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PPT Stuck In Line To Purchase iTimberrrrr App For iPhone 4

Tyler Durden's picture




 

The sudden and dramatic absence of the Liberty 33 folks can only be explained by their realization that there's an app for market crashes. Alas, they have to wait in line like every other Steve Jobs fanatic. That's the only explanation one can come up with to explain why the market is plunging. Nothing else that makes sense: the economy is flourishing, Europe is hella strong, China is growing like a weed, the Baltic Dry is going to the moon, there are 5 jobs for every American, US debt is negative, one month T Bills are not negative. In other news, 1,040 taken out. 865 next stop.

 

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Wed, 06/30/2010 - 15:53 | 444841 SignsAndWonders
SignsAndWonders's picture

maybe they already have the app but are just holding the phone wrong?

Wed, 06/30/2010 - 16:06 | 444897 Sisyphus
Sisyphus's picture

ROTFL

Wed, 06/30/2010 - 16:13 | 444929 VegasBD
VegasBD's picture

Nice! Hahhahaha

Wed, 06/30/2010 - 16:21 | 444956 Assetman
Assetman's picture

I'm thinking the HFT autobots have put their well used iPod app in reverse.

What's the opposite of "stick save"????

Wed, 06/30/2010 - 16:33 | 445002 fuu
fuu's picture

A goal.

Wed, 06/30/2010 - 16:37 | 445017 Assetman
Assetman's picture

And dogpile.

Wed, 06/30/2010 - 16:53 | 445057 Don Smith
Don Smith's picture

I'm pretty sure the opposite of the stick save is known as the "Robert Green", formerly known as the "Bill Buckner".

Wed, 06/30/2010 - 19:36 | 445419 Hdawg
Hdawg's picture

LMFHO!!!

Wed, 06/30/2010 - 23:18 | 445733 Assetman
Assetman's picture

LOL!  That was pretty good, Mr. Smith!

Wed, 06/30/2010 - 16:34 | 445007 jkruffin
jkruffin's picture

That app only works on the I-pad, sorry for the confusion.

Wed, 06/30/2010 - 22:59 | 445570 Rusty Shorts
Rusty Shorts's picture

-

Wed, 06/30/2010 - 15:53 | 444842 traderjoe
traderjoe's picture

Just wait until the BLS can't even manufacture positive private job growth on Friday. State and locals are a slow motion train wreck...and BB looked positively stricken when meeting with the Teleprompter yesterday. 

Wed, 06/30/2010 - 16:31 | 444997 RichardP
RichardP's picture

So the Dow will be back around 10,000 at the close on Friday then?

I think the PPT is standing in line for the premiere of Eclipse today.  They will be back tomorrow.  Unless they really like the movie and go to see it again.

 

Wed, 06/30/2010 - 16:41 | 445027 MarketTruth
MarketTruth's picture

My guess, BLS aside, is that they need to paint 'panic' to get QE2 going for the UK/EU/USA. As such, they need another financial flag event to then scare congress and the EU/UK to do a synchronized QE so all currencies devalue at the same time. Simple as that actually imho of course.

Then again i do not have a PHD in economincs Ben Shalom Bernanke & Cie. ;->

Wed, 06/30/2010 - 15:53 | 444843 Overleveraged_a...
Overleveraged_and_Impatient's picture

Yeah everyone knew it, just nobody knew WHEN..

Wed, 06/30/2010 - 16:03 | 444888 Muir
Muir's picture

Don't be so honest Overleveraged.

 

_

Komarovski: There are two kinds of men and only two. And that young man is one kind. He is high-minded. He is pure. He's the kind of man the world pretends to look up to, and in fact despises. He is the kind of man who breeds unhappiness, particularly in women. Do you understand?

 

__

Wed, 06/30/2010 - 16:08 | 444909 Cursive
Cursive's picture

Rod Steiger was excellent as Komarovski.  And Jule Christie....everytime I hear Laura's Song....

Wed, 06/30/2010 - 16:53 | 445059 barkingbill
barkingbill's picture

komarovski just wanted in her pants. 

Wed, 06/30/2010 - 18:42 | 445313 Fred Hayek
Fred Hayek's picture

Everyone wanted in Julie Christie's pants.

Wed, 06/30/2010 - 16:58 | 445076 duo
duo's picture

Gromyiko:  This is the last half of the last cigar in all of Moscow.

Wed, 06/30/2010 - 16:44 | 445035 MrTrader
MrTrader's picture

Hum, 95 % of ZH readers KNOW EXACTLY WHEN. That´s why the site exists only of multi millionaires...hum PAPER millionairs not GOLD millionaires...let me rethink, in Tyler Durden langauge : toilet paper trillionaires. Sorry for the confusion...:=)

Wed, 06/30/2010 - 15:54 | 444844 Adam Selene
Adam Selene's picture

Looks like the robots all went off line about 3:10.  Can somebody reboot the servers before it's too late to hold the SPX to the required level?  This absolutely will not do.

