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Risk Ramp On Boehner Banality
Great timing. The ubiquitous post-European close trend-reversal was extended by some 'nothing' comments from Boehner that every media outlet is inferring means everything's fixed and compromise is close. It's not - what did we expect him to say?
- Boehner says talks with Obama were constructive. Outlined a
framework with Obama; Will accept revenue if spending cuts
- July 18, 2011: House Republicans brace for compromise on debt (Source: LAT)
- July 22, 2011: Debt Ceiling Talks Collapse as Boehner Walks Out (Source: NYT)
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Get ready middle class, you are going to get it in the rear again!
CONgress will collude to raise your taxes and reduce already taxed entitlements; the Kleptoligarchy must be preserved!
Where was all this austerity and responsibility talk in 2008?
Where was all this "concern" about the "fiscal cliff" when they bailed out the banks, insurers, and automakers?
Where is all this "concern" as the FED pumps $40 Billion a month into the very leveraged instruments that caused the crash?
All hail vampire crony capitalism and the socio-fascist government bent on taking away individual liberties and any assets you might have!
Beautifully played: announcement comes out seconds after European markets closed.
beat me to it....perfect strategery
A framework? Damn, I was hoping for a roadmap this time...
and a comprehensive one at that!
A Way Forward!
Stocks are long overdue for a short-crushing ramp into the close.
Kevin must have done a couple of lines in the men's room.
Yep, Wall Street equivalent of "powder your nose."
pods
would a blueprint suffice?
....plus on option expiration, all the cash from selling europe went straight to OOTM ES (which of course are now ITM) and a weekend to boot to digest no details
The market is oversold and are looking for any excuse to start climbing. The problem is that until now, there was no excuse. Today, lawmakers have provided a float to Wall Street to grip. This could be enough to change the character of the stock market. However, it does not seem enough to change the trend. Let's wait to see if the government or the Fed take this opportunity and give a new impetus to the market. But beware, to retake the way up, need to see more.
What a fucking farce...
The hopium bags have been distributed.
Europe has provided the template for the meetings and communications "policy".
Boehner Speaks, Stocks Get A Boner!!!
Speaker of the (Shit) House...
What a chump!
Spending cuts?! LOL!!!
So when do the gates of hell open?
I believe they already have. For all the Pelosi/Reid jokes around here, Boehner is by far the most incompetent short bus "leader" on the planet right now.
The market leaps on 3 minutes of fluff. We didn't learn anything. There is no plan (not that it would matter) and no true direction. Just "we promise to try to talk again after Thanksgiving."
Idiocy.
Ineptocracy (in-ep-toc'-Ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.
Are the financial advisors sheeps!!!!
Bad new announced and the big money jumps into the market.
The real bad news of the postal service loosing billions, BP paying billions and Twinkies are going to be museum pieces is overcome by the stupid investment advisors.
Talk is cheap, but until there is concrete evidence that capital gains and dividend taxes are not going to skyrocket, the selling will continue.
Would not surprise me a bit if taxes on cap gains and dividends are exactly where the "compromise" comes in for Obama to get his higher tax rates on the wealthiest two percent (and rest of investors/traders of course) and republican house members to keep Boehner's pledge of not having the tax rate (on income) go up on those making over $250k. After all it is the lower rate on cap gains and divvies versus rate on earned income that all the broohaha has continuously been over about the different taxes paid by Buffett versus his secretary and, more recently, Romney and his assistant. Should that be the case, market knows not what it celebrates.
hammer this rally home CNBShit...get in there...stop with the selling the pops shit what are they paying you for??
SURPRISE!!!
Ooh, 'talks were constructive'! I'm sitting on the edge of my seat waiting to see how this 'fiscal cliff' thing pans out, it's ever so exciting! Fuck these clowns, all of them.
Rhetoric you can take to the bank.
'constructive' is another popular bullshit term like ' robust ' .....algos are programmed to like both equally.
Lets see how manic this market is going to get in the next month or so. I said this a couple days ago in an earlier post, the algos will ramp on any positive rumor regarding the fiscal cliff. Just like they did it on every rumor out of europe.
While I can't prove causation, I believe there is correlation to how much ZH exposes on a single day to how much the markets are pumped on said day. It's as if someone is reading ZH and saying "We can't have all this bad news and have the markets tank too. Turn the knob to 11 Kevin...and quick!"
