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UPDATE: NYT Full Of Crap Jay Carney Says.... Here It Comes: Obama and Boehner Close To Major Budget Deal, Long Bond Surges
UPDATE: CARNEY DENIES NYT REPORT: "THERE IS NO DEAL"
And this is what a market dominated by button pushing chimps looks like:
Originally:
Just breaking news from the NYT for now. 30 Year surging as long bond vol goes insane.
And here is the original NYT article:
The Obama administration has informed Democratic Congressional leaders that President Obama
and Speaker John A. Boehner were starting to close in on a major budget
deal that would enact substantial spending cuts and seek future
revenues through a tax overhaul, Congressional officials said Thursday.
With the government staring at a potential default in less than two
weeks, the officials said the administration on Wednesday night notified
top members of Congress that a bargain with Mr. Boehner could be
imminent. The Congressional leaders, whose help Mr. Obama would need to
bring a compromise forward, were told that the new revenue tied to the
looming agreement to increase the debt limit
by Aug. 2 would be produced in 2012 through a tax code rewrite that
would lower individual and corporate rates, close loopholes, end tax
breaks and make other adjustments to produce revenue gains.
Officials knowledgeable about the conversations between the
administration and Congressional leaders said the details of the
potential package remained unknown but they presumed it would include
cuts and adjustments in most federal programs, including Medicare.
However, officials on all sides of the tense negotiations warned that no
firm deal was in hand yet, and tried to downplay the progress — if only
to stave off attempts to block it or influence its shape by hardliners
on both sides of the debate on taxes and spending.
“While we are keeping the lines of communication open, there is no
‘deal’ and no progress to report,” said Kevin Smith, a spokesman for Mr.
Boehner.
And so on.
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No doubt, it will be uber bullish.
Good for +7pts on the SPX.
comical. shortest lived "rally". How many seconds did it last?
That would be so unfair if any bond traders just got wiped out because of a New York Times propaganda/planted/hit piece.
Has anyone seen Andrew Ross-Sorkin, by the way?
Hey, now that I think of it - where's Judith Miller?
Anyways - this New Normal is so fun! Never a dull moment, rumors just whizz by every fraction of a nanosecond, and the inverse of the inverse of the rational is the most or least likely to occur/or not.
Round trip baby.
Was that as good for you as it was for me.
Lie to me if it wasn't.
Having my after rumor cigarette now.
Nice Ponzigasm.
lol
Hysterical!
Bravo CDAD, BRAVO!
(that's what Ponzi said :>0)
Hell that wasn't even enough time to whip it out. (for me anyways)
Just call me Quick Draw McGraw.
http://en.wikipedia.org/wiki/Quick_Draw_McGraw
El Kabong FTW!!
The rally continues.
The DOW is up by 158 points.
We have no power.
And Steve Lisman still wants head.
Now get on your knees, bitches.
Anyway, so long.
And God bless all you Marxist cocksuckers.
http://geraldcelente.proboards.com
Tourette's?
no... that would allow non-responsiblity; the dude's just fucked-up
I put it an order at the time of the spike to short FAS @ 26 but didn't hit :(
I'm NOT believing any of this until someone sprinkles some pixie dust on my unicorn skittles!
20 ES points on Greece.
another 20 or so ES points on USA
puts us at a new 52-week sugar high!
Robo must be rolling in it.
uber bullshit
Yes, but damned entertaining. I can't even begin to describe how much genuine enjoyment I have gotten these past few weeks watching these establishment politicians squirm with a genuine intractable problem, one of their own making, and one that existentially threatens their survival. It's the goddamned funniest thing I've ever seen. It's been hard for me to work, I am spending so much time laughing my ass off.
"..how much genuine enjoyment I have gotten these past few weeks watching these establishment politicians squirm with a genuine intractable problem.."
I'm fairly certain that's not what you've been observing, but simply the usual "political theater of the absurd" -- meant to confuse and bewilder the lowbrows (guess who falls into that category???) while passing the original recommendations of Obama's Bowles-Simpson Deficit (privatize or kill Soc. Sec. and Medicare) Commission.
And never forget, long-time private banksters Erskine Bowles sits on the board of directors of Morgan Stanley***, while his wifey sits on the board of directors of JPMorgan Chase.
***"Out of all borrowers, Citigroup received the most financial assistance from the Fed, at $2.5 trillion. Morgan Stanley came in second with $2.04 trillion, followed by Merill Lynch at $1.9 trillion and Bank of America at $1.3 trillion."
http://www.rawstory.com/rs/2011/07/21/audit-fed-gave-16-trillion-in-emergency-loans/
And the GAO study (thx to youse guys, I loves youse):
http://www.scribd.com/doc/60553686/GAO-Fed-Investigation
It provides a nice insight, however, to how things will move when the thespians down in DC inevitably reach agreement on how they're going to screw us over. Gold's and silver's reactions are good examples.
