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Reid-Off; Boehner-On; McConnell-Off; Reality-Gone

Tyler Durden's picture





 

UPDATE: ES -7 after-hours from closing highs (McConnell-Off)

Equity markets started the day off slowly but with confidence disappointing and Harry Reid's name-calling, not even the arrival of the chosen one was enough to juice anything but a minimal bounce in stocks. It looked like S&P 500 futures (ES) were going to retest the flash-crash lows from last week but thanks to a well-timed piece of news that Boehner will be in session on Sunday night (though no accompanying notes on exactly what magical book of crap they will sign off - or not - on) was enough to spur Johhny-5 and his friends into algo-asm action. The initial jerk was perfectly to VWAP and the second jerk took AAPL up to yesterday's closing VWAP. This strength dragged ES higher - reconnecting with a less excited risk-asset market that had remained flat from the day-session open. FX and vol were the main levers to the upside with Treasuries less enamored - though HYG was lifted to fill Monday's gap. Mitch McConnell spoiled the party a little into the unchanged close.

As the markets ramped there were notable blocks and the large delta appeared to be sellers - which accompanied with VIX compression (big roundtrip today) suggests this strength enabled a few more big players to exit their underlying positions and unwind hedges. Gold rose as late-day USD weakness (and Treasury selling) jerked commodities higher. ES auctioned up to pre-Reid levels but was unable to hold those algo gains.

 

The S&P magically managed to get green for the month by the close...

 

The day in the S&P 500 futures market... with Scott Brown's on-again off-again facebook post impact... ending the UNCH!

 

Asset classes in general were all over the place with the US Open to EU Close session seeing a big EUR dump (on Reid's comments) after some more reptraiation strength early on. Gold rallied on that and stayed high all day. Evidently Treasuries (red) were not as excited with the ramp as the US and Oil)...

 

Equities did actually drop considerably more than risk-assets (upper right) in general today and the last day ramp dragged us back up to a more synchronized view of the world - even if correlations were weak overall. ETFs were relatively better-behaved (upper left) and stayed in close sync up and down - with VXX the major driver - though HYG was abused higher into the close (filling Monday's gap)... Cross-asset class correlation picked up notably into the close (lower right)

 

 

VIX round-tripped from low 19s to almost 21% and back down - and while much was made of VIX's compression it remains excessively bid relative to stocks - suggesting hedgers remain. Clearly, managers bid protection over the past week or so - knowing they could not sell down their exposures too aggressively; now we see headline-driven ramps that enable puts to be unwound profitably (higher vol and lower underlying price) and also to sell down exposure into the market's levered excitement (of retail) which then fades after-hours - just as it did after the last time - would not be surprised to see another ES cliff dive tonight.


 

Apple was heading for a 4 handle slowly but surely but the Boehner Boner enabled an absolute algo-gasm as we tested up to yesterday's closing VWAP...and stalled there

 

The problem, of course, as we tweeted an hour before the close, is that:

 

 

 

Charts: Bloomberg and Capital Context

 

(h/t Kosherham for Johhny 5 image)

 


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Thu, 12/27/2012 - 17:15 | Link to Comment RacerX
RacerX's picture

glad Boehner is still able to get it up.

Thu, 12/27/2012 - 17:17 | Link to Comment economics9698
economics9698's picture

Fuck it, life is good if you have a government pension.

 http://www.facebook.com/pauladockery

Paula Bono Dockery about an hour ago via mobilehttp://static.ak.fbcdn.net/rsrc.php/v2/ys/x/t0WxoMd7EqC.png); background-size: auto; display: inline-block; height: 12px; width: 12px; bottom: -1px; margin-bottom: -5px; position: relative; vertical-align: top; background-position: -628px -39px; background-repeat: no-repeat no-repeat;"> Heading to Maryland!

Thu, 12/27/2012 - 17:29 | Link to Comment nmewn
nmewn's picture

Clawback Amendment.

Thu, 12/27/2012 - 20:13 | Link to Comment Snakeeyes
Snakeeyes's picture

Pure Kabuki theatre!

Dems want taxes to go and are using under $250k as the class warfare card.

Reps want military spending to be cut as little as possible.

Automatic spending cuts if the fiscal cliff is not solved amounts to 10% of the current Federal deficit. THAT'S IT!

Let's just go over the fiscal cliff. The media will blame Repubs and Obama/Reid will call for blood!

http://confoundedinterest.wordpress.com/2012/12/24/santelli-if-the-fisca...

