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Here Is The Hilsenrath Rumor To Save The Day
In a market which was left for dead with virtually no hope of a CTRL-Peus Ex Machina, and which otherwise would have tumbled to close at the lows, we realized that something was missing. In fact we noted it less than an hour ago:
Need a Hilsenrath rooomer
— zerohedge (@zerohedge) July 6, 2012
Sure enough, moments ago, with minutes left in the trading day and week, here comes the Fed's favorite leaking scribe, advising the market that not all is lost, and that Pavlovian dogs can, and in fact should continue to salivate at ever poster of a half naked toner cartrdige.
- Our Jon Hilsenrath: Weak Jobs Data Increase Likelihood Of #Fed Action, But Don't Ensure - WSJ
- Our Jon Hilsenrath: #Fed Hawks Want To Reserve Action For More Serious Threats - WSJ
- Our Jon Hilsenrath: Some Officials Interested In #Fed Mortgage Bond Purchases - WSJ
In other words Bill Gross was right again, and the next thing the Fed will buy will be MBS. However, will it do anything to fix the economy, create jobs, or fix inflation: of course not. But at least it should push the S&P that little big higher.
Here, specifically, is what the Fed told the WSJ to write:
Friday's disappointing jobs report increases the likelihood that the Federal Reserve will launch a new bond-buying program to boost economic growth, though it doesn't ensure such a move.
Fed officials emerged from their policy meeting in late June frustrated by the slow pace of the recovery and worried that the economic outlook was deteriorating. Economic data released since then have done little to allay those concerns, according to public comments by some officials and interviews with them before Friday's employment report.
Yields on 10-year Treasury notes fell to 1.54% on Friday, near the lowest levels in generations, reflecting market gloom about the economy and also possibly the anticipation of more action by the Fed. Bond-buying programs are meant to drive down long-term interest rates to spur spending and investment and to drive investors into riskier assets that might support economic growth, such as stocks.
...
The central bank's more activist camp believes more action is already justified because the economy isn't making progress toward reducing unemployment and inflation is low. Its hawkish wing, which worries more about inflation and which has been skeptical of the central bank's responses to financial crisis and recession, accepts that more action might be needed but wants to hold it in reserve for serious threats like recession or deflation.
"If we get some kind of major global disturbance or some kind of problem here in the U.S. and the growth outlook deteriorates sharply, then I think more action could be warranted," James Bullard, a Fed hawk, said in an interview last month.
The activists have tended to win out in many of these debates during Mr. Bernanke's tenure as chairman, though the hawks have helped to restrain the aggressiveness of Fed actions.
Some Fed officials in the middle don't have as high a bar to action as the hawks but are waiting to see if the outlook deteriorates anymore. "I am more leaning toward the view further action would be a response to deteriorating conditions and a deteriorating outlook," Atlanta Fed president Dennis Lockhart said in an interview with Dow Jones Newswires last month.
Officials could decide to wait through the summer to watch the economic data and revise their forecasts before making their next big decision. Many Fed officials want to be deliberate because economic data are hard to read right now. Still, the recent spate of disappointing figures—including feeble job gains and falling factory output, retail spending and consumer confidence--raises the likelihood that a bond-buying program will be discussed when they meet in July.
Bond buying, also known as quantitative easing, would be a controversial move inside and outside the Fed. When the Fed launched a $600 billion program of long-term Treasury bond purchases in 2010, critics assailed it for risking higher inflation and trying to push down the value of the dollar.
Since then, Fed officials have become less concerned that their policies are doing the damage critics warn about. But some have doubts that the policies are doing much good at a time when banks are reluctant to lend and consumers and businesses are wary of borrowing. However, Mr. Bernanke has made clear he believes Fed policies can boost growth.
"Monetary policy still does have some capacity to strengthen the economy by easing financial conditions," he said at his news conference.
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Wake me up when QE3 is announced ...
You'll have to wake up quick, half-life is down to about 3 minutes.
