Today's POMO Begins: The Fed, Via The PDs, Prepares To Inject Between $3 And $5 Billion Into High Beta Stocks

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Wed, 09/22/2010 - 10:20 | 597085 EscapeKey
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Ah, I was wondering why the markets were up. But then I thought "it's Wednesday".

Wed, 09/22/2010 - 10:21 | 597090 SpeakerFTD
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I think the game is up.  By my count, yesterday was the top of the rally, and every POMO play from here on out will be slope of hope material.   See you at Euro parity and S&P 800.


Wed, 09/22/2010 - 11:05 | 597246 curbyourrisk
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+1   (golf clap)

Wed, 09/22/2010 - 11:08 | 597258 HarryWanger
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AAPL at 287. Market ain't going nowhere while this behemoth keeps rising.

Wed, 09/22/2010 - 11:36 | 597348 SpeakerFTD
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Harry, if I was allowed to buy Z 200 puts on AAPL, I would be waving them in with both hands

Wed, 09/22/2010 - 12:02 | 597443 RockyRacoon
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Stop pumping AAPL.   We are perfectly capable of reading charts, news, and spin without your help.

Wed, 09/22/2010 - 10:24 | 597103 Ragnarok
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SLV and GLD are lagging the futures, have people finally realized the difference?

Wed, 09/22/2010 - 10:24 | 597104 sethco
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Quixotic ramp at the open today

Wed, 09/22/2010 - 10:27 | 597118 Battleaxe
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Jocko Pomo has awakened!!

Wed, 09/22/2010 - 10:29 | 597123 scratch_and_sniff
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I was kind of thinking that since the last pump was so large they might do a small one today; maybe they knew what the reaction was going to be after last nights statement(i.e sell everything and buy it back with the feds money at a lower price) so they put a few handles on the market before the selloff . Everyone will be in the market today, and if they are going to sell until the stimulus release, it might not be worth the feds while today.

Wed, 09/22/2010 - 10:31 | 597126 Pillage
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Four symbols sum it up........AAPL

Wed, 09/22/2010 - 10:38 | 597142 Dagny Taggart
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AAPL - you mean the Wanger index? Nope, not now 'cause both AAPL and my shorts are up. It's like someone's Sack has whiskey dick...

Wed, 09/22/2010 - 10:35 | 597134 Sancho Ponzi
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OT: KRE is getting slaughtered today. 

Wed, 09/22/2010 - 10:56 | 597210 HelluvaEngineer
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banks started rolling over yesterday

Wed, 09/22/2010 - 10:36 | 597137 Tense INDIAN
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well they have been POMOing this market for this long ....i think there is no reason they will let this fall atleast till the elections..

Wed, 09/22/2010 - 11:58 | 597422 Panafrican Funk...
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Early October is going to be the crash.  Remember, neither the Dems or Repubs are in control of this.  A Repub landslide = governmental gridlock = mission accomplished.  In other words, if you think the market is engineered, why would the engineer it so that the Dems would retain a congressional majority?

Wed, 09/22/2010 - 10:39 | 597148 old_turk
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Stick SAVE!!!!

Although I don't think all that liquidity is moving to equities ... I have pretty good evidence (ie price run-ups) that commodities will be the beneficiary of all this liquidity.

Not that anyone will have any money (yeah, it's TP, but until bread is priced in AU milligrams, it's all you got) to buy the said commodities with.

Expect continuing records in the SNAP program (that's the new name for food stamps) gentlefolk, unemployment rates to bounce and more BS from the pols about what they are going to do to 'help'.

Ugly isn't descriptive enough, fulgy doesn't do it justice ... FUBAR is close.

BTW, O/T but Summers is quitting ... his work is done, now is time for him to cash out.

The rats are leaving the ship, were they pushed or did they jump?

Wed, 09/22/2010 - 10:43 | 597163 ZackAttack
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He's just stepping down so he can spend more quality time with his money.

Wed, 09/22/2010 - 10:42 | 597155 Dagny Taggart
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Maybe the equities can't get any higher because POMO was just a gateway drug. It craves QE2. Why screw around with billions when you can pump a few trillion?

