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T Minus 60 Minutes: This Is Where The Market Stands Right Now
The anxiety is palpable (despite the constant reassurance that it's all priced in) as markets are getting jittery. Stocks are sliding back to unchanged (on the heels of AUDJPY weakness); VIX is flat at 2-month highs; bonds are notably weaker (not helped by the dismal 5Y auction); and gold and silver are oscillating (on the rise in the last few minutes).
The S&P and the Nasdaq are at crucial levels once again...
as a gentle reminder...
What happens when there's no one left to sell to?
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BUY NOW OR BE PRICED OUT FOREVER!
I'm sure that was the rallying cry in Zimbabwe as well.
Turned out well don't you think ?
.
Dog and pony show with a bearded racoon as ring leader. Who cares if taper on or off? The economy is in the tank, banks are insolvent. Weasel out of that Ben, you prick.
I didn't get the "anxiety is palpable" bit. This was all planned, this was all directed. Its like watching a familiar play in which the actors do exactly what is expected.
Gold and Silver Popping Now:
Live Gold: http://www.pmbull.com/gold-price/
Live Silver: http://www.pmbull.com/silver-price/
Counter-moves before the release, or was the actual release whispered to somebody?
Or does the release not even matter. It will be moved where "THEY" want it to go?
I wonder if Hilsenrath is writing his report on the Fed's announcement right now.
Expected by who? The US Government??
The Federal reserve is owned mostly by the big banks. And they're done soaking up the flood of debt to support Obama now that he's politically meaningless.
Bernanke will announce an increase in QEasing to 190 billion USD per month and sheepishly proclaim that Yellen made him do it at knife point, before running off into the sunset.
Ppt and ben always buy bidless markets
There's only anxiety for the suckers. There will of course be no taper.
ZOMG!11-eleventy!!! No taper?!? But there MUST be a taper! How can there be no taper?!?
Are there any bets yet on how high the S&P pops if/when no Taper is announced?
New high today or tomorrow?
At least 1%. Even though most here can see it coming.
We only have 1 at this price and inventory is moving fast. What can I do to put you in this market today?
Ok let me go talk to my manager....
I thought the PDs got the FOMC minutes yesterday?!?!
They said that about houses. . .
Ooh, the suspense!
I still say no taper yet.
Not only will there be no taper, they will even introduce doubt about April.
They'll say no taper now... but MAYBE in April. And then they'll add a taper that's so hilariously insignificant that it proves they're completely fucked.
The economic data looks like no taper. And most analysts say no taper this time.
But I like to be contrarian. If the Fed keeps talking about tapering without doing it they loose credibility. So I think a really small taper could be possible this time, just because the Fed wants to show they are not just all talk.
So I am positioned for a taper of around 5-10 b/m. No taper would be ok by me. And a really big taper would be fun...
he is not going to say what he is really doing.
"When it gets serious you have to lie".
they might not know what they're doing. they might do that anyways. the "dumb policy" says "if it works who cares why/why not." the "smart policy" says "this is what we want...you do that. not even if it doesn't work...especially if it doesn't work." I thought this would be a real yawner...wrong again.
Do yourself a favor and BUY NOW!!! BTFATH! Every HF manager ready to do it too... don't think otherwise.
<<< Taper talk
<<< Taper walk
"We are closely monitoring economic conditions, and we may adjust the level of asset purchases early next year."
Exactly. If they were going to do a token taper - last time would have been better. Every single quarter is going to be worse from here on out - so the chances of tapering is pretty low IMHO.
T minus 4 minutes and silver droped 1% in seconds...
...and fully retraced at T minus 1 minute. and back down 2.5% at T=0. AND it's a Taper light.
update. after 3 minutes, silver again above 20 dollars. it's crazy out in algoland.
Buy SPY sell USO
All was quiet, not even a RAT
Just Look at that 10Y. I dare you Ben !!!!
My prediction: they announce a small taper, like 5 bil over the next 6 months.
Then spew rhetoric how they can change that policy at any time if conditions weaken.
They need to taper a little to show credibility. To prove all the Peter Schiffs ("they will never taper!") wrong. Otherwise, they become the FED who cried wolf. And they're perilously close to that. Also, it would make everyone rush to buy/lock in interest rates, so it might boost certain sectors in the short run, so the FED can claim victory once again. Expect a small taper.
Gold and Bonds are signalling no taper.
They will announce a taper of 10 million USD monthly.
So, they'll keep doing 84 billion 990 million in bond purchases.
I agree. Credibility is important for the Fed. And they also need to show they are in control. If they keep postponing tapering, markets may think they are loosing control, and bond rates will begin to rise anyway.
No offense since I like Gold too, but it could not fight it's way out of a wet paper sack right now. Hardly an indicator of what the FED may or may not do.
I think we have reached a permanent higher plateau in equity valuations.
