ES Soars On Hope, QE3 (Non-Lite) Expectations, Takes Out 100 SMA

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Fri, 10/21/2011 - 10:34 | 1796942 redpill
redpill's picture

Play it again, Sam, and up the dosage!

Fri, 10/21/2011 - 10:41 | 1796982 Chief KnocAHoma
Chief KnocAHoma's picture

Chief like this idea:

Use worthless paper for hard assets, and let foreigners help.

I am The Chief!


Fri, 10/21/2011 - 10:46 | 1797017 LawsofPhysics
LawsofPhysics's picture

Yes, of course, never mind the fact that many of these areas do not have the energy or water supplies to serve the current populations and businesses they already have.  Winning.

Fri, 10/21/2011 - 10:48 | 1797025 Chief KnocAHoma
Chief KnocAHoma's picture

We aren't talking about new development Einstein. Just trying to liquidate existing overhang.

Fri, 10/21/2011 - 11:05 | 1797112 MillionDollarBonus_
MillionDollarBonus_'s picture

I'm sitting tight with my leveraged Equity portfolio. Any dips are buying opportunities at this point. Yesterday's Philadelphia Fed survey confirms that the negative economic conditions are merely transitory and I'm looking forward to a VERY profitable 2012. For those of you who haven't bought your financials and retail stocks you need to hurry because this buying window will NOT last much longer.

Fri, 10/21/2011 - 11:10 | 1797136 scatterbrains
scatterbrains's picture

Citi not really trying to feel the love today bitches!

Fri, 10/21/2011 - 11:10 | 1797138 redpill
redpill's picture

Good advice.  You and Jim Cramer are my primary sources for investing information.  To the moon!

Fri, 10/21/2011 - 11:30 | 1797177 Pure Evil
Pure Evil's picture

Yeah, with $1 trillion in deposits backstopping 50+ trillions in derivatives, BAC is a best buy. Cha-ching!

Fri, 10/21/2011 - 11:34 | 1797261 i root for that...
i root for that fat jersey governor's picture

enough said about the bulls are headline driven, I kind of think it is actually the bears who do that now - hoping the headline from EU falls short. The real thing here (since we are buying stocks) is company earnings. until some big names really disappoint, I don't see why this market should break dowon in short-term.

Fri, 10/21/2011 - 11:39 | 1797284 LawsofPhysics
LawsofPhysics's picture

"We aren't talking about new development Einstein. Just trying to liquidate existing overhang."

Doesn't really matter if you are or not fucknut.

Fri, 10/21/2011 - 10:42 | 1796989 CPL
CPL's picture

Some of the various side effects from the different market hopium dosages include and are not limited to:

  • Dry mouth
  • Urinary retention
  • Blurred vision
  • Constipation
  • Sedation (can interfere with driving or operating machinery)
  • Sleep disruption
  • Weight gain
  • Headache
  • Nausea
  • Gastrointestinal disturbance/diarrhea
  • Abdominal pain
  • Inability to achieve an erection
  • Inability to achieve an orgasm (men and women)
  • Loss of libido
  • Agitation
  • Anxiety
  • Stroke
  • Hear attack
  • Gigantic eyeball syndrome
  • Fluffy hands.
Fri, 10/21/2011 - 10:45 | 1797002 ZippyDooDah
ZippyDooDah's picture

You forgot....anal leakage!

My favorite.

Fri, 10/21/2011 - 12:17 | 1797412 pods
pods's picture

The condition known as "Hot Dog Fingers."


Fri, 10/21/2011 - 18:12 | 1798800 StychoKiller
StychoKiller's picture

You say that like it's a bad thing! :>D

Fri, 10/21/2011 - 11:06 | 1797117 Ruffcut
Ruffcut's picture

Just wait until the turkey rally next month. Feathers flying around everywhere. Go double long on gravy to cover those steamin mashed dog turds.

Fri, 10/21/2011 - 11:52 | 1797328 Greenspan Shrugged
Greenspan Shrugged's picture

We're going to the one year moving average on the ES and then look out below people.  Check out the chart below.

Fri, 10/21/2011 - 16:01 | 1798372 prophet
prophet's picture

There is a twenty percent move coming before the end of the year.

Fri, 10/21/2011 - 13:37 | 1797426 Village Idiot
Village Idiot's picture


Fri, 10/21/2011 - 15:36 | 1798245 IQ 145
IQ 145's picture

Just dumped my BAC @6.45; bought at $5.70. It's boring; and I want the equity to support my new S&P500 short at 1234.

Fri, 10/21/2011 - 16:05 | 1798391 prophet
prophet's picture

big up monday risk seems high, where is your stop

Fri, 10/21/2011 - 10:35 | 1796945 agent default
agent default's picture

Ink Bitchez!

Fri, 10/21/2011 - 10:40 | 1796975 GeneMarchbanks
GeneMarchbanks's picture

Keyboard. Save the ink, and please donate to Greece.

Fri, 10/21/2011 - 10:35 | 1796947 ZeroPower
ZeroPower's picture

To be fair, i would NOT be short over the weekend in case something (temporary) does come from the Merkozy meetings.

Fri, 10/21/2011 - 10:36 | 1796954 lovedr
lovedr's picture

You are wise.  There is still a little bit of road to kick the can down...but not much.

Fri, 10/21/2011 - 10:45 | 1797004 fuu
fuu's picture

We just need to put American road crews back to work making new road sections.

Fri, 10/21/2011 - 11:26 | 1797219 carbonmutant
carbonmutant's picture

Roads are passe we need more bullet trains...

PS. I live in California.

Fri, 10/21/2011 - 12:47 | 1797479 Catch-22
Catch-22's picture

I can see plenty of bullets in the future... not so many trains.

