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S&P 2,000 On Lack Of BTFATH Slack

Tyler Durden's picture




 

Mission Accomplished... Retirement for all. A year ahead of Goldman's schedule, and with Treasury yields plumbing multi-month lows, US equities are opening this morning at new record-er highs as the S&P crosses the 'awesome' 2,000 Maginot Line for the first time (despite Yellen's hawkishness and Kuroda's playing down moar QQE leaving Draghi left to save the world). Can you feel the wealth effect surging through your income streams?

"wealth effect"

 

Perfectly normal...

 

and then there's this...

 

As an aside, stocks are now on pace for the best August in at least a decade...

 

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Mon, 08/25/2014 - 10:11 | 5140321 buzzsaw99
buzzsaw99's picture

i don't think anyone expected the algos to stop short of 2K.

Mon, 08/25/2014 - 10:20 | 5140353 Dr. Engali
Dr. Engali's picture

Actually, there were two different commentators boasting about buying puts on Friday. Apparently they believe we still have a market.

Mon, 08/25/2014 - 10:23 | 5140366 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

When the hopes of the masses rests on a bunch of lies don't be surprised when the masses revolt after the truth slaps them in the faces (as happens occasionally).

Mon, 08/25/2014 - 13:28 | 5141127 zaphod
zaphod's picture

The S&P is not up.

The Dollar is down....

Mon, 08/25/2014 - 10:27 | 5140386 buzzsaw99
buzzsaw99's picture

the subject of ridicule by most on here

Mon, 08/25/2014 - 12:32 | 5140905 Gromit
Gromit's picture

Bought some SPY puts......

Mon, 08/25/2014 - 10:13 | 5140324 huggy_in_london
huggy_in_london's picture

Just in time for the worst September in, oh, i don't know... ever?

Mon, 08/25/2014 - 10:13 | 5140326 buzzsaw99
buzzsaw99's picture

party like it's 1999

Mon, 08/25/2014 - 10:15 | 5140335 huggy_in_london
huggy_in_london's picture

Yeah, doubled since 1998.  No bubble to see here.  Actually, maybe its not a bubble.  Maybe it just proves that money is worthless now.

Mon, 08/25/2014 - 10:38 | 5140438 RaceToTheBottom
RaceToTheBottom's picture

This time is different.

Mon, 08/25/2014 - 10:52 | 5140523 rqb1
rqb1's picture

It's all about fundamentals

Mon, 08/25/2014 - 11:38 | 5140698 PartysOver
PartysOver's picture

"It's all about fundamentals"  I was laughing so hard at that I unleashed a personal biological weapon.   The dog even ran out of the office.

Mon, 08/25/2014 - 10:21 | 5140354 DullKnife
DullKnife's picture

You party like it is 1999, me?  

I'm too busy living the good life that my investments allow me:

Bank savings/CD's: 0.02% savings and sub-1% CD's.

Solar energy stocks: died

Metals stocks: dying

Energy stocks: comotose

General stocks: dumping.

Guess I should have bought what the Fed does...the DOW index.

But too late, my investment cash locked up in red stocks.

Great economy though!

And laid off family members have more personal quality time...to dumpster dive.

Thanks Obama/Dems!

 

Mon, 08/25/2014 - 10:29 | 5140393 Killtruck
Killtruck's picture

Metals stocks? Is that an oxymoron?

Mon, 08/25/2014 - 10:30 | 5140399 LawsofPhysics
LawsofPhysics's picture

What is this "counterparty risk" you speak of?

(because that is precisely what you are referring to)

 

/s

 

Mon, 08/25/2014 - 11:12 | 5140615 tgatliff
tgatliff's picture

I doubt the FED and company (aka Citadel's HAL 9000) will allow the markets to free fall with an election coming in Nov.   I would assume we will remain in bizarro land until the end of the year.

Mon, 08/25/2014 - 10:14 | 5140329 Dr. Engali
Dr. Engali's picture

Come on S&P 3000!

