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Market Opens Near Friday's Lows As Senate Gives Up (Early) For The Night

Tyler Durden's picture




 

UPDATE: ES scrambled up to Flash-Crash lows at 1391.5

No Deal; No Deal. The updates came thick and fast and almost entirely full of nothing until Harry Reid called a halt to proceedings:

  • *REID SAYS SENATE WILL RESUME WORK AT 11 A.M. TOMORROW
  • *REID SAYS `THERE'S STILL TIME LEFT' TO REACH BUDGET AGREEMENT

S&P 500 Futures Open at Friday's lows amid higher than average volume but is modestly off the lows as an initial push (ES +4). EURUSD is 8 pips higher (in a purely algo-oriented lift as it was completely oblivious into Friday's close).

ES bounced a little

 

EURUSD vs ES

 

ES up to Flash Crash lows... interesting from here...

 

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Sun, 12/30/2012 - 19:10 | 3107534 Money 4 Nothing
Money 4 Nothing's picture

Not so much that graph.. It's more like this.. http://www.youtube.com/watch?v=dWONT47LFZM&feature=player_embedded

Sun, 12/30/2012 - 19:14 | 3107542 Sudden Debt
Sudden Debt's picture

was that a plane?

Now that was cool :)

Sun, 12/30/2012 - 19:29 | 3107576 Money 4 Nothing
Money 4 Nothing's picture

Hello nine one one what's your emergency? Umm.. Hello? 911? Uhh Yea, we were just like.. hit with an airplane or something? Uuuh..  No,The only marking I saw on it was NYSE thin air, guess that explains why it like hit my car and stuff..  Huuh? No were not high.

Sun, 12/30/2012 - 20:05 | 3107660 ball-and-chain
ball-and-chain's picture

Ain't gonna happen.

This is all just posturing.

They'll hammer out a deal.

Wall Street and London are calling the shots.

http://www.angrysinner.blogspot.kr/2012/12/sunday_30.html

Sun, 12/30/2012 - 21:32 | 3107663 Looney
Looney's picture

These idiots (no offence to the growing army of the FAKE Disability Benefits recipients) need to implement the European negotiations model.

1.      Start the Meeting/Summit after 7 p.m.

2.      Make sure that all parties involved are force-fed to induce their sleepiness.

3.      All negotiators must provide a proof that they are absolutely incapable of making a livin’ (legally or otherwise) outside of politics.

4.      Whoever thinks he/she has the most cards up their sleeves/asses must fake a German accent and be (or permanently turned into) a paraplegic.

5.      The judges must be GS/JPM former or current employees.

Looney

P.S. I'm sure, I'm missing quite a few "conditions", so please, ZeroDudes and ZeroDudettes, fire at will. ;-)

P.P.S. Happy (or at least safe) New Year to y’allZ!

Sun, 12/30/2012 - 19:30 | 3107583 OneEyedJack
OneEyedJack's picture

We are offering you exclusive footage of the accident Tu-204 at Vnukovo airport. Footage filmed witness whose car caught the plane rolled out to Kiev highway

     Category

     News & Politics
     License

Mon, 01/07/2013 - 23:29 | 3107762 Looney
Looney's picture

ha!

Looney

Sun, 12/30/2012 - 20:13 | 3107682 SunRise
SunRise's picture

"Was that a plane?"  It was Bernanke's Helicopter. . . cash overload

Sun, 12/30/2012 - 19:17 | 3107554 maxmad
maxmad's picture

Yep... Lets call it a night, its not like the economy is riding on this!

Sun, 12/30/2012 - 19:54 | 3107634 Everyman
Everyman's picture

Some "Stock Trader" on CNN just 15 minutes ago stated that 2013 could be a great year for stocks!!!  He said if the fiscal cliff is not solved it is a "buying opportunity"!!!  And if the "Fiscal cliff is solved"??  IT is good for the markets according to this fucking asshole wizard.  He was on with a three way Blow with Don Lemon and Ali Velshi.

Sun, 12/30/2012 - 21:29 | 3107879 edb5s
edb5s's picture

Goddamn right you are missing something.  It's a buy the dip scheme.