Wed, 06/30/2010 - 17:00 | 445084 Rusty_Shackleford
Rusty_Shackleford's picture

"Jiggle the cord, Ben!!!"

Wed, 06/30/2010 - 15:54 | 444846 Mactheknife
Mactheknife's picture

Correctomundo!  SDS Bitchezs!

Wed, 06/30/2010 - 15:54 | 444847 DosZap
DosZap's picture

 "Europe is hella strong"...................only Germany is Smokin'!!!!!!.

And they are the object of hate, by all their SO called Pardners'.

Wed, 06/30/2010 - 19:23 | 445396 Crisismode
Crisismode's picture

But then again, Germany has been beloved by its Euro pardners throughout history, no? I mean, what have they done to antagonize any of their Euro siblings over the last 1000 years?

Wed, 06/30/2010 - 15:54 | 444849 The Franchise
The Franchise's picture

Never too late to the party though, here comes the PPT.

Wed, 06/30/2010 - 15:55 | 444851 Turd Ferguson
Turd Ferguson's picture

25% chance that this is a tremendous fake out and the rally re-commences tomorrow.

75% chance that we are headed directly to 860.

However, with only 6 minutes to go, it does look like closing above 1083 is out of the question.

Wed, 06/30/2010 - 16:12 | 444926 AndItsGone
AndItsGone's picture

Oh, GS. They only missed their end-of-H1 SPX target by 277 points. Go easy on 'em.

Wed, 06/30/2010 - 16:13 | 444930 AlienTrader
AlienTrader's picture

It's hard to think the PPT just gave up now and accepted defeat. I expect several meltups that will cross 1040 again. What it would be more unbelievable is that GS finally got it right on the market.

Wed, 06/30/2010 - 16:23 | 444970 still kicking
still kicking's picture

I'm in the 25% camp, this just feels like a big big set up.  Time to suck everyone in one last time.

Wed, 06/30/2010 - 15:54 | 444852 Muir
Muir's picture

Harvey 'Big Daddy' Pollitt: There ain't nuthin' more powerful than the smell of mendacity!

Wed, 06/30/2010 - 15:56 | 444855 Zina
Zina's picture

Cheering against the PPT in the last five minutes of the quarter is more exciting than cheering against Argentina in the last five minutes of the match.

Wed, 06/30/2010 - 17:13 | 445117 Slash
Slash's picture

word. this is really exciting/fun to watch!

Wed, 06/30/2010 - 15:57 | 444856 AR15AU
AR15AU's picture

Inverted stick save!

Wed, 06/30/2010 - 15:58 | 444862 Young
Young's picture

No, I got it now... PPT is actually run by jobless people who are actually between 18 and 25, and now that they've noticed that their antennas in their new debt bought iphones are broken they have resorted to selling themselves in order to pay for the repairs. Unfortunately no one will buy their sexual services since they're all so damn fat/obese/ugly because of their slacker parents who couldn't show them any discipline with either finance or food growing up. Welcome to America, welcome to the west. Idiots in all ages. I'm gonna kill myself now! Damn, out of shells for the twelve gauge! Plan B. Moving to China...

Wed, 06/30/2010 - 16:00 | 444869 barkingbill
barkingbill's picture

i told you guys the dead cat bounced so many times, he started to fall apart. it was a mess. they need a new cat

Wed, 06/30/2010 - 16:07 | 444902 cougar_w
cougar_w's picture

Sorry, I'm booked. Maybe next crisis. Stay in touch.

Wed, 06/30/2010 - 16:18 | 444950 barkingbill
barkingbill's picture

wise move :-)

Wed, 06/30/2010 - 16:49 | 445050 Cognitive Dissonance
Cognitive Dissonance's picture

They're using cougar to mop up the oil "spill" one cat at a time. Dip, soak, squeeze, repeat. It's gonna be a long hot summer in the Gulf, both for the residents and cougar.

There's gotta be a better gig than that cougar. :>)

Wed, 06/30/2010 - 17:05 | 445099 glenlloyd
glenlloyd's picture

They'd be better off with 600 gross of shamWOWs

Wed, 06/30/2010 - 17:06 | 445101 cougar_w
cougar_w's picture

I'm set actually. Touring with Lady Gaga next month, just down GoM way working on my tan. I'm on the beach, and next thing you know I'm attached to a pole and they're mopping up oil with me. I figure, I bet this one of those reality shows I walked into, you know where they fake all kinds of crazy stuff. I'll be famous. But I haven't figured out yet how to get all this oil off me. The Lady Gaga production crew will stick sequines all over me if I show up sticky. I hated the last time they did that; everyone thought I was a gay Republican but I'm not, I'm a predator damn it.

Wed, 06/30/2010 - 16:00 | 444870 Oso
Oso's picture

not gonna happen, QE 2.0 of 3 tril will happen.  Obama is stupid, but he isnt dumb, he knows consumer confidence is tied 1:1 with the market.  Bernanke is many times stupider, so guaranteed something happens.