Temporalist, you have discovered an important truth about ZH, the NYFED, and the intraday markets. Kev' has ZH Twitter feed flashing next to his BBG and BUY button all day.
IT CAN'T BE DONE. "Fiscal cliff" is a sound bite. The debt ceiling will be raised. End of story.
You should have prefaced your comment with 'Spoiler Alert!' You're going to ruin the fucking drama for the CNBC shills and all the politico douchebags.
by next week the traders will be naked draped in american flags drinking a coca cola while rock music plays as they prance around selling used hyundai's.
+1 for the imagery. (Can we have a little sodomy and peanut butter thrown in there?)
if the scene gets set for those guys i am sure they can put our imagination to shame
Market rallied bc Boehner and Reid didn't have fist fight on camera.
Nice expecations.
Boner can give Obama some stimulus because he can take it back with the debt ceiling.
By 'revenue' he means:
Eliminate home mortgage deductions and cut tax rates.
To bad the algo bots can't compute that correctly.
Yup. With interest rates so low, who needs the deduction anyway?
Yep- you can bet that someone is pitching that one right now- "And since interest rates will never go up in our political lifetimes, there is no risk".....
Cya Boner, and thanks for all the fish.
Looks like it could be setting up for a outside reversal day.
Yeah, it's ALL about the technicals, genius....
Know how to tell when a politician is lying? His lips are moving! Ratings downgrade imminent! We MUST go off the fiscal cliff in order to get our fiscal house in order. BULLTARD TRAP! Don't be a fool. This market is finally heading in the direction it should be going---DOWN!
Hmm, I think I have an idea on how to arbitrage ZeroHedge...
Write a blog about a blog and tie it into network marketing.
Brilliant!!!
http://www.empowernetwork.com/jimijon/
Check on me now and then. :-)
I don't know, there was a post a while back where someone said his mom made $83 an hour and all she needed was a cucumber and a webcam.
pods
Everyone temporarily believes the fake fiscal cliff crisis has been fake averted. Thank fake god. If nothing else, this should be good for a dead cat bounce.
orangeman: OK, constructive income taxes to be raised on "rich people" and no problem with the 26 obummer care taxes and the SS rate going back up. Now that is one heck of a deal.
theWON: So, we'll cut 3, no 2, no 1% from the shhhhhh(baseline automatic annual increase of 8%) budget AND, now this is how generous I am going to be, in VICTORY, that will be over 10 years while the taxes will be retroactive to '08 when I took office, the first time.
orangeman: Why, why are you being so reasonable?
Test the 200DMA on the ES is the new name of the game.
How many MoMo monkeys will be re-buying their recently-sold precious AAPL in a panic today with the idea that the sell-off has abated?
dup
the moron on CNBC with the head that looks like Max Headroom states the follwing -
"i'm buying more Apple...."
yea, yeah, me too...imma sell all my Silver and get me some Apple.....
what a fucking joke...
What a Maroon
http://www.youtube.com/watch?v=C_Kh7nLplWo
hey bro thanks...i needed that...
now, where was i...........oh yea,
FUCK YOU BERNANKE.....
Anytime my friend!!
Boehner says talks with Obama were constructive. Outlined a
framework with Obama; Will accept revenue if spending cuts. ...
BREAKING NEWS
Boehner then spit and he and da prez smoked a cigarette.
bullshit
The illusion of compromise only needs to be maintained for another 4 hours. That will buy them the weekend to come up with some other bullshit.
'WHAT A REVERSAL WE ARE SEEING"
up 30 pts and they are pitching it like it's up 500
Good luck keeping this rocket that was launched at precisely 11:40am from falling back to Earth. Gravity BITCHEZ... You can keep a balloon afloat with hot air as long as the hot air continues, time to see what happens when the hot air cools down.
Ah but your forgetting the magic "1530 anti-gravity ramps." They will be activated at that time by simply playing reruns of Boehner smiling and saying "constructive talks." Maybe, just for good measure, they'll even through in some Drahgi reruns.
(For those not used to military or European time, 1530 is 3:30 in the afternoon)
We are looking more like Europe every day! How many times have we seen the markets jump on some quote or quip?
Hey Ty:
Got NFLX?
Luv, Whitney.