 

http://www.youtube.com/watch?v=jllJ-HeErjU

Sun, 12/30/2012 - 21:41 | 3107904 Looney
Looney's picture

BTFD, YFI! ;-)

 

I ain't got nottin' left to buy it with, though... ;-)

 

Sincerely Yours,

Fucking Idiot , aka Looney

 

Sun, 12/30/2012 - 19:20 | 3107563 prains
prains's picture

nothing is happening that's NOT supposed to happen, much to do with nothing at this point

Sun, 12/30/2012 - 20:27 | 3107709 Everyman
Everyman's picture

OH YEAH???  Well here is a Senator with the CALM Act

http://www.washingtonpost.com/blogs/post-politics/wp/2012/12/30/manchin-...

 

YOU can't make this shit UP!  It is all TOOO  REAALLLL!

 

Sen. Joe Manchin (D-W.Va.) has introduced a new bill that he says would soften the impact of going over the fiscal cliff.

It’s called the Cliff Alleviation at the Last Minute (CALM) Act, and Manchin says he’s not happy to author it.

“This is not a great plan, merely a better plan than going over the cliff,” Manchin said in a floor speech. “It should never have come to this.”

The measure would phase in the looming tax increases over three years, rather than all at once, and allow the Office of Management and Budget to pick which programs would be cut rather than having the across-the-board cuts contained in sequestration.

 

Cliff Alleviation at the Last Minute (CALM) Act,  ARE YOU FUCKING KIDDING ME YOU FUCKING ASSCLOWNS????!!!!???!!!

 

These FUCKS in congress can't even start the cutting of spending and are leaving it to the OMB!!!!!  They just got a fucking raise!

 

 

Sun, 12/30/2012 - 20:34 | 3107727 Money 4 Nothing
Money 4 Nothing's picture

Does that act include Goose Down pillows to cushin a plane wreck?

 

Next up..? S-BITH Act (Put-the-shit-back-in-the-horse) Act of 2013.

Sun, 12/30/2012 - 20:34 | 3107739 walküre
walküre's picture

The FUCKS are living more dangerously as each day passes. Who doesn't think these guys are completely useless and should all get kicked to the curb? For real. Who would stand up for their Congress idiot if the mob got in and closed shop in DC, sending all these assclown Congress critters right back home? The only reason most of us would stand up is to applaud and give the mob a standing ovation for finally shutting this fucking farce of a political circus down.

What's the fucking point anymore? They had years to prepare for this event and then they give us this last minute bullshit where all comes down to the wire????

Making up shit as they go?

If I had ever worked like this in my life, I'd be collecting fucking bottles to buy a burger meal!!!!!!!!!!

FIRE THE WHOLE LOT AND BE DONE WITH IT! THIS CONGRESS IS NOT WORTHY TO GET PAID. NOR ARE THESE IDIOTS WORTHY TO REPRESENT ANY OF US ANYMORE!

Sun, 12/30/2012 - 19:31 | 3107586 Freddie
Freddie's picture

The night is young and Hairy Reid and the Dems have loads of hookers they can go see.  

The Tea Party conservatives in the House should keep telling Obam to F himself.  The House consevatives should tell Obama/Reid and Pelosi they are cutting 105 across the board and no tax increase.

Damn - I get a banner ad for a used 2011 Ferrari 458 for $299,988 in Sterling VA at a DC dealership.  Too much fiat Bernank bucks in DC to buyhihgher end FIAT's. 

My neighbor has a new one in red just like it. He needs his taxes raised. F him!  The bastard must have dropped at least $325,000 in Bernank bucks on it.

 

Sun, 12/30/2012 - 19:40 | 3107606 ebailey5
ebailey5's picture

Come with dedicated State Mountie with full ticket book already partially filled out with name and address, lacking only date and MPH.

Sun, 12/30/2012 - 20:50 | 3107786 Freddie
Freddie's picture

The old bastard is out there on Sunday at lunch time always blipping the throttle with that glorious Ferrari sound.  he then takes off.  Old F.   At least he is not an O voter.

Talk about keeping up with the Jonese.  Ain't gonna happen.  Sad. :-(      Tax the rich!  ;-)

Sun, 12/30/2012 - 19:46 | 3107618 Michaelwiseguy
Michaelwiseguy's picture

29 hours and 15 minutes to go for multi-billionaires to drop dead to avoid the 55% estate tax. Not too high a price to see David Rockefeller drop dead before midnight tomorrow. 