Thu, 12/27/2012 - 20:52 | Link to Comment long-shorty
long-shorty's picture

IN WHAT UNIVERSE IS THE ES DOWN 7 POINTS FROM THE CLOSE, FROM IT'S HIGH, OR FROM "CLOSING HIGHS" AFTER HOURS?

Do you have a 240-minute delay on your Quotron, Tyler?

Thu, 12/27/2012 - 17:30 | Link to Comment Michaelwiseguy
Michaelwiseguy's picture

Where are the google maps of Non-Gun owner homes, so criminals can target successful home burglary jackpots without fear if being killed by a home owner?

Thu, 12/27/2012 - 17:37 | Link to Comment Renewable Life
Renewable Life's picture

Be careful who you are calling a criminal.........

Soon, you'll be the criminal, if you don't get your weapons "registered" and your fingerprints taken, and turn in your mags over 10 rounds, etc

 

Thu, 12/27/2012 - 17:39 | Link to Comment knukles
knukles's picture

And an RFID chip implanted.

Thu, 12/27/2012 - 18:05 | Link to Comment XitSam
XitSam's picture

I was just thinking, the Lil' Abner character Joe Btfsplk, who always had a dark cloud over his head, would be updated in the modern era with a drone over his head. 

Thu, 12/27/2012 - 18:49 | Link to Comment ShrNfr
ShrNfr's picture

When it comes to short guns, that is the requirement in MA now. Magazines over 10 rounds for a short gun require a special permit.

 

Thu, 12/27/2012 - 19:20 | Link to Comment Chupacabra-322
Chupacabra-322's picture

@ Renewable Life,

"When plunder becomes a way of life for a group of men,living together in society,they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it."

-Frederic Bastiat, (1801-1850)

The Criminal Officials in Government are passing legislation and creating a survailence infrustructure which protects them from being hunted down and prosecuted from the Crimes Against The American People and Crimes Against Humanity which they have committed.

Thu, 12/27/2012 - 17:33 | Link to Comment knukles
knukles's picture

Imagine if the Tin Man got a Heart, the Lion got Courage and the  Scarecrow, a Brain.....
And Dorthy, 3 Vicodins and a bottle of cheap wine. 

Thu, 12/27/2012 - 17:44 | Link to Comment LFMayor
LFMayor's picture

you know that Judy.... Yellows in the morning, Reds at night!

Thu, 12/27/2012 - 17:44 | Link to Comment max2205
max2205's picture

One day they will say, shit we should have made Corps pay what they should have. Gawd!

Thu, 12/27/2012 - 17:47 | Link to Comment JPM Hater001
JPM Hater001's picture

When you say Dorthy are you talking about my wife?  I can finish this if you like...

Thu, 12/27/2012 - 17:49 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Give a Bearing a nice glop of grease (pit in just right), and he is happy for thousands of revolutions!

Thu, 12/27/2012 - 17:51 | Link to Comment sunaJ
sunaJ's picture

I like how algos give a shit what these people (Boehner, Reid, et al) say.  I do not pretend to know the future, but my personal macro analysis of our situation puts us in a vortex outside the control of Boehner, Geithner, Obama or Reid.  Sure, they occupy positions to do something about it, but it is clear they are either corrupt, scared shitless, powerless or oblivious (probably a mixture).  They are in the positions we have put them in to be able to do incredible things to confront the problem, but instead you have contests of Universe's Best Democrat, Republican of the Year and Most Profitable Shuckster to Special Interest.  Meanwhile the gravitational vortex of power - whether financial or political (it is the same center of power) continues to plunder anything they wish and will continue until it is all gone - one hand owes a ton of money, the other hand owns a printing press.  They are the rule makers and seem just fine with industry writing the rules, thank you very much. 

I don't like to get biblical, but JFC.

Thu, 12/27/2012 - 18:17 | Link to Comment MachoMan
MachoMan's picture

Algos don't give a shit about anything but executing commands (HAL).  The idiots that coded them give a shit or, alternatively, expect other people (algos) to give a shit about what the talking heads say...  self fulfilling prophecy.

Thu, 12/27/2012 - 18:33 | Link to Comment stocktivity
stocktivity's picture

My personal analysis ...It's all Bullshit!!!!

