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The Deer Is Back

Tyler Durden's picture


It seems high-yield credit was on to something as we noted last night (here and here). Today's matrix-like collapse in equity perceptions of decoupling and central bank largesse sets up for more of the same as we suspect the ECB will hold off from acting until post-Greek-election to ensure the M.A.D. 'game' remains in place and with rates where they are, Bernanke will have to come up with some magical wording for his next QE raison d'etre. Today's 2.5% drop in the S&P 500 back below its 200DMA, its largest single-day drop in seven months, and the accompanying flood into safe-havens has left Gold and Treasury Bonds now outperforming Stocks for the year (with the Dow red YTD). S&P 500 e-mini futures volume was it highest of the year as we sit at the edge of the waterfall level from last July/August's plunge. Gold's 4% gain is the biggest day since January 2009. Treasury yields plunged to new all-time record lows with 30Y showing a 2.50% handle and 10Y a 1.43% handle. All the high-beta hope names were crushed with financials down 3.7% - their largest fall in 7 months (with the majors even more). VIX jumped 2.6 vols to close above 26.5% at 7 month highs. What is perhaps most disconcerting is the total lack of bounce into the close now two days-in-a-row - deer, meet headlights.


S&P 500 back under 200DMA, biggest drop in 7 months - close to unch YTD (as the Dow closes red for the year)

Gold's 4% rip is the largest single-day gain in 41 months!


and longer-term things are getting scary...

as YTD, Bonds are the winner now followed by Gold and the USD...


Charts: Bloomberg and Capital Context

Bonus Scary Chart: If the relationship between broad risk-assets (TSY levels and curve shape, FX, commodities, spreads, and PMs) from April persists then a longer-term CONTEXT is implying the S&P 500 should be 100 pts lower...


Deer courtesy of Roman


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Fri, 06/01/2012 - 16:12 | 2485687 fuu
fuu's picture


Fri, 06/01/2012 - 16:17 | 2485720 battle axe
battle axe's picture

Fucking Europe. I mean we might be dysfunctional, but they are full on RETARD.

Fri, 06/01/2012 - 16:26 | 2485777 YC2
YC2's picture

I cant wait till every half wit boomer thinks the crash that wiped him out was because of "those damn Europeans" and doesnt see that its a systemic problem and that the preceding benefits were due the building up of an imbalance.

Fri, 06/01/2012 - 16:31 | 2485805 Badabing
Badabing's picture

What is perhaps most disconcerting is the total lack of bounce into the close now two days-in-a-row

once the Bilderberg powwow is over things will be back to ab normal.

Fri, 06/01/2012 - 16:33 | 2485817 xtop23
xtop23's picture

PPT on standby to force a QE launch apparently

Fri, 06/01/2012 - 16:45 | 2485894 Panafrican Funk...
Panafrican Funktron Robot's picture

QE3 is either going to focus on long dated treasuries, or there are a metric fuckton of retards in long dated treasuries.

Fri, 06/01/2012 - 16:52 | 2485924 Caviar Emptor
Caviar Emptor's picture

Remember ZHers:

In today's markets we say : Bulls lose money, Bears lose money but PIIGS will fry! :-)

Fri, 06/01/2012 - 16:52 | 2485932 jonan
jonan's picture

does that mean people, like myself, born in the year of the pig will be gabillionaires?

Fri, 06/01/2012 - 17:16 | 2486027 DeadFred
DeadFred's picture

The correct answer is 'Gabacon'

Fri, 06/01/2012 - 17:45 | 2486110 Comay Mierda
Comay Mierda's picture

Oh how we all missed our beloved deer

the next image ZH should prepare is one of a ceiling fan surrounded by shit-splattered walls

Sat, 06/02/2012 - 00:36 | 2486785 Nothing To See Here
Nothing To See Here's picture

Fuck yeah @ teh.deer

Reminds me of Barney Frank after the 2008 crash. "That was totally unpredictable, blame the unregulated (!) market, blah blah"

Fri, 06/01/2012 - 17:52 | 2486115 sitenine
sitenine's picture

I'm feeling like a deer right now.

Check this out: Are we there yet? 'Greek Drachma' on Bloomberg ticker (PHOTO)

Tyler, can you give us your thoughts on this interesting happening?  It just seems to me that you don't put your 'test' scenario or info into 'production' platforms without a very good reason.

Fri, 06/01/2012 - 21:27 | 2486555 The Big Ching-aso
The Big Ching-aso's picture



A Dough Deer in the headlights which is about to be Michelined.

Fri, 06/01/2012 - 17:21 | 2486040 Darth..Putter
Darth..Putter's picture

What good will it be to be a "gabillionaire" if you can't buy a sandwich with it? 


This is all the result of the the "Me Decade" anyway.

Sat, 06/02/2012 - 06:44 | 2487002 BorisTheBlade
BorisTheBlade's picture

Which century are you from? Sandwich, really? It is a barbarous relic, civilised people feed themselves by ingesting iPads.

Fri, 06/01/2012 - 17:26 | 2486052 DaveyJones
DaveyJones's picture

you can't keep a real currency down

especially when the fake ones' polyester is showing.

Gold is like wool, it helps the sheepish and retains most of its heat in the bad weather.

