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    There is unfortunately no basis for renewed optimism that this current litigation will have any meaningful impact on precious metals manipulation – with respect to either silver or gold.

Guest Post: Test Your Knowledge Of The "Infamous" Columbus Day Rally

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Mon, 10/10/2011 - 22:24 | 1759724 Two Towers AU AG
Two Towers AU AG's picture

Tyler Durden  for President 2012.

Vote on the green button if you agree.. also spread the word.


Mon, 10/10/2011 - 22:29 | 1759739 YesWeKahn
YesWeKahn's picture

Not because he doesn't qualify, I don't think he is interested.

Mon, 10/10/2011 - 22:30 | 1759742 Crisismode
Crisismode's picture

From Ambrose Evans-Pritchard today:


Marchel Alexandrovich from Jefferies Fixed Income said Germany risks opening a "Pandora's Box" by unpicking the Greek deal.

"It would be a complete disaster, a signal that sovereign debt is not safe. Investors would pull their deposits out of Portugal, Ireland, Spain and Italy and set off bank runs across Europe," he said. "The French are against doing this and so is the European Central Bank. They know banks need more time to adjust. We don't think Europe will pull the trigger."

REALLY? You don't think? You pissant fucking asshole, that is EXACTLY what these jerkoff Euro banks NEED right now! Pull the damn trigger and let these obnoxious banksters flush themselves down the toilet to HELL!

"We think Europe is going to struggle to escape market pessimism until we see the emergence of a lender-of-last resort, whether a much larger commitment from the ECB to buy bonds [ideally QE] or a significantly revamped EFSF," said Graham Secker from Morgan Stanley.


Critics say Germany is making a policy blunder by treating the crisis as a Greek morality tale, losing sight of EMU's deeper structural woes. Portugal is as vulnerable as Greece, with higher levels of combined private and public debt and an equally large trade deficit. Spain is still in the early phase of its housing bust. Italy has lost 40pc in unit labour competitiveness against Germany since 1995.

Pulling the plug on Greece risks bringing a much bigger crisis to a head all too quickly.

Not Quickly Enough . . .Pull down the curtain on this shoddy mess NOW!


Mon, 10/10/2011 - 22:49 | 1759779 tkinfo
tkinfo's picture

Thanks for posting this timely article. I run a hedge fund in San Francisco that is short a number of EU money center banks and brokers and getting a handle on the continuous news flow is a challenge. I'd missed this one tonight.

Thomas Kennedy

Tue, 10/11/2011 - 02:58 | 1760255 Smithovsky
Smithovsky's picture

Columbus day 2008 - world drunk on salvation - Dow up 936 points (after 8 straight down sessions where it lost over 20%).  

Two days later, world wakes up with a major hangover, next to the ugly truth - Dow down 733 points.

October 12, 2011 - Black Wednesday!

Stay strong, stay short.

Tue, 10/11/2011 - 02:56 | 1760259 Precious
Precious's picture

No problem.  We all need a little help now and then. I am a purveyer of lubruvious cocktails to the filthy, dripping rich, and we have put all our assets into diamonds which are now in transit to our secret vaults in the Grand Tetons of Wyoming.  Thankfully Zerohedge helped me with some much needed timely information on the alchemy of rare metals which changed my investment strategy to non-confiscatable commodities like Faberge eggs and large carat fine diamonds.

Mon, 10/10/2011 - 22:55 | 1759811 Two Towers AU AG
Two Towers AU AG's picture

He is not interested till he is interested.. thats what I am trying to get him to agree to.

Tue, 10/11/2011 - 07:11 | 1760382 connda
connda's picture

That would just about make him the perfect president.

Tue, 10/11/2011 - 07:38 | 1760440 Tater Salad
Tater Salad's picture

Or perhaps because you can't vote for a Tyler(s) Durden.

Mon, 10/10/2011 - 23:10 | 1759870 Newsboy
Newsboy's picture

Only real people, not fictitiuos characters, can run for President of the USA (current President, possibly excepted).

Mon, 10/10/2011 - 23:39 | 1759961 brandy night rocks
brandy night rocks's picture


If Tyler did run and win, though, we'd finally have a Prez whose multiple personality disorder was even more pronounced than Nixon's.

Mon, 10/10/2011 - 23:11 | 1759874 Iriestx
Iriestx's picture

Running this blog makes him only slightly more qualified than Obama was in 2008.  At least Tyler has held at least one real private sector job in his life.

