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Happy PIMCO

Tyler Durden's picture




 

PIMCO happy, Bernanke happy, Dollar mauled, $2.6 Billion POMO closed, Stocks flying. All is good.

 

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Wed, 08/19/2009 - 12:03 | 41148 Cheeky Bastard
Cheeky Bastard's picture

I'm telling you, Chinese are dumping like crazy 

we have oil lift of; and i have only three words to say; MAKE IT RAIN

 

my Asian shorts will bring me mucho dinero tonight.

Wed, 08/19/2009 - 12:27 | 41195 Fish Gone Bad
Fish Gone Bad's picture

I agree.  I think of this as the ant vs. elephant fight.  If there are some ants, the elephant kills them.  If there is an army of ants armed with chain saws, the ants win.

This might just be the ants armed with Chinese made chain saws.

Wed, 08/19/2009 - 12:37 | 41216 Cognitive Dissonance
Cognitive Dissonance's picture

Every in the MSM wants to believe China will save the day. What happens if they don't?

Wed, 08/19/2009 - 12:46 | 41245 Oso
Oso's picture

my man, its not that your explanation isnt sound.  it could very well be (would love to see the data point), but the OMO completion was announced around 11, that means they were buying around 10.  Its too coincidental that DXY puked right then, all at once. (and SPX went up) 

Spoke with some FX desks, you would have needed 1.5 - 2 bl dollars to sell to move DXY the way it did initially.  and, wow, what was the OMO for?  2.5 bl? shocking how ridiculously close those numbers are.

every day the dollar weakens is a day the baltic states become less and less competitive and China has to work even harder to keep its currency down.

 

Lizzy  - wonderfully timed comment, lol. ;)

Wed, 08/19/2009 - 14:26 | 41414 Anonymous
Anonymous's picture

I thought you said you didn't care about money? :)

Wed, 08/19/2009 - 14:37 | 41436 Cheeky Bastard
Cheeky Bastard's picture

i dont, its just a way to keep score.

Wed, 08/19/2009 - 12:03 | 41150 lizzy36
lizzy36's picture

growythness....

Wed, 08/19/2009 - 12:03 | 41151 Anonymous
Anonymous's picture

Something is amuck. They know that China's bubble is crashing, and are doing everything to keep our markets from going to shit.

I am so sick of this blatant manipulation. Fuck Pimco. Fuck Bernanke. Fuck Turbo Tax.

Wed, 08/19/2009 - 17:06 | 41281 vanquished (not verified)
vanquished's picture

RDN very was leading the market higher today.

Goldman and Bank of Amerika run the markets along with Geithner, and beagle boy Ben. There is no free markets, only welfare capitalism and socialism for capitalism.

good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions

Wed, 08/19/2009 - 12:04 | 41152 Raymond Shaw
Raymond Shaw's picture

Plunge Protection Team is in full action.  Or whoever they've outsourced this job to these days.  GBP/JPY went up and down like a crazy horse and now back up again.  Thankfully I took myself out at the first start of the upturn around 13:00 GMT, seen that pattern too many times to give back gains again.  Cable was slow to catch on but finally put itself in reverse gear and TP stop got hit.

Lesson for you gents and ladies - if you got profitable short positions in Asian and London sessions, be sure to take your thumbs out of your arses and watch them closely during the NY session otherwise be prepared to give it all back.

Wed, 08/19/2009 - 12:05 | 41154 Anonymous
Anonymous's picture

As we all know. Central banks are rarely effective in dealing with curreny. the mrket is wway too huge for any one entity to control. So eventually what is a right value will prevail

Wed, 08/19/2009 - 12:26 | 41192 dnarby
dnarby's picture

And what about several entities acting in concert?

Wed, 08/19/2009 - 12:07 | 41158 Anonymous
Anonymous's picture

To TD: how ould the s&p jump a whole 7-8 point in the doldrum time,just before traders go to lunch?may be you can show one of those screen shots in regard to volume!!!

Wed, 08/19/2009 - 12:14 | 41172 lettuce
lettuce's picture

yes, i am looking for a nice explanation on this ridiculous (and painful) short squeeze. the DOE report this morning was enough to chafe me but now this equity move is killing me. come on man!

