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Market Summary: FOMC Snoozer Followed By Premature Exuberation

Tyler Durden's picture


As gold loses its 200DMA once again (along with Silver weakness) as the USD rallied post FOMC and stocks were starting to limp lower, Jamie saved the day and the stock market had that most embarrassing of affliction - premature exuberation. While it seemed to have come as a shock to some that banks passed the stress test, the market's reaction (given only recently markets were worrying over NIMs, trading revenues, and real estate) was incredulous. The US majors were all up 6-7% (apart from Morgan Stanley which managed a measly 3.8% on the day!). With XLF now up more than 37% from its Oct11 lows, financials remain the major outperformers in this rally and we note that credit markets are missing the fun - the last time JPM stock was here, its CDS was trading 25bps tighter. Credit and equity moved in sync and tore higher on the JPM news. Gold (and Silver) which had been falling managed a decent bounce into the close while the USD closed at its highs post FOMC as did Treasury yields as for the first time since the 2011 bubble popped, the NASDAQ closed above 3000 (thanks in large part to AAPL's 3% rally over $568).

US Major financials post FOMC (red arrow) and post JPM (green arrow)...


and Commodities suffered further (but did bounce notably into the close)...

As stocks and credit resynced in a rip higher on JPM (green vertical arrow) after leaking off after FOMC (red vertical arrow)...


In other news, there is a rumor floating around that just to prove how healthy the banks really are, Jamie Dimon has told his Fed subordinates to return Mark to Market accounting, which has been dead for nearly 4 years.


What's that?

Sorry... Rumor denied.

All is well though - apart from the fact that the credit market in financials does not seem as prematurely exuberant as stocks (yet)...



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Tue, 03/13/2012 - 16:20 | 2251694 Jake88
Jake88's picture

Not too cryptic

Tue, 03/13/2012 - 16:31 | 2251755 Manthong
Manthong's picture

Strategically placed "stress tests" as stealth "policy".

Who'd a thunk it?


Tue, 03/13/2012 - 16:21 | 2251695 Boilermaker
Boilermaker's picture


Tue, 03/13/2012 - 16:21 | 2251696 GeneMarchbanks
GeneMarchbanks's picture

Dimon is beyond insane.

Tue, 03/13/2012 - 16:25 | 2251709 Atomizer
Atomizer's picture

Interesting, Skank of America had the best spike.

Correction: 2nd best spike. Eyes are getting tired :(

Tue, 03/13/2012 - 16:23 | 2251710 Id fight Gandhi
Id fight Gandhi's picture

Everyone just programmed to buy anyway.

Tue, 03/13/2012 - 16:38 | 2251783 Implicit simplicit
Implicit simplicit's picture

The real reason for the mule jacked- off  high:

In a surprise joint effort decision by the Federal Goverment and the  Federal Reserve, it was announced that all the millions of people on food stamps can now use their cards to buy stocks. In addition, the millions that have dropped out of the work force can now have jobs as Federal stock brokers that will take over empty Post Office space.

Tue, 03/13/2012 - 16:23 | 2251711 tickhound
tickhound's picture

Marking to Market is a barbaric tool used by subversives to undermine healthy economies. 

Tue, 03/13/2012 - 17:17 | 2251946 Silver Pullet
Silver Pullet's picture

You tell 'em, MDB!

Tue, 03/13/2012 - 16:23 | 2251713 Yen Cross
Yen Cross's picture

    .l.'''    Pop off top!

Tue, 03/13/2012 - 16:24 | 2251717 Dr. Engali
Dr. Engali's picture

Stocks limping lower? What fucking market were you watching. All I saw was Ben hand me my short position on a fucking stick.

Tue, 03/13/2012 - 16:28 | 2251745 Yen Cross
Yen Cross's picture

Snap that stick in 1/2 and share it with your neighbor!

Tue, 03/13/2012 - 16:48 | 2251824 SheepDog-One
SheepDog-One's picture

Stocks limped lower when today....fell a bit from DOW +120 down to +100, where it then shot up another +100? 

Only 5 more trading todays like today and all stock markets are well above their all-time full retard record highs.

Tue, 03/13/2012 - 18:46 | 2252148 Town Crier
Town Crier's picture

It's like playing chess with an opponent who can make his own pieces, as many as he wants.

Wed, 03/14/2012 - 01:33 | 2253104 Orly
Orly's picture

Yes it is.

