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Mission Accomplished At Market Open: S&P 1,800; Dow 16,000
Thanks to some overnght levitation (and in spite of major outflows from foreigner from the US as seen in the TIC data), US equities have opened this morning to new all-time highs. As "investors" watched in disappointment on Friday at the 'miss', the opening this morning - amid a double POMO day - has lifted the Dow above 16,000 and the S&P 500 above 1,800 for the first time ever (now up around 10% from the debt-ceiling lows in the last month). The S&P 500 has seen a 3x rise in the multiple this year... still chepa though, right? Caracas here we come...
S&P 500 1,800
Nearing The Fed's year-end target...
Dow Jones Industrials 16,000
It's been a good few weeks off the debt ceiling lows
(oh wait - isn't there another debt ceiling/budget debate in a month?)
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Check. Now it's time for the Fed to beat interest rates back down. If you thought ZIRP was good, you are going to love NIRP.
Everyone's participation trophy is in the mail.....enjoy!
Zero Hedge itself showed Barron's front cover showing their prediction of Dow 16,000.
Buy this dip @ $1,796? /sarc
Be careful what I wish for... maybe this morning *was* the dip.... What a stupid "market" we have.
Little wonder. Sheeple are being advised by evey corner, including sites such as Puplava's financial sense to plow into stocks as the only game in town.... leading sheep to slaughter. Shades of NASDAQ in 1999.
It won't crash down. It will go up higher and higher but it will be worth less and less. If you still accept the paper ponzi at face value, that's your fault.
This drama has only one ending. A massive printfest to cover all debts and liabilities and hyperinflation. Any tinkering with either rates or the amount of QE delivered on a monthly basis would destroy the illusion and bring on a default by name.
It's still a default technically. I don't fucking care what the paper price of PMs is as long as I can find a seller willing to give me something tangible for the ponzi paper. Who knows for how much longer?
But look over there! The S&P is making a new higher high. Excuse me while I vomit into a stack of $100 bills.
Now that we've hit 16,000 on the Dow virtual reality arcade game we all get a free credit, right?
I'm getting the hunch that this is the "told you so" moment for the Fed which now gives them the "right" to taper.
Because the Fed said the S&P would hit 1800 and so if you're not smart enough to get out now, then it's your fault, not theirs!
The Fed delivered as promised and so good luck and good bye!
Are all the muppets in now?
Oh good! Close the hatch and let er sink!
And notice VIX is rising a bit now?
http://www.marketwatch.com/investing/Index/VIX
Yeah, look at VIX, up 5%. Now look at VXX... (the vehicle used to trade VIX)... DOWN 1.23%, and UVXY (ultra VIX)... DOWN 2.64%.
I don't know if there exists a VIX vehicle that doesn't decay.
If this was 2012 (ie, hindsight being 20-20), I'd set up puts on VXX and RIDE THE DECAY all year - DOWN 63% so far this year.
I hear ya.. I'm also wondering if any measurable dip from here of say 5% will be seen as much more suspicious now that the Fed promised target of 1800 has been reached?
Sometimes all it takes is one head in the herd starts running and cause a stampede.
Being your typical jobless teenage ZH contributor living in Mom's basement, I was able to convince my Mom to pay from my new iFad. I bid it up 10% one week later by drawing a check on my my allowance and found out I was consequently 10% richer. The following week, I had the brilliant idea of selling my iFad to myself for another 10% markup. And then it hit me: if I just kept doing this, I will soon be the richest person on earth.
This is exciting... I will keep you posted guys.
Housing sales are tumbling...they need moar Zero Down, EZ-2-Get Loans.
VERY SAD TO WATCH
Sad?! Fuck that! The shit is downright nauseating in it's criminality.
"Caracas here we come..."
Just don't forget to stuff your carry on with rolls and rolls of soft and scented 3-ply. Should be able to get your fill of hookers and blow with that.
Now crash BITCH !!!
Nahh...maybe a pause while Nero changes the strings on the violin.
LoL!
T-Shirt: Yellen 4 MOAR!
gravity will take effect mighty soon..
