Reid-On; Risk-Off

Tyler Durden's picture

The cone of silence has lifted; and while some will argue that correlation is not causation, we present a today's market performance (and volume) and Harry Reid's well-chosen words of un-compromise. Stocks fell dramatically on heavy volume as the 'efficient' discounting mechanism somehow hadn't expected a bumpy ride to the end of the year...



It seems the broader risk market was far less sanguine about the hopes of a seamless transition to a fiscal cliff solution than stocks and had been leading us lower all day... stocks caught down to that reality after-hours...


Charts: Bloomberg and Capital Context

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Cdad's picture

Nice efficient markets.  Really, if the tool who goes by the desgnation Reid can tank markets for saying something that all of us already know [because there is NO f'n solution], then today simply reminds everyone that this is no longer a market, at all.

Bottoms up, gents.  Things only get harder from good luck to you all.

ShrNfr's picture

Going to be lots of fun if he kills cloture and the SCOTUS gets packed with far left wing redistributionists.

Mr Lennon Hendrix's picture

The dollar has zero intrinsic value and it is what every investment is denominated in; how can there be any price discovery when there is no value in the underlying 'asset'?

Big Slick's picture

Reid is symbolic of our markets... the walking dead.  

Pump enough electricity and drugs into a dead Arafat and even HE could give a presser.  (Wait I think I just saw him on the news)

Zer0head's picture

Reid is smart like a fox and is accumulating millions by his carefully chosen sound bites.  


SACs Cohen sits in the drawing room of his Greenwich palace , blinds closed, doors secured and he jerks himself silly in front of an image of Harry.   Free, legal and unencumbered ability to manipulate the markets while investing in same. 

Cdad's picture

You know....I am only one cocktail in so far...but I am feeling a rant coming on.  You see...I have been eavesdropping on the BlowHorn [CNBC] recently.  Oh their "coverage" of "financial news" become....UNWATCHABLE!  So insulting.  So very insulting.

I cannot imagine just what rationale is out there...that keeps COMCAST shares afloat...since they took majority share of NBC.  Seriously...which manager over there thinks they are ahead of the curve on the "fiscal cliff" because of some half-baked, totally faked consumer "sentiment" reading they recently took...thereafter launching insulting coverage of just how dumb Average Joe is that he is shopping right now?  That f'n middle manager ought be fired tonight.  Two words.  Tea Party.

It is bubbling in me.......

Mr Lennon Hendrix's picture

What are the alternatives?  Go to cash and get blown out by all the Central Banks that have printed IOUs ad infinum?  Buy bonds at a premium and wait for rates to rise?

The only good investment is gold and silver bullion, but do you really expect the Blowhorn to agree with that?

Cdad's picture don't expect The BlowHorn [CNBC] to agree with that...that folks should buy precious metals.  But they are anyway [ie the BlowHorn is completely irrelevant]

Mr Lennon Hendrix's picture

Then why the hell are you pissed off?

Cdad's picture

I thought I already explained.  You see, The BlowHorn [CNBC] is almost always insulting.  But today...oh took the cake, so to speak.

Never have so many been called "the best and brightest," and for such nominal a claim.  The criminal syndicate known as Wall Street often oversteps, believes its own hype...but today was pure genious in that category.

I swear...if J. Cramer has a job at that network 12 months from now...even I, jaded Cdad, will be surprised.

Mr Lennon Hendrix's picture

I guess you don't understand that most of the viewing public are currently eating ice cream paid for by the government, driving in circles on cheap gas exported by the MIC, and discussing such things as Dancing with the Stars, instead of discussing such things as the fiat currency system, the Federal Reserve System, and such and such.

Please lower your standards of pop culture, for the sake of your own sanity.


klockwerks's picture

Since the election CNBC has been 100% all in with the O man. It was always on his side but after that election it has been rise above everything and every left wing clown has graced the screen non stop. Crazy Cramer, nuf said

knukles's picture

As John Kerry said many years ago, "The media is the fourth branch of government."

You can look it up.  (I'm not gonna bother, again.)  He made it in a presentation at a Boston area Rotary club luncheon... you know, the hand pumping smiley nice horseshit with the electorate where they think ain't gonna get quoted....

Chuck Walla's picture

I'm with you Cdad. When I see Becky and Uncle Warren talking about the cliff is BS, I get concerned. But mostly, all I hear is Becky going o-umphf, o-umphf, o-umphf, o-umphf, o-umphf, o-umphf, in a rythmic way and Warren smiling broadly that his new pump up works so well....

I feel used when I watch them. And just exactly what does Obama fluffer Sorkin add to anything?


Cdad's picture

"Smart money" has bid up shares of Green Mountain by 25% tonight...because of the quarterly report.  Just think about that for a moment or two...and then consider The BlowHorn's [CNBC] "financial news" coverage today.  Green Mountain, I suspect, will be virtually gone within 12 months, I suspect.

So there....Mr, dumb are we that ICI continues to track our efforts to sell this market at EVERY turn for the last two years?

stocktivity's picture

Switch to Fox Business Channel

duncecap rack's picture

I was looking at the chart and wondering what happened at 2:20

DeadFred's picture

Same here and no answer was to be found. Now we know why, HR saying the obvious is not a reason, BUT it does mean that the switches have been reset to "sell" once again. This market is seldom moved by the news but the news is often orchestrated to coincide with the market.

"Harry we need you to give a press conference at 2:20. Don't be late because that's when we're going to start fading this rally"

ShrNfr's picture

Btw, am I alone in feeling that we have seen this play in 1937?