DOW +500 soon!
Correct me if I'm wrong, but didn't we rally 200+ the other day on a debt deal. Now we're gonig to tack on another 200+ again. They should announce another deal tomorrow and we'll be at Dow 13,000
forget this bullshit circus and the equities markets
take a good long look at the shape of the long term parabola forming on
http://stockcharts.com/h-sc/ui?s=GLD&p=W&b=2&g=0&id=p89250833873&a=172502148&listNum=3
Ill bet we have a least of few more years (of kick the can) to finish the part of the curve before it goes vertical.
easy as pie!
Yes, but that was yesterday, and today is today. News today is news today, even if they're recycled.
Unless, they're negative, of course. Then they're "priced in".
wonder what threw stocks into a fit of ecstasy.
EU "Marshall Plan". Forced credit expansion to the stars baby.
It's almost as if this is just some political kabuki-esque farce to cover over the fact that both parties made a decision months ago to eliminate your SS benefits, and this act is just something they're doing to legitmize it.
I would say they knew they were going to cut SS, but they wanted to engineer a compelling reason to be 'forced' to do so. Presto chango, we now have a terrible crisis ready and waiting because they just couldn't agree to raise the debt ceiling. Like magic.
When someone doesn't want you to do something that you want to do, find some way to get them to beg you to do what they originally didn't want you to do.
"Suddenly I have a terrible tooth ache. Please smash my fingers so I'll forget about the tooth ache."
I was thinking the same thing CD. It was given that they would raise the ceiling, the question was what they are going to cut and how will they make it acceptable to the public.
Eat your peas.
Seriously CD, anyone seeing such brilliant moves has to know that there is a plan. THe whole system of how US laws get written and passed, and all the things that are "stuffed" into them... it's really quite masterful, these lawyers and acountants in CONgress had it all figured out for them by some genius strategist. He either left a blue-print or a brilliant plan at the very least.
It's working like clock-work.
ORI
CONfidence game. The marks keep playing.
Welcome to one-world grifterment.
Problem-Reaction-Solution
http://www.youtube.com/watch?v=4nRrSQs3NbI
Mr. Market is the sock puppet for this charade to satisfy "investors."
It's another great buying opportunity.
The DOW is now up almost 200 points.
I believe we should all give Steve Lisman head.
That fat bald prick deserves it.
Anyway, so long.
And God bless all you Marxist cocksuckers.
http://geraldcelente.proboards.com
it will be a 120 day fix
hi ho that dog that "wags the tail"
gee I wonder if the market will like it? LOL!!! Looks like a 300+ DOW day if the news breaks before the close. this is so pathetic I can't decide whether to scream or cry.
Downgrade is a coming.
So what. Its transitory.
Yippee!!! I just knew our wonderful mast...leaders would save us. We are just too stupid to exist without their devine guidance. I would pray to both of them if it wouldn't piss off the real G*d (Rudolf von Bernankenstein).
Who would buy a 30 year bond from the US, a country with a history of currency debasement?
It gets to a point where people deserve to lose their money.
Who would buy a 30 year bond from the US, a country with a history of currency debasement?
The FED!
LMAO
No below average portfolio manager of a below average portfolio ever got fired for buying U.S. treasuries.
Below Average...the New American Spirit of Excellence!
I called it.
PMs are sinking on the news. It's incredible how easy it is to call the elites on their game.
Thanks Blythe and co! We all appreciate the discounts on PMs!
Asia has been hoping for this...they will load up.
Agreed.
Everyone is freaking out about the new silver contracts launching tomorrow via HKMX. I'm not so optimistic. The last thing China wants to do is push up the price of the metals. They are BTFD just like us. HKMX will be more of the same. Only difference between them and the COMEX is that HKMX gives China direct access to physical metal.
I disagree. The new exchange will offer sellers a new outlet to sell PM's, the end result will be a more free price discovery, and could give London and Comex ( JP Morgan) fits. It is all about getting more control from the US and Europe. Then again, maybe the new exchange might be in bed with Comex and if so, all it will be is more of the same BS. I am personally betting on the Asians wanting more control over their economic future, and their desire to kick the hell out of the European and US bankers, market makers and governments. Dont forget about the soon to be opening Pan Asian Gold Exchange in the next month or so. These exchanges could be game changers. Good Luck.
Whoa! For a second I thought I was at the Market-Ticker with the:
Here it comes!
More like greece everyday. Waiting for the yields to explode on the 7-year and 5-years so that I can sell that paper for some more physical.
Another head fake to keep oil, gold and silver below 100, 1600, 40 respectively?
LOL lots of BS coming out now.
Deal no deal.
Some fucker is making mint jerking this shit around.
