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And... It's Green, Or Ask And Ye Shall Receive
Just after the open of stock trading today, when the evil forces of selling and shorting seemed on the verge of a momentuous victory over the heroic forces of toner and cartridge and cause a historic 0.1% crash in the S&P, we made an assessment:
Market is in desperate need of horrible Chicago PMI miss
— zerohedge (@zerohedge) April 30, 2013
Minutes later we got just that out of Chicago.
And confirming that the "market" has become the biggest manipulated joke, inside a farce, wrapped in Kevin Henry's VWAP algo, as expected the S&P just went green.
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Think of all the babies being born in the Hamptons named Flo, and baptized in the name of St. Bernank.
The LLOYD is my shepherd; I shall not want. He maketh me to believe in green markets: He leadeth me beside the low volatility. He restoreth my 401K He leadeth me in the paths of bullishness for his name's sake. Yea, though I walk through the valley of the shadow of underemployment I will fear no evil: for He is with me; His HF prop trading and leveraged bid they comfort me. He preparest a 3% gain for me in the presence of short selling perma-bears Thou anointest my head with expensive imported oil; my SUV runneth over. Surely goodness and mercy shall follow me all the days of my life: and I will dwell in the house of the bernank forever. Amen.
Snarky Tyler is in da house!
Hey buzzsaw how'd you do that?
That's what JC Penny was after, a box within a box. See? Not so easy!!
All it took was 100 pips in the EURUSD. Shit dats nuttin'! I got that! /sarc
Looks like this afternoon we get the "push" for 1600.
HH did that, it is an image of Buzz's post.
I can't explain it, but it is what it is. S&P vs 10 Year.
http://blog.quantsig.net/2013/04/30/sp10yr/
The fuckin algos are modelled with the assumption of perpetually low rates or maybe even negative rates going forward. Much like how the model for housing prior to the housing bubble was the assumption that house prices will NEVER DROP. I mean how do you explain the fuckin Algos buying left right and centre with every company's shit earnings report , each debt issuance or stock buybacks....and they are doing it for the big cap liquid names. Every company is either buying back stock....like IBM or issuing debt to buy back stocks like AAPL because the low interest rates distorts everything right now because the cost of debt is cheaper and the risk has all been taking out of the markets...well its not taken out but its lurking somewhere that we dont know yet.
Wow like I said this morning when the Dow was down 77 points, that was another great buying opportunity.
The peeps who live the Hamptons don't baptize. Your confused .
"...peeps who live the Hamptons don't baptize."
Exactly. They abort. Then they load up on fetus burgers & wash it all down with fermented horse piss.
You are wrong, they baptize unholy children to the god of fiat in a pentagram drawn with fake tanning lotion and Bollingers, and submerge their brood into a vile solution of the blood of savers, depositors and pensioners medication.
As i walk througth the Valley of flash crashes I fear no losses, for I bath in the glory of the algo.
with my Bernake faced sheld in hand, i shall Attack all losses with my FRN sword. All i must do is ask, and he will provide
They know who their "god" is. The one that makes claims on physical assets of real value with credit created out of thin air, all with barely lifting a finger. Now back to work, debt slaves. 85 billion per month, indefinitely...
"Thou anointest my head with expensive imported oil..."
Yeah, pretty sure that's not 'oil' he's anointing you with. But it's all protein, right?
"I've been down up so long it looks like up down to me." - A very tired market
The Bernank is getting all the cover he needs to print moar.
Help us Kevin Henry... You're our only hope.
Thinking of that ... a near earth orbitting deathstar would send the dow atleast north of 36,000. Paging dr. Krugman
please, MOAR ZH market manipulation!
Only thing that could stop this market is if there is a blackout in lower Manhattan and the generator at 33 Liberty fails.
Remember GS building being the only light in town after storm sandy ... there back ups have back ups
And if the back-up back-ups fail, they probably have a small army of Chinese slave children on treadmills.
Well, it really isn't that far from Chinatown. Nice hypothesis.
Anus horribilis.
But, but.... I'm making over 1,700 times as much as my employees and my friends the life guards in San Diego who are also in the top 5% of earners have no other place to put our money. :(
Maybe if Obamacare charges more I will invest into something else, like offshore drug shipments to the USA. :)
Stocks are green. Gold and silver are red - it is a perfect world for Bernanke.
I see stocks are green,
Bonds are too,
Gold and silver red,
MOAR printing will do,
and I think to myself what a Beranked up world!
Let's make it into a proper limmerick, shall we?
I see stocks of green
and bonds to the upside they lean
Gold and silver are red
more printing is just ahead
And I say to myself, it's Bernanke's dream
It was more a song parady, but I like your style kid.
