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Immediate FOMC Reaction - "The Face Your Rip Off" Unrally

Tyler Durden's picture


Market reponse in one chart. We expect about 10 more kneejerk reactions imminently before the market realizes this is not good.


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Tue, 08/09/2011 - 14:31 | 1543300 IMA5U
IMA5U's picture

and then the PPT came in and whipswaed the mkt higher...

Tue, 08/09/2011 - 14:32 | 1543308 Dick Fitz
Dick Fitz's picture

PPT might be a tad overwhelmed in this scenario. Got Gold?

Tue, 08/09/2011 - 14:33 | 1543314 HelluvaEngineer
HelluvaEngineer's picture

Nah, just a bunch of daytrading morons.  CNBC was ready with the positive spin.

Tue, 08/09/2011 - 14:31 | 1543302 Inibo E. Exibo
Inibo E. Exibo's picture

Apparently the inverse of ZH bandwidth utilization.

Tue, 08/09/2011 - 20:34 | 1544742 Ramboy
Ramboy's picture

Very true.  ZH bandwidth issues and server failures are always short term bottoms on the ES.

Tue, 08/09/2011 - 14:32 | 1543306 schoolsout
schoolsout's picture

and things are pretty much back to where they were as if the Fed never announced anything...mahvelous...simply mahvelous.

Tue, 08/09/2011 - 14:49 | 1543383 schoolsout
schoolsout's picture

Christ...I imagine a few accounts have just been decimated with the whipsawing going on

Tue, 08/09/2011 - 14:32 | 1543307 janus
janus's picture

i guess this is bearish for oil?

or is this all about oil?

Tue, 08/09/2011 - 14:33 | 1543311 OliverTwist
OliverTwist's picture

I'm afraid my silver trade will tank too ...

Tue, 08/09/2011 - 18:33 | 1544337 Zero Govt
Zero Govt's picture

Silver gone green, pinged off $37.00 like a jumping jack, up 1.20% passed $38 ...keep going you Silver Surfer, catch that Gold up like we know you can  

Tue, 08/09/2011 - 14:33 | 1543313 Peter_Griffin
Peter_Griffin's picture

Crashy McCrashy... kinda like this website.

Tue, 08/09/2011 - 18:37 | 1544352 Zero Govt
Zero Govt's picture

the Stock Markets a bit like bomb sites at the mo... ZH is more like musical chairs, you just have to try your luck to see if you can get your arse in!

Tue, 08/09/2011 - 14:33 | 1543315 baby_BLYTHE
baby_BLYTHE's picture

I want to rip Ben's face off, he is a monster!

Tue, 08/09/2011 - 14:48 | 1543377 MsCreant
MsCreant's picture

Yeah, but then what would you do with it?

I will say this, it is the only "face" I would want from Ben...

Tue, 08/09/2011 - 15:00 | 1543414 baby_BLYTHE
baby_BLYTHE's picture

I would wear it as a "Dead Skin Mask", to quote a Slayer song

Tue, 08/09/2011 - 15:31 | 1543529 Tree of Liberty
Tree of Liberty's picture

Too Funny!

"Nothing Worse Than A Woman's Scorn"


Tue, 08/09/2011 - 16:52 | 1543916 El Viejo
El Viejo's picture

Yeah, all the while they are being sweet and nice and polite and prim and proper - they are storing up the grapes of wrath. Don't push em over the edge, especially when the moon is full. Owwwwwwuuuuuuu

Tue, 08/09/2011 - 17:08 | 1543992 janus
janus's picture

i'm unfamiliar with that quote; and when it comes to the white-hot rage from the fairer sex, i admit i've received more than any tolerable share a man should be asked to the 'nothing worse' is a little wanting. 

have you ever been on the business end of 10 razor sharp claws?  the situation is terribly difficult to's all hell's fury and worse, WAY worse -- you can take my word for it or ole bill shakespeare's; either way, the point is the same.


Tue, 08/09/2011 - 14:34 | 1543316 Caviar Emptor
Caviar Emptor's picture

Let them eat ZIRP!!

Tue, 08/09/2011 - 14:34 | 1543317 Spitzer
Spitzer's picture

It is as aggresive as Bernanke could get the board to agree on. For what that's worth.

I wonder what the Euro is doing............

Tue, 08/09/2011 - 14:36 | 1543323 chinaguy
chinaguy's picture

1.423 EUR

71.80 CHF a new fucking record gentlemen

Wed, 08/10/2011 - 00:12 | 1545199 StychoKiller
StychoKiller's picture

JPY is right back around 76.84 -- like the BOJ intervention never even happened!

