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Mission Accomplished 2.0: S&P 500 Surges To All-Time Record (Nominal) High
As we tweeted earlier, the mainstream media now has its headline for tonight. As earnings look likely to be a disaster, and with nothing but a 3 month can kicked to the next farce in Washington, it is likely becoming just too plain to see for the world that US equities rise on the basis of one thing and one thing only, and the Fed speakers today confirmed that the un-Taper is off the table (as gold confirms).
- *S&P 500 CLIMBS ABOVE INTRADAY RECORD TO 1,730.12
As we noted...
Need record S&P high for MSM to proclaim "markets soar to record on debt deal."
— zerohedge (@zerohedge) October 17, 2013
and sure enough...
The question - obviously - is... what next? This lift off looks awfully similar to the Un-Taper ramp and we know how that ended...
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Parabolic!!!! POMO in full effect until the wheels fall off!!
This most recent government bailout was not the first. It should just be called a bailout not an "increase in the debt ceiling." Its so fucking stupid.
http://en.wikipedia.org/wiki/History_of_United_States_debt_ceiling
The circus keeps rolling along.
So now do we get another 5-10,000 GC shorts at 3 a.m. tonight?
BIS is warming up the shorting algos as I type this.
speaking of circus
Kirk speaks to congress
http://www.youtube.com/watch?v=ipe5EjcchvY
Stock indices were soaring just a few years ago in Zimbabwe and Argentina too.
I wonder how many clueless sheep, even among so-called "professional investors" (RoboTarder, I am looking at you), are cognizant of the fact that all stock indices are purely nominal measures. For that matter, I wonder how many sheep are even cognizant of the concept of nominal vs. real.
Lawshanda and Billy Huckleberry want to know why they can't lever up with their ebt cards on the ramp. You know, balls to the wall front run the fed?
"Panic buying" - lmao
This Casino should be open 24/7!
Hell yeah, I get serious btfath withdrawls waiting for the Japanese market to open.
I know. I can't believe I missed the dip. Maybe because they, like, made it not look like a dip, or they went only halfway down the dip, then it was up, and then they stopped doing up, and then, oh yeah we got you, that was the dip, and now it's gone, and I missed it because it didn't really look like the other dips, and Boner wasn't crying this time, and there is finally peace in the Middle East, and, and, and...
The important takeaway for me here is that every single stock that I've selected, for myself, by my pick, to possibly put some money into correlates pretty much exactly in price when viewed side-by-side with the S&P YTD, with various phasing delays, croppings, and clippings that only very slightly interrupt the correlation. And yet, they are in completely seperate industries, fundamentals, etc.
Where is the clerk in this bucket shop? I have some plunging to do.
Dude....just watch the SPX and INDU and if they fall anywhere near the 50 day MA..buy!!!
Since you are saying that now, I would wager that the next time that happens, selling would be better!! I'm not trying to insult you personall.
How did the un-taper ramp end?? apparently we are higher now, rinse and repeat
Ignore everything but the gal who controls the money. That is all that matters.
To Bart,
Today, at exactly 5 PM eastern, and for the next fifteen minutes, somewhere between 40,000 and 125,000 contracts will be dumped on silver's head.
It has hit like clockwork every day this week. Starts at 5, ends at 5:15.
Let's see if it holds true today.
The entire financial activity across all markets is a dog and pony show.
Bart can't help. He's smooth in the front, like a Ken Doll.
Yeah, Bart was supposed to save the day.. LOL.
BUY MOAR STAWKS!
Much like RE, you cant lose in the long run...
...into full doomer douche mode, n1!
This chart make me achieve virtual orgasm.
Long live the plunge protectors! You bring me to new highs that chemicals could never replicate.
My leveraged VIX ETF is getting the Mumbai Tourist treatment. Thanks for nothing, RINO eunuchs.
Leverage is only allowed when buying moar.
but but but tyler, the msm told me that wall st is going to start trading on earnings.
somehow, a price weighted index like the dow is fucking flat ( shortly to be green) despite ibm-174, gs-158, and unh- 71, all getting whacked.
how is that even possible? someone please explain to me?
do you guys thing it will be worth it to buy puts way out of the money when i think the time is coming for the epic crash?
this is going to be epic when it does happen. they just keep pumping up the s&p to new highs on absolute terrible growth. too funny
There won't ever be a crash. This ride only goes up because QE will be increased to make sure that happens. What comes with the current situation is hyper inflation. Terrible, rampaging hyper inflation.
I just don't see the hyper-inflation scenario...how can that happen with everyone broke? I have a friend who manages grocery stores, the only way they can sell things is to have sales. He says it's very shitty right now.
What do you mean "somehow?" You chose the 3 out of the 4 stocks (CSCO also down today) that traded negative today on the DJIA. Maybe go back and look up what "price weighted index" means...
And in the long run, capital gains are a zero sum game, most especially when adjusted for inflation. Nothing to see, carry on.
The really amazing thing about this is: Upcoming debate about Debt Ceiling 2.0, Taper 2.0, after the legendary christmas rally 2013.
I guess they will just keep printing, no taper and raising the debt ceiling again next year.
LOL - God bless the USA
we are so fucking fucked, i dont know what to say.
its also very scary how the majority of people believe things are going well ( not talking about zerohedgers obviously)
i am truly scared for society.
btw, if goog beats today, nasdaq will hit 5000, the all time high for the index, prob tomm. s&p will deff hit 1750 tomm, heck it may even come close today.
i hope all these asshole hedge fund managers and all other wall st fucks enjoy making there worthless dollars in this market.