 

Im as bearish as they come, but Im not getting shorter into this.

Wed, 06/30/2010 - 16:07 | 444906 Al Huxley
Al Huxley's picture

I think what we're seeing now, though, is what happens when the marginal return on debt drops below 0.  So now all that new debt doesn't generate GDP (dubious as that measure is for evaluating the state of the economy) it actually reduces it.  There's no saving this now.

Wed, 06/30/2010 - 16:24 | 444971 mikla
mikla's picture

+1 SUPER DUPER HAPPY MAJOR PLUS ONE FOR YOU.

Every dollar spent now reduces GDP by ten cents.

Yeah, right, spend away, and watch your GDP drop like a ROCK.

Wed, 06/30/2010 - 16:12 | 444924 First There Is ...
First There Is A Mountain's picture

Even RAMMING through QE 2.0 will take some doing . . . and time. Keynesian clowns are being shouted down pretty openly now. Not so sure a few sane voices won't simply admit we need to take our medicine, clean up those balance sheets, etc. TBTF in question?

Wed, 06/30/2010 - 16:30 | 444995 cougar_w
cougar_w's picture

They could do QE2 on the sly, call it national security, and tell 3 people in Congress.

They might have started about 60 days ago.

It is already too late; QE1 was too small by half for the intended purpose (not saying I agreed with the purpose).

Now QE2 will just make the skid marks a bit longer and the smell of burning rubber a bit heavier in the air.

Because this bitch is locked up and aiming now to skid off the road.

Wed, 06/30/2010 - 16:39 | 445025 jkruffin
jkruffin's picture

Like I said the other day, any stimulus had better go to the people this time, or there will be blood riots in the streets of major cities.  The people are not going to stand for it this time, knowing what happened last time.  Blankfein and Dimon might wanna go underground for a while.  Write your lawmakers folks, and demand any future stimulus goes to the people in their pockets to boost the economy or else.  They tried it their lame way and it didn't work. Now try a bloggers way.  We aren't as stupid as the FED thinks.

Wed, 06/30/2010 - 17:31 | 445150 Cyan Lite
Cyan Lite's picture

I don't think "the people" even know what QE is or care.  Ask 10 people in your local Wal-Mart what they felt about the QE 1.0 and most will think you're talking about a movie or something.

Wed, 06/30/2010 - 18:36 | 445300 DosZap
DosZap's picture

Cyan,

Your correct sir, 95% do not, but..put Benjamins in their mailboxes, NOT jus $500.00-$1000.00,but a few grand, and it WILL be spent by 90%............and not on their debt reductions.

Wed, 06/30/2010 - 18:38 | 445304 Jendrzejczyk
Jendrzejczyk's picture

"I thank itsa big boat er sumthin frum Angland"

Wed, 06/30/2010 - 16:00 | 444871 The Franchise
The Franchise's picture

I can't wait for Leo's coming entry about how the technical destruction of these markets "is not as bad as you think"....

Wed, 06/30/2010 - 16:02 | 444880 carbonmutant
carbonmutant's picture

Well, somewhere down here is a buying opportunity...

Wed, 06/30/2010 - 16:38 | 445020 taraxias
taraxias's picture

"the recovery is taking hold", don't ya know?

 

 

Wed, 06/30/2010 - 16:00 | 444874 tmosley
tmosley's picture

NO!!!  You're holding it wrong, you idiots!  You'll never get any signal!  Oh God, the market is crashing, and my latte isn't ready yet!  Ohhhhhh, what do I do?

Wed, 06/30/2010 - 16:24 | 444889 Young
Young's picture

Well. Since you got fired from your job for spending to much time in the shitter playing iCrackSlacker you do what any other reasonable american would do, get a(nother) loan, or if you have a house, another mortgage...

Wed, 06/30/2010 - 16:01 | 444875 carbonmutant
carbonmutant's picture

 This must reflect some sort of disagreement within the current administration...

Wed, 06/30/2010 - 16:01 | 444876 lizzy36
lizzy36's picture

forget to mention GS....fresh 52 week low.

Wed, 06/30/2010 - 16:05 | 444892 Mactheknife
Mactheknife's picture

Have been short SHLD since 115, 64 and change today. Sweet.

Wed, 06/30/2010 - 16:02 | 444881 turds in the pu...
turds in the punchbowl's picture

hella

Wed, 06/30/2010 - 16:09 | 444883 barkingbill
barkingbill's picture

she's gone. there she blows. the gates opened. the rusted metal yawning as it sways pointing in the direction of the abyss...

Wed, 06/30/2010 - 16:03 | 444885 Zina
Zina's picture

GOOOOOOOOOOOLLLLLLLL!!!!!!!!

Goodbye right shoulder!

Wed, 06/30/2010 - 16:18 | 444952 Cognitive Dissonance
Cognitive Dissonance's picture

And a completely convincing capitulation no less. This will get the boards popping tonight as everyone starts singing collapse. I'm holding some powder dry until I see a little more selling and then a pop up to test the former support, which is now resistance.

