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Buy The Rumor, Sell The News
Via Peter Tchir of TF Market Advisors
Europe is playing havoc with this old trading strategy. By only having rumors and never having news they keep the markets in permanent buy the rumor mode.
The china story is at best old news. Italy's austerity credibility is sorely lacking, but the best news is the Merkozy wants to meet the bankers. It feels like aliens landing on a planet and saying take me to your leaders. Do they think the IIF is the government for banks? That they represent banks and can tell banks what to do? I have to admit I had never heard much about the IIF until this summer. Which bank CEO's will be at this meeting?
Still no confirmation that the bigger and leveraged EFSF is AAA - because if they follow their own standard guidelines, it isn't.
Is it just me or is the EFSF going to lend to banks now too? Is that to improve the diversity score or to run out of money faster?
June 2012 seems a long way off in terms of raising bank capital. Bear to Lehman was only 6 months. Wasn't it earlier this year people were complaining about additional Basel capital requirements in 2015?
Seems like we are long past short covering and this is people getting long on rumors and plans. Everything I read tells me they are trying but that there are no solutions that are sure to work and some will ruin the entire system if they are tried and fail.
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Oh what one of these headlines would do to the bots.............
GERMANY AND FRANCE TO LEAVE EUROZONE IMMEDIATELY
BERLUSCONI DISCOVERED BUYING ITALIAN CDS IN HIS PERSONAL ACCOUNT
the death of bots
Do you believe in love after love,
I can feel something inside me say.
I really don't think you're strong enough, No.....
***This Is A Joint Guardian-Telegraph-Financial Times-CNBC Breaking News Alert***
***This Has Been A Joint Guardian-Telegraph-Financial Times-CNBC Breaking News Alert***
Ah yes, our (and their) fearless (more like clueless!) leaders have painted themselves (and unfortunately, us!) into a corner, with FLAMMABLE PAINT! Who's got a match?
A new hit from Austria: "FUCK THE ENERGIESPARLAMPE" .... fuck the EU. (Energiesparlampe = Energy-saving lamp)
Background: The EU has prohibited selling traditional electric bulbs. If you are a shop owner and offer them, you are a criminal. You are only allowed to sell energy-saving lamps -- all over the EU.
Listen here: http://www.youtube.com/watch?v=inC_zWsmuus&feature=player_embedded
I fart copious amounts of carbon dioxide in the general direction of the EU and now plan on a startup that will export the most eggregious, energy wasting, incandescent light bulbs to anyone in Europe that wishes for one (with free shipping!).
go to www.cfc-lightbulbs-suck&give-me-headaches&contain-mercury.com and order your nice, warm, bright incadescent bulbs today!
Judy is standing by to take your order.
+1 for the Monty Python reference.
That seems to be the least stupid of all stupidity comming from that crap heap at the moment.
How would the algos respond to this headline:
"GERMANY DECLARES OWNERSHIP OF EUROPE"
"WE OWN YOU, BITCHEZ"
http://www.youtube.com/watch?v=KjCtwoai0pE
In fact Germany is very powerful because its economy is one of the most important EU economic engine. Without Germany, is impossible to have a viable economy in this region. The Greece problems can detroy the entire EU. I still hope something positive will happen. Gigik from BlitzReview.com portal
Can't wait till Goldman's Jim O'Neill's bullish take on today' world-historical EU summit. / NOT!
"flat is the new up!"
cnbc douche bag justified bullish equties based on that thesis...
Ha! Maybe if you're collecting dividends as also being hyped on CNBC and shares recover ex-div drop.
Central Banks are playing stocks for themselves, small deal, and also derivatives, big deal, well, THEY don't need us at all, so people, let's go home and let them alone with their mother fuc... game playing again & again.
And THEY call IT, capitalism?? THIS IS FUC... COMMUNISM BOYS, OH YES, THIS IS EVERYTHING EXCEPT FREE MARKET CAPITALISM. EVEN CUBA IS MORE CAPITALIST THAN USA. EVERYTHING IS INTERVENTIONISM, WELCOME TO THE NEW AGE, WHERE CENTRAL BANKS REPLACE GOUVERNEMENTS AND THERE IS INTERVENTIONISM AND MANIPULATION ALL OVER THE PLANET.