Wed, 08/19/2009 - 12:25 | 41190 Deficient Market
Deficient Market's picture

I second (or third) that request! Although it's pretty obvious where the 2.6 billion for the ramp job came from, just want to get an idea of what to expect at the stick save

Wed, 08/19/2009 - 12:46 | 41244 Anonymous
Anonymous's picture

Its the dollar. I have no financial background, and even I can see that.

Dollar is starting to rally, cause China's bubble is popping. So Pimco comes out with a nice little story about the dollar no longer being the reserve currency so more of the idiots will short it some more, it drops like a rock, and the markets immediately move upwards. Its all computers, when the dollar drops, the computers buy. stocks up a percent, dollar down a percent. No one made any real money. Its not the PPT. You move the dollar, the program trading (which is everything that's going on right now) does the rest.

Wed, 08/19/2009 - 12:07 | 41159 Anonymous
Anonymous's picture

Uncle Joe's Budget

Wages = Down
Home Price = Down
Fuel = Going Up
Food Prices = Going Up
Money Left for Discretionary Spending = Zero

Things he has to have will go up in price, things he already owns will go down.

Wed, 08/19/2009 - 12:22 | 41187 Anonymous
Anonymous's picture

Gallon of gas: $3.50 on mastercard
Utility bill: $500 on mastercard
Christmas gifts for the kids: NOT GOING TO FUCKING HAPPEN!

Wed, 08/19/2009 - 13:05 | 41305 My cognitive di...
My cognitive dissonance's picture

Living in a tent city: Priceless

Wed, 08/19/2009 - 12:27 | 41196 Anonymous
Anonymous's picture

Inflation is more than higher prices. It is also a lower quantity and quality of goods and services for the same price, and new fees and taxes.

http://www.itulip.com/forums/showthread.php?p=116417#post116417

Wed, 08/19/2009 - 12:08 | 41160 Anonymous
Anonymous's picture

wtf is going on in our markets, why do we keep having days like this? i'm seriously at a loss to understand this...

Stocks…higher
Bonds…higher
Oil…higher
Gold…higher
VIX…higher

Wed, 08/19/2009 - 12:18 | 41182 ex ante
ex ante's picture

option expiration = premium burn at the 950 pivot is my guess

 

where is max pain now?

Wed, 08/19/2009 - 12:19 | 41183 ex ante
ex ante's picture

excuse me 995 pivot - 950 is the wall of support

Wed, 08/19/2009 - 13:38 | 41348 Comrade de Chaos
Comrade de Chaos's picture

see the ROBOT's market summary from the other day. Excellent visual, it's all about delirious herd moving in and out.

Wed, 08/19/2009 - 12:08 | 41161 mgarrett84
mgarrett84's picture

That was a tiny POMO.  Not the kind that should drive a market like this.  Was this emergency POMO  (did it catch everyone off guard?)

Wed, 08/19/2009 - 17:06 | 41280 vanquished (not verified)
vanquished's picture

Here's a thought.  Could it be due to the Gold ETFs?  Do they play daddy in the COMEX markets?

Goldman and Bank of Amerika run the markets along with Geithner, and beagle boy Ben. There is no free markets, only welfare capitalism and socialism for capitalism.

good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions

Wed, 08/19/2009 - 12:10 | 41165 Sancho Ponzi
Sancho Ponzi's picture

From: Fed

To: US Working Stiffs

Re: Take That

 

Sheeple:

How dare you cut spending and start saving! Can't you understand what those dollars you've been diverting to your local credit union and mattress of choice will be worth once we finish with you?

Look at all the money you could have made had those savings been invested in the market. Your behavior is irrational and illogical. Call your broker, buy more crap, go deeper into debt and everything will turn out okay.  

 

Wed, 08/19/2009 - 12:11 | 41168 Anonymous
Anonymous's picture

Raymond,
Amen to that. S & P up nigh on 17 points (sorry, just gone to 18 1/2) since the open, following the overnight fall in Asia one would have expected (oh, no, not these days) some caution. When this pops in the US/UK it's going to pop big time.

DavidC

Wed, 08/19/2009 - 12:14 | 41173 Anonymous
Anonymous's picture

Don't Fuck with Mandrake!

Wed, 08/19/2009 - 12:19 | 41180 mdtrader
mdtrader's picture

Well who knows what will happen with China tonight? Remember their market crashed 70% when the credit crunch started. People may well become nervous again with that event in mind and simply flee the market, now that it's off 20% from the high.