Fri, 10/21/2011 - 10:40 | 1796971 machineh
machineh's picture

Expect an epic food fight with fisticuffs at the Brussels summit.

It's the last lunch on the Titanic, with the drunk and disorderly passengers stabbing each other with butter knives.

Fri, 10/21/2011 - 10:39 | 1796973 Aductor
Aductor's picture

You don't think Utopia is priced in at this point?

Fri, 10/21/2011 - 10:46 | 1797011 ZeroPower
ZeroPower's picture

Definitely not utopia. The amount of firepower unleashed to run the SPX over 100 handles in such a short time frame is epic. Youll see soon enough when its time to short, when that same amount of money goes towards selling and buying OTM puts.

Buy the rumor sell the news might be in play till Monday, we shall see.

Fri, 10/21/2011 - 10:57 | 1797072 d00daa
d00daa's picture

don't think he said that, but there is something else going on here as well.  if we gap up here, yet again, and close at highs of day, regardless of what "should" be happening, you have to respect that price action.  you don't have to like it or understand it, but you must respect it.

Fri, 10/21/2011 - 10:42 | 1796991 jdelano
jdelano's picture

would you want to be long in the (likely) event that nothing tangible comes out of the meetings?

Fri, 10/21/2011 - 10:46 | 1797009 SixFeetFromTheHedge
SixFeetFromTheHedge's picture

To be even fairer, anything that comes from the Merkozy meetings has already been priced in. Right now the market has already priced in a 2 Trillion euro EFSF. 

If they come to any lesser conclusion there will probably be a disappointment. :)

Fri, 10/21/2011 - 10:55 | 1797062 rune420
rune420's picture

Holding any position that isn't hedged for systemic risk either way is pretty much just gambling at this point, at least for the short term. The market will only do that which angers the majority of its participants at any given time, so my guess is it won't drop untill more shorts are covered. Personally I'm long a couple of US sector ETFs and short a european index, the dollar is killing me today though.

Fri, 10/21/2011 - 10:56 | 1797071 homersimpson
homersimpson's picture

I'm now officially in for a sizeable amount in FAZ. I'll let u know if i'm rollin' large or rollin' in my grave on Monday. Way too much upside for FAZ to not go in now.


Fri, 10/21/2011 - 11:08 | 1797132 Randall Cabot
Randall Cabot's picture

My gut is that you should have given it a few more days.

Fri, 10/21/2011 - 11:19 | 1797189 Pure Evil
Pure Evil's picture




Fri, 10/21/2011 - 15:06 | 1798122 1fortheroad
1fortheroad's picture

I will take FAS for a thousand x 100 + 3

Fri, 10/21/2011 - 10:35 | 1796950 vote_libertaria...
vote_libertarian_party's picture


Bot reading headlines that Europe is fixed with no pain for anybody.

Options exp Friday momo zaniness.

That's 2 solid reasons to rally right there.

Fri, 10/21/2011 - 10:35 | 1796951 rajc
rajc's picture

just short covering 

Fri, 10/21/2011 - 10:47 | 1797019 maxmad
maxmad's picture

I think all the shorts have covered by now!  This is just a meltup on Inflation.  M1 and M2 are up over 40% for the year.... Nothing magical about this rally, other than your dollars are worth less or worthless!

Fri, 10/21/2011 - 10:52 | 1797035 maxmad
maxmad's picture

This is from George Ure's site:

Wonder why prices are firming and why outfits like GE are turning in whopper-sized profits?  Simple:  The Federal Reserve is orchestrating a runway money supply.  Yes, indeed, right here in the Federal Reserve's weekly H.6 money supply figures it's revealed that in the most recent three months, the annualized rate of M1 increase is 38.2 percent.  Bad?  You bet!



Fri, 10/21/2011 - 10:57 | 1797076 SDRII
SDRII's picture

But but but.....from the Fed Minutes

M2 surged in July and August, as investors and asset managers sought the relative safety and liquidity of bank deposits and other assets that make up the M2 aggregate. Notably, institutional investors, concerned about exposures of money funds to European financial institutions, shifted from prime money funds to bank deposits, and money fund managers accumulated sizable bank deposits in anticipation of potentially large redemptions by investors. In addition, retail investors evidently placed redemptions from equity and bond mutual funds into bank deposits and retail money market funds.

Fri, 10/21/2011 - 10:35 | 1796952 Aductor
Aductor's picture

Complete and utter madness. The invisible rational Kudlowian hand at work for you!

Fri, 10/21/2011 - 10:36 | 1796956 Dr. No
Dr. No's picture

"It funny how everything is roses when you hold onto the guns....just because your winning dont mean your the lucky one..."

Fri, 10/21/2011 - 10:40 | 1796978 Pig Brotha
Pig Brotha's picture

A G n R quote is just about right for this fucked up Friday

Fri, 10/21/2011 - 10:49 | 1797028 Dr. No
Dr. No's picture

didnt take long to find a connoisseur. 

Fri, 10/21/2011 - 11:04 | 1797109 jdelano
jdelano's picture

Ben on QE


I used to do a little but the little wouldn't do it so the little got more and more, just keep tryin to get a little better said a little better than before......

Fri, 10/21/2011 - 11:09 | 1797130 Dr. No
Dr. No's picture

deleted. see below

Fri, 10/21/2011 - 11:05 | 1797113 Pig Brotha
Pig Brotha's picture

Right back at ya -


The billions shift from side to side
And the wars go on with brainwashed pride
For the love of God and our human rights
And all these things are swept aside
By bloody hands time can't deny
And are washed away by your genocide
And history hides the lies of our civil wars

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