Fri, 06/01/2012 - 17:10 | 2486007 francis_sawyer
francis_sawyer's picture

pork bellies... I KNEW IT!

Fri, 06/01/2012 - 17:26 | 2486062 AldousHuxley
AldousHuxley's picture

pork bellies and beef are back to 2009 prices.


Fri, 06/01/2012 - 18:44 | 2486246 BeetleBailey
BeetleBailey's picture

Valentine has set the price.

Bernanke has the G.I. Joe with the Kung-Fu grip - around his scrote sac.

Fri, 06/01/2012 - 16:57 | 2485949 agent default
agent default's picture

Nah, the FED will just step in and start buying everything ETFs, equities, fucking Facebook you name it they will buy it.  And then they will lease out their tungsten, gold at negative rates to smash PMs, in order to create the impression that the dollar is worth something.  And then it will all come crashing down, and PMs will be the only thing left.  Got gold? 

Fri, 06/01/2012 - 17:24 | 2486053 DeadFred
DeadFred's picture

The Fed said there would be no more printing while the economy is still inching upward and the market is doing well. The banks said "have it your way'. Ben won't print until everyone is begging him to print. Where is that S&P 1200? 1100? 1000? It won't be at the 200DMA that's for sure.

Fri, 06/01/2012 - 17:27 | 2486068 Caviar Emptor
Caviar Emptor's picture

Read My Hips : No New Printing

Fri, 06/01/2012 - 22:15 | 2486620 Rynak
Rynak's picture


The Fed said there would be no more printing while the economy is still inching upward and the market is doing well.

The economy has  never been "upwards" in the last 30 years for everything but the elite, and the so called "market" has untill 2011 just been a measure of increased COST for the majority.... so the whole rethorically (or shall i say sophisitically) implied argument, has been deceptive from the start.

The elite will simply print whenever it suits THEIR interests, and is tactically and strategicallly apparently sound, to further the interests of said elite. NOTHING ELSE matters, including the real economy, real monetary price in/deflation and real economic "growth (HAHALOL)/ contraction).

Policy choices are EXCLUSIVLY based on massdeception and gains for the elite, and nothing else.... especially not the fucking real economy, which no one except of average joe remotely gives a fuck about anymore.

Fri, 06/01/2012 - 17:07 | 2485993 rocker
rocker's picture

Begging for more QE. The retards must see it to be safer than equities.  I'll just stay in Cash for now.

At the end of May Blackrock (BLK) did a SPO of 26,211,335 shares @ $160.00 a share. Over 4 Billion dollars.

Why would they need all that money.  Are they defending existing positons?  Or do they see something else.

Did they get themselves in trouble. Finky was on Charlie Rose begging people to buy stocks.



Wed, 06/06/2012 - 13:43 | 2500102 Silver Bug
Silver Bug's picture

It's going to get interesting.


Charms and Beads

Fri, 06/01/2012 - 16:50 | 2485918 The Gooch
The Gooch's picture

Tornado watch in D.C./surrounding areas right now...

One can only hope... F5 on the Marriot.


Fri, 06/01/2012 - 17:07 | 2485995 12ToothAssassin
12ToothAssassin's picture

Praying for finger of god

Fri, 06/01/2012 - 17:35 | 2486086 The Gooch
The Gooch's picture

Hammer of God.

Or John Bonham.

Fri, 06/01/2012 - 23:04 | 2486687 Bansters-in-my-...
Bansters-in-my- feces's picture

The "Bilderberg Boogie' you say.

What a bunch of traitorous scum all in the same room.

Makes me sick to think of it.

Fri, 06/01/2012 - 16:40 | 2485865 battle axe
battle axe's picture

YC2: No body thinks the "crash" was the Europeans fault, my comment was in reference to their current inability to come to a consensus on a common solution, such as a Eurobond. You know the idea that has been floating around for how long? It would take care of their problem but the Germans/Austrians/Fins etc etc will not go for it. 

Fri, 06/01/2012 - 16:48 | 2485892 xtop23
xtop23's picture

If you were the Germans and rather than elevate the periphery nations to the German standard of living, you would yourself be reduced to the periphery standard of living would YOU endorse Eurobonds?

Merkel would get shot within a week.

Fri, 06/01/2012 - 16:47 | 2485910 battle axe
battle axe's picture

XTOP23: If I was German I would say hell no, to the Eurobond. But answer me this, what other solution is there for the Euro problem? The clock is ticking......

Fri, 06/01/2012 - 16:49 | 2485919 xtop23
xtop23's picture

Return to the DM and let the chips fall where they may. It's coming regardless.

Fri, 06/01/2012 - 16:52 | 2485930 battle axe
battle axe's picture

Hell maybe you are right, but that way there is a lot of blood in the streets. My way maybe not as much.  

Fri, 06/01/2012 - 17:01 | 2485938 Rynak
Rynak's picture

No there isn't asshole. You're just appealing to short-term pain versus long-term pain. Buy crack today, and get billed tomorrow.

