Market Reaction To Bernanke Speech: Disappointment

Tyler Durden's picture

Alas, the market still refuses to acknowledge that the S&P will need to drop below 1000 (and whatever the appropriate level for the RUT is) for Bernanke to greenlight QE 3 which will in turn send everything to the moon (better have those collocated algos ready and steady). Judging by the post-speech reaction, markets may finally be getting it, just as Bernanke is also getting that he is dealing with a heroin addict who will not settle with methadone (aka "extraordinary" and "extended").

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Diablo's picture

long SDS, bitchez!  :)

bankrupt JPM buy silver's picture

Panacea.  Goddess of healing.  He alludes to the fact hes not healing anything.

66Sexy's picture

Sounds to me like no formal QE3

Clueless Economist's picture

I may be in my pajamas, but I studying for my PHd

Bill Schaefer made a financial gain with his invention.

Attention parents and grandparents with Gerber's life insurance


and the genius of Steve Liesman all brought to you by CNBS!

TruthInSunshine's picture

Bernank is killing it as a comedian! Killing it!

That's his real calling in life! Shit, who knew the bearded Keynesian mutant could be so damn hilarious?


SheepDog-One's picture

HEY all we need is the nations #1 employer McDonalds to hire 250,000 new part time min wage workers monthly, and we're all set!

bigdumbnugly's picture

yeah but steven wright has already copped the deadpan, depressed, rambling delivery.

Peak Everything's picture

Maximum employment and price stability sounds pretty good. Why only the medium term? Why not short and long term also?

ms1408's picture

I didn't think I'd laugh but that is HILARIOUS.

SheepDog-One's picture

But those results are not typical...

zeek's picture

until they deem the bear ETFs as a threat to the 'stability' of of the financial system...


I'm still waiting for them to vaporize my holdings!!!

66Sexy's picture

the only true equity is inverse equity derivatives

DoChenRollingBearing's picture

That was a nice swoon!

Cdad's picture

Looks like the S&P found support...aka the closing bell  :)

hungarianboy's picture

haha fantastic comment. laughing my ass off here :D

found support, aka closing bell :-)


PicassoInActions's picture

What is the definition of temporary? Transitionary? IN time frames?

3-6 month? 6m-1 year? 2-4 years? Any ideas?

Temporalist's picture

Until the Chairman is no longer Chairman and doesn't have to address these issues anymore.

The Profit Prophet's picture

"Transitory" is a relative is the term "solvent"...neither of which apply to the US/World economy.

T.E.I.N. everyone!

Steelpulse's picture

T.E.I.N.??? New to zero hedge. Thanks.

The Profit Prophet's picture

The End Is Near (I'm the resident ZH doomsday and a few thousand others!)

It's an homage to Tigger's famous departing phrase: T.T.F.N.

Dreadker's picture

it is somewhere between a nanosecond and a light year... (and i chose a small unit of time and large measure of distance on purpose answering that one... straight from Der Benanks handbook - smoke and mirrors... and printing presses)



mynhair's picture

A light year is distance, moron.

(Sorry, couldn't resist.  Just in a bad mood, and you were handy.)

achmachat's picture

For your information... Nixon was saying in his infamous speech that they were going to take the USD off the gold backing temporary. That was 1971.

NYPoke's picture

What is the definition of Transitory? 


Doing the same thing over and over, expecting different results.

Dreadker's picture

Its ok... its only transitory... lol

TruthInSunshine's picture

Murder, rape & pillaging are transitory events.

bbq on whitehouse lawn's picture

Your transitory events have lasted since pre-history. 50,000 years since there has been anything to pillage but stealing goes back much further.

Sunshine is as true as the breeze. Both are needed for plants and plants are needed for every other living thing.

BobPaulson's picture

Life is transitory. Is the FED?

Xibalba's picture

those pesky 'speculators'....

rajat_bhatia's picture

we'll get heroin on the moon too, not much oxygen though

SDRII's picture

1st comes debt ceiling lift

next comes a main street stimulus "jobs" program

then comes the Fed

Then comes elections 2012 

SheepDog-One's picture

So everything thats already failed, just do-over again! Wow should work great and fool lots of people into believing their Ramen noodles are lobster and filet.

TruthInSunshine's picture

Ramen noodles have less saturated fat and are lower in calories than lobster and filet mignon dinners, so The Bernank, Jeethner & NerObama know what's best for us.

We're richer and healthier!

Rainman's picture

Timmay wants to make us richer all right. Looks like he is furiously searching for the greater fool to better his dumping price on GM.

SheepDog-One's picture

Thats all...everything now is just trying to find a greater fool to dump the bubble to.

Clueless Economist's picture

I have advised Chairman Bernancke that QE3 is only a start.  We also need a $5 trillion stimulus to create or save millions of shovel-ready jobs.

Dr. No's picture

In your defense, I can see the logic of spending $5T asap.  May as well get some dirt moved while you still can buy a shovel with $USD!  Preempt the FED and bankers!  If we are going to drop money from helicopters, at least hover over mainstreet rather than wallstreet.  burn.

The Profit Prophet's picture

Excellent advice Mr. Krugman. May I be so bold to suggest that your bastardized Keynesian brilliance be utilized to gain political support for the FED simply hiring every unemployed/underemployed person in America, paying them $30,000/yr each for a two year period. The FED would only have to extend its balance sheet by another 2T (which is less than the amount handed to the Elites) - and the 30,000,000 newly employed Americans can be put to work providing massages and hand-jobs to the about your economic stimulation!!!

T.E.I.N. everyone!   

RobotTrader's picture

ES at the lows right now.

12 points down in a flash crash.

IYR remains a safe haven, it was actually up today.

Resource stocks were totally destroyed in the last 10 minutes.

Deep's picture

Damn, you flip flop more than Cramer

oogs66's picture

IYR will come down

homersimpson's picture

Even PDs don't flip as much as the RoboMondayMorningQB

Coast Watcher's picture

I think Robo gets paid by the number of junks he receives.