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FT Causes Massive Short Squeeze With Mother Of All End Of Day Rumors
Here are the key selected sections from the FT story that sent the Dow Jones soaring 400 points from its intraday lows: "Although the details of the plan are still under discussion, officials said EU ministers meeting in Luxembourg had concluded that they had not done enough to convince financial markets that Europe’s banks could withstand the current debt crisis... “There is an increasingly shared view that we need a concerted, co-ordinated approach in Europe while many of the elements are done in the member states,” Olli Rehn, European commissioner for economic affairs, told the Financial Times. “There is a sense of urgency among ministers and we need to move on.” Mr Rehn cautioned that while there was “no formal decision” to begin a Europe-wide effort, co-ordination among EU’s institutions – including the European Central Bank, European Banking Authority and the European Commission – on necessary measures had intensified." So, there is .... nothing definite, just more speculation, more rumors, and more innuendo. But hey, it worked last week with the Liesman rumor. It obviously would work for the FT which has become the End of Day rumor source du jour, first with China bailout rumors (since denied), then with recapitalization rumors (denied), and now with this joke. Pathetic.
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it's all good, GS puts just got real cheap, back up the truck
thank heavens the markets came to their senses and reflected all that good news!!!!!!!!!!!!!!!
Amen, kito! I'm long champagne and confetti!
how about this rumor,
china unloads massive supply of treasuries this afternoon in response to capitol hillbillies and the equity market takes the dollar plunge as a green light???
I like it.
Not bad
"se non e vero e ben trovato"
Yours makes more sense than the FT story.
“Education is dangerous - Every educated person is a future enemy”
-- Hermann Goering
So the news story is posted at 3:18 and that exact second the market turns up nearly 50 points and within ten minutes it is up 110?
I like how the market can go up over 100 pints on the same volume level that brought it up less than 10 points all day. The headline says EU minters look at bank aid plans. The Algo systems must have been programmed to buy massively on any headline than has the key words EU Aid.
So of course there will be no SEC investigation. Hopefully Nanex can pull up some garbage. If this would have been a 375 point drop in 45 minutes you know there would be endless calls for investigations, fat fingers, flash crash probes.
So the banksters pull out all the stops to hit the short stops, but cannot create any real jobs or get the economy growing for ordinary people!
If they were to put in as much effort as they do to keep the rich even richer on the back of scams and lies, if only they would do something in a proper manner then everyone would be so much better off and in the long run so would the rich too.. .but they are so scared about losing a few million (and a minute percenage of their wealth) they don't want the poor to have anything
Rallies are transitory.
or this rumor,
belgium and france to sell gold to india in return for onions
I heard it was tulips.
You can eat onions....
We'll be eating tulips 'ere long.
You can eat tulips as well. They are quite nutritious, but pricey.
You can admire them before you eat them. They serve both as appetizer and main course to the same table. : o)
Even the SNAFU is SNAFU'd
If you run out of printer Ink -- just digitize the rumour mill. Seems effective.
MS is a $25B market company and had a 25% range on the day, APPL the largest SP500 market cap stock had about a 10% range on the day.
Unprecedented events are occurring with increasing frequency.
So put your mantle on and give us some of your thoughts. I know you won't unless asked.
VIX stall;crack me up.
maybe ms's special relationship came with a little swf injection trigger point, 11.60 maybe
That was the most violent short covering rally I have ever seen...Fucking insane.....That could not just be a rumor,,,had to be a few other things.....like a washout. That was nuts.....I bot Goldman at 89 and sold it at 93 in 30 seconds......
That was the most violent short covering rally I have ever seen...Fucking insane.....That could not just be a rumor,,,had to be a few other things.....like a washout. That was nuts.....I bot Goldman at 89 and sold it at 93 in 30 seconds......
Here's my question...what besides short covering powers the market higher? Non-existent retail investors? Hedge funds with record redemptions? Mutual fund managers who have seen monthly contributions dwindle to a trickle? No QE3...so where's the fuel to power this rocket?
Fuck 'em. They let me put a couple of stupid money trades on S&P 900 Oct Puts. Wankers one and all.
Keep those, you'll be happy you did.
I took it to mean he sold them.
And Moody's just downgraded Italy with a negative outlook...
The fun just never stops.
Greece 1 year's a STEAL at 135%!!!!!!!!!!!!
TD posted yesterday about 10/3/08 and 10/3/11 identical closing prices on SnP of 1099.22
At 3:10pm today on most of my charts all markets turned skyward, inverting themselves...
Anything to this? - we know these criminals signal each other publicly
maybe god came to lloyd in a nightmare during his afternoon siesta
"Moody's Downgrades Italy's Government Bond Ratings To A2 With A Negative Outlook"
Enjoy.
Happy, happy days, 2008 is here once again, amplified by the magnitude of stupidity of the average head in the herd.
Bucket with no bottom... eh fellas?
Spring coil reloaded. Arrow pointing down.
