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A Look At No POMO Friday As Saudi, Yemen, Kuwait And Bahrain Brace For Protests

Tyler Durden's picture


Newsflow tomorrow is going to be heavy as Saudi, Yemen, Kuwait and Bahrain all prepare for protests. And if today's actions are any harbinger of what to expect, there will be serious unrest, quite possible turning violent even lethal. The wildcard still continues to be Iran, also a hotbed of recent protest, which has so far not made much noise about the crackdown on Shi'ites in the wealthy Saudi kingdom. Reuters summarizes what to look forward to: " Arab uprisings that have spread to the conservative Gulf region face a crucial test this week in Saudi Arabia where activists have made unprecedented calls for mass protests against the kingdom's absolute monarchy. Protests are planned in other Gulf countries such as Yemen, Kuwait and Bahrain on Friday, the region's weekend. The time after Friday prayers has proved to be crucial in popular uprisings that have brought down Tunisian and Egyptian rulers who once seemed invulnerable. More than 32,000 people have backed a Facebook call to hold two demonstrations in the country, the first of them on Friday. Saudi police dispersed a protest by a Shi'ite minority in the OPEC member's oil-producing Eastern province near Bahrain on Thursday with one to four people wounded as shots were heard, witnesses said." Furthermore, as we disclosed earlier, the Fed may have made a major error by not conducting a market stabilizing POMO tomorrow - arguably the day it will be needed more than ever. Those so inclined are urged to put on some fat tails insurance ahead of tomrrow's events which will most certainly result in some very violent swings in either direction.

From Reuters:

 "What the regime is worried about is setting a precedent for protests, that when people have problems they're going to feel more comfortable and more willing to take to the streets," said Shadi Hamid, an analyst with the Brookings Institute in Qatar.

Washington -- which has buttressed the Gulf dynasties as a counterbalance to Iran -- raised the stakes in comments this week calling peaceful assembly a universal right that must be respected even in a country that claims unique status as an Islamic state like Saudi Arabia.

Foreign Minister Prince Saud al-Faisal slammed "foreign intervention" in a news conference on Wednesday that seemed to highlight the problems facing a family that monopolises political life in a country named after them.

"The called-for reform does not come via protests and (the clerics) have forbidden protests since they violate the Koran and the way of the Prophet," said Prince Saud, who has occupied the foreign minister portfolio since 1975.

And while the Saudi regime still has the funds to continue attempting to bribe its population into loving it, other countries are less fortunate:

The protest movements hit populous Yemen a month ago and spread to the Gulf states where dynasties who secured their rule in colonial times and have bought their people's acquiescence by dispensing petrodollars.

Bahrain has been the most vulnerable. Majority Shi'ites who resent domination by the al-Khalifa dynasty have staged pro-democracy protests and analysts say Saudi pressure has been heavy on Manama to stamp them out.

This week hardline Shi'ite groups formed an alliance to ditch the monarchy and turn Bahrain -- an island state whose rulers look to Riyadh for support -- into a republic. They are planning a march on the royal palace on Friday.

Yemen is also set for an escalation after opposition groups, who have held pro-democracy marches for the past month, rejected veteran ruler Ali Abdullah Saleh's offer of reforms on Thursday.

A small number of Kuwaitis held protests this week, while activists and intellectuals in the United Arab Emirates petitioned the rulers for democratic elections. Last week Omanis clashed with police over jobs and corruption in government.

Several Gulf rulers seem to hope more money will solve their problems.

Saudi King Abdullah has vowed to distribute some $37 billion in handouts to students, the unemployed and other low-income Saudis via a series of pay bonuses and benefits announced as he returned in February after a three-month absence for medical treatment.

Gulf Arab oil producers launched a $20 billion aid package on Thursday for poorer Gulf countries Bahrain and Oman.

"For most of us, it's not about money, it's about having a share in our government," said Mohammed al-Mansoori, a rights activist in the United Arab Emirates. "In other places people have dignity, here, people don't."

As we have said previously, the market will be far more surprised by events out of Europe before this month is over, as that is where the real time bomb continues to tick.

We will follow tomorrow's events early so grab your popcorn.


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Thu, 03/10/2011 - 16:48 | 1037848 DoChenRollingBearing
DoChenRollingBearing's picture

Tomorrow is going to be a great day!

