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The Week That Was: April 8th-12th 2013

Tyler Durden's picture




 

Succinctly summarizing the positive and negative news, data, and market events of the week...

Positives

  1. Hans & Franz Winklevoss own a lot of Bitcoins, this can only end well
  2. Yen continues to surge, along with the Nikkei -- Is the bottom in?
  3. Consensus is 3% YOY earnings growth in Q1 as we enter earnings season - Will financials lead the way?
  4. Goldman sees S&P at 1,900 … in 2015
  5. Obama releases 2014 budget -- Moar taxes, Moar Housing 'Recovery'
  6. S&P 500 hits new all-time nominal high
  7. Bernanke and Kuroda Capital LLC: Overweight Call on the S&P
  8. Weekly jobless claims fall
  9. Short squeeze carries RUT higher
  10. Good news: IMF model shows there is no risk anywhere in the marketplace
  11. JPMorgan beats earnings expectations (on huge loan loss release)
  12. Risk appetite return as ‘Safe-haven’ gold at 21-month low, even as volatility rises

 

Negatives

  1. Mark it zero dude: NFIB shows 0% of their members planning to hire
  2. JCP left in turmoil as CEO Ron Johnson is out
  3. Next up for the fairness doctrine: Australia now taxing retirement accounts
  4. European financials drop to 7 month lows, recouple with credit
  5. Fitch cut China's local government debt rating
  6. Slovenia may test template/non-template jawboning
  7. Meet Brian Gross, the Fed Employee who leaked the FOMC minutes -- "the one you go to when you need solid information, and fast"
  8. EU considers going after money market accounts to help fund their insolvency
  9. Japanese bond market volatility explodes
  10. Shipments of PC's worldwide collapse
  11. Spanish home prices plunge
  12. 28% of 401(k)s have loans against them
  13. Retail Sales drop most since June
  14. Consumer Confidence plunges
  15. Cyprus Central Bank implodes
  16. US drops a late tape-bomb - asking "Japan to refrain from competitive devaluation" - bad for FX carry trade and risk

 

Additional

 

(h/t @ZH_Crown)

 

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Fri, 04/12/2013 - 17:07 | 3442895 francis_sawyer
francis_sawyer's picture

The week that WASN'T... bitcoins...

Fri, 04/12/2013 - 17:13 | 3442928 draug
draug's picture

Yes seem to remember some news involving bitcoins this week .. can't quite remember what it was.

