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What Are Stocks Doing?

Tyler Durden's picture




 

The US equity market took 16 hours to fall 15 points and 90 minutes this morning to recover amid an absolutely dismal retail sales print. The full bulltard farce of disastrous news being great news is writ large in stocks as they decouple from any FX carry or bond market sense of reality.

 

Bonds and stocks are no longer friends...

 

and FX carry is dislocated as S&P 500 futures "beta" to JPY doubles as stocks open (80 pips down in JPY and 14 point drop in ES...

40 pips up in JPY and 15 point rise in ES)

 

It does seem that stocks are circling around gold to some extent though...

 

One has to wonder at this clear level of total schizophrenia whether the analog that everyone loves to hate is on the cards...

 

 

Charts:Bloomberg

 

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Thu, 02/13/2014 - 12:16 | 4432397 pavman
pavman's picture

Last mad dash to crash!

Thu, 02/13/2014 - 12:17 | 4432418 kliguy38
kliguy38's picture

just lettin' the boyz finish off distribution..........itsa "process"........they'll hit the "switch" when they're ready

Thu, 02/13/2014 - 12:21 | 4432428 jbvtme
jbvtme's picture

they will reset the dollar (30% haircut) soon.  equities are a hedge and are melting up

Thu, 02/13/2014 - 12:23 | 4432445 Oh regional Indian
Oh regional Indian's picture

Gold and S&P chart looks like a valentine's pair having a bad date...I love you, I love you not....

But overall, what a time, to be alive in a mad mix of Dune+1984+Star Wars+.....

ideas?

Life imitating art...

ori

Thu, 02/13/2014 - 12:22 | 4432452 redpill
redpill's picture

Never go full retard S&P

Thu, 02/13/2014 - 12:30 | 4432486 Clint Liquor
Clint Liquor's picture

Off topic, but does anyone know what the new Debt Limit is? I have searched but can find nothing.

Thu, 02/13/2014 - 12:31 | 4432498 BoNeSxxx
BoNeSxxx's picture

Unless I sm mistaken, they didn't raise it... only suspended the debt ceiling for 12 months.

Thu, 02/13/2014 - 12:34 | 4432510 max2205
max2205's picture

Looking for the bull trap.....seems likely but must hit all time highs again.  

Thu, 02/13/2014 - 12:40 | 4432552 fonestar
fonestar's picture

What are stawks doing?

Trading the privilige of having the reserve currency of the world for nominal all time highs.

Thu, 02/13/2014 - 12:45 | 4432575 TruthInSunshine
TruthInSunshine's picture

Yellen's gasping for air like a fish out of water.

Don't fear the taper.

Thu, 02/13/2014 - 14:00 | 4432952 derek_vineyard
derek_vineyard's picture

wake me when its over

Thu, 02/13/2014 - 12:32 | 4432511 Oh regional Indian
Oh regional Indian's picture

A suspended ceiling. Oxymoron or Freemasonic magic...

An illusion perhaps...

 

ori

Thu, 02/13/2014 - 12:39 | 4432542 Spastica Rex
Spastica Rex's picture

I put a black and white tile floor in my kitchen last summer.

Thu, 02/13/2014 - 12:46 | 4432580 PeeramidIdeologies
PeeramidIdeologies's picture

Exactly man, look at stocks! Look at stocks! Just don't look at Europe. Or JPM...

Thu, 02/13/2014 - 13:11 | 4432683 Oh regional Indian
Oh regional Indian's picture

@SRex: I always had my doubts about Bob Dobbs and the CIA. It's toooooooo damn clever and gripping. I was mesmerised by one of their speakers at my one and only visit to Burning Man...

Fully Ma Sonic Boom, Tyler (yes, Tyler is a masonic degree, from Tiler, Tyler)... Durden you know?

Thu, 02/13/2014 - 13:14 | 4432707 Spastica Rex
Spastica Rex's picture

It wasn't symbolic, it was vinyl, and it cost about $350 USD, including adhesive and incidentals. I've had it for about 6 months now, and I'm pretty impressed with old-fashioned vinyl tile. Highly recommend it to other "poor" people.

Thu, 02/13/2014 - 13:18 | 4432712 forwardho
forwardho's picture

+1 for relevant post!

Thu, 02/13/2014 - 13:35 | 4432826 Renewable Life
Renewable Life's picture

Geezus you got to love that!!! Now who doesn't think the .gov knows something us little peasants haven't been clued in on yet ???

They pass this shit, without a peep from the GOP leadership and it's clean as a whistle, no strings attached!! Come on man, if you can't see this shit coming from 5000 ft up, your fucking blind!!

Unlimited spending for a year, ya government and corporations totally live responsibly under those conditions, don't they???

Thu, 02/13/2014 - 16:14 | 4433525 zaphod42
zaphod42's picture

"...suspended the debt ceiling for 12 months."

That means, for 12 months there is NO limit!  We can party all night long!

And, what else can we do with money?  Buy gold, which is no fun and just holds its value.  Or, buy stocks!  They can go up, and up, and up... never down, of course, in this the best of all possible markets.

Enjoy folks.  The ride is about to get "interesting." 

Popcorn, anyone?

Craig

Thu, 02/13/2014 - 12:33 | 4432504 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Whatever they want it to be. I doubt a fixed number even exists anymore.

