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Market Snapshot: Open Modestly Positive (For Now)

Tyler Durden's picture





 

S&P futures just opened mildly positive in line with the recovery in EURUSD from its Sunday afternoon lows (having broken below 1.335). As we post, Gold has opened very noisily but remains a little higher than Friday's close at around 1642. It seems the apparent no news from Dexia (which is clearly terrible news) is yet to be considered by reality but as we noted on Friday, the fact that Treasuries are closed suggests reactions may be a little unexpected with no immediate safe haven to flood to. JPY crosses are slightly higher sustaining the very small bid under ES for now as it tracks a small range around 1157-8. Very early runs in credit land show a small compression in Main and further senior-sub decompression in financials. Oil also opened up small but more reflective of the small drop in DXY than anything else for now.

Chart:Bloomberg

 


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Sun, 10/09/2011 - 18:22 | Link to Comment RobotTrader
RobotTrader's picture

For all the knashing of teeth the last few days, looks like Dexia is a non-event.

Hey, at least gold is up, so most of the ZH bloggers should be high-fiving the ES futures ramp.

Sun, 10/09/2011 - 18:24 | Link to Comment mynhair
mynhair's picture

Robo got a first, bitchez!

Sun, 10/09/2011 - 18:28 | Link to Comment SheepDog-One
SheepDog-One's picture

Robo still never been laid though.

Sun, 10/09/2011 - 18:55 | Link to Comment Esso
Esso's picture

Most likely RoboTarder has never made a trade either.

Sun, 10/09/2011 - 19:13 | Link to Comment SilverIsKing
SilverIsKing's picture

Speaking of Dexia, on July 7 & 8 this year, S&P and Moody's gave Dexia A1 and P1 ratings, respectively.

See page 11:
http://www.dexia.com/EN/journalist/press_releases/Documents/20110408_CP_...

While not the top ratings available, just three months later...and they're gone!

http://www.henkel.com/com/content_data/Ratings_overview_english.pdf

Not that we didnt already know but these ratings agencies really do not know what they're doing...or do they???

Sun, 10/09/2011 - 19:30 | Link to Comment knukles
knukles's picture

 

 

 

                 (maniacial laughter)

Sun, 10/09/2011 - 19:50 | Link to Comment topcallingtroll
topcallingtroll's picture

Play nice.

Sun, 10/09/2011 - 21:32 | Link to Comment Randall Cabot
Randall Cabot's picture

He hasn't figured out how to get a chick into his mom's basement yet.

Sun, 10/09/2011 - 21:48 | Link to Comment RoRoTrader
RoRoTrader's picture

The banks are going to print, print and print.......Mervyn King summed it up, "What a mess we have created - sacrifice the pensioners and savers. Print."

This 2010 r squared.

Sun, 10/09/2011 - 18:30 | Link to Comment wombats
wombats's picture

Who cares about ES futures.

Tell me about Pitchfork futures and Torch futures.

Sun, 10/09/2011 - 18:34 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

You can always set your watch to the typical low vol, Sunday night futures melt up. Fraud and manipulation at it's finest.

Sun, 10/09/2011 - 19:18 | Link to Comment westboundnup
westboundnup's picture

Keep f'ing that chicken.

Sun, 10/09/2011 - 19:19 | Link to Comment Market Efficien...
Market Efficiency Romantic's picture

treauries closed, EU repos not reacting before 7 hours from now, why should there be a gap down in Asia? Dexia is not Lehman re direct effects. The problem has not occured during the weekend but last Tue, decisive EU policy action has lost its credibility before the announcements of crucial meetings this weekend and the structural consequences of Dexia such as credit rating impacts yet unassessable, you will have to wait at least until some time during the day tomorrow for things to unravel.

Sun, 10/09/2011 - 18:23 | Link to Comment mynhair
mynhair's picture

Nobody cares anymore about Europe.

Sun, 10/09/2011 - 18:27 | Link to Comment SheepDog-One
SheepDog-One's picture

I never did care about Europe. I cant think of a single thing I NEED from Europe at all.

