Santelli: "In This Day And Age, Being A Trader Is Downright Impossible"

Tyler Durden's picture

With central banks sponsoring their own (and each other's) bond markets, and every financial entity owning its own and each other's bonds, Santelli pops his lid over the Pollyanna business leaders (like Bob Lutz - proclaiming GM's European business is troughing because Goldman Sachs is buying European bonds) are pointing to market-based bond prices as indicative of optimism and that economically the worst (must) be over. "Forget the wall of worry, this is the wall of weakness", Rick rants, and the interconnectedness of global markets now means if Goldman is right (as we noted yesterday) that Treasuries are 200bps rich then how does that reconcile with growth that is just bumbling along as evidenced with today's GDP prints from around the world (and surging unemployment). Just what is the Fed going to do to save the world this time? - buy $160bn more per month if we see global weakness restart? How do traders react to slowing global growth? Buy Treasuries? Indeed, the good is bad but bad is better meme seems back and being a trader is, as Rick notes, nigh on impossible.


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francis_sawyer's picture

Buy & hold [your balls to the sizzling hot ponzi grill fire]

Punct's picture

When DOW was 12k I was saying that there's no way it could go up, when 13k the same, now at 14k nothing surprises me anymore. I don't even know why we are expecting a correction when the US market is more like the Chinese market, fraudulent, misleading, and alltogether a big lie. 

MillionDollarBonus_'s picture

Santelli correct that it is very difficult to trade profitably in these markets. Spotty ZH computer nerds simply cannot handle the pressure of today's volatile markets. Trading requires an ability to think fast under pressure,and make tough decisions with real money at stake. The challenge is only maginfide when you're on the front line on a trading desk at a 'bulge bracket' investment bank. That's why these traders are selected from the best Ivy League schools in the country. Many of the selected candidates showed exception leadership skills in addition to their academic achievements, such as serving as head of the finance club or head boy at a prestigious school. Now these boys are handling some serious cash, and although the rewards are great, it ain't easy being in their shoes.

nope-1004's picture

Madoff and Raj were Ivy league?  Huh..... who knew?

"Head boy?"    LOL.  They handled serious cash though.....


francis_sawyer's picture

There are not enough jews involved in banking, trading, derivative, or otherwise capital markets... If there were [by chance] ~ I'm sure the whole system would be much more fair & honest...

fuu's picture

Go get your shine box bitch.

Lord Of Finance's picture

Give me a break MBD!!


   When guys like Bill Gross and Bass talk about the difficulty of trading in a manipulated market, then you have to take notice. Well of course you dont, because you are a troll and tool. Your act is old. Go troll another sight. 


Now go and play with some other forum and maybe call one of your "headboys" and see if they are in need of your oral services.

Say What Again's picture


You really ARE a moron.

You said; "Spotty ZH computer nerds simply cannot handle the pressure of today's volatile markets."

The markets are definitely NOT volatile.  They have been on a STRAIGHT line since November.  And if you go back farther in time over the last few years, there have been many other POMO/QE driven STRAIGHT lines lasting many months.

The markets have been unusually irrational lately, but they have NOT been volatile!

Al Gorerhythm's picture

Try a silver chart and play-trade the fundamentals. You'll go mad in a nanosec.

azzhatter's picture

I think more of them were Altar boys which explains their skills at assraping

Goldenballs's picture

Money was wasted on your eduction you cannot even f****n spell,what a jerk.

WhiteNight123129's picture

Are you long duration MDB?

I guess being long duration is like smoking weeds, stop just before the end of the joint or you will burn yourself.


chump666's picture

Calm down.  Traders?  Please.  Look, the system broke many years ago, everyone human in the markets knows this, most (bank) traders are lazy.  They just whack down longs on supported ranges as HFTs keep the thing stable -  all reliant on the doomsday machine called The Fed.  But it is a house of cards, dependent on very buggy and volatile algorithms and human greed.  Great combo.  One day the electronic market will collapse and we will go back to our open out cry days.

In the meantime my advice is to wait for extreme lows and highs and trade accordingly, study financial history particularly busts and how dumb ass goverments and money printers f*ck everything up every time (reading now about the first hyperinflation in Germany 1600's).


raki_d's picture

What Fed is clearly doing is reflating the deflating economy. They feel 'ouright deflation' compared to 'steady inflation by printing' is more damaging than the latter. Cheapening the debt with rising stock market flooding the banks with cheap money is their agenda. But whats not clear to me is how all this debt accumulated by govt & fed is bad in long run. I read articles that all this printing will be bad in long run - will blow up, sink the ship, cause a panic, meltdown etc etc. Im trying to get a definitive answer how / when: at what point will that happen ? what would be the trigger?


chubbyjjfong's picture

When people begin to lose 'faith' in the system, in paper, in the $US.  First some kind of bubble pops (stocks, student loans, property), then the BS reasons emerge from the MSM.  The bubbles that exist now, as we know, are far greater in magnitude than ever before.  They become harder and harder for MSM to explain.  The unexplainable will soon happen in an extraordinary way.  MSM will struggle to explain it, the sheeples faith will dwindle, then snowball in a panic and it will happen faster than anyone could have imagined.  