Thu, 02/13/2014 - 16:21 | 4433566 zaphod42
zaphod42's picture

You got it right, TUY.  No 'fixed number.'  And, of course, the 'fix' is in. 

There are no limits.  It is now official.  What is it about none that everyone has difficulty understanding?  Debt can go as high as ... well however high 'they' want.

So, let's say 'they' decide to buy back all the bad assets held by the banksters.  No limit.  Send a man to Mars?  No limit.  Pay off all of 'their' cronies?  Again, no limit. 

Scary shit, I'd say!  And about to hit something rotating behind you.  Get ready to duck!!!!

Craig

Thu, 02/13/2014 - 12:46 | 4432574 Dr. Engali
Dr. Engali's picture

They suspendd it until March of 2015. They don't want a pesky thing like debt brought up during the elections.

Thu, 02/13/2014 - 12:46 | 4432578 fonzannoon
fonzannoon's picture

locked!

I have officially lost it.

Thu, 02/13/2014 - 12:49 | 4432589 Dr. Engali
Dr. Engali's picture

Damn you Fonz! I knew it was you the moment I tried to edit. 

Thu, 02/13/2014 - 12:52 | 4432608 fonzannoon
fonzannoon's picture

these errors will live on forever now. You will wake up many nights in a cold sweat and visit these threads and....hang on my roof just collapsed from the snow...

and wish you could edit this...and there is nothing you can....my power just went out....do about it because....it's getting cold....

what was I saying?

Thu, 02/13/2014 - 12:56 | 4432625 manofthenorth
manofthenorth's picture

" To infinity and beyond ! " Economic idiocracy.

President Camacho: Now I understand everyone's shit's emotional right now. But I've got a 3 point plan that's going to fix EVERYTHING.

Congressman #1: Break it down, Camacho!

President Camacho: Number 1: We've got this guy Not Sure. Number 2: He's got a higher IQ than ANY MAN ALIVE. and Number 3: He's going to fix EVERYTHING.

I am just grateful to be out of this tragic comedy of a market before it goes full Shakespeare. Liquidated the last paper at 16K+ dow and turned it into 2 under 12k monster boxes with a small stack of FRNs left over. ONE HAPPY MINER !

Narrator: The years passed, mankind became stupider at a frightening rate. Some had high hopes the genetic engineering would correct this trend in evolution, but sadly the greatest minds and resources where focused on conquering hair loss and prolonging erections.

Thu, 02/13/2014 - 12:59 | 4432638 KickIce
KickIce's picture

There's no budget, no spending limit, no gold standard and most Americans continue to have 100% faith a FRN.

SNAFU for short.

Thu, 02/13/2014 - 14:35 | 4433046 X_mloclaM
X_mloclaM's picture

right, suspended, as it's increased to the extent that congress allows the expense prior to March 16, 2015, then debt can be issued to pay for it beyond that date 

http://www.gpo.gov/fdsys/pkg/BILLS-113s540enr/pdf/BILLS-113s540enr.pdf

Thu, 02/13/2014 - 12:42 | 4432496 holgerdanske
holgerdanske's picture

It is really rather simple. the government is printing money out of nowhere and they are buying shares with the money. So for them it is cheap, they get productive assets for nothing! And for the man in the street, it is the usual. Your pension, your savings and anything thought of as decent and hardworking is thrown out of the window.

This can continue until people loose the faith in fiat, and that can be a long way off! What is remarkable is that gold has not raced ahead, because this is pure inflation in the making.

For anyone who doubts this, have a look at the meteoric rise of the stock market in Zimbabwe, or, to a lesser degree, in Japan.

We are seeing inflation of unknown ferocity being made in front of our eyes! If this is not going to make you buy gold,what is??

 

Thu, 02/13/2014 - 15:33 | 4433372 bagehot99
bagehot99's picture

Gold is for paranoids and trinketry. I was told that by a Socialist.

Thu, 02/13/2014 - 16:27 | 4433594 zaphod42
zaphod42's picture

There are times that gold is a good investment; there are times it is not so good.  But it is never bad.

Understanding this, I am now looking at physical gold as an essential asset.  Not that I would expect that it would be 'spendable.'  Just that at some point it would be exchangeable for something else of value that I might want then. 

OOOooo... am I really seriously talking about a barter economy? 

Really scary!!!

Craig

Thu, 02/13/2014 - 14:31 | 4433086 lasvegaspersona
lasvegaspersona's picture

jbv

how does one reset the reserve? One can devalue against the reserve but since gold is no longer part of the monetary system the dollar cannot be devalued....and THAT is the problem. 

The dollar needs to be driven til it drops. There is no easy way out (except to print for the banks but that alone does not solve the debt problem enough.)

Unless there is magic which we can't see the dollar will continue to be printed and continue to get uglier until it gets so bad that the rest of the world says 'enough'.

Thu, 02/13/2014 - 14:38 | 4433124 X_mloclaM
X_mloclaM's picture

this is false.

it capitalizes the cb's brosephine:

ECB balance sheet pic:

http://marketupdate.nl/wp-content/uploads/2014/02/ecb-balance-sheet.png

Fed balance sheet link:

http://www.federalreserve.gov/releases/h41/current/h41.pdf

Thu, 02/13/2014 - 12:43 | 4432568 Market Rage
Market Rage's picture

And when they do hit the sell switch, they certainly don't want any retail people to be short.

