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Wait! What? Bad Is Not Good?
While the new normal knee-jerk reaction to the dismal ISM print was the bad-is-good surge in buying, it seems reality is setting in...
not getting any help from the old-reliable FX carry trade...
Charts: Bloomberg
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Sayanora.
I was reading Daneric's this morning. Some are calling for a red close in US markets. In a few short hours we'll know for sure, but it made for an interesting read. Pesimissim is seeping in. The unthinkable is being thought - maybe Bernanke was not the savior after all.
Everyone knew this during the talks with the first QE. It's all a set up to destroy the USD....
Always a Green close on Tuesday
it's haircut time and i'm long boy's regulars.
Gravity in action
Yes, but replace it with what? A gold backed Yuan? Fine, I and many other hold yuan too. It's a fiat-backed debt-slavery world now. The new masters will not want to change that. Please, enlighten us. seems to me that being a holder of physical (since 1994) is still the best position to be in. In the meantime we all keep front running the idiocracy.
I'm glad you mentioned that. Where would one have to go in the US to exchange USD to physical Renminbi? I haven't had much luck finding this information on the Internet.
http://online.wsj.com/article/SB10001424052748704307404576080222812076888.html
Travel, but that can be expensive, google and bank accounts
Travel agency..
local international airport with flights to/from China.
Instead of dancing to their tune, it's easier to just opt out...
Gold
Silver
Bitcoin
Small amount of fiat cash under the matress
Fuck 'em
local currencies
Wow, check out the current silver chart. Epic, vicious fight underway. Perhaps this is the day that Blythe taps out?
destroy the usd and the usa
If we could just rename every day "Tuesday", we wouldn't even need an economic calendar.
I have no idea and am usually wrong, but I don't think intel will save us. I also have a feeling that the smart money is long gone, the half smart money is using any chance they can get to become long gone.
what is the alternative? It's bullish that the fed has failed because now they have to fail on a larger scale? I just can't see it. I am going to go stare at my broccoli and see if it gives me any hints.
This is why folks setting up purely for inflation (demand pull at that) are in for some choppy waters... The truth is the effect of inflation may be muted at best (and, in reality, will probably feel a lot like severe deflation... where wage decreases outpace cost of living decreases)... all while ending up with the death of the currency...
Cliff's notes: seesaw
The meatball says "more downside to come".
No worries,...the bot's are completely in control now and will reverse any drop on turnaround Tuesday tomorrow.
I love broccoli.
Smothered. In cheese.
Yes, Fonz, they [the Fed] will fail on a larger scale and POMO will increase exponentially. They have to go all in and then some before this market lands into the long-nailed clutches of the bears and the bulls now represented by your half-smart money are clawed to death before our very eyes. Once that happens its game over and the safest investments will be in physical PMs and farm land, which have been the safest bets all along. The broccoli says plant a few more vegetables and get some chicken and goats if you don't have enough land to support cattle or pigs.
You certainly paint one hell of a picture.
I don't have a lot of room for farm animals. I am spending all my waking hours trying to figure out how I can harvest solar energy when all the liberals around me start running around going bat shit crazy.
This will be death by a 1,000 papercuts, Fonz, and its not going to happen today or even sometime this week. I fully expect the Fed to continue to support an overall ramp up until, regardless of what they do, the market begins the search for full price discovery. That will be the final paper cut.
i'm watching falling yields spark the dividend trade again. This is going to be death by a thousand cuts.
Excellent analogy.
Fox business' leading article is Lockhart [president of Atlanta Fed] stating that the Fed may soon taper overall asset purchases. There is the "T" word again. They will do so because of recent improvements in the US economy. I could not make this shit up if I tried.
Cauliflower is another option Fonz. (must be steamed) I've been known to gaze at a head or two.
Re "must be steamed" -> NOT! http://nutrient.javalime.com/food.php/11135
Re "broccoli" -> http://nutrient.javalime.com/food.php/11090
this market is a joke
and the joke's on us
Er excuse me but what is this "market" of which you speak?
For now...
Looks like BTFD'ers got fucked in the drive-thru!
The whole idiotic market the laat two days is just funds shifting from equities and buying the dip in Treasuries, to increase their stock of Treasuries to sell to the Fed in yet further QE-INFINITY, which just got another extension with today's ISM into INFINITY TO THE SECOND POWER. There aresome hair-raising algo battles today, and even some micro-second flash crashes--I would be a little worried if I was an equity PM, the 50DMA on the ES is still a good 30 ES points below.
I hear ya. Money flow has had a very truncated and finite pathway. All roads lead to and from Rome, all money leads to and from the Fed.
POMO powers activate!!!!
LOL! Will be lost on the youth however. They know of no "justice" league, or justice for that matter.
the new league will be the ones on that train to jeckyll island that night.
..and no justice there just us.
That's fine. Jeckyll island is not as defensible as one might think. So long as the soiciopaths are rounded up, and we know the location, it's all good.
BennyBux touches his Schwartz Printing Press, and utters the magical incantation:
Form of "Liquidity"...
Form of "Deflationary Fighting Powers"
Form of "Wealth Effect"
Form of "Debt"
Form of "SHTF"
Form of "Time to Retire Before they Lynch Me"
Too much Polonium 210 in that QE. There's nothing like the smell of red on a Monday morning.
Can we make it 21 Tuesdays in a row?
You betcha!
What better way of making Tuesday green 21/21 than set up a low starting point. BTFD!
