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At Least One Market Is Open

Tyler Durden's picture





 

Aside from the occasional deranged FX algo which today has decided to take out all its pent up binary anger on the GBPUSD, everything else today is closed. Everything, except, of course, for InTrade which come holiday, rain or apocalypse, is a true OTC market and is open all the time 24/7, non stop. Of particular interest is InTrade's market on "The US debt limit to be raised before midnight ET 31 Dec 2012" which moments ago once again came closer to reflecting reality and not the clueless gibberish of "expert" political pundits, and plunged to a contract low 10.1% probability (and price) which considering the late stage in the game, and that at this point the Fiscal Cliff is beyond any 2012 resolution, let alone the debt ceiling, is 10.1% too high (as forecast here nearly two months ago). And like a true market, one can naked short on InTrade. So for all the habitual gamblers out there just itching for some global futures market to reopen somewhere: have at it (but mind the brief squeeze at the next appearance of the "we have a deal" rumor, only to be refuted by the sad political reality of this country moments later). 

 


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Tue, 12/25/2012 - 13:18 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I'm putting everything on red 22.

<Don't worry, the Fed's got my back.>

Tue, 12/25/2012 - 13:46 | Link to Comment Cdad
Cdad's picture

I'm going with black 11,  This investing stuff is fun and easy.  Anyway, I heard that falling over the fiscal cliff is "priced in."

Merry Christmas, brother Cog.

Tue, 12/25/2012 - 14:01 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Everything is priced in......right up until it isn't.

Happy Holidays to you as well brother Cdad.

Tue, 12/25/2012 - 17:12 | Link to Comment Sudden Debt
Sudden Debt's picture

well, everybody put everything on black 4 years ago and with the last president election.
In roulette, black is a good colour, but that doesn't mean you can beat the system with a system. In the end, the house always wins and you lose.
Have a free drink and some free chrimp on the buffet...

Tue, 12/25/2012 - 17:50 | Link to Comment THX 1178
THX 1178's picture

mmmmm.... chrimp

Tue, 12/25/2012 - 14:56 | Link to Comment Eireann go Brach
Eireann go Brach's picture

Odds the Obama family wasted $25 million in tax payer dollars just today alone in Hawaii.. 99.7%!

Tue, 12/25/2012 - 17:47 | Link to Comment ball-and-chain
ball-and-chain's picture

I want to bet on Ben Bernanke's man-tits.

They will continue to squirt milk in the form of qe for many years to come.

Count on it.

http://www.angrysinner.blogspot.kr/2012/12/yesterday-i-hiked-five-miles-to-my.html

Wed, 12/26/2012 - 09:21 | Link to Comment Eugend66
Eugend66's picture

Nah, try 13!! http://www.youtube.com/watch?v=OlTBFmYf7yU , Johnny Cash - Thirteen, less than 3 mins. 2013 and all the rest.

"... And the black turned into red ...."

Merry Xmas.

Peace.

Tue, 12/25/2012 - 13:26 | Link to Comment tickhound
tickhound's picture

Whatever happened to "CHRISTMAS OPEN THREAD"  or at least HOLIDAY THREAD should we hafta tip toe for the overly sensitive.

Kyle Bass again Tylers??? 

Happy Holidays, bitchez!

Tue, 12/25/2012 - 16:02 | Link to Comment Midas
Midas's picture

I hope nobody missed one of the best articles of the year:

David Collum's

http://www.zerohedge.com/news/2012-12-22/2012-year-review-free-markets-rule-law-and-other-urban-legends

 

Tylers-  Have you considered running some of the gems multiple times to make sure they don't get lost in the mountains of info here?

Tue, 12/25/2012 - 13:21 | Link to Comment Muppet of the U...
Muppet of the Universe's picture

In intrade, can one simply bet both sides of the rail when chances are low and high?

Tue, 12/25/2012 - 13:23 | Link to Comment unk1911
unk1911's picture

well also the bitcoin markets/exchanges are all open as well...

Tue, 12/25/2012 - 21:43 | Link to Comment YungHungAndLegal
YungHungAndLegal's picture

Don't forget the CFTC, in an attempt to protect me from my self, just shut down Intrade to all US citizens.  Happy hanukka Gensler from everyone at ZH. <sarc>

Tue, 12/25/2012 - 13:28 | Link to Comment Yen Cross
Yen Cross's picture

 That pussy Obama isn't going to do anything. He's just sitting on the porch in Oahu twiddling his thumbs. He gets his tax hike in a week and, everyone gets gets screwed in the (payroll tax) pooch in January.

Tue, 12/25/2012 - 13:33 | Link to Comment The Master
The Master's picture

That's not fair. He's not "just sitting on the porch in Oahu twiddling his thumbs."

He's golfing.

Tue, 12/25/2012 - 13:37 | Link to Comment Yen Cross
Yen Cross's picture

 Semantics/ He's golfing at the 19th hole, which is probably his back porch.

Tue, 12/25/2012 - 16:03 | Link to Comment Midas
Midas's picture

He might be taking care of some grass.

Tue, 12/25/2012 - 20:24 | Link to Comment Yen Cross
Yen Cross's picture

 He's the "greens keeper" Choom-Bama(gold)... Midas that made laugh hard, you kick ass!

Tue, 12/25/2012 - 13:36 | Link to Comment TheSilverJournal
TheSilverJournal's picture

The central planners schemed they weren't going to come to a fiscal cliff agreement at least before 12/12/12 when Bernanke said that he would juice QE a bit if we went off the fiscal. QE5, right around the corner.