Thu, 12/27/2012 - 17:52 | Link to Comment eatthebanksters
eatthebanksters's picture

Who is applying the most pressure to Barry and Harry right now? The unions or Jamie, Lloyd and the Wall Street chums...you'll know based on the type of last minute deal that gets done.

Thu, 12/27/2012 - 19:16 | Link to Comment ball-and-chain
ball-and-chain's picture

It'd be kind of cool if we went off the cliff.

What would that look like?

Would Obama give me more food stamps?

Yes?

Yippeeeeeeeeeee.

http://www.angrysinner.blogspot.kr/2012/12/yesterday-dragon-lady-served-spare-ribs.html

Thu, 12/27/2012 - 17:18 | Link to Comment Glass Seagull
Glass Seagull's picture

 

 

Single, white equity index seeks volume-weighted average price.  Pet friendly.

Thu, 12/27/2012 - 17:23 | Link to Comment GMadScientist
GMadScientist's picture

Does "pet friendly" cover putting snakes in your ass? Get back to me; I gotta shoot while the light is still good.

 

Thu, 12/27/2012 - 17:34 | Link to Comment Renewable Life
Renewable Life's picture

Who do these monkeys think they are fooling at this point????

This shit is more scripted then SNL, and worse then a B-Movie film festival!

Timmy G comes out and says Debt Ceiling is Dec 31, cue Obammy in Hawaii for a late night fly over, Boner says no deal, Reid says no deal. MCconnell says "maybe a deal", Boner schedules the late night Sunday session, and Reid says maybe, Obammy at 11:45 Saturday night will unveil "his plan" to save the world..............

Its in your court GOP stooges!

Thu, 12/27/2012 - 17:19 | Link to Comment Cdad
Cdad's picture

It takes exactly 16 minutes post close for every BlowHorn [CNBC] talking head to change tune from "fixed" to "oh shit."  

What a joke the U.S. equity market is.  Would someone please just turn off the BlowHorn satellite, please?  Thank you.

Thu, 12/27/2012 - 17:54 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

HFT moves the market the direction the headline reading algorithms say to move it.  It doesn't matter what CNBC says.  If you were writing those algos, would YOU let it read anything on the CNBC website/wire?

Just sell out, get out of the market and buy farmland.  There's nothing else.

Thu, 12/27/2012 - 18:19 | Link to Comment MachoMan
MachoMan's picture

There's not much else for people with very spectacular means...  for most plebs, farm land is already cost prohibitive...  as is gold.  The noose is tightening.

Thu, 12/27/2012 - 17:20 | Link to Comment Yen Cross
Yen Cross's picture

 Reid And McConnell are a couple bi-polar kindergarteners, and Boehner is Dr. Strangelove.

Thu, 12/27/2012 - 17:24 | Link to Comment Everybodys All ...
Everybodys All American's picture

I'd punch ____ in the mouth if I ever saw that bastard.

Thu, 12/27/2012 - 17:21 | Link to Comment GMadScientist
GMadScientist's picture

State-sanctioned (if not mandated) bear trap: SHUT!

Thu, 12/27/2012 - 17:22 | Link to Comment nmewn
nmewn's picture

Sooo, ummm, how much is the federal government on the hook for flying O'Barry back & forth to Hawaii...again?

Thu, 12/27/2012 - 17:25 | Link to Comment GMadScientist
GMadScientist's picture

Skype from a bunker would be much cheaper and wouldn't freak out the natives at all.

 

Thu, 12/27/2012 - 17:33 | Link to Comment nmewn
nmewn's picture

Less of a carbon footprint too (for all the Mayan/Gaia/Prius drivers out there)...lol.

The figure I saw was a twenty six million dollar vacation, by the way ;-)

Thu, 12/27/2012 - 17:36 | Link to Comment knukles
knukles's picture

But you get to walk, peasant.
For you are responsible for saving the planet.

All by your lonesome.

 

And here's an old hockey stick you can use as a crutch.

Thu, 12/27/2012 - 17:39 | Link to Comment nmewn
nmewn's picture

Fuck it...I'm gonna hijack sumpin ;-)

Thu, 12/27/2012 - 17:39 | Link to Comment GMadScientist
GMadScientist's picture

I've never flown Gangnam-class, but I hear it's nice.

 

Thu, 12/27/2012 - 17:43 | Link to Comment knukles
knukles's picture

Priceless Visual of Obey, VallieieeJ-Rat, rappin' on out.....

