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Watch The European Union Press Conference Over Ireland (And Other Things) Live
This is so deja vu of the EU press conference when the Greek bailout was announced on Sunday, May 9. Although this time there is no silver lining, as no deal has been reached. Anyway, here is the link for the EU press conference which so far is agenda-less so anything could be announced... or nothing.
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Flash crash on QQQQ at 2:25
~ETA?
3pm eastern, I think.
the first press conference was well over an hour late today. expect the same from this one. if they don't have a deal yet, then the conference will probably not occur until after the US markets are closed.
no conference should mean selling into the close... or buying :)
need help with the french translation here!
i had english selected but was getting french. refreshed a couple mins ago and it was fixed.
The Eurogroup press conference led by President Juncker has ended (what a perfect name for the President of the clusterfook Eurogroup). The good news is that Ireland still has not requested a bailout from the Eurobanksters.
The unclear news is that talks have moved to Dublin, with ECB and IMF con artists going to do cocktail napkin calculations with the Irish on the terms of a potential bailout. This move to Dublin could be just the Irish allowing the EU to pretend a bailout is in the works in order to calm the markets. Or, it could be some Irish govt pols are geting ready to accept a bailout.
1500ET
About twenty minutes.
Damn, this is so freakin' cool!
Thanks, Tyler.
Off topic:
Bloomberg: Pimco's Worah Says $100 Oil Will Be `Fair Price' in 2011
Na, thats on topic, oil at the fair price of $100 will mean any austerity measures or bailouts will have even less effect.
I think this is a step in the right direction. Political panels with zero announcements. How many times have politcal panels made an announcement and completely screwed things up? Now if we could just keep them from meeting....
Panic selling in the resource sector (FCX, BHP, POT, etc.)
PCLN holding that 400 level nicely. Looks like the high flyers will remain the high flyers. So long commodities, hello Priceline.
'Priceline', lol buy more then! You sound like a Yahoo!Finance goon.
When the bodies in the stagnant pond are decomposing, the bacteria thrive.
Big SIS is shorting PCLN.
Where's the "snapback" Harry?????
PMSL
As long as we keep these key support levels on SPX and AAPL - we're good. And, as they hold, it sets up the snap back rally. My timing is off a bit thrown by the EU conference being delayed but once that is settled, it'll rally big.
Back up the truck...we need you to support the market once the HFT dump their shares.
I know a website you may be interested in Harry. http://www.postgoldforcash.com/
FANTASTIC PRICES!
Man, it'd be fun to jerk their chains by asking how much they'd trade me for, say, 10 Gold Maple Leafs! LOL :>D
Roller coaster
of love
Say What?
Roller Coaster
uh-hoo-oot-hoot-hoot
Do you know something we dont Orly?
About what?
About a certain rollercoaster of love?
Selling your hours for a handfull of dimes
Not to be too picky but it's, "Trade in your hours for a handful of dimes. Gonna win baby, in our prime. Get together, one more time..."
Five to One by The Doors...
http://www.lyricsfreak.com/d/doors/five+to+one_20042584.html
Very appropriate lyric of the day!
Yeah you right
Dup...
Someone trying to shut down ZeroHedge?
I really hope Ireland stands firm, unhinge the whole mess.
same here! Its gonna and gotta happen - lets get it over with. Can't rebuild it without tearing it apart first.
1175 SPX was tested 3 times and each attempt failed. We are heading into the last hour, so all systems should be go to rally from here.
.
1174 ES is the monthly low so lots of support there.
Yes, that 1175 level goes back through March as a key level. It was resistance for a long time until it finally broke through. It's pretty strongly defended right there.
So ya feel lucky? Do ya punk?
Solid at 1175 .. er 1174 .. er 1173 ...
We held 1175 nicely. And, AAPL held 300. Both huge stick saves.
Hey, Harry, what does Cramer always say? PIGS GET SLAUGHTERED.
OINK, OINK!
Not sure why you directed that at me. My buys today were avg. 300.30 AAPL and 400 even PCLN. Not sure how that qualifies me as a "pig getting slaughtered" but if you insist.
Also, very key support levels held today. The stage is set for the inevitable bounce.
Minus 22 points isn't a test, it's a beginning. Spin yer cramer/bull plates all you want but you're whistling at the graveyard.
OH, ok...runnin to go find my rally monkey hat!
.
Massive short-covering, coming up!
I agree, especially in the high flying momo stocks like PCLN.
You sound like robo ~
:-)
SPY close = 116.5 - 117
119.22
Black Lab after the close?