Sam & Dave moment
~~~
http://www.youtube.com/watch?v=XrTDJaBeqnY
More heroin will help you feel better temporarily . . . but doesn't fix the underlying problem of why you "need" the heroin.
Substitute QE for heroin and growth in economy for you.
BTW, peus" is latin for "gold shield" according to google translate -- any classics folks care to comment?
QE 3 should be code named "5 Hour Energy", because that may be how long the impact will last.
"Five Hour Green Energy"
Hilsenrat. Calls to mind a scene from "The Godfather, Part II:"
Senator Pat Geary: Mr. Cici, was there always a buffer involved?
Willi Cici: A what?
Senator Pat Geary: A buffer. Someone in between you and your possible superiors who passed on to you an actual order?
Willi Cici: Oh yeah, a buffer. The family had a lot of buffers!
I somehow doubt heroin dealers are as dishonest and scummy as the ones giving out QE3.
Not intentionally, but they're not real bright. Some distributor had the brilliant idea to cut his H w/fentanyl about a year ago, killed 12 good customers.
Derp derp.
Bernanke, be my bitch, too. Let's take market out of market. Just tell me when to buy IWM, or Apple. The price to buy and the price to sell.
Tell momma on foodstamps so she can open her Etrade account.
VIX is down....it's been trying to say something all day (like another weekend rumor is imminent)
More like VIX was up all day and then reversed course for no reason (rumor) to close lower. On no news...
More like VIX was up all day and then reversed course for no reason (rumor) to close lower. On no news...
"half-life is down to about 3 minutes"
Well, what can you do,
millions sperms can swim up channel;
billions can die with push of a button;
trillion lie-bors can be traded by HFT.
Glorious 3 minutes.
But then, if it goes further down to, say ZERO, what can you wake up to, hedge?
The FED buying MBS = Big Boost in Hiring
Shaving your dick off with a cheese grater = Good Sex
Drinking Drano = AWESOME FEELING
1984 = Kim Kardashian's booty
Debt = Heaven
Hilsenrath the Scrivener
by: Herman Melville
You should be able to catch up on your beauty rest ...
The key takeaway
Our Jon Hilsenrath: #Fed Hawks Want To Reserve Action For More Serious Threats - WSJ
I have raised this point before:
Where will the EU Zombies turn IF they get to pick Germany's bones clean?
But this one is new for all of you:
QEEND - How much money will it take to be remotely credible as forestalling the EU/euro freefall?
Answer: Anything less than $ 10 trillion USD is laughable .... but anything more than $ 5 trillion USD will let loose the bond vigilantes on the U.S.
barliman
Kill me when QE3 is announced.
Good news, you live aNother day!
Good news! In spite of the tsunami warning, the ocean waves continue to pull back from shore!
They look like some lame roomerers, especially the first too:
Amazing! Hopium levitation up! Illegal Fed central bank actions, again!
Weak. I'm surprised they couldn't come up with something more juicy.
Spam...but so be it. I can't post pix here.
http://www.tfmetalsreport.com/comment/187205#comment-187205
Wake me up when the PetroDollar is dead............
New T-shirt worn by the unemployed: "Will work for QE3."
They might as well ask for a job. QE does not extend to them. It is only stimulus for the big boys to keep partying.
lol
You people are sick as
... as http://tinyurl.com/GeneMarchbanks
Don't short the stock market.
Eat shit and die you conformist fascist dreg! A noose awaits you...
Musta got his tweet in just b4 the sabbath started...
Mr. Durden, you should give the "market" a boost by Tweeting, "New genetically engineered breed of printer cartridges begin breeding like rabbits!"
Hilsentard..
Come on S&P 500! Show me some green figures!
Pretty predictable to see this hockey stick turnaround, KRE and XRT have been climbing all day, and VNQ is still pinned at 4-year highs.
TGT, KSS, JWN, and the usual suspects are leading the way.
WHOA RoboTarder is back? So what did you do re-open your Widows and Orphans Fund again?
