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 | 3267402 ekm
ekm's picture

German confidence my ass.

Merkel is screwing the numbers like Obama.

Fri, 02/22/2013 - 13:38 | 3267403 The Juggernaut
The Juggernaut's picture

Rustle League hacked Anonymous:

Fri, 02/22/2013 - 13:41 | 3267418 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 | 3267428 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 | 3267442 Temporalist
Temporalist's picture

You might want to look into getting the internet.

Fri, 02/22/2013 - 13:51 | 3267447 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 | 3267630 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 | 3267523 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 | 3267478 Groundhog Day
Groundhog Day's picture

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

Fri, 02/22/2013 - 13:39 | 3267409 Cursive
Cursive's picture

Tylers, you looking for an MBA in Tahiti?

Fri, 02/22/2013 - 13:46 | 3267417 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 | 3267423 Jason T
Jason T's picture


Fri, 02/22/2013 - 13:44 | 3267427 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 | 3267430 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 | 3267435 Temporalist
Temporalist's picture

The next NYT headline will be:

Everything's Comin' Up Milhouse!

Fri, 02/22/2013 - 13:56 | 3267460 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 | 3267439 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 | 3267444 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 | 3267459 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 | 3267450 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 | 3267461 SDRII
SDRII's picture

2 words: german elections

Fri, 02/22/2013 - 13:56 | 3267464 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 | 3267466 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 | 3267479 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 | 3267504 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 | 3267509 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 | 3267525 Pretorian
Pretorian's picture

LOL propaganda zionist caught in act.

Fri, 02/22/2013 - 14:23 | 3267535 mdtrader
mdtrader's picture

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

Fri, 02/22/2013 - 14:32 | 3267559 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 | 3267579 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 | 3267599 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 | 3267631 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 | 3267661 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 | 3267671 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 | 3267721 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 | 3267727 Klazy Plick
Klazy Plick's picture

Is it too early for flapjacks?

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