Wed, 06/30/2010 - 16:37 | 445014 cougar_w
cougar_w's picture

You and I both know they will lose this fight eventually. I think that when they do the whole thing catches fire and burns down in a matter of hours as the HFT bots grind each other into dust trying to skim an extra few mill on the way down, flash crash x5 with an extra kick of WTF just happened and a bit of OMFG on the side, served on a bed of sprouts with a light Chianti.

I don't imagine you'll have a chance to set that powder off. But best of luck.

Wed, 06/30/2010 - 18:20 | 445071 Cognitive Dissonance
Cognitive Dissonance's picture

Cougar,

I'm not concerned with getting my remaining (short) powder deployed. The market isn't collapsing tomorrow and I'll be fully deployed in a week or less. I'm concerned with getting the powder returned after it has done it's magic. I suspect they will cancel many trades and reset the market higher if there is any serious selling, even if there is no flash crash. National security and all.

In addition, a lot of short ETF's and (Inverse) Rydex mutual funds are actually complex derivatives with counter parties. I've read the prospectus very carefully (gotta do something with my down time :>)) and they specifically talk about ETF and Rydex mutual fund failures due to counter party risk.

Everyone needs to be aware of this. Everyone needs to read those short ETF and Inverse MF prospectus carefully and consider the risk. It might not pay to ride this baby all the way down because you might end up with a non-paying counter party.

 

Wed, 06/30/2010 - 20:49 | 445539 New_Meat
New_Meat's picture

CD and all, were there many trades that got busted after 5/6?  I heard the possibility, but no gnashing of teeth that I'd expected to hear about.  Thanks,

- Ned

Wed, 06/30/2010 - 21:36 | 445592 Cognitive Dissonance
Cognitive Dissonance's picture

236 stocks and ETF's were busted. Not sure if this is the final list. I know they added some over the following 48 hours. I don't remember to total dollar amount but it was in the 10's of millions of dollars. I had a few of my clients trades that were busted.

http://media.globenewswire.com/cache/6948/file/8216.pdf

Wed, 06/30/2010 - 16:03 | 444886 John McCloy
John McCloy's picture

The markets are down because they want it down to ensure finreg is passed without any changes or QE2 comes swiftly.
I would like to know how the big banks communicate with each other and where the SEC is on deciphering how they pass messages to one another when collectively determining market direction.

Also can we investigate Paul (Bankster) Kanjorski as to where he receied his Dow 2000 information when deciding to act like a mouth piece regarding threats.

Wed, 06/30/2010 - 16:05 | 444893 Muir
Muir's picture

"The markets are down because they want it down to ensure finreg is passed without any changes or QE2 comes swiftly."

 

They ain't that intelligent.

Wed, 06/30/2010 - 16:09 | 444916 Al Huxley
Al Huxley's picture

The markets are down because there are no buyers anymore.

Wed, 06/30/2010 - 16:17 | 444945 Cheeky Bastard
Cheeky Bastard's picture

What Muir said.

Wed, 06/30/2010 - 16:46 | 445041 Thoreau
Thoreau's picture

But I wouldn't short the house just yet.

Wed, 06/30/2010 - 20:23 | 445498 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Exactly.  Watch tomorrow and then decide what to do.  And by the way, tomorrow just started.

Wed, 06/30/2010 - 18:18 | 445261 TheGoodDoctor
TheGoodDoctor's picture

What about the wiretapping? Can't we just wiretap them to death?

Wed, 06/30/2010 - 16:04 | 444890 plocequ1
plocequ1's picture

Tyler, my advice is to post your negative news at 3:58. Alot can happen in an hour and 10 minutes.

Wed, 06/30/2010 - 16:05 | 444894 DeweyLeon
DeweyLeon's picture

All this whipsaw activity, It's like the market has epilepsy.  Thank goodness it's all based on solid fundamentals or one might be led to believe this thing is rigged.

Wed, 06/30/2010 - 16:10 | 444918 Cursive
Cursive's picture

Yes.  And thank goodness that Leo Kolivakis has told us how solid those fundamentals are.  This is an excellent buying opportunity for Chinese solars.

Wed, 06/30/2010 - 16:23 | 444968 firstdivision
firstdivision's picture

Cha1-kn33z sol3rz 4evaz!!! Bai-bai-bai dose dripz!!

Wed, 06/30/2010 - 16:06 | 444896 Cognitive Dissonance
Cognitive Dissonance's picture

Since the PPT has demonstrated repeatedly that they can levitate the market at any time under most any conditions, the fact that they aren't doing so now means they don't wish to do so....now. Thus this can be considered a manufactured crash.

I won't hazard to guess why. But when someone/thing has been doing something for over a year and then suddenly doesn't, there's a reason behind the sudden absence. Their deliberate removal of support means they want the market to go lower.

