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So much for that advice from Comcast's financial comedy and wealth destruction channel earlier today that buyers are stepping in...
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Perhaps they mean people are buying SDS?
People are buying SSRIs.
And popping them like tic tacs. Long psychologists and pavement cleaners.
I don't care about the returns. I believe it is my duty as an American to buy the S&P. I trust that the courage of our congress will pull us through these hard times and I will be rewarded for my perseverance and for having faith in the values that built this country.
And we shall all ride red white and blue unicorns together!
Let's all hold hands and buy some more Latin junk bonds!
We're doin' GREAT!!
Yeah but we are "Off the lows" so please proceed to your nearest Apple store and buy something.
Can already hear the spin of "the opening could have been worse" starting to creep in, as in this will shake out weak hands only and true big fish are buyers
Buyers are stepping in; there just happens to be more sellers ;)
Buyers are stepping in...to the punch.
Bernankincide needs a massive drop and panic in the streets in order to justify QE tomorrow, which will this time include paying for the first car, university tuition (no matter the cost or school), and a bag of expensive iSwag for children of anyone who works for banks or on Wall Street.
Bernankincide will claim that having the Federal Reserve pay for such things with taxpayer money is a great investment in the future of Main Street.
QE3 will work for a couple of days, but then it will accelerate the decline. To repeat what I wrote yesterday, it's like trying to put out a forest fire by pissing on it. There is no way he can bring enough bond buying to bear fast enough to feed the monster of asset price and debt deflation that is starting to gather speed.
Closing time, time for you to go out to the places you will be from.
So finish up your whiskey or beer...
CDS buyers bitches!!
The EU is falling apart at the seams and the ECB cant hide it!!!
just wait until the last hour of trading , thats going to be ugly
No breaks after 2:30 correct?
People are buying things tht matter.....AK-47s, AR-15s, M1911s, food, grain, batteries, gold, silver...
Garands, Mini 14/Mini30, AMMO!
12GA FTW.
Can brutha get a Tommy Gun!
I bought a Mossberg Persuader on Saturday. For quail and dove, of course.
Time for Barry to take that $2.8t he just stole from the tax payers and buy some Apple and Netflix.
Time for another press conference where he will be 20 minutes late and use the words "folks", "firefighters", and "green energy" a lot while telling us how great America is.
Maybe the Clownhorn CNBS meant theres heavy buying of weapons and ammo?
Everyone is going liquid. Dumping paper gold and silver. Watch for panic buying of physical if this continues.
There's no such thing as panic buying of physical. Any buying of physical is right and proper.
+1702
Que up Cramer on the phone ... "I'm not seeing panic selling"
look at the buy that just went through IEF.
But I could then say 'Look at the sell that just went thru IEF'
Check your option premiums. But anyways, I should also mention people thought I was crazy a year and a half ago when I was screaming buy 5 year treasuries :P
just so i understand, you're buying es here? or you're just telling everyone else to? or both?
Barton Bbbbbiggs......."I don't know what's going on.........I'm getting out of the way"
Kakakaka.......
I thought Cramer said that buyers were coming in ???
Next stop 1101 (38.2) on the SPX
Maybe Cramer meant Wall St buyers of whores and cocaine were coming in.
Will 1100 hold?
Will 11,000 hold?
Today? Most likely. Tomorrow? Maybe. Wednesday? Fuggedaboudit.
Gold only up $124 since Bernanke told Ron Paul "Gold is not Money". DJIA has also imploded nearly 2k since then.
WOOT!
@ baby blythe. Nice, winning!!!!!!!!!!!!
I have never felt so crappy about being right
This market got Munsoned. ;)
Sphinx riddle of the day: What kind of intervention can the complex do that won't make things worse?
Pivot PointsTime: 08.08.11 14:28 GMT
Name S3 S2 S1 Pivot Points R1 R2 R3 Classic 1147.19 1154.82 1162.49 1170.12 1177.79 1185.42 1193.09 Fibonacci 1154.82 1160.66 1164.28 1170.12 1175.96 1179.58 1185.42 Camarilla 1165.94 1167.35 1168.75 1170.12 1171.55 1172.96 1174.36 Woodie's 1147.21 1154.83 1162.51 1170.13 1177.81 1185.43 1193.11 DeMark's - - 1166.3 1172.03 1181.6 - - Moving AveragesTime: 08.08.11 14:28 GMT
Name MA5 MA10 MA20 MA50 MA100 MA200 Simple 1166.51
Sell 1169.79
Sell 1174.895
Sell 1191.72
Sell 1223.315
Sell 1260.3995
Sell Exponential 1165.627
Sell 1168.9985
Sell 1174.3742
Sell 1192.6042
Sell 1217.6128
Sell 1247.4122
Sell http://c1308342.cdn.cloudfiles.rackspacecloud.com/technical_studies/curr...) repeat-x;">
Buy: 0 Sell: 12 Moving Averages Summary: STRONG SELL
Technical IndicatorsTime: 08.08.11 14:28 GMTName Value Action RSI(14) 37.627 Sell STOCH(9,6) 38.189 Sell STOCHRSI(14) 1.146 Oversold MACD(12,26) -7.9312 Sell ADX(14) 32.129 Sell Williams %R -93.557 Oversold Name Value Action CCI(14) -190.3324 Sell ATR(14) 10.1857 Less Volatility Highs/Lows(14) -10.7571 Sell Ultimate Oscillator 36.618 Sell ROC -1.793 Sell Bull/Bear Power(13) -15.7086 Sell http://c1308342.cdn.cloudfiles.rackspacecloud.com/technical_studies/curr...) repeat-x;">
Buy: 0 Sell: 9 Neutral: 2 Indicators Summary: STRONG SELL
what the fuck happened to "RISK ON" you pedantic cunt??? more slaughterer longs getting slaughtered. buy that fucking dip asscheese.
