Good Is Bad - That Is All

Tyler Durden's picture

It's been quite a morning. Beats across the board at the macro headline level. Housing (prices and sales), check; Durable Goods, check; Confidence, check; Richmond Fed, check. So why are stocks not surging?



The problem is that bad is also not good anymore (as we noted yesterday).

Though, of course, it's early yet - and it is a Tuesday...

Please bear in mind the implicit message from the Fed:


Charts: Bloomberg

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LetThemEatRand's picture

But war is still peace and ubiquitous spying is still freedom, so that's good.

SafelyGraze's picture

when indicators are positive, fed more likely to taper

Skateboarder's picture

But Tuesdays are when we go up, up, and away.

Stackers's picture

Now where did I put that greater fool....

Go Tribe's picture

Someone earlier put it well: Wonder how many suckers will be born today?

Dr. Engali's picture

The fed will not taper. Before this is over they will be printing moar.

Au_Ag_CuPbCu's picture

Well sheesh, for years now Bad is Good, so this makes perfect sense.

Dr. Engali's picture

Ignorance is strength. It's funny how that only applies to the masses.

Levadiakos's picture

Are you trying to rationalize your weaknesses?

Bearwagon's picture

Are you trying to contribute something worthwile, or are you just trolling?

Dr. Engali's picture

I identify my weaknesses , strive to improve myself in those areas, and turn them into strengths. You on the other hand strike me as the type of person who will always be weak and feeble.

slaughterer's picture

Look at POMO schedule for this week: bull climax on Thursday ("Thursday is the new Tuesday" meme) for the H2 window dressing.

Sell off on Friday.  Then vol. moves all summer.  

Cursive's picture

~1590 is troublesome resistance.

flacon's picture

When it breaks it goes to 1540.

fonzannoon's picture


This will be the summer where stock and bond bulls and bears get their ass kicked while the PM corpses lay in the backdrop.

fuu's picture

Ahhh, you're one of those people.

fonzannoon's picture

Yeah you always had me pegged right. Stick with it.

The idea that it may get a bit worse before it gets better was always a tough sell around here. It is what it is.

We all know where it ends up going.


fuu's picture

"The idea that it may get a bit worse before it gets better was always a tough sell around here."

I can't believe you actually typed that, it must be one of your very subtley sarcastic comments.

fonzannoon's picture

My sarcasm is anything but subtle.

That however was not sarcasm. I am watching a whole bunch of people who all seem to agree that this market a bunch of rigged bullshit continue to throw their quarters into the machine. I am surprised to see it. Other than a very small handful it seems like most people just continue to feed the machine. My guess, as was meant by that comment, is that they will contrinue to.

fuu's picture

They have to keep earning so they can dine with banksters.

fonzannoon's picture

That's probably right.

slaughterer's picture

Fonzanoon, the ass-kicking does not start until H2 window dressing has been completed.  

fonzannoon's picture

Slaughterer I was wondering about that. Would window dressing here mean showing a lot of cash at the nd of this quarter? Why, at the end of a shitty quarter would one be in a rush to show they are loaded up? Especially when they are going to want to be light the next few months?

As for the PM comment which goty my ass handed to me. The reason I said corpse is because the PM crowd (me included) already got their ass whooped for the time being anyway. You have warned that for about the last $300 in gold and $10 in Silver.

fuu's picture

<ruffles fonzannoon's hair>

prains's picture

When it breaks it goes to 1540.


Flac is that A.D or B.C??


This should help y'all

tmosley's picture

Good is bad, bad is bad.  It's as if the markets suddenly woke up and realized that everything in the entire world is mispriced, but no-one wants to make the first move because it will trigger a catastrophe.

Levadiakos's picture

Tell us again how your $50 silver is good bagholder

g&#039;kar's picture

Depends on what you bought and sold it for

fuu's picture

Levadiakos = Vodka Aisle

Bay of Pigs's picture

And right on cue the stinky Greek soccer buffoon comes in to hijack the thread.


Bearwagon's picture

Come on, Bay. You call that a threadjack? You aren't serious, are you?  ;-)

tmosley's picture

I'll give you a 0/10.  It's the best I can do.

Croesus's picture

But, but....if you don't buy stocks now, when they're cheap, you're going to miss out on the bargains! Don't you people know anything?


Bay of Pigs's picture

Get your mentality right and Buy That Fucking Dip!

dontgoforit's picture

So, I got a flyer saying POLR was going to go ballistic.  I took a look and saw it was at $5.25 a couple weeks ago.  Checked again for a number of days and it sat at $5.25.  Then suddenly it takes a nosedive like a wingless B-17 and bam, it closes at $0.90 yesterday.  Being an oil stock, I had given it a moment's thought - but something just didn't seem right.  83% loss in a week.  Just goes to show.  This is a dip alright: a dip-shit.  And I ain't buying.

Croesus's picture

That's awesome, Chief!


spastic_colon's picture

quarter end noise maybe?  gotta look good on all fronts!

max2205's picture

The Commodity Futures Trading Commission is set to sue Jon Corzine over the collapse of MF Global, but while the CFTC is unlikely to offer a settlement, it probably won't bring criminal charges. The agency won't directly link Corzine with the disappearance of over $1B in customer money and will instead try to blame him for breaches that took place lower down in the firm. Corzine could face millions of dollars in fines if he loses the case

Bay of Pigs's picture

Gensler and Chilton are getting booted soon, so I doubt the new regime will be any better than what we've seen. In other words, Corzine will be FREE soon.

And how is that 4 or 5 year old silver investigation coming along?


thedrickster's picture

What are confidence & case going to look like with 5% mortgage rates and June 401K devastation. Thought credit markets were adult swim?

ejmoosa's picture

All that is noise.  There is no substantial earnings growth.  Even earnings from continuous operations are flat, at 1.8% year over year increase.  Continuous earnings eliminates all the costs of bad business decisions so that then can give us a "what if" P?E ratio.


No earnings growth means no job growth.


Today will be the start of layoff Tuesdays.

macambaman's picture

Good is worse, bad is better, worst is best....I'm extremely confused.