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Goodbye 9 Handle: BTP Collapses To 89.5, Down 4.3% On The Day; Next: Bidless?

Tyler Durden's picture




 

Did we miss the announcement from Italy where it said it is following Netflix into full business model suicide? Because the 10 Year just imploded. It is now time to panic.

 

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Tue, 11/01/2011 - 08:58 | 1831421 Sequitur
Sequitur's picture

And right now on CNBC: MF Global NOT in compliance with customer segregation requirements, according to CME Group. Customers = fucked.

Assholes like ex-Goldman CEO Corzine is everything that is wrong with these bullshit markets.

Tue, 11/01/2011 - 09:00 | 1831474 paarsons
paarsons's picture

But we all know the score.

We're in the next Great Depression.  Stocks will go up and down till the next World War.

Times change but people don't.

My advice?  If you're a young man, don't join the army.

Being poor sucks.  But it's better than being dead.

http://fucklloydblankfein.blogspot.com

Tue, 11/01/2011 - 09:08 | 1831571 kridkrid
kridkrid's picture

In fact, if you are a young man, look into becoming a priest or a paster of some church somewhere that offers such a thing over the interwebz.  Not a joke.

Tue, 11/01/2011 - 09:25 | 1831728 Miss Expectations
Miss Expectations's picture

Don't get your High School or Equivalency Diploma.  Not a joke.

Tue, 11/01/2011 - 09:29 | 1831762 RichyRoo
RichyRoo's picture

most people can survive shooting off a little toe, do it near a hospital, but wait till the last minute :)

Tue, 11/01/2011 - 09:05 | 1831536 Ted K
Ted K's picture

I was going to give you your 9th + for comment, then I realized, you were watching CNBC.

Tue, 11/01/2011 - 09:10 | 1831590 Snidley Whipsnae
Snidley Whipsnae's picture

"I was going to give you your 9th + for comment, then I realized, you were watching CNBC."

....................

I gave em a +.......... an occasional report read here is far better that all of us being subjected to the CNBC bs spin machine every day, eh?

Tue, 11/01/2011 - 09:09 | 1831588 rosex229
rosex229's picture

so italian yields are blowing up, and greece is slatted to hold a referendum. there isn't much world leaders can do at this moment since the referendum will make the next 8 billion euro aid tranche useless... although they'll give it to them anyway. also concerning the g20 summit, which is really a fundraising drive for the efsf, whose going to want to throw billions into a fund thats main investments are a country contemplating hard default, and soon to be imploding italian bond market. the italian bond market is the 2nd largest on earth,  the efsf hasn't actually been leveraged yet, and at this point cant possibly raise the sums of money they'd like to from foreign investors. looks like they're stuck with whats left of the recently approved uly 21st amount in the efsf, which is no where near enough for italy. whats worse, if they use those funds before they leverage the efsf they'll only have a few dozen euros left to leverage... uh oh

Tue, 11/01/2011 - 09:50 | 1831920 criticaster
criticaster's picture

Quite right. How can anyone seriously believe that people are going to invest in the EFSF against this backdrop. This whole thing is screwed on so many levels.

Tue, 11/01/2011 - 09:50 | 1831922 criticaster
criticaster's picture

Quite right. How can anyone seriously believe that people are going to invest in the EFSF against this backdrop. This whole thing is screwed on so many levels.

Tue, 11/01/2011 - 09:12 | 1831617 Mike2756
Mike2756's picture

Adding fuel to the fire today. The Bernank just needs to step back and let it play out, he's not going to stop it.

Tue, 11/01/2011 - 09:24 | 1831719 sunnydays
sunnydays's picture

Research on MF Global - including them saying they don't comingal clients money.  Cramer is on CNBC defending Corzine tremendously! 

They advised the G20 and invested Chinese governments money.  Ranked number one on Comex, MF Global was huge.  

http://sherriequestioningall.blogspot.com/2011/11/mf-global-stole-hundre...

Tue, 11/01/2011 - 09:31 | 1831774 disabledvet
disabledvet's picture

he'd better start talkin'.

Tue, 11/01/2011 - 10:37 | 1832174 mirac
mirac's picture

roll out the Guillotine...

Tue, 11/01/2011 - 08:54 | 1831423 achmachat
achmachat's picture

tuesday, bloody tuesday....

 

edit: then again... we knew things are broken. We were just waiting for the moment somebody tells the emperor he's in his undies...

