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Blackhawk Ben Down: Stocks Have Now Faded QEternity
8 days after the rapturous calls of all-in 'Ben's got yer back' so buy-everything (coz retail will support you now and don't forget the beta chase?), the S&P futures have fully retraced the 40 points of S&P spikeworthiness that Ben's FOMC QEternity statement provided. Treasury yields are already notably below pre-FOMC levels, as is Oil; and the USD is higher - as Gold holds gains too but is fading.
We can only assume that with all pretense of surprise factor gone now Bernanke has shot his wad, fundamentals (earnings) do matter once again...
and where to from here... 1417.75 then 1398.25 next in ES Dec12...
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"Blackhawk Ben Down"
Have I said lately how much I love you guys?
Diminishing Fibonacci returns Bitchez!
Helicopters don't fly in outer space.
"We're going to need more agents."
I'm trying to calculate the difference between infinity and 8 days. Can anyone help? :D
Bernanke! Bernanke! Bernanke! Ammo God Damn it!"
How does S&P correlate with M2? There may be a lesson here...
Simple really. Rotate 90 degrees.
Sure...Quality
Already posted by AC.
But I thought he had "other tools"? We're gonna need more tools.
Everyone in the Fed is a tool.
My dad has a bitchin set of tools. We can fix it!
-Jeff Spicoli
Silver is having a rough time too....
It's called rope-a-dope.......it just looks that way.
Sell equities and buy what?...bonds?
The market's not rolling over here and neither is silver. It's much more likely we'll see a nice rally. 10 year yields have fallen pretty steep relative to the very small sell off in equities. This shows how much pressure there is for the markets to move higher.
If the sell off is to continue, that means equities will be sold in exchange for bonds, driving yields even lower. Bonds are simply priced too high and the bond bubble will support the stock market.
This, according to the Urban Dictionary, is known as a bang-over or post-coital remorse.
...... does this happen often? Never heard of it. ?
Back in my whaling days it did.
Diminobinaccez!
Get ready for the final sag, going into taxmageddon. Watch for Congressional lame-duck craziness. Brace brace brace.
and he killed the Bernanke Put to get that much...
If the put is truly gone what will be the better trades when the market realizes that 'down' is once again in the playbook?
I will never ever understand why he destroyed the Bernanke put. It was serving his purposes so well. Did he shoot himeslf in the foot for a fungal infection?
Ben better up his game. Taxmageddon is coming, he will have to act decisively and failure is not an option.
Taxmaggedon compounded by a worldwide recession and for sure a government gridlock no matter who wins. And this is already baked in,,,,,,, I haven't listed the 10 or so possiible black or pink swans on the near horizon.......................................
As some would say, reality is fast approaching bitchezz!!!!
More like: que the scramble for hard assets as capital preservation becomes the new black.
(Ahem...bitchez!)
"Blackhawk Ben Down: Stocks Have Now Faded QEternity", as have gold and silver, look at the charts.
My hot printed money....is no good?
transitory...
Time-release vaporization
We just lost the initiative
Tim's trophy is a lot bigger than mine.....and he didn't have to do a damn thing to get it.
What gives?
Where's Obama, he needs to hold a press conference and threaten an SPR buyback to keep oil prices from going too low.
Where's Obama, he needs to hold a press conference
He just needs to kill Osama.......again.
I just hope they don't hire the director from that 'Innocence...' movie to film it this time. I doubt there's any money in the budget to hire better though. What? We don't have a budget? Awesome! Someone call James Cameron and get a bank from China on the phone!
This is no lie. The US killed Osama four times. I would not take a fifth-time play off the books.
"...with all pretense of surprise factor gone now Bernanke has shot his wad, fundamentals (earnings) do matter once again..."
"Other tools" will be hinted for further future "accomodative measures" by a Hilsenroomer soon enough. ie. unsterilized Treasury purchases.
with ZIRP and soon to be NIRP they are already monetizing everything in the paper world. Please, wake the fuck up. All paper promises are burning, period.
What To Expect From The Stock Market
http://chartistfriendfrompittsburgh.blogspot.com/2012/09/what-to-expect-...
that was fast!
my educated guess would have been 4 to 5 weeks!
does this count as some kind of keynesian black swan?
Must still be early in the morning. I read that as "kenyan black swan."
<<<-----------------
Sure.....what the hell?
Ben praying? too small?
Gonna change avatar again. Original post above was supposed to have arrows pointing to pic of Ben praying (or at least it looked like it). My bad. It was too small to see his eyes closed with hands in prayer position.
