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Italy Bank Update As Dow Jones Wipes Out Entire Post-FOMC Surge
Below is a a chart of Italian bank equity performance. Countrywide bank run next?
Whether the reason for the sell off is due to a typoed GOFO 12M SocGen print or there is a fundamental reason, remains to be seen, but US equities are not taking the risk. US stocks have wiped out all of yesterday's last minute gains.
DJIA:
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some history
after the crash
http://www.youtube.com/watch?v=XFn1G2goDQw
or is this before
http://www.youtube.com/watch?v=2MyToTwag34
i smell blood.
I smell fear.
Charlie Bravo
Can you hear that sound??? BAAHHHH!! BAHHHHH!!
The sheep go off the cliff!!
Remember to have a bit of cash at hand, in the event the banks "take a holiday".
We have yet to see some social unrest in the USA.
You must not live in Wisconsin or Philly.
"I can't hold her much longer captain - jump! jump!"
lulz
It's worth considering Gold stocks at these oversold levels. Compared with the price of Gold they are the cheapest they've been in over 2 years!
They are also holding up well while the rest of the market gets sold off.
http://www.bullionbaron.com/2011/08/gold-stocks-cheapest-since-early-200...
Yesterday afternoon's blast higher almost seemed to be a coordinated event. But the market was extremely over sold so, a retracement was long over due but that was just plain silly. Look out below!!!
What were they thinking... Oh they weren't it was robots.
http://www.travelsnitch.org/wp-content/uploads/2011/01/TS_brace_position_7.jpg
bring Kievel back maybe that helps. could be, that in the new normal that actually is considered good news
Cash is good - but learning to barter is better. And bartering has the additional advantage of being a tax-invisible transaction.
I think that's where we're headed.
Serious question: How do we learn or get involved in bartering?
The next time you want something, find it on eBay/talk to the producer. It really has to be the person that owns the item (unless you want them to steal it - and that's bad karma). Tell them that you want it and ask whether they'll take something other than money in return.
Most of the time they'll laugh.
It's handy if you've got something lined up that you think they might want or could trade for more than they could get for their sack of carrots/BD player/. If you don't, they'll laugh at you even more.
Per Benicide, Gold is not money. I guess I could request Gold instead of FRNs for things I sell.
BAC only down 10%. That's a good day for them, right?
You owe me a new monitor.
Third time today some comment on ZH today has made me gag on my coffee and spray it on the computer.
Still, DJI is 129 points above the 11000 mark, and I think that will be erased as soon as europe goes home!
I see 134 below 11,000. Err 161 in the time it took to write this.
Must be a typo. It MUST.
Gold just punched a brand new high 1779.65! amazing. Of course Crammer says he won't get into this market unti lthere is $200 or $300 pull back in Gold. I have a feelign he may be out for a while!
Is on the take from JNJ I never listen to him, but just the few spots I've seen him he's shilling JNJ. And his wonderful advice for high yielders...pfft, you'll lose less. Wtf?
Completely O/T but N Korea is feeling a little lonely today, and is reaching out for some attention:
N Korea shell S Korea
Interestingly enough, weve been hearing this french downgrade rumor from the exact same source we heard it yesterday bright and early am. Lots more people seem to be buying it this 2x time round (XAG at highs...)
Easy come... easy go. So much for central planning.
Is this coming to America?
http://www.dailymail.co.uk/news/article-2024203/UK-RIOTS-2011-Manchester...
PARTY LIKE IT'S 1775!!
This volatility is too extreme fo rme. I'm out and in waiting mode!
"Countrywide bank run next?"...thought they just handed all that to Fannie/Freddie?
I can't comment on Wisconsinbut there is no social unrest in Philly at all. Just the usual crime that is being broadcast louder when in fact it is really down for the most part. Murders at least.
Dow 10000 hat please.
red, green, red, green...looks like wall street is catching a case of traffic light syndrome again...so how many jobs is it going to cost this time, another 8 mill? 12? 20? maybe this is the point where things get as bad as obama said they could have been but weren't a year and a half ago...
it i clear that nobody knows what is going on. the WOPR from Wargames is in control of the market. it is launching salvo after salvo and pretty soon the market is going to turn off and a big message:
THE ONLY SMART MOVE IS NOT TO PLAY
will flash across the NYSE.
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