The Evil S&P Empire Strikes Back: Says Broad Muni Downgrade Will Come After Final US Budget

Tyler Durden's picture

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andybev01's picture

Rubber & Glue bitchez!

slewie the pi-rat's picture

that's a 129 beyer speed rating;  we will accept a note from yer mom that it was just too much caffeine.  again

andybev01's picture

(too much coffee...)

Sofa King's picture

On the plus side, they managed to get the SP500 to close over 1140.

ElvisDog's picture

Can we finally come to the conclusion that all the support levels, death crosses, Hindenburg omens, Dow Theory non-confirmations, and all the other Technical Analysis bullshit means nothing in an HFT algorithm-driven world where the computer programs know all of the technical analysis flags and can manipulate them at will. Anyone who still clings to and trades based on technical analysis is a nice, fat sheep served up to the HFT's to slaughter.

caerus's picture

investigate this!

IQ 145's picture

Speaking truth to a tyrant is a revolutionary act."  Good for the S&P.

Caviar Emptor's picture

Secret Service has some pics of S&P execs performing acts with Ukranian floozies. Just in case. 

vast-dom's picture

Guess that's further proof it's not Stagflation LOL!

I guess your alternate reality is predicated on Graham Summer's $350/oz gold and discounted foodstuffs at Costco ;p



Caviar Emptor's picture

Well it ain't. Stagflation that is. 

As far as alternate reality, what passes for reality these days is entertainment enough

vast-dom's picture

The critical data you are missing is that Slavic Floozies are charging 32% less for services rendered whilst their purchasing power has plummeted. Their solution: wash less between Johns and work harder --.what's the revised Floozie exlpoitation ratio? Maybe Marx was right all along....




Noun: Persistent high inflation combined with high unemployment and stagnant demand in a country's economy. 


Now you know.

falak pema's picture

Marx would have gone long on free love and flooze for soidarity.

falak pema's picture

That wasn't a floozie that was Timoschenko on parole.

adr's picture

Check out the market at the close. Looks like we can get a +500 day tomorrow. Massive buy ramp in the last 15 minutes. In 8 minutes the Dow jumped 119 points!!!

Someone must have caught the Algos and switched them off right before the close because the last 4 minutes saw 34 points drop off and the poor market couldn't hold 11k.

What a con game. Unbelievable.

HelluvaEngineer's picture

I covered some shorts.  I bet others did too.

Cdad's picture

I covered one in the iron ore group.  

I put another one the restaurant group.



adr's picture

That close was crazy. Look at the 4PM volume. It looks like everyone screameed, "Don't buy sell, sell, sell." 70 million shares at 4pm unless I am reading that wrong.

T-roll's picture

I'm anxious to see what the next week of trading will bring with the run up to Jackson Hole.  I don't believe that Benny and the Jets will announce QE3.  I'm thinking we'll see the Dow below 10K and the S&P below 1,000 before the end of September.

CompassionateFascist's picture

Unless Shalom Ben wants to be horsewhipped by Rick Perry, there'll be no more QE.

falak pema's picture

that convoluted? Repent and pray for the coming high rise of assets without artificial levitation.

caerus's picture

you may be right...but the NQ knifed through (weak) short term support after testing the neckline at 2200 3 times in as many days...the indices appear to be moving together more or less, with a few days lag...NQ was 1964 at low on 8/9...i think we'll test those levels soon 

maxmad's picture

Nothing more than short covering... Expect the slide to continue tomorrow

lizzy36's picture

Well there hasn't been a federal budget for more than 800 days. Likely there won't be one for another 800 days.

Problem solved.

DonnieD's picture


Let's keep score here: Obama can't pass a budget, had no plan in the debt debate and he has a jobs plan but won't share it until after vacation. But he knows what cars and trucks are profitable for GM and Ford to make and now he's starting a bitch fight with S&P because after the blowback from the downgrade it's going to take a little longer for him to get the greenback on par with Zim dollars.

