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Not Even Goldman Understands This Market Any More
The following EOD commentary from Goldman's S&T desk pretty much summarizes how everyone feels.
All’s well that ends unchanged (again) in equities. Today’s rally into the close doesn’t match yesterday’s rip, but neither did today’s selloff match yesterday’s. Unclear what drove the rally back, perhaps the Monti headlines (though not from how I read them) or perhaps simply seller’s fatigue (though not judging by our flow). Long-only accounts small better to buy, but hedge funds much better sellers all day – cash, ETFs, and downside options. Tech meaningfully underperforms, down 1.1%. SPX up 2 to close 1321 (+.14%). The DOW up 34 to close 12530 (+.27%). The NASDAQ drops 11 to close 2839 (-.38%).
Luckily we still have 4 full weeks of comparable inexplicable market action, courtesy of one Brian Sack (and those Citadel white knights of course - wonder why they posted a loss on a simple Facebook IPO, but never during regular trading hours? And why the ongoing uber secrecy surrounding the firm's HFT division... Why indeed), before his full transition out of Liberty 33 is finalized.
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This is why normal people keep their hard-earned money out of the stock market.
I'm normal? My wife says that I'm completely crazy.
Then what does That make HER?
Not Even Goldman Understands This Market Any More
Do you really think they are going to ADMIT that they turned on the buy algo programs?
Lloyd obviously told one of the junior mailroom clerks to write up the EOD summary, since the clerk wouldn't have to feign ignorance.
If his wife is like mine, then I can answer that question for him: Reborn Virgin....................
It's a Babylon Market where even the babblers don't understand each other.
So THAT expalins why the banksters are in the stock market. It's somebody else's money!
On the bright side, my guillotine is coming along nicely. Gonna put it on wheels for easier transport.
Make sure to grease the wheels. Do you know what makes a good grease?
Slowly cooking the pigs
I had the Idaho trout today at Bouchon for lunch in Yountville, Ca. http://www.bouchonbistro.com/ ahh just ok the wine had my wife sleepng all the way home. Perrrrrfect.
Those wheels will be Greeced.
Hang some fluffy dice on it as well. That'll finish it off nicely.
Yea man, it will look good rolling up into the driveway of Jamie Dimon and Ben Bernanke. Severing heads is difficult work, make sure you have some storage area on it for snacks and drinks.
It would be funny to roll this in front of retail banks and then have mock banker executions - with signage indicating the crinimal activities they are engaged in. People wouldn't forget that and you would surely get some media coverage!
It could happen.
You should put together a DIY video on youtube. A trailer hitch would be cool too.
Grind down the blade nice and dull for us
Guillotine? Call me a traditionalist but I prefer good ol torches and pitchforks.
Excellent! This is for you Dead Canary:
http://timesfreepress.com/news/2011/oct/01/economic-trends/?opinioncartoons
This one's for all you new fangled hipsters:
https://picasaweb.google.com/lh/photo/urqZwB6nDOFWy3jTSaQe9dMTjNZETYmyPJ...
Now Now....there is no need for such alarming talk. We here at Skynet...I mean DTCC http://www.dtcc.com are in control of the situation. There is no need for such childish talk.
I thought Goldman WAS the market...
One of their analysts was pushing Chinese cement last night.
If he was in China, he might be encased in Chinese cement by tomorrow night.
do you know when greece releases the withdrawl figures for bank of greece? thx
day after never? BTFD
Caution: You could wake-up some morning holding the dip, and as human nature would have it, you've become complacent? You can't get out, and probably had doubled-down,... or worse. jmo
One assassination could set Europe in flames - never count it out -- " Quote: Mark Twain __ "History doesn't repeat itself but it does rhyme"
http://en.wikipedia.org/wiki/Assassination_of_Archduke_Franz_Ferdinand_o...