Wed, 09/22/2010 - 10:42 | 597159 chinaguy
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No POMO bounce today! I got out w/ my AM position of DDM @ neutral!

Wed, 09/22/2010 - 10:43 | 597160 Id fight Gandhi
Id fight Gandhi's picture

Jeffries ain't good today for fins.
Adobe got crushed,

I think this dog is rolling over today, gold will run, but not breaking 1300 today

Wed, 09/22/2010 - 10:47 | 597176 RobotTrader
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CarMax headed back up to 52-week highs.

With gasoline prices imploding almost weekly here in Los Angeles, no wonder car sales are booming.

Wed, 09/22/2010 - 11:00 | 597220 Cognitive Dissonance
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With gasoline prices imploding almost weekly here in Los Angeles, no wonder car sales are booming.

So RobotTrader is an LA product? Interesting. Explains the push up bra and the empty head. :>)

Wed, 09/22/2010 - 10:48 | 597180 Hero Protagonist
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How can you determine the principle amount of each CUSIP ID?

Wed, 09/22/2010 - 10:59 | 597216 Jason T
Jason T's picture

AMZN pump is pathetic.

Wed, 09/22/2010 - 11:05 | 597235 gigeze787
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POMO Pop is all about the Nov Congressional elections. (So is dumping Wall Street pimp Summers).

Obama won in 2008 after the unwashed proletariat received their Q3 301K/IRA-lite statements (later to be revised to 201K statements after Oct freefall.)

WH/Fed/Treas objective is the Sep 30 close...which will determine value of 401K/IRA statements received by voters in mid-Oct. POMO levitation of SPX > 1100 will continue for at least 6 more trading days.


"...Many millions of American households are gingerly opening envelopes containing reports of the third-quarter losses in their 401(k) and other retirement accounts -- telling each household its portion of the nearly $2 trillion that Americans' accounts have recently shed. In this context, the McCain-Palin campaign's attempt to get Americans to focus on Obama's Chicago associations seem surreal..."

Wed, 09/22/2010 - 11:04 | 597238 TradingJoe
TradingJoe's picture

Well folks, POMO, it seems, won't help today, maybe Friday?! @ RobotTrader, trying to pump up your own holdings, "darling"?

Wed, 09/22/2010 - 11:06 | 597252 PlausibleDenial
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Damn, everytime I think I have it figured out, it just doesn't work.  POMO, MOMO, or MOJO. I just dontno....  And, the market is suppose to go up?

Wed, 09/22/2010 - 11:07 | 597254 EscapeKey
EscapeKey's picture

Headline on Marketwatch:


Home prices at a 6-year nadir.

And yet, the markets go up. And that's because of "great fundamentals", "good news", "low P/E-ratios", "worse than expected was priced in" and other bullshit factors.


Wed, 09/22/2010 - 11:10 | 597260 bobby02
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Why do you take it as the gospel that POMO proceeds are spent on equities?

Wed, 09/22/2010 - 11:29 | 597321 PlausibleDenial
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Because Tyler said so..... :)

Wed, 09/22/2010 - 11:15 | 597274 Threeggg
Threeggg's picture

It's Hush - Hush

The EIA inventories and analysts were off buy only 200% this morning

I am telling you the wheels are starting to come off this whole financial shit storm.

Prepare !

Analysts polled by Platts expected a decline of 1.5 million barrels for the week. Gasoline stocks rose 1.6 million barrels, whereas analysts had seen it unchanged. 

Huh ?

Oil about to implode !


Wed, 09/22/2010 - 11:28 | 597316 Igiveup
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Would one of you please take the time to explain to those of us who are not priviy to all of the doings you guys evaluate with your comments everyday how exactly the POMO is creating money?  As I understand it, the POMO is purchasing bonds for cash.  The cash comes from selling treasuries.  If the bonds are retired and the treasuries are issued, how does that increase the supply of money in the system?  And how does that money make it from the Fed to the equities market?  Read you guys every day but it's like hearing an inside joke sometimes.  You all know what's going on so you take the short cut in the explanation and the rest of us don't get it.

Wed, 09/22/2010 - 12:28 | 597542 Battleaxe
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Brian Sack's mom (Nutella) must be proud!

Sat, 09/25/2010 - 23:06 | 605033 CL1
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