Meanwhile Afterhours...

Tyler Durden's picture

It appears that someone may have called the bluff on our earlier post of a possible commencement of trading in advance of QE3 (and how anyone could be surprised that QE3 is coming is beyond us - it has been our conviction that the Fed is now on a slippery slope from which there is no return since late 2010), and decided to take our every offer in ES afterhours for nearly 10 points straight. That this trade was very much out of the ordinary is confirmed by the complete absence in any of the traditional correlation pairs (see chart below) such as the AUDJPY. Is the prevalent mindset finally one that QE3 is inevitable? If so, look for gold and silver to follow suit promptly and even promptlier nullify today's latest margin hike by the CME.

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Sunshine n Lollipops's picture

Awww, man! I was gonna be the first poster and, oddly enough, 'promptlier' was gonna be the subject.

Well played, Porky.

Slash's picture

now wait a second. Are we sure this isn't a blatant attempt to get as much people in on the long side before letting it come crashing down for a while to garner political will and support from the sheeple for QE3?


If big money really wants to go long, they won't do it so brazenly right?

DavidC's picture

I wouldn't.

I'd say "Are we sure this isn't a blatant attempt to get as many people..."


Thomas's picture

It's "Ground Hog Day" meets "Three Card Monty".

ATG's picture

Follow the money (AUD/JPY)

themosmitsos's picture

Margin hike on the SPUs must be coming ....


jedimarkus's picture

Ben and Timmy won't allow CME to stop the madness...

mrcybermac's picture

We keep recovering from these margin hikes promptlier and promptlier and promptlier.

knukles's picture

Most soitantly Le Gran Fromage will speak to this from his Telepromptlier. 

Problem Is's picture

You mean: Obummer, le piqûre grand et maigre prend la parole à partir de son télésouffleur...

luckylogger's picture

I got burned by this and want everyone to know what I know.

It came across DJ news wires this am that the trade was a DX trade.

I really do believe the rumor about it being a es trade is bunk and meant to trap us

little people. Somebody either wanted to get short higher or wanted extra profit to make the quarter and started the rumor and it worked. Who Knows who, but they probably are backed by the full faith and.............. of the FED. With their blessing to steal everybody's retirement funds so the big banks can keep paying big bonuses. And according to CNBC "earn their money".

Side note-- Why are their heads not hanging off the Brooklin bridge???

There comes a time when it is just too much-- you think??

dizzyfingers's picture

"Why are their heads not hanging off the Brooklin bridge???"

Why indeed. Because there are only sheeple now?


Calvin Jones and the 13th Apostle's picture

To the moon ... and beyond!!

Bastiat's picture

"promptlier"  will do nicely!

themadhur's picture

It's a bitch being a bear.... bitchez.

X. Kurt OSis's picture

This just in: unruly mob marching down broadway towards Wall Street. I'm not even kidding.

Sophist Economicus's picture

New Yorkers always look like that

X. Kurt OSis's picture

Looks like they are protesting budget cuts/austerity measures.

Per the flyer one of them gave me:

Richest 1% get 44% of New York income
Wall St gets $15 billion in stock transfer tax rebates
Cuomo wants to cut taxes for the top 1% while slashing public services and closing schools.

Other labor related stuff. One group of communists. One group carrying an anarchy banner.

The charts on their flyers look like Excel 97... These people really are suffering.

Bastiat's picture

Thanks for the report, Kurt.

InconvenientCounterParty's picture

hookers and coke dealers raising margin requirements

X. Kurt OSis's picture

I'm already 250% net on that trade.

I got eight balls and hookers stacked up like cord wood.

(Edit: there's always challenges to being long physical. I'm sure you all understand)

X. Kurt OSis's picture

Do you like wings or thighs? I'll make sure I put some leftovers aside.

JohnG's picture

These days only Fukushima melt your face off wings.

Long-John-Silver's picture

Labor is being screwed by their own Unions Bosses. That protest today is an effort to finish collapsing our economy. They think once they collapse the economy that can step in and take over. I don't know what they think will be worth taking over and nether do they. They will starve to death as States go their own way leaving Washington D.C. to rot.

X. Kurt OSis's picture

Personally, I'm a libertarian, so I don't really have a problem with unions (freedom of assembly, and a constitutional right to have contracts enforced seems to fit with collective bargaining). I do some volunteer work for our local school district. The average cost per student is almost $15,000 with an average of 22 kids per classroom so that works out to about $360,000 per class. I know our teachers average around $60,000 so that means $300,000 disappears into the government wasteland. In our district, almost a third of the entire operating budget goes to paying for transport and private tuition for out of district programs for special needs students, as per state mandated programs. The rest, god only knows. I find it hard to blame the unions for state fiscal imbalances. I find it real easy to blame government for fiscal imbalances.

In the private sector, GM was one of the crappiest run companies in history. Again, I find it hard to blame the UAW.

That said, the unions themselves are pretty shitty organizations and mandatory participation rules/ automatic salary deductions for union dues is also fucked up. I don't like a lot of this, but I find it hard to through unions and labor under the bus.

dizzyfingers's picture

I'd love to have an account of where that 300K went.

Reptil's picture

A link would be nice. Or.. better yet, a video. "Mob" is quite open to interpretation, and so is "unruly".

In the morning, before coffee, I'm "unruly".


X. Kurt OSis's picture

No link, coming to you live from the ground... And the video on my blackberry sucks.

Filthy Rotter's picture

Don't worry...their stock fell today!

X. Kurt OSis's picture

It fucking should. This archane brick is useless.

On the train now. Cold and hungry. Need to food and a sweatshirt or something to effectively riot.

PY-129-20's picture

Yes, it is open to interpretation.

Like: Homegrown terrorists sent by Qdaffy to destroy American wealth.

Id fight Gandhi's picture

Amazing how fraud And free money for the rich can run a market.

bob_dabolina's picture

/es is only up 3 and change AH

What's the hysteria?

alien-IQ's picture

are you looking at a live chart or posting from a driod at a bar after too many happy hour martinis?

bob_dabolina's picture

Definately looking at the live chart.

/es + 4 now.

update: 3.25

updte: 3.50 you want me to continue or are you good with your MW quotes?

reading's picture

How live is it if you can't see the print at 5:20 that took it to 1314 in about 3 seconds?

bob_dabolina's picture

The same quixotic behavior occurs when /es plunges and then by some act of unicorn prancing shortly thereafter goes to unch.

The fucking market is a big fart joke.

jedimarkus's picture

I guess Kansas had to buy a 10 lot...

alien-IQ's picture

then look at a 1 minute chart and look at the move @ 5:20 pm and tell us if you see anything out of the ordinary.

bob_dabolina's picture

Don't know where you've been for the last 3 years but out of the ordinary is very much ordinary now.

alien-IQ's picture

then don't worry about it. nothing to see here...move along.

bob_dabolina's picture

It's a couple big players pushing the market around. This shit happens. Even Cramer has admitted to doing shit like this...

update for you: /es still @ +3.50