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It's Going To Be A Long Night (With Updates)
As liquidity started to come back into FX markets this evening, it is very clear that humans and algos are reacting to every headline, rumor, and bloviation from Europe. In the last two hours, as this chart of EURUSD shows, while the range is small, the reactions are telling. It does appear from the EUR ramps that no-news-is-good-news for now - though evidently, the facts behind that 'no news' paint a different picture. As S&P 500 futures just opened, so EURJPY was ramped 70 pips to hold the only policy tool the Fed has left at unch (for now).
EURUSD
and the second S&P 500 futures opened (looking like they should gap down 10-15 points based on Treasury futures and FX carry), so 'they' ramp EURJPY 70 pips to save the day...
As ES, FX, and Bonds remain divergent... (the chart above is shown in the blue oval below!!)
UPDATE: S&P 500 Futures ramped to take out Friday's stops...
Charts: Bloomberg
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Long week td :)
Cyprus president offered to resign while in the EU, IMF meeting, which makes one ask, who's his boss?
http://www.guardian.co.uk/business/2013/mar/24/eurozone-crisis-cyprus-ba...
I'll be up late tonight and up early tomorrow to watch the action!
EDIT:
Drudge has lots of headlines about the Middle East now: http://drudgereport.com/
get a life...
:)
@DCRB
~~~
I like you... But 'up all night'..."... C'Mon man!
Have no fear! I will be in bed by 2:00 AM or so...
Even my rhetoric can go a little overboard, not enough grease?
GEEZ IF I'M NOT IN BED BY MIDNIGHT I GO HOME..........
Haven't we been through the same sh*t last weekend? When TF will this end, if ever?
My thanks to the Durdens for their work this day. Pathetically small donation is coming.
Whatever happened to Marla?
finem respice | reflections on consequences (intended and otherwise)
What's the latest on the rumor that Assad might be dead?
Here are the HOTLINKS:
~~~
binladen.com
chavez.com
generalissimofranciscofranco.com
rasputin.com
http://israelmatzav.blogspot.ca/2013/03/breaking-assad-shot-dead-by-body...
Assad shot by bodyguard?
no bias there.
LMAO.. and how convenient, he was killed by imadinnerjacket.. You can't make this shit up.. Ohh wait.. yes you can.. Nevermind
Al-Khateeb, leader of FSA resigned. So some serious noise has to be made to push this to the background.
Bury your PMs and then sit down and read Charles Dickens to see what life will be like in a few years.
This isn't good, I don't see anything positive coming out of this.
Same link as above.
And a small homemade bomb has gone off at a local Bank of Cyprus branch.
I am long Ben Bernanke's big gay bear vibe.
..
There you go....Here's your deal! - #cyprus eurogroup supposed to be starting soon. suggests herman's cut the deal. talk of 40% haircut for bank of cyprus. it has €28bn savings
http://www.guardian.co.uk/business/2013/mar/24/eurozone-crisis-cyprus-ba...
11:22 GMT
New highs tomorrow
It's all Bullshit!
Shit just got real as a bomb exploded at a Cyprus bank.......
.....Spiderman nowhere to be seen
http://www.youtube.com/watch?v=7WvVCqW-nVA
Don't panic - simple cosmetic operation. The front-office image was no longer reflecting the back-office reality, so they just made some readjustments to make it all look a little bit more consistent.
Bullish!
Nah, it's just bullshit. Like every "market" reaction since 2009.
Yep. A fool's game.
Can you say 1600.... This week
Yup, if Wily Coyote can hover in mid air, there's no reason why the Euro can't do the same.
Arrows!
We need a drinking game of sorts for nights like these.
Drink on "bomb". We'd all be too drunk too fast on "gold" or "Germany" or "deposits" or "run".
Bomb will get us pleasantly lit.
I find your lack of faith in bombs disturbing.
My brackets are blown, might as well watch the banking system implode.
Go Florida Gulf Coast U!
the clown is spewing his weekend alcohol
That looks like my EKG when I read the Swimsuit edition of what's that rag called....
A great clusterfuck..Am sure. Bring out the lollipops
When did the breakup of the Euro Zone become inevitable?
From the day it was formed.
I thought someone would say that, and it's not entirely untrue. But I'm wondering what event has really sealed its fate. You will recall that, initially, the euro appreciated and surpassed parity with the dollar. Those were the gravy days. What event really changed that? Was it the 2008 financial crisis?
Lisbon Treaty turned EU into EUSSR.
That was the big event in 2009 and hardly anyone noticed!
http://www.civitas.org.uk/eufacts/FSTREAT/TR6.htm
Interesting. Makes the various crises in Europe look even more intractable.
Europe is right next to the middle east so "intractable problems" come with the territory.
They succeeded in yoking together an ox and a donkey, which never works as it puts too much strain on the donkey.
Do not plant two kinds of seed in your vineyard. It defiles the fruit.
It's truly amazing how many lessons we continually need to relearn.
Revealed, the secret plan to airlift stranded Britons from Cyprus: Military to rescue up to 60,000 expats as island faces financial meltdown
http://www.dailymail.co.uk/news/article-2298236/Cyprus-crisis-Military-r...
Thanks for the article post.
Lesley, who runs an animal sanctuary in the mountains above Limassol, is down to her last 64 euros. Before the crisis, many of her 15 dogs and 20 cats were sponsored – 20 euros a month each – and that, supplemented by cleaning work, was her chief source of income.
‘It’s drying up because people haven’t now got the money to sponsor animals. Who can blame them?
At the moment I’ve got 50 euros in my purse and just 14 in the bank and that, sadly, is it,’ she said.
