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UPDATE: NYT Full Of Crap Jay Carney Says.... Here It Comes: Obama and Boehner Close To Major Budget Deal, Long Bond Surges

Tyler Durden's picture




 

UPDATE: CARNEY DENIES NYT REPORT: "THERE IS NO DEAL"

And this is what a market dominated by button pushing chimps looks like:

Originally:

Just breaking news from the NYT for now. 30 Year surging as long bond vol goes insane.

And here is the original NYT article:

The Obama administration has informed Democratic Congressional leaders that President Obama
and Speaker John A. Boehner were starting to close in on a major budget
deal that would enact substantial spending cuts and seek future
revenues through a tax overhaul, Congressional officials said Thursday.

With the government staring at a potential default in less than two
weeks, the officials said the administration on Wednesday night notified
top members of Congress that a bargain with Mr. Boehner could be
imminent. The Congressional leaders, whose help Mr. Obama would need to
bring a compromise forward, were told that the new revenue tied to the
looming agreement to increase the debt limit
by Aug. 2 would be produced in 2012 through a tax code rewrite that
would lower individual and corporate rates, close loopholes, end tax
breaks and make other adjustments to produce revenue gains.

Officials knowledgeable about the conversations between the
administration and Congressional leaders said the details of the
potential package remained unknown but they presumed it would include
cuts and adjustments in most federal programs, including Medicare.

However, officials on all sides of the tense negotiations warned that no
firm deal was in hand yet, and tried to downplay the progress — if only
to stave off attempts to block it or influence its shape by hardliners
on both sides of the debate on taxes and spending.

“While we are keeping the lines of communication open, there is no
‘deal’ and no progress to report,” said Kevin Smith, a spokesman for Mr.
Boehner.

And so on.

 

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Thu, 07/21/2011 - 12:42 | 1477519 Commander Cody
Commander Cody's picture

No doubt, it will be uber bullish.

Thu, 07/21/2011 - 12:46 | 1477531 spongeBOB
spongeBOB's picture

Good for +7pts on the SPX.

Thu, 07/21/2011 - 12:56 | 1477601 Ahmeexnal
Ahmeexnal's picture

comical. shortest lived "rally". How many seconds did it last?

 

Thu, 07/21/2011 - 13:11 | 1477671 TruthInSunshine
TruthInSunshine's picture

That would be so unfair if any bond traders just got wiped out because of a New York Times propaganda/planted/hit piece.

Has anyone seen Andrew Ross-Sorkin, by the way?

Hey, now that I think of it - where's Judith Miller?

 

Anyways - this New Normal is so fun! Never a dull moment, rumors just whizz by every fraction of a nanosecond, and the inverse of the inverse of the rational is the most or least likely to occur/or not.

Thu, 07/21/2011 - 12:56 | 1477604 Cognitive Dissonance
Cognitive Dissonance's picture

Round trip baby.

Was that as good for you as it was for me.

Lie to me if it wasn't.

Thu, 07/21/2011 - 12:59 | 1477619 Cdad
Cdad's picture

Having my after rumor cigarette now.  

Nice Ponzigasm.

Thu, 07/21/2011 - 13:09 | 1477674 stewie
stewie's picture

lol

Thu, 07/21/2011 - 13:11 | 1477695 Van Halen
Van Halen's picture

Hysterical!

Thu, 07/21/2011 - 13:52 | 1477851 I Am The Unknow...
I Am The Unknown Comic's picture

Bravo CDAD, BRAVO! 

(that's what Ponzi said  :>0)

Thu, 07/21/2011 - 13:02 | 1477632 Blano
Blano's picture

Hell that wasn't even enough time to whip it out.  (for me anyways)

Thu, 07/21/2011 - 13:22 | 1477745 Cognitive Dissonance
Cognitive Dissonance's picture

Just call me Quick Draw McGraw.

http://en.wikipedia.org/wiki/Quick_Draw_McGraw

Thu, 07/21/2011 - 22:42 | 1479527 StychoKiller
StychoKiller's picture

El Kabong FTW!!

