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

Tyler Durden's picture




 

Submited by Tony Pallotta of Macrostory.com

Test Your Knowledge Of The "infamous" Columbus Day Rally

Can you guess the year? Some notable quotes, announcements of government "fixes" and an SPX chart are provided for your assistance.

Some "Infamous" Headlines

"The surge came as governments and central banks around the world mounted an aggressive, coordinated campaign to unlock the global flow of credit, an effort that investors said they had been waiting for."

"He mentioned that the last time we had a "rally this big" was in March of 1933. Karen Finerman said the rally was "extraordinary to the upside,"
“The market clearly was getting priced for an Armageddon, a depression, for the end of Western civilization as we know it,” said Edward Yardeni, the investment strategist. “A lot of people realized these were extraordinarily good prices to buy stocks.”

"There will certainly be a lot of retrenchment in the real economy, but the stock market tends to look ahead," Mark Mobius, lead portfolio manager at Templeton Asset Management, said on CNBC's "Squawk Box" Monday morning. "...You will probably see a few more declines, but we're beginning to see the bottom of this and so the opportunities are quite interesting, quite attractive."

An SPX Chart

 
And The Answer Is?

2008! Yes, the same problems, the same "fixes," the same pundits declaring birth of the bull. This is all after Lehman failed, AIG was "rescued", Fannie and Freddie were "rescued" and of course let us not forget the passing of TARP, the plan that would save us all from self destruction.

But of course this time is different. Europe has studied the mistakes made by US officials and vowed to not repeat. A recapitalization of the banks will calm markets and restore confidence. Seventeen countries can rapidly create, agree and vote on a plan within hours if needed to stem the contagion.

 

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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:

http://www.telegraph.co.uk/finance/financialcrisis/8819195/German-push-f...

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.

REALLY? YOU THINK, BITCH??

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

BUT BUT WHAT ABOUT A FIGMENT OF A FICTITIOUS CHARACTER'S IMAGINATION?

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

http://www.reuters.com/finance/stocks/companyOfficers?symbol=GBDC.O

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!

www.lemetropolecafe.com

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
PSEUDOLOGOI's picture

Déjà vu - all over again.  

Bitchez!!!

 

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

WHAT?

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. 

Mon, 10/10/2011 - 22:54 | 1759804 Blagio
Blagio's picture

I picked the wrong week to quit Haldol.

Mon, 10/10/2011 - 23:50 | 1759985 ceilidh_trail
ceilidh_trail's picture

You too?

Tue, 10/11/2011 - 01:15 | 1760171 TheFourthStooge-ing
TheFourthStooge-ing's picture

It may be the right week to take up trihexyphenidyl.

 

Tue, 10/11/2011 - 06:30 | 1760357 augie
augie's picture

i'd really appreciate it if you guys would stop poisoning yourselves with those chemicals and grow your own medicine. 

Mon, 10/10/2011 - 22:55 | 1759807 broke433
broke433's picture

See, Asia is already sinking after they have learned spx is at 1200.

Mon, 10/10/2011 - 22:55 | 1759812 steve.stuart
steve.stuart's picture

whatever may happen the market will have to come back up sooner or later as another theif mr.zuckerberg is waiting to take his company public ...

Mon, 10/10/2011 - 23:00 | 1759826 broke433
broke433's picture

I would sell my soul to buy Facebook.

Mon, 10/10/2011 - 23:00 | 1759827 broke433
broke433's picture

I would sell my soul to buy Facebook.

Mon, 10/10/2011 - 23:05 | 1759848 WonderDawg
WonderDawg's picture

If your soul is for sale, the devil will negotiate a better deal than you. It won't cost him Facebook.

Mon, 10/10/2011 - 23:27 | 1759920 broke433
broke433's picture

Stop stalking me

Mon, 10/10/2011 - 22:57 | 1759819 lemosbrasil
lemosbrasil's picture

i posted anothr day the movement of set-out.2008. That movement seems to be the same movement now !!

 

Here, another amazing coincidence ! another crazy same movement !!.....In set-out-2008 , they put up Dow Jones 1000 points before freefall !!!.......In last 5 days , they put up DOW JONES the same 1.000 points !!

 

CRAZY !!! See here : http://pracompraroupravender.blogspot.com/2011/10/eles-repetirao-2008-setembro-2008.html

Mon, 10/10/2011 - 23:02 | 1759833 samsara
samsara's picture

OT but OnT

Quote of the day.

"What do you THINK I'm Thinking?"

http://wearethe99percent.tumblr.com/post/11250745787

It's gonna get ugly ya'all

Mon, 10/10/2011 - 23:54 | 1759998 ReadySteadyGo
ReadySteadyGo's picture

I think she's thinking about taking other people's shit.

Mon, 10/10/2011 - 23:40 | 1759963 Prometheus418
Prometheus418's picture

Not to nitpick, but what the hell happened to Anonymous removing the NYSE from the internet today?

This kinda looks like the opposite of that.

Mon, 10/10/2011 - 23:47 | 1759975 Drag Racer
Drag Racer's picture

Seventeen countries can rapidly create, agree and vote on a plan within hours if needed to stem the contagion.

Ya, but the US got 15 minute Benny...

Tue, 10/11/2011 - 00:20 | 1760069 zebra
zebra's picture

now it is a common belief for the following seasonality:

1. pre-election is always bullish

2. Santa rally

3. No bank will be left behind

isn't it a little too easy to make money like this??

