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Tomorrow's POMO Priced In?

Tyler Durden's picture


Stocks close the day in a world of their own, flirting with the breakeven line, even as seemingly nobody wants QE2 anymore, or so they say. The only thing that matters: POMO is tomorrow, and the T+3 sale today means mutual fund re-buying has to be frontrun tomorrow. Not even did all currencies do nothing all day except for the AUDJPY shich was the only reason for the carry-funded surge in ES, but late in the day stocks no longer even cared about that as the HFT momentum brigade took over. With POMO now being front run the day before, the question remains - what will be the buying catalyst tomorrow?

h/t Credit and London Dude Trader


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Wed, 10/27/2010 - 16:08 | 681369 NOTW777
NOTW777's picture

but Abby says the market is cheap; things are much better than we think

Wed, 10/27/2010 - 16:21 | 681414 Id fight Gandhi
Id fight Gandhi's picture

They always drag out skeletor near market tops.

Wed, 10/27/2010 - 16:32 | 681450 kornholio
kornholio's picture

good one Id, at least this time its close to halloween

Wed, 10/27/2010 - 17:12 | 681568 carbon based unit
carbon based unit's picture

she's been wearing that same costume for far too long.  i mean, you don't think she really looks like that ... do you?

Wed, 10/27/2010 - 16:08 | 681370 pat53
pat53's picture

better than expected jobless claims, probably below 450K.  Just stay long or buy the dips. Fighting the Fed is a losing strategy.

Wed, 10/27/2010 - 16:09 | 681372 101 years and c...
101 years and counting's picture

"the question remains - what will be the buying catalyst tomorrow?"

DUH!  the "better than estimate" (but to be revised down next week) initial claims.



Wed, 10/27/2010 - 16:09 | 681376 TooBearish
TooBearish's picture

Gawd she hard on the eyes where's Robo with some relief.......

Wed, 10/27/2010 - 16:11 | 681378 the not so migh...
the not so mighty maximiza's picture

POMO = Plucking Off Money Orgy

Wed, 10/27/2010 - 16:10 | 681380 uno
uno's picture

i was thinking there was a pomo front run this afternoon when the market went sideways.  Also today was option expiration for the metals (I believe), so that could account for the PM selloffs.


Wed, 10/27/2010 - 16:13 | 681387 HarryWanger
HarryWanger's picture

Well ZH isn't the only one who figured out there is money to be made on POMO days. Hence the buying into the close. Keep using a winning formula until it doesn't work any more. So far, it's been working really well.

Wed, 10/27/2010 - 16:13 | 681388 Clark_Griswold ...
Clark_Griswold Hedge Mnger's picture

the catalyst for tomorrow is Bennie wakes with a Woodie

Wed, 10/27/2010 - 16:13 | 681389 Iam Rich
Iam Rich's picture

This is the correct strategy now.

However, 450k claims is still in the current noise range and just simply terrible.  We have already had QE1, QE2lite, and the promise of QE2 till whenever and still ~450k claims.  Perhaps this is not working.

Wed, 10/27/2010 - 16:16 | 681402 pat53
pat53's picture

<450K on claims and the promise of more "goodies" from Bennie = 100+ Dow points tomorrow.

Wed, 10/27/2010 - 19:05 | 681809 taraxias
taraxias's picture

Nonsense. Better than expected on claims tomorrow SEALS the no QEII play......which means DOW down 100pts, not up.

And yes, I fully expect a beat tomorrow.

Wed, 10/27/2010 - 16:17 | 681405 the not so migh...
the not so mighty maximiza's picture

Its sad that over 400k in claims is now normal and fine.   A few years ago who would have belived it.

Wed, 10/27/2010 - 16:15 | 681399 plocequ1
plocequ1's picture

I got a catchy name for a new Webite... POMO A What do ya think?

Wed, 10/27/2010 - 16:17 | 681408 the not so migh...
the not so mighty maximiza's picture


Wed, 10/27/2010 - 16:23 | 681425 plocequ1
plocequ1's picture

I get 20% finders fee

Wed, 10/27/2010 - 16:18 | 681411 lsbumblebee
lsbumblebee's picture

Laughable. Suddenly we get a WSJ report citing no sources that QE2 might be smaller than anticipated. This supposedly drove PM's down and the USD up, because of course this news means that the dollar, although further debased, will still be stronger than single ply.

Wed, 10/27/2010 - 16:21 | 681417 HarryWanger
HarryWanger's picture

All part of the game. Now they can be "surprised" when a big fat QE2 comes along and the market will fly on the news.

Wed, 10/27/2010 - 16:20 | 681415 ZakuKommander
ZakuKommander's picture

Tomorrow's catalyst?  The sun rising.  BTE on lowered expectations.

Wed, 10/27/2010 - 16:28 | 681431 metastar
metastar's picture

GLD options expiration shakeout/manipulation for Friday followed by ramp on QE2 next week???

Wed, 10/27/2010 - 16:30 | 681439 repo 105
repo 105's picture

Does anyone see how rich the ES is to the AUD/JPY on a daily?  Something has to give, right? 

Wed, 10/27/2010 - 16:31 | 681446 Fortunes Favor
Wed, 10/27/2010 - 16:41 | 681482 There is No Spoon
There is No Spoon's picture

it's all psychotropic push and pull until next wednesday. weak jobs data = higher expectations for qe2. anyways the journal reported the size could be $250 billion over three months which is the same as $1 trillion per year, now there's scheduled catalysts to pump the markets every few months.

Wed, 10/27/2010 - 16:55 | 681520 metastar
metastar's picture

Yes, We don't want the frog to jump out of the pot.

Wed, 10/27/2010 - 16:53 | 681511 treemagnet
treemagnet's picture

Did you know turkeys can actually fly during hurricanes?

Wed, 10/27/2010 - 17:32 | 681611 the rookie cynic
the rookie cynic's picture

Yes, but only those tagged with "PIMCO".

Wed, 10/27/2010 - 23:22 | 682338 snowball777
snowball777's picture

"As God is my witness, I thought turkeys could fly..." - Mr. Carlson, WKRP

Wed, 10/27/2010 - 16:53 | 681516 HarryWanger
HarryWanger's picture

Sold Apple on news. Tight stops work well.

Wed, 10/27/2010 - 17:21 | 681585 firstdivision
firstdivision's picture

Until you're stopped out then the price recovers...

Wed, 10/27/2010 - 18:10 | 681707 HarryWanger
HarryWanger's picture

That's exactly why I am happy to stop myself out. Where's there's smoke...Margin peaks signal stock peaks. Sure, we heard this last week but now it's officially filed. I don't care what all the clowns say trying to talk up their book on this, AAPL now appears to have some downside coming along shortly.

Thu, 10/28/2010 - 03:56 | 682663 EhKnowKneeMass
EhKnowKneeMass's picture


by HarryWanger 
on Wed, 10/27/2010 - 12:49


And I was able to pick up some AAPL today under 306. Back in that trade. Although now this is a very long term play for me. No quick money here but long term is going to be great.

And ~4.30 hours later, AAPL is no longer a long term proposition and Harry steps away. Go figure!


Wed, 10/27/2010 - 18:13 | 681716 Sam Clemons
Sam Clemons's picture

I thought I saw something saying day-trading was dead.  Its not, just buy at 1300 EST on any down day and watch the manipulation roll in profits.

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