This page has been archived and commenting is disabled.

Better Than Expected Jobs Number Sends Market To Day's... Lows?

Tyler Durden's picture




 

When summarizing yesterday's first of the month ramp, we said: "Should the NFP disappoint for whatever reason, today's rally will be promptly unwound. On the other hand, as the final major economic datapoint before the election, there is a snowball's chance in hell the NFP beats at anything less than 1 standard deviation [ZH: this was proven this morning when the NFP printed above the highest Wall Street estimate, a 3std dev beat]. The good news, for those who are sick and tired of the constantly fudged metrics, is that after next week, we revert back to normal, and the mysterious economic push higher (a lot of it reflexive: Why are you confident? because stock are higher. Why are stocks higher? because I am confident) in the past 2 months will finally dissipate." Which is why anyone looking for a reason why the futures have proceeded to slide to their day's lows, this may be it: all the good news is now fully priced in. Things to look forward to now: Fiscal Cliff, Debt ceiling debate, further collapse of Greek and potential resumption of Grexit speculation (just look at the EURUSD), Spain bailout (Spanish bonds today are very unhappy), and the prompt unwind of all "better than expected" jobs number following the election, regardless of who wins the Oscar for best presidential performance. Because now there is an alibi for not only weak future numbers, but for historical revisions. It's name is "Sandy" - get used to it: it will be the excuse for every upcoming economic data miss until January.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 11/02/2012 - 10:37 | 2941042 hedgeless_horseman
hedgeless_horseman's picture

 

 

Anyone want to lend me their allocation of RH so I can short it?

Who buys this crap?

 

Fri, 11/02/2012 - 10:38 | 2941069 malikai
malikai's picture

WTF am I looking at?

Fri, 11/02/2012 - 10:45 | 2941087 hedgeless_horseman
hedgeless_horseman's picture

 

 

It may look like the same junk you can buy for pennies at any flea market, but that there is a pile of 27 times net income.  You don't recognize it?

The IPO price valued Restoration Hardware at $887.3 million, or 27 times net income in the 12 months through July, making the stock about 64 percent more expensive than peers, according to data compiled by Bloomberg.

 

http://www.businessweek.com/news/2012-11-02/restoration-hardware-surges-after-ipo

When the lock-up ends, after this pre-election consumer CONfidence boom, this thing is going to float like a Led Zeppelin.

Fri, 11/02/2012 - 10:50 | 2941122 malikai
malikai's picture

Wait a minute. You mean Sanford and Son went public.. For >$880 million?!

EDIT: Looks like you've struck a nerve with some shareholders. Perhaps instead of downvoting you they could consider loaning their shares to you. It won't stop the hemmorhaging, but I guess they should have thought twice before buying..

Fri, 11/02/2012 - 10:57 | 2941167 aint no fortuna...
aint no fortunate son's picture

"It's name is "Sandy" - get used to it: it will be the excuse for every upcoming economic data miss until January."

You mean January 2014, right?

Fri, 11/02/2012 - 10:49 | 2941130 DeadFred
DeadFred's picture

Dude, I'm packing the house to move to the next one and I have sooo much stuff that looks just like that. Anyone need a wood stove in good condition from 1900? Shipping by UPS might be a bit steep. Any of you NYC guys?

Fri, 11/02/2012 - 10:56 | 2941159 Zer0head
Zer0head's picture

I was watching Bloomberg's maneater wonder aloud to her co-host why the markets weren't celebrating the fantastic jobs numbers.

 

I can only imagine how the BBG hosts and hostesses are falling over themselves to hop on to Mikey's obama bandwagon.

 

Even bloomberg's special friend cum  private moneymanager Rattner of Willett penned an editorial in the FT

http://www.ft.com/cms/s/0/7933d8ae-2284-11e2-b606-00144feabdc0.html#axzz...

Fri, 11/02/2012 - 10:47 | 2941117 Cunnial
Cunnial's picture

A really awful carpet!

Fri, 11/02/2012 - 10:47 | 2941118 debtor of last ...
debtor of last resort's picture

A wheelbarrow.

Fri, 11/02/2012 - 10:56 | 2941160 Agent P
Agent P's picture

I believe that was the inspiration for Disney's Wall-E...which is sure to make an appearance in the next Star Wars movie.