Wed, 08/19/2009 - 12:18 | 41181 Anonymous
Anonymous's picture

What drove the market up like that?

One of these days they are going to create such a vacuum underneath it will implode underneath their manuplation so fast it will take even the HFT manipulators off guard

Wed, 08/19/2009 - 12:30 | 41203 dnarby
dnarby's picture

Word.

I wonder what the straw will be.  Maybe Iceland completely implodes and just stops paying?

Wed, 08/19/2009 - 12:20 | 41184 rhinotrader
rhinotrader's picture

This market is like a upper cut from Tom Cable

Wed, 08/19/2009 - 12:24 | 41189 Anonymous
Anonymous's picture

Did today's FRB PR about margin changes at the discount window trigger the chart erection?

"New Discount Window and Payment System Risk Collateral Margins Table, Effective October 19, 2009"
http://www.frbdiscountwindow.org/20090819margins_announcement.cfm?hdrID=21

Wed, 08/19/2009 - 12:28 | 41197 Anonymous
Anonymous's picture

Who gives a f@ck if the market goes up or down. I'm all cash and giving the birdie to the Goldman cabal, I'm not willing to continue to become road kill everyday. Some one here obviously haven't learned their lesson yet.

Wed, 08/19/2009 - 12:28 | 41199 Anonymous
Anonymous's picture

It is to be assumed that the large structural works in order to rebalance the economies have to be seen through equities markets only?
So far nothing that has not been seen in 2005 ,2007,2009
Monetary policy expansion
Interest rates down and further
Fiscal policy will be up and up
Fiscal paradises the new axes of evils
Currencies few whipsaws
Balance sheets fraud and fraud and misrepresentation of truth (allowed)
When will we able to afford to be honest?

PS even the math quiz does not tolerate a true answer

Wed, 08/19/2009 - 12:30 | 41205 Miles Kendig
Miles Kendig's picture

Why do so many of you good people stil think that what we have can in any stretch be called "markets"?

Wed, 08/19/2009 - 13:18 | 41322 Anonymous
Anonymous's picture

Bingo

Wed, 08/19/2009 - 12:35 | 41215 Anonymous
Anonymous's picture

The priority of Fed to defend all markets is in the following order: stock market, treasuries, US dollar and house market. Get bullish!

Wed, 08/19/2009 - 12:42 | 41232 Anonymous
Anonymous's picture

I think they are overstepping the mark and creating a superbubble, but that's what they are good at so why stop I suppose.
After all, the real world must be in a horrific state if they are still defending them this strongly and so persistently
As the VP said.. got to keep spending to keep from going bankrupt

Wed, 08/19/2009 - 13:05 | 41303 Anonymous
Anonymous's picture

t=The bubble has already been inflated. They seem to be trying to move it sideways lately rather than to keep making it bigger.

Wed, 08/19/2009 - 12:46 | 41247 Anonymous
Anonymous's picture

I don't think so, even though it may seem like it at the moment. It's very easy for the Fed to move people into bonds. The only question is when they will do it. Not if. When.

Wed, 08/19/2009 - 13:07 | 41310 Anonymous
Anonymous's picture

Remember QE, Fed really does not need you and me.

Wed, 08/19/2009 - 12:51 | 41261 Anonymous
Anonymous's picture

The Fed would get far more friction in the economy if they did that defense in reverse order.

Wed, 08/19/2009 - 13:24 | 41328 Anonymous
Anonymous's picture

Agree. If that happens, US economic will be in much big trouble.

Wed, 08/19/2009 - 12:57 | 41278 vanquished (not verified)
vanquished's picture

Spoke with some FX desks, you would have needed 1.5 - 2 bl dollars to sell to move DXY the way it did initially.  and, wow, what was the OMO for?  2.5 bl? shocking how ridiculously close those numbers are.

Wed, 08/19/2009 - 13:00 | 41287 Raymond Shaw
Raymond Shaw's picture

Amazing.  Just amazing.  Thanks for the information  Vanquished.

Wed, 08/19/2009 - 13:35 | 41344 Oso
Oso's picture

um, ya.... thanks for the info.... vanquished........ didnt realized u were on the phone with me..........

Wed, 08/19/2009 - 12:57 | 41279 Anonymous
Anonymous's picture

To #41215:

Proper order is: Stocks up, treasuries up, houses up.
Gold down, oil down,(inevitably)
dollar down

Wed, 08/19/2009 - 12:59 | 41285 TumblingDice
TumblingDice's picture

These people are just sick.