Thu, 03/10/2011 - 16:57 | 1037882 duncecap rack
duncecap rack's picture

You are a gold guy. Do you have any ideas why gold and silver didn't catch a haven bid today?

Thu, 03/10/2011 - 17:00 | 1037893 tmosley
tmosley's picture

Nothing moves in a straight line.  There will always be corrections as gold and silver climb the wall of worry.

Don't let the dunces and delivery drivers get you down.  This is nothing but healthy consolidation.

Thu, 03/10/2011 - 17:15 | 1037950 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Holler, King Dollar!

Thu, 03/10/2011 - 17:24 | 1037983 william the bastard
william the bastard's picture

Can't buy the dip until you end the slip

Thu, 03/10/2011 - 17:31 | 1038008 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I don't know what that means.

Thu, 03/10/2011 - 17:33 | 1038020 william the bastard
william the bastard's picture

Why am I not surprised?

Thu, 03/10/2011 - 17:34 | 1038025 tmosley
tmosley's picture

You have to be able to think to be surprised.

Thu, 03/10/2011 - 17:55 | 1038089 depression
depression's picture

holla for da dolla

US dollar and 10 year treasury have bottomed, everything else has topped, copper called this inflection point early but everyone said "this time it's different"

silver paper (SLV) bugs man the lifeboats

Thu, 03/10/2011 - 21:14 | 1038944 Confuchius
Confuchius's picture


Remember, the paper "crimex" prices are for paper. Not metal. Real Gold / Silver costs more. Not only costs you more paper fiat to acquire, it does not change much day to day.

Thu, 03/10/2011 - 17:00 | 1037897 DoChenRollingBearing
DoChenRollingBearing's picture

Turd Ferguson would be the guy to ask.  I too would have thought gold would have gone up.

But, it is important to understand that I do not trade gold.  I buy and hold it.  I am in FOFOA's camp:

Thu, 03/10/2011 - 17:10 | 1037942 sheeple
sheeple's picture


Thu, 03/10/2011 - 17:24 | 1037967 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I wanted to test support this week, thought that since last weekend, and I have support at $1407.  This is just the way it goes, gotta wind it up to let it go, technical stuff.  SLW isand has been on the 30 week moving average since June/July of '09.  When SLW breaks out then it also pulls back sharply because playing both sides of the elasticity generates the largest amount of gain. 

JPM shorts, they hit, then China buys.  Then JPM shorts, China buys.  On and on.  All the while Bernanke gets to run the world, or, Obama, whoever.

Thu, 03/10/2011 - 17:24 | 1037979 william the bastard
william the bastard's picture

"On and on.."

Yeah, until it ends.

Thu, 03/10/2011 - 17:30 | 1037999 Mr Lennon Hendrix
Mr Lennon Hendrix's picture


Thu, 03/10/2011 - 19:48 | 1038685 Pegasus Muse
Pegasus Muse's picture

Picked up a couple hundred 1oz Ag rounds today -- cheap.  Under $35.  Never thought I'd see that price again.

SLW:  increased my position on the 7% off sale

AG (First Majestic):  12% off; had to buy more

I'll be grinning about my winnings in a couple innings.  Think of how cheap 35 will seem when its sitting at 50.

Thu, 03/10/2011 - 22:21 | 1039151 Vanderdekken
Vanderdekken's picture

Hmmm.... and i thought it was cheap when i bought it at $13/oz. Wish i had more fiat dollars to play around with; When's bernanke going to rain money out of the helicopters?

Thu, 03/10/2011 - 17:07 | 1037932 Tulli
Tulli's picture


  Gold and silver are usually the last ones off the dance floor when the music is readu to stop. One reason for this is that when faced with margin calls traders sell the metals last. The trading today in gold and silver suggests that margin liquidation is taking place. When that happens, everything goes out the window.


This is great for accumulators, so BTFD in gold and silver when you get a nice setup.

Thu, 03/10/2011 - 18:02 | 1038110 depression
depression's picture

Physical metal will not sell off much if at all. The paper markets will fluctuate in response to the COMEX/JPM games being played but physical prices and global physical demand will hold steady or just ignore the paper market and continue to rise unabated. At some point soon physical delivery demand will overwhelm COMEX.