Thu, 07/21/2011 - 13:04 | 1477640 wsmith
wsmith's picture

The rally continues.

The DOW is up by 158 points.

We have no power.

And Steve Lisman still wants head.

Now get on your knees, bitches.

Anyway, so long.

And God bless all you Marxist cocksuckers.

http://geraldcelente.proboards.com

Thu, 07/21/2011 - 14:13 | 1477943 Spastica Rex
Spastica Rex's picture

Tourette's?

Thu, 07/21/2011 - 14:41 | 1478056 cosmictrainwreck
cosmictrainwreck's picture

no... that would allow non-responsiblity; the dude's just fucked-up

Thu, 07/21/2011 - 13:14 | 1477708 spongeBOB
spongeBOB's picture

I put it an order at the time of the spike to short FAS @ 26 but didn't hit :(

Thu, 07/21/2011 - 22:42 | 1479524 StychoKiller
StychoKiller's picture

I'm NOT believing any of this until someone sprinkles some pixie dust on my unicorn skittles!

Thu, 07/21/2011 - 13:20 | 1477739 slaughterer
slaughterer's picture

20 ES points on Greece.

another 20 or so ES points on USA

puts us at a new 52-week sugar high!

Robo must be rolling in it. 

Thu, 07/21/2011 - 12:46 | 1477532 Ahmeexnal
Ahmeexnal's picture

uber bullshit

Thu, 07/21/2011 - 13:04 | 1477652 SWRichmond
SWRichmond's picture

Yes, but damned entertaining.  I can't even begin to describe how much genuine enjoyment I have gotten these past few weeks watching these establishment politicians squirm with a genuine intractable problem, one of their own making, and one that existentially threatens their survival.  It's the goddamned funniest thing I've ever seen.  It's been hard for me to work, I am spending so much time laughing my ass off.

Thu, 07/21/2011 - 14:12 | 1477937 sgt_doom
sgt_doom's picture

"..how much genuine enjoyment I have gotten these past few weeks watching these establishment politicians squirm with a genuine intractable problem.."

I'm fairly certain that's not what you've been observing, but simply the usual "political theater of the absurd" -- meant to confuse and bewilder the lowbrows (guess who falls into that category???) while passing the original recommendations of Obama's Bowles-Simpson Deficit (privatize or kill Soc. Sec. and Medicare) Commission.

And never forget, long-time private banksters Erskine Bowles sits on the board of directors of Morgan Stanley***, while his wifey sits on the board of directors of JPMorgan Chase.

***"Out of all borrowers, Citigroup received the most financial assistance from the Fed, at $2.5 trillion. Morgan Stanley came in second with $2.04 trillion, followed by Merill Lynch at $1.9 trillion and Bank of America at $1.3 trillion."


http://www.rawstory.com/rs/2011/07/21/audit-fed-gave-16-trillion-in-emergency-loans/

 

And the GAO study (thx to youse guys, I loves youse):

 


http://www.scribd.com/doc/60553686/GAO-Fed-Investigation

 

Thu, 07/21/2011 - 13:05 | 1477663 Gene Parmesan
Gene Parmesan's picture

It provides a nice insight, however, to how things will move when the thespians down in DC inevitably reach agreement on how they're going to screw us over. Gold's and silver's reactions are good examples.

Thu, 07/21/2011 - 12:46 | 1477533 bill1102inf
bill1102inf's picture

DOW +500 soon!

Thu, 07/21/2011 - 12:52 | 1477571 DonnieD
DonnieD's picture

Correct me if I'm wrong, but didn't we rally 200+ the other day on a debt deal. Now we're gonig to tack on another 200+ again. They should announce another deal tomorrow and we'll be at Dow 13,000

Thu, 07/21/2011 - 12:57 | 1477605 chartcruzer
chartcruzer's picture

forget this bullshit circus and the equities markets

take a good long look at the shape of the long term parabola forming on

http://stockcharts.com/h-sc/ui?s=GLD&p=W&b=2&g=0&id=p89250833873&a=172502148&listNum=3

Ill bet we have a least of few more years (of kick the can) to finish the part of the curve before it goes vertical.

easy as pie!

