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Sideways Market

Tyler Durden's picture




 

Or the purest definition thereof seen in a while. Looks like no action again until the last 30 minutes.

In the meantime dollar, bonds and equities appear to be dislocating.

 

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Fri, 08/14/2009 - 14:00 | 37022 SV
SV's picture

I always like seeing those points, like at 8:30am PDT, where a catalyst occurs to set a new direction for algos.  Totally missing when you only look at EOD.

Fri, 08/14/2009 - 14:54 | 37115 Dear Infinity
Dear Infinity's picture

Options traders going crazy on BAC.

Fri, 08/14/2009 - 15:05 | 37131 Anonymous
Anonymous's picture

Rumours of news of Tarp repayment after close have been circulating.

Fri, 08/14/2009 - 15:18 | 37155 Anonymous
Anonymous's picture

Master Trust data released at 2pm - Citi, BAC, others all showed improvement.

Fri, 08/14/2009 - 18:49 | 37332 peterr (not verified)
peterr's picture

Consider the credit cycle, the cost of asset dispositions (sold revenues and
earnings) and the need for infrastructure upgrades and integration… there’s

stock market blog

Until we have guys like Black back as regulators nothing will change. We just

good articles;

target="_blank">good articles 4 slow news day ..http://www..


hat tip:

href="http://www.iamned.com" target="_blank">finance news & finance opinions

Fri, 08/14/2009 - 14:06 | 37032 mule65
mule65's picture

Been here before -- will we get the SPY ramp up today?

Fri, 08/14/2009 - 14:09 | 37039 lettuce
lettuce's picture

theyve been trying to squeeze it all afternoon but nobody around to cover their shorts. (check 1:19 and 1:33 on spy)

Fri, 08/14/2009 - 14:13 | 37047 lettuce
lettuce's picture

lets throw 159 and 213 in there too! who says watching SPY all day long is boring.........

Fri, 08/14/2009 - 14:28 | 37071 Anonymous
Anonymous's picture

Whats funny about that is paper deliberately trying to blow out tops in the pit

Fri, 08/14/2009 - 14:06 | 37033 Howard_Beale
Howard_Beale's picture

Talk about a sideways market, the NDX is exactly where it was 17 trading days ago.

Fri, 08/14/2009 - 14:08 | 37037 lettuce
lettuce's picture

nice post td...this is a good one. very clearly shows the potential of mischief going on.

 

keep watching the carry trades (e.g. euryen) collapse and equities remain stable (or...god for bid, rise).

Fri, 08/14/2009 - 14:40 | 37092 Anonymous
Anonymous's picture

No worries. Flooring By Fed still intact, but institutions will start to lock-in what has been regained and mitigate risk a bit as we approach that October edge. Who wants to walk right up to it, after all? Crab walk of trepidation.

You ponder, 'who's going to be buying Treasuries after the Fed stops buying?'. Everybody else.

Meanwhile, back up tomorrow.

Fri, 08/14/2009 - 14:09 | 37041 mdtrader
mdtrader's picture

The bulls will probably be looking for a 1008-1010 close, the bears will be looking for a 982-984 close.

Fri, 08/14/2009 - 14:11 | 37043 nogeithner (not verified)
nogeithner's picture

don't worry..gold amn will do the usual 2:30 stick save routine..

Fri, 08/14/2009 - 16:01 | 37245 Anonymous
Anonymous's picture

no 230 stick save but we got a nice 330 one!!

Fri, 08/14/2009 - 14:13 | 37046 Anonymous
Anonymous's picture

Notice how they turned the program on to just hover, while they figure out the next move?

Fri, 08/14/2009 - 14:15 | 37055 bpj
bpj's picture

I could use and arrow or two.

 

"I try to think, but nothing happens." Curley Howard

Fri, 08/14/2009 - 14:15 | 37056 Takingbets
Takingbets's picture

Just posting so Cheeky can steal my avatar to add it to his collection. Does anyone have a Barney Fwank pic?

