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Boehner Arouses Market As Reid Beatdown Forgotten

Tyler Durden's picture




 

Just 12 days ago (before the cone of silence began), we saw the beginning of the Boehner bounce as the speaker spaketh and the market obeyeth. Headline-chasing algos know only one thing it appears, when Democrats speak, sell; when Republicans speak, buy... oh how we love these efficient markets...

It seems someone somewhere was desperate to see a Green day...

 

and as we pointed out two weeks ago (before the cone of silence)...

 

Charts: Bloomberg

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Wed, 11/28/2012 - 11:59 | 3017538 forwardho
forwardho's picture

.

Wed, 11/28/2012 - 11:59 | 3017539 Shizzmoney
Shizzmoney's picture

It's extortion.  Pure and simple.

God I hope I win the lottery tonight haha

Wed, 11/28/2012 - 11:59 | 3017542 slaughterer
slaughterer's picture

From now on, the mere mention that Reid or Boehner will make a statement soon will cause front-running algos to go berserk.  It will not matter any longer what they say.  

Wed, 11/28/2012 - 12:01 | 3017543 Yen Cross
Yen Cross's picture

 I just wish I knew when the remarks were coming so I can close every fucking trade I have before hand... Who needs technicals or macro news with one sentence grabbing algos!

This shit is an absolute joke. It only pales in comparision to that gaping blowhole Mario Draghi!

Wed, 11/28/2012 - 12:06 | 3017563 fonzannoon
fonzannoon's picture

Good luck trading this hot dogshit Yen. Charts are not going to help you when one of these blowhards feel like getting in front of a mic.

Wed, 11/28/2012 - 12:18 | 3017598 Yen Cross
Yen Cross's picture

 I knew I shouldn't have let my sell order get hit after that housing news. I should have waited for the second 1/2 of the N.Y. session, but I have meetings later.

Wed, 11/28/2012 - 12:55 | 3017694 Nadaclue
Nadaclue's picture

Well, Barky O. was supposed to speak @ 11:35 EDT but he's late. Must'a had to coordinate a Jihad in Egypt or sumptin. He'll be promising rainbow skittles and unicorns as he turns to the sheeple to support his idiotic agenda.

Hard to say what the algo's will do though, prolly sell as they love the volatility.

Wed, 11/28/2012 - 12:01 | 3017548 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Boner '16!

Wed, 11/28/2012 - 12:05 | 3017561 kralizec
kralizec's picture

Leave your Boner alone, that thing ain't a toy ya know!

Wed, 11/28/2012 - 12:02 | 3017552 buzzsaw99
buzzsaw99's picture

keep talking boehner it feels good

Wed, 11/28/2012 - 12:03 | 3017556 Squid Vicious
Squid Vicious's picture

always fade a market boehner

Wed, 11/28/2012 - 12:05 | 3017560 slaughterer
slaughterer's picture

Warren Buffett low-balling and sand-bagging expectations about fiscal-cliff fix this morning.   

Any happy talk the market gets from now on will lead to explosions.  

Wed, 11/28/2012 - 12:07 | 3017565 fonzannoon
fonzannoon's picture

Jon Stewart did a great impression of Becky Quick in the bathtub with Warren last night.

Wed, 11/28/2012 - 12:07 | 3017564 orangegeek
orangegeek's picture

Always interesting to watch a bounce like this on dogshit volume.

 

Algos have to make money somehow and so do their customers/pensions.  Trading blocks amongst themselves is similar to QE infinity - it runs out of rope eventually.

 

Brokerages must be making a killing on commissions - not.

Wed, 11/28/2012 - 12:19 | 3017572 DollarDive
DollarDive's picture

 

 

You say Boehner

I say Boner

Beohner

Boner

Beohner

Boner

Let's hurt the shorts today !

 

(valuations do matter....AHHaaahhaaa...hahahahaha.... please)

 

http://www.newyorkfed.org/markets/FRBNY_ECB_Swap_Agreement.pdf  
(and NYFed says that they didn't intervene in currency markets in 3rd quarter....lol)

http://www.newyorkfed.org/markets/liquidity_swap.html

Is it a coincidence that the President is speaking at 1135am est - after European Markets close ? 

Wed, 11/28/2012 - 12:13 | 3017584 Atlantis Consigliore
Atlantis Consigliore's picture

Gort! http://youtu.be/sIaxSxEqKtA

Klaatu Barada Nikto:  FED:  Do not Destroy!  (Greece is fine, or a little France Devaluation Socialism)   Millionaires are fleeing on the space ship; last one shut the lights.     

