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Egan Jones Jars Market Out Of Rumor Hypnosis

Tyler Durden's picture





 

While European, US, and commodity markets (ex-Spain) were enjoying the hope/hype of ECB rumors and QE chatter, Egan Jones just burst the bubble, back to reality. Within minutes of their downgrade of Spain, EURUSD was plunging faster than Facebook and along with that cornerstone of correlated risk markets, gold, silver, oil, copper, and US equities had smashed lower.

EURUSD was not happy...as the headline hit BBG (10 minutes after we posted it here)...

 

and commodities reacted...

 

Before all of this reality-checking, our European EOD was thus:

ECB Rumor Pushes Europe Ex-Spain Higher

In the same way that Mrs. Lincoln was unable to enjoy the play, we fear Draghi, Barroso, and Rajoy did not enjoy today's broadly green close in the European markets because of the slow-motion train-wreck that is Spain. The Euro-Stoxx is up 0.6% with the majority of European equity markets up around 1% but IBEX dropped over 2.3% further, Spanish banks plunged dramatically (thanks to Bankia's restatement throwing doubts over pretty much anything not bnailed down in their assets), Spanish sovereign bond spreads leakeds wider and Spanish sovereign CDS pushed to new record wides. Credit and equity markets gave a little back into the close but generally warbled in a narrow range - gapping up at the open.

What's maybe most worrying is that Italian bond spreads started to underperform Spain today - adding 10bps from their tights while Spain only added 4bps

Chart:Bloomberg

 


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Tue, 05/29/2012 - 11:49 | Link to Comment Boilermaker
Boilermaker's picture

When is the break-neck reversal and ramrodding right back up to the highs?  Will it be directly at parity?  I'm taking over / under wagers.  Step right up.

Tue, 05/29/2012 - 11:50 | Link to Comment CvlDobd
CvlDobd's picture

3:24

Wanna go to the strip club while we wait?

Tue, 05/29/2012 - 11:51 | Link to Comment THX 1178
THX 1178's picture

"Plunging faster than facebook" HIYOOOO!!!!

Tue, 05/29/2012 - 11:53 | Link to Comment Boilermaker
Boilermaker's picture

Was...now back to your regularly scheduled pump job.

Tue, 05/29/2012 - 12:13 | Link to Comment Max Fischer
Max Fischer's picture

 

 

......correlated risk markets, gold, silver, oil, copper, and US equities had smashed lower.....

 

Ahhh.... the truth comes out!  Gold IS a risk asset.

http://www.kitco.com/charts/livegold.html

Yep.... sure is...

I thought everyone was suppose to flee to gold when fiat currencies collapse?  It seems every time there's financial chaos, gold goes DOWN, which is the EXACT OPPOSITE of everything the doomer goons believe.  

*LOL*

MF 

Tue, 05/29/2012 - 12:27 | Link to Comment Joe Sixpack
Joe Sixpack's picture

I think people ran to it BEFORE it happened as insurance. When it happened they liquidated to pay off losses, but with the boost they had from gold's increase. This is a short term blip.

Tue, 05/29/2012 - 13:00 | Link to Comment Thomas
Thomas's picture

More to the point, everything is a risk asset. No place to hide.

Tue, 05/29/2012 - 12:30 | Link to Comment dbomb12
dbomb12's picture

Thats it, lets all follow the crowd and not pay attention to China and Russia loading up on gold to eventually back their currency. Lets all invest in the Almighty worthless dollar, treasuries and falling real estate that will give a HUGE ROI.

Tue, 05/29/2012 - 12:33 | Link to Comment fuu
fuu's picture

All the way back to 1553!

Tue, 05/29/2012 - 12:38 | Link to Comment Al Huxley
Al Huxley's picture

If the market chooses to discount insurance as a crisis unfolds, then I'll take that discount thanks.  Equivalent of having flood insurance being marked down in New Orleans as Hurricane Katrina rolled in off the Gulf. 

Tue, 05/29/2012 - 12:53 | Link to Comment SWCroaker
SWCroaker's picture

You're an idiot, and ZH really, really needs an ignore button.