Fri, 11/02/2012 - 11:28 | 2941273 Pool Shark
Pool Shark's picture

 

 

Actually, the inspiration for both of them was Johnny 5:

http://www.michaelerb.net/wp-content/uploads/2008/07/comparison.jpg

 

Fri, 11/02/2012 - 11:40 | 2941329 Agent P
Agent P's picture

And what a fine piece of cinematography that was...I think Steve Guttenberg won the Academy Award for Best Actor that year.

Sat, 11/03/2012 - 00:22 | 2943623 StychoKiller
StychoKiller's picture

"Who controls the British crown?
Who keeps the metric system down?
We do! We do!


Who leaves Atlantis off the maps?
Who keeps the Martians under wraps?
We do! We do!


Who holds back the electric car?
Who made Steve Gutenberg a star?
We do! We do!


Who robs cave fish of their sight?
Who rigs every Oscar night?
We do! We do!" -- The Stonecutters, The Simpsons

Fri, 11/02/2012 - 11:24 | 2941260 oddball
oddball's picture

I saw that on "American Pickers"!  

Think I will buy a van and head east.  Eazy money.

Fri, 11/02/2012 - 11:52 | 2941374 SheepDog-One
SheepDog-One's picture

Remember, ALL the 'good news' is already out there.

Fri, 11/02/2012 - 11:57 | 2941391 Robert-Paulson
Robert-Paulson's picture

http://www.marketwatch.com/investing/index/DXY/charts?symb=DXY&time=12&s...

 

 

Correct me if I'm wrong here, fellas

But, is it not all about the above??

Help me out here

Fri, 11/02/2012 - 12:02 | 2941412 Orly
Orly's picture

Love the avatar, RP!

Fri, 11/02/2012 - 12:16 | 2941487 hedgeless_horseman
hedgeless_horseman's picture

 

 

But, is it not all about the above??

Yes, it is.

Timmy and Ben will someday be considered early American heros of the Great Resource Wars.

Fri, 11/02/2012 - 12:05 | 2941433 EvlTheCat
EvlTheCat's picture

An early prototype of WALL-E.

Fri, 11/02/2012 - 13:01 | 2941659 graneros
graneros's picture

You are looking at an old pallet and pallet jack combo.  Long before the invention of the pallet jack you would have found these in most manufacturing plants.

Sat, 11/03/2012 - 00:23 | 2943627 StychoKiller
StychoKiller's picture

Looks like a luggage cart from a train station to me...

Fri, 11/02/2012 - 10:43 | 2941098 PUD
PUD's picture

I like the thing a ma jig on the wall or door or whatever the fuck it's hanging on.

Fri, 11/02/2012 - 11:42 | 2941124 hedgeless_horseman
hedgeless_horseman's picture

 

 

Yeah, well, you cannot get that cool shit except at a junkyard (free) or rent it by the hour at a prop house in The Village. 

You can buy the lamp!

How do you feel about that floor lamp?  Do you like it $379 Bernanke Bucks?

Atelier Task Floor Lamp Bronze

$379.00
Our floor lamp, inspired by pharmacy lamps of the early 1900s, features articulated extension arms that glide on precision-jointed hardware.
 
Or you can get pretty much the same lamp, probably made in the very same factory in China, for $39.19 at Target.
Pharmacy Floor Lamp
 
$39.19
Gain some extra light in any room with the sleek style of this Pharmacy floor lamp. This lamp features a metal base that displays an oil rubbed bronze finish. The warm brown of the bronze color can complement a variety of color schemes and décor.
 
Fri, 11/02/2012 - 10:54 | 2941152 larz
larz's picture

I have one of those in my basement

Fri, 11/02/2012 - 10:57 | 2941166 GubbermintWorker
GubbermintWorker's picture

Who buys this crap?

 

RH targets consumers with household incomes of $200,000 or higher, according to regulatory filings.

 

 IOW, people with more money than sense!

Fri, 11/02/2012 - 11:53 | 2941378 Agent P
Agent P's picture

They must have bad data on me, because they send me a 6 pound, 3" thick, high gloss furniture porn catalog every six months or so, and I make considerably less than that.  I also have never bought anything from them...though I did once sit in a leather chair in one of their stores that was so comfortable I started to get an erection...then I looked at the price tag and the mood was instantly broken. 

