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JPY Buying Ushers Selling The News

Tyler Durden's picture




 

As we predicted yesterday, the knee jerk bounce in the second Greek bailout was already largely priced in. And now: heeeeeere's selling the news, led by a USDJPY carry unwind first, and soon spreading to other risk metrics.

USDJPY:

RISK-ES, where ES is curiously overtaking the RISK basket to the downside.

 

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Wed, 06/29/2011 - 09:20 | 1411432 Cdad
Cdad's picture

Also in oil...-$1 per barrel in a NY minute.  

Wed, 06/29/2011 - 09:18 | 1411446 SheepDog-One
SheepDog-One's picture

And its all meaningless, we're still broke, and in the greatest depression. Enjoy licking these few Sterno cans when they show up, drunken bull marketeers!

Wed, 06/29/2011 - 09:25 | 1411462 Cdad
Cdad's picture

Agreed...nanosecond equity and debt pricing is meaningless...save for those co located in the room next to where Duncan Niederauer takes his afternoon constitutional...which is why Average Joe's capital continues to be "on the sidelines" or other wise being used to buy food at Costco.

The absolute perversion of the "market" is on full display.  Thank you for this wasteland, Ben Bernanke and Brian Sack.

 

Wed, 06/29/2011 - 09:29 | 1411490 Caviar Emptor
Caviar Emptor's picture

Right, bro. The "austerity" package contains only empty promises that were aimed at keeping up appearances. THere's no will to be "austere" in a Bailout World. And bankers asking unemployed Greeks to be austere is untenable

Wed, 06/29/2011 - 09:22 | 1411475 citrine
citrine's picture

What was the reason for that drop?

Wed, 06/29/2011 - 09:30 | 1411493 Cdad
Cdad's picture

The logical exhaustion of yesterday's mentally retarded snap back rally.  Or...algorithms.  

Rather than asking obvious questions, you should be using your time to tune in your pulse rifle, as Skynet is obviously self-aware.

Does anyone know where the terminator manufacturing facility is located?

Wed, 06/29/2011 - 09:51 | 1411573 SheepDog-One
SheepDog-One's picture

What was the reason for DOW last week going from 11,800 to 12,200? What is the reasoning for the DOW to be anywhere over 8,000? Nothing.

Wed, 06/29/2011 - 09:21 | 1411437 qussl3
qussl3's picture

I love the yen, after all the BS it takes from everyone, its hard to argue with a currency whose participants accept it without question and produce far more than they consume.

 

Wed, 06/29/2011 - 09:22 | 1411443 6 String
6 String's picture

spreading to other risk metrics.

Doubt it. The R2K will ramp into the close and end the quarter far higher than it is right now. Good luck to "risk metrics" not bouncing.  BTFD.

Wed, 06/29/2011 - 09:19 | 1411456 SheepDog-One
SheepDog-One's picture

Nope. After the dust settles from this Greece nonsense, US goes down hard, much to the 'all is well DOW 36,000' crowds total surprise. 

YouTube - 'US going down next after Greece'

Wed, 06/29/2011 - 09:27 | 1411478 Greeny
Greeny's picture

You are joking, right?

US is much stable then any Country out there.

US can take another 14 trillion in Debt

without any circumstances, if need it.

Wed, 06/29/2011 - 09:29 | 1411507 doggings
doggings's picture

why not make it another 144 trillion just to really make sure.

 

Wed, 06/29/2011 - 09:57 | 1411581 SheepDog-One
SheepDog-One's picture

'USA much more stable' yea in a depression and $600 trillion in debt, probably can double that and be near reality. You live in a fantasy world of typical soft sheeple spectator americans, and youre about to go down hard.

Wed, 06/29/2011 - 10:06 | 1411613 tmosley
tmosley's picture

Yeah, because Americans are able to support $90,000 in debt per capita, in addition to their own.

Christ, what a moron.

Wed, 06/29/2011 - 09:24 | 1411485 6 String
6 String's picture

Yeah, I'm gonnn listen to a guy that said buy silver at 44 and crash JP Morgan. What a fucking joke to think silver could crash JP Morgan. You'd have to think 2 + 2 = 20 to believe that utter non-sense. 

