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Market Collapses

Tyler Durden's picture




 

Update: Just out from Reuters which could be causing the plunge: No Plans for Financial Assistance for Italy From EFSF

The ES just fell off a cliff. For now there is no news: some speculation attributes the move to news that the supercommittee has been a catastrophic failure and no decision will be reached, but we knew that. Another reason is attributed to Fed member Sandra Pianalto stating that Europe is heading for a recession but that is not news either. Most likely just a case of HFT stop as technicals get hit as the EURUSD slides and selling begets selling. Yes, it is a "broken market" for a reason. Watch for the blame HFT crowd to come out in force in a few minutes on the financial comedy basic cable stations.

 

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Thu, 11/17/2011 - 13:44 | 1887572 RobotTrader
RobotTrader's picture

Complete crash in interest rates.

10-yr. back down to 1.97%

Free money for everyone!

Thu, 11/17/2011 - 13:46 | 1887602 JenkinsLane
JenkinsLane's picture

You are a fuckwit.

Thu, 11/17/2011 - 13:55 | 1887680 Ahmeexnal
Ahmeexnal's picture

German nuclear powerplant meltdown can no longer be kept under the rug.
Expect Merkel to resign and millions of eurosheeple to find out they have been poisoned.
Nuclear black plague!

Thu, 11/17/2011 - 13:58 | 1887696 aleph0
aleph0's picture

Link ?
Knew about the iodine .. but so far nobody's owned up !

Thu, 11/17/2011 - 14:04 | 1887729 BaBaBouy
BaBaBouy's picture

Start The EU Potato(e) Lines ...

Thu, 11/17/2011 - 14:11 | 1887774 BaBaBouy
BaBaBouy's picture

Free Money Is Coming...

 

Count on it.

 

It's that, or worldwide callamity.

Thu, 11/17/2011 - 14:21 | 1887818 TeamDepends
TeamDepends's picture

NEWSFLASH:  Presidential "hopeful" Herman Cain just asked a roomful of latinos "How do you say 'delicious' in cuban"?  Our question to Cain is how do you say 9-9-9 in zimbabwean?

Thu, 11/17/2011 - 15:06 | 1888043 12ToothAssassin
12ToothAssassin's picture

Sabroso

Thu, 11/17/2011 - 14:58 | 1888001 common_sense
common_sense's picture

FOR PEOPLE LINVING IN THE ESCLAVAGE, NOTHING TO LOSE...SO...WORLDWIDE CALLAMITY WELCOME, EVERYBODY SIMILAR. BUT NOW...HOHOHO...ONLY FEW PEOPLE ARE LIVING LIKE FUCKING KINGS AND THE REST AS ESCLAVES...

 

INSERT COIN BITCHEZ !!!  INSERT COIN, DONT STOP.... AND TAKE IT TO TAX HAVEN COUNTRIES, VIRGIN ISLANDS, CAYMAN, SWITZERLAND....FUCKING VIP!!!

Thu, 11/17/2011 - 15:15 | 1888088 SheepDog-One
SheepDog-One's picture

Theyve already flooded the earth with as much free money as anyone could ever print, and yet we're still collapsed. So now what?

Thu, 11/17/2011 - 15:39 | 1888269 Liquid Courage
Liquid Courage's picture

A little metaphor may be instructive: What happens when the ground [banking system] becomes saturated, and too much water [liquidity] pools up on the surface? Catastrophic collapse by LIQUEFACTION, which is what I visualize when I recall the (semi)famous quote from the '29 Crash: "They held their ground 'til the ground itself gave way beneath them."

Thu, 11/17/2011 - 16:51 | 1888871 tmosley
tmosley's picture

Who says we can't have both.

Thu, 11/17/2011 - 14:14 | 1887787 NewThor
NewThor's picture

Doesn't seem like the News supports the crash.

Me thinks that BIG BAD news is coming within the next 36 hours,

and the insiders have that info.

The public doesn't.

YET.

Thu, 11/17/2011 - 14:48 | 1887939 TeamDepends
TeamDepends's picture

Black Friday?  Commence happy hour in 3 2 1....

Thu, 11/17/2011 - 15:00 | 1888023 common_sense
common_sense's picture

INSERT COIN BITCHEZ, INSERT COIN...!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!11

Thu, 11/17/2011 - 18:10 | 1889299 LongBalls
LongBalls's picture

Potato lines in Europe equals soup lines in America. This problem is not isolated despite what equities are saying via the DOW. This sum-bish is going to hurt everyone.

Thu, 11/17/2011 - 14:16 | 1887757 Ahmeexnal
Ahmeexnal's picture

First they attempted to fool the sheeple into believing radioactivity rise was due to fecal matter:

 

Professor Malcolm Sperrin, director of medical physics at Britain’s Royal Berkshire Hospital, said any link with Fukushima was extremely unlikely.

“It is far more likely that the iodine may be as a result of excretion by patients undergoing medical treatment. Whilst such patients are carefully controlled, some release of iodine into the environment may be inevitable but would certainly be well below any limits where health detriment would even begin to be an issue for concern,” he said.

 

IAEA has now posted a coverup story:

http://www.iaea.org/newscenter/pressreleases/2011/prn201127.html

They are now trying to fool the sheeple into believing it was a discharge from a medical plant in Hungary.

It's all extend and pretend, kick the can until the can explodes in your face!