Mon, 10/10/2011 - 23:32 | 1759943 hannah
hannah's picture

i want to see a birth certificate of this guy called tyler durden............

Tue, 10/11/2011 - 05:48 | 1760342 jeff montanye
jeff montanye's picture

rumor has it that the original may be of russian birth.  in some ways he is more valuable in his current role.  plus ron paul already has the t-shirts printed, etc.  and he's clearly over 35.

Tue, 10/11/2011 - 09:35 | 1760684 Don Birnam
Don Birnam's picture

The clue to the ultimate solution was "Yardeni," as Ed Yardeni is now in the bear camp; thus, persona non-grata on the chronically sanguine "business" network, CNBC. Ergo, it had to be a few years ago...

Mon, 10/10/2011 - 22:24 | 1759726 CashCowEquity
CashCowEquity's picture

lmfao ! i made the same damn charts tonight, the 2008 comparison to now. Expect a gap and crap tomorrow morning and selloff into Thursday Morning.

Mon, 10/10/2011 - 22:28 | 1759737 Fips_OnTheSpot
Fips_OnTheSpot's picture

All is well, move along. 2008 just called and wanted its money back

Mon, 10/10/2011 - 22:30 | 1759743 winter is coming
winter is coming's picture

because his post last monday was just as accurate...not

Mon, 10/10/2011 - 22:32 | 1759745 RobotTrader
RobotTrader's picture


Summation Index turned back up.

And many indexes look like they could blow right through the heavy congestion area, just like WFC did today.

No buy signal yet from IBD, they say market is still in correction.

Mon, 10/10/2011 - 22:43 | 1759770 LongSoupLine
LongSoupLine's picture

and many indexes look like they can reverse faster than you can blink and crash hard...but you failed to take that into account didn't you.  No, wait, you didn't...you just "choose" not to share that part.  idiot.

Mon, 10/10/2011 - 22:54 | 1759795 Boston
Boston's picture

But slow stochastics on the SI is still bearish.......

Mon, 10/10/2011 - 23:07 | 1759855 rocker
rocker's picture

You actually read IBD. I pick it up and look at the trend indicated and put it back in the rack. What a waste chase paper.

Oh, by the way Robo. Three days before the new low on the SPX I kind of rembering them saying, "Market in Confirmed Up Trend.

Now, I know where you get your great material for us.  LOL on that thought. 

Mon, 10/10/2011 - 22:34 | 1759749 reader2010
Mon, 10/10/2011 - 22:34 | 1759750 zorba THE GREEK
zorba THE GREEK's picture

This time will be different.

Mon, 10/10/2011 - 22:34 | 1759751 LongSoupLine
LongSoupLine's picture

It's not insanity, it's retardanity.  The corruption is in your face, main stream, and telling us all "F.U.!"  This is truly the beginning of the end of life as we know it.

Mon, 10/10/2011 - 22:54 | 1759799 Vic Vinegar
Vic Vinegar's picture

So if this is true then what do you suggest we do other than type words on the internet?

Mon, 10/10/2011 - 23:06 | 1759850 LongSoupLine
LongSoupLine's picture

Well Vic, I have been reading here for years, so am prepared.  With that, if you don't know by now...good luck.

Silver, MRE's, ammo.

Mon, 10/10/2011 - 23:09 | 1759864 Vic Vinegar
Vic Vinegar's picture

No offense to you personally, but I will stick with my Starbucks card and iPhone. 

Tue, 10/11/2011 - 05:52 | 1760344 jeff montanye
jeff montanye's picture

au and srs

Mon, 10/10/2011 - 23:14 | 1759883 slewie the pi-rat
slewie the pi-rat's picture

holy taco, batman!

i answered your post b4 you put up the kink, vic! 

what duz "lose virginity" mean? 

Mon, 10/10/2011 - 23:08 | 1759859 slewie the pi-rat
slewie the pi-rat's picture

test your knowledge?  L0L!!!

the answer is:  maybe, BiCheZ!

Mon, 10/10/2011 - 22:40 | 1759760 chump666
chump666's picture

Rally has melted up too soon and too fast, it's coming down...oh Aloca?  With Copper and indust metals still crunched.  Gonna be crap results.  The market opened up a hole and sucked a lot of suckers in. Major sell due end week.

Somthing will go haywire in Europe again, those messy Europeans.

Tue, 10/11/2011 - 00:58 | 1760148 chump666
chump666's picture

and I repeat, "...those messy Europeans."

