Market Snapshot: What's Left?

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Wed, 09/21/2011 - 16:38 | 1694351 GeneMarchbanks
GeneMarchbanks's picture

We're lookin' good for tomorrow...

Wed, 09/21/2011 - 19:51 | 1695075 max2205
max2205's picture

I am going to learn to speak Japanknees. Could be useful

Wed, 09/21/2011 - 16:40 | 1694357 BrocilyBeef
BrocilyBeef's picture

good times, noodle salad.

Wed, 09/21/2011 - 16:44 | 1694386 WestVillageIdiot
WestVillageIdiot's picture

GS closed at $97.86, just above its new 52-week low.  Morgan Stanley also took out its lows.  I could see Goldman shorting its own shares on this huge ride down and making money.  Morgan Stanley isn't smart enough. 

Great times for the financials.  And yet the water ferries still whisk the Wall Street crooks back and forth across The Hudson.  I hope some of those fuckers lost it all today. 

Wed, 09/21/2011 - 16:48 | 1694401 BrocilyBeef
BrocilyBeef's picture

what does it mean when you lose someone else's money?

Wed, 09/21/2011 - 16:57 | 1694433 WestVillageIdiot
WestVillageIdiot's picture

A sweet gig, while it lasts.

Wed, 09/21/2011 - 18:08 | 1694762 Zero Govt
Zero Govt's picture

not much longer now, every ponzi comes to its grinding grizzly end ...Blankfein, Dimon, Bernanke, couldn't happen to a nicer bunch of cunts

Wed, 09/21/2011 - 20:33 | 1695189 Freddie
Freddie's picture

I would love for all of them and Buffett to be coughing up their feces until they finally shut down to take the dirt nap they deserve.  F**kers.

Wed, 09/21/2011 - 16:40 | 1694358 tawdzilla
tawdzilla's picture

did we run out of vapor yet?

Wed, 09/21/2011 - 16:42 | 1694374 BrocilyBeef
BrocilyBeef's picture

nope, we've got cases left.

Wed, 09/21/2011 - 17:34 | 1694592 tawdzilla
tawdzilla's picture

how 'bout now?

Wed, 09/21/2011 - 17:40 | 1694621 BrocilyBeef
BrocilyBeef's picture

I just checked a few minutes ago but now we're all out!

Wed, 09/21/2011 - 16:40 | 1694360 WestVillageIdiot
WestVillageIdiot's picture

Thank god I didn't pull the trigger on those October 22nd QQQ puts.  I had my finger on the trigger and said, "fuck it.  I'm out."  I don't want back in, even though they would have made me money.  TODAY.  And what about tomorrow and some bullshit announcement?  I lost a lot of money playing these games.  I have learned humility.

And what are these markets going to do without all the pigeons like me that want to short the shit out of it but won't come back in because we've been fucked 1,001 too many times?  Good luck, cocksuckers, you drove your customers away.  Now let's see what you can do. 

Wed, 09/21/2011 - 16:51 | 1694410 Logiclee03
Logiclee03's picture

Quit whining....did you have a plan...a target..a stop loss>>>doesn't sound like it! Buy damn straddles till it breaks the top or bottom and if you are not sure where they are.....I'd suggest you comment in the National Enquirer>>

Wed, 09/21/2011 - 16:59 | 1694437 WestVillageIdiot
WestVillageIdiot's picture

Thank you for that foolproof strategy. Where can I send the check for your consulting fee?

 

 

Wed, 09/21/2011 - 17:15 | 1694508 Panafrican Funk...
Panafrican Funktron Robot's picture

Straddles, wow, that's so fucking foolproof.  /bows before your greatness.

Wed, 09/21/2011 - 18:02 | 1694736 Chappy
Chappy's picture

Good luck with stop losses.  The HFT drive the atock prices down until they bounce off your stop.  I've had that happen in several ETF's and other stocks.  I thought I just had bad luck then I begam to realize the games they play.

 

Wed, 09/21/2011 - 18:47 | 1694904 Nobody For President
Nobody For President's picture

Yep, been there, watched it happen so fast I couldn't even get to the mouse to cancel...60cents down and back up before you could hiccup. Don't much use stops with ETFs any more.

