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right on time.
On time for what? They could have announced this days ago or days from now, so why did they chose today afterhours. It may be random but I doubt it.
You know something; I doubt it too. A "little" paranoia is a good thing nowadays. I didn't consider it as spin until you mentioned it; it does make pretty good spin.
Maybe today's march upward was a forced liquidation (of a short position). The other, seemigly innocuous, oddity was that Central Fund of Canada marched up with the market instead of down with GLD/SLV. It was a large 3+% differential.
Who would voluntarily invest in these markets. Oh, that's right: anybody who has to somehow protect their falling cash positions. It is time for this turtle to come home.
Agree. Let me know when it does, thanks.
How is being down 12% blowing up?
Great post thomas. My thoughts exactly.
This is a very mysterious event. Usually these announcements are timed to royally fuck over some option position I have taken. Currently I have no option position so this doesn't make sense at all. There must be some other way this is going to screw me. There is no other explanation.
Thanks, best laugh I've had in a few days......
Check the closet and under the bed before you retire for the evening... ;-)
I have the same problem. They're trying to lure us back in, that's what it is.
You either left an open order or forgot about a position/ got a partial fill exit.
Thanx for that...at least we're going down laughing
Nothing just happens on WallStreet
Management LBO.... Why pay more?
you run for the doors when Reconnaissance Technologies starts to report a loss. That hedgefund is MASSIVELY leveraged, and has HFT bots embedded in every market.
They are LTCM^666
When they start to deleverage, the financial world blows up.
do you mean
I thought Reconnaissance sounded cooler.
it kinda does,
good night, west
Reconnaissance Technologies; eh? Thanks, I'll try to look that up. I just love LTCM; what a great name; they long term managed their clients money to what 8 cents on the dollar; something like that. Couple of professors with a big computer that didn't know shit about real markets. Hilarious.
The world's best oxymorons:
- Military intelligence
- Jumbo shrimp
- Paper gold
- Long term capital management
..uh, they were actual Nobel prize winners....and it was then that Lehman's fate was sealed...When Genius Failed...a good read.
"they were actual Nobel prize winners"
....like Obama, the prince of whirled peas?
"Eat your damn peas!"
Krugman is another one who "won" a Nobel. I never read the LTCM book but read some excerpts. One of the best bits was when the head of the fund John Meriwether (Ex Salomon and U of Chicago MBA) was panicking. He brought up some Italian guy with a high school education who dressed like a mobster but he knew trading. Meriwether is saying he could go to Buffett or Soros etc etc. The guy was street smart and told Meriwether that it was over. He had looked at the portofolio and told Meriwether that everyone else would pounce on them. The same pile on Lehman and Bear to kill them off.
Hilarious that a high school educated guy with street smarts knew 10X more than a bunch of Nobel prize winning PhDs. Supposedly they all became golf bugs in Greenwich and Myron Scholes was trying to work out the mechanics of the golf swing. The idiots used a small sample of data for their models with no tails/black swans. The house was on fire while they were out playing golf.
If madoff's perennial 12% returns were labeled extremely suspicious after the fact...why has nobody realized that Simon's private fund is some kind of massive fraud? All the MIT wizards work in the public fund--the closed fund is just Simons and his relatives/buddies at work--my guess is that they use the open fund to boost positions already held in the private fund--then the private fund immediately exits. Can't wait until somebody blows the lid off renaissance...
I gotta figure that most ZH readers are already ducking and covering. But, thank you for letting us know!
By now most ZHers are working feverishly to secure the steel plate to cover up their anal opening.
Made me laugh, big time.I guess I'm a good exemple of this as I am a chronic procrastinator and always wait for overconfirmation before heading one way or another.I exiled myself from the system pretty penniless in 2010 (didn't think it through, no PMs at all) and have been saving while travelling SA and working in bars, hostels, teaching english and what have you. Still saved enough to buy 12oz Ag in the last year and just made my first buy of Au monday, a very modest 1/4oz. Price still seems good, don't care if it dips further considering the fundamentals, at least I got rid of those darned FRNs and now have some 24k sheet Au to cover my ass with.
and so the second dip begins.
and it's gone......
The new deeper and wider crater is just ahead!
This time with even more thieve-o-matic enhanced systemic FAIL!
It's amazing what 30x leverage will do for you. LMAO
And since Europeans banks are at 70X+ ratio, shall be even more amazing.
I think "Abyss" is the word you're looking for...
BUT BUT BUT...you just said that meant 200 S&P points up before 400 down?!?!?!
Who cares about S&P? NOBODY. Just PLEASE tell me that the Goldman bonuses won't be hurt!!
Not to worry. The last time it looked like the bonus pool might be small and their last, they took really, really big ones. Looting the accounts is a predictable response for all banana republic dictators.
Couldnt happen to a nicer group! FU Goldman.
The world is a vampire................
Aaaah shit....2007??? We gotta wait another whole year for the 2008 echo?
History doesn't repeat, it only rhymes.
Thought I read Reggie Middleton saying something to the effect that they cannot trade. Shame, they're such a bastion of market health and happienss.
Oh, and fuck you Lloyd.
Hey how do you add your twitter name on this so we can all chat during the day? I see a thing for it... Im "FightGandhi"
Anyone here have the balls to short GS on this news? .....I thought not.
No. I have not the balls to trade anything in this market and am standing pat in GLD, SLV and cash, along with mostly diversified real unleveraged unencumbered physical assets.
Being a eunuck has it's advantages.
Long or short this mkt and you're bound to get kicked in the nuts.
Fuck no; I think the anouncement is spin to suck some more retail shorts in.
There's no measureble retail in this mkt.
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