COMMUNISM = INTERVENTIONISM & MANIPULATION EVERYWHERE = USA & CHINA & EUROPE.
THERE IS NO MORE CAPITALISM IN THE PLANET, EVERY SINGLE COUNTRY IS COMMUNIST RIGHT NOW.
SO, CHINA IS THE NEW "ELDORADO SYSTEM" = KING OF MANIPULATION, INTERVENTIONISM AND COMMUNISM EVERYWHERE.
Communism. Ok.
So I am to throw out all that I learned about political thought and theory, and believe people like you, who believe that social classes exist in communist polities.
Wow. I really did waste my money going to college.
You've provided a prime example of why I am who I say I am, and that's POINTLESS!
I want just one of the people who clicked "vote down" on this comment, to explain to me how what we have is communism.
It's actually a feudal system, nothing changed since Gengis Khan, the difference is that nowadays, when we rip countries off of their natural resources, waring around, we just agitate a flag with democracy written on it, people have liberties but they certainly don't have Freedom...What a joke !
neocolonialists found out it is easier and more profitable to install a controllable dictator to pass along the goods rather than invade the country with your own.
Gengis Khan also introduced fiat paper currency in order to tax his vast empire.
all the "ism's" fail eventually
The US, at the federal level, is closer to Fascism than Communism.
"Lobbyism" is probably the best fit for the mess in Washington DC, where big money talks and everyone else walks.
Easy!
Dont think in OLD commnists PLEASE (i.e.: U.R.S.S. IN 1920), doing all, 99% of population, the same job for peanuts, and 1% living like maharajas!
Think in MODERN communism, like i.e. CHINA: 99% of population working for peanuts, and 1% of population with VERY BIGGGGG SALARY. +MANIPULATION, +CONTROL, +CONTINUOS INTERVENTION, +NOT FREE MARKET AT ALL...the same in USA, EUROPE, ALL THE OCCIDENTAL COUNTRIES.
By definition, capitalist = POSSIBILITY TO DO EVERYTHING FOR EVERYONE, WHERE IS THIS?? SHOW ME PLEEEEEEEEEEASE !!!
AND NOW CHINA IS GOING TO HELP US, OCCIDENTALS, SO CHINA IS THE NEW "MODEL" FOR THE FUTUR, OH MY GOD !!
China is the new capitalist country.
They already have Hong Kong and Shanghai.
They are proving that paternistic capitalism actually pulls some out of poverty. Unlike in USSA where leaders are striping wealth of the middle class.
Except China will copy USSA and also fck themselves up.
The new normal: Buy the BS, never sell.
That will work. If you are funded by taxpayers.
Be sure to take physical delivery.
you know--market reaction actually pretty tame so far. I'm not sure you're right about this yet peter. I think these fucking morons actually still think they're going to get a shock and awe surprise announcement out of this. If they actually get nothing, might be interesting tomorrow....
front page of bloomberg-- "Sarkozy PLANS to beg China for a pack of smokes and an egg Mcmuffin"
aaaaaaaaaannnnnnd done. I've officially lost my fucking mind.
Yes, a question of mind over matter -- if you don't have a mind, it doesn't matter! Some daze, it just don't pay to gnaw through the leather straps! :>D
Just end the game, truly end the game. There is no way out of this without changing all the rules and if they do that then it's not even possible to have an economy anymore.
Just end this already and lets start getting ready for the new economic model.
There is only one solution, and no one wants to face it.
Which is why they will do one nonsolution after another until they've broken everything just right.
If nothing else, you can always count on these psychopaths to do the wrong thing.
That is why all laws will be broken. The law as it stands be it contract, civil or criminal, no national custom or notion of sovreignity can trigger this tsunami of default. The only trigger possible is hunger.
The Japanese have been the trailblaizers on this issue for going on 25 years. That original real-estate debt (bubble) is still on the books of their banks. If they can extend and pretend for almost 3 decades via QE(n++), we have a very long road ahead. Eventually all this volatility will dissipate and all the markets (and the economy / GDP) will flat-line.
