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Mad Dash Into the Year End Statement Print
Hapless short-sellers howling again over the weekend about "head and shoulders breakdowns", myriad Elliot Wave patterns pointing to a "speed crash", etc. made for some easy meat for the Goldman Prop Desk Traders. The tape was turned and suddenly all the fund managers scrambling to raise cash were suddenly buying anything and everything to make sure they were fully invested in the "right stocks" by year end.
Once again showing how easily the Wildebeest Herd is spooked from running from one direction to another. Amazing how Goldman can use its Air Horn to turn the tape and book another $100 million daily "Layup Trade".
Leaving your typical, blue-blood GS Prop Desk trader laughing at his largest clients once again. Don't you hate these guys? Same guys in High School who always had an advance copy of the test answers and always aced the exam despite binge drinking Bacardi 151 the night before.
What was running today? The usual suspects. At least until 2:00pm, an uninterrupted meltup in financials and REITs:
And bonds were unfazed by the huge debt offering unleashed by Uncle Sam, as another 300%+ oversubscription assured that low rates would remain forever, and "Animal Spirits" will run wild among the risk trade speculators.
Performance anxiety cannnot be underestimated among the junior fund managers, otherwise classified as "bankers" by the Junior Leaguers, who do not want to tell their fathers that they are dating a "trader" or "gambler".
Now the race is on as to who can beat the S & P, who can beat the 9999 other hedge fund managers, etc. to get that fat year end bonus.
Imagine being a 26-year old fund manager. And your relationship is on the rocks. Primarily because your 24-year old hot girlfriend thinks you have a dead end job with no potential for huge upside. And your hot girlfriend is being regularly propositioned by Iranian plastic surgeons from Beverly Hills, Greek shipping magnates, professional athletes, Formula One race car drivers from Italy, and all the rest.
And she's "bored" with the relationship. And you know you will never find another chick with a hotter body.
And you have to "make your year" all in one fell swoop during the 4th quarter.
What kind of stocks are you going to buy?
Obviously, there are the "must own" stocks for the year end print. Because if you do not show outsized positions in these on your next mutual fund statement, Grandma is going to fire you and go find somebody else:
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REV check out those snipers... Don't forget to check the 10 year run out, ROFL.
H&S such a crappy, non-quantified 'pattern' .. hate to even call it that; just like golf, bowling and curling are sporting activities, not sports, the H&S is at best a self-fulfulling wannabe 'pattern.'
Folks staring at GS Friday missed the bullish Marubozu candle that the $BKX plotted Thursday and as well as Friday's Hammer. Friday also marked the 233rd trading day since the Madoff scandal first "broke" ... so it was only appropriate that he somehow be related to cutting off yet more heads from shoulders.
IF a crappy H&S were to develop .. the fulcrum of its right shoulder would most likely appear W/ R this week to sync up sentiment with an OPEX fade and actual indicators / oscillators / measures of cyclic activity therein would signal it for all us of within 4 days. That said, total guess into possibilities surrounding a non-quantifiable, garbage 'pattern.' Mark Douglas - disclaimer - ...'anything can happen.'
4:20 .. MBI in the AH trying to hold its recent baby, Adam and Eve double bottom from 11/02 & 11/03 at 3.81 and 3.80
Hey, how's that short silver trade treating you? (I don't normally rub into something like that but when people preach higher wisdom reading the entrails of the PPT, I can get bitchy also).
How does this douche really think about himself???
To be young and wise, again. But I guess the scars of life can never be erased.
I won't be wronged, I won't be insulted, and I won't be laid a hand on. I don't do these things to other people, and I require the same from them.
Books
Something VERY, VERY fishy with the volume in the REITs into the close...
Saw that too.
I saw that too. It wasn't enough to blow through 4% on RMZ today, 5% was the goal.
they are just trying to kill off the SKF'ers and SRS'ers
eff those effin' asstards!
Goldman and the other prop trading desks are giving lie to the old saw, "I wouldn't trade this market with YOUR money."
DB was no D B today.
and Abercrombie (ANF) was flexing those sweaty frat boy muscles too:
http://www.trilulilu.ro/geogeorge_10/97a694b75c350a?video_google_com=
You know I give good link.
The last picture makes want to puke! Gals only, please!
I won't be wronged, I won't be insulted, and I won't be laid a hand on. I don't do these things to other people, and I require the same from them.
Books
Girls only J.B.? bitch puhleeezz
Since you had to endure the horror of that Abercrombie frat boy here is something you can sink your lips on:
LTD oh la la
http://vimeo.com/3174967
PCLN now trading at $185 in the after-life, another fresh, new, world record high.
Shatner once again is knee deep in booze and hookers.
Let's give credit where it's due- the Prince of Darkness driving the dollar Crazy Train off a cliff:
http://www.princeton.edu/pr/pictures/a-f/bernanke/bernanke-03-high.jpg
I've got 5 fiatcos for the first person that 'goths' out BB to look like Ozzy.