Tue, 03/13/2012 - 16:24 | 2251719 Bastiat009
Bastiat009's picture

Three days ago, the world witnessed a major sovereign debt default, which I was told would be the end of the world.

Tue, 03/13/2012 - 16:28 | 2251739 SheepDog-One
SheepDog-One's picture

In reality, never any better news than 'Greek default', equities up over 4% since then. The next time someone tells me that a country is in danger of defaulting and that will be a 'major catastrophic event', I'll just laugh in their face.

Tue, 03/13/2012 - 16:42 | 2251795 Dr. Engali
Dr. Engali's picture

But did Greece really default ?That is the question. It seems to me the bankers made out pretty well in that deal.

Tue, 03/13/2012 - 16:46 | 2251807 SheepDog-One
SheepDog-One's picture

Well yea like I said the next time Im presented with great worry over some impending financial default, I'll just laugh in the face of whoever is saying it!

Tue, 03/13/2012 - 16:54 | 2251856 espirit
espirit's picture

Like 4 banks undercapitalized?

Bullish beyond belief!


Tue, 03/13/2012 - 16:24 | 2251720 nobusiness
nobusiness's picture

Jamie's Buddies in the S&P 500 pit must be pissed.  Doesn't he know all good news must be released after hours so only the pro's can participate in the ramp up.  The etraders are supposed to provide the exit in the morning.

Tue, 03/13/2012 - 16:25 | 2251721 Boilermaker
Boilermaker's picture

BAC, MS, C, BBT, JPM...all PASS a RUN FOR THE BOMB SHELTER 'stress test'...

OK, I give the fuck up.

Tue, 03/13/2012 - 16:28 | 2251740 LawsofPhysics
LawsofPhysics's picture

I gave up long ago and placed some bets on the devils I know.  Now I will thank the devil for those profits and be happy, not greedy.

Tue, 03/13/2012 - 16:28 | 2251744 Atomizer
Atomizer's picture

In the near future, if the banking misfits ask for another bailout-- We can tell them to get bent.

Tue, 03/13/2012 - 16:36 | 2251780 Boilermaker
Boilermaker's picture


Tue, 03/13/2012 - 16:46 | 2251814 dwdollar
dwdollar's picture

Someone will be bending over... yet again... but it won't be the bankers.

Tue, 03/13/2012 - 16:26 | 2251724 hmn
hmn's picture

Will anyone FAIL the stress tests?  Aren't they therefore irrelevant?

Tue, 03/13/2012 - 16:27 | 2251735 Boilermaker
Boilermaker's picture

LOL...yea, sure.  You had better wake the fuck up.

Tue, 03/13/2012 - 16:26 | 2251726 SheepDog-One
SheepDog-One's picture

Apple bullshit now up $100 every week average? This is just full retard, I wouldnt touch any of it with money I found lying in a ditch.

Tue, 03/13/2012 - 16:26 | 2251729 Cursive
Cursive's picture

Who says this is not a rigged casino?

Tue, 03/13/2012 - 16:26 | 2251731 rsnoble
rsnoble's picture

More like premature ejaculation. What a fucking joke.  If today didn't scare the last of the shorts away I don't know what would.  Like I said before they'll  have half the population in tent city at DOW 36k lmao.  I'm curious if we'll have a fed reversal tommorow however I won't be shorting as everytime this market loses ground you get your ass smoked the next day.  Someone on gave me shit about not having balls when I told them I wasn't shorting 1000 points ago, how did that neuterization work out for ya?  Be me guest.

Tue, 03/13/2012 - 16:36 | 2251779 gmrpeabody
gmrpeabody's picture

Ya..., I got the same treatment. Now what was his name....

Oh well.

Tue, 03/13/2012 - 16:26 | 2251732 Implicit simplicit
Implicit simplicit's picture

The stock market capitulated early on just a hand job from the FED. Wall street is immature.

Tue, 03/13/2012 - 16:27 | 2251734 devo
devo's picture

Due to election, this year will be good for stocks, bad for PMs. Next year reversed.

Stocks risky at these prices given oil issues and credit/FED propped profits. I'd do neither and keep powder dry.

Tue, 03/13/2012 - 16:28 | 2251742 lsbumblebee
lsbumblebee's picture

I guess gold was back to being a safe haven asset today. I think I'll buy this dip and hope that tomorrow it will be a risk asset again.

Tue, 03/13/2012 - 16:28 | 2251747 Boilermaker
Boilermaker's picture

US Bank passes...

LMFAO....Like handing out trophies to everyone at the special olympics.  Everyone's a winner.  Everyone.