Wed, 06/30/2010 - 16:15 | 444939 doggis
doggis's picture

I fully agree Cog. i have 2 theories. 1) they intend for a route of the democrats in the fall so they want the market to crash before november elections, and/or 2) they are choosing a controlled deflation vs hyperinflating. why would the oligarchs want the purchasing power of their 'hard earned' (cough!) money be destroyed. of the two evils, debt reversion to mean makes more sense as it keeps the power of money and control in their hands. hyperinflating just blows everybody up..... huh? comments? anybody.

Wed, 06/30/2010 - 16:44 | 445036 cougar_w
cougar_w's picture

While they can control the up, they cannot control the down nearly as easily. Nobody wants a down day so they won for a while, but pretty soon individual and sovereign interests will win out and the ups and the downs will have new meanings to the playerz. It will like water go to it's own level because there will be money in it.

It is worth remembering that while the last one out turns off the lights, the first one out takes the tip jar. And just maybe the first one out gets to setup the next game. We haven't been in this position since the fall of Rome.

Wed, 06/30/2010 - 16:48 | 445054 Thoreau
Thoreau's picture

Junkies know how to balance their uppers and downers, however overt it may appear.

Wed, 06/30/2010 - 16:55 | 445066 cougar_w
cougar_w's picture

Fine.

But what if a bunch of junkies are managing each other's uppers and downers?

And what if some of them are set to inherit from each other in the event of death?

And what if each thought they were the only one knew what they were doing?

And actually, they don't even like one another?

Now I think your reference is applicable to the world stage and the crisis we now face.

Wed, 06/30/2010 - 16:48 | 445052 Running on Empty
Running on Empty's picture

BINGO !!!!!! Hyperinflation serves no one but the Gold horders and you

know how much their loved.

Wed, 06/30/2010 - 16:54 | 445064 Adam Selene
Adam Selene's picture

Perhaps they would like whatever money might be left in the market to "flee to safety in Treasuries?" Could that be it?

Wed, 06/30/2010 - 16:15 | 444941 Joe Shmoe
Joe Shmoe's picture

Interesting point.  The cynical conspiracists among us might say that, with the pols taking a break on finreg reform until after the 4th, they need to be properly versed in the damage that can/will occur if they don't play ball (when they return from their 4th of July parties, still stuffed full with burgers, dogs, & beer, their ears still ringin from illegal fireworks).

But then that's just cynical.

Wed, 06/30/2010 - 16:17 | 444946 SRV - ES339
SRV - ES339's picture

+1 CD... I'm in the Fin Reg camp.

Wed, 06/30/2010 - 16:17 | 444947 Rotwang
Rotwang's picture

Reminds me of hiding in the weeds by the side of the road. The glittering coin/wallet attached to a string. Pulling, and looking into the eyes of the stoopers.

Only played for looks then.

Wed, 06/30/2010 - 16:22 | 444964 Rick64
Rick64's picture

Fully agree, if you watch the charts all day long everyday you can tell they are manipulating it (trading the ES). Is it maybe because the want to scare investors into treasuries, after all a failed bond auction would be catastrophic.

Wed, 06/30/2010 - 16:36 | 445009 Noah Vail
Noah Vail's picture

You assume those clowns can even agree on the time of day. Considering as how they ALL went bust at once, I suppose that was a conspiricy to consolidate power?

Blankmind doesn't even know how half of his firm operates.

The intelligence of banksters extends only so far as to buy off the DC rats.

Wed, 06/30/2010 - 17:04 | 445096 Cognitive Dissonance
Cognitive Dissonance's picture

Noah

I do appreciate your point. And I've never considered the people "at the top" supposedly running a company to actually have much of anything to do with the day to day operations nor the implementation of long term strategy. The inner sanctum composed of the second and third levels of management from the top down is where the brains lay in most corporations and governments. This is where I look for the bad actors.

Behind every successful CEO are the second and third level managers that are running the show.

Wed, 06/30/2010 - 16:07 | 444900 You Cant Handle...
You Cant Handle the Truth's picture

Where'd I put my DOW 9700 hat?

Wed, 06/30/2010 - 16:10 | 444917 Adam Selene
Adam Selene's picture

Time to get a new hat.

- bullwinkle

Wed, 06/30/2010 - 16:09 | 444901 NumberNone
NumberNone's picture

When I think of the PPT abandoning the market today....why do I picture the scene in Titanic where the musicians are playing, stop, then pat each other on the back and say goodbye just as they see the wall of water about to drown them? 

Wed, 06/30/2010 - 16:07 | 444903 jesusfreakinco
jesusfreakinco's picture

Short SSO...  :)

Wed, 06/30/2010 - 16:08 | 444907 depression
depression's picture

Just waiting for the teleprompter to say a few soothing words from the front lawn...

"We have seen some very positive trends in a number of sectors," Obama said at the White House after a meeting with US Federal Reserve chairman Ben Bernanke.