Wed, 11/28/2012 - 12:16 | 3017589 Bastiat
Bastiat's picture

Yesterday on NPR there was part one of a chummy chat with the Obfuscator of Omaha.  Part 1 ended with softball questions about the robustness of the american economy, complete with staged surprise responses to Buffet's rosy bullshit.  Part 2 was to follow this morning.  Seems like a PR campaign is underway.

Another note on PR (btw that is a euphemism invented by Bernays for propaganda):  two big movies this Christmas:  one on Lincoln (Daniel Day Lewis) and one on Roosevelt (Bill Murray).  Think about what they had in common with respect to federal power . . . buckle up for 2013.

 

Wed, 11/28/2012 - 12:16 | 3017592 Frank N. Beans
Frank N. Beans's picture

boner and reid laughing all the way to the bank at all the money they're making off this. 

"Ok Reid, your turn!"  hahahahahahah

 

Wed, 11/28/2012 - 12:18 | 3017599 Boilermaker
Boilermaker's picture

Clinking beers later at the most expensive steakhouse in D.C.

Wed, 11/28/2012 - 12:25 | 3017630 Bay of Pigs
Bay of Pigs's picture

Some may think this is <sarc>.

It isn't. It is exactly what these guys do.

Wed, 11/28/2012 - 12:34 | 3017655 Bastiat
Bastiat's picture

.... and it's perfectly legal - they get a pass on insider trading.  It's actually one of their more honest ways of making money!

Wed, 11/28/2012 - 12:29 | 3017637 BlueCollaredOne
BlueCollaredOne's picture

I dont know where they have been hiding, but it's not at Charlie Palmers steakhouse.  Its walking distance from the capital, and has some damn good beef.

I hear that a Tyler Durden works there and sometimes accessorizes the menu with his own personal selections.  A true culinary terrorist. 

Wed, 11/28/2012 - 12:17 | 3017594 khotel
khotel's picture

The pattern has been clearly set after the election that any time the market slumps a little bit, Boehner is trotted out there to goose it.    On another note, just finished reading "When Money Dies" by Adam Fergusson.   It's lamentable that even today, so many are  of the belief that masterminds in the government have the answers to what ails us. 

Wed, 11/28/2012 - 13:08 | 3017734 NotApplicable
NotApplicable's picture

Yeah, cuz as we know, ALL the geniuses in society go to law school, or take up social facade engineering (without acknowledging the facade).

 

Wed, 11/28/2012 - 12:21 | 3017615 Boilermaker
Boilermaker's picture

Check out the Russel 2k...

AHAHAHAHAHAAAHAH

Man, that's some fucking funny shit, right there.

Jesus Christ...give me a break.

Wed, 11/28/2012 - 12:26 | 3017632 DollarDive
DollarDive's picture

Transports too...... Yo Yo..... no trend completely manipulated by media and politicians.

Wed, 11/28/2012 - 12:27 | 3017633 Clowns on Acid
Clowns on Acid's picture

Waiting for the next chirp from the members of the Politburo.....then news based algo trading.

Soooo......waiting for the Grand Bargain.....which will only kick can down the road. I mean thats what the banks want correct?

Wed, 11/28/2012 - 12:28 | 3017640 Implicit simplicit
Implicit simplicit's picture

Headline: Boner Shooting Off Again Destroys Shorts

Wed, 11/28/2012 - 12:30 | 3017644 DollarDive
DollarDive's picture

1130 - Europe Closes

1135 - Obama talks about how they're closer to a deal

1136 - Transport Buy Algos "ON"

1136:01 - ES mini levitation

1137 - Goldman and JP Morgan aggressively start to buy

1138 - European Central Bank starts dumping Euro

1139 - Fed starts buying dollars

1140 - SPY +150

330pm - Selling Into Strength - Goldman and JP get flat

341 - retail stops all hit and wiped out

Rinse  / Repeat Again

Wed, 11/28/2012 - 12:30 | 3017646 4exNinja
4exNinja's picture

Because clearly politicians empty words are a good way to gauge the market...as opposed to a real analysis. Makes perfect sense :D

Wed, 11/28/2012 - 13:31 | 3017837 Grand Supercycle
Grand Supercycle's picture

RALLY WARNING

Massive SPX buy support returns, causing short covering spikes.

Substantial USD selling returns too - which supports stocks.

http://trader618.com
http://tinyurl.com/ZH-Forum

Wed, 11/28/2012 - 16:03 | 3018290 Mad Mohel
Mad Mohel's picture

"Boehner Arouses"......... stopped reading.

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