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Market Update

Tyler Durden's picture




 

... In one chart which, because panic BTFATH means more panic BTFATH. Now imagine what would have happened if Q4 GDP had actually beats instead of sliding. In other news, the S&P is now just a little over 30 points away from Goldman's 2014 year end price target of 1900. At this rate it will be taken out by 2 pm.

 

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Fri, 02/28/2014 - 11:26 | 4489020 Max Damage
Max Damage's picture

Buy to infinity, forget all time highs, they are boring now and too small minded. Think big, think to infinity and beyond!!!

Fri, 02/28/2014 - 11:33 | 4489067 Robot Traders Mom
Robot Traders Mom's picture

Why so serious, Jim Cramer? 

 

:)

Fri, 02/28/2014 - 12:02 | 4489210 Who Laughed
Who Laughed's picture

That sounds like btc tlk

Fri, 02/28/2014 - 12:59 | 4489584 DblAjent
DblAjent's picture

GS: Ok, let's put the number at 1900. People still trust us, don't they? Sure they do! We'll continue to pound PMs and lure everybody in. Once the momentum hits, they'll all be jumping on the bandwagon. And that's when we'll pull it. tee hee hee

PMs. otherwise, sidelines bitchez

Fri, 02/28/2014 - 11:27 | 4489027 DavidC
DavidC's picture

Words fail me.

DavidC

Fri, 02/28/2014 - 11:27 | 4489028 cora
cora's picture

The "markets" will interpret everything as good news, while people in the know sell. Euphoria before collapse.

Fri, 02/28/2014 - 11:27 | 4489034 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

did I miss the release of another bogus data point? Because the gold hammer just started coming down at 10:15 AM.

Fri, 02/28/2014 - 11:29 | 4489044 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

Oh...Ok the home sales thing. got it.

Fri, 02/28/2014 - 11:28 | 4489038 Save_America1st
Save_America1st's picture

the poor muppets are never going to know what hit them when this is all said and done...

tick-tock, bitchez...that day is nearer than they could ever imagine.

Fri, 02/28/2014 - 11:30 | 4489054 Aknownymouse
Aknownymouse's picture

Whenever I look at analysts on TV i can never take the image of the wolf of wall street when he was assembling his room full of analysts trying to sell shit to morons. They are all the same

Fri, 02/28/2014 - 11:28 | 4489040 Aknownymouse
Aknownymouse's picture

With a market like that, no way in hell is the untaper happening. Blowoff top today.

Fri, 02/28/2014 - 11:29 | 4489042 Tsar Pointless
Tsar Pointless's picture

I'm disappointed. I would have bet the farm on the S&P reaching 1800 by February's end. Glad I don't own a farm then, as I wouldn't own one after today.

Oh, well. I still think we can get to 2000 by Easter.

Fri, 02/28/2014 - 11:40 | 4489046 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Yellen be loving this shit.

Fri, 02/28/2014 - 11:30 | 4489052 pods
pods's picture

Looks like the Wonkavator.

The SnP can be 80k and yet we might be burning FRNs to keep warm.

There is zero relationship between these things and the actual economy.

For now, they have hit a perpetual motion machine, where buybacks with conjured ZIRP loans make things look better.

All this means is that when things go bad, it will be people eating people bad, not selling apples for a nickel bad.

pods

Fri, 02/28/2014 - 12:29 | 4489378 forwardho
forwardho's picture

When a possible future became a probable future.

The end result of this postponment of reality will likely be as you predict.

Fri, 02/28/2014 - 11:30 | 4489055 q99x2
q99x2's picture

The market leads the economy by six months.

Something doesn't seem right.

Fri, 02/28/2014 - 11:32 | 4489059 Fidel Sarcastro
Fidel Sarcastro's picture

CLEARLY crude oil > $102.00 bbl is bullish, right????

 

whatever

Fri, 02/28/2014 - 11:34 | 4489070 valley chick
valley chick's picture

And will this fade before the closing?  Couldn't pay me to go long.