Wed, 06/30/2010 - 16:27 | 444982 Assetman
Assetman's picture

Why can't Obama suggest to us that market valuations are too high, the same way he suggest that market valuations were low in March 2009?

At least the Japanese government told their people when they were manipulating their equity markets. :(

Wed, 06/30/2010 - 16:08 | 444910 JR
JR's picture

Tyler Durden, that's some writin'!

Wed, 06/30/2010 - 16:10 | 444915 chancee
chancee's picture

Oh no... they were there... around 3:45 they came in, but couldn't do much in the face of all the selling.

Wed, 06/30/2010 - 16:11 | 444922 Joe Shmoe
Joe Shmoe's picture

It's kind of like when Darth Vader finally died, I felt sorry for the ol' lug, in spite of it all.  Know what I mean? 

Wed, 06/30/2010 - 20:01 | 445453 Miss Expectations
Miss Expectations's picture

He didn't die...Check this out:

http://www.youtube.com/watch?v=l1EbSoiNh_Q

Wed, 06/30/2010 - 16:18 | 444923 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Back at the clubhouse, 3:30 EST....

"BS, I'm tired.  You make the call.  I'm gonna take a nap."  LawWrench finished his coke [buuurp] and threw the can towards the trash as he walked out the door; he missed.  "Pick it up Timmah."  Timmah scowled and ignored him.  "Timmah come here."  Said BS.  As he got up out of his seat, he accidentally kicked his chair down, but didn't notice.  Bawknee set it back upright.  BS put his arm around him as he spoke.  "Timmah, I want you to get on the Nintendo; Lord is going to sell into the market in mass, and I want you to buy everything he does.  You understand?"  "Timmah!"  He replied.  "I don't need to tell you, but remember to keep..."  He choked..."metals....keep them in line.  We want the market to stay within range; we want to keep our options open for tomorrow."  "Timmah."  Timmah acknowledged.  Timmah grabbed the  controller and unpaused the game.  BS headed outside.

"Bawknee, come have a smoke with me on the swing."  BS poured himself another drink.  "I wood be dewighted two!"

Wed, 06/30/2010 - 16:12 | 444925 LoneStarHog
LoneStarHog's picture

Breaking News: Headlines only...SEC/PPT Announcing Market Closes Adjusted:  S&P 1083 .. DOW 9800

Wed, 06/30/2010 - 16:14 | 444935 Fazzie
Fazzie's picture

 Not like the PPT didnt try. Huge stick save attempt backfired because the algos fired it off too soon and the bulls knew it was the last chance to unload within stick save territory  for awhile.

 

  Now its up to the futures and currency manipulation team to save the day.

Wed, 06/30/2010 - 16:16 | 444938 gigeze787
gigeze787's picture

Why no PPT-induced rescue of SPX 1040?

The Fed and Treasury, along with their bank (JPM), C) and pseudo-bank (GS, MS) factotums, want FinReg passed by the lazy, feckless, corrupt Congress.

Today's drubbing was simply BB's/LS'/TG's way of saying F-U to Sen Reid, who is dragging his heels. (Strong message to follow if the poodles on Capitol Hill don't roll over soon.)

 

Wed, 06/30/2010 - 16:43 | 445032 MarketTruth
MarketTruth's picture

The need QE2, so must paint the tape with panic.

Wed, 06/30/2010 - 17:26 | 445103 John McCloy
John McCloy's picture

Yup. Wall Street just telling the Pres. "listen bud we need unemployment checks back in these sheeps pockets , make sure to bring back the tax credit, hustle up with that 300 Billion in stimulus, be sure to leave the Fin Reg as is and get those votes bought over the weekend and we need QE2 and time to get on the phone to Europe to get some trillion dollar bailouts lined up"

After that we will bring the markets up.Either that or Martial Law bitches.

Wed, 06/30/2010 - 18:31 | 445290 ozziindaus
ozziindaus's picture

No way the markets are going back to their recent nominal highs any time soon. The social mood has swung too far to trust the financial industry or politicians. 

Quickly. Grab this before they archive it. 

Conversations With Bob Prechter on the End Game

http://www.financialsense.com/fsn/main.php

Wed, 06/30/2010 - 16:15 | 444940 Milestones
Milestones's picture

C/D, besides being a great writer and long term thinker, ya have probably played a hand or two of poker.  Milestones

Wed, 06/30/2010 - 16:15 | 444942 Temporalist
Temporalist's picture

I am looking for a link but didn't Alan Greenspan say just a month or so ago that the markets will be fine?

I think he was hinting that if they aren't...everything will collapse.

Wed, 06/30/2010 - 16:20 | 444955 hutrader
hutrader's picture

what the hell is PPT??? my dumb-ass missed that one

Wed, 06/30/2010 - 16:38 | 445023 RichardP
RichardP's picture

Search ZH on "Plunge Protection Team".  You'll find lots to read.