Wed, 08/19/2009 - 13:06 | 41309 Anonymous
Anonymous's picture

I'm thinking about diversifying my hard cash into some other currencies just to hold for awhile, but I'm not a big forex guy. Does anyone have suggestions?

I'm thinking a good share will be Canadian dollars. Other recommendations?

Wed, 08/19/2009 - 15:00 | 41466 Anonymous
Anonymous's picture

The loonie has had a good run, don't think it could go much further.

Wed, 08/19/2009 - 16:20 | 41552 ratava
ratava's picture

AUD looks tempting

Wed, 08/19/2009 - 13:21 | 41326 Anonymous
Anonymous's picture

The Japanese won't be too happy that the Yen is heading higher, but the US gov don't care about anyone else as long as they can keep the stock market soaring.
after all if you can keep coming out with strong dollar statements month after month whilst the dollar falls off a cliff, you must be either stupid or ..... stupid...

Wed, 08/19/2009 - 13:48 | 41356 Comrade de Chaos
Comrade de Chaos's picture

AWSOMO has a new upgrade, the herd following algorithm. Forget all about fundamental and tech analysis. Those are just the memories from the past. Today, it is all about daring to jump in with the herd. The real strength is in the numbers. When we are together, we can achieve our dreams & improve our returns. YEAH we can.

p.s. This message has been approved by whiteflag.gov overseeing authorities.

Wed, 08/19/2009 - 14:12 | 41397 Anonymous
Anonymous's picture

This is short squeeze until you see a blow off top. up side capitulation is needed before yogi bear comes out of his hibernation looking for someones pickinck basket.

I am a tech guy and i really need a mirror image of what the spx looked like last oct or this march. I need hard upside moves on big volume four or five days straight through the upper bolli band. High confidence, and everyone is happy and the sun is shining everywhere phycologically in the press. The opposite is what happend in nov and march to flip us to the upside so the same tech applies for the reversal. Bottom pickers came out when shit was horrible and there was no light at the end of the tunnel, we capitulated and reversed. I am waiting to see this and i know it is going to happen soon. but i need to see the tech happen like how i describe above in order to act. remember, this thing will only flip over when everyone is super confident that things are awesome and i see 4 or 5 days of action through the upper bolli on high volume. Until then, were still moving higher i am afraid.

Wed, 08/19/2009 - 14:44 | 41447 milkum bilkum pc
milkum bilkum pc's picture

If you wait for exact duplication, you will be on the sidelines when the market moves next.  Sometimes, that is not so bad I guess.  Personally, I think that momentum is changing away from the bullish category.

Wed, 08/19/2009 - 14:41 | 41442 Anonymous
Anonymous's picture

No Susan, you are not delusional and paranoid, there is a conspiracy against you.....

Ciao,

Econolicious

Wed, 08/19/2009 - 14:42 | 41444 Harbourcity
Harbourcity's picture

http://www.bloomberg.com/apps/news?pid=20601087&sid=aIJDgFl_S0ic

"Demand for Treasuries will be sufficient to absorb the record amount of debt the U.S. is selling amid a $12.8 trillion pledge by policy makers to combat the recession, according to Goldman Sachs Group Inc.

Purchases by foreign investors will be augmented by appetite from U.S.-based buyers looking to add to savings or increase the duration of their assets, Michael Vaknin, an analyst for Goldman Sachs in London, wrote in a note today."

- no conflict of interest on this opinion - nope - Bernanke says hi!

 

Wed, 08/19/2009 - 15:29 | 41498 Anonymous
Anonymous's picture

The market is fine since early March. You all need to wake up and realize the crisis is over. I can't stop laughing at these bears!

Wed, 08/19/2009 - 17:13 | 41620 SpartanTnT
SpartanTnT's picture

Jim Cramer reveal yourself !!

Wed, 08/19/2009 - 17:14 | 41623 SpartanTnT
SpartanTnT's picture

Jim Cramer reveal yourself !!

Thu, 08/20/2009 - 03:53 | 42026 Anonymous
Anonymous's picture

All your dollar are belong to me.
Resistance are futile.

Thu, 08/20/2009 - 05:59 | 42045 Anonymous
Anonymous's picture

Cheeky has a better win ratio than Goldman Sachs. Supposedly.

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