Sun, 10/09/2011 - 18:34 | Link to Comment Alvaro de Esteban
Alvaro de Esteban's picture

Errr, if you drive ANY car, travel by train, or even sail a boat, maybe you need something from Robert Bosch, 

Sun, 10/09/2011 - 19:33 | Link to Comment knukles
knukles's picture

Yeah, well England has Lucas. (cancel each other out)

Sun, 10/09/2011 - 20:44 | Link to Comment SheepDog-One
SheepDog-One's picture

Who gives a shit?

Like no one else can possibly make it as well?

Sun, 10/09/2011 - 20:47 | Link to Comment knukles
knukles's picture

Betcha Chineee good makie.

Sun, 10/09/2011 - 20:53 | Link to Comment SheepDog-One
SheepDog-One's picture

China can copy anything, theyve got Blackberries and IPhones knocked of cheep cheep....they sure as hell can make a spark plug or a motorized hand tool.....fuckin shame is WE no longer can!

Sun, 10/09/2011 - 18:54 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Brent comes from Europe.  It fed you today.

And to see how the game is being played, scope this list of the world's oil prices:

Tapis  $116.63 http://www.bloomberg.com/apps/quote?ticker=APCRTAPI:IND

Brent $106.15 http://www.bloomberg.com/apps/quote?ticker=EUCRBRN1:IND

Alaska $107.63 http://www.bloomberg.com/apps/quote?ticker=USCRANSW:IND

Louisiana Sweet $109.48 http://www.bloomberg.com/apps/quote?ticker=USCRLLSS:IND

WTI $82.98 http://www.bloomberg.com/apps/quote?ticker=USCRWTIC:IND

African Bonny $108.29 http://www.bloomberg.com/apps/quote?ticker=AFCRBONL:IND

Euro Forties $106.53 http://www.bloomberg.com/apps/quote?ticker=EUCRFORT:IND

Asian MINAS $115.46 http://www.bloomberg.com/apps/quote?ticker=APCRMINA:IND

Arabian Gulf $100.98 http://www.bloomberg.com/apps/quote?ticker=PGCROMAN:IND

Urals $104.49 http://www.bloomberg.com/apps/quote?ticker=EUCRURNW:IND

 

Anyone want to find the bullshit generated outlier?  This is why you're paying 30+% more for gasoline than last year.  

 

Sun, 10/09/2011 - 20:46 | Link to Comment SheepDog-One
SheepDog-One's picture

Fuck Brent. I went fishing today and ate those.

Sun, 10/09/2011 - 20:48 | Link to Comment Zeilschip
Zeilschip's picture

You're not being efficient, at least that's what Michael Porter says.

Sun, 10/09/2011 - 18:29 | Link to Comment X.inf.capt
X.inf.capt's picture

maybe, hair...

im curious of whats going to happen when hong kong opens...

my guess is gold is going to take off like a rocket...

Sun, 10/09/2011 - 18:31 | Link to Comment Long-John-Silver
Long-John-Silver's picture

Gold up $3 and Silver up .20 on open.

Sun, 10/09/2011 - 18:39 | Link to Comment X.inf.capt
X.inf.capt's picture

someones dumping treasuries, 2 yr and up

10 yr yield up 9 

uh oh

Sun, 10/09/2011 - 19:08 | Link to Comment X.inf.capt
X.inf.capt's picture

sorry, my bad...

 

Sun, 10/09/2011 - 18:34 | Link to Comment mynhair
mynhair's picture

I'm convinced this pig world market reflects the least common denominator, and, given our Fearless Leader, he is the least.

Sun, 10/09/2011 - 20:43 | Link to Comment max2205
max2205's picture

Meltup continues to 200 ema

Sun, 10/09/2011 - 18:30 | Link to Comment Long-John-Silver
Long-John-Silver's picture

All the other people on the rope line are busy trying to cut themselves free as their being dragged toward the cliff edge.

Sun, 10/09/2011 - 20:35 | Link to Comment ffart
ffart's picture

I don't know what purpose the DXY is supposed to serve when the majority of imports come from China these days, and not europe.

