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Cliff-On; Risk-Off

Tyler Durden's picture




 

Headline GDP better than expected (but ugly underneath); claims weak (moar QE); pending home sales (beat - confirmation bias). All is well, right? Stocks surged up to their highs of the day and Pisani proclaimed a deal is close (apparently). And then, one politician uttered those terrifying words:

  • REP. VAN HOLLEN SAYS ON MSNBC `WE'RE NOT CLOSE TO A DEAL'

and stocks dive almost instantaneously on large volume (even as most clueless algos google the name and most get hits of a certain 1980s rock band)... happy trading until 1130ET when Boehner will host a press conference.

 

 

Retesting back up to VWAP now as we all await Boehner's speech at 1130ET

 

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Thu, 11/29/2012 - 11:24 | 3020416 muppet_master
muppet_master's picture

ADD to SHORT @ spx 1415

Thu, 11/29/2012 - 11:26 | 3020436 muppet_master
muppet_master's picture

added to spx 1403

black friday shorts...RODE since then...was thinking about covering yesterday when spx @ 1385....but didn't, that's ok...i didn't know boehner was about to speak, until HOURS after he spoke...LOL !!! that's ok... that's what happens when you enjoy life, = you don't watch casino every second, or hour.

next week spx sub 1350 = cover then !!! OR IF your stupid cover now = AT THE TOP OF THE DEAD CAT BOUNCE !!

Thu, 11/29/2012 - 11:35 | 3020471 flacon
flacon's picture

Technical signals point to this move as the top - especially if we end today lower than the close. That would set us up for some downside action tomorrow and next week. Gravestone doji's, shooting stars, up to 50 dma, overbought conditions... everything technical is pointing lower from here. But who knows - the market is rigged..... 

 

http://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=0&mn=3&dy=0&id=p91748748804

 

http://stockcharts.com/h-sc/ui?s=QQQ&p=D&yr=0&mn=3&dy=0&id=p42665538167

 

http://stockcharts.com/h-sc/ui?s=AAPL&p=D&yr=0&mn=3&dy=0&id=p99120960514

 

http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=3&dy=0&id=p44589035528

Thu, 11/29/2012 - 11:36 | 3020485 Cognitive Dissonance
Cognitive Dissonance's picture

As we have often seen over the last few years neither technicals nor fundamentals matter until and unless "the hand" wants them to matter.

Thu, 11/29/2012 - 11:36 | 3020487 redpill
redpill's picture

Seek medical attention if you experience a Boehner for more than 4 hours.

Thu, 11/29/2012 - 11:49 | 3020534 Boris Alatovkrap
Boris Alatovkrap's picture

Circle Jerk of Irrational Exuberance

Thu, 11/29/2012 - 11:50 | 3020541 1fortheroad
1fortheroad's picture

So, your out of the money now and you blame it on a DEAD CAT BOUNCE??

 

 

Crazy Rabbit

Thu, 11/29/2012 - 12:41 | 3020718 asteroids
asteroids's picture

This is not a healthy market. Although I would love to short it, I'm staying in cash.

Thu, 11/29/2012 - 11:29 | 3020449 Capitalist
Capitalist's picture

Be careful, the market is about to be jawBoehned higher.

Thu, 11/29/2012 - 12:02 | 3020498 dracos_ghost
dracos_ghost's picture

It doesn't matter who "boehners" it. These fuckers on both sides are already going to raise the debt ceiling, so what is the point of these "fiscal cliff" talks other than goose Twitter throughput and provide fodder for the algos.

Thu, 11/29/2012 - 11:39 | 3020476 TruthInSunshine
TruthInSunshine's picture

Dirty Muppet Laundry

 

 

"Stocks" get their misdirection from the daily empty muse
Just give 'em something, something they can use
HFT-algobots love it when Muppets lose,
They love Reid-Boehner-Zedbama laundry

 

Limp Reid 'em when they're up
Boehner 'em when they're down
Limp Reid 'em when they're up
Boehner 'em when they're down
Then Zedbama them all around

Thu, 11/29/2012 - 11:59 | 3020573 Anasteus
Anasteus's picture

'to zedbama' is a synonym for 'to corzine'?

Thu, 11/29/2012 - 11:24 | 3020419 Cognitive Dissonance
Cognitive Dissonance's picture

How does one treat for whiplash?