No wonder Mooch stayed behind

(Stayed behind.  Get it, behind?  Hah ha ha ha ha ah)

edit: (was a big decision on her part)

Thu, 12/27/2012 - 18:42 | Link to Comment stocktivity
stocktivity's picture

"Sooo, ummm, how much is the federal government on the hook for flying O'Barry back & forth to Hawaii...again?"

Don't forget Michelle and the kids....and the secret service...and Michelle's hairdresser...kid's tutors...ect ect.    No problem...we American's are such a giving society.

Thu, 12/27/2012 - 18:52 | Link to Comment ShrNfr
ShrNfr's picture

Hey, the gotta still use a cargo plane to get Mochelle and her shopping back into town. That costs real money.

Thu, 12/27/2012 - 17:27 | Link to Comment Cursive
Cursive's picture

Incredible.  There are other words, but that's what I've got for now.  Who would want their wealth tied to this not-so-funny farce?

Thu, 12/27/2012 - 17:35 | Link to Comment ceilidh_trail
ceilidh_trail's picture

Your comment is exactly what has made the last few years such a pain in the ass. How can anybody make a competent decision when we have these clowns running around?

Thu, 12/27/2012 - 17:33 | Link to Comment falak pema
falak pema's picture

No, no the bounce is back; this is roller coaster time! Remember! 

Thu, 12/27/2012 - 17:34 | Link to Comment edb5s
edb5s's picture

This market has no shame. 

Thu, 12/27/2012 - 17:36 | Link to Comment Freddie
Freddie's picture

What did Mitch McConnel say at the close?   We are in circus land.   I guess when the USSR imploded it was kind of like this.

Thu, 12/27/2012 - 17:40 | Link to Comment Shizzmoney
Shizzmoney's picture

Well, it kind of was.....except like in the USSR, the government's checks to the military haven't bounced.

Yet.

Thu, 12/27/2012 - 17:41 | Link to Comment Everybodys All ...
Everybodys All American's picture

McConnell said any spending bill must originate in the House and not the Senate by constitutional law. Reid complained like a little bitch that the House hasn't sent him a bill he can pass. Same old same.

Thu, 12/27/2012 - 17:51 | Link to Comment nmewn
nmewn's picture

And he was exactly right...all spending bills start in the House.

Reid's been opening his breast pocket and flashng (like a pervert) some sense of the senate document...a glorified resolution...it's value in law and in the discussion at hand listed as absolute zero.

Reid obviously wants to go over the "cliff" or he's an idiot...take your pick.

Thu, 12/27/2012 - 18:05 | Link to Comment Freddie
Freddie's picture

Thanks for the info "Everybodys" and "nmewn."  Reid is the biggest POS that ever walked the earth.   he was involved in a accident in Nevada a few weeks ago on the Interstate in his black SUV followed by security SUV.   It is sickening how this vermin has endless atff, security, perks we can only dream off.

The Roman senate destroyed Rome and these vermin are doing the same thing.

Thu, 12/27/2012 - 20:38 | Link to Comment nmewn
nmewn's picture

"The Roman senate destroyed Rome and these vermin are doing the same thing."

I have noted this before and it bears repeating...I believe.

What we have here now is, an ex-senator as president (Obama), an ex-senator as vice-president (Biden), an ex-senator as secretary of state (Clinton, with another waiting in the wings to replace her, Kerry).

Basically, the three top positions of the executive branch having shared allegiance with a legislative branch...the senate.

Thu, 12/27/2012 - 22:16 | Link to Comment Freddie
Freddie's picture

+1

I can tell you another thing - most Senate seats were rigged in 2012 plus TOTUS to make sure the Dems held the Senate.  Late night voting, overvoting, early voting, rigged machines, etc etc in FL, OH, WI, MI, PA and others.  I doubt WA, CA, and OR have had an honest election in the past 20 years.   WA governor's race stolen multiple times from Dino Rossi and others in Seattle.   These people are ******g criminals.

The Roman Senate sent the military out of Rome because they did not want them there.  Ditto the USA.   The Senate is one of the biggest sources of evil in this country by far.   