Thu, 02/13/2014 - 12:22 | 4432441 whatsinaname
whatsinaname's picture

Whatever they are doing I am fine with it. Sold some loss making puts and bought calls (totally by mistake). Was planning to recycle to longer dated puts but just realized I had bought calls instead. Investing for the next century. Am just shaking my head.

Thu, 02/13/2014 - 12:39 | 4432548 slightlyskeptical
slightlyskeptical's picture

You probably should have kept that to yourself. Such errors should make you worry over much more than the outcome of the trade.

Thu, 02/13/2014 - 12:47 | 4432587 The Axe
The Axe's picture

Bounced off that 50day  on the SP 180.83

Thu, 02/13/2014 - 17:03 | 4433237 hobopants
hobopants's picture

The last graph is the only one that makes sense.

Thu, 02/13/2014 - 18:55 | 4434200 StychoKiller
Thu, 02/13/2014 - 12:15 | 4432402 devo
devo's picture

Giffen good.

Thu, 02/13/2014 - 12:17 | 4432403 Ancona
Ancona's picture

Yellenomics unleashed. WTF?

Thu, 02/13/2014 - 12:30 | 4432488 Renewable Life
Renewable Life's picture

Ok, everyone here knows what's going on, stocks are being "restrained" by this taper charade! It's Yellen vs Wall Street for the time being, which has the little children on WS very upset right now!!!

They did a little 1000 point taper tantrum and it didn't get the message thru, the big boys (GS) and (JPM) are setting up for another "Lehman moment", to get this shit back rolling Big Ben Style!!!

Thu, 02/13/2014 - 13:00 | 4432646 wallstreetapost...
wallstreetaposteriori's picture

Full on retard-phoria in the markets now.  I wonder if we can start having 10-20% rallies a day and still be fairly valued?

Thu, 02/13/2014 - 12:16 | 4432406 TuPhat
TuPhat's picture

Right now it's crashing up.  Crashing down will be delayed but it's comming.

Thu, 02/13/2014 - 12:17 | 4432409 Dr. Engali
Dr. Engali's picture

Didn't you hear? Stocks only go up and twitter is the new safety play. Sum bitch is going to cost me a lunch.

Thu, 02/13/2014 - 12:22 | 4432440 fonzannoon
fonzannoon's picture

It's fascinating Doc. When that floor fell out from $65 I was certain it was all over for me and it was sandwich time for you. I was hoping it would find support at $20. Yet that thing gets a bid under it and moves higher again. Algo's at work. Unreal.

Thu, 02/13/2014 - 12:28 | 4432470 Dr. Engali
Dr. Engali's picture

Funny thing is when the bottom fell out my gut told me to buy it, because wallstreet had too much invested in this one to let it fall and I decided to pass. Pisses me off.

Thu, 02/13/2014 - 12:29 | 4432493 fonzannoon
fonzannoon's picture

I threw whatever I had at my 3d printing stocks when they got creamed. With twtr I just sat there paralyzed. 

I think everyone on this site owes Al Huxley a giant thank you btw. He went ahead and shorted the miners at the end of last year and illustrated just what kind of massive power some people have on here. 

Thu, 02/13/2014 - 12:50 | 4432595 RSloane
RSloane's picture

This market is completely emotion driven. Algos are searching for buzzwords and will be triggered regardless of the other economic data accompanying them.

Wall Street is not going to allow one of their new golden cows to fail, even if it is failing.

There is nothing to indicate that your guts or instincts are less than anyone else's In the long run they will be proven to be far more valuable to an unimagineable degree.

Good to see you Doc, and you too Fonz. :D

Thu, 02/13/2014 - 12:59 | 4432635 Dr. Engali
Dr. Engali's picture

Good morning Sloan it's good to see you, and your words ring very true. On another note, I think Fonz has gone off the deep end. Maybe in his insanity he will forget that I'm going to owe him a sandwich.

Thu, 02/13/2014 - 12:57 | 4432636 fonzannoon
fonzannoon's picture

Thanks and it is good to see you as well. Excellent spelling. I don't know how to spell unimagineable so I am going to go ahead and take your word for it.

Thu, 02/13/2014 - 21:35 | 4434771 MeelionDollerBogus
Thu, 02/13/2014 - 12:16 | 4432411 Four chan
Four chan's picture

blue horse shoe loves gold.

Thu, 02/13/2014 - 12:16 | 4432412 The Shootist
The Shootist's picture

Yellow shoots for bananas.

Thu, 02/13/2014 - 15:34 | 4433373 HardlyZero
HardlyZero's picture

Bananas is Yellin'

or

Yellin' Bananas

Thu, 02/13/2014 - 12:19 | 4432413 pragmatic hobo
pragmatic hobo's picture

absence of pomo the ppt steps in ...

Thu, 02/13/2014 - 12:17 | 4432415 Sufiy
Sufiy's picture


Gold Breakout: Yellen Pledges Continuity; Rickards Says Prepare For A 'Taper Pause' In June


Jim Rickards was spot on the money with his last call on Gold just before its breakout of the $1270 level. Now he is calling again for the Taper Pause in June. Today Gold is knocking on $1,300 with the highest print of $1,299 so far and shorts in the Gold market can experience the Blood Friday tomorrow if Gold can manage to close above this psychological level.   The real driver is the unprecedented demand of 2,181 tons of Gold from China in 2013: http://sufiy.blogspot.co.uk/2014/02/gold-breakout-yellen-pledges-continu...