There is no political path to a $ quadrillion global debt write-off / system reset.
We will transition from the lost decade to a lost generation.
Personally I prefer Japan 2.0 to WW-III.
uhh..Japan had 23 years of downward spiral.
WWIII might be quicker and US is good at war.
Sorry, but the flaming bag of poo on China's front steps isn't going to work this time. So there is no solution.
There is only one outcome to all of this. And it's rapidly approaching.
and the beat goes on....
http://www.youtube.com/watch?feature=player_detailpage&v=69cJxkGirvs#t=35s
I thnk this one is more appropriate given the situation.....
http://www.youtube.com/watch?v=TEfK-3Lwph0&feature=related
Playing catch up is a bitch, just ask Whitney.
It's perfect. Algos bid up on news, based on syntaxical analysis. So you only produce news about pending news, and the market goes higher.
Ministry of Truth article 135.
Its like when you fart, even if it does not smell, you are still breathing butt air..
Looks like more bailouts for the GSE's. http://www.reuters.com/article/2011/10/26/us-usa-housing-freddie-idUSTRE79P6PZ20111026
'Everything I read tells me they are trying but that there are no solutions that are sure to work and some will ruin the entire system if they are tried and fail.'
German hara-kiri.
More like Rothschild Hokey-Pokey.
Maximize the pain, to maximize the gain.
Merkel has gone full retard. This woman is absolutely clueless and horrified at the prospect of repeating history that she's willing to go kamikaze.
At this point who cares? My congrats to the whole Rothschild enterprise.
Thank you for giving credit where credit is due. It's amazing that some people (like Denninger) are just getting up to speed in terms of understanding the compounding effects of principle + interest. It's like they've discovered sliced bread or some other common item (such as Rule of 72/doubling periods)and have this compelling need to tell the world about their find.
This shit has been going down for thousands of years. P=P+I is such a fundamentally simple system that many bright individuals tend to overlook its power. That's why criminals, bankers & politicians are drawn to its allure, whereas smart people typically focus on technology, innovation, the arts, etc.
Every time this system is put into place, a specific end point is generally known to all insiders. As a general rule-of-thumb, the game lasts for around 250 years (the average lifespan of empires) before the compounding effects completely destroy the underlying economy & society. Then the leeches move on to another victim; rinse-wash-repeat, same-old, same-old.
The unkown here isn't where we're at and how the final steps play out before the current game ends, but who's gonna be in place for the next go around. That's still up in the air - sure, the bankers might squeeze through the keyhole, but who's to say another Napoleon and/or Hitler won't come to power and grab all the marbles?
Peter, perhaps the real news over the last week has less to do with Europe and more to do with China. I'm not talking about the China ESFS story that is a footnote. The real story is :
http://www.businessweek.com/news/2011-10-26/china-s-wen-fuels-easing-speculation-with-fine-tuning-plan.html
China’s Wen Fuels Easing Speculation With Fine-Tuning Plan
If China enters the easing fray then the rest of this Euro story is mute as China, the UK, Japan, US add massive liquidity and force the ECB to do likewise.
http://rosenthalcapital.com/blog/
Huh...what are you talking about????
China unleashed MASSIVE credit over the last couple of years to combat the downturn in exports. They will not recover a lot of that debt, so it was essentially expenditures.
And you think they are going to do that again? They can't afford it.
Yep- anyone with a pulse realizes that China is playing the biggest Ponzi of them all....
Right
cocktail hour is my only solution
sell the tumor, buy the booze??
Actually, I think it is simpler than all that, Mr. Tchir.
Criminal syndicate Wall Street bankers own equities [as average Joe does nothing but sell them to the Street...every single month]. As such, criminal syndicate Wall Street bankers continue to mark equities up.
Period.
This is nothing more than co located computer mark ups of things the Street holds...with each financial services firm sure that their algorithm will be faster than their competitors when it comes time to dump.
There is no market...so applying market analysis to explain these moves is pointless.
