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Spot The Odd One Out

Tyler Durden's picture




 

A funny thing happened today. For the first time, the equity and bond market closed red (and VIX green) on a Federal Reserve QE-announcement day. Gold outperformed stocks and Treasuries underperformed everything...

 

The S&P 500 futures contract has never closed red on the day of a QE announcement before...

 

VIX closed higher for the first time ever on a QE announcement day...

 

10Y Treasury Yields rose for the first ime ever on a QE announcement day...

 

From the FOMC announcement, Gold and Silver closed green but stocks, bonds, oil, financials, and apple all lost ground (as did the USD very modestly)...

 

Across Asset Classes - Treasury yields ended at highs, stocks at lows...

 

FX markets dominated by JPY weakness and EUR strength...

 

and across ETFs - there was an attempt to lever HYG (which has worked to grab stocks higher in the past) but it seems like rotation from TSYs to less-duration sensitive HY as stocks and vol tracked each other all afternoon...

 

Indices post-FOMC

 

Sectors post-FOMC

 

Financials post-FOMC - look at BofA's 'odd' move into the close...

 

 

Charts: Bloomberg and Capital Context

 

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Wed, 12/12/2012 - 17:08 | 3057270 TruthInSunshine
TruthInSunshine's picture

Not just any QE day, either.

The full Monty, bitches.

Wed, 12/12/2012 - 17:12 | 3057283 Mad Mohel
Mad Mohel's picture

Yeah Full Monty with a limpy. Way to work it Bernanke.

I bet he is in his crypt right now beating the dead organ with a stack of freshly printed fiat. Whimpering, "work damn you, work!"

Wed, 12/12/2012 - 17:39 | 3057400 pupton
pupton's picture

Does it look anything like the objects in your avatar picture?

Wed, 12/12/2012 - 17:46 | 3057417 The Shootist
The Shootist's picture

Ammo, the new gold, bitchez!

Wed, 12/12/2012 - 22:46 | 3058205 Boris Alatovkrap
Boris Alatovkrap's picture

Gold, Silver, Platinum, Bullets - the NEW PM Asset Group.

Wed, 12/12/2012 - 17:47 | 3057421 ThaBigPerm
ThaBigPerm's picture

One can dream, can't they?

 

http://www.youtube.com/watch?v=R-W2rTj1bsY

Wed, 12/12/2012 - 17:14 | 3057295 camaro68ss
camaro68ss's picture

The bernake is a ass hat

Ill be watching TV when an image of the bernake pops up. by natural instinct i say fuck you bernake and flip my tv off.

My wife asks me every time. "why do you hate that guy" my awnser, "because hes an ass hat." she just shakes her head and we carry on with our night.

Wed, 12/12/2012 - 17:21 | 3057351 HoofHearted
HoofHearted's picture

ooh oooh ooh, I know. Pick me, Mr. Cotter. It's the last one. It's the one not like the others.

Yes it is. And it is saying, "Fuck you, Ben Bernanke."

Wed, 12/12/2012 - 17:29 | 3057374 Dr. Richard Head
Dr. Richard Head's picture

Every time Benny sings, a bankster gets his things.  Wait....wrong movie. 

Wed, 12/12/2012 - 17:26 | 3057381 ZeroAvatar
ZeroAvatar's picture

My wife, bless her heart, pretends to understand what I'm telling her.  After a few 'printing', 'billions', 'unsterilized', 'inflation', she's still standing there pretending to look interested (undoubtedly stifling a yawn). 

 

I end up by saying, "Our silver's up a bunch today, and will be a whole bunch more soon". That, she understands.

Wed, 12/12/2012 - 17:31 | 3057385 Mad Mohel
Mad Mohel's picture

Ah women, their ignorance is cute......till it isn't. You must be recently married. I'd keep half that stack on the side JIC  ;)

Wed, 12/12/2012 - 17:38 | 3057397 camaro68ss
camaro68ss's picture

I try not to tell my wife about whats going on. I want her to live the best normal sheeple life she can before the SHTF. All my gear is for "camping" food storage is for "earthquakes". luckly her grandfather been buying silver since it was $2 an ounce so she doesnt mind the PM stacks.

Its going to be hard to tell her game over when the SHTF. No more cell phones, fancy shoes, and shopping. time to go camping at the ranch for the rest of our lives.