Nor sure I want to know too much about surging boners when in the presence of YoMama.
ORI
http://aadivaahan.wordpress.com/2011/07/16/66th-anniversary-of-trinity-and-thoughts/
DENIED! @#%ing smoked!
Is this an exit strategy for smart money?
LOL did JRogers shorted the long bond recently?
Like I said above.
He always said he was an awful market timer and that you should watch CNBC, Bloomberg and Fox News to know what to do...
The classical drama finding its inevitable conflict resolution after the retarding moment.
Oh Romeo, oh Romeo.
Oh Juliet.
Here it is:
The classical pyramidal structure of a drama according to Gustav Freytag:
1. Exposition
2. Rising plot development with arousing / triggering moment
3. Peak and peripety
4. Falling plot development with retarding moment
5. Conflict resolution = catastrophe
http://www.magic-point.net/fingerzeig/literaturgattungen/drama/drama-fre...
Another element may be the addition of a setting in which we can suspend dis-belief.
Hey! We are gonna go 2.5 Trillion deeper in debt so buy stocks! Comical.....
Also curious how a flood of debt incites a gold sell off. Initial reactions never seem to make sense.
"curious how a flood of debt incites a gold sell off"
Maybe some of the "smarter" fund managers are selling of their PM holdings in order to "take advantage of" the new T-Bill offerings with much higher yields?
Somebody at the NYT needs to go to jail.
And lots of people at Der Spiegel too... after all the BS they pulled with Greece.
what a fuckin circus.
Panem et circenses.
Just buy buy buy, deal: Dow up 5000 points, no deal Dow up 1000 points. There is no risk, BUY!
Is this the freaking Twilight Zone?
Final edit done on Press Announcement CHECK!
Numerical entries verified for financials upload CHECK!
Both fingers placed on ENTER key CHECK!
Launch in 3....2....1 CHECK!
And as always, no one is held responsible.
Everyone is guilty; no one is responsible.
Who wants to responsible? When ever anything goes wrong, the first thing they ask is: who's responsible for this?
come on! Really? I am gonna start a rumor that I have found Gold in the Gowanus Canal. Let's watch these F**kers jump in there!
Dow up 50 ....then down 30....lol
Paul Krugman off in la la land again?
Yup, an absurd circus with nothing but freaks in the main ring. So, they are selling gold because we have an agreement on raising the debt ceiling??? Huh. I did not buy my gold, silver for a yes or no on the budget, it is because of the debt and the fact that it is too late to save the system. Asking for another 2 trillion which would bring us to over 16+Trillion. That is so insane as to be mind boggling.
Not budging from my positions and daytrading this market is nothing short of idiocy.
Buying opportunities aplenty. May the dips be with you.
We just need a few more of this type of rumors to push the Dow to the infinity. At that time, the FED will promise to buy anything that is sold. Here we go, the american dream finally come true: infinity of money supply.
Now thats funny
I think I'll have a bread and meat sandwich to go with this circus.
http://img.megatorrents.kz/graphic/images/2010/January/11/443A_4B4B1327.jpg
What a sick, broken market. No shorts.
One wonders when everyone throws in the towel for good, lol.
We're Saved!
<UPDATE> We're Fucked!
i loled
Isn't every 100 point move in the DOW representative of $75 billion in market cap? I'm sitting here with my finger on "Buy at Market" for any rumor or statement but I'm sure the HTF's and Algo's are minutes ahead of me. I just continue to wonder where the money to pay the bills at all those trading firms is coming from on such low volume. For someone to win someone's got to lose and it takes $50 billion a quarter just to pay the bonus at Goldman. Come on Uncle Ben, cook us more rice!
Jeff Macke sighting!
http://finance.yahoo.com/blogs/daily-ticker/bunch-morons-washington-howard-davidowitz-handicaps-debt-ceiling-145318806.html;_ylt=Aio0FApXnw9grlCsbOQTiA27YWsA;_ylu=X3oDMTE2dDIzdW0wBHBvcwMxNARzZWMDdG9wU3RvcmllcwRzbGsDYWJ1bmNob2Ztb3Jv?sec=topStories&pos=9&asset=&ccode=
When they finally agree to raising the debt ceiling that is the time to add to miners, not sell. What a farce this all is. We are being laughed at around the world. The newest banana republic.
All about timing.
You'll definitely want to accumulate miners on the news. But miners WILL trade down on a deal. Look at what happened today on YET AGAIN another RUMOR. PMs and PM miners will drop following the official deal. I'm guessing that 1-2 weeks before QE3 is rolled out, PMs and PM miners will begin to rally. The further equities fall, the more and more obvious QE3 will become.
whiplash biotchez!
This reminds me of all those times daddy fondled me when I was six.
off topic!!!
zsl /agq tracking is all fucked up right now, careful
Bend over and grab your ankles shorties, this one's gonna huyyytt!