You let me down with your QE2 call, Wanger. I'll have to tell the kids no toys for Christmas this year.
Goddamn you are truly funny Harry.
Does anybody else hear the voice of the Page/Receptionist from 30 Rock when they see Harry's posts?
Is it just me?
http://www.youtube.com/watch?v=XaytK7TXTiI&feature=related
Ive gone long with several shares of BRK.A - YEAH RIGHT! - Nothing but a big casino.
Senator Dodd himself said "this is bigger than the US Senate." And CNBC says..."where's my script?" Did take note..."the Bloomberg ticker is verbatim what's going on at ZeroHedge." Welcome to "the world's foremost business network." They're watching.....
CNBC jealous, Zerohedge is way bigger than they are and they know it.
Max Keiser report with Stacy and Michael Krieger
http://www.youtube.com/watch?v=EjIWH7CSP8U&feature=player_embedded#!
Precience
Foreshadow
Bottom of Screen
"Event Not Yet Started"
I sincerely hope that all the EU leaders have done is to modify the announcement in such a way that when they mention Greece, they included Ireland & Portugal indiscriminately throughout the text - in this way when they release the transcript it will indicate <Bankrupt Country du jour>
This is the moment wherer Herman von Rompuy declares that everybody must have one of five hairstyles. Anyone who breaks the code of style will be executed.
LOL, nice! I suggest the new haircut for all banksters be 'crew cut'.
Didn't the markets rally when Greece got their "bailout"? Why would this be any different? Right now, there is uncertainty and the market is reacting to that. Once we get an announcement, we'll fly. Hopefully before the market closes.
Yes, that is what Ben Bernanke said on last FOMC-meeting prior to QE2
Harry, put on the rally monkey hat and mojo bag necklace, rub it furiously!
BTW Harry, where are all the big POMO up days? Seem to be missing from the picture.
+++++ LOL
"Event Not Yet Started" - It just demonstrates again the impotency of the EU leadership. With the US locked into QE2, looks like they are all out of bullets!
They should change that to 'Event Horizon not yet Started'....make it interesting, add some drama.
That was funny.
:D
Popcorn is ready ....
might need to make another bag by now...
Harry- I would've though 1183-85 was a more key level than 1175. That was the level we stood at before the QE2 induced rocket up, and that level has been broken. I'm going to check out all other major US indices after close to see if they confirm the break down below pre-QE2 levels (not all confirmed the break to new highs after QE2). I can see a shorting opp here, with tight stops as of course there is a good chance of me making the wrong call, it could just be a nice step back before the real QE2 induced jump.
Supports, bottoms, tops, all BS I dont buy into any of it at all because theyre only good until theyre broken. WTF 'strong support' is only a line in the sand.
Yes, but if enough people think enough of technical analysis they will place value on support/resistance levels. And that automatically means they have importance.
Study Fibonacci to see why what you just said is silly.
Studied Fibonacci years ago, another great rear-view mirror indicator.
I couldn't disagree more. Perhaps you are mistaking pivot levels and Fibonacci retracement levels?
Use the Fibos as long to very long-term target levels on either the Daily or Weekly charts. Price is either moving toward or away from those levels, either as a repulsive or attractive force.
Bernanke and Greenspan have killed Graham and Dodd as well as Edwards and Magee. Throw chicken bones.
Entrail reading is much more effective.
lol
Hmm. Implies an edged weapon.
The only relevance support/resistance levels have are twofold:
1. This is a location at which traders place stops when buying in at mass numbers
2. It is a liquidity limit when the market rises
In either case, they can easily broken if the market warrants them to be.
Back on May 13th I drew a line at 1175 as SPX bounced off it a couple of times as overhead resistance. It finally broke through this fall and became support. It's pretty strong as a support line. I don't think we'll close below it.
Mmmmm, it looks like they are waiting for the US markets to close. I have a feeling it might actually be good news, Ireland told rest of Europe to pack it with bailouts!
Could be waiting for markets to close, or the EuroGroup may all just be a bunch of ass hats with no sense of time, loving to keep the pleebes waiting on them.
'Good news'...for us or the criminal elite world banksters?
Hundreds of hedge funds have their hands on the panic button, ready to sell if we dump into the closing bell.
love that
micks saying bugger off you slimy brits, and you too over on the CONtinent
Key support levels all held nicely on SPX, AAPL and to a lesser extent, DOW. Buyers will carry this as a victory into tomorrow. Especially with more economic news on tap.
