Market Response To SarKel Emergency Meeting: Dump

Tyler Durden's picture

Remember what happened to the market following Trichet's disastrous press conference two weeks ago? Well, cue it up, because it is deja vu all over again. The second Sarkozy said that neither the Eurobonds are coming as expected, nor the EFSF will be expanded, the sell off began. The only question the market has is when is the next emergency meeting?

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
speconomist's picture

No Eurobonds and EURUSD not plummeting? Maybe it is because the HFT robots don't understand French and German.

maxmad's picture

Let the mass selloff begin!  In French...

MiguelitoRaton's picture

Emergency meeting declares...no emergency, carry on with the orderly decline

TruthInSunshine's picture

Who predicted that the EU was an unrealistic, cobbled together dream of Hopium and Unicorn Farts before Hopium and Unicorn Farts were household words?

Many.

Die, EU, die (it's really for the best, and in the interest of those who wish not to see crowding out of sovereignty nor unified [let alone a one world, ultimately] government).

Let individuals reign supreme, bitchez.

Waffen's picture

Order out of Chaos.  TPTB will provide more unification as the answer not less and the sheep will follow their Shepard.  I wish it wasn't so, but history is on the side of TPTB getting what they want in the end.

 

Instead we should have more and more regionalization, and more representative government not less. The individual should reign supreme again, but some individuals are more important then others(in their minds) and they wont let that happen.

TruthInSunshine's picture

Yes, indeed.

OIn the meantime, it looks like austerity is gaining traction in Europe, and that's going to really rattle quite a few:

 

Young Buckethead's picture

OT (maybe): Has anyone noticed, in the US, that State Farm Insurance is now a bank?

I've said for four years that Obamacare was not forced down our throats to provide medical care for everyone, but to save the insurance companies - shrinking customer base, shrinking investments for payouts. Now that Obamacare is a failure, we're allowing all the insurance companies to become banks, like the Squid, for banking bailouts at the Fed Window.

Can someone with more experience compare the cost of bailing out the world's banks, to bailing out the world's insurance companies?

Since the bulk of our bailout money went overseas, I have to assume we'll be bailing out all the EU insurance companies, too?

Isn't this bullish for the EU?

Waffen's picture

And just like a Stuka, the dive breaks will engage and the algos will shoot us back up after the pilot has blacked out.

Zymurguy's picture

"Stukas over Disneyland!"

andybev01's picture

"Everybody's doin' the goose step out in Anaheim!!"

(they're goose steppin' out in Anaheim...)

http://www.youtube.com/watch?v=rzSsc6SAFHA

shit; now I'll be singing that all day long ;-)

gulf breeze's picture

We need more direction from Robotart

maxmad's picture

He who's name we don't say out loud here?  He is hiding right now...  Robo not happy

SheepDog-One's picture

Although Robo has been scolding 'bears' they better wake up and get bullish since DOW 12,700, he'll now show up after market close saying 'See? I told ya to short!'

maxmad's picture

Ah yes Robo knows,  before the market knows... 

maxmad's picture

maybe the Euro wont last till next year?

101 years and counting's picture

just waiting for the emergency ecb meeting, where jct will cut 50 points, sending the eur under 1.40. 

Ivanovich's picture

I'm not so sure even that will knock EUR/USD down.  It seems it is supported by China no matter what.

Oh regional Indian's picture

China's no matter what is suddenly looking a bit iffy no? Their entire trillions of US paper just became a lot shakier, value-wise?

I think we are going to see a race to the bottom like never witnessed in the fiat arena. Each nation will pull the trigger to print at the point of maximum pain and with the coming food crisis, it's going to be hungry mobs that decide currecny values.

ORI

http://aadivaahan.wordpress.com/2011/08/16/pre-cursor-2-and-currents/

The Axe's picture

don't forget ..it looks like a transaction tax is coming...and HTF is not going to like that..

SheepDog-One's picture

YES lets introduce new taxes and red tape to markets no one wants to be in the first place, this is going GREAT!

fuu's picture

Actually red tape for HFT would not be a bad thing.