Tue, 12/25/2012 - 13:48 | Link to Comment tooriskytoinvest
tooriskytoinvest's picture

Nassim Taleb & El-Erian & Boston Consulting Group: Stabilization Won't Save Us From Economic Turmoil, The Long End Is Going To Be More Volatile And More Dangerous. As Soon As Asset Price Rises – Fuelled By High Levels Of Leverage – Levelled Off, The Model Imploded.

http://investmentwatchblog.com/nassim-taleb-el-erian-boston-consulting-g...

 

Tue, 12/25/2012 - 14:02 | Link to Comment amanfromMars
amanfromMars's picture

As a sure-fire future markets leader, do C42 Quantum Communication Control Systems possess intrinsic priceless value ..... colossal net worth?  Worthy of a speculative punt from AdvenTuring Capitalists? :-)

And ignore Poe's Law if it is a red herring.:-)

 

Tue, 12/25/2012 - 14:04 | Link to Comment negative rates
negative rates's picture

There is a sucker born every minute, and most of them reside HERE!

Tue, 12/25/2012 - 17:44 | Link to Comment StychoKiller
StychoKiller's picture

I can think of $16+Trillion reasons why you're wrong...

Tue, 12/25/2012 - 21:13 | Link to Comment Yen Cross
Yen Cross's picture

 Jack-O-Lanterns

Tue, 12/25/2012 - 14:48 | Link to Comment Cult of Criminality
Cult of Criminality's picture

"(but mind the brief squeeze at the next appearance of the "we have a deal" rumor, only to be refuted by the sad political reality of this country moments later)".

Right

Tue, 12/25/2012 - 14:59 | Link to Comment savagegoose
savagegoose's picture

i dont get i took a naked short, ie sell, and it said it wanted $2000+ and  all would get if i won was $60. sure its not likely to happen, but do i only have to pay if  i lose?

Tue, 12/25/2012 - 15:24 | Link to Comment Herdee
Herdee's picture

You can "Naked Short"? That's creating electronic counterfeit stock or endless temporary liquidity.Oh,I get it,we'll just forget to borrow them legit and we'll settle later (or when we get around to it)when you end up driving it into bankruptcy.If you can cellar box-em and drive them bankrupt,you never have to settle.Right?Is that why tens of thousands of small business innovators have left and gone to China?Ya,I know,it's all B.S. that the Regulators and the Clearing Houses are linked to organized crime.

Tue, 12/25/2012 - 15:56 | Link to Comment TheMactus
TheMactus's picture

Sorry to spoil this one fellas,


We are sorry to announce that due to legal and regulatory pressures, Intrade can no longer allow US residents to participate in our real-money prediction markets.

 

Effective immediately, US residents can no longer open an Intrade account. Existing US customers are asked to close out all open predictions and request a withdrawal for the final balance of their Intrade accounts before December 23, 2012. Further information on this process can be found HERE. We strongly urge all US customers to read this information immediately and begin the process of closing their accounts.

 

We understand this announcement may come as a surprise and a disappointment to our US customers, but this in no way signals the end of Intrade in the US. In the near future we'll announce plans for a new exchange model that will allow legal participation from all jurisdictions – including the US.  We believe this new model will further enhance Intradeposition as the leading prediction market platform for real time probabilities about future events.

 

For our non-US customers, we will continue to offer real-money prediction markets. In the coming weeks and months we plan to implement a number of improvements to the Intrade website. These include expanding our market categories to include sports, adding more convenient funding options and a new and improved trading interface. We'll keep you posted on these initiatives as they develop.

 

Kind regards,

 

Carl Wolfenden

Exchange Operations Manager

Intrade – The Prediction Market

Tue, 12/25/2012 - 16:32 | Link to Comment Motorhead
Motorhead's picture

Debt limit and gold.  Correlation or cause?

Tue, 12/25/2012 - 16:40 | Link to Comment Venerability
Venerability's picture

Well, now we know what happened to JPM's London Whale:

He bets even bigger on InTrade. Probably Mr. Adoboli, too.

Tue, 12/25/2012 - 18:48 | Link to Comment TraderTimm
TraderTimm's picture

Until inTrade gets with the program and accepts bitcoin, you can make bets here:

http://betsofbitco.in/list

A growing number of poker sites and other betting venues have. Nice to have a currency that isn't stomped on by central governments.

Wed, 12/26/2012 - 09:09 | Link to Comment Eugend66
Eugend66's picture

I rarely come with an red arrow on any site. I gave you one. Fuck poker sites and nail parlors. And loan shark businesses. And Bitcoin!

Wed, 12/26/2012 - 15:42 | Link to Comment TraderTimm
TraderTimm's picture

I'm sure you're a paragon of rational thought. My, look at how well you constructed your counter-argument.

Did you get lost on the way to the liquor store?

Tue, 12/25/2012 - 20:21 | Link to Comment Yen Cross
Yen Cross's picture

 I love Intrade/  Too bad so sad. The CFTC (blonde ponytail) just quashed intrade to U.S. customers. We knew this a month ago/http://livewire.talkingpointsmemo.com/entry/betting-site-intrade-shuttin...

 

Old news. 

Tue, 12/25/2012 - 20:51 | Link to Comment q99x2
q99x2's picture

Didn't they start doing like a fiscal cliff kinda thing about 3.5 years ago when the banksters began to take Greece down? And then back before that with Argentina.

But and Since the banksters and NWO own most of the corporate shares why would the stock market go down. It should go up once all non banksters are out. They don't have to play by the rules of fundamentals. They have to merely agree among themselves that prices should be fixed at whatever they choose.

I don't think the market will go down unless the financial system freezes again.

Four more years.

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