 

Wed, 06/30/2010 - 16:45 | 445038 Dr. No
Dr. No's picture

"what the hell is PPT??? "

 

So you are the guy!!  I heard you have been living under a rock for the last 3 years.... didnt believe it myself...

 

Wed, 06/30/2010 - 17:04 | 445092 hutrader
hutrader's picture

haha I know right. thanks for the info ZH...ahh just one more gang to "take care of things" eh??? sounds like a great idea...as does the idea of regulators to regulate the regulators which our latest regulation bill calls financial reform.

It's such a joke...Reagan created the PPT, our "reps" (excuse me) are all lovin' the current reform bill, they all took out glass-steagall, etc., etc., etc.

If you still subscribe to repub versus dem and actually THINK they're oppositional you're only contributing to this giant mess...ummm can anyone say (let alone spell) divide and conquer???

Wed, 06/30/2010 - 17:24 | 445141 MarketTruth
MarketTruth's picture

No worries on the PPT thing as we all needed to learn at some point. You'll now learn (though odds are you already know) many acronyms like MOPE, RE, CRE, POTUS, FUBAR, J6P, FIAT, UE, M3, U-6, etc. Welcome to ZH, pull up a chair at the ZH bar and grab a free drink and cigar on me.

REMEMBER:
Tyler Durden: Man, I see in fight club the strongest and smartest men who've ever lived. I see all this potential, and I see squandering. God damn it, an entire generation pumping gas, waiting tables; slaves with white collars. Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need. We're the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War's a spiritual war... our Great Depression is our lives. We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars. But we won't. And we're slowly learning that fact. And we're very, very pissed off.

Wed, 06/30/2010 - 17:45 | 445181 AccreditedEYE
AccreditedEYE's picture

+1MM  awesome.

Wed, 06/30/2010 - 17:48 | 445190 Pez
Pez's picture

Dr No. He's just a stupid policeman.

Wed, 06/30/2010 - 16:21 | 444959 Gully Foyle
Gully Foyle's picture

Sam Lowry: Excuse me, Dawson, can you put me through to Mr. Helpmann's office?
Dawson: I'm afraid I can't sir. You have to go through the proper channels.
Sam Lowry: And you can't tell me what the proper channels are, because that's classified information?
Dawson: I'm glad to see the Ministry's continuing its tradition of recruiting the brightest and best, sir.
Sam Lowry: Thank you, Dawson.

Wed, 06/30/2010 - 16:22 | 444962 Running on Empty
Running on Empty's picture

The people in charge of not letting this happen. PPT Plunge Protection Team

Wed, 06/30/2010 - 16:23 | 444966 MGA_1
MGA_1's picture

Somebody kicked the cord to the GS servers ?

Wed, 06/30/2010 - 16:23 | 444967 Pinefox
Pinefox's picture

Maybe somebody leaked the Friday jobs #, possible explanation for the late day sell off.

Wed, 06/30/2010 - 16:24 | 444976 doggis
doggis's picture

look at the monthly charts for the S&P going back to 1982. by the time we reach the 860-840 range for this h&S, we will be at the neckline of a massive h&s going back to the mid '90's. if we break that neckline - it is s&p 200-100 range. now that is some downside sh*t!

Wed, 06/30/2010 - 16:25 | 444977 plocequ1
plocequ1's picture

Sorry Tyler, didn't realize the markets were sliding into the abyss. I am very happy today. Sorry to question your expertese. I bow to you. I'm not worthy. I'm not worthy.

Wed, 06/30/2010 - 16:35 | 445006 M4570D0N
M4570D0N's picture

Will we necessarily need to see a strong follow through tomorrow for confirmation before the the base jump to 860 fun begins?

Friday should be interesting. Consensus for the headline payroll number is -100,000, but since that includes ~ -250,000 census workers, the actually number would be +150,000(ex. census). Still extremely weak, but I havent decided how it will be reported or how the market will react. I wouldnt be surprised if most of the talking heads were not aware that you have to add the loss from temp census workers back into the headline number to get the actual payroll number that doesnt include the impact from census jobs.

Wed, 06/30/2010 - 17:16 | 445122 KTV Escort
KTV Escort's picture

great avatar!

Wed, 06/30/2010 - 20:20 | 445493 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Support will break tomorrow unless gold and silver move higher than than 2%.  Shouldn't be a big deal with silver, it has traded there recently.  Gold at $1288 per OZ on the other hand is a dead give away.  Thursdays are fantastic...pass the popcorn!

Wed, 06/30/2010 - 16:36 | 445013 docj
docj's picture


iTimberrrrr

Weapons-grade funny, that.

Wed, 06/30/2010 - 16:53 | 445060 Josey Wales
Josey Wales's picture

Perhaps this is ploy to get some fresh shorts into the action...then pull a huge rally, bust up the shorts, teach them the lesson that the house is always right.  You have to play along to get along with this cartel at the helm.

Wed, 06/30/2010 - 16:55 | 445065 Borat
Borat's picture

Just wait for the bounce tomorrow morning after the indicators are released....