RoboTard has his mom's remaining retirement funds (a very small account that was once much larger and actively managed by RoboTard at that time using Gorilla Trades - as seen on CNBSC) all in Groupon.
Robos back ..Welcome home sensei.
Funny how you call things AFTER they happen and then say it was "predictable".
Moron.
Classic RoboTarder.
I equate Classic RobotTrader with pictures of hot chicks.
Please buy stawks for the weekend! No really, theres still a chance for QE#WHATEVER we promise REALLY!
Unreal.
How many times do we keep watching equities pulled from the gutter while commodities get left there and keep saying unreal? Paper assets over real assets all day long. fkin bizarro.
Insanity: doing the same thing over and over again and expecting different results.
Albert Einstein
The Fed should get the Nobel Science Prize this year. Who else can transmit bullshit via electronic transfer in the volumes that they do?
From Bernank's lips to Hilsenrath's ears to the rumor mill faster than the speed of light.
Higgs boson is vindicated.
... if a riumor is without mass or substance, it is not affected by the Higgs field ...
...therefore ...
The rumor does not exist.
Always thought having a God particle would prove useful
barliman
So what your saying is that Bernank Flatulant is actually the "God Particle." Interesting theory, you should do a paper on it and submit it to the Nobel folks.
I heard that the Nobel Committee has ESP. Maybe they've known about Higgs bosom for a while now and have been time traveling.
I don't know if that's true, but there are rumors they've predicted the future in passing out awards such as the one for "Peace."
Cuntcuntcuntcuntcuntcuntcuntcuntcuntcuntcunt! Did you get it? No?!
Ok: cuntcuntcuntcuntcuntcuntcuntcuntcunt
So he announced nothing new.
Right on time....big down day before weekend and the f**kin rumor mill saves the day in the last hour.
Got those Algo's trained just like sheep. One of these times, the reward will be to lead them toward the slaughter house.
One of these days in ain't gonna work......then what?
No one even buys it anymore.
I've seen plenty of headlines about MBSs purchases from big names over the past few months. My assumption has always been that it's for this reason, even the media positions them as buying the "bottom".
Why QE when rumors of QE work waaaay better!
It's pretty hilarious they are trying to drive people into the market (risky assets) and everything they do simply drives them away. Until they are all discredited, the games will continue.
Can this train wreck go any slower?
Hey !!!! Everyone.... The bullion rates for one year lease and 6 month lease rates went retarded
NEGATIVE -.55 FOR GOLD AND negative -.40for silver for a year lease rate.
Check out the kitco charts.
This morning the chart did not match their data so you might miss it if you were not watching close.
Thats what kitco does.\They are very decietful,and crooked.
The lease at these prices will just be rolled over and over and the boys in the club will smack gold and silver down good.
FUCK YOU'S Banker and goverment criminal terrorist...!!!!
FUCK YOU'S...!~!!!!!!!!!
Sooner or later the "market" will shrug this shit off and demand that Ben "show t the money"
... on a low volume day, that market "doesn't need no stinking money" ...
The algos were freed from financial restraints last year.
Which is why all they need is a rumor to ramp into the end of today.
barliman
Anyone that trades knew this was coming. I posted over an hour ago on ZH that SPY 135 was the low to break and that with no volume I was anticpating the Feds big green candles to start appearing any fucking moment. It's been one after another since.
There are reasons for this, the biggest is no volume. That's the easiest time to manipulate.
The other is 'friday'. They hate bad fridays because they want the drones to come home from work and be happy that everything is ok and go spend $ on the weekends.
This bs happens time after time. I made 25% on a few calls and bailed. Way too fucking early. I could be doubled by now.
So why am I complaining about making $? Because I am fucking sick of seeing the blatant manipulation day after day, week after week, month after month. Anyone that has exp watching live charts 8 hrs a day can see it coming a mile away.
Despite everything said here, and people saying t/a doesn't work I have news for you: it's the only thing that works and it's entirely predictable.
When you see this as often as I have it's like holly shit........we'd be at fucking zero by now if it weren't for this crap.