+1 to both of you. ;-)
S&P 1625 this morning s/b the low...we rise from here on more and more bad news.
However, if we go through 1625...look out below?
Ayyyy - Yen-pocalyse!!! Yen just hit 99!!! Recognition Ben ain't gonna taper but instead will be forced to increase QE. Dollar heading south, PM's should be getting happy.
I have 1615 and 1591 for the key reversal candle. The 1625 level is good to. I just took an older top to work from.
Remember, if you can "nail the number" you get an autographed douchebag by the CNBS all-star panel and various other complicit fraudsters... Courtesy of Squawk on the Teat.
I just roasted my monitor with tea. LMAO!
I'm only long 100 shares Fnma @ $2.50...come-on baby, daddy needs a new pair of shoes!!! BTW - immediate target if we break to downside is bout S&P 1597...air pocket from 1613 to 1597.
Everything else riding on the obliteration of the dollar in various paper/phyz silver. Today's end of "taper-gate" is long overdue. Long live recognition of QE4EVER. Que STAGFLATION in 3...2...1...
Yes, you're spot on.
LMAO!
Wait for the afternoon melt-up, I wouldn't bet against it!
UUDDLRLR - who cares
Please. Treasuries must get a strong bid;
http://www.marketwatch.com/investing/bond/10_year
2013: Reality Strikes Back (With a Vengence)
Optimist.
I'm not a pessimist, I'm an optometrist.
Dow is up 50.....settle down now.....
Intel.
One stock. desperation.
INTC - the king of cap-ex cutting to get their earnings? Not likely to be the savior.
Fonz this stock rally has strong legs.........ain't over for a while.....
I think it's already over. It's just a matter of watching those who are still in it figure it out.
You don't get your warm bowl of deflation soup until stocks give it up, and I don't get my massive inflation cheesekae dessert until you are done with your soup.
This stock rally has long legs ... and a very short skirt. ;-)
It'll end up the way non-tuesday normally ends up. probably inside a +/-10 band. Some rises and dips along the way, but that's it.
Today's market snapshot trajectory resembles the flight path of a punctured balloon.
Muppet Reflex Buying - MRB, with some help on the side.
Tomorrow's Tuesday, though.*
*Prease refer to MRB.
We'll get to 16 or even 17K by the end of the year.
2014 is when the REAL fun begins.
NASDAQ100 is falling faster. More downside before considering a trend change is required.
http://bullandbearmash.com/chart/nasdaq100-daily-closes-1-late-sell/
Turbo Tuesdays may change this.
And just like that Abenomics is out the window,and Japan is headed for another 25 years of deflation...with a pit stop at a major war along the way.
I hope this doesn't slow beer production !!
My hands are shaking, I need another beer !!!
Market action today: Disorderly clusterfuck.
Its awesome seeing misallocation of capital rapidly unwind in real time.
Time for more QE to help the TBTF banks.
Release the Kraken.
Die SPY, you utmost piece of filth :)
Wait, stocks dowwn and metals up? Hold on, I think I came in through the wrong door. Let me go out and try again.
The market appears to be reflecting anxiety over what the Fed will do next to address the weakening economy.
Damn trading algos can’t tell a bad headline that is better than the worst we expected form a good headline that is worse than the best we expected. What are we paying for this dumbass smart technology again?
Heh heh heh take that all you BTFD'ers!
Yeah, nice to see them holding a bag of crap for once, but we all JUST KNEW, DIDN'T WE (pardon my shouting), that Mr. Algo would have to try for the 20-period moving average on the 5-min chart after hitting the 2nd pivot down from the open, and SURE ENOUGH, here we are ('buy-the-new-low' bastards). Lucky for me, I'm so used to this shit, as you all no doubt are by now, that I got out of my Russell short at 11:15, preserving my gain. Yes, it's probably "bad trading" in an ideal world, but how often have we seen these little temporary stop-hunting flickers during strong moves post 10:10 evolve into complete reversals, rather than just lick the moving average before trend resumption?
Question for those more experiened daytraders than myself (only 1.5 years): after the Fed truly starts the tapering, do you think these evil, nonsensical reversals that completely go against the daily indicators on big-candle, low volume bursts will dissipate, or is this such a money maker Mr. Algo won't retire it easily? I'll attempt my own answer, if you don't mind: if we get eventually bigger volume from retail and public fund allocations away from stocks, it will overwhelm their bullshit, which has largely worked due to the lack of true selling pressure.
Ah . . . guess I was correct in closing out my short early. Mother fucking son-of-a-bitch ... All the signs were there for a long position before 2:00, but I just couldn't do it. He who invests on principle is doomed to failure in these horseshit markets, instead one needs to jump in head first, then enlist help from the HAZMAT team afterwards ...
Just another manic Monday..
http://www.youtube.com/watch?v=oFPZzmfu6j4
Bernanke, I know you are reading this: FUCK YOU!
http://www.cnbc.com/id/100784400
Whew, I was worried there for a minute, back to BTFD.
The only reality likely to be setting in is the setting sun on Benny's QE monstosity. Since it is still high noon, there is plentry of fodder to stoke the market fires, at least for another few years. Buy before the buyers return in droves. With Japan about to go totally ballistic with QE, Benny will have no choice but to keep pace in order to close the gates of Amerika to exported deflation from Abe.
You mean the BubbbleFed ISN'T god?
It will be up by day's end. Count on it.