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Pent up demand anyone? It may be time for Bernanke to do another POMO... oh wait...oops
Ben is shooting blanks? Say it ain't so Ben, say it ain't so.
Nurse, more Viagra over here, stat!
FED's seems to been played like a fiddle by the market since March...?
Does Ben really care about equities, except when moves satisfy his needs for proclamations in the public domain?
I think Ben's priority was the old FED play book.
Priority #1 stabilize real estate prices while deleveraging real estate debt through MBS buys. FHA+8K FTHB.
Priority #2 create a turnaround in GDP numbers. Stimulus+CFC+300B POMO+Low FF rate.
Well, as misguided as it seems, he was some what successful. But, are we surprised at the FEDs reactionary moves. Not really. As mightily as I try, I seen no forward guidance from the FED or the Administration to protect the Dollar or the economy. We are leaderless in terms of proactive policies. Unfortunately it seems, they only respond to crisis.
My mental picture of Ben B. is like a child persistently kicking a ball uphill, and wondering why it rolls back down. The Father, upon seeing this, asks the child, "do you expect the ball to remain near the top of the hill after you kick it and not roll back down?" and the child replies, "Oh thats what a hill looks like".
VIX vs. Ben Bernanke.. Will it blend
Moin from Germany,
sorry to spam ZH but i think this "smoking gun" :-) from Art Cashin got lost.....
This is a must see clip!
Assets out there are still so extremely contaminated with disease, and the extreme volume of contaminated assets coupled with the total indebtedness of the US to the tune of nearly 100 trillion dollars, makes it statistically guaranteed the US will have a complete and total economic collapse in a relatively short period of time.
you need to watch this.
I saw Fall Of The Republic, it was very well done. People need to take their heads out of their ass, as well our government and MSM need to stop lying to the people, even though more and more people these days don't believe a goddamn word they say anymore.
See...the problem with the whole head in the ass syndrome is....it leaves now where for the government to stick it to you. They pretty much prefer the head in sand syndrome, so while you are busy sticking it in the sand, you are propping your ass up for a nice fucking by the government.
Moral: Never put your head where it don't belong...the Government is sure enough to do nasty things to you while your not looking......
Thanks for the link ghostface.
That's Nancy Pelosi without her makeup.
Alex Jones is a hysterical fairy in the service of our oppressors. Our problems are not global in nature. Our homegrown elite is what has us down. To try to cast this tragedy with globalization as the villain is disingenuous agitprop.
I wonder what the asshats at "Fast Money" are going to say today?
They are waiting for the "money on the sidelines" to step in.... ;-)
"I guess we owe Rosenberg lunch"
Oh, you just missed them...they don't feel so good about it "going to the sidelines, a little worried about Monday." No shit, a 20% 21% (going up faster than I can type) move in the VIX and you are just a little worried. That is the biggest group of ass-clowns on that stupid channel. Oh, but no fears they are expecting the dip buyers any second and they KNOW the market will be higher at year end.
All I know, is this is the first day in a very long time that the market seems to be acting much more like one would expect. I will say I am not convinced that it is meeting with rational thinking and fully expect someone may power blast this thing green by 4pm, but today is a day I've been expecting since March.
"It may be time for Bernanke to do another POMO... oh wait...oops"
Guess the market realized yesterdays GDP report was about as honest as a tokyo rose broadcast from July 1945.
OMG do you think they let Equities and Euro close the week out under all those support trend lines and the 50D MA? Somebody better cut lunch short and get back to work.
BUT they must have squeezed every last short out by now....uh-oh it's just the longs left for the HFT guy to scalp.
(Repost) Gold beginning to diverge from equities. Gold:Spx ratio just crossed 1.0 again for the first time since middle of July.
I am waiting for the Gold:Dow ratio to hit 1. ETA June 2010 is my best guess.
Totally. Can't wait for it. Although, with the amount of shit this time around, it might go even below 1.0. My portfolio is 100% Gold and Gold related investments at this point. What else are you gonna do? Short stocks? FWIW, I think there is much more money to be made in Gold than shorting stocks. Of course, I'll buy the occasional put or two just to humor myself.
Hey GG. Always look forward to your posts, and feel we are "birds of a feather". Question: No Silver or Platinum for diversification? Thoughts?
Thanks anon. Yeah, I do own a chunk of Silver too, but not Platinum. Sure it's better than paper money and more expensive than Gold (although that's because Gold has been suppressed for so long), but there I'd rather hold what the Central Banks hold :-). I feel the best gains will be in Gold. As far as Silver is concerned, I don't play in the futures but buy only physical. Gold I have physical and play in futures too. No position in ETF's.
I played the gold shorts this morning and made some.
This is a hedge trading strategy I've been using all year on days / weeks like this until a trend is clear.
No effen way in hell would I short gold, silver or any pm's and miners over a weekend or even end of day. The Dollar could go kaboom any day now and gold would soar 20% to 50% in no time. Keep buying the dips on gold mainly and play in and out on the short side but don't hold a gold short.
CIT was just halted.
looks like the truth of this fed pumped rally is starting to show.
What does POMO mean? No flaming please.
Permanent Open Market Operations
Below is a link to the finance section of wikipedia. Good stuff there.
PPT to the rescue. The CNBC clowns are feverishly spewing cheer leading garbage to try to prop things up. Fortunately, they only preach to the choir these days as their former better half, being the congregation, are gone.
.....and I'm short Vega, heavily short. GOD DAMMIT LEROY.
burn baby burn! VIX 90 here we come.
Reality rears its ugly head. Damn, it's ugly!
Look at the strength of gold. GDx down 5% with gold little changed. I'm a buyer of the GDX here, as the oracles on cnbc would say. Except they wouldn't say that of course.
Cnbc moronic female anchor just now: "Shouldn't you look into selling some puts on the SP500 now that the ViX is popping (breaking trend)?"
What the f...
Speaking of cnbc - the fact that their viewer base is down 50% would seem to indicate that the top isn't in yet.
for some reason the action in the vix and the date reminded me of this clip:
VIX bullish divergence has been warning us for some time now .............
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