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S&P Hits Record High On FOMC Leak

Submitted by Tyler Durden on 04/10/2013 09:40 -0400

The S&P 500 has passed its 10/11/07 high of 1576.09, by a penny (for now)...

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Wed, 04/10/2013 - 09:39 | 3430764 Stuart

Markets are a total scam, it's obvious now to even the stupid, or CNBC.

Wed, 04/10/2013 - 09:42 | 3430770 HedgeAccordingly

only a scam if one is not playing the scam.. trend is your friend

Wed, 04/10/2013 - 09:46 | 3430807 Stuart

It's corrupt state capitalism. Buy physical precious metals and hold outside the banking system is one of the better recourse options. The rigging going on now is terrible, there's no sheriff anymore.

Wed, 04/10/2013 - 09:49 | 3430831 GetZeeGold

Stawks are on autopilot......the crew has bailed out.

There's one chute left......who wants it?

Wed, 04/10/2013 - 10:00 | 3430890 El Oregonian

The smartest man on earth... Why, the Bernank of course.

Wed, 04/10/2013 - 10:02 | 3430910 Divided States ...

Theres fuckin steam coming out of the printers right now....

Wed, 04/10/2013 - 10:02 | 3430912 krispkritter

GO BERNANK YOURSELF!!!!

Wed, 04/10/2013 - 10:52 | 3431268 I am more equal...

Interesting... will the name 'bernank' become a profanity in the future?

He bernanked that girl in the ass?

My boss is a total bernank!

My wife won't bernank me anymore....

Bernank me!

what the bernanK?

who the bernank are you?

who gives a bernank?

Bernanking asshole...

Wed, 04/10/2013 - 10:04 | 3430922 augustusgloop

...indeed he is, he bought the financial system four years already, and probably one to two more.

Wed, 04/10/2013 - 10:23 | 3431062 SheepDog-One

And for what purpose? Only bought a bit of time, at best, and now we face worse than ever before.

Wed, 04/10/2013 - 09:50 | 3430836 The Tao

What "trend" are you speaking of? This isn't a "trend" this is a fraud. But that if fine, keep buying at all time highs...please...I beg you. Buy, buy, buy, and then buy somemore, I am HAPPY to sell it to you. You can only out run the fundamentals and technicals for so long. The higher you climb, the farther you're going to fall.

Buy high and sell low!

Wed, 04/10/2013 - 09:52 | 3430849 mayhem_korner

Fraud is trending up.

Wed, 04/10/2013 - 10:01 | 3430914 UpAndComing

(Stands up...claps)

Wed, 04/10/2013 - 09:51 | 3430843 gjp

It's a scam if you're playing it, too. You're just one of the scammers. And don't look now, but it's destroying the social and productive fabric of the world you depend on as much as everyone else. Still proud of yourself?

Wed, 04/10/2013 - 09:52 | 3430851 morph

Trend is your friend, then markets crash 20% in a few weeks? How is that a friend?

Wed, 04/10/2013 - 10:23 | 3431056 Joey9139122

You use the trend to see that 20% drop coming and then use that trend to see when to get back in.

Wed, 04/10/2013 - 12:31 | 3431912 SeattleBruce

Sure will be interesting to see how the US and Eurozone 'markets' handle the Weimar phase of this.

http://nowandfutures.com/weimar.html - you folks that are suggesting timing this may not be crowing so much then, especially as you sell into toilet paper dollars. Think anyone will buy those worthless stocks in gold, then?

Wed, 04/10/2013 - 10:24 | 3431061 Joey9139122

You use the trend to see that 20% drop coming and then use that trend to see when to get back in.

Wed, 04/10/2013 - 10:05 | 3430931 EscapeKey

pennies, steamroller.

Wed, 04/10/2013 - 10:08 | 3430957 DormRoom

Trend is your friend until you lose it all in a flash crash. Greenspan blew up 2 bubbles. Bernanke et al are blowing up smaller bubbles, but in aggregate are bigger than the housing bubble. Household disposable income & Business investments can not support this unsustainable phantom/zombie economy. You can't get around those two constraint lines.

