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Market Response To Negative Data Glut: Serrated Edge, With FRBNY's Brian Sack Rushing To Scene To Cauterize Bleeders
Update: LOL - Intel is now up after cutting guidance. We are done here. Central Banks of the world: market is sold to you.
Brian Sack of the Fed's Plunge Protection Team (in collaboration with Chicago-based dark pool entry points) loves no volume melt ups:
What do you get when you flood the market with an Intel downward guidance update, a disappointing money printer dictate, and a drop on consumer confidence? In a word - total market insanity. Risk is now moving straight line up or down: the AUDJPY (and its derivative the stock market) has lost all semblance of normalcy and is now up or down in 30 pips increments with no rhyme or reason, as dogs and cats chase their respective tails, in what can only be defined as a perfect sawtooth pattern. Have fun trading: Brian Sack will gladly be on the other side off all your sell orders.
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And at 1040 the sump pumps at 33 Liberty kick in per usual.
With fury also...I've never seen it that blatant. CLANK, directly at 1040 and then fighting it like hell since.
UN-BE-FUCKING-LIEVABLE!
And don't forget about The Evil Empire and their protection of 1245 in the gold market, too.
This is amazing...man, talk about throwing all perceptions of integrity out the window for an 'all in' moment...
This is RIDICULOUS.
Actually, you are correct about how very close we are to the end.
One breakout or breakdown and it all begins to unravel, quickly.
I don't imagine much will happen between now and next Friday. Then, you'll get the August jobs #s right before the Labor Day weekend. You can bet your ass the week of 9/7-10 is going to be quite interesting.
I don't understand how they get away with this? they're obviously not selling it later right? as more than 3 shares sold = flash crash.
so is this what Jefferson was talking about? fed (aka banks) will end up owning [gary oldman] EVERRRRRRYYYTHIIIIIINNNGGGGG [/oldman]
"I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." -- Thomas Jefferson -- The Debate Over The Recharter Of The Bank Bill, (1809)
What I find really amusing is they continue to think this is a good strategy... as time goes by, more and more investors, be they institutional, retail, or professional, are going to keep walking away from this market. They continue to shoot themselves in the foot all while thinking they are saving the system. Wake up boys! Your efforts are in vain!
I must once again remind each & every one that the actions we see taking place no longer (if they ever did) have any rational basis. All large organizations, be they public or private, eventually become "self aware". That is, they simply act for their own benefit.
The Fed has hired so many traders, and has so many outside contractors, that there are probably now 10s of thousands of people whose ability to continue paying a mortgage, send the kids the school, and keep wifey in the gym are wholly dependent on daily market interference.
Why should they give a fuck that it's completey ineffectual? You don't think they read ZH and know exactly what's goin' down? Shit, some Fed trader who's gunning the market at this very market is probably nodding his head as he reads my post and is thinking to himself "gotta buy more gold". LOL
Yep. And precisely why we are very near the end of the charade.
Ultimately, the US cannot recover w/o the housing market, and a 'recovery' in US housing is at least 2 years down the road. All other factors are just noise.
No way in hell TPTB can eat every sell order, every pension, every CDO, every MBS, for the next 2-3 years.
It's far more likely that the whole thing unravels w/in the next 5 months.
They are having dog and cat fights in the Colliseum. They are banging sheep out back. This group is in the death spiral.
Not just ridiculous but truly sick.
(Removed).
BM: SPG 89.23 ;)
LMFAO...Yea, that's on my screen also. Incredible shit man...incredible.
+1000
Silver is busting out: 19.31, up 30 cents on the day.
http://www.kitco.com/charts/livesilver.html
Sorry BM I could not resist...
http://www.youtube.com/watch?v=PeyOnNple4M
nothing unbelievable about it at all, EVERYONE (I thought) knows 1040 is strong technical resistance. I covered some of my short there too, as did the whole world apparently.
LOL, right. Technical resistance...right. Even with Intel sounding the bells and Ben shitting the bed. Technical resistance...
umm...ben basically said, again, that the fed will keep supplying liquidity to prop things up for as long as it takes.
hardly bearish...
if you have trouble following charts or understanding implications to the stock market of unlimited liquidity, perhaps you should not trade.