The USA goes down hard. LOL. Not a fucking chance. Bridgw loans to states, budget cuts, low interest rates, low p/e's, global companies selling at 7x earnings....what is not to like for christ sakes. We will stomp on the terra.

Wed, 06/29/2011 - 09:26 | 1411492 Arius
Arius's picture

how can 2+2 = 20 ?  i dont get that...sorry...

Wed, 06/29/2011 - 10:07 | 1411617 d00daa
d00daa's picture

Another worthless shit talker that doesn't disclose his positions.  C'mon, tough guy.  All-in R2K???

Wed, 06/29/2011 - 10:07 | 1411630 6 String
6 String's picture

Dude, you clearly don't understand total sarcasism. I'm starting to believe the level of intelligence around here is very very low.

Wed, 06/29/2011 - 10:14 | 1411668 d00daa
d00daa's picture

Dude, pretending to spell 'sarcasm' correctly and bitching about the intelligence level of others is laughable at best.  RobotTrader you are not.

Wed, 06/29/2011 - 10:17 | 1411659 SheepDog-One
SheepDog-One's picture

'Bridge loans from someone forever'! Yea so worthless spoiled lazy americans can have their comfy retirement at The Villages, bunch of sheeple.

Wed, 06/29/2011 - 09:19 | 1411454 TruthInSunshine
TruthInSunshine's picture

Kleptojizm.

All those thinking there's a fraction of an ounce of free markets that remain in the Greatest PonziMatrix ever scream:

My eyes! My eyes!

Kapitaljizm under Central Bankster rule burns!

Wed, 06/29/2011 - 09:19 | 1411455 Greeny
Greeny's picture

First reaction not always the correct one,

have to wait and see few hours.. Sell the news hit first

and then?

Wed, 06/29/2011 - 09:29 | 1411488 Arius
Arius's picture

then you buy ... but who is guarantee the bargains are still going to be there if you wait ... me i jump first and then see what happens but thats me ...

Wed, 06/29/2011 - 09:24 | 1411457 hugovanderbubble
hugovanderbubble's picture

Greeks THIS IS SPARTA¡ Burn the PArlamient¡

Your politicians dont represent low-middle classes¡

 

STATE OF SIEGE coming in Greece.

Wed, 06/29/2011 - 09:24 | 1411484 SheepDog-One
SheepDog-One's picture

I hope they do drag every politician out, string them up, and burn the place down...but thats the least of our worries in far-worse USA.

People actually expect me to believe any of this is good news? Try it on someone else. We're in a depression, papered over with rice paper...the beast is about to be unleashed.

YouTube - 'US going down next after Greece'

Wed, 06/29/2011 - 09:20 | 1411458 Re-Discovery
Re-Discovery's picture

It's all Greek to me.

 

Wed, 06/29/2011 - 09:22 | 1411472 spartan117
spartan117's picture

Then why are stocks up pre-market?

Wed, 06/29/2011 - 09:24 | 1411487 Greeny
Greeny's picture

Why? Are you burning short? Keep shorting.

Wed, 06/29/2011 - 10:02 | 1411599 spartan117
spartan117's picture

I would never short so long as the Federal Reserve exists. 

Wed, 06/29/2011 - 10:12 | 1411648 TruthInSunshine
TruthInSunshine's picture

Famous last words heard by the eviscerated, circa 1987, circa-1999, circa 2002, circa-2007, circa-so many times since 1913 that it's easy to lose count.

Wed, 06/29/2011 - 12:10 | 1412176 spartan117
spartan117's picture

Looks like someone got caught short today, eh?

Wed, 06/29/2011 - 09:27 | 1411477 monopoly
monopoly's picture

Good day not to trade. This solves absolutely nothing.

Wed, 06/29/2011 - 09:31 | 1411495 SheepDog-One
SheepDog-One's picture

Its all simply BS. Theyve done such a good job 'externalizing' all problems that americans now sit spoiled stupid, thinking nothing ever touches us when in fact we're far worse off than Greeces little trivial $100 billion problem.

 

Wed, 06/29/2011 - 09:35 | 1411525 6 String
6 String's picture

Ever heard of War? The USA clearly has a fiscal problem but it can cleary be solved with power grabs and even clearer is that is the choice we are making. I wouldn't want to be sitting anywhere east of the Atlantic.

