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Hope On. Hope Off

Tyler Durden's picture





 

Sigh...

European equity markets...

 

And European Sovereign Bond markets...

 


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Thu, 08/02/2012 - 09:28 | Link to Comment EZT
EZT's picture

is this just the beginning

Thu, 08/02/2012 - 09:36 | Link to Comment bank guy in Brussels
bank guy in Brussels's picture

Just a 'continuing' ... of a euro-farce yet to unfold in multiple stages yet

Need that big 'crisis' yet, to allow the big QE, bond-buying & etc

Still might be a while ... maybe later in August, maybe September, maybe even later ...

Our popular Euro-Football match of 'Tough Germanic Bankers' vs 'Latin Money Printers' is getting good ratings, so the show can continue for a while

People around the world believe it is a 'Real Fight' here ... though it is actually the Pro-Wrestling-Model at work, like in the US Presidential Pro-Wrestling of 'the Mormon' vs 'the Muslim' aka Gay-Basher vs the Gay-Arranger ...

As Jim Sinclair has long said:

« QE is coming. About that there is no doubt ... but not on anyone's schedule ... »

Thu, 08/02/2012 - 09:55 | Link to Comment dow2000
dow2000's picture

"hope is not a strategy"

Thu, 08/02/2012 - 11:17 | Link to Comment Lost Wages
Lost Wages's picture

Hope on a rope... with a noose at the end.

Thu, 08/02/2012 - 11:54 | Link to Comment merizobeach
merizobeach's picture

"making it up as you go along is not a plan"

Thu, 08/02/2012 - 09:29 | Link to Comment Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

Draghi: "It's pointless to short the Euro"

 

lol me

Thu, 08/02/2012 - 09:33 | Link to Comment Itch
Itch's picture

Tell that to the guy who just had his offer filled at 1.24.

Thu, 08/02/2012 - 09:43 | Link to Comment Muppet of the U...
Muppet of the Universe's picture

I swear to god they are engineering this market with their commentary and shit.  Like, they fucking time everything they do, just fuckin right.  especially in currency markets.  It's amazing.

Thu, 08/02/2012 - 09:50 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

What is it about "headline reading algorithm" you do not understand?

Do you think the algorithm designers cannot talk to the media to tell them what is looked for?

STOP TRADING.  Get out of the market.  It no longer exists.

Thu, 08/02/2012 - 09:53 | Link to Comment Manthong
Manthong's picture

Um.. It’s called “Communications Policy”.

Back in the days when there was a semblance of morality, it was called “propaganda”.

And yes, it is an engineering process.

Thu, 08/02/2012 - 09:58 | Link to Comment Itch
Itch's picture

...they have only been doing it for the guts of a few hundred years. Big fish eat the little ones mate,(when they can).

Thu, 08/02/2012 - 10:06 | Link to Comment FedBunny
FedBunny's picture

Misplaced comma: Big fish eat the little ones, mate (when they can).

Thu, 08/02/2012 - 10:16 | Link to Comment Itch
Itch's picture

Thank you for taking the time out from your chaotic masturbation schedule to correct me.

Thu, 08/02/2012 - 10:46 | Link to Comment mvsjcl
mvsjcl's picture

Why the negativity? I found it slightly humorous.

Thu, 08/02/2012 - 09:35 | Link to Comment piliage
piliage's picture

Mario Draghi, the Court Jester of Kickanistan.

Thu, 08/02/2012 - 09:49 | Link to Comment saturn
saturn's picture

Euro is irreversible!!!

Thu, 08/02/2012 - 11:57 | Link to Comment merizobeach
merizobeach's picture

"Do you hear that, Mr. Anderson?  That is the sound of Inevitability."

Thu, 08/02/2012 - 09:30 | Link to Comment DavidJ
DavidJ's picture

This crazy back andf forth must be hurting investor confidence.

Thu, 08/02/2012 - 10:01 | Link to Comment Hype Alert
Hype Alert's picture

The machines love it.  Investors, not so much.  The more retail investors check out of the racket, the more it's just left to the machines and becomes easier to "intervene",  with what was once called manipulation.

Thu, 08/02/2012 - 09:31 | Link to Comment insanelysane
insanelysane's picture

The euro is irreversible.  I do not think that means what he thinks it means.

Thu, 08/02/2012 - 09:40 | Link to Comment Biggvs
Biggvs's picture

The Euro dropped during my statements? Inconceivable!

First it was Simon "Harry" Potter, and now Mario "Vizzini" Draghi.

http://www.youtube.com/watch?v=1-b7RmmMJeo

Thu, 08/02/2012 - 09:48 | Link to Comment Muppet of the U...
Muppet of the Universe's picture

maybe he just chose his words wisely. 

