-635; +430; -520 ; +423

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Thu, 08/11/2011 - 16:05 | 1551845 Id fight Gandhi
Id fight Gandhi's picture

Yeehaw

Thu, 08/11/2011 - 16:29 | 1551901 anynonmous
anynonmous's picture

not unlike the days of Oct 87

26-Oct-87    -8.0%
23-Oct-87    0.0%
22-Oct-87    -3.8%
21-Oct-87    10.1%
20-Oct-87    5.9%
19-Oct-87    -22.6%
16-Oct-87    -4.6%
15-Oct-87    -2.4%
14-Oct-87    -3.8%
13-Oct-87    1.5%
12-Oct-87    -0.4%
09-Oct-87    -1.4%
08-Oct-87    -1.4%
07-Oct-87    0.1%
06-Oct-87    -3.5%

Thu, 08/11/2011 - 16:28 | 1551994 navy62802
navy62802's picture

Also not unlike the month of October 2008 ... just remember that market bottomed out in March 09.

Thu, 08/11/2011 - 16:50 | 1552066 caerus
caerus's picture

history bitchez!

Thu, 08/11/2011 - 19:20 | 1552480 nmewn
nmewn's picture

Must remember stock market can remain ridiculous longer than one can remain solvent.

Must remember stock market can remain ridiculous longer than one can remain solvent.

Must remember stock market can remain ridiculous longer than one can remain solvent.

Thu, 08/11/2011 - 22:02 | 1552945 dark pools of soros
dark pools of soros's picture

get invited to the discount window and forget about being solvent

Thu, 08/11/2011 - 16:17 | 1551917 Taku
Taku's picture

Tech pros, what do your charts say for this ' pattern ' ? Thx

Thu, 08/11/2011 - 16:19 | 1551930 max2205
max2205's picture

HIKE!

Thu, 08/11/2011 - 16:38 | 1552026 rocker
rocker's picture

Matt Miller, (Bloomberg), argued with Ira Epstein that the market is cheap and he's a buyer at this level.

Ira told him he's wrong. Nothing has changed and we are in a BEAR market.  Hello...... Nobody's home in Matt's head. 

He also co-anchored a report saying how insiders are buying at record levels.  I emailed him and told him to read Barron's page M13.

I should have told him to read Zero Hedge, my bad.  When the market trades at a PE of 8 or 9 it will be worth a look to me.

We are not being paid for risk. Unless we add to PM's. 

On another note, Shorts not allowed in France. Hmmmm. Goldman Sachs upgrades ALL banks on the same day. Hmmmm.

Is it fair to say this is a short covering rally and the trading desk of GS made money today burning them.  

Thu, 08/11/2011 - 16:53 | 1552073 The Wolf
The Wolf's picture

nothing at home on top of Millers head either... that hairline is retreating faster than the hookers that prey upon traders...

I remember watching Bloomers and CNBS during the last level off in 08/09... any guest that started talking TOO much doom and gloom was blindsided by a free safety blitz and was cut off faster than Betty Liu could say sring a srong a sixpenth... 

Thu, 08/11/2011 - 20:16 | 1552621 FEDbuster
FEDbuster's picture

I've seen this up and down movement before, wild gyrations, huge swings, etc... ends badly:

 

http://www.youtube.com/watch?v=Az503VJ6kHw&feature=related

Thu, 08/11/2011 - 16:49 | 1552060 snowball777
snowball777's picture

False start. 5 yard penalty. Repeat 1st down.

Thu, 08/11/2011 - 16:27 | 1551973 tekhneek
tekhneek's picture

head and shoulders redux QE3 edition

Thu, 08/11/2011 - 17:22 | 1552179 slewie the pi-rat
slewie the pi-rat's picture

...for recurring market dandruff...

Thu, 08/11/2011 - 17:03 | 1552049 johngaltfla
johngaltfla's picture

TA won't matter tomorrow. If the HF redemptions are massive, every rally will be sold into, commodities liquidated, and the equity market will move within a +/- 200 point range. Just a guess at this point in time because fundamentals still play a role.