I have stopped even keeping track of the markets, save for the occasional purge.
No reason. We know what they are gonna do.
The "markets" are now one giant Baby Ruth afloat on a pool of liquidity.
pods
Yet no matter how much one flushes, that fucker just won't go down.
Until it finally does.
"Ruth! Ruth! Ruth! Baby?! Ruth!"
http://www.youtube.com/watch?v=qFUISvEZ3aw
"I want the market scrubbed, sterilized, and disinfected!"
disgusting
Nah - it's Apple announcing that in order to stop crying hedge funds who put the house on Apple and who now demand dividends or stock buy back - they need to BORROW to fund it.
So much for 'piles of cash' - or are we to asume that Apple can earn more on it's cash (legally) than it will pay in interest for a bond.
.....and they assume that there is apettite for apple bonds.
I'm assuming they hired GS to help them use this vehicle to somehow launder the offshore money back ashore. Either that, or that cash will never come back until the day the system is fully globalized.
Is there an app for that?
This is exactly the kind of stuff that made Jesse Livermore put a bullet through his head...
SP500 is up on the day - PMIs? We don't need no stinking PMIs?
It would be so freakin' cool to see the SP500 hit an all time high today - only 4 points away.
C'mon Ben, you can do it!!
This begs the question: Can a collapse of the stock market ever happen again? Is it even possible? With all the manipulation, high frequency trading, and QE money in the market, I wonder. We could very well be living in a mad max world and CNBC would still be on air bragging about DOW 18000...
Bailing out failures, not even allowing natural corrections and central bank manipulation of asset price appreciation at rates well exceeding underlying earnings growth will ensure that it does.
Optimist. Price discovery is dead, there is no "market". fruad is the status quo, possession is the law and only WWIII sorts this out now.
you misread. Will ensure that a collapse does happen again, not that it won't.
No they will either do one of two things. They will either provide an excuse for the crash like a major war, or when they are ready for a "new system" the market will simply vaporize overnight.
After Cyprus, it is possible. They screwed up. Ego does not permit fixing it. You cannot have a banking system without depositors.
Duplicate
Sorry Tyler, but Graham Summers beat you to it with his post on ZH today: The leak is out.
"There is little if any point in trying to trade this week (at least until Thursday). The Fed is notorious for leaking info to the well-connected. The most recent “accidental” sending of a report a day early is just the latest example.
In simple terms, the market will be even more of an insider’s game today and tomorrow than usual. No point trying to open a new position in that window."
Ben better deliver tomorrow.
So what are you saying, that I can dodge bullets?
No Neo, what I'm saying is that when you're ready, you won't need to.
a complete rigged manipulated fucking joke....
dont matter, the end is near....
you cats better be buying the Shiny on the 1st...
dont sleep...............
Everyone is doing the same thing at the wrong time. Money printing creates exaggerated moves, not always upwards moves. All you have to do is look at the paper gold market. Leveraged paper bets are not always long. You can give the bankers 1 trillion dollars, but it doesn't mean they won't lever up short.
This is going to be a crap storm on the way down.
Welcome back, your dreams were your ticket out.......
Welcome back to the same old place you laughed about....
Welcome back, welcome back, welcome back
Anyone who has been short this market has learned the true meaning of the phrase "Up your nose with a rubber hose."
Well Played!!!
Or "up your butt with a coconut."
pods
There is no spoon...
And if there is, it's not silver.
It works until it doesn't.
Bullshit, Bernanke is robbing from the poor to giving to the rich. This shit will never stop until the masses stand up and force a change. The people will never get justice without spilling blood in the street.
* 80's hip hop beat *
Bernanke:
"We gonna blow the roof off this MFas, monetary inflation is fo suckas
"Never run outta monetary tricks, xerox blowing bills out back the G6"
Krug:
"Yeah BOOOYYY"
MW has the Chicago PMI headline near the bottom of the page in about 4 point font...
You guys just don't get it. Bad data is actually bullish because it's all backward looking, and companies have managed to achieve strong, solid, consistent earnings even in spite of this challenging macro environment. When the virtuous cycle created by a few more years of Bernanke/Yellen's aggressive monetary policy really kicks in and the economy turns around, watch out! We are headed for a massive bull run. In the meantime I'll keep collecting my dividend checks and accumulating ownership stakes in these great companies.
NASDAQ100 just hit another 13 year high moments ago. We don't need no stinking PMIs.