Fri, 11/02/2012 - 11:01 | 2941182 LongSoupLine
LongSoupLine's picture

 

 

Sure, and if you don't don't have time for RH, there's always hedgie favorite PCLN.  It's 10+% beta chase ramp-o-rama this morning puts the forward P/E somewhere in the 13,000 X range.  Sounds like a great "value" to me.

Fri, 11/02/2012 - 11:35 | 2941308 slaughterer
slaughterer's picture

There IS some potential good news in the future, namely, the next FOMC meeting.  

Fri, 11/02/2012 - 10:34 | 2941044 Agent P
Agent P's picture

Prospect of a second term?

Fri, 11/02/2012 - 10:45 | 2941106 DeadFred
DeadFred's picture

So the race is close. What happens if we get to watch "Hanging Chad II"? One might posit that no president is the best outcome possible but I doubt the markets or the credit agencies would like it.

Fri, 11/02/2012 - 10:34 | 2941046 jimijon
jimijon's picture

Silver routing today

Fri, 11/02/2012 - 10:54 | 2941150 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Today is a good day to buy.

Fri, 11/02/2012 - 11:18 | 2941238 DeadFred
DeadFred's picture

It used to be bad was good because it meant Ben would print. The new reality is that good is bad because Ben will stop printing. The euro gapped down on the NFP for that reason and hasn't stopped. I'm getting dizzy trying to see things in reverse-logic market-think. Just sell everything else and keep buying silver (they're going to come after your gold).

Fri, 11/02/2012 - 10:35 | 2941050 vast-dom
vast-dom's picture

"[...]we revert back to normal". Don't be so sure, especially since normal is so fucking abnormal [e.g. SP 2x real value at 1400ish!].

Fri, 11/02/2012 - 10:36 | 2941054 SilverMoneyBags
SilverMoneyBags's picture

News doesn't matter. The market blows and down we go.

Fri, 11/02/2012 - 10:37 | 2941061 Bastiat009
Bastiat009's picture

Stocks are not doing too bad compared to silver and gold which has come down $100/oz in two weeks or so.

I know the big picture is somewhat different. And, and, nothing makes much sense anyway.

Fri, 11/02/2012 - 10:59 | 2941173 SmallerGovNow2
SmallerGovNow2's picture

Silver and Gold are getting absolutely hammered this morning...

Fri, 11/02/2012 - 11:53 | 2941373 GCT
GCT's picture

Getting closer and closer to the election time.  Watch the markets rally next week big time.  Would not matter who is sitting in the office. 

SmallerGov I think they will do their best to hammer commodities and PM's until the election is over.

Fri, 11/02/2012 - 10:37 | 2941064 ejmoosa
ejmoosa's picture

If a government would lie about terrorism, lie about Benghazi, lie about the causes of the recession, lie about the strength of recovery, lie about fast and furious,  lie about the debt, lie about Obamacare, (feel free to continue) then why would we be shocked that they lie about NFP?

How do some rationally conclude that the government is truthful on some topics, and willing to do whatever it takes on others?

You cannot believe anything they say.

 

 

Fri, 11/02/2012 - 10:50 | 2941119 GetZeeGold
GetZeeGold's picture

 

 

We don't leave a man behind except in Benghazi....good thing Chris Matthews doesn't know where that is......that's all we'd be hearing about.

 

Benghazi this.....Benghazi that.

Fri, 11/02/2012 - 11:01 | 2941183 SmallerGovNow2
SmallerGovNow2's picture

Chris Matthews is the biggest tool on the planet...

A very dull tool I might add...

Fri, 11/02/2012 - 11:11 | 2941214 otto skorzeny
otto skorzeny's picture

why can't CM join Tim Russert in hell-like I ever wanted to read a book about Russert's fucking garbageman dad.

Fri, 11/02/2012 - 11:14 | 2941229 Orly
Orly's picture

Dude.  Seriously?

Fri, 11/02/2012 - 11:36 | 2941310 tsx500
tsx500's picture

wow....Happy Friday , Otto !