 

Thu, 08/11/2011 - 16:56 | 1552084 Greater Fool
Greater Fool's picture

Fourier series approximation of a step function. I'll leave it to you to guess which direction the step will be.

Thu, 08/11/2011 - 17:01 | 1552096 caerus
caerus's picture

lol

Thu, 08/11/2011 - 18:41 | 1552394 Johnny Yuma
Johnny Yuma's picture

Big bear flag, real big....

Fri, 08/12/2011 - 03:36 | 1553510 Don Keot
Don Keot's picture

Johnny Yuma was a rebel ........ and he roamed throughout the west.........

I rode a Harley and that was my license plate, shortened of course.  Good times, good old days.

Thu, 08/11/2011 - 18:49 | 1552416 Executioner
Executioner's picture

Taku,
I'm not a pro so I don't know for sure, but check these guys out .
They seldon update the public area, but when they do sometimes it's possible to catch up to date content for free. Like today, it seems they are calling a bottom for the french CAC index today.

Oh, BTW don't even bother registering, i've no idea why but it seems fucking impossible to get an account.

Thu, 08/11/2011 - 19:12 | 1552465 Raphio
Thu, 08/11/2011 - 21:05 | 1552777 Stares straight...
Stares straight ahead's picture

That means we're gonna have a TV party tonight.

Thu, 08/11/2011 - 16:30 | 1551988 jal
jal's picture

 

Robos are in charge and doing their job. 70% of trading is done by robos.

 

I'm sure that there are people reading this that recall the days when the market use to only trade within single digits then it went to double digits.

 

Now the robos can handle triple digits moves as a normal intra day movements.

 

Will we soon see triple digits as the "good old days"?

 

 

Who is that peon that is feeding the ROBO information?

 

That peon is making all the traders look like idiots.

 

jal

 


 

Thu, 08/11/2011 - 16:32 | 1551997 slaughterer
slaughterer's picture

Robo buying

Slaughterer buying

Buffet buying

Cramer buying

Say no more.  /sarc

Thu, 08/11/2011 - 17:02 | 1552101 Esso
Esso's picture

Don't forget, gold's going to zero and you can't eat it, unlike stock certificates which are high in fiber.

Fri, 08/12/2011 - 08:01 | 1553677 Kobe Beef
Kobe Beef's picture

hahaha Good one Esso!

Take delivery of your 401Ks in physical certificates.

It's better than Metamucil, Baby Boomers.

Now that's just mean. & funny too.

Thu, 08/11/2011 - 16:05 | 1551847 TheGoodDoctor
TheGoodDoctor's picture

So, how much down tomorrow? Everybody will be holding over the weekend right? He he!

Thu, 08/11/2011 - 16:09 | 1551872 Id fight Gandhi
Id fight Gandhi's picture

Each day gain is still met with a net loss down.

So 450-550ish down... If there be a pattern

Thu, 08/11/2011 - 16:25 | 1551963 tekhneek
tekhneek's picture

AND BINGO WAS HIS NAME-O

Thu, 08/11/2011 - 16:19 | 1551929 MolotovCockhead
MolotovCockhead's picture

Yeah right, good news usually come over the weekend! TPTB don't want the Sheeple to buy on panic and hence leads to a market bubble!

Thu, 08/11/2011 - 19:05 | 1552458 Buck Johnson
Buck Johnson's picture

It's going to be down tomorrow, it has to.  Because nobody and I mean nobody wants to go long with all the rumors running abour BAC, Societ General and other banks needing backstopping and maybe going into bankruptcy.  Remember Lehman Brothers CEO was on CNBC saying everything was fine and less than 24 hours it decided to file for bankruptcy and such.  They will say it's all good up to the last minute, that is why you will never see the CEO of Lehman Brothers ever going back on CNBC or any other news channel, he would have to explain the unexplainable.