"There is no market...so applying market analysis to explain these moves is pointless."
You rang?
That's why I changed my screen name to the one I have now.
I used to be plain-old Tsar Point, until I realized, there was no point.
/Pointless
The market cannot/will not be allowed to fail or drop. The realization/lesson from 2008 is that anything but the DOW is permitted to fail. Dollar included.
The market will fail when one of the big criminal syndicate Wall Street banks hits the sell button...and the Wall Street lemmings follow. But I don't short indexes...I short stocks...so I could care less about the Pachinko machine nonmarket.
The hardest part of all of this is listening to these ridiculous shills on the BlowHorn [cnbc] talk about "improving investor confidence" and such. CNBC should have its permit to broadcast "financial news" yanked. The credibility of this network is simply zero.
improving investor confidence actually makes perfect sense as it is the direct inverse corollary to consumer confidence... 99% versus 1%
</sarc>
Going to have to agree with Cdad here... I mean I know the average investor is pretty dumb, but this is flat out full retard...
Great observation:
Europe is playing havoc with this old trading strategy. By only having rumors and never having news they keep the markets in permanent buy the rumor mode.
Here's one for you:
http://www.bloomberg.com/news/2011-10-26/euro-rescue-fund-chief-goes-to-...
Should be good for another +100 ES in a couple hours...
How unseemly...pleading with the Chinese for help.
Wish I was a Chinese leader, cause it sure would feel great to tell that sleaze ball Sarkozy to F--K off.
Market will melt up into the close, because it can. Then Europe will play catch up to US equity markets, and futures will of course follow suit. If this crap was released earlier when European markets were open, I'm not so sure the hopium induced rally would stretch all the way into the close.
Market wants to get back to about 12,300 for no other reason other than at that nosebleed level, it will be really easy to rediscover risk-off...just wish I had more cash to short. Gold is the only thing with some concerted direction based on logic
TD - how is the FRANCO-BUND spread holding up during all this? Is there still an orderly divesture by French Banks?
The easy liquidations have mostly run their course. Larry Fink, of Blackrock, has been approached by undisclosed EU banks to buy assets from them, but Fink said these assets aren't particulary "liquid." Therefore, the EUR/USD ramp should be toward its end. From there, the market will act far more on its own accord (of course far more but hardly acting on its own--wink wink Ben).
not so fast,... if fink get's confirmation that a few private land-whales in europe are dabbling - he's in
jmo
fink knows profits keep his bot's well lubricated
Should be interesting tomorrow, after the GDP comes in lower..... Oh wait, that will be fluffed to a flat number, which will be spun as a relief for the market......
it the baffle em with bullshit market. and its working.
Also, let's not forget that bonuses will be depending on how well the next 7 weeks go so my money is on "well"
Seems the FT is going to be going 0 - 2 on this China rumor. Hey FT www.youtube.com/watch?v=FGBhQbmPwH8
On a long enough rumor mill the Dow will go to 20000
Isn't US GDP tomorrow? Aren't the 'bots the least concerned about a sub-2.5% print? The whole world has gone Euro mad.
I'm so tired of saying I'm tired of this..............
Can the central planners keep this up indefinitely?? I've had a vision of my head of one of those old time pressure gauges blowing steam with the needle way past red and seemingly about to fall off for friggin months now.
Eventually...something HAS to give right????? If it doesn't the very laws of cause and effect I will start to question.
Can the central planners keep this up indefinitely??
Nope, and when it fails it's going to be epic.
Indeed silverrhino. For me all this noise results in a mammoth sell:
1. The austerity being institutionalized and flogged throughout Europe, like a roving band of self-flagellating penitents, guarantees demand dives and stays down for years - and belts tighten;
2. President O's administration has already proven itself abundantly incapable of moving the employment situation favorably here where I type in the U.S.A.
3. Whatever [final] final solution cobbeled together by the EU will be met with a terrific wave of selling...because the banks and their bots will go with what makes them money.
And short will be the place to be.