Fri, 02/28/2014 - 11:41 | 4489102 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

I dunno, I tend to agree, but on ther other hand BTATFH has worked pretty well for a lot people, making me increasngly stupid the past 1 - 2 years. Why should today be any exception or some turning point? If good news = buy, and bad news = buy, then I don't see how the market goes down.

Fri, 02/28/2014 - 11:46 | 4489128 fonzannoon
fonzannoon's picture

btfath and get down on your knees and thank the bernakyellen when he gives you a chance to btfd.

Fri, 02/28/2014 - 11:34 | 4489071 TheMeatTrapper
TheMeatTrapper's picture

I have to give them credit - they have kept this bitch pumped up a lot longer than I thought they could. 

Fri, 02/28/2014 - 11:41 | 4489101 Jlasoon
Jlasoon's picture

Never underestimate the power of a central bank. 

Fri, 02/28/2014 - 12:10 | 4489250 forwardho
forwardho's picture

Nor the fragility of infinite fiat.

Fri, 02/28/2014 - 11:34 | 4489072 Battleaxe
Battleaxe's picture

Watching the stock market is as big a waste of time as watching the evening news. Nothing but propaganda.

Fri, 02/28/2014 - 11:37 | 4489079 Fidel Sarcastro
Fidel Sarcastro's picture

Don't listen to the fucktards on CNBS. Listen to music and trade.

Fri, 02/28/2014 - 12:50 | 4489533 Market Rage
Market Rage's picture

Exactly.

Fri, 02/28/2014 - 11:36 | 4489075 GS-DickinDaMuppets
GS-DickinDaMuppets's picture

The "Short Sellers" are taking it in the jockey shorts - Moma is going to be washing a lot of skid marks out of the underware wash load -

I never dreamed we could have all time market highs based on "currency" created from thin air - WTF !!!

This market is absolutely "UN-BELIEVABLE"......

Fri, 02/28/2014 - 11:40 | 4489090 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

This market is truly a spectacle.....If you were in this from 2010 till now.....you would never have to work again. Who the fuck doesn't love free money.

Fri, 02/28/2014 - 11:53 | 4489081 Kaiser Sousa
Kaiser Sousa's picture

mere coincidence of course that this fraudulent Fraud Market ramp occurs on the last day of the month coinciding with  GDP data that confirms there aint no mother fucking recovery...yeah, and then there's the also completely logical take down of the phony paper prices of Gold and Silver....

yeah, right....

Fri, 02/28/2014 - 11:40 | 4489091 JustObserving
JustObserving's picture

In other market-moving news:

GCHQ identified Kinect as possible snooping tool; Microsoft denies all knowledge

Xbox 360’s Kinect camera was identified by British spy agency GCHQ as a possible tool for snooping on the public.

As part of new documents revealing that webcam images of Yahoo users have been captured by governments, The Guardian also reveals that one of GCHQ’s presentations “discusses with interest the potential and capabilities of the Xbox 360's Kinect camera, saying it generated ‘fairly normal webcam traffic’ and was being evaluated as part of a wider program”.

The plans were part of a surveillance program entitled Optic Nerve that worked to capture imagery of internet users via in-built hardware camera tech.

It is not yet known whether GCHQ actually recorded and stored images captured via Kinect

The revelation is a nightmare for Microsoft, which has already had to fight against the security backlash that erupted when it transpired that Xbox One would ship with a new always-on Kinect camera.

“Microsoft has never heard of this program," a spokesperson told MCV. “However, we’re concerned about any reports of governments surreptitiously collecting private customer data. That’s why in December we initiated a broad effort to expand encryption across our services and are advocating for legal reforms.”

http://www.mcvuk.com/news/read/gchq-identified-kinect-as-possible-snoopi...

Fri, 02/28/2014 - 12:46 | 4489500 Dollarmedes
Dollarmedes's picture

"Microsoft has never heard of this program"

And many people had never heard of Al Qaeda before they flew two planes into the World Trade Center, so who gives a shit what Microsoft has heard of?

