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Bad News Is Bad News Again

Tyler Durden's picture





 

We explained last week why the initial exuberance from QEternity was likely to fade since it basically removed all suspense from futures FOMC announcements - i.e. that bad news would once again become bad news as opposed to bad news stoking the hopes or more-er QE. Well this morning's bad news - to wit: China PMI, Europe PMI, and US initial claims - has indeed had a detrimental impact on S&P futures as they approach fresh post-FOMC lows.

 

S&P 500 futures face quite a cliff here...

 

Charts: Bloomberg

 


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Thu, 09/20/2012 - 09:55 | Link to Comment Tense INDIAN
Tense INDIAN's picture

Thanks ...I can enjoy my shorts for the next 2 weeks

Thu, 09/20/2012 - 10:01 | Link to Comment greyghost
greyghost's picture

oil under $92.....how long before the peak oilers return and tell us this isn't about manipulation of price, but a fifty year old story about running out of oil? don't talk that book...don't talk that book

Thu, 09/20/2012 - 10:03 | Link to Comment JPM Hater001
JPM Hater001's picture

I think I can speak for most everyone

WTF are you talking about?

Can you at least make an effort to keep it Germain?

Thu, 09/20/2012 - 10:17 | Link to Comment greyghost
greyghost's picture

wtf are you talking about????? please fell free to follow "all" the non germain topics below!!!!!! kiss off clown

Thu, 09/20/2012 - 10:12 | Link to Comment Hohum
Hohum's picture

greyghost,

Am I to assume that you think world oil production will rise indefinitely?  Do you think the net energy from oil extraction is getting better?

Thu, 09/20/2012 - 10:23 | Link to Comment doubledutch
doubledutch's picture

Indeed unlimited,because crude isn't fossill and peak oil with the related CO2 story a hoax.

Thu, 09/20/2012 - 10:25 | Link to Comment Hohum
Hohum's picture

doubledutch,

Please give me some of what you're smoking.

Thu, 09/20/2012 - 10:49 | Link to Comment aint no fortuna...
aint no fortunate son's picture

I think you meant you can enjoy your shorts for the next 2 HOURS - heeeeeerrrrre comes swifty, right on schedule..............

you forget, you're shorting the coldest, most bloodthirsty and desperate cretins in the history of "finance"

Thu, 09/20/2012 - 09:55 | Link to Comment JPM Hater001
JPM Hater001's picture

Sniff sniff- I smell 13000.

 

Thu, 09/20/2012 - 09:55 | Link to Comment disabledvet
disabledvet's picture

For WHOM you idiots?????!!!!

Thu, 09/20/2012 - 09:56 | Link to Comment Shizzmoney
Shizzmoney's picture

Please just crash.  I don't have the patience to deal with this shit for another 4 years.

Thu, 09/20/2012 - 09:57 | Link to Comment krispkritter
krispkritter's picture

Yeah, I wish QE stood for 'Quick Ending'...

Thu, 09/20/2012 - 10:07 | Link to Comment Legolas
Legolas's picture

It does now .

Thu, 09/20/2012 - 09:56 | Link to Comment Nussi34
Nussi34's picture

Bomb the PIIGS!

Thu, 09/20/2012 - 09:56 | Link to Comment Catullus
Catullus's picture

It's stick save season

Thu, 09/20/2012 - 09:56 | Link to Comment malikai
malikai's picture

PPT to battle stations STAT.

Thu, 09/20/2012 - 09:57 | Link to Comment Doublescythe
Doublescythe's picture

Long $AAPL. BTFD!!!!!

Thu, 09/20/2012 - 10:00 | Link to Comment Dr. Engali
Dr. Engali's picture

              <------Send in the drones

              <------go golfing.

 

The U.S embassy in Pakistan is under siege. It's nice to see we are loved throught the world. Obama will....

 

 

Thu, 09/20/2012 - 10:00 | Link to Comment malikai
malikai's picture

Not fair! I can't chose both.

Thu, 09/20/2012 - 12:49 | Link to Comment JuliaS
JuliaS's picture

<------Send in the drones and go golfing.

<------Send in the drones and go golfing.

Problem solved.

Thu, 09/20/2012 - 10:10 | Link to Comment goldinpenguin
goldinpenguin's picture

Time to give them a good droning, teach them some manners.

Thu, 09/20/2012 - 10:10 | Link to Comment GeezerGeek
GeezerGeek's picture

I wanted to get my own drone (http://www.nitroplanes.com/projet-drone-2500mm-kit.html) but they were all sold out.

Thu, 09/20/2012 - 10:49 | Link to Comment fuu
Thu, 09/20/2012 - 10:10 | Link to Comment LULZBank
LULZBank's picture

US embassy in Pakistan is CIA Central. Theres another one, in Peshawar, right in the heart of the shit storm.

For those who didnt know, a CIA safe house was also on the same road as Osama's alleged compound, along with Pakistan military academy.

Thu, 09/20/2012 - 10:20 | Link to Comment Everybodys All ...
Everybodys All American's picture

... and Al-qada safe house is the rest of Pakistan .

Thu, 09/20/2012 - 10:46 | Link to Comment LULZBank
LULZBank's picture

So they can spread peace and democracy to places like Libya and Syria...