Wed, 12/12/2012 - 17:40 | 3057405 Mad Mohel
Mad Mohel's picture

LOL "I want her to live the best normal sheeple life"  classic. I watch mine sometimes and wonder WTF is going on inside her head. Troubling but amusing nonetheless. LOL normal sheeple life.

Wed, 12/12/2012 - 17:47 | 3057423 camaro68ss
camaro68ss's picture

My thoughts are, as long as someone know WTF is going on, like me, then the rest of the family can be ignorant and live in bliss. Might as well let them have what little time left we have living "normal" lives. Me and my old man have our familys future covered in all aspects for the long term.

Wed, 12/12/2012 - 22:07 | 3058117 uncle_vito
uncle_vito's picture

You must have your home safe stocked with guns, ammo, gold and cash in small bills.   What is scary is what you cannot anticipate.

Wed, 12/12/2012 - 17:41 | 3057407 becky quick and...
becky quick and her beautiful mouth's picture

i do the EXACT same thing, my friend. 

Wed, 12/12/2012 - 17:50 | 3057433 centerline
centerline's picture

I provide some watered-down information from time to time so at least she is warmed up to the bigger concepts.  Too much information and she goes into rejection mode.  The hope is that when the SHTF conversation occurs, it will go more smoothly.

Realistically, the hardest part is the ongoing squeeze.  I warned several years ago that we were going to see our standard of living drop and progessively tougher choices will be needed... and this process will continue for what will likely be a long time.  I reinforce this notion every once and awhile.  It has made changes a little easier - but there is still stress.  She, like so many others, does not want to accept reality despite it being evident at our doorstep.  

Wed, 12/12/2012 - 18:04 | 3057472 camaro68ss
camaro68ss's picture

you put it in words better then i could. I do the some thing. everytime we go to the supermarket for food and she gasps at the food cost i always say "its only going to get worse."

She knows the out standing issues and what it will lead too but just doesnt want to talk about it nor does she want to see it.

our area we live in is starting to go down hill. As of last week she no longer feels safe to go out on her own. Shes now accepting the Taser gun I want to give her. ( cant have a gun because we live in california)

  

Wed, 12/12/2012 - 18:49 | 3057625 Strider52
Strider52's picture

Camaro: I'm beginning to notice it too. I used to have packages delivered to my front doorstep, and they'd be there when i got home. Three weeks ago, UPS delivered ("left at front door" tracking..) a package and it was gone, ripped off. Now I deliver to my work address.

BTW, I live in Cali and we're armed to the teeth.

Wed, 12/12/2012 - 19:41 | 3057755 Cunnial
Cunnial's picture

Wow, at least you lot can never be accused of stereotyping. Who ever said chivalry was dead? Your wives must be so proud (if they could think for themselves)...

Wed, 12/12/2012 - 17:47 | 3057425 MachoMan
MachoMan's picture

I try and do the opposite (try being the key word).  There needs to be as seemless of a transition as possible from unsustainable sheeple land to whatever may come.  The more skills and the more mentally prepared wifey is when going in, the better you'll fare...  further, should you not be around (which is what tends to happen to us idiot males vested with protecting things and what not), then she'll be completely lost (and your children with her) if she doesn't learn things for herself.  Of course, most of the types of lifestyle changes are not particularly difficult and even cavemen can do them...  but, I'd prefer to have redundancy in skill sets where possible (the division of labor still being necessary due to resource constraints/time/efficiency).

Wed, 12/12/2012 - 17:33 | 3057392 boogerbently
boogerbently's picture

Maybe they just needed to hear Blankfein say it.

Not only do Treasuries not keep up with inflation, but interest rates will rise, and they'll pay a fine for wanting out early.

(I,m paraphrasing, of course).

Gee......what's the NEXT safest investment????

Wed, 12/12/2012 - 17:17 | 3057322 Sudden Debt
Sudden Debt's picture

yep, it's time for the final preperations now.
Getting the food storage full, hide the PM's and cancel as many credit cards as you can.

Also, for the Ebay silver buyers: close down your accounts and ask for a deletion of your history records. it takes a few weeks to do so.
And start a new account where you buy some other small stuff to erase your silver and gold purchases.

Time is running out. maybe another 12 months at best before panick starts and prices explode.

