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The FINal Countdown

Tyler Durden's picture




 

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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Mon, 10/03/2011 - 13:14 | 1733656 Thunder Dome
Thunder Dome's picture

Dougie Kass' tweet last night: 'Feeling bullish'.

Mon, 10/03/2011 - 13:18 | 1733679 Larry Darrell
Larry Darrell's picture

Was he in the middle of fucking a cow?

Mon, 10/03/2011 - 13:21 | 1733702 LawsofPhysics
LawsofPhysics's picture

Damnit, there goes another keyboard.

Mon, 10/03/2011 - 13:34 | 1733732 redpill
redpill's picture

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.

 

Mon, 10/03/2011 - 13:44 | 1733792 Steroid
Steroid's picture

And they pompously walk to the guillotine.

Mon, 10/03/2011 - 13:52 | 1733832 Troll Magnet
Troll Magnet's picture

CALM DOWN PEOPLE! THIS IS ALL JUST TRANSITORY! NOTHING TO SEE HERE! HEY! DID YOU GUYS ALL HEAR ABOUT DEMI MOORE AND ASHTON KUTCHER???

Mon, 10/03/2011 - 13:53 | 1733837 Fips_OnTheSpot
Fips_OnTheSpot's picture

Damnit, only +1 possible =)

Mon, 10/03/2011 - 14:51 | 1734033 Pladizow
Pladizow's picture

Wasnt this expected after the short selling ban in Europe?

Mon, 10/03/2011 - 15:13 | 1734102 Mauibrad
Mauibrad's picture

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.

Mon, 10/03/2011 - 16:10 | 1734118 Manthong
Manthong's picture

So you got something against JPM that you should leave them off the list?  (-4.8%).

 

Mon, 10/03/2011 - 15:19 | 1734121 AldousHuxley
AldousHuxley's picture

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.

Mon, 10/03/2011 - 14:11 | 1733922 Panafrican Funk...
Panafrican Funktron Robot's picture

CHEMICAL PLANT ON FIRE!!  CHEMICAL PLANT ON FIRE!!!

Mon, 10/03/2011 - 14:34 | 1733992 Calmyourself
Calmyourself's picture

Marrying plasticized corpses is old news..

Mon, 10/03/2011 - 17:17 | 1734659 natty light
natty light's picture

Knox verdict.

Mon, 10/03/2011 - 14:00 | 1733866 Don Birnam
Don Birnam's picture

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.


Mon, 10/03/2011 - 14:54 | 1734043 Fukushima Sam
Fukushima Sam's picture

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.

Mon, 10/03/2011 - 15:34 | 1734185 pupton
pupton's picture

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?

Mon, 10/03/2011 - 14:16 | 1733936 Dingleberry
Dingleberry's picture

Not to worry....the iPhone 5 will save us!!!!!!!

Mon, 10/03/2011 - 21:56 | 1735528 Tijuana Donkey Show
Tijuana Donkey Show's picture

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.

Mon, 10/03/2011 - 17:16 | 1734651 natty light
natty light's picture

What about Dick Bovine?

Mon, 10/03/2011 - 21:28 | 1735440 Bananamerican
Bananamerican's picture

last seen with Dougie Kass...

Mon, 10/03/2011 - 13:45 | 1733800 Ted K
Ted K's picture

@LarryDarrell

It's commonly known that bestiality is very common among institutional traders.

Mon, 10/03/2011 - 13:58 | 1733862 Stochdoc
Stochdoc's picture

Something in the way she mooed

Attracted me like no other hereford

 

Mon, 10/03/2011 - 14:22 | 1733953 mick_richfield
mick_richfield's picture

You're really milking this.

Mon, 10/03/2011 - 14:35 | 1733997 tickhound
tickhound's picture

I keep uddering the words in my head.

Mon, 10/03/2011 - 14:36 | 1734001 Race Car Driver
Race Car Driver's picture

These sub-threads are udderly ridiculous.

Mon, 10/03/2011 - 15:47 | 1734232 Messianic
Messianic's picture

Quit trying to steer everyone in the wrong direction

Mon, 10/03/2011 - 17:54 | 1734758 bid the soldier...
bid the soldiers shoot's picture

you butter stop talking like this, it gets too creamy...

