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Goldman's End Of Day Recap, Or Crossing Into The Twilight Rabbit Hole Zone

Tyler Durden's picture





 

When Goldman "explains" the intraday 150 point Dow Jones swing citing a "nouveau press" article, with the subsequent retraction of the same article (on Twitter, of all places) by its own author explaining the snapback, it is unclear if one must laugh, cry, or just lock the door on the way out.

From Goldman's S&T desk:

The power of the press (and the nouveau press)! Following a very solid open, stocks maintain their early gains until FT Harding hits the tape with an article suggesting a signal from Bernanke this Wednesday that the taper was drawing near – in contrast to the more dovish Hilsenrath last week. Stocks drop nearly a percent. Then via Twitter Harding casts doubt on his own predictions and more than half of those losses are reversed. The price action just reinforces how important the FOMC Wednesday will be.

Meanwhile, on the other side:

... the great rotation awaits:

But at least the exit is in sight:

If you only zoom in....

 


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Mon, 06/17/2013 - 19:06 | Link to Comment Dareconomics
Dareconomics's picture

No one is turning off the money machine.  The correction will have to come from something else.

http://dareconomics.wordpress.com/2013/06/17/around-the-globe-06-17-2013/

Mon, 06/17/2013 - 19:33 | Link to Comment El Viejo
El Viejo's picture

How hard should one press the Easy Button anyway??? Telegraph me BB.

Mon, 06/17/2013 - 19:52 | Link to Comment NotApplicable
NotApplicable's picture

Poor souless HFT-bots, totally incapable of perceiving sarcasm.

The Onion might change the world after all.

Mon, 06/17/2013 - 20:41 | Link to Comment pods
pods's picture

Anyone else have an urge to get high?

pods

Mon, 06/17/2013 - 19:07 | Link to Comment jon dough
jon dough's picture

All Hail Hypnotoad...

 

http://r33b.net/

Mon, 06/17/2013 - 19:09 | Link to Comment espirit
espirit's picture

Moar Woar = Bull(ish)

Mon, 06/17/2013 - 19:32 | Link to Comment prains
prains's picture

Moar Woar = Boar

Mon, 06/17/2013 - 19:32 | Link to Comment THX 1178
THX 1178's picture

Boarish?

Mon, 06/17/2013 - 19:09 | Link to Comment FieldingMellish
FieldingMellish's picture

And no one in finance world questions whether one man having so much influence over so much "wealth" is a good thing.

Mon, 06/17/2013 - 19:13 | Link to Comment insanelysane
insanelysane's picture

Until it all goes horribly wrong and then everyone in the finance world will be shocked that it is run by one man.

Mon, 06/17/2013 - 19:14 | Link to Comment NidStyles
NidStyles's picture

Those assholes will say and do anything to make sure their newly created out of thin air "wealth" stays legitimate.

This bit of truth should be all you need to understand why they would be motivated to deceive anyone.

 

Mon, 06/17/2013 - 19:27 | Link to Comment involuntarilybirthed
involuntarilybirthed's picture

Volume, Volume, Volume.  Anything to churn and create volume.  Volume is oxygen to the street.

Mon, 06/17/2013 - 19:29 | Link to Comment bikemess10
bikemess10's picture

CUBS win the series!

Mon, 06/17/2013 - 19:30 | Link to Comment buzzsaw99
buzzsaw99's picture

The price action just reinforces how important the FOMC Wednesday will be...

Bull. Fucking. Shit.

Mon, 06/17/2013 - 19:31 | Link to Comment disabledvet
disabledvet's picture

"buy on the rumor...sell on the fact." again. that's what's coming Wednesday...same as the last time...in my view. The only betting going on will be where the market closes. "stock traders and Very Large Investors/hedge funs" are/have been running this thing for many years now. i see nothing to alter that as of yet. Japan is in correction mode now...i would ignore it. "all eyes on the traders" and the battle between Hong Kong vs New York in the New Media wars that have suddenly erupted "with that NSA kid in the middle of it all." the President's poll numbers have tanked, the war thing is looking crazy, cat's and dogs living together. the end of the world as we know it. "it's popcorn time."

Mon, 06/17/2013 - 19:31 | Link to Comment brunoaa
brunoaa's picture

Watch this video in English to understand what is happening in Brazil :

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

and please share it.