http://www.zerohedge.com/news/highlights-g-7-statement-which-basically-s...
ZH: 1 Slaughtered / G7: 0
You do have a wicked right cross.
ZH: 4 G7: 1
Fed?
Yes, tomorrow should be interesting, in the Chinese proverb sense of the word,...but will that change anything in nominal terms?
Benny and the Inkjet's only saving grace is that crude got monkeyhammered to run some interference for their inflatable-doll economy, but maybe that'll just make the trip to Eccles more affordable for the angry mob.
Is he gonna buy every muni bond in the US?
How about every sovereign in the Ewwww (because the Reich can't / won't)?
C'mon Slaughty...tell us a bedtime story.
They will soon need to have Maria Bartiromo and that Australian slut get their tits out while reading the news so people will actually watch their show!
I just sold out 100% cash... Where to go? I had only some trusts paying monthly income, but they are also being wiped out in the oceans of read.
Your local coin shop, tout de suite!
o.k. But how many of you guys are actually short?
long xrt jan12 45 puts @ 2.14
Bonus question: If you are, do you have the scars to take it as long-term gains?
uh me. wishing i was also long PM, but take solace in being short (mainly through puts) all the bullshit momentum stocks of the last year...
nflx, lulu, cmg, pcln, gmcr, crm, lnkd. short all of them and the last 3 days have provided pretty stunning results in my green pie ameritrade chart. hope that i can buy shit with green pie later on.
i am still long turtles.
"...buyers are stepping in..."
Buyers are stepping in: to piles of financial trash.
I'm afraid one every minute isn't fast enough...we need more suckahs!
You got the feel sorry for Santelli and Kernan. It all started going down hill since Charlie Gasparino went to Fox.
Kernan was all pissed off this morning and said he wouldn't carry water for the administration BUT the S&P downgrade was a bunch of BS. How can a few countries in Europe be rated higher than the US with our economy. He was ranting and raving while I was getting ready to leave.
Joe, STFU, your a fucking douche, always have been and always will be. Just another blowhorn (h/t due to CDAD) shill cheerleading the people to slaughter.
Santelli just busted on CNBC. Something along the lines of 'people who don't understand business, like commentators on CNBC........'
Notice how silver's being quietly beat down from it's early $41-ish???
Who needs a POMO when the world gets scared into buying UST all by itself?
Bernanke wins in the end.
scared or "scarred?"
Imagine how bad the sell off would be if America's less then perfect debt quality was actually news to anyone AND everyone wasn't expecting QE3 to be announced any day now!
The question we should be discussing is can America refinance itself w/o further QE at the expense of a global depression?
That reserve currency status needs to be pulled, pronto subito.
Why the fuck does the US and Americans deserve to live the high fucking life to the detriment of the rest of the world because it has the fucking reserve currency status?
Putin was right with his comments the other day. The reserve currency status needs to change. The US needs to be left to its own demise.
Global financial markets can and will work better without having to supply liquidity to the US over and over and over again.
The commodity space is getting interesting. Oil, natural gas, agricultural stuff getting hammered. Are they following stocks down? It seems like they are indicating a bet that the Fed and ECB will not be successful in destroying the dollar and Euro. Is that a correct read? It seems like if you think they will be successful in trashing their currencies that going long commodities might be a good play. Any thoughts ZH-ers?
Crimerica needs cheap oil to function.
Don't bet against the Dollar. Long live King Dollar /puke.
someone has to plot the past 10 or 12 trading sessions on top of each other. they are nearly identical. DOW goes down massive from 9:30 till 10:30 and then a huge 100 point plus rally kicks in around 10:45. the market remains down triple digits but going up over 100 points in a few minutes on a down day is insane.
it is exactly the same pattern every day. what happens after 2:00 is what will decide the close. we may even go positive today for a little while. it looked like 1100 was the line drawn in the sand for the morning selloff.
completely brokn this market is
I was. Had tza and vxx since last fall, took a bath. Picked up rsw and sco and sold it last thurs for a decent gain. Could have been way better gain but was travelling and no internet so got closed out for way less than I could have had... Sometimes vacations suck...
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