Bob, At His Bearish Best, On "Fudge, Fantasy And Fiction" - "My Target For The S&P Remains 800/900"

Tyler Durden's picture

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DoChenRollingBearing's picture

Gold, bitchez!  And take the physical, don't buy it from your buddies at MF Global, Goldman Sachs, JPM, Interactive Brokers, etc.

Jon Corzine should be planty evidence enough that the system is rotten.  Rotten.

But, hey Corzine comes out OK.  $12,000,000 bonus.  What say you, OWS?

drivenZ's picture

"Jon Corzine should be planty evidence enough that the system is rotten.  Rotten."

you don't like it? don't put your $$ in MF Global. simple as that. 

wisefool's picture

Not as simple as that. You would also have to move out of new jersey and the USA based on his Eric Cartman authority he had in office.

And exactly where do you think this guy's next job is going to come from? K street. (He will be a lobbyist)

Hard1's picture

Bob has become way too optimistic. I think we may overshoot to 500 in S&P.

Lucius Cornelius Sulla's picture

There is no doubt in my mind the we are primed for a credit crunch death spiral. 

rocker's picture

 In the long term a bounce off of 800/900 would be nice on our way to a double bottom 666 again.

 Just sayin.

DoChenRollingBearing's picture

+ 1

You are right.  I don't like it.  And I am happy that none of my money went to Corzine.

The system is still rotten.  It is hard to find ANYWHERE honest to put your money.  Or get income, they really seem to HATE savers and investors nowadays.

drivenZ's picture

well, I can agree on rates, blame that on the politicians and the fed. More likely the politicians. People here are always quick to blame "the fed" for everything, blame wallstreet for everything, blame china for everything. Granted, Washington gets alot of blame but not enough. They're hired to get shit done...

As a is now 6 months since the May 11' debt ceiling fiasco. We had a repeat in August 11', and now we're about to have a repeat in November when the supercomittee through their own fault or not, gets nothing done. A complete and utter failure, as usual.     

DoChenRollingBearing's picture

+ 1 again

LOTS of blame to go around.  LOTS more problems loom ahead.

wisefool's picture

Agreed. But then on the sunday talk shows you'll have all the pundits saying "The founding fathers wanted a system that was gridlocked to prevent radical changes"

The problem is (we bash finaincial talking heads) the politcal talking heads have total lack of mental facility when they dissassociate the fact that the "founding fathers" government was less than .1% of GDP. Today it is over 20% of GDP and they accomplish "nothing by design so it is okay when they fail."

Some ZH poster was a genious when he posted re Soylindra

"If you give me $500 Million of tax payer money I also can make some amazing crap that nobody wants to buy"

juangrande's picture

 "They're hired to get shit done"....and those who hired them get their shit done! what's the problem, really?

Lucius Cornelius Sulla's picture

"They're hired to get shit done..."

And that pretty much sums up the root cause of our predicament.

vast-dom's picture

As in my post of earlier today, I couldn't agree more re: SP 800-900 as I wrote, "SP 850".


My calcs point to something much worse than 2008-09 in terms of low bottom. But my timeframe for this was late August/early September, and now we are essentially in November. So I'm off by a couple of months, or so it appears.....

Gubbmint Cheese's picture

Love Bobby J - thx Tyler

pendragon's picture

yes just don't mention his all in call on the s&p at the end of july....

Gubbmint Cheese's picture

sees 20-40 point drop in S&P

August sees 1350 to 1370

10 year UST at 3.40%

downside 1250-1220

1440 extreme upside

potential for 1.50% GDP..


that call?

given the accuracy of his other calls over the years, I'm inclined to cut the guy a little slack. How have your calls done since say 2007?

pavman's picture

Dow 30,000 Bitchez (hyper-inflation tends to do that).

Cdad's picture

News Flash...BlowHorn [CNBC]...some a**hole....

"Pressure on the Euro dollar is good because it puts policy makers in a position to make good on empty promises."  [paraphrased]

Good about straws being grasped at...

pendragon's picture

these kind of calls are a bit of a waste of space as FED monkeys just raise the strikes on the S&P puts they're writing on any downleg

LawsofPhysics's picture

Technically correct, until the printing resumes in earnest.  Hedge accordingly.

TradingJoe's picture

Hmh, logic says indeed so but....(damn there seems to always be a BUT somewhere), year end rally still is a MUST for all the parasites to make their year or else...!?

I am guesstimating that some type of sell off, say 2-5% should be in order but then, it may well be off to the races, or NOT!! I tend to go with long short term and short long(er) term!

"BUT" then again, election year, pumping and printing will be the norm, or not?!

There is really only one thing here, pick a side and stick to it or stay out of IT!

Boilermaker's picture

REITS and IYR are actually positive today...after running up massively over the last two weeks....

You've got to be shitting me.

Raskolnikoff's picture

Why doesn't barry take all that commercial RE the gov owns through the fed and convert all that space to condos to house his main voter base is beyond me....I just came back after living in China for a year and saw first hand the many high rise developments just built and that are being built and are for the most part empty...why doesn't the communist gov just write off all that bad debt and open those cities up to all those malcontents? Surely these guys are  capable of hiding these huge paper losses?

semperfi's picture

Ain't gonna happen. Plunge Protection Team will keep the party going until they can't, and the time that they can't is still a looong way off.  Just inject more magic juice from the ePrintingPre$$ and keep partyin' dude!  Party on.

devo's picture

Today's strong dollar is just an excuse to print. It's very sick. It makes me sick. OWS needs to become financially informed and put pressure on Bernanke to turn off the printing press. It's clearly a scam to mislead uninformed Americans and get the bank puppet, Obama, reelected.