Thu, 03/10/2011 - 17:21 | 1037969 william the bastard
william the bastard's picture

Because the Fed inflate-a-bubble has failed again and rates will be rising as global economic growth collpases.

Rising rates have killed every gold rally since the rule of Valentinian III

Thu, 03/10/2011 - 17:29 | 1037996 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Rates can't rise the interest on the debt would crush income.  Right now 1/3 US debt pays for the "right" to use the dollar as a domestic currencie. Raise the rate marginaly and that goes to half.  The US would be forced to cut its military budget.  Ain't no way that is happening. 

Thu, 03/10/2011 - 17:30 | 1038007 william the bastard
william the bastard's picture

Not only are you betting on it you're getting lousy odds!

Thu, 03/10/2011 - 17:34 | 1038021 gwar5
gwar5's picture

Half of PM move the down is the result of relative strenthening in the USD (kitco)

Thu, 03/10/2011 - 23:42 | 1039362 StychoKiller
StychoKiller's picture

People sold stock(s) and bought FRNs.  When the $ goes up, Gold & Silver go down (usually!)

Thu, 03/10/2011 - 17:09 | 1037937 NewThor
NewThor's picture

Who needs POMO when you got the ninja's of the PPT?

Ben Bernanke will make sure the Dow Jones closes today over 12,000.

He's real big on psychological barriers. Anti-christs are funny like that.




Thu, 03/10/2011 - 18:38 | 1038303 r101958
r101958's picture

Exactly!....and they will be out in force tomorrow.

Thu, 03/10/2011 - 23:45 | 1039368 StychoKiller
StychoKiller's picture

Dow closed at 11,984.61, on your planet perhaps it's still above 12,000. :>D

Thu, 03/10/2011 - 17:13 | 1037945 sheeple
sheeple's picture

not sure bud, looks like a set up for commodity sell off tomorrow

Thu, 03/10/2011 - 21:20 | 1038966 Confuchius
Confuchius's picture


Keep in mind: Ag & Au are money, not "commodities".

Thu, 03/10/2011 - 16:49 | 1037852 Motorhead
Motorhead's picture

Even Halliburton is down today.  What is this world coming to?

Thu, 03/10/2011 - 16:52 | 1037860 Cash_is_Trash
Cash_is_Trash's picture

To the end of fiat, my friend.

Thu, 03/10/2011 - 17:04 | 1037920 fredquimby
fredquimby's picture

FOA 10/09/2001

"In other words, the current price of gold means that you are buying a slice of the world’s gold supply with a proportionately smaller slice of the world’s money. You can currently buy x% of the world’s gold with y% of the world’s money, where x is much bigger than y. When gold will become the unit of account of the world’s wealth, you will find yourself able to claim a much bigger slice of that wealth than you would have been able to do with fiat money before the collapse."

Thu, 03/10/2011 - 16:50 | 1037854 Jeremy Roenick
Jeremy Roenick's picture

As they used to say in the '80's...

It's on like Donkey Kong...

Thu, 03/10/2011 - 16:50 | 1037855 Jeremy Roenick
Jeremy Roenick's picture

As they used to say in the '80's...

It's on like Donkey Kong...

Thu, 03/10/2011 - 16:53 | 1037858 Johnny Lawrence
Johnny Lawrence's picture

And the struggle into the close to stay above 12k and the 50-day on the S&P

Thu, 03/10/2011 - 16:53 | 1037864 JimRogers
JimRogers's picture

You don't think they'll toss 7 billion down the POMO-hole just cuz its not on some schedule?

POMO erreday!





Thu, 03/10/2011 - 16:53 | 1037865 dick cheneys ghost
dick cheneys ghost's picture

sexual prey in the saudi jungle.........a look into saudi society



Thu, 03/10/2011 - 16:55 | 1037871 youngman
youngman's picture

What has me befuddled today is the rush to Treasuries..."security"...but gold and silver are me a better security...WTF

Thu, 03/10/2011 - 17:01 | 1037900 tickhound
tickhound's picture

It's called the "zombie effect"

Thu, 03/10/2011 - 17:08 | 1037934 Translational Lift
Translational Lift's picture

The people that buy stocks and bonds don't know there's gold and silver out there.

