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The Secular Death Of Market Bears Continues

Tyler Durden's picture




 

"Walls of worry"... seem to be crumbling...

 

 

Source: @Not_Jim_Cramer

 

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Tue, 02/17/2015 - 17:39 | 5795587 Paveway IV
Paveway IV's picture

Look at the segment of the graph for the last ten years.

That's the Fed giving shorts the finger. "You idiots fell for our evil plan! But we can print longer and faster than you can short."

They forget the words of Mike Tyson...

Tue, 02/17/2015 - 12:02 | 5794097 Ronan the Accuser
Ronan the Accuser's picture

You'll know there are no bears left when I turn bull. 

Tue, 02/17/2015 - 12:35 | 5794235 PartysOver
PartysOver's picture

I have been a Bull but not narried to her.  Just a torrid fling.  Then I will suddenly disappear.  Fat and happy.

Tue, 02/17/2015 - 12:02 | 5794098 LawsofPhysics
LawsofPhysics's picture

Yes, the "everything is awesome" meme seems to be winning...

 

hedge accordingly....

Tue, 02/17/2015 - 12:08 | 5794117 Spitzer
Spitzer's picture

Gold is still the only asset that does what the crowd thinks its going to do

Tue, 02/17/2015 - 12:13 | 5794135 LawsofPhysics
LawsofPhysics's picture

Paper or physical?  In the past we have used gold as collateral on big capital investments.  Always buying more when it's cheap and times are good, as well as clearing debt.

No matter what the talking heads say, gold is the preferred collateral at all central banks.

Tue, 02/17/2015 - 14:00 | 5794571 KnuckleDragger-X
KnuckleDragger-X's picture

But only for the CB's since the proles have no need for anything that might keep them independent like gold and guns.....

Tue, 02/17/2015 - 12:38 | 5794245 spastic_colon
spastic_colon's picture

the chart needs to be seasonally adjusted then it will look normal / s

Tue, 02/17/2015 - 13:55 | 5794541 astoriajoe
astoriajoe's picture

any recent businessweek covers that express that sentiment?

speaking of which, is bloomberg.com's new-ish site design horrible or what?

Tue, 02/17/2015 - 12:03 | 5794099 taketheredpill
taketheredpill's picture

 

 

Head/Shoulders break.  Going to ZERO.

 

 

Tue, 02/17/2015 - 12:04 | 5794103 taketheredpill
taketheredpill's picture

 

 

Sorry.  3%.

 

 

Tue, 02/17/2015 - 13:25 | 5794419 Panem et Circus
Panem et Circus's picture

Actually it's a classic middle finger pattern.

Tue, 02/17/2015 - 12:39 | 5794249 101 years and c...
101 years and counting's picture

what this really means.....whenever there is actual correction, there will be no short covering to provide artificial buying of stawks....

so, when this pile of shit starts tanking, it will go fast.  and, there really is no fed put to stop a $30 Trillion "market".

Tue, 02/17/2015 - 14:02 | 5794580 KnuckleDragger-X
KnuckleDragger-X's picture

big vertical drops always make for a great suicide......

Tue, 02/17/2015 - 12:04 | 5794104 WillyGroper
WillyGroper's picture

heads up...

chokepoint

Tue, 02/17/2015 - 12:04 | 5794106 Whitness
Whitness's picture

Dorsey Wright Sold out its signature technical analysis program. Probably because the "bullish percent" measurement no longer works when the FED controls the market printing trillions of dollars. Why even have a market then....

Tue, 02/17/2015 - 12:10 | 5794124 yogibear
yogibear's picture

The Federal Reserve is the market.

Abenomics goes US. Buying stocks with printed money.

Tue, 02/17/2015 - 12:10 | 5794107 J J Pettigrew
J J Pettigrew's picture

Merely a realization that the entire matter is rigged.

And for those who salute and parade around as free market capitalists, (ie Larry Kudlow) .... the reality is that they

are phonies.  They love the rigged game by the Fed...

And now for the geo poitical black swan event now that everyone has their money in the stock market because

"its the only place to put your money"....

7-10% every year....propelled by massive deficit spending that no one seems to care about anymore...as long as it propels the stock market

No room for bears or contrarians

And there never will be a rate raise..... because of the dock strike, because of the snow storms, and the reasons will always be there...

they will talk it up, but never do it.....keeping everyone off base and on hold.