Mon, 10/10/2011 - 22:46 | 1759763 Earl of Chiswick
Earl of Chiswick's picture

and as I recall in late 2007, Finerman's soumate pulled his IPO only to do it again last year - it's a flat story


Mon, 10/10/2011 - 22:43 | 1759769 dollartheque@ya...
dollartheque@yahoo.com's picture

and the markets will rally and the PMs also, so e=whats the fucking problem with that?

Mon, 10/10/2011 - 22:45 | 1759771 binky
binky's picture

I just ate my iPad.

Mon, 10/10/2011 - 23:53 | 1759994 TuesdayBen
TuesdayBen's picture

Can we see the video of that, WallStreetPro2?

Tue, 10/11/2011 - 01:13 | 1760166 TheFourthStooge-ing
TheFourthStooge-ing's picture

I just ate my iPad.

That shit is going to be pretty fucking odd.


Mon, 10/10/2011 - 22:46 | 1759773 winter is coming
winter is coming's picture

Market aint coming back... Can will just be kicked more and more and more

Mon, 10/10/2011 - 22:47 | 1759774 DavidPierre
DavidPierre's picture

Merkel and Sarcozy met again yesterday and announced that they will save Europe (and thus the world) again on Nov. 3rd.

I for one feel much better since I just assumed we were all going down the financial rat hole!

They did however also say "it was too early to announce any details" of the plan. Of course "it's too early" because there IS no plan!

There is no plan because there can't be. There can't be because just as in the U.S., it is mathematically impossible to pay off the existing bad debts by creating more debt to "fix old debt". This can and will only make things worse. Unless the bad debts, busted banks and insolvent sovereigns are allowed to fail AND be liquidated, reorganized and buried, the bad debts only get "re shuffled" (hidden for a while) on to someone else's balance sheet. They never go away...until it ALL goes away.

This "someone else" in case you were wondering is the ECB and the Fed. These two entities will be the last men standing and act as lender of last resort for everything!

Yes, they (maybe only the Fed since the Eurozone stands a high probability of fracturing) will have the burden of lending to every company, every bank, every investment bank and insurance company AND every central bank and sovereign nation on the planet!

They will be forced to do this to keep the system running maybe only one more day. The end game is really looking like the greatest collapse into a hyperinflationary deflation. Let's call it a hyperindeflation.

When all is said and done, paper money won't buy anything and whatever you sell will not raise much in the way of Gold. (In case you were wondering I just recommended to buy Gold)

By the way, lest I forget Dexia, Europe's 2nd strongest bank according to the recent "stress tests" was nationalized over the weekend. Yep, that's right, the 2nd strongest bank and it is estimated that it may cost as much as a quarter of the value of "the fund to save the world", the EFSF.

Two other pissant banks went under and I am too lazy to look up who they were because it doesn't matter. It doesn't matter because the Dow Jones is UP 300 points and the bank stocks are very firm.

You just HAD to see this one coming. Europe announces (well not really) that they have a plan (not really) to save Europe (not really) which will save the world (not really). This not really plan will be implemented on Nov.3rd (not really) and the not really details will be announced (not really) sometime this month. The ONLY thing I really (yes really) understand is that "they" don't have a clue as to what to do.

When nothing works and nothing makes sense, buy some time because someone somwhere might be able to figure out a solution before it all blows up? Not really!

Of course this is all happening while Greece announced widening deficits in the face of austerity and Italy announced that they will raise taxes so they can give money to the ECB so the ECB will buy Italian bonds. Malta and Slovakia are saying that they will veto the EFSF anyway but nobody is listening to them because even "Misqcamicut Rhode Island" could could kick their asses.

Think about this, this is like the "2nd safest" U.S. bank being nationalized over the weekend while a bankrupt Illinois announces a higher deficit and California raises taxes to give to the Fed so that they will have money to buy California bonds. Are you with me?

Then, the Governor of some podunck state says he is going to veto everything the Fed, Treasury and federal government plan to do. THEN and ONLY then do we get a strong global rally in guess what...the banks and financials.

There are not enough drugs or mezcal laced tequila in the world that a fiction writer could consume to come up with anything even close to what has just transpired over the weekend combined with today's market reaction.

