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But, but, but... the rally was all about earnings and fundamentals... not the Fed, right?
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LOL!!!
We are not in a bubble. I repeat, we are not in a bubble.
Boy those anal-ysts are desperate.
Santelli - this is why QE is forever
The Fed is demonstrating their power......and they WILL implode everything......but not yet. This is to show you THEY are the market and YOU WILL COMPLY BITCHEZZ!
Goldman and Morgan will be insolvent in no time... Thankfully, people still use debit cards meaning they have an easily confiscated deposit, er, I mean credit to the banks. Looks like Goldman and Morgan will be saved!
And then the americans flood into the streets. Much has been said of lazy and passive americans, but whne the KFC and corn syrup stops flowing... Its all about flow you know.
Too bad they are too stupid to know who their enemy really is. They will be kicking in the millionaire's door down the street because he took all the money... How do you teach corn-fed fatties who and what the Zionist Commie is? It's hella difficult to convince these dumb rednecks that the Bush family is one of the most evil things ever created by Rockefeller, Harriman and Walkers (research Samuel Bush). Is there hope? I wonder...
Right on. One way to think of it is, they (Prescott and GW) started the CIA. The intelligence agencies work for the Oligarchs, thats a basic summary.
I cant look away from the chart! Its mesmerizing.
BULLISH!
I know, I know!!!! We should be hiding in GOLD!!!!
Oh wait......
Don't forget, it's spelled GOLD, not GLD.
Al is correct. People are selling GLD and SLV (paper). Here is an example. To print 1 oz of silver costs $0.00-$0.01 per ounce. To mine silver it costs $19-22 per ounce. -- Having metal in your hand is still safe.
LOL is right. Every podcast and youtube analyst was saying things would drop the past week. HERE IT IS!
people get a buzz seeing stock markets crumble.
people get a buzz seeing stock markets rise.
But the discouraging part is watching someone who has no fucking clue what they are doing, take the mic and pontificate about "employment, headwinds, systemic risk, green shoots" and all the other bullshit that comes out of Bernocchio's mouth.
PPT should be back from the usual extended lunch soon.
What is disheartening and demoralizing is the lack of truth tellers and any shred of integrity and honesty in the markets.
nope-1004; ah yes but such discouragement just gives me that opportunity to laugh, scorn and mock these fools.
Im downright giddy - the people around me cant figure out why.
It's 4 lousy %.
We did -4% moves in 1 day in 2011. This is nothing.
This shit needs to be down 50% pre open Monday, so that it CAN'T open from the circuit breakers.
Same thing all week long.
Let's see how the world looks with the S&P -50% after a week of trading. Then we'll see Warren's swimming with no clothes stuff.
And it will turn out to be 80% of CEOs.
Go back to sleep grandma ... its only a bad dream.
What is scary in this drop is all assets are dropping in sync. And this are assets used as a collateral in many companies that trade. And when Mr Margin calls in next few days and they need to sell to meet a call they need to sell into deteriorating price. It's really scary what can happen... Unless this was setup and fed will print MOAR
Deflation. Temporarily. Precursor to inflation.
Watch for when banks start extending loans (for the first time in years). That will be the key stage.
“Unless this was setup and fed will print MOAR”
It’s a shame they are so reluctant to print.
..at least they always tell the truth.
Banks extending loans? Who wants them? Too much theory. Debt's going bad in the Chinese and US shadow system. In EU it's going bad in all sorts of categories. Consumers could have been convinced that "inflation's coming, so buy goods now!" except consumers already perceive that they will not have a way to earn more of that devalued cash next year, so their only option is to say "nah. Not buying now. Have to save cash just to by rice (noodles, toilet paper) over the next three years. That's my "theory of the consumer."
Could it possibly be significant that the S&P500, ten year, and gold are all dropping together? Hmmm...
Yes it is... As I said earlear all this assets are counted as collateral in all your counterparty trades - so trading with anyone is getting riskier by day that's why repos jumped in China. Deflation could be when ocean leaves a beach - just to storm back as an Inflation Tsunami
all assets are dropping in sync...
What's up with OJ?
Is this a joke Mortimer?
Buy! Buy!
Where's that gorilla mask?
Yea... It's a good thing everything is not correlated hahaha
Bernanke's mail probably hitting 1 mail per sec. ting, ting, ting... LOL
I have a feeling Benny Boy has a few other tricks up his sleave. Probably will just keep printing money and not say anything about it but I really hope he starts dropping money from helicoptors so he can live up to his name before retiring.
the water flow will be shutdown, market will become a desert
Gute laune! :D http://www.youtube.com/watch?v=onci2zu72QU&feature=share&list=PLVTuUx43w...
puzzling!
Moar market horror overnight and tomorrow.
We don't need no water let the mother fucker burn......
BURN MOTHER FUCKER......BURN
Gold and silver in freefall. Bad news all around. This will make 2008 look like a fucking picnic.
BUT JPM will be able to restock its COMEX vault at a far lower price
OR
A COMEX default - payout in cash - becomes MUCH more affordable.
long term trend remains - too much paper money in circulation backed by NOTHING - higher demand for glod and silver and shrinking supplies as ore quality drops and mines close
If you want to sell you're playing into 'their' hands giving up a tangible asset with no counterparty risk and exchanging it for pieces of paper
+1 This is bullshit. Your analysis is spot on. Kudos.
