• Knave Dave
    05/23/2016 - 18:16
    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

Biderman: "Everyone Is Now A Seller Of US Stocks"

Tyler Durden's picture




 

Focusing on his supply-demand perspective of what drives stock prices and the heavy volume of corporate selling combined with mutual fund outflows that we have been so vociferous about, Charles Biderman of TrimTabs provides color on why, just like in 2010 and 2011, markets sold off in May. Whether you believe it is explicitly the angst-inspiring European malaise, Facebook's flop, or US macro deterioration and a pending fiscal cliff - the real driver is more shares chasing less cash as he puts it and reflexively the news exaggerates it or stalls it. Stock prices are likely to keep dropping, no matter what, until the Fed announces the next stimulus/easing (as we all know) but unfortunately this will have no impact on the real economy (though stocks will pop). Biderman berates the Fed for its constant insistence that this time is different and as far as the election 'our policies will bring about sustainable recovery and jobs' promises we will hear from both candidates, he succinctly summarizes thus: "What Bullshit! Where we are now as a world is: it's ok for governments to lie for their own benefit".

One of his better rants that escalates more and more as the brief 4 minutes or so goes on...

and ends with a great question:

"Why are bankers, union bosses, and government officials not going to prison for committing fraud against all of us?"

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Thu, 05/31/2012 - 17:33 | 2481290 davinci7_gis
davinci7_gis's picture

Yep...he's right on the money!

Thu, 05/31/2012 - 17:38 | 2481323 MendozaErika
MendozaErika's picture

my friend's mother makes $82 every ho­ur on the computer. S­e­tu­p a fr­e­e ac­co­u­nt on http://2.gp/p7yP

Thu, 05/31/2012 - 17:49 | 2481373 DosZap
DosZap's picture

my friend's mother makes $82 every ho­ur on the computer. S­e­tu­p a fr­e­e ac­co­u­nt on http://2.gp/p7yP

Take this VIRUS ridden POS off here.

Thu, 05/31/2012 - 18:39 | 2481579 Winston Churchill
Winston Churchill's picture

Don't hold back.

Say what you really think.

Thu, 05/31/2012 - 20:39 | 2481897 WhiteNight123129
WhiteNight123129's picture

my friend's mother makes $82 every ho­ur BEHIND the computer's WEBCAM. S­e­tu­p a fr­e­e ac­co­u­nt FOR YOUR GIRLFRIEND on http://www.youporn.com

Fri, 06/01/2012 - 01:42 | 2482634 Ahmeexnal
Ahmeexnal's picture

can't be a seller.....if there are no buyers

Thu, 05/31/2012 - 17:49 | 2481376 GubbermintWorker
GubbermintWorker's picture

Spam should come in a can.

Thu, 05/31/2012 - 21:39 | 2482091 JeffB
JeffB's picture

and spammers should be sent to the can.

Thu, 05/31/2012 - 17:53 | 2481394 montana1978
montana1978's picture
Get out of the U.S. stock market, it's nothing more than an overglorified casino!

 

-John
Brand New (Non-Titled) 2013 Ford Mustang Shelby Cobra 2 Door Convertible
http://cgi.ebay.com/ebaymotors/?cmd=ViewItem&_trksid=p3984.m1555.l2649&item=190685701637&sspagename=STRK%3AMESELX%3AIT

Thu, 05/31/2012 - 20:53 | 2481943 PersonalRespons...
PersonalResponsibility's picture

lol Comic relief

Thu, 05/31/2012 - 18:21 | 2481520 smlbizman
smlbizman's picture

i lost a little for the biderman when he was excitied that he got facefuck at 30.00....

Thu, 05/31/2012 - 19:35 | 2481725 world_debt_slave
world_debt_slave's picture

I don't take the advice on talking heads, no one can know what the market is likely to do with as much manipulation going on.

Thu, 05/31/2012 - 18:39 | 2481532 Soul Train
Soul Train's picture

Business Week talks about cheap money. How is Bozo Ben's replacement going to get out of this hole??? Answer: Gold and silver. Heavy on silver. Listen up, buy PM now and go for the physical.

http://www.businessweek.com/articles/2012-05-31/yielding-to-panic

Extract from the article:

Marinate your mind in this for a minute: Long-term U.S. Treasury yields are essentially at a 220-year low, says Barry Ritholtz. Mind you, 1792 was when two dozen brokers met under a buttonwood tree in Lower Manhattan to shake hands on what would ultimately become the New York Stock Exchange. And when George Washington, while test-driving his second set of experimental dentures, cast the nation’s first presidential veto. And France first successfully used its guillotine. Those 220 years traversed at least three panics, two depressions, two world wars, multiple global economic crises, a Great Recession, and “Who Shot J.R.?”