Mon, 08/25/2014 - 10:15 | 5140331 SHEEPFUKKER
SHEEPFUKKER's picture

<-------------- Y2K

<-------------- S & P 2k

 

Bigger farce?

Mon, 08/25/2014 - 10:19 | 5140350 swmnguy
swmnguy's picture

At least Y2K started as something potentially real.

Mon, 08/25/2014 - 10:22 | 5140359 Dr. Engali
Dr. Engali's picture

Please... I saw Y2K for what it was.... another meme scare tactic to get people buying and upgrading computers. People thought I was nuts for calling it the bullshit that it was.

Mon, 08/25/2014 - 10:32 | 5140404 clade7
clade7's picture

I tried to use 'Y2K' in my sales pitch selling equipment in MS and Al back then, since it was all the rage....assuring potential customers my stuff was Y2K compliant...

 

One old guy at a fab shop in MS said "Y2K?  That damned ol little robot on StarWars?  My shopvac could kick his ass"!

True story.

Mon, 08/25/2014 - 10:15 | 5140334 DavidC
DavidC's picture

There's a $2.00 - $2.50 billion POMO tomorrow and $0.95 - $1.15 billion on Wednesday - after that, who knows?

DavidC

Mon, 08/25/2014 - 10:16 | 5140337 101 years and c...
101 years and counting's picture

exactly 200% increase from the 09 lows in 5.5 years.  na, its not a bubble. 

Mon, 08/25/2014 - 10:19 | 5140346 buzzsaw99
buzzsaw99's picture

it's not a bubble, a bubble has a skin. this is vaporware which can drive up prices without ever building a position so there's really nothing to sell at the end of the day.

Mon, 08/25/2014 - 10:16 | 5140338 Keltner Channel Surf
Keltner Channel Surf's picture

It seems an edifice is being built in thin trading that can be knocked down post-Labor Day.  Machine badminton on light summer breezes ...

Mon, 08/25/2014 - 10:22 | 5140367 astoriajoe
Mon, 08/25/2014 - 10:26 | 5140385 Keltner Channel Surf
Keltner Channel Surf's picture

Priceless !    (I have inside knowledge that the same technology used in this sporting robot is incorporated, with just a few tweeks, into the Russell algos that are trying to lift the roof off the circus tent as we speak.  Not sure they have enough horses . . . )

Mon, 08/25/2014 - 10:16 | 5140340 Bill of Rights
Bill of Rights's picture

All Clear Given Following Active Shooter at Fort Lee Army Base
http://www.thewire.com/national/2014...rt-lee/379065/

Mon, 08/25/2014 - 10:18 | 5140342 jmcadg
jmcadg's picture

Is everyone seriously waiting for Draghi to save the day.
WTF.
He'll talk a load more bullshit and do NOTHING!
Unless there is a European country willing to cede sovereignty.
Not going to happen.

Mon, 08/25/2014 - 10:19 | 5140352 Balvan
Balvan's picture

S&P 2theMoon

Mon, 08/25/2014 - 10:24 | 5140355 ptoemmes
ptoemmes's picture

Ho hum.  Did something important happen?  I didn't think so.  Carry on to 2,100.

 

Is that graphic for a Corona beer or Viagra commercial?

Mon, 08/25/2014 - 10:21 | 5140356 monopoly
monopoly's picture

Well, this market has left me far, far behind. But at least I learned a long time ago not to short stocks in this "twilight zone". 

Mon, 08/25/2014 - 10:20 | 5140357 Budd aka Sidewinder
Budd aka Sidewinder's picture

The higher somebody stacks a pile of shit the bigger the mess it makes when it falls over and this is one HUMONGOUS PILE OF SHIT

Mon, 08/25/2014 - 10:22 | 5140360 juggalo1
juggalo1's picture

S&P hits new all-time intraday high.  Doom-preppers everywhere gnash their teeth in rage.