Wed, 04/10/2013 - 12:32 | 3431927 SeattleBruce

"Bernanke et al are blowing up smaller bubbles" - There is a bubble building, that will burst, that even Bernanke in all his self assured smugness, will not be able to control.

Wed, 04/10/2013 - 09:56 | 3430874 spastic_colon

yes but the S&P has at least another 25-30 points left to go so it doesn't look obvious

Wed, 04/10/2013 - 10:24 | 3431065 SheepDog-One

'Look obvious' to whom, the dumpster divers?

Wed, 04/10/2013 - 10:37 | 3431129 Lucius Corneliu...

It feels like a 2007 redux!

Wed, 04/10/2013 - 10:57 | 3431308 zorba THE GREEK

It doesn't make sense to me... why would stock markets go up on news the Fed

will be removing "the punch bowl" soon? And if interest rates are going up soon,

the bond market is doomed.

Wed, 04/10/2013 - 12:34 | 3431937 SeattleBruce

From a rational market and price discovery perspective in the stock markets, does anything make sense right now?

Wed, 04/10/2013 - 09:41 | 3430766 HedgeAccordingly

BADA BING - http://www.hedgeaccording.ly/2013/04/tfp-morning-letter.html

Wed, 04/10/2013 - 09:41 | 3430780 digitlman

That link now says "

Whoops. sorry about that." What did it say??

Wed, 04/10/2013 - 09:41 | 3430773 Gief Gold Plox

That wouldn't be inflation adjusted dollars would it? Seasonaly?

Wed, 04/10/2013 - 09:43 | 3430781 slaughterer

Time to short.

Wed, 04/10/2013 - 09:44 | 3430794 fonzannoon

RIP slaughterer...

Wed, 04/10/2013 - 09:53 | 3430860 The Tao

No, no, no, and again NO! Don't you know ANYTHING?!? You're supposed to BUY at the ALL-TIME HIGHS because there is SO MUCH UPSIDE left to go! I mean, the ES is ONLY up 15+% since Nov '12, wouldn't want to miss out on that LAST 2-3% would you?!?

Wed, 04/10/2013 - 09:57 | 3430882 Bearwagon

You think the bagholders have arrived?

Wed, 04/10/2013 - 10:00 | 3430902 mayhem_korner

Look around. They're everywhere. Just waiting to have their deli number called.

Wed, 04/10/2013 - 10:08 | 3430949 EscapeKey

Most of them haven't even been born!

Wed, 04/10/2013 - 09:42 | 3430782 SheepDog-One

S&P in what, Bernank Clownbux?

Wed, 04/10/2013 - 09:44 | 3430795 OptionNinjaNYC

In other news, Slovenia's CDS Spreads are also hitting new highs. Rest In Pieces.

http://wallstreetfool.com/2013/04/10/credit-markets-update-april-10th-2013/

Wed, 04/10/2013 - 09:44 | 3430800 fuu

Getting close to parity with gold again too.

Wed, 04/10/2013 - 09:47 | 3430813 fuu

There it goes.

1573.90 < 1575.06

Wed, 04/10/2013 - 09:50 | 3430835 Sudden Debt

I think it only matters to DOW parity.

Wed, 04/10/2013 - 10:10 | 3430881 fuu

<--- S&P > Gold at close

<-- Gold > S&P at close

Wed, 04/10/2013 - 09:46 | 3430812 Dr. Engali

Ah I did what all the market gurus said and remained invested for the long haul. Finally after 6 years I made a penny. Who said investing wasn't lucrative?

Wed, 04/10/2013 - 09:52 | 3430858 Cursive

@Dr. Engali

Don't fret, you can look forward to another two 50% drops over the next decade according to Jack Bogle. Plenty more opportunities to BTFD!

Wed, 04/10/2013 - 09:55 | 3430869 fonzannoon

Jack also said you will double your money during the same decade. Yup. He said that.

Wed, 04/10/2013 - 10:03 | 3430923 Dr. Engali

Shouldn't he be put out to pasture? He has been all over the board, I don't think he knows what he believes.

Wed, 04/10/2013 - 10:05 | 3430929 Divided States ...

Dont think Geezer Bogle will be around to witness that, he looks like hes gonna break 100 soon.