Tue, 11/01/2011 - 08:56 | 1831457 CClarity
CClarity's picture

They call it Day of the Dead for a reason - Dia del Muerto, Dan Mrtva, etc . . . Wonder if the Italians and Greeks "celebrate" it.

Watch the long end Treasuries and FX for the big votes, PMs for liquidations.  Even nat gas giving signals.

Tue, 11/01/2011 - 09:01 | 1831492 Ghordius
Ghordius's picture

"Wonder if the Italians and Greeks "celebrate" it"

Yes, nobody in the office in Italy. Hence no italian market.

Tue, 11/01/2011 - 09:09 | 1831584 srsly-wtf
srsly-wtf's picture

From now on everyone wears their underwear on the outside to preserve our precious bodily fluids!!

Tue, 11/01/2011 - 09:09 | 1831586 Joeprimo55
Joeprimo55's picture

November 1st - Another Paradody of the day

"The Day the Euro Died"

 

Tue, 11/01/2011 - 08:53 | 1831427 littleguy
littleguy's picture

brace brace brace... forget it eject eject eject

Tue, 11/01/2011 - 09:08 | 1831573 Yamaha
Yamaha's picture

Don't eject - buy FUE! Stands for F you Europe....

Tue, 11/01/2011 - 09:12 | 1831613 nonclaim
nonclaim's picture

I like this one (1m5s), very calm "oh shit":

http://www.youtube.com/watch?v=gf5q2LF5Qz8

Tue, 11/01/2011 - 08:53 | 1831428 1835jackson
1835jackson's picture

Wow....shite is now hitting the fan.

Tue, 11/01/2011 - 08:53 | 1831436 littleguy
littleguy's picture

Not even a proverbial fan. The ACTUAL fan.

Tue, 11/01/2011 - 09:03 | 1831515 LawsofPhysics
LawsofPhysics's picture

Bullish for fan repair men and my manure piles.

Tue, 11/01/2011 - 08:53 | 1831429 cossack55
cossack55's picture

Cue Hugh Hendry.

Tue, 11/01/2011 - 08:56 | 1831458 sagerxx
sagerxx's picture

"I suggest you Hendry."

Tue, 11/01/2011 - 08:53 | 1831433 lizzy36
lizzy36's picture

Ben is firing up the printing presses.

QE3,4 and 5 to be announced concurrently.

Also WWIII.

Tue, 11/01/2011 - 08:54 | 1831442 cossack55
cossack55's picture

WW3. Cool. Who is playing for which team?

Tue, 11/01/2011 - 08:59 | 1831479 HelluvaEngineer
HelluvaEngineer's picture

I call dirt farmer!

Tue, 11/01/2011 - 09:04 | 1831527 Note to self
Note to self's picture

I'm long dirt myself!

Tue, 11/01/2011 - 09:02 | 1831498 i-dog
i-dog's picture

I'm transitorily busy ... can someone take my place? Thanks.

Tue, 11/01/2011 - 09:03 | 1831517 DormRoom
DormRoom's picture

team OWS.

Tue, 11/01/2011 - 09:17 | 1831655 kridkrid
kridkrid's picture

The bankers will decide for us.  It will then be up to the "intelligence" agencies to tell us what the ism is that we are at war with.  It will then be up to the media inflate said villains.  Our job is to get really scared and very patriotic.

Tue, 11/01/2011 - 09:38 | 1831816 daily bread
daily bread's picture

also ... vote for the next puppet POTUS

Tue, 11/01/2011 - 09:11 | 1831602 srsly-wtf
srsly-wtf's picture

Very bullish for ink and paper....

Tue, 11/01/2011 - 09:14 | 1831632 ElvisDog
ElvisDog's picture

QE3,4 and 5 to be announced concurrently

Really? And the money goes to Europe? Because that's where it's needed at the moment. Italy will need at least $1T to fill the sinkhole that is opening up below it. You think Ben Bernanke, and by extension Barack Obama, is going to go forward with a $1T loan/gift to Italy 12 months before the elections? I think not.

Tue, 11/01/2011 - 09:23 | 1831699 kridkrid
kridkrid's picture

This doesn't have anything to do with Barack Obama.  The central bank will do what it wants to do.  If it wants TSTHTF now, it will use "politics" as cover to not move forward with QE3, 4, 5, etc... Our political system is designed to keep 300 million people in the dark over who has real power.

