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Where's The "Buy The Dip Mentality" Today?

Tyler Durden's picture





 

While yesterday saw the mainstream media cock-a-hoop at the fact that we pulled 'off-the-lows' with the phrase "buy the dip mentality" parrotted prayer-like every minute of the afternoon. Overnight shenanigans saw that BTFD mentality come and then quickly go and now the US market is fading fast. USDJPY has broken below 101 and US equity markets are testing below yesterday's lows... Treasury yields are now low on the week for the long-bond; gold and silver are holding up as JPY strength is weakening the USD broadly. Meanwhile, European peripheral debt is getting monkey-hammered (worst 2 days in 8 months)...

 

 

and the other major JPY carry funded idiocy - European sovereigns - are getting carried out...

 

with the worst 2 days in 8 months...

 

Perhaps this sums it all up.. (h/t @sheparillo)

 

Though Maria B's insight yesterday was invaluable...

 

"...but in my opinion, ... I would have to believe in the buy on the dip mentality for the US and Japan

...traders say if the market there opens up [which it did before collapsing!!!], it will be a clear sign that new money is once again ready to pounce, particularly given the fact that 30% of the accounts in the US are sitting in cash. That money eventually will want to go to work, and right now, there's no other game in town besides the stock market if you are looking for any kind of return or yield."

 


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Fri, 05/24/2013 - 10:21 | Link to Comment FLUSA.com
FLUSA.com's picture

"Game" is right

Fri, 05/24/2013 - 10:23 | Link to Comment insanelysane
insanelysane's picture

Short trading day today so not much time to screw around.  Thinking the algos are turned down to 2 or 3 because they are afraid the low volume will divulge their true manipulations.

Fri, 05/24/2013 - 11:07 | Link to Comment Mactheknife
Mactheknife's picture

Here's a little something to ponder....the only other two times that we had an intraday reversal of 1% at the top of the S&P was in 2000 and 2008...just sayin.

Fri, 05/24/2013 - 11:21 | Link to Comment 101 years and c...
101 years and counting's picture

2000 and 2007.....just sayin.

looks like tyler spoke too soon.  the btfd'ers will be around, until they're crushed.  dip is being bought.

Fri, 05/24/2013 - 14:42 | Link to Comment MeelionDollerBogus
Fri, 05/24/2013 - 14:41 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

However, the nonsense didn't start there ... many fake out drops before a giant rise over the typical curve. My graph of it:

http://flic.kr/p/enJ7Cs

Fri, 05/24/2013 - 10:24 | Link to Comment Acet
Acet's picture

Economic Russian Roulette.

Fri, 05/24/2013 - 10:25 | Link to Comment Stoploss
Stoploss's picture

Hit "support" today, then rally Tuesday!

 

BTFD!!

Fri, 05/24/2013 - 10:31 | Link to Comment disabledvet
disabledvet's picture

Hmmmmm. "Memorial Day." Hmmmmmm.

Fri, 05/24/2013 - 10:41 | Link to Comment Mercury
Mercury's picture

Don't overthink it.  It's the Friday before a holiday wknd so the market isn't going to close down big. End of story.  It's only 10:30.

Fri, 05/24/2013 - 10:31 | Link to Comment ebworthen
ebworthen's picture

Is Tuesday a POMO day even with the holiday?

We won't have the Monday dip 'cause markets are closed.

Fri, 05/24/2013 - 10:37 | Link to Comment GolfHatesMe
GolfHatesMe's picture

1.25-1.75B on Tuesday

Fri, 05/24/2013 - 11:12 | Link to Comment SheepDog-One
SheepDog-One's picture

The only one buying the fuckin dip ever was Bernank.

Fri, 05/24/2013 - 11:23 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

Really not sure why Stoploss got junked here.  Roughly $10 billion in POMO to work through on a short week next week, including a $5 billion day on Friday.  Yeah, it's "rigged" and "unfair", but the Fed doesn't give a fuck about fairness. 

Fri, 05/24/2013 - 10:32 | Link to Comment Miss Expectations
Miss Expectations's picture

...with 5 bullets and 1 empty chamber.

Fri, 05/24/2013 - 11:11 | Link to Comment slaughterer
slaughterer's picture

Maria B is my guru: I only trade her advice.  

Fri, 05/24/2013 - 10:21 | Link to Comment vmromk
vmromk's picture

Someone wake up FUCKHEAD Bernank to buy the market.

Fri, 05/24/2013 - 10:33 | Link to Comment disabledvet
disabledvet's picture

"It's a holiday!" Our markets are closed...

