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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 | Link to Comment muppet_master
muppet_master's picture

ADD to SHORT @ spx 1415

Thu, 11/29/2012 - 11:26 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment redpill
redpill's picture

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

Thu, 11/29/2012 - 11:49 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Circle Jerk of Irrational Exuberance

Thu, 11/29/2012 - 11:50 | Link to Comment 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 | Link to Comment 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 | Link to Comment Capitalist
Capitalist's picture

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

Thu, 11/29/2012 - 12:02 | Link to Comment 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 | Link to Comment 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 | Link to Comment Anasteus
Anasteus's picture

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

Thu, 11/29/2012 - 11:24 | Link to Comment 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 | Link to Comment DavidC
DavidC's picture

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

DavidC

Thu, 11/29/2012 - 11:23 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment SheepDog-One
SheepDog-One's picture

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

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

Time for another Boehner...

Some Morning Wood on the way.

Thu, 11/29/2012 - 11:29 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Already had mine, but thanks for caring. :)

Thu, 11/29/2012 - 11:34 | Link to Comment azzhatter
azzhatter's picture

Me too, more like Pine than oak

Thu, 11/29/2012 - 11:44 | Link to Comment 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 | Link to Comment 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 | Link to Comment HyperLazy
HyperLazy's picture

Might as well Jump...

Thu, 11/29/2012 - 11:32 | Link to Comment slaughterer
slaughterer's picture

+1

Thu, 11/29/2012 - 11:31 | Link to Comment 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 | Link to Comment otto skorzeny
otto skorzeny's picture

5150 was Van Hagar-no relation to the other

Thu, 11/29/2012 - 11:41 | Link to Comment 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 | Link to Comment 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 | Link to Comment fuu
Thu, 11/29/2012 - 12:22 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Fugazi'd markets?

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

I was always more amused by The Revolting Cocks.

Thu, 11/29/2012 - 11:31 | Link to Comment icanhasbailout
icanhasbailout's picture

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

Thu, 11/29/2012 - 11:33 | Link to Comment otto skorzeny
otto skorzeny's picture

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

Thu, 11/29/2012 - 11:36 | Link to Comment TheEmperor
TheEmperor's picture

'Runnin' with the Devil?'

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

Gotta love Howie Mandel

Thu, 11/29/2012 - 11:24 | Link to Comment 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 | Link to Comment SheepDog-One
SheepDog-One's picture

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

Thu, 11/29/2012 - 11:25 | Link to Comment LongSoupLine
LongSoupLine's picture

fuck you pisani you sell side fuckstick asstoy!

Thu, 11/29/2012 - 11:34 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment optimator
optimator's picture

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

Thu, 11/29/2012 - 12:38 | Link to Comment 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 | Link to Comment VonManstein
VonManstein's picture

its all so stupid

Thu, 11/29/2012 - 11:26 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment SheepDog-One
SheepDog-One's picture

Call da PO-LEECE!

Thu, 11/29/2012 - 12:11 | Link to Comment 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 | Link to Comment 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 | Link to Comment youngman
youngman's picture

But what does Junker say??????

Thu, 11/29/2012 - 11:30 | Link to Comment 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 | Link to Comment cabtrom
cabtrom's picture

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

Thu, 11/29/2012 - 11:31 | Link to Comment Stuart
Stuart's picture

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

Thu, 11/29/2012 - 11:31 | Link to Comment 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 | Link to Comment otto skorzeny
otto skorzeny's picture

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

Thu, 11/29/2012 - 11:37 | Link to Comment azzhatter
azzhatter's picture

I'm thinking all 6 viewers sold their mutual funds

Thu, 11/29/2012 - 11:31 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment virgilcaine
virgilcaine's picture

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

Thu, 11/29/2012 - 11:36 | Link to Comment venturen
venturen's picture

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

Thu, 11/29/2012 - 11:38 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Yen Cross
Yen Cross's picture

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

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