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EcoFin Meeting Cancelled, Euro Plunges

Submitted by Tyler Durden on 10/25/2011 09:39 -0400

As we warned an hour or so ago... Euro plunges.

But fear not:

EU LEADERS' SUMMITS WILL TAKE PLACE TOMORROW, U.K. SAYS

Of course, if there was no Eurosummit, the EURUSD would be at parity...

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Tue, 10/25/2011 - 09:40 | 1807806 Fips_OnTheSpot

BOOOM!

Tue, 10/25/2011 - 09:48 | 1807859 French Frog

What are the odds that they 'un-cancel' in the next few hours?

Tue, 10/25/2011 - 09:58 | 1807915 Iriestx

Guardian is already printing the rumor that it's been uncanceled. Expect EURUSD to pop on it.

Tue, 10/25/2011 - 10:04 | 1807939 gmrpeabody

But.., but..,why isn't gold getting smacked down?

Tue, 10/25/2011 - 15:46 | 1809641 Djirk

nice headline, but it's back up again...you short the EUR?

EUR/USD has been going up all month despite all the EUR propaganda????

Not saying that will continue but this was hardly a plunge.

Tue, 10/25/2011 - 10:03 | 1807935 Mike2756

http://youtu.be/71vqGyWTs3c

Tue, 10/25/2011 - 10:11 | 1807969 scatterbrains

oh that was good, they staged the meeting cancelation to front run the shitty confidence numbers and then try to cushion the bad news with the steve the stooge liesman breaking news on the re-meeting. I hope it backfires and bitches panic the fuck out of the market.

Tue, 10/25/2011 - 09:49 | 1807865 ralphcore

EU Leaders’ Summits Will Take Place Tomorrow, U.K. Says

-yawn

Tue, 10/25/2011 - 09:50 | 1807874 Mike2756

fin is seperate from the summit.

Tue, 10/25/2011 - 09:57 | 1807903 falak pema

its all Cameron's fault. He wants tea and they only serve coffee at euroconferences.

Tue, 10/25/2011 - 10:22 | 1808044 dearth vader

and he hates the berluscones that come with it.

Tue, 10/25/2011 - 09:49 | 1807866 gojam

They are like zombies. They are the walking dead and yet they keep on coming.

Tue, 10/25/2011 - 10:35 | 1808115 Tramp Stamper

shoot them in the head

Tue, 10/25/2011 - 11:05 | 1808284 Rubicon

Im glad you didnt say "brain"

Tue, 10/25/2011 - 09:52 | 1807879 Oh regional Indian

Is it just me, or does this feel A LOT like the fractious hand-wringing, will they won't they storyline played out on teh American Debt Ceiling Deal just 2 months ago? Just a different cast of characters.

Perhaps the same pattern will play out... Like August 4th, huge down day, then, a weekend rescue plan, then some more can kicking. Just a different cast of characters.

In a fractal world.. looks like we are winding into the singularity ever faster.

ORI

Toroidal Vortices and Nuclear Echoes

Tue, 10/25/2011 - 10:02 | 1807933 ElvisDog

I agree. Similar to the U.S. debt ceiling Kabuki, I think there is a 0% chance that the EU meeting will end without some sort of announcement of a new Grand Plan to solve the situation. Or maybe it will be a Plan to Have a Plan. But they will come out with something.

Tue, 10/25/2011 - 10:06 | 1807954 AbelCatalyst

It's like friggin Groundhog Day EVERYDAY!! The pressure is building each time the can moves down the road...

There comes that moment in Chess late in the game when you can see the last 4 of 5 moves and you look over and wait for your opponent to see it too... Then all of a sudden the light goes off and he resigns... The EU is frantically moving their chess pieces around, becoming more desparate, but Mr Market a patiently letting the inevitable unflold, waiting for the light to go off... Sometimes the novice chess player does not see the last 4 or 5 moves, sometimes they don't see it until the final move - check mate!!