Fri, 11/02/2012 - 11:39 | 2941321 disabledvet
disabledvet's picture

Because the Federal Government still has to pay for the trillion dollar hole in the MTA's budget...and when you outright LIE about that and SCREAM "Obama or your life!" you only make it worse. In short "IT HAD BETTER BE A REALISTIC TIMETABLE." ("It" being "recovery.")

Fri, 11/02/2012 - 10:41 | 2941070 Kaiser Sousa
Kaiser Sousa's picture

there is only one constant....

Silver and Gold must be suppressed at all cost on every occassion......

 

FUCK YOU BERNANKE AND ALL YOU DEBT COUPON DOLLAR BITCH ASS BANKERS.......

and im stacking some mo' as soon as my dealer opens up YOU BITCHEZ.......

Fri, 11/02/2012 - 10:40 | 2941083 govttrader
govttrader's picture

Pretty amazing this price action in the govt bond market...

 

http://govttrader.blogspot.com/2012/11/trading-with-weekly-profile.html

Fri, 11/02/2012 - 10:42 | 2941089 gjp
gjp's picture

Don't think the banksters are too unhappy right now.  They're holding on to yesterday's rally, gold and silver are getting hammered, oil is near lows for the year, stocks still near their highs, and they are having a ramp fest with ridiculous valuation momo darlings like AMZN and WFM.  Yes, it's bankster paradise today ... again.

Fri, 11/02/2012 - 10:47 | 2941114 Kaiser Sousa
Kaiser Sousa's picture

desperate acts of impudent sociopaths tryin to preserve their debt based paradigm...

like a child turning over his cereal bowl to garner attention...

it changes nothing.....the debt coupon dollar days r done.....

Fri, 11/02/2012 - 12:29 | 2941536 seek
seek's picture

And every single one of those conditions is temporary and an affront to natural order -- it's going to be one hell of an unwind.

Fri, 11/02/2012 - 10:42 | 2941093 HD
HD's picture

It's all meaningless until the last ten minutes before close - where parabolic is the new normal.

Fri, 11/02/2012 - 11:01 | 2941181 GetZeeGold
GetZeeGold's picture

 

 

They used to call that painting the tape.....now they just call it hosing it down.

Fri, 11/02/2012 - 11:04 | 2941194 HD
HD's picture

The SEC used to investigate such matters... those days are gone.

Fri, 11/02/2012 - 11:05 | 2941199 Orly
Orly's picture

Way.

Fri, 11/02/2012 - 10:42 | 2941095 PontifexMaximus
PontifexMaximus's picture

eurusd is not helping, give the ppt a kick in the.......to dump the $, then mkts turn +, reflation trade must be in...

Sat, 11/03/2012 - 03:21 | 2943753 boogerbently
boogerbently's picture

I think the "sheeple" are just getting better at math.

171,000 new jobs created in the month of October.

363,000 initial unemployment claims (jobs LOST) in just the last week of October. (1,400,000 for the entire month)

This has been the ratio of jobs created to jobs lost for 4 years, now.

What part of this is "good".

How can the unemployment RATE (7.9%) keep getting lower while unemployment keeps rising???

Possibly "accounting errors"?

 

Fri, 11/02/2012 - 10:44 | 2941104 Calidreaming
Calidreaming's picture

I will have to admit.  this reversal is very "unusual" for a jobs beat day.  In the past this puppy would go stright up and close at highs of the day. Dont think we have had a reversal on day like this for a few years

 

Fri, 11/02/2012 - 10:55 | 2941154 Orly
Orly's picture

Not really.  Of course, it is counter-intuitive and I may not be correct but the thinking is with a great jobs beat, the punchbowl is sooner to be taken away.  Markets will actually have to perform under their own guise instead of being jacked-up by Captain Ramptastic and the Salted Earth Cowboys.

:D

Fri, 11/02/2012 - 11:35 | 2941307 fuu
fuu's picture

"Captain Ramptastic and the Salted Earth Cowboys"

They need a theme song.