Wed, 12/12/2012 - 17:28 | 3057376 camaro68ss
camaro68ss's picture

Silver? gold? guns? lol ooooo yeah i know what your talking about, yeah, I lost it all in this Tragic boating accident i had a few weeks ago. thats where i got this little scrape here. 

Wed, 12/12/2012 - 18:14 | 3057505 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

I am confident that when the Gubmint says jump, eBay will say 'how high'...Big Bro knows all, and he is not a very nice boy

Wed, 12/12/2012 - 18:45 | 3057610 atomiclown
atomiclown's picture

No, it's too late already.  You will be found in your little home with all the gold bars stuck in the basement. They will tear off your little arms and carry away all bars and coins before you can even breathe again ... You are doomed, there is now way you can escape the USSA

Wed, 12/12/2012 - 17:17 | 3057326 CPL
CPL's picture

MONKEYHAMMER TIME!!!

Wed, 12/12/2012 - 17:24 | 3057367 spastic_colon
spastic_colon's picture

somebody totally screwed up the script today and allowed red stuff

Wed, 12/12/2012 - 17:36 | 3057395 CPL
CPL's picture

Damn that guy...math.  Always forecasting correctly.

 

Damn math to hell.

Wed, 12/12/2012 - 18:18 | 3057522 KCTrader
KCTrader's picture

Looks like a great place to get the short the S&P futures. Nice big reversal day, close on the lows on a Fed day and the VIX finally poking its head up. Even if we get a cliff deal its going to mean some combination of higer taxes and lower govt spending, neither of which is expansionairy. So short away against todys high.

Wed, 12/12/2012 - 17:08 | 3057273 centerline
centerline's picture

Point of diminishing returns has been met.

Wed, 12/12/2012 - 17:20 | 3057336 Squid Vicious
Squid Vicious's picture

Wait til they put that old twat Yellen in charge... you ain't seen nothin yet!

Wed, 12/12/2012 - 17:22 | 3057356 El Viejo
El Viejo's picture

Chaos theory says first comes dininishing returns then negative returns.

Wed, 12/12/2012 - 18:12 | 3057496 CPL
CPL's picture

http://library.thinkquest.org/3493/noframes/chaos.html

"The first term, system, can be defined as the understanding of the relationship between things which interact. To better understand this idea, we will examine the example of a pile of stones. The pile is a system which interacts based upon how they were piled. If their initial piling is not in balance, the interaction results in their movement until they find a condition under which they are in balance. A group of stones which do not touch each other, however, are not a system because the interaction between is so minute, it can be considered non-existant."

 

 

Wed, 12/12/2012 - 17:09 | 3057277 muppet_master
muppet_master's picture

QEorganizer's

and his faithfull follower (bQE)....GNAMGANSTA-RAPING style "party" is OVER!!!

Wed, 12/12/2012 - 17:10 | 3057281 Lagging Indicator
Lagging Indicator's picture

All the kings horses and all the kings men

Could not get the Dow to close green again

Wed, 12/12/2012 - 17:10 | 3057285 ZippyBananaPants
ZippyBananaPants's picture

Has anyone ever finished a whole jar of Kirkland Signature Extra Fancy Mixed Nuts from COSTCO?  This thing has no bottom!!

Wed, 12/12/2012 - 17:26 | 3057375 El Viejo
El Viejo's picture

No but I'm close on that large can of Macadamia nuts. I swear that weird Hawaiin mono-unsaturated fat was doing strange things to my digestive track.

Wed, 12/12/2012 - 18:17 | 3057518 CPL
CPL's picture

Like catching all the downwind radiation from Japan that saturates Hawaii and the US West coast now.  Walnuts, SUn flower seed, peanuts and Almond anything is off the menu unless it's before Fukishima.  

Well so far so good, 2 years down.  Another 5400 years to go until the half life decay renders the radiation bleeding into the air and water from the plant is considered inert.

 

Good times, good times.

Wed, 12/12/2012 - 18:33 | 3057568 Osmium
Osmium's picture

Japan?  Fukishima?  What are you talking about?  There is nothing on the news about that.

