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S&P Futures Don't Budge As China PMI Misses (Again) And US Government On Verge Of Shutdown - Update - Ramp!
UPDATE: Rumor of Clean CR (unfounded and denied) sparks squeeze in bonds (10Y +5bps) and ramp in stocks (ES +10!) - leaving us wondering how an equity rally will play with the press in the morning if we shutdown?
UPDATE: And now futures are testing towards the day session's highs...
Given the Senate rhetoric following this House vote - a US government shutdown with all its fire and brimstone that we have been told to expect is nigh; For the second night in a row, Chinese PMI data disappointed with the recovery not as growthy as everyone had extrapolated from the flash data. This is the smallest rise in China's official PMI in 4 months - just 0.1 above August's at 51.1. What is the reaction of futures markets? nothing...
and 10 minutes later - S&P futures are testing the highs but 10Y remains entirely unimpressed...
Charts: Bloomberg
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the budged higher on the senate BS
http://www.bloomberg.com/markets/stocks/futures/
Wild guess here but isn't the 50 dma somewhere around here?
As usual, no hiccups in the Matrix.
this market is like a deer on the headlight. all of a sudden it will over on no volume at all,.. watch it
Yeah it is, the market (algos), see it as business as usual. Maybe it is but being desensitized to congress and Fed bullshit is going to make this market pick the wrong side of a bad bet.
Fucking. Bulletproof. You is a bad motherfucker, Ben!
Ben is pouring it on...hes got the markets by the balls...hate to hold PM'S for the next few weeks
only if ur silly enough to trade in various derivatives of physical, aka comex & futures
Should be good stacking weather the next few weeks, Ben can hold all the balls he wants.
With the start of a new quarter unoffically underway, it's incumbent upon everybody to pile into long risk positions tonight.
Beat me to it
More QE! More .gov spending! Wall Street and the banks will not be denied!
CNBC anchors suggesting today that "if the market would just tank by 300-400 points maybe they would pass something."
So that's where we are: if the FED and .gov don't keep slathering the gravy on Wall Street and the banks the markets will crash and that will mean the "economy" is in trouble.
The economy is already in trouble you dumbfucks! The economy is in trouble because of the FED, .gov, Wall Street, and parasitic corporations offshoring employment, production, and all of them DESTROYING the rule-of-law in order to continue the fantasy!!!
There is no political solution!!!
Burn it down!!!
+100
Yeah, somebody Call in Hank Paulson... He will bite the Head off a Live Market if you don't agree to his terms.... "Great American" Hank and "The Honorable" J Bone Corzine, paving "their" Road to Free Market Prosperity.
This is hugely bullish! FED sees global economy weakening a bit so no taper. Rally on! Thought you guys would have figured this out by now.
The market is so fricken broken nothing surprises me anymore.
They must have turned off all of the algo's for the drama going on in the gov.
Oh they are going to budge alright. The only way the extortionists know how to shock and awe to move legislation in their favor is financial terrorism..remember the flash crash?
Full fed audit, cap on bank size, Glass Stegall return amendment...
Hour later markets lose 1000 points in 10 minutes... Oooga booga..Senators like Bernie Sanders brought to back room...amendments stripped and watered down....
Markets recover upon announcement.
And they say we don't negotiate with terrorists..
Good...shut down the government please and fire everyone and send them home for good.
These freaks of nature (or satan)make the teflon don look like a chump.
Apparently the Federal "Market Lobotomy" includes the Futures. No pain is beautiful thing, apparently. .... Please make a note of it.
That just shows you the S&P and DOW and all the rest are BULLSHIT! If the Gov't" shutdown doesn't move the nedls and the CHina PMI miss, then it is ALL based on BULLSHIT!!!
Hello? Hello?
<crickets>
of course. The market price of everything is PRECISELY WHAT THEY WANT IT TO BE.
sure, a big private player might create a small shift by a big volume move, but if it aint in the direction THEY want, it will be erased and retraced on less volume than a spiderweb
It is not a dog and pony show..Dogs and ponies are much more intelligent,moral and ethical.
Along with that, they do not make a living out of lies and extortion.
The market is dead man walking at this point.
i think 'shutdown' is too strong a word, by far. it would be better though if it were accurate. imagine all defense contractors, snap recipients, medicare billings, nothing being paid. that would get the deficit in line real quick.
OT, govt spending should not be included inany gdp numbers....discuss
Maybe none of it matters ... as long as the FED is buying up everything not nailed down
Bear, you are so right. It is
all about cash flows, watch that nothimg happens until cash flows are affected. And that is exactly why the Fed is trapped, they cant taper without affecting cash flows, and they cant continue without removing all high quality collateral from the market (shadow banking food source).
Time to smack gold just to enforce the message.
Futures markets are a killing ground for suckers who want to lay bets against primary dealers vacuum tubes that run the rigged market. No thanks!
Of all the things that could happen, shutting down the Federal parasites has to be one of the most positive for the real economy. Shut it down and keep it shut down. Permanently would be OK.
Keep pushing the print button 'lil Ben. Just like Homer Fucking Simpson.
Nobody cares until things actually shut down and stay shut down until at least mid day tomorrow.
The market didn't fall today over fears of a shutdown. The market fell today over fears that an agreement might actually have been agreed.
Tomorrow, with a partial government shutdown under way, the S&P will shoot up 20 points. New ATH on the way.
Less government to pay for=moar money for algos to run wild.
Jim Grant- So, again, the Fed is systematically conscripting financial markets to policy ends, and I think it’s a hugely distorting thing. People can’t make sound and economic decisions in a market economy without true prices -- without (true) prices, economic science is a joke.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/29_Jim_Grant_-_The_Fed_Is_A_Danger_To_The_U.S._%26_To_The_World.html
I think this is called communism!
just think how high we'll rocket when we reach a budget. The Ratchet Stock Market continues.
And they hammer the one asset class that makes sense of all this. The only class that is under valued. But mark my words, at some point they will rocket so high it will amaze even most of us here. But for now, afraid worthless dollars are the place to be, at least for a few more weeks.
Double post. Sorry.
Still waiting!
http://www.amazon.com/Dow-2008-Different-This-Time/dp/1893958701
Meantime the Gov borrows and the Fed prints. Genius.
hahahahahahahahahahahahaha
Poor America.
Switched SPY position from short last week to long. Over a period of a month, took a licking with my short hat on, could see this market wants to rise regardless. Can't fight the tape. Joined the dark side. Meanwhile, all the suppressed counterplays just sit there. Heloo silver? Gold? Anybody home? Even the bond market index funds inched upwards.
Soros was biggish short SPY in Q1 and Q2. If he's still short, he's toast and has to turn in his evil genius trophies.
Spent my last $1.97 on Barrick, put up my feet, lit up a Camel. It hedges my long SPY.
Waiting for hell to freeze over.
And the market is starting to rally with the shutdown. Shut the government completely down and we go up big.
Complete shutdown is bullish.
At the 400p close, it looked like the S&P500 hourly was heading higher into tomorrow
http://bullandbearmash.com/chart/sp500-hourly-pushes-higher-morning-drop...
I think if there were mushroom clouds over NYC, L.A. and Chicago, futures would ramp.
But Gold seems to be doing it's job for now http://www.goldprice.org/spot-gold.html
And what a relief: U.S. Oversight of Financial Markets to Continue During Shutdown http://www.bloomberg.com/news/print/2013-09-30/u-s-oversight-of-financia...