‘I am worried about feeding the animals. As it is, some of the dogs are, like me, living on pasta.’
Whatever the outcome of rescue talks, the crisis has already dealt an irreparable blow to Lesley’s livelihood – and that of many other Britons in Cyprus. Some expressed fears yesterday that they are days away from closing their businesses.
Central planning strikes again. Stupid lying cocksucking fuckfaces Troika.
Sorry to report that the dogs may soon be dining on Lesley. Good thing she's not keeping cats. They don't even have to be hungry. At least a dog has some self respect.
I think the dogs might soon be dining on Lesley. And the people might soon be dining on the dogs. And then on the bankers.
read the comments...second most popular being "this stuff is all bullshit" but i'm agreeing with you ziggy. i think this one might be the proverbial "straw that breaks the camel's back." i'll be watching dollar yen...as in "dollar get's whacked yen surges." in my view that's the cue that "the euro is done." TOTAL chaos in Europe if that's the case. Borders will have to be closed, checkpoints set up...Germany is the only country with a draft, but France, Britain and Sweden have bad ass military's. Will there be a draft in the USA? We shall see...
A deal will be struck. Benny is probably on the phone this minute with the leaders of the European Central Bank. new highs tomorrow...It's all Bullshit!
Indeed everybody knows a deal will be struck, that's why markets were ho-hum about it all last week and why futures are still flat even after 2 additional days of negotiating.
Every time the last several years the market had plunged on fiscal cliffs, government shutdowns, eurozone fears, Greece, the market has come roaring back. We have all the same string of macro-disasters this year but the market has shrugged them all off. A year ago we'd be down 10% by now with the barrage of negative news and crises hitting week after week. But not now. The sheeple have been conditioned.
Nothing can bring this market down. Nothing short of total catastrophe, like the Fed hinting they might end liquitidy injections.
really? "nothing"? what if the market just "goes down anyways" dipshit.
lehman is contained
2008 crisis never ended-they just threw up some new drywall to hide the rot
Yeah, and I read the same sought of comments in 2008. Because everyone saw that one coming too right? If you believe that sought of BS then you should be ass deep in the shit that MSM shovels you daily. Its the lack of faith that will destroy the shitshow this time around. No amount of printing can get you out of that sough of hole.
It's been a long year so far so a night is no big deal.
Computers screwing with each other. Real humans will sell tomorrow at the open if there isn't a deal. Fear over greed.
Quick! Someone wake Tom Petty and have him write a song imploring peace in Cyprus!
not Tom, but; "Don't come around here no more, mutti, don't come around here no more, nein. No more of your eurowhores, don't come around here no more.
Pay it up, you don't get any longer, Cough it up,
Shutthefuckup, whatever your looking for, don't come round here any more
Screw Petty! Someone get Slayer to write a song - this is their territory, the beginning of the end.
FX market is pointing bullish
ECB and Fed are going all out kill the DXY longs, EUR bid as a lot are holding huge USD positions: http://link.reuters.com/cuj86t
The money printers want you all in, crushing safe havens (well done Cyprus, just vote yourself out!) so you can party with the academia lunatics.
Greetings, Chump.
I would wait to get long Euros (especially EURJPY...) at the beginning of the American session, when risk-on is the tonic of the day.
:D
Lighten up with some damn good comedy .....especially at ca. 1:50 in Part 2 :
Part 1 : Bird & Fortune - Financial crisis - Silly Money, Nov 08
http://www.youtube.com/watch?v=lWDdcD-1xoo
Part 2 : Subprime Banking Mess
http://www.youtube.com/watch?v=UC31Oudc5Bg&feature=player_embedded
1809 hrs and 1919 hrs, 4 point pumps on the es. stands out like a sore dick.
HYPERINFLATION....ACTIVATE!
CBS Market Watch is now reporting a deal with Cyprus has been struck.
It's Fox/Sky WSJ now, not CBS. Hasn't been CBS in years.
;/
Just BTFD. You'll know when to get out when the independent media begins to tweet and report of massive military movement across the US.
>CBS Market Watch is now reporting a deal with Cyprus has been struck.
Of course they are. How many times has this Sunday night scam been pulled off since 2008? I've lost count.
CBS is the black heart of Zionist MSM.
#cyprus 'herman van rompuy has brokered an agreement between cyprus and the troika' - EU source
11:35 PM - 24 Mar 13#cyprus no levies, it's a haircut, probably 40% only on bank of cyprus - EU source
11:36 PM - 24 Mar 13#cyprus popular bank being 'resolved', bank of cyprus ok - eu source. not clear what happens to popular's 9.2 bn liquidity loans
11:37 PM - 24 Mar 1311.45pm GMT
Euro rises on deal newsNews that there might be a deal in Brussels has sent the euro rising around half a cent, up at $1.3033 against the US dollar (from $1.297 a few minutes earlier).
It's now a long nite if you were betting on armageddon
You would have to have been a fool to short this market over the weekend. Really there were one of only two possible outcomes: 1) deal reached, market soars, or 2) deal not reached, market dribbles higher on deal "hopes." The market will go higher, the deal-no-deal drama only impacts when, tomorrow or Tuesday.
Has anybody not yet figured out how this works? I'm just surprised there are still suckerable shorts out there. Guess there have to be otherwise knowledgeable players wouldn't still be able to front run these moves over and over and over again.
Works until it doesn't.
Its all a market in the end. These fuckers maybe don't understand that we learn? Perv all you like but in the end?? We will fuck you.
Have fun though:)
santelli will not let this go unnoticed.
nor will the old guard himself.
A long nite....i'm already down to the last third of my bottle of Merlot and its not even 6pm....