Wed, 04/10/2013 - 10:13 | 3430986 Bearwagon

I have not nearly your financial knowledge, but I know a very simple method to check upon offers like that: If you get such a proposal, take an eggtimer and turn it to three minutes. This should be enough time to tell you, how this revenue shall be generated, in a way you understand. If the time is up, and you did not fully comprehend, how your profit is to be made, take your timer and leave, it was just a try to bamboozle you. Don't know, if that works in financials, but in real life it does.

Wed, 04/10/2013 - 10:03 | 3430916 The Tao

I love Ole' Man Jack Bogel, but I think he's going soft in the head. Let me get this straight. NOW, at all time highs is a GOOD TIME to buy, even though he himself is prediciting that there will be two 25-50% sell-offs over the next decade? Really Jack? If you're so sure that these sell-offs are coming, why not wait until at least ONE has come to pass before you buy and hold?!? If you did that, and the sell-offs happen, you actually GAIN that percentage by not losing it. WTF?!?

Wed, 04/10/2013 - 10:09 | 3430963 thewhigs

Would that be in real terms or nominal terms? Don't forget, thanks to the Bernankster, the U.S. Dollar has lost some serious value.

Wed, 04/10/2013 - 09:49 | 3430823 Confundido

Can you feel the 10am smack down on gold knocking at the door? Or did it also (like the Fed FOMC release) show up early this morning, on the $1,573/oz move?

Wed, 04/10/2013 - 09:48 | 3430829 Sudden Debt

WAW!!! THE REPORT MUST SHOW HOW THE ECONOMY GREW ANOTHER 100% LAST MONTH!!

LET'S GET ANOTHER LOAN TO BUY MORE STOCKS!!

Wed, 04/10/2013 - 09:50 | 3430839 Silver Garbage Man

Assume everything is rigged.
Buy the phyzz.
Sleep easy.

Wed, 04/10/2013 - 09:54 | 3430861 hardcleareye

But the phyzz are rigged too....

Wed, 04/10/2013 - 09:56 | 3430875 mayhem_korner

My phyzz aren't rigged. Although, the places where they are stored are. :D

Wed, 04/10/2013 - 10:12 | 3430876 GetZeeGold

But the phyzz are rigged too....

Only on paper....and you shouldn't be holding that crap anyway.

Wed, 04/10/2013 - 09:51 | 3430847 HD

Clusterfuck Countdown Clock: Market implosion in T-minus....

Wed, 04/10/2013 - 09:52 | 3430856 ApollyonDestroy

..one day sooner!

Wed, 04/10/2013 - 09:58 | 3430883 HD

Don't fear the reaper...

Wed, 04/10/2013 - 10:11 | 3430984 forwardho

Very profound. +1

Wed, 04/10/2013 - 09:53 | 3430850 Sudden Debt

SPAIN JUST ISSUED A ALARM OVER IT'S BANKS!!!

....

BANKIA BANKIA BANKIA BANKIA BANKIA BANKIA BANKIA BANKIA BANKIA

BANKIA BANKIA BANKIA if only we knew which bank..BANKIA BANKIA BANKIA

BANKIA BANKIA BANKIA BANKIA BANKIA BANKIA BANKIA BANKIA BANKIA

Wed, 04/10/2013 - 09:57 | 3430887 hardcleareye

SD is this what you are talkin about? Give us a link man...

http://www.irishtimes.com/business/economy/europe/slovenia-and-spain-mus...

Wed, 04/10/2013 - 10:50 | 3431240 Randall Cabot

That explains why the Spain IBEX is up 4%!

Wed, 04/10/2013 - 09:58 | 3430866 thismarketisrigged

i really hope we get to see the day that bernanke, blankfein, dimon, and all other wall st fucks are handcuffed on national tv for this fucking crime. its so absurd how these men are allowed to get away with such a fraud like this for so long.

madoff gets arrested but these fuckers dont? makes no fucking sense whatsoever.

i mean who the fuck would buy stocks at these fucking levels? even though the retail investor is called the ''dumb money'', i dont even think they r dumb enough to buy stocks at these inflated levels.

imagine u r at a casino and u r up a few thousand dollars from a very small investment, are you not going to take some profits off the table at least, or are you going to continue to gamble without taking anything off the table? im just amazed, i really am, how something so blatantly fraudulent is allowed to continue to take place with nothing being done about it.