The DM was "this is where we are now, by our own means".... the EUR to germany was "Hey, lets play the game of pretend. Let's pretend, we are worth shit, and let our banks lend to the periphery.... then lets invite globalist multinational megacorps in and advertize us as a new mini-china, from which they can directly export to the periphery.... heck, our banks will even pay the periphery to buy your products, which you get to produce at below-national-cost level in our country. And the creditors shall be happy too, because they get to lend to us, and get to lend on fire to the periphery. And as long as we do not add up the real numbers, our balance-sheet will show us as mega-wealthy and benefiting, while actually, we're just working ourselves to death, AND then get the bill."

TL/DR: "Take this money from me, and buy my wares, and i'll become rich!"

Fri, 06/01/2012 - 17:02 | 2485973 battle axe
battle axe's picture

Rynak: First, get off the coffee, you get a little too excited. Second, A Eurobond would buy what Europe needs most and that is time, it would extend out the debt that these countries have and lower the payments. An example would be "Brady Bonds" that were issued to help out Central and South America, back in the 80's. This would allow the Europeans to slow everything down, and stop minor things like BANK RUNS. If you have a better solution, I would love to hear it.....

Fri, 06/01/2012 - 17:17 | 2486026 sitenine
sitenine's picture

battle axe Biography

I was in Institutional Fixed Income Sales, now I am at a hedge fund.

You're not so clever as you think you are with your Eurobond babble.  More debt solves everything in your miopic little world, but most of us don't live there.  Frankly, most of us don't give a shit about your kind or your oppinions.

Fri, 06/01/2012 - 17:25 | 2486059 Rynak
Rynak's picture

My better solution is: Print 20% of GDP for every nation in the EU, AND then do NOT use it to lend it out to anyone else! Every EMU nation shall then use the printed money, to buy up commodities and take delivery, including PMs. In a matter of one month, develop plans and means to deal with an "aftermath". Do all of this in secrecy as much as possible.

Next, preemptively force a european bank collapse, by letting the chips fall where they may, and use the accumulated (and someway (money) inflation and (economic) depression resistant commodities, as well as the laid out plans and means, do deal with the collapse. Do not attempt to backstop banks going kaboom.... just backstop a reasonable amount of deposits. While you're at it, default on most of the gov loans to global banks.

Then already while the dust is settling, the nations shall announce plans to rebuild their economies, and with near zero national debt, introduce commodity-backed national currencies.

This alone will let most european nations pull an iceland, and in a matter of years by cold hard numbers be more trustworthy than the rest of the world, even if their economies are still in the middle of readjusting and rebuilding.

Unfortunatelly, international elitist influence will quickly want to see blood. So ironically, right after dissolving the EMU, what europe will need more than ever, is cooperation against globalist retaliation. Chances are that they will at first try to isolate europe economically, but if european nations work together on mutual interests, and can keep russia as an ally, such "sactions" will fail and actually boost domestic economies of europe and russia.

Next up, they will switch to more megalomaniac means..... and while the possible outcome include doomsday.... the thing is that this confrontation will come anyways..... it isn't a matter of "if"..... it is a matter of HOW.... and it is the "how" on which all thoughts and preperations should be spend, not on the false assumption of avoidance.

One thing i haven't answered in all of the above, is why i prefer confrontation, over "extend and pretend"? The answer is simple:

IT IS ALREADY TOO LATE. There is no "time" to gain for anything else than to suffer longer. The time to "sort it out" or "fix it" has been passed long in the past. The only question left is how the confrontation happens, not IF!!!! The question is who wins how in the deathmatch, not if the deathmatch happens.

Fri, 06/01/2012 - 18:04 | 2486150 Silver Pullet
Silver Pullet's picture


I don't think he was expecting that you had "a better solution".

Fri, 06/01/2012 - 19:13 | 2486315 disabledvet
disabledvet's picture


Fri, 06/01/2012 - 19:36 | 2486379 bbq on whitehou...
bbq on whitehouse lawn's picture

How about governments are never allowed to barrow money and must rely on donations for any spending. Also how about removing the ability to incorperate since its never in the public good.

Those two alone would fix most of what is illogical in the finacial system.

Fri, 06/01/2012 - 20:13 | 2486436 Rynak
Rynak's picture

Even if it may surprise you, i completely agree with this proposal, and have proposed just this multiple times before (the "no debt"-rule in various posts, and the "donations"-bit, by proposing a "bottom-up"-funding model as the rule of law for all public spending... meaning, contrary the the concept of "taxes", "higher ups" (on every level, not just the gov) have no authority to command "funding" from lower ups.... instead, every public policy has to be voluntarily funded by the lower levels. So, i.e. a city can only spend what it's population agrees to spend on. A state only gets to spend what the cities (with its population consent) agrees on, and so on up to the national level.

At the time i proposed this, i did not restrict this bidirectional mutualism to capital, but also applied it to lawmaking (basically, the idea was: The "subs" (i.e. population) can always overrule the supers (i.e. state or nation), both by funding as well as policy-design and voting).

What my proposed model ultimately was, was simply "the population decides about the style of "governance", and can always overrule the current one. So, if a population were actually capable of full-blown anarchy, it could do that, and on the other extreme, if a population was willing to allow full-blown dictatorship, it could allow this.... but always with the power to change the current form of society, if it wishes to do so.

Basically, i am not so much interested in establishing specific gov-form anymore, but more in mechanics how to empower to the pop to make possible whatever it wants. I by now think, that the fundamental flaw of nowadays societies does not lie in "which ideology is right for everyone" but instead on the population being deadlocked on some scheme to begin with, and being discouraged to change it if it doesn't like it.