/sarc

Thu, 12/13/2012 - 00:40 | 3058426 CPL
CPL's picture

Yes, Fukishima hasn't been fixed, most off the west coast of Canada and the US has been recieving a steady dose for two years.  Rice, meat, water that rains in California and Colorado...these aren't closed systems.  The earth is the closed system.

http://www.naturalnews.com/036204_Fukushima_radiation_California.html

http://www.zerohedge.com/contributed/2012-13-30/california-slammed-fukus...

http://www.reuters.com/article/2012/05/28/us-japan-nuclear-tuna-idUSBRE8...

http://www.gtweekly.com/index.php/santa-cruz-news/santa-cruz-environment...

http://www.davidicke.com/headlines/76224-california-kiwi-fruit-mutated-b...

http://fukushimanewsupdate.wordpress.com/category/california/

http://fukushimanewsupdate.wordpress.com/category/california/

http://www.youtube.com/watch?v=yw3IQnnKOU8

 

Japan is a Doomed Metropolis.  Radiation goes through everything but lead and uranium's half life is 5400 years until it's non-lethal.  High school chemistry should have drilled that into everyone's head or are people now allowed to graduate high school without basic sciences.  Maybe just showing my age.

As human's we are amazing at shitting in our own sand box.

Wed, 12/12/2012 - 17:09 | 3057286 michiganmaven
michiganmaven's picture

I think this is the last desperate act of 12 people who have no idea what the hell they are doing... when in doubt... PRINT !

Wed, 12/12/2012 - 17:10 | 3057288 NEOSERF
NEOSERF's picture

Not so calming to spend a trillion here, there and everywhere anymore...I have to think most American's and almost all CEOs are shaking their heads wondering why a government can't seem to do any belt tightening...seems that even if they wanted to they can't anymore.  This end date probably supercedes Bernanke's get out of town date, I'll bet.  Basically this is a keep rates at 3-4% until construction hires 2M people back.

Wed, 12/12/2012 - 17:10 | 3057289 kliguy38
kliguy38's picture

Not a surprise unless you consider that the Fed was buying SnP contracts faster than they were shorting gold and they BOTH went against their paper masters

Wed, 12/12/2012 - 17:10 | 3057293 auric1234
auric1234's picture

But wait, didn't Bloomberg say inflation is no concern for bond buyers?

Something is amiss. Maybe they just got it backwards?

 

Wed, 12/12/2012 - 17:18 | 3057327 SheepDog-One
SheepDog-One's picture

Nothing is a concern, until it suddenly is...and then they never heard of you before.

FB IPO great example of this.

Wed, 12/12/2012 - 17:19 | 3057332 Everybodys All ...
Everybodys All American's picture

Dude ... you came over to ZH for a reason.

Wed, 12/12/2012 - 17:10 | 3057294 ekm
ekm's picture

What is funny about it? Simple explanation.

 

There's not much left to trade. Fed + Primary Dealers have basically bought everything up.

Wed, 12/12/2012 - 17:11 | 3057298 Renewable Life
Renewable Life's picture

Get those guns blazing boys, we need fear in the world to keep those treasuries flying at low rates!! Anything else and it's game over, almost overnight!! One 5 year treasury auction failure in the US and the panic would be unstoppable immediately!!!!

Wed, 12/12/2012 - 17:12 | 3057299 RobotTrader
RobotTrader's picture

The Cosmic Joke that will be played on the King World News boys:

 

If gold rebounds and takes off towards new highs,

That means a global economic boom is underway and the Dow will push to 15,000 and beyond in 2013.

I liked the action in gold today, it will be very supportive of stock prices in the future.

Wed, 12/12/2012 - 17:14 | 3057313 SheepDog-One
SheepDog-One's picture

Yea too bad you sold your purported gold in the $900's, OH and BTW stocks are for dummies.

Wed, 12/12/2012 - 17:23 | 3057360 SheepDog-One
SheepDog-One's picture

'If gold goes up, that means global economic boom' 

Yea maybe 'KA-boom'

 

Wed, 12/12/2012 - 18:45 | 3057606 Winston Churchill
Winston Churchill's picture

Isn't it past your bedtime.

Where's your mother ?

Wed, 12/12/2012 - 17:12 | 3057300 WhiteNight123129
WhiteNight123129's picture

Short Treasuries Bitchez

 

Wed, 12/12/2012 - 17:15 | 3057301 WhiteNight123129
WhiteNight123129's picture

Short Treasuries Bitchez

LawOfPhysics I should have bet a beer with you.