Take heart ...
"On a long enough timeline, the survival rate for everyone (& everything) drops to zero."
There is a quarter's worth of profits waiting to be made by the FIRST HFT to break ranks and short the market into a Friday close.
Temptation isn't really temptation unless you take advantage of it.
barliman
Oh I have no doubt, and it will cascade from there and if anyone thinks the fingerpointing has got bad lately just wait.
One of my favorite quotes:
"The M67 fragmentation grenade - When "FUCK YOU" simply isn't getting the point across."
I don't think Bob Diamond's "FUCK YOU" got the point across this week ...
barliman
Just fyi when I said '135 the level to break' it's a little more invovled than that. That doesn't mean go all short at 134.93 lol. At any rate any good technical trader made a lot of money the last hour.
And how many "drones" do you think pay attention to the last hour of the stock market?
6-8 handles up from the low of the day? Oh Yeah!... now let's go out and buy things!
Silly.
You're not up with the entire story. No drones pay attention to the last hour. They do watch the news. Fox news. Knowing that there 401ks aren't crashing, keeps them from getting in a sour mood.
This is known fact that the markets are used to control moods.
You also don't know how to read charts or you'd already know all of this.
They need people to spend all the money they can on the weekends to keep what little is left of the economy sputtering along.
No more free lessons for you.
So, you're just figuring this stuff out?
The market is still fairly red. That was my original point.
I have forgotten lessons that you haven't learned yet.
Maybe you can joing Simon Black in Gstaad for happy hour...
Good technical trader or not, no one knows with certainty what direction the market will move hour by hour. If they did, they sure the hell wouldn't be playing with a ZH chat board on a Friday afternoon. But good for you if you can make a few bucks in the trading environment. I'll give you a free lesson- if you keep playing long enough you'll lose.
Lol, I forgot how many experts are here that know absolutely everything. And plenty of good traders jerk off on chat boards btw it kills the time.
It's going to be a another huge party at The Hamptons this weekend after this intraday v-bottom based on yet another hope of the fabled "second half recovery" spawned by 8 consecutive months of sub 2% 10-yr. Treasury Yields.
LOL....
Myopic ass clown.
Remember, Robo makes most of his money blowing bankers at the Hamptons.
Correction ...
"Robo makes ALL of his money blowing bankers at the Hamptons."
barliman
Most?
SheepDog-One is misinformed ...
RobotTrader takes it up the ass for free.
He believed Hilsenrath's other rumor that Robo was charging MORE for taking it in the ass.
barliman
That ain't no V, it's a backwards J. But who's looking.
Somebody better run a "buy" program or "rumor" program again to get the ES above 1360 before the close.
Remember when Charlie Gasparino would come on right at the end of the day, end of the week and have some BS rumor to announce to pull a stick save of the market? This shit just gets old.
i canT wait for the Monday open...
I'm thinking we'll see a serious "gap and crap" Monday morning.
Transports have been trading sideways for 6 months. Wonder what happens when they finally break out of this trading range?
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=djta&ins...
Will Richard Russell and Tim Wood issue a buy signal? Or will they still be touting the "Mother of All Tops" in a secular bear market?
hey jack hole can you stick all your "wonder if" msgs in one post. I know you like to read your own drivel but really be considerate.
RoboTarder do you ever get the feeling no one fucking likes you?
Robotarder: See post, red-arrow down, scroll. Do not read. MY protocol. Note: same with MDB, ORI. Sorry. Stop spamming your website. (TF?)!
One day this shit is going to hit the fan and people will be doing swan dives off the buildings again on wall street.
I will be waiting at the bottom of the street with my hanky to try to catch them. Maybe not .
I have a better headline:
Our Humanity: Interested in locking central bank doors and burning them to the ground
I have an algorithm that notifies me when he spews. It covers my shorts & puts me long for 30 minutes. I had to re-program it from 45 mins. a month ago and 3 days at the beginning of 2012. I will be sad to see it go but it can't be helped. Even pavlov couldn't get the dogs to drool over shit.