Sun, 10/09/2011 - 18:34 | Link to Comment SheepDog-One
SheepDog-One's picture

Futures arent reflecting reality? No WAY!

Besides futures are now completely irrelevant, look at Fridays maniacal market actions, 100 point swings in minutes.

Sun, 10/09/2011 - 18:33 | Link to Comment Racer
Racer's picture

US seems to be cheering but Germany/UK futures not that happy!

Sun, 10/09/2011 - 20:20 | Link to Comment broke433
broke433's picture

Where do you check futures for those?

Sun, 10/09/2011 - 20:47 | Link to Comment broke433
broke433's picture

Ty kind sir, way beteer than finz

Sun, 10/09/2011 - 20:20 | Link to Comment broke433
broke433's picture

Where do you check futures for those?

Sun, 10/09/2011 - 18:33 | Link to Comment buzzsaw99
buzzsaw99's picture

1492 columbus sailed the ocean blue bitchez.

Sun, 10/09/2011 - 18:43 | Link to Comment BORT
BORT's picture

And carried an old world disease to the new. 

Sun, 10/09/2011 - 19:40 | Link to Comment buzzsaw99
buzzsaw99's picture

the new world may have gotten the shit end of the biological warfare stick but keep in mind that correlation doesn't always imply causation.

 

edit: or perhaps you weren't referring to viral and bacterial diseases at all? either way tomorrow is columbus day so suck it bitchez.

Sun, 10/09/2011 - 20:57 | Link to Comment John Law Lives
John Law Lives's picture

In case you haven't read it, you might enjoy 'Guns, Germs, and Steel: The Fates of Human Societies' by Jared Diamond (1997).

Good book!

Sun, 10/09/2011 - 21:24 | Link to Comment Gene8696
Gene8696's picture

+1 super book

Sun, 10/09/2011 - 21:39 | Link to Comment -Michelle-
-Michelle-'s picture

They carried New World diseases back, too.  Syphilis.  It wasn't as slow-acting as it is now.  Back then, you got covered head to toe in pustules and you died within months.  Cuts both ways...

Sun, 10/09/2011 - 20:56 | Link to Comment John Law Lives
John Law Lives's picture

In case you haven't read it, you might enjoy 'Guns, Germs, and Steel: The Fates of Human Societies' by Jared Diamond (1997).

Good book!

 

Sun, 10/09/2011 - 21:17 | Link to Comment buzzsaw99
buzzsaw99's picture

I sometimes forget that many cultures rue the day "dirty europeans" rocked their world. I wasn't trying to be insensitive. Don't worry indigenous peeps, many populations are now outbreeding the white menace, and then it will be party time.

Sun, 10/09/2011 - 18:34 | Link to Comment chump666
chump666's picture

Europe is a zombie.  Watching Asia, if indexes start to go neg....

Sun, 10/09/2011 - 18:39 | Link to Comment Mike2756
Mike2756's picture

Aussie gapped down and filled the gap, and reversed lower.

Sun, 10/09/2011 - 18:51 | Link to Comment chump666
chump666's picture

if the ASX200 overshoots it's sell off (following S&P500 sell off) should drag the AUD down.

The market looks confused and nervous. China (fudgy) data due next few hrs, watching money supply.  also wanna see if the commie stat people freak out the market and reveal a really low CPI.  We hope.

Sun, 10/09/2011 - 19:09 | Link to Comment chump666
chump666's picture

...very good link!

Sun, 10/09/2011 - 23:10 | Link to Comment Mike2756
Mike2756's picture

I would think we get some type of retest if it's going higher.

Sun, 10/09/2011 - 18:45 | Link to Comment Pretorian
Pretorian's picture

Relax,  people starts shorting their moms .... shit in shit out,,,, This world have gone 50years through same debt issues and never collapsed with exact deficits and gimiks. Greeks in the last 100 years have defaulted 20 times  they had same balance sheet including the debt of US. But now some smart ass'es have discovered the word DEBT and are shiting all over without pumpers. 

