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Let's Hear It For Today's "Market" Comedy
Stocks are green on the worst economic growth data in five years... you just have to laugh...
Stocks appear to "know" something... or maybe the massivley more liquid and active FX and bond mnarkets are right?
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You can laugh a bit harder when silver and gold go red soon. Gold red already.
Can't wait to get my gold jewelry for free in a few months. Don't need a boy friend any more for shopping!
MAN I'm planning my Mr T. Gold chain collection, pretty soon it will be so easy at $5 an oz!
I pitty the fool who buys paper gold - Mr. T
I wonder if those during Weimar had similar thoughts? Currency printers will create ever higher prices while the ability to buy anything goes further and further out of reach.
Who cares if Main Street is dead?
It's BULLISH!!
Honey badger market don't give a shit!
pods
"STAB-EEL-EEE-TEE" ! ~ draghi
Dead is very stable.
We have 3000 tons of gold. We will pay someone to remove this junk clogging up our safe. Yours Sincerley Fort Knox
who needs GDP growth
when you got the Fed...
yes, they did. banks had to employ more tellers to handle the brisk business of new retail customers getting into stocks
Will those chains be made out of the Paper Gold Contracts as the paper is just as good as Gold?
"Whatever it takes"
We have a five year auction today in case no one noticed.
After 7 years of BS....you laugh...I forgot how
"You can laugh a bit harder when silver and gold go red soon..."
i can laugh when i tell APMEX to Fed Ex my 500oz order later today when they fuck with the phony paper price again...
there, fixed it for you...
Why would you pay extra ordering from APMEX?
Never heard of Merit Financial?
sometimes there r specfic bars/rounds i prefer...
if im stacking generics i got to my local dealer...
plus, APMEX offers me prefered pricing as i have bought a bunch from them.
Local dealers don't leave paper trails.
man at this point i dont give a fuck about what they see...
fuck the government...if they think they wanna try and step to me, my family, and our real money - let them step.
As long as they continue to TAPER I cannot care less. (But we also know that the TAPER is a fake...as every other lie which they spew...REVISION MY ASS...They knew this from the start.)
Stop QE altogether and watch what happens.
And once again we see that "bonds usually get it right."
I'm getting ready to start putting my toe back in the water here.
The long treasury trade has not been a home run...nor has it been incorrect however. The Fed destroyed the trade when it announced "Taper" out of the blue. But the play itself has turned into the right one as the Zero Interest Rate Policy (ZIRP) has turned into the "ZAP" (Zero Anything Policy.)
This thing is being wound down. The Fed had gotten their correction in the debt markets...my lunatic fringe ranting a and ravings I think have exposed well the the full risk both of the collapse of 2008, the crisis response and the meaning to all of us 'mericans down in here "who the phuckville."
I think overwhelmingly this is a political problem not an economic one. The crisis is far from over and it remains to be seen in the Tea Party is going to start doing more than bear some teeth but start chowing down on some read meat here.
If they come out swinging against the status quo however (there is no "Establishment" in the USA in my view) and start talking in terms of who's paying the bill here for all these Federal Programs that are total failure then I think you start to have the possibility of a real recovery take hold here.
In short if the American People simply "vote no on Crazy Talk" at least we'll finally have a civilized debate.
Because the markets are smarter than you and just KNOW that this number can't be real but even if it is, it means at least a stop to the tapering if not another "pump up the volume" moment...
well, its not like they are going to stop pumping the global ponzi as long as they are still allowed to manufacture digital fiat at the push of a button. this is the movie on the train, there is no reverse, you can only jump off before the crash.
Well it is all in the past, the future is rosy, buy, buy, buy
the market makers cant be caught long when some pesky econ data point comes out.. they have the last say on who gets *^&*$#ed
I'm rolling on the floor hysterical and i can't get up
DAMN the torpedoes! Must.....save....STAWKS!
I predict that the top 20% or so of our population will continue to do just fine, and the other 80% can eat a dick.