Mon, 08/25/2014 - 10:22 | 5140364 DullKnife
DullKnife's picture

Wish I could create wealth out of nothing, like the Govt Fed.

Then I would be rich!

Mon, 08/25/2014 - 10:25 | 5140374 q99x2
q99x2's picture

BTFD. Praise be to James Altucher. That man is a genius.

Mon, 08/25/2014 - 10:26 | 5140377 Hubbs
Hubbs's picture

Man, do I feel like a dumbass after thinking  I was so clever back in October 2007 when I got entirely out of the stock market ahead of the crash. Problem is, I never got back in, thinking that unless things actually improved (based on traditional economic fundamentals), I would not get back in the market.

Hello, APMEX? I would like to place an order for 500 more silver Maple Leafs.

Mon, 08/25/2014 - 10:49 | 5140502 juggalo1
juggalo1's picture

Well, I hope you learned a lesson about market timing.  You never know.

Mon, 08/25/2014 - 11:09 | 5140592 Kaiser Sousa
Kaiser Sousa's picture

"Hello, APMEX? I would like to place an order for 500 Maples Leafs..."
that was beautiful....my sentiment exactly...

Mon, 08/25/2014 - 10:25 | 5140379 metastar
metastar's picture

Beware the S&P 2K Bug

Mon, 08/25/2014 - 10:28 | 5140391 shanearthur
shanearthur's picture

This market's resilience makes Ebola jealous.

Mon, 08/25/2014 - 10:33 | 5140405 Kilgore Trout
Kilgore Trout's picture

The sheeple are feeling quite wealthy

It seems the economy's healthy!

But when they've bought gas and food,

it spoils their mood.

The effects of inflation are stealthy.

Mon, 08/25/2014 - 10:33 | 5140411 Son of Captain Nemo
Son of Captain Nemo's picture

For a minute there I thought this was a Cialis advertisement.

What a great analogy for the S&P and DOW as a "side-by-side" pair of bathtubs with one of them being a "dicK' that can't get hard anymore!

 

Mon, 08/25/2014 - 11:00 | 5140554 Finnman
Finnman's picture

Thanks Mario Draghi, great macarone, SP is now over 2000 ...!!!

Mon, 08/25/2014 - 11:05 | 5140571 RisingSun
RisingSun's picture

"Can you feel the wealth effect surging through your income streams?"

 

Yes I can, unlike many top callers, I am invested in this market and happy :) Actually I will buy my first investment property(its a flat, but gotta start somewhere)  with my 2014 gains later this year, still keeping my core divy stocks for years to come.

Mon, 08/25/2014 - 12:24 | 5140878 hot sauce technician
hot sauce technician's picture

This market is how central bankers launder newly printed fiat and distribute it among cronies. Keep that in mind. And adjusted for inflation, I wonder How much this market has really gained.

Mon, 08/25/2014 - 13:01 | 5141027 walküre
walküre's picture

You're feeling lucky, punk? Well, do ya?

Mon, 08/25/2014 - 13:00 | 5141004 walküre
walküre's picture

This is the old guard's one last ditch effort to strike it rich on their way out of this world. Can't wait for the old guard to expire and put the lid on this chapter that already belongs in the dustbin of history.

That generation of geezers lives like the future belongs to them and a scorched Earth is all they intend to leave behind. The Cialis or Viagra comparison with the picture make 100% sense as well.

You want to know what's wrong with this day and age?

Old geezers not prepared to face their age and think they can keep going as long as they can get it up because getting it up is all that ever mattered to them.

They're getting it up alright. Money for nothing and the chicks for free!

Tue, 08/26/2014 - 10:25 | 5144705 torabora
torabora's picture

S&P doubling since 1998 is a near 5%+ return....a bit hot but isn't representative of the zany DOW 36000 touted way back when. Gold was $294 (add $60 for coins)....your best returns would have been in SF Bay/LA area housing if you could have owned outright through the crash.

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