Fri, 08/14/2009 - 14:23 | 37062 Cheeky Bastard
Cheeky Bastard's picture

lol ... I'm sticking with this one until the dudes in the black SUV and an ear piece tell me the opposite

Fri, 08/14/2009 - 14:33 | 37081 Takingbets
Takingbets's picture

LOL!!!! Thanks!!! I've had that pelosi pic for awhile now and forgot about it until I saw yours, enjoy!

Fri, 08/14/2009 - 19:55 | 37519 Anonymous
Anonymous's picture

If you find joker Lloyd Blankfein PLEASE POST. Thank You.

Fri, 08/14/2009 - 14:18 | 37058 Anonymous
Anonymous's picture

the 330 Minute Made squeeze is commin

again, i like my rallies freshly squowzen!!

Fri, 08/14/2009 - 14:19 | 37060 lettuce
lettuce's picture

this has nothing to do with anything, but i'm going to go ahead and say that "squowzen" is from the simpsons' lemon-tree episode. i dont even think that word exists outside of that show/episode. excellent.

 

now let us all enjoy a nice cool glass of turnip juice....

Fri, 08/14/2009 - 14:41 | 37094 shortcover
shortcover's picture

That episode, the Citizen Kane parody, and Homer Goes to Clown College are the 3 best episodes ever for that series...

Fri, 08/14/2009 - 15:54 | 37232 Anonymous
Anonymous's picture

I'll go with the episode where Homer starts bootlegging and the episode where Homer becomes a union boss and the plant goes on strike after Mr. Burns tries to take away their dental plan. Dental plan...Lisa needs braces...Dental plan...Lisa needs braces...Dental plan...Lisa needs braces...Dental plan...Lisa needs braces...

Fri, 08/14/2009 - 14:41 | 37095 Anonymous
Anonymous's picture

-advertising spokes persons voice- "today's rally brought to you in part my Minute Made Orange Juice, ahhh! thats a fresh squeezed rally"

Fri, 08/14/2009 - 14:18 | 37059 Anonymous
Anonymous's picture

I'm buying 250,000 SPOO contracts at 2:30 pm. Just thought I let all my friends here at ZH front run me. Remember 2:30 PM, EDT.

Fri, 08/14/2009 - 14:23 | 37063 Anonymous
Fri, 08/14/2009 - 14:24 | 37065 Anonymous
Anonymous's picture

BAC short squeeeeeeeze

Fri, 08/14/2009 - 14:26 | 37067 Anonymous
Anonymous's picture

Ramp on the way. The entire hope for the market, the Western World, indeed all of humanity now rests with Bank of America. Note this is where all ramps start. Paulson and now Louis Bacon seem to know, or believe, something most commenters on this site refuse to see. Somebody is blind or stupid or both. But who?

Fri, 08/14/2009 - 14:38 | 37087 Anonymous
Anonymous's picture

That Paulson...BAC is worth $4...he's
gotta get out:)

Fri, 08/14/2009 - 15:10 | 37141 Hephasteus
Hephasteus's picture

That would only buy you about 15 minutes of someone opening letters or answering calls that go something like this.

 

BITCH I WANT MY MONEY!!

Fri, 08/14/2009 - 14:27 | 37069 Ducky
Ducky's picture

sideways while the R2K vs. SP bleeds slowly

Fri, 08/14/2009 - 14:29 | 37072 Tripps
Tripps's picture

check out BAC..hitting HODs as the dow selling increases...only dow stock green on teerible data today

 

pure and utter PPT all the way

Fri, 08/14/2009 - 14:37 | 37084 Anonymous
Anonymous's picture

geez ... give it up already. is that all you can come up with is "PPT?" How about something you thought of all by yourself?

this site has turned into JAYMB (just another Yahoo message board).

Fri, 08/14/2009 - 14:43 | 37099 Anonymous
Anonymous's picture

BRAVO! It needed to be said. Every freaking idiot in the world blames the PPT. Next!

