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If There's Anybody Out There Trading... Anybody... Please. You Are [Not] Alone
"My name is Goldman Sachs. I am a taxpayer-sponsored survivor living in New York City. I am blasting on all Bloomberg frequencies. I will be at 85 Broad everyday at mid-day, when the sun is highest in the sky. If you are out there... if anyone is out there... I can provide SPY bids, I can provide SPY offers, I can provide securities and just a little liquidity. If there's anybody out there... anybody... please. You are [not] alone."
It is not yet noon, and the SPY volume is already about 17 million below the trendline. Nobody trades this market anymore.
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"Look everyone! The DOW is up 148 points today! Never mind that nasty old gold. Buy equities! See how good they are? Delicious!"
Yes, very delicious.
If nobody traded this market then how could it have such wonderful moments everyday?
I'm off for a well deserved afternoon of S. Florida kite-surfing. The wind if finally back!
Gotta love the Goldman bulls!
So who thinks oil is a good long at $80, or gold is a good long at $1100?
This kid doesn't think either is ATM.
Unless the DXY is going to push through to new lows this move today can set us up for a temporary double bottom in ze dollar.
Just trader opining, but if the S&P closes above 1070 and the DXY below 75 then i'd say there is room to run. But today's move re: volume and other factors feels like a headfake.
i am acquainted with a few intelligent chaps around these parts that might tell you gold and oil are both going to infinite. ;)
Do the "intelligent chaps" understand the concept of infinity? ?
Aside from the fact that the poster didn't flip the <sarcasm> light on I suspect anyone holding Zimbabwe currency over the past 10 years just experienced a close encounter of the third kind with something similar to infinity.
<sarcasm>
While one can argue if or when the US is in line for the same I thought that was the point of the comment. And why I didn't understand it being junked. I noticed lots of junking going on all weekend. Trolls?
They could both continue rising to infinity...over an infinite length of time.
gold is going to move back to the 50 day MA shortly..the move will start in 2 days at most.....dont get me wrong i am long gold and silver but the move is exhausted. esp silver
The 50 day MA is around 1025, so? Maybe, buy at the dip?
OK, maybe I missed the boat or woke up on the wrong side of bed this morning. But could someone please explain to me why the comment above by Oso was junked..... twice?
I really would like to hear why because obviously I don't get it. Anyone? Bueller? BUELLER?
http://www.youtube.com/watch?v=TO68zwTXFWk
Anyone with an opposing view or question on the validity of the current commodity rise is junked. I was too. This site is full of bandwagon jumping wannabe's.
Buy gold. Buy gold.
Give'er ladies. YOu all jump in with both feet, just like real estate, and the rest of the world will sit and laugh at your American "get rich quick" naivety.
wow - I've never been junked before. but, more signs of a frothy bubbly "I-dont-want-to-hear-you-if-you-say-the-opposite" type of a market.
Pigs get slaughtered - whomever junked me is a little too long certain items.
I think that oil is topped out - Obama can't afford high oil prices, so he will pop the speculative bubble with a big release of oil from the strategic reserve.
Also, if oil goes up much further, then the economy tanks again (well, continues to tank), and the dollar rallies whenever things look bleak (November and February). Why that is, I have no idea.
What an incredibly naive and uninformed comment. Let me make it easy for you. The dollar will rally when the Fed decides it will and then the price of oil and gold and stocks will come down. It has nothing to do with Obama and everything to do with those he reports to. Hint: Refer to the story content for who he reports to.
pssst.pssssssssst.yea you #124790.
Borock don't be givin no shi*s about no ekonomy.
tru dat
"MARK IT ZERO, DUDE"
Looking for the excuse for the 7 yr tomorrow - VWAP reversion, good sales numbers (because the bad drove it up), anyone, Bueller, Bueller...
Call Calpers, they'll buy anything.
http://exurbannation.blogspot.com/2009/11/calpers-crush-part-1.html
lol...especially IOU's from Mexifornia.
And poor CalPers is too hancuffed with illiquidity to fully participate in alternative run ups.
Sadly, SF Chron and LA Times are too broke to give this issue attention. Even though it's a hairball this cat will eventually have to cough up soon. As expected, the pension armageddon starts in Cali and it sure won't end there.
Thanks, Buzz.