Tue, 10/25/2011 - 10:18 | 1808010 i-dog

It's a little different, ORI: Congressional charades are just congressmen holding out for more pork and tribute...entirely predictable that they'll fold when the last vote has been bought with a trinket (like, a bridge to nowhere) and a cheque (from the next designated lobbyist on the roster). Whereas, in the case of Europe, each representative has a more direct connection with their very different electorates and the funds to buy each of them off must be passed through a different jurisdiction. Very complicated. ;)

It's further complicated in Europe by old (outdated) ideologies ... with the protestant, but largely atheist and pragmatic, north and the orthodox east lined up against the free-spending roman catholic south. France, as always, is the noisy kid that starts the fight but has never won one yet.

I hope that explains it. :)

/cynicism

Tue, 10/25/2011 - 10:57 | 1808239 old naughty

i-dog, good summary. Thanks for sharing.

Tue, 10/25/2011 - 11:59 | 1808544 Oh regional Indian

Hah. Indeed i-dog. Maybe that's why I said fractal world.

This is not a two-dog howl-out, it's a 22 dog howl-out.

Rather cacophonous.

ORI

Tue, 10/25/2011 - 10:20 | 1808032 SheepDog-One

Well remember what happened after the big runup to the US debt ceiling 'resolution', they ran it up to DOW 12,700, then while everyone was expecting a huge ramp (RoboTrader) what we saw was DOW 10,700 shortly thereafter.

Tue, 10/25/2011 - 09:52 | 1807886 scatterbrains

so that /es breakout on really shitty volume yesturday is about to fail ?

Tue, 10/25/2011 - 09:41 | 1807808 danger close here

but they promised

Tue, 10/25/2011 - 09:44 | 1807840 HelluvaEngineer

I was supposed to get a pet unicorn!

Tue, 10/25/2011 - 12:15 | 1807981 The Limerick King

The unicorn world is upon us

With Kleptocrats trying to con us

Where truth comes to die

And ALL leaders lie

And Geithner is viewed as Adonis

Tue, 10/25/2011 - 10:35 | 1808113 Zero Debt

And all I got was this lousy haircut that isn't even finished

Tue, 10/25/2011 - 13:52 | 1809128 Oh regional Indian

Haha, funnily enough, in the Navy, the barber did not stop till we had a Zero Cut.

ORI

Tue, 10/25/2011 - 09:41 | 1807809 homersimpson

Finally! Time to recoup on FAZ... damn that artificially strong Euro..

Tue, 10/25/2011 - 09:57 | 1807908 AbelCatalyst

I know!! After yesterday I was about to fogetaboutit!! This market will drop (absolutely no doubt in my mind), but not sure I can hold on long enough!! Every week is like a Chinese drip torture!! AHHH!! The white towel is in my hand and my guy (ETF's) is on his last legs - he's already been knocked down twice (with a three knockdown rule in effect)...

Ah, the life of a shorty-Bear!!

Tue, 10/25/2011 - 10:05 | 1807945 homersimpson

When I get pummeled via FAZ, I keep remembering how FAZ was priced in the high 4 digits at one time (accounting for reverse splits, etc.), so I keep gritting my teeth and keep taking the punishment until 2008 repeats again..

Of course, I pick my spots on when to go in on FAZ.. it's suicide to hold this long term.

Tue, 10/25/2011 - 10:11 | 1807977 AbelCatalyst

I've been trying to avoid market timing by dollar-cost-averaging into FAZ, YANG, EUO, and TZA each month... Not sure if it is the best way, but if your "high 4-digit" thing comes to pass I should be just fine!! White knuckle time baby!!! Thanks for your support - I feel like a crazy man on an island sometimes!!

Tue, 10/25/2011 - 10:17 | 1808012 homersimpson

FAZ is like the storm/boat scene from Forrest Gump. About every ship gets slaughtered during the storm.. but if you can somehow hold on to your ship (read: money) when the storm ends (or is storm starts in financial terms?), you'll be rubbin' yourself with $100 bills at night for a very VERY long time..

Tue, 10/25/2011 - 10:24 | 1808041 gmrpeabody

Remarks pulled out of pity and respect.

Tue, 10/25/2011 - 10:20 | 1808035 Odin

Feel your pain, I loaded up on FAZ and TZA before this hopium rally....we'll be vindicated soon though....just make sure you dump at the top...

