• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Guest Post: Wait For The Retrace

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Wed, 02/23/2011 - 10:18 | 988127 LongSoupLine
LongSoupLine's picture

on that note, silver just dropped 30 cents in 9 minutes on the CONex premarket.  20 cents of that in 1 minute at...wait for it...9:01.


Fukin' crooks!

Wed, 02/23/2011 - 11:11 | 988343 malikai
malikai's picture

Well that didn't work. Too bad. I'm in the "hoping for $10 silver" camp. Please Blythe, if you're listening to me, give us $10 silver! I will voluteer myself to be your personal slave for at least a day if you do.

Wed, 02/23/2011 - 13:26 | 989025 LongSoupLine
LongSoupLine's picture

well, the whore is trying it again during a low vol lunch blindside.  .35 cent bid stuff in 5 minutes.  hate that bitch.


BTFD and KBITS (kick blythe in the sacks)

Wed, 02/23/2011 - 10:16 | 988136 BobPaulson
Wed, 02/23/2011 - 10:30 | 988177 I Am The Unknow...
I Am The Unknown Comic's picture

great clip for the am.....thanks!

Wed, 02/23/2011 - 10:16 | 988138 FullFaithAndCretin
FullFaithAndCretin's picture

So, it might go up, it might go down. It might be sudden, it might be gradual.

Perhaps you should make up one of your minds.

Also, what disclaimer?

Wed, 02/23/2011 - 10:27 | 988164 arkady
arkady's picture

Bingo!  This post has no substance what so ever, just like a majority of investment forums and discussions.  Seen this too often, they present some TA, but then cover both bases.  Hello?  That is not useful to anyone.  Why does ZH post this kind of stuff?

Wed, 02/23/2011 - 10:29 | 988179 SheepDog-One
SheepDog-One's picture

We're supposed to believe there still is a stock market. Its cost many trillions to get equities up about 5% higher than 1999, pathetic, while the illusion is stock are on fire.

This is all nothing but a joke.

Wed, 02/23/2011 - 12:24 | 988698 dark pools of soros
dark pools of soros's picture

they mineaswell be predicting weather on the moon ...  who cares?

Wed, 02/23/2011 - 10:17 | 988139 monopoly
monopoly's picture

Patience, it will work out. This is not a 2 week investment for us. Just feel comfortable that you have protection against the inmates.

Wed, 02/23/2011 - 10:19 | 988145 cdude
cdude's picture

"But too many hedge fund managers and other traders have been waiting for a big dump to make their year, which means the big dump is suddenly less likely."

A near perfect setup for a short squeeze at the dma 50

Wed, 02/23/2011 - 10:31 | 988183 LongSoupLine
LongSoupLine's picture

lovin' the avatar cdude.  Bill is an all time fav of mine.

Wed, 02/23/2011 - 10:58 | 988287 cdude
cdude's picture

To these Bankster markets, I say: "aack!" and drop a hairball at their feet.

Wed, 02/23/2011 - 10:21 | 988148 DonnieD
DonnieD's picture

It's QE vs. a megaphone pattern in the dollar. A classic fundamentals vs. technicals matchup. I have Desperate Ben at -220 in this one.

Wed, 02/23/2011 - 10:23 | 988151 orangedrinkandchips
orangedrinkandchips's picture

bottom line: those cocksuckers who put this market on meth have no choice but to continue this charade and you know they wont "let the deal go down....no...no!"

Wed, 02/23/2011 - 10:23 | 988153 HedgeFundLIVE
HedgeFundLIVE's picture

we believe the retrace will last for at least 10 trading sessions: 


Wed, 02/23/2011 - 10:27 | 988168 LongSoupLine
LongSoupLine's picture

nice stats/odds

Wed, 02/23/2011 - 10:25 | 988157 ak_khanna
ak_khanna's picture

The stock, commodity and currency exchanges have been reduced to gambling dens whereby the more powerful traders with deep pockets move the markets to maximize their own profits at the expense of the remaining not so powerful players. The big boys have enormous money power to move the markets in the direction which results in maximum profits for themselves. They effectively use the media to lure the other players in the market to a position where they would incur maximum loss.