Consider the low volume, then consider that 60 percent or so of that volume is meaningless HFT crap and you get a sense of what a zombie the market has become. As is the case with MBS, we have only one buyer and it's not selling. Taxpayers can be assured that this long-term buy and hold strategy will eventually pay off.
Friends don't let friends do business with the squid:
http://4.bp.blogspot.com/_zqzPMzXNGso/Su2-OfEnFXI/AAAAAAAADyQ/hMPQ--CzUrg/s1600-h/squid9.jpg
Personally ... I think that they belong in jail for pumping and dumping. If this isn't fraud then ... please ... tell me what is.
The intent is certainly there.
Please note that your comment qualifies as today's finalist and will be placed in a special drawing conducted by Tyler and Marla next year to claim the honor of being "Understatement of the Year - 2009".
Please don't bother calling, writing or e-mailing to determine if you've won the grand prize (an all expenses paid trip to 85 Broad for an entire week to view various assorted squid activities that pass for trading these days) because you won't be told even if you do win. Isn't it enough just to be a finalist? Now shut up and sit down.
:>)
TD,
Good points made (plus I liked 'I am legend') but what will eventually bust up this computer to computer trading?
Everyone seems to know the market is rigged but I have yet to see any solutions to getting it back in the hands of free enterprise and the Average Joe investor.
How do we take the market manipulators and stick a fork in them? I've observed this obvious crap for the past few years and until bloggers and the internet came along folks would still be thinking I was a conspiracy nut when all one has to do is watch the live graphs.
Even though its obvious no one has a solution.
Solutions anyone?
Pretend and extend, otherwise it goes to zero.
The problem is self-correcting. The problem is not pumped financial markets, but an economy that is built upon debt. Systemically, the income to support the debt continues to erode. This trend will continue and government mandated redistribution via tax and theft only provide a temporary extension of the game. Income will continue to flow into fewer and fewer pockets.
Problem = debt
Solution = savings and liquidation via repayment/default
The market will follow the path of least resistance, but along the way it will always stimulate emotions of fear and greed. The current trend is increasing fear among bears and greed among bulls. There is a lot of resistance to going substantially higher at this point.
The parasite has feed so freely that the host is likely to die.
stop trading
The NYSE is an entrenched, private, insiders club. It's been that way for over a hundred years.
I'm continually amazed by how people act as though what's going on is something new. The only thing new is the technology.
The solution is to get rid of it and start over with a different system. Good luck with that.
HAHAHHA. I was dying laughing out loud.
"When Macy's has a sale, it lowers prices. When the stock market has a sale, it raises prices."
Richard Ney
I had a feeling the volume would be low.The market disconnect from main street is simply appalling.
Bloomberg TV is upbeat and giddy today... nauseous.
It's everywhere and in my opinion a sign of the coming apocalypse. I've mentioned before that our brains release powerful and pleasurable chemicals when we experience confirmation bias.
In the view of many who so desperately wished to believe that the big bad recession (or God forbid Depression) is over and the body is healing, this continuing rise is confirmation of their views. There is nothing quite as exhilarating as taking a big risk and then getting the payoff. Woo-ha!
Since the financial channels see everything through the lens of (primarily) the stock markets, the past few months have been as tasty as the nectar of the Gods. I'll know we're near the end when Becky Quick rips off her 2 sizes too small blouse and runs off the stage screaming "we did it, we did it."
Well, maybe not. Sue Herera anyone?
OK, MCC it is. Jesus, you guys are pigs.
You're not likely to hear any MSM negative economic news until next year as this is a no holds barred attempt to spur holiday demand. They'll pump the market with everything in their power in a desperate attempt to get consumers to purchase $300 WalMart notebooks and other crap. The Fed needs the tax revenue, and they're praying for a good holiday season so yet more businesses don't go bankrupt. If things go badly, watch out for CRE to bottom while all levels of government scramble to fund programs and make payrolls with tax revenues that don't meet projections.
Best comment so far Sancho.
The political angle is also to keep the market elevated while the senate considers the universal health care plan - how could we pay for a $1B program if the market indicates the economy will be worse off in the future (because of course the market is efficient and all knowing he he he).
Excellent points...both Sancho and Apoc.
The Big Play is ObamaScare. By year end. By any means.
That was hilarious!!
Ben to his favorite bartender...."I do care about the weakening dollar" ....waaahhaa...how was that?
By far one of your most witty posts TD. Im was barely awake when I read this, laughin my ass off man. Clever.