Tue, 10/25/2011 - 12:44 | 1808763 hyperbole2000

Today's pop in FAZ is the 4th wave and tommorrow's drop will be a truncated 5th wave (close above 43.5) to conclude wave 2 with the 5 wave C of the flat within the zig zag flat combo comprising the 2 wave. Thursday the 3rd wave blast off ignites and the triple digit launch to the moon begins.

Tue, 10/25/2011 - 09:41 | 1807811 DormRoom

hey look they finally agreed on something: cancellation is better than quixotic negotiating.

Germany exit by New Years.

Tue, 10/25/2011 - 09:43 | 1807822 GeneMarchbanks

Good, let's hope so. The entire farce has been seemingly endless.

Tue, 10/25/2011 - 09:41 | 1807812 PAPA ROACH

LMFAO!

"...I'm sexy and I know it..........I work out..."

Tue, 10/25/2011 - 09:42 | 1807813 Hansel

This is bullish. Now they can schedule a meeting for next week that everyone can hurry up and wait for.

Tue, 10/25/2011 - 09:44 | 1807830 hackettlad

Yup - I can see it being priced in now on CNBC - "Dow rises 400 on Eurozone hopes".

Seriously, I get the feeling you don't actually have to DO anything, just promise to do it seems enough.

Tue, 10/25/2011 - 10:13 | 1807987 AbelCatalyst

You can only call wolf so many times... Love those simple little childhood lessons!!

Tue, 10/25/2011 - 09:42 | 1807815 DeadFred

You know they were going to say nasty things so cancelling is bullish, right?

Tue, 10/25/2011 - 09:57 | 1807907 infinity8

well, if you don't have anything nice to say. . .

Tue, 10/25/2011 - 09:42 | 1807816 monopoly

LOLOLOL...What a bizarre circus. Just like our govt. and leaders they too have no adults in charge.

Tue, 10/25/2011 - 09:44 | 1807826 Chief KnocAHoma

For those of you wishing to escape Europe to Red State America:

www.blackpineslakehome.com

Tue, 10/25/2011 - 09:47 | 1807853 youngman

Nice house....good buy or not...???

Tue, 10/25/2011 - 09:55 | 1807893 Chief KnocAHoma

A good buy yes. 4 br 4.5 bth down the road just sold for 1.6 million

Tue, 10/25/2011 - 10:01 | 1807925 breezer1

when i was young i enjoyed knocking homos around til i found out they were good fucks, now i just do home viewings for the fun of it.

Tue, 10/25/2011 - 09:52 | 1807881 fuu

Can I get that for $100 and a 203k loan?

Tue, 10/25/2011 - 09:57 | 1807901 HelluvaEngineer

Are you seriously on here pimping your shitty real estate?

Tue, 10/25/2011 - 10:00 | 1807919 Chief KnocAHoma

Yes... douche bag. We all got to make a living.

Tue, 10/25/2011 - 10:09 | 1807949 GeneMarchbanks

Leave Europe for Red State America?! EU collapse will be good for Europe in the long run meanwhile the US unwind hasn't even begun. But you're right, there must be some Europeans willing to live in rural Georgia...

... I'd get in touch with Athenians if I was you.

Tue, 10/25/2011 - 10:06 | 1807953 kaiserhoff

I'll bid $1.39

Tue, 10/25/2011 - 10:24 | 1808050 Spastica Rex

Male prostitution is always an option, you midnight cowboy, you.

Tue, 10/25/2011 - 10:57 | 1808238 Chief KnocAHoma

Tried it. But the chief no like fat chicks or fags like you ass pirate.

Tue, 10/25/2011 - 10:01 | 1807923 Comay Mierda

I got some good deals to pimp for you, this will help ease the stress of dealing with broken markets

http://bride.ru/

Tue, 10/25/2011 - 09:42 | 1807817 lizzy36

Awesome.

Who would have thought that 17 EU dopes couldn't get together for anything but a bunga bunga party.

Markets took an elevator up, and going to take the express elevator back down.

Tue, 10/25/2011 - 09:44 | 1807839 SheepDog-One

Handicap escalator up...express service elevator to basement down.

Tue, 10/25/2011 - 09:55 | 1807894 Oh regional Indian

SDI, priceless wit!

Thanks for the laughs.

ORI

Tue, 10/25/2011 - 11:22 | 1808377 Odin

Exactly...Nuff said.