Thu, 07/21/2011 - 13:20 | 1477740 EscapeKey
EscapeKey's picture

Yes, but that was yesterday, and today is today. News today is news today, even if they're recycled.

Unless, they're negative, of course. Then they're "priced in".

Thu, 07/21/2011 - 12:46 | 1477534 Mike2756
Mike2756's picture

wonder what threw stocks into a fit of ecstasy.

Thu, 07/21/2011 - 12:56 | 1477599 dracos_ghost
dracos_ghost's picture

EU "Marshall Plan". Forced credit expansion to the stars baby.

Thu, 07/21/2011 - 12:47 | 1477537 Iriestx
Iriestx's picture

It's almost as if this is just some political kabuki-esque farce to cover over the fact that both parties made a decision months ago to eliminate your SS benefits, and this act is just something they're doing to legitmize it.

Thu, 07/21/2011 - 12:54 | 1477574 Cognitive Dissonance
Cognitive Dissonance's picture

I would say they knew they were going to cut SS, but they wanted to engineer a compelling reason to be 'forced' to do so. Presto chango, we now have a terrible crisis ready and waiting because they just couldn't agree to raise the debt ceiling. Like magic.

When someone doesn't want you to do something that you want to do, find some way to get them to beg you to do what they originally didn't want you to do.

"Suddenly I have a terrible tooth ache. Please smash my fingers so I'll forget about the tooth ache."

Thu, 07/21/2011 - 12:59 | 1477616 Subprime JD
Subprime JD's picture

I was thinking the same thing CD. It was given that they would raise the ceiling, the question was what they are going to cut and how will they make it acceptable to the public.

Thu, 07/21/2011 - 13:53 | 1477854 SheepDog-One
SheepDog-One's picture

Eat your peas.

Thu, 07/21/2011 - 13:08 | 1477669 Oh regional Indian
Oh regional Indian's picture

Seriously CD, anyone seeing such brilliant moves has to know that there is a plan. THe whole system of how US laws get written and passed, and all the things that are "stuffed" into them... it's really quite masterful, these lawyers and acountants in CONgress had it all figured out for them by some genius strategist. He either left a blue-print or a brilliant plan at the very least.

It's working like clock-work.

ORI

Thu, 07/21/2011 - 14:16 | 1477961 Spastica Rex
Spastica Rex's picture

CONfidence game. The marks keep playing.

Welcome to one-world grifterment.

Thu, 07/21/2011 - 13:34 | 1477786 I_ate_the_crow
I_ate_the_crow's picture

Problem-Reaction-Solution

http://www.youtube.com/watch?v=4nRrSQs3NbI

Thu, 07/21/2011 - 12:57 | 1477608 Bob
Bob's picture

Mr. Market is the sock puppet for this charade to satisfy "investors."

Thu, 07/21/2011 - 12:46 | 1477538 wsmith
wsmith's picture

It's another great buying opportunity.

The DOW is now up almost 200 points.

I believe we should all give Steve Lisman head.

That fat bald prick deserves it.

Anyway, so long.

And God bless all you Marxist cocksuckers.

http://geraldcelente.proboards.com

Thu, 07/21/2011 - 12:46 | 1477539 wang
wang's picture

it will be a 120 day fix

Thu, 07/21/2011 - 12:47 | 1477541 Lazane
Lazane's picture

hi ho that dog that "wags the tail"

Thu, 07/21/2011 - 12:48 | 1477542 alien-IQ
alien-IQ's picture

gee I wonder if the market will like it? LOL!!! Looks like a 300+ DOW day if the news breaks before the close. this is so pathetic I can't decide whether to scream or cry.

Thu, 07/21/2011 - 12:47 | 1477543 lolmao500
lolmao500's picture

Downgrade is a coming.