This is not the same as "direct democracy" by law (even though it includes it).... it simply is a desire to let the population anytime simply decide just what it wants, including a "benevolent dictator" as long as it is satisfied with this setup.

Or even simpler: My concern by now is no longer how to implement a supposed "perfect" ideology permanently. Rather, my concern is a system that does not exclude anything, and does allow everything, as long as it is in line with the population. Thus, making the population actually responsible for it's own choices, on all levels of scale.... something which is almost completely absent in nowadays political models.

Sat, 06/02/2012 - 01:37 | 2486831 Flying Tiger Comics
Flying Tiger Comics's picture

Face(eater)book like button adds one cent to any idea you click like for... Force governments to only have that as a means of funding non-essential expenditure, and reduce non-essentials back to what it should be, which is a very short list.


No more statues to crooked politicians, retard studies, homosexuality promotion, third world mass immigration with automatic welfare, no more handing out passports like halloween candy.


PS it will never happen in this universe. Sadly.

Fri, 06/01/2012 - 23:16 | 2486693 HurricaneSeason
HurricaneSeason's picture

Each country should have their currency backed by a different commodity.  The U.S. could claim they have a huge amount of gold and the currency is backed by gold. The currency wouldn't be directly convertible to gold at a bank due to the handling charges.  Then, France could back their currency with pork bellies. Every bank would allegedly have tons of pork bellies in their vaults, but nobody would be allowed to see them due to health concerns. The French currency wouldn't be directly convertible to pork bellies at the bank, due to health concerns. There could be black market exchange rates at jewelry stores and grocery stores, but they wouldn't truly reflect the value of the currencies or commodities.

Sat, 06/02/2012 - 04:24 | 2486948 Cosimo de Medici
Cosimo de Medici's picture

Okay, print approximately $2.7 trillion and then have almost two dozen countries all try to load up on commodities at the same time "in secrecy as much as possible".

Call me a cynic, but I don't think this could be done in any degree of "secrecy".  Remember the land rushes in 19th Century America?  Europeans would shoot down each other's aircraft on the way to Australia or Canada or Angola.


Assuming they somehow got commodities, and had no effect on commodity prices despite their race to throw $2.7 trillion all at once, they would then create a currency whose value was 1/5 of their former GDPs, which I suspect would not quite lead to absorption of Spain's 25% unemployed.

With the collapse of the banks, nobody would have either savings or capital to start a new business, as deposits would go POOF!  And how would you distribute this new commodity backed currency?  Do I get more or less than you?

Please, forget Iceland.  Its example would work only for Bernie Madoff, as it was all based on hoodwinking external capital into Iceland's domestic scheme.  There is absolutely nothing comparable, and no lesson whatsoever, for Greece, Spain, Germany, Italy, etc.

On this site, I find the greatest degree of misunderstanding related to what happened in Iceland.

Fri, 06/01/2012 - 22:38 | 2486665 dougngen
dougngen's picture

your right, euro bonds would buy some time. more debt to solve a debt problem. but is it the right thing to do? take taxpayer money from other countries to bail out Spanish banks?

no matter what this ends badly, I think your in the first stage of grief... denial.

the bankers need to fail, not be bailed out by hard working Europeans and Americans

Fri, 06/01/2012 - 16:56 | 2485946 xtop23
xtop23's picture

I get ya man. The problem is, there is NO way this doesn't end bloody.

It's either a conventional explosion or a thermonuclear one. 

Probably too late already.

Fri, 06/01/2012 - 17:03 | 2485979 battle axe
battle axe's picture

xtop23: Sadly I think you are right, they waited too long....

Sat, 06/02/2012 - 07:56 | 2487022 prole
prole's picture

They waited too long .... to build enough Gulags?

They waited too long ... to call it the EUSSR and make battle ax the new Stalin? (more like Beria)

They waited too long .. to bring the old Machine-gun nest/East German walls back out of mothballs?

Just what exactly did they "wait too long" for Comrade?

Fri, 06/01/2012 - 17:05 | 2485983 SPAREPARTS
SPAREPARTS's picture

Eject, extract is the best answer for productive nations, you cant carry the load. Spain and the like will be harmed but thats what the natural outcome is

Fri, 06/01/2012 - 17:04 | 2485982 Treason Season
Treason Season's picture

You see that battle axe of yours? It's used for dismemberment.

Fri, 06/01/2012 - 19:00 | 2486280 GernB
GernB's picture

The whole concept of finding a "solution" is bone headed, it presupposes there's a way out, and there isn't. The "fix it" mentality is compunding the problem daily as more and more resources are poored into "fixing" what can't be fixed. Greece spent more than they had and borrowed themselves into a hole, lenders keept lending them money knowing the risks (even if they wouldn't admit it to themselves), CDS sellers kept selling CDSs knowing the risk. They all screwed up and if "fixing things" means perpetuating the problem or spreading it to more and more institutions then I say don't fix it.


If there is any "fix" it is the fix that has been used for decades: let insolvent countries go bankrupt, let the institutions and individuals who made the bad bets fall, and focus your efforts on protecting those not involved in creating the mess in the first place.

