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Market Spike Driven By Latest Bout Of Idiocy Out Of Greece
Wondering why the market just viagra'ed up to green on absolutely nothing? Here is the news from Reuters, with key words underlined:
Greek conservative party leader Antonis Samaras is expected to deliver a letter of commitment to the country's international lenders on Wednesday, a government source said on Tuesday.
"Samaras' letter of commitment is expected to be handed in tomorrow morning," the government official told Reuters on condition of anonymity.
A senior official at the conservative New Democracy party confirmed that Samaras intended to sign the letter. There was no official comment from the party.
So... let's get this straight: Samaras, the guy who has promised will he reneg on the European deal as soon as he becomes PM, is "expected" to agree to the deal he voted for on Sunday..."according to a Grek government source." And who will he supposedly delivery this letter to? The cancelled European meeting? Or to Juncker who said Greece needs to comply with the terms of the first bailout, forget the second one. The same Juncker who said he is uncomfortable with Samaras lack of commitment?
And the end result is a 25 pip move in the EURUSD which undoes a 75 drop in the DJIA?
Sigh.
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PPT making excellent use of tax payer dollars. Obama has an election to win!!!
Ben did a careful analysis and found that the stock market goes up when the economy is growing and down when contracting. Therefore the stock market is clearly the source of economic prosperity in and of itself. By putting money in the pocket of Wall Street, some will ultimately "trickle down" on main street. For instance, some people will gain jobs in the yacht industry or in building mansions for the extremely wealthy:
http://finance.yahoo.com/news/living-very-large.html
"Ben" bless America!
Just when you thought it couldn't get any more dumbtarded...
Hold that thought...robo and MDB haven't posted on this yet.
I think I just discovered what the HFT algo bots do when the market closes, I got 5 new porn spam followers on Twitter at 4:01PM EST!
Your lucky, I only got 1! At least it was a good one... Totaly free access all they wanted was my SSN for age verification! Totaly made my Valentines Day!
I don't know why Samaras didn't just shut up and cross his fingers whilst delivering the "I promise to obey" note.
If they only knew about yer corndog swallowing skillz... :>D
lol
every day is a groundhog day in the US
I hear the tulip bulbs will be beautiful this spring.
The hill country of northwestern Iran should be lovely in a few weeks.
The wild flowers will be out and there there be many good camping spots to layup during the day cleaning your weapons and putting new batts in your night-vision goggles.
It sure will be, they have to kick of this war soon in order to use it to cover up the collapse of the debt system. Also they have reason now because they caught some Iranian man who attempted to bomb something in Thailand but ended up blowing up his apt. and then blowing his legs off when he attempted to use a grenade to blow up a cop car.
More green shoots????
I think that Goldman Sachs has made millions by knowing the timing of the on-again off-again Greek deal and the Greek political party leaders are in the game.
How do I get such info and get 1000/1 odds?
Don't worry Greece is only in a mild recession. See 12 quarters of continuous contraction and -7% GDP is no longer a depression. carney on
Yeah when asked if ZIRP are fair for the nations savers he responds: a bigger pie is better for everyone. Um since when does juicing the stock market create real prosperity? Trying to juice the market with free money after the dot com debacle is what led to the housing crisis. The idea that free money can lead us to prosperity is such bullshit.
Daily hopium...such total bullshit at this point
It seems the bloomberg headlines are rather conflicting. One headline reads!
U.S. Stocks Pare Losses on Greece OptimismThe other one reads!
Greece Struggles to Win Aid PackageWow. At one point they were literally threatening Greece with "take the bailout package or else".
Now it's "we aren't so sure we want to give it to you". Bunch of knot heads. The market is just as retarded.
The initial reason given for the markets dropping was due to US retail data not the situation in Greece.
They don't have any proper answer for why the markets do what they do...so they find something to tout.
like i said here other day, Greece collapse is bullish....fakery fuckery from the Greek Way ie in the EU's and everyone else's rectum straight outta Athens!
Ya the old PPT trick using that Exchange Stabilization Fund.
Oldest one in the books.
Thankfully the Internet has allowed us to learn about the scums dirty little slush fund.
Ps...
Looks like timmy the weasel Geithner gave you a down arrow.
Fuck You timmy....ya little shit.