 

 

Tue, 10/11/2011 - 00:30 | 1760102 Yen Cross
Yen Cross's picture

 So is that " Bull" candle going to take the 20? ( assuming that is a 20 sma, mid boli line/ 2% deviation) ?

Tue, 10/11/2011 - 00:54 | 1760144 chump666
chump666's picture

from wires, YUAN selling kicking in,

*"I've spotted more than $1 billion worth of dollar-buying orders from customers in the morning session, including oil companies, which boosted the pair from its intraday low," says a Shanghai-based Asian bank trader

Tue, 10/11/2011 - 02:52 | 1760258 McNoob
McNoob's picture

The latest global breakneck short squeeze rally all but guarantees a October 1929 style market crash.

It'll probably come sooner and quicker than people think. I have never seen a more bearish rally. This is infinitely worse than 2008.

Shanghai Index is already negative. Completely skipped over the short squeeze rally. Don't look down.

Tue, 10/11/2011 - 06:49 | 1760361 dvsteenk
dvsteenk's picture

short-squeeze-driven it was, this rally, and it took many off-guard, including me

what keeps me puzzled is who had the insight (that is the information about the outstanding short-positions) and the means (both money-wise and technically) to push levels above each short-position threshold for the short-covering to take over. Unless it was a huge, smart bet by a daring "investor", isn't this insider trading? Isn't it called manipulation, when stocks and derivatives are being bought and sold with the sole intent of fooling the outsiders, and not to take a genuine-long investment position?

Who has that capacity, supposing it takes a huge amount of money to trigger 10- to 20-point upticks in futures (which is not necessarily the case)? And if it takes deep pockets to instigate such squeezing chain reaction, how can they unwind the accumulated counterposition once their target has been reached or all shorts have covered? If VIX drops 25% in four days, doesn't it mean a huge amount of puts have been wiped out? Who sold those puts and then knowingly killed them?

Alternatively, perhaps it doesn't take all that much money after all, to achieve the above, considering that HFT's can uptick to whatever level is appropriate according to their market position inventorying systems (i presume they keeping track of all outstanding positions at any moment in any type of marketable security), they can break correlation trades or fundamental trends when it is least expected to wreak the most havoc... perhaps it takes very little money, so perhaps the question about the need for unwinding is not that relevant... Then we have a broken market, with virtual levels at any moment, a casino.

Or are we just being fooled by randomness? Then again, is the randomness really random?

Many questions

Tue, 10/11/2011 - 03:24 | 1760287 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

I actually like Robo...I think he is a useful contributor to this site. And about 10 days ago he had thrown in the towel. Said the failure of the PPT to push past that 1196 level (a Tuesday 2 weeks ago) was alost opportunity to squeeze the shorts mercilessly and that Bernanke had just 'given up'. I wrote that he was wrong, that there is ONE more surge north. We are in it now. For Robo to suddenly do a 180 and crow eternal bullishness is a bit hypocritical.

Tue, 10/11/2011 - 03:41 | 1760297 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

oh fuck...now we have easybeat earnings season upon us whereby every eps will beat wall st analyst expectations...what a journey this bitch has become!!

Tue, 10/11/2011 - 05:42 | 1760340 blueridgeviews
blueridgeviews's picture

I am way more concerned about inflation eating away at my purchasing power than how high or low the market is doing.

Listening to these cheerleaders on CNBS makes me want to puke. They sound like realtors. Ever hear a realtor say today's a bad time to buy a home?

Tue, 10/11/2011 - 06:01 | 1760347 ricksventures
ricksventures's picture

Slovakia did not pass the EFSF as of yet ! Sulik and his party will NOT vote for it

 

NEWS UPDATE follow minute by minute at

http://www.sme.sk/c/6091870/minuta-po-minute-pada-vlada-sulik-nechce-ust...

(use google translate)

 

LAST UPDATE !!! : Suliks Party SaS (Freedom and "no solidarity for fat greeks") DID NOT attend the VOTE and also the party Obycajny ludia (Simple people) DID NOT attend the VOTE

which means the Soros WHORE OF THE MONTH Prime Minister Iveta Radicova (worked before for Soros Open Society) will have to resign and new government will have to be formed with the red opposition party (the biggest thiefs in Slovak history together with basically all parties) SMER will have the majority since their popularity is around 40%

Suliks party is around 10-15% maybe more once the new elections start

SMER will probably have enough votes to pass the EFSF but either they do it in new government (which would take many months to form) or if they do it now with the current oposition, their chances for the upcoming elections would probably drop significantly since MOST SLOVAKS OPOSE EFSF

 

IN THEORY MERCKEL COULD USE SULIK AS THE REASON WHY THE GREEKS CANT GET ANY MORE FREE FETA CHEESE, BUT THE GREEK WOMEN CAN APPLY FOR FREE CUM FROM SLOVAK DICKS, ALL THEY NEED TO DO IS SWALLOW

Tue, 10/11/2011 - 09:30 | 1760671 Magic Mamaliga
Magic Mamaliga's picture

"But of course this time is different. Europe has studied the mistakes made by US officials and vowed to not repeat. A recapitalization of the banks will calm markets and restore confidence. Seventeen countries can rapidly create, agree and vote on a plan within hours if needed to stem the contagion."

hours? HOURS??!??... i thought response time for PHD's was 15 minutes and that it only got lower the more there are in the same room?

FROM 60 MINUTES

Pelley: Can you act quickly enough to prevent inflation from getting out of control?

Bernanke: We could raise interest rates in 15 minutes if we have to. So, there really is no problem with raising rates, tightening monetary policy, slowing the economy, reducing inflation, at the appropriate time.  now, that time is not now.

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