Sun, 10/09/2011 - 19:01 | Link to Comment unum mountaineer
unum mountaineer's picture

belly snort. and yet smart asses like you have not discovered the word counter party risk...go figure

Sun, 10/09/2011 - 20:37 | Link to Comment SheepDog-One
SheepDog-One's picture

Another idiot who says today is no different than 100 years ago....taken a look at M-3 chart lately?

Sun, 10/09/2011 - 18:45 | Link to Comment RobotTrader
RobotTrader's picture

 

 

Nothing much is going to happen in the next 24 hours.

Just a bunch of robots and HFT's playing ping pong with ES futures, back and forth in an illiquid market, with the usual sudden shanks, boner runs, clothesline drops, etc.

Basically just more "bloodsport" among the action junkies playing around, seeing which guy can "off" the other guy the fastest.

No different than Mayweather and Ortiz talking a bunch of trash on TV in all the interviews before the real fight begins.

Sun, 10/09/2011 - 19:40 | Link to Comment knukles
knukles's picture

Robo bum, you jus' talkin' me bad to buyin' mommaz ass sum stocks, Yo!

Sun, 10/09/2011 - 19:54 | Link to Comment buzzsaw99
buzzsaw99's picture

robo has like five monitors

do not mess with him

Sun, 10/09/2011 - 20:11 | Link to Comment papaswamp
papaswamp's picture

Only 5?... That's not including the 3 Plasma TVs right?

Sun, 10/09/2011 - 20:14 | Link to Comment buzzsaw99
buzzsaw99's picture

yeah, he has bloomberg, cnbc, and the religious channel all going at the same time.

Sun, 10/09/2011 - 20:25 | Link to Comment Hedgetard55
Hedgetard55's picture

yet he can't spell "gnash" properly. Wassup wid dat?

Sun, 10/09/2011 - 21:20 | Link to Comment buzzsaw99
buzzsaw99's picture

I just got that one. :derrr: Funny.

Sun, 10/09/2011 - 18:47 | Link to Comment Boilermaker
Boilermaker's picture

I love how the futures open positive almost every fucking night.

God, I love that shit.  It's so real-like.

Sun, 10/09/2011 - 18:47 | Link to Comment YesWeKahn
YesWeKahn's picture

Boring monday morning.

Sun, 10/09/2011 - 18:49 | Link to Comment Belarus
Belarus's picture

The market will soar tomorrow for no other reason that the ALGO's have been instructed to be on high alert. And with the Merkel/Sarkosky plan of a plan to make a plan of a plan that will bail out everything, I expect to see at least 7% this upcoming week. 

While I believe it'll all come crashing down in the not so distant future (how could it be otherwise), the problem near term is with DEXIA being nationalized, and the French/Belgium government taking over, the markets will see this as a decisive sticksave, neverrmind the fact that Belgium will not be able to fund itself through Dexia anymore. And now with all other banks getting the plan of a plan to make a plan of said recap, and the market buying every false headline, watching what happens will be a waste of time in the near term....because the market will surely rally hard within the half hour of close--yet again tomorrow.

I'm hoping the market skyrockets the rest of the year, then, and only then, will I finally be able to get a good short on. It's all too obvious the market should crash right now--this week, which is exactly why it will not happen. The market always does what it's supposed to do, just never when it is supposed to do it.

Sun, 10/09/2011 - 18:56 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

The market should not crash now.  The market is earnings focused.

They will be poor.  They will not be zero.  And so slow, relentless downward slide is the future, of all things.

Sun, 10/09/2011 - 19:37 | Link to Comment maxmad
maxmad's picture

Just not on your time... It will crash when you are all in... Robo should be your advisor

Sun, 10/09/2011 - 19:42 | Link to Comment knukles
knukles's picture

Robo say fuck yo bad be buyin 'momma sum dem stockz, Yo!

Sun, 10/09/2011 - 21:28 | Link to Comment Alea Iactaest
Alea Iactaest's picture

Slovakia, bitchez...

Sun, 10/09/2011 - 18:55 | Link to Comment Pretorian
Pretorian's picture

Wall Street protest full steam today! http://www.youtube.com/watch?v=4V1dmlRpe30

Sun, 10/09/2011 - 20:10 | Link to Comment porrannor
porrannor's picture

This is at least a week old clip F...ING moron. So, it is fine to lie now, as long as it's for a cause? Makes me barf... 