Bullish
Bullshittish
why dont they just default already and end this farce
why don't they default ? JPM has to make money on daily fluctuations. if the pyramid will start crumbling, the fed, global fin community and supporting banks could lose too much so there is no other way around for them but to keep it up. Seriously, Stalin and Hitler had less control over affairs of their empires. SP is glued to 1350. It's an order.
This will not happen til bullets fly... Germany is playing with the strings of the puppet just enough "and laughing all the while". The laughing behind closed doors "sometimes to public arena's in a bold play of gestures", will stop when BULLETS FLY !!!
Then the contagion will begin, not sure there will be enough coffins for the suicidal bankers.
'Wonder why the market just Viagra'd up to green'?
What, you mean just like every other day?
Financial priapism bitchez...
Yes. Retail sales were off, but never mind that Greece just signed a letter of intent.
They MAY have signed a letter. Then again they were EXPECTED to manage an economy well in the first place.
Actually, it has been confirmed that he intended to sign the letter and then he is expected to deliver it.
"Samaras is expected to deliver a letter of commitment to the country's international lenders on Wednesday, a government source said on Tuesday.
"Samaras' letter of commitment is expected to be handed in tomorrow morning," the government official told Reuters on condition of anonymity.
A senior official at the conservative New Democracy party confirmed that Samaras intended to sign the letter."
I am comforted that "Samaras" is an anagram for "Samsara" which means "to flow on" in Sanskrit.
http://en.wikipedia.org/wiki/Sa%E1%B9%83s%C4%81ra#Etymology_and_origin
Oh and ALSO never mind that we already rallied on this yesterday.
We've rallied 3,000 points on the DJIA on basis of "Greek debt hopes", but when this situation ONCE AGAIN proves not to have been "solved" in, say, 6 months (we'll have an "American crisis" in the meantime no doubt), then the market can start rallying another 2-3,000 points again.
Fucking bullshit. In actual reality what is happening is that the men behind the markets are goosing equities. And bonds. And everything, but THIS TIME IT WON'T CREATE INFLATION (this time is different).
"Expected", "intended", and "promised".
It is, after all, Tuesday: http://gmanfortruth.files.wordpress.com/2011/04/wimpy2.jpg
What a complete joke of a show.
I'm still "expecting" a default and I think the Germans "intend" to tell Greece to piss off. By the way didn't the PSI deadline pass already?
Shhh quiet you, the burning of athens was supposed to distract you from PSI. You better look out for black helicopters talking craziness like that.
The ultimate litigatin question: were you lying then or are you lying now?
What does everyone think... in about half an hour they will announce that Samaras will not deliver the letter to a meeting that is not taking place?
It doesn't matter. Nothing matters. It's all bullshit. Every fucking day it's the same thing. Nothing changes.
When the other shoe drops, it's going to be a bitch. Timing is the only thing.
That's priced in already.
But if the letter IS delivered, then that won't be priced in already, despite us already having rallied into the close.
You mean, the markets would rally on the SAME news twice ?
Unpossible.
They call for a new meeting? That's robot cat nip.
Just think, only 2 months ago it took rumors of huge 'QE3' gifts of free money to pump stocks....now all it takes is a mere mention of some 'letter' or other? What will goose markets next week, rumor of Bernank getting a beard trim?
Everything in this whole process is put off until tomorrow, next week or next month...........it's nothing more than a scam to keep the game going....but time has run out and only stupid algo's now trade on such nonsense. Keying on words or phrases........the alogo's (and the exchanges that enable them) are completely corrupted in there manipulation of the markets.........volume is drying up and it won't be long before they only have firms full of idiots trading on black boxes with lunatic exchanges...........
The Ultimate Ponzi..
Promise them anything to get the cash! You can always default later.
Tyler, what do you expect to happen..??
If the news is not bad, then it must be good, right..??
Most investors don't read ZH.
There are no investors left. Forget about it!
There never were very many "investors" just a bunch of gambling addicted Americans who came back to the trough one too many times.
There are no investors left
You don't own any physical PM, do you?