Mon, 10/03/2011 - 13:58 | 1733863 Stochdoc
Stochdoc's picture

Something in the way she mooed

Attracted me like no other hereford

 

Mon, 10/03/2011 - 21:04 | 1735354 JB
JB's picture

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...

Mon, 10/03/2011 - 23:10 | 1735772 bid the soldier...
bid the soldiers shoot's picture

Audrey Hepburn was bigger box office and more beautiful. Singing has nothing to do with Hollywood musicals. : o )

Mon, 10/03/2011 - 16:21 | 1734372 mick_richfield
mick_richfield's picture

bestiality is very common among institutional traders

"Herd on the Street."

 

 

Mon, 10/03/2011 - 21:57 | 1735532 Tijuana Donkey Show
Tijuana Donkey Show's picture

That's why it's a bull market when their feeling bullish, because everyone is getting steerfucked!

Mon, 10/03/2011 - 13:46 | 1733809 mt paul
mt paul's picture

moooooooo........

Mon, 10/03/2011 - 14:18 | 1733942 slewie the pi-rat
slewie the pi-rat's picture

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!

Mon, 10/03/2011 - 17:03 | 1734601 Yen Cross
Yen Cross's picture

 Slewie, I was disposed! porcelain GOD.  Just joking. Keep that avatar! It is you, and I like it!  +1

Mon, 10/03/2011 - 14:27 | 1733969 geminiRX
geminiRX's picture

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)

 

 

 

Mon, 10/03/2011 - 13:19 | 1733685 Jay Gould Esq.
Jay Gould Esq.'s picture

Ha -- saw that one last evening as well. Laughable.

Mon, 10/03/2011 - 13:54 | 1733839 RmcAZ
RmcAZ's picture

To the FAZmobile!

Mon, 10/03/2011 - 15:05 | 1734073 IrritableBowels
IrritableBowels's picture

...and here comes the fucking 3:00 pm rally

Mon, 10/03/2011 - 15:09 | 1734088 RSloane
RSloane's picture

Yup, you got that right.

Mon, 10/03/2011 - 14:56 | 1734048 BandGap
BandGap's picture

More news to pivot on.

Mon, 10/03/2011 - 17:58 | 1734805 MarkTwain00
MarkTwain00's picture

SKF bitches

Mon, 10/03/2011 - 13:16 | 1733657 GeneMarchbanks
GeneMarchbanks's picture

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"?

Mon, 10/03/2011 - 13:14 | 1733660 reader2010
reader2010's picture

"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

Mon, 10/03/2011 - 14:17 | 1733938 Mitch Comestein
Mitch Comestein's picture

Sounds like the pep talk on day one for GS recruits.

Mon, 10/03/2011 - 15:49 | 1734236 AldousHuxley
AldousHuxley's picture

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.

Mon, 10/03/2011 - 21:04 | 1735353 HungrySeagull
HungrySeagull's picture

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.

Mon, 10/03/2011 - 14:26 | 1733966 gordengeko
gordengeko's picture

STFD!  Also buy silver.

Mon, 10/03/2011 - 13:13 | 1733661 Roy Bush
Mon, 10/03/2011 - 13:14 | 1733662 Fips_OnTheSpot
Fips_OnTheSpot's picture

minus is the new plus!

Mon, 10/03/2011 - 13:44 | 1733795 NotApplicable
NotApplicable's picture

Down-voted for truth.

Mon, 10/03/2011 - 13:52 | 1733833 King_of_simpletons
King_of_simpletons's picture

CNBC anchors are going to sit on the ceiling and broadcast upside down. From that position everything is bullish.

Mon, 10/03/2011 - 14:08 | 1733908 Dingleberry
Dingleberry's picture

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.

Mon, 10/03/2011 - 14:54 | 1734045 TradingJoe
TradingJoe's picture

Erin has let the s(T)inking ship bubba!

Mon, 10/03/2011 - 13:14 | 1733663 Edward Fiatski
Edward Fiatski's picture

European Lehmand event imminent, not many want to be left holding the bag.

Mon, 10/03/2011 - 13:14 | 1733665 William113
William113's picture

How does Kramer keep his fucking job?

Mon, 10/03/2011 - 13:18 | 1733680 Ned Zeppelin
Ned Zeppelin's picture

Every circus needs a clown.