Tue, 10/25/2011 - 09:42 | 1807818 TooRichtoCare

Wow...pretty brief plunge!

Tue, 10/25/2011 - 09:44 | 1807837 PAPA ROACH

Skynet is still on the BTFD mode, needs a manual switch to STFR mode.

Tue, 10/25/2011 - 20:35 | 1810548 StychoKiller

So, when ya gonna try a run in politics? Or is that too easy for you cavemen? :>D

Tue, 10/25/2011 - 09:43 | 1807820 YesWeKahn

free fall, MFS

Tue, 10/25/2011 - 09:43 | 1807821 Larry Darrell

Reality re-appears.

Tue, 10/25/2011 - 09:43 | 1807824 SheepDog-One

I'd far rather be rebuilding from the ashes than watching this clownshow sputter and herk and jerk along every day.

Tue, 10/25/2011 - 09:46 | 1807848 fuu

It's undignified.

Tue, 10/25/2011 - 10:37 | 1807963 ElvisDog

But think about it from the EU ministers point of view. The more and longer meetings they have, the more time they get to spend in $1000 Euro per night hotels eating in 5-star restaurants all on the EU expense account. Being an EU minister is the best job ever. Do nothing, get treated like royalty.

Tue, 10/25/2011 - 09:43 | 1807827 youngman

They could not get the caterers lined up......so sad when food goes bad...

Tue, 10/25/2011 - 09:47 | 1807831 falak pema

Now its the intrafighting : the 17 vs the 10 who are NOT euro slaves...but europeans peeking in into Euro bunga binge.

Its Cameron and the Poles who want to see Berlu's bunga pole! What is he doing with it ...?

We don't trust him. He could shaft us all!

Fellas, this is Shakepearean drama...Berlusconi is shaking his spear...once more into the breach dear friends...Ruby, not far away to get briefed on her breach policy CDS.

Tue, 10/25/2011 - 09:44 | 1807832 defn8Dog

Is this in the algo models?

Tue, 10/25/2011 - 09:44 | 1807833 RobotTrader

Bye-Bye Risk Assets..........????

Tue, 10/25/2011 - 09:46 | 1807849 HelluvaEngineer

do shut up

Tue, 10/25/2011 - 09:47 | 1807856 fuu

NFLX at 74.71.

Tue, 10/25/2011 - 10:25 | 1808059 Spastica Rex

That's good, right?

Tue, 10/25/2011 - 10:49 | 1808192 fuu

Maybe.

Tue, 10/25/2011 - 09:44 | 1807834 Yamaha

The market wil be up again................at teh end of the day.

Tue, 10/25/2011 - 09:45 | 1807843 SheepDog-One

Right....even when bankers take 60% haircuts, stocks will still be up, because all that matters is bubble fantasy stocks.

Tue, 10/25/2011 - 09:46 | 1807847 Larry Darrell

Very poor coordination by TPTB. This headline wasn't supposed to be released until 4:05 EST.

Tue, 10/25/2011 - 09:44 | 1807836 Thunder_Downunder

Wait Wait!!

They've changed their minds!

This is what governing by 'market forces' boils down to...

Tue, 10/25/2011 - 09:45 | 1807841 TradingJoe

BTFD?!?! :))))

Tue, 10/25/2011 - 09:47 | 1807851 Johnny Lawrence

Who knows what will happen to the market now...perhaps the "Stay of Execution" rally continues. Market might like the postponement.

Tue, 10/25/2011 - 09:47 | 1807854 Fish Gone Bad

Bullwinkle says to Rocky, "Watch me pull a rabbit out of my hat."

http://www.youtube.com/watch?v=kRW7pITY5Cg

Tue, 10/25/2011 - 09:50 | 1807871 SheepDog-One

I think theyre fresh out of rabbits.

Tue, 10/25/2011 - 10:26 | 1808064 Spastica Rex

Time to get a new hat.

Tue, 10/25/2011 - 09:47 | 1807855 0cz

Time for the banksters to Occupy a copy of a Tale of Two Cities.

Tue, 10/25/2011 - 09:48 | 1807857 YesWeKahn

Robo will tell you that this is a dip.

Tue, 10/25/2011 - 09:48 | 1807861 Johnny Lawrence

And here's the bounce. Incredible.