The Axe's picture

Tom Lynch  JPM    just on Bloomberg 1475  by year end....BAC to double in

firstdivision's picture

Have no fear, for the PPT is here.  That is the only thing that is holding the markets together today. 

CPL's picture

The PPT needs the bond money/IOU's (which has dried up for today) to push into the markets.


Right now...everything is locked down, nobody is moving, even the HFT's are missing their timing because the retail investors are on an indefinate hiatus, or have been for a couple of months.


Besides his 800 call is optimistic in a universe where the valueless has value and anything physically available is cheap as human life.  Nobody in their right mind would touch any of what is offered right now unless they wanted a severe fiscal beating.  Personally I think we will swoop under the 600 mark just like last time.


Sadomasichism aside.  I'm pretty sure we'll see the PPT wake up again at 3:30 when they buy 1 share each from the Unfortune 500 in the usual overbid/overprice strategy they've been fucking around with so far.  Seriously, I'm looking at dog shit companies that shouldn't be even listed on the open market acting as if they are pure gold nuggets with the European flim-flam going on.

RobotTrader's picture

Yep, REITS and retail stocks unfazed again.

Even chip stocks like XLNX still on an uninterrupted meltup.

HelluvaEngineer's picture

How's your CMG "call" from earlier doing?

Boilermaker's picture

I love how this douche bag scans for shit to post based on others comments.

What a f'ing tool.

CapitalistRock's picture

Fed cant print with Dow above 12,000. Blatant money printing for the benefit of wall st. will create a popular uprising against the fed. They simply will not go there.

devo's picture

Probably, but the Dow will likely drop below 12,000. I don't see how a positive European resolution isn't already priced in given that the market went up 1400 points in about a week.

reload's picture

Dont get me wrong - I do not condone what is coming in any way - but the writing is on the wall - an unbridled orgy of printing.

The UK is pushing the EU to get started NOW, while Cameron and his banker friends dream up new ways to crank up the BOE efforts. The Sunday Times (Murdoch rag) reported yesterday that the BOE is being primed to monetise the shortfall in public sector pensions - to get this into perspective the National Health Service (huge employer) alone has a shortfall of over $1.5 trillion.

Another plan for the UK is to start a `sovereign wealth fund`. I always thought this was the investment of surplus that prudent governance allows. In the UK case the plan is to borrow the money (issue Gilts and monetise) then spend the money on `infrastructure`. Ok bridges to nowhere etc. Unbelievable how they can describe more debt as wealth, but they are.

The bottom line is that our masters ARE scared of the mess they have got into, they have 2 stark choices. Let the chips fall and say goodbue to power and all its adictive trappings - or print and hope that `this time it will be ok`. I am sure they will print and then go on another drunken spree of malinvestment.

Once the Euro press starts churning at warp speed, Ben will be able to follow suit in the interests of combatting a strong dollar. It will not matter at all where the Dow is at that point, the unemployment numbers will demand it.

We may get a tradable sell off before the ink flies in earnest, but the printing needs to start pronto if the squabbling in Euroland is to be stopped from getting very ugly. The priorities of our rulers are, stay in power and keep their dream of a european super state alave - in fact speed up its creation. Make it less democratic as soon as possible. They will not be able to resist a very big print run, and another and another.

NuYawkFrankie's picture

Re: Bob, At His Bearish Best

Given the circumstances, a target of even 700 on SP500 -far from being bearish - strikes me as overly optimistic.

Am I missing sumthin? tia


catch edge ghost's picture

Wow. more hater spam. This math and reality stuff isn't fooling anybody. The S&P is about at its low for the day right now.  I'm going to make a sandwich and cause it to shoot up. Back in a bit.

gatorengineer's picture

Ben and the magic printing press Wednesday.... Shorts keep your stops tight......  here it comes straight to 1350.......

Jim in MN's picture

In two years here at ZH, my most consistent message has been Dow:Gold 1:1 @ 5,000.  For stocks to be the same in the year 2020 as in the year 2000 makes good sense.  That is what a lost decade on steroids is all about.  Then we might get a good run if we take the opportunity to clean out the corruption and rein in excessive debt and nonproductive bullshit in the USA. 

Using Bob's chart, if gold meanders higher from $5,000 and the Dow hits the trendline at say 60:1 in 2025-2030...well why the hell not?  To the moon!  But not yet. 

Not ever if we stay fat n lazy, AKA in slave mode.

JR's picture

Federal Spending per Household Is Skyrocketing | The Heritage Foundation

…The federal government is spending more on a per-household basis than ever before. Since 1965, spending per household has grown by nearly 162 percent, from $11,431 in 1965 to $29,401 in 2010. From 2010 to 2021, it is projected to rise to $35,773, a 22 percent increase.

…U.S. Census and White House Office of Management and Budget charts show that while median household income grew 27% from 1970 to 2009 - $39,732 to $50,255 -  total Federal spending grew ten times faster, or 299% - from $890 billion in 1970 to $3,551 billion in 2009.

…Federal spending is outpacing inflation. Prices of goods and services normally rise year to year, but federal spending has risen even faster. Although spending grew substantially after 9/11, less than half of the increase can be attributed to defense and homeland security spending.

The U.S already borrows 42 cents of every dollar spent;  food prices are up 34% in the last year, according to The Economist.

ivars's picture

All my prediction charts are now in one place without unnecesary text:

Please visit!

Imminent Collapse's picture

Gosh, this is interesting, but it appears that a chasm is approaching.  Step on the gas and let's jump the canyon.  Fuck gravity.