You're begging for it now, Leo.
Leo is starring in a Broadway Play titled 'Don't Cry for Me, Taxpayers!'
It's a tale of love, lust, greed, entilement and redemption, and tells the story of a 48 year old career civil servant who makes 168% what his peers in the private sector do, who retires with 140% of his last annual salary at (yep) 48 years of age, with lifetime benefits on health insurance, life insurance, a vehicle allowance, and then takes two other full time jobs with government, earning 2x 168% of what his peers in the private sector do, but at least he already has health and life insurance, and a car!
Yes I've seen the script.
He retires, invests in Detroit real estate, and then has all his land seize via eminent domain for 1 cent on the dollar to make way for a new Disney automobile-themed amusement park.
He dies penniless in a gutter on opening day, within sight of the new World of Combustion Pavilion.
I heard they are trying to get Andrew Dice Clay to play the lead.
New World of Combustion Pavillion sounds exotic, magnificent and everything Leo has aspired to.
I've been waiting to see the softer, kinder, more gentle Leo he announced was emerging from the cocoon.
Still waiting.
The sad thing is that what you wrote is 100% true, esp. in my State, the great bloodsucking parasitic state of New York. I know way too many people that retired from the state and are living like kings, way better than any private sector retiree.
You make me wonder wtf happend in the "private" economy around here. It was pretty even until about 30 years ago.
I can see Tyler's next post.
"Insider sellers/buyers ratio Update - 6 Million to 1"
That and the compression schtick
These chimps are really fast.
Turbo-chimps.
Damn those machines are quick. I came back from my bowel movement and WHAM!!! The market ramps up. As uncomfortable as it may be, I will try to hold it in next time.
"I came back from my bowel movement and WHAM!!"
I'm sure that there's an app for that. You can either take an iShit, or trade from the toilet with ScottTrade on your iPad (or Mac Airbook). Your choice - but Steve is expecting you to buy his stuff. Go, now, buy!
LOL.... I betcha the R&D depts all over this shit (so to speak)
Gee, and imagine all the ridicule I got when I covered some shorts last friday complaining of a 500pt rally on a debt deal. We're almost at 500 with no deal announced yet. Imagine that.
We will blow through 13000 when it is announced.
Likr the mind bendingly moronic TV Show.."Deal or No Deal!" The monosyllabic feckin morons on CNBC are clucking like chickens.
Barry the Kenyan or Boehner would be stupid to "do a deal" until next week. They have to play the Lame Stream Media card this weekend for full effect.
Fade the ES rally (stops of course), close out tomorrow.
man the crap move happens in less than a minute and if youare attempting to trade, ugh. this is why hft, has to go!!!
A One Time, Last Time, Sugar Rush! Debt is Debt and is for the sane among (US) NEGATIVE! So, DOW +300 at first then..woooossssshhhhhhh! Got more puts today! :))
OH by the way if you draw a paralell channel for tbt, the move also happened to happen at the bottom of the descending channel. tlt, tbt
obama and boehner have major deal in hand LOL
So, tell me again, who voted for those lying scumbag Tea Party Republicans who were going to change things? This whole country is a lying joke. These people care about themselves and that is all they care about. Whoever voted for any of these clowns deserve what they get, because none of them keep their word, EVER.
Maybe they can put an excise tax on all OMO activity and a duty on international discount window loans. Just start skimming off the top a bit.
I hope this does not lead to a VAT.
Imagine they save Greece to let the US default. The long bond would take every RISK asset down with it. Looks like TLT is going back to the Feb low at 88 if that breaks watchout.
If they do a deal or not the Downgrades are coming.. = Bond Bearish. Even the most despised thing on the planet TBT has a nice double bottom.
'Major budget deal'? Wheres any detail of it? Nevermind all that, any news-good news, ramp markets to 2007 highs!
Good news and volume are not needed to ramp equities higher, anymore.
I know you knew that. The market is rising unicorn farts and skittle/gorilla dust.
Matt's got another one out....
http://www.rollingstone.com/politics/blogs/taibblog/holiday-in-scambodia...
IMHO, the weekly chart of SPY says it all for me. It's rolling over just like the last half of '07. But who knows ... I'm not long on this crap, watch out this fall ...
I got whiplash this morning watching the charts...and the BS from MSM.
Don't forget that many US bond holders are long term VIP customers, "strategic partners", dictators, geopolitical VIPs, oil magnates, emperors etc etc.
They will not be happy seeing bonds dropping in value. Some of them will be reimbursed some other way.
But some will be really angry and screaming on phone. + speculators which will seek their chance for quick profit.
Assume that's why we'll see such violent swings more and more - is there any VIX for bonds?
price goes ack 4 hours
All I want to know is where is my goddamned helicopter filled with cash!