I don't consider converting fiat to gold an investment. It's more like collecting and preparing for the day when fiat is worth less and soon worthless. When I invest, I buy livestock and raise it. Then sell it at profit. Or I invest into land, seeds and labor. The result is usually profitable. Occasionaly I would invest into a venture and take a share if it makes sense. There's no investing on Wall Street anymore. It's gambling at best, self inflicted torture (masochism) at worst. Granted their have been exceptions. But I couldn't put my good money into the AAPL pool and sleep well at nights. I admit that I don't understand enough about AAPL and why there stock is flying so high. They seem to have alot of cash. Don't care though to be honest. Investing in cattle has given me plenty good returns. And you can eat them too! They didn't worship a golden calf for nothing!
let the junking rout commense...
I think Slinger will be the one ending his day -61 in the hole. You know.. like today should have.
Here is a video from the last house party with Slinger, Happy V-Day buddy! had a blast!
NOT OFFICE FRIENDLY
http://www.youtube.com/watch?v=QcIxhG39iQo
AAPL basically hit 510 so all is ok in the world. Keep on keeping on.
Europe is broke... there is an app for that
Oh, this is fertile ground:
iDefault
iRiot
iWon'tRolloverAndTakeOneForGermany
the list goes on!
.
F'ing Horseshit...period.
A Greek LOI makes up for this roundtrip on the markets?
HAHA.
You gotta know how to play it.
Next up, meeting in Greece on Feb. 20th.
Who wants to make a bet?
He's going to cross his fingers while he signs it so it doesn't count.
oops, missed the spike.
Damn those rumors are working cute.
"told Reuters on condition of anonymity."
fuck they should be procecuted for breaking NDSA
Where is Steve Jobs when we need him?
At this point is it safe to say that a duck fart in Greece will cause a market spike in the U.S.? Chaos theory.
More like a goat fart ...
I called it.. Rip to the upside after the problem is "solved". Waht a sham market. I will be telling my grandkids about this, open market manipulation and no one does anything about it.
if no one participates, does it matter?
This is a Hollywood market. Fun to watch but reality hits you right after you leave the theatre.
Sorry, the grand kids wont make it to be told tales of these times.
wow breaking news at 11:00pm in Greek time
In Greece people are just getting back from dinner at 11:00pm and they never discuss business over dinner.
dow gonna break 13k before this ridiculousness is over.
Dow 15,000 S&P 1,750 and no money on the street. Just bankers stuffing their pocket's with LTRO. Just my opinion.
The DJIA could go to 33,000 and it still wouldn't matter. What Bernanke doesn't understand, is the further it goes, the more ridiculous it looks, because it was never built on legitimacy.
Man...it is just painful to watch. There is simply no market integrity or credibility left...at all.
Show me the bankers and brokers that were actively trading the close today, and I'll show you a criminal perp lineup.
+100 Cdad.
there used to be a thing called painting the tape and it was illegal.
although I admit I bopught near when they are talking about because it was at the bottom of the descending channel the market almost always robs you blind when you stop out the day before, they trigger sells then buy. frustraating to say the least. plus we were at bottom of tbt channel.
Welllll, let's see:
1. Paulsin dumps all his Citigroup and BAC
2. Paulsin dumps big chunk of SPDR Gold Trust.
3. Buffart snorts up almost 8% of WFC.
Hmmmmmmm,
(Granted, they did this 4Q, but didn't show up til SEC filing.)
There is no way to put a humorous twist on the travesty that the contemptuous fraud formerly known as the market has become.
The only way out is out.. of all their games.
Its just a damn shame...and it hasnt even begun to sink into the cheerleaders heads yet that markets are completely ruined, forever. As long as its green today, thats all that matters to all whores.
I meant to say contemptible fraud, although the market is fraudulant and contemptuous of us.
I guess this is the front line of the loss of confidence.
They have no clue to what they have started.
also, i wonder at what exactly time did reuters got the news? were they holding it?
I am...
Just..
Out of words.
20% of the days Dow volume in the last thirty seconds. Why doesn't anyone report on this?
that would require actual journalism. all good journalists get fired from main stream media outlets. look at what just happened to Andrew Napolitano
I know! And that report didn't even really need any investigation, just a pair of eyes!
During times of universal deceit, telling the truth becomes a revolutionary act.
The DOW & NASDAQ are FUCKING GREEN!