Thu, 07/21/2011 - 12:49 | 1477552 cossack55
cossack55's picture

So what. Its transitory.

Thu, 07/21/2011 - 12:47 | 1477544 cossack55
cossack55's picture

Yippee!!! I just knew our wonderful mast...leaders would save us. We are just too stupid to exist without their devine guidance.  I would pray to both of them if it wouldn't piss off the real G*d (Rudolf von Bernankenstein).

Thu, 07/21/2011 - 12:48 | 1477547 Corn1945
Corn1945's picture

Who would buy a 30 year bond from the US, a country with a history of currency debasement?

It gets to a point where people deserve to lose their money.

Thu, 07/21/2011 - 12:53 | 1477585 LMAO
LMAO's picture

Who would buy a 30 year bond from the US, a country with a history of currency debasement?

The FED!

LMAO

Thu, 07/21/2011 - 12:56 | 1477591 hedgeless_horseman
hedgeless_horseman's picture

No below average portfolio manager of a below average portfolio ever got fired for buying U.S. treasuries.

Thu, 07/21/2011 - 13:47 | 1477830 Temporalist
Temporalist's picture

Below Average...the New American Spirit of Excellence!

Thu, 07/21/2011 - 12:49 | 1477553 SeverinSlade
SeverinSlade's picture

I called it.

PMs are sinking on the news.  It's incredible how easy it is to call the elites on their game.

Thanks Blythe and co!  We all appreciate the discounts on PMs!

Thu, 07/21/2011 - 13:10 | 1477689 papaswamp
papaswamp's picture

Asia has been hoping for this...they will load up.

Thu, 07/21/2011 - 13:21 | 1477743 SeverinSlade
SeverinSlade's picture

Agreed.

Everyone is freaking out about the new silver contracts launching tomorrow via HKMX.  I'm not so optimistic.  The last thing China wants to do is push up the price of the metals.  They are BTFD just like us.  HKMX will be more of the same.  Only difference between them and the COMEX is that HKMX gives China direct access to physical metal. 

Thu, 07/21/2011 - 14:06 | 1477915 SamuelMaverick
SamuelMaverick's picture

I disagree. The new exchange will offer sellers a new outlet to sell PM's, the end result will be a more free price discovery, and could give London and Comex ( JP Morgan) fits.  It is all about getting more control from the US and Europe.  Then again, maybe the new exchange might be in bed with Comex and if so, all it will be is more of the same BS.  I am personally betting on the Asians wanting more control over their economic future, and their desire to kick the hell out of the European and US bankers, market makers and governments. Dont forget about the soon to be opening Pan Asian Gold Exchange in the next month or so.  These exchanges could be game changers.   Good Luck.

Thu, 07/21/2011 - 12:49 | 1477556 Archimedes
Archimedes's picture

Whoa! For a second I thought I was at the Market-Ticker with the:

Here it comes!

 

 

Thu, 07/21/2011 - 12:49 | 1477557 LawsofPhysics
LawsofPhysics's picture

More like greece everyday.  Waiting for the yields to explode on the 7-year and 5-years so that I can sell that paper for some more physical.

Thu, 07/21/2011 - 12:50 | 1477561 r101958
r101958's picture

Another head fake to keep oil, gold and silver below 100, 1600, 40 respectively?

Thu, 07/21/2011 - 12:50 | 1477562 qussl3
qussl3's picture

LOL lots of BS coming out now.

Deal no deal.

Some fucker is making mint jerking this shit around.

Thu, 07/21/2011 - 12:51 | 1477564 Oh regional Indian
Oh regional Indian's picture

Nor sure I want to know too much about surging boners when in the presence of YoMama.

ORI

http://aadivaahan.wordpress.com/2011/07/16/66th-anniversary-of-trinity-and-thoughts/

Thu, 07/21/2011 - 12:51 | 1477565 Jason T
Jason T's picture

DENIED!  @#%ing smoked!

 

 

Thu, 07/21/2011 - 12:51 | 1477566 carbonmutant
carbonmutant's picture

 Is this an exit strategy for smart money?