Wed, 09/21/2011 - 21:11 | 1695304 propflow
propflow's picture

straddles.. that easy huh. ? good one. lol

 

 

Wed, 09/21/2011 - 16:57 | 1694429 duo
duo's picture

That's why I used Friday's SPY puts.  Minimum premium.  Doubled my money in 15 minutes.  Premiums ATM were $1.50, instead of $5 for the October's

That being said, the AUD/JPY cross, with almost perfect correlation to ES, says we should be at 1100.  It's not too late to short this.

Wed, 09/21/2011 - 17:00 | 1694447 WestVillageIdiot
WestVillageIdiot's picture

It is for me.  I would rather sleep well at night.  I will hold my reserves until I buy more shiny objects. 

Wed, 09/21/2011 - 17:01 | 1694454 NotApplicable
NotApplicable's picture

Did you miss yesterday's article about trades taking place 190 ms before the quote even existed? I'd say TPTB are far beyond needing actual humans in the 'market' anymore. Even a casino has to have some level of integrity, Wall St. on the other hand, merely needs the SEC to STFU and go back to watching tranny-midget porn.

Wed, 09/21/2011 - 18:29 | 1694845 BlankfeinDiamond
BlankfeinDiamond's picture

I feel your pain.  My fucking QID is finally going somewhere.  I guess I was naive enough to think that the Fed couldn't keep pulling rabbits out of its hat.

Wed, 09/21/2011 - 18:58 | 1694937 YHC-FTSE
YHC-FTSE's picture

@Westvillageidiot +1

Ditto. Only a few days ago I posted that it's a risk on world, and I regret that bitterly. I'm out, but it was easy while it lasted. I'll stick to buying physicals and being a spectator for awhile. It's tempting to envisage a rally tomorrow after such a hard sell today, but I think the article is spot on about the last credit-equity relationship and according to the charts, the sell off has legs. So, interesting days ahead and I get to sleep at night.

Wed, 09/21/2011 - 21:19 | 1695321 propflow
propflow's picture

after what came out from the fed today, your shiny objects have seem to have some downside. be advised

Thu, 09/22/2011 - 06:38 | 1696094 YHC-FTSE
YHC-FTSE's picture

Thanks mate. 

Wed, 09/21/2011 - 19:06 | 1694960 EB1
EB1's picture

The markets are always trying to psyche us out.  Clear your head and jump back in at the right time.   

 

 

Wed, 09/21/2011 - 20:52 | 1695242 Freddie
Freddie's picture

Just buy the f*cking dip.

Wed, 09/21/2011 - 16:40 | 1694362 Caviar Emptor
Caviar Emptor's picture

Whatever "risk-on hard-on" was left is now limp. 

 

Wed, 09/21/2011 - 16:43 | 1694383 BrocilyBeef
BrocilyBeef's picture

wank on, wank off.

Wed, 09/21/2011 - 16:40 | 1694363 Josh Randall
Josh Randall's picture

People in the business are now walking around with The old white elephant -- front pant pockets turned inside out, and the zipper down and c*%k hangin out....thanks Ben

Wed, 09/21/2011 - 16:41 | 1694372 Waffen
Waffen's picture

So Rule 48 tomorrow morning and a benign beginning of the day I presume?

Wed, 09/21/2011 - 16:42 | 1694380 GeneMarchbanks
GeneMarchbanks's picture

Unless you're SocGen;)

Wed, 09/21/2011 - 16:42 | 1694377 Caviar Emptor
Caviar Emptor's picture

The equity market has devolved into a barometer for monetary expansion. 

So they got to trim the sails a little more, but then it'll move sideways until the next time the Fed prints. 

Wed, 09/21/2011 - 16:50 | 1694408 GeneMarchbanks
GeneMarchbanks's picture

I think it's pronounced:   

[ther-mom-i-ter]

Wed, 09/21/2011 - 16:42 | 1694378 DoChenRollingBearing
DoChenRollingBearing's picture

What's left?  Gold...

Wed, 09/21/2011 - 16:47 | 1694396 Shell Game
Shell Game's picture

..and still affordable.

Wed, 09/21/2011 - 16:50 | 1694404 BrocilyBeef
BrocilyBeef's picture

pick one: a) dirt b) silver c) water d) magnesium

Wed, 09/21/2011 - 17:01 | 1694457 WestVillageIdiot
WestVillageIdiot's picture

e) booze

Wed, 09/21/2011 - 17:41 | 1694629 BrocilyBeef
BrocilyBeef's picture

@WVI props! and me wife is bringing home the wine!