But the clear sign that this is a major event, even WORSE THAN CHERNOBYL is the fact that the Maginot Line has been breached and FRANCE HAS DETECTED INCREASED RADIATION too:

http://www.prisonplanet.com/radiation-spreads-to-france.html

This is just another nail in the coffin for the eurosheeple.

The continent is already poisoned:

http://www.guardian.co.uk/environment/2008/feb/23/pollution.water

 

 

Thu, 11/17/2011 - 14:24 | 1887822 gojam
gojam's picture

I'm not sure that it could be covered up in Germany. The Greens are in Government and you're talking about a country where every school will have a Geiger counter.

Your Guardian story is from Feb 2008 your IAEA stor is from Sept to now this year.

It's a very big leap you're making.

Thu, 11/17/2011 - 14:43 | 1887881 Ahmeexnal
Ahmeexnal's picture

German companies poison the world with their nuclear powerplants. The Greens? You place your hopes on them?

http://blogs.wsj.com/source/2011/11/14/germanys-nuclear-exit-sparks-desp...

IAEA press release is from today (nov. 17). Guardian story is from 2008, but was included to point out the fact that nuclear disasters in Europe are swept under a rug.This time would be no different. 

If IAEA "official version" were true, Budapest would be glowing in the dark. Do you trust your elected/unelected officials?

Thu, 11/17/2011 - 14:27 | 1887846 the tower
the tower's picture

Awww Ahmeexnal... you really can't wait to see Europe fall... grabbing on to every glimmer of hope... 

 

It's not gonna happen babe... 

 

Now get a life.

Thu, 11/17/2011 - 14:47 | 1887898 Ahmeexnal
Ahmeexnal's picture

Euro collapse is nothing new. You must either be a teenager or a brainwashed sheep who believes "all is fine" and whose knowledge of history is limited to last week's VH1 top 10.

Collapse will come again. 

 

THE SORROW AND THE PITY, a 1969 documentary by french film maker Marcel Ophuls shows truths about collapse that many want to keep  well hidden under the rug.

 

Thu, 11/17/2011 - 14:59 | 1888010 Hugh_Jorgan
Hugh_Jorgan's picture

Economic collapse is always unlikely, until it happens.

Thu, 11/17/2011 - 15:17 | 1888103 SheepDog-One
SheepDog-One's picture

All was well in 2008 too...'contained to sub-prime...nothing to see here'....uh huh.

Thu, 11/17/2011 - 16:16 | 1888553 common_sense
common_sense's picture

REAL COLLAPSE OR FED PLAYING WITH DERIVATIVES  ????

Thu, 11/17/2011 - 14:59 | 1887964 Ahmeexnal
Ahmeexnal's picture

Nuclear meltdown in San Fernando valley.  That would explain why the pr0n industry took over the place.

Thu, 11/17/2011 - 14:11 | 1887775 Taint Boil
Taint Boil's picture

A different kind of "Deer in the Headlights"

Thu, 11/17/2011 - 14:17 | 1887797 NotApplicable
NotApplicable's picture

Here's the latest.

http://www.reuters.com/article/2011/11/11/us-nuclear-iodine-iaea-idUSTRE...

I just love how they categorically deny it was from Fukushima, "because that was so many months ago." Never mind there is ongoing spontaneous criticality going on STILL. Better yet, at the end of the article they admit that Fuku iodine was detected in Europe after the initial explosions.

Radioactive iodine may only have a half-life of 8 days, but that still gives it about a month before it becomes undetectable. So, if it's shown up once, it is possible that it's still arriving. Especially if they've vented their new tents up the stacks, placing the contamination higher up in the air.

I do not claim to be an expert however, this is just mere logical speculation.

Thu, 11/17/2011 - 13:57 | 1887688 redpill
redpill's picture

I wonder how former Robo-darling Travel Zoo is doing these days?

Thu, 11/17/2011 - 14:01 | 1887704 The Big Ching-aso
The Big Ching-aso's picture

 

 

Correction:   Fuckwad

Fuckwits are funny when fucking.

 

Thu, 11/17/2011 - 14:08 | 1887743 Deadpool
Deadpool's picture

Like John Cleese in "Meaning of Life". funny stuff.

Humphrey: So, just listen. Now, did I or did I not... do... vaginal... juices?
Pupils: Mmm. Mmm. Yes, sir. Yes, sir.
Humphrey: Name two ways of getting them flowing, Watson.
Watson: R - rubbing the clitoris, sir?
Humphrey: What's wrong with a kiss, boy? Hmm? Why not start her off with a nice kiss? You don't have to go leaping straight for the clitoris like a bull at a gate. Give her a kiss, boy.
Wymer: Suck the nipple, sir?
Humphrey: Good. Good. Well done, Wymer.
Pupil: Uh, stroking the thighs, sir.
Humphrey: Yes. Yes, I suppose so. Hmm?
Pupil: Oh, sir. Biting the neck.
Humphrey: Yes. Good. Nibbling the earlobe, uhh, kneading the buttocks, and so on and so forth. So, we have all these possibilities before we stampede towards the clitoris, Watson.
Watson: Yes, sir. Sorry, sir.

Thu, 11/17/2011 - 14:02 | 1887718 knukles
knukles's picture

Fuckstick.  Fuckwit's twin.