Mon, 10/03/2011 - 13:25 | 1733718 Don Birnam
Don Birnam's picture

Frankly, the Squawk Box Troupe needs a new morning theme...

http://youtu.be/T36xr8_Ha7I

Mon, 10/03/2011 - 13:18 | 1733681 GeneMarchbanks
GeneMarchbanks's picture

Same way Liesman, Pisani, Burnett...-wait wait... Cramer? or Kramer?

Mon, 10/03/2011 - 14:08 | 1733909 myne
myne's picture

Because there's no charts of economist's performance.

Imagine if Kramer, Bernanke, etc had graphs of their right/wrongness.

Mon, 10/03/2011 - 15:11 | 1734092 LeBalance
LeBalance's picture

as judged by?

Mon, 10/03/2011 - 15:11 | 1734094 Axenolith
Axenolith's picture

That shit would be asymptotic on the -y field...

Mon, 10/03/2011 - 15:50 | 1734186 tickhound
tickhound's picture

 

 

"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

Mon, 10/03/2011 - 15:41 | 1734206 pupton
pupton's picture

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.

Mon, 10/03/2011 - 13:15 | 1733669 doomz78
doomz78's picture

is there a short selling ban on these bank stocks right now???

Mon, 10/03/2011 - 13:16 | 1733671 Precious
Precious's picture

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)

Mon, 10/03/2011 - 13:17 | 1733673 PaperWillBurn
PaperWillBurn's picture

Don't forget C   23.97 1.65 (6.42%)

Mon, 10/03/2011 - 13:17 | 1733674 clones2
clones2's picture

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...

Mon, 10/03/2011 - 13:18 | 1733682 dbown1959
dbown1959's picture

ZEROHEDGE & Tyler ROOOOOCKS.

 

Mon, 10/03/2011 - 13:18 | 1733683 Cassandra Syndrome
Cassandra Syndrome's picture

But, but, but the ISM figures?

Mon, 10/03/2011 - 13:23 | 1733709 asteroids
asteroids's picture

"Everyone Lies" - House

Mon, 10/03/2011 - 13:19 | 1733688 adr
adr's picture

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!!!!!

Mon, 10/03/2011 - 13:45 | 1733797 Hippocratic Oaf
Hippocratic Oaf's picture

Another EURO kinda-sorta-maybe-in a way bail out should do the trick

 

Or not

Mon, 10/03/2011 - 14:11 | 1733925 Coast Watcher
Coast Watcher's picture

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.

Mon, 10/03/2011 - 13:19 | 1733689 Precious
Precious's picture

The protesters have pulled all their money out of their 0.501k.

Mon, 10/03/2011 - 13:47 | 1733811 Alvaro de Esteban
Alvaro de Esteban's picture

I´ve seen photos with Stiglitz "supporting" the protestors.

 

"Lasciate ogni speranza"

Mon, 10/03/2011 - 14:08 | 1733906 Precious
Precious's picture

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.

Mon, 10/03/2011 - 14:30 | 1733980 Alvaro de Esteban
Alvaro de Esteban's picture

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  

Mon, 10/03/2011 - 13:20 | 1733694 Johnny Lawrence
Johnny Lawrence's picture

The bond market never lies.

Mon, 10/03/2011 - 13:20 | 1733695 Logans_Run
Logans_Run's picture

Ah, the smell of burning Fiat in the morning! It gives me a PM erection!

Mon, 10/03/2011 - 13:26 | 1733697 scatterbrains
scatterbrains's picture

  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

 

 

 

Mon, 10/03/2011 - 13:33 | 1733755 nope-1004
nope-1004's picture

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.

Mon, 10/03/2011 - 13:48 | 1733817 Jeff Lebowski
Jeff Lebowski's picture

I think you've misused the word "research"...

Mon, 10/03/2011 - 14:06 | 1733902 MachoMan
MachoMan's picture

not in the "government paid" sense of the word...

Mon, 10/03/2011 - 15:14 | 1734103 MsCreant
MsCreant's picture

He did say the "jest" of it.

Mon, 10/03/2011 - 14:05 | 1733893 fredquimby
fredquimby's picture

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)

Mon, 10/03/2011 - 15:31 | 1734171 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

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.

Mon, 10/03/2011 - 13:21 | 1733701 d00daa
d00daa's picture

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.

