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Tiny $1.7 Billion POMO Ends At Whopping 23.6x Submitted To Accepted Ratio
Today's POMO closed at a very light $1.66 billion, leading to a whopping 23.6x Submitted to Accepted ratio (on a massive $39.2 billion in submitted indications), which as we presented yesterday historically indicates a very weak outcome as the Primary Dealers will not be able to satisfy risk frontrunning capital requirements. And, as expected, the only two CUSIPS executed on, were within the list presented, with the 3/15/2013 receiving 70% of the take down. Overall a very weak POMO and one which would validate the current weak market action.
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Weak, Bitchez!
23.6x = please.buy.shit.please
Let the rally begin anyway!
Tyler, of course it's **100%** coincidence they're the March ones, right?
LOOOOOOOOOOOOOOOOOOOOOOOOL!
Mar11 SPY Puts!
How much of the announced quota is left for the remaining three scheduled POMOs?
What a sad excuse of a POMO
Looks like no one gives a shit anymore.
Thats when you know it really is comming to an end, people are to busy looking throw garbage cans for food to care about the markets.
Well, QE2 It Is, Then! I bet there will be a nice ramp-up Monday/Tuesday, if there is anything left in the POMO-Bag,(Ricky-Bag by LR for a whopping 16K Gator Skin, talk about inflation, eh?), with a DECENT SELL OFF thereafter, say 15%-30%??
There was nothing in the POMO bag to begin with except imagination. Same with the Q/E2 bag, theres nothing there. How long do people really want to play Fantasy Land for?
all if the hedgies and PD's have an X-Files poster up on the wall of their basement offices like the one Muldar had... The one with the UFO picture titled "I Want to Believe"
So... mild melt up for remainder of today, up day tomorrow on BTE GDP figure of 2%-2.5%, flat on Mon and Tue leading up to rocket launch Wed? Or...?
Why would "they" keep us in a holding pattern at 1185 until Wed, just to launch the market? To convince Joe 6-pack that the Republican wins were well received?
I still wouldn't be surprised to see a pull back to 1150 then the fake "surprise" on QE2 sparking a big rally on the news. That will give them the ammo to say, "Well, maybe it wasn't baked in."
'SURPRISE!' yipeeeeeeeeeee!!
HW that's my call if I had to call it. I am looking to the day after for a short position. I am flat now and staying away from the mouse on 11/03 unless the market goes straight up and the juice is too good to pass up. Famous last words for a shorter...
Its ironic that the banking sector had demanded immense bailouts never before seen in history, a change in accounting rules for accepted fraud, and that they would trash sovereign bond markets should they not get what they want.
But the truth is out now, that the commercial banking sector sold sovereign bonds they did not first accumulate, preferring to naked short everything under the sun, backed by swaps, abetted by HFT.
So now, desperate to settle their wrong way bets, they will drive interest rates into the negative.
I'm sure that the Fed is finding out that no amount of money in the world will prop up interest rates above board.
http://ftalphaville.ft.com/blog/2010/08/04/306206/the-perils-of-releasin...
Anyone see this in the NYT?
With economic conditions weaker than expected, tax revenue is coming up short of projections in parts of Europe.
...
Greece ... looks as if it will run a budget deficit for 2010 greater than the 8.1 percent of gross domestic product it agreed to as part of a rescue package from the International Monetary Fund and the European Union ...
Forgive me if it was already posted here. I just got on line.
'Weaker than expected'? OMFG it cant BE!
This is why the concept of austerity fixing things is nonsense. Austerity is for the banking bond holders.
Credit is shrinking with austerity not sure how we get real growth...
Here, I have to say it. Deflation bitchez!!!
**** that. Buy AAPL, AMZN and NFLX. Excellent long term plays.
What will commodities do over the next few days?
Go down ....
Uncle Ben is serving table wine at the Q.E. party everyone thought he was serving greygoose/151 & fruit punch with afterhours lazer show....
Did Bernanke's printer run out of ink? Or was it like the comedy movie Airpane... just as the plane is about the land a guy trips over the power plug and that shuts off the runway lights?
More like the players involved reading the tea leaves re the election. Once the Donks are swept from Congress, Obama will be a lame duck and paralysis will set in on the federal government. My inner conspiracy theorist thinks that there will much less pressure on the Bankster overlords to keep propping this mess up since their pol-pals will be gone, and the evil Phants will start the investigations.
QE2 may not happen, and there might be a LOT less POMO going on after Tuesday. This is where they throw their hands up and say "Good Luck".
I think youre right Marla.
:-) I'm not Marla, just a tumor....
True, true...like that cut on the roof of your mouth that would heal if you could just stop tonguing it....Marla the big faker. Slide!
According to the FRBNY's web chimps, it never even happened.
This, after they mistakenly released the results of the Oct 18 auction 30 min. before it finished:
Anyone curious about why Wall St. investment banks have not only been stoking the fire around QE2, but were the first to speak up about it when the equity market started to have trouble? The banks are begging for stimulus and the Fed is so far up wall street's ass (as evidenced by today's survey) that they don't even get it. They think they are getting real advice on how to cure the economy when Wall St. profits decoupled from Main street's in 1982.
just to add to that - they decoupled in 1982, but they turned inversely correlated in 2001
Everyone dumping their paper... lol
Music is winding down and there are no chairs. Party is over. Now the only concern will be NOT to be the ultimate bagholder as no one in their right mind is chasing phony paper higher based upon increased speed of printing more. Thats pure fools folly.
This market...it is preparing to take a great big crap today.
As usual, JP Morgan is levitating mysteriously...but it doesn't look like it will hold.
Tipping point....has arrived.....IMO...
No sooner than I post...1.1 million shares on SPY....the invisible hand comes in...
Good grief!
Think of it this way. Everyone is ready to sell the news after either the Republicans get CONgress or the QE 2.0 announcement lacks. Would it not be best for the insiders to sell about a week before the announcements and crash the market BEFORE the announcements to catch everyone off guard? One massive profit making short.
The world is off its axis today - market red AND dollar falling. Don't see that very often these days.
Is Harry a bear yet?
OMFG!! 'New normal' out the window just like that.
My question: is this good news?
Mind you I'm asking from the position of one who believes in pure thoughts, clean living and not borrowing money that you can't pay back.
Good news in a way. Got guns, beans, bullets, etc stored?
Whether news is good or bad is entirely dependent on your desired outcome.
Hint based on your name: Nuke it from orbit. It's the only way to be sure.
Well, I did say I don't believe in borrowing money that you can't pay back but maybe that doesn't mean anything anymore. For starters I'd like to see a balanced US.gov budget, present year- not just some projected out year. I would also like to see an expanded space exploration program but that is likely not going to happen in my lifetime.
Is that too much to ask for?
btw-That nuke thing was Hudson's idea. But thanks for reminding me.
Damn, I hate when I mess up a quote! I think it was Ripley, right?
We're probably closer to "Game Over, Man" anyway.....it really wouldn't surprise me to hear that Timmy and Benny have acid for blood and procreate by shoving an ovipositor down some poor bastard's throat....
Its the only way to be sure.
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