Fri, 08/14/2009 - 14:48 | 37110 Anonymous
Anonymous's picture

Nah...it is friggin Larry and Rahm

Fri, 08/14/2009 - 15:06 | 37134 Anonymous
Anonymous's picture

Check THAT! Rarely comment here, but love reading this blog. However the bored, marbly-mouthed board mongers are getting so cozy here as to make it not worth wading thru all the dumbass chat-board comments anymore (yeh, something like yahoo). Is there anyway to set limits on the number of posts per day for obvious anon blatherers and motor mouths? Quality is starting to suck seriously, but we do enjoy the anon component as it is more likely to produce the occassional jewel.

Fri, 08/14/2009 - 15:28 | 37174 dnarby
dnarby's picture

stfu

Fri, 08/14/2009 - 14:29 | 37073 Deficient Market
Deficient Market's picture

Looks like someone is withdrawing their money from treasuries regardless of where the dollar stands - hmm... I wonder what they plan to do with it, I'm sure they will not be spending it on stocks in order to ramp up the market into the close... That would be market manipulation, and that is illegal. The law still does apply the same to everyone right?

Fri, 08/14/2009 - 14:39 | 37091 Anonymous
Anonymous's picture

Treasuries are really stretched without
QE like every minute.

Fri, 08/14/2009 - 14:45 | 37101 Deficient Market
Deficient Market's picture

Yup, sure is

Fri, 08/14/2009 - 14:29 | 37074 Anonymous
Anonymous's picture

T Minus 1 to the 2:30PM PUMPING!

Fri, 08/14/2009 - 14:30 | 37076 walküre
walküre's picture

Sideways? Markets are pushing South but something is blocking the dam from bursting.

The propaganda proclaims that "we are winning this war" when our "brave" men on Wall Street have already thrown in their towels and running back to Mommy!

No shorts to cover is the pitfall of a staged rally.

 

 

 

 

Fri, 08/14/2009 - 15:29 | 37178 dnarby
dnarby's picture

A couple Big Boyz are getting out.

Sellin' their shares to J6P & AWSEOME-O.

 

Fri, 08/14/2009 - 18:49 | 37333 peterr (not verified)
peterr's picture

It's like eavesdropping on the guys in the tavern at the foot of the castle prognosticating about the lord's machinations. :)

stock market blog

Until we have guys like Black back as regulators nothing will change. We just

good articles;

target="_blank">good articles 4 slow news day ..http://www..


hat tip:

href="http://www.iamned.com" target="_blank">finance news & finance opinions

Fri, 08/14/2009 - 14:31 | 37079 Anonymous
Anonymous's picture

Financials starting to follow BAC. Great day to demonstrate how supremely resiliant these value stocks are.

Fri, 08/14/2009 - 14:40 | 37093 Anonymous
Anonymous's picture

You're kidding about value, I hope.

Fri, 08/14/2009 - 14:48 | 37111 Anonymous
Anonymous's picture

Great, I'm in SKF right now. Why oh why do I keep expecting this market to make sense. Really, I can only blame myself.

Fri, 08/14/2009 - 14:55 | 37117 Anonymous
Anonymous's picture

Been there done that. That's why I bought FAS at 2:20.

Fri, 08/14/2009 - 14:32 | 37080 Anonymous
Anonymous's picture

HFT Players: BB, TG, WTF you are breaking our balls 50 more bl to normal cap requirements!!!

BB: lunch hr, just take it for the team.. we out to nationalize you anyway; i'll BRB

HFTP: TG, it's ether now or 10/15 all over again, BB went amok SOS, SOS for old good times sake!!!

TG: 10/15, still under cap? YEAH Sirs, all engines check, one wire -1:30 to lift off, 10-4

HFTP: 10-4 TG, nation will not forget...

MARKET: yeah, yeah, yeah wire dat, black swan anyone? your ass is mine, damn robots.

Fri, 08/14/2009 - 14:48 | 37108 Anonymous
Anonymous's picture

I think the smart move for the manipulators to do now is to let the S&P 500 close at 966+... that allows for the bounce back to 1.100-1120-1140 before the collapse.

