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POMO Closes: $4.7 Billion In New Apple Buy Orders
Today's POMO closed and it was a whopper, coming far higher than expected, at $4.690 billion. Oddly enough, this was a minute 3.2 Submitted to Accepted ratio, indicating that even with everyone and their grandmother buying the belly, very few are willing to still put it to the Fed, which simply means that most PDs are waiting for far higher prices at which to sell the Fed's fat back to it. Worse: the market seems to think that even $4.7 billion worth of free money leveraged 30 times is insufficient to get the S&P back to the green (although the day is still young - with volume starting to drop, here comes the HFT permabid scalpcrew).
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It's an ... A pomo nation .... hargh hargh hargh.
Here come the warm jets ...
Carry Pomo sings "Catch a falling knife and put it in your pocket"
http://www.youtube.com/watch?v=uBJipsTXe28
Straight up straight down, straight up straight down over and over and over.
Best trade on board: Buy Dec 10' AAPL $500 Calls
Spoke too soon about that green S&P, bud. How f'd up to have a massive POMO on OpEx day. Seriously. "Here, take a few billion and put the market wherever the heck makes you the most profits."
And another thing: that rat bastard Jamie can easily make his $4B at a lot less than a +180 bps debt issue by acting true to form, i.e., as a rat. He should take his POMO slice and sell the SPOOs in size. The resulting cascade would be a wonder to behold, and as the first defector he'd rake it in. Probably help his naked bullion shorts, too.
Is this your idea of a sick joke?!? WTF!?!!!!
Mandy's looking far more babe-alicious today than robo trans gender.
That's not funny. At all. Just lost a lot of respect for RobotTrader.
I don't know what was going through his mind when he posted this shit! A public apology is in order...repulsive to say the least!
AAPL may be setting up for the mother of all shorts either late today or Monday. They've priced in a lot of greatness there. Actually, perfection. If that doesn't happen on Monday's earnings report we could see a 10% haircut by Tuesday.
If that happens, goodbye Naz and a huge ouch for SPX. Will be exciting nonetheless.
Yes, but we have Monday's Pomo and they have earnings annoucement (I think after Monday's close)
I appreciate your objective view on how AAPL is priced to perfection. However, I think you (and I) are nieve in thinking the stock price is based upon the performance of AAPL. There are other factors working here.
I won't take credit for this but someone said it perfectly a few weeks ago here: Apple is officially TBTF.
And thus precisely why I question Apple's numbers. If Apple is Too Big To Fail, then its financials are To Important Not To Manipulate.
http://www.businessweek.com/bwdaily/dnflash/may2006/nf20060523_2210.htm?campaign_id=rss_daily
Intelligence Czar Can Waive SEC Rules
Now, the White House's top spymaster can cite national security to exempt businesses from reporting requirements.
President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye.
B, B, Buh, Bennie..
B, B, Buh, Bennie..
B, B, Buh, Bennie.. and the jeeeeEEeettss...
How much more before the FED surpasses China as #1 US debt holder? a week or two at most right?
How do you feel about a private company, whos shareholders are the handful of elite families of the world, Rockerfellers, Rothchilds, Morgans, et al holding America's debt and therefore can call in that debt and exchange it for hard assets (peoples hard labor, building, companies, etc).
Seems pretty f'ckd up to me. Same scam pulled off all over the world wherever a private central bank exists.
Sad how docile people have become, or may be they were always that way.
yep. agreed. this will not end well or peacefully. that is the only certainty.
Thank you Ben. Pump my Apple.. I love it
What I find interesting is the divergence of Apple and the NASDAQ just when the September pump started. Meaning the desperate pump of Apple to pump the NASDAQ has less and less effect. This 3 month chart shows it all.
Interesting. With AAPL 20% of the Naz can you imagine where we'd be if it weren't going up?
Keep your eyes on AAPL Monday AH. That's what's going to set the tone for the market. I think they have to be perfect to keep up the run. If not.....
Wait ... Harry told me it was a "perfect" correlation .... WTF?
You are confusing correlation with tracking error. They ARE perfectly correlated, as are the following return streams:
A = 0%, 1%, 2%, 4%
B = 0%, 2%, 8%, 24%
Correlation = 98%
They move in concert, simply in different proportions (i.e. one is linear, one is non-linear). But in a linear regression model, the pearson correlation coefficient is stil ~1. Now, switch A = Nasdaq, B = AAPL, voila...
You make me tingle when you talk like that. :>)
How long until they increase the weighting?
In September I had a discussion with a colleague on how Apple is almost worth as much as Exxon.
The conversation started with me saying: "You know how I know Apple is overvalued?"
I know its overvalued because there isn't a chance in Hell its worth as much as Exxon. He agreed with me despite his rather large position in Apple. He then decided not to invest in Apple from that point forward. Of course now I have to listen to his constant whining about how he "missed out on making more money from Apple Shares".
I know its overvalued because there isn't a chance in Hell its worth as much as Exxon.
Everything in the world depends upon oil. Take it away tomorrow and we're fucked. Phones are essential. Gadgets are not. Apple makes lots of gadgets. End of story.
Right on Harry! Gadgets are not necessary. I do not own a single apple anything, neither does my wife, any of our families. And I do not buy apple stock either.
Can't wait to see the whole apple thing come tumbling down.
Well had you owned APPL, you could own a shitload of Dell crap for free. I have apple stuff and they are not gadgets-Harry,Flip Flopper
I'm out before earnings, because they won't be able to beat previous earnings growth. It is a trade Geeez!