Sun, 12/30/2012 - 20:02 | 3107649 Freddie
Freddie's picture

How about gun banners like Bloomberg and Murdoch?  Crony state fascists like Buffett and Munger.

Sun, 12/30/2012 - 20:05 | 3107659 Michaelwiseguy
Michaelwiseguy's picture

One can hope and pray.

Sun, 12/30/2012 - 20:52 | 3107793 Freddie
Freddie's picture

I mean WTF is with David Rockefeller?  He is about 100.  Doesn't Satan want to call that evil prick home yet? 

Too busy counting the $8 billion he makes off of EBT cards at his The JP Morgue (Chase).   Dante's Inferno awaits.

Sun, 12/30/2012 - 22:10 | 3107950 adr
adr's picture

He might be 100 based on the year of his birth, however I doubt the age of any internal organ is over 18. The perks of being in the upper part of the .1%.

Sun, 12/30/2012 - 20:00 | 3107644 Freddie
Freddie's picture

I tried to edit it.  It should be the House conservative Tea Party types should cut 10% across the board from the budget including Obama's exec order salary increase for govt workers. 

Cut 10% on EVERYTHING.  Then when the debt limit has to be raised cut 5-7% more.  Real cuts on everything.

Sun, 12/30/2012 - 20:17 | 3107695 WonderDawg
WonderDawg's picture

Great idea, but it'll never happen. They can't make actual cuts to spending because it cuts right into GDP. If it weren't for gov't deficit spending, GDP would be about -8% right now. They know this. To cut spending means to admit that their policies have done nothing to rejuvenate the economy, and it means political suicide. Never gonna happen until the bond market makes it so.

Sun, 12/30/2012 - 19:13 | 3107541 TrustWho
TrustWho's picture

New Zealand opened down 0.3%. Could be interesting how the markets deal with the political chaos. May not care with the Daddy Bernanke just waiting for the moment to show BOJ how to really print mo money

Sun, 12/30/2012 - 19:14 | 3107543 tallen
tallen's picture

This mkaret mkaes no snsee

Sun, 12/30/2012 - 19:20 | 3107552 FinalCollapse
FinalCollapse's picture

I like how the whisky is working. Ah, these nice Sunday afternoons....

Sun, 12/30/2012 - 19:36 | 3107597 Goldilocks
Goldilocks's picture

Rikki Tikki Tavi Part 1 of 3
http://www.youtube.com/watch?v=0CrEX4MxAzA (7:14)

Rikki Tikki Tavi Part 2 of 3
http://www.youtube.com/watch?v=JPXSaFqxrWs (8:58)

Rikki Tikki Tavi Part 3 of 3
http://www.youtube.com/watch?v=seoKslUkDkE (7:52)

Sun, 12/30/2012 - 19:16 | 3107547 Sudden Debt
Sudden Debt's picture

Das gold ies looking good her fuhrer!

Sun, 12/30/2012 - 20:36 | 3107748 walküre
walküre's picture

Hello Sudden Debt. My name is Gerard Depardieu and I'm looking for a nice Belgian banking bitch. Will you be that bitch?

Sun, 12/30/2012 - 19:16 | 3107549 ShortTheUS
ShortTheUS's picture

CNBC must be so disappointed that their special is going to be on with the futures up...

Sun, 12/30/2012 - 19:21 | 3107562 Zer0head
Zer0head's picture

When Bear went down there was no special just some CNBS Asian anchors trying to make sense of it all  but I know exactly where I was that fateful Sunday

Sun, 12/30/2012 - 19:16 | 3107550 Racer
Racer's picture

Give up early and start work late? No need to hurry eh?

Sun, 12/30/2012 - 19:53 | 3107633 Gene Parmesan
Gene Parmesan's picture

What kind of scumbags start at 11am after all this? The charade is insulting.

Sun, 12/30/2012 - 23:23 | 3108110 Freddie
Freddie's picture

Scumbags who steal your money and future and who also want to disarm you.  Those Senate scumbags.

