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Bubble On The Margin

Tyler Durden's picture




 

Presented with little comment except to note, each time the NYSE member firms margin-buying has become so vociferously positive over and above the Dow, things have not turned out so well...

 

But we are sure it's different this time...

 

(h/t TJ Marta, Bloomberg via Chris C)

 

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Fri, 03/01/2013 - 14:48 | 3291105 stika
stika's picture

The next crash is closer and closer, bitchez!

Fri, 03/01/2013 - 14:52 | 3291114 Cult_of_Reason
Cult_of_Reason's picture

What do you mean there is a margin bubble?

Just a few days ago, the monetary God Bernanke said affirmatively there were no bubbles.

Fri, 03/01/2013 - 14:54 | 3291118 DJ Happy Ending
DJ Happy Ending's picture

Bubble on the margin is what my wife calls cum bubbles that pop up after a pussy dart.

Fri, 03/01/2013 - 14:55 | 3291122 JenkinsLane
JenkinsLane's picture

That's more information than I need thanks.

Fri, 03/01/2013 - 15:02 | 3291151 akarc
akarc's picture

Guess ya had to be there kind a thing

Fri, 03/01/2013 - 15:02 | 3291149 azzhatter
azzhatter's picture

probably wanna keep that between you and the wife

Fri, 03/01/2013 - 15:12 | 3291192 Jack Sheet
Jack Sheet's picture

judging by all those down votes there must be prudes swarming.

Fri, 03/01/2013 - 18:06 | 3291803 Relentless
Relentless's picture

Yup, she said that to me too

Fri, 03/01/2013 - 19:33 | 3292064 venturen
venturen's picture

No she doesn't!

Fri, 03/01/2013 - 15:34 | 3291267 rubearish10
rubearish10's picture

Your comment sounds like a pollyannaISH remark. Hopeful expectations often are disapointing. Been waiting a while myself, grrrr!

Fri, 03/01/2013 - 16:34 | 3291470 CcalSD
CcalSD's picture

Tick-tock... Bernak's clock is winding down

Fri, 03/01/2013 - 23:14 | 3292512 tarsubil
tarsubil's picture

I really feel that there will be one more crash. It will be big enough to break the system and the oligarchs will try to put everything back together the way they want. They will fail and we will be set free.

Fri, 03/01/2013 - 14:52 | 3291106 Cognitive Dissonance
Cognitive Dissonance's picture

"Now is the best time to buy a house." - Real Estate agent

"This time it's different." - Wall Street banker/broker

"The check's in the mail." - Underwater soon-to-be-foreclosed homeowner

Fri, 03/01/2013 - 14:57 | 3291127 jtz5
jtz5's picture

"Just the tip..."  - High school or college student

Fri, 03/01/2013 - 15:00 | 3291140 ParkAveFlasher
ParkAveFlasher's picture

Looks like the Jim is about to meet the Willie in the Jim Willie Death Cross.

Fri, 03/01/2013 - 15:22 | 3291232 Confundido
Confundido's picture

"Gold is in a bubble"... a financial advisor

Fri, 03/01/2013 - 15:51 | 3291312 Smuckers
Smuckers's picture

Hope you sent that check by USPS.

Fri, 03/01/2013 - 15:58 | 3291337 nightshiftsucks
nightshiftsucks's picture

I promise i wont cum in your mouth.

Fri, 03/01/2013 - 19:34 | 3292068 venturen
venturen's picture

"Deficits don't matter!" scum economist or polticians about to score a wall street advisory roll.

Fri, 03/01/2013 - 14:53 | 3291117 Cdad
Cdad's picture

That's what babies in incubators are saying.  "DUH!"  Margin debt!  And "BUY PUTS MAMMIT!"  It is hard to believe that incubator babies might have it over janitors about to be fired.   Fascinating.

Fri, 03/01/2013 - 14:55 | 3291126 Political_Savage
Political_Savage's picture

Can somebody please explain to me why I'm still paying taxes?

What would happen if a concerted effort was made and 20% of the population just opted out?

Well... besides being called a terrorist and detained on a sunny island indefinetly

Fri, 03/01/2013 - 15:01 | 3291147 insanelysane
insanelysane's picture

Didn't notice "firing IRS agents" on the endless list of cuts due to the sequester.  

We can no longer afford to guard illegals as they were set free ahead of the sequester but we can sure as hell continue to afford the guards watching over the tax payers.

Fri, 03/01/2013 - 15:04 | 3291161 akarc
akarc's picture

We will never be set free

Fri, 03/01/2013 - 15:05 | 3291166 akarc
akarc's picture

thats why we had to have a revolution. Something about taxation.......

Fri, 03/01/2013 - 15:09 | 3291181 Cognitive Dissonance
Cognitive Dissonance's picture

Actually that was the cover story.

<Still going strong centuries later I might add.>

Fri, 03/01/2013 - 15:04 | 3291158 Bizaro World
Bizaro World's picture

What would happen if 20% of the population opted out? 

Zats when we zend in da drones....

Fri, 03/01/2013 - 15:05 | 3291164 I am more equal...
I am more equal than others's picture

Hey, if the government can print money, let them print all that is needed.  Leave me the fuck alone with your confiscatory taxes. 

Fri, 03/01/2013 - 15:10 | 3291185 Cognitive Dissonance
Cognitive Dissonance's picture

So I guess you would be OK with the resulting confiscatory inflation then?