All that history be damned; on Thursday the 10-year Treasury touched a record-low yield of 1.5309 percent. Thirty-year bonds, for their part, fell to a yield of 2.6 percent, which is just above the all-time low they set in the midst of the Panic of 2008. Apparently our times are so fraught with fear and the need to flee to safety that the Treasury market is pricing in historic amounts of misery. As the Wall Street Journal’s Dennis Berman tweeted, “Even in ancient Babylon (4%), Medieval Europe (6%), 1800s America (4%), no one was paying 1.6% for 10-year money.”

Why would anyone loan money to Uncle Sam for so long at so little?

Thu, 05/31/2012 - 19:20 | 2481692 theTribster
theTribster's picture

Many of the funds don't have a choice, they have to buy some.

Thu, 05/31/2012 - 17:33 | 2481291 NooooB
NooooB's picture

1st!

Thu, 05/31/2012 - 17:34 | 2481294 NooooB
NooooB's picture

Dammit!

 

Thu, 05/31/2012 - 17:51 | 2481381 GubbermintWorker
GubbermintWorker's picture

Close only counts in horseshoes and grenades.

Thu, 05/31/2012 - 21:24 | 2482039 spanish inquisition
spanish inquisition's picture

and pulling out in time

Thu, 05/31/2012 - 21:26 | 2482048 NooooB
Thu, 05/31/2012 - 17:54 | 2481400 GubbermintWorker
GubbermintWorker's picture

Aren't you glad you're not first with such a lame post? I mean...,"1st"? That's the best you can do? At least resort to the old standby of "Gold Bitchez!"

Thu, 05/31/2012 - 18:00 | 2481438 Hubbs
Hubbs's picture

relax, he's just trying to carry on the tradition we had years ago on Nouriel Roubini's blog before he shut it down.

Pete, CA

Average Jane

Where are you?

Thu, 05/31/2012 - 22:05 | 2482184 SPADOC4
SPADOC4's picture

Silver..........................BiTCHeZ

 

Das righ... I said, SILVER......BiTCHeZ

Thu, 05/31/2012 - 17:34 | 2481296 LawsofPhysics
LawsofPhysics's picture

"Why are bankers, union bosses, and government officials not going to prison for committing fraud against all of us"

The only question, that if dealt with, would fix anything.  History is not on our side.

Thu, 05/31/2012 - 17:49 | 2481371 q99x2
q99x2's picture

We have Alex Jones and Carnivora.

Thu, 05/31/2012 - 17:54 | 2481389 NewWorldOrange
NewWorldOrange's picture

History not on our side? There's really no historical precedent. We're a nation of very heavily armed citizens. And only one thing is going to "fix" things...

 

 

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……/ `—___________—- _____|]
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…..), —.(_(__) /
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Thu, 05/31/2012 - 19:09 | 2481667 slewie the pi-rat
slewie the pi-rat's picture

don't taZe me, bro!

Fri, 06/01/2012 - 00:41 | 2482553 Freddie
Freddie's picture

There is plenty of lamp posts and plenty of rope too.

Fri, 06/01/2012 - 01:46 | 2482636 Ahmeexnal
Ahmeexnal's picture

baseball bats

Thu, 05/31/2012 - 17:55 | 2481406 GubbermintWorker
GubbermintWorker's picture

History, and Eric Holder, is not on our side.

Thu, 05/31/2012 - 18:01 | 2481441 Paul Atreides
Paul Atreides's picture

450 MILLION rounds of hollow point ammunition agrees.

Thu, 05/31/2012 - 19:10 | 2481671 Matt
Matt's picture

LOL someone thinks fraud is not a problem. Or its a serial junker that just loves red arrows.

Thu, 05/31/2012 - 19:25 | 2481704 CHX
CHX's picture

Well, during the French revoution, some officials lost (figuratively and literally) their heads. 

Thu, 05/31/2012 - 17:34 | 2481299 Alien Harvest
Alien Harvest's picture

Many U.S. citizens believe that the Ostrich is the next step for Human evolution.

Thu, 05/31/2012 - 17:46 | 2481355 Pairadimes
Pairadimes's picture

Many US citizens are ostriches.

Thu, 05/31/2012 - 17:52 | 2481391 GubbermintWorker
GubbermintWorker's picture

Only is that hole has a TV with American Idol or Dancing with the Stars playing on it.

Thu, 05/31/2012 - 19:13 | 2481676 Matt
Matt's picture

Ostriches are a result of US Citizenism.