Thu, 07/21/2011 - 12:51 | 1477568 sheeple
sheeple's picture

LOL did JRogers shorted the long bond recently?

Thu, 07/21/2011 - 12:53 | 1477580 r101958
r101958's picture

Like I said above.

Thu, 07/21/2011 - 12:58 | 1477614 camoes
camoes's picture

He always said he was an awful market timer and that you should watch CNBC, Bloomberg and Fox News to know what to do...

Thu, 07/21/2011 - 12:53 | 1477575 Franken_Stein
Franken_Stein's picture

 

The classical drama finding its inevitable conflict resolution after the retarding moment.

 

Oh Romeo, oh Romeo.

Oh Juliet.

 

Here it is:

 

The classical pyramidal structure of a drama according to Gustav Freytag:

 

1. Exposition

2. Rising plot development with arousing / triggering moment

3. Peak and peripety

4. Falling plot development with retarding moment

5. Conflict resolution = catastrophe

 

http://www.magic-point.net/fingerzeig/literaturgattungen/drama/drama-fre...

 

Thu, 07/21/2011 - 13:15 | 1477717 DOT
DOT's picture

Another element may be the addition of a setting in which we can suspend dis-belief.

Thu, 07/21/2011 - 12:52 | 1477576 Archimedes
Archimedes's picture

Hey! We are gonna go 2.5 Trillion deeper in debt so buy stocks! Comical.....

Thu, 07/21/2011 - 13:01 | 1477627 dbach
dbach's picture

Also curious how a flood of debt incites a gold sell off. Initial reactions never seem to make sense.

Thu, 07/21/2011 - 14:32 | 1478015 Iam_Silverman
Iam_Silverman's picture

"curious how a flood of debt incites a gold sell off"

Maybe some of the "smarter" fund managers are selling of their PM holdings in order to "take advantage of" the new T-Bill offerings with much higher yields?

Thu, 07/21/2011 - 12:52 | 1477578 Everybodys All ...
Everybodys All American's picture

Somebody at the NYT needs to go to jail.

Thu, 07/21/2011 - 12:55 | 1477592 lolmao500
lolmao500's picture

And lots of people at Der Spiegel too... after all the BS they pulled with Greece.

Thu, 07/21/2011 - 12:52 | 1477579 alien-IQ
alien-IQ's picture

what a fuckin circus.

Thu, 07/21/2011 - 12:55 | 1477594 r101958
r101958's picture

Panem et circenses.

Thu, 07/21/2011 - 12:53 | 1477581 YesWeKahn
YesWeKahn's picture

Just buy buy buy, deal: Dow up 5000 points, no deal Dow up 1000 points. There is no risk, BUY!

Thu, 07/21/2011 - 12:53 | 1477584 Cassandra Syndrome
Cassandra Syndrome's picture

Is this the freaking Twilight Zone?

Thu, 07/21/2011 - 12:54 | 1477586 White.Star.Line
White.Star.Line's picture

Final edit done on Press Announcement CHECK!

Numerical entries verified for financials upload CHECK!

Both fingers placed on ENTER key CHECK!

Launch in 3....2....1 CHECK!

Thu, 07/21/2011 - 12:55 | 1477595 inkarri9
inkarri9's picture

And as always, no one is held responsible.  

Thu, 07/21/2011 - 12:59 | 1477617 Amish Hacker
Amish Hacker's picture

Everyone is guilty; no one is responsible.

Thu, 07/21/2011 - 13:27 | 1477758 brew
brew's picture

Who wants to responsible? When ever anything goes wrong, the first thing they ask is: who's responsible for this?

Thu, 07/21/2011 - 12:56 | 1477600 Archimedes
Archimedes's picture

come on! Really? I am gonna start a rumor that I have found Gold in the Gowanus Canal. Let's watch these F**kers jump in there!

Thu, 07/21/2011 - 12:57 | 1477606 r101958
r101958's picture

Dow up 50 ....then down 30....lol

Thu, 07/21/2011 - 12:58 | 1477611 Cassandra Syndrome
Cassandra Syndrome's picture

Paul Krugman off in la la land again?

