the ongoing gifts from the Fed, all the banks are dead. All of JPM's profit came from a combination of accounting gimmickry and proprietary trading. The absolute only part of this taxpayer saved bank that is making money is the underlying hedge fund. In fact, other than trying to service/hide its bad assets, JPM has become, like Goldman Sachs, merely a joint venture hedge fund, the partner being the taxpayer. The sad thing is that the JV partner's ownership stake is only in losses. JPM's side of the venture is the profits.
Given the shape of the yield curve, the low volume equity market, and the taxpayer backstopping, JPM---along with the other 'bank holding companies'---have absolutely no incentive to make another loan ever. All they need do is take free money from the Fed, put some of it at attractive points along the yield curve, and use the rest to ramp equities or commodities. Until the returns on these schemes fail to cover SGA and loss reserves, traditional bank activity will be dead. It simply is not necessary and carries risk the banks do not need to take.
Can anyone in the Fed or Treasury be so stupid as to believe their current policies will in any way encourage lending or lead to job creation? The putz's at CNBC might be that stupid, but the PTB are not; they simply do not give a shit if the taxpayer withers and dies. It is contempt of the highest order, and will continue until the people muster the courage to overthrow, via the ballot or the bullet, those who would oppress them.
Well said. They will kill the currency before allowing this market to drop again.
"a decline now is even more dangerous than the decline in 2008"
Exactly, the effect of a collapse would show that all the stimulus measures have done little to help. Pension funds will collapse under a combination of low equities and low rates, probably leading to more lawsuits against the bankers that told them REITs and consumer stocks were the place to be. All the industrial activity will simply result in goods collecting dust on the shelf, employment will take another leg down and investors will start reconsidering Treasuries given deficits as far as the eye can see.
It may well be time for a bit of a correction (often starts the day after JPM reports, don't know why), to bring some sanity back into the markets and because few people are buying at these levels, but I am with Marc Faber on this one, we won't see more than a 10% decline before the mystery buyer returns in force.
I still think it will collapse, but Bernanke won't see the flaw in his plan until crude gets to new highs, i.e. $150 plus.
We've all got to get ready to take it on the Chin...dit.
War is the six sigma event no-one really wants to think about, though the drums are beating loud and clear, everywhere.
And they who will give the signal to pull the major trigger know what they are doing.
Everything is conected, deeply, oldly, fastly, unbreakably.
Chartology is distraction for the quants, just as Tellyvision is for the masses.
Fundamentals....bah!
SPX GOLD convergence beat you to it
http://hedgedin.wordpress.com/2010/04/07/13-days-4-years-worth-of-gains/
It'll be short-lived. Futures turning already and by the time BAC & GE report, we'll be flat. The game continues.
lol, the dude from marketwatch is here; Bubble Kate Gibson is callin buddy, she says it's lookin difficult to paint a rosey picture in the morning
Kinito
same song
different blog
100% bear trap for fun, games and profit. Watching the volume today, though. And watch for Monday, the statistically impossible day for a down market to occur.
we are near an inflection point. the schizophrenic two worlds cannot co-exist forever in the same space-time continuum. Real employment is down, there is no lending to small business, the apple is rotten at its core. Levitation parlor games will come to an end at some point.
I smell blood, maybe & finally the plunge team has run out of funds? A couple hundred of more bailouts and several years of jobless recovery, and the French revolution scenario will become way too probable. Who knew?
Default, default, default !!!
you guys all get it wrong.. the Hal9000 is exhausted with all the last minute turboxtax tax return filing.. the deeper it dips the higher it will bounce tomorrow. 1300 is within sight.
15 Point pop on the futures between 3:10-3:23 AM.
that will be the Soros effect then
he seems to have more influence on markets than the squid.
http://stockcharts.com/h-sc/ui?s=QQQQ&p=W&b=5&g=0&id=p87189543726
It's all my doing... I broke into the HAL 9000 central processor room and pulled out a bunch of those memory modules... Daisy, Daisy....
Those AH drops in GOOG, AMD and ISRG are quickly being forgotten as the faithful sleep, visions of sugarplums dancing in their heads as the Fed makes every day Christmas. We might well be seeing green by daybreak, or after the expected better than expected results from banking cadaver BAC. Europe is already climbing aggressively off its opening lows, as Euro FinMins consider Greece's fifth bailout announcement.
Maybe I'm jaded, but I just do not think the authorities dare to allow even a one percent drop in stocks. The market expectations are simply too high now. Every day must be an up day, less the faith be tested.
Even if we are still red at the open, I doubt I am the only one who will be looking for the out-of-nowhere ramp that will mysteriously appear just when things look dark. After the ramp, the market players themselves will take care of a green close, setting up for the now guaranteed Monday Melt-up. The S&P Monday open is the new risk free rate.
Friday should good be good for plus 5 S&P points, and 40-60 on the Dow. I've got a knife and fork at the ready, and a little chili sauce, to eat the crow if I must, if the market actually has the audacity to close down. Indeed, I'm hungry for crow. I want to eat crow.
Agreed. Hate to say it, but buy buy buy.
5 pts on ES and 35 on YM since 2:30 est ....copper up.
TD you woke them up.... Dow hardly down at all now...
Market only goes up,,,must be a error.....
Is that a head & shoulders pattern forming on the ES now? (Starting at the peak seen late Wed)
If it is, that is a new con trick to fool new shorters into going short, so they can have some more target practice.
All old charting patterns no longer apply in this market
Thats what I've been saying. Charts worked well for George S Patton, But they don't work well for the market. When you have the Banks and the FED controlling the market, Charts, Puts, Calls User presentations, Volume, Earnings, PE Ratios, Analysis, Investors, Shorts, Longs, People, Taxpayers, Nations, Theories mean nothing. It is the Fed that controls the market. Its the Primal forces of nature that is what it is. I figured this out a long time ago.
Why yes it is!!
Report from NYC: Just saw a UPS truck pull up with a truckload of new servers.
Stay tuned.
Nicely executed bear trap. Close today above 1225 and set the stage for an easy ramp up to 1250 in the first hour on Monday morning.
Futures have recovered. Nothing new here. Somebody was just late to work thats all. Typical Friday ... GE earnings down but stock up.
BAC releases. "Strong trading results". Banking was bad.
Another US taxpayer subsidized and backstopped hedge fund.
And the fuckheads who run this government are going to praise the results to justify the trillions in bailouts, ignoring the fact that a hedge fund adds no value whatsoever to the general public.
Dear chindit13,
Your POV and comments are excellent. Do you think there will be any time between now and when Obama loses the election when the political class will overturn the TBTF hedge funds and split them up?
75% of JPM's miracle earnings came from investment banking activities = prop desk trading. Funny money activities.
Deirdre on bloomberg has said about five times now that the S&P may break it's weekly winning streak today. Very strange, given it's sitting up 15 points on the week and her chums are doing all they can to see the good in every bit of news that crosses the wires.
Get on message woman or you'll get a visit from Ben and Timmy.
She's helping to set the table for the next Bear Trap...
When people post these stupid "ponzi market" and "manipulated rigged HFT scam" posts then you know the rally has run its course.
How long have people been moaning about this market? 12 months non-stop?
12 months non-stop, and yet not one day too many
Phony market then, phony market now. Doesn't mean you put down the megaphone.