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The Groundhog 'German Confidence' Day Market

Tyler Durden's picture


When in doubt how to justify the latest central-bank funded stocks ramp, take advantage of the fact that algorithmic memory is so short, the entire market can move higher on exactly the same catalyst used twice in the span of three days.

From February 19

From February 22

* * *

Something tells us there will be, out of the blue, a third, then a fourth, etc., German confidence indicator popping up next week and, it too, will surge just to "validate" the spin.

As for reality, here is what is apparently driving this surge in German confidence:

And this is what we said yesterday when we reported on the German PMI misses:

German manufacturing PMI missed expectations of a rise to 50.5 from 49.8, instead printing at 50.1, while the Services PMI outright declined from 55.7 to 54.1 (55.5 expected).  We wonder how much higher this latest economic disappointment will push German investor confidence.

Quite a bit higher as it turns out.


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Fri, 02/22/2013 - 13:38 | Link to Comment ekm
ekm's picture

German confidence my ass.

Merkel is screwing the numbers like Obama.

Fri, 02/22/2013 - 13:38 | Link to Comment The Juggernaut
The Juggernaut's picture

Rustle League hacked Anonymous:

Fri, 02/22/2013 - 13:41 | Link to Comment spastic_colon
spastic_colon's picture

they forgot to mention the rotation out of paper commodities now that germany is paid up from WWI

Fri, 02/22/2013 - 13:46 | Link to Comment whatsinaname
whatsinaname's picture

OT: what is CEF (Central Fund of Canada) ? is it comparable to the Sprott gold funds ?

Fri, 02/22/2013 - 13:51 | Link to Comment Temporalist
Temporalist's picture

You might want to look into getting the internet.

Fri, 02/22/2013 - 13:51 | Link to Comment Divided States ...
Divided States of America's picture

Wow PPT working over lunch today....guess must take advantage of the low volume so that we must close above 14000 to end the week.

Fri, 02/22/2013 - 14:51 | Link to Comment Stock Tips Inve...
Stock Tips Investment's picture

Germany has a strategy with two purposes. First, align the "bailout" of European countries to their own interests. This means that the first acting according to their own interests and not on the interests of Europe. Second, is preparing to exploit the weaknesses of the rest of Europe. Good Luck Europeans.

Fri, 02/22/2013 - 14:19 | Link to Comment Bold Eagle
Bold Eagle's picture

CEF has both gold and silver, I do not believe they have an option to redeem shares for physical like Sprott's funds. Other that that, they are very similar.

Fri, 02/22/2013 - 14:01 | Link to Comment Groundhog Day
Groundhog Day's picture

"we're not gonna live by their rules anymore"

Fri, 02/22/2013 - 13:39 | Link to Comment Cursive
Cursive's picture

Tylers, you looking for an MBA in Tahiti?

Fri, 02/22/2013 - 13:46 | Link to Comment EscapeKey
EscapeKey's picture

i suppose it makes a welcome change from the usual "equity markets rose on the back of european debt hopes"


Fri, 02/22/2013 - 13:44 | Link to Comment Jason T
Jason T's picture


Fri, 02/22/2013 - 13:44 | Link to Comment MoneyThangs
MoneyThangs's picture

German Bankstas will need to make an index that tracks the romanian horse meat market at this rate

Fri, 02/22/2013 - 13:45 | Link to Comment Dareconomics
Dareconomics's picture

The only confidence investors have is that Mario will crank up the magic money machine at the first sign of trouble. The Eurozone is slowly choking to death:

Fri, 02/22/2013 - 13:49 | Link to Comment Temporalist
Temporalist's picture

The next NYT headline will be:

Everything's Comin' Up Milhouse!

Fri, 02/22/2013 - 13:56 | Link to Comment Jayda1850
Jayda1850's picture

+1! One of my favorite Milhouse quotes. Right up there with "look Bart. ALF is back, in pog form atleast."

Fri, 02/22/2013 - 13:50 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

what a load of fucking outright fucking bullshit...

what dumb as mother fucker seeing shit like today could still believe that we have markets that they can possibly prosper from...

is it that German bullshit...or is it because every cocksucker sociopath memeber of the FOMC is out blowing smoke out of their ass to comfort the dumb ass ameircan masses...

oh, and look at the only two forms of real money today - hell the entire month...

yeah, it all makes so much fucking sense dont it????


Fri, 02/22/2013 - 13:51 | Link to Comment LongSoupLine
LongSoupLine's picture

I'm fucking confident...


Confident the fucking global MSM, Central bank, bank, EU, regulator and fucking political fucking collusion rabbit hole goes way fucking deeper than any of us fucking idiots can possibly imagine.

