The FINal Countdown
UPDATE 3: C -9.7%, BAC -9.3%, MS -7.1% & CDS blowing too in Financials (GS +60 at 387bps, MS +53 at 547, BAC +34 at 451, C +32 at 347...and Insurers (AIG +70 at 540, HIG +45 at 465, MET +27 at 390, PRU +35 at 340, and BRK +20 at 270)
UPDATE 2: Citi, MS, and BofA all down 8%!!!
UPDATE 1: Citi, MS, and BofA all down over 7% now, XLF -3.5%!!
In the last hour, financials have accelerated to the downside very rapidly. It seems perhaps that the credit markets were on to something and now equities are realizing that something is definitely worrying market professionals.
MS -5.7% at $12.7 (from highs just above $14 this morning as Cramer recommended).
BAC -4.75% at $5.82 (lows since MAR09)
GS -3% at $91.7
C -6%
XLF worst performing sector -2.5% (Is Kass still renting?)
UPDATED Chart (1445ET)
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Dougie Kass' tweet last night: 'Feeling bullish'.
Was he in the middle of fucking a cow?
Damnit, there goes another keyboard.
haha shit like that should be a wake up call to everyone that most of these idiots don't have the slightest clue what is going on, and they don't realize the circle of light at the end of the tunnel is a freight train.
Smells like Lehman.
And they pompously walk to the guillotine.
CALM DOWN PEOPLE! THIS IS ALL JUST TRANSITORY! NOTHING TO SEE HERE! HEY! DID YOU GUYS ALL HEAR ABOUT DEMI MOORE AND ASHTON KUTCHER???
Damnit, only +1 possible =)
Wasnt this expected after the short selling ban in Europe?
Buffett slipped and fell in the bathtub. Not so happy with Obama about all this, but can't wait to talk with Quick about it.
So you got something against JPM that you should leave them off the list? (-4.8%).
GS bet tanked half way before Fed came in with QE
BAC might drop all the way to $1 before Fed comes in with QE3 ... year long boost just in time for elections.
CHEMICAL PLANT ON FIRE!! CHEMICAL PLANT ON FIRE!!!
Marrying plasticized corpses is old news..
Knox verdict.
File under No Connection/No Coincidence.
From the AP, 3 October, 2011, piece titled, "BofA Website Malfunctioning Again:"
"The problems began Friday, a day after the bank said it would start charging a $5 monthly fee for customers using debit cards. [ BAC spokeswoman Tara ] Burke insisted there's no connection. The delays and the home page message persisted Saturday, but Burke said Sunday that things were fine."
Five dollar fee/five dollar stock price. This material simply can't be made up.
The great meme of 2H 2011: "Everything is fine."
Best muttered repeatedly while hunched over in a corner in a fetal position and rocking spasmically.
Yeah, they have just announced a stock buyback plan to be funded by $5 debit card fees...one share per customer per month...how many shares does that work out to?
Not to worry....the iPhone 5 will save us!!!!!!!
A five dollar fee for the five dollar share, for the Iphone 5? Maybe Satan is teeing up for the Iphone 6? Or he's just 111 short.
What about Dick Bovine?
last seen with Dougie Kass...
@LarryDarrell
It's commonly known that bestiality is very common among institutional traders.
Something in the way she mooed
Attracted me like no other hereford
You're really milking this.
I keep uddering the words in my head.
These sub-threads are udderly ridiculous.
Quit trying to steer everyone in the wrong direction
you butter stop talking like this, it gets too creamy...
Something in the way she mooed
Attracted me like no other hereford
Did you know that in 1964 Julie Andrews was passed up for the role of Eliza in 'My Fair Lady' because she wasn't a big enough star... Yet she went on to win the Oscar for Best Actress for her role as Mary Poppins that same year.
And in case you're wondering where the seemingly random association of cows and Julie Andrews came from, early on in My Fair Lady, Eliza is made to say 'In Hartford, Hereford and Hampshire, hurricanes hardly ever happen.' Of course she mangled it. The only 'H' she pronounced was the non-existant one at the beginning of 'ever.'
Don't ask...
Audrey Hepburn was bigger box office and more beautiful. Singing has nothing to do with Hollywood musicals. : o )
"Herd on the Street."
That's why it's a bull market when their feeling bullish, because everyone is getting steerfucked!
moooooooo........
that's hard for a bear to do!
the financials may be just putting in an oversold bottom-painting so we can get back to "risk on!" tomorrow...
don't forget tyler's volatility play & think about buying a few "inexpensive calls" just in case! the damned banksters can't sell any loans, so it's fees & market volatility till zirp gets zapped. and we may have less than 365 shopping daze left until...
...the next election, BiCheZ!
Slewie, I was disposed! porcelain GOD. Just joking. Keep that avatar! It is you, and I like it! +1
Was he in the middle of fucking a cow?
