Risk Off(er)

Tyler Durden's picture

Because AAPL was not enough, Grexit is now back and fully frontal:


And dump. Funny how all the horrible news are hitting after the election.

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FL_Conservative's picture

Almost like it was coordinated that way. Hhhhmmmmm.......

DoChenRollingBearing's picture

Yes, quite the coincidence, I am sure that means nothing...

vast-dom's picture

 QEcstacy set up play, more at QExcrement. 

Future Jim's picture

I hate the thought, but if QEinfinity is here, then all that money has to go somewhere, so wouldn't the stock market go up - a lot - in nominal dollars regardless of the economy - kind of like it has already been doing?

Also, it seems like most of those QE type dollars are not getting into the prices of consumer goods yet, which would make gains in the stock market even more profitable if they could then be pulled out and used to buy stuff that hasn't inflated as much as the market - yet.

vast-dom's picture

QE half-life shorter each time. Markets catching on. Thin air fiat doesn't produce tangible supply and creates more unemployment, esp given ZIRP. It's Japan for 20 years or crash.

Tenshin Headache's picture

The Europeans favored Obama, and were not about to pull the rug out from under him.

TruthInSunshine's picture

Anyone who doesn't see this as more than a mere coincidence is supremely naive. Many critical dates for voting and such regarding Greece and the other PIIGS were delayed until conspicuously after November 6th.

It's all part of the rigged game (that Republicans, owned by the same entities & people that own that other allegedly different party, the Democrats, also go along with).

The fiscal cliff will get solved one way or another (the massively subsidized and actual owners of U.S. politicians, being the Financial-Defense complex, will see to that), but the EU crisis won't, even if Germans literally quietly accept a radical debasement of their living standards, in a futile attempt to bail out the insolvent EU co-members on anything approaching a "sustainable" basis. There's not enough aggregate blood in Germany to bail out the PIIGS, let alone the PIIGS+France, and there will be a major conflict between an industrial-manufacturing fueled Germany & a fractional reserve banking ponzi scheme-fueled U.K. that will boil over into critical mass at any rate.

The only way the EU crisis can be resolved is if significant haircuts on EU member state sovereign bonds are crammed down the throats of holders of those instruments (think about the knock-on effects that would cause given the leverage and the complicated structure and interwovenness of global credit/CDS/debt markets), and even then, it may not be enough (since those same states need massive infusions of new credit/capital).

LongSoupLine's picture

Nobody could have seen this coming...Nobody!

disabledvet's picture

More like uncoordinated that way. As said here "Europe would be saved once Barack Obama was reelected." So much for that idea. Now say hello to your Friendly Prussian Banker EZ.

Buck Johnson's picture

Everything is coming up dirt right after the election.  This is going to get interesting.

Water Is Wet's picture

"Funny how all the horrible news are hitting after the election."

Yeah, just hi-larious.

Manthong's picture

It's all good..

just as long as the price of gas stays down.

fuu's picture

+ $0.19-0.26 overnight in Minneapolis. Only 6-8%...

asteroids's picture

I guess they realize that throwing money down a fiscal black hole IS pointless. Do nothing, Greece defaults, and we see if their "firewalls" actually will work.

slaughterer's picture

Grexit for Christmas, thanks EU.  

walküre's picture

One can only hope that the Greeks walk away from the table for good now. After they voted in favor of more austerity yesterday. Probably risking their lives in the process, the EU puts their issue on ice again.

If the Greeks don't walk now, I've lost all respect for them. Only moochers and parasites take it up the ass forever and say thank you for the warm words and the promise of a future payment.

Everybodys All American's picture

No different than any other socialist regime in the history of mankind.

Dr. Engali's picture

You mean everything is not rainbows and unicorns in the world? Why just three days ago we were discussing whether or not the fed should raise rates to slow this roaring economy.

Bay of Pigs's picture

When do we all get our new Bama Fones anyway?

Dr. Engali's picture

We kept him in president you know.

Spastica Rex's picture

I'm out of the loop - did the original Obama Phone Lady (I just watched the video for the first time) actually get a phone somehow? And she believed Obama procurred it for her? Hmmm.

Orly's picture

The markets will probably catch a bid after the London close.  The Brits have been in the mode of "misery loves company" for several days.


CrashisOptimistic's picture

Why would you say this.  You know perfectly well HFT is 80% of trading.  They "catch bids" several thousand times per second.

Greece has always been the focal point.  It's not going to change.  The EU leaders cannot go to their populace and tell them "that money we loaned Greece isn't going to be repaid".  They will be removed from office.

Perhaps the silliest part of that this week was the faux drama over the Greek Parliament vote.  Greece sat down and had a discussion with Greece and agreed that if they just pass that bill, they get a 2 year extension (and note the 2nd year will require more EU money beyond the current awaited tranche).  Somehow the media has transformed this into a presumed truth.

The EU hasn't agreed on 2 years no matter what Greece votes.

Orly's picture

The British traders have a lot of money leaning on stocks now.  They can push the price lower if they want to, as they can make as much on the downside as on the up.

Once the trading desks close, the pressure will be off a bit and it is likely that US long-only players can come in and "pick up bargains."

monkeyboy's picture

You make it sound like some sort of orchestrated conspiracy......

