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European equity markets...
And European Sovereign Bond markets...
is this just the beginning
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 ... »
"hope is not a strategy"
Hope on a rope... with a noose at the end.
"making it up as you go along is not a plan"
Draghi: "It's pointless to short the Euro"
Tell that to the guy who just had his offer filled at 1.24.
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.
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.
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.
...they have only been doing it for the guts of a few hundred years. Big fish eat the little ones mate,(when they can).
Misplaced comma: Big fish eat the little ones, mate (when they can).
Thank you for taking the time out from your chaotic masturbation schedule to correct me.
Why the negativity? I found it slightly humorous.
Mario Draghi, the Court Jester of Kickanistan.
Euro is irreversible!!!
"Do you hear that, Mr. Anderson? That is the sound of Inevitability."
This crazy back andf forth must be hurting investor confidence.
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.
The euro is irreversible. I do not think that means what he thinks it means.
The Euro dropped during my statements? Inconceivable!
First it was Simon "Harry" Potter, and now Mario "Vizzini" Draghi.
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.
I used to enjoy laughs like this almost everyday on ZH. Ah, thanks for that. :-)
I thought EU had 5 days to sort it all out, as per Soros.
Seeking Alpha " Draghi all hat, no cattle"
The can fell off the cliff...
Someone should go after it.
Didn't occur to you that you are in the can did it? Just saying.
That explains the vertigo. I thought it was just my hangover.
do bank turds have wings?
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.>
Financial porn without the laugh sound track just doesn't do it for me. Butt......whatever floats your financial boat is fine by me. :)
Draghi is just setting up the markets for the next verbal blow job.
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.)
OK ZH Cheerleading Squad, let's hear it:
Rim Tim Tim!
Lie Draghi Lie!
give Us Pie in the Sky!
He best start tickling the Brusca.
"I got my big feet in the window,and my head right on the ground."
Draghi is a lying douchbag!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
just wait until everyone comes back from vacation....
What were they thinking?
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.
Steve LIESman- "This is big"
LIESman isn't talking about his rod, thats for sure.
that question almost implies that you think we still have a free press ... we don't.
And later today, as usual, we'll be staring in disbelief as the board turns green
Nasdaq went green for a moment already.
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.
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
Queue the Charlie Daniels' song, Still In Saigon.
My Brother calls me a killer, my daddy calls me a vet.
can you spare some hope for some change..i will pay you in euros..lol
Enough with the jawboning, get to the blowjob already.
And Draghi is correct. He didn't say anything about buying bonds in London. :) Bitchezzzzz.
Draghi waits for critical moment to act.?
It's right now the moment stupid Italian man.
That press conference could have been summarized in one sentence. " The ECB is keeping rates @ .75% , and have a shitty day..."
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.
drago is his name bullshit is his game! and game is on.
... and his first name isn't Mario
... it is Marionette
So we're right back to where we were on July 24, but a few more Q3 revisions down? Haha, nice move central bankers.
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.
How do you make this determination? It has been going on for so long now...Kick the can is a hell of a sport.
Stop it you're scaring me and my xanax script doesn't get filled till next week!
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?
The equivalent here is to lie some more. Yes, eventually the walls will collapse, but until the lies stop working, they will continue.
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.
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.
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.
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.
Just watch this go green in minutes. This market is high on denial. Climbing a 'wall of worry', price generates its own positive spin.
While waiting for the QE, the PPT will make sure we don't drop much.
RUN!!!! Buy USD!!!! SELL EURO!!!! A "no-brainer" for sure...
The REALLY perverse thing is that GOLD is supposedly a "risk asset"!!!!!!!?!?
I'm taking orders now for fresh popped pop corn delivered on Novembered 6th. Fitty cents a bag.
I'm shy to pay 50cent now, but I have the idea that the price will climb very soon.
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.
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...
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.
Draghi is really showing those speculators who is boss.
He actually is, isn't he?
edit: And it ain't him.
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.
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.
Spanish 10 year bonds back over 7%.
Time to fix Europe again!
Financial Markets Today
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.
If it really crashes, can you trust your counterparties to have what they need to cover?
A good coat of fire would fix it.
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...
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