I laughed so hard when I read this. Thanks man for making my day:)
I regret not buying a put on MS early this morning as I was thinking of letting it bounce up in the channel before doing so. Alas....missed my opportunity. Although my BAC Nov 7.5 puts are doing smashingly (bought as soon as Buffet put in his 5B....thx Tyler)
Ha -- saw that one last evening as well. Laughable.
http://www.youtube.com/watch?v=WKcA5BLnpZo
To the FAZmobile!
...and here comes the fucking 3:00 pm rally
Yup, you got that right.
More news to pivot on.
SKF bitches
Word? Aside from the potential bank-runs on two continents, flaming CDS spreads, horseshit rumors, retarded monetary policy what could possibly derail this bull "market"?
"The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own. We make the rules, pal. The news, war, peace, famine, upheaval, the price per paper clip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it. Now you're not naive enough to think we're living in a democracy, are you buddy? It's the free market. And you're a part of it. You've got that killer instinct. Stick around pal, I've still got a lot to teach you. "
- Gordon Gekko, 1987
Sounds like the pep talk on day one for GS recruits.
GS trains by the dozen these days, not 1 on 1 mentoring.
http://www.youtube.com/watch?v=fIahSogFOAM&feature=related
Jim Young:(comes walking in to a room full of potential new hires): Sorry man, this is my seat
Man: Oh shit, I'm so sorry.
Jim Young: It's ok, don't worry about it
Another Man (looks at the first man getting out of the chair):...fucking dumbass!
Jim Young: Get the fuck outta here! Don't talk to me, don't look at me, just pick your ass up out of that Italian leather chair and get the fuck outta this room! come on let's go schlep rock...out!
Jim Young: Okay, before we get started, I have one question, has anyone here passed a Series Seven exam?
Man: (raises his hand) I have a Series Seven license.
Jim: Good for you. You can get up too.
Man: What? Why?
Jim: We don't hire brokers here, we train new ones. That's it Skippy - pack your shit, let's go. (the man leaves)
Okay, here's the deal, I'm not here to waste your time.
Okay, I certainly hope you're not here to waste mine, so I'm gonna keep this short. Become an employee of this firm, you will make your first million within 3 years.
Okay, I'm gonna repeat that, you will make a million dollars, within three years of your first day of employment at J.T. Marlin. There's no question as to whether you become a millionaire working here. The only question is, how many times over.
You think I'm joking....I am not joking.
I am a millionaire. It's a weird thing to hear, right? Lemme tell ya, its a weird thing to say: I am a fucking millionaire. And guess how old I am...27, you know what that makes me here? A fucking senior citizen.
This firm is entirely comprised of people your age, not mine. Lucky for me, I happen to be very fucking good at my job or I'd be out of one. You guys are the new blood. You are the future swinging dicks of this firm. Now you all look money hungry and that's good.
Anybody who tells you that money is the root of all evil, doesn't fucking have any. They say money can't buy happiness. Look at the fucking smile on my face! Ear to ear baby! You want details, fine. I drive a Ferrari 355 Cabriolet. What's up? (he slides his keys across the long boardroom table) I have a ridiculous house at the South Fork. I have every toy you could possibly imagine. And best of all, I am liquid.
So now you know what's possible, let me tell you what's required. You are required to work your fucking ass off at this firm. We want winners here, not pikers. A piker walks at the bell. A Piker asks how much vacation time you get in the first year. Vacation time? People come to work at this firm for one reason, to become filthy rich, that's it. We're not here to make friends, we're not saving the fucking manatees here guys.
You want vacation time, go teach third grade at a public school.
Okay, first three months at the firm are as a trainee, you'll make 150 dollars a week. After you've done training, you take the series seven, you pass that, you become a junior broker and you're opening accounts for your team leader. You open forty accounts you start working for yourself, the sky's the limit. A word or two about being a trainee, your friends, parents, other brokers, they're gonna give you shit about it, it's true, a 150 a week, that's not a lot of money. Pay them no mind. You need to learn this business and this is the time to to do it.
Once you pass the test, none of that's gonna matter.
Your friends are shit. You tell em you made 25 grand last month they're not gonna fucking believe you. Fuck them! Fuck 'em!
Parents don't like the life you lead. Fuck your mom and dad. See how it feels when you're making their fucking Lexus payments. Now go home and think about it.
Think about whether or not this is really for you. If you decide that it isn't, listen, it's nothing to be embarrassed about. This is not for everyone.
But if you really want this, you call me on Monday and we'll talk. Just don't waste my fucking time......
Okay, that's it.
That is a Shark.
Only a few will emerge from Training with tools to work towards becoming a Shark too.
The rest will go back home to whatever they came from.