I have NFLX the service. Streaming improved 1000% from a few months ago. I saw Giant w/ Rock Hudson and James Dean last night. I was very impressed to see that movie on the menu.
Full-retard in full-effect.
Is it just me or does anyone else find the term "constructive" a bit frightening? Sharpening the knives, are they?
Boner ramped the market so he could sell his aapl
the market is acting twitchy -- not good
AAPL headed to 8 straight weekly close in the red.
whew, got out of my long with a little coin. watch /es if it breaks over 1356.50, its probably long time. if it fails, go short.
...and now a word from Ted Torbich dicussing current events: http://www.youtube.com/watch?v=IWTv3f7gQqs&feature=plcp
Wow! There really are middle aged guys in their mother's basements. I hope she brings his meds to him soon.
He's in his basement...and the reason he's like this is because he's off his meds, maybe if everyone got off of theirs.....
Based solely on the words of John Boehner that his meeting with President Obama was "constructive", S&P 500 futures have leaped 16 points (about 120 on the Dow) in less than 30 minutes. Oops! It wasn't "words" (plural), it was WORD (singular).
"Generational Opportunity" there it is
All hail The Tan Man so sayeth the HFT's! The rally will last until Harry Krishna and Nancy Nazi speaketh out against the Tan Man. Tax the rich, let the tax cuts expire and the HFT's will weep...
"Orange Man Makes Markets Green" (WSJ)/sarc
went long /es it broke above, thats a cup and saucer pattern.
The republicans come out and pretty much say, "The Democrats must have showered today because they do not smell like fish," and the Dems come out and say, "The republicans did not sacrifce an old person on the table this morning" and the whole fucking world believes we've been saved.
These guys are just incredible.
And we are so screwed.
Boehner's remarks are a justification, but NOT the reason.
The stocks have no other way to go but up. It's FORCED buying.
The option of a SLIDE is no longer available. Either creep up or grand canyon, untill the weakest link collapses.
After that, grand canyon is the only option.
IWM bounced off of and has defended support the past 2 days so far. To all the technical skeptics, all I can say is that I saw it coming - even though I didn't know what "it" would be.
From this point though the New Year, I think every effort will be made to get the sheep to buy as much holiday junk as possible. And let's not forget those banker bonuses.
Like this year will be somehow better than last years ridiculously hyped faceplant 'retail shopping season'? I know none of us here are buying much of anything for Christmas presents, only needed and useful things. It will be worse than last years dud, no way around that.
I don't agree.
50% of population is receiving food stamps or other kinds of money that CANNOT be deposited but only spent in USA.
If I have have dollars I can spent them everywhere. If I have an EBTC (electronic benefits card or food stamp) I can spend it only in USA. People are forced to spend them.
It can continue as long as Chinese are willing to be enslave to ship goods to USA in exchange for worthless electronic dollars, hence retail won't go higher, but won't go significantly lower either. But again, it will employ a lot of enslaved chinese, but zero americans.
Food stamps no worky.
http://twitter.com/search?q=%23ebt&src=typd
we have a framework. wow. great...I feel so much better now, in fact, this has boosted my consumer confidence so much that I think I will run out right now and burn not one, not two, but all there of my credit cards.
yep, it's wine, roses and hopeium from here on out.
now can somebody tell me, how do I nominate the US federal government for a nobel peace prize?
If ever you needed more evidence of how broken these markets are then this is it. Proof positive the humans have left the building. I think it's great though - every time they artificially take down the metals I buy more and every time they artificially hype up the markets I put on shorts big enough for Roseanne Barr.
M&Ms (muppets and maggots)
No one was buying that ramp except Ben and Kevy. They were leaning on the buy button spending your money to let the PDs get out before 4:00.
Federal Reserve and PDs are one entity.
Are you saying they are selling to each other, since nobody else is buying?
They are one entity that is true, but they don't share the same balance sheet. In addition PDs have voluntary shareholders that need to be kept happy. The Fed's shareholders on the other hand are captive by virtue of their citizenship.
it appears US politicians have learned from the Euro politicians. Free Beer Tomorrow!
Watched that. It took about ten minutes on low relative volume. Its just momentum move. They always tie it to a narritive, but basically the whole "skynet" did a ramp. Its a trick....
the old spending cuts later and tax increases now RINO rope-a-dope - watch that AMT on the nodascope