Fri, 06/01/2012 - 19:15 | 2486325 disabledvet
disabledvet's picture

you mean "there are no POSITIVE solutions." I agree. And i respect your "journey to the Dark Side here" as well. I shall toast you with a glass of blood wine this PM!

Fri, 06/01/2012 - 19:34 | 2486368 GernB
GernB's picture

Thanks. What worries me is that while everyone is pretending there's a solution, nations of the world are continuing compounding their debts exponentially. The world badly needs a wake up call more than it needs the false sense of security all these "fixes" keep promising.

Fri, 06/01/2012 - 21:10 | 2486533 Rynak
Rynak's picture

Doesn't your reply imply, that there is at least a "least evil", even if not an overall benefit in the short term?

In that case, i think this is what the majority in theory considers a "good solution", even if it does not actuallly result in a net benefit.... basically "best of the available options".

Fri, 06/01/2012 - 23:26 | 2486700 HurricaneSeason
HurricaneSeason's picture

The fix is to loan more money than the previous year, every year. Give free houses to people that don't have jobs and let them take out a second mortgage when they still don't have a job. That worked for awhile. Let the federal government spend trillions more than they take in. That worked for awhile. They need to do a lot of loaning right now.

Fri, 06/01/2012 - 17:31 | 2486078 DeadFred
DeadFred's picture

They are Germans. If they're told to jump they will jump. Who will tell them?

Fri, 06/01/2012 - 16:48 | 2485911 delacroix
delacroix's picture

eurobonds, are not a solution, but a postponement.

Fri, 06/01/2012 - 16:53 | 2485937 battle axe
battle axe's picture

Maybe, but they buy time perhaps a couple of years, so that this Cluster Fuck can maybe be defused..... 

Fri, 06/01/2012 - 17:05 | 2485988 SPAREPARTS
SPAREPARTS's picture

it only gets bigger

Fri, 06/01/2012 - 17:08 | 2485997 gnomon
gnomon's picture

Defused?!?  I would say that you are confused.  There is NO defusing this mess, NO solution other than extreme distress for many years.

Fri, 06/01/2012 - 17:09 | 2486003 gnomon
gnomon's picture

Defused?!?  I would say that you are confused.  There is NO defusing this mess, NO solution other than extreme distress for many years.

Fri, 06/01/2012 - 17:18 | 2486031 imbrbing
imbrbing's picture

You cant defuse something that has already blown up

Fri, 06/01/2012 - 19:50 | 2486402 spinone
spinone's picture

problems have solutions, predicaments have outcomes.  We are in a predicament.

Fri, 06/01/2012 - 17:38 | 2486089 Treeplanter
Treeplanter's picture

Does the boomer who wiped your shitty little ass now wish she'd had an abortion? 

Fri, 06/01/2012 - 22:27 | 2486654 Buck Johnson
Buck Johnson's picture

You're exactly right, and we will go insane with rage and vitrol once we see that we won't be getting those govt. checks anymore.

Fri, 06/01/2012 - 23:19 | 2486695 Freddie
Freddie's picture

Well loads of those dumb boomer f**ks voted for Hope and Change.  McCain sucked but the alternative has been about 10x worse.

Fri, 06/01/2012 - 19:22 | 2485815 Rynak
Rynak's picture

No, "they" (from my POV "our overlords") just like to make more of a drama, before "they" decide to agree to slaughter us.

In US: "Get assraped!" "Mkay!"

In EU: "Get assraped!" "Oh you're so digusting" "Bend over!" "Oh, but i'm still a virgin and...." *click* "STFU! Look what happened to greece over there...." *view changes to a bloody pulp, with vultures eating organs* " want to end up like that?" "Oh, i'm sorry, i didn't want to...." "See, that's my bitch."


"You can't say civilization doesn't evolve. Every generation, the choosen ones rape you in a new way." - rynak.

Fri, 06/01/2012 - 20:48 | 2486506 jelyfish
jelyfish's picture

Keep that gay shit out of the forums son!

Fri, 06/01/2012 - 21:00 | 2486517 Rynak
Rynak's picture

I wasn't thinking "gay" when a wrote it (though, i don't give a crap if anything "implies" it).... but apparently you were.

Can you please point me to what supposedly was "gay" in my above post, because i just can't find it, unless you identify anything "anal" with "gay"? (While on that topic, i never really got what people like so much about anal (NOT my preference at all).... yet, perhaps just because it isn't my cup of tea, it to me represents something the "receiver" doesn't want, and thus an amplification of "rape".

Oh dear, who knew i'd ever explain the anatomy of metaphorical "rape".

BTW: Fuck you.

P.S.: OH I SEE. You just instaupvoted yourself, and then junked my post. So, this is just another troll post.... dammit, why did i spend any effort on replying to this bullshit?

Fri, 06/01/2012 - 16:38 | 2485854 loftgroovv
loftgroovv's picture

A technicality, but its the "Eurozone" that is fucked..

Much of Europe will be ok. Take the British.... even if the whole world starts to burn they will be like Nero playing the fiddle and working out the next scheme. Clever lot they are.

But if you live in Greece, Ireland, Spain, Portugal, Italy....well yes, you're probably fucked.

Fri, 06/01/2012 - 21:55 | 2486612 Kiss My Iceland...
Kiss My Icelandic Ass's picture

UK OK ? I don't *think* so ...