Thu, 07/21/2011 - 12:59 | 1477612 monopoly
monopoly's picture

Yup, an absurd circus with nothing but freaks in the main ring. So, they are selling gold because we have an agreement on raising the debt ceiling??? Huh. I did not buy my gold, silver for a yes or no on the budget, it is because of the debt and the fact that it is too late to save the system. Asking for another 2 trillion which would bring us to over 16+Trillion. That is so insane as to be mind boggling.

Not budging from my positions and daytrading this market is nothing short of idiocy.

Thu, 07/21/2011 - 13:02 | 1477638 Long-John-Silver
Long-John-Silver's picture

Buying opportunities aplenty. May the dips be with you.

Thu, 07/21/2011 - 12:58 | 1477613 YesWeKahn
YesWeKahn's picture

We just need a few more of this type of rumors to push the Dow to the infinity. At that time, the FED will promise to buy anything that is sold. Here we go, the american dream finally come true: infinity of money supply.

Thu, 07/21/2011 - 12:59 | 1477618 Theta_Burn
Theta_Burn's picture

Now thats funny

Thu, 07/21/2011 - 13:00 | 1477621 Long-John-Silver
Long-John-Silver's picture

I think I'll have a bread and meat sandwich to go with this circus.

http://img.megatorrents.kz/graphic/images/2010/January/11/443A_4B4B1327.jpg

Thu, 07/21/2011 - 13:00 | 1477623 monopoly
monopoly's picture

What a sick, broken market. No shorts.

Thu, 07/21/2011 - 13:00 | 1477624 Mike2756
Mike2756's picture

One wonders when everyone throws in the towel for good, lol.

Thu, 07/21/2011 - 13:27 | 1477630 Boilermaker
Boilermaker's picture

We're Saved!

<UPDATE>  We're Fucked!

Thu, 07/21/2011 - 13:39 | 1477802 cougar_w
cougar_w's picture

i loled

Thu, 07/21/2011 - 13:01 | 1477631 ThirdCoastSurfer
ThirdCoastSurfer's picture

Isn't every 100 point move in the DOW representative of $75 billion in market cap? I'm sitting here with my finger on "Buy at Market" for any rumor or statement but I'm sure the HTF's and Algo's are minutes ahead of me. I just continue to wonder where the money to pay the bills at all those trading firms is coming from on such low volume. For someone to win someone's got to lose and it takes $50 billion a quarter just to pay the bonus at Goldman. Come on Uncle Ben, cook us more rice!

Thu, 07/21/2011 - 13:03 | 1477644 monopoly
monopoly's picture

When they finally agree to raising the debt ceiling that is the time to add to miners, not sell. What a farce this all is. We are being laughed at around the world. The newest banana republic.

Thu, 07/21/2011 - 13:23 | 1477752 SeverinSlade
SeverinSlade's picture

All about timing.

You'll definitely want to accumulate miners on the news.  But miners WILL trade down on a deal.  Look at what happened today on YET AGAIN another RUMOR.  PMs and PM miners will drop following the official deal.  I'm guessing that 1-2 weeks before QE3 is rolled out, PMs and PM miners will begin to rally.  The further equities fall, the more and more obvious QE3 will become.

Thu, 07/21/2011 - 13:04 | 1477651 papaswamp
papaswamp's picture

whiplash biotchez!

Thu, 07/21/2011 - 13:04 | 1477658 randocalrissian
randocalrissian's picture

This reminds me of all those times daddy fondled me when I was six.

Thu, 07/21/2011 - 15:47 | 1478415 richard in norway
richard in norway's picture

off topic!!!

Thu, 07/21/2011 - 13:05 | 1477659 gatorontheloose
gatorontheloose's picture

zsl /agq tracking is all fucked up right now, careful

Thu, 07/21/2011 - 13:05 | 1477660 Leo Kolivakis
Leo Kolivakis's picture

Bend over and grab your ankles shorties, this one's gonna huyyytt!