Fri, 08/14/2009 - 14:41 | 37096 crzyhun
crzyhun's picture

A little congestion here now....this could ramp to unch. at the end. Watch it if you are short, an algo could bite yours...BAC 1.5% up for the day? Ophf. Everybody is waiting for something to come out of somewhere.

Fri, 08/14/2009 - 14:41 | 37097 Anonymous
Anonymous's picture

I started the PUMP... you guys see that??

Fri, 08/14/2009 - 14:52 | 37114 Anonymous
Anonymous's picture

yeah great work dickwad, all my potential recoupment of huge losses today doesnt look like its gonna stick over the weekends.

Fri, 08/14/2009 - 14:58 | 37120 Anonymous
Anonymous's picture

Don't blame me. The dang PumpOLyzer 2000 jammed.

Fri, 08/14/2009 - 14:43 | 37100 lizzy36
lizzy36's picture

here comes bkx (the irony on bank failure friday).....

Fri, 08/14/2009 - 14:47 | 37106 Anonymous
Anonymous's picture

RF up another 10% on upgrade by BAC. Insane

Fri, 08/14/2009 - 14:49 | 37113 Anonymous
Anonymous's picture

oh, yeah, let me at it:)

Fri, 08/14/2009 - 14:58 | 37119 Anonymous
Anonymous's picture

No pump. This is going to finish sideways or down further for the day.

Fri, 08/14/2009 - 15:14 | 37145 walküre
walküre's picture

Agreed. The hedge funds are usually buying at set times each day and their efforts are not making a dent in light of the sell off.

Fri, 08/14/2009 - 16:02 | 37249 Anonymous
Anonymous's picture

Wow, that is the most unnatural shit I have ever seen. What happened to supply and demand. Who's buying at the close with today's news on a fucking Friday???

Fri, 08/14/2009 - 15:01 | 37125 Anonymous
Anonymous's picture

Headfake at 2:44.
Gotta make the manipulation look real.

Fri, 08/14/2009 - 15:01 | 37126 Anonymous
Anonymous's picture

100 bucks says spx closes 1001. any takers?

Fri, 08/14/2009 - 15:05 | 37132 Anonymous
Anonymous's picture

nope.
1004

Fri, 08/14/2009 - 16:02 | 37250 Anonymous
Anonymous's picture

I'm offering you $10 million/year to run my portfolio.

Fri, 08/14/2009 - 16:04 | 37254 Anonymous
Anonymous's picture

Ding, ding, ding! The winner! 1004.10

Fri, 08/14/2009 - 16:08 | 37265 Anonymous
Anonymous's picture

we have a winna!!

Fri, 08/14/2009 - 16:08 | 37268 Deficient Market
Deficient Market's picture

Are you the guy that just colocated his laptop with the NYSE?

Fri, 08/14/2009 - 16:23 | 37300 Anonymous
Anonymous's picture

Winner, winner, chicken dinner!

Fri, 08/14/2009 - 17:16 | 37357 Anonymous
Anonymous's picture

Thank you all. I can't believe I got that close, actually. I should have registered instead of being another "anon".

I don't run a portfolio, just my own.
Lost tons of money earlier this year, so understand the manipulation at hand.

Watch for the S&P to go higher yet. I have other non-financial "notifiers" in my kit that say the third week of Sept will be ugly. But take what you will at face value.

Peace all.

Fri, 08/14/2009 - 15:07 | 37137 Anonymous
Anonymous's picture

certainly above 1k, just look at what's going on with financiers. RDN also up nicely, great value stock

Fri, 08/14/2009 - 15:10 | 37142 Deficient Market
Deficient Market's picture

1005!

Fri, 08/14/2009 - 15:05 | 37133 Hephasteus
Hephasteus's picture

Ok. Ok. I admit that this bull market nonsense might have been a little bit of crazy talk. Would you swallow a sideways market? Hmm. Is that believable?