Fri, 06/01/2012 - 16:49 | 2485923 LeonardoFibonacci
LeonardoFibonacci's picture

Even Simple Jack knows you never go "Full Retard"!!!

Fri, 06/01/2012 - 17:19 | 2486034 Augustus
Augustus's picture

The Euro Land banks are trying to play the same game as the deadbeats who refinanced the equity from the homes and spent it.  The only thing they need now it the address to put on the Jingle Mail envelope.  It looks as if Germany may refuse to take delivery.  How about you?

Fri, 06/01/2012 - 17:24 | 2486056 beaker
beaker's picture

Gold and Tsys spikes sure feels like there could be a surprise over the weekend.  EU withdrawal restrictions, anyone?

Fri, 06/01/2012 - 18:08 | 2486159 Ben Dover
Ben Dover's picture

Time to give them a medal and a hug?

Fri, 06/01/2012 - 18:14 | 2486169 TWSceptic
TWSceptic's picture

Fuck you, at least we are not retarded enough to think we can print our way to prosperity like you in the US.

Fri, 06/01/2012 - 16:17 | 2485724 midtowng
midtowng's picture

Gold shorts had their faces ripped off today. This was a short squeeze move, so don't expect it to last past Monday.

Fri, 06/01/2012 - 16:25 | 2485756 bdc63
bdc63's picture

A short squeeze in a down market where the dollar is rallying and all other commodities (save for Silver) were getting crushed ... I don't think so ...

Fri, 06/01/2012 - 16:40 | 2485857 EL INDIO
EL INDIO's picture

Longs have been fucked on the way down and now the shorts have been fucked on the way up.

That’s how the bullion banks extract money.

They milk the cows !

Fri, 06/01/2012 - 16:41 | 2485861 MassDecep
MassDecep's picture

Ya gotta remember who is pulling the strings????

An unlimited "created" money supply wants PM's in order.

They will manipulate to the Bitter end!

Fri, 06/01/2012 - 16:25 | 2485770 junkyardjack
junkyardjack's picture

That's what it seemed like but Gold has been showing a bottoming out for a little bit.  Its worth throwing a position on and seeing where it goes

Fri, 06/01/2012 - 18:44 | 2486245 Bay of Pigs
Bay of Pigs's picture

Who the fuck are you kidding? LOL...speaking of the "deer in headlights".

Fri, 06/01/2012 - 16:26 | 2485780 Dr. Engali
Dr. Engali's picture

Any pain the morgue feels is good with me. I'd like to see their faces get ripped off on a few more trades.

Fri, 06/01/2012 - 16:33 | 2485825 EL INDIO
EL INDIO's picture

I agree with midtowng

Short squeeze triggered by expectations of new QE.

I prefer to wait until it is actually announced rather than speculate about.

If they do, the place to be would be Silver.

Fri, 06/01/2012 - 22:10 | 2486638 midtowng
midtowng's picture

It's still a gold bull market, but today's move was too large and fast to be anything but a short squeeze.

  Monday will probably be a good day for gold as well, but Tuesday is probably another story...unless we get new news out of Europe.

Fri, 06/01/2012 - 16:37 | 2485832 CPL
CPL's picture

Real gold cannot be shorted, paper gold sure, there's LOTS of a paper gold. 


Just not so much of the real stuff.  Besides shorting requires margin and I believe those are nearly gone now across the planet when approaching oil or gold now.  What retard would short themselves?   That's why the market stalled out, no volume, and since the "smart" money is hold all of the worthless paper, not some of the worthless paper, they've bought most of it with no suckers to sell to. 


Only way out now is to print like no tomorrow, keep the market floating...Robotrader mentioned years ago about Dow 36000, as much as he's a permabull ass, it was an insightful point.  That's their mindset.  Nothing must stop, everything is exponential, growth at any cost to impress on nobody but that they have the power.  That's it, that all, want to hold your wealth? 

I can't point out a a specific route but silver, gold, oil, food.  If you don't think you are not in the position for the first three by whatever fate, or question it's certainly, be assured that seed will be something worth trading.  It cheap and really easy to find right now.  Wait until transport companies start to go bust because of a million reasons now, it will be tricky to find seeds, sometimes a man really needs to grow a good beef steak tomato and kindey beans to supliment a more than likely meatless diet.  Get a couple of 100 water containers and fill them up.  Small investment...small and eventually you'll use them for something, no lose situation buying them.  Lots more downside if you don't.


Fri, 06/01/2012 - 19:19 | 2486333 disabledvet
disabledvet's picture

one problem here: "it did stop." so... "now what"? starve them out? bring them to their knees? make them "Cry Uncle"? At this point in the debt "supercycle" it would appear the last one seems quite probable. "didn't see that coming" as they say.

Fri, 06/01/2012 - 17:02 | 2485974 Canadian Dirtlump
Canadian Dirtlump's picture

my sense it it wasn't initially a short squeeze but as the day went on a few shorts changed their shitty diapers and bailed in anticipation of things going higher.


The buying opportunities aren't over but the music is slowing down I think.

