Idiot Market Jumps On 12 Hour Old News Of Yet Another Chinese Euro Bailout, Since Refuted

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Wed, 10/26/2011 - 13:47 | 1813301 GeneMarchbanks
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Cue the ping-pong players!

Wed, 10/26/2011 - 13:50 | 1813323 redpill
redpill's picture

Don't be like that Tyler, can't we just PRETEND it's new?  The only thing we have to fear is reality and math!  If we conquer those, stocks will go to the moon!  Stop trying to hinder progress!

Wed, 10/26/2011 - 13:54 | 1813343 Ahmeexnal
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hope it goes higher....I want to grab FAZ at 40.

Wed, 10/26/2011 - 16:27 | 1814125 CPL
CPL's picture

TZA slides faster, volume is about the same.  Both FAZ and TZA are at the "buy" level again depending on the time of day you are looking...


Wed, 10/26/2011 - 14:36 | 1813607 Smiley
Smiley's picture

"The only thing we have to fear is reality and math!"



Wed, 10/26/2011 - 13:56 | 1813356 kengland
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Is the music in the background the equivalent of Chinese rasta? LMAO! Nothing says Rasta like Yangzee

Wed, 10/26/2011 - 13:59 | 1813375 GenX Investor
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You never go FULL RETARD!

Wed, 10/26/2011 - 14:29 | 1813573 tmosley
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Just another RICroll.

Wed, 10/26/2011 - 13:49 | 1813303 NEOSERF
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EU bids to slash Greek debt by third
Leaders target 120% of GDP ratio by end of decade - FT front page

WHAT A JOKE...and I worried about my shorts...

Wed, 10/26/2011 - 14:08 | 1813446 Uncle Sam
Uncle Sam's picture

I'm no fan of Paul Krugman, but I don't doubt these numbers.

Re: Iceland/Ireland CDS -

NYT, Oct. 25 - 'Prices are down from a spike last summer, but still very high. And for the record: as of posting time, the Irish 5-year CDS was 776, the Icelandic 5-year CDS 280.'

From Golemxiv:

'Unemployment in Iceland is 7% while in Ireland it is about 14%.'

These numbers are not lost on anyone in Europe. They all know what the answer is, it's just a matter of time. First ones out win.

Wed, 10/26/2011 - 13:48 | 1813305 Stoploss
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I thought it was because i farted. Sorry.

Wed, 10/26/2011 - 14:09 | 1813306 hambone
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The idiots are those humans who read this news earlier and didn't know it's healing, soothing powers...only later artificial computer genius knew the significance and thus the rally?!?  Fukking HFT, algo genius knows no timeline.

Pity Tyler(s) for they stumbled accross this pearl but threw it back into the sea!!! 



U.S. stocks rally on Europe-related reports

Rally time bitchez...Federally mandated too!!!

Wed, 10/26/2011 - 14:19 | 1813520 Manthong
Manthong's picture

I can hardly wait to see how the market reacts to this:


Just in: AP (submitted 9-Nov-1513) Spanish emissary Hernando Cortez has informed the European financial leadership that he has secured gold backed funding from Banco Montezuma Mexicana sufficient to recapitalize all Eurozone countries and banks.

Wed, 10/26/2011 - 14:44 | 1813676 long-short
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hilarious.  its baffling me that the markets continue to melt up.  especially as the haircut clause will be creating a domino effect on recaps and sovereign debt confidence to be sure, per dow jones: Bigger Haircuts Would Make Greek CDS Trigger More Likely:  

Wed, 10/26/2011 - 13:48 | 1813307 NDXTrader
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Not to mention Brazil, India and Russia have all said repeatedly they will not participate

Wed, 10/26/2011 - 13:48 | 1813308 machineh
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Well, it gave us a nice countertrend a-b-c intraday pop.

Back to the lows, bitchez!

Wed, 10/26/2011 - 13:59 | 1813309 TruthInSunshine
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Knowing that underlying fundamentals always catch up to and beat down unicorns, rainbows & pixie dust, I find the short term moves (whether 3 years on a longer chart or 3 minutes on a much shorter one) comical.

Math, while cold and sterile, at least never lies (statistics do when 'massaged,' but that's not math; that's man warping or abusing math, and falsifying some part of the equation towards an ulterior motive), and that's where to always look to in order to glean the truth.

Math says the only 'solutions' to the EuroDebtapocalpse are a) extremely painful for equity and credit markets, or b) extremely painful for equity and credit markets.

Take your pick, and get your half-life bets on!

Wed, 10/26/2011 - 14:01 | 1813390 qussl3
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Or they could print and make it extremely painful on the masses instead.

The rich cant possibly be taking a haircut can they?

Wed, 10/26/2011 - 13:49 | 1813314 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Well, reuters, like the guardian, should be another media outlet that should be shutdown for market manipulation...

... well, if this wasn't a fascist society it would anyway.

Wed, 10/26/2011 - 14:27 | 1813567 TeamDepends
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Fascist, socialist, communist, is there really any difference?  We believe that there are but two forms of government:  1) People on top-government on bottom or 2) government on top-People on bottom.  As Americans, we firmly believe our Founding Fathers tried their level best to give us #1.  How it slipped through our hands is well documented and sad sad sad.......

Wed, 10/26/2011 - 13:49 | 1813315 Panic Panic Panic
Panic Panic Panic's picture

Seriously, WTF?