Bad things happen in Three's??? *{WWI-WWII-WW???}
Irregular heart beat. It happens right before a heart attack. There's no reason to buy into this market and all the reasons in the world to go to cash.
And or PM's.
I'm starting to question my "gold" theory.
A EUro bust will be good for the USDollar, which has been BAD for the price of gold.
Super. We're having a WTF bounce! I'm sure people are going crazy buying the pops in the WTF bounce rally...that not even criminal Goldman Sachs understands.
More market perversion, please!
alls well that ends up.
http://covert.ias3.com/expose/
LoL Cdad well I guess at least we cant complain about not having interesting times to live in.
You know Dog...I took a bit of a hit there in that last hour...but I am just lol'ing like a madman tonight. It is more obvious now than it has been in the last three years...just how f'd things are. You saw very desperate men in the markets that last two days...the last hour crap. You can almost smell it now...how the currrent regime is losing its grip.
Now...if we could just motivate Average Joe's everywhere to jump on the "bank run" train...and finally defund these criminal syndicate banks...we'd have our quiet revolution, finally.
I don't know that we could have a bank run given that any or all banks in that situation could run to Ben for more DigiDollars.
#41
How much paper is there, compared to DigiDollars?
And, how long would it take for DigiStocks to DigiCrash once word gets out that only DigiDollars are left?
+ 1 up Foster
One thing Goldman dose understand is Theft ! and they are good at it !
peeks, is chat gone or is it just me?
I thinks just you .. Miss ya around there thoe ! wonder if you where just on Vaca .
Peace brother !
If everyone pulls fiat that'll do what, exactly? They're STILL FRNs! Those who are most affected don't really have anything in the bank anyway.
The game is running out because growth is ending. I don't care whether you're a bankster, a teamster or an honest businessman, EVERYBODY is going to get toppled (well, the "survivalists" will do OK for a time, but most are predicating their positions on some return to normalcy, which ain't going to happen).
If things start getting bad it'll be more control placed on all of us because, well... these sorts of things will be classified as being a "threat to the nation, a threat to 'national security'."
No, there will be no quiet once the wheels really start to pop.
Bank runs are impossible these days.
All this will do is accelerate the move towards:
1) All physical cash transactions becoming illegal (in the name of reducing fraud and tax evasion)
2) Unlimited digital fiat "currency" creation
3) Complete bankster takeover of the whole world
There's this really nifty invention, called 'a bank wire', funds get transfered at close to the speed of light -- in very large amounts-- Reggie Middleton explained all this. Do some research.
Buy the what the fuck fucking dip!
alright, if the vampire squid is claiming to not understand this market action then we have truely entered into bazaaroland
Yea no shit huh? If even GS is saying 'WTF is with the markets' we've definitely entered full retardo world.
Ha....
They're just admitting they either ran out of other fuckers to blame or just got their new shipment of Coke and Hookers in.
Fuck the Muppets, gotta get another blowjob in before cocktails.
(sound of noisy inhaling through collectable $1,000 gold certificate)
And That's pretty much it. They no longer are able to squeeze. This doesn't, however, mean that they don't understand what is going on. They're ALL starting to realize the the game is about over.
And focusing on places with non-extradition treaties.
Beware the Head Fake !!
...doing GOD's work...GS-DickinDaMuppets
Good grease? Just grind up the innards of a few poor people.
Simple Goldman, the creditors, Obama's paymasters are liquidating assets. So, any attempt at a short squeeze is knocked down when Asia opens. One thing you have right is that the Hedge Funds are shorting Asia as Asia buys USDs and UST. BRICS are falling apart etc
Therefor any rallies are extremely muted even in the rumor mill bs
As for Europe, no one cares anymore...the insanity is reaching the crescendo as ZH points out...via apocalyptic bank runs.
"BRICS are falling apart"
I have to laugh. LONG time ago I was poo-pooing all those who drank the Koolaid and ran around proclaiming how these countries were going to rise. With the exception of Russia, ALL are hollow, NONE have much in the way of natural resources (Brazil has a bit of oil, but not enough to really make a big difference for long). No complicated analysis necessary, just used common sense...
