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Dow Jones Closes Just Shy Of 5 Year High As Intel Beats EPS, Misses Revenue And Guides Lukewarm

Tyler Durden's picture




 

Stocks surged (apart from AAPL) gloriously out of their super-narrow recent range, driven by recycled JPY rumors and some potential 'give' by the Republicans, and the rest of the risk-on complex tracked higher with it. Treasury yields pinged back to higher on the week as the S&P took out recent highs amid a very large surge in average trade size - something that often marks a climax in trend. It seems the selling of vol has hit its short-term limit (as VIX flatlined in general today) and so FX and credit were the levers today. Gold and Silver also surged on the day as Oil popped on the growing tensions in Algeria. In a premature release, Intel exposed an EPS beat, revenue miss, and weak guidance which sent algos scurrying and the share price snapping up and down into the close (and falling after). The bottom-line seems to be that the BoJ joining the infinite print brigade (and some very mixed US macro data) was enough to break us out of a narrow range - but the VWAP reversion into the close appears anything but follow through for the next leg up - as trade size suggests short-term trend change.

The world shifted a little today as VIX compression lost its mojo...

 

JPY weakness and the carry driver correlation were the basis for much of today's equity exuberance

 

S&P 500 futures tradedup to the up channel trendline highs - amid large block (blue)...

 

As average trade size surged...

 

Commodities surged (even as USD remained relatively flat)

 

 

Gold and the S&P 500 are now synced from 1/3/13 close at +1.4%.

 

Intel, afer trading up immediately on the headlines, is now trading down afterhours...

 

Full-Year 2013

  • Revenue: low single-digit percentage increase.
  • Gross margin percentage: 60 percent, plus or minus a few percentage points.
  • R&D plus MG&A spending: $18.9 billion, plus or minus $200 million.
  • Amortization of acquisition-related intangibles: approximately $300 million.
  • Depreciation: $6.8 billion, plus or minus $100 million.
  • Impact of equity investments and interest and other: net gain of approximately $100 million.
  • Tax Rate: approximately 25 percent.
  • Full-year capital spending: $13.0 billion, plus or minus $500 million.

Q1 2013

  • Revenue: $12.7 billion, plus or minus $500 million.
  • Gross margin percentage: 58 percent, plus or minus a couple percentage points.
  • R&D plus MG&A spending: approximately $4.6 billion.
  • Amortization of acquisition-related intangibles: approximately $75 million.
  • Impact of equity investments and interest and other: net loss of approximately $50 million.
  • Depreciation: approximately $1.7 billion.

Charts: Bloomberg and Capital Context

 

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Thu, 01/17/2013 - 17:31 | 3163919 spastic_colon
spastic_colon's picture

fed Lacker said today that there "really is no such thing as food and energy inflation"......I'm not shittin'

Thu, 01/17/2013 - 18:06 | 3164050 TruthInSunshine
TruthInSunshine's picture

Shy of 5 year highs, close to 14 year highs (nominally; negative 62% in real, inflation adjusted terms), blah dee da dohh.

[And that's if one doesn't include the Winners of The New World type stocks, like pets.com, that were Corzined, which the indexes don't even reflect, conveniently, Jeremy Siegel]

 

Buy stocks, bitches!

Thu, 01/17/2013 - 18:08 | 3164070 Dark Meadowlark
Dark Meadowlark's picture

Yes, buy stocks. Doomers have been predicting collapse going on for almost 5 years now. Wake up to the fact the FED saved us from another Great Depression!

Thu, 01/17/2013 - 18:14 | 3164083 TruthInSunshine
TruthInSunshine's picture

Yes, I know many people who thrived holding down to near zero (or actual zero) in 2000 and 2008/2009.

Buy stocks!!! Bawk!!! Great secular bull run breaking out! Bawk!! Nikkei4ever! Bawk!!!

