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With Volume 40% Below Average, Closing Market Commentary
A perfectly efficient market, confirming the EMT day after day...
...On massive volume
Our sincerest condolences to any idiot who still trades stocks.
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Today was pathetic. So 830 rolls around, ok, retail sales disappointing - GO FIGURE. Then the clusterfuck started...oh shit...lets see, May was the worst month for stocks in 40 years, and consumer sentiment was HIGHER? Right. Whatever. Kills all the shorts and then some.
Should we blame the grind higher on the world cup for the coming weeks?
Totally concur with you simply pathetic recap. A phone survey of 500 people and 50 questions trumps initial jobless claims, unemployment and retail sales. Pathetic basically sums it up!
Let's not forget that Mary Shapiro and her band of incompetents endorse market manipulation as long as the direction is up.
The Vigilant Grandpa
We surveyed more people in a shampoo market survey. And the difference in the consumer confidence actuals vs. expectations would hardly be considered statistically significant. Such a joke - and they and all the other "playas" know it.
Ya..............the 500 they surveyed were all in the Everett Dirkson Building.....
"JOKE" doesen't even begin to describe it.......
Next week is quarterly Option on Futures Expiration Friday. This is typical action where the largest seller of put options (Goldman Sachs) guns the market higher to destroy the puts. Its been going on for the last 15 years.
The week of option expiry is deadly for put holders.
http://www.cnbc.com/id/37641811
Can we have a nice crash to return to the 100 yrs mean already? This is a toture, I am hating it, the prop desks are melting this stupid thing up yet again, what a waste of time. Hope fin-ref close prop desks.
As long as the Fed is toting the note on this economy we will see more of the same.
The problem must be attacked at its roots -- and we mortals just can't get there.
The fetid weed is going to have to die on its own by choking itself.
Back to gynecology school, geesh!
Wait till you see a blue waffle. You'll quit.
wow - I have no idea what that is - but it doesn't sound good - hmmm... guess that's another job I can put on the "no interest in that shit" list
more.......... I must know.... blue waffles sound tasty
I hate you so much right now.
<--- just GIS'ed "blue waffle" promptly followed by multiple sessions of vomiting profusely.
I though Benranke made me sick... Why the hell they started to talk about this?!
Motherfucker. I followed your lead, and now i cant unsee that. Makes goatse look like an lolcat.
Blue Waffle [bloo-wof-uh l] : A battered or infected lady cake of blue or green colouring, often brought about by extreme rammage to the female taco ...
Makes me want to "run for the border" !!
roflmao
"Quiet, we'oe hunting wabbits." -Bawknee Fwank
...and wascally wabbits at that!
Sorry I can't do that Dave...
James Lorie never met Ben Berbungler!
"Our sincerest condolences to any idiot who still trades stocks." Well, the bright side of this (I guess *gulp* should I survive long enough) is that when the market falls over, it falls over quick.
my take, the melt-up yesterday was pure fed/treasury manipulation through their prop desk buddies. Can you imagine today's retail sales release with the spx in the 1050's, new lows then see ya. now we are all set to reenter the melt-up monday routine again. It's not a market, it's a policy tool.
+1. When I saw the drop after the retail sales numbers, I suspected yesterday's pumpage was meant to offset that. Couldn't have anything below the 1050's this week...
It's a tool, alright!
Never mind end-of-day low volume meltups. France couldn't score a winner against Uruguay in the final 9 minutes of the match.
And that too with 10 men Uruguay. I guess you cannot win a match without using both your hands to score a goal and win a match.
It simply does not pay to go short against Ben Bernanke's QE bull-crap machines.
I have not shorted since Feb-09. I tried shorting a couple times last year and kept getting taken out. Forget it.
Stocks, treasuries and the dollar were up today. Xmas in the summertime!
Hansel,
yep,but they did make sure Spot Gld stayed under $1230.00...........SOB's.