Thu, 08/11/2011 - 16:06 | 1551848 caerus
caerus's picture

it's like watching the throes of a dying beast

Thu, 08/11/2011 - 16:25 | 1551959 Rodent Freikorps
Rodent Freikorps's picture

Maybe a freshly headless snake.

Thu, 08/11/2011 - 16:34 | 1552010 caerus
caerus's picture

or a spastic breakdancer

Fri, 08/12/2011 - 03:40 | 1553514 Don Keot
Don Keot's picture

Or a chicken with it's head cut off.   If you've never seen one, it's a site to behold.

Thu, 08/11/2011 - 16:49 | 1552064 Mongrel
Mongrel's picture

From the den of vipers known as the FED.

Thu, 08/11/2011 - 16:27 | 1551974 Sophist Economicus
Sophist Economicus's picture

It's "Stability you can believe in"

Thu, 08/11/2011 - 16:06 | 1551851 Cleanclog
Cleanclog's picture

Off their meds!   Oh no, I mean, totally medicated.

Thu, 08/11/2011 - 16:51 | 1552070 snowball777
snowball777's picture

Right dose. Wrong meds.

Thu, 08/11/2011 - 16:09 | 1551856 hedgeless_horseman
hedgeless_horseman's picture

That chart is going on a black t-shirt, but I better wait until tomorrow, because it might get even better.

Thu, 08/11/2011 - 16:17 | 1551919 SheepDog-One
SheepDog-One's picture

Is it a tougher or easier case for QE now with these wild market swings of 5%? I really dont know...but if they can make +500 point DOW days stick, wheres any panicked pleas from the peasantry to please take more of our money to make the bad man go away?

Thu, 08/11/2011 - 16:48 | 1551953 hedgeless_horseman
hedgeless_horseman's picture

The case for QE has little or nothing to do with propping up the equity markets, and everything to do with supporting the treasury auctions. 

Tyler's Russell 2000 Third Mandate for the Fed is merely a side effect of Dr. Bernanke's treatment for a sick American economy, and a secondary derivative of QE at best, but we can still trade it.

 

Thu, 08/11/2011 - 17:05 | 1552109 Elooie
Elooie's picture

This. Basically the Fed has to keep rates at Zero to allow the government to keep borrowing. Problem is These rates cant last forever. Think about what happens when 16 trillion in bonds have a 1% rate increase.. compared to 14 trillion bonds having a 1% rate increase. Really the Fed should raise rates and force the pain and force the government to stop borrowing.  It is only going to be worse once their is more debt to deal with.

Thu, 08/11/2011 - 16:21 | 1551939 steelhead23
steelhead23's picture

sikscreen em'  They'd sell.  Of course, you should price them accordingly, $20 on Monday, -5 or Tuesday, $50 on Wednesday, no sales on Thursdays, and Free for All on Friday.

Thu, 08/11/2011 - 16:23 | 1551951 caerus
caerus's picture

lol

Thu, 08/11/2011 - 16:05 | 1551858 Gooseone
Gooseone's picture

It's just some sort of ping-pong between these black boxes....for now

 

Thu, 08/11/2011 - 16:08 | 1551860 urbanelf
urbanelf's picture

Treasuries or equities!?!?!?!??!!  

FOR THE LOVE OF GOD, IF ONLY THERE WERE AN ALTERNATIVE!!!!!!!

Thu, 08/11/2011 - 16:10 | 1551873 youngman
youngman's picture

For the love of GOLD, if only there were an alternative:::::there fixed it

Thu, 08/11/2011 - 16:19 | 1551926 SheepDog-One
SheepDog-One's picture

Urbanelf use some of that money to buy a nice AR15, bunch of ammo, food and water purifier and youll be surprised by the calming effect it has making all this far less relevant.

Thu, 08/11/2011 - 16:22 | 1551948 Poetic injustice
Poetic injustice's picture

There is alternative, you can always buy BAC shares.

Do NOT follow this link or you will be banned from the site!