Tue, 03/13/2012 - 17:26 | 2251979 Yen Cross
Yen Cross's picture

 South Park is awesome! +1 for Boiler Maker ( bourbon in a shot glass) full of beer, at a Perdu/ Ohio State game!

Tue, 03/13/2012 - 18:16 | 2252086 Atomizer
Atomizer's picture

Special olympic banking awards ceremony 


LOL - needed a good laugh 

Tue, 03/13/2012 - 16:29 | 2251748 monopoly
monopoly's picture

Marketwatch has this headline:

NASDAQ RETAKES 3,000 for the first time in 11 years.

To me this has taken 11 years to get back to 3,000 in the Nasdeq. How those tech stocks working for the long haul? Amazing how the media twists everything.

Nothing has changed. And markets move in strange ways. I have not changed course in years and it is working out just fine here.

Tue, 03/13/2012 - 16:43 | 2251799 SheepDog-One
SheepDog-One's picture

To me it reads- 'Markets now manipulated back to previous ridiculous bubble top now what are we gonna do?'

Tue, 03/13/2012 - 16:29 | 2251750 toros
toros's picture

Is this the crash everyone has been talking about?

Tue, 03/13/2012 - 16:40 | 2251789 Implicit simplicit
Implicit simplicit's picture

Yes. Just stand on your head.

Tue, 03/13/2012 - 16:30 | 2251752 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

...shock and awe...just wow

Tue, 03/13/2012 - 16:33 | 2251764 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

...a week ago the market visited 1340...a week ago!! 56 points in 6 trading days...unfucking believable!

Tue, 03/13/2012 - 16:35 | 2251772 SheepDog-One
SheepDog-One's picture

And during that week, the 'unthinkable event' happened too Greek default! Actually turns out defaulted nations are GREAT news for markets!

Can you believe how everyone was SUCKERED big time over that fraud?

Tue, 03/13/2012 - 16:33 | 2251767 monopoly
monopoly's picture

LOOK at C.....

Tue, 03/13/2012 - 16:33 | 2251768 SheepDog-One
SheepDog-One's picture

So whats in store for tomorrows open then, at least +100 on the DOW? That puts us within a measely few hundred DOW points of all-time record bubble top a recession.

Something real shitty is about to happen, you can feel the way the shit clings to the air.

I dont like this particular matrix at all, I want out fuck this.

Tue, 03/13/2012 - 16:35 | 2251771 Boilermaker
Boilermaker's picture

4 banks fail (or as CNBC say...didn't necessarily pass) the 'stress test'.

The rest will still have actual 5% capital ratios AFTER a halved stock market, 13% unemployment, AND a 12% drop in home prices., you can't make this shit up.  Funny stuff.

UPDATE:  C, STI, ALLY, and MET fail...LOL, right.  Penalty:  can't raise dividend.


Tue, 03/13/2012 - 16:46 | 2251812 Everybodys All ...
Everybodys All American's picture

Yeah, I would love to see how in the hell they simulate that ... complete bs.

Tue, 03/13/2012 - 16:36 | 2251777 Piranhanoia
Piranhanoia's picture

Premature Exuberation can be treated effectively by using the same technique that you use to survive listening to the Fed, or other fictional statement.  For guys,  just bang your dazzler on the toilet seat for long enough to get it mostly numb,  for you ladies,  you might ride an icicle.   It will give you time to rethink any sudden decision to believe what such a talking head might tell you to assist your losing everything you have.

This is a public service announcment.

Tue, 03/13/2012 - 17:17 | 2251951 Village Smithy
Village Smithy's picture

You should have warned me to put down my drink first. Nicely put, only laugh I had all day. Thanks.

Tue, 03/13/2012 - 20:42 | 2252502 bluebare
bluebare's picture

Or you could just think of Blythe Masters.

Tue, 03/13/2012 - 16:37 | 2251781 bobola
bobola's picture

For a bank to pass a stress test, you need a big queue of folks all wanting to empty their accounts, and have it widely reported in the news.

Think Blackrock a few years ago.

That's a proper stress test.

Tue, 03/13/2012 - 16:38 | 2251784 Yen Cross
Yen Cross's picture

I'm going to fade usd/jpy into Europe.

Tue, 03/13/2012 - 16:38 | 2251786 LookingWithAmazement
LookingWithAmazement's picture

Is that Total Collapse gonna come anytime soon? Or can all the fearmongers delete their blogs?