The BRICs trade was a con job, didn't a JP Morgan guy come up with that term?
For months, the BRICS have been dumping their currencies, India (on mass), China, Brazil. The so called extra "I" in the BRICs (Indonesia) is falling off a cliff, bonds dumped daily.
So yeah, they go, the world goes ( especially America/Obama.)
This is what they say about the Indonesian outflows
- OTC USD/IDR trading called ridiculous by one trader
- Spreads wider than the Straits of Malacca
...has Goldman lost their mind, no way. this is Goldman's strategy......
http://www.youtube.com/watch?v=jllJ-HeErjU
Bank run must have them a bit worried.
I took Tyler's headline as toungue-in-cheek.
Remember, goldman's March 'historic opportunity in equities' note was designed to create a top to unload their ballast, and when Joe Publique instead held off (and continued to raise cash) their recent bearish research note was posited by Tyler as proof they'd morphed to a contrarian full risk-on.
Thus, while they've likely paused full implementation of this scheme while Europa events play out, one suspects they're the culprits in the past two days' reversals, taking advantage of a general pause in buying (amongst institutions and individuals) to squeeze shorts on low volume, after first picking up stuff early in the day on the "cheap." Here's hoping they're left holding a big old bag of crap a few weeks hence (at which time we'll see an "historic opportunity, the sequel'" note from their crack research staff, so they can dump, lather and repeat).
Grandpa Says Free News Unsustainable, May Add More Papers
Grandpa’s Translation: You fucking Muppets will pay for our propaganda news whether you like it or not. Did you just see the message we sent to the EU? Internet ID is coming bitches. How do you expect us to recoup on the [FB] banking investment losses? You better get used to our iron hand methodologies or face internet ID inactivity fee penalties. You bastards are supposed to click on every ad and hit the like button, then forward this to all your twat blokes to build product branding.
Grandpa Ranting: Goddamnit, I studied the Avon business model night & day for months. It works I tell you, I’m thinking about Amway investment next.
Bwahahahaha.
He could own and charge for all the fucking newspapers under heaven and it won't do a damned thing to increase newspaper profits.
Munger musta not noticed that newspaper readership including internet accessed is falling in favor of alternative non-print related media?
(Try subscribing to or buying Tranny Porn Daily anywhere except on line or in front of the SEC's building. Very limited distribution....)
The fight club will advance your IQ to levels never scene on the MSM platform. Thank Tyler and all contributors’ who diligently work by educating you, me & others.
:)
Respekt.
Meh, I'll stick with getting my news from The Onion. I know what I'm getting there...
I can't tell the difference anymore. It's all funy.
"While circulation may slip, papers only fail when there are dailies competing in the same town . . ."
Translation: Pick the markets, buy them all up, shut 'em all down except for one.
"Buffett said the company’s newspapers won’t “move the needle in terms of Berkshire’s economic value” in yesterday’s letter"
Question: Then why own it, if not for a profit?
http://www.bloomberg.com/news/2012-05-24/buffett-says-free-news-unsustai...
Nothing he's done so far smells as bad as this. Now we know where Piers Morgan is going. Hack, hack, oh, I think I have a cough . . .
I wonder if Grandpa's gonna distribute his rags by rail?
Get yesterday's 'news'(propaganda) next week! LOL!
Fuck you Warren Stuffett. I don't waste my money on the rags available to me now, what makes you think I'll pay for em when you own em?
Tyler, we are now in an unusual period where The Script itself is failing - which is potentially very, very good.
Control of The Script is far more important than control of any individual market.
Algorithms don't do the bullying. The Script does.
Goldman doesn't understand the markets so much that they will likely have one day this quarter where they were only slightly profitable in trading...
