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Market Soars Following Latest "China Bails Out Europe" Rumor: Expected Rumor Half Life - 15 Minutes
Update 2: Yes, the FT story that cites unidentified Italian officials, does exist. Link is here
Update: "Further negotiations are likely to take place soon, FT says, citing unidentified Italian officials". Ok seriously, enough with this bullshit, please.
How many times can the idiotic market keep falling for the same old rumor over and over and over again? Yes, for those wondering what caused this epic surge in stocks on massive volume look no further than the following FT headline which is precisely the same as what we have seen every single other "Chinese white knight" time, namely that Italy is in talks with China Investment to buy bonds, assets (it also makes it perfectly clear who the real "IMF" is). That said, this is at least the 4th time that China has "bailed out" Europe in 2011. We give this latest rumor a 15 minute half life.
Idiot robot and momo chaser update, 14 minutes later:
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I just ignore all this shit and stay the course. Keep it simple and go with what is real.
A more likely Chinese rumor: http://azizonomics.com/2011/09/11/china-beats-war-drum-over-taiwan/
And NASDAQ goes green, must.close.green.
Yes, because in 8 days no QE3.
Yet another Ransquawk update: the phantom FT article lives:
http://www.ft.com/intl/cms/s/0/90c4c7f6-dd54-11e0-9dac-00144feabdc0.html?ftcamp=rss#axzz1XjNgGZDW
Here they come, they are buying KSS, PNC, JWN, etc. hand over fist.
Basically, anyone who warned recently is getting the biggest bids.
The appetite for risk and speculation has never been higher, because of zero rates to infinity.
italy sez china's thinking about buying our debt...you should too! tomorrow maybe...please...
italy has only one thing to sell china...bunga bunga in Sardinia...for the WHOLE communist party...
I guess with the China bailout, it's time to be 'rong'.................
To me this is not nearly as insane as PM's dropping due to DOLLAR STRENGTH.
Talk about a friggin JOKE. Sheeeeeesh.
I am telling ya, the entire world has gone nuts, if they think parking cash HERE is safe.
Yet equities hardly effected at all due to dollar strength!
Some huge is about to snap in spectacular fashion real soon here.
That is the problem...they are not Parking.....we do not invest for the long term now like we did 20 years ago.....its a split second trade..or maybe a 6 hour trade....momentum trades..HFT´s ..it has nothing to do with the business..or sales...or profits anymore...its all about in and out...very fast.....but what that means is when "it" happens...and we do not know what "it" is....they will be stuck in or out..and it will crash even worse...just sayin
If those who are 'in' the club knew Bernank was about to gift Wall St with a bunch of free trillions, then they would all have just positioned short and let it slide.
Yet that is NOT happening at all, they are pulling out all the stops to save all drops and TBTF are now at the level of old 'boiler room' tactics cold calling with false rumors to sell their stocks.
Something is VERY rotten here.
I like the action Sheep, got me some more (physical) PMs today and rolled all my short shit into Oct all the while making some serious dough, I don't give a shit about Bella Italia getting a 1/2 hour lift of sorts! Let them close green today and the whole week I couldn't care less because well because the GREAT RESET is UPON U(S)!! There will be so much carrot cake for ALL :)))!
I got some physical metals yesterday, more .308 ammo!
It's okay... let the squids push the market up. Then they won't get any QE3 and we'll REALLY tank next week!
Yippee, a big Chinese money manager actually flew to Milan! That's got to be worth at least 15 S&P points.
seriously, with market volatility where is the CME to raise margins on the dow? ha ha ha
What the hell is going on today? It looks like there are only computers trading and waging one hell of a cyber battle at that.
The frickin charts look like a Himalayan mountain range. Looks like we close green though.
I think we need more days with four or five triple digit swings. Why the hell is oil up 1%? Opec saying demand cratered is bullish for oil?
What a total disaster of a Monday.
I just look at it all as the same crap going on as in 2008, nothing but insanity and inverse correlations, wild markets swings based on rumors, except this time the crash will be way worse. ICBM's launches will probably be the catalyst for the next market drop because these people have absolutely no way out this time..
DOW about to go GREEN !
LOL
Update ...................It's Green, but I have a question, who was selling the Vixx ?
Must not touch 11k, what is needed to take this sick market down?
8 days till Bernank announcement. theyre refusing to let anything but gold fall, the FOMC faceplant will be epic.