Looks like the close to be ketchup red. Shake the bottle what happens? ketchup all over the place.
My prediction.. The Lords will reign triumphant, The market will go green and Billy Batts will tell us Serfs to go home and get our fucking shine box
This is the bailout announcement.
It was decided yesterday, all this other shit has been a dog-n-pony show.
Tyler.... The rest of you guys. Been snoop around the hedge for months now and just registered today. Anyway to post this on the main page if it has merit. Explains it all so a 4th grader can understand it.
http://www.silverbearcafe.com/private/11.10/QEexplained.html
Been snoop around the hedge for months now and just registered today. You ain't been snoopin much cause this has already been posted about 25 times.
That's because he was this close to seeing it earlier.
Welcome aboard nonetheless.
Waiting for the sub 11K Dow stick save just before 4 pm as the PPT swings into action.
BYe Bye AAPL. The stick was McSorleys
OUCH! brought him off suspension just for aapl. I still have that head shot image btw.
Is Turd o.k. ? Gold getting blowtorched over last 5 days....
hmm
T.Mosley said gold 1,800.00 by years end lol'
The dollar is toast, the dollar is toast ... LoL'
So... where do you think gold will be by years end?
Not sure ...But it will not be above 1,500.00 the economy is getting better, the dollar is not going to crumble. Big business does not care about J6P/jobs issue in USA. Hes selling into a global market like cat,gm,ford,apple
I just think the entire " I seeeeeee....." thing is crazy talk. 3 months out ....
Every time we have an issue everyone runs toward the dollar. Not gold, not euro's ...gold is getting dumped like everything else ...
I know, right? Gold is getting DESTROYED, all the way down to levels not seen since...two and a half weeks ago.
Markets don't move in straight lines people. Still plenty of trading days between now and the end of the year.
Oct 1st.
So you still see 1,800.00 ???
For physical, probably. I never said it was definite, but I thought it was more likely than just $1500.
Speaking of $1500, real bullion is already going for more than that in some locations: http://shop.ebay.com/i.html?_nkw=%2450+American+gold+eagle&_sacat=0&LH_B...
If i had 400,000 in cash sure I would put 10-15% in gold and never look back.
But to trade on the thought of an asset going to the moon is nuts. What goes up ....
But if we ever get blackswan/good news. look out below....
Everyone gets torch'd for making stock calls (robo,harry) so I just wanted to keep things even.(turd)
Also, I just noticed that you said it last traded at this level on October 1st, which is patently false. It is currently trading at $1340, a level last seen on October 29th, almost exactly two and a half weeks ago.
You really think a black swan is going to drive people INTO the dollar? That's batty.
People have been piling into both the dollar and gold for the past several weeks. Rule changes on the exchanges have flushed out many of the leveraged speculators. Good riddance. They were weak hands playing a paper game. Not a single one of the fundamentals for gold or silver have changed. They only get worse.
Also, people buy things because they think they are going to the moon all the time. That isn't nuts. It's called stock picking, and its based on fundamentals. Bernanke has changed the game to the extent that the stock markets are no longer viable. As such, those of us who used to pick stocks are forced into other realms. In my case, I chose gold and silver, because of FUNDAMENTALS. You can act to suppress fundamentals, but only for so long. There will be no truly good news. Even if there were, even if everything magically got better, and Keynes was proven right, I would be perfectly fine with it. Know why? Because I get paid in dollars. If we put off the moonshot another year, great. That means I get to accumulate another years savings in silver, pumping up my inventory by some 30%, assuming no raise and no major increase in expenses.
What was it trading at oct 1st ?
Quick question from all if you live in a big city around usa how packed are the highways. Chicago highways are packed now day and night with 18 wheelers. Last year not so much, everything is picking up. Cat is back to 2007 levels with all the credit market issues.
The sky is not falling, the dollar has a strong bid/ day after day new debt being issued on a global scale china,india,cat, everyone is borrowing in dollars.
All the mergers taking place is another good sign.
We are way better off than 2 years ago. Are things great nope but they are getting better. They will do whatever is needed to keep the arrow pointing up look at what just went down with the mortgage mess unreal .... Under the rug again, harry was right ....
You miss the point. You act as if this move down wiped out two months of gains. It did not. It wiped out gains that were put on in two and a half weeks.
It's like seeing the DOW go down five points, and saying "look, it's at the same level it was in 2000" (or whenever).
And mergers taking place is NOT a good sign. That is favored companies being fed printed dollars, which they are using to buy up the competition. This is a set up for higher prices in the future. I never gave any credence to Harry's calls, so I never paid attention to them. He's a bubble rider. Don't ride bubbles--you'll drown in foam.