The People's Front of Judea comes to mind.
http://www.youtube.com/watch?v=hUBAx8jbYNs&NR=1
http://www.youtube.com/watch?v=gb_qHP7VaZE&feature=related
A four hundred point move in the stock market means that late in the trading day a mere rumor of a vague possibility that something might be done in future, too little too late, was enough to see "investors" plow well over one trillion dollars into US equities. That late day advance added about 1.2 trillion to the total market cap, I think the Euro news was a BS excuse, it was bad economic data out of the US that has the financial players slavating for a real QE3 and not some twisty hopey thingy the Fed wants to do. They know that QE3 is tantamount to a taxpayer funded check to their personal accounts in the trillions and nothing short of that will light their fires.
maybe the iphone 4s will come chocolate covered and infused with all the b vitamins and extra calcium
Dammit. Cramer had already loaded his pillow and sleeping bag into his car... And then this freakin bi-polar rally. Oh well, there is always tomorrow.
Who cares about logic or reason? Momos just want to rally!
Momos just want to have fuu-unnn!
Check out all the banks at the end of the day, massive erections. Most with 8% moves or more.
Something more than a EU rumor is going on behind the scenes.
Was that the fastest bear ever?
ft.com
it turns out dexia will be able to buy up all the toxic debt around the world in the siv for 100 cents on the dollar
I think you nailed it. Headline driven HFT games.
We dont need no water!! let the mother fucker burn!
burn mother fucker!
BURN!!!!!!!!!!!!!!!!!!
Market was as oversold as it gets.
Here is some "market trivia" worth noting:
-1666 TICK yesterday
-1497 TICK today
20 of the last 22 trading days saw TICK readings of -1250
http://stockcharts.com/h-sc/ui?s=$TICK&p=D&yr=0&mn=6&dy=0&id=p37322057532
Some of the epic reversals in names like MS, XOP, etc will go down in the history books as one of the greatest bottoms of all time.
Of course you would say that now. This squeeze is big enough and obvious enough to bring Wanger out. Where's he at?
A 2012 tick will be the curtain raiser. Got popcorn?
how many times have you called the bottom now?
you should consider a career as a penny stock promoter. considering your panache for putting gobs of lipstick on the ugliest possible pigs...you would do quite well.
Also, since most people that listen to penny stock promoters are clueless idiots, they might even think you were "smart"...unlike here, where you just come across as a clueless idiot.
You spelled "nothing" wrong.
There is no correlation between the two events… only the perceived correlation sold by the media. This is what the business news channels and WSJ are in business for, to give us “reasons why”; almost every article written by WSJ/Bloomberg follows the “this happen because of that” format. Most of the time the two events have no connection at all, but controllers know people need to have a reason so they can sleep at night. Truth is expressed only when convenience, what’s believable is more important. The market was propped back up late in the day for headlines control and more wealth transfer from the poppy fields.
Agreed. You just explained why Bob Pisani has a job. Of course, in 5 years when everything is HFT - I guess Maria will have to interview an IBM server...
This market is just not listening to Germany. There will be no more bailouts. They're done. And they're printing DMs in preparation.
Source on the DM remark? or ... are you just pulling an FT?
Google "deutsche mark printing" and sort by time.
well, at least moodys is downgrading italy
an investigation into Moodys business practices will be hence forth coming.
Raids on their offices will commence in 3...2...1. Sorry if I infringed on a copyright Tyler.
people, this is QE3!!!!
Latest rumor: in his fight against online gambling, Obama is looking into closing nyse.com.
how about this rumor,
greece owns the origins of democracy and will mortgage it back to the west and sell it to the east for trillions,
even offers it to mineral rich Afghanistan in return for all the mining rights-requires jpm put the deal together and requires US to sell them billions worth of invisible tanks and nukes with proceeds
These kind of days are the reason I always have stop in place.
2 HFTs overheard in a bar -
"Yep, made a dollar today."
"So you were the one on the other side of my 10,000 trades!"
Derivative dy = 3 r squared dr over 3, or r squared dr
=RDRR
european officials get together and issue a joint statement: the efsf now stands for
every fact suspension force
market rejoices
This isn't even fun to watch anymore....it's sad.
Aliens arrive, provide new free energy source. market down.
Aliens arrive, 29 cities destroyed. market up.
Bud Fox is not returning my calls. And there's lots of activity over at Jackson Steinem & Co.
Sooo...
Does Mr. Rehn speak slovak?
european authorities set to rezone nation states. westphalia region to become a new "bad sovereign" solution
More dynamics of destruction
Wall street is saying F you to everyone.If you fuck with gangsters ,they will come for you one way or another.You all know this.
Oligarch wars and we the people are in the middle.
Remember >never tell the enemy what you are going to do..do it.
And on another note
where are the supposed oath keepers? up in hot air ballons? I see no upholding of the constitution in this country or freedom of financial terrorism or anyone righting the universe of wrong.
So my message to you oathkeepers...Your full of shit.