Thu, 01/17/2013 - 18:32 | 3164130 akak
akak's picture

 

Doomers have been predicting collapse going on for almost 5 years now

And collapse has in fact been progressing for five years now --- you are just too deep into ignorance, self-denial and official propaganda to recognize it.

Where are stocks (in INFLATION-ADJUSTED TERMS) compared to five years ago, shill?  DOWN.  Where are gold and silver, even in inflation-adjusted terms, compared to five years ago? UP.  Where are the bonds (i.e., debts of profligate and unsustainably-overspending governments) beloved by all you conformist sheep?  In the biggest bubble in financial history.

Have fun eating all that shit that your masters keep telling you is prime beef.  Maybe you will even enjoy it, as you seem to leave dishing it out here.

Thu, 01/17/2013 - 18:34 | 3164171 Dark Meadowlark
Dark Meadowlark's picture

Have you seen the stock market latley? How is it that US stocks and other American assests are  preforming better than anything else in the world? It's simple it is called: RECOVERY!

Thu, 01/17/2013 - 18:37 | 3164189 akak
akak's picture

You know, as an MDB-style troll, you are not very convincing.

Thu, 01/17/2013 - 18:43 | 3164214 fonzannoon
fonzannoon's picture

Recovery....LOL

Thu, 01/17/2013 - 19:52 | 3164230 Yen Cross
Yen Cross's picture

 These(CB) assclowns pump $12-13 Trillion globally into the system and call breaking even winning!  Meanwhile we're drinking toilet water at Shitbucks...

Thu, 01/17/2013 - 18:59 | 3164263 ebworthen
ebworthen's picture

Dark Meadowlark said:

" How is it that US stocks and other American assests are  preforming better than anything else in the world?"

How is it?

http://www.usdebtclock.org/

Wow, watch those numbers roll.

I'm counting ~ $100,000 added every six seconds.

Recovery...um...yeah.

Thu, 01/17/2013 - 18:58 | 3164265 Yen Cross
Yen Cross's picture

 Your ignorance is bliss. Look at the DAX, Nikkei, ASX comp, before you insert foot in mouth<>

Thu, 01/17/2013 - 19:14 | 3164304 akak
akak's picture

I love how this assclown troll has created several sockpuppets in order to give himself multiple up-arrows, as surely virtually no regular ZH member would ever do so.  But is IS official US policy in order to undermine pro-liberty, anti-establishment conversation, after all:

http://leaksource.wordpress.com/2012/05/26/

Thu, 01/17/2013 - 19:17 | 3164334 Yen Cross
Yen Cross's picture

 Hoop shooters come in [gangs of five]. ;-)

Thu, 01/17/2013 - 19:21 | 3164344 fuu
fuu's picture

25 days, 10 posts, the first praising MDB as being right.

Thu, 01/17/2013 - 20:35 | 3164626 akak
akak's picture

Enough said.

Thu, 01/17/2013 - 22:58 | 3165058 TheFourthStooge-ing
TheFourthStooge-ing's picture

akak said:

I love how this assclown troll has created several sockpuppets in order to give himself multiple up-arrows, as surely virtually no regular ZH member would ever do so.  But is IS official US policy in order to undermine pro-liberty, anti-establishment conversation, after all:

http://leaksource.wordpress.com/2012/05/26/

Hmmmmm .........* you know, the stranger-than-fiction recent events, incidents, and crises, superficially distinct and unrelated yet somehow connected, appear to be congealing and taking shape, like the edge pieces of a jigsaw puzzle.

*non-standard ellipsis usage for dramatic effect

AnAnonymous raves and drools about US citizenism 'americanism', "the system that has been implemented first time in the America, on 1776, July, 4th," blobbing up and hijacking humanity. It's possible that his genuine insanitation is being employed as part of crafty Chinese citizenism offuscational diversionary scheming.

Your remark above about the Department of Homeland Sockpuppetry made me realize something shocking: the US is being transformed into yet another Chinese citizenism nation!