Thu, 03/10/2011 - 16:56 | 1037876 GOSPLAN HERO
GOSPLAN HERO's picture

Silver, my homies.

Thu, 03/10/2011 - 17:03 | 1037877 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

I'm going to create a robotic army of protesters and they will look like this:

When they are not protesting in my chosen locations they will be trading in the pits of the CBOT.

"emotional affordances in human robot interaction". It's coming to a town near you.

[Skin on / Skin off]

Thu, 03/10/2011 - 16:57 | 1037878 Dr. Porkchop
Dr. Porkchop's picture

Dow 6000

Thu, 03/10/2011 - 17:02 | 1037909 DoChenRollingBearing
DoChenRollingBearing's picture

JUST closed below 12000.  Only 50% more to go!

Thu, 03/10/2011 - 18:44 | 1038353 malikai
malikai's picture

Dow 600

Thu, 03/10/2011 - 16:56 | 1037879 Armando Javier ...
Armando Javier Finkeltein of the Boise Finkelsteins's picture

"Hey Abdul, what are you going to do?  What do you say after prayers tomorrow we loot,riot and grab ass blonde bimbo reporters?" " Sounds good to me."

"What about me?", shouts Mohammed Bruce.  "Anbody seen Anderson Cooper?"





Thu, 03/10/2011 - 17:10 | 1037939 wisefool
wisefool's picture

Arabs are fierce people but not easily fooled. If a bernank showed up with a chart that said 32/47 virgins was enough, we can give you a ukrainian nurse and an F-14.

Thu, 03/10/2011 - 17:28 | 1037991 zaknick
zaknick's picture

Anderson Cooper (a Vanderbilt I understand) is a little biatch who got biatch slapped in Tahrir square and went home crying to mommy.

Biatch slapped!

Thu, 03/10/2011 - 17:39 | 1038042 wisefool
wisefool's picture

yucky stuff to hitch your wagon to post modern perfume. I got "honey badger" and the american counter part on my shoes and arabian carpet right now. But the chickens are safe from kadaffie.

- PePe le France me something.

Thu, 03/10/2011 - 16:58 | 1037886 sulfur
sulfur's picture

Sell the fucking shit

Thu, 03/10/2011 - 17:00 | 1037892 simon says
simon says's picture

POMO for equities - no support needed for Treasuries today.   Bill Gross probably avoiding social contact for now ...

Thu, 03/10/2011 - 16:59 | 1037895 vas deferens
vas deferens's picture

More QE coming, Saudi on fire soon, Libya on fire now, riots coming to a city near you.  Oil should be $15 a gallon soon.

Thu, 03/10/2011 - 17:00 | 1037896 Johnny Lawrence
Johnny Lawrence's picture

And we close below the 50-day on the SPX, Dow, Nasdaq?

Thu, 03/10/2011 - 17:02 | 1037908 primefool
primefool's picture

I can only speculate that the market seems to be more worried about a SPR release than the geopolitics - based on all the oil stocks geting hammered even more than the broad market.

Given the large inventories in the US, one has to wonder what exactly an SPR release will accomplish? On the other hand the geopolitical risks will have a much larger medium term impact on supply - posibly , and the SPR is hardly the solution to this.

It seems the stock market jockeys have it wrong.

Thu, 03/10/2011 - 17:03 | 1037911 Weimar Ben Bernanke
Weimar Ben Bernanke's picture

 The House of Saud will not back down easily. They will kill as many as they can to maintain control. If the army turns against them then they have the Saudi Arabian National Guard to back them up. Tommrrow will be very interesting to see if the Saudi protest have legs. If no one shows up then it is a failure. If Yemen falls then it would fragment into a warlord state. The Bahraini shiites want the regime gone and if the regime falls the House of Mud will step in. The next few week will interesting. If the House of Mud falls it will be a blow to the US and its control in the mideast.

Thu, 03/10/2011 - 17:32 | 1038011 Dr. Porkchop
Dr. Porkchop's picture

That's how business was done in the middle ages. We'll give you a pile of gold and some land if you go slaughter these poor bastards over there.

Thu, 03/10/2011 - 18:46 | 1038370 malikai
malikai's picture

Apparently we have not evolved much since then.