Tue, 08/09/2011 - 14:37 | 1543334 Snidley Whipsnae
Snidley Whipsnae's picture

Slaughter was right about the leak... came about 11am... gold moved up from 1722 to 1752 while the DJ traded sideways and choppy for a loss of about 25pts.

The equities holders have just been thrown under the bus to save the bondholders ... and, to save the US from ANOTHER credit downgrade...

Tue, 08/09/2011 - 14:35 | 1543318 Transitory Disi...
Transitory Disinflation's picture









Tue, 08/09/2011 - 14:37 | 1543330 US Uncut
US Uncut's picture

Love it. !

Tue, 08/09/2011 - 14:36 | 1543320 A Lunatic
A Lunatic's picture

Bearish for baseball bats.

Tue, 08/09/2011 - 14:36 | 1543324 cowdiddly
cowdiddly's picture

ZZZZZZZZ......and back to your regularly scheduled market meltdown.

Tue, 08/09/2011 - 18:39 | 1544369 Zero Govt
Zero Govt's picture

Yep, 'Bombs Away'

Tue, 08/09/2011 - 14:37 | 1543325 LawsofPhysics
LawsofPhysics's picture

Free money for all primary dealers indefinitely, and NO SOUP FOR YOU!  LOL

Tue, 08/09/2011 - 14:37 | 1543329 HyperLazy
HyperLazy's picture

Volume on Bank of America stock: 329M...

Tue, 08/09/2011 - 14:37 | 1543331 hedgeless_horseman
hedgeless_horseman's picture

Birinyi' new ruler better be a carpenter's square.

Tue, 08/09/2011 - 15:57 | 1543639 janus
janus's picture

Hey, I know you -- didn't we meet on the square and part on the level? Or was it the other way roung?

Tue, 08/09/2011 - 14:37 | 1543332 RemiG2010
RemiG2010's picture

Read my lips: ZERO!

Tue, 08/09/2011 - 14:37 | 1543335 max2205
max2205's picture

Only 10?

Tue, 08/09/2011 - 14:37 | 1543336 Greater Fool
Greater Fool's picture

EUR basically unchanged since the announcement as of this writing, although it's been having a spasm similar to the S&P. Except the S&P is...ahem...not unchanged since the announcement. Unchanged since previous close, more like. For now.

Tue, 08/09/2011 - 14:37 | 1543337 Catullus
Catullus's picture

TARGET rates were supposed to add confidence? The Fed doesn't set rates. They target them. A giant nothingburger.

Tue, 08/09/2011 - 14:50 | 1543387 NotApplicable
NotApplicable's picture

FWIW, I'm fairly confident the Fed will target rates with a giant monetization gun.

Tue, 08/09/2011 - 14:55 | 1543413 Catullus
Catullus's picture

Thanks. Now want to take a guess how much that would be? Because until 2013 at the rate the USG is creating new bonds, they'd have to monetize over $3trillion. I'm sure theyll release that number at any moment now.

Tue, 08/09/2011 - 14:39 | 1543338 max2205
max2205's picture

Crash 2.01 coming to your terminals....a throw in the towel drop

Tue, 08/09/2011 - 14:41 | 1543342 Doyle Hargraves
Doyle Hargraves's picture

And S&P firmly back in the Red, Dow -172 and sinking fast,  wow they held out longer than I thought, about 25 minutes

Tue, 08/09/2011 - 14:45 | 1543365 Jean
Jean's picture

Always a little slow after a heavy lunch, actually a slow start scares me - means someone thought about for a few minutes before pulling the ripcord anyways.

Tue, 08/09/2011 - 14:46 | 1543372 Doyle Hargraves
Doyle Hargraves's picture

You mean thought about it and said fuck it I am not pulling the ripcord, just ride one in!

Tue, 08/09/2011 - 14:41 | 1543346 irishlink
irishlink's picture

Everywhere today the media has highlighted the fact that even cab drivers are buying gold. They are using this to highlight that we are in a gold bubble! I would counter that cab drivers are some of the most informed people I know.

Tue, 08/09/2011 - 14:45 | 1543368 Jean
Jean's picture

Not sure about buying, but if the cabbies are selling ...

Tue, 08/09/2011 - 16:05 | 1543669 Spitzer
Spitzer's picture

Like Ben Davies said, everyone is talking about it, but who actually owns it ?


The sheeple think they have this bubble thing figured out so they don't own gold.