Sun, 10/09/2011 - 21:44 | Link to Comment PY-129-20
PY-129-20's picture

That's still a powerful image at 5:50 - http://img37.imageshack.us/img37/9097/52639952.jpg

Sun, 10/09/2011 - 19:06 | Link to Comment ??
??'s picture

Spring Cleaning in Egypt

Spring Cleaing in Libya

Cairo clashes leave 23 dead after Coptic church protest

http://www.bbc.co.uk/news/world-middle-east-15235212

 

Tawergha refugees fear slaughter in Sirte (ethnic cleansing)

http://www.digitaljournal.com/article/312281

 

“They arrested about 25 of the men,” Mohammed said. “They were shooting in the air and hitting them with their rifle butts.”

“They took the women, old men and children out in trucks,” he said.

http://libya360.wordpress.com/2011/09/14/empty-village-raises-concerns-a...

 

Sun, 10/09/2011 - 20:28 | Link to Comment Hedgetard55
Hedgetard55's picture

Barry high fiving Hillary! on this and both lighting up victory stogies.

Sun, 10/09/2011 - 19:05 | Link to Comment mcguire
mcguire's picture

SARKOKEL lights a cigar and throws its feet up.. 

http://www.bloomberg.com/news/2011-10-09/u-s-stock-index-futures-advance...   

 

Sun, 10/09/2011 - 19:06 | Link to Comment Dailo
Dailo's picture

Look for a bear market this week!

Sun, 10/09/2011 - 19:55 | Link to Comment topcallingtroll
topcallingtroll's picture

Bull

Sun, 10/09/2011 - 20:22 | Link to Comment chump666
chump666's picture

Aloca won't fudge their numbers, meaning they will be crap, so that the YUAN bill is justified and the trade war can rev up. 

Markets should turn neg hard mid week, then rally end week...hoping.

Sun, 10/09/2011 - 20:34 | Link to Comment SheepDog-One
SheepDog-One's picture

Yes I concur, markets should be up then down, or down then up.

Sun, 10/09/2011 - 20:47 | Link to Comment Dailo
Dailo's picture

No - BEAR I SAID!

Sun, 10/09/2011 - 19:09 | Link to Comment Racer
Racer's picture

As it ever was

Bring on Vive la Revolution

Watched "Orphans of the Storm" 1921 film ... we need la Revolution  around the world now!

Sun, 10/09/2011 - 19:45 | Link to Comment knukles
knukles's picture

Great film catching similar zeitgeis of OWS, bankers, etc., is the newly relaesed full cut of Metropolis.

Sun, 10/09/2011 - 19:32 | Link to Comment Nate H
Nate H's picture

Im bearish on all financial assets. But what about this news is particularly bearish? Tyler?  (This was pretty much expected - the nationalization - IMO). A series of such nationalizations is coming and I would guess initially will be bullish as they will be Euro equivalent of "Greenspan put' other than the individual name involved (In this case Dexia). But message to mkt is that govts will step in to stem any systemic risk.. (Until they are the Dexias, but that moment is not now, and certainly not based on this news).

 

What am I missing?

Sun, 10/09/2011 - 19:34 | Link to Comment maxmad
maxmad's picture

You're a bull in bear's clothing is what you are missing!

Sun, 10/09/2011 - 19:41 | Link to Comment Market Efficien...
Market Efficiency Romantic's picture

The nationalization wave is a zero-sum game. The funds needed for such a move under the currently rather nervous rating agency regime and historically overstated sovereign ratings lower the sovereigns' credit ratings, which in turn increase the cost of borrowing for the freshly recapitalized banks. Say hello to the downward spiral and that is the positive case assuming Europe at one point manages to articulate not only an nth-degree plan, but enforce action.

Sun, 10/09/2011 - 21:31 | Link to Comment Alea Iactaest
Alea Iactaest's picture

Funds? Funds? We don't need no stinkin' funds!