Thu, 03/10/2011 - 17:04 | 1037913 financeguru500
financeguru500's picture

Anyone know why the media hasn't really given a reason on why the protests are happening in the first place?

I mean they are happy to talk about the protests all day long but they have never said solid reasons WHY the people in some of these countries are protesting.

Thu, 03/10/2011 - 17:06 | 1037922 drink or die
drink or die's picture

They parrot the "people want democracy" line everytime it's mentioned on the news.

Thu, 03/10/2011 - 17:32 | 1038015 Dr. Porkchop
Dr. Porkchop's picture

I am confuse.. didn't the media just spend the last ten years telling us that the brown people hate our freedoms?

Thu, 03/10/2011 - 18:31 | 1038263 TonyV
TonyV's picture

Actually, it was W who said that.

Thu, 03/10/2011 - 17:19 | 1037958 fredquimby
fredquimby's picture

'tis true. The above is one of the only solid published quotes of a reason I've seen in the media so far!!

"For most of us, it's not about money, it's about having a share in government"



Thu, 03/10/2011 - 18:08 | 1038150 KinorSensase
KinorSensase's picture

Ha.  financegurur500, don't you know Trix are for Kids!  If the media tried to explain why the protests are happening it would eventually lead to their overlord masters on WallStreet.  It's their duty to protect their masters using disinformation, hence their present role.

I went to a discussion of MENA events at my college a couple weeks ago.  Academic "professionals" lined the panel.  What a circle jerk.  They didn't even mention rising food/fuel prices, inflation or inequality.  I lifted the arguement from Keiser, just to gauge where our Academics were in their awareness of reality.  They haven't checked in yet.  In fact, they laughed at me when I mentioned these issues.  You don't want to know what their responses were.  America is the land of willful, paid-for ignorance, my man.   Don't expect integrity from any of our media institutions.

Thu, 03/10/2011 - 21:38 | 1039034 Sokhmate
Sokhmate's picture

Because the reason is obvious: it's the facebook/Twitter revolutions. You must not be a worshipper of those social mania to not know. Tsk tsk.

Also absent from the media coverage, is that color revolutions are so .. passe.

Thu, 03/10/2011 - 17:05 | 1037916 drink or die
drink or die's picture

Plenty of liquor stocked up to watch the world burn.

Thu, 03/10/2011 - 17:24 | 1037978 DoChenRollingBearing
DoChenRollingBearing's picture

Yes, an important part of any preparer's list would be liquor.

Life would be harder for me to bear without my new favorite:

"Death After Midnight"  (modeled after Hemingway's Death in the Afternoon)

20% Absinthe / 80% berry flavored Vodka

Straight out of the freezer!

Thu, 03/10/2011 - 17:27 | 1037995 william the bastard
william the bastard's picture

+1. I knew you were nuts. Don't forget the 8 ball I don't mean the olde english kind.

Thu, 03/10/2011 - 17:38 | 1038034 Dr. Porkchop
Dr. Porkchop's picture

You have to think about your demographics too. You need supplies.


Bathtub Gin for the common man, the good stuff for high end clients.

Thu, 03/10/2011 - 18:40 | 1038321 snowball777
snowball777's picture

Wouldn't it be easier to just set up a still?

Thu, 03/10/2011 - 17:05 | 1037921 Sutton
Sutton's picture

No POMO tomorrow.

The PPT will man the machines .

Thu, 03/10/2011 - 17:06 | 1037923 Cdad
Cdad's picture

From the Ministry of Truth [CNBC], add Brian Stutland, options junkie, to the list of total hacks putting out misinformation for the sake of trying to preserve his bullshit long call positions.

Just made comments about the VIX, relative price comments that reveal totally disingenuous disposition towards listeners of the Ministry of Truth.

This time of turmoil is doing a great job of revealing just how bad the situation is at The Ministry of Truth [CNBC]...whose parent, Comcast, is now clearly a short sale candidate for not doing thing one about the rampant propaganda pumping through the airways there.

Buy VXX.  Just look at a 90 day chart of VXX against the VIX.  Months of manipulation coming to an end there...and of course, Brian Stutland fuckwad knows this.

We break tomorrow...

