Tyler Durden's picture

No surprises here.

Or here (cumulative variance from average volume).

One day, very soon, more than just robotic churn, POMO levitation and short covering will drive this market, we promise.

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the mad hatter's picture

monetary theory. more diluted dollars chasing around the same dilapilated goods inevitably leads to higher asset prices.


Highrev's picture

New 52 week highs in the Transports and the RUT.

One hell of a snapback if I don't say so myself.

Muir's picture

@mad hatter "monetary theory. more diluted dollars chasing around the same dilapilated goods inevitably leads to higher asset prices."



and those that seek to front-run such.

redpill's picture

Even Velveeta doesn't melt that consistently

NOTW777's picture

maybe the libyans can start trading with a government program - pick up the vol.

give them arms and etrade accounts

Kassandra's picture

So no one came to the party?

Cash_is_Trash's picture

Seems that the punchbowl parties by itself.

ghostfaceinvestah's picture

this deserves a story

Hershey Co. /quotes/comstock/13*!hsy/quotes/nls/hsy (HSY 54.69, -0.03, -0.06%) said late Wednesday it will hike wholesale prices across the board to help offset raw material costs and other expenses. Hershey said it increased weighted average wholesale prices by about 9.7% across all "instant consumable, multi-pack, packaged candy and grocery lines" effective immediately

FunkyMonkeyBoy's picture

Haven't you heard...? The Bernank sees no inflation.

Highrev's picture

Put him on Team Insane.


Edit: That would also be Team Suicide. Same team, different names. ;-)


MachoMan's picture

Natchez has links to letters received from ammunition companies declaring that due to increases in input costs, expect prices to rise across the board 7-15% in May...

Pool Shark's picture



Okay; now they've done it...




Sudden Debt's picture

Second sign of the apocalyps...

the first one was when they raised the price of beer...



Sudden Debt's picture

To be honest. It's true.

We haven't had a real working govenrment since the crisis started.

And our recovery is really strong.

Allmost every company I know has trouble hiring people or finding people.

Inflation is pretty high yes, but that's good as our index made sure every worker got a raise.

In June, we'll all get 3,5% extra again. About the same as what we've got in januari.

Our deficit is not that bad. It could have been worse. We didn't spend that much.

The state didn't do any interventions and the economy did need it in the beginning but recovered pretty fast as companies had to handle it themselves.

I'm really starting to wonder why we actually need a government.

We would need something like a company that runs things and only a few that make decisisons for the state (elected). And run the country like a profit country with the taxpayers as shareholders.


AccreditedEYE's picture

+1  I have some clients in light manufacturing who tell me between oil prices and lack of resins from Japan, things are getting VERY tight. The over-paid analyst community better get off the dope and start doing a little analysis... but who am I to tell them to work for their bonus that my tax dollars helped pay for?

Robot Traders Mom's picture

Everyone should check out the new Faces of Death movie. You can do so by going to Yahoo Finance (thanks Robot) and entering the ticker AAPL.

Down well over $2 today. Look at the 1 hour chart...UGLY! Go back historically 8 hours...SCARY! I moved my personal price target on Apple down to $4.56.

Meanwhile, gold and silver had a solid day despite the attack...I guess people want to store wealth, not shit!

Sudden Debt's picture

it been quite the time since I visited that board. google used to have a good one, but they fucked it up.


Mr Poopra's picture

Bernank: "Permission to piss in my pants, master."

Beelzebub: "Permission granted."

Sudden Debt's picture



kornholio's picture

well nothing matters anymore, we are all apparently wrong about the stock market, the economy and everything else...Mr. Market is proving us all wrong day after day after day...I admit I missed the rally over the last year because I was too bearish and thought I was using common sense in my investing...could have doubled my retirement money easy but ended up getting less than a 3% return...definately too late to get in now...

ghostfaceinvestah's picture

Speak for yourself - I saw the money printing in March 2009 and put all my wealth into oil, PMs, and commodity based currency like CAD and AUD.  And I mentioned that on ZeroHedge from the beginning.

But don't feel bad, when the money printing stops you will be able to more than make up for any missed time by shorting the market - it will make the NASDAQ crash in 2000 look tame.  There is nothing supporting asset prices, and this economy, but money printing.

DonutBoy's picture

I don't know why this has to end.  The Fed may take a breather on official QE but they'll find a stealth QE path as they continue FOIA legal battles.  They'll have to, we now have to fund 3 wars, the presidential campaign for 2012 has started, and they will try to save the states and some municipalities.  Chicago is TBTF. GM is TBTF.  California is TBTF. 

Meanwhile retail investors and start-ups continue to avoid the market altogether.  Who's in there other than hedge funds, 401K's and pensions?   Why would they leave?

A reasonable scenario is that the dollar continues to decline until America can afford its nominal debt and its standard of living declines until its trade deficit turns into a trade surplus.  I don't see why the market can't melt up all the way.

Dan Duncan's picture

Hi Tyler.  First Time Writer, Long Time Reader. 

I'm concerned about today's action in the markets.  Specifically, that the Dow only closed up 70 points and seemed to lose some steam at the end of the day.  Do you think this warrants an over-night SEC mandate to ban short-selling and/or some sort of sub-zero-interest-rate-mandate to stimulate more Animal Spirits?

I'll hang up and listen to your repsonse.  Thank you.

