Market Snapshot: Dow Jones Soars 400 Points On European Rescue Plan #42

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Tue, 10/04/2011 - 16:49 | 1738893 GeneMarchbanks
GeneMarchbanks's picture

Let's not even talk about this... I'm just not ready, man. Someone tell me this much, has our collective Western culture gotten so dumbed down that this is now, not only acceptable, but the norm?


Next asshole to use the word "free" within six paragraphs of the word  'market" ... and I'll just... I'll I'll lose it.

Tue, 10/04/2011 - 16:50 | 1738921 12ToothAssassin
12ToothAssassin's picture

Obviously because 42 is the answer to the universe.

Tue, 10/04/2011 - 16:59 | 1738962 WonderDawg
WonderDawg's picture

We might have hit a near term low today, which will be followed by a month or two long rally. It goes against my every instinct to say that, which is why it's probably right.

Tue, 10/04/2011 - 17:03 | 1738977 Cdad
Cdad's picture

I highly doubt that.  I think you got half a day the most.  And if the metals reverse and head up, which I think they will do tomorrow, it is game over for the S&P.

Zero hour is very, very close.

Tue, 10/04/2011 - 17:08 | 1738993 Ahmeexnal
Ahmeexnal's picture

Give me a few more days to buy some more "junk" silver.

How about a EU fast track approval for Turkey full membership?

That should give us at least a month. But it would obliterate Turkey in the process.

Tue, 10/04/2011 - 17:34 | 1739096 Cdad
Cdad's picture

The silver trade is ripe for a short squeeze.  I'm not sure you have a few more days in the paper market for silver, anyway.

As for Turkey...seriously, who cares?

Tue, 10/04/2011 - 20:45 | 1739701 Bicycle Repairman
Bicycle Repairman's picture

This is still a bear market, but you'd better understand THEY INTEND TO SQUEEZE EVERY SINGLE SHORT DRY on the way down.  They know exactly who the shorts are and what cards they are holding.  If you play, you lose.  You are public enemy #1.  They can f#ck you and everyone will applaud.

Tue, 10/04/2011 - 23:13 | 1740036 bid the soldier...
bid the soldiers shoot's picture

I think you mean that when it's not totally rigged and crooked, it has a downward bias.

I can live with that.

Wed, 10/05/2011 - 01:40 | 1740280 FreeNewEnergy
FreeNewEnergy's picture

Sorry, but silver is probably heading back to 17 per once all the ass-holes buying phyz at 20% over spot realize their massive mistake.

Not kidding and you can neg all you like, but check with me in 6 mo to a year and you'll kick yourself.

Tue, 10/04/2011 - 17:10 | 1739002 WonderDawg
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As always, time will tell. I suspect a rally is forthcoming, I just thought we would get closer to 1020 S&P, and we still might, but I think a rally is close at hand. Short term rally, but it will be a chance to make some quick money, and then roll over into puts for the collapse, which will take out the 2009 lows on the way down.

Tue, 10/04/2011 - 19:07 | 1739442 Jack Napier
Jack Napier's picture

Patience my friend. 2 million put options on the S&P for shocktober means 1 of 2 things. Either TPTB are gearing up for some serious profits, or they are trying to fool everyone trying to ride their coat tails into getting sheared. Either way, there is about to be some movement and it never goes in a straight line.

Tue, 10/04/2011 - 20:23 | 1739640 WonderDawg
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Yep, patience is the key. I did sell my CMG puts today for a tidy profit. Not a home run, I came in a little late, but not bad. Still holding my March LULU puts for now, we'll see what happens the next couple of days. If it looks like this is the rally I'm expecting, I'll sell the puts and buy some index calls. If my forecast is correct, I see potential for a fairly enthusiastic rally for a couple of months. But again, I'll see how the next day or two looks before committing any capital one way or the other. In this environment, practice patience and keep your powder dry for the big moves.

Tue, 10/04/2011 - 21:11 | 1739752 WonderDawg
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Now that the dust has settled a little, I think it's possible this afternoon was just a bone-crushing short squeeze. I'm gonna sit tight, for now. Maybe we will drop down to 1010-1020. If we drop to 1020, that's the point I'll go long. If we bounce from here, well... I don't know. Fuck it. It's late and my brain is too fried for this shit.