SheepDog-One's picture

Include a required CAPTCHA answer from every market transaction, and the markets would resume sanity. Although at levels for lower than here.

fuu's picture

Actually that isn't a bad idea. Would keep some of the sheeple from getting fleeced as well.

A Man without Qualities's picture

There's going to be a 100% of principal tax for selling European bank stocks.   

 

RiverRoad's picture

This is starting to look like Groundhog Day.

speconomist's picture

Creation of French-German Zone? 4th Reich is back? Sarko just said it.

Oh regional Indian's picture

Heh. It never went away.

The entire US MIC is 4th reich under kinder, gentler skin (Imagine that!!!).

ORI

http://aadivaahan.wordpress.com/2011/08/16/pre-cursor-2-and-currents/

SheepDog-One's picture

Oui!, we have no escargot, we have no escargot, todaaaayyyy!!

ZeroPower's picture

Tartiflette - potatoes with a bunch of cheese and ham mixed in. Not even that great, but try telling a person from the Alps youre not a fan and they basically hear 'fuck you and your unborn kids'. True story.

thepigman's picture

They're so cool about it because they've now decided which countries to push over the cliff.

speconomist's picture

Really, they are saying that this is not the end of the Eurozone, ... IT IS the end of the Eurozone!

Caviar Emptor's picture

Ahh but a dump made with a grin because players are still expecting Sanny CLause to come down the chimney with QE. But what if they're wrong. What if Ben has re-thought the scenario along bifaltionary lines. Hmmm

SheepDog-One's picture

And from what I can see, QE even best case looks like a dud. Who is going to be impressed with a QE $300 billion amount that has been priced in anyway? None of this looks good at all.

Oh regional Indian's picture

And perhaps thus the appropriately named Jackson HOLE?

ORI

 

gwar5's picture

 

So, if MENA and the Saudis end up bailing out Germany and France, are things going to be under Sharia Law?  China and Russian might want a piece of that, too.

 

luigi's picture

It's me or "markets" are reacting like little child stomping feet and crying because daddy refused him his preferred play?

SheepDog-One's picture

Of course the markets are like a spoiled brat on her 'Super Sweet 16' birthday blowout bash where a used VW bug was unveiled instead of the expected new Porsche!

luigi's picture

In such cases parent's firmness is demanded, even at the cost of transitory difficulties in the family's menage...

TruthInSunshine's picture
by luigi
on Tue, 08/16/2011 - 12:56
#1565871

 

It's me or "markets" are reacting like little child stomping feet and crying because daddy refused him his preferred play?

 

That is called the TARP Tantrum, born in 2008 when Sen. Jim Bunning (R-KY) initially refused to go along with Hank Paulson's bullshit 'tanks in the streets & Martial Law' ruse, and killed the epically bad bailout (Bunning later said 'f**k it, I'll resign, and let the people get what they deserve since I have no support in trying to protect the taxpayers from the assraping Wall Street is about to pound upon them" - no an exact quote).

I can't believe they're using such an obvious and already done trick.

Then again, facing their economic & financial reality may be causing them to get net real short, for a real long time (and that would be the smart play).

RoboTarder will show up on the next day/minute/hour that indexes pop (intraday or futures), to claim Uncle Gorilla will win.

Little does he know that Uncle Gorilla presides over Banana Republic, or that Bananas&BubblesBezelbubBernankstain has done a bang up job of using retarded monetary policy to actually break the economy and the markets.

SheepDog-One's picture

Emergency meeting reaches no conclusion, so they say there was no emergency in the firstplace and therefore no meeting. And the black knight is talking backwards..a cat is smoking a hookah on a mushroom...and all is well in the land.

youngman's picture

Its Socialism without the Social.....they forgot to tell eveyone to live the in the same way...

rubearish10's picture

Sarkozy's a little too much involved with Finance and Wars. perhaps he should consider going back to bodybuilding. He's a bit safer that way.