Ummm...you can take your TA and ram it. That's BS. As far as providing 'liquidity', who gives a shit? That doesn't make valuations any better. If you saying that they are just going to absolutely defraud the market by bidding up equities, then fuck it as well.
you seem to be incapable of understanding that borrowing at 0% and buying companies with long histories paying dividends of anything above 0% is a good deal, and if the dividends are above 5% it's a freaking great deal.
but that's ok, you keep banging your head against the wall if you like.
You seem to be incapable of not being a Troll. How about Newsvine and MS Money. You will be appreciated there.
"... and if the dividends are above 5% it's a freaking great deal."
ummm... not if the stock goes down (a whole lot) more than that.
ummm...not if it keeps paying 5% dividends...
and get this...as the stock price goes lower THE DIVIDEND YIELD GOES HIGHER
imagine that!
get it now?....borrow at 0, earn 5%, the temporary market price of the asset is really not relevant...collect 5% in perpertuity.
jesus, is this an investment blog or freakin stocks for dummies?
...."the temporary market price of the asset is really not relevant"
I have a qualified candidate for asswipe moron of the decade.
On the flip side, this basically solves the housing crisis as the 'temporary market price(s)' are not relevant either.
Gentlemen, I present to you a profoundly stupid concept.
oh jeez, you're right, i forgot about people like you who would panic and sell an asset with a 5% (and rising) yield in a falling market...not only that, but one where 0% or even negative ROR is the norm...wow...
no wonder you're so scared and unhappy!
(p.s. if you had half a brain you'd question the validity of assuming the dividend doesn't get cut...but i can see why that didn't occur to you. you're welcome)
I actually don't have half of a brain. I have the full version with the stem and everything. I seems as if I'd have to tie half of it behind my back to have a fair argument with you, though.
Wait...yea...I think I get it now...buy a declining asset for the hopes that a dividend is perpetuated through a disaster based on the fact that I can get a (presumably no-recourse) loan at 0%....
No, fuck it, I don't get it. But, I'm sure you do. I'm comfortable with that.
the premise was you can borrow at 0, einstein, or didya forget that already?
so you buy an asset with 5% yield, good deal right?
ok so you are afraid the asset price falls, to oh lets say in half, now yield is 10%, you still with me?
Now YOU say that's a problem, i guess 'cause this is where you panic and sell.
Me, I say, fuck, rates are 0 and i can earn 10%, why would I sell? In fact, I'll buy more. How much can i have?
Now this is just my little dream scenario, that stocks fall that much to yield like that, but hey, some people buy lottery tickets, my dream is a little more plausible.
sorry you are unable to fathom all this, i tried to make it as simple an example as possible.
+1
This is the WORST I have ever seen it...
This really must indicate an end game...
I am actually scared at this point.
Chillax, dude.
LOL...right. Yea, no big deal. It's just epic fraud that's going to collapse into a ball of shit that will destroy my quality of life.
I'm just chillin' like a villin' now. Serenity now...serenity now...
Same as it ever was.
This is the functional equivalent of a dam crumbling apart at the top and breaking down. At that point, one sees frantic "authorities" throwing everything they can into the break in a desperate attempt to buy time until the water pressure (the "head") can be bled down and the pressure relieved enough to make permanent repairs. A sure sign of last gasp desperation is when they drive, drop or overturn their heavy construction and excavation equipment into the breech to stem the flow.
I have a clear vision of Bernanke, Obama, GS, JPM and other assorted scum driving various dump trucks, cement mixers and bucket loaders down the ramp and into the swell. Long live the flood.
Chaos bitchez!!! I love it!
Oh and for you Atlantic storm season fans...they are lining up!
http://www.nhc.noaa.gov/gtwo_atl.shtml
Generators bitchez!
Head: That might be the best avatar I have ever seen. Nice job.
seconded. excellent.
Third - I watched it three times and told my teenage son to watch it :) LMFAO
I am bearish, but the set up here is for a rally back to 109 -110 SPY. Look at the AUD/JPY chart. It is bearish overall, forming a Bearish continuation Pattern since mid May, but a move to the upper end, 77-78, is not out of the question befor resuming downward action.
I agree with this conclusion and I am in the same camp.
Your observation is correct, but that's exactly why this market is screwed up. Fundamentals have no lasting impact on the market at all. It's all purely technical. The market no longer functions anymore because everything today is being traded by computers with no concept of why something is worth what it is. Without real price discovery, how can anyone know what something's worth? The markets today is simply a giant craps table where the few players continually bet the same way from one roll to another.