Notice.  He never lies.  He never does anything illegal.  Ever. 

 

In fact this entire collapsing of the world economy... was completely legal. 

The only people that have broke the law are the occasional trader, pretty much every bank trader, and politicians.

The only people to blame?  The sheep.  Crime?  Embracing Idiocracy.

Thu, 08/02/2012 - 11:53 | Link to Comment merizobeach
merizobeach's picture

I used to enjoy laughs like this almost everyday on ZH.  Ah, thanks for that.  :-)

Thu, 08/02/2012 - 09:31 | Link to Comment LULZBank
LULZBank's picture

I thought EU had 5 days to sort it all out, as per Soros.

Thu, 08/02/2012 - 09:31 | Link to Comment viator
viator's picture

Seeking Alpha " Draghi all hat, no cattle"

Thu, 08/02/2012 - 09:31 | Link to Comment Gandalf6900
Gandalf6900's picture

The can fell off the cliff...

Thu, 08/02/2012 - 09:34 | Link to Comment IndicaTive
IndicaTive's picture

Someone should go after it.

Thu, 08/02/2012 - 09:37 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Didn't occur to you that you are in the can did it?  Just saying.

Thu, 08/02/2012 - 09:47 | Link to Comment Biosci
Biosci's picture

That explains the vertigo.  I thought it was just my hangover.

Thu, 08/02/2012 - 09:38 | Link to Comment Gandalf6900
Gandalf6900's picture

do bank turds have wings?

Thu, 08/02/2012 - 09:32 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

No...no...we have it all wrong. Draghi is just setting up the markets for the next verbal blow job.

<Yes dear, I just said blow job on ZH. No dear, I'll never say blow job on ZH again.>

Thu, 08/02/2012 - 09:35 | Link to Comment MsCreant
MsCreant's picture

Aural sex?

Thu, 08/02/2012 - 09:57 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Financial porn without the laugh sound track just doesn't do it for me. Butt......whatever floats your financial boat is fine by me. :)

Thu, 08/02/2012 - 09:37 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Draghi is just setting up the markets for the next verbal blow job.

...and when Draghi drags Timmah into the mess, it'll be Rim Tim Tim.

(Urgh, I threw up a little just typing that.)

Thu, 08/02/2012 - 10:25 | Link to Comment Nobody For President
Nobody For President's picture

OK ZH Cheerleading Squad, let's hear it:

 

Rim Tim Tim!

Lie Draghi Lie!

Central Bankers

give Us Pie in the Sky!

Thu, 08/02/2012 - 09:51 | Link to Comment fuu
fuu's picture

He best start tickling the Brusca.

Thu, 08/02/2012 - 10:06 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

"I got my big feet in the window,
and my head right on the ground."

http://www.youtube.com/watch?v=Is_UwhTJm7o&t=1181s

Thu, 08/02/2012 - 09:32 | Link to Comment Need More Cowbell
Need More Cowbell's picture

Draghi is a lying douchbag!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Thu, 08/02/2012 - 09:32 | Link to Comment Genève Barbegazi
Genève Barbegazi's picture

just wait until everyone comes back from vacation....

Thu, 08/02/2012 - 09:33 | Link to Comment Hype Alert
Hype Alert's picture

What were they thinking?

Thu, 08/02/2012 - 09:33 | Link to Comment Cursive
Cursive's picture

The fact that reporters are openly mocking Draghi (who looks like a cheesy Peter Sellers spoof character) only exposes the financial media for the fawning idiots they are.  Why did no one in the financial media (save Zero Hedge and a few individual commenters like Mark Grant) call Draghi on his bluff from last week.

Thu, 08/02/2012 - 09:35 | Link to Comment azzhatter
azzhatter's picture

Steve LIESman- "This is big"

Thu, 08/02/2012 - 09:38 | Link to Comment Clueless Economist
Clueless Economist's picture

LIESman isn't talking about his rod, thats for sure.

Thu, 08/02/2012 - 09:37 | Link to Comment bdc63
bdc63's picture

that question almost implies that you think we still have a free press ... we don't.

Thu, 08/02/2012 - 09:43 | Link to Comment HarryM
HarryM's picture

And later today, as usual, we'll be staring in disbelief as the board turns green

Thu, 08/02/2012 - 10:03 | Link to Comment dwayne elizando
dwayne elizando's picture

Nasdaq went green for a moment already.

Thu, 08/02/2012 - 09:33 | Link to Comment BandGap
BandGap's picture

And all this because the ECB can't buy more debt? Step back and think about it. This is like a classic seventh grade boy-girl breakup/makeup/breakup..........

Take your medicine, Drago.

Thu, 08/02/2012 - 09:34 | Link to Comment insanelysane
insanelysane's picture

Queue the Billy Joel song, Goodnight Saigon.