Fri, 06/01/2012 - 16:18 | 2485733 homersimpson
homersimpson's picture



Fri, 06/01/2012 - 16:22 | 2485762 Tsunami Wave
Tsunami Wave's picture

If you went long VXX or TVIX or UVXY you did well today.. especially if over a 30DMA.

Fri, 06/01/2012 - 16:26 | 2485783 junkyardjack
junkyardjack's picture

That volatility is crazy, good for you if you're able to hold a position in any of those

Fri, 06/01/2012 - 16:29 | 2485793 Tsunami Wave
Tsunami Wave's picture

I'm just playing it "safe" and only sticking with VXX.. but still, I'm grateful and not complaining.

Fri, 06/01/2012 - 17:04 | 2485980 distopiandreamboy
distopiandreamboy's picture

UVXY is better, though tough to hold, especially with these brass balls following me everywhere.

Fri, 06/01/2012 - 16:24 | 2485764 mayhem_korner
mayhem_korner's picture



Does your deer have a name?

We call him "Krugman".

Fri, 06/01/2012 - 16:33 | 2485820 Clueless Economist
Clueless Economist's picture

I don't see the resemblance, get back to me when that deer wins a damn Nobel in Economics.

Fri, 06/01/2012 - 16:40 | 2485853 Ms. Erable
Ms. Erable's picture

If Krugman can win one, why not a deer? At least it can see the headlights.

Fri, 06/01/2012 - 21:59 | 2486615 Kiss My Iceland...
Kiss My Icelandic Ass's picture

Krugman. Obama. The guy who invented the lobotomy. Doesn't take much, I guess ...

Fri, 06/01/2012 - 17:16 | 2486017 fuu
fuu's picture

Get back to us when you're charging your lasers.

Fri, 06/01/2012 - 16:24 | 2485768 kaiten
kaiten's picture

It´s not the deer, it´s the Mayans. And they knew about the coming apocalypse hundreds of years ago. Respect, dudes.

Fri, 06/01/2012 - 16:55 | 2485943 Umh
Umh's picture

Quit wasting your time on the Internet and go party the rest of your life away. You can quit paying your bills and just throw away the bills until the end right?



Fri, 06/01/2012 - 17:13 | 2486009 francis_sawyer
francis_sawyer's picture

Mayans knew about 'beer pong'?... Get right the fuck out of town!

Fri, 06/01/2012 - 16:29 | 2485772 Tsunami Wave
Tsunami Wave's picture

Happy first day of June! It's going to be a long summer for the markets!

Fri, 06/01/2012 - 16:49 | 2485920 world_debt_slave
world_debt_slave's picture

Venison, bitchez!

Fri, 06/01/2012 - 17:03 | 2485978 otto skorzeny
otto skorzeny's picture

good to see the deer back but we need to give it a nickname-how about Timmay or The Bernank?

Fri, 06/01/2012 - 18:03 | 2486147 GubbermintWorker
GubbermintWorker's picture


Fri, 06/01/2012 - 16:13 | 2485690 bmusic
bmusic's picture

Where's the deer?


Edit - Ah!  There he is!

Fri, 06/01/2012 - 16:36 | 2485837 williambanzai7
williambanzai7's picture


Fri, 06/01/2012 - 16:42 | 2485877 midgetrannyporn
midgetrannyporn's picture

That's a deer with head lice.

Fri, 06/01/2012 - 16:44 | 2485885 LongSoupLine
LongSoupLine's picture


Fri, 06/01/2012 - 17:13 | 2486013 francis_sawyer
francis_sawyer's picture

deer pong...

Fri, 06/01/2012 - 17:05 | 2485987 otto skorzeny
otto skorzeny's picture

good-but Hussein Obummer needs to have the rainbow afro and about to be hit by The Choom Wagon

Fri, 06/01/2012 - 20:31 | 2486475 Acorn10012
Acorn10012's picture

Are those Hypno-Frog eyes?

Fri, 06/01/2012 - 17:06 | 2485990 vast-dom
Fri, 06/01/2012 - 16:13 | 2485696 Let them eat iPads
Let them eat iPads's picture

It's that time of the year again.

Fri, 06/01/2012 - 16:24 | 2485771 fuu
fuu's picture

Goes well with venison and a nice chianti.

Fri, 06/01/2012 - 19:26 | 2485785 Tsunami Wave
Tsunami Wave's picture

I prefer it with muscato &

Fri, 06/01/2012 - 16:30 | 2485800 midgetrannyporn
midgetrannyporn's picture

venison liver with some fava beans

Fri, 06/01/2012 - 16:36 | 2485845 Badabing
Badabing's picture

back straps yum

Fri, 06/01/2012 - 16:14 | 2485698 xtop23
xtop23's picture

Time to raise margins again.

Grab your ankles.

Fri, 06/01/2012 - 16:16 | 2485705 sitenine
sitenine's picture

Let them be raised.  That's what we want.

I'm not afraid to buy more cheep PM.  What I'm afraid of is that time is running out to do so.

Fri, 06/01/2012 - 16:24 | 2485763 YC2
YC2's picture

Rosenbergs bonds-gold barbell is kicking some ass lately, esp on a relative basis.

Fri, 06/01/2012 - 16:33 | 2485826 CommunityStandard
CommunityStandard's picture

+1  I'm late to the PM game and want more time!!!  But guns and ammo must come first.