Fri, 08/14/2009 - 15:13 | 37144 Anonymous
Anonymous's picture

Would you swallow that a bunch of insolvent banks suddenly jumped in value this afternoon?

Fri, 08/14/2009 - 15:17 | 37149 D.O.D.
D.O.D.'s picture

this afternoon, they've been insolvent since March or longer, what's another 1%?

Fri, 08/14/2009 - 15:17 | 37150 nazir2000
nazir2000's picture

prechter on bloomberg pumping his dollar elliot wave theory

 

Fri, 08/14/2009 - 15:18 | 37154 Screwball
Screwball's picture

It wouldn't surprise me to see the market end up close to even, and SRS a tad negative just to piss off the shorts.  Who the hell would buy REITs today?  They started about 12:30.

Fri, 08/14/2009 - 15:20 | 37160 Anonymous
Anonymous's picture

It's like eavesdropping on the guys in the tavern at the foot of the castle prognosticating about the lord's machinations. :) Sure hope none of the drunks are pressed into service!

40muleteam borax

Fri, 08/14/2009 - 15:26 | 37166 Screwball
Screwball's picture

http://www.thebankinggroup.com/citireports/recentreading/Credit%20Suisse...

From the report

Our Thesis on Citi… this is no easy fix, even for the best of managers.
Consider the credit cycle, the cost of asset dispositions (sold revenues and
earnings) and the need for infrastructure upgrades and integration… there’s
still more downside than upside risk to estimates. The shares are rated
Neutral.

Better than expected I guess, rally on.

Thanks for the tip 37155

Fri, 08/14/2009 - 15:54 | 37233 CD
CD's picture

While this month's report may be in essence similar, the report you found is from Aug. 2008.

Fri, 08/14/2009 - 16:06 | 37258 Screwball
Screwball's picture

CD - your right, thanks.  My mistake. Apologies all.

Fri, 08/14/2009 - 16:07 | 37263 Anonymous
Anonymous's picture

now what a surprise, lure shorts in on dreadful news then hit them in the nuts again just before close and even run it higher afterwards to make sure they hit ALL the stops!

Fri, 08/14/2009 - 16:08 | 37269 Anonymous
Anonymous's picture

this market is totally rigged, GS see all the orders let the shorts in then front run them and get them all stopped out

Fri, 08/14/2009 - 16:13 | 37274 Anonymous
Anonymous's picture

This is such, total phony, garbage!

Fri, 08/14/2009 - 16:16 | 37281 Ducky
Ducky's picture

how does that old saying go...? never short a quiet market? yeah that's it

Fri, 08/14/2009 - 16:30 | 37314 cocoablini
cocoablini's picture

Wow-Tyler, where's the SPY gunner charts. That was an amazing show there at the end

Fri, 08/14/2009 - 16:31 | 37316 Anonymous
Anonymous's picture

and just look, all day long, hardly a move, then wham into the close to make the tape look good!

Fri, 08/14/2009 - 18:48 | 37331 peterr (not verified)
peterr's picture

Whats funny about that is paper deliberately trying to blow out tops in the pit

stock market blog

Until we have guys like Black back as regulators nothing will change. We just

good articles;

target="_blank">good articles 4 slow news day ..http://www..


hat tip:

href="http://www.iamned.com" target="_blank">finance news & finance opinions

Fri, 08/14/2009 - 17:34 | 37375 Anonymous
Anonymous's picture

REIT volume down to a trickle. When do all the secondary bagholders stop being pigs about their 100% gains in 5 months.

It will end badly....

Fri, 08/14/2009 - 20:27 | 37552 Anonymous
Anonymous's picture

stick save in the last 5min just to close S&P above 1000 level:

http://www.etfdigest.com/members/davesdaily/davesdaily081409_files/image...

just to lure more stupid bulls. John Paulson and his clients love you and your money.

Fri, 08/14/2009 - 21:58 | 37610 Anonymous
Anonymous's picture

Wy do you cut off the very bottom of your Bloomberg Professional Service sceen GRABs?

Do NOT follow this link or you will be banned from the site!