/sarc

Fri, 03/01/2013 - 15:20 | 3291225 Toolshed
Toolshed's picture

Might not be too bad if you have enough pm's. I would be thrilled to the point of delerium if I was able to stroll into the local Wells Fargo office and pay off my mortgage with a 1oz bar of gold. It could happen! Oh wait it already did in Weimar Germany.

Fri, 03/01/2013 - 19:15 | 3291992 Shigure
Shigure's picture

Better to pay off your mortgage with the inflated fiat and save the 1oz gold bar to buy a loaf of bread

Fri, 03/01/2013 - 15:52 | 3291314 I am more equal...
I am more equal than others's picture

If it causes the system to reset - Yes.  Let it begin today. 

Fri, 03/01/2013 - 18:06 | 3291801 bidaskspread
bidaskspread's picture

Q: What would happen if a concerted effort was made and 20% of the population just opted out?

A: Ben Bernanke would monetize the difference.

Fri, 03/01/2013 - 14:57 | 3291133 101 years and c...
101 years and counting's picture

"BUT, THIS TIME IS DIFFERENT!!!"

Fri, 03/01/2013 - 15:02 | 3291148 HeatMiser
HeatMiser's picture

You forgot B I T C H E Z Z Z Z Z Z Z Z Z Z.

Fri, 03/01/2013 - 16:47 | 3291527 Haager
Haager's picture

Sure it is.
But I want this f*****g bubble to pop immediately.

Fri, 03/01/2013 - 14:59 | 3291138 Bam_Man
Bam_Man's picture

It still blows my mind to see the EPIC ramp job that the onset of shadow-banking system created in 1994-1998.

Fri, 03/01/2013 - 15:02 | 3291150 fonzannoon
fonzannoon's picture

nice commodity knockdown while stawks gently float higher. it really can drive you insane. 

Fri, 03/01/2013 - 15:17 | 3291215 FoeHammer
FoeHammer's picture

Already off the deep edge, brother!

 

Mining shares have really taken a beating...but, I always come back for more. Guess I'm a glutton for punishment. Maybe I like fundamentals. Who knows?!

Fri, 03/01/2013 - 15:25 | 3291240 gjp
gjp's picture

yep, every day it seems, stocks up, bonds up, commodities down, Internet bubble bigger and stupider than ever, central banker nirvana!

uglier and uglier, this time is different only in that there will be no rescue from the next crash

so everyone's all in, and reason has left the building

I'm going insane too, fonz

Fri, 03/01/2013 - 15:40 | 3291278 Dr. Engali
Dr. Engali's picture

If you're not batshit crazy already you are a stronger man than me.

Fri, 03/01/2013 - 15:05 | 3291165 besnook
besnook's picture

to the moon.

how do you know that margin isn't on the short side?

Fri, 03/01/2013 - 15:12 | 3291193 Awakened Sheeple
Awakened Sheeple's picture

Good question.

Tyler, inquiry minds want to see charts on short interest!

Fri, 03/01/2013 - 15:13 | 3291196 PAWNMAN
PAWNMAN's picture

It's like moths to a flame. How can they possibly refuse the leverage with Big Ben's ZIRP?

Fri, 03/01/2013 - 15:15 | 3291201 PUD
PUD's picture

I DON'T SEE ANY UPPER LIMIT ON THAT GRAPH....

Fri, 03/01/2013 - 15:15 | 3291204 buzzsaw99
buzzsaw99's picture

Bubbles Bernanke loves taking warm soapy baths with W. Buffett.

Fri, 03/01/2013 - 15:20 | 3291218 css1971
css1971's picture

Wow. A dose of realism in Europe, then America opens and everything turns GRRRRREEEEEN!

There must be a serious flood of money coming over those intertubes. Someone does not want their high messed with.

Fri, 03/01/2013 - 16:12 | 3291393 Edward Fiatski
Edward Fiatski's picture

It's green on purpose - to lure dumb fucks who will be holding the bag over the weekend.

Wait till the last 10-15 minutes.

Fri, 03/01/2013 - 15:25 | 3291238 Yen Cross
Yen Cross's picture

 Didn't anyone look at the News out of China and Europe all week? I know my fellow Z/Hers do. Every damned Central bank is full tilt "put" on U.S. markets. The morning N.Y. ramps are so delusional, that I cringe everytime I fire up my trading platform. I'm going to wake up one morning and sky is going to be full of "mushroom clouds" and "unicorns".

Fri, 03/01/2013 - 15:33 | 3291250 MoneyThangs
MoneyThangs's picture

I need all the margin I can get for Obama's bargain basement prices lol

Fri, 03/01/2013 - 15:52 | 3291315 Smuckers
Smuckers's picture

Bubbles are like Ikea meatballs.  They are both bullish.

Fri, 03/01/2013 - 16:36 | 3291476 swissaustrian
swissaustrian's picture

Meanwhile managed money has a record high gold gross short position

Seems like it's time for a dow/gold spread trade.

Fri, 03/01/2013 - 17:07 | 3291613 Luffk73
Luffk73's picture

This times different.

Fri, 03/01/2013 - 18:08 | 3291797 bidaskspread
bidaskspread's picture

More Margin buying..... hmmmm looks like a bankster is increasing their hedge.

Sat, 03/02/2013 - 12:00 | 3293394 DowTheorist
DowTheorist's picture

Daily volume readings seem to confirm the margin bubble. Four volume readings suggest that the odds for a secondary reaction are increasing:

 

http://www.dowtheoryinvestment.com/2013/02/dow-theory-update-for-feb-25-...

 

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