 

Now an attack is necessary either on Spain or Japan so that sheeple flock to the Treasuries one MOAR time...

 

Wed, 12/12/2012 - 17:20 | 3057341 LawsofPhysics
LawsofPhysics's picture

Correct, the Fed finally broke their own market, see my post below.  Now shit gets interesting as the paradign must shift.  Attentions must now be diverted.  I am sure there is an "out", identifying that is the next big play.  Capitl is very much flowing still, wish I was an insider.

Wed, 12/12/2012 - 19:38 | 3057717 WhiteNight123129
WhiteNight123129's picture

The question is whether or not Bernanke expected that reaction. If he did not BIG BIG trouble. If he did the FDIC end of guarantee should make the curve steeper even by Jan 1st, then one should expect increase in circulation that is true inflation as opposed to price rising not due to increased circulation but due to currency debasement. Margins will suck, PEs will contract and nominal wages increase a bit faster. Rise in nominal GDP yet stock suck, Gold is baffled between end of printing interrogations and true inflation comin, i.e. sideways? Don't know, depends if people dump treasuries or not.

Now where is the next blind spot? Nikkei local consumption stocks?

 

There are bargains on the HK exchange.

Wed, 12/12/2012 - 17:46 | 3057415 Essential Nexus
Essential Nexus's picture

If you go short treasuries, your return is only in terms of the same fiat that will be worthless if you are right.  Long the shiny stuff instead.

Wed, 12/12/2012 - 19:36 | 3057656 WhiteNight123129
WhiteNight123129's picture

Nope, shorting treasuries is just not that dimension. When you short treasuries you borrow from Gov at 2.7% for 30 years, you lock the borrowing, than you can play with teh cash and repay confettis in 30 years best case. Many hedge funds want to borrow short term to economize, but if inflation is at 8% in 7 years and short term rates at 5.5%, by being not too greedy and locking borrowing cost long term now at 2.7% is better. Many hedge funds bhave like they are Bear Stearns with warehouse financing short term, with a short on 30Y  treasuries you have secured long term financing for your long positions. Now you need to know what to buy. Tobacco shares is the safest in my opinion, it is both inflation and deflation proofed. So never look at the short without looking at the long.

Wed, 12/12/2012 - 17:54 | 3057447 Flakmeister
Flakmeister's picture

If your short is via TBT you will loose just about no matter what the 30 year does....

Better off buying puts on TLT or selling call spreads....

Wed, 12/12/2012 - 17:13 | 3057302 LeisureSmith
LeisureSmith's picture

RUN....Get to da choppah!

Wed, 12/12/2012 - 17:15 | 3057304 SheepDog-One
SheepDog-One's picture

Dang it! Well....time to ramp up talk about the next QE event I guess!

Wed, 12/12/2012 - 17:17 | 3057305 LawsofPhysics
LawsofPhysics's picture

Yes, yields went up.  Game over.  The Federal Reserve is a private bank that just broke it's own market.  Like any private bank, the owners/management will shut it down and recover what they can for the shareholders.  How much does the treasury owe this private bank again?  What are the underlying assets of the U.S. again?  Just think about this for a bit.

I suggest that that treasury not renew the Fed's contract and begin printing paper to pay them back.  Heck didn't our constitution say the treasury can issue currency as a median of exchange?  If the treasury had been issuing currency all along, at least the debt would be owed to the American People.  Now it is owed and will be extracted by a few, very successful families.  Interesting times.

Wed, 12/12/2012 - 17:16 | 3057323 centerline
centerline's picture

The clean up side of things would be a bitch.  My guess is that by the time the bank is boarded up, the shareholders will already have what they want... and it will be gone.  Probably already is.

Wed, 12/12/2012 - 17:19 | 3057339 youngman
youngman's picture

That is the problem...we do not know what they own.....probably a lot more than we want to know....a lot more

Wed, 12/12/2012 - 17:32 | 3057388 john39
john39's picture

Rothschild wealth has been estimated at $50 Trillion, with a 'T'....   but, yes... it could be far more.   but hey, after the parasites are removed... there will be some money there that can be put to good use rebuilding a real culture/economy...  and no, this is not communism or socialism... this is seizing stolen property.

