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European charts fading
Quick chart update below. We clearly see how several European indices all show the same pattern. The Bernanke rally has faded, and we marked a short term top. What is interesting, is the fact that we never even tried pushing the previous highs. This is the same psychology when we topped out over the previous tops. Did Bernanke fool the last momos covering their shorts, and more new “smart” longs entered the fake move?
One thing is sure, Spain’s Ibex is trading very badly, and we strongly believe Spain will become the next major point of focus. For some more on Spain, click here.
Charts below.
DAX
Stoxx 50
OMX (good risk measure)
And the ever falling Spanish Ibex market. Breaking new lows...
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Mañana, mañana.
There are no bulls. There is only Zuul!
"Zuul" or HFT computers hypothacating 1 Dollar 45 Cents three million times a day?
Shit, it looks like the parties over. I guess I better dump my BAC bought at $5.76/share and two to one margin.
the market will go down only when Ben permits it> It will go up otherwise, because ben permits it> It is a tragi-farce but a reality> When all this crashes, democracy will be an historical concept. All wealth will be in the hands of .01%. Mankind fundamentally works best to a feudal type system. Democracy was an interesting experiment...like communism.
Meanwhile in the US the markets hit new post 2008 highs in the last couple of days (albeit they might just be starting to turn today).
Oh, and Apple hit $620 - exponential since the beginning of the year, look out below!
DavidC
Bernanke's next trick is to put the world's economy into a time machine and propel it into the future past the end of his term in office.
Whowouldathought that the last sane local on the planet is a bunker with built-in thermal sauna outside of Reykjavik.
Bulls can start sweating OR...they can ramp up talk of LTROs and QEs and STDs....anything to keep this farce moving...
Dive! Dive! Dive!
Its all the green shoots weighing down the markets...
I'm sure Bernanke the Magnificent has another rabbit to pull out of his hat to counter the dismal NFP number next week but I sure don't know what it is.
For the first time in three years I really think he may be stuck. The Fed has painted itself into the corner...
In a sane world, it appears as though he may be cornered. However, we no longer live in a sane world. You're forgetting the fundamental lesson since 2008 - Never, EVER, underestimate TPTB's (incuding the Fed) ability to kick the can down the road.
Never, EVER say Never, Ever.
Don't forget the marginal nominal new high of 2007, and don't forget the 1970s. Another marginal nominal new high and another 2007-2009-style collapse shouldn't surprise anyone.
The boy who cried wolf. "Ohhh, it is all clear...." for the nth time. It is black hole time! Bitchez!!!
Bulls will ride this "rally" all the way to the slaughterhouse door. Then they will all try to get out at once.
My Balls are already sweating! Oh you said Bulls, sorry!
Will be very easy to find the next BULL markets in FAZ,TAZ, and the VIX. hahahahaha