Art Cashin: "The New Battle Of Thermopylae Is On The Way"

Tyler Durden's picture

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Belarus's picture

man o man the HFT's hit are hitting the bids hard this morning.....

HelluvaEngineer's picture

You can pretty much count on a gap fill IMO.  The Momo monkeys pretty much have their marching orders this morning.  I can't believe how decoupled we have become from the European meltdown.  Will reality ever set in?

SheepDog-One's picture

8 days till D-Day...with Bernank's only apparent concern being refilling the gap downs, it will be a VERY interesting next week speech from the FOMC!

Ancona's picture

Hahahaha!

Molon Labe Bitchez!

snowball777's picture

Take what? The "collateral"?

barkingbill's picture

maybe, but i don't think just yet. 

Transitory Disinflation's picture

 

 

 

 

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DosZap's picture

Transitory,

Very well done, really!................

The way I feel every day I have to hear,see,read anything these traitors are doing.

Here's the only answer to our problems, and you ain't gonna like it.(I do not,but I see no choice if we are ever to get back o track )

http://www.marketwatch.com/story/massive-default-is-best-way-to-fix-the-economy-2011-09-12?pagenumber=2

LongBalls's picture

I'm not even going to try to trade this paper hurricane. Sometimes the best trade is not placing one at all. So I will just keep stackin'.

GeneMarchbanks's picture

'Key support levels are 1140, 1132, 1120 and ultimately 1101.'

See you @ 900 or so.

catladdy's picture

Goin ta need lots of margin to hang in on that one. my opinion 1200, then 1225 before 900, IF, 900 prints. We may be bldg compression  with a 125 spy pt trading range for a few weeks.

Not ultra bearish or bullish

Cdad's picture

Art says 1140...and ES reports there immediately.  Funny how that works.

It indicates a level of complete oblivion where valuing things is concerned.  The Street has no idea.  All they have left are their super computers and their collective lemming-like behavior.  How is that for an investment thesis?

Too bad the US government saved all these criminal bankers in 2008.  In the end, it does not matter, as the purple in the veins is now traveling away from the festering wound.

Thank you, Hank Paulson.

 

Cdad's picture

Puke bucket ETFs up...puking of individual, marked up equities begins.

Roach Motel [SPY] RSI hits infinity...goes for infinity x 2.

SheepDog-One's picture

LOL, DOW green after only 10 minutes open 'trading' from being down -250...'completely unhinged', anyone?

Who bought that pump, only to have it erased?

fuu's picture

Well NASDAQ went green.

EDIT: There went S&P.

 

JPM just had a .50 turn around.

LoneStarHog's picture
  1. And here comes the F**KING juvenile PPT, as if everyone and his mother don't know about their antics. Well, everyone except the PUMP MONKEYS on CNBS.
SheepDog-One's picture

Really makes ya wonder about Sept 21 huh? Why would the FED be doing all-out in yer face pumping drops?

snowball777's picture

Drops...or (currency) swaps?

TradingJoe's picture

My oh My, Algos are really sweating this morning, too bad for them it won't help, AT ALL! Once panic sets in ....well you know! We are pretty much THERE, a few days, give or take! No need to roll them options into Oct Exp :)))! When I look at the QQQ I start laughing LOUD! When taht one goes it will be with a BANG,  A BIG BANG that is! Very sad to see this much desperation within Wall Street, we were once envied now we are cursed!

SHORT Y'ALL!

SheepDog-One's picture

Bens last few days till next weeks FOMC faceplant! Hellhounds on Bens trail.

Yardfarmer's picture

They would become the new Bear Stearns and Lehman. That’s why the rescue effort quickly shifted from simply bailing out Greece and the others to buying the sovereign debt to put a floor under those bonds.

 

ever tried to walk on a floor made of paper? 

 

AnAnonymous's picture

ever tried to walk on a floor made of paper?

::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

A piece of cake for an advanced student of Sinanju.

Belarus's picture

stocks outperforming Gold and Silver today: yeah, sure, there isn't foul play. 

adr's picture

It is amazing how well the US markets have held up. It is so great to have a source of near unlimited free money and assurances that the government will backstop your bad bids.

It is like being given an American Express  Black card and being told that you can keep all your winnings at the blackjack tableand the losses will go on the card and you'll never have to worry about paying.

US stocks have already halved the losses  within 20 minutes. How people can doubt the PPT is beyond me.  No rational human being would purchase a stock to hold long rght now.