!@#$^%!^!$#%#^$#@$%21#$!@#^%!#$!@^!&!&@#$!@#$!@#%!@#$!@#$!@#^%!@^!@#$!@#$!@^%!@#$
Oh it will be reported on:
That is all the sheep need to hear when they drive home.
pods
Alas, the pods is right.
and all that volume likely came from a single source.
A LETTER???? WE ARE SAVED!!!!!!
An EXPECTED letter. Let's not get ahead of ourselves.
Assuming the Greeks can find any paper ....
Euro bills right?
and ink
Can I have a "G" please, Pat? Then I'd like to buy a vowel.
Ok, The markets up. Now go home and get laid. Its valentines day
OMG, are we back to the PPT MOMO's reading positive implying adjectives in press releases again to pump the market to keep it from melting down 3k-4k points in a week or less? Binkey Bennie and PPT buds: You are eventually going to run out of manipulative funding, back door trickery and the house of cards will come crashing down on top of your shiny head!
PS: Don't forget that the DOW is at record LOW short selling interest levels too
ok the last 15 minutes was a fucking joke!
Kleptocracy:"rule by thieves" is a form of political and government corruption where the government exists to increase the personal wealth and political power of its officials and the ruling class at the expense of the wider population, often without pretense of honest service.No outside oversight is possible, due to the ability of the kleptocrats to personally control both the supply of public funds and the means of determining their disbursal
Yep! It was.
http://www.youtube.com/watch?v=ceUPN1yE1iM&list=FLzJ-ohymT5cwadxyd-y8XdQ&index=4&feature=plpp_video
I hear it's the national opposite day holiday!
I love life and these free markets!
Oh it's just valentines?
Fuck
according to the peter principle, too much viagra will eventually lead to a massive heart attack ack ack ack ack...
I foolishly thought that we were through with that type of shit, but that was the most ridiculous in memory.
I smell fear.
I do as well. I think their buying time to exit their longs. Sure did look like ES was about to roll over..
Surprising since mostly the strongest objections to the Greek deal come directly from the bond holders who are mostly long US treasuries and have no real exposure to Greece. This horse is literally flogged mercilessy to death ONE MORE TIME!
CNBC just reported...NOT that he INTENDS to sign off...they said HE HAS AGREED?????More Fudging by the Wall Street Backed Media!!
American stock market traders - your one true source for understanding Greek politics.
sometimes you just have to sit back and marvel at the efficiency and ease with which this market is manipulated.
No doubt the /ES will be fully green by the 4:15 close.
just...fuckin....amazing.
I chuckled when the Dow went green at 3 fucking 59!
I cried.
Samaras, the current front-runner to replace Lucas Papademos, told parliament last night: "I ask you to vote in favour of the new loan agreement today and to have the ability to negotiate and change the current policy which has been forced on us".
Samaras hasn't been told that the letter also needs to be signed by by all four of his grandparents - Juncker needs him to prove his commitment...
WHO is his INTENDED audience for this request? Not traders, not the Germans.
Why does anyone care about Greece anyway? I thought that was settled a few days ago... They're going to be indentured servants for the next twenty years. Problem solved.
Damn that 1350 on the S&P is a tough nut to crack. Uncle Benny needs to get to printing.
LOL, announcements come right before the market closes. Keep those annoucements coming right before the close on down markets. A real nice trade if it keeps coming.
The market has been manipulated for some time. Bernake and Obama cannot let this market go down too far before the election. It's a given.
I leave for 10 minutes, come back and we are green? Why am I not surprised. This is one treacherous market folks. Wipes out bulls and bears. Confetti feels good from this perch.
How can you trade or invest when the market moves on every lie emanating from the mouths of criminals.
I don't know buddy. I was watching the Fiber when it occured about to set pending orders on key areas then this happened. Messed up my plan of attack. Now i may have to sit on the sidelines waiting to see how this plays out. Might get a whole lot of consolidation with this fiasco. So be prepared for it to be ugly unless Uncle Ben and co keep waving their magic wand for the week and keeps pumping the MSM with rumors.
Who's on first?
What does this have to do with Whitney Houston?
Yes, but look at it this way: what doesn't it have to do with Whitney Houston? It's bullish, is all we need to know.
Indeed.
What's chocolate and in a box, and just in time for Valentines Day?
W.H.
I know, that's real taseless.. but funny!