Mon, 10/03/2011 - 13:58 | 1733860 IQ 145
IQ 145's picture

Buying bargains created by public panic; and aided and abetted by internet moronism.

Mon, 10/03/2011 - 14:13 | 1733915 d00daa
d00daa's picture

what, no more "this friday will close higher than last friday" calls for us clownboy??  in case you haven't noticed, any and every attempt to ramp this shit has been sold into mercilessly.

you're a bigger fade than slaughterer and momofader.

Mon, 10/03/2011 - 14:11 | 1733918 Arthor Bearing
Arthor Bearing's picture

That's right, buy the fucking dip you fucking idiots

Mon, 10/03/2011 - 14:21 | 1733951 Panafrican Funk...
Panafrican Funktron Robot's picture

What are you buying?

Mon, 10/03/2011 - 14:39 | 1733971 fishface
fishface's picture

He did edit his post...no guts what the fuck do you( IQ145) do at fightclub

said he bought BAC for 5,70 and something else I don't remember...

 

ooops sorry he's got another post below

Mon, 10/03/2011 - 14:28 | 1733977 mick_richfield
mick_richfield's picture

IQ 145  --- I think you're much more realistic than Million Dollar Bonus, and cuter too.    :-)

 

 

Mon, 10/03/2011 - 15:25 | 1734152 prains
prains's picture

IQ 0.145. =. Dipshiticus

Mon, 10/03/2011 - 14:00 | 1733869 taraxias
taraxias's picture

He's road kill. Always was, always will be.

Mon, 10/03/2011 - 13:22 | 1733705 Cman5000
Cman5000's picture

AMR Shares Down Over 30 Percent on Bankruptcy Speculation ... This is getting good

Mon, 10/03/2011 - 13:24 | 1733714 HedgeAccordingly
HedgeAccordingly's picture

drum roll pleaes......

Mon, 10/03/2011 - 13:26 | 1733723 fbrothers
fbrothers's picture

Watch, all the talking heads will be so surprised. The bad part is they really are surprised.

Mon, 10/03/2011 - 13:26 | 1733724 No One
No One's picture

i thought it was EK that moved markets, right Pisani? Why isn't the market up with EK??

Mon, 10/03/2011 - 13:27 | 1733725 Stuart
Stuart's picture

Cramer is one of the most reliable fades out there....  I love it when he picks something.   Short the snot out of it.  Easy money.

Mon, 10/03/2011 - 13:27 | 1733727 redpill
redpill's picture

PPT has been contacted and organizing a response.  Stand by.

 

Mon, 10/03/2011 - 13:27 | 1733730 walküre
walküre's picture

They're all part and partial owned by the same syndicate. Unfortunately the top of the syndicate is well protected and won't be suffering from this Depression unless "We The People" go after them directly, personally and with every intent to either throw their not-so-sorry asses in jail or go straight to Plan B. Strip them of all their assets and wealth and let them live like dogs. Three square meals is a treat for these crooks.

Mon, 10/03/2011 - 13:35 | 1733734 Money 4 Nothing
Money 4 Nothing's picture

Stop the rumor milling! This isn't 2008! this is 2011 which we have more derivatives than ever. Face it, WE are Greece X 2.

 

In the mean time, There fitting Cramer with a straight jacket and a wheelchair. Pride always comes before the fall, and he showed his this morning.

Mon, 10/03/2011 - 13:50 | 1733823 Steel_Preacher
Steel_Preacher's picture

Hold the presses..... Greece just announced they have captured a whole HERD of Unicorns, the skittles will flow freely. ECB is overjoyed.

Mon, 10/03/2011 - 14:00 | 1733870 DCon
DCon's picture

Not just Unicorns, but Unicorns that shit solid gold.

 

 

Mon, 10/03/2011 - 14:19 | 1733943 Silver Dreamer
Silver Dreamer's picture

I'd rather they shit skittles.  At least you can eat them!

Mon, 10/03/2011 - 14:23 | 1733956 Panafrican Funk...
Panafrican Funktron Robot's picture

Indeed.  You can't eat gold.  But, you can eat LULU.  GIGGIDY GIGGIDY GIGGIDY!

Mon, 10/03/2011 - 13:29 | 1733735 ghostfaceinvestah
ghostfaceinvestah's picture

So much for the MBI trade the Peloton guys were pumping a couple weeks ago.