Just wish I knew when...
agreed and it will be epic. Starting to think that this is their intent...delay...delay...delay...plan of a plan of a plan...summit and plans of additional summits with Germany hoping that it collapses on its own. Meanwhile Germany exits and the PR will be that they tried. These clowns can't even get along let alone talk about money.
Those are the emotions you should be trading off. When you are at the point of capitulation is when the market should go back the other way. The market can only do 3 things.
The only trigger is hunger in the general population if they can control that they can achieve what the Soviets could not..
and some will ruin the entire system if they are tried and fail.
Excuse me? You think this system is not already ruined? Tell me one redeeming feature of it that would define it as anything but ruined. Just a single one. I dare you....
stomachs are full.
Sure, except...not so much:
Europe's biofuels nonsense causing hunger
Flowers for European markets cause famine in Kenya
44% of Roma in Bulgaria are hungry at least once a month
"...some will ruin the entire system if they are tried and fail." Will? No Sparky, it's done BEEN RUINED ALREADY... The 1% won. I'm moving to Canada...
Jinx
Backatcha... Funny how this thing works... No harm no foul eVRWC.
No you're not. The fence isn't to keep Canadians out, it's to prevent a US migration out:
http://www.cbc.ca/news/politics/story/2011/09/29/fence-border-canada.html
Agent Smith: I'd like to share a revelation that I've had during my time here. It came to me when I tried to classify your species and I realized that you're not actually mammals. Every mammal on this planet instinctively develops a natural equilibrium with the surrounding environment but you humans do not. You move to an area and you multiply and multiply until every natural resource is consumed and the only way you can survive is to spread to another area. There is another organism on this planet that follows the same pattern. Do you know what it is? A virus. Human beings are a disease, a cancer of this planet. You're a plague and we are the cure.
...Except for there is no news. And the market loves it that way. The news was supposed to be out on the 23rd, then the 26th, then I suppose they've decided never hitting the market with the futile news is the best way to go.....just let the market eventually call you out, rigtt? And since the market is so high on hope and optimism it's a perfectly acceptable strategy for Germany as they start to make the enormous transition over the the Dmark.
I know one growing solution......
Cognitive Ignition & Stepping Stone Circulation
“The world’s thought leaders”… suddenly, their scientists “think” speeds beyond light are possible. Train A comes from south, B north. What is the speed of the gap? If we go backwards in time first, how fast are we going? Why are we popping History off the stack first?
You have a multiplexer of multiplexers, the channels are event horizons, and the contacts are a helix of helices. Set the vortex by popping false assumptions, protons, off the stack. The difference between an electron and a proton is a false assumption, that the individual is powerless, that gravity is power.
Do we really need to spend trillions, the net productivity of global generations, to rub two brain cells together and get an effective outcome? The primaries already exist. Just insert a small tap for direction/speed on re-entry. You have the command code, physics. Learn to create. Your only limitations are the false assumptions and they are adjustable.
Government is the aggregate of individuals attempting to avoid personal responsibility. The inelastic legal system protecting legacy nonperforming assets loads the spring; it crowds out short-term productivity to carry gravity up the hill to the cliff. Accounting profit measures the efficiency of the law and reports it as effective economic productivity. For the masters, it’s all downhill. For the slaves, it’s all uphill.
To date, the middle classes have been temporarily employed to extend the ponzi half-life. Now that you have global communication, you are in a position to bring the system into equilibrium with elasticity in both directions, as a platform for whatever you want to build, including the infrastructure for space travel, but, remember, you must always have a symbiotic outlet to extend relativity, time/space, or the circuit collapses. Design accordingly.
You can only be happy with what you have, not what you don’t have. Appreciate what you have, and you will get more. Those that see marriage as archaic can only see their present, which is built on a foundation of false assumptions, the false work employed and discarded by marriage, and they are always surprised when it crumbles underneath them.
A real marriage is like having 4 full-time jobs and fighting government every step of the way. Economies are built accordingly, as temporary bridges, to be felled (by the weight of the free riders) once the forward bridges are complete. Don’t build a permanent structure on the Internet and expect a happy outcome.