Wed, 12/12/2012 - 18:00 | 3057463 WTFx10
WTFx10's picture

Where is this "own" bullshit coming. They are CON men create $$ from nothing and sell the idea that this can be used for commerce. They create it and purchase what they want because WE let them. When WE do not let them what ever they purchased is up for sale to whatever currency will be used after WE decide WE are changing the rules and they are going to prison. Why make this transition more difficult than it needs to be the laws are there they use them on us. Criminal acts = confiscation. Too Bad So sad go get a fucking job. Making money by making money is a dead career.

Wed, 12/12/2012 - 18:19 | 3057520 LawsofPhysics
LawsofPhysics's picture

No, these people very much hold title to a number of physical assets, intellectual property, resource reserves, and other revenue-generating businesses.  Where do you think all that interest being paid to the Fed has been going all these years?  Moreover, their army of attorneys have changed the laws over the years, they have bought any and all representation where unlimited monies can be put into politics.  These people have their own armies that are trustworthy friends with military experience.  Please wake up.  I could point you to a couple remote and well fortified estates/plantations around the pacific and in the caribean that grow their own food and seem like pleasant "getaways".  Go ahead, just try and approach them and you won't even see the infared scope targeting you before you die.  These people come from a long line of families that have been very successful.  Their children are discipliined and well schooled in how things really work. Think about it, if you built an empire, why wouldn't you pass your secrets to succes on? and if you had the resources why wouldn't you live like that.  Please...

 

But I do appreciate the optimism.  Unfortunately, turning this all around is like trying to stop an elephant running down a 30 degree slope.  You can't do it without blood (i.e. killing the elephant).

Wed, 12/12/2012 - 19:25 | 3057628 flattrader
flattrader's picture

>>>I could point you to a couple remote and well fortified estates/plantations around the pacific and in the caribean that grow their own food and seem like pleasant "getaways".  Go ahead, just try and approach them and you won't even see the infared scope targeting you before you die.<<<

Yes, please do point them out.

Ionizing radiation doesn't respect their infrared scopes.  And a couple of strong EQs in the Pacific or Carribean will wreck your underground bunker and/or swamp your island.

"They" are hardly invincible...contrary to what you'd like us to believe.

Wed, 12/12/2012 - 19:20 | 3057700 WTFx10
WTFx10's picture

" Empire" ? " What part of fucking CON Job don't you comprehend? Google it.Only God can create something from nothing. The freedom to create money that YOU get to loan out and charge interest on. Something that you can make, Law of physics IF YOU CAN MAKE IT WHY DO YOU NEED TO CHARGE THE PEOPLE YOU LOAN IT TO TO MAKE A PROFIT IN THE SAME SHIT YOU CAN MAKE?

THEFT,CONJOB, Criminal , ARREST, Confiscate.

Will it happen FUCK NO, to many rectums on thier side.

 

Wed, 12/12/2012 - 23:57 | 3058353 jerry_theking_lawler
jerry_theking_lawler's picture

That is the purpose of the Fed....they are seizing 'assets' by printing confetti. They practially own all means of production (land and equipment and medium of exchange aka gold). it is like a big game aka Monopoly.

 

What is the strategy in Monopoly? Isn't it to get the 'big item tickets' like Parkplace, boardwalk, railraods, electricity....build some house, then hotels, then you sit back and rake in the dough.

 

These large families got the big item tickets in the late 1800s. they stacked the deck in the early 1900s. it has all been a means of simply acquiring all the additional wealth (ie getting all of the money from the Monopoly bank and purchasing the other players assets) until one player is holding all assets + medium of exchange aka gold. This is such a simple concept that we teach each and everyone one of our kids this rule......

Wed, 12/12/2012 - 17:21 | 3057346 Everybodys All ...
Everybodys All American's picture

it's going to be an epic storm.

Wed, 12/12/2012 - 17:47 | 3057418 fonzannoon
fonzannoon's picture

THere are several more acts in this play. Everyone on here is just aching for it to be over. This ain't over by a longshot. We still have all the fiscal cliff agreement rumors. Followed by grand bargain agreement rumors. Followed by some grand bargain where they spend a week discussing how the US is "fiscally sound again". Followed by bullshit job reports.....Everyone settle down. We still have a long ride.