"However, we’re concerned about any reports of governments surreptitiously collecting private customer data. That’s why in December we initiated a broad effort to expand encryption across our services and are advocating for legal reforms.”

This response is too stupid to be believable. I view it as evidence that MS knows exactly what's going on.

Fri, 02/28/2014 - 11:45 | 4489119 RaiZH
RaiZH's picture

I'm just waiting for an article on ZH stating how the gold market just crashed today (down roughly 1.2%). 

Fri, 02/28/2014 - 11:46 | 4489126 HUGE_Gamma
HUGE_Gamma's picture

Time for the Bear in the Headlights MEME

Fri, 02/28/2014 - 11:46 | 4489130 Skin666
Skin666's picture

This crash is going to be epic!

Fri, 02/28/2014 - 11:47 | 4489133 Atlantis Consigliore
Atlantis Consigliore's picture

Print Janet, Print print PRINT!!!!!!!  we can fly to the casinos this weekend in vegas all comped, lol, 

 

its like Real Estate it only goes up, giggle. 

 

Put put put put put. 

Fri, 02/28/2014 - 11:49 | 4489146 Rising Sun
Rising Sun's picture

Help fist ram a bankster today.

 

This is war.  Stop spending.

 

FUCK YOU YELLEN!!!

Fri, 02/28/2014 - 12:00 | 4489204 Doubleguns
Doubleguns's picture

Stop spending?!!!  Cant stop spending on PMs, bullets, bandaids, freeze dried food, bunkers, cement, goats, chickens and rabbits. 

Fri, 02/28/2014 - 11:51 | 4489152 NoIdea
NoIdea's picture

Record highs with FB TSLA NFLX and TWTR all down! This is real market strength - buy the economic news, whatever it is! This market is only going one way...

Fri, 02/28/2014 - 11:51 | 4489153 Oldwood
Oldwood's picture

Is it money running away from Asia and the rest of the world to the US markets? It would make sense, bad sense, but sense none the less. This may very well be the rush to the high end of the Titanic, just before the whole thing slides towards the bottom. The smart ones would be building a raft but I don't know one made of money would float. I think money may be the very thing we drown in.

Fri, 02/28/2014 - 11:52 | 4489158 marginnayan
marginnayan's picture

These motherfucking racketeers, pumpsters, fraudsters and criminals, aka Banksters, in collusion with FED continue to pump this market no matter what?

I wish that one day I wake up and watch the market down 500+ points on CNBC. That would really make my day.

 

Fri, 02/28/2014 - 11:57 | 4489182 fonzannoon
fonzannoon's picture

if u are talking SPY then yes, if u meant dow i would btfd.

Fri, 02/28/2014 - 11:57 | 4489185 Doubleguns
Doubleguns's picture

Amazing what 65 billion can do for you these days. 

Fri, 02/28/2014 - 12:46 | 4489501 Obchelli
Obchelli's picture

A lot budget of my country is 6 bln per year with population of 3.5 million. (Don't slam me  - I'm from poor country and yet....) People live in it...

Fri, 02/28/2014 - 11:58 | 4489189 NDXTrader
NDXTrader's picture

I imagine a computer saying MUST GET ALL THE TAX RETURNS in an endless loop

Fri, 02/28/2014 - 12:01 | 4489207 Yancey Ward
Yancey Ward's picture

There is still too much pessimism for the the market to turn over just yet.  Sure, the bull/bear ratios are high, but this market will not start falling until mom and pop stop holding bonds and stable value funds in their IRAs and 401Ks.  Once they are in, then the bottom can be allowed to fall out.

Fri, 02/28/2014 - 12:10 | 4489252 LawsofPhysics
LawsofPhysics's picture

Please, for those relative few with 401ks, most are forced to hold a certain percentage of such funds.

See the real problem yet?

Fri, 02/28/2014 - 12:14 | 4489287 Yancey Ward
Yancey Ward's picture

Forced to hold 100% bonds and stable value?  No.  They do it out of fear caused by the last two bubbles.  This bubble hasn't yet lured back in.  The S&P may have to break 2000, and the DOW 20,000 before the real panic buying really gets going.  You could well see the S&P hit 2500 before the next crisis begins. 