This is amazing..now we are positive...all this good news about countries going bankrupt.....and the USA spending another 470 billion....man are we stupid.....gold and silver down...WTF.....and 3 years selling for nothing.....and people or things buying them..Europes too.....
Shorting this market is insane.
And the margin players sell their miners right at the bottom to meet the inevitable margin calls, And then the turn. Never fails. Gamblers all. Why don't they just go to Vegas. At least the ladies are attractive and the drinks free as you lose your money in our bankrupt state. Luv getting rid of the weak holders and day traders. Gives us a solid base for the next leg up if we are correct.
Impossible market to trade, unless you feel like getting wiped out.
No Post of the next fifteen minutes, calling out idiot momo chasers and robot bears as the Dow and the ES turn positive on the day?
Is it me or the Dow following the same rythm as the FSTE 100?? if so ...the dow might close under or breakeven for the day
The market has been "totally" taken over ! (sham)
When does "price discovery" re-discover itself ?
This is fucking Crazy ! Lucky the HFT algo's have no emotions...LOL
It's beyond crazy, this market is more bi-polar than Jim Cramer....FUCKING NUTS....HOW CAN THE HNIC OBAMA NOT SEE THIS SHIT AND DO SOMETHING ABOUT IT?
IT WILL BE WAY WAY WAY TOO LATE TO DO JACK SHIT BY THE TIME THEY FIGURE IT OUT....
oh wait...it's mouring time for 9/11 ALL FUCKING YEAR.
ANDDDDD a huge rip to the upside now.. who are the real idiots today?
'The real idiots'...anyone actually buying it?
And why would they be pulling off such spectacular manipulation right in front of everyones face to save all drops, if Bernank is about to deliver free trillions to Wall St?
Something is VERY wrong here.
Yes that was a reference to people who make their livelihoods in the markets, which taking from the past three years, cannot be any more rigged, making fun of myself and others who attempt to make rational trading decisions in a market that is controlled by the Zionist Central Bankers, who huddle together and decide which market they are going to support and devalue this week... But I'd agree anyone buying (including the Fed) is the 'real idiot'...
"And why would they be pulling off such spectacular manipulation right in front of everyones face to save all drops"?
1. Because they can.
2. Because the TBTF's have much of their 'free' money invested in the markets.
Capitalists love the bailout from the Communists!!! Don't these dumb fucks remember the domino theory???? About 65,000 American GI's died fighting against this very thing. How quickly they forget when money is involved. Fuckers!
its called "manipulation" no market is this irrational
Though I must disclose I am heavily short the DJIA futures for a few weeks now (guess I am one of the idiots)
Shorts, Longs, both had ample opportunities to profit today. I hope you had success
is it me of does this 25 S&P points in a half hour seem a little fucked up???
THIS SHIT DOESNT HAPPEN IN A HEALTHY, REGULAR MARKET....ONLY IN BEAR MARKETS....WHERE DESPERATION IS THE SOUP DU JOUR...(thats soup of the day)
How many times do I have to say this? It's called a market. Shit goes up and down. Shorts always panic before longs causing breathtaking 30 minute rallies that go nowhere after that. This is classic bear market trading action.
Conversely, when a market is bullish, you get breaks that convince you the end is coming [gold lately] but after long stops have been hit there isn't anything left to the decline. Classic bull market trading action.
Granted, the politicos are playing the market, looking to punish speculators like never before [hello Swiss], but they have always done this to one degree or another. Nothing new here really.
They don't make wild swings without reason; unless they are manipulated.
heluva close, brownie!
dec ES looks like it's struggling with the 8/23 close at 1153
ES showed a green candlestick hammer on the bottom of monthly uptrending channel today.
Bulls will be lookin for 1200 and then 1233.
Shorts-good luck & be careful here
Even Faux Business anchors are using words like "Miracle" "Un-believable" "Strange" "Incredible"
You know when these shills are using these types of words, the market "is" In-credible and Un-believable................................
Remember, it's a ZEROSUM exercise. There was a major battle between sellers/buyers . Buyers won at the close today. Market has a propensity to go up, but sometimes goes down.
Greece Default Risk Jumps to 98%
Abigail Moses, On Monday September 12, 2011, 1:34 pm EDTGreece’s chance of default in the next five years has soared to 98 percent as Prime Minister George Papandreou fails to reassure international investors that his country can survive the euro-region crisis.