Tue, 10/25/2011 - 09:48 | 1807862 Paralympic Equity

Bid that shit up, fast

Tue, 10/25/2011 - 09:48 | 1807863 DaBernank

"Hell, who cares about currencies? NFLX to the mooooooooooon!" -- RoboTrader

Tue, 10/25/2011 - 09:49 | 1807864 common_sense

Strange, because EU representants are talking with economists from Somalia and aliens from Andromeda to bailout Italy and Greece if necessary.

So, everything is going fine.

Maybe it's a misunderstanding because alien language is not so easy to translate... closed to chinese apparently. Oh yesss! Chinese also are around...

Tue, 10/25/2011 - 09:49 | 1807867 hackettlad

The Sun reports that meeting back on, timed not to clash with this week's X Factor.

Tue, 10/25/2011 - 09:49 | 1807870 Gandalf6900

they have no fucking idea

Tue, 10/25/2011 - 09:51 | 1807875 SheepDog-One

Nope, all they ever had was carrots and sticks....haircut time at the guillotine.

Tue, 10/25/2011 - 09:50 | 1807872 defn8Dog

Someone's buying bonds: Greece 1 and 2 yrs, France and Belgium 10s are moving.

Tue, 10/25/2011 - 09:52 | 1807880 SheepDog-One

What, with the hope theyll be paid back?

Tue, 10/25/2011 - 10:07 | 1807957 Honey Badger

The only entities buying Greek debt at this point are doing so for policy reasons, not investment reasons.

Tue, 10/25/2011 - 10:15 | 1808000 jcaz

Closing up short positions, more likely- there is not real ask on that paper anymore.

Tue, 10/25/2011 - 10:02 | 1807929 falak pema

Its Carla she's buying it for Giulia's future.

Tue, 10/25/2011 - 09:51 | 1807876 Fips_OnTheSpot

60pts rebound in the DAX already -- damnit, that hopium drives fast up the brainz.

Tue, 10/25/2011 - 09:51 | 1807877 The Onion Of Tw...

David Gow (The Guardian reporter who gave us one of last week's Big Rumors) has got a nice bit of color on last Saturday's Eurozone leader's meeting:

After a two-hour delay caused by Cameron's stand-up row with Sarkozy, eurozone leaders finally got down to business...and discussed everything but the EFSF, bank recaps and Greek haircuts... Iveta Radicova, the outgoing Slovak premier, got up and said: "When are you going to start talking seriously. Because, if you aren't, I'm off out for a cigarette." And out she went.

Tue, 10/25/2011 - 09:52 | 1807885 Johnny Lawrence

That sounds kinda hot.

Tue, 10/25/2011 - 11:02 | 1808276 Demologos

Is a Greek haircut like a Brazilian ... only at the other end?

Tue, 10/25/2011 - 09:52 | 1807878 RobotTrader

Well, that scare didn't last very long.

Market took off after recording a -1403 TICK.

Now we can resume "regular programming".

Masco and Sherwin Williams now taking off, anticipating another housing boom.

Tue, 10/25/2011 - 09:54 | 1807890 SheepDog-One

Oh wow they got it fixed? Gee thats really great robo. But what do you care? Your paper trades were down?

Tue, 10/25/2011 - 09:54 | 1807891 Johnny Lawrence

For someone who apparently subscribes to the IBD investment philosophy, doesn't it all worry you that IBD-50 type stocks have underperformed this rally significantly?

Tue, 10/25/2011 - 10:01 | 1807926 Everybodys All ...

Does this kind of stuff happen in bull markets? /sarc

Tue, 10/25/2011 - 10:31 | 1808094 Spastica Rex

All markets are bull markets.

Tue, 10/25/2011 - 10:11 | 1807979 The Axe

I see my BOY, Email Johnny Corzine is doing a bang-up job at MF Global....First Bankrupt NJ then MF Global...perhaps CNBC will have the Goldman suckubus on today to announce his run for president.....lol

Tue, 10/25/2011 - 10:13 | 1807983 ElvisDog

Read the post by Bruce Krasting at the top. Obama's bold re-fi plan will be another pea-shooter. Besides, a good deal (most?) of the "home improvement" part of the re-fi money will be lost to fraud rather than Sherwin Williams. (e.g. cousin Juan will get $40000 to put new sod down in the back yard)

Tue, 10/25/2011 - 09:52 | 1807884 elcartaro

ve vere going to cancel the cancelled meeting but ve vill plan to plan another meeting at 3:30 your time... ve lift things up to put dem down ja ja...