Fri, 06/01/2012 - 16:48 | 2485906 CPL
CPL's picture

Learn fletching and bow making, you'll figure out the archery part fucking around.


Get a couple of 100 gallon tanks and fill them with water.




Cheap cheap cheap investments.

Fri, 06/01/2012 - 17:06 | 2485991 otto skorzeny
otto skorzeny's picture

learn felching? that might come in handy @ the FEMA camp

Fri, 06/01/2012 - 17:50 | 2486117 CPL
CPL's picture

Never go ass to mouth.

Fri, 06/01/2012 - 17:26 | 2486060 El
El's picture

Don't forget the food and water, too!

Fri, 06/01/2012 - 16:13 | 2485702 HelluvaEngineer
HelluvaEngineer's picture

Margin Call Monday, Bitchez

Fri, 06/01/2012 - 16:14 | 2485703 lizzy36
lizzy36's picture

FIRST 2012 appearance.

Welcome back

Your dreams were your ticket out of here.

Welcome back

To the same old place you laughed about

Fri, 06/01/2012 - 16:17 | 2485717 Let them eat iPads
Let them eat iPads's picture
Well the names have all changed since you hung around,
But those dreams have remained and they're turned around.

Fri, 06/01/2012 - 17:08 | 2485994 Sock Puppet
Sock Puppet's picture

Names have all changed but still the same old users. 

Fri, 06/01/2012 - 17:14 | 2486019 francis_sawyer
francis_sawyer's picture

up your nose with a rubber hose...

Fri, 06/01/2012 - 16:22 | 2485758 william shatner
william shatner's picture

I'm now waiting for the 'It's on like Donkey Kong-post' and then we're finally back to reality.

Fri, 06/01/2012 - 16:16 | 2485709 Randall Cabot
Randall Cabot's picture

Art Cashin finally got one right, he says India is falling into the sea:

Fri, 06/01/2012 - 16:22 | 2485751 Nid
Nid's picture

"Simon" is a dick with ears.

Fri, 06/01/2012 - 16:33 | 2485823 chump666
chump666's picture

he is an old school legend.  forget greece they are a waste of f*cking time. every trader in world should be watching india and china...spain for a total bank collapse.

america for inflation as rates collpase sans asia buying usds doomsday style.  

CBs will start to lose control...of everything.

Fri, 06/01/2012 - 16:15 | 2485712 Canadian Dirtlump
Canadian Dirtlump's picture

Well shit fuck.. I'll hope for the normal tuesday drive by shooting on Silver in wait for payday next friday to get a tube of whatever moves me.

Giggolo James Turk said to expect volatility both ways like a top wobbling as it slows down.

Grab your helmet before you grab your ankles!

Sat, 06/02/2012 - 00:01 | 2486749 Freddie
Freddie's picture

What are you saying?  Is this in Canadian?

Fri, 06/01/2012 - 16:16 | 2485713 Sabibaby
Sabibaby's picture

Don't be afraid of the light as it moves toward you with healing energies... just stand and stare directly into the light...

Fri, 06/01/2012 - 16:28 | 2485792 Undecided
Undecided's picture

They all float down here Georgie.

Fri, 06/01/2012 - 16:31 | 2485809 midgetrannyporn
midgetrannyporn's picture

Stare into the deadlights.

Fri, 06/01/2012 - 16:16 | 2485715 Vincent Vega
Vincent Vega's picture

Bernanke's magical words for his next QEing: It's for the children.

Fri, 06/01/2012 - 16:19 | 2485732 battle axe
battle axe's picture

Vincent Vega: That was a good one. Made me laugh....

Fri, 06/01/2012 - 16:27 | 2485787 SomebodySpecial
SomebodySpecial's picture

I'm counting on it. What else is there to live for?

Fri, 06/01/2012 - 16:16 | 2485721 Nawaralsaadi
Nawaralsaadi's picture

What stands out today is a rising euro, lower spanish/Italian/french yields and strengh in some spanish bank names like STD. The market seems to signal that Europe is ready to act soon; poltically the germans are getting more isolated and it seems the market is expecting them to blink, and now with the US getting pulled down, US pressure on Germany has gone up another notch. This doesn't mean we will have a long term solution, but there could be a sharp short term rally in the next couple of weeks.



Fri, 06/01/2012 - 16:21 | 2485745 CommunityStandard
CommunityStandard's picture

Expectations are up.  Reality will still be down.  Waiting for the headline: "STD contagion spreads across Europe"

Fri, 06/01/2012 - 16:37 | 2485840 credittrader
credittrader's picture

Spain/Italy looked more like marginal bid was basis traders and financial pairs traders today - wouldn't get excited about it. Euro strength could be more repat flows. Agree always a chance of snap back here but credit weakness pretty gnarky across Europe and US

Fri, 06/01/2012 - 17:22 | 2486048 SPAREPARTS
SPAREPARTS's picture

if the nothern countries buy americas leadership there going to be destoyed, better to be harmed and survive to make a living another day

Fri, 06/01/2012 - 16:16 | 2485722 bdc63
bdc63's picture

Well, the fun is over for this week ... time to just sit back and wait to see what kind of shananigans they pull over the weekend.  I suspect Asia's open Sunday evenig is going to be UGLY.

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