Thu, 01/17/2013 - 23:43 | 3165152 akak
akak's picture

 

Your remark above about the Department of Homeland Sockpuppetry made me realize something shocking: the US is being transformed into yet another Chinese citizenism nation!

The muchly mattering crustiness of your parangongistic wording of the mind here, and the shocking non-offuscationalized relevance of your throating of ideas, was impactionated on me in suchlike vigorousness as to make result in spontaneous expression of New World Odor Chinese citizenism in my pantaloons.

Fri, 01/18/2013 - 00:11 | 3165214 TheFourthStooge-ing
TheFourthStooge-ing's picture

Alas, alas, nine thirds alas, such realizings can be scorching.

Fri, 01/18/2013 - 00:24 | 3165232 akak
akak's picture

And drippy.

But like all the scorched hair while wokking the dog, just have to bear with it.

Thu, 01/17/2013 - 19:28 | 3164357 centerline
centerline's picture

ha ha.  Another moron who equates market health to economic health.

Fri, 01/18/2013 - 01:24 | 3165328 TruthInSunshine
TruthInSunshine's picture

And by "market health," we are speaking of equities floated (for now) at nosebleed levels on the wings of dead presidents, printed thusly & doled out to the chosen BFF of the FRBNY.

Sun, 01/20/2013 - 05:35 | 3170302 MeelionDollerBogus
MeelionDollerBogus's picture

Outperformance of what? Fraud? Theft? Confiscation of homes and bank accounts?

That's pretty much all the market's doing (major participants) and that's pretty much all Government & the central banks (not just the Fed) are doing.

That's not recovery. That's INSURRECTION and it will lead to civil war.

Did you not notice all those Occupy Protesters and all those Arab countries seeing governments topple, and growing firebombings at Greek Police and now there's been recent riots in Belfast AND Spain not only had a boycott / strike of a general election but ALSO Catalonia wants to BREAK OFF from Spain - the cash cow of Spain. You call this recovery?

This is civil global wars in the making.

Fri, 01/18/2013 - 05:50 | 3165531 DavidC
DavidC's picture

I think most bears or doomers would concede that they didn't realise just the extent to which CBs would go to, just to keep the Ponzi going. In fact, I think most bulls (with the exception of the big banks which, amazingly, keep doing SO well) would also concede that fact.

It doesn't mean they are wrong, just as they weren't wrong in 2006/2007/2008.

That which can't continue, won't.

DavidC

Thu, 01/17/2013 - 18:53 | 3164250 ebworthen
ebworthen's picture

Well for FED toadies who have all the money and connections they need, an incentive to keep those SS COLA's down along with interest rates, and maintain the hegemony and central control (death) of markets for the benefit of Wall Street - of course there isn't any such thing as food and energy inflation.

He may as well have said "there really is no such thing as liberty and self-determination".

Thu, 01/17/2013 - 17:36 | 3163926 Urban Roman
Urban Roman's picture

...and AAPL regains its 5-handle! Woo-f'n-hoo!

[edit] 
I see that happened yesterday. Oh well 

Thu, 01/17/2013 - 17:41 | 3163933 slaughterer
slaughterer's picture

Lots of bears calling a top across the trading sites today. 

Always good to re-view this classic however:

http://www.xtranormal.com/watch/7955331/confessions-of-a-former-bear-part-1

the brown-haired man with the mustsche in this video is where the ZH trader must end up as he cynically concludes how markets function.  

 

 

Thu, 01/17/2013 - 18:04 | 3164054 SheepDog-One
SheepDog-One's picture

Don't worry, soon as everyone is positioned just right for maximum losses, then they'll pull the rug out again.

Thu, 01/17/2013 - 18:08 | 3164066 TruthInSunshine
TruthInSunshine's picture

No real money can be made without periodic "noone could've seen it coming" mass cullings/sheople shearings, dawg, ya dig.

Thu, 01/17/2013 - 17:33 | 3163935 francis_sawyer
francis_sawyer's picture

Dow Theory bitchez... [Or, as Homer Simpson might put it... 'D-OH Theory']...

