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"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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Thu, 12/27/2012 - 11:38 | 3098892 Cognitive Dissonance
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.>

Thu, 12/27/2012 - 12:09 | 3099003 GMadScientist
GMadScientist's picture

http://www.youtube.com/watch?v=2rUn6pUDpEk

"Didn't have to use my AK..."

Thu, 12/27/2012 - 12:17 | 3099032 Zer0head
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.

http://news.google.com/newspapers?id=wEIrAAAAIBAJ&sjid=h54FAAAAIBAJ&pg=5...

Thu, 12/27/2012 - 13:01 | 3099146 Abiotic Oil
Abiotic Oil's picture

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

Thu, 12/27/2012 - 13:36 | 3099261 booboo
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"

Thu, 12/27/2012 - 11:33 | 3098898 Super Broccoli
Super Broccoli's picture

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

Thu, 12/27/2012 - 11:36 | 3098908 SheepDog-One
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.

Thu, 12/27/2012 - 11:42 | 3098933 Super Broccoli
Super Broccoli's picture

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

Thu, 12/27/2012 - 11:49 | 3098951 CPL
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...

Thu, 12/27/2012 - 12:13 | 3099017 GMadScientist
GMadScientist's picture

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

Thu, 12/27/2012 - 12:33 | 3099069 CPL
CPL's picture

HA!

Thu, 12/27/2012 - 13:50 | 3099313 A Nanny Moose
A Nanny Moose's picture

He plays by sense of smell.

Thu, 12/27/2012 - 14:29 | 3099439 GMadScientist
GMadScientist's picture

Okay, but you have to do the "scratch'n'" part.

Thu, 12/27/2012 - 11:54 | 3098957 derek_vineyard
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

Thu, 12/27/2012 - 11:45 | 3098943 youngman
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.....

Thu, 12/27/2012 - 11:49 | 3098954 Cognitive Dissonance
Cognitive Dissonance's picture

Obama........is that you? :>)

Thu, 12/27/2012 - 12:14 | 3099021 GMadScientist
GMadScientist's picture

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

Thu, 12/27/2012 - 12:49 | 3099125 Ballin D
Ballin D's picture

Which ones shouldnt be tried as traitors?

Thu, 12/27/2012 - 14:35 | 3099454 GMadScientist
GMadScientist's picture

The dead ones; a complete waste of tribunal time.

Thu, 12/27/2012 - 11:37 | 3098902 SheepDog-One
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??

Thu, 12/27/2012 - 11:39 | 3098921 HelluvaEngineer
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.

Thu, 12/27/2012 - 11:44 | 3098940 SheepDog-One
SheepDog-One's picture

Yea probably.

Thu, 12/27/2012 - 13:23 | 3099227 CPL
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.

Thu, 12/27/2012 - 11:36 | 3098907 ShrNfr
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.

Thu, 12/27/2012 - 12:14 | 3099019 derek_vineyard
derek_vineyard's picture

are 9 spx points a stampede??????

Thu, 12/27/2012 - 12:26 | 3099054 Freddie
Freddie's picture

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

Thu, 12/27/2012 - 13:29 | 3099246 CPL
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.  

Thu, 12/27/2012 - 13:56 | 3099332 A Nanny Moose
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.

Thu, 12/27/2012 - 11:36 | 3098911 fonzannoon
fonzannoon's picture

gold miners acting happy.

Thu, 12/27/2012 - 11:45 | 3098929 ekm
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.

Thu, 12/27/2012 - 11:41 | 3098930 Mr_Wonderful
Mr_Wonderful's picture

Pretty minor at least so far.

Thu, 12/27/2012 - 11:42 | 3098936 Everybodys All ...
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.

Thu, 12/27/2012 - 11:48 | 3098949 youngman
youngman's picture

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

Thu, 12/27/2012 - 12:38 | 3099093 Freddie
Freddie's picture

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

Thu, 12/27/2012 - 11:47 | 3098947 SheepDog-One
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!'

Thu, 12/27/2012 - 11:48 | 3098948 Monedas
Monedas's picture

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

Thu, 12/27/2012 - 11:50 | 3098956 SheepDog-One
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!!

Thu, 12/27/2012 - 11:50 | 3098955 Waterfallsparkles
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.

Thu, 12/27/2012 - 11:55 | 3098966 SheepDog-One
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.

Thu, 12/27/2012 - 11:52 | 3098960 SheepDog-One
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!!

Thu, 12/27/2012 - 11:55 | 3098964 Waterfallsparkles
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.

Thu, 12/27/2012 - 11:57 | 3098974 SheepDog-One
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!

Thu, 12/27/2012 - 12:02 | 3098989 Waterfallsparkles
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.

Thu, 12/27/2012 - 12:24 | 3099046 Shizzmoney
Shizzmoney's picture

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

That is, if they even get one!

Thu, 12/27/2012 - 12:03 | 3098991 RonBurgundy
RonBurgundy's picture

Brick, did you throw a trident?

Thu, 12/27/2012 - 12:12 | 3099013 palmereldritch
palmereldritch's picture

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

Thu, 12/27/2012 - 12:04 | 3098995 rubearish10
rubearish10's picture

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

Thu, 12/27/2012 - 12:15 | 3099025 PeeramidIdeologies
PeeramidIdeologies's picture

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

Thu, 12/27/2012 - 12:23 | 3099045 Shizzmoney
Shizzmoney's picture

Please fucking crash.

Thu, 12/27/2012 - 12:34 | 3099075 ekm
ekm's picture

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

 

It can only and only crater.

Thu, 12/27/2012 - 12:36 | 3099084 Canucklehead
Canucklehead's picture

http://www.minot.k12.nd.us/pages/Minot_Public_Schools

Someone phoned in a threat to the Minot Air Force Base School, causing a lockdown all through Minot.  I guess they started the Christmas holidays early...

 

        ***News Release***

 

From the Office of the Superintendent:

 

Minot Public Schools will not be in session tomorrow, Friday, December 21st.

 

All MPS activities (including athletic practices) that were scheduled for tomorrow (December 21st)

have been canceled.

 

During this time of heightened concern for school safety, we have been dealing with

unsubstantiated rumors. Today we had a very serious threat called into the Minot Public

Schools Head Start Program located on Minot Air Force Base. As a result, several of our schools

were in lockdown for a period of time today. Military Law Enforcement officials continue to investigate

this incident and feel there is not an on-going threat at this time.

 

As previously stated, the safety of our students and staff is our first concern. We feel that it is in the

best interest for the safety and well-being of all concerned that we cancel school tomorrow.

The scheduled make-up day will be March 28th.

Thu, 12/27/2012 - 12:39 | 3099099 SilverMoneyBags
SilverMoneyBags's picture

Probably some kid that didn't want to take a test or didnt do their homework.

Thu, 12/27/2012 - 12:37 | 3099087 Salon
Salon's picture

Maybe i can pick up a few pennies in front of this bulldozer.

Fish gotta swim. Birds gotta fly. The Great Salon the Illiterate gotta short

Thu, 12/27/2012 - 13:52 | 3099323 PeeramidIdeologies
PeeramidIdeologies's picture

Beware I believe there is a deal waiting in the wings...

Thu, 12/27/2012 - 12:46 | 3099116 Gmacks
Gmacks's picture

You kept your head on a swivel and that's what you gotta do when you find yourself in the middle of a cockfight!

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