Thu, 02/13/2014 - 12:17 | 4432416 Kaiser Sousa
Kaiser Sousa's picture

a fucking mother fuckin farce.......PERIOD!

Thu, 02/13/2014 - 12:39 | 4432544 BandGap
BandGap's picture

Use charts to dispute what charts tell you.

http://finance.yahoo.com/news/why-charts-not-predict-2014-230300770.html

About as poorly written an article I have seen of late.

Thu, 02/13/2014 - 12:17 | 4432417 SheepDog-One
SheepDog-One's picture

It almost makes one wish Tha Bernank was back!

Thu, 02/13/2014 - 12:20 | 4432420 coulous
coulous's picture

buy the fucking dip algo !

Thu, 02/13/2014 - 12:20 | 4432421 jim249
jim249's picture

It is weather related.

Thu, 02/13/2014 - 12:24 | 4432450 El Hosel
El Hosel's picture

Triple Bulltard Whammy. Bad News Bad Weather and Bad bankers are good for stocks.

Thu, 02/13/2014 - 12:20 | 4432422 devo
devo's picture

When something rises almost every day for like 2 years straight, it's going to take a lot to get people/computers to stop buying it. This is a psychology issue, but also there aren't many places to go. Housing is overpriced, everyone is scared of gold, the fed has pledged endless support to stocks, corporations are still buying back shares, and bears are scared to short, etc. This paradigm will change but it's going to take a lot. The key question to ask is when will corps stop buying back shares? At that point the market will crash no matter what Yellen's doing.

Thu, 02/13/2014 - 12:28 | 4432469 El Hosel
El Hosel's picture

Devo

Two Years? 2+2+2 = Two... oh yeah, I forgot.

Thu, 02/13/2014 - 12:29 | 4432483 devo
devo's picture

In 2011 markets had several major crashes (Japanese earthquake + debt ceiling). So yes, they have only been up non stop for 2 years.

Thu, 02/13/2014 - 12:35 | 4432516 El Hosel
El Hosel's picture

Those pesky the major crashes

http://finviz.com/futures_charts.ashx?t=ES&p=w1

Thu, 02/13/2014 - 12:56 | 4432622 holgerdanske
holgerdanske's picture

Scared of Gold??

I think what people are scared of is the paper claims on gold, i guess about 120 for each unit! at the moment.

If, or rather, when, TSHTF! one in 120 will walk away with a coin, the others might be pai in cash, but what is the paper worth in that situation?

No, people are not afraid of gold, they are afraid of the manipulation around gold, interest rates, housing, pensions, health insurance, well, about everything the government is involved in.

The thing you should be worried about is the lack of democracy and accountability. Insist on direct democracy, no taxation without direct influence. You thought your vote counted? How stupid are you allowed to be?

As for gold, just buy the coins, bury them in a hole in the ground. You can thank me later! LOL

Thu, 02/13/2014 - 13:52 | 4432892 akarc
akarc's picture

People in my neck of the woods are not in the market for gold. They are in the market for food, rent money after losing their homes, multiple jobs per person since wage destruction is dejour, gas money to get back and forth to work or any social agency or church that will give them a handout, ammunition, reasonably priced guns.

Checked craigs list the other day. Was blown away by the number of fairly new used ipads for sale at ridiculous prices. Of course that could be a buy indicator for smart phones. Used cars at insane low prices. Main drag has sellers of everything in every vacant building parking lot on the side of the road.

It's like politicians going to a grocery store. If you do not see what is happening it does not exist.

Thu, 02/13/2014 - 15:51 | 4433382 HardlyZero
HardlyZero's picture

Yellin' Gold...she might actually scare people into gold.

Thu, 02/13/2014 - 15:01 | 4433231 lasvegaspersona
lasvegaspersona's picture

Stocks will halt when there is no money to inflate them. As long as the Fed injects some they can at least prevent crashes. The problem is the long term. If they continue of QE we get hyperinflation. If they stop we could see deflation. they won't permit /allow deflation so they must continue to QE. This taper stuff is nonsense. It cannot last. The Fed will not be allowed to cause deflation just to protect our purely symbolic, no intrinsic value, easy to replace dollar. They will probably stop the taper soon. It appears that even more QE might be needed. 

The question is not can they or will they QE, the question is the response of the rest of the world to the USA abusing it's exorbitant privilege. India's Rajan has already expressed concern and China is preparing it's own exchange mechanisms.

The only reason this is not obvious is that the Fed has been so successful in hiding the end result for 5 years now. I do not know how much longer they can get away with their actions but just because it seems like a long time does not mean the laws of money have been repealed. Patience and understanding of what is happening will still be winners in the long run. Frustration and the temptation to play along might work for a while but fate can be cruel and I do not intend to tempt fate by dipping my toe back into the market to see if the rally will last another few months. Our current situation is such that it could end rather suddenly. They definitely will not ring any bells before it all blows up.

I am as frustrated and vulnerable as anyone. I have learned the hard way that rationale behavior is what needs to be done. No point in getting  into the market at the last minute. I don't have a newsletter to sell. I only have my own wealth to protect.

Thu, 02/13/2014 - 12:22 | 4432426 ThisIsBob
ThisIsBob's picture

Not too worry Tyler, doubt anybody visits here for trading calls.  Generally they just come to be grumpy.

Thu, 02/13/2014 - 12:31 | 4432492 Frank N. Beans
Frank N. Beans's picture

You remind me of Kito.  Where's Kito since Francis left?  (BTW I did not downvote you.)