 

Here; let me play at being Maxie Fisher:

"My friends, let us postulate an investment, called miraculum.  I tell you three times, people, miraculum is a SAFE HAVEN.  Normally thought to be mythical, SAFE HAVENs have the property that they never drop in price! Particularly during times of uncertainty or distress.  It is TRUE!.  People can collectively store wealth in miraculum en masse, and when they pull wealth out, it has no effect on price!

Oh wait.  Oh my!  Bad times came and poor miraculum didn't act like a SAFE HAVEN after all!  I guess it is really just a POS pretending to be a SAFE HAVEN!  Aren't you all idiots for every buying miraculum!   *LOL*"

 

The technique is known as "straw man", Maxie.  The "safe haven" aspect is an easily deflatable claim to superiority that Gold never made, but in fact YOU adopted (I'm sure out of kindness) on Gold's behalf.  Using straw men to demonstrate your superior position is lame, childish, and likely only to have effect on weak minds.  (You're in good company; your idol P. Krugman does it all the time.)  Is that really the best you've got?

Facts: There is no miraculum.  SAFE HAVENs don't exist in the world of investments.  If they did everyone would own them.  And (physical) GOLD merely represents a counterparty risk-free option for wealth preservation; accepted as fungible wealth world-wide by people who matter when IT really counts; proven to get the job done handsomely throughout the ages; publicly hated by the con men that own and run the world; yet secretly coveted by almost all.  It is The odds-on favorite to be one of the few things still standing after our current Tower of BS eventually collapses under its own weight.

 

Please mature or mute.  (I'm dreaming).  Or...  continue to do your best to shoo people away from one of their best options during these time.  I suppose there's nothing like being a happy cog in the world's MOPE machine.

Tue, 05/29/2012 - 13:07 | Link to Comment Max Fischer
Max Fischer's picture

 

 

That's quite a response for someone wanting an ignore button.  I thought libertarians were staunch protectors of freedom of speech and everything else the Constitution guarantees?  Oh, yes, I forgot... only when it serves their own self-interests.      

My point is simple: the central thesis of the doomer goons - gold is a safe haven - has repeatedly been proven to be FALSE.  This is central to doomer goon ideology.  This is NOT a strawman made up by me this morning. 

MF

 

 

Tue, 05/29/2012 - 13:15 | Link to Comment SWCroaker
SWCroaker's picture

Free speech for all, yes.  Implied wisdom for all; hardly.  Freedom from repercussions for spouting idiocy, um, Maxie, you need to go over those libertarian tenents again.  We are *all* about failure when merited, and thus the freedom for all to fail spectacularly.

PS.  "Ignore" and "mute" allow ME to conveniently avoid YOUR drivel.  They do nothing to stop you from driveling.  It is Telling that someone who wants to clap his hands over his ears in your presence is somehow violating YOUR rights.

Tue, 05/29/2012 - 13:33 | Link to Comment Fukushima Sam
Fukushima Sam's picture

Gold's time has not yet come.

Tue, 05/29/2012 - 13:43 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Max, Max, Max.   Tisk tisk.

 

The 'doomers' ALSO say that they are not interested in the paper gold (i.e, Comex future market, london future market) price of gold.   The doomers are PHYSICAL buyers and are holding gold because the paper gold price is a fraction reserve price which SIGNIFICANTLY understates the the rarity of gold.

Gold is a hobby horse of mine too.   I love accumulating on these price swings DOWN (please tell me you never buy your favorite asset as prices go up).   I believe that the paper price of gold and silver is vastly understating the rarity too.

 

I might be wrong, but since we haven't had a currency crisis yet, the jury is still out.   It seems like we're heading into one and lots of doomers wll be patient and continue to accumulate.    Seems like a winning strategy for the last 12 years.  

But, of course, your usual sniping doesn't address that wealth preservation philosophy.  

Tue, 05/29/2012 - 21:04 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

WHEN was gold not a safe-haven? For 5000 years it has been true right up to this day. Please explain your nonsense

Tue, 05/29/2012 - 12:51 | Link to Comment silverserfer
silverserfer's picture

Its astonishing that you have a handle that iplies intilect. Your posts repeatedly show you dont understand what the fuck is going on.