Say, betcha next thing to be done is that Uncle Warren, in exchange for supporting the S&P so nicely (An alturistic man if you buy that crap from CNBS, etc.  Who by the way, whilst preaching about free markets, capitalism, hard work, everybody having a shot at being president which has been shown to be true of late, has never ever not bought anything that did not have a great deal of regulatory oversight upon which he could exert influence, aka regulatory capture, to make his deal work, being politically plugged in.)

But back to where we were before I so rudely interrupted myself, so he helps pump the S&P and since it's now having trouble, betcha the next big move is a thank you from DC in the from of a $100,000,00 grant to establish and fund the Jerry Sandusky's Little Boy's Buttball Leagues as an educational tool to get the tots ready for the real world screwing.

(strains of America the Beautiful)

Thu, 11/17/2011 - 15:02 | 1888029 Hugh_Jorgan
Hugh_Jorgan's picture

I prefer "Shitdick"

(I'm not prone to swearing but in this case I thought I'd off up unused fodder for those who partake freely in the practice."

Thu, 11/17/2011 - 18:45 | 1889418 GenX Investor
GenX Investor's picture

TD - Are we sure it's not the 20 year old math PhD's who love charts and determine the future direction of the market?  They must have run out of LONG /es history to keep the market going up?

Thu, 11/17/2011 - 13:47 | 1887607 GeneMarchbanks
GeneMarchbanks's picture

If by 'money' you mean debt.

Thu, 11/17/2011 - 13:51 | 1887648 gojam
gojam's picture

If by "debt" you mean hedged leverage.

Thu, 11/17/2011 - 13:53 | 1887659 Careless Whisper
Careless Whisper's picture

Robo u loved ANF a month ago. Good time to average down?

http://www.tshirtoftheday.co.uk/wp-content/uploads/2009/10/Applecrumblef...

 

Thu, 11/17/2011 - 13:54 | 1887670 gojam
gojam's picture

If by "hedged leverage" I mean free money.

The circle is completed.............and that's the way the corrupt system works.

Thu, 11/17/2011 - 14:21 | 1887816 bank guy in Brussels
bank guy in Brussels's picture

Funny to consider the pricing of Karl Denninger's 'Leverage' book you are recommending there ...

As per your link there on Amazon, hardcover list price US $34.95 (ha!), Amazon selling at 42% off for $20.21 ... other outlets selling it for as low as $17.50 brand new ...

And this is just the first week the book is officially published ... used copies soon perhaps for a buck or two.

Nothing in particular re Denninger, but overall I am not sure we are really in the 'book' era anymore, tho for a guy of Denninger's age it may still seem a big thing to 'publish a book'.

But really today, info on the web is more 'primary' as exemplified by ZeroHedge. Karl Denninger will be more famous (or less) for what's on his website (where Denninger often repeats ZH article topics with no hat tip, instead he quotes the sources cited by ZH, with Denninger sort of pretending like that's where he news - hounded it, ha!)

Books have some use, and indeed I own a few, but I think the kind of books one would buy, own and keep, are much more limited than before. Books on financial topics that get out of date, are not so much in that category.

Thu, 11/17/2011 - 13:50 | 1887643 homersimpson
homersimpson's picture

I'll stick with FAZ..

Thu, 11/17/2011 - 13:58 | 1887692 tekhneek
tekhneek's picture

Right there with you homer...

Thu, 11/17/2011 - 14:27 | 1887841 Tsunami Wave
Tsunami Wave's picture

I gotta give it to you Homer.. you've been bullish with FAZ for a while and it's still going up. Plus you're not being all HoboTrader about it.. Good work.

Thu, 11/17/2011 - 14:30 | 1887856 AbelCatalyst
AbelCatalyst's picture

and YANG...  China could land harder than FAZ - further to fall...

Thu, 11/17/2011 - 14:49 | 1887949 El Viejo
El Viejo's picture

Yeah, and it will negatively affect Aussie mining dramatically too.

Thu, 11/17/2011 - 14:34 | 1887865 El Viejo
El Viejo's picture

Got me some too. A little early, but I'm back even now.

I'm up with VXX and almost even with SDOW.

Thu, 11/17/2011 - 14:46 | 1887921 Ragnar24
Ragnar24's picture

And I have puts on UYG... problem is that I've had them for a few weeks! I overestimated the speed at which equities' would be able to recognize risk.... I didn't think it would take a statement by Fitch for them to come to their senses.

Thu, 11/17/2011 - 14:52 | 1887970 El Viejo
El Viejo's picture

The bigger the effect and the more/bigger that bet against it the longer the delay. I admire your patience.

Thu, 11/17/2011 - 14:58 | 1888000 Ragnar24
Ragnar24's picture

Patience is the polite term... "stubborn" is probably more accurate since I've spent these weeks screaming at my screen. Thanks though!

Thu, 11/17/2011 - 13:52 | 1887652 The Deleuzian
The Deleuzian's picture

Gold or the 10-year...Gold or the 10-year...The scales are wobbling...Buy gold have no fear...Better yet, buy silver!

Thu, 11/17/2011 - 14:24 | 1887829 DaBernank
DaBernank's picture

Silver's on sale. Tracking the drop in SPY. Correlation, anyone?

Thu, 11/17/2011 - 14:54 | 1887985 toothpicker
toothpicker's picture

But I CAN'T EAT IT! All investments MUST per definition be edible. 