Soooo...I guess that it? the economy is fixed? Tesla's and McMansions for everyone?
i fell lucky
Well do ya punk?
Is it time to donate my crusty Dow 10K hat to the Salvation Army ?
NOBODY WANTS THAT BECAUSE IT ONLY REMINDS THEM OF THE BAD TIMES!!!
total debt was at 10 trillion back than...
unemployment was at 6%...
Obama didn't completly destroy the US yet...
they could listen to your phonecall without you knowing...
Give it to the Smithsonian.
Keep it you will probably be able to wear it again soon.
Dec Futures last stand.... 1799.50!
Come on DEC FUT!
1799.75!
Still holding!
“In another moment down went Alice after it, never once considering how in the world she was to get out again.”
Lewis Carroll, Alice's Adventures in Wonderland
WE DID IT!!!
YES, WE CAN!!!
TO INFINITY AND BEYOND!!
Meanwhile in the real world:
RJ Wilcox: China’s Central Bank Gold Reserves are Growing Rapidly
We are monitoring the situation with Gold demand from China as it is the main driver for the Gold market now. So far this demand has backed Gold to withstand the numerous attacks in the paper market to allow Janet Yellen to implement even more aggressive easing polices at the FED. Rising Gold price indicates FIAT currency debasement, pushes real interests up, which economy and fiscal budget can not sustain at the moment. These official Gold holdings numbers are already out of date and the question is how much Gold China really already holds now and you can add to it the state level encouragement for citizens to accumulate Gold in China. http://sufiy.blogspot.co.uk/2013/11/rj-wilcox-chinas-central-bank-gold.h...
Can't wait to see the Marines at Best Buy enforcing "fair" pricing.
Fucking criminals. We are witnessing theft on a massive scale. By doing this, I hope they spark civil unrest and it all backfires.
SNAP, Medicare, Social security, and the pentagon still need to be funded in January and they will consume the entire revenue stream. So long as the food and fuel can still be delivered, nothing changes.
This won't change until Mom & Pop investor lose their retirement chasing this thing. Then, despite the best efforts of the politicians, the focus will change from Gays, Guns, and God to "What happened to my future?" Check the price of tulips lately?
Metals....must...not....rise.....Metals...must...not....rise....
NOW PRINT THOSE CHARTS
STEP INTO YOUR BOSS HIS OFFICE
AND ASK A RAISE WHILE SHOWING HIM THOSE CHARTS!!!
why?
BECAUSE OBAMA SAYS SO!!!!
You numpties. The Dow is still only on a PE of 15 for 2013 and 16 for 2014. Stocks will rise as long as the forecast earnings are rising - which they are. Although earnings are getting continuously trimmed back they are still forecast to rise year on year 8%. THat's why the market is rsing - nothing to do with QE. QE has no effect on stocks. Perhaps the forecast earnings are wrong - but until the market sees they're wrong they will keep rsiing in line with them.
I give you high marks for introducing the ZH crowd to a variation of the word "numpty". The substance of your post, however, is moronic.
Absolutely right. The Fed is not printing money either, says Bloomberg:
http://pragcap.com/bloomberg-quantitative-easing-isnt-printing-money
/sarc
WHOEHAHAHAHAHAHAHAHAHA!!!
I LOVE YOU!! HAHAHAHAHA
PLEASE NEVER LEAVE THIS SITE!!!
THERE JUST AREN'T ENOUGH PRO'S LIKE YOU ON THIS SITE!!!
I'M THE ONE THAT UPPED YOU!!!
HEY, WHAT'S YOUR VIEW ON BITCOINS?!
Had to look that one up, good job on the excellent use of obscure words.
Also, excellent use of sarcasm and humor. I love the line "QE has no effect on stocks" this is hilarious.
Hey Praps, can't see your face covered by all that bubble wrap...that you Ben?
Listen you stupid fuck...QE ^ is holding interest rates down to zero and the Long bond at 2.5 - 3%. Does your pea brain have room for anything other than midlessly repeating propaganda bs from CNBC shills?
