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Hand Over To Brian Sack Your Poor, Your Tired, Your Shitty Stocks Longing To Surge
In other words, today's POMO is now in full process. Too bad it is a TIPS auction and will likely be sub $1 billion, leaving the frontrunning market with a sour taste in its mouth, and various fading intentions 5 minutes before the 11am close.
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What helicopters? I don't see no stinking helicopters. Those are B-52 bombers, not helicopters!
The BIG story is the USDX. 77.13 last
Below the level of yesterday's open.
All the chinese BS that was tossed around yesterday has been taken right back out.
IF the $ heads below 77 today, look the fuck out!
77 will be defended tooth and nail by the Prechterites.
No doubt but they are nuts if they think they can take on the entire FX market. Wait a second, that's redundant. Nut Prechterites.
lol. nut... prechterites... b.sack...
i think i found a new name for the contents of my nut sack:
my two prechterites.
Agreed. Been my feeling since the story "broke". Elections coming, you won't hear about this much longer.
You're from Kenosha!? Hey, you wouldn't happen to know "Harry", wouldja?
Just daily BS tossing of the nuclear hand grenade back and forth now TurdFerguson! Thats all theyve got!
XLF now green.
Amazing how it didn't even break to new lows....
Amazing how the dollar immediately gets trashed during these POMO operations.
Bank stocks just got a big hard-on. What gives? Everything cool now? They fixed it? Great.
WFC went on their call and said that Wachovia was a great buy, their loss reserves are beyond adequate, they will continue with foreclusures. Apparently no one expected them to say these things.
Wow, now this is a pump job to take pride in. Almost literally fucking vertical for no reason. Now, that's amore'.
Literally, un-fucking-be-lievable.
You don't get it. The market sold off yesterday because of China (official story). Now that the dollar is getting re-trashed, there is no longer a problem.
OK, Roger that!
It's da fed beeeeeeeaaaatttttchhhhhhhhhheeeeeeeeeeezzzzzzzzzzzzzzzzzzz
Lots of Hail Mary passes being thrown today in an attempt to "catch up" for year end.
Notice how the worst stock ever in the S & P 500 is the top % gainer today.
No tangible negative news tonight either. Market will regain most of what it lost. Dollar falling again will fuel yet another "buy on the dip" fury.
And yes, it's a POMO day.
O to be a long only manager with 2 bil undr management at Fido - easiest job on the planet
The US is one giant criminal organisation. Nothing is on the level.
Chart: ES and ZB
Fuck POMO.
http://99ercharts.blogspot.com/2010/10/es-zb_7472.html
talk about running around without any clothes on.. or, on the othe other hand, algos' have no ears, can't hear the piper playing
Tyler,
I think that you've presented this before, but what is you source for the POMO schedule, amounts and offerings?
TIA
http://www.newyorkfed.org/markets/pomo/display/index.cfm
Thanks, berated.
This ramp was BS! Let's take it all back! Lol!
yah they should be cancelling all of those WFC trades during the 5% spike in 5 minutes. Uh-uh, do not short our financials. It's a matter of national security.
660 mil? you call that POMO ? ? ? ? ? man up, sack.
Two generations from the denouement of the summer of love and we've portmanteaued from the counter culture to the culture counter. Today's political discourse akin to the fellas at Stuckey's rippin' on anything that isn't white and male or subservient to same. The grizzly MILVF's, (Mom's I'd Like to Vote For) today's surrogate for dingbat housewife, the cynical pablum narrative akin to the hot meal waiting with scotch properly poured.
It's a feedback loop that doesn't stop giving. Besmirch the stupidity and the authors of same use such accusations as proof of their legitimacy. And the press? Trapped in the hell of cognitive dissonance. This just in... the science of ambulation but first a special report from a momma whose back was broken when yonder crack was stepped on.
In my life no matter what the pursuit there has always been a line of intellectual demarcation best described as retail and wholesale. Perhaps it is conceit to suggest that the chasm between the two seems wider than I've ever perceived but verily if stupid is as stupid does, the wholesale product has transcended the continuum of criminally stupid or stupidly criminal.
Economically we seem damned to exacerbate this Potemkin recovery into something that not even the Divine Might of Wizards can transmogrify. The Great Game as a scum scrum for the crumbs. The unarmed combatants staring at their impotent swords of currencies like Black Knights. Even if reality were to declare the 'fight is mine' the solons would proclaim it to be naught but a flesh wound as they launched the middle class, their chests as cannons, at the great whale of deflation.
Politically, the devils in red dresses, manchurian candidates of the fear industrial complex whose denizens are uniformly hell bent to seek rent, employing 'common' wisdom for the 'common' man for purposes of anything but the commons. Verily, they will hand power to the elites in a way that will beggar credulity all the while being incredulous at any treatises of reasons that might suggest contrary.
Not only must the windfall apples be reserved for the more equal of brainworkers but the tree of egality must be refreshed with the blood of your standard of living.
After World War 2, our blessed leaders, impressed by German 'organizational' skills crafted a policy of manufacture of consent.Over time these techniques moved to the economic realm in an attempt to manufacture content.Federales now risk the manufacture of contempt, for it is only a Great Depression if they say it is.(AM Rule #1)
Squircling the drain, the name for our pain?... the inculcation of disdain.
*%&$^# Eh what the hell.... Honey? Where's my scotch!
Per Zerohedge a few days ago, the FED's plan is to cause a retail stock buying mania...THIS is what its really all about! STILL trying to get retail Joe 24 oz (cant afford a 6 pack no mo') buying frenzy into them there stocks like its 1999, so the FED can offload its trillions worth of CRAP theyve been buying onto retail. Well its NOT happening FED! Get a clue you idiots! Bunch of BS! Nov 2 is as long as this nonsense goes on.
Not going to happen. The boomers have the $$ and don't want the risk. Gen X & Y are broke like a joke.
It's fucked.
Its not going to happen and they know it, so all this BS extend and pretend and pump has an end date scheduled...probably just getting the bombs placed around major US cities as we speak.
Agree, Boiler...
The internet is the game changer... Most people with money are better informed, and having seen the meltdown of 2008 and the way the money flowed to Wall Street and the huge bonuses, and the fraud and the corruption, and having the smarts to know that the conditions that caused the melt-down in the first place have just been swept under the rug, I don't think that they are going to rush back in to equities.
I was talking to a friend, a boomer, pretty smart, and he was informed and disgusted by what Uncle Ben, Timmay, and O were or were not doing... I think he is representative.
When you look around at our leadership - financially, monetarily, fiscially and politically - you just get the visceral feeling that something is wrong, very wrong... You've lost faith in our institutions because they are corrupt to the core...
Rush back into equities, I don't think so... Looking at Timmay and Ben fills me with distrust and loathing, not exactly the kind of traits you're looking for when you're deciding how to place bets with you nest egg... In this case, actions speak louder than words...
Corrupt incompetence
"The boomers have the $$ and don't want the risk."
What money they do have left. The "me generation" really fucked up this time, and I'm not talking about their (generalizing) parenting skills.
If the pump and dump strategy doesn't work, they can alway confiscate the boomer's money via monetization, no?
It is gonna be like earnings day. The runnup is baked in and Nov 3 is a new era of 'the unknown'. Change coming to a portfolio near you.
Buy on POMO days - not too difficult really, sell in between leave a bit open in case the market ever decides it's going to tank.
Agree,
The gap from yesterday on the ES has now been closed... Thinking about fading here.
I'm out...
Short from 77 half... Out at 74
Observations:
Easier to buy the POMO ramp job
Shorting is harder because of the HFT algo trade and PD participation
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
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