Robo, I love you, man! Wildebeests everywhere! Keep 'em coming, the madder the market, the better the posts. DOW 30K soon!
Did anyone wonder if other stock markets could be pushing the US? I mean, in emerging countries stocks, volume has been rising since march lows (reaching a new record high last week in Brazil) as oposed to what happens in the US. Could that ALSO be the result of arbitraging to keep up with the correlations?
I'd love some article checking that.
LOL, what do you have against Greek shipping magnates? These guys know how to have fun with their billions. Today, there was some short covering, some end-of-year window dressing, but mostly just another tsunami of liquidity hitting the markets as global investors search for yield. The poor Chinese are stuck buying Treasuries even though they're losing a mint on them. What are they going to do? Convert to yuan and risk social chaos in China as unemployment soars? Nah, they're investing in hedge funds and private equity funds, which will propel this bubble much, much higher!
Oh my, serenity now.....
NOT.
I said it, they are not letting this down just yet. What will kill this turkey? Any takers....I/RAN, yep, that 'll do it. till then.......
Anyone still doubt that last year's crash was one fucking major withdrawal event by big banks. The same banks that raided the market last year then turned to government for help and get even more money.
There was nothing coincidental about last year's crash. It was a manipulated event and didn't need to happen. The market keeps going up now until the next major withdrawal.
Markets are controlled and rigged by the same gang as before.
As long as money is printed and thrown at every problem, markets will keep going up. The gang doesn't need anymore cash. The bank reserves are at record level highs. Liquidity is not the problem. Lending won't happen unless money is so fucking useless that banks can't afford to hold it and will lend even with higher risks.
Yes, Walkuere, you are exactly correct. they have been running this same game since late '63.
So from what I can tell, the only people losing wealth are the deflationists clinging on to their fiatcos for dear life.
Deflationists = FAIL!!!
I crapped my pants when I saw Thursdays ramp job on that 500k employment number....then I threw up Friday when they dropped that turd of a 10.2% number on us...could they please be a little MORE obvious.
So I got it coming out of both ends now
Luckily my shorts are hedged with commodities.
Waldo
Well you knew they had to throw a 200 pt day in there at some point to pique the interest of the common serfs! Don't expect them to repeat soon. GS is playing this nice and slow, as directed by Mr. Geitner. No melt ups this time folks. Anything strong will be met with behind the scenes selling by GS to bring in their "kindling cash" and have it ready for more downers to come.
Come on folks these men are pros; they control most of the strings. The only thing that will shit on their parade is an exogenous event out of the blue. In the meantime, buy the dips and sell the highs; this puppy is not going down if the U.S. Government has anything to say (and they do because they have all the money to play with).
Todays nonsense just sets us up for a 300 point down day.
christ my gold shorts. i shit the bed. i don't want to go long right now. but then i think that i should.
Are you trippin balls? Shorting gold? Dewd, you're standing in front of a freight train. Why would you not want to be long here if (it looks like) it's going higher???
It's not that hard making money trading, just go with the flow a.k.a. "the trend is your friend". Don't try and analyze the market because most of the time there's no logic or reasoning to it. If the trend is up then be long.
it does look like it's going higher, i agree. but i don't want to buy at 11 and watch it drop to 10 in a couple days. it just seems so overbought right now. rogers is talking about $2000 and i am with him. but his time horizon is a decade. at this rate we'll be there in a few months. it seems unlikely. i don't know. i do pretty well trading, but for some reason i always fuck myself on gold
There will likely be a pull back, but it may go much higher first. Who knows? Not me. Schiff is predicting 5,000 per ounce but who knows about that either. Remember we are talking about gold in terms of U.S. dollars. So i guess you would rather have 11 benjamins than 1 maple leaf?
Robo, no FUQI? Pretty funny today.
Agreed this market will continue up, and will coninue doing so until they suck every last cent out of who they are after any guesses?
There is no logic to this so dont try to understand it. This is the most blatantly corrupt market and joe retail is getting excited - that should be signalling a top but not likely.
One thing for sure, when this blows off it is going to be very ugly and a huge margin call on the carry trade and the dollar will rally.
Remember boys, we invested this game and right now the big boys are playing in the sand box showing you hows its done.
Oh yeah, all you ever need to know about surviving this you would have learned in private school - give the older boys what they want and you'll still have time for lunch.
China doesn't seem to be too impressed today.
Being that I am half Iranian plastic surgeon and half Greek shipping magnate, I take exception to this post.
Blow off? Pop and crash? Hatred is a poor advisor.
#125392 ~ One thing for sure, when this blows off it is going to be very ugly and a huge margin call on the carry trade and the dollar will rally.
YEP agree ............
http://www.zerohedge.com/forum/market-outlook-0