Wed, 06/30/2010 - 16:57 | 445070 barkingbill
barkingbill's picture

marc faber said if the bulls are to have any chance, 1044 must hold. he said 1044. 1040 broke....i hear another guy say it has to last 24 hours. but i think this is all just denial. it could bounce back up, but why? on what good news? hasn't everybody lost their patience with it? i feel the negativity is extreme....it needs a release. 

Wed, 06/30/2010 - 17:03 | 445091 unununium
unununium's picture

Maybe that's just what they want you to think.

Thu, 07/01/2010 - 03:17 | 445900 barkingbill
barkingbill's picture

why would they want me to think things would crash? they cant have a rally without followers..

Wed, 06/30/2010 - 17:04 | 445093 Pez
Pez's picture

Word heard on the street' "It's Godzillla! Run for your lives!"

Wed, 06/30/2010 - 17:10 | 445112 Pez
Pez's picture

Isn't the finreg bill on hold? Wish Koppel was alive for this one, "Wall St held hostage...day 1!"

Wed, 06/30/2010 - 19:21 | 445393 RichardP
RichardP's picture

Ted Koppel's son died recently.  Ted Koppel is still alive.

http://news.bbc.co.uk/2/hi/americas/8757462.stm

Wed, 06/30/2010 - 17:16 | 445123 Arkadaba
Arkadaba's picture

I think the willing suspension of disbelief that has been in vogue for the past couple of years has just been suspended.

Wed, 06/30/2010 - 17:51 | 445197 Arkadaba
Arkadaba's picture

And I had to look up where the phrase "willing suspension of disbelief" originated (just because.) I thought it was Shakespeare but I was wrong. Turns out the phrase originated with Coleridge, who authored the poem Kubla Khan after an opium induced dream (seems kind of apropos):

 

In Xanadu did Kubla Khan

A stately pleasure-dome decree :

Where Alph, the sacred river, ran

Through caverns measureless to man

Down to a sunless sea.

....

 

Wed, 06/30/2010 - 17:36 | 445165 Cyan Lite
Cyan Lite's picture

I'm 80% in "cash" in my 401k, and I tell you I'm shaking in my boots worried about the other 20%.  I still keep 20% in mid-/small-caps because I feel this may just be one huge fakeout that can take us to 1375 on the S&P.  Everybody's watching the 1040 level.  Heck, my grandmother called me about 1040 when it broke this afternoon.

Just take a chill pill and let's see how it plays out.  I'm NOT buying puts in my spec account though. 

Wed, 06/30/2010 - 18:52 | 445340 JenkinsLane
JenkinsLane's picture

1375? - no chance

Wed, 06/30/2010 - 20:08 | 445468 Advoc8tr
Advoc8tr's picture

Now that's a "Willing Suspense of Disbelief"  Leverage the 20% spec money on Index short positions and you might just recover the 80% in your 401K that the gov has their eyes on for mandatory long term treasury bonds.....which  will then be prompty inflated away to zero.

How can you trust anybody other than yourself to 'look after'  your life savings at this point?  Under the mattress would be far better in this environment.

Wed, 06/30/2010 - 19:27 | 445402 long_and_short
long_and_short's picture

QE2 is coming, no doubt, but not yet.  It is not politically feasible at this time, when the world of hurt (yes it will get worse) falls upon the unwashed masses they will beg for it, and is when the printing presses go full bore.

We arent there yet, but the people will be beggging to get out of the shit hole their in.  The pain is being felt, but not by enough people yet.  Afterall, employment benefits have been extended, food stamps are being used, people still watching "how the lottery changed my life" etc.

that is when the equity markets get sacraficed and the citizenry buys their own bonds a la japan.  and the investor will say " I dont care if I get 3% on 30 years at least my money is guaranteed."

Wed, 06/30/2010 - 20:02 | 445455 newstreet
newstreet's picture

Where's Robot Trader these days?

We have not heard from him since the last NFP, when he was long those Euros- ouch.

Suck it up Robot and get back in there!

Wed, 06/30/2010 - 20:40 | 445524 vainamoinen
vainamoinen's picture

Al Huxley:

"new debt doesn't generate GDP".

Yes, that's the gist of it!

Wed, 06/30/2010 - 20:48 | 445537 agrotera
agrotera's picture

Thanks for the giggles TD!

Thu, 07/01/2010 - 00:42 | 445831 Grand Supercycle
Grand Supercycle's picture

 

On May 4th I called the end of the March 2009 bear market rally.

The proprietary indicators I use in my technical analysis can identify trend changes before they occur.

http://stockmarket618.wordpress.com/about

Thu, 07/01/2010 - 10:45 | 446347 Grand Supercycle
Grand Supercycle's picture

 

EURUSD buying support detected for some time now, has returned again and the daily chart is now neutral to bullish.

http://stockmarket618.wordpress.com/about

Sat, 08/21/2010 - 11:15 | 534724 herry
herry's picture

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