Tue, 11/01/2011 - 09:59 | 1831970 ElvisDog
ElvisDog's picture

Whether it really does or doesn't is irrelevant because it's perceptions that matter. During the debt ceiling standoff, the Republican/Tea Party claim was that Obama and the Dems were irresponsible with government spending and the deficit. Now fast forward to the present and Bernanke is goign to funnel hundreds of billions of dollars overseas at a time of massive deficits, high unemployment, and reductions in government services? How do you think that is going to play out domestically? Obama will have to take a stand for or against this new bailout because he is the President and because he nominated Bernanke for another term as Fed chief.

Tue, 11/01/2011 - 11:20 | 1832406 kridkrid
kridkrid's picture

My point on politics being the way to keep 300 million people in the dark... everything you paint there is the theatrics around which levers are created to pull when needed.  I tend to lose a lot of people when I go here... because, quite rightfully, anything can be painted in to fit the conspriratorial landscape.  And to be sure, I don't believe everything is closely choreographed.  For example, I don't know that I believe the Tea Party was 100% created to be the tool of the banker's austerity movement... but somewhere along the line it became that.  The Tea Party has been corraled to the point where it can be used. 

At the end of the day, if they ask Obama to take a stand for the new bailout and for QE3, 4 and 5, Obama will do the job asked of him.  Just like the dove-ish candidate has become an uber-hawk president.

Tue, 11/01/2011 - 08:58 | 1831435 Zola
Zola's picture

The emissary from Barrosso came and he was thrown into the well ... 

Tue, 11/01/2011 - 08:54 | 1831438 Yellowhoard
Yellowhoard's picture

It's OK Greece is going to bail them out.

Tue, 11/01/2011 - 08:54 | 1831439 ghengis86
ghengis86's picture

In before rule 48

Tue, 11/01/2011 - 08:54 | 1831440 Irish66
Irish66's picture

All souls day or all saints day

Tue, 11/01/2011 - 09:06 | 1831550 Rockfish
Rockfish's picture

All Saints Day

Tue, 11/01/2011 - 08:54 | 1831443 lizzy36
lizzy36's picture

You know who doesn't have a halloween hangover: KYLE BASS

Tue, 11/01/2011 - 08:54 | 1831444 Note to self
Note to self's picture

Money - Its a gas

Grab that cash with both hands 

and make a stash

Tue, 11/01/2011 - 09:04 | 1831532 snowball777
snowball777's picture

Money so they say
Is the root of all evil to-day

Tue, 11/01/2011 - 09:07 | 1831552 Note to self
Note to self's picture

EVERYBODY SING!!!  New car caviar, four star daydream . . . 

Tue, 11/01/2011 - 09:41 | 1831840 disabledvet
disabledvet's picture

think i'll buy me a football team!

Tue, 11/01/2011 - 10:06 | 1832012 Falcon15
Falcon15's picture

Money
Well, get back
I'm all right Jack
Keep your hands off of my stack (of phyzz)

Tue, 11/01/2011 - 09:25 | 1831729 TruthHunter
TruthHunter's picture

Actually its "the LOVE of money" thats the rood to all evil

 

Wall Street  says: ???  There's a difference?

Tue, 11/01/2011 - 09:07 | 1831560 Rockfish
Rockfish's picture

Exploit the NOW and prepare for the Future

Tue, 11/01/2011 - 08:55 | 1831446 misterc
misterc's picture

DAX -6%, epic fail.

 

Tue, 11/01/2011 - 08:55 | 1831448 Paul Thomason
Paul Thomason's picture

Waddell & Reed opened an office in Italy?

Tue, 11/01/2011 - 08:55 | 1831449 Mike2756
Mike2756's picture

wtf just happened? it was quiet last night.

Tue, 11/01/2011 - 09:12 | 1831619 srsly-wtf
srsly-wtf's picture

go back to sleep...nothing to see here...move along

Tue, 11/01/2011 - 09:13 | 1831628 Mike2756
Mike2756's picture

with the blankest over my head, lol.

Tue, 11/01/2011 - 08:55 | 1831450 Flounder
Flounder's picture

Its transitory.

Tue, 11/01/2011 - 08:56 | 1831455 vegas
vegas's picture

Lira here we come.

Tue, 11/01/2011 - 08:57 | 1831460 Dr. Engali
Dr. Engali's picture

Well this will definitely give Ben the cover he needs to print. Although this will probably be the final nail in the coffin of what is left of the financial markets.

Tue, 11/01/2011 - 08:57 | 1831464 RyanW525
RyanW525's picture

RIP

Tue, 11/01/2011 - 08:57 | 1831466 mccoyspace
mccoyspace's picture

What does 8 and 9 handle mean? Standard deviation?