Thu, 01/17/2013 - 17:49 | 3163979 Shell Game
Shell Game's picture

As long as the graph points upwards and rightwards, everything's OhKey!

 

Chimps displaying Dow theory...   http://youtu.be/VRrMu7B1L2I

 

Thu, 01/17/2013 - 17:54 | 3164007 CaptainSpaulding
CaptainSpaulding's picture

That was good. Thanks

Thu, 01/17/2013 - 17:57 | 3164021 imapopulistnow
imapopulistnow's picture

Do graphs point leftwards in Arabic?

Thu, 01/17/2013 - 18:31 | 3164147 Haager
Haager's picture

At least in hebrew, they do point leftwards. 

Thu, 01/17/2013 - 20:01 | 3164174 Shell Game
Shell Game's picture

Only on an Ak-bar graph...

Thu, 01/17/2013 - 17:34 | 3163939 AccreditedEYE
AccreditedEYE's picture

S&P took out recent highs amid a very large surge in average trade size - something that often marks a climax in trend.

I'll believe it when I see it... till then, you BTFD. (or get your face ripped off!)

Thu, 01/17/2013 - 17:38 | 3163959 Comay Mierda
Comay Mierda's picture

SPX about to fall hard.  no important resistance level gets taken out on this pitiful volume.  the hedge funds are trying to lure you back in. dont take the bait

Thu, 01/17/2013 - 17:43 | 3163972 AccreditedEYE
AccreditedEYE's picture

You and 200 other hedge funds are thinking the exact same thing. Sorry, this market doesn't move on reality anymore. Go check out Slaughter's link above. Thx for the warning tho.

Thu, 01/17/2013 - 18:01 | 3164039 Comay Mierda
Comay Mierda's picture

there are other reliable technical indicators i track that are giving off warning signs.  look at a monthly chart of SPX going back to 1997 and an oscillator like full stochastics.  you will see 3 periods of significant divergence occur over that time period - 1999, 2007, and right now.  be careful if you are long spx.  gold is looking great though

Sun, 01/20/2013 - 05:25 | 3170299 MeelionDollerBogus
MeelionDollerBogus's picture

Even just an asymptotic curve - or re-scaling a linear price chart to exponential (not logarithmic) for DOW, S&P, NASDAQ, and you can see it clear as day.

2012 09 13 spy crash soon - http://flic.kr/p/daxu6H goldpricemodel

Diminishing returns, bitchez.

aapl 2013 jan long-term curves 02 goldpricemodel

linearizing DIA, SPY using base 1.05 http://flic.kr/p/a1db7U

For each price use 1.05 (price) then plot. When linear patterns are established on this scale, a data series produced for each, re-map this series to the real price chart as price(x) = log1.05 data_point(x).

Thu, 01/17/2013 - 18:06 | 3164057 SheepDog-One
SheepDog-One's picture

Theyre desperate to get some fresh meat, and its not gonna happen. Trying to ignite another stock frenzy...I mean....LMAO

Thu, 01/17/2013 - 18:17 | 3164093 fonzannoon
fonzannoon's picture

I bet they can do it sheep. I think retail will come roaring in pretty soon and get a giant deuce dumped on there head.

Thu, 01/17/2013 - 19:30 | 3164365 centerline
centerline's picture

We are approaching some really interesting levels across most major indexes.  By time extension, we are not going to have to wait too long for the next act in this show of horrors to reveal itself.

Sun, 01/20/2013 - 05:18 | 3170294 MeelionDollerBogus
MeelionDollerBogus's picture

yup, big time push on Muni's, high-yield credit and credit lines locked to CD's ... don't be fooled!

Thu, 01/17/2013 - 17:35 | 3163940 knukles
knukles's picture

5 year returns

 

S&P 500            about 5%
Long Treasuries  about 35%
Gold                 about 155%

Thu, 01/17/2013 - 17:56 | 3164006 TruthInSunshine
TruthInSunshine's picture

Do a 14 year returns summary, if you really want an eye opener.