Mon, 10/03/2011 - 13:39 | 1733775 clones2
clones2's picture

Damn... S&P wants a 1100 test ASAP!  Major markets testing recent lows RIGHT NOW...   Exciting Monday

Mon, 10/03/2011 - 16:02 | 1734292 Gief Gold Plox
Gief Gold Plox's picture

1100? Check. I just love days like this.

Waiting for someone to call gold a bubble again.

Mon, 10/03/2011 - 13:42 | 1733784 shazbotz
shazbotz's picture

BLACK MONDAY BITCHEZ

SELL EVERYTHING

TAKE YOUR MONEY OUT OF THE BANKS AND MARKETS

 

 

Mon, 10/03/2011 - 13:49 | 1733818 Dr. Richard Head
Dr. Richard Head's picture

That's so 2008.  Now I get to pick up the gold/silver dips with that capital.  It's amazing how much MORE working capital I have had over the past three years while not donating it to Wall Street cocks. 

We're gonna need a bigger safe - for the PM's that is.

Mon, 10/03/2011 - 15:05 | 1734074 Hearst
Hearst's picture

Per shitko's commentary on PM's

 

"In the silver disaggregated report, speculators exited positions on both sides of the market. They cut gross longs by 8,184 contracts and gross shorts by 249 contracts, reducing their net-long to 14,866 contracts. Producers and swap traders lowered their net-short by adding gross long and cutting gross shorts.


This is the lowest net-long position for speculators since the disaggregated report began."

They wanted everyone out of Silver before QE3 is announced..

http://www.kitco.com/reports/KitcoNews20111003DeC_focus.html

Mon, 10/03/2011 - 14:13 | 1733931 The Swedish Chef
The Swedish Chef's picture

I wouldn´t call -2,11 on the S&P500 "Black Monday". Come back tomorrow.

Mon, 10/03/2011 - 13:42 | 1733786 wombats
wombats's picture

Nana nana, nana nana, hey hey hey , goodbye.

Mon, 10/03/2011 - 13:43 | 1733788 zot23
zot23's picture

or maybe October and a new Q just began ;)  

Everything last week was pump n' dump, extend and pretend, whatever other apropo cliches I'm leaving out.  This week is back to cooking the goose nice n' slow.

Mon, 10/03/2011 - 13:43 | 1733790 Reform1776
Reform1776's picture

>>In the last hour, financials have accelerated to the downside very rapidly.

Were they propping it up for some reason until after Europe couild close? Did drop and/or US Volume coincide with anything right after Europe closed?

 

Mon, 10/03/2011 - 13:43 | 1733791 WineSorbet
WineSorbet's picture

But auto sales are surging....Channel stuffing again?

Mon, 10/03/2011 - 13:55 | 1733850 IQ 145
IQ 145's picture

Bought BAC @$5.70; bought "F" at $6.40; Sold the Long Treasuries short from 144-25, basis Dec. I just love it when all the sheeple panic in one direction. At the internet is soo helpful; because now they can all tell what they're supposed to believe in right away. How's that killing JP Morgan by buying silver dollars coming along? not too good, eh? Well, there are two possibnilities; a.)your guru was,(and is), full of shit. or b.)maybe you just need to buy more. I'm sure you'll choose b. Why, because the world is full of human beings who would rather lose significant amounts of money than to admit that they don't know what the fuck they're doing. Of course, giving the fact, that the believers in this fairy tale have never sudied the Commodities market and have no idea how it works, they suspect that they don't know anything; but this suspicion never enters the mind of the normal, non-homework doing, "believer". Isn't it wonderful.

Mon, 10/03/2011 - 14:00 | 1733871 somethingisrotten
somethingisrotten's picture

I really expected that you would have learned something by now.  With your azz ripped wide open, you should not try to catch more knives.

Mon, 10/03/2011 - 14:04 | 1733890 walküre
walküre's picture

You bought BAC. Ok. Their customers haven't been able to move any money for 2 consecutive business days and you expect that your stock purchase will be worth a penny by tomorrow?

Should have bought gold. It's clear to see where the panicked money is rushing to.

Mon, 10/03/2011 - 14:11 | 1733923 The Swedish Chef
The Swedish Chef's picture

See you at the BAC bankrupcy proceedings. Have a good one!