Tue, 10/04/2011 - 17:26 | 1739055 boiltherich
boiltherich's picture

So long and thanks for all the fish.

Tue, 10/04/2011 - 22:48 | 1740000 jekyll island
jekyll island's picture

What do you get when you multiply 6 x 9?

Wed, 10/05/2011 - 00:27 | 1740172 Newsboy
Newsboy's picture

Is 42 your front chainring?

Tue, 10/04/2011 - 16:51 | 1738930 Motley Fool
Motley Fool's picture

Market has gone full retard. :|

Tue, 10/04/2011 - 18:36 | 1739341 UGrev
UGrev's picture

I don't think "Full Retard" fully describes the market. It's more like a multiple personality disorder coupled with manic depressive and seasonal affective disorder with a dash of schizophrenia for how it responds to the (rumor) voices in its head. 

Tue, 10/04/2011 - 20:30 | 1739662 bid the soldier...
bid the soldiers shoot's picture

No Tourette's?

Tue, 10/04/2011 - 21:14 | 1739755 UGrev
UGrev's picture

No.. that's what people think you have when they walk by your office as you stare at the market and hear your expressions of complete and absolute bewilderment. Something along the lines of "WHAT THE SHIT, MOTHER FUCK, CRACK ASS.. STUPID FUCKIN... AAAAAAAAHHHH!!"

Tue, 10/04/2011 - 23:16 | 1740044 bid the soldier...
bid the soldiers shoot's picture

I see.

It's only when you hear that on the subway that it's Tourette's

Tue, 10/04/2011 - 21:03 | 1739736 TheFourthStooge-ing
TheFourthStooge-ing's picture

I don't think "Full Retard" fully describes the market. It's more like a multiple personality disorder coupled with manic depressive and seasonal affective disorder with a dash of schizophrenia for how it responds to the (rumor) voices in its head.

Oh, now I understand. The market has been elected to congress.


Tue, 10/04/2011 - 16:52 | 1738933 chet
chet's picture

Yeah, why even try to apply rational analysis to this horseshit?  You want analysis:  It's horseshit.  There is your analysis.

Tue, 10/04/2011 - 17:25 | 1739049 boiltherich
boiltherich's picture

It was a rumor that Mayor Bloomberg ordered the police to arrest anybody south of 14th Street not wearing $2,000 shoes as OCCUPY WALL STREET protesters. 

Tue, 10/04/2011 - 17:27 | 1739061 Motley Fool
Motley Fool's picture

After reading this I'm inclined to cheer him on :


Tue, 10/04/2011 - 18:41 | 1739360 disabledvet
disabledvet's picture

You forgot "demand 42: happy days reruns will be returned immediately to their rightful place...just after MASH reruns..while Cheers reruns will assume THEIR rightful place BEFORE MASH reruns."

Tue, 10/04/2011 - 18:49 | 1739390 Troublehoff
Troublehoff's picture

Aye, too many socialists on there... it's so obvious what's going to happen if the 99%er people get their way. It won't be less government libertarianism. It will be socialism... :(


I tried to post this, but comments not uploading now:

Hi all,

First, thanks to all the protesters who are out there on the street even if the main stream media seems to be ignoring you.

I'm sure every one of these protesters has a different idea of what needs to change in modern western society which is why it's proving so difficult to speak with a single voice.

Personally, I'm not keen on the proposals listed above. They are socialistic and expect entitlements without responsibility. Also, what is fundamentally wrong with free trade?

I believe that what we need is lees government, more freedom, more transparency, and a money system where private institutions cannot create money out of thin air (i.e. abolish fractional reserve banking)..

I believe in welfare and health care but a person, if able should be expected to work in some capacity for these (even unemployed)..

do any of you think government can spend money more wisely than yourselves to deliver the services you yourselves require...?

when the government spends money badly, it is robbing you of your free time, or of a better standard of living, or of the possibility of an early retirement - there is no free lunch but with the original spirit that built the US and other western powerhouses, we could all enjoy a more prosperous, fairer society

Tue, 10/04/2011 - 17:03 | 1738979 BadKiTTy
BadKiTTy's picture

If you trade in this 'market' your money will be taken from you for free lol

Tue, 10/04/2011 - 17:37 | 1739115 reTARD
reTARD's picture

Irrational exuberance? As my "idol" Alan Greenspan would say.