Thu, 03/10/2011 - 17:51 | 1038075 ml8ml8
ml8ml8's picture

Try looking at a 2 year chart of VXX.  It must be getting killed on the forward roll, and a dime will get you a dollar that every trader in the VIX pit knows when VXX is rolling forward and trades in front of them, just like USO.  Wouldn't hold that shit for more than 2 days and you'd better know when the monthly roll is and not hold it within two days either side of that.

Thu, 03/10/2011 - 17:06 | 1037927 GOSPLAN HERO
GOSPLAN HERO's picture

Socialists must explain to the masses that they have no other road of salvation except the revolutionary overthrow of “their” governments, and that advantage must be taken of these governments’ embarrassments in the present war precisely for this purpose.  -- Lenin, Socialism and War (1915)

Thu, 03/10/2011 - 17:24 | 1037974 gwar5
gwar5's picture

They're damn good at scapegoating and revolutions. Nothing else. 

Solzhenitsyn: "The worst part of communism is being force to live a lie."

Thu, 03/10/2011 - 17:07 | 1037929 malikai
malikai's picture

The following are prayer times for tomorrow, GMT corrected.

04:58, 06:29, 12:11, 15:59, 17:53, 19:26


Thu, 03/10/2011 - 17:10 | 1037941 drink or die
drink or die's picture

Thanks!  I was looking for this.

Thu, 03/10/2011 - 17:32 | 1038016 william the bastard
william the bastard's picture

Now you know why that guy was yodeling all day. It's for illiterates that can't tell time.

Thu, 03/10/2011 - 17:38 | 1038040 Dr. Porkchop
Dr. Porkchop's picture

This Allah is a demanding fucker.

Thu, 03/10/2011 - 18:54 | 1038425 malikai
malikai's picture

Correction: The times I gave were for today. The correct times are:

04:56, 06:26, 12:11, 16:01, 17:55, 19:28

Thu, 03/10/2011 - 17:09 | 1037938 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

The Saudi police used rubber bullets... all is well. Go back to bed America, your government is in control. 

Thu, 03/10/2011 - 20:03 | 1038726 bugs_
bugs_'s picture

were they American rubber bullets?  perhaps they might have been expired too like the tear gas the Egyptians used.

Thu, 03/10/2011 - 17:15 | 1037949 Rhone_Ranger
Rhone_Ranger's picture

Should be the event of the week.  I've got beer, nacho fixins and a cozzy spot on the couch lined up. 

Thu, 03/10/2011 - 17:15 | 1037951 The Axe
The Axe's picture

Gold and Silver should have caught a bid today. And the day of rage..must be priced in..unless it is really a day of fucking rage....So look for a quick and hard sell-off in PM on Friday...they just feel heavy//

Thu, 03/10/2011 - 17:17 | 1037952 The Axe
The Axe's picture

Gold and Silver should have caught a bid today. And the day of rage..must be priced in..unless it is really a day of fucking rage....So look for a quick and hard sell-off in PM on Friday...they just feel heavy//

Thu, 03/10/2011 - 17:18 | 1037957 fuu
fuu's picture

I was reading reports yesterday by Yemenese doctors talking about nerve gas damage to protestors Tuesday.

Thu, 03/10/2011 - 17:18 | 1037960 SWRichmond
SWRichmond's picture

"The called-for reform does not come via protests and (the clerics) have forbidden protests since they violate the Koran and the way of the Prophet," said Prince Saud, who has occupied the foreign minister portfolio since 1975

The people must go back to being sheep because the religionists say so.  Hint hint.

Thu, 03/10/2011 - 17:51 | 1038081 RichardP
RichardP's picture

Why pledge allegiance to the temporary when you can bind yourself to the eternal?  People have thought this way for forever.  And probably always will.  We have a gene for it.

Thu, 03/10/2011 - 17:23 | 1037971 Johnny B
Johnny B's picture

Sunnis vs. Shi'ites Bitches!

Thu, 03/10/2011 - 17:24 | 1037975 ShankyS
ShankyS's picture

Sorry for the spam -

Don’t forget the BTFD Tourney Challenge

Join the group - BTFD Tourney Challenge

Password shanky –


Get u a  bracket.

Thu, 03/10/2011 - 17:27 | 1037993 Man with no name
Man with no name's picture

Long VIX position, check.