LongSoupLine's picture

it wad a race between Reid and Pelosi on which complete crooked asshole would fuck up first.


what a fucking joke this all has become.

Cdad's picture

I am vacillating between mad scientist laughter...and throwing things...tonight.

fonzannoon's picture

that was me last night. embrace it. get it out of your system. tomorrow is more of the same. until it isn't.

DeadFred's picture

Go with the laughter thing. It can strain the vocal cords but the stomach acid plays havoc with the enamel on your teeth.

Temporalist's picture

Everyone wants their piece of the every shrinking pie.  I guess the only way out is to print more.

Naked Ambition in Speaker’s Office: AIDS Activists Strip on Hill

"Seven AIDS activists stripped naked in House Speaker John Boehner’s office in the Longworth House Office Building today, chanting “Boehner, Boehner, don’t be a d—, budget cuts will make us sick” and “The budget cuts are really rude, that’s why we have to be so lewd,” according to multiple news reports.

The protesters hoped to expose the “naked truth” about cuts to HIV/AIDS program funding that could result from a fiscal cliff deal, according to the Associated Press. The naked protesters  had “AIDS cuts kill” written on their bodies in paint and glitter and were joined by dozens of clothed demonstrators."

adr's picture

pfft AIDS, that's so 1987.

MiltonFriedmansNightmare's picture

If they had been protesting the NDAA they would have been labeled terrorists and arrested.

Cdad's picture

More than enough "AIDS" money has been spent...on a disease that is totally and completely avoidable.  

Good grief.

Tsar Pointless's picture

Really? Totally and completely avoidable?

Tell that to those who contract the disease via blood transfusions, used needles, and lying sexual partners, both hetero and queer alike.

Not enough money has been spent on diseases such as AIDS, cancer, and the rest of them. More than enough money, however, has been spent bailing out failed companies and funding murderous wars and war-like adventures.

Ness.'s picture

Tell that to those who contract the disease via blood transfusions (agree.. avoidable/unnecessary), used needles (Really?), and lying sexual partners (haha...), both hetero (unlikely) and queer (I'll take the over) alike.


Cancer, and as you'd say, 'the rest of them', derserve more funding.

PeterLemonJello's picture

"Tell that to those who contract the disease via blood transfusions, used needles, and lying sexual partners, both hetero and queer alike."

Blood transfusions - be more f'ing careful

Used needles - maybe don't, you know, shoot up in the first place?

Lying sexual partners - be honest.....

No, it looks like everything is totally and completely avoidable if people weren't such demented fucking losers.  Anything else?


Estimated Number of Diagnoses of HIV Infection, 2010 Adult and Adolescent Males Adult and Adolescent Females Total Male-to-male sexual contact 28,782 - 28,782 Injection drug use 2,373 1,393 3,766 Male-to-male sexual contact and injection drug use 1,443 - 1,443 Heterosexual contacta 4,416 8,459 12,875 Otherb 31 16 47

Here is data from the CDC on HIV groups.

Aids is and has always been predominantly a behavioural disease.  Today most of the non Drug/Sexual transmissions have had safeguards improved. 

Cumulative Estimated Number of AIDS Diagnoses, Through 2010a Adult and Adolescent Males Adultand Adolescent Females Total Male-to-male sexual contact 541,330 - 541,330 Injection drug use 186,122 88,400 274,522 Male-to-male sexual contact and injection drug use 79,048 - 79,048 Heterosexual contactb 74,708 131,904 206,612 Otherc 11,851 6,289 18,140




ShrNfr's picture

Could have been worse, it could have been either Pelosi or Reid taking off their clothes.

JPM Hater001's picture

Naked activists are going to get anyone's attention in DC...there's no place to put the wallet for your bribe and they know it.

DeadFred's picture

They might get lucky at the SEC though...

Col_Sanders's picture

There's at least one place to put it - and that would give them Barney Frank's *undivided* attention...

adr's picture

So which SEC employee did GMCR pay off to pull that BS EPS beat out of its ass?

With every other coffee company putting out their own machines, including Starbucks, the Keurig is dead.

Watch out for a Groupon surge as well, the board may be kicking out the criminal CEO. Probably didn't do a good enough job cooking the books to give higher platforms for the insiders to jump off.

The bullshit continues.

Cdad's picture

Prepare to buy HDGE sometime next week.  Your anger should resolve just least on this particular matter.

Yen Cross's picture

 How can anyone even listen to Harry Reid? He sounds like a balloon running out of air! 

  Good God... I thought Pelosi was bad... Go back to Nevada Harry, and bury youself in an abandoned gold/silver mine!

buzzsaw99's picture

a banker puppet speaks then a banker algo sells the close. :yawn:

loveyajimbo's picture

Reid is a total asshole, incompetent and corrupt... if they ran anybody but a damn nut-roll against him last time he would have been dust... being a total roach, perhaps like the other corrupt roach Shapiro, he is headed for higher things... Holder for the Supreme Court?  Gensler for CIA??

sbenard's picture

I watched this happen real time, and had wondered what "caused" it. Futures still down as I type this.

Thanks, Harry! Scary Harry!

This chart shows who is REALLY holding the US economy hostage -- the Dictator of Debt and his cadre of collectivists!

I suggest we send this chart to EVERYONE we know and ask them that question: Who is the REAL hostage-taker?

Chuck Walla's picture

Harry & pals must have their short positions on, I assume?