Speaking of reactions, I forgot, the (previously pronounced) dead Euro is king today and the Dollar is getting hit nearly as hard as any time throughout this entire 4 year crisis. Unbelieveably Gold is up today even in the face of such negatives as a crashing Dollar, reports of massive public demand at mints around the world and physical shortages appearing in Europe, the Middle East and the U.S.!

Simply amazing!


Mon, 10/10/2011 - 22:48 | 1759777 broke433
broke433's picture

1080-1200 spx

doesn't matter about what type of news is out.

If it's time to go up, Europe is okay, economy is not bad, China is not having a debt crisis.

If it goes down, Europe is not okay, economy not so good, China is having a debt crisis too.

Mon, 10/10/2011 - 23:03 | 1759840 WonderDawg
WonderDawg's picture

The markets are dictated by the ebb and flow of hope and fear. Fear took the DOW down 2000 points and was temporarily exhausted. Hope will carry it back up halfway or a little more, then hope will become exhausted and fear will take over again, this time taking us through the 2009 lows. It's amazing to me that the people who read this website still think the market moves on news. Fear is the prevailing trend, meaning down, but the market won't go straight down, not yet. Not until hope is extinguished will we crash. It's coming, but not just yet.

Mon, 10/10/2011 - 23:18 | 1759892 Prometheus418
Prometheus418's picture

Hell, I don't know about you- but it's not hope I'm feeling, it's burnout.

People are probably too friggin tired to panic for a bit, and are just taking a breather.  No worries, the destruction of western society will contune shortly.  In the meantime, we're having a very nice Indian summer up here in Wisconsin.


Tue, 10/11/2011 - 00:16 | 1760062 WonderDawg
WonderDawg's picture

I think you nailed it, Prometheus, people are burned out on fear for the moment, but as you said, just taking a breather. The market will continue the bounce for a while, but fear will return well-rested, and that's when it gets ugly. My time frame is December, but maybe hope holds out until the New Year. By early spring, the markets will be crashing. That's my scenario. I think we are due for a little rally correction here soon, it won't go straight up, but I don't think I'm good enough to time the smaller moves. I'll just wait for the rally to burn out, and then load up on the puts.

Mon, 10/10/2011 - 22:50 | 1759780 PSEUDOLOGOI

Déjà vu - all over again.  



Mon, 10/10/2011 - 22:50 | 1759783 doomz78
doomz78's picture

The market is in a pinch....    Banks are failing ..  And countires are bankrupt.  Germany and Slovakia (lol)..  Don't want to play ball anymore.  THEY need to play ball to serve the status quo of insanity.  The Euro seems to have failed.  But the MSM and politicians are pretending that Humpty is still in one piece.  The greek one year bonds of 150% this morning set off a few alarms in my mind. (yet more)  

The entire world seems to be contracting.  But politicians and policy makers want inflation.  But the people don't want anymore inflation.  ???  Hmmmm........ What a shitfest situation this is.  And furthermore...

National debt is at historical highs and the unemplyment rate sucks.  So more debt vs less taxes.  eeeee...   I'm getting a headache. 

And let's not discuss the derivative toxic asset problem and the fact that all the USA jobs have been moved to China cause we couldn't compete with their slave labour.  Unfunded liabilities in the states 115 trillion...???  Jesus Christ..   What a stupid mess we are in now.  It seems as though years of political interference and central banks have really bent us over and plowed us a new one.  I wish i was more optimistic here.  I love life and wish the best for everyone..  but.  this looks ugly.    prove me wrong someone. 

Mon, 10/10/2011 - 23:10 | 1759866 I am a ..
I am a ..'s picture


You wanna spoil the party ?????  'They' are all out to prove you wrong

Mon, 10/10/2011 - 22:52 | 1759791 dr.charlemagne
dr.charlemagne's picture

i have this sneaky feeling that the world is going to be "saved" by the politicians right after i buy puts tomorrow, so maybe i will hold off. on the other hand if occupy wall street infects europe, can they still bail out the banks? if OWS knew what was good for them they would all be on a plane with checkbooks to SLOVAKIA. But, alas, these folks don't have a clue

Mon, 10/10/2011 - 22:56 | 1759815 doomz78
doomz78's picture

They may lack a bit of guidance as of now...  but.  They they are feeling something.  Disgust.  And an injustice between them and the big corporations and politicians.  It starts with a feeling. (thats a gay saying)  but, It is true.  The USA population has been quiet for the last 10 years.  Now they are finally starting to wake up from their taco bell/ dairy Queen coma. 

I think this is gonna get stupid. 

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