Tue, 08/09/2011 - 14:41 | 1543351 kaiten
kaiten's picture

Market collapse 2.0

Tue, 08/09/2011 - 18:56 | 1544385 Zero Govt
Zero Govt's picture

Why's everyone sweating about a market collapse, we're ALL Bears here now Leo's topped himself (i would have sent flowers but needed a new alloy wheel cleaning kit)... isn't every fecker short and having a damn good time???

I've been short for friggin months, it's 'Pay Day'

Chill Out, we're on holiday

Tue, 08/09/2011 - 14:41 | 1543352 Cursive
Cursive's picture

This probably won't be good for gold or the inflationary investing thesis.

Tue, 08/09/2011 - 15:11 | 1543465 Smiddywesson
Smiddywesson's picture

LOL, deflation can never outrun spending and printing.  Everything is good for gold.

Tue, 08/09/2011 - 14:43 | 1543356 JohnG
JohnG's picture

Plunge. Just wow, nothingburger is right.

Fuck you Ben.

Tue, 08/09/2011 - 14:43 | 1543358 Doyle Hargraves
Doyle Hargraves's picture

We now return you to your regularly scheduled selloff...

Tue, 08/09/2011 - 16:55 | 1543934 El Viejo
El Viejo's picture

French CDS up 10% - just behind Russia and German above UK (on Bloomberg TV Banner)


Tue, 08/09/2011 - 14:45 | 1543367 John McCloy
John McCloy's picture

LOL What a fucking disaster..Can we call it or can we call it. 

0% Rates FOREVER..2008, 2009,2010,2011, 2012, 2013 get the fuck out of here. Home prices are still dropping with record low rates. It is not about the is about people not having credit worthiness, nor jobs nor the money to pay for these prices and they are all waiting for a housing crash before buying. We have students exiting college without jobs and massive loans. I cannot believe our nation is at the point where the Fed has created more dangerous bubbles ending up in more socialization of losses and more monetary stimulus to the point where we cannot reflate a bubble if we tried..

  Worse more..what if we did?? We now have record debt and never before seen QE programs and they still cannot address the core issue and let healthy deflation do the job it is designed to do which is bring balance back to supply and demand without artificial intervention. This is bonkers..2013..All the QEs and rates have done was jack up unemployment, lower home prices and hand over 500 Billion in savings stolen from taxpayers to give over to the banks. 

   Of course there can be no QE 3. Russia called us a parasite they posses oil, Oil is only 80 and would go to 110 in 5 trading days, Gold is at a record high and China has stated they are opposed to QE programs because we will be paying them back in Oreos. Ben if you reading PLEASE I know you have the desire to have history books written about you but allow them to be for the right thing. Circle off these gangster banking cartels and the dangers they oppose to market prices, let deflation gain hold and cure us by clearing bad debts. Did you not quote your hero when you said, "When the facts change I change my mind"?

   The facts have changed Ben. You really want to have books written about you aside from your actions being considered near treasonous..let those who put us here suffer and allow the middle class to grow again from the ashes..Yes it will be painful but this can only end in the destruction of a magical 200 years of unprecedented freedom if you launch QE3. 

  Even with this I cannot see how they cannot launch QE3 since nobody else can buy our debt but PD's knowing they will be able to POMO them back to the Fed. Become a hero the right thing otherwise your wasting that 1600. Nobody who can score a 1600 on their SAT's can not be aware that is is ineffective so eventually it boils down to "Are you incompetent or complicit?" 

     P.S. Ron Paul will be President in 2012

Tue, 08/09/2011 - 14:49 | 1543382 Doyle Hargraves
Doyle Hargraves's picture

We can only dream, he is in mid double digits in national polls now (15-20%), but he may end up on a plane flying somewhere, ala the clinton years if he gains too much traction.

Tue, 08/09/2011 - 15:16 | 1543481 Cathartes Aura
Cathartes Aura's picture

"we can only dream. . ."

all you folks just waiting for superman to come & save the day. . .

Tell everybody waiting for Superman
That they should try to hold on best they can
He hasn't dropped them, forgot them or anything
It's just too heavy for Superman to lift


no figurehead for the corporation has any power beyond what he's told.

Tue, 08/09/2011 - 15:11 | 1543397 RemiG2010
RemiG2010's picture

Hey, don't forget about non performing loans. No wonder BAC target price is the 'FFR' until mid 2013.

Tue, 08/09/2011 - 14:55 | 1543415 Stax Edwards
Stax Edwards's picture

Are you for or against QE?  Sarcasm maybe?