And meanwhile the median income for families in the US continues to decline. It is amazing to see the bottom continue to vote for the politicians that will make them poorer.
Lots of people are focusing on the indices while some of the biggest companies have charts that are broken or very nearly so, with many making topping formations that are near to breaking out to the downside. Look at IBM, T, CAT, XOM, PG, PFE, KO, VZ, WMT, and DIS, just from the DOW.
With shitty earnings being reported everywhere other than the mark to fantasy financials, which can report anything they want to with impunity even if they end up going broke tomorrow, I'll stick with my gold and silver and miners. Not shorting NFLX ect. yet, but maybe soon.
FTMFWABTFATH!!!!!!!!
Not only is there no shorting allowed , now there is no selling allowed...period. Sell or short at your own peril...the permabull, permabuy, permaput.
chances the dow closes red today? ZERO PERCENT!!
MSM is telling me how ibm and gs earnings are weighing on the dow. i just laughed out fucking loud.
we really need someone to go on tv and fucking warn the regular everyday people in society of how fucked we are and not to look at the stock market as a gauge of the economy.
also, i dont want to here the media tell us how things are priced in.
if things were priced into the market, the s&p would not fucking be up today after being up like 70 pts in the past 4 days.
this '' market'' reminds me of when i used to play online poker.
i would put money into my account, and i would do very well, but since it was money on the computer, i never actually cashed out because i never thought of it as real money.
S&P 2000 by EOY. No doubt in my mind.
end of the year?
prob end of month at this fucking rate.
its such a fucking joke at this point
Getting closer and closer to this:
http://www.youtube.com/watch?v=_1sRNPnopIg
(0:19 seconds, opens in new window/tab)
Costs you 1.32 gold oz coins for 1 ticket on the S&P.
I think it's time to check out of this nonsense. There is no point anymore. Good luck to everyone.
Can someone please explain to me why this debt agreement and Fed money pump are bullish?
Bullish for the 1% - bearish for the nation.
All the poor working schmucks with IRA-401K-Pension money in the casino will have it crashed, taxed, and confiscated away. It looks good on paper, but it looked good in 2007.
It's only bullish for the Casino House, the Pit Bosses, the experienced Dealers, and not the gamblers stuck to their chairs.
Magnets under the roulette wheel, loaded dice at the craps tables, ten deck blackjack.
And your point is?
It's always a revelation for you doomer douche bags, it's like gambling -- ooooooooh, beware.
LMFAO
Negative attnetion seekers generally suffer from egotism, and often ncarcissistic personality disorder.
I'm not sure if this will help or worsen your affliction:
http://en.wikipedia.org/wiki/Narcissistic_personality_disorder
"This condition affects one percent of the population." Coincidence?
Can someone please explain to me why this debt agreement and Fed money pump are bullish?
The equity market is helplessly addicted to liquidity in the form of endless QE. Fundamentals got flushed a long, long time ago.
Glaring result of a burgeoning economy.
'This ramp looks familiar to the un-taper ramp, and we know how that ended'
Precisely why we'll get our next fabricated major crisis to fear and panic manipulate everything in 5.....4....
Who cares................
I really don't. Let them run the Sucker&Poorers up to 50,000...whatever.
Ya, why would you care? You've already missed the first 50% of the move.
And for the next few acts in this shiteshow:
Look for the Dems to immediately take steps to try and ram an immigration reform bill down our throats.
Look for Obumble to use the spectre of a looming debt ceiling ~3 months from now as leverage against the "evil" Repubs to get enough votes to pass the immigration reform bill.
Look for Boner to cave in again.
Look for more pumping as the media cheers their hero, Obumble, for the economic "recovery".
Damn this shiteshow.
FUBAR.
DDD new high! You know what they say? The first day of a new high is typically followed by...
Ooops, forgot I was on ZH there for a second. You know-it-alls already know the answer :)
And yes obama is a cunt and politics is an acting career for ugly people and the Fed should be abolished and we're living in a fascist state and...
The banality of your commentary is exceeded only by the offensiveness of your personality.
According to Deutsche Bank:
https://app.box.com/s/otdvclw8ijxzflhkhem6
October 8, 2013
Bretton Woods III and the Global Savings Glut
Summary
History suggests that periods of global economic expansion are characterized by symbiotic imbalances rather than balanced arrangements that satisfy theoretical ideals. Therefore, it is important to understand the factors that drive the imbalances in each period as well as the resulting distortions. In our view, demographics will have a significant impact on the future trajectory of the world economy. In this report we specifically focus on the implications on savings and current accounts.
Population trends imply that we are entering a phase where rapid aging will cause many countries to generate persistent current account surpluses. This raises the question – who will generate the world’s deficits?
World demographics is not neatly spaced out such that some countries generate surplus savings exactly when others need to fund deficits. Moreover, there are many factors that may prevent surplus countries from funding deficit countries. Thus, we have a situation where countries like India, Brazil and Indonesia may attempt to tame their deficits before old countries like Japan and Germany enter their dissaving phase. The resulting savings glut could be further exacerbated by a likely increase in China’s current account surplus.
Thus, the emerging international economic system, dubbed by us as Bretton Woods III, will yet again depend on the United States to act as the demand source of last resort. Meanwhile, demographics will hold down the real cost of international capital whether or not the US decides to absorb part of it. In turn, the ability of world’s financial system to allocate excess savings will be tested again. Young emerging markets with the ability to sensibly deploy cheap capital could benefit disproportionately from this environment.