The markets will fall only when the banksters have eliminated all the short positions and only they themselves have positioned themselves to profit when the market falls
When an unexpected world event catches the banksters with their pants down and the softwares they use to rig the markets go berserk beyond their control.


Wed, 02/23/2011 - 10:28 | 988170 Johnny Lawrence
Johnny Lawrence's picture

I'm feeling this right here.

Wed, 02/23/2011 - 10:26 | 988160 fragrantdingleberry
fragrantdingleberry's picture

As always, these are just the ramblings of an amateur observer, and do not constitute advice nor are they intended as advice--please read the HUGE GIANT BIG FAT DISCLAIMER below for more.


i don't see no stinkin disclaimer. 

Wed, 02/23/2011 - 10:53 | 988271 gmrpeabody
gmrpeabody's picture

Disclaimer..., we don't need no stinkin disclaimer.

Wed, 02/23/2011 - 10:26 | 988161 SheepDog-One
SheepDog-One's picture

No one cares about stocks anymore, its a joke.

Wed, 02/23/2011 - 10:26 | 988163 umop episdn
umop episdn's picture

The market will take a dump when its owners want it to. Prolly just in time to make QE3 politically feasable.

Wed, 02/23/2011 - 10:26 | 988166 Theta_Burn
Theta_Burn's picture

Careful...with all this "evolution" going on, the perfect setup to let this fucker blow off a bit more pressure.

Prefect excuse for the The powers that flee"

Wed, 02/23/2011 - 10:28 | 988172 LawsofPhysics
LawsofPhysics's picture

The public markets will soon mean nothing.  It is and will always be about purchasing power.  This will be especially true when black market capital flows are 1000 times that of the public sham markets.

Wed, 02/23/2011 - 10:29 | 988180 snowball777
snowball777's picture

Look, Ma: No Margins!


Wed, 02/23/2011 - 10:33 | 988189 LawsofPhysics
LawsofPhysics's picture

+100 trillion derivatives, but way too intellectual for the average blogger.

Wed, 02/23/2011 - 12:28 | 988719 Urban Roman
Urban Roman's picture


Wed, 02/23/2011 - 10:30 | 988182 treemagnet
treemagnet's picture

Don't agree with the author.  The mechanics of the credit-induced, fractional reserve system on borrowed time goosed by a madman with rioting inmates in charge of polictics guarantees an implosion or nine.  Margin compression is the keystone.  Traders and hedge funds won't/don't matter these days as the author suggests.  500 trillion of derivatives interlaced throughout the world make the first domino as significant, maybe more so, than the last.

Wed, 02/23/2011 - 10:32 | 988188 Oh regional Indian
Oh regional Indian's picture

It's not time for the great equity puke yet. That will take a major event at home. That is the only way PTB will be able to justify all the rule changes made on the fly but ready for years in the wings, to make an even smaller sub-set of theirs whole again. 

Wash, rinse, reduce. Everything heading into a singularity.

But this week is not it. BDI has not hit three figures yet. Will all that sudden, new floating storage tanker demand keep it up for a bit? Maybe.

But it's weeks now. No going back till the pressure causes a blow-out though.



Wed, 02/23/2011 - 10:34 | 988192 chistletoe
chistletoe's picture

apparently, some people still have not watched the fuckin cartoon.


BTFD, morons.

Its different this time.

The market is going to rise forever,

at least until it requires a whole wheelbarrow full of stocks

to buy a loaf of bread ....