(Include adjustment for survivorship bias on the equity indexes to really make it interesting.)

Thu, 01/17/2013 - 18:04 | 3164053 Comay Mierda
Comay Mierda's picture

and look at the sharpe ratios

Thu, 01/17/2013 - 19:30 | 3164369 centerline
centerline's picture

what color sharpie works best for that?

Thu, 01/17/2013 - 20:33 | 3164604 akak
akak's picture

 

Do a 14 year returns summary, if you really want an eye opener.

And then adjust for inflation (the REAL 70-80% price inflation we have had since 1999, not the laughably lowballed CPI of ~30%), and the results will not only open your eyes, they will make your eyes pop right out of your head.

Thu, 01/17/2013 - 17:35 | 3163943 gratefultraveller
gratefultraveller's picture

OT: Silver oz sold by the US Mint sofar: 6,007,000 and counting

http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2013

Thu, 01/17/2013 - 18:25 | 3164113 fuu
fuu's picture

Already the 3rd best January ever.

100,00 OZ out of second.

515,000 OZ out of first.

Thu, 01/17/2013 - 17:35 | 3163946 spastic_colon
spastic_colon's picture

in 2007 equities (ES) didn't peak until 9 months after the low in VIX....just sayin'....good thing VIX is still so reliable  /s

Thu, 01/17/2013 - 17:38 | 3163956 Everybodys All ...
Everybodys All American's picture

Nice ramp job on very weak volume. Who needs volume though. We haven't had a conviction of volume in months if not years.

What a sad state of a stock market. Nothing to see here just move along sheep.

 

Thu, 01/17/2013 - 17:38 | 3163963 Banksters
Banksters's picture

NBC's lead headline is on a hoax perpetrated on a football player.

 

So, when do we go back to IRAN IRAN IRAN, or DEBT CEILING DEBT CEILING DEBT CEILING?

 

Just wondering

Thu, 01/17/2013 - 18:00 | 3164040 busted by the b...
busted by the bailout's picture

They save those stories for the slow news days.

Thu, 01/17/2013 - 18:09 | 3164064 Rainman
Rainman's picture

I hear ya....and personally I don't give a flyin fuck about that lyin ass bicycle dude either.

Thu, 01/17/2013 - 21:11 | 3163982 Uncle Zuzu
Uncle Zuzu's picture

But how reliable are these indicators?

Thu, 01/17/2013 - 17:48 | 3163988 bullmkt
bullmkt's picture

Yesterday Durden wrote somehing about algos running out of margin,suggesting upmove is over.

This is how good commentary is.Fails to see an uptrend since his orgasmic post on Dec 28 th when he climaxed looking at thec "This is how fiscall cliff looks like" chart of ES selloff into the close.Needless to say,the ES is about 8 percent from then.Charts,Durdens,charts.Uptrend continues.

Thu, 01/17/2013 - 18:26 | 3164124 fuu
fuu's picture

I see both of you use the same spell checker though, so that's cool.

Thu, 01/17/2013 - 17:49 | 3163991 EmmittFitzhume
EmmittFitzhume's picture

Coinciding with that Fibonacci Fade.....

Thu, 01/17/2013 - 17:51 | 3163997 Super Broccoli
Super Broccoli's picture

so everything beside currencies is going up ?

i believe the word you're looking for is INFLATION

Thu, 01/17/2013 - 17:54 | 3164008 fonzannoon
fonzannoon's picture

I give up. I can't even put a guess in anymore. No matter what theories get thrown out here (no vol, retail gone, market falls after election, fed buying every asset, no short interest left...) it just goes up.

The only funny thing to me is the ten year. Ben said QEinfinity would lower rates. LIEsman backed him up saying it should be good for 15bps lower and I think it was 1.65% when they did it.

On another note I saw on a bloomberg headline that the NJ pension fund was up 13% last year. That probably seriously helped their broken ass unfunded models....so I am pretty sure I know why QE4eva is really happening.