Tue, 02/17/2015 - 13:59 | 5794567 beachdude
beachdude's picture

There are no rate increases, the fed follows the bond market. That the fed controls interest rates is an illusion...
http://www.elliottwave.com/freeupdates/archives/2014/06/24/Interest-Rate...

Tue, 02/17/2015 - 12:04 | 5794108 Thirst Mutilator
Thirst Mutilator's picture

Wait until they stick AAPL in the Dow.

Tue, 02/17/2015 - 12:04 | 5794109 Philo Beddoe
Philo Beddoe's picture

This bear is in hibernation. 

Tue, 02/17/2015 - 12:12 | 5794129 Bear
Bear's picture

I'm still clawing it out short, short, short ... but it doesn't 'feel' very good. My best buddy made 1.2m last year buying, buying, buying so my real pain is pride, since I know at sometime I will be right, there is a lot of wrong I've had to suffer .... The lament of The Bear

Tue, 02/17/2015 - 12:18 | 5794160 agstacks
agstacks's picture

"The problem with bubbles is that they force one to decide whether to look like an idiot before the peak, or an idiot after the peak."

Tue, 02/17/2015 - 12:10 | 5794121 Soul Glow
Soul Glow's picture

Everyone on one side of the boat we're taking pictures!

Tue, 02/17/2015 - 12:11 | 5794125 basho
basho's picture

so if there aren't any more bears only bulls then there is no market is there?

we have arrived in lala land.

Tue, 02/17/2015 - 12:39 | 5794246 PartysOver
PartysOver's picture

Just means no violent short squeezes.  Just perpetual bids one tick at a time.

Until it goes boom of course.

Tue, 02/17/2015 - 12:11 | 5794126 Spitzer
Spitzer's picture

I don't think I have heard or read the term "bond vigilantes" in 4 or 5 years.

Bond markets are the bubble of the ages.

Tue, 02/17/2015 - 12:14 | 5794139 LawsofPhysics
LawsofPhysics's picture

Correct.  Soon to be held by only central banks.

"winning"...

Tue, 02/17/2015 - 12:12 | 5794132 Bossman1967
Bossman1967's picture

these markets did crack. wtf moments all over the place. does anything explain this other than the word MANIPULATION

Tue, 02/17/2015 - 12:15 | 5794142 rccalhoun
rccalhoun's picture

i want some webvan, lehman and tesla

Tue, 02/17/2015 - 12:15 | 5794144 barry2001
barry2001's picture

If you are interested in drones check out this site http://pickyourdrone.com/

Tue, 02/17/2015 - 12:16 | 5794146 yogibear
yogibear's picture

"Everyone on one side of the boat we're taking pictures!"

With William Dudley at the NY Fed calling his buddies at Goldman to warn them in advance when he wants to take it down occasionally so they can colllect their larger profits. 

Goldman loves when more people put more on the table so they can collect it.

Tue, 02/17/2015 - 12:17 | 5794153 Eyeroller
Eyeroller's picture

Crashes come when the bears are done.

Tue, 02/17/2015 - 12:18 | 5794156 SillySalesmanQu...
SillySalesmanQuestion's picture

Ther are plenty of bears. Only problem is, they all have had their faces ripped off, been disfigured, squeezed and dismembered by those "stop hunting algos" of HFT fame.

NO SHORTING ALLOWED!!! EVER!

Tue, 02/17/2015 - 12:18 | 5794159 Keltner Channel Surf
Keltner Channel Surf's picture

How many major trendlines change
Even when the slope is strained?
Where were you when we were hitting highs?

Pundits say it just won’t fall
We’ll make more than the Powerball
Where were they while we were getting high?   

I hope you’ll never find me
Sleeping on a hayride
In a QE-induced coma holding SPY
But someday you might find me
Caught beneath the landslide
In a Keynesian supernova
A Keynesian supernova in the sky

Wake up the Fed and ask them why
ZIRP endures, she never dies
Watch them wipe a smirk from their eye
Shorts move quickly down the hall
Running from a fireball
What to do when we keep hitting highs?

'Cause people believe that they're
Gonna grow their profits ‘til summer
But you and I, we wonder why
The market’s melting up and we don't know why
Why, why, why, why?

When did pundits’ target change?
It’s double their 2016 range
Where are they as we sit on new highs?
Predict we’ll climb the worried wall
and make new bold, amorphous calls
Where were they while we were getting high?

