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No Volume Meltup, Nth Edition; Dow 36,000 In Sight
With no risk left on the table and no incentive to sell anymore, the autopilot "lift every offer on no volume" algo is rampaging. Compare today's volume to the past two days. The meltup will continue until the banks run out of repoable securities to pledge to each other and raise now-riskfree equities to 36,000 and much higher.
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Self will run riot.
There is no excess because excess is measured by that which knows no excess.
"risk on, Wayne!"
"risk on, Garth"
<air guitar>
ZIRP bitches.
It's a good time for Neil to call out Timmy (the Spock-eared Orc)
Every f!@#in' time I go short this sh1t happens. What an outright scam / rigged casino this is. Unreal. I got stopped out of a leveraged short ETF yesterday, barely escaped with my 3% gain.
Nothing makes any sense. We've got the EU coming unglued and the market ramps two days in a row on that news? WTF?!?!?!
This may sound sick, deranged, but I hope this market gets absolutely destroyed sooner rather than later and I wish all the sheep get whats coming to them.
Why bother even trading anymore when fundementals and news don't matter?
My sympathies brother. If this Greece deal finally goes through this weekend, I have a sick gut feeling that the market won't be destroyed for quite awhile. All the smug bulls (see cnbc) will gloat with the vertical market and then be totally shocked when the house of cards fall in.
I realized the same thing about a year and a half ago. Ag and Au for me since.
The sheep have had plenty of warning...
Bring it, Bitches!
Me too. In the fall of '08, the gov't would announce a new scheme everyday the market was down, with the only purpose being to juice the stock market. It was pretty clear what they wanted and I didn't have the bankroll to fight them. Ag and Au since.
how many times do u touch a hot stove before you realize you WILL get burned every single time doing it? As i learned last year, there is no point trying to catch the first 5% move. SOMEthing has to happen to force the bank prop desks to stop buying and start selling. And then still, let the first 5% of the down move happen, no need to try to catch it.
We have had too many short Martyrs in the last few years. Im tired. Im tired of attending the financial funerals of my friends. So tired. ;)
So many tired and mauled bears. So many cautious doubters. It's moments like these when the tide starts to turn.
this is the N-th moment this is happening. when the other side has unlimited bullets, the resistence has to move underground and wait.
This N-th moment is happening as a global sovereign debt crisis is underway and now recognized by more mainstream elements. I hope that our political and economic leaders can pull this one out, but I'm not that optimistic given what I have watched unfold over the past several years.
That said, as you allude to, predicting can be dangerous to one's trading health. My gut is saying one thing, but my trading indicators (intermediate term) are not there yet. I've learned the hard way to obey my indicators.
Ditto here. Decided to just go long IEO (oil & gas explorers) and gold & silver. Decent -- but not spectacular --- results here lately. Hoping PM's will ramp much higher soon.
so what about Potugal, Spain and the rest of the Pigs
suddenly thats forgotten about
Amazing! Total and Absolute corruption.
although earnings are good and thus should support equities, market moves in the us are just ridiculous...
glad that im german with some real estate in germany and the czech republic (that has value as it is build of stone) so that i dont have to trade equities!
wtf
Moral Hazard will be Punished by real Gold and Silver.
Silver has something going on today!
Both Metals are really strong against the FRN.
everything is allowed to go up except the gold and silver stocks. those are not included in the models.
"gold and silver stocks"?
That's Fiat Gold and Silver.
You want something that hurts when you drop it on your foot...
Why are we talking about the "melt up" like its a surprise. You panic sell, you dont panic buy... so lower volume up days make sense. I'm not sayin its not a manipulated market, but its been buy the dips how long now??
Wash, rinse, repeat.... ad nauseum (infinitum?)
+1. This is sick.
oftentimes its been fascinating to watch gold or silver skyrocket and see the stocks sit or, if the cartel is particularly nervous about the peasantry getting interested in the sector or the skyrocket is attracting too much attention, the stocks are forced down.
the manipulation is blatant. not that anyone at the SEC cares...
and we all know how protective the CTFC is of the cartel boys.
oftentimes its been fascinating to watch gold or silver skyrocket and see the stocks sit or, if the cartel is particularly nervous about the peasantry getting interested in the sector or the skyrocket is attracting too much attention, the stocks are forced down.
the manipulation is blatant. not that anyone at the SEC cares...
and we all know how protective the CTFC is of the cartel boys.
what is fascinating is that stocks like HL...it was trading at the same price when silver was 6 bucks an ounce......
gold stocks, same thing. Last time NEM was as high as it is now, gold was in the 400-500 range.
fascinating aspect to this is that all the gold followers are completely focused on the cartel's manipulations of the Comex. None seem to notice what the same gang of thugs has done to the stocks over the years.
Before responding to the virtually ubiquitous ZH poster "HarryWanger", please be aware of just whom and what you are dealing with in this person:
http://www.minyanville.com/businessmarkets/articles/AAPL-apple-gm-psycho...
His real name is James Kostorhyz, and he is here posing as a troll in dishonesty and in disregard for the fundamental purposes of this forum. He is NOT posting here in good faith, but is purposely antagonizing those with independent, anti-establishment views and opinions for his own selfish and cynical purposes, as part of a study on "the psychology of permabears".
He believes that anyone who opposes the current widespread fraud, corruption and rampant lies within our societies and governments are "utopian" and unrealistic, pollyannish dreamers.