Thu, 11/17/2011 - 14:07 | 1887675 The Big Ching-aso
The Big Ching-aso's picture

 

 

Cyber-bullshit is the same as human bullshit.

Some humans are starting to figure this out.

Thu, 11/17/2011 - 13:59 | 1887708 AmazingLarry
AmazingLarry's picture

Nice call on DOW 15,000. uyor dlisexic 

Thu, 11/17/2011 - 21:39 | 1889919 Buck Johnson
Buck Johnson's picture

I've said it before, the EU doesn't have that money to fund all these money pits.  Even if Germany wanted to, they would still be funding them year in and year out because if they can't afford debt how is it more debt will be affordable to them?

Thu, 11/17/2011 - 13:44 | 1887573 YesWeKahn
YesWeKahn's picture

When the stupidity reaches all time high, things collapse, nothing surprising.

Thu, 11/17/2011 - 13:49 | 1887628 Tortfeasor
Tortfeasor's picture

Twitter did it

Thu, 11/17/2011 - 13:58 | 1887699 tekhneek
tekhneek's picture

Twitter and cocaine did it*

Thu, 11/17/2011 - 14:05 | 1887739 redpill
redpill's picture

And when they run out of coke it redirects to Tweeker.com

Thu, 11/17/2011 - 14:09 | 1887765 centerline
centerline's picture

Yikes. I typed that in for the fun of it. Should have known better. Almost lit up the IT department like a roman candle with that one!

Thu, 11/17/2011 - 14:11 | 1887771 redpill
redpill's picture

lol shit, I made it up, I should have known it was a real site, sorry

 

Thu, 11/17/2011 - 14:33 | 1887868 centerline
centerline's picture

It was pretty funny.  I knew better though.  Pretty much a 90% or better chance it was going to come up something like that.  I think I am more sad now that I couldn't open the site's homepage.  Curiosity is killing me now!

Thu, 11/17/2011 - 17:33 | 1889154 Sedaeng
Sedaeng's picture

http://www.redreign.us/tweeker.jpg

screenshot of homepage to tweeker.com

curiosity satiated?

Thu, 11/17/2011 - 14:00 | 1887712 Stoploss
Stoploss's picture

Don't forget Hungary was just slapped across the face with reality. Up 4% on bailout rumor today. Down 4% tomorrow on reality, no bailout. Come on with the JNK rating already..

Thu, 11/17/2011 - 13:44 | 1887574 Biggvs
Biggvs's picture

ES trading range has been narrowing for a few weeks now. Looks like we have our first big breakout. Timberrrrrr

Thu, 11/17/2011 - 13:48 | 1887619 Troll Magnet
Troll Magnet's picture

should i go long HP printers?

Thu, 11/17/2011 - 14:37 | 1887884 Roger Knights
Roger Knights's picture

Yeah, it formed a beautiful triangle, and now it's forming a beautiful breakout. Target is about Dow 10,800.

Thu, 11/17/2011 - 13:44 | 1887575 transaccountin
transaccountin's picture

owned

Thu, 11/17/2011 - 13:44 | 1887578 rumblefish
rumblefish's picture

sweet........lets keep heading south.

Thu, 11/17/2011 - 13:44 | 1887580 mynhair
mynhair's picture

Tick bounce imminent.

Thu, 11/17/2011 - 13:45 | 1887583 NewThor
NewThor's picture

The Super Committee is a super failure, BITCHEZ!

 

Thu, 11/17/2011 - 13:49 | 1887584 blu
blu's picture

Cue the deer.

Anybody else remember this:

http://www.youtube.com/watch?v=5gmpbsZ9H_w

May 6 2010

Thu, 11/17/2011 - 14:00 | 1887716 tekhneek
tekhneek's picture

http://i74.photobucket.com/albums/i249/clouda9/Food/deereatingpopcorn.gif

I like the popcorn eating deer better.

Tyler, let's try this guy out for a change once in awhile.

Thu, 11/17/2011 - 14:09 | 1887766 knukles
knukles's picture

Hey.....  You can't fool me.....
That's not a deer! 
That's one of Krugman's martians come to fund the next round of corporate welfare give aways.

Would somebody please pray for Krugman to become dumb (speech-wise, I mean.  He already's got the other aspect covered.) 'cause at least he'd be a hoot to watch waving his hands all over the fucking place on the telly.

Thu, 11/17/2011 - 14:35 | 1887878 Taint Boil
Taint Boil's picture

 

 

Deer In The Headlights …..

 

Urban Dictionary:


A mental state of high arousal caused by anxiety, fear, panic, surprise and/or confusion, or substance abuse. A person experiencing the "deer in headlights" syndrome often shows behavioral signs reminding those of a deer subjected to a car's headlights, such as widely opened eyes and a transient lack of motor reactions.

Mike doesn't like cars; he's like a deer in headlights when he goes to his driving lessons

 

 

Wiki Answer

 

When deer are in the dark say by the side of the road and a car's headlights shine on them, they are blinded momentarily and are susceptible to being shot. That why this method of deer hunting is against the law.

 

It is an expression that means that you are too stunned to move. In other words you are terrified. It comes from when you catch a deer in your headlights and they just freeze.