<Stay out of the market greater fool.>

<< (Except [of course] if you're a professional. /sarc)>>

Thu, 11/29/2012 - 11:23 | 3020420 DavidC
DavidC's picture

Yeah but still over 1400/13,000...

DavidC

Thu, 11/29/2012 - 11:23 | 3020421 Calidreaming
Calidreaming's picture

EVERY ONE HERE KNOWS A FEW THINGS:

1- THERE WILL BE A DEAL

2- MARKET WILL GO FULL RETARD ON THE DEAL.

3- ITS FUCKED UP

 

 

Thu, 11/29/2012 - 11:28 | 3020443 Punct
Punct's picture

If this would happen, and there's a likely possibility that it will, the fall will be even bigger.

Thu, 11/29/2012 - 11:37 | 3020494 flacon
flacon's picture

No deal until January. USA downgraded by Fitch in January. Market crashes and Obama can instute his new changes to the Constitution. 

Thu, 11/29/2012 - 11:51 | 3020542 TruthInSunshine
TruthInSunshine's picture

Does he get to pack the Supreme Court with 12 "Justice-y" people and declare a 3rd term, too?

Thu, 11/29/2012 - 11:30 | 3020455 SheepDog-One
SheepDog-One's picture

Depends...the Zionist Jew FED owners may just as likely have the script written for another market crash churn and burn time...we mere goyim dont know.

Thu, 11/29/2012 - 11:37 | 3020492 the not so migh...
the not so mighty maximiza's picture

We know how the play acts out, ceiling raised, US downgraded into the sewer, mass rally.

 

 

Thu, 11/29/2012 - 11:55 | 3020556 SMG
SMG's picture

The owners of the Fed are Luciferian and not Jewish.  It's important the right people and their system get the blame when the torches and pitchforks come out into the streets.

Thu, 11/29/2012 - 12:09 | 3020604 pods
pods's picture

How about we just call them fractional reserve bankers?

Then everybody can hate them.

pods

Thu, 11/29/2012 - 13:11 | 3020884 SheepDog-One
SheepDog-One's picture

Fairy tales arent real and 'lucifer' doesnt exist. Theyre Jews.

Thu, 11/29/2012 - 11:23 | 3020422 Bay of Pigs
Bay of Pigs's picture

Time for another Boehner...

Some Morning Wood on the way.

Thu, 11/29/2012 - 11:29 | 3020451 Cognitive Dissonance
Cognitive Dissonance's picture

Already had mine, but thanks for caring. :)

Thu, 11/29/2012 - 11:34 | 3020477 azzhatter
azzhatter's picture

Me too, more like Pine than oak

Thu, 11/29/2012 - 11:44 | 3020517 Cognitive Dissonance
Cognitive Dissonance's picture

If I was being honest (which I am not) it would be more like a weeping willow. :)

Thu, 11/29/2012 - 11:23 | 3020423 slaughterer
slaughterer's picture

That's what Van Hollen says. But what does David Lee Roth say about the deal?

Thu, 11/29/2012 - 11:25 | 3020430 HyperLazy
HyperLazy's picture

Might as well Jump...

Thu, 11/29/2012 - 11:32 | 3020465 slaughterer
slaughterer's picture

+1

Thu, 11/29/2012 - 11:31 | 3020457 blunderdog
blunderdog's picture

5150, baybee.

<sniff>

"Congress got a plan, man.  Ain't funny what they're doing with our money, but the deals are burnin like the wheels are turnin and next year's gonna a fine time for a mind like mine."

 

Thu, 11/29/2012 - 11:32 | 3020469 otto skorzeny
otto skorzeny's picture

5150 was Van Hagar-no relation to the other

Thu, 11/29/2012 - 11:41 | 3020508 blunderdog
blunderdog's picture

5150 is the police code for mentally ill folks in California...there's a very telling hint in the album title.

(I do understand he's over all that stuff these days.)

Thu, 11/29/2012 - 12:09 | 3020545 TruthInSunshine
TruthInSunshine's picture

What about OU812, then?

Or The Mind Is A Terrible Thing to Taste?!!! [okay, it's Ministry, but still...]

 

"There have been spontaneous demonstrations by party workers, voicing gratitude and joy," and "The system will eat itself" bitchez.

Thu, 11/29/2012 - 12:11 | 3020614 fuu
Thu, 11/29/2012 - 12:22 | 3020650 TruthInSunshine
TruthInSunshine's picture

Fugazi'd markets?

