Daily US Opening News And Market Re-Cap: October 12

Tyler Durden's picture

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msmith's picture

Should be an interesting day today with a possible reversal ahead of us with equities.  Here is a look at the DX, GC, and the EURUSD.  http://bit.ly/pm0tLD

LeonardoFibonacci's picture

Market will be up today regardless of the bad news.  Let's stay positive even if it a malignant cancer.

Goldenballs's picture

What part of " NO " do the EU not understand.They are so corrupt they give hardened criminal a bad name.

celticgold's picture

new bill , same as the old bill ....but DIFFERENT this time

disabledvet's picture

Talk about bailing out the the elites! This is TARP on a Continental Scale--with Grece, Portugal, Italy, Irealnd, Spain, Belgium...and England?...caught up in the boondoggle. It sure looks like the fix is in with French banks being recapitalized to keep the German economy moving...while everyone else is left in the lurch. A lot of things can go wrong with this wild one!

MFL8240's picture

The US markets are no longer worth investing in.  This is no more than a casino, no value, no logic, no intergrity.  A total shithole rigged by the gansters on Wall Street and in the bowels of Chicago.  Collapse coming, buy Gold.

Was pleased to see that Bernanke and Geithner got their due respect last night at the Republican debate.  2 clowns and the country knows it.  Can add Holder to that list too but for different reasons.

Dumpster Fire's picture

Sell the news then buy the rumor.  Groundhog day will never end.

Village Smithy's picture

Have you ever opened the door of the tool shed and startled a mouse? They instantly scurry for cover underneath some pile of junk. There they will stay burrying their heads in the sand so to speak, as you dismantle the "hiding place" piece by piece until you know they are right there under that last old shingle. They seem to think that as long as they can't see you, you can't see them and they are safe. The situation in Europe has some striking similarities. Now, I don't know how it turns out for the mice in your tool shed but I know in mine...

John Law Lives's picture

Good ole Wall Street shenanigans. 90 days ago, analysts were forecasting Pepsico would report EPS of $1.36 today. That EPS estimate was systematically ratcheted downward to $1.30 this week. Pepsico just reported $1.31, so naturally the MSM reports that Pepsico beats EPS. Shares are higher in pre-market. http://finance.yahoo.com/q/ae?s=PEP+Analyst+Estimates Amazing that this song & dance routine still works on the masses. Then again, maybe it is not so surprising... Maybe one day the sun will let loose on a massive solar flair and deactivate the 'bots that run the financial world. Somehow, that would end up being bullish once power is restored.

Johnny Lawrence's picture

Amazing...the Dow is almost close to flat for the year now.

European markets down 13-16%.  Brazil down 22%.  India down 26%.  China down ~ 18%.

And somehow the Dow is nearly flat.

John Law Lives's picture

Such is the power of the printing press and currency devaluation. Give the Chairsatan his due.

warchopper's picture

"Ron Greiss posted a chart in his blog that compares the move down from 2007 to the current move. He states that "The current market has many similiarities with the first move down off the 2007 high. We have circled both the price in the upper panel and the MACD indicator in the bottom panel. The retest low in 2008 came 8 weeks after the initial low. The ensuing rally lasted 9 weeks and travelled 14.58%."

I hope he is wrong, but as usual, he looks to be spot on, again. I have some pretty bearish bets that I don't want to hold through a 14% upswing. Conversely, I do not want to hedge them because of downside risk.

Gene8696's picture

Saudi wants Iran taken off China & Russia's vender list... They need oil north of $110-115 over next 12 months. Anyone been to Dubai lately?