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"Sources" Confirm No ECB Rate Cut Tomorrow, Euro Soars Pushing Dow Jones To New Record High.
Even though a meager 3 of 70 economists actually expected Mario Draghi to announce some sort of rate cut at tomorrow's ECB press conference, moments ago MarketNews reported that according to "sources" a rate change tomorrow is unlikely even amid a dip in Europe's inflation.
ECB SOURCES: RATE CHANGE THURSDAY UNLIKELY EVEN AMID INFLATION DIP
— MNI Eurozone (@MNIEurozone) November 6, 2013
Bloomberg adds:
- MarketNews report cites senior Eurosystem source as saying ECB will want to avoid over-reacting to fast-changing economic signals and avoid Fed Taper error.
- Report cites senior Eurosystem source as saying ECB will want to avoid over-reacting to fast-changing economic signals.
- ECB does not make “hasty moves or take decisions with short-term value,” report cites source as saying; said Fed announced plan to start tapering QE “too early”
The flashing red headline, as this non-news was picked up by the algos, was enough to send the EUR, and naturally the all important EURJPY spiking by another 40 pips, and taking the correlated US equity markets, right along with it pushing the Dow Jones to a fresh record high.
And that concludes your "fundamental trading" lesson for the day.
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Hey - that information was supposed to be leaked to insiders only.
Who says the insiders didn't got informed about a rate cut anyway?
ANYWAY THE DRAGHI BLOWS!
If this isn't a sure sign of obscenely high bullishness, then what is when all it takes is for something as benign as no ECB rate cut to cause such buying??
Unbelievable! It just goes to show the desperation to buy, buy, buy now.
And soon to be replaced with desperation to sell, sell, sell when these buyers realize they're holding the bag!
BTMFATH (Obligatory)
POMF.... Plus One Mo Fro
Yes. I am amazed that the E.Z. hasn't gone to war of collateral requirements yet.
mostly because we are engaged in a war of "repatriation of collateral", at the moment. yet to come back to the article: why is this so strange or unexpected? I wrote myself here not long ago that the ECB has no reason to change anything, at the moment
it's the FED and the BoE - among others - that abhor the "zero inflation" point of the chart - being so near to the dreaded deflation
the ECB has only one mandate: price stability. I repeat: + 0.7% CPI (including energy & food) or minus 0.7% CPI, it's irrelevant, as long as price stability is kept
Correct, and so long as the commodity suppliers can still deliver, it will hold.
Tick tock (for the entire western world).
that's why having a slight trade surplus is so damn important
during their obscene RE bubble the Irish stopped exporting their delicious Angus beef. as soon as the crisis hit (remember the Anglo-Irish banker that took his number out of his ass?) they resumed exporting. what was "normal"? I'd say if you see a high quality product that has no export, you see a country that is "valuing itself too dearly"
methinks headbanger's comment is spot on "If this isn't a sure sign of obscenely high bullishness, then what is when all it takes is for something as benign as no ECB rate cut to cause such buying??"
Yet my understanding is that Tyler thinks differently, particularly on the "benign" part. we'll see
So, a currency crisis it will be then. Probably better for TPTB as there will be no clear entity to blame when essential commodities can simply no longer be delivered. Humanity, it would appear, never learns. hedge accordingly.
I'm getting ready to put on my first short position in a long time. I am just waiting for the 10% santa rally and the 10% start of the year rally. Then I will short the April 4% correction while I simultaneously buy the dip.
Don't do it, the "markets" are going to go sky high for a while as they are now starting to reflect the coming hyperinflation (regardless of the world governments bogus inflation numbers).
Laszlo was right after all
The world is recognizing that the world's bond markets are dead, period, and there is no true price discovery. There are only central banks printing the world over. Zimbabwe market will feed on itself now.
hedge accordingly.
Buy the highs, buy the upshoots!
Hm, pretty smart thinking!!
I was planning a put also but I think you're right about that Santa moron rally!
It's been a long time for me also since I shorted anything.
>> I will short the April 4% correction
Why make it so complicated? Just short the fuck out of gold every time it raises it's head.
And in the meantime of waiting? Aren't you buying the FATH?
Selling the bounces on EJ...
:D
I'm back to eating good ole butter ever since that study came out about natural fats being better than synthetic ones.
More fun and less bad stuff until they change their minds again.
It's not the fat that makes you fat, falak. It's the refined sugar that makes you fat.
Oils, olefins and all that slip right through the gut virtually unnoticed. Cholesterol is brain food and it only becomes a problem when your own body makes too much of the stuff.
Besides, escargot sauteed in I Can't Believe It's Not Butter? Non, merci.
:0
>> it only becomes a problem when your own body makes too much of the stuff.
Very true, but the fuel your body uses to make cholesterol is saturated fat. I have genetically very high cholesterol. The only way, non-pharma, that I can control i is a very low saturated fat diet with lot's of exercise. Saturated fat diet = high cholesterol.
Have you not tried Red Yeast Rice? Works very well, and you'll be fucking BIg Pharma at the same time.
>> Red Yeast Rice
Had not heard of it so I did a little checking. It might be right for some but I don't think it's for me. I've had severe reactions to statins and simply will not take any. It appears the red yeast rice extract is a statin, which leaves me leery. Not because I'm skeptical of red yeast rice's effects, but because of my reactions to statins.
" In 2007, the FDA asked that three red yeast rice products -- Cholestrix by Sunburst Organics and two red yeast rice formulations by Swanson Healthcare Products (Red Yeast Rice and Red Yeast Rice/Policosonal Complex) -- be withdrawn from the market because they contained lovastatin."
But the same site does note surprisingly good results.