Ben and Draghi will disappoint...IT IS TIME...VIX is telling all those who will listen
ps Cyprus falling in line by TWO WHOLE VOTES spiked this Puppy...i m H o
"Mission '911' Accomplished"
in twelve shorten years, we've gone from a democracy, to socialism... and onto communism-- and now unto a 'State owned enterprise called, 'The Peoples' Market of the USSA Republic' {PMUSR}
and we owe it all to-o... for doing a great job: the clinton's, the bush's, and the obama's
my heartfelt FU to ALL!!!
The BEST is yet to come...buckle-up...!!
Market's been a bad joke for looong time. Now we are seeing final crazy algo torture with only one purpose - so that banksters and their close criminal friends can unload shitload of their worthless stocks portfolios. Knowing what type of idiots operate on inside informationa and that criminal circle - we can imagine they have a lot of shit to sell to algos and fed. At the expense of US taxpayers
Financial Armageddon is bullish for the markets.
This is summed up perfectly by 77 year ol Rastafarian Lee Scratch Perry...
"a thousand thousand trillion dollars cum..."
http://www.youtube.com/watch?v=K35UHQaBtp0
Those fucking crooked hedgies are juicing it for the end-of-month window-dressed-up fucking 2 and 20 payouts. And the SEC just keeps carrying on as if it is "Business as Usual", which, of course, it is!
That pic really is disturbing. How about swapping it for some hoor with big tits?
A portion of my comment under the flash crash post applies here as well
"They allow for an increased ability to let the criminals running the fraud implement more obvious manipulations outside of flash crashes. Maybe a counter-intuitive market movement after a major piece of government information is released. These will often completely defy logic and will not be questioned by anyone without a brain."
According to the Toronto Star:
http://is.gd/Yu5hS4
Western economies are caught in a low interest rate trap that is proving a difficult problem to fix.
Rates have been so low for so long, that the trick is how to wean the patient off the cheap-money drug without causing an economic collapse. Nobody knows how to do it safely, which is why rates are bound to stay low for a while yet.
Savers, meanwhile, are being punished by pitiful rates of return that are less than inflation. It takes one dollar 37.9 years to double at a rate of 1.9 per cent, which is the best rate I could find for a one-year Guaranteed Investment Certificate (GIC) last week.
These artificially low rates have created the situation where, as of mid-March, according to Statistics Canada, we owed $165 for every $100 of disposable income. This isn’t far off where Americans were just as their housing market collapsed.
This great borrowing spree has deep roots, which is why it’s such an intractable problem. Bank of Canada Governor Mark Carney and Finance Minister Jim Flaherty go on about it, but they’ve caused it, moving in lockstep with central bankers elsewhere.
This all began on March 11, 2000 when the U.S. Nasdaq technology stock index peaked and the ‘dotcom’ bust began. Two years later, the Nasdaq had lost nearly 80 per cent of its value as internet stocks with high hopes, but no businesses disappeared. In the middle of that, on Sept. 11, 2001, came the attacks on the twin towers in New York
The George Bush administration wanted to cushion the economic impact and to keep consumers borrowing, so the U.S. Federal Reserve pushed rates down. The policy worked so well it created a super-heated housing boom. This disaster in the making galloped along until 2008, when at its last gasp, mortgages were being secured by people without jobs.
The housing collapse threatened to create a new Depression. The Fed pushed rates down again, as low as they could go. Not much more than a year later in 2009 came the European debt crisis. Countries, rather than people, had been living beyond their means for decades. With banking systems teetering, the answer was to lower rates. Even so, Portugal, Ireland, Spain, Italy, Greece and more recently Cyprus are all on life support.
The big surprise is that all the cheap money hasn’t fixed a thing. It can’t because consumers everywhere are tapped out. If not, we should have long since seen a wave of inflation leading to rising rates. That expectation saw gold, an inflation hedge, gradually rise to $1,900 (U.S.) an ounce by September, 2011. With no inflation in sight, gold is down 24 per cent from its peak.
Not much inflation is on the horizon either. In its recent quarterly report, the Bank of Canada downgraded economic growth to a meagre 1.5 per cent this year. Better times return in 2015, the bank says.
In the meantime, if you have a mortgage, you may want to lock in for five years and enjoy the security. A recent Bank of Montreal survey found that about half of first time buyers are doing that. If you owe lots of money, it’s a good time to pay it down. You can make a big dent in what you owe with just a little discipline.
Obviously, this journalist will be found hanging from a bridge tomorrow morning.
Gotta say it...love this website.
BUT... this farce is getting so incredibly stupid and depressing that I'm not sure I can stand around and wait for it to crash any longer. God only knows how long they will drag this shit out before the SHTF. I don't know if I have the stamina anymore. Thinking of turning to The Simpsons and not opening the curtains anymore. Fucking retarded.