Marriage is accelerating through time, again, leaving the old infrastructure of socialism behind, again, to fall into fascism, again. The nature of gravity doesn’t change. The currency drain is the simplest part of the system, which is why the proprietors spend so much effort making it out to be rocket science.
Accounting money appears to provide something for nothing, with no trade-offs, by closing out the future, liquidating society into insolvency. All your anxiety will be relieved if you just take this pill, buy that car, get that job, etc, and continue to provide liquidity to the banks running the show. You play the civil marriage property game, you get what you get, an increasing trade competition for increasingly scarce goods, with excessive redundancy.
Intelligent kids are the symbiotic exit for community. With the sh** show at their back, they build the future. Gravity is everywhere. No law of physics requires them to power the old institutions. So, you need stepping stones to bring the other kids up to speed, and, conveniently, to catch older people when they fall, to advance the distribution like an inchworm.
But the people now falling from the distribution of socialism into fascism are refusing to give up their nonperforming assets so they may be properly re-fitted. Like spoiled brats, they want something better first, with every intention of keeping both, resulting in the Charlie Brown and Lucy sh** show, arguing over legacy promises because there was no trust as a foundation in the first place, in a global circle jerk, instead of building the future. No trust, no economy. Stupidity, penny-wise and pound-foolish, at the root (socialism makes this argument for the leaves) is not an act of God.
Government is the collective anxiety telling individuals to flee from the unknown, rather than pursue enlightenment, and its addictive lure of temporary relief at ever greater losses has completely shorted generational relationships, leaving them all to argue for greater government protection.
Children are not born stupid. Provide the proper pathway to education and the rest will take care of itself. Marriage as a sacred covenant, with the unknown/God, is the true church. Healthy children, and kids at heart, can’t wait to get up and face the future. That’s economics in a nutshell.
Feminists are like teenage boys with vaginas; chauvinists are like teenage girls with penises. When they mate, you get what you see, a black hole of envy, greed, and corruption, and they always yell fire one too many times. Stupidity is willful ignorance. Don’t let your kids play with the fire of false anxiety, manufactured crises, to control their environment. Every sword has two edges.
The defense against logic is not illogic; it’s making work fun, by employing imagination in an effective feedback loop. That’s the secret to parenting/leading. Intelligence is part hard f***ing work and part not replicating the same mistake. Stop driving in the rear-view mirror. Look ahead. Life is a function of trial and error. Creativity leads to innovation.
Some kids need a gentle giant. Some need a ram-rod. Each responds differently. You must adapt to them as the example. You lead in order to teach them to lead. Sometimes you hang back. That’s what this is all about.
Changing words on pieces of paper is not going to change the momentum of human behavior. You have to STRING it, turn it, and lay it back on the stack. How long it takes depends upon how long your community allows the corporate infants to send the best and the brightest to the back of the slave line, to re-enter the slave pool, without picking them up. At this point, it should not require a slide rule to figure out how much Boeing/Microsoft is costing the economy.
…and IBM decides.
Close the cave door behind you, and watch your step.
Huh? Sorry, I zoned out after about a paragraph....
Democracy in action.
Civil marriage economics:
“Apple's Marketing Playbook Was Written in the 1920s
It was the most advanced consumer product of the century.
The industry started with its innovators located in different cities over a wide region. But within 20 years it would be concentrated in a single entrepreneurial start-up cluster. At first it was a craft business, then it was driven by relentless technology innovation and then a price war as economies of scale drove efficiencies in production. When the market was finally saturated the industry reinvented itself again - one company discovered how to turn commodity products into "needs." They opened retail outlets across the country and figured out how to convince consumers to flock to buy the newest "gotta have it" version and abandon the perfectly functional last year's model.
No, it's not Apple and the iPhone. It was General Motors and the auto industry."
(highlights for those who can't read)
well, peter t., you conclude:
they are trying but that there are no solutions that are sure to work and some will ruin the entire system if they are tried and fail.
OMG! maybe the shit they 'tried' failed & ruined the system and all the king's horses and all the king's men... (and women)...
some news travels faster than other news, eh?
Personally, I think the shit news articles are taking advantage of the robots. Because the robot can't distinguish between rumor and truth. So be it. Hope they lose their asses buying and buying everything!