Mon, 10/03/2011 - 14:25 | 1733965 walküre
walküre's picture

Maybe he bought 1000 shares at $5.70.. that's $5,700 bucks. Small price to pay for the occasion and maybe even sit with Warren Buffet during the procedings. Hey, you never know!

Mon, 10/03/2011 - 16:53 | 1734554 Ruffcut
Ruffcut's picture

Hey, IQ of a five year old wants to join buffy in  the tub. He even has his own box of Mr. Bubbles.

Mon, 10/03/2011 - 14:20 | 1733946 d00daa
d00daa's picture

you paint with such a broad brush..  not bullish = pm hoarder in your mind??  lmfao!

newsflash:  bear market.  they do exist.  we are in one.  there is at least one, probably two more legs down to this thing before it's said and done.  recession is coming, q4 and q1 negative gdp imo..  market pricing it in now..

the last two months have been a trader's dream.  going long in this market intending to do anything more than play counter trend rallies is suicide.  but by all means, keep buying those dips you fucking retard!  nothing wrong with more bagholders, makes my job much easier.

Mon, 10/03/2011 - 14:27 | 1733970 Panafrican Funk...
Panafrican Funktron Robot's picture

How exactly did you manage to buy F at $6.40?  Was this an option play or did you mean $9.40?

Mon, 10/03/2011 - 14:33 | 1733988 Dumpster Fire
Dumpster Fire's picture

Bought BAC @$5.70

 

lulz

Mon, 10/03/2011 - 14:34 | 1733991 clones2
clones2's picture

BAC at 5.66 - catch that knife brother and let me know how that works out for you :-)

Mon, 10/03/2011 - 15:25 | 1734148 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

"Haughtiness before the fall."  

 

Good luck IQ!

Mon, 10/03/2011 - 17:27 | 1734694 I only kill chi...
I only kill chickens and wheat's picture

bac now 5.52 at 21:27 UTC

Mon, 10/03/2011 - 13:44 | 1733793 JR
JR's picture

Leveraging and bailout has become a stalking horse for world government. Its pattern of swallowing up sovereign countries has been the same since the Fed’s inception -- Greece, Latvia, Hungary, Iceland, Bosnia, Cote d’Ivoire, Tanzania, Indonesia, Ecuador… and the United States of America. But, now, the banks are going down. The banks are the dominoes; they can't cover their risks now, because countries are in dire recession, and unable to provide value.

Taylor Caldwell’s word for it was gangster prosperity.

Though it was the Roaring Twenties “and a Big Ball—for a few,” Taylor Caldwell’s young husband was not able to find steady work in his line as a construction engineer. “When he did, the pay was miserable.”

It was 1923.

And the remarks made then by the Captain of the Salvation Army to Taylor Caldwell, the great author of many bestsellers including The Devil’s Advocate, ring as true today, only more so. Because it’s worldwide…

As they rode through a howling blizzard to find cheap room and board for the 22-year-old Caldwell who’d left Kentucky with $15 in savings with her four-year-old daughter to find work in Buffalo, New York, the Captain said:

“You need about $25 dollars a week… There’s a depression on, you know, and I just don’t understand what all the newspapers are roaring about – saying we are so prosperous and everyone has so much money.”

Wrote Caldwell:

“That was in 1923.  There certainly was prosperity, but it was a gangster prosperity, a gunmoll prosperity, a thieves’ prosperity.  I found out later that twenty-five dollars a week was the average income of individuals and families—that is, for the honest and hard-working.  But it was indeed the Roaring Twenties for the criminal of all classes and occupations, the suspect businessman, the call girls and the stock salesmen and such.”

Caldwell was looking for a job, not “Welfare,” to pay for her first husband’s fare to the city. Said Caldwell: “He worked for a Liberal who lived grandly, and who promised wonders for the young exploited who labored for him in his (oil) fields. He would ‘invest’ their wages, he said, in ‘my growing oil empire. Nothing too good for my boys.’  In the end, he owed her husband a thousand dollars and thousands more to other innocents working for him.  So he promptly filed for bankruptcy, claiming no assets. He had everything in his wife’s name.”

Once again, the robbers are going into bailout bankruptcy and printing, depriving savers, pensioners, wage earners, and taxpayers of trillions of dollars in value that they've earned by hard work – and blaming the misery on middle-class “greed.” And, now, they are claiming the infrastructure of countries.

