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Seriously, Again!?
Seemingly catalyzed by opaque black-box bank earnings (and aided by a run for 107 stops in USDJPY), the S&P has jerked 14 points higher in a few minutes as bond yields remain entirely unimpressed in an uncomfortable case of deja deja deja vu from last week. 10Y yields are below 2.20%, 30Y under 3.00%, and 5Y under 1.5%.
Disconnect Deja Vu
The driver of the momo ignition... JPY as always...
Charts: Bloomberg
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Welcome back my friends to the show that never ends. We're so glad you could attend, come inside, come inside.
Dont worry...wait till another fund starts dumping mid day like yesterday.
From Frontrunning:
Too-Big-to-Fail Banks Face Up to $870 Billion Capital Gap (BBG)
“Banks should be able to replace existing debt with bail-in-able debt,” said Ed Firth, an analyst at Macquarie Group Ltd. in London. “Spreads have come in so much that the pricing differential is likely to be very small. Debt markets are in an extraordinarily generous mood.”
Expect a green close today since the market fell in five very clear waves from the close last Wednesday and it's over sold short term
So perhaps we'll see some jagged correction pattern these next few days before the market plummets even deeper into the abyss next week
So go out and get a few moar rounds of golf in before the weather gets nasty
Or go out and put a few moar holes in things with your weapon of choice
Remember also that today we get the ruling from the European Courts regarding Draghi and his OMT. If they find that The Emperror has no (German) clothes, all bets are off??
3 days of POMO start today as well.....must give the illusion that earnings are awesome!
the courts will rule in favor of the ruling class, very predictable...
But not when something is blatantly unconstitutional and when the 1000 pound Gorilla (Merkel) is against it. Except perhaps in The US......
And with the caregiver strike in Liberia the WHO's "official" death toll count will stagnate while the streets and homes pile up and the spread of the disease accelerates. Should be good for a few up points on the DOW until reality intrudes agains.
http://www.liberianobserver.com/health/%E2%80%98they%E2%80%99ll-never-co...
Come inside, the show's about to start! Eat some beans then rip a smelly fart!
Screw this shit. I cashed in my chips last year and am sitting on the side line!
Isn't sitting on the side line what all "Gubbermint Workers" ever do?..;-)
Most do but some prepare. I don't trust my handlers ;)
Btw, I'm an "ex" gubbermint worker. I cashed in my chips.
Styx - Grand Illusion - a propos - well quoted!
on the sidelines waiting patiently for land prices to come back down. seeing a few acreage plots at reasonable prices. a ways to go though.
racking some miles on the corolla, certainly not a display of wealth, just the way I like it. broke fucker looking for a deal...
Don't wait too long as the number of chairs are dwindling and the music is about to stop.
Wrong..Emerson Lake and Palmer....
Give the man a cigar!
https://www.youtube.com/watch?v=C_zo0FiNheI
The song remains the same!
More like karn evil 3rd impression
Seriously, Again!?
Yes.....again.
Till we get it right anyway...
http://www.youtube.com/watch?v=OyBSrBqogPY
Can't stop this! Lets thrown in the black plague and SP will double in no time!
Weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee..............
It'll close in the red.
Agreed. They day is very young yet, the suckers will BTFD and pile their cash in, only to be fleeced.
Can't kill all the cows - they provide you with the milk. Need a few green days here and there to keep them in the game. So, expecting a close higher today. Either that, or it's black Tuesday.
Yes.
The market will go up today, otherwise it will go down.
Brilliant and guaranteed to be correct.
put your hands in the air, like you really do care...
@LULZBank: I like your well thought out strategerising. Do you have a paid-for newsletter that I can subscribe to?
LULZBank only accepts qualified muppets. And it's newsletter... you need to understand that you have to do the opposite of what it says (don't tell anybody)
Hope so but the BTFD folks are 99 out of 99 so it's going to be a hard habit to break.
pOmO
Only to be hammered after more sheeple money is injected.
The Baron will get a few for dollars while he's liquidating stocks so don't complain. From our viewpoint those puts won't be so crazy expensive for a bit
Looks like we are going to have to bomb the JPY. It is the only way to end this War.
GPRO up 4.21%, TWTR up 2.23%, FB up 1.71% in premarket
amazing.
i fucking wake up early this morning and s&p futures were flat, as were all the futures pretty much.
within like 5 minutes, dow, nasdaq, and s&p futures fucking spike and the fucking shitshow that is europe all the sudden erases all its fucking losses.
it better fucking end red today, i guess its ok for the ''market'' to fucking go up forever, but 3 down days in a row and we must spike futures.
fucking shitshow.
fuck u all bankers, die die die!!!!!
Shorts got burnt?
Welcome to the Wild Wild West.
I'm as much a bear as anyone, but markets don't go up or down in straight lines. The indices are oversold on a 4 hour, daily and weekly basis. With that ridiculous non-liquidity dump last night I would expect some small bounce.
DavidC
i'm thinking it is 1938,ha...
Because, such as.
/Probably the most American statement ever
//Explains the ""market"" better than CNBC ever did or could.
Use this mini-bounce to GET THE FUCK OUT of US stocks!
Stocks are possibly on the precipice (at this point, Hussman's argument is very strong). If you've enjoyed the massive bull run over the last 4+ years, just think about your trade-off----if you stay all in, your UPSIDE is adding a few more percentage points to your 150+% gains; your DOWNSIDE is a 40-50% loss, wiping out much of what you've gained....on paper....so far.