Tue, 10/04/2011 - 17:43 | 1739138 iNull
iNull's picture

It's all about power. TPTB cannot afford to lose right now or they will lose everything. So they will pull every trick, every stunt possible, no matter whether it is obvious or not. They don't care at this point. It's life or death for them. A cornered and dying animal can fight with surprising strength and visciousness. Expect no less.

That said, moving the market for an hour is not "moving the markets." They just bought themselves another day is all. The entire system could crash at any time.

Tue, 10/04/2011 - 22:50 | 1739644 bid the soldier...
bid the soldiers shoot's picture

TPTB are not worried about losing. They are worried about what life will look like after they win. They would like it to be more normal than most predictions. Normal or not, they'll be on top.

I respectfully disagree with your observation: "moving the market for an hour is not "moving the markets."

Do you know what they got done in that hour? The derivatives? The leverage? How many thousand stocks follow the DJIA when it moves one way or the other? How short were they when they covered at the low of the day, How long when they sold at the top? How much in profits did they remove from our wallets?

They don't call them TPTB because they don't know what they are doing.

Tue, 10/04/2011 - 17:43 | 1739148 Grinder74
Grinder74's picture











How's that?

Wed, 10/05/2011 - 00:05 | 1740132 mailll
mailll's picture

Allow me to make the correction.  MANIPULATED MARKET.  I hope this correction will set your mind at ease. 

Tue, 10/04/2011 - 16:45 | 1738902 mayhem_korner
mayhem_korner's picture

Fade reality.

Hookers and blow just showed up at CNBC's studios.

Tue, 10/04/2011 - 18:43 | 1739368 disabledvet
disabledvet's picture

This time through the front door! Woohoo!

Tue, 10/04/2011 - 16:46 | 1738904 Ellesmere
Ellesmere's picture

When are those f*ckers going to leave the market alone !

Reminds me of Sisyphus rolling his public money-ball up the taxpayer hill to see it collapse all over again. Stupid.

Tue, 10/04/2011 - 20:48 | 1739709 Bicycle Repairman
Bicycle Repairman's picture

"When are those f*ckers going to leave the market alone !"

When you leave.

Tue, 10/04/2011 - 16:47 | 1738906 Mongo
Mongo's picture

Collateralized Viagra...

Tue, 10/04/2011 - 17:15 | 1739022 ZeroPoint
ZeroPoint's picture

Look at this from 2008:




Tue, 10/04/2011 - 19:47 | 1739549 CrankItTo11
CrankItTo11's picture

That's fantastic. I wonder when they deleted all the comments that most likely were there at some point. 

Tue, 10/04/2011 - 17:43 | 1739147 adr
adr's picture

Well if the webpage stays down and my automatic payment doesn't get deducted and they use it as an excuse to hit me with a fee or raise my rate, I'll just stop paying them. Before I do that I might just take a few hundres out of a couple ATMs. Maybe I'll help the economy by buying a new car on the credit card. 

All bets are off with the bank of scum.

Tue, 10/04/2011 - 16:47 | 1738908 Josh Randall
Josh Randall's picture

Apocalypse paused while the world goes to the restroom...will resume shortly

Tue, 10/04/2011 - 17:13 | 1739012 tekhneek
tekhneek's picture

Yeah well... that's just like, your opinion... man...

Tue, 10/04/2011 - 18:51 | 1739397 disabledvet
disabledvet's picture

Is that the chant of "collapse! collapse! collapse!" I heard from "the protesters"?

Tue, 10/04/2011 - 16:49 | 1738920 The4thStooge
The4thStooge's picture

belgium has a government?

Tue, 10/04/2011 - 17:08 | 1738995 Piranhanoia
Piranhanoia's picture

Please, in the interest of humanity, stop using that word so carelessly. 

Tue, 10/04/2011 - 17:13 | 1739016 fuu
fuu's picture

He's angling for a Rory.

Tue, 10/04/2011 - 23:04 | 1740024 lano1106
lano1106's picture

Yes, it is the Dexia board.


Tue, 10/04/2011 - 16:50 | 1738923 MarketTruth
MarketTruth's picture

Bag of crap disguised as..........

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