 

The Word Detective

 

We do know that “to look like a deer in the headlights” leaped into the public vernacular in a big way with the 1988 Presidential campaign of George H.W. Bush.  Bush’s running mate, Senator James Danforth (“Dan”) Quayle, was widely (and arguably unfairly) regarded as unprepared for the job of Vice President.  During a debate with Senator Lloyd Bentsen, Quayle defensively compared his level of experience to that of John F. Kennedy when he became President, to which Bentsen famously replied “Senator, I served with Jack Kennedy.  I knew Jack Kennedy.  Jack Kennedy was a friend of mine.  Senator, you’re no Jack Kennedy.”

 

Using English

 

When one is caught off guard and needs to make a decision, but can not react quickly enough.

 

 

Oxford

 

Used to refer to a state of fear, panic, or confusion so extreme that it is impossible to act or think normally: faced with too many choices and not enough real information, we are like deer caught in the headlights, his deer-in-the-headlights expression

 

Wiktionary

 

Deer in the headlights (uncountable)

 

(idiomatic) A mental state of high arousal caused by anxiety fear, panic, surprise and/or confusion, or substance abuse. The behavioral signs are like a deer subjected to a car's headlights, such as widely opened eyes and a lack of motor reactions.

 

 

 

Thu, 11/17/2011 - 14:26 | 1887838 economics1996
economics1996's picture

I like killing pigs for my dinner.

 

http://www.youtube.com/watch?v=EjYLRxHWKiQ

 

Good practive for the future.

Thu, 11/17/2011 - 14:05 | 1887741 Mutatto
Mutatto's picture

I've NEVER heard that....that's incredible.

A 10 handle spread.. LOL

I remember looking at my chart that afternoon, I said "whatever" and walked away.  I assumed it was a data error.

 

Thu, 11/17/2011 - 14:15 | 1887785 blu
blu's picture

This version of the soundtrack has a live graph.

http://www.youtube.com/watch?v=9OWFaGNN5hU&feature=related

Chilling.

Thu, 11/17/2011 - 13:45 | 1887587 CClarity
CClarity's picture

Punting everything they can to raise cash (or capital for banks).  Apple, Chevron, Gold, anything they can get off cuz stuck in mud with most.

Debt saturation and the algos will start to fail.  Can't hold up all the intertwined CDS and other "insurance" products that are so much bigger than the underlying securities that they are meant to insure.  What a mess!

Thu, 11/17/2011 - 13:55 | 1887674 Hmm...
Hmm...'s picture

It seems very plausible.

Of concern to me would be the fact that almost everything seems correlated these days.  for instance, Gold seems much more correlated with the stock market than it did earlier in the year.

the question: does this mean that people are selling anything they can (good assets like gold) in order to meet margins and requirements?  or does it mean that the hedgies and big financial players have speculated in gold more than some realized?

disclosure: I am not a gold hater, nor am I a gold disciple.  Gold makes up a sizeable portion of my assets right now, although some is in form of CEF, which I last bought A TON OF back around Labor Day, near its top, but I also have a lot of CEF that I bought years ago for around $7.65 if I remember correctly.

Thu, 11/17/2011 - 14:05 | 1887735 LynRobison
LynRobison's picture

Physical gold and silver will retain their value. Paper assets won't.

Thu, 11/17/2011 - 14:06 | 1887749 redpill
redpill's picture

No matter what happens, an ounce of gold will still be worth an ounce of gold.

Thu, 11/17/2011 - 14:20 | 1887811 Hmm...
Hmm...'s picture

obviously.  but that's circular logic.

one oz of gold will always = one oz of gold

and one dollar will always be worth one dollar.

But the purchasing power of one dollar is oscillating like crazy these days, and will eventually go near to (or perhaps) zero.  the timing of this of course is unfortunately unclear.  (will it be a month, a year, 50 years?  will the purchasing power of the dollar surge and then collapse???)

And likewise, the purchasing power of gold is also oscillating a lot these last few months.  The purchasing power will never go to zero, but it can fall a lot, or rise a lot. (there is no question that the purchasing power of gold has changed these last 3 years... even accounting for dollar destruction.  there is no question that the purchasing power of gold fell significantly after the gold bubble a generation ago).

I simply don't like the fact that gold's purchasing power is oscillating in a way that is positively correlated to the oscillation of the purchasing power of an index of stocks.  I felt more comfortable when gold's movements were not so lock step.  To me, it raises the possibility that the same actors who have propped up equities have their hands in Gold. 

It will not feel good to me if I can pay all of my living expenses on 1.5 oz of gold/month now, and if it costs me 3 oz gold/month next year.

Thu, 11/17/2011 - 16:05 | 1888462 letitgo
letitgo's picture

Nice work, hmmm, that's exactly what's worrying me about my PM holdings.  Everything these days is about preserving wealth in purchasing power terms -- it's the best we can hope for realistically.

Unfortunately, ZH no longer provides any balanced analysis to help with purchasing power preservation: it's all just selective articles supporting short positions on the EUR and stocks and long positions on PMs (probably bought through the site ads).  You need look no further than Tyler's ads today to see how biased it's got around here.  I would have thought a note that gold is down almost twice as much as the market would have been obligatory in a "market crashes" article but oh well -- and certainly no mention of the fact that the EURUSD is basically flat despite this.

Anyway, you're right: gold is now too closely correlated to the market to be a true safe haven these days and it's hard to find one.  A bit of discussion of this would be good, Tyler might yet surprise us with something not just informative, but also balanced and therefore more helpful.