It is the lack of faith of the masses that is the trigger.

Element's picture

Problem is all of that happened back in Aug-Oct 2008, and the very same shitbags are back spoon-feeding idiots snake oil.


WARNING: This is not an exercise.


People are VERY STUPID


Never under-estimate that basic fact ... as banks and govts never do.

bmwm395's picture

haha i just tryed to flick the bug off my comp lol

twittering as stocktradr's picture

profitable traders know the market is rigged, fixed, "fraudulent, misleading, and alltogether a big lie."  that is a given.   if you do not know how to trade and make money from that kind of market do not trade.  pretty simple.   twittering as stocktradr

Cupid Stunt's picture

 "In This Day And Age, Living Under A Overpass Is Downright Impossible"

medium giraffe's picture

Has Soros not just made a packet on the ¥?

LongSoupLine's picture



Try being a fucking middle class honest fucking shlub who's just trying to put fucking food on the family table, or a kid through overfucking priced and corrupted school.


Fuck professional traders, get a real fucking job you fucking wall street assholes.

Mad Mohel's picture

This is an angry cat! But he is telling it like it is. Big ups.

Tango in the Blight's picture

He always talks like that. I wonder if he talks like that to the missus when he disagrees about her choice of dishes.

phalfa5's picture

she left years ago ...   with the neighbor...   oh  uhhh   sorry, thought u was talking to me Tango

Scalaris's picture



Try being a plain working class citizen without resorting to desperation-driven self-immolation, when you are no longer able to exchange your labour and time for a meagre stipend that once provided shelter and sustenance for your family, because your potentates decided that they did in fact deserved their excess wealth fueled by trillions of dollars of machinated, infinite and unbacked debt instruments, whose collapse would only affect the inferior and unworthy masses.

SmackDaddy's picture

It was better the first time faggot.

Scalaris's picture

You could forgo with the homoerotic prejudice son; nothing wrong with taking a penis.

Al Gorerhythm's picture

It only hurt a little, at first

Jack Burton's picture

Million Dollar Bonus was saying the same thin LongSoupLine, only he does it all with sarcasm. Clearly he is posting the line that the establishment and inside wall-streeters would take. When he says it, he is pointing out how rediculous it is!

The fact that a lot of these traders at banks and investment firms are just kids right out of college shows that the game is really a totally rigged game. These kids play their part in a rigged beforehand system. I know, because a high school and college friend of my daughters got a job at a major european bank right after graduation and he was on a trading desk then 2 years later moved on to Royal Bank of Scotland as a project managers, aged now 28! I know the kid, he is smart, but to put that kid on a trading desk in Europe after graduation from a small Mid West college in Wisconsin! You gotta be shiting me! The only way he could step onto a trading desk is if he was playing in a totally rigged system!

WarHorse's picture

As an MD & trader at a huge Eureopean bank I can assure you that you haven't a fuking clue as to what you're talking about .,,. 

fuu's picture

A huge European bank that was tits up before the Beard bailed you fucks out.

Be proud parasite.

WarHorse's picture

Traders were not the cause of the weakness in Europe you fuckwit ,...

fuu's picture

Is that the lie you tell yourself in the morning when you go out to rape grandmothers, widows, and orphans for your huge European bank?

WarHorse's picture

I guess all the sovereign loans to the PIIGS made by European banks had nothing to do with it ... FYI - traders don;t make loans

fuu's picture

While some employees of huge European banks get the ankles, and other employees of huge European banks get the wrists you just sit in the corner sniffing grannies panties.

Keep rationalizing your subsidized existence, I'm sure it helps.

WarHorse's picture

As an MD & trader at a huge Eureopean bank I can assure you that you haven't a fuking clue as to what you're talking about .,,. 

francis_sawyer's picture

go get him fuu... [Nah ~ on 2nd thought, don't waste your time on a 'disinformation' pony]

fuu's picture

Why not? Not like there is anything else interesting going on around here now that we have shifted into "teach the controversy" mode.

francis_sawyer's picture

No laws against smiling while your head is being jammed down the toilet bowl gettin' your daily swirlie...

WarHorse's picture

You're an idiot.  How do you think manufacturers, airlines, oil companies, etc hedge their commodity, interest rate and FX risk?  Get rid of all the traders, liquidity dries up, bid/ask widens and the costs are passed on to you .... what a joke ... all these huge bonuses the media highlights get paid to about .01% of Wall Street ..... you're just a resentful, bitter guy who shold have studied harder 

SmackDaddy's picture

Get the fuck out of here.  Over the long run, any short term savings you realize by managing the risks you mention are completely outweighed by the costs of such strategies.  It's a casino and the house always gets its cut.  The mfg firms are just marks for the banks... 

WarHorse's picture

You have absolutely zero concept of how companies with huge CapEx manage cashflows and secure budgets ....