AS I PASS through my incarnations in every age and race,
I make my proper prostrations to the Gods of the Market Place.
Peering through reverent fingers I watch them flourish and fall,
And the Gods of the Copybook Headings, I notice, outlast them all.
We were living in trees when they met us. They showed us each in turn
That Water would certainly wet us, as Fire would certainly burn:
But we found them lacking in Uplift, Vision and Breadth of Mind,
So we left them to teach the Gorillas while we followed the March of Mankind.
We moved as the Spirit listed. They never altered their pace,
Being neither cloud nor wind-borne like the Gods of the Market Place,
But they always caught up with our progress, and presently word would come
That a tribe had been wiped off its icefield, or the lights had gone out in Rome.
With the Hopes that our World is built on they were utterly out of touch,
They denied that the Moon was Stilton; they denied she was even Dutch;
They denied that Wishes were Horses; they denied that a Pig had Wings;
So we worshipped the Gods of the Market Who promised these beautiful things.
When the Cambrian measures were forming, They promised perpetual peace.
They swore, if we gave them our weapons, that the wars of the tribes would cease.
But when we disarmed They sold us and delivered us bound to our foe,
And the Gods of the Copybook Headings said: "Stick to the Devil you know."
On the first Feminian Sandstones we were promised the Fuller Life
(Which started by loving our neighbour and ended by loving his wife)
Till our women had no more children and the men lost reason and faith,
And the Gods of the Copybook Headings said: "The Wages of Sin is Death."
In the Carboniferous Epoch we were promised abundance for all,
By robbing selected Peter to pay for collective Paul;
But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: "If you don't work you die."
Then the Gods of the Market tumbled, and their smooth-tongued wizards withdrew
And the hearts of the meanest were humbled and began to believe it was true
That All is not Gold that Glitters, and Two and Two make Four
And the Gods of the Copybook Headings limped up to explain it once more.
As it will be in the future, it was at the birth of Man
There are only four things certain since Social Progress began.
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool's bandaged finger goes wabbling back to the Fire;
And that after this is accomplished, and the brave new world begins
When all men are paid for existing and no man must pay for his sins,
As surely as Water will wet us, as surely as Fire will burn,
The Gods of the Copybook Headings with terror and slaughter return!
* http://en.wikipedia.org/wiki/Copybook#Copybook_in_education
I know that isn't you....If it were you, you would have signed off
I am chumbawamba. Shapeshifter!!!!!!!!!!!!!
Shorts raped, pillaged, and punished once again. Buy any fucking thing, this market will not go down. DOW 20,000!!!
You and Rosie are the only shorts left. Hint, hint.
I'm not short, just a spectator. I gave up on this casino a few rocket shot up moves on no volume ago.
Perhaps Goldman can trade just internal, becoming the world exchange. It could just swallow the entire financial community. Then Lord Blankfein can do more of God's work, a great social enterprise that GS
I suspect the derivatives market is the tail wagging the dog (exchange traded instruments). Who knows what they are cooking up behind the curtain? We can only hope we avoid a sudden stop.
The flow of funds into domestic equity funds has been negative every week since August! Through 10/21, flows are a negative $26.5B since 7/31.
Hedging miner longs with EDZ, decay notwithstanding. If the USD carry trade unwinds, that one goes to the moon.
So, how thin does real human-type trading have to get before Bloomberg and CNBC stop covering the equity markets?
Because they're just rotten zombies now. There's not much point to it.
I've figured out Goldmans HFT algorithm!
It just scans macro headlines and looks for the words....more and stimulus!
genius!
No, it’s not “morning in America.” It’s twilight in America. Richard Benson, in one of his rare and milestone articles, dramatically compares the twilight zone scenario of two worlds—our world and Goldman’s world.
November 9, 2009: "Twilight Zone Economy"...
From 1959 to 1964, Rod Serling created and directed the ground-breaking series “The Twilight Zone” which will never be forgotten by anyone growing up in the 1950’s with a black and white TV. The weekly episodes revealed with ironic, perplexing and totally unexpected results, what happened to otherwise normal people whose lives were forever changed once they were transcended into a parallel world where different rules applied. This altered world correlates in many ways to the US economy today as millions of people are realizing that nothing our government says seems to be real, and the rules we thought applied, don’t any more.
