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Guess there wasn't enough sleeping at Holiday Inn Expresses last night.
LOVE that pic -- "Que the deer"
I wonder if that fu*k stick Cramer was still smugly saying a drop in da mockit is no big deal -- like he said this AM. Idiot!
Cramer is the market's Court Jester.
Every empire needs a Fool in the throneroom, and JC fits that bill admirably.
Cramer is amusing, and if you ignore the stockpicking you can even learn something once in a while, but above all others his best feature is as a market bottom indicator. He is so bullish he preaches buy the dip all the way down, but when he throws in the towel and starts talking like it's the end of the world then you know it's time to buy equities big time because the bottom is in. If you had done that during the last crash you could have ridden a 7000 point gain on the way up.
without picking stocks that is just a double... silver did way better
All is well- buy the dip
It will go to the moon once the Bernyanker starts printing again
How much will the Bernank let the markets drop before he "steps in" ....
BTFD...tomorrow. QEinfinity on the way.
Bernanke: "I didn't know bubbles pop! That's not in our equations of 'rational expectations'"!!! Hang on there....this is not fair!!!!!!
People dimiss religion, i.e., belief in God and the need to value others as oneself, as false and deluded. Yet somehow neoclassical economics and the false religion of greed is considered a "science"?
Seriously....what a crock of sh&t....and now we're up a river of it without a paddle. Popular faith in money and Mammon is about to come to a catastrophic End. You can thank human AUTHORities for failing to heed God...
This is all just another step in the new peak oil boom-bust cycle.
Did we miss anything?
Did we miss anything?
I am thinking, "Nope."
You all can buy TFD with your own money. I say if ever there was a time to pile all in on PM's (or even toilet paper, coffee, smokes) this is it. This is what we have been waiting for boys and girls. Everything, and I do mean everything sold off today except long bonds, and the fact that all action went into them is sign of sheer desperation on the part of those with anything left to move. Even that will prove temporary.
We all know the Fed and Treasury will do anything at this point to staunch the hemorrhaging, they will out and out plow US dollars into the stock market in spite of the obvious illegality of that move, but euro is toast, everyone knows it, The BOJ went all in today to deflate the yen and it was for nothing, there was a global attack on the falling dollar, the world spent trillions today to keep the dollar strong and they lost. The yen was particularly poignant, they went from 76 point whatever to almost 80 in a day, and back up to 78.6 as I write. The euro is not even worth mentioning as few in the financial sphere even see it as actual money anymore. The powers that be in Europe are still trying to rescue a currency that is not even currency. Yes, they can weaken the exchange rate by issuing tons of it, but nobody really cares at this point and the 26 eurozone nations are feeling the destruction, except Germany which the euro is designed to make so much richer, 25 other nations suffering to support German mercantilism. Now the world is calling bullshit on the euro, and they are equally unconvinced of the BOJ action.
Get ready for real inflation/deflation kiddies, like you have never seen. Every central bank is going to issue so much "money" that they will spam your inbox trying to get you to take more of it. We are in the collapse we have waited for.
(edit) my bad, not all 26 EU member states are in the eurozone, GB for example, I got carried away with the depth of what happened today. But, it really was a watershed, the ECB had said just last night that the euro would be supported no matter what went on politically, yet by the end of the day they had done nothing because they have no legal ability to anything. It is so bad that Italy has withdrawn from bond auctions for at least the next month, if the ECB were willing and able to support Italy then Italy would sail through their bond selling just as the US sails through it's auctions thanks to the Fed. But they cancelled their borrowing saying they had more cash than they thought they did. Does this alone not raise red flags with all investors? How can Italy not know how much cash it has, or what access to debt markets it needs?
Look for tomorrow to be an up to neutral day on equity markets, neutral on bonds, up on commodities, in the EU and US anyway. The central banks are shitting themselves as I type and they will not allow a total meltdown. They will simply plow trillions into all markets to make for a neutralish day. If they do it early look for all indicies to be well higher as the markets will see that central banks will support them no matter what. This is the first real day of monetization on a grand scale.
You make some good points....but we're not yet at Ponzi Collapse. QE 3 will puff up US stocks for a few more months, plus flight from Euro into US TBs, tho there will be some "bad" days before it all gets done. Monday, 8/8 should be a fast down elevator...but the cable won't break. Yet. I hope...
my sentiments...well put, boiltherich.
it's here, riding a pale horse, and, behold, look what trails behind!
picking apples for the kings and queens of things i've never seen,
mmmm, electronic surgical words. . .
I see you like my screen name ... but seriously, how much pain will Bernanke permit before he steps in ....
According to NIA "This stock market correction will not turn into a crash like in late-2008/early-2009. Back then we had a liquidity crisis, but with interest rates today near zero and having been there for over two years, the world is now flooded with excess liquidity of U.S. dollars. Stocks became overvalued in recent months with the Dow Jones/Gold ratio reaching a high on May 5th of 8.36 and were overdue for a large correction. If the stock market continues to fall, we will soon hear from the Federal Reserve who will either unleash QE3 in disguise or act to push the $1.6 trillion in excess reserves of banks into the economy. By the end of 2011, we expect gold and silver stocks to decouple from the rest of the market and for many of them to reach new highs."
Gotta hope for the ......
not as good as yours truly of course. which of course is why you come here! having said that his gold call is "most expert" and should be commended. the silver surfer has struck and now "civilizations must die." again: "all eyes on the credit and by extension debt markets." and of course you haven't heard the last from oil.
A drop in the market is no big deal. It's a g-g-g-great time to buy!