Mon, 12/31/2012 - 01:31 | 3108274 dlc
dlc's picture

Well, I expect they all wanted to watch the Cowboys/Redskins BIG game, and they made the call regarding which way to spend their time is more important.  But not to worry--Joe Biden will surely resolve the mess.

Sun, 12/30/2012 - 19:16 | 3107551 drwillia1
drwillia1's picture

Looks like there is a high due on the 4th.

change-in-trend.com

Sun, 12/30/2012 - 19:18 | 3107556 surf0766
surf0766's picture

A budget agreement. WTF is a budget? 

Sun, 12/30/2012 - 19:26 | 3107571 Tenshin Headache
Tenshin Headache's picture

A barbarian relic.

Sun, 12/30/2012 - 19:29 | 3107581 akak
akak's picture

"Tradition"

Sun, 12/30/2012 - 19:31 | 3107585 Goldilocks
Goldilocks's picture

"Whimsical."  ‘;-)

Sun, 12/30/2012 - 19:40 | 3107604 cossack55
cossack55's picture

"transitory"

Sun, 12/30/2012 - 19:44 | 3107616 Selah
Selah's picture

We don't need no stinkin' budgets!

Sun, 12/30/2012 - 19:57 | 3107638 akak
akak's picture

"Terrorism"

Sun, 12/30/2012 - 20:17 | 3107688 noob
noob's picture

...could be just,

Phil Collins - Another Day In Paradise

http://www.youtube.com/watch?v=Qt2mbGP6vFI

Sun, 12/30/2012 - 20:14 | 3107685 TheLooza
TheLooza's picture

we don't need no shrinkin' budgets?

Sun, 12/30/2012 - 20:23 | 3107707 Selah
Selah's picture

Double word-play!

 

Outstanding. I hope Tyler picks that up for a headline.

Sun, 12/30/2012 - 19:49 | 3107628 NoDebt
NoDebt's picture

"A myth".  Like unicorns, bigfoot and sanity.

Sun, 12/30/2012 - 20:58 | 3107808 Money 4 Nothing
Money 4 Nothing's picture

Or like Barry Soetoro getting Tim Osman aka Osama Bin Laden. or building 7 kinda tales.

Sun, 12/30/2012 - 20:03 | 3107654 Freddie
Freddie's picture

A budget?

It is racist.

Sun, 12/30/2012 - 21:52 | 3107921 knukles
knukles's picture

Oh, like you mean askin' people of that kind to use a budget is.....

Nevermind....

Sun, 12/30/2012 - 23:15 | 3108099 Oldballplayer
Oldballplayer's picture

I said, "be niggardly". Do I have to explain this every time. Or should I just ask them to be cheap.

Sun, 12/30/2012 - 19:19 | 3107557 Proofreder
Proofreder's picture

Why, fergawdsake, can this petition to end the fed only have a few thousand signatures???

https://petitions.whitehouse.gov/petition/replace-private-fed-transparen...

Guess no one else cares enough to sign or cynicism reigns supreme.

America - fuck yeah !

Sun, 12/30/2012 - 19:22 | 3107565 OneEyedJack
OneEyedJack's picture

not going anywhere near anything with dot guv in the url

Sun, 12/30/2012 - 19:37 | 3107600 Proofreder
Proofreder's picture

Another know nothing with head in sand?

Or in another place perhaps.

Go ahead, tell us what you really think.

Sun, 12/30/2012 - 20:10 | 3107675 OneEyedJack
OneEyedJack's picture

Ok,

 What I really think.. and please ponder what I say before you spout off.

Since the dot gubs of this world got us into this mess...

WHY on earth would you go to them to solve it???

What do you really expect from your petition?? a come to Jesus moment and all will mend their ways? Come back to earth

 

Sun, 12/30/2012 - 19:24 | 3107568 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

The Senate gave up early so they could start front-running the futures market.

Sun, 12/30/2012 - 19:25 | 3107570 ebailey5
ebailey5's picture

The PPT never sleeps, must have a dendrite into the HFT Algo--too much fun to infuse some curare and watch the /ES market act like an elevator with a broken cable.

Sun, 12/30/2012 - 19:34 | 3107592 Boilermaker
Boilermaker's picture

Well, when the entire middle class has been told to invest their entire retirment into 401(k), you can be sure Ben knows they'll be watching the futures. 