Mon, 06/17/2013 - 19:32 | Link to Comment bugs_
bugs_'s picture

you are getting bullish.....

Mon, 06/17/2013 - 19:34 | Link to Comment Yen Cross
Yen Cross's picture

     This 'Robin Harding'?   {Exhibit#3},  is proof that bullshite does travel at the speed of light.

Mon, 06/17/2013 - 20:25 | Link to Comment Yen Cross
Yen Cross's picture

     Did you do your homework? I clearly stated on Friday that there would be a squeeze in usd/jpy.(thats over)

   I know that you are asking what my trade is. I'm mostly FLAT & Hedged. I think that most of the usd selling over the last 30 days has priced in a Fed. move.

   If. the Fed. keeps the juice flowing, I expect a move in commodites, and based currencies. if the Fed. (cold day in hell) tapers, I expect a sell off and {healthy rebalance}.

  Either scenario suggests a selloff.

Mon, 06/17/2013 - 19:35 | Link to Comment SAT 800
SAT 800's picture

Wow what beautiful graphics. Sure is a nice stable, sensible "market", alright. Whoever is running this thing needs an adult in the room with them.

Mon, 06/17/2013 - 19:38 | Link to Comment brunoaa
brunoaa's picture

#changebrazil

Mon, 06/17/2013 - 19:39 | Link to Comment Goldilocks
Goldilocks's picture

Styx- The grand illusion + lyrics
http://www.youtube.com/watch?v=ZW8TlrYhBxk (4:38)

Bad Company - Bad Company (studio version)
http://www.youtube.com/watch?v=ww5GXbk58R0 (4:48)

Mon, 06/17/2013 - 19:55 | Link to Comment Schmuck Raker
Schmuck Raker's picture

A "wall phone"?

I must be seeing things.

Mon, 06/17/2013 - 20:27 | Link to Comment chump666
chump666's picture

There was NO correction. 

Skynet isn't that smart, you follow FX correlation that being EUR bids, YEN selling and major USD dumps for BTFD.  Japan's volatility was another country (China) messing with it's bond market an economic warfare hit.  Proof?  Sure.  JGB bonds, held mostly by Japan, start selling hard?  All you need is selling from 9% holdings and you get major yield spikes  - leads on to a stock sell off.  It was a precision hit and admirably done. 

But NYFed knows the FX correlation to a T, will maintain EUR supports and keep Wall street juiced on USD sell offs.  Also will assist Japan in Yen devaluation by dumping Yen onto it's books and swapping with USDs.  Anything to keep Wall Street and the pensions funds buying up stocks = the global Crony Capo trade. 

It's a chess game played by idiots.     A predicable pattern is emerging.

 

Mon, 06/17/2013 - 21:30 | Link to Comment Yen Cross
Yen Cross's picture

   Anyone trading the euro, should be shot in the head, and FUCKED in the bullet hole!

  The only reason cable is overbought, is because of GILT yields. (remember last week early morning(wednesday), I mentioned 10year GILT yields spiked)  Fast cash ran to gbp in front of G-8 and the Fed.

     http://www.efxnews.com/story/19207/boe-revive-qe-aug-gbp-strength-attrac...

Mon, 06/17/2013 - 21:31 | Link to Comment chump666
chump666's picture

The EUR is owned by the ECB and the Fed.  So you can't trade against them, I seen so many shorts killed trying to short under 1.30 (central bank supports). Unless you have a HFT scalp program...otherwise forget it.  Yes cable and AUD, YEN on volatility.  The DXY has been a great trade, dip buys, on Asian/China/South American buying and then the CB cartel selling.  Fat range. 

I hope Scorsese mentions (subtext or something) in his new movie The Wolf of Wall Street, the ONLY reason why we have a market as we have now, is because we bailed out Wall Street and the Fed became a governing body sideswiping Obama lameness etc.  Lenin would be smiling from his rotten corpse at all this.  There is no free market anymore. 

Mon, 06/17/2013 - 22:07 | Link to Comment Yen Cross
Yen Cross's picture

    Chump, we have discussed currency yields for a long time.  < I always respect your thoughts.>  s.s.usd

Mon, 06/17/2013 - 23:25 | Link to Comment chump666
chump666's picture

Thanks.

Goodluck with you trades. 

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