Wed, 06/29/2011 - 09:50 | 1411561 SheepDog-One
SheepDog-One's picture

Yea right, its always just fine in america, and if theres a pinch, just go to war and kill people. YOU go! Lets see you put your money where your big fat mouth is and grab a rifle and head to the front line douchebag!

Wed, 06/29/2011 - 10:05 | 1411622 6 String
6 String's picture

You're a little touchy this morning Sheepy. I'm just callin' it the way I see it. I pledge no alligiance to any entity. 

Wed, 06/29/2011 - 10:15 | 1411669 SheepDog-One
SheepDog-One's picture

Go pick up a rifle and head to the front lines, bigmouth! THATS the way I see it!

The way you see it is skewed because of your 'normalcy bias' sheep eyes! 

Wed, 06/29/2011 - 09:23 | 1411480 spongeBOB
spongeBOB's picture

50+ pts in the \ES in 3 days in anticipation of this news. Smart money will be out before the W/E.

Wed, 06/29/2011 - 09:28 | 1411486 monopoly
monopoly's picture

Notice how they are selling down now. Sell the news.

Wed, 06/29/2011 - 09:27 | 1411494 RobotTrader
RobotTrader's picture

And gold and silver are also joined at the hip with ES futures and EUR/USD, getting thrown out with everything else.

"But Jim, I thought Alf and Armstrong said......"

Heh, gold bugs better start cheering for Dow 15,000

Wed, 06/29/2011 - 09:32 | 1411497 SheepDog-One
SheepDog-One's picture

GOOD, little piss ant! Let me buy more lower, fine with me I totaly welcome the opportunity! Nothings changed dickhead!

Wed, 06/29/2011 - 09:36 | 1411516 spongeBOB
spongeBOB's picture

Red by 10:30.

Wed, 06/29/2011 - 09:42 | 1411532 Greeny
Greeny's picture

And? 2 days of 100+ move, Markets can rest a bit.

VIX dropped dead.

Wed, 06/29/2011 - 09:48 | 1411553 SheepDog-One
SheepDog-One's picture

12,100 average for the DOW going back 7 months Greeny! Your big market upside has already been seen at 12,800.

Wed, 06/29/2011 - 10:15 | 1411671 TruthInSunshine
TruthInSunshine's picture

Greeny is fine. He's been long and strong for 12 years, losing 35% of his money in real terms, being flat in nominal terms, and if one were to include all his holding that went to zero (delisted, BK, 'insolvent for other reasonsTM'), he's only down 50% or so.

The beauty of the constantly re-jiggered equity "indexes," where survivorship bias is kept in that dark, corner closet by the sell-siders.

Wed, 06/29/2011 - 10:04 | 1411619 spongeBOB
spongeBOB's picture

My point is if you are expecting a huge rally today then you are in for a surprise. There is NO GOOD reason why the DOW ran up 200+ points in 2 days other than this no news news. Bank stocks are up because BAC is coughing up $8.5B ?

Wed, 06/29/2011 - 09:33 | 1411518 6 String
6 String's picture

You bet, Robo. You haven't heard too much around these neck of the woods about silver completely decoupling from stocks lately=down. Stocks up, silver down. Stocks down, silver down. It will retest support at 29 soon. Buy the R2K; it's the only way to go.

Wed, 06/29/2011 - 09:47 | 1411564 SheepDog-One
SheepDog-One's picture

What, youre saying people buy PM's because theyre coupled to stocks? Idiot.

Wed, 06/29/2011 - 10:07 | 1411616 6 String
6 String's picture

What I am saying is when silver is going up and stocks down the shills around here, like you, will proclaim that the ponzi is over--see?, when in fact it reverses you go silent. So I get it, people like you are poor sports that were abused in grade school by the bullies, right?

Wed, 06/29/2011 - 10:19 | 1411680 SheepDog-One
SheepDog-One's picture

I myself never said gold and silver have ANYTHING to do with phony stock paper! Little punkass bigmouth talking about how its all good, we can just go to war, go put on a uniform, pick up a rifle and YOU head to the front lines! Put your money where your big fat mouth is!