I think that the fundamentals have the long-term effect whereas the short/medium effects are purely technical. This sounds like an echo, though.
Correct. TA will work until it doesn't. Ignoring fundamentals indefinitely is something that ONLY TRADERS can justify.
Like building a house on a known flood plain... sure, you can live in it, but you may not sleep very well. The day of reckoning WILL come, and it's hard to sell after the rain has begun.
It's been pouring rain on these markets for two years, and to ignore the risk of a 1000 yr. flood is just willful stupidity, IMO. I foresee alot of traders huddled on rooftops using 'for sale' signs as paddles. The risk/reward of trading these markets has never been more meager or pointless, IMO.
I'm not trying to diss the traders here, I just think you guys are flat crazy, standing in the rain w/o an umbrella.
This is what happens right before things go really bad........
yes it is.
I used to race cars and just before the motor completely comes apart it runs like never before. The markets look just like that felt.
Shocked. Liquid bot/bot action.
Any wonder that nobody other than bot's now trade the market?
-3std to +2std in under 25 mins.
Mazel Tov Chairman Shalom.
Seems like standard deviant behaivor to me.
overlay that both with the price of gold and the confusion is even greater
And yet no confusion apparent in the silver market. Up 27 cents today, and up, up, up the whole week.
And here I was hoping to continue my accumulation for another year. Oh well, no raises in my company this year, so there's not much point in waiting any longer. If I had gotten a nice raise, I could significantly impact my current hoard, but it is getting close to diminishing returns at this point, such that it would take me three or more years to double the size of my hoard at current prices. I'll be happy to take my reward this year if that is what is in store.
yeah silver has taken off...it will be interesting if they allow it to push through 20 soon....i was personally hoping for one more collapse in the PM complex so i could reload but i dont think we'll see it this time.
This is one the best Headline in DJ
"DJIA Futures Surge Above 10k After GDP Revised Lower"
Classic!
DavidC
Algorithm key headline words were a 100% hit-match this morning! 'Better, guidance, <less than>, drops, confidence,...all Skynet needed to see to put the coals to the fires double shovel!
Aw, cmon now. I'm sure its entirely "investors" who "shrug off" the GDP revision and "disappointing news" from INTC.
Robots running amok...
how do you post images like that?
Unfortunately, only Tyler (and company) along with contributors can post images.
Ah, yes, Bill Mumy!
http://www.youtube.com/watch?v=cTpUVAcvWfU
DavidC
silver bitches
No sense in even trying to apply any logic at this ridiculous point in time. The markets are a fraud, now 100% confidence lost, let them keep stuffing everything they can find into the dam it wont do them a bit of good, the game is over.
WTF???
Ahhhh, computers trading with computers....
You guys don't get it... the INTC forecast drop was priced in. (sarcasm off)
yeah, i wondered why no one was commenting on this, i have cnbc on and not a word.
i had a lowball bid on intel and i got filled, and i am just happy as hell to be able to get out at a decent level. Shocke3d more than anything.
I won't be buying intel again anytime soon...will short it if it gets any higher.
wish i had had my bid in at 16.60 though...
regards to intel's flash crash to 16.55, makes you wonder if it can't fall to that level in coming weeks....i wouldn't bet against it.
Notice the joke volume? It doesn't exactly scream "conviction" considering it was such a huge move off of the bottom. We're all playing with a stacked deck. The Fed and the HFT's continue to put on their daily puppet show. This can only end badly, I just wish I had the timing.
Up is down. Black is white (Miller's Crossing).
Bernanke is killing time until the transmission mechanism, Housing, kicks in. Time may very well kill Bernanke when / if it (hyperinflation?) kicks in.
In the meantime, kill the shorts, soil your shorts, it's all part of the same carnival ride included in the price of admission! Thank you 33 Liberty ... Hunter S. Thompson is missing out on some great material ... Maybe the FED can bring him back from the grave too.
Can't concentrate. Currently fantasizing about taking Mandy to Vegas for the weekend and giving to her every which way to Sunday.
Mmmmmmandy....
Pump it up time:
http://www.youtube.com/watch?v=0HtyF0jux2Q&feature=fvw
Gee, I wonder why Brian Sack wasn't invited to Jackson Hole this year?