Wed, 10/26/2011 - 13:52 | 1813335 Incubus
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you must be new around here.

Wed, 10/26/2011 - 14:03 | 1813411 ReallySparky
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you owe me a monitor.  Just spewed diet soda all over it.  Funny.

Wed, 10/26/2011 - 13:50 | 1813317 Boilermaker
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If only I knew they were going to do that 10 minutes prior.....

Wed, 10/26/2011 - 14:01 | 1813396 Blano
Blano's picture

10 minutes earlier was when I bought my SPY puts.  Sheesh.

Wed, 10/26/2011 - 13:50 | 1813318 TradingJoe
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At 1275ish the lastest I'd put on some nice shorts, for starters!

Wed, 10/26/2011 - 14:02 | 1813361 hambone
hambone's picture

Totally - when the S&P hits 12,750(ish) I'm totally going short!!!

Wed, 10/26/2011 - 13:50 | 1813319 YesWeKahn
YesWeKahn's picture

Are you sure? Maybe they have another rumor not public yet.

Wed, 10/26/2011 - 13:51 | 1813325 Godisanhftbot
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 In order to trade this market, you have to BE an idiot or hire one.

Wed, 10/26/2011 - 13:53 | 1813336 jdelano
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if that's true than Tilson really must be a genius...

Wed, 10/26/2011 - 13:51 | 1813326 Dr. No
Dr. No's picture

Algo search routines must be glitched and running behind 12 hours?

Wed, 10/26/2011 - 13:52 | 1813328 Odin
Odin's picture

Idiot market or algos?

Wed, 10/26/2011 - 13:52 | 1813333 Mark123
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Um, I thought there was supposed to be a shock and awe decision out of Europe today?


Do they normally wait till the evening? 

Wed, 10/26/2011 - 13:54 | 1813338 Ted Baker
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Wed, 10/26/2011 - 13:56 | 1813352 jdelano
jdelano's picture

stick to funky ties and fashion, ted.  Economics seems to be a little beyond your grasp.

Wed, 10/26/2011 - 13:58 | 1813372 NDXTrader
Wed, 10/26/2011 - 13:54 | 1813340 JPM Hater001
JPM Hater001's picture

I heard from my brothers dry cleaners cousin's girlfriend who was just in getting her nails done and she heard from the girl doing her nails that he best friends neighbor in China who runs a rickshaw overheard some men talking about a bailout.

So this must be true.

Wed, 10/26/2011 - 14:09 | 1813452 s2man
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Buy the rumor!

Wed, 10/26/2011 - 13:54 | 1813342 TooRichtoCare
TooRichtoCare's picture

I heard it's cos Germany is gonna take over Crete & Mykonos in exchange for bailing out the Greeks all on its own, and the French & co don't have to do anything now, and can spend their money bailing themselves out.

And now they won't have to have a designated German who wakes up at 5:00am and puts out towels all on all the prime pool-side loungers whilst the rest of them sleep until 10:00am.....they'll own the whole damn thing & will tell the Brits to bugger off and put their beach towels by the entrance to the toilets!

Wed, 10/26/2011 - 13:55 | 1813344 NDXTrader
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I bet the statement says "We sure would like the emerging economies to put money in our SPV" - market up 40 points on the wish

Wed, 10/26/2011 - 13:55 | 1813346 Piranhanoia
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I made the mistake of keeping a stock for 23 seconds. sorry.

Wed, 10/26/2011 - 13:55 | 1813350 slaughterer
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Let Liesman run with this old news, and see if the algos can push S&P past 1238 to break through the bearish H&S on the 5-day. 

Wed, 10/26/2011 - 13:55 | 1813351 dereksatkinson
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SPY was just filling the gap up and is bouncing off of that.  Not every move is based on news.

Wed, 10/26/2011 - 13:59 | 1813379 sabra1
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you mean the HFT's which are linked to all trading accounts, are engineered to run through all stops and limits!

Wed, 10/26/2011 - 13:56 | 1813358 PulauHantu29
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Argentina Orders Oil, Mining Exporters to Repatriate Funds Q


The decision by Fernandez, who nationalized the $24 billion pension fund industry and has called for a limit on purchases of farmland by foreigners, is part of an effort to slow capital flight estimated at $3 billion per month that is draining central bank reserves. The policy may make it harder to attract foreign direct investment to Argentina that the United Nations estimates fell 30 percent in the first half of the year.


...for those thinking about moving to Argentina....



Wed, 10/26/2011 - 14:01 | 1813398 machineh
machineh's picture

The other side of this story is that they will have to let the peso slide ... maybe to 6 to the dollar ... making Argentina cheaper for foreigners with dollars or euros.

Wed, 10/26/2011 - 13:56 | 1813359 sabra1
sabra1's picture

next rumour is that the 1932 depression has ended!

Wed, 10/26/2011 - 13:57 | 1813363 prophet
prophet's picture

[[ news flow trading is taunting an attack ]]

G-20 and the big few central banks along with some SWFs are huge, insidious and there will some truly awesome and shocking steps taken as failure is not an option

contract laws, financial accounting standards(a complete fraud anyway), treaties, ownership,  and anything else in the way will be plowed over 


Wed, 10/26/2011 - 13:58 | 1813369 mhoughgr
mhoughgr's picture

Dow always jumps between now and end of day .. especially if theres something bad happening (euro clown act),  plunge protection team putting US tax dollars to good use.

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