For example, the price indexes continue to be manipulated down with hedonic adjustments which continually change price weights to always favor lowered-priced, over higher-priced, goods. This manipulation in the price indexes virtually guarantees that GDP, which is a price-adjusted number, will grow 1.5 to 2 percent each and every year, even if there is no real economic growth at all! Moreover, the White House has created a novel way to measure how it has created or saved 640,000 jobs through economic stimulus.
Only in a world where rules no longer apply would you see a big brother government claim they created 640,000 jobs when, in fact, over 640,000 jobs were actually lost in the last three months alone. The surge in the headline unemployment rate to 10.2 percent, and the broad measure of unemployment (the U-6) which hit a mind-numbing 17.5 percent, make a mockery of the economic stimulus package.
I’m also not alone in pointing out that over the past 12 months the Bureau of Labor Statistics Birth Death Model has added 850,000 mythical jobs to the Payroll Employment Survey. By all accounts, this data is false and is a stunning example of statistics created in outer space where only happy talk is allowed, and, unbeknownst to the people, psychological warfare is actually taking place against them behind the scenes.
The official numbers are so bad and inaccurate that a business has emerged to show what the real economy actually looks like. (See John Williams’ excellent “Shadow Government Statistics” at www.shadowstats.com).
In this world of illusion, the government wants you to look the other way. They certainly don’t want you to see that less than half of the credit losses that will need to be taken have been taken, for home mortgages, credit cards, and toxic commercial real estate loans. And that’s not all. Economic statistics that show real declines (but at a slowing rate of decline) are advertised as increases, and even though new records have been set for the length of time that workers have been collecting unemployment, and filings for early retirement, food stamps and social security disability have spiked, these facts are rarely reported.
Government tricks are wearing thin and consumer confidence is waning as a massive credibility gap begins to widen between the people actually living in a real nightmare they have never before experienced, and the world as reported by government statistics and markets. This has caused concern on Capitol Hill that restive peasants may gather in the streets and go after bankers with their pitch forks when these same bankers should be contributing to PACs in the coming election year.
Past recessions were caused by an overbuilding of inventories that needed to be corrected. This recession is far worse, however, and it mirrors a 1930s-style depression that needs to purge a massive over-extension of credit. The next few years are going to be rough for many people living on the edge, and nothing, in my view, will change until new good paying jobs are created. Remember that in any recession, meaningful job growth lags the official end of the recession by 12 to 24 months, so we can expect unemployment to continue well into 2011 for sure.
It’s unfortunate that Rod Serling has passed on because if he were alive today, he would be filled with plenty of ideas for a killer episode of his program, showing how propaganda and the Fed’s printing press can be used to wipe out jobs, eliminate prosperity, and rob savers. The cast of characters would be played by real unemployed people playing truly heart-wrenching roles. The economy desperately needs new scriptwriters.
http://www.sfgroup.org/Twilight%20Zone%20Economy.htm
(bold emphasis mine and not the author's)
this otherwsie interesting post to be deleted unless a "Goldman Sachs is evil" angle can be reworked into the storyline.
Check the news on Bloomberg and if that’s not Goldman’s world, I don’t know what is.
Good post, thanks, though the concern on Capitol Hill the author speaks of is unfounded, the sheeple will never revolt, that is why they are sheeple.
Gerald Celente is calling for a new third party coming, before 2012, that will be progressive-libertarian—to get government out of our lives. It’s on video in an interview with King World News.
Here's what Allen L. Roland had to say about the interview: "Listen to the highly respected Gerald Celente, who pulls no punches, announce that the political system is failing the America people and that the Banks (Oligarchy) are robbing us blind. If you're not outraged, you're on life support. As Celente predicts – watch for the formation of an angry Progressive / Libertarian third party before the mid-term elections in 2010 (actually Celente says 2012) and I'll be an active participant.”
http://www.lewrockwell.com/celente/celente19.1.html
Anyway, I followed Roland’s advice and listened in. It was worth the time. Celente was in top form. It was enough just to hear him say that if AIG hadn’t been bailed, Goldman Sachs would be bankrupt. His shots at America’s money junkies, her Wall Street Crime Family, were on target. Celente names names and says these money junkies have been emboldened by their failures, and are robbing us blind to get their next money fix, and will take us to war to satisfy their habit of greed. For producing what, for making what? Celente asks. We don’t need Wall Street, says Celente, we need Main Street.
As for Republican/Democrat twin rule in Washington, says Celente, “They are not my leaders; they are political hacks.” He says we need a third party and that the events of this summer indicate we are already in response.