Mitzibitzi's picture

Funny you should say that. American Express just dropped 2%. ;-)

Mitzibitzi's picture

A lot of what's apparently being bought by 'actual buyers' seems to be in automotive parts (mainly big trucks), satcomms and power electronics. Wonder who wants all that stuff?

falak pema's picture

A Nuclear Berezina and Sarkozy's clout loses its bite in upcoming election year. Imagine campaigning in 2012 defending the return to the french franc! That would be clownishly hilarious for a man who is now wearing Tony Blair's shoes, as the US Oligarch's main supporter in EU. "i am a true globaliser. Witness my actions in MENA and Afgh, but I must now go back to being Asterisk and ask my friend Obelisk Merkel to hold the northern fort on her own." Pax romana will now be compared to Euro dictatorship imposed by bunga bunga bankruptcy, lol, we have come a full crazy circle. 

Who wants to buy my old car in french francs? Going cheap I'll sell it ONe franc to the Euro. That is a bargain... in devalued Euros. As we all know, once the Euro goes the french franc can only go up!

I am now totally greek in my thinking as my convoluted logic is like the drachma, a virtual reality, or conversely, the euro a real virtuality.

But something tells me that Frau Merkel has not said her last word, whatever the Club Med countries will end up becoming.

Léonard's picture

What the hell are you talking about ?

Since when will Greece's default mean the end of the Euro ?

The Euro value is based on industries, infrastructures and can be backed by the European gold reserves any time.

Greece's default will not end the Euro. It will make it stronger and challenge the dollar as the reserve currency.

falak pema's picture

You didn't read the last line in my comment...Tsst, the devil lies in the detail...amigo!

And...Asterisk is NOT Obelisk...to push the banker's comedy to logical conclusion. This is not a sovereign debt crisis its a private eurobank crisis. France may lose it uber alles triple A rating. 

To push it even further, Frau Merkel may move the Euro zone to two tier. If its possible, its the best long term structural and financially competitive solution for all. Flexibility indeed the key word...

JOYFUL's picture

Well Leo, since you insist on doubling up on your comments today(at least in theme if not EXACT verbiage, I shall feel free to do the same....

You're jokin us right, just like that million$bonus dude!?!?...

real industries...>wtf>....couple of pieces of tangible goods I acquired in the last year....{made}by respected German names...subsequent discovery of the small print on same shows that said items are "designed/and or quality inspected in" Germany....product of PRC....

about that gold thing....exactly where did you say that gold is held at this moment?!?!?

you must be jokin us....right!?!?

I see this time around you dropped the word 'real' from in front of 'industries': maybe you are coming around after all; but you still have not disclosed to us where all those "European gold reserves" are all parked at this moment - plus ça change, plus c’est la même chose,  n'est pas?

 

hahaha OK?

MFL8240's picture

Gold down $28 US confetti, anyone understand this bullshit anymore because I am lost.

LongBalls's picture

It's down in terms of USD. The USD is gaining strength. Today is a buy in gold. IMHO.

 

Gandalf6900's picture

excuse me, are US stox seriously turning green???

fuu's picture

It certainly looks that way.

Lord Welligton's picture

Oh dear.

Greek 1 Year now at 122%.

Who's writing this script?

 

 

 

 

Belarus's picture

NASDAQ green. Soon too, S + P and Dow. 

SheepDog-One's picture

'Rule 48' invoked, futures down well over 1% only to be presented with a miracle...all recovered and then some! I guess 'investors' BTFD! Yea sure.

Cdad's picture

It will be sold...the pink unicorn poop pop.  Just look at the VIX.  ES miracle met by the VIX with...meh.

Johnny Lawrence's picture

All of Europe down 2%+, and the NASDAQ is green and the S&P is down 0.7%.  Go figure.

SheepDog-One's picture

8 days Ben TIC TOC TIC TOC what are you gonna do now ass hat? 

You wont even let the markets open down, but youll present your case for $2 trillion free gift for stocks as LIESman was just chirping about?

I dont think so. THIS is QE3 youre seeing it right now!

Belarus's picture

This market wants you to just go long. When a 1% drop sets off national emerency bells and everything and anything must be done--whether covertly and illegal or overtly and illegal--to prop up the market at any cost....why not just put chips in the fucking ponzi on oil stocks, etc. 

I think it is clear, between the robots and the money players, LSAP is getting priced in. 

Robslob's picture

lol....too funny...the markets are clearly more important than the people...

Gandalf6900's picture

just a side note for us nimwits but whats PPT, is it some kind of HFT?

be getle!

Ancona's picture

Polish Poker Trick. It's like an ace up your sleeve, until it isn't.

Gandalf6900's picture

thanks, very nice of you

Ancona's picture

Sorry Gandalf, i couldn't resist. Sarcasm is like a disease sometimes, there's just nothing you can do to stop it. That's OK though, someone with more mercy in their heart stepped up to the plate.

FreeNewEnergy's picture

Come on. Give the newbie a break. Everybody has to start somewhere. Bing Plunge Protection Team (PPT) - and also Bing Working Group on Financial Markets

 

I don't Google any more. I Bing. Waaaaaaaayyy better.