It's 'Cue', dammit!
Put the Deer in Queue
That pic is my all time favorite - so appropriate, fits the situation perfectly.
/ \ / \
\_ \ / __/
_\ \ / /__
\___ \____/ __/
| @ @ \_
/o) (o/\ \_
“To look like a deer in the headlights” is an American expression meaning “to look stunned and at a loss for words when asked an unexpected question or made the center of attention” (“When I ask the tellers about Y2K, I get … deer-in-the-headlights stares…,’” Chicago Sun-Times, 1999). The phrase refers to the behavior of deer caught in the beams of car headlights at night, when they frequently simply freeze for several seconds rather than running safely out of the car’s path. Living in rural Ohio, I can attest to the alarming stupidity of deer in such situations. On the other hand, deer can’t hold a candle to possums, who apparently believe they’re immortal and run right at your car.
I think that deer should be ZH's official mascot. I love the pic too, which it was just slightly 'shopped to make the deer more visible. And maybe make the head resemble BB's a little.
Oh, and in mascot symbology... ZH is the headlights.
OK, apologies to Fidel and, yes, I'm just hitting your post to get close to ThreadTop to cut thru all the "witty" comments and ask two important questions:
1. Did anyone else notice the decline was not so much of a crash ... waterfall-type decline, but more of a "dance" downwards? With apologies to the erstwhile Chuck Prince, this all looked pretty much under control and more like a prelude to QE3 to me. They're still dancing. So ...
2. What the fuck do we do tomorrow?! I've been layering on shorts for months now, and so made some serious dough today ... well, really just recovered a lot of my losses, but I have to feel that once stox have declined sufficiently to pull the Humpty Dollar back from the edge a bit, and enough to justify the (inevitable) QE3, a monstrous equity rally will ensue. So the question is: is there more decline in store, or should shorts be covered ASAP?
I'm inclined to give it a few more days myself and ride out any snap-back rally ... 'til Jackson Hole, perhaps?
QE is a drug...the more Ben uses it, the more he has to use it. QE 3 won't lead to a "monster rally"; it'll just hold the line for a few months, then KYAGB.
Yeah. Pharmacalogical Tolerance = Economic Diminishing Returns.
I'll prolly just ride it out ... been doing that for months anyway and the commissions just feed the sharks.
Looking at the Asian mkts this morning seems like Da Boyz will really have their work cut out for them today, but the Dow futs are only minus 10! Whatta crock! We'll see.
Thanks for the feedback.
That Doe is going to see a lot of action over the coming months. Transplant her to DC where she can frolic with a multitude of whores.
Stocks are down, PMs are down, USD and EUR are down, oil is down.... where did the money go? Is this debt deflation? Get your QE ready folks.... I'll leave the speculation about how this all came to pass to the more imaginative theoretical commenters ;)
"... where did the money go? ..."
negatory yield on USTz--3 mo. and others piling on.
The money went to money heaven...
USDX is not down- it's up fairly sharply for the day. That's not to say that it's situation has improved, just that people pulled out and converted to USD for now. Getting liquid as a safety net until they decide where to put it- my vote is for Au and Ag to take off, but you never know what this idiotic situation is going to do next.
It's the chicken that's gonna get it .
Tapper, pardon the junk. Not intentional and my sincere apologies. Was trying out the new format and.... Feel fee to junk back.
No need. Everywhere I look all I see is junk. Maybe I'd be happier if I just concentrated on tugging on my own junk.
But one gets so tired digging holes and filling them with physical that one just doesn't have the energy at the end of the day.
Hell of a gooberment, blind on a ride.
Thanks, Mr. President
For all the things you’ve done
The battles that you’ve won
The way you deal with U.S. Steel
And our problems by the ton
We thank you so much
What the fuck has happened. I was camping for many days, enjoying myself, and I left all you ZH traders to hold down the the fort.
Everytime I check I find the story is worse than the last. My mother inlaw came on one trip and says," where else you gonna live", complaining about my negative attitude.
Well, guess what? We reap what we sow, and dog turds would be the better part of it.
My personal dog turd collection is growing and is getting ripe.
The greatest birthday present for our incompetent, teleprompter in chief, big vote of no confidence, for well, just about everything.
Hpy BD Big O
I guess Obama's responsible for the European banking crisis too and the implosion of the housing bubble in 2007. Stop it already...
... let's see ... what's one of the tenents of social juice to which Doebama subscribes to? Oh yeah, everyone has a right to a house!!!!
There's your f housing bubble, stimpy.
And European crisis you say? .. well it stems from nany states going broke, and again where does Doebama and his progressive kin stand on that? Ohhh yeah, again free hip replacements for everyone!!!
There's your f European banking crisis (cuz they hold all the nanny states debt, duh), stimpy you blithering eeeeeeeeeeediot.
why dont you go suck some kenyan cock fag?
ur probably one of those people i laugh at who driv around with a obama 2012 sticker in their window
I tell you, I really admire the carefully argued and reasoned opinions of some of the commentators here--not to mention their spelling.
So many new names here tonight. Either it is the network news coverage or a .gov ploy. Either way, beware of the pro banker bullshit!
Behold! To be honest and direct is not safe.
fuck you too
Well, this is Fight Club...itz hard to spell when your nose is broke and your teeth being knocked out. Read the book...Soon to be a Major Motion Picture.
Hey kaa , simple question for ya ... name something positive Oblahma has done for this country (something that will not also worsen our fiscal condition at the same time).
kaa = idiot
no explanation necessary, i am tired of reiterating the obvious
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