Fri, 05/24/2013 - 10:21 | Link to Comment malikai
malikai's picture

There's some dip buying going on, just not in that dogshit.

http://blog.quantsig.net/2013/05/24/btcusd/

Fri, 05/24/2013 - 10:21 | Link to Comment transaccountin
transaccountin's picture

jesus that quote by maria b just shows you how fked we are. whereas it was once housing nows its global stocks. will not end well

Fri, 05/24/2013 - 10:23 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

You're pretty much screwed once you're quickly losing your looks, and you're a complete and total dumbass.

Fri, 05/24/2013 - 10:31 | Link to Comment DeadFred
DeadFred's picture

I hope she got a good price when she sold her soul to the dark side...

Fri, 05/24/2013 - 10:45 | Link to Comment Fuh Querada
Fuh Querada's picture

voice like a circular saw and thighs like a rock crusher

Fri, 05/24/2013 - 10:55 | Link to Comment the not so migh...
the not so mighty maximiza's picture

LAUGHING MY ASS OFF AND EVERYONWE IS LOOKIGN AT ME

Fri, 05/24/2013 - 11:18 | Link to Comment BeerBrewer09
BeerBrewer09's picture

"there ish no other game in town beshides the shtock market"

Fri, 05/24/2013 - 10:46 | Link to Comment the Absurd
the Absurd's picture

It was stocks before housing - late 90s early 00s.  Now it's bonds and ultimately currencies.

During a hyperinflation, the DJIA could theoretically soar to 100,000 but be worth only 1,500 in today's terms.

Fri, 05/24/2013 - 10:21 | Link to Comment nomorebuyins
nomorebuyins's picture

Maria! You ignorant slut!

Fri, 05/24/2013 - 10:26 | Link to Comment jbvtme
jbvtme's picture

long hand cuffs

Fri, 05/24/2013 - 10:27 | Link to Comment zipit
zipit's picture

is that you, Jane?

Fri, 05/24/2013 - 10:29 | Link to Comment Al Huxley
Al Huxley's picture

Dan, its Dan, not Jane.

Fri, 05/24/2013 - 10:35 | Link to Comment Headbanger
Headbanger's picture

One of the best skits ever on SNL:

http://www.youtube.com/watch?v=k80nW6AOhTs

Fri, 05/24/2013 - 10:28 | Link to Comment Rip van Wrinkle
Rip van Wrinkle's picture

Most whores sell their bodies for money. Maria sells her mouth for money.

Fri, 05/24/2013 - 10:30 | Link to Comment Al Huxley
Al Huxley's picture

Well, in her defense, that's probably just because nobody would buy her body, so it's really her only option.

Fri, 05/24/2013 - 10:36 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Come on, the "Abby Joseph Cohen" is the hot new look.

Fri, 05/24/2013 - 11:12 | Link to Comment buzzsaw99
Fri, 05/24/2013 - 10:21 | Link to Comment Cdad
Cdad's picture

Buy on the dip mentality.

Fri, 05/24/2013 - 10:22 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Never heard of it.

Fri, 05/24/2013 - 10:22 | Link to Comment Cdad
Cdad's picture

Buy on the dip mentality.

Fri, 05/24/2013 - 10:26 | Link to Comment Schmuck Raker
Schmuck Raker's picture

Never heard of it.

Fri, 05/24/2013 - 10:32 | Link to Comment ebworthen
ebworthen's picture

Dips buy at the top mentality.

Fri, 05/24/2013 - 10:41 | Link to Comment OneTinSoldier66
OneTinSoldier66's picture

Thank you for giving me a good chuckle!

Fri, 05/24/2013 - 10:47 | Link to Comment Fuh Querada
Fuh Querada's picture

Buy on the dip mentally.

Fri, 05/24/2013 - 10:40 | Link to Comment walküre
walküre's picture

Buy now or be priced out forever

Fri, 05/24/2013 - 10:23 | Link to Comment EmileLargo
EmileLargo's picture

"No other game in town" - as Faber says, liquidate and run for cover the moment you hear that.

Fri, 05/24/2013 - 10:27 | Link to Comment Cdad
Cdad's picture

Where else you gonna put your money cash on the sidelines buy on the dip mentality stocks are cheap great bond rotation don't fight the fed.

Fri, 05/24/2013 - 10:23 | Link to Comment SillySalesmanQu...
SillySalesmanQuestion's picture

Simple, no POMO today.