IS IT WORTH THE RISK?
Oh and BTW, Treasuries don't lie.
10year at 2.21. They may fib a bit though, right?
See? Fucking bear trap. Markets are rigged.
For months the major world currencies have traded in a narrow range as if held in limbo by some great force. This has allowed people to think we were on sound footing as central banks across the world continued to print and pump out money chasing the "ever elusive growth" that always appears to be just around the corner. Recently some currencies have made multi-year highs or lows depending on the match-up .
The Fed recently whacked the dollar down but for how long? Because of weak demand for goods and most of this money flowing into intangible investments inflation has not been a major problem, but the seeds for its future growth have been planted everywhere. John Maynard Keynes said By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
While there are not many Bond Vigilantes there are a slew of Currency Vigilantes and they are ready to make their presence known. Weakness in the value of the Yen, Pound, and Euro must not go unnoticed. More on why this may be a signal that currency trading is about to get very wild in the article below. Please note, this may also be sending a signal that the whole system is unstable and the stock market is about to drop like a stone.
http://brucewilds.blogspot.com/2014/09/caution-alert-currencies-may-get-wild.html
Because there is never a better time to go long then when all the charts have broken down. Not that charts or fundamentals matter anymore.
My guess is we repeat yesterday but trying to game this rigged casino has been a waste of time for many years.
Sell it. It is going lower. Saw this every day in 2008. Sometimes as much as 400 points pre-open pump, only to give it all back. No QE, no market gains. QE can pump a market up, but cannot hold it up.
I was trading all that. Some of the largest moves were UP, not down. And yes, I'm a bear!
DavidC
Yep. The S&P daily chart is offically in a technical break down. Every rally is a chance to escape.
POMO
Its too ripe right now for a short-squeeze not to happen.
Pump the open, dump the middle, then rip your face off into options EXP ... too many puts to pillage between now and Friday to not do so.
This looks JUST LIKE the Flash Crash which happened on a Thursday, the day before a floor vote on Dodd-Frank inclusions, and two days before the weekend vote on whether Greece would get their first bail-out or not. Nothing like a relentless beatdown to get the politician puppets to comply with more monetary heroin for the crime syndicate.
A little financial terrorism to get the European Court to cave today, perhaps, followed by a celebratory rally when they do.
Longer term, we're getting whacked.
Oh, and there are POMOs today, tomorrow and Thursday, albeit not large ones.
DavidC
Unlike China which has accumulated real assets with its trade surpluses, Japan blindly held financial assets (USD and UST) and now demographics and competition from China and other export nations has reduced trade revenues while energy has increased trade cost. Japan is hosed to no end and will always put a bid under the market until the sovereign supernova. Just use it to sell all float scams and buy gold.
What real assests has China accumulated? Piles of US and Euro bonds, right? US and Euro real estate, right? Sounds exactly like the Japanese in their heyday.
But you have to look at these easily-portable assets in the correct light. That is the Communist Party's joint 401k and Swiss Bank Account in case something goes wrong in the land of the Ghost Cities.
Looks like Zero Hedge is foaming at the mouth again over all the doom in the world. The market is 8% off its previous all time high. :|
8% off it's previous all-time high-for now.
Rarely a better buying opportunity! Don't miss out!
Yesterday was a FED holiday, so now they're back to work. I will be shocked if the equity markets end in red today.
STYX - THE GRAND ILLUSION (Bravo a Propo) Winner!
Citigroup tops Wall Street 3Q forecastsAP(Tue 8:38AM EDT)
Glad they cleared that up.
election only 3 weeks away - DOW 17000 S&P 2000 soon
What has been ... will be again.
How anyone still retains faith in the "market" is a mystery.
They are recruiting college students, with as little as USD 300, all over the world into FX trading via seminars. They teach them "when" to buy as per technical analysis and charts, which if I understood correctly, was BTFD i.e. everytime the trend line broke the 50DMA or such.
(The student who explained it to me was not so sure himself, just said the seminar said to buy when a certain line on the technical chart fell below a certain point)
If you want your pennies, you can have you pennies. BRING ON THE STEAMROLLER!
Have not commited any new money to my Trading Account in like 4 years, and don't see how that will ever change. Too bad I am too chicken to cash in my 50%+ loss ;( and get completely out.
I broke even on china reverse merger schells and bailed before they were proved to be fraud scams...
closed all trading accounts and went back to real estate investments. breaking even is good...
Pavlov's market salivating, Bernanke and Krugman's beards combined not thick enough to mop up the drool.
BIG GUYS CALL THE SHOTS... IF THEY FEEL LIKE BUSTING SOME SHORTS THEY ARE WELCOME TO IT BY THE SEC... ONLY TAKES A COUPLE OF BILLIONS, SMALL CHANGE FOR THEIR MULTI BILLION FUNDS...
POMO today and POMO on wed.
Woah!!!!!!!!!!!!! Yellen the fucking nuisance is fixing the economy again.
BTFD Don't sell your trannies short. The POMOs are about to do their thing.
"QUICK JANET....SACRIFICE ANOTHER GOAT, IT LOOKS LIKE ITS WORKING!!!!"
- The Federal Reserve. (8am this morning)
Stocks will explode higher today. You, me, we are not in control. Even the PPT gets a day off now and again.
I keep telling this. The dumb money buys at the open while smart money leaves at the close.
Looks like the highs are in for the day. That was your chance to get out. Top left to bottom right....muppetz