Thu, 01/17/2013 - 17:59 | 3164027 magpie
magpie's picture

When rates go up, they will start monetizing the short end.

Thu, 01/17/2013 - 18:02 | 3164045 mayhem_korner
mayhem_korner's picture

 

 

It goes up because it is underwritten by the CBs ceaseless infusions of digi-bucks.  It's not that hard at all...

If you're trading it...well...best to ya.

Thu, 01/17/2013 - 18:16 | 3164089 fonzannoon
fonzannoon's picture

I thought QE = Japan = 90% drop in the market....so we just go straight up with our qe's....that's pretty cool.

Thu, 01/17/2013 - 18:22 | 3164102 eclectic syncretist
eclectic syncretist's picture

If the Tyler's are right about the CB underwriting the stock market I wonder why more companies aren't issuing stock like crazy?  Why not raise some free money while the govs throwing it away?

Thu, 01/17/2013 - 18:23 | 3164105 azzhatter
azzhatter's picture

I've been riding this thing up for a while now. I think tomorrow I will take my profits and sit on the sidelines for a while. You just can't fight the tape as much as I think it's a contrived pump job. I have been taking a little and buying 10-20 oz of silver every week. Think I'll buy a shit load tomorrow and sit back and relax

Thu, 01/17/2013 - 18:30 | 3164144 fonzannoon
fonzannoon's picture

azzhatter I hope you have made money, you are proof that at least to some extent...retail is still in there.

Thu, 01/17/2013 - 20:02 | 3164507 azzhatter
azzhatter's picture

Im not a big player but I have about 40k in profits Im gonna take tommorow. Silver eagles gettin hard to come by. I only have about 800k in savings with 350 in the market. I am pulling that tomorrow

Thu, 01/17/2013 - 18:38 | 3164160 busted by the b...
busted by the bailout's picture

I think the 10 year yield is up because "they" think the economy will improve in '13.  Not enough bad data, housing, claims, etc to indicate otherwise.  They did a good job of ignoring the Philly Fed today though. 

There just is no fear now.  Fiscal problems will be pushed into the future as always, and liquidity will continue to flow.

So until we reach the next phase of this farce, whatever that is, prices will continue to drift higher, imo, with only minor pullbacks. 

But when that next phase arrives, it will come quickly. It may be a currency panic, a sudden steep rise in oil prices, interest rates or inflation.  Whatever it is, something is going to "give" eventually, and send this economy into recession again and crash the stock market, imo. 

And at that point increasing the QE significantly is going to be really untenable. I.e, no more Fed bullets.

Thu, 01/17/2013 - 17:55 | 3164011 de3de8
de3de8's picture

Hope they can keep it propped up till I call legally pull 401/IRA.

Thu, 01/17/2013 - 17:57 | 3164020 mayhem_korner
mayhem_korner's picture

 

 

I hope you're closer to 60 than 25...

Thu, 01/17/2013 - 17:56 | 3164013 mayhem_korner
mayhem_korner's picture

 

 

It is ever more impossible for Ben to pull back the punch pool.

Sun, 01/20/2013 - 05:02 | 3170290 MeelionDollerBogus
MeelionDollerBogus's picture

You're funny.

Soon the Jack Daniels is gonna get swapped out for Peote.

Thu, 01/17/2013 - 17:59 | 3164025 busted by the b...
busted by the bailout's picture

A blow-off top?

Thu, 01/17/2013 - 18:00 | 3164033 LongSoupLine
LongSoupLine's picture

Fuck this completely corrupt and full fucking retarded "market". And a huge fuck you to CNBC, you fucking shill wall street ass sucks.

Thu, 01/17/2013 - 18:02 | 3164047 Motorhead
Motorhead's picture

Such rancor!  I miss not seeing Dick Oy Vey Bove' on CNBC talking about how solid the banks are.

Thu, 01/17/2013 - 18:00 | 3164037 Motorhead
Motorhead's picture

Charts, bitchez!

