"That Escalated Quickly" - Market Sends Friendly Message To Congress, Chairman, To "Get To Work"

Tyler Durden's picture

It seems that the market is slowly but surely getting the joke that the only thing that our politicians care about is the Dow - helped by Harry Reid's comments. As it appears ever more obvious that the cliff dive will take place, so with some liquidity back, traders are reducing exposure to stocks (just as they have been buying protection in VIX for a week now - VIX >20% highest in 5 months). Risk assets everywhere are getting a little jiggy with EUR falling and 10Y yields plunging.

Meanwhile, Gold and Silver are bid.



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Cognitive Dissonance's picture

Looks like a double fisted message in fact. Silver just got a mini woodie.

<Biden, get Blythe Masters on the bat phone NOW.>

Zer0head's picture

circa 1979

The affidavit also revealed that some of the reputed mobsters felt they had control over at least one top Nevada official. Harry Reid, chairman of the Nevada Gaming Commission, has said federal authorities felt he was the "Mr. Clean" referred to in wiretapped conversations, But Reid has denied any connection to organized crime.


Abiotic Oil's picture

Will Ferrell is a douche for participating in Bloomberg's anti gun video.

booboo's picture

Oh dear, what would hollywood do for movies if they didn't have any guns? Oh yea, only bad guys have guns in movies. Or they just make sure the kings enforcers arrest the victim after she/he dispatches the evil antagonist. "Book him Dano"

Super Broccoli's picture

i don't really see a big drop there ...

SheepDog-One's picture

1,418 to 1,404? Well, big enough drop to frighten congress on their insider-info stocks and options I'm sure.

Super Broccoli's picture

well back up 1410 now, told ya, probably just a HFT flash crash ;-)

CPL's picture

Mulligan!  Shot was wide I want to try over...gimme a handicap here and infinite mulligans.  Kick any pro's ass then...

GMadScientist's picture

I'd say a lack of eyes is good enough for ya, and you'd never finish a game.

derek_vineyard's picture

going over the cliff is already priced in.....the market knows at the end of the day or week or year almost everyone in washington has its back and will do whatever it takes to prop it up until the whole system goes over the cliff

stocks basically have the backing equivilant of fdic insurance---so why not ride the boat with those that have the power?  money managers just assume they will know when its time to jump ship; so for now they trade the minutia of earnings/revenue miss or beat, rumor and rotation

youngman's picture

I wonder how many congressmen have shorted this market.....If I was a Dictator...and I could find out who did...they would be tried as traitors.....

GMadScientist's picture

All of em..explains a great deal about why you're not dictator.

Ballin D's picture

Which ones shouldnt be tried as traitors?

GMadScientist's picture

The dead ones; a complete waste of tribunal time.

SheepDog-One's picture

OH ok, well that was fast. You 'lawmakers' better get busy robbing future generations or else your insider-info options will lose! That's your only purpose, so get busy, capiche??

HelluvaEngineer's picture

The delay is most likely due to them trying to figure out how to ram through a total gun ban in the final pages of the 2900 page cliff resolution bill.

CPL's picture

Annex B, sub section 4, notes 4-19...Right under the beef profit rider, child tax credit revestment scheme, California nuclear cleanup crew dismissal...the usual shit.  Why let a piece of legislation go to waste.

"But also, while you are up if you don't mind..."  

It'll be stamped on the tombstone of the modern world.

ShrNfr's picture

Reid opened his mouth and said that we are going over the cliff on jan 1 That triggered the stampede. Of course, he wants the Republicans in the House to volunteer to be a pinata, never mind that he has not produced a budget in four years. Guy makes me want to puke.

derek_vineyard's picture

are 9 spx points a stampede??????

Freddie's picture

Boehner cut everything 10% and tell Reid to pull NDAA now.

CPL's picture

Bonehead and Retard wouldn't be able to put crayon to paper.  They talked too much, had too many meetings and not enough doing.  God they are all such lazy, useless sacks of shit.