Its ok MF, its good that many people including you have no foresight. Cattle need to be calm and not stampeding before they are slaughtered. 

 

Tue, 05/29/2012 - 12:56 | Link to Comment Max Fischer
Max Fischer's picture

 

 

iplies intilect?

*LOL*

Typical doomer goon. 

Buy silver, crash JPM!

MF

Tue, 05/29/2012 - 13:01 | Link to Comment ThirdWorldDude
ThirdWorldDude's picture

Keep it up bitch, you might win the Nobel prize...

Tue, 05/29/2012 - 13:06 | Link to Comment Mr. Lucky
Mr. Lucky's picture

Just blips on a 10 year graph Max.  Look 5 years back and think 5 years forward and beyond. 

Tue, 05/29/2012 - 14:14 | Link to Comment Nobody For President
Nobody For President's picture

Gold is a store of value, which is a different concept than a risk-on, risk-off asset. 

It is also a commodity, and as such can have significant short-term swings in market value re fiat.

It can also serve as a portfolio insurance policy, with 3 to 5% gold and gold related stocks (mining) not being unreasonable.

If you chose to focus on short-term fluctuations, especially in today's HFT dominated market, and day-trade gold futures, you are just being another muppet.  

 

 

Tue, 05/29/2012 - 14:23 | Link to Comment Quinvarius
Quinvarius's picture

Gold is not a risk asset.  It has no long term correlation to risk assets.  It simply moves up to counter government debt and money printing.  What you are trying paint as a risk correlation is something that happened in a paper hedging market where no gold actually changed hands.  The paper price has nothing to do with gold accumulation or value in the short term.  Everyone likes the paper price to rise.  But gold's true value = (national debt/gold ounces held by government).  That is where the paper gold will eventually go as well.

Tue, 05/29/2012 - 17:10 | Link to Comment Meremortal
Meremortal's picture

You don't understand gold. But you aren't alone.

Tue, 05/29/2012 - 11:55 | Link to Comment DeadFred
DeadFred's picture

Anyone know how to get on Egan's insider update mailing list? It would be nice to front run one of these announcements.

Tue, 05/29/2012 - 11:59 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

It looks like the world is too broke to keep up with the Egan Joneses.

Tue, 05/29/2012 - 12:05 | Link to Comment Oh regional Indian
Oh regional Indian's picture

I think the ratings agency of choice needs a new Moniker: Egad Jones.

ori

Tue, 05/29/2012 - 12:09 | Link to Comment Xibalba
Xibalba's picture

booom!

Tue, 05/29/2012 - 12:25 | Link to Comment Theta_Burn
Theta_Burn's picture

Last time Mr. Jones was first to blaze a similar trail the SEC (in the interest of the US tax-payer...I'm sure) he had G-men popping in/out of his sphincter

 His closest colleagues now call him "Vegan Jones"

Wed, 05/30/2012 - 00:27 | Link to Comment StychoKiller
StychoKiller's picture

"Egad Jones and the Temple of Doom!"

Tue, 05/29/2012 - 13:42 | Link to Comment eclectic syncretist
eclectic syncretist's picture

The rain in Spain washes facebook down the drain.

Tue, 05/29/2012 - 11:50 | Link to Comment ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

"When is the break-neck reversal and ramrodding right back up to the highs?"

 

Only for stocks and currencies.  Unbacked risk assets like gold?  Not so much.

Tue, 05/29/2012 - 12:03 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

I'm waiting 4 the Fed 2 do a FB IPO.   I'm expecting it 2 open at $0.00 & with plenty of downside.

Tue, 05/29/2012 - 12:10 | Link to Comment eclectic syncretist
eclectic syncretist's picture

I'm starting to feel good about some July XLF 15 puts I bought at 1.11 a couple of hours ago. 

 

 

Tue, 05/29/2012 - 11:48 | Link to Comment drink or die
drink or die's picture

Going to need that Zerohedge IPO announcement soon to help prop up the markets.

Tue, 05/29/2012 - 11:48 | Link to Comment Bastiat009
Bastiat009's picture

The euro/gold currency is crashing ...