Fri, 11/02/2012 - 11:52 | 2941361 Orly
Orly's picture

Goodbye Yellow-Brick Road will do fine...in the opposite sense of what they would hope for us:

When are you gonna come down
When are you going to land
I should have stayed on the farm
I should have listened to my old man
You know you can't hold me forever
I didn't sign up with you
I'm not a present for your friends to open
This boy's too young to be singing the blues
So goodbye yellow brick road
Where the dogs of society howl
You can't plant me in your penthouse
I'm going back to my plough

Back to the howling old owl in the woods
Hunting the horny back toad
Oh I've finally decided my future lies
Beyond the yellow brick road
What do you think you'll do then
I bet that'll shoot down your plane
It'll take you a couple of vodka and tonics
To set you on your feet again
Maybe you'll get a replacement
There's plenty like me to be found
Mongrels, who ain't got a penny
Sniffing for tidbits like you on the ground

I say that'll work... :D

Fri, 11/02/2012 - 10:45 | 2941105 Boilermaker
Boilermaker's picture

Why is Silver getting slaughtered?

Fri, 11/02/2012 - 10:52 | 2941131 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

 

 

Step 1)  The Fed creates $40B dollars out of thin air

Step 2)  The Fed buys $40B of MBS from the Private Dealers

Step 3)  The PDs buy $40B worth of USTs from the Fed

Step 4)  The Fed fractionally reserves the dollars 10:1

Step 5)  The Fed now has $400B worth to do as they please, likely shorting oil and precious metals so that while they are destroying the purchasing power of the dollar it does not appear so, at least in the short run.

Of course, on a long enough timeline the survival rate for everyone drops to zero....even for the Fed and its immense ponzi scheme of fiat valued instruments.

Fri, 11/02/2012 - 10:50 | 2941136 Conax
Conax's picture

Because they can. Small market, easy to topple the apple cart.  Gold took one on the chin, too.

Fri, 11/02/2012 - 11:41 | 2941331 tsx500
tsx500's picture

why does a dog lick its balls ?

Fri, 11/02/2012 - 10:45 | 2941108 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Mittney will fix it!

Fri, 11/02/2012 - 11:02 | 2941186 GetZeeGold
GetZeeGold's picture

 

 

He's not going to fix it.....he's going to corner it.

Fri, 11/02/2012 - 10:47 | 2941120 tooriskytoinvest
tooriskytoinvest's picture

I think this video has crash the market:

http://youtu.be/RyWSEwKPo8s

 

LOL

Fri, 11/02/2012 - 10:48 | 2941127 Mad Mohel
Mad Mohel's picture

Remember that the dreidel wobbles most erratically and violently before it falls over.

Fri, 11/02/2012 - 10:49 | 2941129 tahoebumsmith
tahoebumsmith's picture

Meanwhile back here in reality camp the clock just keeps on ticking... Tick,tock,tick,tock

http://www.usdebtclock.org/

The looming debt ceiling breach ought to be very interesting this time around. Looks like we will have plenty of venison for the upcoming Holiday season.

Fri, 11/02/2012 - 10:53 | 2941143 ekm
ekm's picture

You guys will soon understand that news are irrelevant at this point.

 

Unless Hedge Funds and Mutual Funds miraculously manage to stop redemptions, Primary Dealers have only one choice: Use Fed's money to buy stocks until no more stocks left or receive a margin call.

 

I said it before and I will say again: MFG was the preview of what's about to occur.

 

Fri, 11/02/2012 - 10:56 | 2941161 hedgeless_horseman
hedgeless_horseman's picture

 

 

Donate to a worthy hedgefund...buy their PCLN at this level.

 

Fri, 11/02/2012 - 11:01 | 2941185 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

*junked

Fri, 11/02/2012 - 10:58 | 2941168 Orly
Orly's picture

You mean the "Honourable" Jon Corzine went out on a limb to be the sacrificial crash-test dummy to see the mechanics of how the public reaction to a blatant, publicly traded rip-off would play out?

Ha!  Are you crazy?

:/

Fri, 11/02/2012 - 11:36 | 2941312 ekm
ekm's picture

Exactly.

Not crazy at all.

Just observing crude reality.

Sat, 11/03/2012 - 00:31 | 2943636 StychoKiller
StychoKiller's picture

It certainly helps when the bankruptcy court allows the theft to get covered up via rulez and regulationz...

Fri, 11/02/2012 - 11:05 | 2941157 Muppet
Muppet's picture

Question:  I am seeing an Algo here?  I put in an option order to buy 10 contracts and notice others are also bidding my price (bid size 50, todays vol 5).    My order doesn't fill and I cancel & resubmit it but -mistakenly- at a lower bid (not higher).   To my surprise, the other bidders are disappear... a quote shows only my lower bid present (bid size 10, todays vol 5).   Moments later, my bid fills.   I quote again and the original bid pool of 50 and higher bid are back (bid size 50, todays vol 15). 