Tue, 03/13/2012 - 16:41 | 2251791 SheepDog-One
SheepDog-One's picture

Why dont you go polish your Apple there fuktard?

Tue, 03/13/2012 - 16:52 | 2251843 adr
adr's picture

They are all trotting out the iTV rumors again. Everyone is going to rush to dispose their 55" Samsung to buy a new Apple TV that costs three times as much and actually has less features.

Oh yeah and somehow Apple is going to kill off the entire cable industry, sattelite TV, and Netflix with the iTV as well.

Meanwhile Apple will go on and on not actually making a single product. Why not value a marketing company at $550 billion.

The biggest supplier of parts for the iPad is Samsung. If Samsung actually makes the parts for the iPad and it is built by Foxconn, why aren't those two corporations valued higher than Apple?

If Apple is so great, why can't they actually manufacture products on their own?

Apple is such a fucking joke. As big of a joke as Steve Jobs "genius".

Tue, 03/13/2012 - 18:20 | 2252090 Yen Cross
Yen Cross's picture

I like that portfolio management you discussed [ADR}.

Tue, 03/13/2012 - 17:05 | 2251906 LookingWithAmazement
LookingWithAmazement's picture

Is that Total Collapse gonna come anytime soon? Or can all the fearmongers delete their blogs?

BTW: Apple is a hype.

Tue, 03/13/2012 - 17:17 | 2251948 fuu
fuu's picture

"BTW: Apple is a hype."

As are you.

Tue, 03/13/2012 - 17:54 | 2252040 LookingWithAmazement
LookingWithAmazement's picture

Crisis is over. Obama landslide 2012. Told you so.

Tue, 03/13/2012 - 17:18 | 2251955 Piranhanoia
Piranhanoia's picture

The only thing for certain is that it will come suddenly.  No surprise, just sudden.

Tue, 03/13/2012 - 18:05 | 2252062 LookingWithAmazement
LookingWithAmazement's picture

Certain? I doubt it. Look at the Dow Jones. Crisismode?

Tue, 03/13/2012 - 16:38 | 2251787 Pitchman
Pitchman's picture

Premature exuberation is followed by a one day decline in the market!


MSM vs. WWW: Truth & Justice Is The Only Side To A Story

The Road To Damascus Is Paved With Lies  
WAR PIGS: Carlyle Group's Lopsided IPO That No One Cares About  
Warren Buffett: The Paradigm Puppet - Who Is Worse; The Criminals Or The Men Who Enable The Criminals?
Tue, 03/13/2012 - 16:38 | 2251788 Ted Baker
Ted Baker's picture



Tue, 03/13/2012 - 16:44 | 2251803 Yen Cross
Yen Cross's picture

Cosign = Infinity

Tue, 03/13/2012 - 16:46 | 2251808 adr
adr's picture

Natural gas futures jumped $.10 on the news after falling all day.


This fucking casino. Nothing matters anymore other than who gets free dollars to pump whatever they want.

I thought dollar strength was bad news for all commodities. Funny how they trot out the weaker dollar argument when commodities are rising but never when it goes the other way. Dollar rising and commodities rising is just strength in the market. Look at the action in corn today, unbelievable.

Tue, 03/13/2012 - 16:49 | 2251834 SheepDog-One
SheepDog-One's picture

Dollar strength also used to mean equities lower all just rise 2% or so daily.

Tue, 03/13/2012 - 17:31 | 2251992 HungrySeagull
HungrySeagull's picture

Israel and Cyprus have discovered two mutually NatGas Fields below the Med. Already it has been recognized by law of the sea to belong to Israel and Cyprus.

They have been working together on this for a while. Estimates indicate there is enough Nat Gas there to put the entire oil business out of work for Israel and turn both Nations into a net exporter of Natgas to China and others.

Indeed if proven large enough, we may dispose of our SPR and just import the stuff.

Tue, 03/13/2012 - 16:54 | 2251858 rsnoble
rsnoble's picture

You guys watch whenever the elusive top(remember that word?) comes how the news will change on a dime.  I think we're close, but no one will really know till it happens.  The idea of this market to keep rising till the elections is absurd.  I can't really put a finger on it though all I can say is that most of us know what's really going on and it's a fucking mess.

Tue, 03/13/2012 - 16:59 | 2251880 Yen Cross
Yen Cross's picture

 I can smell the exuberance. The skunk under my " Guest House", reminds me regularly!

