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From "Ho Ho Ho" To "No No No"; Santa Claus Rally Goes Negative
The Santa Claus rally, coined by The Stock Trader’s Almanac, is the performance of the S&P500 in the “last 5 trading days of the year AND the first two of the New Year." That means this year it is the performance from the close on 12/23. This morning's USDJPY-driven (home-prices helped) weakness has sent the Dow and S&P 500 into the red - extinguishing (for now) the gift that Santa left...
The only thing holding stocks up for now is 119.00 USDJPY
Charts: Bloomberg
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Wake me when it's down 12,000 points. Trust me, the lifts at Deer Valley are still packed.
In such a universally manipulated market, 120 points may well as be 12,000. The more frequent these events after such a long period of constant fiat fed gains, the more clear it becomes that the PPT is losing its grip, or just pulling the plug altogether. It's sad but some people really do believe the fantasy will go on forever. All bubbles pop - end of story.
I think we are past the point of the PPT. So much GD fiat has been created this thing is now self sustaining. Basic rent seeking of skimmed fiat.
That is why this thing isn't falling 500 points. It is not the PPT. It is the fact there is fiat oozing out of everywhere and people are plugging it wherever they can.
At this point, people could be eating each other and you would still see news reports of how well things are and the DOW is up 200 daily.
Shit's all make believe at this point. Like monopoly.
Look at the FRED charts long term. What went on in 2008 was the event horizon. Now the rules of reality are suspended. Anything that happens does so just because it can. No other reason.
pods
Looks like lumps of coal this year....
In 2007, the profits of the DJIA were up 11.69%. It was at least the third straight year of double digit profit growth. It was easy to understand how they thought the weakness in Real Estate would not sent us into a recession. Wrong, but easy to see how they would have been overconfident.
THe next year profits collapsed
In 2014, the profits of the DJIA will be up about 3.36%. We have not had double digit profit growth since 2011.
There's no excuse for the overconfidence this time. There are not the years of reserves to use for what is coming.
Nearly every indicator around is showing if not negative, then confusing results.
The CONfidence game that has been this recovery is nearly over.
The PPT didn't go away, it just went public, and again, all bubbles pop. Reality can be hidden for a time, it cannot be suspended.
btfd
btfd
omg now it's really time to btfd
Inconceivable.
Bottom is in. Merry Christmas everybody.
Yep. Indices already rebounding.
I come to ZH for the comments. The blog itself has lost all credibility.
Ah ah. Junk away. It's a fact, markets started rebounding as soon as ZH posted their "end of the world" update.
We'll probably be in the green in the next hour or so.
OK, you've been junked
Now bend over and spread em..
Why. Are you going to check for junk in the trunk?
"There's never been a better time then now to ...."
u no the mantra ....
ZH doing it again. The market's been open for what? about an hour?
exactly. everything will finish up today. just like it has for 6+ years. nothing on the horizon is going to change buy the dip until there is social unrest causing the BOJ and FED to stop buying equities or equity derivatives. Now the ECB is getting in on the racket too, so we'll just go even higher.
The 1% isnt finished owning it all yet, btfd.
But Podemos activists say the mainstream parties are missing the point: their group offers not just new personalities and a new policy mix, but a whole new way of thinking about politics, giving greater voice to ordinary Spaniards who feel ignored by a political class derided as "la casta" or "the caste".
Podemos has set up hundreds of local assemblies known as "circulos" across the country, staging unruly weekly meetings at which Spaniards can vent the anger built up during worst economic crisis since World War Two.
https://ca.news.yahoo.com/rise-spanish-populists-overturns-two-party-sys...
Santa claus is fake just like this "market", so a very appropriate association!
quick!!! roll out that little female elvin troll to keep saying the word "patients"
USJPY up 40 pips since this piece...55 now
ZH please send me a text before you post these market bottom indicators.
I'd love to buy this premium service.
Today was a great day to buy ahead of the January effect.