Fri, 02/28/2014 - 12:28 | 4489370 Dr. Venkman
Dr. Venkman's picture

Is there a difference between fear of the markets and non-participation due to complete and utter disgust of the markets? I think so. I fear nothing of this market except maybe the end result of this fiasco.

Fri, 02/28/2014 - 12:24 | 4489339 Dr. Venkman
Dr. Venkman's picture

I have 100% of my 401k in stable value (my only real option to avoid the markets generally) just to collect the employer match. I will CONSIDER changing that when the S&P crosses 1000. I am 32 and know plenty of older folks that have the same sentiment. So if they are waiting on capitulation from me and others like me in order to pull the rug out, well, enjoy the ride to infinity.

Fri, 02/28/2014 - 13:48 | 4489858 EndOfDayExit
EndOfDayExit's picture

Wise. I'm 98% in cash. The remaining 2% are in SP500 10%-out-of-money 6 months-away PUTs. I may bleed those 2% every 8 months or so as puts expire worthless like they did last year and I will buy more, but come 20+% correction I will get my money back well compensated for interim inflation. Come 40+% correction I will consider going long. Investing with ones own money is very different compared to investing with somebody's else.

Fri, 02/28/2014 - 12:24 | 4489342 horseman
horseman's picture

Kitco shows the dollar index at 79.80,, a drop of .47 That's huge.  Not  peep on the financial news about it. 

Fri, 02/28/2014 - 12:35 | 4489434 TheRideNeverEnds
TheRideNeverEnds's picture

We are two whole points off the high now, BTFD!!  

 

1900 is a given, thats basically a free 40 points with zero risk if you buy em here.  

 

I am upgrading the S&P price target from 2000 to 5000. 

Fri, 02/28/2014 - 12:47 | 4489521 Spungo
Spungo's picture

Meanwhile, silver is getting absolutely destroyed. I hope silver gets ass pounded into the ground since I sold my silver miners too early and I want to buy them back. 

Fri, 02/28/2014 - 13:01 | 4489593 jubber
jubber's picture

yet again Europe, that had been red all day dragged up with a HUGE algorhythmic ramp, even with Ukraine on their doorstep!

Fri, 02/28/2014 - 13:42 | 4489837 thismarketisrigged
thismarketisrigged's picture

the only thing that can make my day today is a heated argument between rick santelli and some fools from cnbc during the closing bell.

 

we say it as a joke that the market will finish up triple digits daily, but its not joke anymore.

 

same shit, different day.

Fri, 02/28/2014 - 13:55 | 4489896 Caracalla
Caracalla's picture

Bought TSLA, FSLR and FB puts yesterday.  This market is going to croak soon and I want to cash in on the fall...

Fri, 02/28/2014 - 14:30 | 4490064 jtz5
jtz5's picture

Hi Caracalla...can you tell me what you actually bought and explain what needs to happen for you to make $ and by what date?  Thanks...want to learn more about puts and calls.

Fri, 02/28/2014 - 15:09 | 4490281 Caracalla
Caracalla's picture

Sure jtz5,

I bought TSLA $280 puts (March) for $30 per contract (each contract is 100 shares, so $3000 per contract) when TSLA was $258/share.  In theory, for each dollar per share TSLA drops my contracts will increase in value by $1.  Of course, if TSLA rises, I could lose everything.  If TSLA sells off by 10%, I will probably sell at least half my position.  At $230/share, in theory, each put contract is worth at least $50 ($280-$230) plus a premium depending on how close I am to the OPEX date (March 22).

With FB, I bought $70 March puts and with FSLR $60 March puts.  Without looking up my transactions for the exact numbers, these will work the same as TSLA

Fri, 02/28/2014 - 15:19 | 4490327 jtz5
jtz5's picture

Great, thanks...

Fri, 02/28/2014 - 15:18 | 4490324 Hohum
Hohum's picture

The S & P is at all time highs because most rich people don't create wealth, their protestations notwithstanding.

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