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

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Wed, 10/12/2011 - 08:07 | 1764988 msmith
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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

Wed, 10/12/2011 - 08:28 | 1765026 LeonardoFibonacci
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Market will be up today regardless of the bad news.  Let's stay positive even if it a malignant cancer.

Wed, 10/12/2011 - 08:10 | 1764990 drwillia
Wed, 10/12/2011 - 08:19 | 1765005 Goldenballs
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What part of " NO " do the EU not understand.They are so corrupt they give hardened criminal a bad name.

Wed, 10/12/2011 - 08:21 | 1765010 celticgold
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new bill , same as the old bill ....but DIFFERENT this time

Wed, 10/12/2011 - 08:36 | 1765042 disabledvet
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!

Wed, 10/12/2011 - 08:41 | 1765045 MFL8240
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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.

Wed, 10/12/2011 - 08:42 | 1765059 Dumpster Fire
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Sell the news then buy the rumor.  Groundhog day will never end.

Wed, 10/12/2011 - 09:03 | 1765105 Village Smithy
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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...

Wed, 10/12/2011 - 09:05 | 1765110 John Law Lives
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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.

Wed, 10/12/2011 - 09:13 | 1765132 Johnny Lawrence
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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.

Wed, 10/12/2011 - 09:22 | 1765160 John Law Lives
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Such is the power of the printing press and currency devaluation. Give the Chairsatan his due.

Wed, 10/12/2011 - 09:14 | 1765134 warchopper
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"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.

Wed, 10/12/2011 - 09:38 | 1765251 Gene8696
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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?

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