I'd like to see which number CAT is back at. I somehow doubt it is in number of units sold. That is, unless the gov is buying up units, loading them into ships, and sinking them in the Atlantic somewhere.
Cat mining div. is on fire ....
Your right easy,easy ... I'm not saying buy and hold is bad. Just the trade I think the top is in for now.
I just think you could take profit in gold now after a long,long run.
I was on ZH the first week of his original blog....
I was yelling the sky is falling in the fall of 2004 after coming across itulip.com and minyanville(family friends did not listen). K.Depew was talking about big trouble in the credit markets(minyanville). ITulip said to buy gold under 300 in 2002. He called the tech bust in 99' ( he was VC ), housing bubble in 2003-04 , and both major gold corrections along the way .... Hes calling for China to blow up next summer after her 7th rate hike. He thinks we may be near another correction in gold soon ... The last G20 meeting was important in his eyes for gold. If they made a back door deal gold will start to fall.
http://www.itulip.com/forums/showthread.php/17553-Door-Number-Two-Revisi...
CI: How deep a gold price correction might we see?
EJ: We may see a correction of up to 20% over the next 12 months, but I am reluctant to say that because unlike the warning in March 2008, the driver this time is neither as clear nor as certain. Frankly, it’s based on little more than intuition.
CI: What’s bugging you?
EJ: Central banks hate high priced gold. It makes them look incompetent. In a perfect world according to central bankers, gold prices were supposed to fall from $35 to $7.50 after 1971 when gold was demonetized but instead shot up to $850. For 16 years, from 1987 to 2003, the system worked pretty well, but even though central banks do not report to national governments they are certainly accountable to them. The Iraq War started the dissolution of the previously cozy relationship. When the US crashed the global financial system in 2008, that was the last straw for many leaders around the world.
At this point, there are numerous potential sources of the next major correction in gold and commodity prices. One, forcing the US to halt its currency depreciation, is one. Actual implementation of austerity in the US is another. I assign a near zero probability to that. Austerity, as I noted early in the year, is a campaign promise that will get you elected. No politician wants the spending plug pulled on their watch if they can help it. Another possibility is the perception that the currency war that started in 2001, but was not named publicly until this year – by Brazil – may be nearing an end. It isn’t, but the gold price correction immediately before and during the G20 likely reflects speculation and information leaks that might be taken for indications that a new monetary arrangement is at hand. Gold ran up before the meeting on news of discord and may be correcting on rumors of cooperation, especially what appear to be concessions by the US to stop beggaring its trade partners. Funds are trading on the rumors. Gold is a barometer of central bank discord. Given that the G20 ended without any resolutions to the trade and currency conflicts, if gold prices rise on Monday, we’ll have our answer.
Mining makes more sense. I was thinking backhoes, which is a bit of nonsense, outside of government spending.
If you identified the problem in 2004, you should have made a lot of money. No need to trade. I greatly dislike trading, especially in the market as it is now. I just won't do it. I bet against the banks in March of 2009, and got POMO'd into oblivion. It was at that point that I realized that the system was totally broken and would never recover, and went all in on bullion (I was some 50% in bullion already).
There is nothing that can be done now to force gold to fall steadily. Any move down at this point is in the short term--a month at most. The move could easily reverse itself in a week, and proceed to a panic+greed driven bubble that results in a renewed gold standard, followed by a blow off top in both metals, with silver leading gold. That is what I see, and I will trade my silver for gold at what I believe is the appropriate time, and trade my gold for productive assets once I feel the political risk has dissipated.
Did not trade anything until 6 months ago. I was blowtorch'd with vxx over a 6 week span Lol' .... I would just read ZH,ect. to learn. And I got out of debt before the crash.
If they make some kind of deal over the dollar gold could tumble. A black swan suprize ? A reset of some kind that helps all moving forward.
They keep coming up with shit day after day to sweep shit under harrys rug.
There is no deal "they" can come up with to stop the fall of the dollar relative to gold, any more than they can come up with a deal to stop the tides from coming in. The only way they can stop the devaluation is to set the money pump into reverse and suck most of the dollars out of the system. That is the only way the dollar is going to have a sustained rally. Of course, that would also destroy the US economy, just like pumping money into it will.
Money HAS TO BE NEUTRAL. If it isn't, systemic imbalances will occur, and they will be catastrophic.