Ghordius's picture

meanwhile the main interest of the financial community is not about GreXit, BriXit or any other eXit but "what does this mean for risk" or, better: RiskOn or RiskOff?

disabledvet's picture

in 2008 gold and oil got positively SLAMMMED as the dollar soared. Clearly this site has been pining for a "re-run ever since." I still believe however it's almost impossible for the dollar to go higher against any currency...least of all gold of course...but we shall see. So many people believe that though and gold stocks have gotten KILLED. I know if i were a holder of said equity i would ask for my dividend in the gold itself actually. Having said that while all the world has "penis envy" for all those big banking towers on Manhattan the USA has a massive number of insurance companies as well...and they are much more in tune with the goings on in business than a bank ever will be. here's a company i love currently getting slammed post election: http://seekingalpha.com/symbol/pru?source=search_general&s=pru good place to get a job too, just watch your back as with any other place. "sharp elbows" as they say. good people to talk to tho if you've got an "enterprising concern."

ElvisDog's picture

You're wrong (in my opinion anyway). The US$ is the prettiest girl in the leper colony. I expect the US$ to strengthen against all major currencies in the next year or two.

Kali's picture

Great Ron Paul interview on Bloomberg. 

RiotActing's picture

Great interview? That woman is an idiot and Ron, like always RAMBLES and RAMBLES on..... He fucking sold us out. Mr. Im going to the convention! Wait, actually, I was told to go home.... so Im going to go home. But hey, Im back now... listen to me.

No, you had your chance.... shut the fuck up.

Orly's picture

But my son is a Senator from Kentucky.

What's yours?


RiotActing's picture

My son? Hes a year old and has more character than Rand ever will... fuck him too. Endorsing Romney, fucking joke.

Orly's picture

Yes, I was quite disillusioned with the entire happenstance.  I mean, here's Dr. Paul, I guess about a year-and-a-half, two years ago, going to go before the Fed chairman on national TV, in Congress and ream him a good one.  Instead, all he did was ramble on incoherently with forty minute questions and then basically dropped out of the presidential campaign.

Next thing you know, Rand Paul is the Senator from Kentucky and Ron Paul just drops off the face of the Earth.

I live in Texas and have people in Kentucky, so it was a real shocker to me.  Most shocking is how most ZHers still tout the man as some saviour of sanity, when in fact, he is as big a sell-out as the world as ever seen.

I'm with you on this one.  Tying our wagon to this man is going nowhere very fast.


Lost Wages's picture

There was horrible news before the election too. It just didn't seem to matter. As a matter of fact, I'm not sure why it suddenly matters now. Oh yeah, because Republicans on Wall Street are throwing a hissy fit and pooping in their diapers.

RSBriggs's picture

Better check your figures.  The majority of the Wall Streeters are (D) Democrats....

viahj's picture

that really doesn't pass the smell test.  the bankers made out like bandits under Obama and will continue to do so.  sheesh, if you can't see past the red vs blue, there isn't anything relevant you can add to the conversation.

ever stop to think that wall street banksters want more printing?  Ben won't do that with 1400/13000.

earnulf's picture

Now that the US dog and pony show (or was that the Mitt & Barack show, I get them confused) is over for another two or four years depending on whether you think congress can regain any traction with the American voter, it's time for us to turn our attention back to the rest of the planet we're on and realize that while we were preoccupied, the shitstorm was not letting up for anyone else.    Oh there was an eye of that hurricane and now we're on the other side where the scores can really change!

The Gooch's picture

"I'll have more flexibility after the election".


SheepDog-One's picture

And funny how everyone actually BOUGHT the 'Its all for the election' BS and then thought it would carry forward too? Whatever, I dont feel sorry for anybody out there. According to major financial news clowns the blame is to 'angry white men'....I may be angry and white but Im definitely not the one panic dumping stocks out there, or buying em.

slaughterer's picture

"Angry White Men"  Need something more specific.  Is this a game, like "Angry Birds"?   Why can't it be Angry Green Men?  Or Happy Yellow Women?   Does not compute.

SheepDog-One's picture

Well, its pretty easy if you just think like a dumb childish financial news media 'anal-cyst' for a minute.....'Black guy won, markets dropping....has to be white guys throwing a tantrum then'. 

PLira's picture

I find it amusing the spin these idiots come up with. The sheep take it as the word of the creator, whomever that is. Here is the "Angry White Men" story.

2008   43% of whites voted BO (funny, I've never seen him called "Body Odor") but it finally came to mind. lol

2012   39% of whites voted BO.

4% spread.  With a +/- statisticle error basis of +/- 2% for each election.

Somehow, I can't correlate the whole "Angry White Men" meme on the data.

Am I wrong?


walküre's picture

Black guys trade? LOL

INCOMING ........

Everybodys All American's picture

So you can't be a lesbian, black or hispanic but you could be gay though in which case you could just act like you're pissed at the world.

PUD's picture

Whore houses putting in overtime...or is that putting out? nevermind

youngman's picture

actually in and out...in and out...works the best for me

Shizzmoney's picture

And dump. Funny how all the horrible news are hitting after the election.

As people who live in, you know, REALITY, have been saying all along.

Kaiser Sousa's picture

fucking greek people...im sick of hearing about'em...

either storm the parlimeent buildings and drag unto the streets ur banker owned politicians, or

embrace serfdom like good little bitches.....................