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Here Is The Hope Rally, Right On Time
Yesterday afternoon, we tweeted:
What time tomorrow do we get the hope rally? Odds are between 10:30 and 10:45. Rejection news naturally just after 4 pm
— zerohedge (@zerohedge) October 14, 2013
And on the back of a statement from the White House that Obama and Biden will meet with McConnell, Reid, Pelosi, and Boehner - but "will not pay ransom" - and with the T-Bill market police on vacation, equity markets are surging back towards green (removing once again any incentive to act).
and yet again (just as with Friday) equity markets are on their own in the buying spree relative to all risk-assets...
- *OBAMA, BIDEN TO MEET WITH BOEHNER, REID, MCCONNELL, PELOSI
- *OBAMA TO MEET WITH CONGRESSIONAL LEADERS AT 3PM, OFFICIAL SAYS
- *OBAMA TO TELL LEADERS HE WON'T `PAY RANSOM,' OFFICIAL SAYS
BREAKING: Obama to meet with bipartisan congressional leaders at the White House Monday.
— The Associated Press (@AP) October 14, 2013
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They beat you by 90 minutes. I imagine the White House has declared war on ZH. "We'll show them!"
<---Where's the popcorn?
<---Where's the bowl?
No, man, this one's for real. I really believe that.
we're back to the days of 5 point "precipitous" drops on bad news, and 400 point "relief rallies" on rumours of good.
and there's no bubble in either the stock market, government bonds, or housing; only in gold.
yeah - fucking - right.
hey washington, u see how tough wall st is.
if u do not meet and agree to a deal, they will sell the market off 30 dow pts. they mean business.
fuck u obama, i really hope u fucking die u fucking bastard. u r fucking ruining our fucking country more and more every day u fucking piece of shit.
Yea buddy!
I wish I could up your post twice.
We're on the road to nowhere.
They get this done at 11:59. Wall St is just using the news to "goose" the markets.
Dean Baker says the debt ceiling default possibility is "putting the gun to Wall Street's head". If this is the case: I hope someone pulls the trigger.
The Sequester is the last hope of America. It's the only thing that has shown itself capable of slowing spending growth.
They will now try to undo it.
The deficit will be north of $1T again in no time.
That will ease up on the problem the Fed is having with buying too many treasuries. As long as they only monetize the debt dollar for dollar they can keep the system working forever. Not!
Nice start on the gap fill.
What is a Hope Rally? Is it possibly Higher On Positive Excrement...
To paraphrase W.C. Fields:
I like bankers and politicians. If they are properly cooked.
So perversely predictable that it seems that even trained monkeys and Pavlov's dogs could trade this market.
http://img24.imageshack.us/img24/4308/ok1o.png
truth is just by seeing how futures were looking since overnight, u knew there was not going to be a real sell off.
chuck schumer said saturday stocks can not go down, so wall st would never allow that to happen.
fuck u all bankers and politicians.
Anybody notice the selloff in Gold and Silver at the anointed hour again this morn as the phony paper prices were surging...then the trade sideways while the Fraud Market erased all losses??????????????????
Does anybody actually believe they're going to tell the banks "No more high quality collateral for you!?" I expect more theater, then a last minute deal.
Fuck.
No matter what the news market rallies more then drops. Because when news flow is negative there is always "HOPE" - only thing driving markets up this days. For instance greece problems contributed to 2000 Dow up points as anybody who farted news that Greece will be saved cause 200 point rally in Dow every time. Concerns where only causing temporary halt in dows daily upward movement
I thought the only thing driving the market up these days was the Fed. Or is Hope Bernanke's middle name?
The rally continues as long as they can talk T-Bills down. Government shutdown is the new status quo.
People should recognize that this deadlock was never about Obama Care. Cruz and friends used the opportunity to make it seem like the main issue. However, the real issue is the spending levels in the CR. Democrats were happy to let the Republicans administer a self inflicted wound to hide the fact that they forced a shutdown to blow past the sequester caps.
I want Obama's ass to meet my foot.
Mr. Obama will use the meeting to “make clear the need for Congress to act to pay our bills, and reopen the government,” according to the official. “The president will also reiterate our principles to the leaders: we will not pay a ransom for Congress reopening the government and raising the debt limit,” the official said.
When nothing changes, nothing changes.
Not sure why everyone is getting their hopes up. Obama has rejected everything that has been presented to him. If he doesn't get his way, then the idiot wants the US to default.
Conditioned Responses Wrong Again
http://winteractionables.com/?p=6389
I am aghast, amazed and astounded at the Normalcy Bias of the amateur and professional "investors", who keep Buying The Frikkin All-Time High (BTFATH) in the face of all the risk. In just goes to show that it is indeed all just a CONfidence game of "Expectations & Rewards".
The Pushers will keep pushing, the investment Junkies will keep buying, and... Nothing will change (in their conditioned primal behavior) until something basic and overwhelming changes.
Put another way: Sheep like to graze and shepherds like to keep them "safe" and calm, until it's time to shear or fleece them. Same as it ever was, same as it ever was.
Of course they will not pay ransom, they don't even pay their own bills FFS.
..better defined as:
WE'RE GOING TO SHOVE IT UP YOUR ASS IF YOU GO SHORT - rally
It will be very interesting to see what happens if this deadlock drags on.. and the market just satys where it is or drifts higher. Remember when the markets actually moved on their own?
Zerohedge: Clairvoyant as fuck! We look forward to more telegraphed fraud and hypocrisy!