Tue, 10/25/2011 - 09:53 | 1807887 somethingelse

was this a planned cancellation of a meeting to agree on a plan for the grand plan or an unplanned cancellation of a meeting to agree on a plan for the grand plan? do i even care anymore?

Tue, 10/25/2011 - 09:53 | 1807888 Belarus

If it weren't for HFT machines, this market would be down 5+% today, setting up for a 20+% bitchslap tomorrow.

Tue, 10/25/2011 - 09:54 | 1807889 Cassandra Syndrome

EU Presidency has just confirmed that the EcoFin meeting is cancelled. Should be bullish

Tue, 10/25/2011 - 09:55 | 1807895 LongSoupLine

Euro stick save via ECB (read: US middle class taxpayer) in 3...2....1....

Tue, 10/25/2011 - 09:56 | 1807897 Fuh Querada

Plunging ? a 0.7% drop from 1.3940 to 1.3849 ? Are you shitting us by any chance ? Currently 1.3892.

OKOK it's the 2000:1 leverage, now you can retire.

Tue, 10/25/2011 - 09:56 | 1807899 oceanview76

There is no such thing as bad news for the euity markets. Let the melt-up begin.

Tue, 10/25/2011 - 09:57 | 1807902 RobotTrader

Abercrombie & Fitch still green, close to 3-year highs.

I guess imminent sovereign debt defaults can't stop the consumer from spending $125 on jeans with hundreds of holes in them...

LOL....

Tue, 10/25/2011 - 10:15 | 1808007 ElvisDog

Interesting. Because young people in their 20's living on their own have crappy jobs and enormous student loans. They're more likely to be buying clothes at the thrift store than A&F. Must be the last vestiges of middle class parents giving their spoiled teenage daughters the credit cards to shop there.

Tue, 10/25/2011 - 10:23 | 1808048 SheepDog-One

Robos fixation on A&F assless jeans is quite disturbing.

Tue, 10/25/2011 - 09:57 | 1807904 rajc

thats not a plunge...stop exaggerating. :P

Tue, 10/25/2011 - 09:58 | 1807909 PulauHantu29

Check out NetFlix:

http://finance.yahoo.com/q?s=NFLX&ql=0

plunging another 35% this morning.....looks like the housing market.....

Tue, 10/25/2011 - 09:58 | 1807911 jbc77

Oh my God, these guys are an absolute mess. Can't coordinate press releases was funny enough, now they cancel the "big" meeting. I love how Zerohedge predicts this stuff with deadly friggin' accuracy!!

Tue, 10/25/2011 - 09:58 | 1807912 mogul rider

I remember that feeling in August 2008, I have it again.

USD just may get to par with the Euro this month.

Glad I backed up the Gold truck last month.

It'll get whacked again hard too this week but at least I'll have something the Occupy concentration camp guards will want other than my wife.

Tue, 10/25/2011 - 10:00 | 1807918 lizzy36

They make a cream for that feeling. Just saying.

Tue, 10/25/2011 - 09:58 | 1807913 thunderchief

The Fins want out of the Euro Dream more than the Germans want to Kick the Greeks out of this nightmare.

None of the Scandinavian countries or Finland want to deal with this garbage anymore. They are simply too far north to care. IMO

Tue, 10/25/2011 - 10:00 | 1807917 machineh

Or too damned high (in latitude).

Tue, 10/25/2011 - 10:04 | 1807942 falak pema

nobody likes to lose north or south, high or low. But life in the financial world is zero sum normally, except nowadays in this ponzi its lose-lose.

Tue, 10/25/2011 - 09:58 | 1807914 Archimedes

In other news NFLX is at $75 ... ouch!

Tue, 10/25/2011 - 10:00 | 1807920 HITMAN56

risk off...crude stickin in tough,,,,hmmmm

Tue, 10/25/2011 - 10:01 | 1807924 machineh

Eco-RAT-finks! You broke Da Euro!