Where is your support of we the people.Show me, tell me then prove it.What support have you given to protesters...you have to let kids try to do your work and their minds be taken over by acorn and celebs and anyone looking to use other peoples misery to get their face in the mix and do absolutely nothing but spout shit.
Gee, if we get crap like this on a regular basis for a few more days, I wonder what the VIX will be next week?
Hmmm...
This FT article has no substance at all - it has zero news and 100% speculation on the future. Just wishful thinking. How can garbage like this move markets, is beyond belief. Germany is done with bailouts. Who is going to step in - France? Give me break.
italy to create bunga bunga jet-set party town, vips pass beyond the velvet rope for a million dollars a pop or 1 billion for a lifetime membership.at 3pm pre-sale is reported as a giant success when the 10 million person capacity sells out in 45 minutes. silvio promoted to doorman
rumor
snb sterilizes reserves by buying fas
Here is what I think..
http://www.youtube.com/watch?v=RFZrzg62Zj0&NR=1
Quit yer whingin! The S&P500 only moved 4.5% (aprox.) in about 45 minutes (ok, that's not exact either but the symmetry makes for a better story). At 10bps per minute, that's a rate of %6 an hour, 39% a day or 195% a week. That oughta put a lid on all of the naysayers out there that the FED is out of bullets. Take that, Governor Perry.
This wasn't a short covering rally my friends. More like the second coming.
Oh, and please do not forget, if your brain is still functioning after that one. The Bernank told us he was not out of bullets earlier in the day. Listen to the Bernank. Don't fight the FED. Resistance is futile. Check your brain at the door ...
See, now that's trolling.
I'd bet the plan is simply nationalizing real bad banks and making sure major banks stay afloat. Dexia case will be followed closely.
Sovereign bond holders will get volunteered one way or another, like "Take voluntary 20 percent hit or take 60 involuntary". Austerity measures will be hard but what is the alternative, US style "Who cares, just print more money"?!
I don't think one can blame the FT for reporting flatulance from the mouth of a broken Euro Zone.
If Ollie want's to talk shite.
Ollie will talk shite.
Nothing new there.
The Cult of Criminality is alive and well and they are going to fuck your sons and daughters wives and husbands,pets next.
And most will let them do it.After all you are watching them do it now and nothing has even slowed their pace.
Kill your radio and TV and live your life and enjoy it without all the noise.
With a live critical thinking mind prepared for anything at anytime.
When the time comes do not fear it,stand tall and live free or die.
Anyone with half a brain cell would have actually sold their remaining share portfolio with such an announcement. The problem though is that all these manouvres are nothing more than profit grabs rather than efforts to instill confidence and as a result the downward spiral will at some point resume when that lonely half of a brain cell actually finds a soul mate.
If they took most of shortsellers out, it creates a giant vacuum underneath. Next time this sucker goes down (in a day or two), there will be very few shortsellers to cover.
short squeeze my ass.
there's no more simple volume. stocks can move up and down without any covering of stocks simply because no one owns stocks anymore and the few players left are all acting in stampede fashion, this is just a sign of a massive market collapse in the works. so far , it still looks somewhat controlled. but by the time it is fully out of control, you'll know it. and the markets will be closed down due to volatility.
I must agree with you on that.
It appears to me, living in Ireland, that "they" are lying like a child fucker would lie before the child fucker fucked the child.
Maybe that's an Irish thing. Or just a Roman Chatolic thing.
Who knows?
Who cares?
One thing for sure is .........
There's going to be an awful lot of fucking of innocent people and their children.
Obama should be proud of his leadership.
I did not really like saying it Lord Welligton.
Sad reality
Yes it is sad.
I see intelligent people around me.
I think most people are intelligent.
I no longer wonder why.
People are greedy.
And if they don't start that way.
Greedy people will make them greedy or kill them.
My experience of humans to date is most disappointing.
I love these market [soars/falls] on [insert inane irrelevant news item here] stories.
Algorithms read rumours ?
It is pretty bad that reading is now the formation of a bull market. What a joke.
Maybe they should read Prechter's shit. Or even Phoenix Capital.
This story had nothing to do with the rally.
Market was massively oversold. Algos decided it was time for a bear raid to defend 1,080. Short covering rally will continue for the rest of the week unless NFP is bad.
Just because you think markets should always go down doesn't mean they will.
Economic data has been OK. We are not in a 2nd recession YET. So we will continue to be range bound - albeit now with 1,080 as the bottom support instead of 1,120.
Don't let your eternal pessimism get I'n the way of making $.
You mean just like in a Bull market the HFTs smell your money and take down bullish stocks too.
You buy the market all you want. Until this thing capitulates only fools will buy on the dream of being rich.
We have gone down for 6 months. The second bullshit line from FT or CNBC can not save the fraudulent market.
They are just looking for sucker money. So go buy the dip. LMAO on the thought of it.
Just a quick observation. Asian markets do not seem to share the same overwhelming optimism over that story. This is going to be extremely interesting to see how european markets do with it!
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