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Bad News Is Bad News Again

Submitted by Tyler Durden on 09/20/2012 09:52 -0400

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 | 2814742 Tense INDIAN

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

Thu, 09/20/2012 - 10:01 | 2814782 greyghost

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 | 2814797 JPM Hater001

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 | 2814843 greyghost

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 | 2814830 Hohum

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 | 2814867 doubledutch

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

Thu, 09/20/2012 - 10:25 | 2814879 Hohum

doubledutch,

Please give me some of what you're smoking.

Thu, 09/20/2012 - 10:49 | 2814962 aint no fortuna...

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 | 2814743 JPM Hater001

Sniff sniff- I smell 13000.

Thu, 09/20/2012 - 09:55 | 2814745 disabledvet

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

Thu, 09/20/2012 - 09:56 | 2814747 Shizzmoney

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

Thu, 09/20/2012 - 09:57 | 2814762 krispkritter

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

Thu, 09/20/2012 - 10:07 | 2814806 Legolas

It does now .

Thu, 09/20/2012 - 09:56 | 2814749 Nussi34

Bomb the PIIGS!

Thu, 09/20/2012 - 09:56 | 2814752 Catullus

It's stick save season

Thu, 09/20/2012 - 09:56 | 2814753 malikai

PPT to battle stations STAT.

Thu, 09/20/2012 - 09:57 | 2814758 Doublescythe

Long $AAPL. BTFD!!!!!

Thu, 09/20/2012 - 10:00 | 2814764 Dr. Engali

<------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 | 2814778 malikai

Not fair! I can't chose both.

Thu, 09/20/2012 - 12:49 | 2815360 JuliaS

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

Problem solved.

Thu, 09/20/2012 - 10:10 | 2814819 goldinpenguin

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

Thu, 09/20/2012 - 10:10 | 2814820 GeezerGeek

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 | 2814965 fuu

http://diydrones.com/

Thu, 09/20/2012 - 11:54 | 2815156 Overfed

http://ardrone.parrot.com/parrot-ar-drone/usa/

Thu, 09/20/2012 - 10:10 | 2814821 LULZBank

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 | 2814859 Everybodys All ...

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

Thu, 09/20/2012 - 10:46 | 2814957 LULZBank

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

Thu, 09/20/2012 - 10:33 | 2814903 Scalaris

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 | 2815176 LMAOLORI

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

Thu, 09/20/2012 - 09:59 | 2814768 PaperBear

And the cartel bashing gold/silver.

Thu, 09/20/2012 - 09:59 | 2814775 yogibear

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 | 2814779 Threeggg

It's called the Quadwitching rinse cycle !

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

Thu, 09/20/2012 - 10:01 | 2814781 LULZBank

Finally...

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

Thu, 09/20/2012 - 10:03 | 2814790 GolfHatesMe

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 | 2814801 Vincent Vega

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 | 2814818 Count de Money

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

Thu, 09/20/2012 - 10:14 | 2814834 MillionDollarBogus_

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 | 2815385 WhiteNight123129

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 | 2814835 Quinvarius

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 | 2814845 toady

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 | 2814846 FuzzyDunlop21

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

Thu, 09/20/2012 - 10:17 | 2814847 Temporalist

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

Thu, 09/20/2012 - 10:19 | 2814850 john_connor

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

Thu, 09/20/2012 - 11:57 | 2815163 LMAOLORI

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 | 2814902 indio007

QEternity for Men^TM

"Because hard money smells funny."

Thu, 09/20/2012 - 10:36 | 2814917 Lost Wages

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 | 2815006 PivotalTrades

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 | 2815167 Jeremy Roenick

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.

Bad News Is Bad News Again

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