Tue, 05/29/2012 - 12:03 | Link to Comment fuu
fuu's picture

"and commodities reacted..."

Tue, 05/29/2012 - 12:06 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

If I get shares based on the number of crappy posts I've made I'm gonna be rich.

Tue, 05/29/2012 - 11:49 | Link to Comment ChelseaAggro
ChelseaAggro's picture

Another raid on gold.  Another chanceto stack coming up.

Sun, 07/01/2012 - 18:53 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

Here's a list of such dips for ya - http://flic.kr/p/cgMBw3 - enjoy. Update 52-week ROC model not ready yet

Tue, 05/29/2012 - 11:49 | Link to Comment Wakanda
Wakanda's picture

Wow, faster than Faceplant.

Tue, 05/29/2012 - 11:55 | Link to Comment Mark123
Mark123's picture

Will fb break the $30 today?  I still keep waiting for a melt-up in this dog.

 

Where are the market makers??????????????

Tue, 05/29/2012 - 12:15 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

It's times like these when we need RoboRetard to give us hope things are gonna get a lot better.

Tue, 05/29/2012 - 12:25 | Link to Comment Arius
Arius's picture

providing liquidity ... who do you guess is selling????

daaa

Tue, 05/29/2012 - 14:20 | Link to Comment Nobody For President
Nobody For President's picture

Will fb break the $30 today?  

 

Break in which direction?

It is 28.77 at the moment - 30+ handle at close today does not look too promising. The day's chart for it is more or less a single, steady decline - a 28.50 close would not be unreasonable to expect.

Tue, 05/29/2012 - 11:50 | Link to Comment FieldingMellish
FieldingMellish's picture

USD and Treasuries are the "safe havens"... <snicker, snicker>

Tue, 05/29/2012 - 11:53 | Link to Comment Dr. Engali
Dr. Engali's picture

Yes you better load up, there is plenty of upside from current levels.

Tue, 05/29/2012 - 12:03 | Link to Comment scatterbrains
scatterbrains's picture

for realz! When the shit starts flying you'll be paying protection money to hold U.S. paper.

 

Tue, 05/29/2012 - 12:22 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

If I were Egan Jones I'd invest in state of the art drone detection.

Tue, 05/29/2012 - 13:27 | Link to Comment hardcleareye
hardcleareye's picture

I've been wonder about that......  any start up companies doing that yet?

Tue, 05/29/2012 - 11:51 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Damn. I already took one cold shower this morning.

Mrs. Cog wasn't exactly receptive. And now this. :>)

Tue, 05/29/2012 - 11:53 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

You should have Mistress Cog on standby then............

Tue, 05/29/2012 - 12:02 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Mrs. Cog ain't gonna like that idea.

Mr. Cog and his "irrational exuberance" can be easily replaced. But a sparkling gem like her is real hard to find. I think this old horn dog is staying home. :>)

Tue, 05/29/2012 - 12:08 | Link to Comment fuu
fuu's picture

Have a radish for me buddy.

Tue, 05/29/2012 - 12:29 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Sadly we are between radish crops.

But it does look like Spinach salad is cued up for the week.

Tue, 05/29/2012 - 12:14 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

Whatever.  Married 18 years here, the first 3 or 4 were pretty awesome.

But when a WIFE realizes the ONE duty she is OBLIGATED to perform becomes OPTIONAL, then she is ENCOURAGING her husband to seek refuge elsewhere.  When she uses sex as solely a reward or bribe and you LET her, you are TOAST!!!!!

Trust me in this...............all men are horn dogs dude.  It's just the married "faithful" ones that are always dying to get laid...........

Sex is gonna cost you one way or the other........

Tue, 05/29/2012 - 12:28 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

It most certainly isn't an obligation on her part. That mentality is the sign of a failed partnership. From my point of view I see it as my job to keep her (very) interested. And for the most part I have been (very) successful. I can't control anything other than my point of view, which serves as my motivation. I suspect most (not all) women will remain interested if the man doesn't make it routine.

Mornings like today are the exception, not the rule. Thus I don't roam the field. Keep it interesting for both partners (especially when one or the other doesn't feel motivated) and there's no need for this dog to hunt anywhere else.