The 20% will be eating at Taco Bell watching CNBS with S&P500 at 5000 and the rest of us 80% will be cooking rat burgers in the sewers.
From the scenes in the movie 'Demolition Man'
So, your'e really saying the top 2% will eat steak, next 18% dick, the rest, dickburger tacos. Or nothing?
An interesting paraphrase: "let them eat dick."
Walmart has the best price on dicks, you can buy em by the bag. "Bag o' Dicks" Made in China though so ya never know.
That must make walmart numbers this year and China GDP growth of 8%
A bag of dicks.
Does that come with tobasco or ketchup?
Are you American or what? John Kerry says "eat your ketchup"
bottom 50% are doing fine thanks to gov handouts, they don't have high aspirations anyway... its that 20-50% bracket of suckers that are still trying to be in the middles class that are eating a bag dicks every month, week etc.
Whatever it takes to keep them from eating the rich.
The bottom 50% have also been convinced that bags o' dicks taste great.
Are we talking the canned, spotted variety?
It really isn't that bad, or that cheap anymore
http://dossy.org/2006/02/spotted-dick-you-put-it-in-your-mouth-are-you-s...
As I said in the earlier post, yesterdays large sell-off is a bit suspicious on little news. Just another dump and pump.
Come on now! Good news is good news, and bad news is good news. Lather, rinse, repeat.
So when we have the next Bear market, which I'm guessing wont be for like 350 years, will stocks go down on good news?
Actually this is bearish. Smart money is defined as yesterday's SMI - opening gain + last hour change.
So a gain in the opening means the smart money is exiting the stock market.
the shit is so fucking ludicrous...
and from Fox Biz, to of course Goonberg and CNBNuts they r desperately attempting to down play the revision while still predicting 3% plus GDP in the next print......
a complete fucking joke....
and im mesmerized by the sideways Gold and Silver phony paper price dance right under 1320 and 21 per oz..
its hypnotizing...
FUCK OFF...
(pssst farmland)
wood lot...
Job openings!
To summarize the good Kaiser: go to the coin shop.
I told you already. Yesterday's sell off was in preparation for today's BTFD.
Besides, you all know the market won't fall. A one day selloff is just a oneoff event. BTFD, BTFATH. It doesn't matter. Print til the cows come home, pigs fly and the Dow crosses 100,000. We are Full-on Zimbabwe.
madcow,
You did.
Biggish POMO today and end of month/end of quarter coming up in the next few trading days.
DavidC
Whenever the SHTF, people will BTFD in the beginning, but as the market creeps lower and lower, those that BTFD will see the dip isn't going back up, and then panic selling will set in. The FED won't be able to pump enough to keep markets up (but they'll give it a good try).
Hang on, bitchez!
Yee hah! Whadda ride!!!
S&P is up 50% over the last two years.
The FED will print until no one at all will buy their crap. Look at Zimbabwei. Trillion dollar bills. Just load up on stocks. it doesn't matter what. It's all they've got left. Print print print.
It's probably corporate buybacks to juice balance sheets before the EOQ, Half year, fiscal year for a lot of companies... Also hedge funds chasing anything with a pulse.
Spot on YC.
DavidC
Right on. Buy back to juice prices, give the stock to execs - after all, the increased stock price increases value of existing options - screw the pension fund investors using their own money. Whoo ha!
All we need to complete the picture is to privatize Social Security. That would goose up the markets for a year or two.
Craig
This market is as high as balls, it was so high it even forget there was a recession.
We've been in recession since 2013 (after one from 2007-2010). It's just the way "they" measure it is not reflective of the actual economy.
Isn't the real story: How good earnings were in the 1st Quarter given a -2.9% print on GDP? Imagine what they will be in the 2nd Quarter.
And yes they were rigged, manipulated, messaged and other, but until the lemmings on Wall Street nelieve it does it matter?
This thing is going to 2200 as a starting point
Or, the story could be HFT controls all this and if you don't have your money in farmland, you're complicit.