Thu, 11/17/2011 - 13:45 | 1887588 bnbdnb
bnbdnb's picture

I was watching the EURUSD pair right as it struck. Looks like stop losses right at 1.3495. It tried 3-4 times today to break it and finally did at 13:29 EST. When that got hit, the bears took over 4-5 to 1.

Thu, 11/17/2011 - 13:45 | 1887590 RobotTrader
RobotTrader's picture

-1692 TICK, 3rd highest of the year.

TRIN went straight up to 3.0 in about 10 seconds.

Everything getting thrown out at once.

Thu, 11/17/2011 - 13:50 | 1887640 lieutenantjohnchard
lieutenantjohnchard's picture

must be a hard day being long in the old 600 square feet apartment overlooking a jammed los angeles freeway. or is in the corner office with your 3 monitor, state of the art work station where you process 1099's contract, part time? or is it the 24th floor of some high rise in los angeles overlooking the ows riots?

robottrader: so many stories, so many lies.

Thu, 11/17/2011 - 14:17 | 1887801 Eally Ucked
Eally Ucked's picture

It's obvious that the guy has big pleasure seeing you all  guys foaming at your mouths. It doesn't matter if market goes up or down he has allways few remarks ready for you and always gets proper (expected) response. Don't you see that yet? I think at some point of time when he used to post his real thoughts he got rejected and now just trying to get his revenge.  

Thu, 11/17/2011 - 14:24 | 1887823 lieutenantjohnchard
lieutenantjohnchard's picture

his real thoughts are cliche and exaggeration. virtually nothing he writes is original. it's yesterday's news. that said, the tard has a clear, documented record of failure in trading the market. that's why he resorts to saying absurd things like such and such will go up unless it goes down. and yet there are those who hang on his every word for market direction.

Thu, 11/17/2011 - 14:28 | 1887851 fuu
fuu's picture

He used to post regular content. I have been reading his 2009-early 2010 stuff this week. Marla and Tyler used to talk with him openly in the forums.

Then everything just stopped. I have not found what it was.

Thu, 11/17/2011 - 14:37 | 1887876 lieutenantjohnchard
lieutenantjohnchard's picture

tyler has openly mocked him in the recent past, listing his most egregious flip flops. btw, the 'tard does not trade. he owns a few widows and orphans stocks. that's it. his words. not mine.

i think when they realized he was a loose cannon they beat a hasty retreat. his lies and continued misrepresentations and exaggerations lead me to believe he's unstable.

Thu, 11/17/2011 - 14:50 | 1887955 fuu
fuu's picture

Makes sense. Although I suspect that he still posts as a Tyler, admittedly I am not positive about that at all. Some of the phrasing seems similar.

I just enjoy the mythos of the Hedge.

Thu, 11/17/2011 - 14:37 | 1887883 LFMayor
LFMayor's picture

photos of lewd acts must have surfaced

Thu, 11/17/2011 - 13:45 | 1887591 candyman
candyman's picture

Thanks Tyler

Thu, 11/17/2011 - 13:45 | 1887592 kito
kito's picture

1713!!!! 31.40!!!  WE ARE LOSING THEM DAMMIT!!!! MEDIVAC THEM TO THE STATE TRAUMA UNIT THAT HAS THE ONLY PRINTING PRESS WITHIN 200 MILES!!!!  HURRY!!!! FLATLINING!!!!!!!

Thu, 11/17/2011 - 13:50 | 1887641 Troll Magnet
Troll Magnet's picture

this is hardly surprising.  there will be more dips especially when big money starts liquidating their GLD positions to raise capital.  be patient.  the mass remains asleep.  no need to wake them up when we can keep stacking at discounted prices.

Thu, 11/17/2011 - 14:17 | 1887802 InconvenientCou...
InconvenientCounterParty's picture

The only numbers that are relevant:

silver/gasoline (USD)

silver/housing cost (USD)

silver/food (USD)

silver/health care (USD)

Feel free to plug in inflated or deflated context to this model. Today is a good day to trade nominally free debt money for metal while you still can.

 

Thu, 11/17/2011 - 14:32 | 1887861 Tsunami Wave
Tsunami Wave's picture

You do also know there are those expected 55,000 or so naked short orders that are about to expire unless some sort of manipulation takes place. 

Also you do know that we are entering the traditional dip period for most commodities (Beginning from December, ends sometime in late March or April). Right?

Thu, 11/17/2011 - 17:03 | 1888862 GeoffreyT
GeoffreyT's picture

To think it's only a week ago that I posted (in TD's "Bye Bye 1700 Gold" thread) that I was shorting $1793 and would see you ladies again at $1700. Did't THAT activate the ADHD of the retarded 8year olds who think that some assets should only ever be bought, regardless of the fact that every small speculator on the planet was already long. 

 

Likewise, it's only TWO days since I posted "Fuck this shit, I'm shorting DJ30 @ 12110" (I covered all at 12050 - it was only an intraday scalp).

 

Well, now I just BOT DJ30 @ 11675 (it's up to 11700 in the time it took to type this), and I'm closing the second half of my Gold short now.

 

Before the howls from the mongoloids commence, I say again: a TRADING position is not, and should not be, a reflection of long-term beliefs or philosophy. I'm a long-time gold bull/equity bear - from 2002 - and as a Rothbardian anarchist I know full well that governments will eventually drive their currencies to zero. But Gold will not get another head of steam until the numpties are all scared of it... like they were after the $400-plus downdraught the LAST time every journalist on the planet cared about Gold quotes.