Tue, 05/29/2012 - 12:35 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

I respect your view.  But sex isn't an obligation????  My best friend's wife went cold on him and the court granted him a divorce on grounds of constructive abandonment.  YOU DAMN SURE STRAIGHT IT IS AN OBLIGATION!

For those who have successful marriages, I say congrats.  But your suspicion that "most" women will remain interested.......?????  You need to get out in the real world guy.  Women are spoiled, their children are spoiled and you are seeing that play out in the culture.........because if women don't get what they WANT........and kids don't get what they WANT.........

It's ruining the country bro..................needs are so 1950's..........

Tue, 05/29/2012 - 13:25 | Link to Comment hardcleareye
hardcleareye's picture

Maybe your attitude towards women has something to do with your wife's sexual interest in you!

 

 

Tue, 05/29/2012 - 14:47 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

Or maybe it's because my wife spends too much time watching Real Housewives of Wherever and Oprah and crap like that and has a false sense of what being a wife means nowadays. You can't change my perception: too many spoiled bitches on TV and too many spoiled wives in the real world.....

Tue, 05/29/2012 - 15:09 | Link to Comment DosZap
DosZap's picture

I know there is a time and a sure place for kids.I had em'.

Wouldn't trade them now for the world............

But, want to guarantee a dead/near dead sex life, have a/some kids.( esp if the wife has a career also).........double dead.

Women typically choose their mates (unkown to them, AND men) by the natural process of best candidate for strong,healthy kids.

Its the facts jack.( this of course applies to those that want children,and /or are just looking for the rich dudes,(ever notice the prettiest women USUALLY are with the mediocre/flat ass fugly dudes,but loaded?).

 

Tue, 05/29/2012 - 14:50 | Link to Comment DosZap
DosZap's picture

CD,

It most certainly isn't an obligation on her part.

It most assuredly is her obligation, as much as yours.

Marriage is not 50-50, its 100-100.

You dudes who are short changed and or cut off, seek counseling immediately.( just a train wreck about to happen)

 

Tue, 05/29/2012 - 13:15 | Link to Comment hardcleareye
hardcleareye's picture

Been married over 30 plus years.....  you chose poorly!!!!!

Tue, 05/29/2012 - 12:17 | Link to Comment Global Hunter
Global Hunter's picture

CD, a little humour mixed with some truth, put a smile/smirk on my face.

Tue, 05/29/2012 - 12:09 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

Next time try a hot shower with Ms. Rosy Palms.   You can't miss.

Tue, 05/29/2012 - 11:52 | Link to Comment kito
kito's picture

yet the dow is holding.....hmmmm....and who said central planning doesnt work ;)

Tue, 05/29/2012 - 11:57 | Link to Comment CvlDobd
CvlDobd's picture

And back to + triple digits!

That pullback was scary shit!

Tue, 05/29/2012 - 12:05 | Link to Comment kito
kito's picture

as long as that last bastion of americas wealth effect holds, commodities will continue to be plagued by a deflationary contracting environment, because there is no incentive to print.........ben continues to be a one man show stopper. bringing raw commodity prices down, competition (gold) out of harms way, and letting joe america sleep soundly with dreams of 401k splendor...................

Tue, 05/29/2012 - 11:52 | Link to Comment lizzy36
lizzy36's picture

You mean super Mario is not bailing out all the EU banks.....shocking.

Tue, 05/29/2012 - 11:52 | Link to Comment Mark123
Mark123's picture

How stupid can the markets be?  The world already knew Spain is f'd up big time....and they react to a company ratings downgrade? 

 

I rather think that the market was pumped up for certain nefarious reasons, and then the magic support was removed after the market makers had taken their positions.  Or maybe it was something to do with the Mayan calendar????  When I read the entrails of the chicken I sacrificed this morning there was no mention of a Spanish downgrade.

Tue, 05/29/2012 - 11:57 | Link to Comment Kreditanstalt
Kreditanstalt's picture

I guess the herd can remain stupid for longer than we can remain patient.  (Just keep buying).

