• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...


Tyler Durden's picture


Presented with little comment, aside to remind the 'money on the sideline'-watchers just how all-in everyone is already...



and a reminder of just who is "complacent" and who is "selling"


And then there's this... (the break in Feb 2014 syncs with Fed's Tarullo comments that "hi-tech /small caps valuations "stretched""


h/t @Not_Jim_Cramer

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Thu, 05/15/2014 - 14:50 | 4763547 Zirpedge
Zirpedge's picture


Thu, 05/15/2014 - 14:52 | 4763559 NotApplicable
NotApplicable's picture

Meh, who cares?

Thu, 05/15/2014 - 15:23 | 4763666 Pool Shark
Pool Shark's picture



From 2009:

A slight balding figure at the back of the theatre gave a hand signal, and one by one, the smart money began to leave the building. “Evening, Mr Blankfein” said one taller man, as he passed. “Don’t forget to yell FIRE when you get outside, Mr Mack” said Blankfein, and he smiled.


Thu, 05/15/2014 - 16:52 | 4764015 pemdas
pemdas's picture

Looking at chart 2, hedge funds, institutions, and individuals have all been net sellers for years. How can they be all in?  Furthermore, if they are all net sellers, who is the net buyer? Foreigners? Company buybacks?

Thu, 05/15/2014 - 17:26 | 4764127 Pool Shark
Pool Shark's picture






Thu, 05/15/2014 - 19:08 | 4764498 Muppet
Muppet's picture

* gulp *

Thu, 05/15/2014 - 15:26 | 4763680 hungrydweller
hungrydweller's picture

Time for the 3:30 rampfest?

Thu, 05/15/2014 - 15:32 | 4763696 FieldingMellish
FieldingMellish's picture

Why? The "important" money has left already. No need to ramp.

Thu, 05/15/2014 - 15:32 | 4763700 AccreditedEYE
AccreditedEYE's picture

Yes, this is really all that matters. In a world of endless liquidity, who gives a shit about historical vol? They'll take it to zero.. nobody cares.

Thu, 05/15/2014 - 14:54 | 4763563 The Axe
The Axe's picture

VXX   is the only tool that the TOOLS at the FED need

Thu, 05/15/2014 - 15:19 | 4763655 Carpenter1
Carpenter1's picture

The fear is palpable, bulls desperately trying to prop up the Russel, now less losses than big indexes. All time high leverage, all time high buy in, if this market caves, there'll be lots of work for street cleaners to do washing brains off pavement

Fri, 05/16/2014 - 08:52 | 4765971 Nobody For President
Nobody For President's picture

As of Tuesday, I got vry big on TAZ.

It has bit me hard last year, but I'm learnin', 20 K up this week. I hope this is the great correction, but my stops are in.

It won't be brains on the pavement, it will be fial


When you sweep up paper money just to get it down the drain, you are pretty fucked allirght.

So I just stacked some Moer silver (easier local exchange than gold). So get both.





Thu, 05/15/2014 - 14:54 | 4763562 vote_libertaria...
vote_libertarian_party's picture

Soooooooooo you're saying buy buy buy?!?!?!?!

Thu, 05/15/2014 - 14:55 | 4763567 NotApplicable
NotApplicable's picture

According to those charts, NASDAQ is a screaming buy.

Thu, 05/15/2014 - 15:37 | 4763578 fonzannoon
fonzannoon's picture

It very well might be. Considering everyone is penned in, if you are looking for relative value, it's probably in tech. But if we are going Nirp you should grab some MCD with a 3% yield. Have a little of everything, the buffet is open.

Thu, 05/15/2014 - 15:21 | 4763587 Bill of Rights
Bill of Rights's picture

Housing tanking - check

Retail tanking - check

Earnings tanking - check

Stock market holding on for dear life - check

Bonds rallying - check

Money supply tanking - check

No one working - check

All this with an election coming in 6 months....the sheep are getting antsy. More Money printing should solve our problems.

Thu, 05/15/2014 - 15:00 | 4763593 Zirpedge
Zirpedge's picture

Tech stock are going to the moon! There are 7 Billion people on earth and Apple has only sold 170M I-pads.

Thu, 05/15/2014 - 15:04 | 4763607 slightlyskeptical
slightlyskeptical's picture

Yep . 7 billion people. Most of whom have a whole lot of standard of living increases yet to come. Long on the back of people. BTFD

Thu, 05/15/2014 - 15:08 | 4763615 ShorTed
ShorTed's picture

7 bln iPads to feed 7 bln people.  Who said Bill Dudley was a moron?

Thu, 05/15/2014 - 15:58 | 4763809 astoriajoe
astoriajoe's picture

an ipad in every pot.

Thu, 05/15/2014 - 15:23 | 4763665 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Don't forget that the Steve Job's worshipers own 2-3 on average so the number of people who own an I-Phad is much less than 170M.

Thu, 05/15/2014 - 23:31 | 4765308 BrosephStiglitz
BrosephStiglitz's picture

Keep riding that tired old whore of a market all the way to the bottom.  I'll buy back in after the bodies are dragged from the streets.

I only have my eye on a couple of stocks right now, and they aren't US companies.

Thu, 05/15/2014 - 15:05 | 4763599 medium giraffe
medium giraffe's picture

Chart 2 is astonishing.  A bag-holding operation that can be seen from space.

Thu, 05/15/2014 - 15:07 | 4763612 SDRII
SDRII's picture

NonGAAP deficit is only 600B. Bonus checks for everyone

Thu, 05/15/2014 - 15:07 | 4763613 B.J. Worthy
B.J. Worthy's picture

That 2nd chart just screams "sheep being fattened for slaughter."

Thu, 05/15/2014 - 15:11 | 4763624 hardcleareye
hardcleareye's picture

Time to bring out the Buy the Fucking Dip Cartoon....