 

EDIT for clarification: the long DJ30 position will target a 100-point bounce, which ought to unfold over a day and a bit. It's not an intraday "empty hands" position.

 

EDIT to boast: took half off just now at 11740. Not greedy...

Thu, 11/17/2011 - 13:46 | 1887594 NotApplicable
NotApplicable's picture

Damn you, StockTwits!

Thu, 11/17/2011 - 13:46 | 1887595 ffart
ffart's picture

No supercommitte resolution is so bullish for the US dollar you don't even understand. U.S. dollars out the wazoo!

Thu, 11/17/2011 - 13:54 | 1887672 stevegee58
stevegee58's picture

Yay!  Automatic spending cuts that no one can fuck up!  I hope the committee fails!

Thu, 11/17/2011 - 13:59 | 1887701 ffart
ffart's picture

And interest rates will skyrocket causing the debt to be even more unservicable. Return to your normal lives, citizens, this financial crisis is over!

Thu, 11/17/2011 - 14:07 | 1887753 centerline
centerline's picture

Oh no.  The one thing they WILL do is nullify the automatic spending cuts.  The big question will be if any of the rating agencies have the balls to downgrade US Debt as a result of complete inaction.

Of course, it is all comical because we all know that the system is built on perpetual growth and any cuts are deflationary - only to be met by even more leverage (and printing at some point).  Death by deflation or death by inflation.  As long as we are working within the confines of the current system, the choices are just lovely!  

Thu, 11/17/2011 - 14:12 | 1887781 dwdollar
dwdollar's picture

Yep. Anyone who thinks these automatic cuts will be honored hasn't been paying attention... for decades now.

Thu, 11/17/2011 - 15:11 | 1888074 earnyermoney
earnyermoney's picture

Rooting for epic fail. Automatic spending cuts for DHS and TSA. Let them shrivel on the vine.

 

Saw a DHS FPS Chevy SUV this morning on the way to Work. FPS (Federal Protective Services)? What the hell?

Thu, 11/17/2011 - 13:46 | 1887596 Carlyle Groupie
Carlyle Groupie's picture

Collapse by Micheal Ruppert. Everybody cry!

Thu, 11/17/2011 - 13:46 | 1887600 random shots
random shots's picture

Twitter Crash

Thu, 11/17/2011 - 13:46 | 1887601 stormsailor
stormsailor's picture

on that much volume, something just happened.  it bounced at chart support on the hourly.  if it sits on a 1 hour below 1212.5 could get real exciting.

Thu, 11/17/2011 - 13:46 | 1887605 DormRoom
DormRoom's picture

"Debt the only thing still made in America"

Thu, 11/17/2011 - 13:46 | 1887606 1fortheroad
1fortheroad's picture

GRAVITY is a BITCHZ

Thu, 11/17/2011 - 13:47 | 1887608 Careless Whisper
Careless Whisper's picture

most likely scenario is people waking up to the mutha fuker global corzine scheme and heading for the exits before everyone else realizes that their mafia banker is about to loot their account.

 

Thu, 11/17/2011 - 14:34 | 1887871 Tsunami Wave
Tsunami Wave's picture

As the late but great Notorious B.I.G. said it best: Gimmie da loot Gimme da loot!

Thu, 11/17/2011 - 13:47 | 1887609 Bear
Bear's picture

Nothing special here ... just average mini flash crash. This is a gold led slap down. Gold was first to drop, then equities, then Euro ... check the ticks

Thu, 11/17/2011 - 14:23 | 1887825 pmcgoohan
pmcgoohan's picture

Well spotted.

JPM/Fed gold manipulation as catalyst for market crash.

Karmic Poetry.

Thu, 11/17/2011 - 13:48 | 1887612 bernorange
bernorange's picture

QE3 bitchez?

Thu, 11/17/2011 - 13:50 | 1887614 Captain Benny
Captain Benny's picture

EURUSD collapse.  Remember anyone trading in the SPX is trading EURUSD.  Its a good day to work more long positions in PMs, thanks to options expiration and the manipulation there.  Buy some miners, short the ES, sit back, drink a beer, pop some popcorn, turn on CNBC and laugh at the idiots on Fast Money.

Thu, 11/17/2011 - 13:48 | 1887618 Deadpool
Deadpool's picture

option expartion, pre pre holiday, Euro bank burn, margin call, tax loss selling, low volume vac tube suck off.

Thu, 11/17/2011 - 13:52 | 1887620 Manthong
Manthong's picture

Whee!!!

I watched that freakin' flag form and compress before noon and with gold and silver pointing way down, I thought "time to buy a few more SDS".

: D 

Thu, 11/17/2011 - 13:48 | 1887622 pupton
pupton's picture

AAHAHAHAAHAHAHAA!!!!!  Eff 'em all!  It has to come down sooner or later (ES global paper asset bubble).  Let those bitchez at the TBTF Banks rot!  Hold your physical PMs boys!  Oh and don't forget to BTFD!!!

Thu, 11/17/2011 - 13:49 | 1887626 firstdivision
firstdivision's picture

PPT to save the day right at -2%, like clockwork.

Thu, 11/17/2011 - 13:49 | 1887627 jjsilver
jjsilver's picture

You shouldn't be suprised, these criminals control the market, they can make it do what they want.