They'll ramrod the fuck out of it.  Who cares how ridiculous it it?  Do it anyway.  AT ALL COSTS!

Sun, 12/30/2012 - 19:27 | 3107577 Goldilocks
Goldilocks's picture

The Black Crowes- Remedy

http://www.youtube.com/watch?v=5qD72NCJSkk (5:17)

Sun, 12/30/2012 - 19:28 | 3107579 devo
devo's picture

Stocks will be up

Sun, 12/30/2012 - 19:47 | 3107624 LouisDega
LouisDega's picture

Is that you Joe Weisenthal? Is this me?

Mon, 12/31/2012 - 00:12 | 3108186 mwarden
mwarden's picture

ES +20 after senate releases this statement on the latest negotiations http://www.youtube.com/watch?v=WbAqWA-dxvw

Sun, 12/30/2012 - 19:30 | 3107582 Conman
Conman's picture

Same as always, ramp it up then cash out. Anyone buying into it deserves to get fucked.

Sun, 12/30/2012 - 19:31 | 3107588 Boilermaker
Boilermaker's picture

Better look again.

Ben is in there cornholing the ES higher anyway.  It'll be +15 handles or so by morning.  It's the same old bid-the-shit-out-of-it-at-all-cost program as always.

This will be retarded.  Gauranteed.

A 'short squeeze' will be the reason to ram-rod the fuck out of the SPX 30 or so handles tomorrow.

Sun, 12/30/2012 - 19:43 | 3107595 LouisDega
LouisDega's picture

Im going to bed. My quart of Carlo Rossi merlot has done its job. Hiccup, Hiccup. What is a fiscal cliff? 

Sun, 12/30/2012 - 19:37 | 3107601 I am a Man I am...
I am a Man I am Forty's picture

Last minute deal will be made.  Nothing but theater.

Sun, 12/30/2012 - 20:08 | 3107670 DavidC
DavidC's picture

I've searched on Thomson Reuters and there are no news stories or headlines at all related to this - the news search goes back months so it should have returned something if there was anything there.

DavidC

Sun, 12/30/2012 - 20:20 | 3107686 Money 4 Nothing
Money 4 Nothing's picture

Read the article release dates in the link. the Hawaii decision is brand new.This PDF is just for good measures. http://butterdezillion.files.wordpress.com/2012/09/complete-klayman-letter-to-bauer.pdf

Sun, 12/30/2012 - 21:17 | 3107831 DavidC
DavidC's picture

The TR news search searches from, and includes, the LATEST headlines, as in NOW.

DavidC

Sun, 12/30/2012 - 21:21 | 3107861 Money 4 Nothing
Money 4 Nothing's picture

Don't act like a dick just because it's not on your favorite Zionist news outlet. Just like my dad, if it wasn't on Fox News.. It didn't happen.

Sun, 12/30/2012 - 21:34 | 3107885 DavidC
DavidC's picture

Careful. I was responding, pointing out a fact. Whether or not you like it, TR news will, and does, report facts. It may have an agenda (I don't know) but it most certainly is NOT Fox news.

One other point, do NOT accuse me of acting like a dick when all I was doing was pointing out a fact. I don't take anything at face value without verifying. I don't indulge in name calling - whether I agree or not with your original post, please grant me the same courtesy.

DavidC

Sun, 12/30/2012 - 23:31 | 3108124 Freddie
Freddie's picture

Verifying?  You are pretty naive in think the newsmedia (especially TR), TV, Hollywood or any media is a source to verify anything anymore.  

They tell you want you need to know and the way you need to know it.

 

Mon, 12/31/2012 - 08:13 | 3108423 DavidC
DavidC's picture

1 - I didn't say it was the ONLY place I'd looked (it wasn't).
2 - No more naive than believing anything or everything I read in the blogosphere.
3 - Yes, ANY media (that INCLUDES the internet!).
4 - Why ESPECIALLY TR? It's not infotainment (like Fox, CNBC etc)?

I've been around too long, and trading these markets long enough, so naive? Hardly. I know the more reliable sources of information. Fact. DavidC

Sun, 12/30/2012 - 20:39 | 3107760 Everybodys All ...
Everybodys All American's picture

I'll believe this matters when I see Obama on a limo ride out of the WH after a resignation speech. Who knows maybe the media might cover that.