Short Small Caps, check.

Popcorn, check.

All systems go. Queue "Day of Rage" on 3, 2, 1, roll.

Thu, 03/10/2011 - 17:34 | 1038024 AbandonShip
AbandonShip's picture

The way things are going, Bernocchio needs to schedule a POMO every Friday right after the prayer service ends in the middle east.

Thu, 03/10/2011 - 23:15 | 1039279 squexx
squexx's picture


Thu, 03/10/2011 - 17:54 | 1038068 GOSPLAN HERO
GOSPLAN HERO's picture

Any chicks worth dating on this site?  Must be 36D or larger.  Must like gold and silver coins scattered on the bed.


Thu, 03/10/2011 - 19:37 | 1038642 snowball777
snowball777's picture

I just had a nice image of you splayed out on the bed...handcuffed to same, snoozing soundly. Curiously, the coins weren't in it.

Thu, 03/10/2011 - 17:55 | 1038094 max2205
max2205's picture

Spy approaches -5% from highs. Ever think the Ben put is off to scare the crap out of our bought and paid for Congress?

Thu, 03/10/2011 - 18:06 | 1038142 ml8ml8
ml8ml8's picture

ES just peeked through it's 2/24 low by .25 points on the opening tick at 4:30, just to hold that technical door open for tomorrow.  That tick (and it was just one tick) eliminated the technical non-confirmation still in attendance at close between the DJI and Nasdaq Comp (which both took out the 2/24 low today) and the S&P 500/ES (which had not).  Next stop on our downward journey:  S&P 500 1,270 and DJIA 11,000.  Wouldn't surprise me if that occurs tomorrow, but not necessarily expecting that. 

Didn't really sense panic in equities this afternoon after the Saudi "shot heard round the world" news broke which was interesting.

And what was up with oil, just a lot of churn?  Just a big case of sell the news?

Thu, 03/10/2011 - 18:21 | 1038214 glenlloyd
glenlloyd's picture

Maybe they'll pull an emergency pomo out of the hat.

As another said, eventually more drugs kill the addict, and this is where we stand at the moment. Will more drugs come...certainly they will, but will it make the situation any, in fact it will really exacerbate the problem further.

Me thinks the addict has reached saturation.

Thu, 03/10/2011 - 18:53 | 1038414 Saxxon
Saxxon's picture

I hope they gap it down.  I will go long SPY for the first time in 7 months. 

No pomo, MENA rioting - this is just too obvious.

Thu, 03/10/2011 - 19:23 | 1038549 DUNTHAT
DUNTHAT's picture

If you were Bernank and wanted to sell QE3, wouldn't you create a crisis about now, watch the markets plunge, then come to the rescue with an accelerated QE2 plus announcing QE3 ???

Thu, 03/10/2011 - 19:26 | 1038573 LongBallsShortBrains
LongBallsShortBrains's picture

Volatility biatchez!

Thu, 03/10/2011 - 21:44 | 1039054 Buck Johnson
Buck Johnson's picture

He is correct, their is something big waiting to happen in Europe and it will be nasty.  Also tomorrow will be a bad for the simple fact it's a Friday before a weekend and with this day of rage happening along side thursdays bad day we will have alot of people not wanting to go long this weekend.

Thu, 03/10/2011 - 23:21 | 1039299 Saxxon
Saxxon's picture

Futures are up nicely.

Best scenario is, the indices gap open down a half or quarter point and, as the morning wears on, shorts begin to cognize that the Day of Rage is not taking the market down; and scramble elbows over assholes to cover.

Fri, 03/11/2011 - 03:01 | 1039812 TexDenim
TexDenim's picture

POMO Friday or not, I'm very confident that there are one or more Fed banker drones in a basement in Washington with access to a trading screen buying oodles of ES futures with money that exists only in Ben Bernanke's mind. The Crash Protection Team is alive and well.

Fri, 03/11/2011 - 14:30 | 1041445 Hicham
Hicham's picture

And meanwhile those poor rebels in Libya are going to get steamrolled. If there was ever atime when Obama could show some backbone and true respect for liberal political values he could do so with a no fly zone and perhaps some real support for the rebels. And by liberal I mean 19th century liberal with a moral grounding

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