Tue, 03/13/2012 - 17:13 | 2251897 slewie the pi-rat
slewie the pi-rat's picture

tyler opens w/ gold & silver, here, but how about a chart showing the gold and platinum prices over, say 1 year on a weekly candle and the daily silver price pasted across theBeauty

what would we see?

gold and plat prices doing the "sewing machine" and gold increaseing to a (record?) spread price over plat, until today, with gold now  1674 and plat 1689 a huge 2+ -day reversal, in itself

these headlines copy as links, but just to the same basic info:

  1. DJ London PM Platinum Fixing: $1655.00 per oz (Prev. PM $1634.00)
  2. DJ London AM Platinum Fixing: $1661.00 per oz (Prev. AM $1644.00)
  3. DJ London AM Platinum Fixing: $1684.00 per oz (Prev. AM $1661.00)
  4. DJ London PM Platinum Fixing: $1687.00 per oz (Prev. PM $1655.00)
  5. DJ London PM Platinum Fixing: $1691.00 per oz (Prev. PM $1687.00)

[#1 is from friday, march 9, 10:41 AM eastCoast time and # 5 is fron the comparable time, today] {if you have followed gold, it was about 1712 last friday's close}

big, fast swing, here, sportsfanz!  it's outa here!

Tue, 03/13/2012 - 17:30 | 2251989 Yen Cross
Yen Cross's picture

Do you believe the Febuary Auto sales numbers Slewie? Your platinum spreads are in those figures.

  Catalysts and Platinum, go hand in hand.

Tue, 03/13/2012 - 18:23 | 2252096 slewie the pi-rat
slewie the pi-rat's picture

yeah, adjusted for channel-stuffing & chinese data

but the platinum was put in those converters earlier, and purchased even ealier than fab'd

so i don't attribute this to industrial demand thru the crimex & londonBullionBullies not looking at crimex plat vols/inventory (samePaperAlchemy)

these are 50 toz contract, gold is 100;  if you want to see a metals price spread go bingo!  this is it, imo


Tue, 03/13/2012 - 18:27 | 2252106 Yen Cross
Yen Cross's picture

Ok Slewie. I'll trade your call. I trust you.  Even if you're wrong, I still like you, and your family!

Tue, 03/13/2012 - 18:47 | 2252151 slewie the pi-rat
slewie the pi-rat's picture

what i'm saying is:: it is over

gold went from +100 to -23 right now, per ounce against plat in a very short time after that spread got out to $100 premium over plat for gold

this is more "traditional" with P on top, price-wize

i watch these prices so that's what they've been doing

what they'll do next is anybody's guess

might depend on a lot of things, but as of today, plat costs more than gold. again.  for a change, too  that is $100-per-ounce, Y/C, and no prisoners were harmed nor taken!

maybe next time gold is a benjie more, people will sell it and buy 2 plats, but it really doesn't happen very often, just this once since MFG got the kids off the street, that i know of...

Tue, 03/13/2012 - 17:03 | 2251903 DavidC
DavidC's picture

Crikey Tyler,
You nearly had me with that 'return to mark to market' line.


Tue, 03/13/2012 - 17:17 | 2251950 ivars
ivars's picture

Today is exactly one year since my long term silver spot price prediction chart was created and published on March 13th, 2011, here:

Disregard most of the text, please, except advice for silver buying in the end:

[quote]So, keep silver, but You can buy or repurchase it cheaper during 2011-early 2012 than now. [/quote]

I will take the opportunity given by this anniversary to analyze the charts accuracy during and over one year.

One year ago, on Friday, March 11, 2011, Silver closing spot price was 35,9USD/Oz. In my chart on March 13,2011 I predicted that Silver closing spot price on March 13th, 2012 will be 32,5 USD/oz. Today it is 33,2 as I write. So the accuracy of this END-to-END prediction over one year period is about 2 %.

Here You can see the shorter term part of the same chart ( red color) with comparison to actual silver spot prices over the year period. I would like to suggest what would have been stacker actions he/she would have followed the chart:

1) He/she  would never had bought silver above 32,5 USD but waited until it falls below it-except if he wanted to make short term profit on the peaks and troughs in April and August-September by going long before the peak and short at or after the peak.

2) He/she would have bought like hell in October 2011 when closing price was in the range 30-32

3) He/she would have been happily surprised by drop in December -January 2012 and buying with all his money when price went even below 30 USD

4) He/she would have never fallen into traps of April , August-September, October -November and February 2012 excitement and would not have bought above 32,5 -sold may be to make profit and bough back later.