Fuck all those fucking disaster creating shit bathing fucking wrench chokers.  Fucking assholes.

Fri, 02/22/2013 - 14:10 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

yeah, and lets really show'em how genuine these markets r Soup...

lets take a almost 200 point loss over 2 days and erase it over the last few trading hours on a FRIDAY with no fucking news to justify....

and for kicks push the Dow above the magical 14,000 mark once again....


if a mother fucker says anything to me about the Fraud Market or Silver at the bar this afternoon im gonna bitch slap them........................ 

Fri, 02/22/2013 - 13:52 | Link to Comment thismarketisrigged
thismarketisrigged's picture

and just like that, at 1250 pm, the dow is up for the week. fucking joke.

Fri, 02/22/2013 - 13:55 | Link to Comment SDRII
SDRII's picture

2 words: german elections

Fri, 02/22/2013 - 13:56 | Link to Comment Caracalla
Caracalla's picture

Not much volume supporting today;s rally.  Once Bunga Bunga Burlesconi is announced as the winner on Monday, I bet we'll see the bears come back in force

Fri, 02/22/2013 - 13:56 | Link to Comment Tsar Pointless
Tsar Pointless's picture

This ramp-fest was an easy one to see coming.

Friday. No economic releases stateside. Friday. POMO for 30-year Treasuries. Friday.

So, enjoy yet another day of waking up to "I Got You, Babe" by Sonny and Cher.

Fri, 02/22/2013 - 14:01 | Link to Comment Temporalist
Temporalist's picture

I believe "I Got You Babe" is what the Bernankadonk sings to his pile of shiny barbarous tradition every night before bed (before curling into a fetal position and sucking his thumb while whispering to himself "tell me everything is gonna be alright momma...momma...momma").

Fri, 02/22/2013 - 14:10 | Link to Comment fonzannoon
fonzannoon's picture

I can't believe how mad people are. I just have jazz music playing in my head all day at this point. Who gives a shit?

Fri, 02/22/2013 - 14:12 | Link to Comment jubber
jubber's picture

China has the worst week in 20 months, the economic figures out of Europe were terrible again, but the Dow rose 90 ponts overnight, I think this was cordinated Central Bank intervention by the Fed & ECB buying indexs rather than the German figures?

Fri, 02/22/2013 - 14:20 | Link to Comment Pretorian
Pretorian's picture

LOL propaganda zionist caught in act.

Fri, 02/22/2013 - 14:23 | Link to Comment mdtrader
mdtrader's picture

Wait until they see Q1 earnings numbers. They won't be confident then!

Fri, 02/22/2013 - 14:32 | Link to Comment Rustysilver
Rustysilver's picture

Nothing is OT anymore. $hit is everywhere: Here you go.

"China's environment ministry appears to have acknowledged the existence of so-called "cancer villages" after years of public speculation about the impact of pollution in certain areas"

I think George Washington is under arrest else he would have post it.

Fri, 02/22/2013 - 14:36 | Link to Comment Temporalist
Temporalist's picture

I guess the exuberance from Germans doesn't translate to the same from the European Commission

Eurozone downturn and deficits to persist, Commission says

"The eurozone recession will persist into 2013, the European Commission has conceded in its latest forecast.

The eurozone economy would shrink 0.3% in 2013, the Commission said..."

Fri, 02/22/2013 - 14:42 | Link to Comment Oldwood
Oldwood's picture

its like we are trying to have a logical discussion of the plot of a Roadrunner cartoon and debating the percentages on the coyote's chances of survival. Its a cartoon and dada dada...thats all folks!

Fri, 02/22/2013 - 14:51 | Link to Comment mirac
mirac's picture

The fact that I was thinking the same thing should worry you people at ZH

Fri, 02/22/2013 - 15:00 | Link to Comment ramacers
ramacers's picture

market is still slightly less than 9/07. this after trillions out of thin air pumping?

what a fraud this whole concept is. what kind of morons are "investors"?

Fri, 02/22/2013 - 15:03 | Link to Comment Fuh Querada
Fuh Querada's picture

The DAX is on viagra and its upward thrust cannot be stopped. Leading fund managers are predicting 9000 -10000 on this index.  /sarc off

Fri, 02/22/2013 - 15:19 | Link to Comment Silver_K-9
Silver_K-9's picture

Don't Drive Angry!

We're not gonna live by their rules anymore!

Phil Connors - Meteorologist
WPBH-TV9 - Pittsburgh

Fri, 02/22/2013 - 15:21 | Link to Comment Klazy Plick
Klazy Plick's picture

Is it too early for flapjacks?

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