Fri, 04/12/2013 - 17:50 | 3443038 francis_sawyer
francis_sawyer's picture

howz your 'stash' Poindexter?...

~~~

It's Friday... Iz 'Jenny-O' still promising she'll be your 'date' this weekend?... or are you back to virtual 'babe-a-tars' on 3-D holograms?

Does the skateboard shop still have that sale on?... Or did you miss it because you were Lambo shopping?

Most importantly... How did you manage to escape from having been stuffed into your middle school locker?... THAT... is some important information that could be useful, someday, on the Hedge...

Fri, 04/12/2013 - 18:20 | 3443132 JoeSexPack
JoeSexPack's picture

Tulving now out of 15 silver items (26 total), up from 3 two days back. Biggest dealer in US.

http://www.tulving.com/goldbull.html

Every avalanche starts with 1 snowflake...

Fri, 04/12/2013 - 18:50 | 3443242 Quinvarius
Quinvarius's picture

There is some bad juju out there since Cyprus.  I get the sense that the bankers are just selling stuff they don't own to stay alive.  If they go under and default on paper, so what? 

Fri, 04/12/2013 - 19:04 | 3443262 JoeSexPack
JoeSexPack's picture

Then prices of physical & paper silver separate.

 

The COMEX becomes irrelavent, the Bankster Cartel is broken & silver spikes.

 

If the biggest US silver dealer is out of most items, that's a sign.

Fri, 04/12/2013 - 23:20 | 3443953 Long_Xau
Long_Xau's picture
Service Temporarily Unavailable

The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later.
Apache-AdvancedExtranetServer/1.3.33 Server at tulving.com Port 80

 

Mt.Goxed??

Fri, 04/12/2013 - 18:33 | 3443177 The Heart
The Heart's picture

Sa'more unrelated blah, blah, fear, fear, fear.:

 

Quantitative easing and low interest rates have damaging side effects, warns IMF:

http://www.thisismoney.co.uk/money/news/article-2307626/IMF-warning-bank...

Hey Freddie, what's on TV?

:D

Sat, 04/13/2013 - 00:07 | 3444025 Schmuck Raker
Schmuck Raker's picture

Simmer down Francis.

You are the last person to be criticizing others:

"[...]THAT... is some important information that could be useful, someday, on the Hedge..."

Never confuse your existence with your necessity.

Fri, 04/12/2013 - 18:20 | 3443133 wolfnipplechips
wolfnipplechips's picture

Don't forget the gold and silver carnage! Time for a few cocktails after this week.

Fri, 04/12/2013 - 17:11 | 3442919 Oldwood
Oldwood's picture

If this could be put to music it would make a great Muzak loop.

Fri, 04/12/2013 - 17:14 | 3442929 Marley
Marley's picture

Gold and Silver? Gotta give em a mention.

Fri, 04/12/2013 - 17:24 | 3442972 q99x2
q99x2's picture

Is there no country on this planet free from banker infestation. What worth are 40 freedoms without a blank spot on the map? That used to be a poster that hung in my 7th grade geography class.

What company is charging a percentage for Amazon and Ebay BitCoin purchases?

Fri, 04/12/2013 - 17:27 | 3442982 DutchR
DutchR's picture

It = called: GREED

Fri, 04/12/2013 - 17:26 | 3442975 DutchR
DutchR's picture

Spring is in the air.....

 

 

 

But it could jump anywhere...

Fri, 04/12/2013 - 17:27 | 3442987 lolmao500
lolmao500's picture

As always, silver was trashed by manipulation.

Fri, 04/12/2013 - 17:32 | 3442989 rogeliokh
rogeliokh's picture

It feels like completely drunk and loaded Boeing 787 crew board a plain

with steaming and smoking battery

(with some VIP passengers on board including Bernank and other Central Banksters)

just take off from New York for 14 hours Trans Atlantic Flight. So long idiots...

Fri, 04/12/2013 - 17:32 | 3443003 DutchR
DutchR's picture

So, what happened?

Fri, 04/12/2013 - 17:33 | 3442995 Yen Cross
Yen Cross's picture

    Anyone have the link for the Fed. 'Early Distribution Newsletter' ?

Fri, 04/12/2013 - 17:48 | 3443048 Yen Cross
Yen Cross's picture

  Well done. +1

Fri, 04/12/2013 - 17:32 | 3442999 Agent P
Agent P's picture

Positive #13: Thursday Humor Chuck Norris one liners.

Fri, 04/12/2013 - 17:40 | 3443023 rogeliokh
rogeliokh's picture

Funny thing is that $USD also in downtrend at least on H4 TF.

Fri, 04/12/2013 - 17:40 | 3443025 bonzo112358
bonzo112358's picture

So late yesterday retail started selling off.  Today retail sales come out lousy.  Is it possible someone got the memo ahead of time?

Fri, 04/12/2013 - 18:14 | 3443117 rhinoblitzing
rhinoblitzing's picture

What are the oddz?

Fri, 04/12/2013 - 17:48 | 3443033 Silverhog
Silverhog's picture

I see they pulled both Gold & Silver down at the last minute for lower handles over the weekend. That's gives the Gov news monkeys better talking points.  Not one will mention paper metals.

Fri, 04/12/2013 - 17:42 | 3443035 rogeliokh
rogeliokh's picture

You got the picture, Who is paying for that B.S. spam?

Headlines:

Stocks Jump for Week Despite Loss Fridayat The Wall Street Journal(Fri 5:29PM EDT)
[video] Gold Tumbles 4% Todayat CNBC(Fri 5:00PM EDT)
[video] Market Mystery: What Gives with Gold?at CNBC(Fri 5:00PM EDT)
GLD Crosses Critical Technical Indicatorat TheStreet(Fri 4:57PM EDT)
Funds Roundup: Gold Slumps Into Bear Marketat Barrons.com(Fri 4:53PM EDT)
US STOCKS-Wall St ends down but indexes notch sharp weekly gainsat Reuters(Fri 4:45PM EDT)
Gold Finishes at Worst Level Since July 2011at Wall St. Cheat Sheet(Fri 4:39PM EDT)
Gold at 21-month low, hits bear market territoryat MarketWatch(Fri 4:37PM EDT)
VIX - Options Volatility And Market Sonar: Friday Recapat Seeking Alpha(Fri 4:29PM EDT)
When Will The Loonie Begin Its Real 'Fall From Grace'?at Seeking Alpha(Fri 4:16PM EDT)
Mr. Market Squashes the Gold Bugsat Minyanville(Fri 4:15PM EDT)
Mr. Market Squashes the Gold BugsMinyanville(Fri 4:15PM EDT)
My Analysis Of The CNBC.com ETF Portfolioat Seeking Alpha(Fri 4:07PM EDT)
Gold Rolls Over After Breaking Key Levelat Seeking Alpha(Fri 4:01PM EDT)
[video] Commodities Next Week: Big Gold Sell Offat CNBC(Fri 4:00PM EDT)

Fri, 04/12/2013 - 18:17 | 3443123 jbvtme
jbvtme's picture

you know i had my choice of bonds, spx, dollars or gold today.  i stuck with gold.

Fri, 04/12/2013 - 18:19 | 3443131 rhinoblitzing
rhinoblitzing's picture

No mention of the Banksters gathering at the WH by his majesty's request - Anywhere! ...?

It's what's not seen...

Fri, 04/12/2013 - 19:00 | 3443255 Quinvarius
Quinvarius's picture

Something terrible is coming.

Fri, 04/12/2013 - 19:01 | 3443259 q99x2
q99x2's picture

Thar she blows. Last chance to buy BitCoin at a reasonable price. Last price:$111.30000

Fri, 04/12/2013 - 19:19 | 3443298 Aurora Ex Machina
Aurora Ex Machina's picture

It was $55 last night; is this a retraction on the last up before the dive, or something else?

 

Actually, I don't care: watching the blitzkrieg over the last few days, even utilising the Economist and so on was the entire point. Capital responds predictably.

Fri, 04/12/2013 - 19:21 | 3443294 Aurora Ex Machina
Aurora Ex Machina's picture

Something I've not seen said in the MonkeySphere (so I will) is that domestic PC sales have very little to do with the global economy or even Win 8; commentators have universally fucking jumped the shark on noticing the reasons why. The real issue is that the software is being crippled due to the next gen consoles drifting along (with attendent PR cockups, see Sony's CEO response for comedy gold) and Sandybridge i7 architecture etc only hit last year. There's no real driving force to the old model of constant upgrade, as a three year old laptop can run current games maxed out, so no-one is.

PC sales will increase once the big four games development houses know the specs they're tailoring the market to (if, and that's a big if, any of them survive; cut back has been brutal recently).

 

Put more succinctly; consoles have delayed a little too long in the cycle (for various reasons) and have hamstrung it all. No-one upgrades their desktop for Excel 2013 or Win 8 or Bing, it's a total fallacy.

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