Thu, 02/13/2014 - 12:46 | 4432573 Spastica Rex
Thu, 02/13/2014 - 12:33 | 4432497 Oh regional Indian
Oh regional Indian's picture

What, Bob, is the meaning of mumpty?

And are you bobblibg in to be numpty here? 

Or are you un-general, generally speaking?

Three question for you, who IS bob...

 

Thu, 02/13/2014 - 12:42 | 4432563 BandGap
BandGap's picture

I'm not grumpy, I'm scared. And fear breeds anger.

You want trading calls Bob? Go see that whiz Cramer. He'll opotimistically provide you with all sorts of insight.

Thu, 02/13/2014 - 19:03 | 4434222 StychoKiller
StychoKiller's picture

"Fear leads to anger, anger leads to hate, hate leads to the dark side..."  (Who knew my "Little Green Friend" could be so prescient?)

Thu, 02/13/2014 - 21:36 | 4434763 MeelionDollerBogus
MeelionDollerBogus's picture

Fear leads to anger. Anger leads to rushed trades.
Rushed trades lead to Butthurt. Much danger, I sense.

Thu, 02/13/2014 - 13:12 | 4432686 orangegeek
orangegeek's picture

not really - tired of other sites like seekingalpha.com, business insider, WSJ, Bloomberg, etc - all the same fucking lies.  you should go back there

 

how's your buddy Cramer and his stock picks???? 

Thu, 02/13/2014 - 12:18 | 4432427 gdiamond22
gdiamond22's picture

The more stocks rise on fantasy, fed-driven liquidity, the harder and fast stocks will fall when reality rears its ugly face.

Thu, 02/13/2014 - 12:23 | 4432446 SheepDog-One
SheepDog-One's picture

On that day, everyone will be diverted by something else, like 9-11 except much larger. 

Thu, 02/13/2014 - 12:38 | 4432517 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Bingo sheepDog.

Thu, 02/13/2014 - 19:05 | 4434226 StychoKiller
StychoKiller's picture

I volunteer a plane crashing into the US Capitol building...

Thu, 02/13/2014 - 12:32 | 4432431 JustObserving
JustObserving's picture

This type of stock behavior can only happen in fraudulent, manipulated markets where all the regulators have been captured or are too busy watching porn.

Thu, 02/13/2014 - 21:33 | 4434748 MeelionDollerBogus
MeelionDollerBogus's picture

It's like Eurotrip.
They're captured and can escape as soon as they say the safe word.

Thu, 02/13/2014 - 12:21 | 4432432 Kilgore Trout
Kilgore Trout's picture

When the permanently high platueu is reached, gains will be hard to come by. Best to capitalize on this last leg up.

Thu, 02/13/2014 - 12:24 | 4432454 SheepDog-One
SheepDog-One's picture

I was hearing 'this is the last leg up' 4 years ago.

Thu, 02/13/2014 - 12:21 | 4432433 Boston
Boston's picture

The smart money is in the US 5yr and 10yr. Dumb money---in stocks---will follow. Eventually.

Thu, 02/13/2014 - 12:27 | 4432466 devo
devo's picture

Agree, but healthcare and gold mining stocks have fundamentals behind them. Not all stocks are bad, but most are in for face-ripping good times.

I'd actually rather own corporate debt than their stocks.

I'd say, in order: 

Land/timber/animals

Bonds

Gold

Corporate debt

Stocks 

Cash

Thu, 02/13/2014 - 12:26 | 4432480 gdiamond22
gdiamond22's picture

For a trade yes, but the 'smart' money is not invested in anything denominated in the US. Bullion, Bullets and Beer for me.

Thu, 02/13/2014 - 12:20 | 4432434 yogibear
yogibear's picture

The Fed is pushing the buttons. Only thing to stop the farce is a dollar collapse.

Thu, 02/13/2014 - 12:38 | 4432534 sphindog
sphindog's picture

They must be the only ones buying this rally...we were at a serious inflection point, forming a nice right shoulder. Big sell off would have spelled serious trouble. They put an end to that.

Thu, 02/13/2014 - 12:20 | 4432435 Yen Cross
Yen Cross's picture

   The Chinese must have leaked their CPI & PPI numbers due out later. /s

     The fucking aud/usd has retraced 61.8% of it's drop on those horrible jobs numbers overnight as well. The batshit crazy usd/jpy? {no comment}

Thu, 02/13/2014 - 12:22 | 4432436 coulous
coulous's picture

DJ 32 000 TARGET SP 3000

Thu, 02/13/2014 - 12:36 | 4432526 yogibear
yogibear's picture

The Fed equates stock price increases  with an increase in wealth. So they will keep hyping equities regardless if it's grinding the rest of the people down with higher prices and lost business/jobs.

Thu, 02/13/2014 - 12:22 | 4432439 NOTW777
NOTW777's picture

not sure why anyone would believe the feds published POMO schedule; like obama they do whatever they want whenever - there are no rules

Thu, 02/13/2014 - 12:26 | 4432459 SheepDog-One
SheepDog-One's picture

Right, just because fraud and manipulation are not 'officially scheduled' today does not mean they're not doing it anyway. What rules?

