Here Is Why The Tadawul May Soon Pull An "Egypt Stock Market", And Close Indefinitely

Tyler Durden's picture

The first from a major bond trading desk:

Reports are circulating that there has been massive buying of Treasuries out of the Middle East this morning following the NFP report. The buying has been across the curve, with large concentrations in the 2-5yr sectors. Now that's a safe haven trade from the countries causing the stress in the first place.

And for those wondering why the Tadawul may do a reverse EGPT, and not open for a while...

We have confirmed reports of massive amount of money moving out of the country, most likely to Abu Dhabi resulting in a huge sellout in the stock market which saw a major decline in the past few days.

As for the dollar: it is a sad, sad sight what the dollar has become. Thank you Chairsatan!

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LongSoupLine's picture

It's on...bitchez!


Arthor Bearing's picture

Equities tumble, PMs rumble, it's OONNNNNN BITCHEZ

Cash_is_Trash's picture

In the red corner, a paltry underweight tarnished and raped USD, stabbed mulitple times by POMO, TARP, TALF, GSE's and gov't incompetence stands the mighty DOLLAR.

In the blue corner, breaking high after high with gleaming antibiotic properties and high demand in industrial and precious applications stands SILVER.

Now touch gloves and fight!

LowProfile's picture

Head's up, this could lead to short term dollar strength & PM weakness.  Keep your eye on the big picture (unless you're a Jack be nimble trader with balls of steel).

A Man without Qualities's picture

Without the support of the House of ibn Saud, the US Dollar is screwed....

Cognitive Dissonance's picture

Ben Bernanke: "Nothing that another helicopter drop can't fix."

snowball777's picture

The recovery will come in the form of helicopter manufacturing gigs.

InconvenientCounterParty's picture

A zephyr can easily whip the linen into the tail rotor. Make sure the helicopter is in the upright position before you bail.. k Ben?

rosiescenario's picture

...that was back is now B-52 Ben....faster transit time to NYC from D.C. and 50X the payload....I can picture Slim Pickens riding a pallet load of $$$$ ....

Cognitive Dissonance's picture

Ouch. I hope they had GEICO.

Now we know why Boeing got the "tanker" contract. The problem is that the first "tankers" won't be built in time to do much good even when they finally begin wholesale currency drops. Waiting until 2015 for the first one is too little too late.

I like the B-52 comment above. We have plenty of those in stock.

WALLST8MY8BALL's picture


Max Hunter's picture

Long term trend line is around 76.2 ish.. If I remember correctly.. Break that, and follow through could be bloody..

tmosley's picture

I believe the 2008 low was around 72.  Once we penetrate that, all bets are off.

equity_momo's picture

Break 72 coupled with inc expectations of more and more debt monetization and yup : capitulation bitchez.

Things have a habit of collapsing when least expected (not saying anyone here doesnt expect it , but all systems are weakened to the point of a catastrophic failure and then BOOM)

Hedge accordingly.

Agent P's picture

Does not having any money count as being fully hedged?  If so, I'd like to take this opportunity to thank my wife...

Oh regional Indian's picture

That was hilarious Agent P. Your hedge is clearly trimmed.


billhilly's picture

could be worse, you could have said "my EX-wife"... but, then again?!

alien-IQ's picture

actually...70.69 in March 2008. A break below 70 and we are in no mans land...without a net...


74.15 looks like a crucial multi year support. once that gets breached the decline could be quite sudden.

SilverRhino's picture

At 69 plus QE-Indefinite ... yeah I'll agree that it's over.

snowball777's picture

How long until we can close that disgrace in NY?

Oh regional Indian's picture

Someone is going to take a big bite out of NY. Literally and figuratively.

The whole Apple, Big Apple, Biblical Apple trio and their obvious inter-relation tot he present time blows my mind.

So how about... when the UN/IMF show their true colours.

Lucis Publishing, FTW.



pendragon's picture

in the competition stakes for the worlds worst investors only the japanese are probably worse than the arabs

Josh Randall's picture

Are you tellling me that Hawaiian real estate hasnt apreciated 1000% since 1979 ? C'mon who you foolin'...

TruthInSunshine's picture

Don't forget Nobel Laureate Economist Timothy Geithner's sage wisdom on China and currencies and inflation:

US Treasury's  Geithner says if China does not move on revaluing its currency, it faces much higher inflation
Bastiat's picture

This is why encouraging their people to buy PMs is so brilliant.  They were a little slow but it was the right move.

jeff montanye's picture

let's not pad his resume; it is interesting enough: he may speak chinese, have employed obama's mama, has worked for kissinger, the council on foreign relations and the imf, and he doesn't pay his taxes.  

scatterbrains's picture

btw what happens to options contracts once the NYSE closes down for a few months ?


TruthInSunshine's picture

If you are Goldman or JPM, Bernanke covers your premiums 100% on the dollar, and throws in a 110% 'assumed profit.'

If you're not a FOB ('friend of Ben'), lights out.

jeff montanye's picture

yes, in a nutshell, that's about it.  and, somehow, it doesn't seem fair.

OMG's picture

The Bernank is masturbating with glee Iran can't be too far off

assumptionblindness's picture

OK Chairsatan, you have got 15 minutes to do something about this!

gwar5's picture

After seeing what happened to the rest of the ME I can imagine the Saudis are getting their boodle out ahead of the riots. I bet they took note which foreign banks froze accounts too.

Spalding_Smailes's picture

Dollar was at the same levels in ....

78-80 & 90 & 92 & 95 & 08 -09 ...... But this time it's different.

Id fight Gandhi's picture

Your point? Economy was in the shitter each time during those years.

Spalding_Smailes's picture

And things got better, just like they are today.