Blackrock on Bloomberg on China and gold, popping nonbubbles:
http://www.youtube.com/watch?v=ctXWt_pH0u8&playnext_from=TL&videos=Xz-6q3tRyKE
They got hurt with their shares of BP and lack of insider knowledge (from Haliburton), but will they still come out ahead in the long term?
Wow...
Airlines are going wild today:
That's it! They totally need to bring sexy back into flying. Make it like James Bond airways or something kewl.
LOL, didn't know Kazakhstan had a national airline.
Hey, don't post my pictures.
Hey Leo, thought you may like these links; http://bbs.chinadaily.com.cn/viewthread.php?gid=2&tid=670238&extra=page%3D1, http://www.jaecpark.com/images/JG14.jpg PS how do I post pics???
Oh Kreeeist!
The babe on the left is one of my son's drinking buddies in drag.
Disturbing.
Yeah the changes in porn have changed the kids. Just saying.
http://www.youtube.com/watch?v=WgOIEGz7o_s
Smashing Baby!
Airlines are actually making money. I mean what's left and who is left. Try and get flights for cheap anywhere. Good luck!
Nice, but I prefer open-toed spaghetti strap-ons!
OH....I don't know what they're selling but I want one.........just don't bring the Blue Waffels........
Bring on the Sam Adams Beer and the 15-year old Ukranian Escorts.
Another big weekend out at The Hamptons:
Have so missed you RobotTrader. Where have you been!
+100
What I want to know is, that if nobody's buying and nobody's selling, WTF are they doing with all that crap paper? Who is just sitting on that digital garbage watching their cap disappear? Sheesh, not even paper anymore. A stock in a company is what? I don't even know anymore. Poker chips in a rotting casino.
chemba,
I agree with your thought. I have shorted a few the past week and all have failed. Yet, I will not own any crap so from now on will keep my gold, miners and cash and buy more physical on any dump. Just not worth the effort.
Good post. +1
"Wow, did you see that reversal??"
"No, sorry, I wasn't paying attention..."
All boobflation since the crisis began. Wearing tight tops and saying "We are UP!" with a smile. If these ploys don't work to raise viewership and the market, then nip slips are next.
Thank God women have finally given up on all that feminist bullshit about how men should be paying attention to them because of their mind.
Viva la siliconia !!
Wow, Robo is on a roll today.
Nice job as always, RT.
ROFLMAO! If we ever have another meltdown, they're going to put her in a tub of ice before she goes on camera.
Looks like some trend traders got caught in that PWRD melt up. They received their "confirmation" that the stock would continue its decline, took the bait then, took it in the rectum. That's showbiz.
As as aside, those MCC pics clearly illustrate why Erin Burnett needs to be removed from CNBC. Small breasts like hers simply have no place in financial television.
They live! The busted system lives to see another day, another week. The beauty of reflation is you can defy Newton's Law of gravitation. It will never come down, even if the world crashes around it! But the question is, does it rise fast enough to keep up with the rising needs?
Using the $330 Q1 number from the Fed Dummy Household Sector story above this one that is about $5+ bil per day for the 62ish Q1 trading days. Wonder how much today cost them? The idiots probably figure they'll distribute the millions of shares they're buying now when the market is zooming above these levels on its own. They better be ready to hold for a few years then. Oh wait, there I go again thinking they actually have a fucking plan and aren't just mindlessly, desperately buying, buying, buying to fend the inevitable off for another day. They'll probably be forced to sell to raise funds when we get to the bottom ... geniuses.
Those shares they bought are the new "Social Security" - that's how they are going to pay you back
It's the old "extend and pretend", better bring down the dome chief.
Edit: Sorry I was mistaken.
Altogether shout it now,
There's no one,
Who can doubt it now,
So let's tell the world about it now,
Happy days are here again
...
http://www.youtube.com/watch?v=IPiNIzSM3RQ
Stop bitching. The bearded sugar daddy told you earlier in the week that he doesn't see a double dip. Which translated from FED-talk means "I won't allow this market to double dip"
GS & JPM got the memo, didn't everyone else?