CH1's picture

But he's SOOOO dreamy!I saw it on TV! Important people say so!!!

Okay, I admit, I nearly puked writing that, but there are still a lot of people out there who believe network news. It is a massive evil that we are forcibly grouped with them.

Caviar Emptor's picture

Cause they're penning the massive fiscal stimulus at Martha's Vineyard. 

PulauHantu29's picture

Yes, it's about time for S&P to be called before The Ministry of Truth alongside Meredith Whitney and those other desperados---Bill Gross, Roubini, Schiff, Paul, etc. Soon they will rename the S&P the B&T (Ben & Timmy Index).

Koffieshop's picture

Ben & Timmy's:

Free icecream with the purchase of one AAA rating!


HelluvaEngineer's picture

Too bad they killed off Seal Team 6, bitchez

chubbar's picture

When you say "they" I hope you are not implying any nefarious actions by the US of A? They found and interviewed the Al CIAda operative like 48 hours after the incident who described in detail his actions and how surprised he was that the grenade actually landed in the copter. I mean really, how much more proof to you need that this was completely unforeseeable? Just a terrible act of war, please move along.

pods's picture

So if they say they will downgrade after a budget gets passed, does this mean never?  Or do continuing resolutions count?


Prepared's picture

what the hell is holding silver to it's knees???

T-roll's picture

I think silver is stuck between it's role as money and as a commodity.  I believe silver will see a correction in the near term, then rebound and play catch up with gold. 

vast-dom's picture

Silver needs to break $40 and the $45 and she will go off off and away. But first we need SP under 1100 and DOW under 10K which we may see by Aug25. And then..............and then....................

pods's picture

No worries, once the large scale "kinetic action" is undertaken on old Hugo, silver will be in high demand as an industrial metal.  

What is it, like 8 kg per missile?


Smiddywesson's picture

The same thing holding up this rotten excuse of a market, Uncle Ben.  Silver goes nowhere until gold goes verticle and Ben ends the kick the can and buy gold slowly game.  Then silver rockets to the moon.  You will get paid.

GiantWang's picture

God, I hate the end of day stock melt up . . . .

adr's picture

Someone didn't want the end of the day meltup. Nasdaq hit 117 million shares at the close. Nearly 1/7th of the days volume.

GiantWang's picture

Yeah bu ES gained something like 12 points in the last few minutes of trading.  Ridiculous.

Azannoth's picture

Something tells me S&Ps (top echelon) will all spontaneously decide the hop onto 1 plane or helicopter that than will suffer an unexplained technical malfuntion

or maybe find themselves on a bus stuck at a rail crossing, stranger things happened

or maybe they will just all spontaneously self combust ;)

Young Buckethead's picture

Or S&P is part of the plan. Deflate the balloon slowly, a carefully measured descent, so it doesn't get out of control of it's masters. Daily maneuvering for profit until it's time to implement the Final Solution.

The appearance of a fight with Barry, a Warren Commission in Congress, carefully controlled by that great disaster controller Grassley. Wait, wait until it's, just about, boom, it's gone. He's the best there ever was.

Meredith will be proven right, for all the wrong reasons.


Smiddywesson's picture

Don't forget that beating up S&P attracts votes from sheeple.

slaughterer's picture

Young Bucketheead, you have the best mind for involuted conspiracy on ZH.  Want to fondle my tits?

falak pema's picture

I don't see the link. Are your tits involuted arsenic fountains, occasionaly covered in old lace?

Little John's picture

SMART CHICKS PARTY ticket for 2012

WARREN / WHITNEY (with Baer at treasury)

ya'll with me on this?


slaughterer's picture

Where does Bachmann play into this?  Oh, I forgot, she is not a smart chick.  

shazbotz's picture
"Buy The Dip": If You Want To Lose Your Life Savings!!!


apberusdisvet's picture

Can we sell CA to Mexico and Il to Canada?