Tue, 10/25/2011 - 10:02 | 1807930 Irish66

consumer confidence WOW

Tue, 10/25/2011 - 10:03 | 1807937 machineh

To the bunkers, citizens!

Abandon all hope!

Oops, they already did ...

Tue, 10/25/2011 - 10:02 | 1807931 Edward Beargman

Once they agreed they don't agree, back to the main subject: How big is Sarkie's willy?

Tue, 10/25/2011 - 10:17 | 1808019 ElvisDog

I'm guessing pretty small. He carries himself like someone who gets women with power and money rather than being hung like a horse.

Tue, 10/25/2011 - 10:03 | 1807934 mayhem_korner

Rumor is that the luncheon included bratworst rolled in crepes, a pseudo "pigs in blankets" to try to get Sarkozy and Merkel to warm...apparently it failed and Sarkozy shut down. :D

Tue, 10/25/2011 - 10:29 | 1808079 Ruffcut

"piigs in a blanket" I thought that was a french recipe of turds covered with puke.

Tue, 10/25/2011 - 10:04 | 1807940 John Law Lives

James Galbraith wants MORE spending.

http://finance.yahoo.com/blogs/daily-ticker/u-debt-not-europe-time-spend...

Yet another academian who is out of touch...

Tue, 10/25/2011 - 10:05 | 1807941 RobotTrader

NFLX is stock specific.

COH, ANF, JWN, M, SBUX, WFM, and assorted other retailers are at 3-year highs despite all the "scroom-mongering" on this site.

Anyone who has held on to XRT has made a killing since the 2009 lows, riding through credit market turmoil pretty much unscathed.

GDX holders? Well, that's another story........

"But Jim, you promised!!!!......."

Tue, 10/25/2011 - 10:14 | 1807988 youngman

Consumer confidence is way down...but retailers are way up...go figure...who is buying this crap...and why...shop junkies

Tue, 10/25/2011 - 10:39 | 1808136 Ruffcut

Netshits is specific stock and a shitty one. You need to buy at the lows of mar 2009 to be doing worth a shit. If you held on you have not done so well. If you held yahoo since 1999, you would still be holding on to a cold turd on a shovel.

The market makers love stoopid robotraders.

Tue, 10/25/2011 - 10:06 | 1807952 prodigious_idea

Wonder if the regulators are looking at trades by Guardian employees.

Tue, 10/25/2011 - 10:08 | 1807959 Flakmeister

Anyone else noting that the WTI-Brent spread is collapsing... $16 and dropping as I type..

Note that WTI is rising a lot faster than Brent is falling, giving credence to the idea that WTI was the "wrong" price of the two.

Tue, 10/25/2011 - 10:26 | 1808063 mayhem_korner

But is Brent still the driver of retail? Are we going to see gasoline and distillates go up on WTI, or is that just the trader's commodity?

Tue, 10/25/2011 - 10:57 | 1808237 Flakmeister

Brent will still drive retail.... IMNSHO

The Cushing based refiners are flashing a sell signal.

Tue, 10/25/2011 - 10:09 | 1807961 letitgo

The EURO didn't plunge, risk assets all dropped a bit across the board (hardly surprising after the recent run-up).

Are you deliberately focussing on the euro in usd terms to confuse people (and avoid noting that PMs also dropped against the risk-off USD)? Or are you just so US-focussed that the USD effectively going up with risk-off doesn't seem to register as an independent phenomenon and all you see is euro down?

It would have been more accurate to say that the AUDUSD (a more risk-dependent pair) plunged, because that movement was closer to a plunge than EURUSD. Methinks someone doesn't like and/or is massively short/ underwater on the euro...

Tue, 10/25/2011 - 10:12 | 1807968 firstdivision

If it was a "risk-off" move, WTI would have made the same move.

Tue, 10/25/2011 - 10:31 | 1808095 letitgo

So please enlighten me as to which direction WTI has gone in over the past couple of hours...

Tue, 10/25/2011 - 10:09 | 1807962 firstdivision

Yen is about to be printed really soon.

Tue, 10/25/2011 - 10:10 | 1807964 marcusfenix

the lies/ rumors to truth/common sense ratio has reached a fatal imbalance...

EcoFin Meeting Cancelled, Euro Plunges

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