" By only having rumors and never having news they keep the markets in permanent buy the rumor mode."
Brilliant!
So today's big announcement NEVER came and in fact was put off again until November and the market decides to rise 180 points? Too funny. Luckily it is just bots fighting it out for pennies. And those pennies are NOT mine so I don't care. But I will be shorting again soon because something has gotta give...
Buy the expectation, sell the fact.
Participate (not play).
Position (not bet).
You are indeed the Prophet. Participate and Position. Like a sentient being...
i'm wondering what happens when the real news comes out, and it's long been baked in the cake,... some kinda of a surprise party, eh?
ES still trying to make new highs, well over the 50-day
NY Composite making a charge for the 200-day.
Bears who bet on an "implosion" in Europe and thought the Plutocrats and TPTB were too "stupid" to engineer a stock market rally based on rumors, disinformation, etc. are getting badly burned.
While those of us who are just amused bystanders get summarily whacked with machetes and mowed-down with machine guns.
Whether you're a bull or a bear, whether you're a "long" or a "short", the long and short of it is, we're all fucked.
Oh, well. That's what you get for allowing your financial "markets" to become casinos for the rich and well-connected.
I am not amused.
I hope they can kick the can for another decade, to give us more time to prepare for the inevitable.
Anyone who has listened to your advice after each "after the fact" prediction have been badly burned.
es still hasn't reclaimed the early august neckline around 1245...weak volume...saw es short term top at 1247 imo
robottrader: on a long enough time line his portfolio might recover.
He's still trying to talk up his Sept 520 calls on Netflix.......
Keep swinging, Robo- you'll make a difference
"Bears who bet on an "implosion" in Europe and thought the Plutocrats and TPTB were too "stupid" to engineer a stock market rally based on rumors, disinformation, etc. are getting badly burned."
Unfortunately, you are correct.
LOL- bot more NTFX calls, eh? You probably just talked up the market 20% right there......
Not nearly as bad as your loser ass got burnt on Netflix and Amazon...ha, ha, fascist fool!
Wait until tomorrow when they announnce QE3 ...
Why do they need QE3? The market seems to be doing just fine.
The markets are only looking a few days to perhaps a few weeks into the future.
You say that the EZ might break up in the next year or two?
As far as affecting stock prices today, you might just as well say the next century.
Bingo!
Daytraders - the entire lot. And all of them are smart enough to "get out at the right time".
Dogbert the CEO:
Arguing with the markets isn't good for one's P&L..
what lunatics does the +2.5% GDP number come from?
I hope it prints at - 2.5%, to get some sense closer to what the real "productive part" of the economy is doing.
Nah, not a chance- Obama, Timmy, and Ben are fluffing the number right now.....
I can't wait until every stupid ass weak ass short looses every fucking dime they have. I'm tired of the stupid fuckers getting sucked into every downward move thinking "this is the big one" just to get squeezed out. The sooner they stop participating the sooner this market can fall to a level where it belongs.
LOL- love it when they make themselves look ignorant.....
Looks to me like there are a few out there loosing their asses.
My ass is just fine.... BTW, try to stay current- short interest has dropped to low levels.... But don't let facts get in the way of your rants.
Me, I can ride my short stuff for a long time- my carry costs are a minor expense, and I'll short a month like Sept every time.
BTW, you're welcome- do you really thing the market should be long-only? What would you do without my liquidity?
LOL
You're so fucking stupid you don't even understand what I am saying. I can guarrantee you that a bunch of stupid weak shorts jumped on yesterdays down move and got squeezed today. By the way I know what the short levels are. And I've been making a killing shorting on strength instead of getting killed like the momo shorts. What a dumb fucktard.
Think about that for a moment ....
Ignoring bad news. NOT what the shorts wanted.
Even Euro shorts get no love today.
Was there an accord? Marketwatch BREAKING says there was an accord??
reuters says 100 billion writedown on greek debt
There will always be a rumor in the back pocket for the MSM to pull out when nothing happens during these Euro meetings. Always.