Crazy, crazy, crazy BTW.....

Tue, 11/01/2011 - 09:01 | 1831472 Larry Darrell
Larry Darrell's picture

They are tracking the interest rate on the 10 year Italian bond.

Lower number here is bad for interest rates in Italy as the index is inverse relationship to the %.

Tue, 11/01/2011 - 09:02 | 1831499 Ethics Gradient
Ethics Gradient's picture

It means that both bid and offer prices start with an '8'.

Tue, 11/01/2011 - 09:07 | 1831559 mccoyspace
mccoyspace's picture

Got it. I was making it too complicated...... Thanks!

Tue, 11/01/2011 - 08:59 | 1831473 Note to self
Note to self's picture

Check your servers, dude.  I don't want to miss any of this today.

 

Tue, 11/01/2011 - 08:59 | 1831475 mayhem_korner
mayhem_korner's picture

 

 

The CNBC spin manual does not have a section for dual sovereign implosion with concurrent broker failure.

Cue stammering...

Tue, 11/01/2011 - 09:05 | 1831544 snowball777
snowball777's picture

And now....LOOK AT THESE PUPPIES! (may or may not refer to a CNBC talking head's bosom)

Tue, 11/01/2011 - 09:06 | 1831545 Snidley Whipsnae
Snidley Whipsnae's picture

LOL... +1 mayhem korner...

S&P futures down 37.70 or 3.02%

CNBC doesn't do multi tasking... can't decide which message to 'stay on'...

Tue, 11/01/2011 - 08:59 | 1831478 Dr. Engali
Dr. Engali's picture

Hey Robo ...whatcha buying today?

Tue, 11/01/2011 - 09:00 | 1831483 HelluvaEngineer
HelluvaEngineer's picture

new panties

Tue, 11/01/2011 - 09:02 | 1831507 mayhem_korner
mayhem_korner's picture

 

 

I was thinking double-lined, extra-absorbent Depends...

Tue, 11/01/2011 - 09:04 | 1831534 brew
brew's picture

i'd guess the euro.  big opportubity on this dip...

Tue, 11/01/2011 - 09:07 | 1831555 snowball777
snowball777's picture

BUS TICKET TO JUAREZ!

Tue, 11/01/2011 - 09:39 | 1831822 Schmuck Raker
Schmuck Raker's picture

Juarez is over-rated.

Tue, 11/01/2011 - 09:10 | 1831591 jowenchrist
jowenchrist's picture

More Preperation H

Tue, 11/01/2011 - 09:00 | 1831485 fizz
fizz's picture

6.32%...breaking out big time. Implosion!

Tue, 11/01/2011 - 09:00 | 1831489 Iriestx
Iriestx's picture

(Coming in 15 minutes) CNBC:  BREAKING NEWS -- Bernake announces $70.1t QE4  

Tue, 11/01/2011 - 09:00 | 1831490 jonan
jonan's picture

what, may i ask, exactly is a "nine handle"???

Tue, 11/01/2011 - 09:09 | 1831585 jowenchrist
jowenchrist's picture

9 basis points.

Tue, 11/01/2011 - 09:11 | 1831600 Roger Knights
Roger Knights's picture

It means the leading digit is a nine.

Tue, 11/01/2011 - 10:34 | 1832158 jonan
jonan's picture

thanks!

Tue, 11/01/2011 - 09:00 | 1831491 MsCreant
MsCreant's picture

I repeat, selling is forbidden.

Tue, 11/01/2011 - 09:02 | 1831494 Sequitur
Sequitur's picture

Euro markets imploding. And DOW futures cratering. Love it.

Tue, 11/01/2011 - 09:01 | 1831495 JawsMusic
JawsMusic's picture

>What does 8 and 9 handle mean? Standard deviation?

I believe he is refering to the implied interest rate... 8% ... then 9%... etc...

 

Tue, 11/01/2011 - 09:17 | 1831659 ElvisDog
ElvisDog's picture

No, in this case it means that BTP is currently trading at 89.3. The "8" is an 8-handle.

Tue, 11/01/2011 - 09:02 | 1831500 fonzanoon
fonzanoon's picture

Can anyone please explain why gold would be down today? I thought it was supposed to be the perfect hedge for a day like today. I am asking this out of pure confusion, not sarcasm.

Tue, 11/01/2011 - 09:08 | 1831569 vegas
vegas's picture

"Risk off" for now. hit the sell button first, ask questions later.

If equities somehow stage a rally in the afternoon, watch out shorts.

Simple as that.