(ANYONE WHO IS PARTICIPATING IN THIS FRAUD OF A MARKET RIGHT NOW DESERVES WHAT THEY GET. GET OUT AND STAY OUT.........sorry for screaming)
I don't know about you, But I'm taking Steve Millers advice, " Wo - oh take the money and run"
You know plocequ1 knows juuuust exactly what the facts is
And in the markets today... Okay. Who's been monkeying around with the teleprompter? I can't be seen saying the same thing at this time every day! It just doesnt... you know... look good? Hey! Its Friday! Happy hour, and the first round is on who ever screwed this teleprompter!
The machine is back in full vigor. There was a problem with the software. Ben called the Friendly people at Dell and everything is ok now. Dow to 36,000.
March 2009 is back. Don't miss the boat - again.
Ramp jobs at the end of day. Blowing out short plays. Capitalizing on short coverings. Spread doom & gloom to position everyone on the short side (short ETFs) only to take that money off the table. SRS did a split for a reason. This sucker is going down - again.
You cannot trade against the Fed which is the Wizard of Oz with unlimited capital and millions of strings to pull the people up or down.
Just because we have exposed the Wizard and have started to look behind the curtain, doesn't mean the Wizard is rolling over and playing dead. The Wizard just becomes more creative in the way he pulls the strings.
What was surprising about the late day rally? Its not manipulation. We are still oversold and breaking above resistance from last Friday. When everyone and their mother is bearish the smart money is done selling for the week at least. I dont get what everyone is bitching about. If you cant make money on that then yes you probably shouldnt be trading.
As long as we open lower on Monday, I'm just fine and dandy.
Rinse, Wash, Repeat.
Trading patterns are called patterns for a reason.
Was wondering why GS bought the SPY futures en masse yesterday.
Did they get advance notice from Ben about QE2?
Whoa!
I was on Market watch all day. All my calls were spot on.
**** ground shakes as the bulls rumble through the close *****
Booooya!
And you should stay on MarketWatch
It's a pretty good site, I think I will, their headlines make me lol, and I love how they reset the comments section when the doom get's too deep. I Finally got around to registering.
Ditto. Love your teeth taraxias.
You meant to say "tooth", right?
He reminds me of one of my Ozark cousins -- the upper class ones.
I don't think there were enough of them to actually 'rumble'. Still, market needed at least a little bounce to unwind some of the negative sentiment and put the media back to sleep. Big test is 200dma.
While I agree, VIX close under 30 made me a little nervous.... jus a little.
I just found a video where Fast Money says there will not be a crash because of the PPT. Since when was that not taboo? Didn't anyone tell them? The first rule of the PPT is you do not talk about the PPT!
"I believe in the Plunge Protection Team."
Do you believe?! I believe!!
Dow will drop from 10,000 to 6500 says Richard Russell:http://www.youtube.com/watch?v=nqW7LzhRuk4
I would like to see all these expert's trading results, then we will see who will listen to them. Never ever happen.
Funny they bring up all the Doom and Gloomers that have been wrong, but never bring up the continuous bullshit (wrong calls) all through the falling of the market in 08-09 on their network.
They make billions Rick, shut up and buy their books.
I don't read books, are you crazy. Do they have DVDs?
I's sorry I am so upset I can't write. we clearly have the buy every dip camp in there and tat is going tohappen regrdless of anything. the markets have been manipulated like crasy. it isn't about funding corporations and price discovry. it is about allowing max profits to goldman and their prop dsk algos.
I'm starting to root for the taliban ovr our own corrupt government that has allowed this crap.
The taliban allows old men to marry 9, 10 and 11 year old girls. I understand your frustration but intolerant theocracies are the playground of fascists. They can also create places for predatory child molesters to prey on those they claim to protect. Catholicism and Islam have much in common.
Off to Grand Prix celebrations and French Canadian hotties still rule:
the best, the hotest...
http://www.youtube.com/watch?v=H3VOO49XbdQ
Great player but he will never forget Euro 2004:
nice.... 6 years later all hope is gone...
Yup, if Greece plays like they did against Korea, they're toast. What an embarassment.