Oh, Hoenig wanted "a greater variety of perspectives." My bad.
looks like public orgies have become quite common these days
Wow!!!!
We really are in for it.
Betta git your house in order.
I don't have CNBC on right now, but I can guess the commentary "The market is showing its resiliency in light of the Intel and GDP beating expectations for Q2. This is a bad sign for the bears. Its a great time to buy".
The odd thing is that intel traded down to 17.5. They have about 3$ a share of cash on the books. And even at the low end of the revenue guidance they will be flat to last quarter where they made 52 cents. q3 2009 they made 34 cents. If you pencil in 52 cents their trailing 4 quarter earnings will come in at $1.90 a share. At $18 - 3$ a share cash it has an earnings yield of 1.90 / 15.0 = 12.67%. Ten year notes are yielding 2.60 or so. There is an awful lot of room for disappointment in INTC to make up the difference.
Without a full on deflationary recession its going to be pretty hard to lose owning INTC over the next few years as a relative bet to any kind of bond you might come up with. Sooner or later people will figure it out and the market is apt to go nuts on the upside.
oh brother....ufb
ya sheep is a good name for him...
Yes, math can be a very confusing subject.
looks like you chose an accurate screen name
when I jump out the window I expect to fall upwards and fly around
the Fed assholes need to eat shit and die
the upcoming market sell off will break the feds back, the question is will Treasury accept their paper, and monetize their losses, passing it on to the taxpayers, and will the Congress stand still for that? the survival of the economy is a matter of firewalls, and at some point you want to firewall the Fed off from the rest of the system, but I doubt it will happen that way. Either way their demise will be the demise of the one party status quo political class, lots of populist rantings and ravings, and the few moneyed interests left standing, calling the shots. the Fed will become an object of pity.
the question is will Treasury accept their paper, and monetize their losses, passing it on to the taxpayers
I can answer that question - YES. That's almost like asking will the Detroit Lions fail to reach the Super Bowl this year.
friday the shorts cover, because the weekend is no place to be short, and so usually monday belongs to the bulls. a lot of the futures action is being driven by the mulitlevered trade, and you must put in your order for monday, on friday, and no rational (read short) investor wants to do that.
but the market has digested a lot of bad news, and held up pretty well. wall street can make money by borrowing money through zirp and buying its own stock back. think about it.
exactly. Hard to see a major crash with zirp.
it's possible, but it's an uphill battle, so to speak.
easy to see a crash coming when rates are rocketing higher, but with zirp...i dunno. See-saw battle will continue i imagine.
Yeah heres wishing you choke on another zionist bankers cock this weekend.
any idea how long this shit can last they do a stick save every time to sink 10 point slike and then pump it up another 20 all in an hour is just insane
can they continue to do this for ever?
Of course they can, they just wait for shorts to short thinking this is bad for shares and fundamentals matter at last.. then wham...
hit them right between the eyes......
bye bye suckers.
Don't bother trading or doing anything in this broken market all you are is another one to be robbed by the banksters
And the PPT are out in the open...
Bernanke said that purchases of longer term Treasury, agency debt effective because it drives investors to other assets.
There you have it.. drive the machines where you want them to go..
You can't compete with idiots who are blowing more bubbles, safer to stay away from them!
yes but in the menatime how do you8 protect your wealth
banks give fuck all interest
stocks are a risk and so is gold
where to?
The only risk associated with Physical gold is protecting it from thievery.
Can we call that chart pattern....
Hell in a Hand Basket.
I can see INTC going to 19.50, maybe slightly higher, in the days ahead. Then would be the time to short it.
Had been oversold for the last three weeks, is my reading.
yeah, i think you might be right. I'll try to be patient. I'm always too early.
(I do think over the VERY long term intel is a buy, but i'm just trading short term)
Goldman should hire and fire him, just for the headline...
Goldman Sachs Sacks Sack
(i know..flag as junk, but it is Friday! )
And if he was annoyed about it and they subsequently rehired him...
Goldman Sachs Sacks Sack, Sack says 'Sucks', Goldman Sachs Unsacks Sack.
Yeah, I know! Sorry!
DavidC
As first suggested on Thurs 26th, further upside for DOW/SP500 is expected.
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