Thu, 07/21/2011 - 13:07 | 1477668 Bob
Bob's picture

You're begging for it now, Leo. 

Thu, 07/21/2011 - 13:16 | 1477724 TruthInSunshine
TruthInSunshine's picture

Leo is starring in a Broadway Play titled 'Don't Cry for Me, Taxpayers!'

It's a tale of love, lust, greed, entilement and redemption, and tells the story of a 48 year old career civil servant who makes 168% what his peers in the private sector do, who retires with 140% of his last annual salary at (yep) 48 years of age, with lifetime benefits on health insurance, life insurance, a vehicle allowance, and then takes two other full time jobs with government, earning 2x 168% of what his peers in the private sector do, but at least he already has health and life insurance, and a car!

Thu, 07/21/2011 - 13:49 | 1477829 cougar_w
cougar_w's picture

Yes I've seen the script.

He retires, invests in Detroit real estate, and then has all his land seize via eminent domain for 1 cent on the dollar to make way for a new Disney automobile-themed amusement park. 

He dies penniless in a gutter on opening day, within sight of the new World of Combustion Pavilion.

I heard they are trying to get Andrew Dice Clay to play the lead.

Thu, 07/21/2011 - 14:03 | 1477896 TruthInSunshine
TruthInSunshine's picture

New World of Combustion Pavillion sounds exotic, magnificent and everything Leo has aspired to.

Thu, 07/21/2011 - 14:20 | 1477966 Cognitive Dissonance
Cognitive Dissonance's picture

I've been waiting to see the softer, kinder, more gentle Leo he announced was emerging from the cocoon.

Still waiting.

Thu, 07/21/2011 - 14:21 | 1477971 SamuelMaverick
SamuelMaverick's picture

The sad thing is that what you wrote is 100% true, esp. in my State, the great bloodsucking parasitic state of New York. I know way too many people that retired from the state and are living like kings, way better than any private sector retiree.  

Thu, 07/21/2011 - 19:56 | 1479133 Bob
Bob's picture

You make me wonder wtf happend in the "private" economy around here.  It was pretty even until about 30 years ago. 

Thu, 07/21/2011 - 13:06 | 1477665 samsara
samsara's picture

I can see Tyler's next post.

"Insider sellers/buyers ratio Update - 6 Million to 1"

Thu, 07/21/2011 - 13:09 | 1477672 plocequ1
plocequ1's picture

That and the compression schtick

Thu, 07/21/2011 - 13:08 | 1477670 Franken_Stein
Franken_Stein's picture

 

These chimps are really fast.

Turbo-chimps.

 

Thu, 07/21/2011 - 13:14 | 1477714 plocequ1
plocequ1's picture

Damn those machines are quick. I came back from my bowel movement and WHAM!!! The market ramps up. As uncomfortable as it may be, I will try to hold it in next time.

Thu, 07/21/2011 - 14:38 | 1478041 Iam_Silverman
Iam_Silverman's picture

"I came back from my bowel movement and WHAM!!"

I'm sure that there's an app for that.  You can either take an iShit, or trade from the toilet with ScottTrade on your iPad (or Mac Airbook).  Your choice - but Steve is expecting you to buy his stuff.  Go, now, buy!

Thu, 07/21/2011 - 14:52 | 1478116 cosmictrainwreck
cosmictrainwreck's picture

LOL.... I betcha the R&D depts all over this shit (so to speak)

Thu, 07/21/2011 - 13:09 | 1477675 rsnoble
rsnoble's picture

Gee, and imagine all the ridicule I got when I covered some shorts last friday complaining of a 500pt rally on a debt deal.  We're almost at 500 with no deal announced yet.  Imagine that.

Thu, 07/21/2011 - 13:10 | 1477692 bill1102inf
bill1102inf's picture

We will blow through 13000 when it is announced.

