Market Snapshot: Financials Underperform As Europe Closes

Tyler Durden's picture

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rocker's picture

DB, GS, C, jpm, all rallied today.  Huh.

Not that I would buy any. But Huh.   Just who the hell runs the HFTs ?

slewie the pi-rat's picture

ok, looks like time to buy the inexpensive puts and get ready for risk off friday where the scores can really change, and the bonds and USD may look better going into the week-end with the europeons on cruise control;  but they ain't cheap right now, are they?

dow 11K hats!  L0L!!! 

who on earth decided these ponzi-zombies were candidates for re-capitaliZation?  the fuking tooth fairy? 

LetThemFail, BiChez!

slaughterer's picture

ES re-took MA 20, which is the current resistance.  Need some bad news, otherwise the next target is MA 50.  C'mon Tyler, give the world a nice tape bomb.   

redpill's picture

Finally, those silly Euro markets finally closed.  Now we can get back to our illusory S&P 500 meltup undistracted!

HD's picture

Bullish on hopium.

The "new" S&P target is now 1325 EOY...the BS just never stops.

walküre's picture

It will get there or higher. Who cares? The money is worth less by the day.

Gas prices are high. Feed prices are high. Meat prices are high.

You can protect your wealth with equities in a casino market or you can buy gold, silver, land, livestock and so on and have something tangible.

The banks can't steal your tangible assets but they WILL raid your equity portfolio. That's what they're designed to do.

SheepDog-One's picture

Irrelevant where the S&P is. Thats why we're in the trouble we're in, stupid stockcentric american people...if stocks up, then all is well. You cant have a more stupid society than what we have,

redpill's picture

If I didn't know better I would have thought you just inferred that the stock market isn't the same as the economy, but that's not what Jim Cramer told me!

 

thunderchief's picture

Go Silver!

40 50 60

New Years Party!

Dingleberry's picture

HFT trading is one thing, investing another. These banks are goin' down, but not soon enough!!!! BEsides, all anyone cares about today is the Messiah passing last nite.

walküre's picture

None of the ECB talk matters. Germany is NOT going to fund the ECB unless it helps German banks first. I said this before, there is not one single politician who is willing to sign on the dotted line to authorize these transfer payments. I would suspect that every other European nation is in a similar predicament. All the EU unity talk is CHEAP. Literally.

From my layman's perspective as a farmer.. they can dump all the toxic assets into one gigantic pit, they can buy all the bonds of the European nations with ECB commitments and with money that doesn't exist.. eventually the pit will be filled and a new pit will have to be created.

Then there's spillage and contamination of the ground and the fact that cattle doesn't live off shit, they produce it. Something of nutritional value has to go into the livestock or they will die. How are Europeans supposed to eat when their banks have contaminated the entire farm?

But don't listen to me. I'm just a farmer. What do I know? FWIW farmers have been around longer than bankers.

Harlequin001's picture

You're just pissed off 'cos you can't print corn...

walküre's picture

Funny.

I get more paper for the corn every year. Can't see it coming down when central bankers are in a race to the bottom.

One day I might not accept paper but will sell you a quarter or half steer for some gold.

Belarus's picture

i exoect there will be a lower high in the ES. If it doesn't end much higher from here I expect to see a sharp reversal and breaking support of 1120 fairly quickly and dramatically again. 

Everyone seems to forget beyond the systmatic risk Europe illicits is that the U.S. economy is in shambles and is contracting toward a negative GDP print, as we transfer record unfunded spending into the ecoomy. Once the focus shifts back to whats happening right now in the economy, we'll see the deflationary spiral to take hold. Which only means the out-of-the-money calls on the Bernanke put gets that much closer.

 

reload's picture

I agree - but what a day for the European Indicies - Viciously choppy interspersed with manic spikes up. Short squeeze?, `investors` flocking to the call of more BOE printing? Who knows, but some bears will be nursing deep wounds tonight. FTSE has now broken (very convincingly) the downtreand from early July and could easily gain another 110 points before rubbing into any proper resistance at 5400 - today felt like the shorts below that level were throwing in the towel.

When Mervin says printing and currency debasement are my only tools to get the ecconomy going it is time to get out of the way. Meanwhile main street is in a full blown depression. When he says the weak pound will boost demand its hard to know what he means - most of what we consume is imported and getting more expensive and we dont export much at all. Perhaps he meant demand for stocks?

Article on here last night re the `short interest` kept me out of trouble today - thanks Tylers.

SheepDog-One's picture

If the shorts are throwing in the towel as you say, then the only way is down.

Zonker's picture

V bottom is in, financials done going down (that is really all we need).  This move has legs to continue trading to the upside.  One more rally on Bad news, and I'm calling it done and over for a "collapse"

 

Good Trading People!

Z

AldousHuxley's picture

Europe needs another revolution otherwise socialism will turn into communism to keep the elite royalty in power.

lix333's picture

Germany ordered the new currency and asked that the printers to hurry up. http://www.pippamalmgren.com/77.html

lix333's picture

 

Germany ordered the new currency and asked that the printers to hurry up. http://www.pippamalmgren.com/77.html

 

spongeBOB's picture

Financials underperformed the market on the way down and they will outperform on the way up. You cannot engineer a lasting rally without the financials leading. Shorting banks at this point is not in your favor from a risk/reward point of view.

lemarche's picture

Tyler your comments are hilarious !!! haha... "not a loan" ! Seems the FT forgot to mention that...

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