The Algo's are becoming more and more correlated because they are adapting to the same bullshit.
This does not bode well when a truly exogenous event happens.
Their code obviously has damping factors built in, but my experience (with multi million line code base) is that there is no way they could have tested it well enough to handle what is coming.
AAPL closes over $600 again. I guess jobs don't matter, and King World News will be posting 6 more "expert" articles on how the financial system is going to collapse, "any minute now, I swear!!"
This rap is getting old. You're nothing more than a parrot. You also steal/repeat everything that Rasputin says on the other forum.
the financial system is going to collapse, on a long enough timeline, i swear!!
.
the collapse wonT happen "any minute now" because TPTB r TBTF
It's pretty sad actually. Really shows what kind of lemmings/muppets are at play in today's market. Not to mention the disdain and disrespect the market masters have for those lemmings, to knowingly play them like this.... They are the market maker's prey.
Me thinks someone owes Hilsenrath a bottle of Bollinger! Nice stick save man, nice!
Great, so the FED is going to buy MBSs. This is after the real-estate market has gotten killed. People are losing their houses in foreclosure or the newest trick on eminent domain. But wait if the FED can drive down the cost of mortgages, then the financial community can swoop in and finance all of the distressed real estate at the bottom, then rent the porperties back and higher and higher rents to the people they just stole the houses from. The only available credit is to the inside elite who were responsible for the original problems, packaged the loans, securitized the loans, then foreclosed on the hapless masses; only to then have the available credit via the FED's printing machine at the end of the day to wind up with the properties at distressed prices. When will main street figure out that by allowing too big to fail, they will lose everything in the propping up of the Banks?
1- Euro has retraced and gone below last works stupid rally -CHECK
2- SPAINS 10 YR IS BACK TO 7%- CHECK
3- CHINA AND EURO LOWING RATES- CHECK
4- OIL DOWN OVER $3- CHECK
5-JOBS NUMBER LOW AND RIDICULOUS- CHECK
6-world slowdown and recession in most major countries- CHECK
of course this all equals a last hour semi rally- HoW could I have been so stupid?
Manipulation of LIBOR is nothing compared to the HFT algos.
Just go back to "fat finger" close Thursday week ago through today and compare Asia, Europe and Wall street.
Why British MPs and FSA wanted to open the door to Pandora's Box over LIBOR manipulation, I have no clue. Maybe, just maybe, some stupid idealist will do the same with the HFT algos, maybe?
Was Bill Gross right Bill Gross just hasn't made the right bribes yet . The right price and they will dump those toxic (fraud) MBS on the muppets .
sick
If we get some kind of major global disturbance or some kind of problem ... So I read this just as watch Iran fire ballistic missiles.
Perfect setup!!! Wall Street is forcing Ben Bernanke and the fed's hand to do more QEing. Take down the markets to the point where the dollar trasher, Bernanke and the fed step in to QE.
Bernanke and the Fed will print until everyone rushes to dump the US dollar, that is until hyperinflation triggers.
Bernanke already stated if the economic situation worsens he will print. Massively inflate.
Maybe the Federal can go out with a bang on Dec, 2013, it's 100th year anniversary.
"Monetary policy still does have some capacity to strengthen the economy by easing financial conditions,"
"However, Mr. Bernanke has made clear he believes Fed policies can boost growth."
What a fcking idiot. Let him push rates to negative infinity. If the average private sector employee did their job like The Beard and Greenie they'ld be fired or sanctioned.
a viagra(QE) a day keeps Dr. Bernanke awake.
.....if we get some kind of major global disturbance....
Does he know something we don't?
My gold isn't working for me... someone help
I just hope Barry O tells us when to sell stocks!
He nailed the Buy call.
M-m-m-m-more h-h-h-heroin. NOW!
Eat your meat!
http://shutupnsing.wordpress.com/2012/07/07/scaling-the-wall-with-tyler-roger/