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Ben Speaks - Market Yawns (For Now)
UPDATE: Stocks testing lows
Out of the gate, Treasury yields dropped 4bps, Gold rallied $5, Oil popped, and Stocks leaked lower. But 30 minutes after the main-event, it seems that initial excitement has worn off. Gold has reverted (down) and Treasury yields (up) though we note that though it is marginal at best, S&P 500 futures are testing the day-session lows still (down 2-3 points). It would appear that infinity is still a big number and suggesting that they will add moar to infinity has done little to change what is priced in. The most notable change (we can see) is in JPY weakness and Oil strength so far... though stocks are leaking
JPY...
Chart: Bloomberg
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Again, did the FOMC statement hint at an expansion of the further easing program? Didn't to me. Saw the word transitory quite a bit. Market strains also appeared to "ease."
Looks like the fight over the debt ceiling and the subsequent ratings downgrade(s) may be the catalyst required to hold CTRL-P down longer.
Cntl P is losing its value. That would be the amusing result -- if they stop simply because it ceases to do anything.
Oil ends this. Nothing else.
"Some weakness, but transitory, and not permanent, economy showing signs of recovery, green shoots, employment strengthening a bit."
"Oh, and one more small detail: I'll be buying $1 Trillion in MBS over the next 12 months to keep the banks from disclosing the reality of their looming insolvency during this wonderful recovery."
- Ben Bernocchio
FED* Keep rates low as long as inflation 2.5% or less.
LOLOL!!!!
DUH.............
Well, DJIA looks like it's going "the wrong way" right now, about 45 minutes out. Diminishing returns, indeed.
all "bad" data points are "transitory" and all "good" data points are "permanent" ... same as it ever was
Bernanke knows all the right folk.
He's just another member of the Ivy League Mafia.
They all stick together.
Ben's not going any where.
http://www.angrysinner.blogspot.kr/2013/01/yesterday-i-made-egg-rolls-and-steak.html
Oh I'm sure they'll easily goal seek 14,000 by close, gotta spike that ball that's all that matters!
Plenty of BTFD's going on, otherwise......
wow, this is a major selloff for this market. dow down 30 pts, s&p down 4 pts, wow, we need more easing, things r getting out of control.
dont worry, rest assured these criminals will wipe out the losses and have 10x the gains tomm and beyond.
fuck u obama and the fed, and wall st
My God...it MUST be terrible, equities actually DOWN? Simply unacceptable!
MOMO via POMO!!!
3pm AAPL ramp in 3 minutes.
Feel free to take off your seatbelts and wander around the plane. We are going to be here for a while.
MUST................HOLD..................ES....................................1500
MANBERNKRUG!
Gold and Silver hanging in there up over 1%. Miners being sold off and now pink.
<Weak hands exit over there please.>>>>>>>
Nah look at the air come out of those metals. Gold maybe up a few bucks by close. Hopefully when Facefart misses huge the big run up in the stock AH will drag gold up another buck tomorrow.
You must be looking at a chart of RIMM by mistake.
My apologies, in between my post and your post Israel bombed someone. I should have waited 30 seconds before hitting save. I should make a comment now about the dow being down so by the time it saves the market will be up.
LOL
I think that is spelled V O L A T I L I T Y
<Or is it R O L A I D S?> :)
Pretty funny read from my neck of the woods.
http://www.newsday.com/opinion/editorial-nassau-s-miraculous-surplus-is-too-good-to-be-true-1.4530970
Even CNBC can't believe the market's tame reaction to today's GDP news.
What, you mean it was bad?
DavidC
The muppets have been trained well...even if a 9-11 happened in Manhattan today it would probably only mean markets down less than 1%.
note the price decline in Gold and Silver from highs right at the close of the fucking Crimex...typical
anyway -
"If you wish to be effective in the gold market there is a very simple way. The gold price is not attacked just for some pleasure of seeing the quote down. From simple shorts to complex 2nd and higher derivative positions it requires somebody to do something to profit on lower price. It requires you to panic to accomplish the downside among the paper gold traders. To frustrate the short do nothing at all. When the gold market rallies you can doubly frustrate the short if again at the beginning of the rally you do nothing.
You need only not to trade the paper gold market to thwart at least your contribution to panic. You need only to hold your fully paid shares in a gold or silver entity if it qualifies as sound to frustrate the short hedge fund. You can defend yourself effectively by doing absolutely nothing.
Gold will rise to $3500 and above. Make sure you are there when it happens. Simply stop quoting it because that is the temptation to trade it. If you starve the paper exchanges of paper contract trading the game ends there. If the patsies do not show up on the paper exchange to be skinned, the skinning will stop. Join gamblers anonymous if you have to. Ladies and gentleman, prepare to defend yourself by doing nothing.
You frustrate any take down if you cannot be taken down. Stop giving the paper exchange your business and the paper exchange will stop. Here is an absolute way to beat the devil by "Gold and Silver Non Violent Resistance." Then we practice "Non Cooperation" as you exit the financial system as fast as you can, adopting direct registration or certification where it still remains. Keep your bank cash not in the bank, but rather in fully paid gold coins and sell a few when you need funds. Bite the tax bullet and get out of those retirement plans which really are plans to confiscate or direct your retirement funds into instrument of confiscation and treasury bonds.
My courage comes from the founding of the 13 colonies’ independence. The pamphleteers of today are the bloggers not selling anything to their readers.
Sincerely,
Jim
http://www.jsmineset.com
Jim has been sounding a bit frantic lately. He has served as the emotional center for several years so I can't imagine what huge pressure he is under as the weak hands wail and wring their (weak) hands.
Dude, if you can't stand the heat the kitchen door is that-a-way. ----------------------->>>
You should not be buying PMs to make a profit. You should be buying PMs to preserve what wealth you currently have. If you can't sleep at night now (the volatility is only going to get worse, not better) it's time to get out.
The increasingly impatient, juvenile (if not infantile), short-term thinking of the average American (or Westerner, or human) never ceases to amaze me.
If someone loses their savings to their own impatience and lack of any sort of long-term or big-picture perspective, they have only my scorn, never my pity.
B-B-B-B-Benny and the Debts.
I hope oil goes to $125 a barrel and brings this giant Ponzi crashing down. Then we can get on with a truly sustainable rebuild.
you guys have got to see the video off the closing bell on CNBS...
Im saying loud and clear...I would like to kill Steve Liesman........
get in line
take a number
The frusterated face of a man who is PUSHIN ON A STRING. Thats it. nothin more to say
Our owners don't make much money in a slow, unidirectional market. I have to think a 1000 point drop is on the horizon.
Ever notice MillionDollarBonus never posts on ZeroHedge while Ben is live on TV?
Yes, and when I come out swinging calling Ben "Benocide" or something derogatory, he replies directly. Try it next time.
I love that millionDollarBonus guy, funniest guy on the net.
Pet peeve: spelling 'MORE' 'MOAR' in articles, where did these guys go for an education, I'm sure Moar just caught on because some moron could not spell more,,grrrrr, OK, enough for today, us old fullas, only have so much ranting in them for a day, time for a nap. .
More power to you. Buy Gold and Silver.
party like it's 1999...
with the Silver Liberation Army...
at...
www.ZIRPinUSA.com