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Market Update: Taper 'On' And 'Off' Everywhere
While the dollar is pricing in the Taper, stocks are already looking beyond this transitory event, and in line with what happened after the end of QE1, QE2, Operation Twist, and QE3, has started pricing in the 'Untaper'. As an aside, we also we had a monster $5.016 billion POMO today... Though frankly, one glance at the charts below and it is pretty clear what is really driving today's action in stocks - cough JPY cough...
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First bitchez
Are people too dumb to realize that rising rates is good for gold ?
When the Fed raised rates from 2004 to 2006 back to 6%, gold went decisively up. It takes persistent positive real rates to get gold to go down.
Intraday ES is unexpectedly choppy for a gigantor POMO EOM day like today.
Certain stocks are beign voted on: AMZN, AAPL, NFLX all have voters clearly, with all 3 on verge of a break out if the whole thing does not come unglued.
Indeed. If today is anything like 5/17 (big pomo, friday) we will have a flat market until 1:45ish. My crystal balls says long 166 calls or YM if it pleases you.
My money is still in, pending new schedule, we will likely see a break-out.
oops.
"nice" call there. You buy tops often?
"high rates will pull gold from the earth".... If you plot gold vs ffr, you will see since 2007, a divergence from this philosophy. This implies the FED has lost control. Are you seeing something different?
Another 24 hour round trip for Gold. Pathetic.
Mmmm, it's coming, one little short stop pop away.
Hai.
Looking at all those charts, something happened just after 3:00 hours this morning across all of them...
About 3:15...
The middle of nowhere takedown...so that they could gas it up again this morning while trolling for dumb money in the US market session.
It is too early to read alot. The owl outside my windo is still hooting. Liked the graphs.
I think there is a market for BitCoin now that Central Criminal Bankers have moved to corner the money laundering markets.
BitCoin needs to set its price by protocol and not exchanges.
and it is pretty clear what is really driving today's action in GOLD
cough JPY cough
No Sign Of A Bottom For Gold
http://chartistfriendfrompittsburgh.blogspot.com/2013/05/no-sign-of-bott...
*paper gold
Do you really think that you will be able to get physical for $600 an oz ?
Funny how everyone is fixated on the USD price of gold only like usual
Exactly, get it back down to $300 an ounce and I might start buying and taking delivery again. Will any be available?
Well, they tried a taper, or at least investigating the possibility of thinking about the consideration of a taper and it clearly didn't work so it's back to the printing presses.
That move on the USD/JPY...highly...what's the word...unlikely. Just from your typical candle point of view. Clearly...someone is gassing that thing to get the short bus algo's to take them out of long positions.
Your earlier update from Nanex on the contract buyzapalooza is key here, methinks.
As always...thank you Ben Bernanke for bailing out all of these banks that have turned our markets into a giant pachinko machine. Really appreciate it, sir.
yeah, fuk the bernank and his three card monte shakedown
tapered turds
Remember when the new normal used to be considered shock and awe.
Dumped 100% of bonds out of my 401k. Am now 30% stock, 70% cash.
My SPY options were a roller coaster today but I am up. Crystal ball says flat market until 1:30ish rampola. Bought some 166 calls @ 0.14.
Nice, out of money short term calls at the top because they're cheap. All you need to do to make 4 mistakes is get dinged and sell them instead of letting them expire worthless.
Taper vs Tepper.
Taper...the economy is getting better and stocks go up.
Tepper...either the FED cranks $$$ and the market goes up, or the economy is improving and the market goes up. Goldilocks for stocks.
I like online beleggen, and all this volatility is just what we need!!
Dow now 70 in the red but the always late in the day (especially $5 billion worth) pomo pound round will be enough (with the help of a little fairy dust from Liberty Street) to turn all the indexes green by 4 (and by GOD!). Stay n May n get Pay!