WOW and WTF!!!! All we can say with this B.S. move.
Reminds me of what happens when a cow coughs when its shitting. --- She can blast it a good thirty feet. --- That's why everyone sold their short and inverse bets at the end of the day. They didn't want to spend the night behind a sick cow.
Why are there so many liars in Eurpoe and yet the market everytime believe them?
The markets don't believe them, it's just that it provides the little kick that the algos need to begin a positive feedback loop that begins a big self supporting short squeeze. Right now most short positions are weak, meaning that they will be covered at the slightest sign of an upturn. It is yet another unintended consequence of the Fed manipulating the market.
10,700,000 contracts on XLF on this news..... Ya right The TBTF prop desk are getting pulled and the Jamie is pissing off Volker saying he does not understand capital markets...... Jamie for a guy with 200 TRILLION plus in cds and Swaps the helicopter is not going to survive and the Krugman not enough Keyanisans hyjacking of markets and trading systems will bring Greek street results.
tommorows 4 o'clock rumor is Whitney Houston rises from the grave and buys an ipad.
AAPL is the China employment act.. heck we need China to pay for our ships in the straights and sell drones to Iran... This is the second Valitines day masacare
Samaras and any other EU approved politicians need to the right thing and step down from power.
Expecting is just another, better Scrabble word than Hope
Expecting is just another, better Scrabble word than Hope
Every fart from a EU/Greek politician is worth 10 points up in the Dow. As long as they are farting everything is fine.
i was actually having a laugh with a client just before that happened saying that it would be no suprise if it closes around 1350. what a piece of sh*t. you know as it broke those intraday lows i thought - wow is this market actually normal? alas within 20 minutes we had a straight line squeeze on exclusive reuters news. i think i will be retiring this week...
latest rumor.
Goldmanites send an black ops group ( same people who got Bin Laden) to Samaras
Operation was quick and twisted. Before he could open his eyes the letter was already magicly signed by him.
Tough we did lose some money on the direct flight on the way to his house but it's fully justified by the market spike and recovering few hundred billions in the last few min.
Honorable G.Corzine and Stamper
Listen, there is no way that people, actual human beings, are trading like this, on this news. Strictly robots.
Not sure.. someone had to pull the levers.
The intention to close green was not a robot's intention. That was clearly human.
The trading firms program the black boxes accordingly.
Things had turned down in the stock market for most of the day, but when wall sleeze found out the Greeks might be coming closer to being slaves to the bankers, they simply loved it. Evil Mo Fos
String it out as long as they can. That us all they have left. How do the markets not realize they are well beyond the prop up job of Lehman at this point.
Far, far beyond Lehman.
Why fight this - you will be absorbed into the greater organism. We will look after you. Individualism has no place in the greater EU. Sign up - tune out - emotions are over rated and not logical....
Getting another bailout is not going to resurrect the economy in Greece. Greece is overwhelminghly a service-sector economy, and their unemployment level will remain high for a long time. This pathetic can-kicking process is being orchestrated by non-value-added bureaucrats.
100% FUBAR.
Uber bullish.... HOW COME NOBODY IS TALKING ABOUT GREEK GDP COMING AT -7% TODAY AGAINST -4% FORECAST??? ISN T THIS FORECAST WHAT THE TROIKA IS BASING ITS NUMBERS ON FOR DEFICIT CALCULATIONS?????.....
Missing estimates is bullish!
Thank God for that letter of commitment. I thought the unmanipulated market ws going to end in Red today.
It really amazes me how a piss ant country with a GDP of $250 billion can wreak such havoc on the rest of the world. Who are these genius' we have gaming, I mean running, the banking business?
Directly link that leveraged GDP to JPM's balance sheet leverage of 41 to 1 and we are talking about $10,025,000,000,000 Bennybucks.
Starts adding up..........quick!
Levered &
Re-levered &
Re-levered &
Re-levered &
Bacon strips
If a tree is expected to fall in the forest and there is nobody around to hear it, is it expected to still make a sound?
Wait... what?
Murray Rothbard:
"You cannot create money by printing it."
http://www.amazon.com/Mystery-Banking-Murray-N-Rothbard/dp/1933550287
I'm not too worried about the Greek thing. I heard rumors, "a deal is near."