Tue, 08/09/2011 - 15:03 | 1543444 John McCloy
John McCloy's picture

I am against QE and stealing from savers to reward the criminals who placed us here. Sadly the Fed for decades now has placed us upon the event horizon we are witnessing where gold and oil are telling us QE cannot continue and QE1 & 2 tell us they have been a failure as evidenced by unemployment but much like 90% were against TARP it must continue.

  Wether through Tyler hypothesis of Operation Twist #2 or flat out statement of QE 3 coming. Ben has tried to stabilize markets by scaring shorts, trying to outlaw them though they serve a great purpose for price discovery via risk on the opposite end and wants everyone to walk along whistling believing the Fed can backstop all. It is not a liquidity question but a moral question of protecting those who parasite off of producers and cloaking them with immunity for their misjudgments. That is why the Bernanke Put is a sham.

Tue, 08/09/2011 - 15:16 | 1543480 Shameful
Shameful's picture

This is all going according to plan.  The printer does just fine in history, and they get to feather their nest.  Indeed if we are entering a brave new world I expect Zimbabwe Ben will be heralded as a great hero that sheltered the oligarchy from risk and harm in this volatility so they could rise to their full power over the cattle.

Besides do you honestly believe for a minute that the Fed will catch teh blame from the MSM?  No, a scapegoat will be found.  Iran, China, Russia, Tea Party Terrorists, all will be heralded as enemies not our ever loving Federal Reserve.  Just because you have an idea what is going on does not mean the masses do.  I can assure you they know the cast of Jersey Shore far better then central bankers.

Tue, 08/09/2011 - 19:13 | 1544494 Zero Govt
Zero Govt's picture

John, "..and they still cannot address the core issue.."

Hit the nail on the head right there

The Feds QE was never anything about the real was always about Pretend & Extend, bailouts for Big Banks and Big Govt, the bankrupts

Tue, 08/09/2011 - 14:51 | 1543392 heatbarrier
heatbarrier's picture

Who ordered the smoothie with mix equal parts of gasoline and frozen orange juice concentrate?

:::: Here you are, Sir.

Tue, 08/09/2011 - 15:04 | 1543447 MsCreant
MsCreant's picture

Apparently this is a myth, you cannot make napalm this way.

Wed, 08/10/2011 - 00:19 | 1545210 StychoKiller
StychoKiller's picture

Yeah, styrene (or styrofoam!) dissovled in the gasoline makes it sticky!

Tue, 08/09/2011 - 14:54 | 1543398 karzai_luver
karzai_luver's picture

All well and good, wait until the next bank(s) fails and the bail out is needed.

Austerity for the serfs proclaims the LORDB.


You really think this will hold, bitch!


London calling.........

Tue, 08/09/2011 - 14:53 | 1543404 OliverTwist
OliverTwist's picture

What the f... is holding silver back ???

Tue, 08/09/2011 - 15:17 | 1543482 Smiddywesson
Smiddywesson's picture

My guess would be an all out effort by shorts that are nearing the edge of the cliff.  Silver should be following gold up, but it's not.  It's a small market, but not that small.  Doing this to silver has to put tremendous strain on the forces doing so.  I wonder what their uncle point is?

Tue, 08/09/2011 - 15:45 | 1543588 OliverTwist
OliverTwist's picture

There was a time I thought silver has 2 components: 1 it is a commodity and 2 it is sound money. Now I think there is a 3rd: it is one of the worlds most manipulated "thing". And right now this component is prevailing.

Tue, 08/09/2011 - 19:28 | 1544560 Conax
Conax's picture

Man, that's so true.

A beginner looks at the data, supply, technical uses, prices, history, buys a little silver.

Five years later he will be foaming at the mouth, raving, "but it IS worth something, it is, it is a useful metal in short supply! !  I'm not crazy, where'r my pants?"


Tue, 08/09/2011 - 15:14 | 1543474 Ned Zeppelin
Ned Zeppelin's picture

FOMC Statement: buzz killer.

Tue, 08/09/2011 - 16:57 | 1543940 El Viejo
El Viejo's picture

Evidently not

Tue, 08/09/2011 - 17:06 | 1543984 Grand Supercycle
Grand Supercycle's picture

Equity counter trend short covering rally begins from very oversold levels.

Tue, 08/09/2011 - 19:21 | 1544538 Zero Govt
Zero Govt's picture

you posted this same chart yesterday and said it predicted the sell-off you post it again and say it predicts a counter-trend rally!!

why don't you mark it 'Head & Shoulders' and be done with it?

Wed, 09/14/2011 - 05:19 | 1667577 chinawholesaler
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