Thu, 09/20/2012 - 10:33 | Link to Comment Scalaris
Scalaris's picture

 

 

Will any embassy damages be paid by the Direct Overt U.S. Aid Appropriations and Military Reimbursements to Pakistan fund?

Which is ironic, because this paper says that U.S Taxpayers have been funding Pakistani corruption.

 

DroneGolfer 2000™  - Coming this Christmas in stores Nationwide

Thu, 09/20/2012 - 12:01 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

Noooo say it isn't true that's obama's Good War (sarc)

Thu, 09/20/2012 - 09:59 | Link to Comment PaperBear
PaperBear's picture

And the cartel bashing gold/silver.

Thu, 09/20/2012 - 09:59 | Link to Comment yogibear
yogibear's picture

Yawn, the FOMC already threw all their cards on the table. No more surprises.

The FOMC can talk about Jackson Hole and their golf games.

Thu, 09/20/2012 - 10:01 | Link to Comment Threeggg
Threeggg's picture

It's called the Quadwitching rinse cycle !

and then Wash, rinse & repeat.........then......

Thu, 09/20/2012 - 10:01 | Link to Comment LULZBank
LULZBank's picture

Finally...

S&P going down on this news? I was wrong...

Thu, 09/20/2012 - 10:03 | Link to Comment GolfHatesMe
GolfHatesMe's picture

I certainly would like Sept 20th to be the day I can stop banging my head on the keyboard.

Thu, 09/20/2012 - 10:04 | Link to Comment Vincent Vega
Vincent Vega's picture

Bad bad news is now bad news again or is it bad good news is bad news again or is it good bad news is bad news again? Fuck it...drunk again tonight.

Thu, 09/20/2012 - 10:10 | Link to Comment Count de Money
Count de Money's picture

Diageo (DEO) is bucking the trend and is up today. So there's your answer: Go get drunk!

Thu, 09/20/2012 - 10:14 | Link to Comment MillionDollarBogus_
MillionDollarBogus_'s picture

Off topic - was looking at an old ZH post and found this;

Thu, 12/09/2010 - 11:08 | jimgcpa

Gold mania will pop in the first quarter of 2011.  All you idiots who can't get enough at $1400 will be puking it up for $1175 very shortly.

 Right........

Thu, 09/20/2012 - 12:56 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Gold mania will have a correction when Corporations are scared about Gold mania. Circular but I believe it will be true. Gold mania ==> scares corporations and rich into dishoarding their ~dollars~ (help with yield curve manipulation by the Fed) and get them into spending or into capex despite low rerturn==> increase circulation and nominal wages ==> removes the incentives to print ==> sharp knee-jerk sell-off in Gold. ==>Ben has stopped printing because inflation rain is coming on dry land, people realize that inflation is forcing even more dishoarding which is feeding more inflation so people buy back Gold to ~protect against inflation~ ( whatever BS,it is true because it is true, circular as well), gets into parabolic upward move while GDP is printing 4% and inflation at 5% sell because not threat of Gov bond collapse or deflationary turning into hyperinflation. 

 

 

Thu, 09/20/2012 - 10:14 | Link to Comment Quinvarius
Quinvarius's picture

Looks like the shorts are back for another beating.  Mr. Bad News...Mr B...He's biting me!

http://www.youtube.com/watch?v=0iRTB-FTMdk

Thu, 09/20/2012 - 10:17 | Link to Comment toady
toady's picture

Interesting ...

Now that the fed has shot its wad, where do the next funds to price-in come from?

The political pimps better find a new john for the financial whores quick!

Thu, 09/20/2012 - 10:17 | Link to Comment FuzzyDunlop21
FuzzyDunlop21's picture

Markets are acting kind of sane....BLACK SWAN

Thu, 09/20/2012 - 10:17 | Link to Comment Temporalist
Temporalist's picture

Looks like the effects of the enemas from the QEouches are losing their duration and potency.

Thu, 09/20/2012 - 10:19 | Link to Comment john_connor
john_connor's picture

what about decreasing IOER?  The suspense is killing me and I await with baited breath!

Thu, 09/20/2012 - 11:57 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

Stop paying the Banks Billions a year not to lend what are ya kidding me

 

Federal Reserve policies favor the rich

 

 

 

Thu, 09/20/2012 - 10:32 | Link to Comment indio007
indio007's picture

QEternity for MenTM

"Because hard money smells funny."

Thu, 09/20/2012 - 10:36 | Link to Comment Lost Wages
Lost Wages's picture

LOL. Bonds in the 401K. Silver at the bottom of the lake. To think Bloomberg almost brainwashed me into buying stocks last week. Glad I sat on my hands and didn't fall for the MOPE. What almost pushed me over the edge was Marc Faber saying equities were better for inflation.

Thu, 09/20/2012 - 11:03 | Link to Comment PivotalTrades
PivotalTrades's picture

 

We are Opening Our ES vs CL Compression Trade once again:

Short December ES 1450 and Long December CL $92.50

 

Thu, 09/20/2012 - 12:00 | Link to Comment Jeremy Roenick
Jeremy Roenick's picture

So the new shelf life for QExuberance is about a week or less....  OK, got it!

 

At this rate, will need weekly reminders of QEternity to keep the market moving sideways.

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