EURUSD Retraces Entire 'Bailout' In 3 Days

Tyler Durden's picture

Joining US TSYs, BTPs, and SPGs, the EUR has now retraced the entire post-summit rally in a mere 3 days, and is down 300 pips today alone. It also seems the actions in Greece are starting to get reactions in US financials and broad risk assets. We also note that EURJPY has retraced over 75% of the intervention in 18 hours...perhaps Azumi will let the market be now?


Chart: Bloomberg

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HelluvaEngineer's picture

bearish harami, bitchez

slaughterer's picture

S&P is downgrading France after the market closes today. 

Irish66's picture

Is that bullshit...or the truth

trampstamp's picture

Let's hope so. I thought Friday so we'll see

CClarity's picture

Long end Treasuries are signaling a problem.  30 bp move in 30yr since Thursday when hit 3.44.  The pretend part is falling out of the pretend and extend equation.

TruthInSunshine's picture

Off Topic (and reposted from last thread - b/c it's that good/bad) and if you like The Bernank and despise Ron Paul (yes, you would meet the DSM criteria for sociopath, if so), look away:


10-31 14:59: The Fed failed to fully document authority to rescue AIG (AIG)


But hey - it's all good; Goldman, JPM, Barclays, HSBC, Buffet/Munger, and many, many others with CDS winning bets against the derivative department of that world renowned insurance giant, AIG, all GOTS PAID IN FULL, courtesy of the U.S. Taxpayer (i.e. forced, involuntary bloodletting to the tune of 202 billion - just for AIG - and counting).

The Federal Reserve Bank, under the tutelage of The Bernank, William 'iPad2 is delicious' Dudley, and Brian 'Charity Unto JPM & Goldman' Sack (not to mention current Treasurer of the U.S. and former head of the NY Branch of the Federal Reserve) - corruption like we've never seen before, bitchez.

dwdollar's picture

Sigh... back to the "can't let the DOW slip below 12k" game. This shit gets old.

homersimpson's picture

It's nice to be on the good side of a FAZ bet for once.

Stax Edwards's picture

Considering getting short FINS here also...haven't pulled the trigger

From the broken markets dept:

100% of S&P FINS trading above 50 DMA

SeverinSlade's picture

Listen to Cramer and buy this fucking dip.  Hedge funds have to get into this market right...RIGHT?!?!

Cdad's picture

Oh yeah,'s a lock.  Never mind the capital pouring into overpriced treasuries promising returns of nothing.  Pay no attention to the man behind the curtain.

You gotta buy peak earnings, baby!

**BlowHorn:  "The weather is getting cold...people have to buy coats."  Just in case you were wondering about the inevitability of forward joy joy in pixie dust earnings land...there you have it.**

HelluvaEngineer's picture

I was just gonna layer all these damn yoga pants I bought.

Cdad's picture

Man...that's tough.  Lots of layers to pull that one off...but you look HOT HOT HOT!

SheepDog-One's picture

MINK coats at that, no doubt!

Ronaldo's picture

Sure, there is a Bull Market somewhere. In this case it might be in Spain where they will butcher them bitchez for dinner!!!!!!!!!!!!  Beef Anyone?

NOTW777's picture



1.3938ish possible neckline gone and oct 4 trend broken

The Axe's picture

That is so crazy shit....Where the fuck is ROBOT  I got so US. Steel to sell

Timmay's picture

This bores me...

Black Forest's picture

EURCHF knocking on heaven's door 1.20 soon

junkyardjack's picture

What this market needs is another rumor.  Can Thailand bail out the Euro?

SeverinSlade's picture

I heard FT say that the 5th dimension called Merkozy and said they have plenty of cash.

LeBalance's picture

that's credible!  I can see the funding source as well.

"When the moon is in the seventh house,

And Jupiter aligns with Mars...." << (this is the 5th D you were taking about, right?)

makes much more sense where the backing value is than....

"We have a plan to make a plan about a plan."