And, oh yes, one parting Celente shot: “You don’t get healthy eating corporate food.”
Well, we can hope. As one cartoonist summed it up in the words of an excited investment banker looking out his window at an advancing angry crowd of protesters: "It's time to invest in pitch forks."
Here is the real question:
If all asset class pricing goes to the moon will the US consumer tighten their purse string even tighter causing further economic chaos?
I think so very much thank you.
Good luck to the inflators who cannot really understand what is going on here....
A hockey analogy.
A player is check hard into the boards with their hockey stick getting jammed in between the boards and their solar plexus. This player will tell you that they cannot regain full breathing for at least 5 minutes after the initial shock wares off.
A fully mortgaged home owner is that hockey player above. And the 5 minute analogy is prolly more like 5 years in their terms.
This market is just unreal.
Well, for the record, I am trading this market, from the short side (as always), within callspreads. Did nicely from the last drop too, with vol ejaculating all over my screens, thank you very much.
Hope you are prepared to swallow, no gagging
News Flash! Goldman changing its name to GODman Sachs!
http://www.cnbc.com/id/33783316
They are so misunderstood. It's not easy doing God's work.
Ok I was wrong the market only ever goes up. I shall mortgage up, leverage up, and stick it all on the markets. I cannot lose and even if I do, I will simply apply for a government bailout.
JPM hiring 325 added bankers.
All good, the punch bowel is back, so let's all party and get drunk again, like it's 1999.
Free money will be borrowed and spent. Who cares if it ever gets paid back, just print more. Valuations are now irrelevant, just make sure the dollar is weak and success is assured.
Now you are learning, didn't I tell you that months ago?
I guess some people playing the equity markets take a while to get it. Trade in the MBS market for awhile, and realize the Fed IS the MBS market, then you might understand how easy it is for a printing press to push financial assets ever higher by killing the unit of measure.
Volume is light across the board today, but the financials are great: C up 3% but can't top 146M, and BAC up 4% but just cracked 93M. I guess we're seeing the skeleton trading that takes place when humans have walked away?
The State is dependent on tax revenues, therefore its' policies must be inflationary to create phantom paper asset gains when real assets are sold, triggering capital gains taxes. The State can only survive if they inflate the currency. In a deflationary episode, the State is starved. This is about survival and growth of the State, inflation is the weapon; savings and individual liberties are the casualties. Inflation is treason!
Light volume is bullish, it means that computers can easily the drive stock prices even higher.
Time to press 'RESET,' begin "The Great Unwind" and "Mark it ALL Zero"
Poke it with the world's biggest fork, because it's done. Dead squid flopping.
Jump! You Fuckers!
might as well, here it is...
Jump You F*#kers (A Song For Wall Street)http://www.youtube.com/watch?v=yge311sFhC8
Poor Americans,
So close to Goldman Sachs, and so far from God.
Reminds me of March again.
Don't fight it to the short side.
DOW 12.000, S&P 1200, gold $1200 within 2 months.
GS/JPM operate as part of the US Govt. This market rally is directly related to passing the socialist agenda in congress. Once passed, the socialist will turn on wall street and this market will tank.
GODDAMIT FRANK!
Does it matter? I wish i could get long right now! Seems like this mkt will never go down.
Were up 450 pts in 3 days. I am fucking exhausted.
I don't think it should be legal to profit both ways while speculating. Sure, go ahead and speculate but be ready to lose if your predictions turn out to be wrong. That is the only way you can actually be providing liquidity and stabilizing prices as a speculator.
That's it, watch the birdie then ...POW!
I'm not a figment of your imagination. I am legend.
There is absolutely no event/news whatsoever that shakes this baby down signifigantly. It's now set a higher end to the prescribed range. But the boyz will shake it down by weeks end on news they already know is coming, break through the 30 day, then fart it up to the high end again....and again...and again.
Keep those 10,000 hats dusted off.
Bitches just be all up on my nuts. I can't put a stock out on the market without everyone trying snatch it up. I can't do an IPO without everybody jumping all over it. I'm just all in demand and shit. Cause I'm the center of attention. The influnce to end all influence. The more you ignore me the bigger a bonus I pays myself. My self esteem is so huge I has to share it with other people cause it's too abundant and shit.
GSacs doesn't need company, they are doing God's work, they can work alone.
Dogs are social, are squids?