Fugazi - Waiting Room
Thu, 11/29/2012 - 12:14 | 3020626 blunderdog
blunderdog's picture

I was always more amused by The Revolting Cocks.

Thu, 11/29/2012 - 11:31 | 3020461 icanhasbailout
icanhasbailout's picture

David Lee Roth is willing to make the deal in Washington Square Park

Thu, 11/29/2012 - 11:33 | 3020473 otto skorzeny
otto skorzeny's picture

DLR is jewish-so he is privvy to Wall St insider news

Thu, 11/29/2012 - 11:36 | 3020489 TheEmperor
TheEmperor's picture

'Runnin' with the Devil?'

Thu, 11/29/2012 - 11:23 | 3020424 FLUSA.com
FLUSA.com's picture

Gotta love Howie Mandel

Thu, 11/29/2012 - 11:24 | 3020426 Dr. Richard Head
Dr. Richard Head's picture

That's OK, Obama will be in Oahu when I am.  I will see if I can meet and talk with him about just crashing this whole system and getting the reset started. 

Thu, 11/29/2012 - 11:27 | 3020439 SheepDog-One
SheepDog-One's picture

He only takes orders and follows the plans of his Jew puppeteers.

Thu, 11/29/2012 - 11:25 | 3020427 LongSoupLine
LongSoupLine's picture

fuck you pisani you sell side fuckstick asstoy!

Thu, 11/29/2012 - 11:34 | 3020479 otto skorzeny
otto skorzeny's picture

I hate that MFer more than anyone on that channel- and that is saying something

Thu, 11/29/2012 - 11:51 | 3020543 Squid Vicious
Squid Vicious's picture

Pissonme is gayer than a 3 dollar bill, and his wife doesn't even know

Thu, 11/29/2012 - 11:36 | 3020484 azzhatter
azzhatter's picture

Not your favorite? Pisani is living proof that any asswipe can get a job at CNBS

Thu, 11/29/2012 - 12:08 | 3020599 optimator
optimator's picture

Well, they had to have at least one minority guy on the show.

Thu, 11/29/2012 - 12:38 | 3020696 TruthInSunshine
TruthInSunshine's picture

Bob Pissonme, the literal, textbook definition of "washout" & the Andrea Gail of real estate develoment

If Pisani and Ron Insana opened a fund, that'd be epic (epic failure to the nth power)

Thu, 11/29/2012 - 11:25 | 3020429 VonManstein
VonManstein's picture

its all so stupid

Thu, 11/29/2012 - 11:26 | 3020432 Nid
Nid's picture

3Q GDP revision of 2.7 was beter than last, but worse than the expected 2.8%

Thu, 11/29/2012 - 11:26 | 3020435 SheepDog-One
SheepDog-One's picture

LOL all we've got now is politicians tag-teaming equities! Gotta love this shit!

Thu, 11/29/2012 - 11:27 | 3020438 Venerability
Venerability's picture

Yahoo Finance totally un-navigable as of 30 minutes ago.

Feels like a Denial of Service attack.

Reported to police and regulatory authorities.

 

 

 

Thu, 11/29/2012 - 11:28 | 3020445 SheepDog-One
SheepDog-One's picture

Call da PO-LEECE!

Thu, 11/29/2012 - 12:11 | 3020611 Caracalla
Caracalla's picture

Venerability, I followed a discussion of yours on SA concerning PZG but it ended in early November.  Is there any update since then that you would be willing to share?  THanks

Thu, 11/29/2012 - 11:27 | 3020440 Shizzmoney
Shizzmoney's picture

I hope they don't get a deal done.  This country, especially the top, needs pain.

Thu, 11/29/2012 - 11:28 | 3020442 youngman
youngman's picture

But what does Junker say??????

Thu, 11/29/2012 - 11:30 | 3020452 muppet_master
muppet_master's picture

boehner to speak again??

say ZH...he's to speak @ 11:30 EST = 0830 PST for me.  1 hr from now.....i have a "stupid" quesiton, so if you flip a coin twice and get heads, do you get heads on the 3rd time (boehner speak 3rd time) = NO !!

Thu, 11/29/2012 - 11:30 | 3020454 cabtrom
cabtrom's picture

So is the pie growing or are traders fighting over remaining crumbs?