It is like the "50 bid size" is a false Algo-bidder.  Maybe thats called a market maker... I dunno.   Odd.

Fri, 11/02/2012 - 11:32 | 2941294 Cosimo de Medici
Cosimo de Medici's picture

Yes, you are.  There is a "fair price" for the option based on the underlying/time/rate/vol as determined by the algo's model.  If nobody is bidding that "fair price", then the algo doesn't need to go that high, but rather just be best bid.  If you try to place a bid above theirs, but still at or below "fair price", then the algo reads your order going to the floor, but because their computers are co-located with the exchange, and their program executes faster than the exchange, their order can beat yours to the floor and be first best bid.

If the underlying changes, the "fair price" changes (the arb disappears at last price), so they pull.  You get filled, because your bid exceeds their "fair price".  The underlying changes again, the algo becomes best bid, which---depending on the change in the underlying---may be above where you were filled.

If you sit right at best bid, then pull your order, the algo pulls theirs (faster than you).  If you re-enter, they re-enter, again faster than you.  All day long.

Their speed demands that you must pay above the fair value price (according to their models);  otherwise they beat you even if you entered your order first.  They pay for the privilege of co-locating, and they can afford to hire better algo writers.

Fri, 11/02/2012 - 18:57 | 2943155 Muppet
Muppet's picture

Thank you Cosimo.   Your third paragraph is exactly what happened, I pulled my bid and they pulled theirs faster.  Bastards

Fri, 11/02/2012 - 10:57 | 2941165 Venerability
Venerability's picture

You'd think they were having multiple Auctions today, all graded A plus by Rick Santelli.

Bleep Gold, Bleep the Market.

Bleep Brent, Bleep the Market.

Bleep the Euro, Bleep the Market.

Support the Market and the Country and the World.

Or support the Alpha Bank and its sleazy Nexus against the Market, the Country, and the World.

Oh, well. Time to roll our eyes again.

On the (very) bright side, media outlets all over the World have started to state the obvious: That an Obama victory, particularly if convincing - which means at least 4 points - is the veritable Rocket Launch for Gold and Silver, because we are going to get Worldwide Coordinated Stimulus out the kazoo for years to come.

It will turn the focus very strongly towards the German Election and make Peer Steinbrueck the Up-and-Comer.

Fri, 11/02/2012 - 11:01 | 2941179 Dr. Engali
Dr. Engali's picture

Redemptions bitchez. A bunch of muppets are about to find out just how illiquid this market has become. The gates will be closing.

Fri, 11/02/2012 - 11:03 | 2941187 Bansters-in-my-...
Bansters-in-my- feces's picture

And Gold gets monkey hammered ,,???? Thats what happens when Gold lease rates go to -0.555 It happens eveytime. The other day silver and gold lease rates went negative for all months,

Fuck you bernanke and timmy,you fucking Terrorist.

Fri, 11/02/2012 - 11:05 | 2941196 Dr. Engali
Dr. Engali's picture

Are you trying to sell any right now? Because if you aren't then you should be thanking them for the sale.

Fri, 11/02/2012 - 11:10 | 2941212 Bansters-in-my-...
Bansters-in-my- feces's picture

No I am not wanting to sell now,but CORRUPTION is CORRUPTION.

I would sooner see a free market.

Win, lose,or draw I would like to see the market set the value NOT the USA Central Banks/Govt.

Fri, 11/02/2012 - 11:17 | 2941233 Dr. Engali
Dr. Engali's picture

It's coming, probably much sooner than people think.

Fri, 11/02/2012 - 11:27 | 2941270 Bansters-in-my-...
Bansters-in-my- feces's picture

If you want to know when is a good time to buy PM's,watch the Gold and silver lease rates.

Two days ago lease rates went to 0.000 for all months for silver lease rates and the rates went to negative-0.555 for the gold lease rate for the one year and like Negatve -0.475 for the remaing 1,2,3,and 6 month rates.

These rates give the bullion banks a chance to load up for the knock down and GET PAID for it......