Tue, 11/01/2011 - 09:13 | 1831627 fonzanoon
fonzanoon's picture

I think you are right, I just get lost in that translation. According to that explanation if/when the big banks go down or soveriegns go down gold should sell off huge along with equities. At what point does risk off send gold up?

Tue, 11/01/2011 - 09:19 | 1831672 vegas
vegas's picture

When the hedge fund rats that bought the rally finally sell. All they were doing is chasing yield into year end so they can get a bonus. When they flame [whatever that level is], we start heading up again IMHO.

Tue, 11/01/2011 - 09:09 | 1831582 EasterBunny
EasterBunny's picture

This whole argument that PM is sold to cover margin calls just doesnt seem feasible. Surely PM are not purchased to this degree, purely to use as margin? Every time there is a decline in PM, its the same bollocks.... This has to be intervention 'don't let anyone smell the fear'

Tue, 11/01/2011 - 09:17 | 1831657 youngman
youngman's picture

I can´t think of one reason why Gold and Silver should be down today...strong dollar...its not strong....marging calls...unless they are liquidating everything and going out of business....but to sell PM´s first before the Netflix stock does not make sense...soory..this to me is a run with the computer boys...the hard metal is changing hands..to Asia I think...they are smarter than we are...

Tue, 11/01/2011 - 09:36 | 1831807 chubbar
chubbar's picture

Does anyone know what level (if any) MF Global was involved in COMEX trading and whether they may have had a large position (or their clients) in Gold? Just wondering if this could be related to their BK troubles?

Tue, 11/01/2011 - 11:51 | 1832601 Conax
Conax's picture

And look at the symmetry of the paper price charts. The numbers are different but the patterns are almost identical. Across all the metals at least. (I don't even watch pork bellies or OJ)  All those millions of investors seem to move in lock step, almost like a single entity.

Exactly like a single entity.

Tue, 11/01/2011 - 09:10 | 1831589 Sancho Ponzi
Sancho Ponzi's picture

Margin calls = liquidate all assets.

Tue, 11/01/2011 - 09:11 | 1831598 s2man
s2man's picture

The value of the dollar, and a few other currencies is going up.  DXY is up another 1.4% already, today.  But he price for gold is up in Euros and Swiss Francs.

Get it?  The value of gold does not change, just the value of our currencies.

Tue, 11/01/2011 - 09:14 | 1831630 fonzanoon
fonzanoon's picture

This nails it. Thank you.

Tue, 11/01/2011 - 09:41 | 1831842 BurningFuld
BurningFuld's picture

I see it as debt destruction is bad for Gold as Money is dying. Greece going bankrupt will wipe out a lot of currency. However I am a firm believer the French and even the Germans will have to save their banks or risk economic ruin. The only way they are going to be able to do that is to create more money by printing it. Once the printing is announced then the Gold she goes up.

Tue, 11/01/2011 - 09:16 | 1831647 traderjoe
traderjoe's picture

Forced liquidation of PAPER gold/pm's to meet margin calls. Suppression by the PTB to mask gold/pm's signalling of fiat death.

Hold physical and add when possible at low prices.

Tue, 11/01/2011 - 09:33 | 1831781 TruthHunter
TruthHunter's picture

why gold would be down today?

 

Days not over

Could be the distraction factor.  Hard to play with the GLD toy when the wolf at the door shit on the fan.

Tue, 11/01/2011 - 09:02 | 1831501 Shleprock
Shleprock's picture

Time for a plate of Moussaka

Moussaka

Moussaka

 

Tue, 11/01/2011 - 09:03 | 1831520 Cdad
Cdad's picture

That Euro rates are screaming is not surprising...I know...preaching to the choir.  However, the point of my comment is to the MF Global situation, because that IS surprising, and is likely crushing any tiny bit of market confidence that remained.  It has been my running commentary that criminal bankers will not stop until market credibility reaches zero.  We are on our way this morning.

And as always, until such time as the kleptocracy of the criminal syndicate is dealt with, and these corrupt banks are broken up and swept into the ash bin of US history, the Greater American Depression will roll on and on and on.  Real capital will not form in banks as corrupt as ours.

It really is this simple.

[and after that, the problem of crony capitalism]

Tue, 11/01/2011 - 09:06 | 1831549 Sequitur
Sequitur's picture

Yes, I love how so many people said MF Global's $40+ billion implosion is "small." Which misses the entire point: if Italian bonds can destroy MF Global, who ELSE is ready to implode?

Fucking CNBC idiots.