Fri, 05/24/2013 - 10:48 | Link to Comment SeattleBruce
SeattleBruce's picture

In a place where there's already greatly limited/diminished returns (POMO MOMO for stocks only - the rest of the economy and the world be damned), we're now seeing the law of diminishing returns happen there too...what now Ben, Obummer?  Look at the diminishing returns on debt itself:

http://4.bp.blogspot.com/_pCDyiFUv9XU/S6UGAnsGArI/AAAAAAAAI8s/1wHV7ehjQd...(2).jpg

Fri, 05/24/2013 - 10:23 | Link to Comment gatorengineer
gatorengineer's picture

Little doubt we close less than 0.1% down to green today..... Movement as always is after the euroclose....

Fri, 05/24/2013 - 10:23 | Link to Comment q99x2
q99x2's picture

Wait for the close of the European markets. Buy about 29 minutes before.

Fri, 05/24/2013 - 10:26 | Link to Comment Cdad
Cdad's picture

Or....or wait until Netflix is up > 2% and then buy a footwear maker x 2 while shorting MBS.

Fri, 05/24/2013 - 10:50 | Link to Comment SeattleBruce
SeattleBruce's picture

Ah - we've such a great foundation for an economy!

Fri, 05/24/2013 - 10:24 | Link to Comment EmileLargo
EmileLargo's picture

The object of Bloomberg and CNBC (particularly the latter) is to pump up stocks as much as possible so that the BROKERAGE HOUSES that sponsor them make bucketloads of money.

Fri, 05/24/2013 - 10:25 | Link to Comment cloudybrain
cloudybrain's picture

investor wait when the market wreck they run

Fri, 05/24/2013 - 10:25 | Link to Comment razorthin
razorthin's picture

Jesus, let it pull back.  Even the central planner idiots know you need to reset the oscillators - though I was getting a little worried.

Fri, 05/24/2013 - 10:28 | Link to Comment ebworthen
ebworthen's picture

Bartiromo is such a banker whore.

"New money is ready to pounce."

No Maria, you mean "New money is ready to get trounced."

I'm pretty sure she would sell her Mother for Soylent Green if it meant 500+ points on the DOW.

Nowhere in her conversations or observations do ethics and morality intrude.

40%+ on the Nikkei and this is not a central banker bubble but "putting money to work"?

WTF!?!?

Go ahead folks, "put your money to work" generating bonuses for Wall Street and the banks so they can get bailed out again and get bonuses while you lose 40% when the current bubble bursts.

Fucking twat.

Fri, 05/24/2013 - 10:29 | Link to Comment pragmatic hobo
pragmatic hobo's picture

when she says new money she really means new money, hot off the press from bernanke's basement.

Fri, 05/24/2013 - 10:28 | Link to Comment pragmatic hobo
pragmatic hobo's picture

it's friday before holiday weekend ... it will come.

Fri, 05/24/2013 - 10:32 | Link to Comment Bearwagon
Bearwagon's picture

And tuesday is POMO-day!

Fri, 05/24/2013 - 10:34 | Link to Comment DeadFred
DeadFred's picture

Great time to be all cash.

Fri, 05/24/2013 - 10:43 | Link to Comment OneTinSoldier66
OneTinSoldier66's picture

What exactly is cash/money? Is it something that has a Government Stamp on it? Or is it something else?

Fri, 05/24/2013 - 10:43 | Link to Comment Meat Hammer
Meat Hammer's picture

Yep, that's what I'm afraid of, too.  On Monday while everyone is out grilling weiners (for reasons they're unsure of) a lot of bad things may be happening.

Fri, 05/24/2013 - 10:30 | Link to Comment Headbanger
Headbanger's picture

It's on its way to the Hamptons of course!

Fri, 05/24/2013 - 10:33 | Link to Comment Ness.
Ness.'s picture

No sooner than this was posted - here come the BTFDer's.

Fri, 05/24/2013 - 10:42 | Link to Comment Its Only Rock N Roll
Its Only Rock N Roll's picture

BTFDers are trying to protect yesterday's low.  If that breaks we get another 10 ES down.  What would be a real treat would be to see selling get aggressive and fill the 5/3 opening gap down to 1600/1610.  That will get everyone thinking over the weekend.