I like your avatar. I think people were junking Ben, not you.
Oh. lol. Still getting used to commenting here. Thanks for the heads up!
Junked: I refuse to do as I'm told.
*ring
*Drop food
I refuse to do as I'm told.
....a rebel without a clause.
yet they succeeded in killing Bob Jenua? lol 's stop loss at 1450.
That's the problem with specific targets. A lot of times, it causes you to make the wrong move at the wrong time. I respect his discipline though. I think he will be proven very right with his downside target.
Coming Soon:
QEinfinity 2
This time it's personal
Or, as Gregor Cantor would say:
QEfinity 2: This time, it's Aleph 1!
I was going to go with QEinfinity 2: Ben's Revenge but wanted to keep it simple.
I like QETOTAL. Figure if we have time locked, we also need size and extent.
Cue deerinheadlights.jpg
Paper-pushing fucknuts, meet reality. Know the real value of your labor? Time to find out, fucking bring it.
You better turn the printer dial up to eleven Ben.
warp speed in 5...4...3...
When are people going to understand that if there is only one buyer, The Fed + Primary Dealers, the market does NOT exist; nobody else is buying. Exactly like the JPM's whale that owned 70% of that specific market; no trading.
Why is this so difficult to understand?
QE = Security Buying = Less securities available for trading= Lower liquidity
Conclusion: QE = Lower Liquidity
Again, why is this so difficult to understand?
But what about the money that purchased the securities?
It's going to USTs, crude oil and gold. Mainly USTs though.
Mutual Funds are selling, primary dealers are buying. Mutual Funds former members are cashing out and paying down debt or needing the money for survival.
The problem for primary dealers: LACK OF SUCKERS.
Bernanke to Banks:
You take our paper which will become shit, and we'll take your morgages which are shit. That way it looks like we're at least doing something.
Its sane, correct, and based in reality. Of course people will reject it. They were promised wiggle room, your statements don't give any.
Plus 1 to you Sir.
Thx a lot, sir.
People bought the rumer not knowing the program didn't start on day one. From what I can tell the QEX MBS buying program will begin on Oct 10th, as the white paper states that the bulk of purchases will occur on the 8th business day of every month.
The paper also says they will buy $40B, or more if need be and purchases will go until the end of the month.
If you are not out of paper by Oct 10th, you should have been, because you were warned.
The Most Vague White Paper in Modern History:
http://www.newyorkfed.org/markets/ambs/ambs_faq.html
Correct, and have absolutely no effect on the real economy. Simply make banks "appear" solvent again so bonuses can be maintained.
We will close GREEN today and tomorrow.
QE4 is a 'coming.
I have an ounce says both are red.
Wake the fuck up, there is no "market". Don't risk any physical.
Since you're pointed it out......we decided to put you in charge.
Have fun!
"Don't risk any physical."
I was talking pot.
Pot: more physical than fiat.
What's the difference? They both go up in smoke eventually.
That is still a very real physical asset that one might not want to risk.
Done!
Witness here...is that a gold or silver ounce?
See above.
You guys really need to get over everything being about metal. Other things do get weighed in ounces you know.
It's been 25 years since I smoked a joint...my mind doesn't work that way any more. Now when I see or hear the word ounce my mind naturally drifts to PMs.:)
People need to Chill out...Tungsten bitchezes!
Green?
Wolfram?
Looks like a day filled with Rowing at PPT today, better order lunch in
NEVER again will earnings or fundies matter....
PAST THE POINT OF NO RETURN....I liked what someone said yesterday about Ben shooting his wad. We all know he's not "dumb" and has access to unadulterated stats from here to QEternity, but HE SEES THE TRUTH....and is scared shitless.
Now all of a sudden Ben is bigger than the Pope or any other leader in the World......wtf?
Home prices may not return to peak until 2023
U.S. home prices dropped by a third from the start of 2007 to the start of 2012, according to Fiserv, an analytics firm.
Fiserv forecasts prices will bounce back an average of 3.7% a year for the next five years -- a rate that would still leave prices 20% below the peak. At that forecasted growth rate, the national average high of $238,000 would not be hit again until 2023.
http://finance.yahoo.com/news/home-prices-may-not-return-102600405.html
I think they are bing overly optimistic.....2023...too much supply and still building like crazy....
Japan is still waiting for home prices to bottom 23 years after the peak.