It would be best for these newly graduated trainees to stay on 150 a week and roll the income over that into something worthy against a uncertain future.
STFD! Also buy silver.
here's the soundtrack:
http://www.youtube.com/watch?v=9jK-NcRmVcw
minus is the new plus!
Down-voted for truth.
CNBC anchors are going to sit on the ceiling and broadcast upside down. From that position everything is bullish.
I will only watch CNBC again if their hot anchors engage in a threesome on air and live.......although I am bummed that Erin is gone.
Erin has let the s(T)inking ship bubba!
European Lehmand event imminent, not many want to be left holding the bag.
How does Kramer keep his fucking job?
Every circus needs a clown.
Frankly, the Squawk Box Troupe needs a new morning theme...
http://youtu.be/T36xr8_Ha7I
Same way Liesman, Pisani, Burnett...-wait wait... Cramer? or Kramer?
Because there's no charts of economist's performance.
Imagine if Kramer, Bernanke, etc had graphs of their right/wrongness.
as judged by?
That shit would be asymptotic on the -y field...
"Well, I guess I don't buy your premise. It's a pretty unlikely possibility. We've never had a decline in Fed accuracy, shown on charts, visible to the public, on a nationwide basis. So what I think is more likely is that disclosure will slow, maybe stabilize: might slow the awakening a bit. I don't think it's going to drive the economy too far from the status quo, though." - Bernank
He said this morning that MS was an iron clad lock of a buy, and I KNEW he would eat his words. I did not know he would eat them on this same day. How does one go about getting an options account? I need to get in on the put action.
is there a short selling ban on these bank stocks right now???
This may be the day reality sets in for equities.
Breaking strongly below S&P 1110 would be bad news for the 3Bs (bulls, bernanke and 'bama)
Don't forget C 23.97 1.65 (6.42%)
Could be an interesting afternoon - Dollar, Bonds, and VIX breaking to highs... Stocks breaking towards lows...
Going to be a bad day even with a close at these levels... But new lows are obviously close. I don't think we're ready for the next waterfall...but I'm not playing any bounce either...
ZEROHEDGE & Tyler ROOOOOCKS.
But, but, but the ISM figures?
"Everyone Lies" - House
What is going to be the 2:00 rumor to pop this baby back up?????
Or is hitting S&P 1100 going to be enough to send the Algos into the mother of all buying frenzies?
I'm sorry sir your wife is dead, doctor we've got a heartbeat, wait no, wait yes, no, yes, no.....
FUCK IT I'LL KILL HER MYSELF OUT OF THE WAY!!!!!
Another EURO kinda-sorta-maybe-in a way bail out should do the trick
Or not
Uncanny. Just before 2:00, the markets popped off their lows. Still way down, but the Dow has gained back at least 25 percent of its losses.
The protesters have pulled all their money out of their 0.501k.
I´ve seen photos with Stiglitz "supporting" the protestors.
"Lasciate ogni speranza"
There is something oddly similar about these Columbia professors, beside that they all need a visit to the fat farm.
http://en.wikipedia.org/wiki/Joseph_Stiglitz
http://lwn.net/Articles/426904/
What are the colors of the Columbia atheletic department, Red and Red?
What is their top varsity sport, Chess or maybe Slowpitch? I don't think Kickball is a collegiate sport.
Although sometimes their reasonings are pertty close in demagogy, populism and Swiss flag main colour, I feel a little bit more comfortable with "free software" Moglen than with "hidden statism Third Way" Stiglitz
The bond market never lies.
Ah, the smell of burning Fiat in the morning! It gives me a PM erection!
something to freak out about maybe ? Could 011011011 = 11/11/11 = 666 =
http://www.youtube.com/watch?v=jqALdkTArqs
http://www.youtube.com/watch?v=hp6a3F7IOP4
freaky
Been doing some research into the October selling season and the astrological aspect and how they relate.
After a few hours of anguish, it appears that the new moon in October on the 26th could be a blow to equities. There was a study done by someone who posted a formula on here a while ago and basically the jest of it was subtract 55 hours from the 26th of October and that is the timeframe for the most probable market crash. That puts us on a Sunday, so not sure how that enters the equation.
Will be interesting to watch. I'm not sure if I believe it myself, so we'll see.
I think you've misused the word "research"...
not in the "government paid" sense of the word...
He did say the "jest" of it.
Comet elenin closest to earth on october 16th @ a distance of 0.234AU* so i would imagine we will be blowing equities a tad earlier than the new moon old boy.
*(Astronomical units not grams of gold)
Multiply all those number by zero and you find out the value of such an analysis, if that's what you want to call it, but to each his own.
WHERE. THE. FUCK. IS. IQ45?????????
this thing is nowhere near over until bulltard morons like that guy have totally capitulated and are begging for mercy.