If so, the try and get some of your scarce fekin' gray matter around the fact that a zero cost of money (and a $1T of Fed Gov't deficit spending) will be spent in the US economy. Companies will borrow at effectively zero and buyback their own shares.
Remove QE and watch the long bond go to 4.5%, and then watch where the E in P/E goes....just for starters.
I see Muhammed Saeed al-Sahaf also signed up for ZH
ok but why is the Dow on a Per of 15 after trillions of QE? 15 is the historic average.
Perhaps you advocate the 'taper' (not to be confused with the tapir).
Completely coincidental correlation between the increase of the Fed's balance sheet through QE and the asset price appreciation through equity indices.
Exactly why any utterance of the word 'taper' never causes an instant nosedive of the pomo-fueled stock prices.
No one copuld possibly think this is healthy! These bastards have ruined this economy and destroyed the fair value of everything.
Well look at us now....we've gone full-Zimbabwe! I hope they're real proud of themselves.
Really bad lol
The Fed is destroying the naysayers like Karl Denninger of the Market-ticker with ever higher amounts of QE and stock market highs. Exactly opposite of what he said.
Even his favorite, Blackberry is getting destroyed.
The Fed is in the process of closing capitalism down.
Every dark cloud has a silver lining.
Sorry that isn't as impressive as Zimbawe....they are al totally rich there now because of super hyper booming market.
Wake me sometime next year when Dow is 1,600,000,000
and we all laughed at Laszlo Birinyi
who's laughing now?
that's hilarious...
Anything Bitcoin can do, we can do better...LOL
it's a race to the moon (or a race to the bottom?), but the tortoise (phyzz silver and gold) will win in the end.
Unfortunately, I can't participate in this bull market since my broker is a thief.
and as for Bitcoin
.gov is salivating at a perceived alternative to PMs (that they can regulate and manipulate from a desert in Utah
I think the internet kill switch will take care of Bitcoins one 'o these days...say maybe after enough sheep have bought into it and are nice and fat, ready to be fleeced once again. I hope that doesn't happen, but what would stop the criminals from doing it?
If they can steal "real" currency sitting in bank accounts for their new "bail-in" laws, then why can't they just shut down Bitcoin accounts and steal them as well? I'm sure they will find a way to make all Bitcoin accounts part of the "bail-in" laws going forward.
Tell Nancy Pelosi she is wasting her time with bankers and the stupid S&P. Start making donations to Washington D.C. politicians in BitCoin. Eventually she'll catch on to what's hip in town.
I looked at a graph of BitCoin with the vertical value max at $1,000,000 and it still looks undervalued to me.
idk, been out of the market since 2001 or so, I remember the euphoria before the so called "tech" correction. Wondering if this is the case again, if not worse.
edit: I know ZH has to make some money but these talking commercials that I can't mute are very irratating to me.
IF you are using firefox browser install the Ghostery add-on. Stops all the ads and the trackers running without your knowledge. You will be shocked at the trackers and analytics running on most websites.
So it's not just me. That is freaking annoying.
lol at this pomo shit.
its fascinating witnessing it as it happens.
stocks off there highs early, only to be leviated at 1015 exactly due to pomo.
too criminal not to laugh
Mission accomplished? Not quite yet... I think they will goose it a bit more.
http://www.financialsense.com/contributors/richard-duncan/fed-targeting-...
Interesting.
+55.
with all that money you just made you can buy a cabin in the middle of nowhere and start prepping. coz this Goliath is about to be slain.
To understand how long the Fed can continue to monetize U.S. government debt and keep interest rates suppressed without major risks, Richard points to Japan, where debt to GDP is near 250%.
“Japanese government debt increased from 60% of GDP in 1990 to now where it up to almost 250% of Japan’s GDP. U.S. government debt is only 100% of US GDP. So, the US government has the potential to continue borrowing and spending easily for the next decade before it’s anywhere near the levels of Japan’s government debt at the moment. So, the government does have the ability to continue directing the economy through fiscal spending and quantitative easing so long as inflation doesn’t rear its ugly head.”
As long as the inevitable somehow magically doesn't happen.....
I Believe the market will soon correct slightly then double top and then the big hit begins.