Thu, 01/17/2013 - 18:04 | 3164048 StoleYourMoney
StoleYourMoney's picture

"S&P took out recent highs amid a very large surge in average trade size - something that often marks a climax in trend"

 

Did HFTs get that memo?

Thu, 01/17/2013 - 18:25 | 3164108 azzhatter
azzhatter's picture

That surge was Bernanke spewing in LIESman's mouth

Thu, 01/17/2013 - 18:54 | 3164251 Yen Cross
Yen Cross's picture

Ditto• +1

Thu, 01/17/2013 - 18:06 | 3164059 Silver Garbage Man
Silver Garbage Man's picture

Dow priced in gold is not so good, but we won't talk about that.

Thu, 01/17/2013 - 18:12 | 3164080 Milton Waddams
Milton Waddams's picture

One thing to keep in mind - low volume advances almost always get retraced ... eventually and quite often violently.  It's pretty clear that the Fed is endeavoring to manufacture a 1999 like bubble run... or maybe that is their major concern.... unstoppable asset price inflation that requires a pin prick to terminate.  How do you ignite animal spirits while at the same time avoiding a mania?  One thing is for certain, we'll see...

Thu, 01/17/2013 - 18:14 | 3164085 pragmatic hobo
pragmatic hobo's picture

anyone notice the collapse in short interest for FB?

Sun, 01/20/2013 - 04:47 | 3170283 MeelionDollerBogus
MeelionDollerBogus's picture

Ya. I also noticed the pricing on Puts out to 2014 on FB are very much not expensive.

Thu, 01/17/2013 - 18:15 | 3164087 chump666
chump666's picture

Stops blasted, DXY sold, oil bid, HFTs gamed, long piled on as the Dow closed lower for the session.  It is the bulls breakout, but can it hold?

That is the question.

Thu, 01/17/2013 - 18:20 | 3164100 fonzannoon
fonzannoon's picture

Sure it can hold. It has held through everything everyone on here (me included) has said it cannot hold through. It can hold on as long as it takes and the suckers will come back in. Maybe they are not suckers anymore.

Ben knows ZIRP kills the pensions and insurance companies. Unless he is willing to cut those people loose he will drive this thing as high as he can to keep them afloat.

Thu, 01/17/2013 - 19:33 | 3164379 chump666
chump666's picture

We will see. I think the current rally has even rattled the bulls. Marketwatch were locking in a 1987 crash mid year (2012). Didn't show, everyone, bullish or otherwise have tried to call tops.  The only analysis that makes sense is a HFT supported market, which is forcing longs to still be held, at this point now we should see some profit taking, also the tech sector sinking should hammer the Dow industries.  Not happening. But money printing or otherwise, you gotta take some profit at some point.

So, I respect the lone trader somewhere anywhere with patience and balls of titanium, waiting to short this beast ala 2008.  Back then it was the housing bubble, now, could be something else, something worst...

Fri, 01/18/2013 - 03:17 | 3165444 SheHunter
SheHunter's picture

May be early to short. If this top heavy DOW cranks up through tommorrow watch the painful short squueeeze commence early next week. 

Thu, 01/17/2013 - 18:25 | 3164110 caimen garou
caimen garou's picture

did'nt we hit that peak around oct 2007, set up alert!

Thu, 01/17/2013 - 18:34 | 3164163 ejmoosa
ejmoosa's picture

So for alll their efforts, Intel made less profit than a year ago.  But hey, they beat estimates! 

 

On a year over year basis, corporate profits have risen 6.47%, down from 21.08% a year ago, for the companies tracked by Value Line.

 

So when they tell me things are improving I ask "How?"

Thu, 01/17/2013 - 19:02 | 3164188 ebworthen
ebworthen's picture

Robert Prechter from October of 2007 on Bloomberg: 

http://www.youtube.com/watch?v=SjS60TaD_J8&feature=player_detailpage#t=118s

Very interesting and similar charts to today; but of course "this time it's different" for the pumpers.