Mon, 10/03/2011 - 14:24 | 1733958 Renfield
Renfield's picture

JR, are you quoting from a book or article? Would love a link...

Anyway, I'll go to Google and look up where to read more. This is fascinating. I always thought the Roaring Twenties was, you know, a general (if debt-fuelled) prosperity. Had no idea at all it was so analogous to our Housing Bubble period.

Thanks for the history.

Mon, 10/03/2011 - 14:44 | 1734016 slewie the pi-rat
slewie the pi-rat's picture

check out the teapot dome scandal of '22...

military contracts, oil interests, banksters, obvious bribes to crooked pols, lies & cover-ups, and a FBI just screaming to be taken by j. edgah...

...who helped to restore confidence in law & order for the compleat takedown!

Mon, 10/03/2011 - 15:00 | 1734060 JR
JR's picture

Renfield, thanks for the interest. I’m quoting from Caldwell’s book, “On Growing Up Tough: An Irreverent Memoir.”  This quote is from Chapter 9, Pioneering in Kentucky, and depicts Caldwell’s struggles as a young mother in America while in her teens, as she faced life in the Appalachian.  Her toughness and her independence endeared her to her mountain neighbors.

It is basically a book on rugged individualism. Caldwell denounces government dependence and implores young Americans to grow up as tough as their forefathers in order to face the real world unless we "prefer the coming barbarism and the long night of death and misery.  It has happened to other nations in the past, nations like ourselves, and it will happen to us."  It is our choice.  After all, admonishes Caldwell, we let America get into this condition. "Now, help get her out.” 

Says Caldwell, “We are reaping the harvest of our own weaknesses…”

Mon, 10/03/2011 - 14:26 | 1733959 Renfield
Renfield's picture

.

Mon, 10/03/2011 - 14:31 | 1733984 Rick64
Rick64's picture

Ironic, when you go back and read the papers you can see nothing has really changed just that the game has gotten bigger and more complex.

Mon, 10/03/2011 - 13:45 | 1733796 crzyhun
crzyhun's picture

Can 60 on the Vxx be far away?

Mon, 10/03/2011 - 13:54 | 1733841 Steel_Preacher
Steel_Preacher's picture

Nope...you can smell it from here.

Mon, 10/03/2011 - 13:45 | 1733798 ziggy59
ziggy59's picture

 

As Banks Struggle, Fed Racks up Huge Profits — for Taxpayers

 

http://finance.yahoo.com/blogs/daniel-gross/banks-struggle-fed-racks-hug...

 

newscaster in canada was right!! LOL..

 

feeling wealthy yet??

Mon, 10/03/2011 - 13:45 | 1733801 monopoly
monopoly's picture

And we are safe in port during this hurricane.

AMR may file for bankruptcy. They were on top at one time. On and on. And some just call this a "crisis of confidence". To me this is a statement of the "facts".

Mon, 10/03/2011 - 13:46 | 1733805 sunny
sunny's picture

FAZ    SKF

BWAAHAAHAAHAAHAAHAAHAAHAA

sunny

Mon, 10/03/2011 - 13:55 | 1733844 Dburn
Dburn's picture

C

 

 

HAHAHAHAHAHA

Mon, 10/03/2011 - 15:16 | 1734110 IrritableBowels
IrritableBowels's picture

ERY

Mon, 10/03/2011 - 13:48 | 1733813 s2man
s2man's picture

Nobody panic.  MarketWatch headline:

"Michael A. Gayed says conditions are in place for a steady rebound"

No, I didn't bother reading it.

Mon, 10/03/2011 - 13:51 | 1733828 Dr. Richard Head
Dr. Richard Head's picture

I didn't either, butI bet I can summarize it for you.

"Lies, lies, lies, we need bag holders of these bags of shit.  Lies, lies, lies.  Discount valuations right now.  Lies, lies, lies."

Mon, 10/03/2011 - 13:55 | 1733843 clones2
clones2's picture

Just remember articles like this with arguments like "everyone thinks the markets going down, which is why it won't".

Not everyone does...  and there hasn't been major capitulation or anything even remotely scary.... YET...

Mon, 10/03/2011 - 14:13 | 1733929 LFMayor
LFMayor's picture

That is perhaps the most unfortunate name I have ever heard of.  I wonder if this guy got picked on as a kid?

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