Tue, 05/29/2012 - 12:02 | Link to Comment Winston Churchill
Winston Churchill's picture

Did you forget the ritual sacrifice at dawn ?

Tue, 05/29/2012 - 11:53 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

Edgar Jones shuts off the red light at Big Ben's Liquidity Tit Suck Hotel and Bar.  Nice................

Tue, 05/29/2012 - 11:55 | Link to Comment lolmao500
lolmao500's picture

Silver, ALWAYS GOING DOWN...

Tue, 05/29/2012 - 11:57 | Link to Comment homersimpson
homersimpson's picture

Just like your rating on your last silly comment. if you're waiting for silver to hit single digits, then you mind as well start investing in Zimbabwe dollars because that ain't happenin'.

Tue, 05/29/2012 - 12:07 | Link to Comment Dr. Engali
Dr. Engali's picture

Reminds me of your mom.

Tue, 05/29/2012 - 11:56 | Link to Comment Kreditanstalt
Kreditanstalt's picture

Reality bites.  The signal to FLEE TO PAPER.

Tue, 05/29/2012 - 11:57 | Link to Comment monopoly
monopoly's picture

This drop does not bother me one bit. Too many weak holders that do not follow us here.  I know what the end game is.

Got all that I need and not changing anything, off to the garden.

Tue, 05/29/2012 - 11:58 | Link to Comment Nothing To See Here
Nothing To See Here's picture

@Egan-Jones,

"I find your lack of faith disturbing"

Tue, 05/29/2012 - 12:02 | Link to Comment Hedgetard55
Hedgetard55's picture

Farcebook on the express elevator to hell. 29.70.

Tue, 05/29/2012 - 12:07 | Link to Comment Paul Atreides
Paul Atreides's picture

Long sonic electronic ball breakers.

Wed, 05/30/2012 - 00:33 | Link to Comment StychoKiller
StychoKiller's picture

Is THAT what weirding modules do?  Mu'ad Dib!!

Tue, 05/29/2012 - 12:35 | Link to Comment fuu
fuu's picture

Is it strange that the FB ticker from google finance now starts on 5/21/12 not on 5/18/12?

-23% vs -30%

Tue, 05/29/2012 - 12:04 | Link to Comment monopoly
monopoly's picture

Hey all, just think of the names, Bernank, Obama, Pelosi, Reid, Panetta, Boehner, Dimon, and the all knowing members of the Fed. You really want to hold "dollars", or invest in the "stock market".

Tue, 05/29/2012 - 12:04 | Link to Comment q99x2
q99x2's picture

Everything went wrong today and the markets are doing great. The markets must not have anything to do with anything. They've decoupled. Maybe no one owns them anymore. Or maybe they've been attached to the Bernank's kids computer and he's doing a research project for school with them. Somthing doesn't seem right.

Tue, 05/29/2012 - 12:17 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Now that image deserves to be posted if only to show the severe (Greek) Cognitive Dissonance at play.

Hardly Working

http://www.pewglobal.org/2012/05/29/european-unity-on-the-rocks/

Tue, 05/29/2012 - 12:26 | Link to Comment dudebum
dudebum's picture

Oh god that's funny!

Tue, 05/29/2012 - 12:47 | Link to Comment Bastiat
Bastiat's picture

It's probably accurate from a subjective point of view: for the Greeks it's really hard to work;  whenever they are working it's very hard for them;  therefore they are the most hardworking.

 

Tue, 05/29/2012 - 12:06 | Link to Comment spinone
spinone's picture

DJIA stii up 85 you doomers. Bernanke bid 4evah!

Tue, 05/29/2012 - 12:26 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

That'll all be gone by Noon Wednesday at the latest.

Tue, 05/29/2012 - 12:07 | Link to Comment monopoly
monopoly's picture

Sometime in June, Bernank will announce the latest attempt to save the banks and bankers.... "Operation Armagedon 1".

Then the fun begins.

Tue, 05/29/2012 - 12:09 | Link to Comment realtick
realtick's picture

It's really not necessary to put directional arrows on your charts.

Just a suggestion...

Tue, 05/29/2012 - 12:09 | Link to Comment monopoly
monopoly's picture

FB, My goodness. 