 

And we would all go down together

We said we'd all go down together

Yes we would all go down together

 

Thu, 08/02/2012 - 09:40 | Link to Comment Clueless Economist
Clueless Economist's picture

Queue the Charlie Daniels' song, Still In Saigon.

 

My Brother calls me a killer, my daddy calls me a vet.

Thu, 08/02/2012 - 09:34 | Link to Comment mrktwtch2
mrktwtch2's picture

can you spare some hope for some change..i will pay you in euros..lol

Thu, 08/02/2012 - 09:36 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Enough with the jawboning, get to the blowjob already.

Thu, 08/02/2012 - 09:36 | Link to Comment Peter K
Peter K's picture

And Draghi is correct. He didn't say anything about buying bonds in London. :) Bitchezzzzz.

Thu, 08/02/2012 - 09:37 | Link to Comment milanitaly
milanitaly's picture

Draghi waits for critical moment to act.?

It's right now the moment stupid Italian man.

Thu, 08/02/2012 - 09:38 | Link to Comment Yen Cross
Yen Cross's picture

 That press conference could have been summarized in one sentence. " The ECB is keeping rates @ .75% , and have a shitty day..."

Thu, 08/02/2012 - 09:45 | Link to Comment madcows
madcows's picture

So, dropping it to .5 or .25 would have mattered?

The FED is at zero and our economy still sucks, and our banks are still bankrupt.

Go ahead, take a trillion dollar loan at 0% and see if you can pay it back... "but, but, but the interest payments are $0..."  Right, and the priciple payments are more than you have in your piggy back.  have a nice day.

Thu, 08/02/2012 - 09:38 | Link to Comment caimen garou
caimen garou's picture

drago is his name bullshit is his game! and game is on.

Thu, 08/02/2012 - 11:09 | Link to Comment Instant Wealth
Instant Wealth's picture

... and his first name isn't Mario

... it is Marionette

Thu, 08/02/2012 - 09:38 | Link to Comment Hype Alert
Hype Alert's picture

So we're right back to where we were on July 24, but a few more Q3 revisions down?   Haha, nice move central bankers.

Thu, 08/02/2012 - 09:39 | Link to Comment theTribster
theTribster's picture

Shaping up to be the worst September in the history of the financial markets. The crash will start in earnest in the next few weeks, by September things will begin the path to chaos. The markets and the participants are stealing the last little bit before the end.

Thu, 08/02/2012 - 09:42 | Link to Comment MsCreant
MsCreant's picture

How do you make this determination? It has been going on for so long now...Kick the can is a hell of a sport.

Thu, 08/02/2012 - 09:47 | Link to Comment dwayne elizando
dwayne elizando's picture

Stop it you're scaring me and my xanax script doesn't get filled till next week!

Thu, 08/02/2012 - 09:40 | Link to Comment MsCreant
MsCreant's picture

I watched my father in law's company go bankrupt. So much denial. Even mortgaged his paid for house to try to save the company. Went without pay, his kids who worked for him went without pay for almost 2 years (I know, I was the spouse carrying this one). Everyone around knows what is happening, but they just can't own it. Finally, when the bank took the family home, reorganization HAD to happen.

Wonder what the equivalent here is?

Thu, 08/02/2012 - 09:42 | Link to Comment Hype Alert
Hype Alert's picture

The equivalent here is to lie some more.  Yes, eventually the walls will collapse, but until the lies stop working, they will continue.

Thu, 08/02/2012 - 09:48 | Link to Comment FlyoverCountryS...
FlyoverCountrySchmuck's picture

They received "HOPE!-N-CHANGE!". You didn't REALLY think Unicorns existed, did you?

As the Chicago Socialists have been preaching for decades, you can't have REAL Soccialism without first destroying the economy, to the point where the sheep BEG for Socialism to save them.

Thu, 08/02/2012 - 10:05 | Link to Comment Winston Churchill
Winston Churchill's picture

HHear you there.

Its amazing hoe long you can keep the creditors at bay.

They trust you,until they don't.

Then poof, everything happens at once.

Thu, 08/02/2012 - 10:07 | Link to Comment slyhill
slyhill's picture

It isn't equal. They are thier own creditors. They are their own debtors. They will not forclose on themselves. It would be inconceivable to them, an impossibility.

They own the bond holders. There is nothing bond holders  can do without impairing thier own positions.

Best we can hope for is they start to feed on themselves. MFG / PFG / Knight type events start to propagate and intensify.

Sorry to hear about your families company.