Thu, 12/27/2012 - 18:30 | Link to Comment XitSam
XitSam's picture

I wondered about why spending bills started in the House.  Reading American history now (that I sure didn't get in "Social Studies"), the British colonies in America were in the 1700s usually organized as a Royal Governor, Council and Assembly.  The Governor was appointed by the crown. Pretty much the Council (think Senate) were wealthy landowners and businessmen and selected or nominated to the crown by the Governor.  The Assembly (think House) was elected by a vote of the men that met the standards for that colony (a certain amount of property or wealth).  Only the Assemblies could initiate taxes and appropriate monies, including the Governor's salary. Thus the Governor was held in check indirectly by the people through their elected representatives. And they often did.

Thu, 12/27/2012 - 20:50 | Link to Comment nmewn
nmewn's picture

"Thus the Governor was held in check indirectly by the people through their elected representatives."

Exactly right.

If the need is great, the funding will rise to meet it voluntarily, if not, the need to raise taxes goes the way of wants vs needs.

The need to raise taxes is not there, the Peoples House has already spoken. It has now (at the elite levels of theivery) devolved back to a Sheriff of Nottingham type of existence...with all that entails ;-)

Thu, 12/27/2012 - 18:53 | Link to Comment ShrNfr
ShrNfr's picture

I would go for "He is an idiot and he wants to go over the cliff". They are not exclusive.

Thu, 12/27/2012 - 21:00 | Link to Comment nmewn
nmewn's picture

He believes his lackeys in the government controlled media will cover for his not bringing ANY House bill to the floor of the Senate for a vote over these last few years.

So far, they are in fact, covering for him.

The Fourth Estate is complicit in this crime and they are being held accountable by their collapse in market share for "news & journalism" but by no means has the fine been paid in full.

Witness the rise of ZH ;-)

 

Thu, 12/27/2012 - 22:24 | Link to Comment Freddie
Freddie's picture

+1  I enjoy all your posts.

I continue to say ad nausem that all TV and all Hollywood are total garbage and they want to help disarm us.  I am constantly telling conservatives that Fox is no better.  Murdoch was one of the first to come out for gun banning - along with Bloomberg and China.  

Murdoch became a full lackey for NWO when he got busted (with Piers Morgan) hacking cell phones in the UK probably using ex-Brit intel stooges (Mi5,Mi6).  I am sure the NWO were going to send him and his son James to prison if they did not toe the line.

Also all the Tv media, including Bloomberg, are total stooges for China and Islam to stay on their satellites.

Thu, 12/27/2012 - 17:42 | Link to Comment walküre
walküre's picture

Lala Land with tons of funny money and access to mind altering prescription meds.

Pretty much the end cycle of every empire before it.

Thu, 12/27/2012 - 17:46 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

McConnell?  I don't know what he said.  But here's what a Bearing would say:

"Buy PMs!  Gold, platinum, and silver all good."

Products made out of 52100 steel are good too...

Thu, 12/27/2012 - 17:38 | Link to Comment Shizzmoney
Shizzmoney's picture

Congressman at his office: "Holy shit, my portfolio is down 3% today.  Quick, someone call up a Senator and tell him to start a rumor!"

This is all playing out like a comedic snuff film.

Thu, 12/27/2012 - 17:41 | Link to Comment NumberNone
NumberNone's picture

I'm so fucking sick of this.  Anyone thinking that our beloved leaders are not getting absolutely raging Reid-Pelosi-Boehner hard-ons from the cries and pleas of the public for them to 'save us, save us' is living in fantasy land.  All this is doing is reaffirming to these egotistical assholes that they are our masters and we can't survive without their help.  Prolonging it only serves to remind us who is charge.  Why not let it go to hell and over the cliff...it will only serve to remind us in the future what they can do to us if they don't get their way.  

And what are they saving us from...an asteroid, a hurricane, alien invasion?  No a financial clusterfuck of their creation yet they act like its some sort of unavoidable natural disaster that God has wraught on us and only they can save us from.   Thank goodness the gods on Mount D.C. will resuce us from it.  

 

Thu, 12/27/2012 - 17:42 | Link to Comment max2205
max2205's picture

Playing 3:30 news stories is gonna make me rich. Thanks Ben and you stupid 535 idiots!

Thu, 12/27/2012 - 17:43 | Link to Comment youngman
youngman's picture

it really is an old script.....and the final curtain..will just be a kick the can....then we wait for them to change the Marque...to the new movie...the thriller of The Debt Ceilng returns.......

Thu, 12/27/2012 - 17:44 | Link to Comment Tsar Pointless
Tsar Pointless's picture

So all of ths happened in the time it took me to go buy "The Long Run" album by The Eagles and get my twice-yearly teeth cleaning done.