Thu, 11/29/2012 - 11:31 | 3020456 Stuart
Stuart's picture

wash, rinse, repeat.  All sounds like the EU. 

Thu, 11/29/2012 - 11:31 | 3020460 Dr. Engali
Dr. Engali's picture

Seriously...MSNBC? What's the viewing audience there? A couple thousand ? The robots must be grasping for anything they can. I think we should do a twitter bomb and see what happens.

Thu, 11/29/2012 - 11:36 | 3020486 otto skorzeny
otto skorzeny's picture

their audience consists of a few thousand dykes that watch Rachel Dildo.

Thu, 11/29/2012 - 11:37 | 3020491 azzhatter
azzhatter's picture

I'm thinking all 6 viewers sold their mutual funds

Thu, 11/29/2012 - 11:31 | 3020464 Inthemix96
Inthemix96's picture

Dont worry its all priced in.

The resulting reflex gag will assume its all bullshit anyhow.....

Forward comrades, the cliff of hades awaits.....

Thu, 11/29/2012 - 11:35 | 3020470 mdtrader
mdtrader's picture

If and when they finally get a deal done. The market will probably sell the news!

Thu, 11/29/2012 - 11:46 | 3020522 Winston Churchill
Winston Churchill's picture

Indubitarily.

More interested in the bond market reaction.

Unless 4 trillion in cuts are part of the deal(not),rates will rise whatever

Zimbabwe Ben does.

A lot of burnt fingers coming either way.

Thu, 11/29/2012 - 11:34 | 3020475 Tsar Pointless
Tsar Pointless's picture

Q: What does the "Fiscal Cliff" crisis have in common with 9/11 and the 2008 financial crisis?

A: There is a plan in place before the even occurs, and the politicians will have written/read NONE of it.

9/11=Patriot Act I & II

2008 financial crisis=TARP

"Fiscal Cliff"=???

As always, we, the sheeple, will be the last to know.

We now return to your regularly-scheduled program, already in progress.

Thu, 11/29/2012 - 11:36 | 3020480 virgilcaine
virgilcaine's picture

It's fiscal ping pong.. what could possibly go wrong?

Thu, 11/29/2012 - 11:36 | 3020483 venturen
venturen's picture

Resistance is futile....Ben will outprint any doubters....To infinite and beyond!

Thu, 11/29/2012 - 11:38 | 3020496 Iam Yue2
Iam Yue2's picture

The pending house sales rally, dutifully ramped on twitter by those that should know better, has to have been one of the shortest rallies of the last five years; it lasted all of 97 seconds, and many fingers were burnt in the stampede to get out the door.

 

#banality

Thu, 11/29/2012 - 11:38 | 3020497 disabledvet
disabledvet's picture

What the puck do I care? Outside of "pattern confirmation" most States in the Union are beyond bankrupt now anyways.

Thu, 11/29/2012 - 11:39 | 3020502 Dr. Engali
Dr. Engali's picture

Just like the debt ceiling debacle the politicians are looking for their moment in the spotlight , but in the end they will reach a deal and it will be heralded throughout the land that they were able to " solve" the problem that they created in the first place.

Thu, 11/29/2012 - 11:49 | 3020531 roadhazard
roadhazard's picture

I can't believe anyone listens to anything, "fiscal cliff". Just like all the election hype I really do not care and switch the channel at the mere mention. Everything is BS. I am reduced to Imus in the morning because at least he realizes he is also BS and makes fun of it.   

Thu, 11/29/2012 - 11:57 | 3020564 LouisDega
LouisDega's picture

Imus is a class act. He has stood the test of time. I remember listening to him on wnbc in the 70's as a kid when i went to work with my father in the summer. Great memories.

Thu, 11/29/2012 - 11:54 | 3020551 virgilcaine
virgilcaine's picture

What interest is it for Bohner to get a deal done?  They've already been destoyed post election and a deal would make them look even weaker. A lap dog for Obama if you will.

Thu, 11/29/2012 - 11:56 | 3020562 Boilermaker
Boilermaker's picture

Yea, RISK OFF, SPX only up 7 handles and will close less that 20 up.

This is the big collapse!!!!  Get your puts now!

Thu, 11/29/2012 - 12:12 | 3020617 Yen Cross
Yen Cross's picture

Boehner went " limp dick"... 1/2 life 12 hours!

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