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As Expected, POMO Sparks Buying Frenzy In US Stocks
Having quietly limped back to retrace the jobs report losses, US equities were beginning to fade back in hurry when we tweeted the market's desparation for a POMO stick-save... sure enough, 2 minutes later, as POMO started, S&P 500 futures took off in an uninterrrupted 13 point surge higher (with bonds, FX, and gold all continuing their 'taper-on' post-payrolls trends ignoring the idiocy in stocks)...
As an FYI - yesterday's closing VWAP was 1757 for S&P 500 futures and we suspect this is machines desperate to cover their costs on yesterday's selling... expect resistance..
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I knew ZH would be on this. POMO bitchez!
I love the smell of POMO in the morning. It's the smell of victory.
Pomo sounds very obscene to a man used to a normal screen and whose left hand does not efface what his right hand does.
I saw a film with a killer called "Molly", a name that belied his Mafia hit man modus operandi; anything but "hello dolly" when he "neutralised" a victim.
Pomo is closer to homo than it is to Omo, but I have a feeling its the greatest agent for white washing dicy bonds disguised into Fed held "assets" by this open ended invitation to fleece the public. Any TBTF walks away with brand new money for offloading his pot of toxic money-honey.
Pomo is a transmissable financial disease of huge magnitude to the many, by the FED as AGENT of Treasury, all to save the "happy few" from ending up like a Molly victim in that film.
For once I'd be on Molly's side.
PS : The key words in TD post's heading is "as expected"; that is soooo...Mafia style; its the horse's head on the bed!
up arrow for best of day analog-thanks...
soon to be a classic: "I love the smell of POMO in the morning"
It ain't easy being green...unless you are a Muppet-slayer!
Time to go home. Absolutly no need to be in the office, monitor screens, or pretend that there is anything meriting my attention. All is well in hand, and the easy money will flow forever. Time to get my weekend on!
Yup and Gold continues to get slammed, along with the VIX. All based on the ADP number being "good". BUT unemployment rose even in the fictitious number, so as usual the whole thing is algo driven utter bullshit
Just when we thought all the bad news was priced in, labor force and confidence down. You can't keep a new normal market down for long, bad is good, real bad is better. Look at the Boner on JpDimon this morning.
Equities off chasing the dragon again as mega doses of fresh pure Bolivian hopium was mainlined to them.
hrat also calls the jobs number "fluky", which of course helped light the ignition. how does one get the title :fed watcher" anyways? suck a bunch of cock? think thats bad? he's going to have to sleep with that fat cow yellen in a few months. sorry, but no job is worth that much torture!!
But why isn't my TWTR up? Well, that's ok, I'm sure by the end of the day it will bounce back - after all, I've been told it's a great company, and everybody sure wanted it yesterday....
That's 188 characters; you're undermining your own interests.
I guess consumer sentiment doesn't matter either, when you have $5 billion being pumped into the casino.
06:55 USD Michigan Consumer Sentiment 72.0 74.5 73.2 06:55 USD Michigan Current Conditions 87.2 90.0 89.9That was easy, just front-run the Fed. IPO fever.
Banks should be borrowing that QE money from the fed and making it disappear. Buy assets overseas and hide transfers.
Printed money and losses go together. How can you loose money that never existed? After all there is no honor among thieves.
Go for it bankers, Take all that QE money, cook your books and make it disappear as a loss. THe Fed just won't claim it on their balance sheet.
Today is a big POMO day too, and shorter end:
Nov 08, 2013 Outright Treasury Coupon Purchases 08/15/2018 - 07/31/2019 $4.75 - $5.75 billion
Stocks straight up, so tiring.
Got to give the Fed credit, these melt-up are something. Just stay out of the way,everybody knows this will end badly but not today.
"everybody knows this will end badly but not today' - Plenty of government budgets need to be funded around the world.
What's the yield of sovereign debt looking like?
Tick tock motherfuckers...
I remember when 13 points on the S & P actually meant something.
Remember when gold tracked the Fed's balance sheet perfectly until it didn't? Expect the same for stocks. The next Fed move is more QE not taper. Zero coupon long bonds look good here. Economy is stalled out. I expect a flattening of the yield curve.
"I expect a flattening of the yield curve" - I agree. The question is whether or not the rest of the world will have a problem with the Fed buying 100% of the issuance.
Tick tock motherfuckers...
guarantee these criminals will wipe out all the losses from yesterday, the fuckers that they r.
i want them all to die so badly.
No need to get upset, just have to learn the system, make your currency the same way they do, day trade it, ride the algos, and make a couple hundred a day by gettin sum o dem dividends...
If you cant beat the machines, become one, at least that way you can have fun on the ups and downs on the rollercoaster instead of getting sick watching it.
Silver and Gold phyzz, Bitchez!!! Get outta the banking system while you still can and grab onto as much phyzz as possible.
You have 37 business days left before the mother of all screw-jobs takes effect on January 1st...all bank accounts become the sole property of the banks and are subject to their lawful/unlawful confiscation (Bail-Ins, bitchez) if your bank declares bankruptcy...and you won't get shit back because you're money will be the first to be stolen and last to be paid back at pennies on the dollar in worthless bank stock. They're going to steal it all folks...you have very little time left to get outta the system and stack as much phyzz as you possibly can. Food, ammo, guns too, etc...
And luckily enough it's not only pay day (for me), but it's also BTFD day...time to take another 20oz's of Ag out of circulation!!!
New write-up from SRSroccoReport.com
The Coming Big Change in Gold Investinghttp://srsroccoreport.com/the-coming-big-change-in-gold-investing/the-coming-big-change-in-gold-investing/
Have a great weekend and get your asses outta the system as soon as possible next week!
MO POMO!!!!!
NO MO JOBS!!!!!
One day bounce to squeeze the shorts and show the world that "the market CAN still go up in the face of rising rates!!!" Won't last.
If the bankers are buying everything up with counterfeit money, after we bring them to justice--after the revolution, how are we going to redistribute their stolen wealth. Like all the artworks they are buying with money obtained through FRAUD. That is something people should be looking into now as the collapse is underway.
3:30 S&P RAMP now underway....!