Due to my particular body chemistry I'll have to stick with my low saturated fat/high exercise diet and take my heart attack when it comes like a man. Besides, I'm a boomer. One less boomer is a good thing. I just want to outlive my dog by a nano-second.
As you might expect, Big Pharma lobbied strongly in an attempt to get RYR banned. They couldn't stand the fact that it is often as efficacious as their vastly more expensive, and less natural Statin products. Luckily they have been unsuccessful thus far.
Your approach is certainly the healthies in any case.
Your body absorbs cholesterol from meats and animal fat that contains it. Your body also can synthesize it from olive oil (which can contain large amounts of squalene). Your body can also make it through synthesis from vinegar (acetic acid).
>> Your body also can synthesize it from olive oil
"Can" I guess leaves a lot to the translation. In general olive oil is considered very good for cholesterol.
From the Mayo Clinic:
Cholesterol: Top 5 foods to lower your numbers 4. Olive oilOlive oil contains a potent mix of antioxidants that can lower your "bad" (LDL) cholesterol but leave your "good" (HDL) cholesterol untouched.
Try using about 2 tablespoons (23 grams) of olive oil a day in place of other fats in your diet to get its heart-healthy benefits. To add olive oil to your diet, you can saute vegetables in it, add it to a marinade or mix it with vinegar as a salad dressing. You can also use olive oil as a substitute for butter when basting meat or as a dip for bread. Olive oil is high in calories, so don't eat more than the recommended amount.
The cholesterol-lowering effects of olive oil are even greater if you choose extra-virgin olive oil, meaning the oil is less processed and contains more heart-healthy antioxidants. But keep in mind that "light" olive oils are usually more processed than extra-virgin or virgin olive oils and are lighter in color, not fat or calories.
too true about escargots, Orly. If u eat oysters and brown crunchy rye bread with real butter on it its just as good.
Good bye subs, no more marge with shell fish.
keep to the French eating habits, falak. eat slowly, little portions of good, genuine food, candlelight, think about sex during the meal
>> think about sex during the meal
The French cheat. When you can smell your date's pussy while eating dinner it's easier to keep your mind on sex.
it makes it also easier to keep staring in her eyes, which then again makes is easier...
lol, ghordius you are spot on about oysters.
Our food is mostly home made as my other half loves to cook. When we eat out its for fresh food in typical restaurants that make some dish "like grandmother did"; like Bouillabaise or fish soup or grilled fish fresh from port. I am not far from the coast. The local restaurants really make good fresh stuff mostly cooked in olive oil.
Fish, home grown chicken and red meat from time to time. Nothing like grilled red tuna thick and browned like a steak.We use the "plancha" which cooks electric and very lean.
Prost!
Or better yet I eat salmon, ahi tuna, and mahi mahi thin-sliced and raw, with a little bit of soy and wasabi. Maybe not traditional but whadda lunch.
Or better yet I eat salmon, ahi tuna, and mahi mahi thin-sliced and raw, with a little bit of soy and wasabi. Maybe not traditional but whadda lunch.
beyond beyond even Ayn Rand was never that randy.
Fundamentals....LOL..WTF are fundamentals?
The only fundamental is the central banks. Nothing else matters.
New Normal sell signal, all the bad news is priced in.
Doc, it's fun-for-da-mentals - that's what they mean by fundamentals. It's what the cool-kid banksters are saying these days. The psychopaths that run this country are having a blast.
Our damn potatoe prices doubled this year!
Low inflation my butt :(
you paid an extra premium for the e
>> an extra premium for the e
The ubiquitious Dan Quayle tax
AND BEER PRICES ALSO ROSE AGAIN THIS MONTH!!!
PRETTY SOON COCAINE WILL BE CHEAPER THAN BEER!
...... Because "they" don't ring a bell at the top.
DING DING DING... Bitchezzz.
When these central bank pricks said more communication I didn't know that included telling everyone the day before!!!. As posted higher up normally the insiders get the nod first, a few seconds early. Not a full day early. Wankers
actually it's still Bloomberg citing MarketNews citing an unknown senior EuroSystem source. so it's a rumour
more properly, it's an American corp citing a Canadian corp citing an unknown European cb official
Just like Zimbabwe, especially now that the world recognizes that all bond "markets" are bogus.
Ditto for the crude oil "markets " ( not that we didn't already know it )
http://www.bloomberg.com/news/2013-11-06/brent-crude-traders-claim-proof-bfoe-boys-rigged-market.html
Top calls for quite some time now.
Fund managers and banksters want a nice fat year-end bonus. It's what the central banks are delivering.
Be Safe.
BTFATH It's only software.
No Fear.
Get real. Rates are moot, a complete sideshow.
The only plan in town is print, print, PRINT the way out of fraud, broken markets, and confidence!
Politics is bought and paid for, thus any expectation whatsoever of another direction is dead on arrival.
You're poor. You don't count. If you are under 50 you are a generation of Fascist shit-eaters.
and the rich just keep getting richer
Yes, and they/we will get exponentially richer now.
the good news; we will all be trillionaires.
the bad news; we will all be trillionaires.
I ain't fightin the Fed, but I've got one foot out the door.
Excuse me while I say good morning to my stack.
yea sources defenitly know
and
if you know you dont tell, if you tell you dont know
So the ECB putting rates up to 5% would send the S&P to 2,000+ and solve the housing crisis?
Looks like a "sell the news" event to me, in the equity markets. (unless dragqueen announces LTRO2)
Nobody is going to buy my house, but I can invest $20k in Netflix and hopefully another year will see 450% returns. Or maybe invest it in Bitcoin and see it go to over $1500 per coin.
Then I can buy my own house.
Still doesn't solve the problem of needing to sell my house to someone else so I can move for a new job.
correct, nor does it solve the problem of falling wages and the hungry/angry mobs whose population is growing...