We must abolish the federal reserve

Thu, 11/17/2011 - 13:49 | 1887630 rubearish10
rubearish10's picture

Not quite a collapse but a good move nonetheless. The GREEKS are BACK!!!!!!! They just won't go away.

Thu, 11/17/2011 - 13:49 | 1887632 Lets Eat Grandma
Lets Eat Grandma's picture

You know the Occupiers are going to take credit for this.

Thu, 11/17/2011 - 13:50 | 1887637 UTICA CLUB XX PURE
UTICA CLUB XX PURE's picture

I hate my Govt.

Thu, 11/17/2011 - 13:53 | 1887657 Troll Magnet
Troll Magnet's picture

i hate your government, too.  but ron paul is surging.  and no one's talking about it.  so i hate your media, too.

Thu, 11/17/2011 - 14:21 | 1887820 NotApplicable
NotApplicable's picture

I love my government.

I trust my government.

I understand my government.

Which, of course, is the beauty of self-government.

Now for all of you irrational people demanding external governments...

You sow the wind, you reap the whirlwind.

Thu, 11/17/2011 - 13:51 | 1887644 Vandelay
Vandelay's picture

rumor is unicredit on the ropes, buy more pasta.

Thu, 11/17/2011 - 14:18 | 1887804 reload
reload's picture

There was an analyst from Unicredit on Bloomberg Radio earlier. When asked what his target was for Euro/$ in 12 months time he hesitated and said 1.40

I forget his exact words, but when asked what the rational for his prediction was he basicaly said

- er ... its a complete guess, in fact everything now is a guess really.....

That was very much the end of his slot!

Thu, 11/17/2011 - 14:21 | 1887817 Bam_Man
Bam_Man's picture

Bullish for Chianti and Brunello futures.

Thu, 11/17/2011 - 13:51 | 1887646 rubearish10
rubearish10's picture

Where's Waddell and Reed?

Thu, 11/17/2011 - 13:51 | 1887650 RobotTrader
RobotTrader's picture

King World News boys must be scratching their heads today

Thu, 11/17/2011 - 13:55 | 1887676 SwingForce
SwingForce's picture

Ralph N. Elliott can explain it......

Thu, 11/17/2011 - 13:59 | 1887703 WonderDawg
WonderDawg's picture

I tend to agree. It's not been great for timing the moves, but if you know the imminent direction and you're smart, you can survive a little bad timing.

Thu, 11/17/2011 - 14:33 | 1887863 SwingForce
SwingForce's picture

I've never seen so many wave 2 peaks- its like looking at a foto of the Grand Canyon....

Thu, 11/17/2011 - 13:58 | 1887700 lieutenantjohnchard
lieutenantjohnchard's picture

actually, they're buying gold and silver for delivery. probably bought yours after your panic sale.

Thu, 11/17/2011 - 13:51 | 1887651 10044
10044's picture

Dude, wait for the 5pm announcement by the CME that they raised au/ag margins yesterday
Guaran-funckin-teed

Thu, 11/17/2011 - 13:53 | 1887658 Stuck on Zero
Stuck on Zero's picture

No.  It's that idiot Bove who said that U.S. banks will benefit from the European crisis because everyone will send their money here.  Brilliant.  What will our banks do with the money?

Thu, 11/17/2011 - 13:55 | 1887678 Careless Whisper
Careless Whisper's picture

it will get corzined

Thu, 11/17/2011 - 13:53 | 1887660 Caviar Emptor
Caviar Emptor's picture

Big players always pull their equity bets when they see global riots. Especially around Broad and Wall.

Oh and add in UBS layoffs

Thu, 11/17/2011 - 13:54 | 1887665 alien-IQ
alien-IQ's picture

clearly this was the result of HFT systems being duped by a rogue twitter account soon to be attributed to the financial services division of Al Qaeda.

Thu, 11/17/2011 - 14:24 | 1887827 Bam_Man
Bam_Man's picture

They hate us for our freedom.

Thu, 11/17/2011 - 15:11 | 1888073 Incubus
Incubus's picture

"I like money."

Thu, 11/17/2011 - 13:55 | 1887677 scatterbrains
scatterbrains's picture

how low do we set our flash crash buy limits on TMV ?  anybody ?

 

Thu, 11/17/2011 - 13:57 | 1887689 alien-IQ
alien-IQ's picture

if I can remember where I put my quantum physics calculator I'll do the math and get right back to you with the answer. just hold tight.

Thu, 11/17/2011 - 14:20 | 1887810 scatterbrains
scatterbrains's picture

I'll wing it and say 51ish,  before it's our turn in the U.S. to roll over.

Thu, 11/17/2011 - 13:55 | 1887681 Caviar Emptor
Caviar Emptor's picture

London Occupy eviction notice looms in next 10 minutes

Thu, 11/17/2011 - 13:59 | 1887706 alien-IQ
alien-IQ's picture

that should be fun..

Thu, 11/17/2011 - 13:56 | 1887682 Dkizzle49855
Dkizzle49855's picture

All I know is ZH rules with the amount and quality of posts daily. I am struggling to keep up today and my biggest problem is a can't get any work done while I'm at work.  Continue on and thanks again for the keeping it real.

Thu, 11/17/2011 - 13:58 | 1887694 Deadpool
Deadpool's picture

silly you at a day job. OWS!

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