Things are about the same as they were then, other than $5+ Trillion of FED cotton candy spinning.

Thu, 01/17/2013 - 19:52 | 3164455 chump666
chump666's picture

That's actually a really good clip.  I know Prechter gets slammed a lot.  But his analysis back in 2007 is actually quite smart.

Thu, 01/17/2013 - 18:39 | 3164193 H E D G E H O G
H E D G E H O G's picture

fuck ALL the charts, nothing has changed for the better, nothing to see here, or there, just keep movin folks..................

Thu, 01/17/2013 - 18:43 | 3164195 Yen Cross
Yen Cross's picture

           This one way ticket is going to be goood until it isn't. We're going to wake up one morning and wish we had stocked up on ass wipes. I bought again with tight stops and closed my trades at the N.Y. cut. I noticed S_C's comment at the top of the thread and wanted to throw my laptop across the room. Lacker should be drawn and quartered!

Thu, 01/17/2013 - 18:49 | 3164233 DowTheorist
DowTheorist's picture

Today's volume flashed a warning. The market exceeded its Sep 14 highs. But volume today was lower than volume on Sep 14. Such lower, non confirming, doesn't negate in itself the ongoing primary bull market, but it is a warning sign. Maybe a secondary reaction is coming.

Furthermore, gold make a timid bullish accomplishment today by breaking above the Jan 2 highs.

 

http://www.dowtheoryinvestment.com/2013/01/dow-theory-update-for-jan-17-...

 

Thu, 01/17/2013 - 18:51 | 3164240 Everybodys All ...
Everybodys All American's picture

I get the impression if the market actually went down for 2 or 3 days Obama would summon all the banks to the oval office to get the "plan" straightened out.

Where am I wrong?

Sun, 01/20/2013 - 04:46 | 3170282 MeelionDollerBogus
MeelionDollerBogus's picture

Where you got it wrong is that Bernanke summons the banks and Obama summons YOUR WAGES.

Thu, 01/17/2013 - 19:12 | 3164309 kill switch
kill switch's picture

Fuck the DOW, it means nothing!!!!!!!

It's rigged,, can we commence with the policy of ignoring it, PLEASE!! It provides no insight to whats going on.......................................................... Oh period

 

The kill switch

Thu, 01/17/2013 - 19:45 | 3164319 Yen Cross
Yen Cross's picture

 Here's a tidbit for you :  XLF  vs  All of it  F..k Yahoo for blocking the #'s.

  This shit is beyond laughable!

Thu, 01/17/2013 - 19:34 | 3164382 orangegeek
orangegeek's picture

Dow Jones weekly - http://bullandbearmash.com/chart/dow-jones-weekly-stalled-long-term-resi...

 

Just keeps going up on Ben and Barry buying with US tax dollars.

Thu, 01/17/2013 - 19:44 | 3164417 bugs_
bugs_'s picture

and the transports are already there!  do you think people would look at me funny if I wore a DJTA 6000 hat?  dow theory guys getting their articles ready.

Thu, 01/17/2013 - 19:50 | 3164430 FreeNewEnergy
FreeNewEnergy's picture

All you need to know is Capital One (COF)down hard After Hours : 57.32  ----4.27 (6.93%) 6:28PM EST - Nasdaq Real Time Price

 

COF took on HSBC's North American credit cards - closed last year. They're probably having some issues with people just bailing on the changeover (which hasn't really happened, but they noted heavier delinquency rate.

Translation: People are busted and aren't paying their credit card bills. COF has plenty of bottom-of-barrel debt slaves.

Going only by anecdotal evidence (OK, some market, technical and economic smarts), the real economy on Main St. USA is getting hammered.

Was in a Wal-Mart today. First time in my life that there were no lines at checkout, and I had my choice of more than one (only about eight open).

This is coming really fast, it's gonna hurt and there's no escape, because it's global.

Glad I read "No Exit" when in was supposed to be studying something else in college.

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