The dollar traded at 85 in 2005 and now trades at 79.Most people/business can't put money into gold they have to use that cash for everyday life.. How big is the overall gold market in regards to the global credit market.
After all the bailout maybe 13 trillion in backstops. The inflation is really not that bad.
The global credit market doubled over the last 8 years most of this new credit/debt is in dollars.
Not that big of move in the value of the dollar after all that new debt was issued.
http://tfmetalsreport.blogspot.com/2010/11/was-it-really-just-week-ago.html
I guess you did not follow all his post before the blog .... 3 months of Gold 1,600.00 by years end ... Lol'
Yeah, I did.
Anyway, I own PM's for long term, really never plan to sell.
Here, here. And I bought some more today.
Yep. While it's on "sale" priced in dollars....still I don't even trust that.
IMHO, it's always a good time to buy.
I warned people to not trust anything traded on any exchange. Its all corrupt, manipulated and unreliable.
+ 8 suppressed renminbi Yes u have.
+++++ Too many insiders and HFTs scalping mutal funds and retail traders.
I doubt he considers it blowtorched . Anyway if this bailout goes through I would expect to see a serious bounce .Ireland Portugal Spain and Italy and Greece has everyone on deflation alert on US side who the fuck knows what will happen in the EU if Ireland decides they don't want to make a deal with the devil ...
An Irish prayer
Ireland please don't let the IMF "help" you into debt slavery.
They talk blarney while the cuffs and choker will start to tighten the debt turn buckle.
Although this time there is no silver lining.
Although this time there is no gold lining.
1518ET...
The herd's gettin' nervous.
8(
They love making the peasantry class wait around for them.
The Leprechaun figures large in Irish folklore
So does the Sheleighleigh! Ass whoopins galore!
All the Euro-elite as usual an hour late just out of spite for the 'little people'. Man I cant wait till they start showing up hung from lamp posts.
Printing 398.18...looks like the PCLN dilithium crystals are running out of juice. Or maybe Captain Bill Shatner just took some profits and knocked it below that $400 mark. Either way, it might be time to call your broker and beam up your cash before those shares tank any further.
I hear that. I think anyone is NUTS chasing around some 100 PE momo stocks! But hey whatever keeps them entertained, Im all for freedom.
Man! You guys are hilarious today!
:D
The old colonial master comes to the rescue?
"U.K. Support Sought for Ireland Bailout" - http://online.wsj.com/article/SB10001424052748704312504575618191237236712.html?mod=wsj_share_twitter
Parnell would be a proud man if he were alive today.
They are not very punctual over there in Europe.
Probably all busy sipping tea and buggering strumpets or whatever it is they do over in Europe.
omg
Droppin they fart-crackers to bumfodder a lil bundletail between kidney pies
snorting snails
Best line of the day?
Hahaha Sheepdog!
"buggering strumpets" ha...
Damned strutting buggerers..
They are stalling until the U.S. market closes to prevent a panic sell-off
BTW WTF is going on with Muni's holy jesus...
Strong Euro and coupled with QE2 and a slowing German economy wouldn't be the best thing for the German economy. Merkel already lost 1 major domestic election back in May, thanks partly to the Greece bailout. I know from having been a resident in Germany at the time that a hell of a lot of Germans were pissed (to say the least) with what was going on. Merkel also has to know that this won't be the last bailout, and she will be sent packing by the German electorate in a few years if it continues.
The Irish government also probably don't like the idea of increased poverty in Ireland, coupled with the news that they are bailing out RBS, which owns Coutts, and therefore are private bankers to the Queen of England. The IRA would be back in action, this time against the Republics government.
Then again, politicians are fucking morons so we are probably going to see a bail out, vicious austerity in Ireland and a weakening German economy as the Euro temporarily recovers before the next bail out is needed.
Black swan ? Will Ireland pull an Iceland ?
What I hope to see is group of elites who thing they are unaccountable become very ACCOUNTABLE.Give em the 2 fingers Ireland or take the money and buy Gold and Silver with it.
Just to fill the gap until the great event commences:
http://www.youtube.com/watch?v=50m8ox-8mEU&feature=related
From the BBC's Paul Mason on Twitter...
"Getting sense from insiders here that any deal cd embrace more than just Irish debt. May be trying to build firewall round IE and Portugal."
Bumper bailout, bitchez.
What does that mean though, Italy will be fine ?
yeah no problem, italy and all 50 United States...until it crashes again which could anytime...
finally its starting
Here we go.
Live stream just went live.
Can they start without Chris Dodd's leprechaun visibly present?
Always after me fookin lucky charms!