Wed, 12/12/2012 - 18:19 | 3057477 LawsofPhysics
LawsofPhysics's picture

You are talking about theater.  Doesn't mean shit.  I'd say that the paradigm shift in capital flows is nearly complete.  2013 will be painful for many in America, no matter what the mainstream propaganda and political theater is doing.  It's about perspective/respect and when capital and talent are disrespected, they leave.  Fine, I hope the baby-mommas and baby boomers are ready to spend whatever stash they have because theather won't sustain them.

Wed, 12/12/2012 - 18:57 | 3057651 Winston Churchill
Winston Churchill's picture

LoP

Wish you were right on timing but I think they will struggle thru 2013 and

most of 2014 before the SHTF.

This isn't their first dance ,and they have a couple of fancy moves yet.

Patience.You will be longing for a return to the relative tranquility of these days.

No matter how prepared you think you are,you may well be surprised at how bad this

is going to be.Its been thirty years since I've been shot at, an experience I expect

to relive afresh.Hope I have enough adrenalin left in my older body to handle it.

Wed, 12/12/2012 - 17:13 | 3057311 azengrcat
azengrcat's picture

I don't get out of bed anymore unless my central bank dumps money directly into my 401K

Wed, 12/12/2012 - 17:17 | 3057316 RobotTrader
RobotTrader's picture

JNK and HYG up 18 consecutive days.

The junk "Paper" boom continues unabated.

Where is the "Recession"?

Where is the "Endgame"?

Where is Noland's "Inflection Point"?

Wed, 12/12/2012 - 17:19 | 3057334 SheepDog-One
SheepDog-One's picture

RoboTarders top-ticking return from the dead has been greatly exagerated. 

Wed, 12/12/2012 - 17:28 | 3057383 Squid Vicious
Squid Vicious's picture

surely it's a sign of a short-term top ... along with mkt's premature ejaculation to FOMC day

Wed, 12/12/2012 - 18:33 | 3057459 Flakmeister
Flakmeister's picture

I'll take Robo over any of the John Birch Society whackjobs that have been cluttering up the place since Herman Cain was leading the polls....

At least Robo is right ~1/2 the time....

Edit: Should have added that he doesn't understand PO a whit though....

Wed, 12/12/2012 - 17:25 | 3057368 Luke 21
Luke 21's picture

I love you man. One of the few voices of reason among the ZH clones.

Wed, 12/12/2012 - 18:55 | 3057645 CCanuck
CCanuck's picture

Where is your Mom?

I thought she took away your computer.

Wed, 12/26/2012 - 17:31 | 3097258 MeelionDollerBogus
MeelionDollerBogus's picture

indeed, writing puts into JNK & holding JNK > 90 days appears to have been useful. Holding > 1 year would be much better but then again from 2011 summer to 2012 spring would be very disappointing for bag-holders then.

Well, what can you do, that's still not too bad if one sold at the localized peak or write calls or buy puts to hedge that's the sensible choice. For the coming drop one might regret taking no hedges. For holding JNK 2 years start-to-finish it's largely flat, however, so holding SPY for that period would have been smarter, again hedging into the regular drops at the 14 month mark since last smash-down, like the one about to happen.

 

Wed, 12/12/2012 - 17:17 | 3057318 Dr. Engali
Dr. Engali's picture

That's not what is supposed to happen when the Bernank throws the " market " a free lunch. The " market " is supposed to show how grateful it is. This kind of behavior will not be tolerated! Kevin you're going to the naughty chair for not hitting the buy button.

Wed, 12/12/2012 - 17:21 | 3057343 SheepDog-One
SheepDog-One's picture

Damn INGRATE market peasants! NOW they'll feel the wrath of the vengeful Maniacal Monetizer Gawdz!

Wed, 12/12/2012 - 17:20 | 3057337 Sudden Debt
Sudden Debt's picture

somehow, you only believe this shit would happen when it's actually happening...
and nobody cares...
hardly a line on the MSN which will be gone when posts about chinese talking chickens top the interest in clicks...

Wed, 12/12/2012 - 17:19 | 3057340 phoolish
phoolish's picture

If a Trillion isn't enough then it's time to start dealing in Quadrillions.  Isn't it obvious?

Wed, 12/12/2012 - 17:22 | 3057358 Essential Nexus
Essential Nexus's picture

It IS different this time!!!

Wed, 12/12/2012 - 17:33 | 3057361 astoriajoe
astoriajoe's picture

ruh-roh raggie!