Racer's picture

"Fed's Bullard says Fed tightened too evenly in 1994, too evenly in 2004, 'this time it will be just right' "


HA HA HA HA these idiots are really showing how stupid they are

Milton Waddams's picture

"The Stock Market, with its weekly pay-out of enormous gains, was the one public event to which the proles paid serious attention. It was probable that there were some millions of proles for whom the Stock Market was the principal if not the only reason for remaining alive. It was their delight, their folly, their anodyne, their intellectual stimulant. Where the Stock Market was concerned, even people who could barely read and write seemed capable of intricate calculations and staggering feats of memory. There was a whole tribe of men who made a living simply by selling systems, forecasts, and lucky amulets. Winston had nothing to do with the running of the Stock Market, which was managed by the Federal Reserve System, but he was aware (indeed everyone in the party was aware) that the gains, after discounting for currency debasement, were largely imaginary."

Pepe's picture

Patience: The day of reckoning is coming

RobotTrader's picture

1) Russell 2000 is leading

2) Commodities were cracked hard today initially, but no follow through selling

3) U.S. Dollar still cannot get any bids, despite periodic "flight to safety" bids that seem to fizzle out

4) Many bullish spring setups on the banks, such as GS, MS, WFC, STI, etc.  Either these fail or the banks start running hard tomorrow.

5) EEM now at 52-week highs again

Based on the observations above, the bulls are still in control.

But Tom O'Brien, David White, Larry Pesavento, etc. at will still stay "failed breakout" and "no volume" and "retest of the highs" and claim that the market is about to crash and the dollar is about to break out on a huge rally.

Take your pick.

Highrev's picture

It's a nice setup for a head fake to be sure.

It's also a nice breakout setup as you note.

Either way, I think we'll have the answer by the end of the week.

(The technicals as I read them say we should continue higher, but the macro read is for an epic fail . . . and that brings us back to where we started.)

Muir's picture





"...macro read is for an epic fail "




If the only macro that matters is QE , why would the market not levitate indefinitely.


p.s. This is a serious question, not trolling

hambone's picture

I likewise don't see why it will fail in the near term?

I don't think we fail til we see commodities, ags move significantly higher.  This is still a nuisance for Americans only effecting discretionary spending.  Not gone hyper critical as of yet.  Major problem for Asia / MENA / poorer America's as it's deep into their non-discretionary personal spending.  All the markers are there for a hyperinflationary event in mid term but til then, free money is free money and higher prices of assets is viewed as good despite lack of true demand and misallocation of capital (fact that none of this is sustainable doesn't matter until it isn't sustained)...til it goes too far (see $150 + oil, food gone wild).

Highrev's picture

A serious answer would undoubtedly be a small treatise that would most certainly include footnotes and references to what has been written and shared here over the last couple of years.

On the other hand, a serious answer could also be given using one word.




(As so many have said so many times though, that doesn't necessarily mean tomorrow, but the potential for an epic fail undeniably exists. IMHO)

Bill Lumbergh's picture

Different day same story with the it up until the shorts cover and have every one and their grandmother fully invested thinking the market will never go down again...then the "bankstas" lay on the shorts nice and thick and laugh all the way to their bank...then buy the fallout when everyone sells at the bottom and the cycle begins anew...let me know if I left anything out here.

monopoly's picture

This is insane. Still will not short this market. 10% on choclate. That is it. I am marching. lol

Highrev's picture

Insane is right.

Imagine history students 100 years from now (that's assuming that the human race is still around of course). They'll be reading about how the disconnect was so extreme that world stock markets were rallying to new recovery highs as North Africa and the Middle East were coming apart and Japan was literally melting down.


ghostfaceinvestah's picture

100 years?  Try 100 days.  It isn't that long before the market cracks, if QE really does end.

hambone's picture

Who's winning?  Who's losing?  Is there any reason for this trend to change?  Any mechanism for this change? 

If the answer is no reason for change and no mechanism to change...why don't we look away.  It appears the markets are now totally captured by fiat CB's.  Bond markets, equity markets, etc. 

So either we give up, give in, and enjoy or stand up.  Seems ZH'ers (self included) are the uncomfortable fence sitters.  Unhappy but uncommitted to do anything bout it. 

hambone's picture

Funny how we notice none of the crooks in government or wall street go to jail - but is anybody taking action against the system and willing to do time?  What about a massive movement to stop paying taxes.  Other means to show civil disobience?  Anything? 

I'm losing the capability to live the lie any longer.  Pretend that my meetings, my business trips, my projects have any fucking meaning.

I'm losing my will to keep doing my job.  I'm ready to change the game. 

How many are approaching this point of no return?  Are there others? 

johnmilan's picture

I am with is truly unreal.    no one with real balls anymore     hopefully i will make a run for an office soon 

ShouldveLeftHer's picture

Im with you, but were such a small percentage of the populace in USA that it wouldnt catch on big enough where we wouldnt end up penalized for going against the machine (IRS, .gov, Fed), and my family is already on the ropes. Were hanging in, but there is no rope-a-dope in me. Just hoping I keep the equity in my house, I consider myself lucky to have some at all. But I cant NOT pay sales taxes, I cant avoid inflation, I have to purchase gas which has built in tax, same with clothing/food/necessities for my daughter. I planted a garden, but that wont help for months, and I buy physical silver every chance I get, which might turn out to be a complete bust. Too many people have a lot to lose to just say fuck it. If I didnt have a kid depending on me Id have given it all up and fell off the grid a year ago.

Lady Heather...UNCLE's picture

I guess most ZHers have all seen this...but its still good. George Carin, btw, was a fucking satirical genius.