Tue, 05/29/2012 - 13:42 | Link to Comment Unbezahlbar
Unbezahlbar's picture

My guess is the SEC has sent Egan Jones several boxes of Blue Fin tune as a "gift":

 

http://www.zerohedge.com/contributed/2012-05-29/%E2%80%9Cabsolutely-ever...

 

It's a variation on the 'horse head in the bed' routine....

Tue, 05/29/2012 - 12:39 | Link to Comment ghostzapper
ghostzapper's picture

Billy Bats might be asking Sack today "come on you fucking feelin strong?"

 

Can't let all this giddiness from this morning fade away the faces on the comedy channel will be longer than I'll Have Another's face. 

Tue, 05/29/2012 - 13:20 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

anybody know if the greek stockMkt is strong again today?

stocks still green, but s&p toeing the line

long bond just went thru 148. again.  the treasure can put us another $Tril in the debt hole;  permanently;  the checks are IN THE MAIL!!!

maybe stocks are gonna look good with these commodity prices down;  we can pay $4.69 for a jar of mayo and the corpo margins will be wonderful...til 29% inflation kicks in...

5 more weeks til the 2nd Quarter ends

everthing is still screwed down pretty tight except the stuff zeroHeads own;  altho the miners are down, today, they did have a heluva run for a coupla weeks

are we seeing the reverse of last year when daBoyz bought gold and sold the stocks;  are they now buying stocks and selling gold? well, paper gold;   not right now, but stay toonered

soybeans are up ok @ 13.93;  they may have been oversold after abt $15, but corn and wheat are down 2+% with wheat $0.95 rich Vs. corn! i don't recall seeing them spread that wide for moony moonz

the crimex has got more action than stocks, it appears;  more 'beta'

gold is $120/ oz above plat;  the banksters and traders are just pumping&dumping the spreads on the metals and grains

and recall that margins were lowered last week...;  and the cots report last week indicated increased open interest and options in the PMs;  i think

better double-check

COT Gold, Silver and US Dollar Index Report - May 25, 2012
By: GoldSeek.com

yep:  gold open interest up 13Kcontracts; ^29K w/options

silver open interest contracted -561, but +3K with the options

and, the mogambo is upStupendous Mogambo Advice (SMA)
and graceland stewie, too!Gold And Growth With Safety both also on goldSeek

now:  is this risk0n or risk0ff?

 

 

Tue, 05/29/2012 - 13:29 | Link to Comment kevinearick
kevinearick's picture

Town 4 Sale

 

Apple cannot exist without economic slavery;

Google cannot exist without invading privacy;

Priceline cannot exist without false advertizing; and

Facebook cannot exist without the false economy of fake people.

The Buffets and Gates of the world are shorting their own enterprises, Oprah can’t get money out of a bank, and Silicon Valley is confident that it can spend tax dollars best. When stupid is the correct answer, you are watching empire TV, breeding stupidity to scale economies with MAD derivatives, while the operators all hide in their offices, paid week to week by the taxpayer, the Fed, watching Wisconson.

Pick a town, any town. They are all for sale, whether you know it or not, if you can pay the escalating tribute. And, in case you didn’t hear the proclamation through all the noise, Congress temporarily digitized local government pensions by throwing Social Security under the bus. Where is Jerry Lewis when you need him? Walking on water somewhere I suppose, once his manservant drops the stairs.

They keep adding pictures to the Facebook wall, and dropping those coins in the slot. First it was straw; now it’s pictures, instead of bricks. That didn’t work for Kodak, Rochester, or anyone else. It only works in Hollywood. Have you ever been to Hollywood, anxiety with no place to go but inward?

An empire is a depression.

So, I’m in Oprah-land and kid Latin cop pulls over in his $1/2M RV mortgage, looking for Oprah’s house, like she takes a risk on mingling with the lower robots, in a town for sale at $2M. I would have directed him across the country to Virginia, but he already had enough fairy tales, like his pension, to chase.

Wed, 05/30/2012 - 00:35 | Link to Comment StychoKiller
StychoKiller's picture

Just glad that Egan Jones is STILL sticking their finger in the SEC's eye(s)...

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