Thu, 05/31/2012 - 20:31 | 2481866 Rubbish
Rubbish's picture

Been there, am it.

Thu, 05/31/2012 - 17:37 | 2481308 CommunityStandard
CommunityStandard's picture

"Why are bankers, union bosses, and government officials not going to prison for committing fraud against all of us?"

Because the people with the power to press charges are all part of the same club.  Accountability won't happen until the people demand it, and the people won't demand it until the bread and circuses run out.

Thu, 05/31/2012 - 17:36 | 2481311 Stimulati
Stimulati's picture

Milton Friedman style QE is doing nothing but making bankers rich

Thu, 05/31/2012 - 18:08 | 2481359 FreeMktFisherMN
FreeMktFisherMN's picture

Chicago school and Austrian school are not the same. Friedman seemed to have had a libertarian streak, but still was fine with-staunchly in favor of, in some cases - government intervention/propping up failed entities. 

Chicago school is neoclassical economics which is basically Keynesian.

 

Moral hazard that comes about from perverting risk assessment and distorting proper valuations is not just some outdated whimsical, aw shucks kind of ideal; it has real consequences.

 

Laissez faire [leave (markets) alone], please. 

 

 

 

Thu, 05/31/2012 - 18:17 | 2481507 Stimulati
Stimulati's picture

That would be news to us Keynesians

Thu, 05/31/2012 - 18:54 | 2481630 FreeMktFisherMN
FreeMktFisherMN's picture

Good point. This is laissez faire headquarters.

 

I guess it's just out of habit, as far as assuming people are oblivious to the Austrian school.

Thu, 05/31/2012 - 21:38 | 2482073 Fred Hayek
Fred Hayek's picture

Oh please. There are NO actual Keynesians. None. Its membership is the null set. There was no one now claiming to be a Keynesian who was shouting from the rooftops circa 1998 that the U.S. had to not just sort of approach a balanced budget but run big surpluses and pay down debt so that when things went bad the government could do a ton of spending out of sync with the business cycle. That's what keynesian economics actually prescribes and there was no one advocating it. It's what makes abject fools like Paul Krugman even worse in that he thinks of himself as one but never ever prescribed the difficult, run a surplus part of the game. True keynesianism is like true communism, an idea that some people occasionally espouse but which is so unrealistic that no one ever tries to go all the way with it.

Thu, 05/31/2012 - 19:26 | 2481705 FreeMktFisherMN
FreeMktFisherMN's picture

Edit: Moral hazard is not an 'ideal.' I meant something like 'warning'.

Thu, 05/31/2012 - 17:42 | 2481343 moofph
moofph's picture

"Why are bankers, union bosses, and government officials not going to prison for committing fraud against all of us?"

...(sounds lke a Jeopardy question from the SHTF category)

answer: What is fascism in America, Alex.

 ...(or is it Bullshitism?)

Thu, 05/31/2012 - 17:47 | 2481360 Zola
Zola's picture

"Why are bankers, union bosses, and government officials not going to prison for committing fraud against all of us?"

 

Because the sheeps are imbeciles. Look at only a small minority voting for RP. They have made their bed, they will have to lie into it. Dont come whining later.

Thu, 05/31/2012 - 17:56 | 2481410 Hubbs
Hubbs's picture

it's Ron Paul or anyone else. doesn't matter who else.

Obama: He will tax and inflate your money and give to the non productive eaters

Mitt: His rich cronies will steal your money and keep it for themselves.

Either way, your money is gone. "give" it away to those who vote for a living or have it taken away by those who do nonproductive " God's Work"

the problem is, even if Ron Paul got the majority of votes, the elections would be rigged. As Stalin said, it doesn't matter how the people vote. It matters who counts the votes.

Thu, 05/31/2012 - 21:17 | 2482015 dougngen
dougngen's picture

I love RP but he could never win... alas the charisma of a goat. But he is doing what has to be done; an idea is more dangerous than any gun. He has planted the seeds of personal libertly and Austrian economics in the minds of those who can see the truth for what it really is.

And your right, he would be killed outright or the election rigged by Deibold et. al

Thu, 05/31/2012 - 17:48 | 2481365 pacu44
pacu44's picture

He does realize that he is one of the first to go to a re-education camp?

CB rocks, I worry for his safety.

Thu, 05/31/2012 - 17:48 | 2481367 Pairadimes
Pairadimes's picture

I sure hope we don't have to wake up one morning to learn that this fellow reportedly succumbed to carbon monoxide poisoning in his garaged car overnight.

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