“Everyone’s pricing in a pretty near-term default and I think it’ll be a hard event,” said Peter Tchir, founder of hedge fund TF Market Advisors in New York. “Clearly this austerity plan is not working.”
http://finance.yahoo.com/news/Greece-Default-Risk-Jumps-to-bloomberg-361...
Ouch!
Major market indices swinging wildly (2-5% in less than an hour) on rumors, hearsay, and sweeping comments by central figures. This is not capitulation, floor building, or strengthening of any kind. This is like watching a bird that’s been hit by a car flapping its broken wing still thinking it will eventually fly again. It’s painful, even when watching from a safe distance. Wait a minute, is that a bus I hear behind m……….
"How many times can the idiotic market keep falling for the same old rumor over and over and over again?"
In a nutshell, this is the forte of D.C. and the Financial elite. Create perceptions. It will be successful as long as there are those that are even slightly more inclined or invested in maintaining the current paradigm. Indeed, it is the same situation, when we believe there is no correlation between a drop in paper PM prices and a 'surprising' rally in the markets. Watch, again, as paper PM prices are 'allowed' to appreciate for a couple of days only to be sold down so as to prop up the market again shortly thereafter.
They were waiting for the ZH article mocking it come out.
The market will rally once Greece defaults. Negative sentiment off the charts, especially for financials.
Last time I looked (about 5 mins before closing) the DOW was up in positive territory..... for quite some time the most knowledgable "Close Observers" have speculated TPTB are often the reason behind an UNBELIEVABLE MANIPULATED RALLY, not unlike today. Yet I would like to step back a bit and ask "Maybe there really is no rally (not with any fiat currency behind it), maybe it's just a manipulated transaction log at the exchange, i.e. faked buy/sell records. For a computer system administrator, with all the privs, this is a pretty simple endevour. It would be a lot easier to fake a rally than to come up with real currency and real risks to implement. And lets remember the stock exchanges are not much more transparent than all the other financial dealings that have happened in recent history. It's technically very easy to do if you know the data structures, can write code, and have the system priviledges..... very easy....
I hear the Chinese are planning on paying off every mortgage in America.
Go long MBS while you still can.
I got fcked in the ass badly on metals today and yesterday, bitches got half of my equity. Whenever I see that JPM logo on TV during various events it makes my blood boil.
What. Just got in, S&P up 26 points in an hour and a half, on a half baked rumour.
This is bullshit hopium.
Never underestimate the resources of a massive criminal enterprise when it is backed up against the wall.
TC. Agreed Got arse raped on Gold today. Cunts.
Still got some decent Oct Gold Calls in on the low value.
Hopefully have the last laugh.
Wow... I'm always AMAZED by Wall Street. Dow, Nasdaq and S&P can soar from -1 % to + 1% in about half an hour just before the closing bell. Geez... In Europe, we don't have that. When it sinks, well... it sinks. Sometimes, it can go up from red to green after 3 pm (Paris time)... but only because everybody was waiting for Wall Street to open. Unfortunately today, all european markets were closed when Wall Street soared. Let's see tomorrow. I'm expecting a nice, green, peaceful (with no volume) day.
Click the link from here to read the article without a subscription to FT:
http://www.google.com/search?aq=f&hl=en&gl=us&tbm=nws&btnmeta_news_searc...
China doesnt have the balls or the credibility to pull out a bazooka.
If they ever did pretend to be the IMF and wave around 100 billion dollars the rest of the financial world would laugh in their face at their collective stupidity and take the other side.
China has no clue how to play savior. They are like the old geezer in the restaurant that has excessive demands, then thinks leaving a couple of quarters is a good tip.
You know who China reminds me of? W.T. Grant. Starting in 1969, they offed a store credit card to every customer, and no one was rejected for any reason. W.T. Grant racked up some very impressive sales and profits, not quite understanding the difference between "money owed to us" and "cash in hand". This ended in 1976 with the then-second-largest bankruptcy in US History.
By monetizing debt, governments can keep this illusion going longer than private companies can, But in the end, China will have exported trillions of dollars worth of real goods, exhausted their workforce, and ruined their environment, with nothing to show for it but a mountain of worthless IOUs.
I want the intervention, the magic wand waving, the endless words that are meaningless, the shell game - TO END. Is this too much to ask?
I heard the news in the car on Bloomberg that the market "soared" on this rumor 1 hour before closing and chuckled.
How dumb do they think we are?
Shanghai: -1.5%
HK: -4.2%
Apparently the chineses do not like very much FT bad joke!