That was painful to watch, Leo. It seemed that they gave up after the 7th minute.
Totally lack any cohesion as a team. It will be a miracle if they come back.
Leo,
Stop showing off. These can't possibly be Canadian women. They are way too, too attractive to be Canadian.
What is the #1 reason Canadian women flee to So. Cal. shores?
Ans. a) to see the sun again;
b) to escape from Canadian men named Leo because there are no real male lions in Canada;
c) to feel like a woman;
d) to obtain better boob jobs because the doctors in So. Cal. do so many; or
e) all of the above.
(Do I really need to give you the answer?)
Why do so many hot broads go to Cali? For dreams of success in hollywood, which ultimately lead to porn.
Your 'logic' only tells me youre a closet-homo.
I am sorry, ZeroPower. I didn't mean to offend a male lion Canadian. I must learn to be more careful or risk being labelled a "closet-homo".
That really hurt. I think I am starting to cry right now. Hey, look, some Cali girls are coming over to comfort me in my distress. Dang, ZeroPower, thank-you!
Love to short. Always wait until the last two minutes of the day to execute those trades for the reasons stated in this piece. I know, the market could go higher. Who cares? It's coming back down to earth and I'll start to go 3x if it's really stupid.
Love those insane pops in 3x shorts that occurs when it all falls down. Can't hold 'em long with that long-term decay thing going on. But, what a beautiful thing they can be.
Ain't no glory in buying stocks long or owning 3x longs. If the market goes up, everybody thinks their rich, only they aren't. Prices merely rise and the same crap costs more. I'll just drive and buy less when the times are good. Ain't the time to buy houses either, unless you like a foreclosure on your credit record.
I love the smell of bears. I love their skanky fir and mean, tough dispositions. I love their brute strength. Bears are the most beautiful animal on the planet. I want to be one from now on until the cows come home and it is safe to be a bull again. But, from now on, by the looks of it, it ain't never gonna be safe to be a bull again. All you've got is a butcher to look forward to.
Long live Zero Hedge. Long live Tyler Durden and Marla Sanger. May your servers never reside on U.S. soil and may they never go down again.
Although HFT is certainly behind the market meltups on low volume, today's post triangle thrust was textbook Elliott Wave. Perhaps HFT can distort the up swings, but the underlying structure demonstrates the tidal wave of social mood still governs market direction. The only thing HFT manipulation can do is store up downward energy for the inevitable fall. They have really made a mess of things, and all of the tinkering will only make the crash worse.
I don't know about you guys, but I'm making a sh!t-ton of money trading stocks. I went short in April, right after the high was put in, a little early, sure, but I did quite fine, thank you.
And I've been calling the market action to a T for the past 2 weeks. And it's all confirmable. Check my twitter page - http://twitter.com/sigma_x00 - right after the second drop in the futures yesterday, when the Consumer Confidence # came out, around 9 o'clock, I tweeted "Despite horrific retail numbers, I believe the market will close green today." And it did - big time. As it will next week, too. Anyone with half a brain knew that they're not gonna let all those puts expire in the money next week.
I've been killing it. Bought 25K shares of NLST on Thursday avg in @ 1.87. The thing went as high as 2.79 in AH trading. I expect to make about $40K on that one trade alone.
Is this Zerohedge? Am I on the right board?
Stop bragging vicelord. Pride precedes a fall.
What percentage of your portfolio is in gold? And I don't mean GLD.
That alone will determine your prowess.
How long will you stay at the blackjack table?
I think he may be saying that with high volatility, now is the time to trade. We don't even have to figure it out ourselves. Reggie and Meredith Whitney say short the squid. I started at 148. The squid is only people and they are not smarter than Reggie, Meredith and us.
Wrong Pooh-Bah, the squid ain't smarter than anyone. Even a chimpanzee could make money if the game is rigged.
Agreed. Just saying that with the knowledge that the market is rigged and to an increasing degree how it is rigged, along with some of the intelligence and analysis on ZH, we are far from out gunned.
.
Buying support continues ...
DOW updated charts:
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1