Thu, 02/13/2014 - 13:36 | 4432833 akarc
akarc's picture

NSA is doing it for our own security

Thu, 02/13/2014 - 12:22 | 4432443 madbraz
madbraz's picture

As unemployment claims and GDP growth expectations go back to where they were a year ago, and as QE ends and we have once again zero economic improvement to show for, we should erase all phantom gains made in the last 12 months.

 

This would put the SP500 at 1520 and the 10 year once again at 2%. 

Thu, 02/13/2014 - 12:28 | 4432475 Tortuga
Tortuga's picture

Your rational for stopping @ 12 months?

Thu, 02/13/2014 - 12:21 | 4432444 Nid
Nid's picture

Does NDX have to hit 5000 before the insanity ends?

Thu, 02/13/2014 - 14:44 | 4433139 Citizen_x
Citizen_x's picture

Yes

Comp    5000

S&P      1929

I know someone here already said 1929 but I agree.

Just a game; we are...to them.... 

Thu, 02/13/2014 - 12:26 | 4432463 eduard khil
eduard khil's picture

Japan QE expansion any minute? 

Thu, 02/13/2014 - 12:27 | 4432468 Tortuga
Tortuga's picture

No news here. The only reality today is on pawn stars, where the value is not in the pixie dust and unicorn gas of the owner/master, but in the perceived future profit of the buyer/master.

Thu, 02/13/2014 - 12:28 | 4432473 Comte d'herblay
Comte d'herblay's picture

Here's the skinny on the recalcitrance of the market to go down, and reward FINALLY, shortsellers:

To not prosecute the Vicious Carnivorous Wolves among the 12 big banks on Wall Street, that created fraudulent mortgage backed securities and brought the world to global financial desctruction, the deal was struck with them in 2008-9, to act as a backstop for any major downward move. Why?  To accomplish the one thing NO ONE but ZH once in a while mentions: The 100 Trillion dollar Shortfall in the Pension Funds that needs to be made up to pay off retirees who will live another 30 yrs of more. 

As Joe Schmoe comes available for retirement this year he needs cash, if ALL the boomers retire over the next decade, they too will need cash, and that cash has to come from newly created FRNs that the FED has been injecting into the big banks who are in charge of those pension funds, or most of them.  

I don't see the "market" going down significantly for at least 20 years.  The IBM, Bristol Myers, Cisco, AAPL, and all the other shares held by pension funds need to be sold to someone and they can't be sold at half off prices.  All time high value needs to be paid to get the cash to the retirees to fulfull the defined benefit and defined contribution plans out there, otherwise the entire financial system implodes.

I could of course be wrong about this, but I have bought every dip and not been the least bit sorry about it.  This morning I got tied up for an hour and missed the move up from -90 it was down, and am kicking myself for not paying attention.  

Thu, 02/13/2014 - 12:34 | 4432507 Tortuga
Tortuga's picture

Don't kick yourself too hard. Based on your timeline, you have 20 years to make up for it.

Thu, 02/13/2014 - 12:36 | 4432523 Seeking Aphids
Seeking Aphids's picture

Agreed C. It is all about the debt. ZIRP can't be discontinued. Massive malinvestment however. Should result in massive crash at some point as what goes up must come down. Yellen will have to forget about additional reductions in QE if current trends continue and I think they will....gold should be going through the roof - still being suppressed imho.

Thu, 02/13/2014 - 12:38 | 4432540 jim249
jim249's picture

I sure hope your right. I am retiring later this year. My pensions have been a concern for me.

Thu, 02/13/2014 - 13:35 | 4432829 akarc
akarc's picture

If you have a job, do not retire unless made to.

Sat, 02/15/2014 - 13:48 | 4439680 sarahsloverlance
sarahsloverlance's picture

I'm willing to take the high road on this, and say that you will get all the pension money you are entitled to.  Right now plans are afoot to pay you off your monthly stipend by whoever holds your pension account by incoming contributions,and liquidations (selling shares)  at full 'value' of the securities in the fund redeemed by some one of the big banks buying those securities.

Watch and see.  I'd be more worried about the value---what those dollars will buy; and less worried if the greenback remains the go to currency over all others.  Many have predicted the demise of the buck but is it where it has been, fairly stable for years. The biggest downturn when the Euro was coined.

Thu, 02/13/2014 - 14:10 | 4432819 akarc
akarc's picture

"The IBM, Bristol Myers, Cisco, AAPL, and all the other shares held by pension funds need to be sold to someone and they can't be sold at half off prices.  All time high value needs to be paid to get the cash to the retirees to fulfull the defined benefit and defined contribution plans out there, otherwise the entire financial system implodes."

As more people retire amidst upcoming wage destructed much jobless generations at some point in time cash will have to be raised to pay the pensions.

Either the banks come off some of the money they are sitting on, the fed prints to infinity or someone is going to have to sell stock for capital.  Once the first try's to be first to lock in gains the rush will be on.

However all the scenarios end badly as the pensioners will lose via crashed investments or hyper inflated money and goods.

China is stacking gold and establishing bi lateral agreements with boo coo countries. European banks will need more US cash.  

THe complexities of unseen, known  by some, that could occur at any moment resultiing in a worldwide catastrophe have grown exponetially.

All we can do is pray for more bad weather. 

 

Thu, 02/13/2014 - 21:29 | 4434738 MeelionDollerBogus
MeelionDollerBogus's picture

Nice theory. I won't agree or disagree. I'll add this: what can't be paid won't be paid & if pensions have to go down a lot or not be paid out in the process, that's legally viable.