Fri, 05/24/2013 - 10:34 | Link to Comment Xanthias
Xanthias's picture

Whenever I watch Maria B., I'm reminded of a question my friend once asked a French porn actress: "What's the difference between what you do and what a streetwalker does?"  To which she answered, "50,000 francs."  I'm sure Maria is also well compensated for her expertise.  Geez, at least the porn actress isn't persuading honest folks to gamble away their retirements…

Fri, 05/24/2013 - 10:55 | Link to Comment quikwit
quikwit's picture

I don't know... in this day and age, 50000 francs is a lot of money for most people, and somebody's gotta pay for that.

Fri, 05/24/2013 - 11:57 | Link to Comment buzzsaw99
buzzsaw99's picture

what the porn actress does is honest work. maria, not so much.

Fri, 05/24/2013 - 14:06 | Link to Comment FreeNewEnergy
FreeNewEnergy's picture

No wonder Maria B. is such a darling of the financial world. In her mind one equals two.

To wit:

Maria B: "So what has changed? In a word, not much."

Chevy Chase impersonator: "Maria, you mindless, brain-dead, cock-hoarding slut, 'not much' is two words."

Emily Litella: "Never mind."

Fri, 05/24/2013 - 10:35 | Link to Comment orangegeek
orangegeek's picture

Dow Jones hourly "nothing but up" has broke trend on Wednesday.

 

http://bullandbearmash.com/chart/dow-jones-hourly-closes-channel-support...

 

Between Ben and Barry, they're going to have to buy the daily volume to keep this market going up - never say never though.

Fri, 05/24/2013 - 10:39 | Link to Comment stormsailor
stormsailor's picture

buy the dip, and get rewarded with bernanke jubucks

Fri, 05/24/2013 - 10:39 | Link to Comment Timmay
Timmay's picture

"Front Selling" into a crash.

Fri, 05/24/2013 - 10:45 | Link to Comment thismarketisrigged
thismarketisrigged's picture

i will buy the dip when the dow and s&p are at 5000 and 600 respectively.

 

until then, this man here is not putting shit into this ponzi scheme.

 

also, when all the banks need to be bailed out, let them fucking fail, they r the scum of earth anyway.

 

there is only 1 way for this to recover, and that is to crash the markets. there is no other way this can end, none whatsoever.

 

the sooner we crash, the sooner we recover.

Fri, 05/24/2013 - 10:48 | Link to Comment Meat Hammer
Meat Hammer's picture

Amen, brother.

Fri, 05/24/2013 - 10:46 | Link to Comment Meat Hammer
Meat Hammer's picture

MSM is running articles about "Doomsday investors betting on market crash."  Is this going to be the narrative?  That short-selling killed the market?  That's whay they claimed in 08 and even tried to outlaw shorting stocks...until somebody somwhere had their "thinking corrected".

Fri, 05/24/2013 - 10:47 | Link to Comment RSDallas
RSDallas's picture

Where is your patience my friend?  The PPT is still at breakfast. 

Fri, 05/24/2013 - 10:48 | Link to Comment Its Only Rock N Roll
Its Only Rock N Roll's picture

You think S&P 600 will hold?

Fri, 05/24/2013 - 10:54 | Link to Comment CDNX fan
CDNX fan's picture

Do you think Maria swallows?

Fri, 05/24/2013 - 10:55 | Link to Comment nomorebuyins
nomorebuyins's picture

There it is.

Fri, 05/24/2013 - 11:00 | Link to Comment RougeUnderwriter
RougeUnderwriter's picture

It's Friday Dude - who wants to spec out over a 3 day weekend with Europe coming apart. Tuesdays are the buy the dip days - aren't you following the numbers? 

Fri, 05/24/2013 - 11:14 | Link to Comment buzzsaw99
buzzsaw99's picture

more like squeeze the pimple until it pops mentality

Fri, 05/24/2013 - 11:57 | Link to Comment FleaMarketPete
FleaMarketPete's picture

 

Jim Cramer showed me a map yesterday to point out the U.S. does not live in Japan.  BTFD!

 

Fri, 05/24/2013 - 12:38 | Link to Comment LawsofPhysics
LawsofPhysics's picture

If by "dip" they mean S&P 600, then yes, I am standing by with dry powder.

Fri, 05/24/2013 - 14:13 | Link to Comment stlouistrader
stlouistrader's picture

As usual the market rebounds right when ZH puts this story out; almost to the tick.   God I love fading Tyler.  He, Biederman and Dr. Gloom keep giving me reason to be long.  If I even sense a hint of bullishness out of any of these guys, I am reversing course and shorting this market  

Fri, 05/24/2013 - 16:35 | Link to Comment Bay of Pigs
Bay of Pigs's picture

What "market" are you speaking of?

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