Your theory is right, but your timing is wrong. If you're buying farmland now, you're too late. Wall St already beat you to it. Iowa, Illinois, Minnesota, Kansas all have lots of land owned by Wall Street for the yield from cash rents. Drove the yield from about 7.5% to sub 5%. If you bought somewhere around 07 you did pretty well.
Then the question becomes will Wall Street ever begin dumping that farmland due to liquidity problems elsewhere or is this now permanent ownership of the land?
I think the arrogance of the NY FED is the downfall - no wonder the NYSE volume (retail investor demand) hasn't been this low since the nineties.
One day there will be volume, retail volume wanting to get out of stocks and possibly decrease risk allocations by 10-15%. When that happens (and it will), the NY FED will have to step aside.
Because when $1 trillion in selling pressure hits the tape, not even the NY FED can stop it.
POMO ends at 11a
This is the stupiest reaction I have seen in my 30 years of trading...only the central bank promise....fucking sick....JOKE beyond joke....broken VXX alogos....he he
Every morning the market is bid up on the US Open, the meme continues until it doesn't and yesterday it didn't. Let all the kiddos think they're going into BTFD and pull the rug out.
Is Crap, Nothing But Crap saying it was oversold yesterday, hence the bounce?
Insanity Rules!.....
I'm as bearish as anybody but on my charts the DAILY chart is very slightly overSOLD.
DavidC
Market should be up 200 ha ha fuck it
My how revealing
http://macroblog.typepad.com/macroblog/2014/06/torturing-cpi-data-until-...
How, exactly, does contrived CPI data indicate anything? How can you analyze bullshit?
Craig
" How can you analyze bullshit?"
By the number of Tribal dung beetles per cow cookie.
You can see this occuring in treasuries - despite the NY FED and primary dealers wishes, the long-end of the curve wants to go lower simply based on supply and demand. They can still put the brakes on it and keep the 10 year close to 2.6%, but it is a losing proposition.
must be smokin some good shit, man....
Q1 GDP....pffftttt....that's so last quarter.
perhaps a down -4% GNP would rally the market 300
I am shocked at the bizarre world we now inhabit. It's as if the laws of economics have no meaning. It's all random nonsense.
the laws of economics and physics have no meaning, until they do. can't run from them forever...
There are no laws in economics.
Craig
Because you said so?
What about law of diminishing returns?
Or law of association?
I guess my /sarc did not print.
Craig
The laws of economics were made-up by evil, agendized, Tribal, imbeciles, whose purpose was/is impoverishment of the vast majority of humanity and collapse of the worldwide system of nations.
A terrible dictator of Semitic origins will soon rise from the shadows to lead the world into a very short-lived tyranny in which the world population will be quickly reduced by 2/3 through biological pestilences and nuclear war.
Explain how this QE thing works again now? lol
Economy is no longer correlated to the equity markets. Companies are operating thinly, not hiring new people, and not paying employees more as inflation increase tranlates into more buybacks!! America, fuck yeah!!
This is what the Fed wants. They need the 10 year yield to drop to juice housing. They love bad prints that knock yields lower, even though yields are already too low.
deleted
duplicate
Down is up, up is bad, bad is good and good is the new down.
The fed res policy making has bent reason so far out of shape, its impossible to read anything anymore.
Yes, but it is doubleplus good still, right? The market can only go as directed...or not or maybe.
Sorry Tyler, That Joke Isn't Funny Any more !!!
Unicorns at both Atlantic Ocean Sides¡
its truly absurd how yesterdays ''market'' was down 118 dow points and that felt like a fucking 1987 type crash due to never seeing any selling, so any type of little selling feels like a crash.
this is how fucked up the fed made this market, its insane.
of course we have the worst gdp report in 5 years and this shit is green.
no one should be surprised though
how long will they and can they keep this shit up? the wheels are about to fall off the global economy...
... how long ? My best guess is 2014, if the Republicans win both houses, or 2016, if the Tea Party R's win both houses plus the White House. Otherwise, the banksters will manipulate and the Fed will cooperate to keep it going until about 2018 or 2019. But that may be wishful thinking on my part.