Too bad most of Amerikkka isn't paying attention. You literally can't pull yourself away from this stuff for an hour. You miss so much inaction.

Tragedy, turned into farce.

Greatest country in the worldTM.

Thu, 12/27/2012 - 17:47 | Link to Comment ATG
ATG's picture

Busy trading day:

Puts, Calls, Puts.

One of yer best yet TD/ZH, from Headline to Algasm..

Thu, 12/27/2012 - 17:46 | Link to Comment Smuckers
Smuckers's picture

The market is just a circus trampoline act performed by a bunch of mewling half-dead kittens.

Pass the fucking popcorn.

 

 

Thu, 12/27/2012 - 17:50 | Link to Comment NeedleDickTheBu...
NeedleDickTheBugFucker's picture

Selloffs in after-hours trading is irrelevant.  For the masses, it's out of sight, out of mind.  As long as that cash market closes green or is "well off the intra-day lows", then everything is fine.

Thu, 12/27/2012 - 17:58 | Link to Comment hooligan2009
hooligan2009's picture

since congress, the senate and the prez can't add up enough numbers to work out a deal, here is an alternative.

go to the people and offer the choices below:

1) pay down our debt by operating fiscal surpluses until debt gdp is 50% (average cost per household from loss of benefits or increased taxes = 15,000 p.a.) 

2) run a deficit of 3% per annum for the next five years and set the debt ceiling at 120% of gdp (average cost per household of 7,000 p.a.) 

3) continue kicking the can until the country is bankrupt and set no debt limit by supporting an extension of benefits and tax cuts (short term cost between 0 and 2,000 p.a.; long term cost (from 2018) 25,000 p,a, per household.

Once we the mobocracy votes for choice 3, the cogniscenti can go galt.

no representation without taxation

neither a receiver of benefits not a taxpayer be! 

A galt person is someone who reminds me of the slaves under spartacus in the movie who all claim to be spartacus rather than give up their rebel leader. Another quote from that movie "when a free man dies, it is the end of life; when a slave dies, it is the end of suffering"

Thu, 12/27/2012 - 18:06 | Link to Comment adr
adr's picture

My plan is:

Cut every pension, shut off the EBT system, end SS disability, let everyone on medicaid figure out how to put a bandaid on themselves, cut all federal funding to Big Ag, Big Pharma, Big Oil.

Then cut off some heads in Washington and get ready to kill about 50 million bottom feeders who can't exist without a filled EBT card every month.

This will happen at some point. Our society will not exist based on any form of the current system. There is no way out without at least 50 million dead. Better to do it now, rather than wait until the death toll will hit 150 million or more.

Sadly the Cloward and Piven strategy is to abuse the system until the casualties from the collapse will reach 90% or more.

Thu, 12/27/2012 - 18:28 | Link to Comment hooligan2009
hooligan2009's picture

oops..."nor a taxpayer be!"

Thu, 12/27/2012 - 17:59 | Link to Comment adr
adr's picture

Jonnie Five would program a replica of the electronic market and transfer everything over to the fake one, then implode the real market and say, "All your money is mine now, bitchez."

Thu, 12/27/2012 - 18:15 | Link to Comment devo
devo's picture

What I'd like to know is what happened to all the CDSs and derivatives in the system. We haven't heard anything about them lately...

Thu, 12/27/2012 - 18:15 | Link to Comment MassDecep
MassDecep's picture

Just remember,whatever happens, is scripted. They are all run by the same evil and if evil say's go over the (just resurrected) cliff, then by golly, they will make sure that happens. Nothing is done by happenstance anymore; it is all done in unison for their purposes.

Thu, 12/27/2012 - 18:19 | Link to Comment Cult of Criminality
Cult of Criminality's picture

"Reid-Off; Boehner-On; McConnell-Off; Reality-Gone"

Reminds me of squirrels

Thu, 12/27/2012 - 18:26 | Link to Comment hooligan2009
hooligan2009's picture

meerkats!!!

Thu, 12/27/2012 - 18:18 | Link to Comment buzzsaw99
buzzsaw99's picture

i thought we had free market capitalism. why is everything so dependent on what the gubbermint does? [/sarc.]