Sat, 02/15/2014 - 13:42 | 4439665 sarahsloverlance
sarahsloverlance's picture

I don't see it.  The pensions will be paid, albiet at dollars that are going to buy less and less, but nominally, they will get their full boat of benefits.  The US Government can't afford to have the senior citizen go the way of the dinosaur without a similar catastrophic event that wipes them all out simultaneously.

It is far easier and less chaotic to reach a deal to not prosecute them for criminal behavior, as long as the quid pro quo is that they will not permit more than a few percentage points of a downdraft.  

The FED would buy up all the pension obligations they could by printing new money, but that would be all too obviously manipulative.  Better to keep up the appearance of a "market" by allowing stock prices to fluctuate in a seemingly random fashion, especially when you have the mass media to rely on to say that the market went up because the weather improved or it went down because bill clinton has been outed as a homosensual. And have the human beans believe it, because it's on television.

 

Sat, 02/15/2014 - 15:41 | 4440020 MeelionDollerBogus
MeelionDollerBogus's picture

I don't see that: the dollars to pay the pensions aren't there so somehow they must arrive. From where? If it's printed money it's just as easy to funnel that into bonuses for the pension managers & of all things, to claim it's for "improving company efficiency" by cutting pensions.

They are that evil.

"The US Government can't afford to have the senior citizen go the way of the dinosaur without a similar catastrophic event that wipes them all out simultaneously"

Why not? Those seniors will die of old age before being able to vote a new muppet-master in, who is also a puppet of the big banks, so nothing would change with a vote, and the EBT-generation that also votes will outnumber them soon enough.

Thu, 02/13/2014 - 12:28 | 4432477 thismarketisrigged
thismarketisrigged's picture

only thing that matters on a daily basis.

 

1. fuckbook is green

2. google is green

3. usd/jpy creeps higher

4. aapl now must move up 1-2 percent daily.

5. spy green no matter how slightly it be.

Thu, 02/13/2014 - 16:15 | 4433521 hot sauce technician
hot sauce technician's picture

That's what the plebs want. Bread and circuses. The market's simply reflecting that. The question is, does the beast self combust when the plebs wake up from their stupor? Or do the plebs first wake up from their stupor and then take down the beast?

Thu, 02/13/2014 - 12:28 | 4432478 Seasmoke
Seasmoke's picture

Still comes down to USD collapse or a few too big to fail banks collapse. Decisions. Decisions. Decisions 

Thu, 02/13/2014 - 12:28 | 4432481 Obama_4_Dictator
Obama_4_Dictator's picture

It's getting so close to the endgame, now I don't know if I want it to happen.  It's not going to be fun.

Thu, 02/13/2014 - 12:37 | 4432531 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

How close? Months, years......?

Thu, 02/13/2014 - 12:36 | 4432539 SheepDog-One
SheepDog-One's picture

Days? Hours? None of us here know, that's for sure. 

Thu, 02/13/2014 - 12:40 | 4432549 Obama_4_Dictator
Obama_4_Dictator's picture

I just have this uneasy buttlerfly feeling in my stomach, feels like it's getting really close, but I have been wrong before. 

Thu, 02/13/2014 - 12:51 | 4432604 forwardho
forwardho's picture

Amen brother, Amen.

Thu, 02/13/2014 - 16:07 | 4433491 hot sauce technician
hot sauce technician's picture

No it won't. But it won't be as bad as the doomsdayers predict it will be. Fiat will lose its hegemony gradually -- not in one swift (and traumatic) motion. There will then be a readjustment period as the system slowly melts down i.e. you won't have easy access to some of the goods that today you're taking for granted. Water for example. Or motorized vehicles. Or flat screen TVs. Or a million and one other things. But people won't go from satiated to starved overnight. Finished products and commodities will simply become more scarce and the focus will shift to the bare necessities. A no frills, mostly luxuryless type of life will become the new black. Yet this will come about as the system self combusts, section by section. So say, one day there won't be any more frito lays in stock and the next, no fresh chicken. And so on. Nothing traumatic if you're mentally prepared for it. The upside of course is that bankers and pols will have been tarred and feathered along the way and economies and political activity will have morphed into localized phenomena. Therefore: live simply, stay in shape and keep your mind active with some type of intellectual pursuit.

Of course the beast can just continue to feed on itself indefinitely by absorbing more prey i.e. developing economies into it's corpus and ravaging and raping every corner of this planet while the dow will continue its climb into deep 5 digit territory and beyond. The 99 percent will still be subjugated to digitally enforced bondage as they'll enjoy their nachos and mcnuggets watching women's mma on their jumbotrons. But even that would have to come to an end at some point.

Thu, 02/13/2014 - 12:28 | 4432482 SheepDog-One
SheepDog-One's picture

Pretty soon they're going to have to be announcing new QE's hourly!

Thu, 02/13/2014 - 12:30 | 4432489 starman
starman's picture

 women love shopping ! "Yellen"

Thu, 02/13/2014 - 15:40 | 4433395 HardlyZero
HardlyZero's picture

Yellin' Gold, for Valentine's Day.

Thu, 02/13/2014 - 12:32 | 4432499 all-priced-in
all-priced-in's picture

Europe looking for place to put cash that is coming out of bank deposits?

 

I got nothing else. Europe just closed - see if the market drops.