Sun, 12/30/2012 - 19:42 | 3107612 devo
devo's picture

Yep. And getting everyone habituated to tax hikes/spending cuts.

Sun, 12/30/2012 - 19:56 | 3107636 Fox-Scully
Fox-Scully's picture

Meet at 11am, Hell half the day is almost gone already.  Did they ever hear of getting up at sunrise to do the work that is necessary!

Sun, 12/30/2012 - 20:10 | 3107679 blown income
blown income's picture

No fucking shit , my azz gets up at 4:45am to go to work 11 is lunch

Sun, 12/30/2012 - 20:35 | 3107706 Freddie
Freddie's picture

Senators have the best gig you could ever dream of.  They work about 3 days a week at the most.  The rest of the time is spent trading on inside information, dodging yacht taxes like Kerry, endless scams the Harry Reid klan dreams up in Nevada and other vile bullshit like banging hookers, snorting coke, spending your money.

Sun, 12/30/2012 - 19:57 | 3107639 tooriskytoinvest
tooriskytoinvest's picture

While The Global Economy Tottering On The Edge of America’s Fiscal Cliff, Wilbur Ross Sees Recession In US, Warns of 'Greek' Debt Situation!!!

http://investmentwatchblog.com/while-the-global-economy-tottering-on-the...

Sun, 12/30/2012 - 20:07 | 3107664 grunk
grunk's picture

Don't you understand?

The Redskins/Cowboys game is on tonight.

Screw the cliff!

Sun, 12/30/2012 - 20:08 | 3107665 I am Jobe
I am Jobe's picture

Pussies in DC. WTF. Reid should commit harikari. People in NV are fucked up voting for this idiot over and over. Shows how inbred fucks are in NV.

Sun, 12/30/2012 - 20:08 | 3107667 orangegeek
orangegeek's picture

NASDAQ100 looking pretty much the same as Dow / SP500 - down, down, down.

 

http://bullandbearmash.com/chart/nasdaq100-weekly-falls-2-short-week/

 

 

Sun, 12/30/2012 - 20:10 | 3107678 intheshortrun
intheshortrun's picture

Talks only resume after 11:00 am tomorrow,how convinient! Trust me if no deal is reached it will only be annouced after the closing bell tomorrow. In the meantime the algos will ramp up on Wedndeday when the "No desl" is a distant memory.

Sun, 12/30/2012 - 20:22 | 3107703 El Hosel
El Hosel's picture

....... Senate gives up?

  Hah!, I say.

Sun, 12/30/2012 - 20:20 | 3107701 ItsDanger
ItsDanger's picture

They didnt give up early.  Right on schedule.  Football game starts at 8pm after all.

Sun, 12/30/2012 - 20:20 | 3107702 docj
docj's picture

Look, from a purely political/theatrical perspective, why in heck would Obama/Reid do anything at this point? They're about to get everything they want - taxes go up, big, without a single vote; defense spending gets "slashed"; and their inept, stupid "opposition" gets blamed for everything.

Sun, 12/30/2012 - 20:27 | 3107715 TheLooza
TheLooza's picture

this is right, accept Dems appear to be the more rational actors when it comes to the debt ceiling.  One gets the feeling the House is willing to take this thing nuclear.  Thats where all their leverage is and they intend to pull on it.

 

and now im going to go pull on it too.  

Sun, 12/30/2012 - 20:36 | 3107747 ItsDanger
ItsDanger's picture

The bright is that unemployment benefits end at the same time so all the freeloaders can go get a new minimum wage job instead of lying on the sofa like they've been doing the past 2-3 yrs.

Sun, 12/30/2012 - 20:45 | 3107772 Freddie
Freddie's picture

The House should go nuclear. The f is not even eligible.  What has the House got to lose? They will be demonized by the NWO media no matter what.

The House should go nuke because The United States Inc. (a corporation) is dead and bankrupt. Game Over man!

We are just intangible assets or debts on this NWO corp's balance sheet.  

We probably will be downsized with chemtrails, HAARP or those DHS 1.5 billion .40 hollow points the corrupt thugs bought with our money.

That .40 shit may just run right up against 5 million licensed and pissed off hunters in the USA with scoped rifles and .308.   Plus probably about 4 million AR15s and .223.