Thu, 12/27/2012 - 18:26 | Link to Comment Tombstone
Tombstone's picture

Them poor souls, most of them on Obamafare and starving in the streets of Wasting-ton DC, are likely front running the markets, buying with their last dollars and whatever grub stakes they can beg from Benny....Woe is our esteemed group of lawmakers and lawbreakers, never to be so crass and uppity, to only be so humble as their ever-so-high-up-in-the-sky leader, Zeus of Illinitus...cry a tear so that our most holy hired leaders can find a way to slightly ease up on the forthcoming screwing of the rich and all who work for a pittance of pay and who have gladly laid down the sword of freedom to become slaves of the new socialism in Non-America...

Thu, 12/27/2012 - 19:06 | Link to Comment DrDinkus
DrDinkus's picture

goes without saying...but these write ups are the shiznit. helps me keep me head on straight amongst the circus

 

Thu, 12/27/2012 - 19:17 | Link to Comment chump666
chump666's picture

It's a bear trap year end, since insiders are selling out, the machines are trying to suck in...any suckers, on any news, on their MA's and VWAP trading ranges.  Plus, gold, oil, silver, AUD, CAD, Asia equities, Europe are all bid. So a correlation trade for a sell off isn't there, also the YEN has to go bid (it will once the Nikkei corrects) and DXY needs to show some movement either way, preferably up for a stock sell off.

The market is rigged only on machines holding ranges and sucking in longs, the money printers are idiots.  Good news is volatility is spiking, that is actually great news, Jan kicks in with wild swings, should set the year off as a horrible year for momo trades.

Patience Gremlins. http://youtu.be/1JITC1fo2HA

 

 

Thu, 12/27/2012 - 21:26 | Link to Comment klockwerks
klockwerks's picture

Hey Chump, do you have a web site to get info on insider selling

Thu, 12/27/2012 - 22:57 | Link to Comment chump666
chump666's picture

This is last weeks, for the actually ratio you need a subscription:

http://www.finviz.com/insidertrading.ashx?or=-10&tv=100000&tc=7&o=-trans...

It's running above 6-1, also the Nasdaq is a good proxy for insider selling and it's been selling harder than the other index on a 3mth chart.  The insider trade is a good one to watch only because that is the 'sideline' money.  The markets are now HFT dominated, so from a novice perspective and also a greedy one, they can be deceptive.  Thinking that a break out is imminent.  What the machines do very well is they support the moving averages and keep a bid market (on a good day), this is to suck in long positions and 'sidelined' money.  But machines don't hold stocks, therefor they cannot really determine value pe se, they just scalp.  In saying that, the liquidity still comes form us, the humans.  So we pull the rug, the sh*t flies. 

Other thing to wtach for is the Jan effect, some commentators called it well (Jan 2012 and Presidential cycle), but we did have the Nov 2012 correction and indexes are struggling to gain end year.  2012 is a closed book soon.  2013 will be a different play.

Fri, 12/28/2012 - 00:04 | Link to Comment Freddie
Freddie's picture

Hey are we going down or at least staying flat in this stupid fake ass casino?  I have some vertical put spreads cause I think we stay flat or go down. 

Thanks bro. Don't taze m ebro.

Thu, 12/27/2012 - 20:29 | Link to Comment mariner22
mariner22's picture

I know the Republicans are leary of being blamed for the consequences of going over the cliff, but I think whatever negative impact occurs will be long forgotten when Obamacare effects hit Americans - 1) Massive increase in premium costs for those that have to contribute to their insurance at their workplace, 2) Financial Penalties for those who go without (as if most employed Americans can write a check for 10% of their income to buy Obamacare subsidized insurance, and 3) All of those full time workers that will not get 30 hours a week in 2013 so companies can avoid penalities.

Thu, 12/27/2012 - 20:29 | Link to Comment mariner22
mariner22's picture

I know the Republicans are leary of being blamed for the consequences of going over the cliff, but I think whatever negative impact occurs will be long forgotten when Obamacare effects hit Americans - 1) Massive increase in premium costs for those that have to contribute to their insurance at their workplace, 2) Financial Penalties for those who go without (as if most employed Americans can write a check for 10% of their income to buy Obamacare subsidized insurance, and 3) All of those full time workers that will not get 30 hours a week in 2013 so companies can avoid penalities.

Thu, 12/27/2012 - 23:27 | Link to Comment blunderdog
blunderdog's picture

Maybe all the preznits are just unilaterally passing laws that completely blow up the future.  This appears to have been the strategy since about 1913/1935/1965/1983/1994/2003/2010/etc, if you want to be clinical and all...

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