Wed, 04/10/2013 - 09:59 | 3430892 mayhem_korner

Agree, but who would handcuff them? One of the root problems is abandonment of the rule of law.

Wed, 04/10/2013 - 10:11 | 3430972 forwardho

Last year more than 1400 "new" billionaires created out of this rig job.

Lots of motivation to keep it going.

Its like knowing the lotto numbers for tomorrow each and every day.

The best part? they can't stop... or all falls down.

Wed, 04/10/2013 - 09:57 | 3430877 orangegeek

Next target for SP500 daily is near 1600.

http://bullandbearmash.com/chart/sp500-daily-heads-higher-record-volume/

Europe was up over 1% this morning - 50% youth unemployment must be bullish.

Wed, 04/10/2013 - 09:59 | 3430898 slaughterer

S&P 500 is finally higher than GOLD priced in dollars.

Wed, 04/10/2013 - 10:01 | 3430911 mayhem_korner

It's higher than GLD, but not yet higher than gold.

Wed, 04/10/2013 - 10:12 | 3430985 HpDeskjet

Maybe you can sell some of your gold at a price higher than GLD, buy some GLD and do the opposite when GLD > gold....

Wed, 04/10/2013 - 10:01 | 3430906 madbraz

Where's the sheriff to stop these gangsters? The sheriff is one of the gangsters...

Wed, 04/10/2013 - 10:04 | 3430925 mdtrader

How on earth is it 1577 after so much bad data. It's getting like Zimbabwe.

Wed, 04/10/2013 - 10:05 | 3430933 Clowns on Acid

BitCoin, the Nikkei, the S&P, .... I guess its all the same. .... the outright immorality of the Fed and the ECB is truly astonishing.

Obama hosting his Blues concert in the WH (on taxpayers dime) then releases an absolutely insane "Budget".

Hey Ben...can you see what you have done...? Oh yeh Dimon is on line 1.

Wed, 04/10/2013 - 10:16 | 3430987 mdtrader

40 points added to the S&P from Friday's NFP low based on absolutely nothing! Because 88,000 jobs, 48.7 million people on foodstamps and 1979 workforce particpation rates are all good!

Wed, 04/10/2013 - 10:19 | 3431030 hardcleareye

It is beyond nothing it is neg indictors... wtf..

Markit US PMI Miss
ISM Manufacturing Miss
ISM New York Miss
Vehicle Sales Miss
ADP Employment Miss
ISM Services Miss
Challenger Job Cuts Miss
Initial Claims Miss
Trade Balance Beat
Non-Farm Payrolls Miss
Hourly Earnings Miss
NFIB Small Business Miss
Wholesale Inventories Miss

http://www.zerohedge.com/news/2013-04-09/dow-jones-new-all-time-highs-he...

Wed, 04/10/2013 - 10:34 | 3431109 Lucius Corneliu...

Bankster Bonuses Hit
Congressional Re-election rates Hit
Revolving door quotas Hit
Public Serpent Pensions Hit

Wed, 04/10/2013 - 10:52 | 3431265 fuu

Almost 13 points today on news that the Fed might slow the QEasing this year.

Wed, 04/10/2013 - 10:22 | 3431019 CharlesBronson

Great Cartoon of the upcoming soft landing....

[IMG]http://i623.photobucket.com/albums/tt319/1M_GHOST/FINAL-APPROACH_zpseb81...[/IMG]

Wed, 04/10/2013 - 10:40 | 3431161 Burt Gummer

Bullish.

http://www.youtube.com/watch?v=DlJEX04wG_0

Wed, 04/10/2013 - 11:55 | 3431697 MFLTucson

Folks, this is a fucking disgrace what this son of a bitch has done to the economy, all assett classes and the future our children will never have.

Wed, 04/10/2013 - 12:04 | 3431761 1eyedman

can you say climax? banks on friday will have to report that their mbs certificates are transforming into shares of spy and are marking it to market. anything short of that will be , well, anti-climatic

S&P Hits Record High On FOMC Leak

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