Wed, 09/21/2011 - 16:56 | 1694424 jdelano
jdelano's picture

gold miners.  If gold holds they will be the only place to pick up gains.  Watch them rocket once everybody figures that out.  I'm switching all my gld for gdx tomorrow.  

Wed, 09/21/2011 - 16:57 | 1694431 BrocilyBeef
BrocilyBeef's picture

agreed. mutual funds or pick stocks though?

Wed, 09/21/2011 - 17:14 | 1694501 troublesum
troublesum's picture

Seriously.. you haven't learnd a damn thing in the 3 weeks youve been on this site...its called DEFLATION!! (more technically stagflation but its assets that are getting the deflating and commodities that are getting the inflating) is gold an asset or a commodity?  f-ing gold pumpers wont be happy till they lose everyone elses money along with their own...

Wed, 09/21/2011 - 17:37 | 1694608 jdelano
jdelano's picture

Hello Troublesum.  Rough day?  That's too bad and I feel for you, but I don't like being a whipping post so a couple of points in my defense.  I've been reading the tylers regularly for over a year.  Just never felt the need to get involved with commenting until the wheels started to come off this market.  As to your hostility.. 'Methinks you doth protest too much.'  Go back through those three weeks of posts and you will see that my calls have been dead on and as I have been trading off them, I have been having a very good year.  What exactly is it you'd have me learn?  (How to spell "learned"?  I've mastered that one already--keep trying and someday you will too.  I believe in you.)  Am I genius?  Probably not. But I read a lot and can think for myself.  The scenario at the moment is this---flooded M1 in a deteriorating macro environment.  No catalyst at the moment to drive gold wildly higher, yet also too much concern about currencies to drive it much lower.  In other words, not unreasonable to expect that the price of gold will hover close to where it is.  Gold miners have hugely lagged the advances in gold, so much so that the operating increases are negligible and profits will be very impressive.   Hence my call to shift from gld to gdx.   You know it makes sense, otherwise it wouldn't piss you off so much.  Let go of your hate, Luke.       

Wed, 09/21/2011 - 17:40 | 1694625 Alea Iactaest
Alea Iactaest's picture

Did you even read the article? Or better yet, a screen?

 

OIl: Down

Silver: Down

Gold: Down

Copper: Down

Fertilizer: Down

Ags: Down

 

Not sure which commodities are inflating at the moment. Sure seems likely they will in the future, just not right now. So I'm not sure if I'm agreeing with your DEFLATION!! or pointing out that commodities are *not* inflating atm.

Wed, 09/21/2011 - 20:54 | 1695251 Freddie
Freddie's picture

What happened to gold during late into Jerry Ford's term and all through with that co** s***er Carter?   Huge debt hangover from JFK/LBJ's Vietnam War.    Same thing today as Carter but about 20X worse with the Kenyan muslim.

Wed, 09/21/2011 - 21:26 | 1695342 Zgangsta
Zgangsta's picture

But... but... didn't Paul Krugman said that deflation is bullish for gold!?

Wed, 09/21/2011 - 17:17 | 1694522 Panafrican Funk...
Panafrican Funktron Robot's picture

Gold miner stocks.  Key word:  stocks.  They're stocks.  They are not gold.  Ergo, stay the fuck away.

Wed, 09/21/2011 - 17:21 | 1694535 DoChenRollingBearing
DoChenRollingBearing's picture

Miners have other risks:

-- expropriation or higher taxation

-- strikes

-- mismanagemnt (hedging)

Stick to the hard stuff: physical gold!

Wed, 09/21/2011 - 16:44 | 1694389 stateside
stateside's picture

It surprised me a bit that the FED chose to throw stocks off the cliff today.  This was the one area (although with no major support) where people could actually smile a bit when they opened their 401k statements and have a bit of confidence.  They have lost their jobs and the FED can't help and hire anyone.  Their homes are worth less than their mortgage and the FEDS can't increase house prices or demolish homes to spur demand.  The only thing the FED could have done temporarily to save what is left of the US consumer confidence was to print more and save the stock market.  Instead, they chose to let the stock market die and with it any remaining consumer confidence and any chance of the annointed one getting re-elected.  Interesting ........

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