Thu, 07/21/2011 - 13:12 | 1477702 Clowns on Acid
Clowns on Acid's picture

Likr the mind bendingly moronic TV Show.."Deal or No Deal!" The monosyllabic feckin morons on CNBC are clucking like chickens.

Barry the Kenyan or Boehner would be stupid to "do a deal" until next week. They have to play the Lame Stream Media card this weekend for full effect.

Fade the ES rally (stops of course), close out tomorrow.

 

Thu, 07/21/2011 - 13:14 | 1477715 dcb
dcb's picture

man the crap move happens in less than a minute and if youare attempting to trade, ugh. this is why hft, has to go!!!

Thu, 07/21/2011 - 13:16 | 1477725 TradingJoe
TradingJoe's picture

A One Time, Last Time, Sugar Rush! Debt is Debt and is for the sane among (US) NEGATIVE! So, DOW +300 at first then..woooossssshhhhhhh! Got more puts today! :))

Thu, 07/21/2011 - 13:21 | 1477744 dcb
dcb's picture

OH by the way if you draw a paralell channel for tbt, the move also happened to happen at the bottom of the descending channel. tlt, tbt

Thu, 07/21/2011 - 13:31 | 1477773 bugs_
bugs_'s picture

obama and boehner have major deal in hand LOL

Thu, 07/21/2011 - 13:35 | 1477788 jkruffin
jkruffin's picture

So, tell me again, who voted for those lying scumbag Tea Party Republicans who were going to change things?  This whole country is a lying joke. These people care about themselves and that is all they care about.  Whoever voted for any of these clowns deserve what they get, because none of them keep their word, EVER.

 

Thu, 07/21/2011 - 13:41 | 1477811 Quixote
Quixote's picture

. . . and make other adjustments to produce revenue gains.

 

Maybe they can put an excise tax on all OMO activity and a duty on international discount window loans. Just start skimming off the top a bit.

 

I hope this does not lead to a VAT.

 

 

Thu, 07/21/2011 - 13:56 | 1477843 virgilcaine
virgilcaine's picture

Imagine they save Greece to let the US default.  The long bond would take every RISK asset down with it.  Looks like TLT is going back to the Feb low at 88 if that breaks watchout.

If they do a deal or not the Downgrades are coming.. = Bond Bearish.  Even the most despised thing on the planet TBT has a nice double bottom.

Thu, 07/21/2011 - 13:56 | 1477875 SheepDog-One
SheepDog-One's picture

'Major budget deal'? Wheres any detail of it? Nevermind all that, any news-good news, ramp markets to 2007 highs!

Thu, 07/21/2011 - 14:05 | 1477910 TruthInSunshine
TruthInSunshine's picture

Good news and volume are not needed to ramp equities higher, anymore.

I know you knew that. The market is rising unicorn farts and skittle/gorilla dust.

Thu, 07/21/2011 - 14:10 | 1477927 gimli
Thu, 07/21/2011 - 14:20 | 1477968 newbee
newbee's picture

IMHO, the weekly chart of SPY says it all for me.  It's rolling over just like the last half of '07.  But who knows ... I'm not long on this crap, watch out this fall ...

Thu, 07/21/2011 - 14:28 | 1477992 PulauHantu29
PulauHantu29's picture

I got whiplash this morning watching the charts...and the BS from MSM.

Thu, 07/21/2011 - 15:46 | 1478413 ivana
ivana's picture

Don't forget that many US bond holders are long term VIP customers, "strategic partners", dictators, geopolitical VIPs, oil magnates, emperors etc etc.

They will not be happy seeing bonds dropping in value. Some of them will be reimbursed some other way.

But some will be really angry and screaming on phone. + speculators which will seek their chance for quick profit.

Assume that's why we'll see such violent swings more and more - is there any VIX for bonds?

Thu, 07/21/2011 - 15:51 | 1478435 HUGE_Gamma
HUGE_Gamma's picture

price goes ack 4 hours

Thu, 07/21/2011 - 18:07 | 1478869 boiltherich
boiltherich's picture

All I want to know is where is my goddamned helicopter filled with cash!

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