And Comex gold trades like it's a DJIA equity.
flatline...9:30AM... up down $20 to $30...4:00PM....flatline....gotobed...see you tomorrow.
flatline...9:30AM... up down $20 to $30...4:00PM....flatline....gotobed...see you tomorrow.
Makes just a perfect shitload of sense to me.
Are you serious? Not even Goldman understands this market? Goldman Sachs understands less than anyone!
Goldman Sachs said that they were doing God's work, but they do not know God.
They led their clients, who trusted them, into the inferno.
They told people that gold was worthless, but they themselves coveted gold.
They violated and abominated the law, while demanding that their counterparties observe it.
They pretended to have inherited the virtues of the businessmen of old, when in fact they are the descendents of thieves and murderers.
The time is soon when the people of Goldman Sachs will be judged, and they are afraid. Their god, He who will not let them say His name, will take off His mask, and own them.
They are doing God's work in the same way that the Tohoku earthquake and ensuing tsunami did. Except they do it all over the world instead of just in one country.
Nice acting. All designed to lead people to believe that there are actually "Chinese Walls" at the primary stealers.
Mick -
Eff Off man, this is our turf. Go find your own Muppets.
...doing GOD's work...DickinDaMuppets
absoluteley great lead to the past.. after trackin mr. brian sack back through zh links, i got to this, :
http://www.zerohedge.com/article/reverse-repo-failure-confirmation-prima...
classic zh call.
.
OT: but whats going on with the Nikkei - Kyle Bass going to get paid soon?
Nickels?
Kyle's such a hack.
Oh, wait, what about an internationally noted medical doctor specializing in medical radiation issues talking about the end of Japan financially?
http://enenews.com/caldicott-corium-hasnt-finished-will-never-finish-mea...
Oops. Maybe Kyle is on to something . . .
I CAN WIN A DINNER DATE WITH BARACK, MICHELLE, AND SARAH JESSICA PARKER!!!!! Thanks Zero hedge sidebar ad.
WTF.
I seriously am debating taking my $150k worth of credit, emptying 100 ATMs, and skipping the country. I don't know where I live anymore. If Goldman can't figure out the market they created, it's over. SKYNET wins.
Someone needs to highjack a missile, write "I AM JOHN CONNOR" on it, and send it right at Goldman headquarters.
Goldman is puzzled because the goyish markets are frontrunning inflation ahead of, "them".
There are some roadmaps that can make heads and tails of this market. I have been following for a number of years and like echen anaylsis well worth it to get on the right side of the trade.
http://humblestudent777.blogspot.com/
f*ck Goldman
Any decent self funded traders and the like ref: Asia going into meltdown bellwether Indonesia (once cashed up) is in crunch mode. Bad sh*t
1M-1Y NDF curve +590 pips, steepest since Nov 2011
Entire NDF curve is racing higher, with onshore liquidity likely drying up
1M offshore/onshore swap spread at 395 pips, widening from the morn
Exit from IDR positions may be harbinger for other AXJ currencies
The mutual funds cash accounts must be running on fumes with these constant redemptions. This is going to get interesting. At some point a fund manager will want to lock in his performance bonus and then watch out.
"Greed is Good" - Gordan Gecko
Luke: Your overconfidence is your weakness.
The Emperor: Your faith in your friends is yours.
http://youtu.be/NhTVoX4XPJE
ya, ich hab nix verstehen
Bear market, bull market, hog market. All the institutional players are in hog mode.
Hog markets end because the bulls and the bears leave and the hogs turn on each other. Then the bears come back and eat the last hog.
Bye bye cable bill ! Antenna company wanted about a thousand to do, what I just did for about a hundred and fifty. A lot of money floating around out there folks, literally. Thanks ZH for helping (educating) me, and getting my ass to work by cutting every bullshit expense out of my “way” of life. Got my cell phone bill down to $8.34 a month. Freezer next. Never been happier!
WHen in doubt, buy more gold*
*(and silver)