 

Thu, 02/13/2014 - 12:31 | 4432502 Cornholiovanderbilt
Cornholiovanderbilt's picture

billions and billions a month of paper created and injected into the equity mkts and bank vaults and people can't understand why staux go up every fn day?  Hyperinflation can't hit main st cause the sheeple have no $$.  If the criminal syndicate dolled out billions and billions/month to the sheep we would see the weimar redux in minutes.  It's all about da velocity or lack thereof!

Thu, 02/13/2014 - 12:35 | 4432532 SheepDog-One
SheepDog-One's picture

Right, all they can really do is keep increasing the size of the screen this shitshow is playing on.

Thu, 02/13/2014 - 12:52 | 4432597 forwardho
forwardho's picture

Simple truth, stated simply.

Bravo!

With infinate fiat, the possibilitys are infinate. The "breaking point" has been removed.

(until an outside influence acts upon closed system)

Thu, 02/13/2014 - 14:03 | 4432954 akarc
akarc's picture

"If the criminal syndicate dolled out billions and billions/month to the sheep we would see the weimar redux in minutes."

Bingo, and the really big boys know that. So they are using our money to buy up major corporations and politicians. The money will end up worthless. But they will have the means to control, including whatever digital currency is devised to replace the dollar, and that is the name of the game.

You will walk up to the store and say here sir is a gold coin for a loaf of bread and the corprate owner will say sorry sir, but that can't be scanned. We have no way t credit or debit your account for such a transaction.

Sat, 02/15/2014 - 15:42 | 4434724 MeelionDollerBogus
MeelionDollerBogus's picture

That's OK, the delivery-truck guy has a special scanner for those in the back of the truck, off-hours, before arriving at the corporate outlet. It's a retinal scanner. His retina scans my silver coins & before ya know it, the transaction is validated.

Thu, 02/13/2014 - 15:46 | 4433403 HardlyZero
HardlyZero's picture

Just exited the Bull Trap.  

Meltup will continue indefinitely, until it doesn't.  

Gold and Cash (short term) until the 'Return to Normal' is complete and we enter into Fear.

 

Then short the heck out of the stawks....but always keep the Gold.

 

2014.

Thu, 02/13/2014 - 12:31 | 4432506 sphindog
sphindog's picture

Some riggings are more easily hidden than others. I'm honestly looking for a justification...even a stretched one...for this bounce today. Amazing...absolutely amazing.

Thu, 02/13/2014 - 12:32 | 4432509 madbraz
madbraz's picture

On other suspicious news, most if not all primary dealers changed from being an Inc. to being an LLC at the same time.  

Thu, 02/13/2014 - 12:38 | 4432536 FieldingMellish
FieldingMellish's picture

Gold meeting fierce resistance at $1300. 

Thu, 02/13/2014 - 12:44 | 4432566 Obama_4_Dictator
Obama_4_Dictator's picture

Fuckers are really sweating now

Thu, 02/13/2014 - 12:52 | 4432596 FieldingMellish
FieldingMellish's picture

First attempt rejected. Three taps?

Thu, 02/13/2014 - 15:46 | 4433420 HardlyZero
HardlyZero's picture

Yellin' bug-out juice will provide a rising POG escape path.

Thu, 02/13/2014 - 13:20 | 4432726 akarc
akarc's picture

yepper

Thu, 02/13/2014 - 12:46 | 4432581 ronincap
ronincap's picture

The desperate ponzi scheme continues - Madoff would be proud of Ben B and Janet Y

Thu, 02/13/2014 - 20:09 | 4434458 MeelionDollerBogus
MeelionDollerBogus's picture

turns out no one is yet using the ticker symbol PNZI

opportunity knocks....

Thu, 02/13/2014 - 12:48 | 4432584 Glass Seagull
Glass Seagull's picture

 

 

Stanley F.:  the bidder of last resort.

Thu, 02/13/2014 - 12:48 | 4432593 Obama_4_Dictator
Obama_4_Dictator's picture

I'm afraid that everyone in here is going to look like geniuses soon.

Thu, 02/13/2014 - 12:59 | 4432637 dvsteenk
dvsteenk's picture

They are hunting key short positions at CAC40 4350 and SP500 1835, everything seems connected to those levels, which are matching levels in other indices, FX, commodities and bonds, levels to be broken tomorrow

Highly levered orchestrated short squeeze driven by US 10Y treasuries, my guess...

Thu, 02/13/2014 - 13:05 | 4432675 TheRideNeverEnds
TheRideNeverEnds's picture

I dont even need to look at my screen to tell you what they are doing, they are up and going higher.

 

Really the only reason I look at my screen anymore is to check how far FB, TWTR and TSLA are up, is it only 3%, 5, or 10% today. 

 

 

Thu, 02/13/2014 - 13:19 | 4432720 AgentOrange
AgentOrange's picture

The correlation between today and 1929 is interesting, but I highly doubt we are like two days from a complete crash. I think it's a few months out at least, probably a few years. I hope it is, I need to stockpile more silver

Thu, 02/13/2014 - 13:44 | 4432851 Who Laughed
Who Laughed's picture

I do not agree with what you have to say, but I'll defend to the death USDJPY 120

Thu, 02/13/2014 - 13:43 | 4432861 sbenard
sbenard's picture

The bigger they are, the harder they fall!

Thu, 02/13/2014 - 13:53 | 4432903 Dimons jock
Dimons jock's picture

STAY CALM! priceline.com is going to save us. And Chipotle ...

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