Sun, 12/30/2012 - 23:07 | 3108086 Dapper Dan
Dapper Dan's picture

I doubt there are 4 million AR15s now, many have been lost recently in boating accidents, ironically the same thing happend to me not 3 days ago, water was very muddy and after my best efforts could not retrieve it. just as well, I here those black guns make you crazy. 

Sun, 12/30/2012 - 23:40 | 3108144 Freddie
Freddie's picture

+1

A "friend" had a boat and he liked to take his rifle, ammo and precious metals on boat rides.  The salt air supposedly was good for them.  Sadly, he dropped a gold bar and it went right through the hull of his boat and it sank.  He was fine but he misses them so.

Sun, 12/30/2012 - 20:35 | 3107742 Salon
Salon's picture

Thats what the market didnt realize.

Going over the fiscal cliff was the best option for both parties.

Sun, 12/30/2012 - 20:37 | 3107730 tip e. canoe
tip e. canoe's picture

over 

under

# of con-critters net short in their portfolio right now = 100

Sun, 12/30/2012 - 20:33 | 3107736 Salon
Salon's picture

The market priced in a smooth and timely end to the fiscal cliff.

This may be the first time in a long time I "knew" more than the market.

The hard part is knowing when to Reverse the trade. Somebody ring a bell for me please when risk is on again.

Sun, 12/30/2012 - 20:34 | 3107740 Never One Roach
Never One Roach's picture

Hot date with Buffy, Harry? Leaving so early?

Sun, 12/30/2012 - 21:31 | 3107881 Lewshine
Lewshine's picture

I know this is a stupid question, but I thought the SPY was down an additional 30 handles AFTER Friday's close...No?

Or, was this just another Bernanke slight of hand??

 

Sun, 12/30/2012 - 21:31 | 3107882 Lewshine
Lewshine's picture

I know this is a stupid question, but I thought the SPY was down an additional 30 handles AFTER Friday's close...No?

Or, was this just another Bernanke slight of hand??

 

Sun, 12/30/2012 - 22:04 | 3107931 ekm
ekm's picture

Hey people

Let me repeat this again:

 

The net longs or Primary Dealers are margined to the government.

Hence, ONLY OBAMA CAN MAKE THE MARGIN CALL.

 

Obama will make the margin call when:

1) It is suitable to him to make that call

2) When the REAL ECONOMY forces his hand.

 

So, people, forget about the word "market". The only market right now is called:

Barack Housein Obama

No different from 2008 when the market had only one name: George Walker Bush, whose hand was forced to make the margin call. The force that forced Bush was: OIL PRICE

Sun, 12/30/2012 - 22:36 | 3108001 Element
Element's picture

China may be getting a pickup due to temporary stimulus, making for an industrial commodities lift, but confidence has sunk in Australia as loan data is looking a bit sad.

 

-- 

Reserve figures show loan demand low
 
By online business reporter Michael Janda
 
Posted December 31, 2012 12:26:03
 
 Overall, the amount of new lending to the private sector was flat in November, after a 0.1 per cent rise in October.
 
A 0.6 per cent fall in loans to businesses was the main driver of the decline, following a 0.3 per cent decline in October.
 
Over the year to November, lending to businesses increased an anaemic 2.4 per cent.
 
Personal credit, such as credit card debt, continued its medium-term decline, falling 0.2 per cent in November, and down 0.7 per cent over the past year.
 
The only expanding category of lending to the private sector was housing, which rose 0.4 per cent over the month, following a similar increase in October.
 
Home lending has grown 4.6 per cent over the past year. [no significant problem there yet]
 
RBC Capital Markets economist Michael Turner says the fall shows households and businesses are still reluctant to take on more debt.
 
"This was the weakest result since June 2011 and underscores the lack of appetite for credit despite the price of it [interest rates] falling over the course of 2012," he observed.
 
"We expect more of the same though Q1 [the first quarter], which should form part of a case for further [interest rate] easing in Q2."
 
http://www.abc.net.au/news/2012-12-31/credit-growth-slow-rba-figures/444...

--

 

No confidence looking forward there - just flat prospects.