After 50 plus years of the same corporate message, meaning who you are is measured by what you own, why are we surprised when we discover the message has been successfully assimilated.
Example number one: Apple.
Bingo!
Apple is still perceived as a common good, this twofold: First the components that make up respective products use finite material such as rare earth minerals, metals, and plastics. Second, there is still a belief in te market and by the masses (chicken and egg) that apple is a valuable/viable product, and as people need it to do their "work", are await work, they need to be READY and own an iphone.
So two things can/have happen/happened: The price of the components increases, increasing apples price, increasing its worth, and 2) People realize that status is hype, apple products are used only functionally, and so less demand follows. This may happen when someone is broke, or realizes they will be broke soon. This is why we have seen a rising price up until now; many people have remained liquid by 1) Going into debt head over heels 2) Liquidating their other goods such as not paying their mortgage or selling their gold trinkets. When this other show drops, and Americans wake up to the fact that as a nation they have lost their purchasing power, look for apple to tread water. I am surprised it hasn't happened yet, but really, time is what it is. Truth is the same. I will double down on truth every time.
Mandy's clevage is quite exceptional today.
n
n
Thank You Bennie,
56% return in about 3 hours of options holding.
See you on Monday
"They" won't let this pig go down at any cost.
Check out the activity on the following pump it up stocks everytime the market trys to go south:
AAPL, AMZN, NFLX, BIDU and SPY.
Who the hell is buying these stocks at these prices???
Here is Benny and Timmys fav song..pum, pum, pump it up: http://www.youtube.com/watch?v=ySfwW_xSRU4
Anyone think the Banks might hold the Cash for the potential of Mortgage Buybacks?
Anyone also think that they would be lined up and shot if the Banks used the Money to Short Stocks.
if there was any threat that the banks would actually be on the hook for this foreclosure clusterfuck, their stocks would have nose dived by now. this pig will be dumped on the backs of US taxpayers in the form of TARP II.
we are fucked. no two ways around it.
there will be a congressional investigation, they'll find a scape goat, indemnify themselves and then lay it off on the tax payor. The guy on the street will get the bill and the fraternity will get the cash.
Just another holiday rerun.
And poor Erin Burnett is looking like an A- cup today...
LOL....
Only higher than expected to those who don't fully comprehend that the Fed could not allow a failure in the markets after the Bernanke speech. The market now requires, no demands, confirmation that QE 2 will be several Trillion Billion Bernanke Bazooka Bucks. Which means Helicopter Ben loses more and more ability to control the market with simply his "moral suasion".
As ever higher expectations for QE via IV are priced into stocks, what must Ben do to keep the markets from being disappointed? After Big Ben has endlessly talked about his sexual capabilities to all the ladies in town, how could he ever perform up to the lady's expectation?
The market is now showing that it no longer can be talked into ever higher erections. The foreplay is over. Time to show them the beef Ben.
"Where's the beef?"
http://www.youtube.com/watch?v=Ug75diEyiA0
i have a feeling that something appealing to mainstream tastes will not be terribly appealing to folks here. well this is the chance to put that to the test: a playlist inspired from my little sister's itunes. i present a grab bag of jam bands, hipster rock, sad songs, old songs and rap.
coisas da irmã (a playlist):
http://www.youtube.com/view_play_list?p=B66475A34C59B734
With fraudclosure present, more and more people will stop paying their mortgages. Retail Sales will spike like never before. Free iPads for the squatters.
Sorry to be the bearer of bad tidings, but oh, poop!
At this rate, the Fed will shortly hop from #2 to the #1 position as largest holder of treasuries. But that ain't no surprise now, is it?
But but but but.... if they keep a buyin' the stuff (forget the inane why, what, who effect, unintended consequences, et al) there's gonna be a shortage of the stuff for the rest of the world; central banks, widows and orphans (401k's, etc.), pension funds, endowments, even treasury tax and loan accounts (TT&L's).
Holy shit Batman!
At the time of unprecedented issuance, a shortage for the investment community. And yes, Tiny Tim, there shall be some very unsavory unintended consequences resulting from such an artificially imposed anomaly.
Always are.
And they're never, ever good.
for the more remedial readers of zerohedge like myself, can someone explain how the fed gets money into the market. I can't get my head aroun the mechanics of it?
Take the crash course
http://www.chrismartenson.com/crashcourse
Bernanke/Shirakawa ETF ticker (BS)
SOMEBODY FREAKING LOOK AT THE VOLUME OF ADOBE!
It just dopped near zero!
So is that a problem with ... Adobe Flash ?
Nop, today is expiration day on the options, and as there are 6 million shares short for october that need to be covered today, it could get exiting if ADBE would close over 28, let alone near 29 :)
Now I know what a POMO is, what's a TOMO?
Temporary Open Market Operations rather than Permanent.
POMO is the Woodie that lasts MUCH longer than 4 hours.
they blew the doors off in TOMOs for Oct.
AAPL was a prime beneficiary, but anyone notice AMZN???
Jusy why is this POMO money being so focused on certain stocks? Is someone getting a kick back here? So far the AMZN insiders have been selling like crazy...theyare the single biggest winners from this rip off.
Precious metals and mining stocks under pressure and just enough POMO money pumped into the big three tech stocks to keep the markets in the green (except for the DOW - no love in Banksterville today)...
Just sayin'.
GOLD updated chart showing parabolic move.
http://stockmarket618.wordpress.com
Really this is a great post from an expert and thank you very much for sharing this valuable information with us.
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