Wed, 02/23/2011 - 10:40 | 988206 UninterestedObserver
UninterestedObserver's picture

Maybe -but $100+ oil will keep money flows away from risk assets IMO

Wed, 02/23/2011 - 10:42 | 988214 UninterestedObserver
UninterestedObserver's picture

Except Apple of course - World War III? Buy AAPL! wtf

Wed, 02/23/2011 - 10:53 | 988215 UninterestedObserver
UninterestedObserver's picture


Wed, 02/23/2011 - 10:42 | 988218 spanish inquisition
spanish inquisition's picture

My general attitude is that technicals levels are being set by the Fed and they know a correction is needed. Preferably they would like to see 13-14K before a correction to protect the ownership on the downside. Once that is met, it is off to the races again. Speed bumps on the way are world events and the treasury cap. If needed, they will use a +10% correction to make their point with the polititians to raise the ceiling. If that does not work, some of the holdouts will get personalized manila folders on the benefits of Obama's Patriot Act extension. That ought a do the trick.....

Wed, 02/23/2011 - 10:46 | 988241 SheepDog-One
SheepDog-One's picture

Equities are pathetic, up an adjusted 5% or so since 1999, and its cost the taxpayer many trillions just to do that. Forget equities, stocks are dead.

Wed, 02/23/2011 - 10:44 | 988231 MolotovCockhead
MolotovCockhead's picture

Anybody got tips on how to interprete heavily manipulated charts?

Wed, 02/23/2011 - 10:47 | 988239 UninterestedObserver
UninterestedObserver's picture

Print them out, light them on fire and then piss on it - usually gives me a good reading

Wed, 02/23/2011 - 10:56 | 988280 DonnieD
DonnieD's picture

go all in on the bearded bastard and then go do something productive with your life.

Wed, 02/23/2011 - 11:03 | 988313 buzzsaw99
buzzsaw99's picture

the bernank

that is all

Wed, 02/23/2011 - 11:15 | 988380 max2205
max2205's picture

Megaphone....nope < is what a megaphone looks like

Wed, 02/23/2011 - 11:41 | 988497 dcb
dcb's picture

does anyone besides myse3lf plot out the s and p using speed lines. I don't know I find it rather easy using this. Am I alone?

it makes todays low a temp low, of course nobody knows, but worth shot by this

Wed, 02/23/2011 - 11:44 | 988508 Fercho
Fercho's picture

I don't buy it!

The corpse is rotting. And no ammount of makeup will make it look good for much longer. We are going dooooooooooooown!

Wed, 02/23/2011 - 12:19 | 988673 dark pools of soros
dark pools of soros's picture

the only bears left are doing cartoons about silver..  who has shorts in this market?

Wed, 02/23/2011 - 13:53 | 989207 sellstop
sellstop's picture

Thanks for that article, Charles.

Yes, the reaction is always the clue to the strength of the initial move.

And tops and bottoms are a process.

I takes time to change the mindset of the people in the markets.



Wed, 02/23/2011 - 14:14 | 989364 MarcusAurelius
MarcusAurelius's picture

Did you see this to confirm your theories?


Do you know from right here on zero hedge that quite simply there are not many sellers left. When everyone jumps in to sell that is not the time the markets plunge. Just the opposite. That is what has been keeping them up. Now with no sellers left after innumerable short squeezes we should see a nice sustained fall just about the time the retailers head to the ramp to load up the truck. I shorted last night's NASDAQ and have booked 27 points. The HFT bulls of course will be buying all the way down so that we should have a real nice fall. This is what happens when you try to ward off true corrections and stall the inevitable. I am not saying this is going to plunge but we are certainly going to do what Tom D. says and perhps more.

Wed, 02/23/2011 - 16:47 | 990184 Joe Sixpack
Joe Sixpack's picture

WFTR? I thought it was BTFD?



Tue, 03/01/2011 - 19:31 | 1009367 Geoff-UK
Geoff-UK's picture

Please, for fuck's sakes, stop posting shit from Charles Hugh Smith.

Do NOT follow this link or you will be banned from the site!