Would love to see them announce no taper and stocks sell off hard anyway.
That would be perfect.
Premature Evacuation
It's like a game of musical chairs, where there are millions of players and a few (one?) chairs.
There will be a 'lucky' few who will get to sit out the downdraft when the music stops.
Marshmallows over the fire. Check. Multiple trading positions on. Check.
Taper or no taper, the PTB will naked short the shit out of metals about a thousandth of a second prior to the announcement.
T Minus 59 Minutes for your inside players.
59:59:999 - those HFT computers don't need much of a headstart.
Patented pre-release spike in gold, followed by the mandatory post-release waterfall. Come on miners, a little faux rally to short into would be fine.
Jonh Hellacious breath is putting the finishing edit on his summary due out at 2:00:05 eastern time
No taper means a small bounce up and then more uncertainty. Ultimately not good for market. Not like I facking care though. I'm out and been out for a while.
i hope XMAS is ruined. i fucking hate holidays.
But ToysRUS and KOHLS will be open 24/7 till D-Day!
>> i hope XMAS is ruined.
I know there is one Jap guy who's got a ruined Christmas. I doubt his wife will notice, until his credit card no loger totes the load.
cycle inversion =no taper
no taper of course, but it would be funny if they just came out and said " hey, we pulling the plug entirely"
then the DOW bottoms out in the time it takes a Porsche 911 gt to get from 0 to 60.
now, that would be entertaining, yes?
yeah if they taper the goverment and banks are fucked
Holy Hellalulu. Some fool out there thinks stock prices have something to do with people.
The price of gold has to do with Bitcoin and the Super Geniuses at the PBOC just figured out that the FED shoveled them a load of shit when they sold them the United States of America gold reserves (as well as Germany's). They'll be stuck with the raw material for, circuit boards and jewlry, if bitcoin becomes a world currency.
If there is any hint at a change in QE 4ever, it will be that they're thinking of actually increasing the amount by $15-25 Billion USD per month....talk of taper is funny though---everyone knows they can't taper & so they won't. Simple as that.
It could still be worse than taper anxiety... The top posting on reddit's /r/bitcoin is the number to the national suicide hotline.
Can't wait to see the PM moves (no taper is probably what, +1%? Taper on, -10%?)
BTFAT dip before they announce no - taper.
Benjy wants to go out on a high, and the banks are still insolvent. Watch him goose this bitch to dow 40,000.
taper ha ha, thats funny.
as faber said yesterday, there will only be an increase, no decrease.
Gold was flat to down on the day and is now positive. What's that dripping noise? Do I hear a leak?
There will !00% NOT be a taper of any sorts. It will be more jawboning..there is no chance Ben does not want to hand the hot potato to Yellen and make his exit at all time highs on the Ponzi Index because to him that is all he believes matters because he is lining up for his 500k a speech at the big banks and maybe a few no show board positions with stock options...NOW he is about to receive his payout for giving the bosses what they wanted all along..free money and wealth transfer and he is about to get his cut.
Nobody on Wall Street expects a taper because there can be no taper and I agree they will pretend they make begin to taper in January with a more likely target of March and maybe April..It is all about faking it till you make it or until you break it OR RATHER it Breaks you. Token taper in spring and then an increase in purchases by summer.
There is no out..ONLY IN.
Remember, tapering is actually good for stocks. So let's rally!
Double POMO day tomorrow. I doubt those yearend bonuses are at risk. January may be a different story.
Gold caught a bid right at 1:00pm EST... Someone got the Fed minutes ahead of time...
And continues. Interesting.
Ah, yet another few moments where the entire global financial community waits on pins and needles for what our masters are prepared to tell us. Just think we are waiting for a) the opinion/decision of ONE human being or perhaps a small group of humans, and b) that decision concerns how much more or less per month in USD will be printed out of thin air on top of the trillions already printed. God bless America! Just a matter of time before the current system is toppled and replaced. has anyone seen anything more absurd than this situation?
So does Ben say to himself. I think I'd rather Yellen be the Fall Guy right before Christmas? After all, whats another month of ripping off the country.
Hellooooo....... yo anyone know if Dimon has finished his Christmas shopping?
There goes silver. Somebody knows something.
...and there it goes the other way.
And bam gold flips
Nifty double head fake and someone left their shoes on the playing field.
Ah yes. So much easier when you got the play book. Twas well played by somebody.
Gold spike/smack at :55
what is being missed is that even if they taper $10bn, there is still no expectation they will ever tighten again. they'll give us the $10bn to calm people down, but we'll never see another tightening.
Even if they announce a taper how do we know that they actually reduce the amount they print per month? in fact, how much are they printing per month? this whole thing has gone way beyond any level of credibility. if they agree to an audit and prove me wrong then I can live with that.
IF they taper they will make up for it some other way.
No taper, some other BS plan.
Maybe more QE.
After this the chances of future tappering is 0.