Wed, 12/12/2012 - 17:26 | 3057371 becky quick and...
becky quick and her beautiful mouth's picture

you guys should go over to huffingtonpost and read some of the comments.

 

"i don't really understand economics, but here's what i think..."

"obama wouldn't have appointed this man if he wasn't a great..."

 

really puts your average retard in to perspective.

Wed, 12/12/2012 - 17:27 | 3057382 SheepDog-One
SheepDog-One's picture

LOL fucktards! Though I love seeing their little sheeple ears perk up and eyes widen a bit at that first whiff of smoke.

Wed, 12/12/2012 - 19:45 | 3057764 WhiteNight123129
WhiteNight123129's picture

Greenspan is dull, Bernanke is a fake bozo, but wicked in reality.

 

Wed, 12/12/2012 - 18:45 | 3057611 GernB
GernB's picture

I'm sure if you look at enough of that persons posts I would guess you would find that they have cumulatibively said:

"i don't really understand economics... but I voted for Obama... and we need the rich to pay their fair share to fix the fiscal cliff."

Wed, 12/12/2012 - 17:26 | 3057378 SheepDog-One
SheepDog-One's picture

My precious Treasuries are fading....my preciouses....

Wed, 12/12/2012 - 17:40 | 3057402 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Expectations pumped the market and the PWG probably went short.  Remember, Bernanke has become a banker and is no longer interested in economic finepoints, all he wants to do is make money for the Fed Board.

Wed, 12/12/2012 - 17:40 | 3057404 orangedrinkandchips
orangedrinkandchips's picture

Law of DIMINISHING RETURNS!!!

 

Like cocaine....first buzz is the deepest....baby I know....then it's turtle dick while at the same time you'd fuck the crack of dawn!

 

It's all downhill...the thrill is gone....like mapple products....booooo-ring!

 

Wed, 12/12/2012 - 17:42 | 3057406 Jake88
Jake88's picture

QE5 is going to crash this thing to hell

Wed, 12/12/2012 - 18:07 | 3057484 Cycle
Cycle's picture

Desperation.  A sign the top of the US Treasury market is now, or just past.

Wed, 12/12/2012 - 18:13 | 3057502 MOLONAABE
MOLONAABE's picture

Print $$$ bitchez

Wed, 12/12/2012 - 18:42 | 3057596 GernB
GernB's picture

The market always closes higher on QE day... until it doesnt.

Wed, 12/12/2012 - 18:47 | 3057617 lolmao500
lolmao500's picture

So, when do we expect QE5... in January?

 

Wed, 12/12/2012 - 18:59 | 3057657 DavosSherman
DavosSherman's picture

"Gold outperformed stocks and Treasuries underperformed everything..."

Gee, hoocoodanode.

Wed, 12/12/2012 - 19:36 | 3057737 Dareconomics
Dareconomics's picture

If you put this chart together with others from ZeroHedge showing the diminishing returns of printapalooza, you come to a very scary conclusion:

 

http://dareconomics.wordpress.com/2012/12/12/one-central-bank-head-depar...

Wed, 12/12/2012 - 19:42 | 3057757 CowboyzFan
CowboyzFan's picture

A guy I've been following says the big sell-off starts tomorow and the Dow will be 12,000 within a month.  I don't understand half of what he says, but he's nailed pretty much every top and bottom since last summer (including S&P 500 high today at 1484.)

Wed, 12/12/2012 - 21:34 | 3058032 yogibear
yogibear's picture

Krugman wants Bubble Bernake to do even more. Super-size it! Go for 150 billion a month. How about double or triple that? 

Bubble Bernake can start buying up state debt as well.

 

Wed, 12/12/2012 - 22:01 | 3058106 uncle_vito
uncle_vito's picture

Actually bonds dropped big around Sept 17, 2012 when QE3 was announced.   They alter recovered.   Bonds tanked today when QE4 was announced.  They will also recover.   Not sure I agree with the bond yield chart above.  Perhaps bonds waited a few days after the QE3 announcement on 9/13 before dropping.

Wed, 12/12/2012 - 22:18 | 3058142 orangegeek
orangegeek's picture

SP500 hourly getting close to channel support.

 

http://bullandbearmash.com/chart/sp500-hourly-remains-closing-channel-su...

 

MACD is turning over too.  Look out below!!!

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