Lady market is ready for round two, but Ben is sleeping.
8 days after the rapturous calls of all-in 'Ben's got yer back' so buy-everything (coz retail will support you now and don't forget the beta chase?), the S&P futures have fully retraced the 40 points
... and on the 10th day, the markets rose mysteriously and there was great rejoicing on the Wall Street...
The elders said "surely it cant be happening, this is unsustainable..."
And a voice on the CNBC said "Fear not... we will keep you happy, entertained and optimistic all the way down... into the gutter..."
When I was a kid in grade school I had to attend some geek conference were some precosious nerd presented a boring-ass disertation on the nature of a non-orthagnal coordinate system and the implications thereof. I did not pay attention and my only take away was that the kid was a geek.
I now believe that kid went on to become fed chairman and is experimenting on us with a skewed monetary system.
Great Title! "Blackhawk Ben Down"
Yom Kippur (Sept 25/26, 2012)
It took me so long to figure out what to do with this QE3 bizniz in regard to our 401K... I thought so long about it, everything went back to normal and I didn't change a thing.
I'm not an electrician, but it seems the presses have gone from 110 to 220, 220 to 440, 440 to 880...
Is there a machine geared to run on that much juice?
you've got it all wrong...presses just run faster (feet per minute) not more voltage. its pretty simple, variable speed drive or higher speed motor and that baby will roll....up to a physical limit with roll speed(revolutions per minute) that will make any bearing known to man 'give up the ghost'.....
My instincts are telling me to buy more junior shares... must... resist...the urge...
Mind sharing which ones your trying to resist???
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Nonsense.
IMPENDING SELL OFF...
Due to recent central bank intervention and short covering spikes, these daily charts are extremely overextended and significant correction expected very soon:
SPX, DOW, NASDAQ, NZDUSD, GBPUSD, AUDUSD, COPPER, CRUDE, GOLD, SILVER. [USD strength will return]
http://www.zerohedge.com/news/2012-12-24/market-analysis
http://trader618.com
You forgot to write double post!!!
> http://www.zerohedge.com/news/2012-12-24/market-analysis
This supercycle extends into the future. It may even outlive the euro. Or at least Draghi.
ahh...so now we know why Obama is suddenly running out of patience with Iran.
Well, the Bernanke Bounce wasn't all that great to start with so...
That didn't take long for this QE to stop working (not that it ever intended to work). Now those idiots at the Fed will apply the adage by many of history's worst business minds: Make it up in volume!
I give it another ten minutes until we get the Phoenix Capital "See? We told you so..."
Stocks wll rally 50 S&P points by November 2nd.
I wonder what the odds are that the government will mandate that 401Ks will have to purchase some amount of treasury swaps to try to bail them out?
That's because the market is realizing that QE3 is causing more leverage to be pulled out the markets than the Fed is putting in. That is not a recipe for inflation and rising asset prices.
And housing is fading again too. New home sales miss expectations and fall slightly.
http://confoundedinterest.wordpress.com/2012/09/26/new-home-sales-fall-slightly-median-new-home-sales-rise-for-500k-750k-homes-mortgage-refi-index-rises-again/
Cat's been working out....he looks good!
http://www.youtube.com/watch?v=a2t8Zn3FW1k
True. But the bacon market is heading up. One man's trash is another man's Little Smokie.
http://tradewithdave.com/?p=12399
Isn't this just a redux of 2008? It seems like at about this time stocks rolled over and after a suitable period of pain and fear, threats of various forms of catastrophic financial mutually assured destruction ensued. Apparently we need to change the presidential laundry as a distraction from the real problem of currency debasement and to keep the opposition hopping against the dominant media meme of the two party muppets.
If so, than we can anticipate some useful pain and trumpeted fear followed by some financial farce given a platform to claim finanxial Armageddon if we don't do what the bankers want, give away sovereignty, etc, etc.
Wow, I am so impressed the second time around...
I'll just put this here....
http://www.youtube.com/watch?v=nfsb5HUFMQ0
QE3 is so small, it is essentially not much more than jawboning. I think the Bernank hoped that the open-ended nature of QE3 would be enough.
Does this mean Ben doesn't get to work for BAC next year as "co-chair of special consultants" at $10 Million a year if O'Bummer gets ousted?
An October rout would be a classic going into elections but then it's a choice of two Wall St patsys anyway.
This is all my fault. I bought those 700 shares of GY and the fact that I'm a real person threw the whole market out of balance. I'm sorry.