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The quants are on their own today, frontrunning each other to lift whatever offers are available.
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They are running mkt to the moon just like last September. If anyone remembers we still went up after LEH news and TARP plan and only started down after congress approved TARP. Is that correct?
correct, s&p went up after LEH BK, and was above 1200 until just about the end of the month. funny how everyone now blames the crash on LEH. Funny delayed reaction that was - 2-3 weeks.
Didn't it really fall when the house failed to pass TARP the first time?
TARP was proposed and Congress had reservations about the use of the money.It failed one house. Paulson and PPT took a 24hr coffeebreak and the market plunged 400 points. That scared(or blackmailed) the Congress into TARP. The PPT,Goldman and FED held the country hostage for bailout money
Is the fed beige book news already out for the people in 'know'....how the hell is the market running up so hard w/o any sign of anticipation?????
TARP passed and we crashed.
beige book will just be Pollyanna in a beige binding as usual.
There will be "some encouraging signs" even though the overwhelming majority of data are negative. They will admit to ongoing fragility but pledge "whatever tools are necessary" to combat the crisis and mend the markets.
Same as always
TD and Zero Hedge, I am thinking that I may like to start shorting the market, say 20 or so points higher in the S&P from here.
Could you kindly start printing some very positive comments about the strength of the markets and health of the economy?
All the bad news over the last few months has led to massive rallies so good news should...... ahhhh forget it.
lol
I bought FAZ today, can't wait to see if it's feast of famine.
i have a block at 24.40.....deciding if i should add to it or my broad market position.
i do not think the bkx or rifin can re=hit its' top. i'm gonna stay patient and watch for after the 10y auction and beige book...if they ramp the banks today and faz crosses 23, it will probably make my decision for me.
I laughed my stones off on the cof action today......
You shorted a rising market? Wow, good luck with that. Are you losing money out of a sense of moral righteousness or do you really just want to lose money?
Someone has to keep the banks in business... it is a civic duty...
I can't wait to see what happens when someone toggles the switch on Hal-2000 or just pulls the plug entirely. Maybe we could trigger it early? We just need some electrician's coveralls, full beards, a hot babe to distract Poindexter, and a dude with a French accent.
Plan B is to convince Poindexter that he needs to add one little ! to that line of code...right...there. Yes, that should do it.
I do a pretty good French accent and have my own trench coat. You're people contact my people, we're in business.
Hey are you saying that everyone has become negatively suggestible? If that were true then maybe all the dollars that come flooding back home have no place to go but the stock market and it will rise in direct relation to the demise of the dollar and all the green shoots are just to keep us OUT.
They're decoupling the wrong way!
Being the riverboat gambler I am, I went short EURJPY at the 38.2 fibo of the whole Aug 08 - Jan 09 fall at 134.2 this morning. Not trading anything USD denominated anymore, the increasing $ inflation anxiety is ruining the technicals.
I would add that this entire rally has consisted of distorting and manipulating the technicals. All of these EOD/midday rallies completely skew the indicators in a positive direction.
Look no further than last Wednesday. There was apparently an unexpected break downward of thirty points or so. A stick save occurred, and the market continued to march up in the preordained upward channel extablished before the drop occurred.
RSI, MACD, Stochastics, technical chart formations? All gamed.
Dollar is sub-77, heading for 76.5
It seems the plan really is to give creditor nations the finger and ask "what are you doing to do about it?"
I enjoy getting squeezed on shorts while obv is neg. Everything has 4x as many downticks as upticks yet that stupid perpetual reserve bid is compelled to step up.
TD, I have a feeling the Goldman desk is pushing us up whenever you post a negative article. So here is my suggestion: start saying massively bullish nonsense and WE WILL FINALLY DROP. Jeez.
Look on the bright side - when this market cracks, which it will, it will be big moves very quickly. There is no way that the current actions are sustainable in the medium to long term, with fundamentals continuing to weaken (despite the spin put on specifically chosen 'factettes').