And for those ZeroHedgers who are advocates of sound money backed by gold, this bankster shill is already out there with one of the most disingenuous, dishonest pieces of pro-establishment propaganda on the topic, expounding on how such financial integrity is "impossible", and merely "the rants of an ideological fringe":
http://finance.yahoo.com/news/The-Gold-Standard-Solid-as-minyanville-285...
Please do NOT respond to this reprehensible troll, here or anywhere else on ZeroHedge. He is NOT here in good faith, and should be shunned!
Well, as I said on another thread, the most puzzling part about the US market is that Shanghai is down 12.5% YTD and Hong Kong at 5 week lows. Whether it's due to the fact that maybe they are falling from a higher place, it is the one area that spooks me a bit. The EU stuff is a sideshow and the end result is what we all really expected. Keeping my eye on Asia though.
You don't suppose that they've run short of rose-colored glasses after exporting so many to the good ol' US of A, do you? :-}
Best regards,
Who cares about asian socialist countries?!
I am a true patriot, I dont give a D@m# about asia's stocks.
America is #1!
Pump'em Ben, throw more money from your choppy!
Ah, Harry, a considered post at last.
Yes, that is concerning and many bulls I know have become content to take their money off the table in the last few weeks. Outside the US the performances in April are poor - after the first day of the quarter, this last rally has been US only.
If we get most indices globally back over their 20DMA then the game is on again, but right now cash is king for those who believe in it, and gold is king for those who dont. You may be the last bull - and thats not good.
By the way, 800Million+ is a large sideshow.
http://en.wikipedia.org/wiki/Demographics_of_Europe
With the homebuyer tax credit expiring tomorrow, naturally IYR is putting in a monster move...
Anyone else notice the 10 minute and 60 minute SPY charts?.. especially the 10 minute.... looks like a perfect Head and Shoulders
Billy Bob
Forget the old fashioned chart patterns in this market... they are only there to fool more shorts
I agree. Don't pay any attention to any of the time-tested patterns - Dow theory signals, head-and-shoulders patterns, all of them have been incorporated into the computer trading algorithms. They (TPTB) know how to trigger buy signals or overwhelm sell signals to their advantage. Technical analysis is useless, worse than uselss actually, in this computer age.
The fed will print until they believe money has filtered out to the people - its the mega lotto stimulus program....
Fed Facing Lawsuits, Criminal Complaints Over Market Manipulation
http://www.thenewamerican.com/index.php/economy/economics-mainmenu-44/3425-fed-facing-lawsuits-criminal-complaints-over-market-manipulation
well, that's silly, that ain't gonna happen. not while the prop desks' bonus structures are in place. what do you bet there is money out there on who get to take home the first billion dollar thank you Bennie bonus?
i see from 'fly on the wall' that resistance on the s&p is 1213.92....... teehee. they should realize in fact - there is no resistance left. just algo ramp gap over that spot, and presto magic - no resistance!
Can someone explain what exactly is being measured here and why we should care? Obviously, this is not a "no volume" market. The number of shares traded today is fairly similar to yesterday at this point. And today's volume is higher than the ADV over the past few months. I assume this is the "Volume Accumulation Oscillator". I know this can generate buy and sell signals if it's strongly positive or negative, but what does it mean when it's neutral?
must... must print mooorrree money
you know, if they actually allowed a few real trading days now and then, they might get away with this reflation and dumping all the stock on retail. as it is, this is so fake, even the dimmest of retail investors is freaked out of their minds.
I love you guys dearly, but seriously, yesterday was an up day on decent volume... OK back to shepherding my long positions.
This all ends bad. The events of the past few years should never let this one truism of human nature ever be questioned again. " We in fact never learn and the intelligent and responsible will always be in the minority."
And also the only ones not staring at the coming events in disbelief.
jbc +1000
or should I say plus a few trillion
its a sick joke
really can this really be reality
Am I dreaming all this?
House Of pain - Jump Around
http://www.youtube.com/watch?v=DwQbPgouUYo\
I came to get down. I came to get down. So get out 'ya seat and jump around!
Jump around. Jump around. Jump around.
Jump up, jump up, a get down.
I think Harry Wanger is busy jerking off today on his bloomberg terminal.
Just got off the phone with a supplier. He can't make payroll and wanted me to quick pay our outstanding (current) invoices. Long live the nascent recovery!
Dow 36000 fine with me, if silver keeps following it up
look at the steel guys on how poorly they act on top of chineese market the suposed engine of economic growth then ask when will our mkt top.
Today's stock market reminds me of the real estate market near it's peak (before crash). Prices have to go up to prevent a disaster and everybody knows that disaster is coming.
I prefer to make money then be right!
Shanghai SSE-A went down big today closing at 3007 and blasting straight through the important 3030 level.
The bear time is approaching fast.
why volume increases the latest hours of each day?
woohoo! hit the nitro ben and bring this baby to rest!
Previously mentioned EURO buying support has returned...
MARKET UPDATES:
http://www.zerohedge.com/forum/latest-market-outlook-0
I ask you...how can a market crash when it is not, in fact, a market? The DOW crashes when it best serves those for whom such a crash would create a profit. Referring to these institutions as 'markets' strikes me as erroneous. There is no crash, just as there is no boom. There are only a handful of powerful men, pulling strings and manipulating "markets"---and THEY decide what happens in the "free" market. It is financial colonialism. It is India, under the British. Hundreds of millions of Indians who maybe THOUGHT they had some manner of self-determination and free will, but always found out that, in fact, 100,000 Brits pulled all of the strings.