• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Another Late Session Ramp Up - Here Is The Latest Deus Ex

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Thu, 10/20/2011 - 07:13 | 1791838 gojam
gojam's picture

We have seen the full Greek pantheon of Deus Ex Machina.

Thank Gods for polytheism!

Thu, 10/20/2011 - 07:16 | 1791841 HD
HD's picture

When will this finally implode? How long can they drag this out - and really whats the point in doing so? Everyone knows the end game - except CNBC...

Thu, 10/20/2011 - 07:15 | 1791842 Fips_OnTheSpot
Fips_OnTheSpot's picture

Sixth payment will be delayed, since IMF want to wait for "results" from EU-Summit this weekend.

 

 

Results - hahahah!

Thu, 10/20/2011 - 07:16 | 1791845 Ham of Love
Ham of Love's picture

And soon the Spartan warriors start crossing the border

Thu, 10/20/2011 - 07:16 | 1791846 Ol Man
Ol Man's picture

"...after all such a payment is merely passthru funding which Greece hardly sees one sent of..."

 

Maybe  "cent"....

 

;)

Thu, 10/20/2011 - 07:17 | 1791848 Boilermaker
Boilermaker's picture

I love relentless fraud with my morning coffee.

 

Thu, 10/20/2011 - 07:23 | 1791863 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

...a false flag op is desperately needed...where's a patsy building 7 when you need it?

Thu, 10/20/2011 - 07:24 | 1791869 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

...WE ARE SPARTANS!! (spartan, morelike)

Thu, 10/20/2011 - 07:28 | 1791877 broke433
broke433's picture

Who cares Gaddafhi is captured...

Thu, 10/20/2011 - 07:30 | 1791881 Scalaris
Scalaris's picture

 

Debt collapse > Social unrest > Politicians arguing 

If AD/DC's - Skies On Fire is playing in the background while rolling footage of the above images once would have quite the documentary.

Thu, 10/20/2011 - 07:35 | 1791903 reload
reload's picture

Lots more earnings today - the fund management community still think corporate earnings are solid, even though some of the smart money is not bullish medium term, they see the bigger risk as not being `in` the market in case earnings are good (i.e they are already discounted as good) and in case a miracle gets pulled out of the hat by the troika.

Dr Copper aint buying it though - further weakness in the European session. FTSE has been thin and jumpy - just following the EURO/$.

Its hard work being short!

The `banks to recapitalise themselves without EFSF` story was a help - but shortlived. I think that the word on that was already out. I know Lloyds and RBS have been making enquiries on the street.   

Thu, 10/20/2011 - 07:38 | 1791914 RoadKill
RoadKill's picture

I'm am geting this "." close to throwing in the towel on this whole thing.

Im not a perma bear.  I wasn't in the market at 1,350 because I knew the US debt ceiling debate was going to be a disater.  Since, Ive been making $$ (alot actually) buying at 1,100 and selling at 1,200.  The reason for that range is that while I didn't see a double dip recession on the horizion (eg SPX EPS of $75 x 12) I also didn't see GDP growth being more then 1%-2%, so I thought $95 x 12-13 was about fair.

But that was precedented on Greece being allowed to fail, hiarcut by 50% and France and Germany recap their banks!  Looks like thats not going to happen.  So now - Europe in Recession, China slowing, US about to have another disaster via super committee.  I'm about 30% net short via SMDD (@ 22) and FAZ (@ 50) after being 100% long at SPX 1090.  Maybe time to get more short if we are going up today on this BS.

Thu, 10/20/2011 - 07:43 | 1791931 broke433
broke433's picture

Everybody and their mamas are short...

Thu, 10/20/2011 - 07:46 | 1791948 BetTheHouse
BetTheHouse's picture

Are you calling my mama short? 

Thu, 10/20/2011 - 09:16 | 1792380 Bicycle Repairman
Bicycle Repairman's picture

Yo Mama's so short, you can see her feet on her driver's license.

Thu, 10/20/2011 - 07:45 | 1791942 firstdivision
firstdivision's picture

The news out of Europe feels like an alternating harmonic series.  Eventually it'll converge some day.

Thu, 10/20/2011 - 07:45 | 1791944 broke433
broke433's picture

I would rather short gold than the ES, way more downside

Thu, 10/20/2011 - 07:49 | 1791959 jbc77
jbc77's picture

The farse continues, no surprise there. Greece shut down, in flames, how does "the market" ramp on shit like this??? Another shitty claims number I suspect today, maybe that will gas the markets even higher. How anyone can trade these shitty markets is beyond me, got a better chance at the casino at least there you know where you stand.

Thu, 10/20/2011 - 07:56 | 1791984 oogs66
oogs66's picture

so the ecb buys old spanish bonds so those investors can reload at the auction and all is good - no direct ecb participation in an auction - fraud!

Thu, 10/20/2011 - 08:00 | 1792001 Tense INDIAN
Tense INDIAN's picture

does it really have to be a ramp up everytime ...it could be normal market behaviour ....up and down in waves

Thu, 10/20/2011 - 08:31 | 1792163 dvsteenk
dvsteenk's picture

they keep it afloat at least until derivatives expire maximum in the money

u are right about the ramping, the shape of the up and down movements is not wavy at all, sawtooths and sticksaves is all u get in this fake market

Thu, 10/20/2011 - 08:03 | 1792019 dcb
dcb's picture

ok, when are you guys going to just chart the speed lines. also how many days do we finish at the bottom and have higher futures, rather often

Thu, 10/20/2011 - 09:05 | 1792314 Schmuck Raker
Schmuck Raker's picture

Tyler, this doesn't look right.

" 10-yr yield +2bps to 3.22% vs 3.20% earlier this morning; hit 3.28% yesterday, highest since Aug. 8. 2-yr yield +3bps to 1.38% from 1.29% earlier today. "

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