When it blows, you are correct, it will be a global collapse, and nothing will ever again be anything like what we have today. Ever!
Craig
It's Wizzard's First Rule: People believe lies due to desire or fear.
Here, we have both! Greed - and fear. Look at www.cnn.com/markets, lower right. In today's economy insanity rules, and markets can rise based on either, or both.
Craig
Crony Communism is working!!!
What's everyone's obsession with stocks and wealth/economic activity? The two have no correlation whatsoever.
I dunno....seems like another "short the afternoon" situation today. We'll see.
Somehow that series called the Twlight Zone from the the 60's (?) now seems so orderly and logical compared to the absolute crap we are now seeing on the screens.
I think I am developing a combination of a nervous twitch and uncontrollable laughter.
My only concern is how much shit can one fan take when it hits?
I was thinking it's more like the show The Outer Limits. The show always began: "Do not attempt to adjust your television set. We will control the vertical. We will control the horizontal..." while test patterns filled the screen.
"I'm only laughing on the outside,
My smile is just skin deep
If you could see inside I'm really crying
You might join me for a weep. [laughs]"
ATTN DOOM PORN CLICK BAIT BLOOGGERS:
My Ethically Mal-Adapted Starter Kits are available for the low, low price of whatever scrap gold and silver you can cobble together. Some of the features include:
1. Job listings for minimum wage part time.
2. Card board sleeping boxes.
3. Candid nudie photos of the rich and famous.
4. Free condiment and dumpster diving recipes.
This IS the bad scenario. Stagnation and decline not fast enough for you? Not enough blood in the streets? Move to a poor country. Or perhaps I should say poorer?
This is going to end badly.
It's pretty simple. Good news = market higher, Bad news = market higher
Why do people persist in thinking the "stock market" has anything to do with economic "fundamentals?"
It's just a casino game for the rich, manipulated by a handful of low life crime families in NY.
Of course it's going to go up when everybody knows it should go down. That's the way you steal money.
Hey......everything's OK...TWATTER is up 2%!!
The central banks are buying..............
I'm moving to Harare.
The move there will help me acclimatise for the great unravelling.
Gordon Long addresses and to my satisfaction explains the phenomena of the perpetually rising equities markets.
http://usawatchdog.com/iraq-about-us-dollar-hyperinflation-trouble-in-20...
Yup. Dollar reserve status is about to disappear. Way to go .Gov.
The REO-to-rent crowd might have it right. Ditch paper investments for overpriced physical assets. So what if they have to overpay for it. They can rent it and get a return. Hell, the fucking markets don't represent anything anymore. They're just a means of currency manipulation.
If you could earn 3-5% in short term investment vechiles they would ditch being a landlord for that at the drop of a hat.
you can't get 3-5%, anywhere, unless it is massively risky. Stocks are way overpriced. Bonds are crap.
There's nowhere to go. The FED has fucked up everything. Why not cash out and buy a rental unit. People have to live somewhere.
Now, don't get me wrong. Renting sucks. Every renter is a person that couldn't make it in the real world. They'll only pay when severely goaded or threatened. They'll destroy the property. They'll be a royal pain in the ass. But, it's a tax write off. It's a place to park money while the shit sorts itself out. it should grow equity.
Where can I go to protect myself from Yellen? That's the question.
Did'ja mean "market comity"?
?kämit?/ noun noun: comity; plural noun: comities'
I think now is an appropriate time to reflect on that oldie but goodie.
From 1968, Charlton Heston in the "madhouse"
http://www.youtube.com/watch?v=VFCM6TZgTMI&feature=kp
shame ya'll are a lot better at post facto commentary than actual trading.
real shame
They keep posting something on Yahoo boards about a Benzinga Charlie.
The only Benzinga Charlie I know lives in Queens, NY and is a mental defective, also hired by his uncle at Benzinga to read news and tout stocks all day.