Mon, 10/10/2011 - 06:50 | Link to Comment Market Efficien...
Market Efficiency Romantic's picture

debt financing, I meant to say instead of funds :-)

Zero-sum game was actually not intended to let nationalization appear positive. It is supposed to mean, you cannot rescue excessive debt by excessing debt. Not even believing one is the super smart EU politician, outsmarting markets by leveraging not yet decided upon state-guarantees to appear the x-fold amount of real cash. And it is a zero-sum game AT BEST.

Sun, 10/09/2011 - 19:48 | Link to Comment Atomizer
Atomizer's picture

Let's fuck around with Google algorithm. Wonder how many market indictors we can throw for the loop

China currency bill, due for a vote in the US Senate on Tuesday.

If US Senate currency bill is passed, China threatens to sell all US holdings.

heeheheheee

 

Sun, 10/09/2011 - 19:53 | Link to Comment topcallingtroll
topcallingtroll's picture

I think it may be safe to try to catch a bounce.

I dont think i am compensated for the risk of usa stocks with a dividend yield less than two percent.

Brazil has higher projected growth rates, a pe of 8 and a dividend yield of almost seven prcent.

Buy ewz.

Sun, 10/09/2011 - 20:00 | Link to Comment turbomango
turbomango's picture

RON PAUL for President 2012, He'll get us out of these wars! Stop a World War. Bring back our soldiers, they're suffering! He'll stop the central bankers from central plannning for a global neo-feudalism!

RON PAUL is THE REAL THING!

Sun, 10/09/2011 - 20:00 | Link to Comment winter is coming
winter is coming's picture

I wish all these would just happen... 99.9% of the world is oblivious to it all anyways. Why wait 3-6 months? They may be slightly more informed then. Maybe they want to not only ripping everyone off but for everyone to know they are ripping them off too. Why did I buy BAC and MS december and January puts???? ERRRRRR

Sun, 10/09/2011 - 20:02 | Link to Comment TradingJoe
TradingJoe's picture

Me got faz calls! For the same reason!

Sun, 10/09/2011 - 20:00 | Link to Comment TradingJoe
TradingJoe's picture

Me short! Stay Short! Fuck WS SHILLS, I'LL GET MY POUND OF FLESH IN THE NEXT TWO WEEKS!

Sun, 10/09/2011 - 20:06 | Link to Comment Dailo
Dailo's picture

Is NIKKEI closed or what? Can't get an update?! I assume it went up since the futures got a push up..

Sun, 10/09/2011 - 20:10 | Link to Comment pauhana
pauhana's picture

or what

Sun, 10/09/2011 - 20:13 | Link to Comment Dailo
Dailo's picture

Yes, I can't get the updates? Nikkei Live isn't giving me anything..

Sun, 10/09/2011 - 20:17 | Link to Comment ennuihenry
ennuihenry's picture

Tokyo closed for Health and Sports Day.

 

http://www.tse.or.jp/english/about/calendar.html

 

 

Sun, 10/09/2011 - 20:22 | Link to Comment sabra1
sabra1's picture

so, no more radiation?

Sun, 10/09/2011 - 20:21 | Link to Comment Lady Heather...UNCLE
Lady Heather...UNCLE's picture

...S&P up 10 handles. The present plan of a plan to plan a plan (in existence til next Sunday's meeting between merkel and sarkozy)is BULLISH.

Sun, 10/09/2011 - 20:32 | Link to Comment SheepDog-One
SheepDog-One's picture

Who gives a shit, Sunday nite 'futures' read is the most non-telling thing ever and besides S&P now swings 20 up and down in minutes...wash rinse and bend over bitchez, longs and shorts youre all going to get bled dry.

Sun, 10/09/2011 - 20:25 | Link to Comment i root for that...
i root for that fat jersey governor's picture

it looks like another big short squeeze is coming tomorrow.

Sun, 10/09/2011 - 20:29 | Link to Comment SheepDog-One
SheepDog-One's picture

Right, all 'the shorts' keep lining up to be raped by the FED daily....give me a break no one could be stupid enough to think thats what is actually going on.