Thu, 05/15/2014 - 15:11 | 4763625 Manipuflation
Manipuflation's picture

I am not sure where to post this but I know a lot of us think alike.  I guess you can call it OT but it is funny as hell.  Sorry for jacking the thread it is worth it.


Thu, 05/15/2014 - 15:17 | 4763646 fonzannoon
fonzannoon's picture

you should not have to post it anywhere. it should be the lead article.

Thu, 05/15/2014 - 15:45 | 4763751 Manipuflation
Manipuflation's picture

I'm not sure why I got junked for that link but who cares?  That was funny.  I am glad you guys are getting a laugh out of it too.  You have give credit where credit is due.  It was pretty clever for young males to come up with some shit like that.  They might end up being ZHer's one day.  We have to laugh once in a while I think.

Thu, 05/15/2014 - 15:53 | 4763791 therearetoomany...
therearetoomanyidiots's picture

I don't get it either, a couple of ne'erdowell 'insiders' distribute false information to try to take advantage of the stupid and ignorant masses.

Seems 'on topic' to me.  

Thu, 05/15/2014 - 16:17 | 4763908 Manipuflation
Manipuflation's picture

Thank you.  I think what I got out of was a sense of rebellion from the kids.  We need that.  I thought I saw a ray of light break through with that prank.

Thu, 05/15/2014 - 16:18 | 4763916 sdmjake
sdmjake's picture

LOL....Barry McCockiner

Thu, 05/15/2014 - 15:54 | 4763793 fonzannoon
fonzannoon's picture

I feel like that is the type of stuff we all used to do back in the day. The principal would find out who it was, call them in, read them the riot act, tell them to cut the shit, and on the way out they would get a pat on the back and hear the principal whisper "that was pretty funny". These kids will probably go to jail.

Thu, 05/15/2014 - 16:15 | 4763902 roadhazard
roadhazard's picture

I just sent it along to some who will get a kick out of it, thanks.

Thu, 05/15/2014 - 15:20 | 4763657 Bill of Rights
Bill of Rights's picture

Can you hear the teens now.


" Like OMG they want to like inspect my vag-ina like omg!...he he he I'm going for it. "

Thu, 05/15/2014 - 15:26 | 4763667 ebworthen
ebworthen's picture

Bet most of the girls in that H.S. have already submitted voluntarily to a vagina "inspection".

Great prank.  First year of H.S. my friends and I replaced the stacks of the school newsletter with our own edition; to include co-ed locker rooms and topless badminton classes in gym.

Thu, 05/15/2014 - 15:15 | 4763640 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Thank you retail for bailing out the big boys yet again. May your delusions bring you comfort during the next fleecing. Enjoy your serfdom.

Thu, 05/15/2014 - 15:29 | 4763688 ebworthen
ebworthen's picture

The great rotation, just this decades edition.

With that huge base of retail 401K's/IRA's/Pensions it must be like taking candy from babies.

Maintain the happy talk, the "invest for the long term" and "will you have enough to retire?" propaganda and fear mongering to keep the sheep in the pen until they can be slaughtered.

Lather, rinse, repeat.

Thu, 05/15/2014 - 15:34 | 4763708 Cthonic
Cthonic's picture

Don't forget, it's 3:30, and Treasury POMO resumes tomorrow and extends through Tuesday.

Thu, 05/15/2014 - 15:39 | 4763724 Bear
Bear's picture

It's 3:38 and ES is up five points ... good call Ct

Thu, 05/15/2014 - 15:38 | 4763719 Bear
Bear's picture

We are now ready for the Bear Party ... Retail clients are margined to the hilt, fattened up and ready for the eating

Thu, 05/15/2014 - 15:47 | 4763763 Yen Cross
Yen Cross's picture

    WTF is going on with the RUT?... It just levitated 1%... This shit is insane!

Thu, 05/15/2014 - 15:52 | 4763787 AccreditedEYE
AccreditedEYE's picture

Did you honestly expect anything different? You've been on here for a long time.. this should be old hat by now. CNBS.com rolled out 5 end-of-the-world headlines in a row. Sentiment trumps fundies every time; if you don't believe me, go ask the doof that wrote the short-CAT piece last year. *yawn*

Thu, 05/15/2014 - 16:07 | 4763860 Yen Cross
Yen Cross's picture

      Crazy times... Hey everyone lets buy the most risky equities just before war breaks out.

Thu, 05/15/2014 - 16:05 | 4763842 Cthonic
Cthonic's picture

Algorithms never forget.

Thu, 05/15/2014 - 15:58 | 4763810 ebworthen
ebworthen's picture

Bet Tepper had his shorts on last night.

Thu, 05/15/2014 - 16:06 | 4763852 AccreditedEYE
AccreditedEYE's picture

If Tepper's 13F's prove anything, he does/trades the OPPOSITE of what he says publicly...

Thu, 05/15/2014 - 17:24 | 4764124 AdvancingTime
AdvancingTime's picture

Modern Monetary Theory often referred to as MMT to its many believers removes much of the risk ahead and guarantees that we will always be able to muddle forward. MMT also known as neochartalism is a economic theory that details the procedures and consequences of using government-issued tokens and our current units of fiat money.  Newly acquired tools like derivatives and currency swaps  allow us to print and  manipulate away problems.

While reading an article about the growth of debt in China's non-financial sector I was forced to reflect on how debt is effected by the interest rates. In Europe the ECB had to step in to halt the economic collapse of Spain, Italy and several other countries that were on the brink. What you pay in interest on debt does matter accept in the manipulated land of MMT. Have we been lulled into complacency by the extraordinary actions taken by central banks and governments over the last six years? This is a key question we must face. More on this subject in the article below.



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