Thu, 08/02/2012 - 11:33 | Link to Comment MsCreant
MsCreant's picture

Thanks. It was a long time ago, but it did help break up the marriage. Everyone was in denial, except me and my mother-in-law. No one cared what we thought. I was looked at as Debbi Downer for saying what I thought to be true. My mother in law and I were the ones supporting these guys while they lost more than they needed to by digging the holes deeper. Not all bankruptcies are the same, but man this feels emotionally similar.

Thu, 08/02/2012 - 09:40 | Link to Comment gjp
gjp's picture

Just watch this go green in minutes.  This market is high on denial.  Climbing a 'wall of worry', price generates its own positive spin.

Thu, 08/02/2012 - 09:42 | Link to Comment john_connor
john_connor's picture

STFR

Thu, 08/02/2012 - 09:46 | Link to Comment optimator
optimator's picture

While waiting for the QE, the PPT will make sure we don't drop much.

Thu, 08/02/2012 - 09:47 | Link to Comment Kreditanstalt
Kreditanstalt's picture

RUN!!!!    Buy USD!!!!    SELL EURO!!!!   A "no-brainer" for sure...

The REALLY perverse thing is that GOLD is supposedly a "risk asset"!!!!!!!?!?

 

Thu, 08/02/2012 - 09:49 | Link to Comment Getting Old Sucks
Getting Old Sucks's picture

I'm taking orders now for fresh popped pop corn delivered on Novembered 6th.  Fitty cents a bag.

Thu, 08/02/2012 - 10:10 | Link to Comment Haager
Haager's picture

I'm shy to pay 50cent now, but I have the idea that the price will climb very soon.

Thu, 08/02/2012 - 09:50 | Link to Comment CvlDobd
CvlDobd's picture

I'm with the fonz

He talke the fucker up by 5% and spy falls .49% when he doesn't deliver. Central banks won this round.

Assholes.

Thu, 08/02/2012 - 09:50 | Link to Comment youngman
youngman's picture

I am starting to hear a little "that is all" from the talking heads...kind of like when you buy that ticket at the county fair to see the WORLDS BIGGEST RAT......and all there is a big rat....you feel kind of stupid...

 

Thu, 08/02/2012 - 09:51 | Link to Comment wagthetails
wagthetails's picture

the Central banks pumping hope will win 99.9% of the time.  Basically, becasue there is always hope, until there isn't any.  So the hope gets 5-6% gains in the markets, and the disappointment only takes it back another 2-3% as there is still hope...and so goes the (almost) never ending step-up in markets....all leading to another giant central bank caused bubble.  just don't go broke trying to time it. 

 

Thu, 08/02/2012 - 09:55 | Link to Comment Rick64
Rick64's picture

Draghi is really showing those speculators who is boss.

Thu, 08/02/2012 - 11:27 | Link to Comment MsCreant
MsCreant's picture

He actually is, isn't he?

 

edit: And it ain't him.

Thu, 08/02/2012 - 09:56 | Link to Comment Satan
Satan's picture

When all you got in your bag is a defibrillator , you have to wait for the patient to die before you can treat him...and hope for the best.

Thu, 08/02/2012 - 09:57 | Link to Comment Hype Alert
Hype Alert's picture

More good news from ANF, not.  That should help SPG defy gravity some more.  Individually stocks are getting hammered one by one, but the market keeps it's hopium going.

Thu, 08/02/2012 - 09:59 | Link to Comment Zgangsta
Zgangsta's picture

Spanish 10 year bonds back over 7%.

Time to fix Europe again!

Thu, 08/02/2012 - 10:45 | Link to Comment localpacific
Thu, 08/02/2012 - 10:50 | Link to Comment Doublescythe
Doublescythe's picture

Jeremy Grantham is right about one thing - "Let's get it over with." 

This market needs to break down already - I continue to be heavily hedged with a short bias.

As a result, I eek out very small gains every week (except for my AAPL position that has just ripped all year).

I need some kind of mini-collapse to make my year.

LET'S GET IT OVER WITH.

Thu, 08/02/2012 - 11:26 | Link to Comment MsCreant
MsCreant's picture

If it really crashes, can you trust your counterparties to have what they need to cover?

Thu, 08/02/2012 - 11:31 | Link to Comment warezdog
warezdog's picture

A good coat of fire would fix it.

Thu, 08/02/2012 - 13:45 | Link to Comment ATG
ATG's picture

Sold to Close Long SPY Aug 136 calls at a loss today (our first) since 2 July 2012.

Bought to Open Long SPY puts with news Kofi Annan resigned as Syria peace envoy, 0 officially arming "rebels,"

Ayatollah Khamenei says war in weeks, Israeli former Intelligence Head agrees and Putin put strategic nuclear missiles in Cuba.

Maybe better prices for the puts ahead ~ we'll see... 

http://richcash8tradeblog.blogspot.com/2012/07/rich-cash-overnight-options.html

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