Look how the media smothered the story on Fukushima. One day there were reporters everywhere in Japan and poof. Gone. Never heard about it again. So it doesn't matter that the meltdowns happend and radiation pouring into the ocean and country of Japan.
The MSM has perfected the process. The facts aren't going their way and the market is down then time to roll out a rumor to CNBC or FT etc. etc. that THEY ALL REPORT AS FACT.
As long as the Echo Chamber Orchestra plays along, the algos drive up the markets and the MSM gets closer and closer to re-electing their god and savior BHO.
There is very strong chance of a credit event in next 48 hours OR a barrage of downgrades in next 72 hours
Agreed. When the leaders of Europe announce that there's a crisis, and banks are undercapitalised, and sitting on huge losses ... WHY WOULDN'T DEPOSITORS BE RUNNING THE BANKS?
I agree. I think everything is eerily calm at the moment--merkel, sarkozy etc asking themselves "holy shit, did we really just get away with doing absolutely nothing?"
Think a booming "NOT SO FAST" is in the works.
Incorrect.
This is that they are making the hair cuts "voluntary". By doing this, they take away the "credit event" so those who were buying up the CDS garbage end up not getting paid because of a technicality. They aren't going to let the system fail and will destroy contracts in order to do it.
This is why you don't take counter party risk against an entity with government backing. They will change the rules so they don't have to pay.
case you didn't notice, that has been the sticking point the whole time. Remains to be seen whether or not they can find a way to avoid triggering CDS.
This is the crack up boom - at least the start of it - or something very like it.
Fantasy accounting rules -- for now. We all want to know when reality will bite, the truth is it will probably be on the shocking side of sudden when it arrives.
Still huge denial among the entire spectrum of humanity that the era of growth is over, and has been for a while.
Leveraged Short S&P ... Fuck it, I feel like trading today. Been sitting on my ass for too long, and didn't feel like driving to the casino.
Time to downgrade France and Germany aurevoir le AAA rating
Cost of money for primary dealers = 0. Primary dealers buy and sell financial assets to each other.
Stock Market prices will be what they want them to be...until real net redemptions are needed (e.g. pension funds paying out more than they are taking in). That won't happen for a while I think unless the Federal Reserve stops funding the federal deficit.
Today's market action has to be one of the finest disconnects I have ever witnessed. Breath taking.
Serious question you guys. Watching SPY on the one minute today near the close there are flash trades down over a dollar. Three times in a span of maybe 20 minutes and each time down to 123. Question: I've played/watched this market for 10 years but rrecently have seen more often flashes such as this one in one stock at any one time. Often when I check the pattern later in the day the flashes have been deleted. Cause? HFT on low volumn? More info the better. Double thnx.
HFT's setting a fluff price with cancelled bids motivates someone to actually sell. When they put the sell order in, the only REAL buyers (not cancelled bid) are much lower. that's my theory anyhow.
good a theory as any. But there is something more than that methinks.
it does not matter if countries get downgraded aa will be the new aaa and so on and so on ......
Well if all else fails and you absolutely need a AAA there is always the American Automobile Association.
Just so they don't downgrade Pork Chops.
Dexia, MF Global, now FBR Capital announcing massive job cuts and talks of liquidations. Is this an accelerating trend?
Brakes on rsvp
remboursementThe markets are now surreal, dreamlike, lacking credibility...................
Only just now?
I use a ouija board where I replaced all the letters with the picture of highly respected psyhopathic narcissists. It really helps because every time I look at the board, I get this shock and forget about it for a while. It is getting longer and longer in between now that I get out the board. I am told that electro shock therapy works to help you forget. But what if I forget and want to trade again?
Guys, stop losing at life... End of the month window dressing, wait till start of November to short.
F**king hell, not that excuse again...
"end of day melt up"
"end of week ramp job"
"end of month window dressing"
"end of quarter window dressing"
"end of FY window dressing"
"end of financial system blow-off top"
... f**k me, it's never ending.
Markets move to their highs of the day then ease off as the investing world roots for lasting resolution to the euro zone's 2-year-old debt crisis.
Yay! go team go!