!!! We are saved !!!

DeadFred's picture

BoJ spent 10 trillion yen last night but ran out of gas and couldn't keep the peg

I wonder if the excess $$$ went into the spikes in other currencies like the GBP.

FunkyMonkeyBoy's picture

... But i thought there were still too many on the EUD/USD short side of the boat that needed to be squeezed some more?

Jim in MN's picture

"Don't squeeze the Charmin once it's got shit all over it"

EL INDIO's picture

Here are some possible raisons for this:

1. The cot report did not include the big up day;

2. There are shorts which were established at higher levels;

3. Shorts at low levels could have been covered then re-established at higher levels;


Conclusion: COT reports not very usefull.

LeBalance's picture

Shoot for the heart, Indio!  Always the heart.  Aim for the heart.

I salute you, brave warrior, for attempting to find causality in some corner of the asylum.

EL INDIO's picture

I salute you too LeBalance.

Although in the movie where Clint tells me to aim for the heart I'm Ramon not Indio. I also kill lots of Mexicans and Americans to take their Gold.


SheepDog-One's picture

Looks like the shorts called the bluff, and win.

Matt1973's picture

Just as all the talking heads said to buy

Sudden Debt's picture

Let's hope that as many lemmings as possible start to realize they'd better start buying PM's like crazy in Europe because NO WAY this shit is going to out in a favorable manner.


apberusdisvet's picture


Gravity is such a bitch.

EL INDIO's picture


The Euro is like a ski jumper after he's left the ramp

smiler03's picture

With a parachute on one ski and a jet on the other

EL INDIO's picture

Gravity is working and I’m betting on it. Everything is heavy at the moment except US bonds and the USD. Without the QE rocket booster fuel, assets are coming down and the next QE launch is not coming without some really terrible economy and a USD index much higher than what it is.

That’s their way of sterilising the money they print and reducing the dept. It gets destroyed in deflationary bankruptcies and defaults then they print some more until inflation is intolerable again then they let deflation come back for a while and so on. It’s a good plan for them if you think about it: you don’t get hyperinflation but you also don’t get a severe deflation and the status quo is persevered forever (or so they which).

rosex229's picture

is it time to load up on tza, dpk, faz, and tvix, or shall we wait until 48 hours after the nov 4th g20 meeting. i'm still truly awe struck by the size of this rally even if it is unraveling. i'm personally quite close to unloading my gold and silver, physical of course, andf buying back in after the coming crash. gold and silver will fall, but its to the moon once the hyperinflation  sets in.

Yellowhoard's picture


But it will be "paper" gold and silver that will crash the most. Last crash, the spreads between spot and physical were the widest I've ever seen.

People that held physical weren't selling and people with paper were selling to meet margin calls.

DosZap's picture


Last crash, the spreads between spot and physical were the widest I've ever seen.


Bingo, damn near where enough to make up for the PERCIVED loss, I can only imagine this time, the Phys mkt is REALLY short Silver now, and I am sure Gold is not near the levels it was avail in '08.

LongBalls's picture


You are assuming that you will be able to get your hands on it when everyone is rushing in. The bond investors will soon come to terms with the fact that CDS's are steaming piles of dung. They will be making massive money moves shortly. Buy PM's, hang on to what you have, and be thankful you have them. Do not pay attention to the price. Trying to time this bomb is CRAZY!

afdestruction's picture

Agreed. Hold your physical, if you want to hedge your losses I'd say get a small play in the ultrapro/ultrashort gold and silver funds.

oklaboy's picture

do I hear 1.0??? any takers?

SeverinSlade's picture

More bad news.  While the Martians seem ready and willing to bail out Europe, FT is reporting that after conducting an interview with God, even God is unwilling to bail out Europe saying, "I thought I fucked up when I created the Platypus but this Euro situation has clusterfuck written all over it."

Piranhanoia's picture

soon as you posted this someone started throwing money at it.  It was just about to break the low.  

How does it feel being The market mover ZH?