Wed, 06/29/2011 - 09:33 | 1411505 Caviar Emptor
Caviar Emptor's picture

You guys don't get it: the stock market is just a proxy for the health of the TBTF banks. And they run on bailouts. If Greece weren't bailed out then the banks would be in trouble. 

America runs on bailouts

Wed, 06/29/2011 - 09:30 | 1411511 SheepDog-One
SheepDog-One's picture

Greece votes on their little microscopic $100 billion problem, and $600 trillion debt USA parties? Simply retarded.

Wed, 06/29/2011 - 09:31 | 1411514 Caviar Emptor
Caviar Emptor's picture

Today's ractions: 

-Rioting in Athens

-Rioting in Cairo

-General Strike in UK

-Protests in Spain

Wed, 06/29/2011 - 09:52 | 1411577 scatterbrains
scatterbrains's picture

my spidey senses tell me someone's going to get assassinated somewhere very soon.

Wed, 06/29/2011 - 09:36 | 1411528 Oh regional Indian
Oh regional Indian's picture

Wow, the whole spectrum of comments in the first 21. Oil, metals, stocks, forex..

What is going up? USD? If true, this might be that final, powerless, pulling at the joystick pull out of a nosedive week or so. 

Certainly feels like it.

Everything is nuts, Los Alamos Burning, New Madrid Flooding, Fukushima Leaking, leaking....

ORI

http://aadivaahan.wordpress.com/2011/06/28/thoughts-and-a-heads-up/

Wed, 06/29/2011 - 09:45 | 1411545 Greeny
Greeny's picture

"Oil, metals, stocks, forex..

What is going up? USD? "

==================

I think you are blind, dude, everything above going up

since 2 days ago, Markets up more than 200 points, OIL up

4-5$, EUR up 150 pips and so far Silver/Gold is up too..

So, WTF you are bragging about?

Wed, 06/29/2011 - 09:55 | 1411585 scatterbrains
scatterbrains's picture

greenie are you long with leverage right now ? Please tell me you are.

Wed, 06/29/2011 - 10:01 | 1411608 d00daa
d00daa's picture

He's praying.  He's a fucking moron.  Goddamn indicies bouncing INTO their 50DMA and this clown is all-in long.

Wed, 06/29/2011 - 10:16 | 1411672 Greeny
Greeny's picture

Yeah, idiot, I don't care about 50 DMA or other shit,

I don't trade day to day, I'm a swing trader, could hold

for month if need it. Of course I'm long with some protection,

which is useless at this point. I'm collecting my 7-15% Dividends,

while you, stupid bums, scrambling for physical, which I also

have and probably more than any of you..

Wed, 06/29/2011 - 10:30 | 1411714 d00daa
d00daa's picture

You do realize that "swing traders" use the 50DMA and "other shit" technical indicators to assist in determining "swings" in the market, right?

Of course you don't, you're a fucking moron.

 

Wed, 06/29/2011 - 09:53 | 1411569 SheepDog-One
SheepDog-One's picture

Judging from many of the comments, no way do I believe americans have the balls for whats coming next here. Simply a bunch of soft spectators.

Wed, 06/29/2011 - 10:13 | 1411663 6 String
6 String's picture

Sheepy, you do get it. It's not the politicians, it's not the Federal Reserve...it's a nation addicited wimps, to prosac no less, that can't handle free markets and cyclical economies.

Wed, 06/29/2011 - 10:24 | 1411684 SheepDog-One
SheepDog-One's picture

Put on a uniform, pick up a rifle, and head to the front lines loudmouth!

Wed, 06/29/2011 - 10:22 | 1411689 6 String
6 String's picture

bring it, pussy. I'll take you down first. 

Wed, 06/29/2011 - 10:25 | 1411686 6 String
6 String's picture

....And for all those that scorned me, the Russell 2k is now ramping higher. 

Wed, 06/29/2011 - 10:23 | 1411693 Greeny
Greeny's picture

Did I say too early to say? Look USDJPY now already half of the

drop

been pared, EURUSD backing up too. Watch and learn.

Wed, 06/29/2011 - 10:28 | 1411695 6 String
6 String's picture

BTFD. 

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