Sun, 12/30/2012 - 23:14 | 3108046 ZeroAvatar
ZeroAvatar's picture

Well, at least we can watch the Times Square ball drop.....a metaphor for these assclowns dropping the ball on America. 

 

When it hits bottom, the ground will open up like an event horizon around the rabbit hole.  Once the ball touches the event horizon, it will INSTANTLY and to INFINITY be stretched to the waiting singularity. 

 

Once the ball reaches the singularity, a new universe will be born out of this old, stagnant and fetid one.

 

THAT universe will be devoid of assclowns. THAT universe will have homogenous people living their lives in freedom, without the bloodsuckers and parasites that slowly stole their lives in the old one.  The new universe will have happy people living in harmony, working in their own self interests as they should but giving and taking as each sees fit, not having the fruits of their labor stolen at gunpoint to feed a nation of 'takers'.

 

 

THAT Universe, is a .....Whadda ya mean, I'm coming with you?  What have I done?   Fema what?  No!  BANG!  KA-BOOM!  KA-BLAAM! POP POP POP....

 

Sun, 12/30/2012 - 23:15 | 3108096 Grand Supercycle
Grand Supercycle's picture

Wile E. Coyote reminder:

Whether it’s caused by fiscal cliff, debt ceiling, Europe or something else, it doesn’t really matter because as noted before – another crash is guaranteed.

It’s a no brainer.
Charts don’t lie.

http://trader618.com
@grandsupercycle

Sun, 12/30/2012 - 23:19 | 3108104 walküre
walküre's picture

The market didn't end at 1384 on Friday EOD. How come Futures are green? It makes no sense what they're doing.

Sun, 12/30/2012 - 23:44 | 3108153 williambanzai7
williambanzai7's picture

Let's meet at 11. Seriously, is that something you typically hear when people are working towards a deadline?

Mon, 12/31/2012 - 00:26 | 3108209 ZeroAvatar
ZeroAvatar's picture

Georgia food stamps run out:

 

https://www.youtube.com/watch?v=Ufk7IXdxc-c

 

Watch the TAKERS howl!

Mon, 12/31/2012 - 04:49 | 3108362 Legolas
Legolas's picture

This should be required watching. 

Mon, 12/31/2012 - 00:28 | 3108212 akak
akak's picture

It is when they are operating according to a carefully choreographed script.

Mon, 12/31/2012 - 00:45 | 3108233 TonyCoitus
TonyCoitus's picture

I do more work before 11 than most politicians do all day........and I get up at 10:45

Mon, 12/31/2012 - 03:01 | 3108326 Arthur
Arthur's picture

Boy  this is getting uglier then I thought.  I had guessed that the Seanate would cook up some type of modest temporary package and the house would still balk.  Did not expect the Senate fumble.  

Interesting game. The working well to do, the average paycheck guys are going to get jammed, along with any poor estate planned dying rich guys, along with an another 27 million who experience the joys of the AMT.  WHACK - Whack - Whack.

I am now thinking that the D&R's game of chicken is more like two enemies tossed out of a plane.  Both are tied together each holding a parachute rip cord that can save them both if pulled but only on pain of losing an arm.  

Hear them scream.  

Now the super wealthy elite with nicely deversified holdings off shore can probably avoid the effects of any temporary tax code unwinding for the majority of their wealth is not derived from earned income and the taking of capitol gains can usually be delayed.

The poor and old will see entitlements wacked.  Boom.  Mostly D's take the hit.

Typical payroll stiff. Boom D's and R's

New to the AMT ranks D's & R's but a lot of blue state wealtheir D's take the hit.

Those with deeper pockets will be much better able to withstand the short term pain.

Military - Vets take the hit and defense indusstry too but most major programs will be deffered not cancled as talks continue.  Most larger contractors are sitting on a lot of cash and can furlough their workers for an extended time.

Who here thinks there will be any payroll tax roll back and refund?  I don't.  Income tax yes but noway the government is going to refund fresh dollars taken in from the payroll joes.

Maybe ultimately if nothing is done the superwealthy take a hit but the average democratic constituent will feel the pain first.

I am betting the Dems will cave first.  Will the economy nose dive, probably, will it recovery probably...eventually.  Stupid, stupid game.

Best for the country probably not. Can one party win this game of chicken?  I would rather not find out.

 

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