Premiums on physical silver are currently at 15% i.e. around $3. So that means they get at least a 15% discount by settling in cash. They've gone one better by bringing the market down from $28 to $20 on top of that.
Paid 30% premium on silver today, or about $26.
(Local shop is the only place within bicycle distance 'round here. Next closest burns 4 gallons of gasoline which adds $15 to the expenditure.)
Right. I was going by Tulving and Nucleo Direct. In one case, its a 500 oz minimum (Tulving), in the other, you can only order within the States.
Right on. I'm a new kid in the silver scene -- seems I popped in on a conversation bigger than my britches. Sorry 'bout that. Back to lurking on silver threads...=]
+1 bullish
Not all ZHer's are big bucks........it's about intel........where's the money flowing?
BTFD.....only PM's......no bullshit.......ready thy flotation devices.
I agree with you of course, but it sure isn't stopping the cratering of PM's (much like 2008).
I think this is the worst I've seen in the last 12-13 years.
Glorious.
And all the stock market shills who shamelessly / shamefully rah rah'ed the bull market over the past year, suckering in poor dupes by proudly proclaiming "stocks offer so much value" and "stocks always go up over time" can now officially SUCK. MY. DICK.!!!
Dow drops? BTFD!
/s
PMs are getting hammered beyond belief. Have to admit that outside the Fed/JPM/GS triangle, no one - not even ZH - saw this coming last Fall.
Q: Hey PM bro, how low will it go?
A: I'm going out to BTFD. Later I'm going boating.
JPM needed help to restock its COMEX vault.
With what, and from where?
Exactly. There's no physical coming into their vaults, in spite of the lower prices, and apparently, as of yesterday they still have to deliver 490,000 oz at the end of the month, with only 418,000 in their vaults. But apparently, even though they can't cover the physical obligation, they are in fact net long gold, so I expect they'll just figure out a way to hand off the delivery obligation to those clever specs that are making a killing on the short side right now.
They will deliver in cash, not physical. Hence the GLD and Gold spread.
The solution will come and it will not be what we expect.
At least give me a hint! What do I expect? so I can cross it off...
not the Spanish Inquisition
Put her in.......THE COMFY CHAIR!!!
Its 1515: Time to fire the retro-rockets and kick this bitch into 'Salvation Mode'. Mr. Henry, are you ready?!? Ensign Henry! Standby to fire on my mark! Kevin, are you there?!?!
Power... Power... Kevin, pull the nose up... Get the nose up! Power... POWER! POWER!POWER!POWER!POWER!POWER! GET THE NOSE UP! GET THE FUCKING NOSE UP!! GET THE FU-.....
Whew! THAT one was close, Kev. I think I went poo a little bit at about 14,733...
time for bernanke to fly like superman and drop the dollars to the population, saving the world again..
I'll wonder if Maria's hoping that we close off the lows.
Soon they will simply have Bernanke stop making public statements. All Fed operations will go on behind closed doors with no public or media oversight whatsoever. This will be the only way to properly control the markets.
Nice going Ben! Nothing succeeds like total fucking destruction, eh? Brilliant!
Gold going down in this general macro-monetary environment reminds me of the machine gunning of the USS Liberty's lifeboats after straffing, rockets, napalm and torpedos.
The ones sinking the ship will be the same ones salvaging it and claiming the contents..... JM+PM had a NEGATIVE balance on their COMEX vault holdings yesterday - committing to deliver more than they had... wanna bet this helps them immensely?
Well overnight going inbto Asia... the hedgies might feel that it is time to get out of the EUR/JPY carry trade. EUR is next to get crushed, then Bernanke has a real problem on his hands... or maybe Obama does.... meh...Obama is going to be visiting Africa with the missus. He deal with it when he gets back.
Yes, He can stay at home too . No need to come back to US to annoy us .
How are those Sept NKY calls working out for you muppets?
Buying opportunity of a lifetime today!
this is going to be a very long 30 minutes
and friday is going be even uglier
how much are nikkei futures down currently?
2%
"Now witness the power of this fully armed and operational Fed Death Star"
Time for Benny to up the dose of QE.
Don't fall for this. This has happened numerous times before . A 40% selloff might indicate something. Until, it's BTFD because QEx is just a button press away.
The DOW is down 358 points, well off today's low. Did I get that right? Or should I have written, the DOW is up 210 points in afternoon trading. Well off today's low.
Edit: Opps I just got home and I jumped to the conclusion that the DOW fell 570 today and then rallied.
"Krugman and Bernanke".
Sounds like a cheap comedy double act.
Emerging market strength is over also. I may have paid too much for my new made in India underwear.
The Year of the Rat.
Thought it was the year of the snake.......
Krugman...that you...
Those 3D printers are looking better all the time.......
So, Cramer, Maria, Leisman, Tepper, et al., “Where else ya gonna go now?” you buffoons. Hope you were all in at the top, and all those you talked into it come after you with pitchforks..
Cue CNBC's blame it on the HFT's and the short sellers.
By the end of the year you'll be flipping that chart upside down trying to make the upside look like the downside. Buy everything that isn't nailed down.
It is possible that when threatened with reduction in stimulus, the market will throw a disproportionate tantrum in effort to show bernanke who runs the show. It may gain more steam then intented. Will ppt respond as vigorously as in past or hesitate. Why are they allowing this to happen. Suspect they need to inject a bit of fear.