We were getting high, we were getting high, we were getting high

Someday you won’t find them . . .

Tue, 02/17/2015 - 12:31 | 5794216 Spungo
Spungo's picture

You don't print money, but I do. Don't stop the party!

https://www.youtube.com/watch?v=i0vFid2tKbI

Tue, 02/17/2015 - 12:34 | 5794230 yogibear
yogibear's picture

It's why both the US and Japanese central banks take stocks to insane levels.

Each bubble ever larger and more destructive.

Price discovery would destroy the  economy.

So the Fed is forced to keep QEing for years.

Tue, 02/17/2015 - 12:37 | 5794241 NoIdea
NoIdea's picture

The bears have all been shot and turned into fireside rugs

Tue, 02/17/2015 - 12:48 | 5794277 yogibear
yogibear's picture

At least the die-hard ones.

QE4 will be coming this year. The Federal Reserve must keep doing QE.

QE until it can no longer be done without destroying the economy.

Larger and larger deficits, debt and ever more larger QEs.

The Fed is just delaying a long a torturous depression that will last for a while.

In the meantime bears are now bulls.

 

Tue, 02/17/2015 - 13:19 | 5794394 Mr. Bones
Mr. Bones's picture

How many bear pelts for one AAPL?

Tue, 02/17/2015 - 12:44 | 5794260 overmedicatedun...
overmedicatedundersexed's picture

this will come it must, not a black swan a single geek.

some geek in the fed or big bank will become disgusted with the corruption (and fact he does not get the big bonus money)or his girl friend drops him ..some life event makes him unstable (as in he does the right thing) adds some code or just pushes the buttons that have dust an inch deep on them..and selling hits the market..for history see all the rogue trader stories examples from hong kong to london as in mr leeson of HK fame.

Tue, 02/17/2015 - 12:57 | 5794312 Winston of Oceania
Winston of Oceania's picture

They always jump first, nobody sees anything, never any witnesses... The NSA likely reports to them first.

Tue, 02/17/2015 - 12:52 | 5794297 disgruntled hou...
disgruntled housewife's picture

I would think a measure of bearishness would be age. Markets go up steadily followed by a steep decent. If you have already climbed the stairs a few times with the markets only to get the elevator shaft ride down you might not want to deal with it anymore.

Tue, 02/17/2015 - 12:57 | 5794316 To Infinity And...
To Infinity And Beyond's picture

The chart should more aptly be named "Investors Intelligence Percent"

Tue, 02/17/2015 - 13:11 | 5794363 NoWayJose
NoWayJose's picture

It's like going into a casino -- where you know that the 'house' will always win.  Sure you can get a few bets won on your side, but if you play against the house long enough, they will take all of your money.

Tue, 02/17/2015 - 13:51 | 5794531 Seal
Seal's picture

liquidity tsunami perpetuates illusion of maximum pricing shifting risk curve ultimately lead to waterfall in price

Tue, 02/17/2015 - 14:09 | 5794605 Automatic Choke
Automatic Choke's picture

i tried saying "liquidity tsunami" three times in a row quickly, but i choked on my pastrami.

Tue, 02/17/2015 - 13:55 | 5794549 Hohum
Hohum's picture

I don't know if I am reading the chart correctly, but is it saying the majority of investors are ALWAYS bullish?  If so, that includes the depths of the Great Recession (funny).

Tue, 02/17/2015 - 13:57 | 5794560 badger10
badger10's picture

Oil is lower and the storms will be the cause of the GDP slide. Deflation is not a condition to be taken lightly. One has to ( cautious at these higher levels.

 

Tue, 02/17/2015 - 14:12 | 5794611 Loophole
Loophole's picture

I suspect the U.S. economy is "strong" like the dollar is strong: by comparison to the rest of the failing global economy only. Foreigners are investing here because it is a traditional safe haven, and they think it still is one. This makes it look good.

But it isn't.

Tue, 02/17/2015 - 14:54 | 5794738 fremannx
fremannx's picture

Super bearishness fortells imminent reversal. Clearly the herd believes the central banks are in charge. "Extreme opinions, shared widely, constitute the single most reliable indicator of an impending change of direction in the markets." The S&P 500 could lead the way...

 

http://www.globaldeflationnews.com/sp-500-indexelliott-wave-update-for-w...

 

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