Of course, no one is able to believe in any chart so much, especially from an unknown source, but some reliance on it after it had proved quite accurate ( don't by above 32,5) would have helped after September crash.

But now the scary part comes to test the chart- the fast raise and drop in silver which according to original chart should start already on April 1st 2012, and reach peak by October 2012, OR, according to the same chart that was little bit tuned (green)  in October 17th, 2011- slower and later ( from mid June 2012, with a real sharp rise starting mid September, double top November-December 2012).

From both charts, I would say start to believe its going to hit 60-70 in 2012  once its over 45-50  But there will be a crash again, so buying above 45-50 without intent to sell at the peak is not advisable.

Can't wait to see what will happen. I do not trade, but have bought some physical gold to test own charting. If I am as lucky as usual in financial matters, I will loose money. Hope that helps.

All my prediction charts are in one place here:

Tue, 03/13/2012 - 18:15 | 2252076 HungrySeagull
HungrySeagull's picture

I have been splitting into three piles.

One to keep parity or better with Gold and Plat, one to buy and sell at a moment's notice and the other as "Dry Powder" for any rise in pricing into the 40's and 50's or even beyond.

Sooner or later I should reach critical mass in Silver and allow it to literally grow money on the regular rise and fall of pricing.

Time grows short. I don't lose sight of why I am doing this. And that is to essentially retire ALL debt and possibly get off the grid in a number of ways with work on my home.

One of my parents are dying and she is working what she can to help my wife while she is alive with some well thought out moves that have absolutely nothing to do with metals.

Stocks? We got out a long time ago, there was one day when Ford was trading at 2.11 a share and I had a thousand dollars ready to pull the trigger on it... I was defeated by my own doubts (Despite Ford's early history of resolute strength in times of trouble)

Silver needs... no MUST trade at between 150 to 320 dollars or higher to match 1980's losses in the US Dollar.

Tue, 03/13/2012 - 17:19 | 2251962 Quinvarius
Quinvarius's picture

Check the Dollar vs the MXN, GBP, and CAD, as well as a few other currencies.  It didn't do so well as it would seem.

Tue, 03/13/2012 - 17:20 | 2251968 q99x2
q99x2's picture

No reason to complain about the food stamp program by people that are given money through market participation.

Everyone must depend on the Fed for their survival


On a long enough timeline the survival rate for everyone drops to zero.

Move em in. Head em out. Rawhide

Tue, 03/13/2012 - 17:26 | 2251980 luna_man
luna_man's picture



I am truly amazed, that some are amazed, that the markets continue to go higher!


The CRIMINALS will do whatever, to keep this so called recovery alive!...The CRIMINALS, are feeling the pressure!



Tue, 03/13/2012 - 17:28 | 2251986 soopy
soopy's picture

Lol exuberation.

Tue, 03/13/2012 - 17:34 | 2251994 HungrySeagull
HungrySeagull's picture

Gold and Silver had a little move today. At least it's alive. and not a HBD.

I finally realized another rubicon when buying gold or silver.

A few dollars in spot price, buying at 37 last week or buying at 35.50 today or whatever does not matter much in the final cost.

Just buy the goddamn things.

Tue, 03/13/2012 - 18:04 | 2252059 Chartist
Chartist's picture

Monthly SPX chart shows we're in the fifth wave up from the 666 bottom....I am staying long.

Tue, 03/13/2012 - 18:24 | 2252100 Yen Cross
Yen Cross's picture

You are the " Williams Curve" epitome!  ab= c/d off the 61 fibi of the second wave of the retrace of  wave E on Cii A second wave.

Tue, 03/13/2012 - 18:33 | 2252117 zero110
zero110's picture

You nearly had me with that 'return to mark to market' line. nike free run sale

Tue, 03/13/2012 - 18:44 | 2252142 Lady Heather...UNCLE
Lady Heather...UNCLE's picture have been long from 666?  Well done

Tue, 03/13/2012 - 19:29 | 2252248 ebworthen
ebworthen's picture

What a steaming crock of shit.

What a hot absolutely steaming crock of bullshit.


UFB (Un Fucking Believable in the real world - where is it? - rhetorical question).

Perception is reality, and reality is nowhere to be witnessed.

Lather, rinse, repeat until the U.S.S.A. Titanic sinks.

Fucking bullshit.


Tue, 03/13/2012 - 21:12 | 2252583 cnhedge
cnhedge's picture

i thought this fed statement is bad.

Do NOT follow this link or you will be banned from the site!