Tue, 11/01/2011 - 09:12 | 1831623 Cdad
Cdad's picture

The "idiots" at the BlowHorn [CNBC] are not so much idiots as they are paid shills of the criminal syndicate known as Wall Street.  They represent the cabal, and just as the kleptocracy needs to be dealt with, so too does the BlowHorn need to have its broadcasting license called into question.  The right to broadcast has a clause in it...about serving the public good.  The BlowHorn has long since exited any pretense of serving the public good in its mission to serve criminal syndicate Wall Street banks.

And I am not kidding about this.  This network needs to be challenged and its license reviewed.

Tue, 11/01/2011 - 09:16 | 1831650 Snidley Whipsnae
Snidley Whipsnae's picture

All the Wall St azz hats are lying about their exposure...

Here is MF Global biggest losers according to Mish via WSJ...

1) Fidelity funds, 13.9 million shares or 8.44% of common stock

2) Guardian Life Insurance Co., 12.9 million common shares, or 7.8%

3) Fine Capital Partners, 21.5 million shares, 7.37% *(In a recent SEC filing, Fine Capital reporting owning 12.16 million shares, for a 7.4% stake in MF Global.)

4) Cadian Capital Management, 10.2 million shares, 6.17%

5) TIAA-CREF, 9.5 million shares, 5.77%

http://globaleconomicanalysis.blogspot.com/2011/11/regulators-investigate-mf-global-for.html

Tue, 11/01/2011 - 09:04 | 1831533 Dick Darlington
Dick Darlington's picture

 Sov CDS 5yr ITALY 511-521 +70  SPAIN 384-394 +49

Tue, 11/01/2011 - 09:05 | 1831537 lunaticfringe
lunaticfringe's picture

Futures down ever so slightly. The CNBC lapdogs are stammering. I love the smell of napalm in the morning.

Tue, 11/01/2011 - 09:13 | 1831626 Rainman
Rainman's picture

...more like the scent of kleptocracy burning.

Tue, 11/01/2011 - 09:22 | 1831695 Snidley Whipsnae
Snidley Whipsnae's picture

"slightly" ???

.............................

S&P down 38.25 or 3.08%

Dow down 228 or 1.92%

Of course, the PPT stopped for coffee. CNBC is anxiously awaiting PPT arrival at keyboards.

Tue, 11/01/2011 - 09:08 | 1831564 qussl3
qussl3's picture

Just print already.
First draghi this week then banana Ben in dec.
You know you want it.

Tue, 11/01/2011 - 09:07 | 1831565 Jafo
Jafo's picture

What is it going to be like one year from today?  I for one will be interested to see that.

Tue, 11/01/2011 - 09:16 | 1831648 srsly-wtf
srsly-wtf's picture

Yuck Yuck Yuck!!!

Tue, 11/01/2011 - 09:08 | 1831570 FranSix
FranSix's picture

Damn those evil speculators.

Tue, 11/01/2011 - 09:08 | 1831574 DeadOnArrival
DeadOnArrival's picture

Is it official...did we reach parity on debt:gdp ratio?  That's newsworthy, no?

Tue, 11/01/2011 - 09:13 | 1831625 s2man
s2man's picture

Nah, they printed GDP up for Q3, so parity is pushed back for a little bit longer.

Tue, 11/01/2011 - 09:17 | 1831654 monopoly
monopoly's picture

And tomorrow QE3 starts. Lets get the destruction of currencies over with. And they sell gold. Amazing.

I sure hope no one on this board trades on margin. If you do, Sayonara. Not good for ones health.

Tue, 11/01/2011 - 09:28 | 1831757 youngman
youngman's picture

How much of the drop in Commodities...PM´s especially is because of MF´s demise and no access to the trading floor????  anyone know?  Or care to guess..

Tue, 11/01/2011 - 09:44 | 1831873 Grand Supercycle
Grand Supercycle's picture

As mentioned for some time, the bullish USD weekly chart continues to exert it’s influence and according to my analysis this will continue.

DOW chart showing bearish megaphone pattern warned of downtrend resumption.

http://stockmarket618.files.wordpress.com/2011/10/2011-10-31_dow_dy_x.png

Tue, 11/01/2011 - 09:48 | 1831885 Tense INDIAN
Tense INDIAN's picture

come on man .. i was just getting ready to short ...dissapointed again ...never get to catch the TOPS

Tue, 11/01/2011 - 11:48 | 1832579 fizz
fizz's picture

ECB coming in with strong support,. trying to not let it get away from them.

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