Fuck you's bankers.

Kitco will show the lease rate drop for a day or so and then make them "disappear" and a new improved rate shows up on thier charts.

Or they show the data correctly for the lease rate but intentionally manipulate the graph to not show the big drop in rates.

I catch them at it all the time and call them on it.

I even have the charts for the same day,and each one is way different,one shows a negative rate and by noon it' showed a positve rate.,but the negative text data stayed the same....

Fuck yoy Jon Nurdler.

You decietful fuckTard.

Fri, 11/02/2012 - 11:32 | 2941296 fuu
fuu's picture

Please sell more gold and silver.

Fri, 11/02/2012 - 12:19 | 2941500 Bastiat009
Bastiat009's picture

Don't you worry about that ... it looks like you are the only buyer today.

Fri, 11/02/2012 - 12:23 | 2941515 fuu
fuu's picture

Silly person, if no one was buying the price would be $0.

Fri, 11/02/2012 - 12:36 | 2941565 Bastiat009
Bastiat009's picture

The only thing falling faster than the price of gold is the sense of humor here.

Fri, 11/02/2012 - 12:45 | 2941598 fuu
fuu's picture

Backatcha.

Fri, 11/02/2012 - 13:50 | 2941897 Venerability
Venerability's picture

Nonsense!

When the Ninnies overreact, it means THEY'RE getting scared again - pretty much witless, by the look of things.

I'm predicting a 7-point victory for the Obama-ites.

I'm predicting the loss of 15-18 GOP House seats, including some prominent Tea Partiers.

And I'm predicting beats next week for SLW, PAAS, and CDE - all three.

Now Da Boyz can play these things any way they want to.

But they are about to get embarrassed all over the place, IMO.

Soon, they are going to have to compromise with US, instead of the other way around.

And, by the by, if all three of my above predictions come true, I think it's about time ZH started treating me and those who agree with me with a little more respect.

It's not just the overwhelming majority of the World's human population which wants to avoid another 2008 at all costs.

It's also the vast majority of active Market participants and everyone who really cares about preserving a functioning financial services sector, both in the US and worldwide.

"Rogue"- ishness per se needs to go out of style.

Fri, 11/02/2012 - 16:03 | 2942534 Orly
Orly's picture

"And, by the by, if all three of my above predictions come true, I think it's about time ZH started treating me and those who agree with me with a little more respect."

 

So, if you turn out to be completely wrong- and you are, by the way, 180 degress- do we laugh at you even more?

Sat, 11/03/2012 - 04:12 | 2943769 Venerability
Venerability's picture

I'm right on all three predictions.

If I am - which I am - will you allow me and those who agree with me to take over ZH from the Little Boy Market Nihilists who now run it?

 

Fri, 11/02/2012 - 11:59 | 2941398 icanhasbailout
icanhasbailout's picture

Good numbers = less chance of the next QE, on which the market is levitating pretty much exclusively.

FTFFOMC

Fri, 11/02/2012 - 12:19 | 2941498 Grand Supercycle
Grand Supercycle's picture

MARKET FORECAST.

As mentioned - SPX / CL / HG / GC / EURUSD daily charts continue to break down.

http://trader618.com
http://www.zerohedge.com/news/2012-12-24/market-analysis

Fri, 11/02/2012 - 12:48 | 2941609 Shizzmoney
Shizzmoney's picture

Limerick King:

Fired, laid-off, or just quit?
Are finances taking a hit?
Job loss is scary
Call Crazy Barry
He'll get you a job cleaning shit

Fri, 11/02/2012 - 13:34 | 2941816 Zymurguy
Zymurguy's picture

Where has the Limerick King been lately?  Between him and Banzai they make the news bearable.

Fri, 11/02/2012 - 13:33 | 2941805 Zymurguy
Zymurguy's picture

Obama:

"well, uh, if it wasn't for Bush and, uh, now Hurricane Sandy, uh, we'd be on the road to recovery... I just hate Sandy Bush, don't you Michelle?  But seriously, uh, folks..." 

Fri, 11/02/2012 - 16:16 | 2942581 MFLTucson
MFLTucson's picture

I hope this man is out on Tuesday because this is sickeing to watch.

Do NOT follow this link or you will be banned from the site!