And let's not forget that the bank 'non-stress' tests were complete and utter nonsense, unemployment figures already in excess of their stress values and 'assets' being marked to fiction, not fact.
DavidC
Don't confuse the issue with facts.
Please y'all look at http://www.ibtimes.com/articles/20090909/market-approaching-test-time.htm. Great assessment of inter- and intraday patterns since March. We've been had.
Its' grand that the market will never go down ... the future is so bright I have to short shades.
Well one thing important is also happening. I always watch the 10 years yield and every time it comes close to 3.5 the market drops. But not today. Further drop in the dollar will lead to further drop in the tb prices and will be only a matter of time before the fed pulls the plug. They have been micromanaging the market for a while,and somehow managed to squeeze the market up with yields down. The last couple of days it is not working. And eventually the bond market will obliterate stocks.
Bloomberg today: "The S&P 500 has rebounded 53 percent from a 12-year low on March 9 as reports from consumer confidence to home sales signaled the recession is easing and companies from Johnson & Johnson to Goldman Sachs posted earnings that beat analysts’ estimates. Price said the U.S. stock market resembles 1975-1982, when the S&P 500 doubled, and he’s finding value in small banks.
“We made very good returns from ‘75 to ‘82,” Price, who managed some of the best-performing mutual funds during the 1980s and 1990s and now runs New York-based MFP Investors LLC, said in an interview broadcast on Bloomberg Radio and Television. “Pick your spots, pick your stocks, do your work, and somebody’s going to be selling something too cheaply.. "
Astounding how wrong everyone logging into ZH appears to be. Astonishing, isn't it? Is ZH the land where losers go to cry in their beer, and be comforted by fellow losers, all the while muttering about how "The Man" is going to get his, and ordering another round?
Not my opinion, but you could sure paint that picture and it would closely resemble the set of facts and circumstances we call "reality," a lot closer than any of the "any day now" prognostications offered up around here.
Wrong, Zeppelin. Because you would have pooh-poohed ZH in 2007 and look what happened? Any small investor that bought between 1999 and 2007 is UNDERWATER. That is what you need to get into your fat dumb ass skull. Daytraders is NOT why folks come to ZH. It is to finally unmask the jokers who stole from everyone's 401k and are trying to do so once again.
I think it is possible that the current stock "bull market" run is a cleverly thought out plan to bilk private investors of the remainder of their savings. After all, there seems to be few fundamental reasons for the markets to keep going higher.
The big boys still have major financial problems with their balance sheets, despite receiving a huge amount of bailout funds, and need to pocket more profits. Time is of the essence. It is possible that they may have to mark to market someday, which would show that they are really insolvent (though I would say it is unlikely to happen soon).
It could work something like this:
Step 1) get small investors to buy into mutual funds, or other "managed" accounts. This is done via direct advertising via TV/radio/internet, mailings, etc. Getting new accounts should be easy now, as the markets have had historic run ups, and show few signs of correcting. The cheerleaders on TV, online, etc., posit that "the recession is over," "economy is picking up," "we see signs of solid growth," etc.
Step 2) run up the stock prices, by trading via the financial companies’ private trading accounts, using computers, and sophisticated software, of course. Something like “I will buy yours, if you buy mine”… JPM buys from UBS, who buys from GS, who buys from…
Step 3) Once you have reached the "target" number, dump (by selling… you get a commission that way too) whatever shares are in the company trading accts into the fiduciary/managed accounts (existing/old accts, and those obtained in step #1), and pocket the profits.
Step 4) pay out big bonuses, and enjoy the holiday season.
Step 5) at this point, the "big boys" can crash the markets, (and short on the way down, using their trading accounts), and suck their fiduciary accounts dry.
Lather, rinse, repeat.
Of course, for this to work, the regulators must be absent, or not enforcing the regulations. That means the big boys must be working along with the government….
Ya think??? Nah…