Sun, 10/09/2011 - 20:31 | Link to Comment RazorForex
RazorForex's picture

The Euro currency may be in for some more downside action tomorrow. The 1.3400 is now being used as resistance.

http://razorsforex.blogspot.com/2011/10/euro-to-continue-downtrend.html

Sun, 10/09/2011 - 20:35 | Link to Comment Conman
Conman's picture

Seems like support now?

Sun, 10/09/2011 - 20:38 | Link to Comment Nate H
Nate H's picture

thanks to those smart scientists staying up at night to research the 'resistance phenomenon' at 1.34...

Sun, 10/09/2011 - 20:45 | Link to Comment MiningJunkie
MiningJunkie's picture

Why would anyone be short with every CB on the planet in full "Print" mode? New highs for the year coming in commods and gold shares. Molten lead enemas for the shorts.

Sun, 10/09/2011 - 20:48 | Link to Comment SheepDog-One
SheepDog-One's picture

The FED is who is short big time with your money. Enjoy the show.

Sun, 10/09/2011 - 21:02 | Link to Comment Nate H
Nate H's picture

and they are not in'full print mode' lol. 268 trillion in broad aggregate money supply, qe added unloanable assets to commercial banks balance sheet, and 250 billion actually printed.

Only on ZH (a site a quite like - but for the news, not the comment-as-wisdom) is the meme 'full print mode' accepted dogma

Sun, 10/09/2011 - 21:23 | Link to Comment chump666
chump666's picture

The CB's have been printing like madmen since Jan and our markets collapsed in Aug and they are still printing. So,  if the print jobs can't keep markets in a super bid bull run, then the printing might start to be ineffective.  You can see this now, with just rhetoric supporting markets.

How long can that last?  Till the market panics locks in profits and sells.  That could happen any moment, half a week of meltups and then a sell on Friday...that is bearish.  If Aloca comes in weak and it should.  Then you got ride down on this

Sun, 10/09/2011 - 21:04 | Link to Comment alien-IQ
alien-IQ's picture

DOW futures up now up a modest 129 points...WTF???? so I guess Dexia nationalization is good news?

Sun, 10/09/2011 - 21:17 | Link to Comment chump666
chump666's picture

Everything is looking overbought.  

Sun, 10/09/2011 - 21:25 | Link to Comment mynhair
mynhair's picture

EUR bankrupt is bullish.  Go S&P!

Sun, 10/09/2011 - 21:28 | Link to Comment RobotTrader
RobotTrader's picture

 

 

Well, at least gold is being dragged up kicking and screaming with the ES ramp job.

Crude is up, Australia up, might be "Risk On" next week where the Wildebeest Herd piles right back into the same items they dumped en masse last week.

Meanwhile FT is running more "gloom and doom" articles.

http://www.ft.com/intl/cms/s/0/bd7d2ed0-f26e-11e0-824e-00144feab49a.html...

 

 

Sun, 10/09/2011 - 21:33 | Link to Comment Conman
Conman's picture

Wait, what exactly was " dumped en masse last week"?

Sun, 10/09/2011 - 21:41 | Link to Comment buzzsaw99
buzzsaw99's picture

Just buying ahead of earnings imo.

Sun, 10/09/2011 - 23:20 | Link to Comment vincent
vincent's picture

I just heard Batman saved Gotham from doom, so Ben and co. can stand down.

 

Sun, 10/09/2011 - 23:35 | Link to Comment Saxxon
Saxxon's picture

Boys, they will just nationalize the banks one by one.  They will fuck the pensioners, working poor, the unborn, everyone.  Until they are dragged from their limos/offices and shot in the street for selling their own country, their own world.

Until it gets to that point, nothing changes.

Mon, 10/10/2011 - 07:34 | Link to Comment handlingserpents
handlingserpents's picture

14.10.11

[DX]@(5513-5632)

[EURUSD]@1.3681, (S=>10.10-11.10,L=>12.10-14.10)

11.11.11

[SPX]@(1204-1234]

Wed, 11/09/2011 - 12:34 | Link to Comment karmete
karmete's picture

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