Won't shed a tear when 99% of them are flattened like bugs with their own "clever" plans.  

A Nanny Moose's picture

Impending cliff aside, it is amusing watching this 5 star cluster fsck unfold as these unproductive sacks of shit scramble to find ways to buy votes, when there is no money left with which they can be bought.

fonzannoon's picture

gold miners acting happy.

ekm's picture

There are no independent traders any more.

We're talking about Primary Dealer traders, that's it. They act on command from bosses.


And no, the stocks CANNOT AND WILL NOT drop. They can only crater.

Mr_Wonderful's picture

Pretty minor at least so far.

Everybodys All American's picture

Unless the mainstream media actually begins to report facts instead of the nonstop liberal agenda nothing on the fiscal cliff will ever get resolved. Bashing republicans who are trying to show some small sort of responsibility on spending just makes matters of a deal far less likely each passing day.

youngman's picture

Exactly..we are fighting over what color to paint the hole in the Titanic....but nothing about fixing the hole.....

Freddie's picture

TV and Hollywood are total shit.  All of them.  They want to disaarm you.

SheepDog-One's picture

'Get to WORK robbing the 10th downline generation, Clowngress! Or else we'll drop the S&P 5 points and that's SCARY, see?? Watch out, tomorrow we might drop it SIX, and then you're really screwed! Muah ha ha haa!'

Monedas's picture

All this posturing .... as if they were really going to make a difference ?

SheepDog-One's picture

Gotta have all this high drama of S&P losing 5 points and all that....real cliff hanger here, fear and panic problem/reaction/solution....I'll sell my grammas oxygen tank if you just don't drop the S&P any more than 5 points pleeeasse!!

Waterfallsparkles's picture

I think that everyone sold to capture gains and went home for the Holidays.  Now they have to keep the Market low so that they can buy back in lower than they sold.  After a 31 day period.

SheepDog-One's picture

Well, what happens if all the people 'everyone sold to' don't want to sell back lower?  

I want to meet this very large, rich, and very dumb group of 'greater fools' everyone keeps talking about, that seems to be very happy buying high and selling lower.

SheepDog-One's picture

That's OK, just a friendly little nudge as markets are almost back to HOD now....nothing to see here move along and get back on those OARS and ROW, damn peasants!!

Waterfallsparkles's picture

Ah, trying to show the Congress some fear in the Dow.  All the while trying to earn those end of year bonuses.  Quite a feat.

SheepDog-One's picture

EEEK! DOW -.02%....what the fuck this is a DISASTER!! Time for drastic-er measures certainly! OK all americans, we just passed a bill you all now owe us a kidney and all your bone marrow for us to trade on the black organ market....but at least you still got your ObaMaophone and DOW didnt drop more than .02% we SAVED you bitchez!

Waterfallsparkles's picture

Does anyone else think that with all of this Fiscal Cliff talk and the tanking of the Market, that even more People will take their Money OUT of the Market.  Especially, around the Holidays which should be a joyous time.

We know that it hurt Holiday spending this year.  How about next year when people get their December Brokerage Statements.  Those purse strings will tighten up so much that Retailers will be hurt and the potential of any Money comming into the Market next year will be 0.

Shizzmoney's picture

US Consumer is butthurt - all they have to do is look at their paychecks.

That is, if they even get one!

RonBurgundy's picture

Brick, did you throw a trident?

palmereldritch's picture

He should probably find a safehouse or relative close by.  Lay low for awhile.

rubearish10's picture

The script says Obumma will rise up and slay the giant!

PeeramidIdeologies's picture

Like taking candy from a bunch of bailed out babies. We get another one of these in march? Excellent.

Shizzmoney's picture

Please fucking crash.

ekm's picture

It can't. There's nobody to buy. Primary Dealers have basically bought up everything.


It can only and only crater.