This page has been archived and commenting is disabled.

Post-FOMC Market Reaction

Tyler Durden's picture





 

Equities tumbled but Gold/Silver and Treasuries were the hardest hit as the potential reality of lower chance of more massive LSAPs was evident in the FOMC minutes. As we have argued for weeks now, the Fed is cornered and is unable to enact QE3 without a much more significant drop in markets and implicitly the economy. We assume now that the sell-side will refocus its efforts on telling us all just how bad the economic picture really is...

 

Ugly...

Gold is holding $1650 for now

30Y/10Y Treasuries snapped back to reconnect with stocks - back to yesterday's high yields of the day for now.

EURUSD back to one-week lows as DXY ramps up...

 

Stocks are holding at yesterday's lows (for now) and converging back down to credit's reality

The dollar is accelerating higher as we post and stocks heading to yesterday's lows.

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 04/03/2012 - 14:16 | Link to Comment asteroids
asteroids's picture

Context gave you a clue yesterday if you believed it. The FED is sitting on its hand and will watch. Expect no help from them until after the election. It's going to be an interesting year.

Tue, 04/03/2012 - 14:23 | Link to Comment Mark Carney
Mark Carney's picture

Was wondering what happened, just finished lunch and everything was down (weird, I KNOW!)

 

Thought someone farted....

Tue, 04/03/2012 - 14:26 | Link to Comment tallen
Tue, 04/03/2012 - 14:35 | Link to Comment fonestar
fonestar's picture

Gold and silver are down or paper gold and paper silver attacked?

I'm sure someone just had a few million ounces of phyzz in storage, got frustrated that there is no more easing around the corner and decided to liquidate.  Pretty simple and someone will drop by with their armoured car later to pick it up.

Tue, 04/03/2012 - 14:45 | Link to Comment PaperBear
PaperBear's picture

their paper car.

Tue, 04/03/2012 - 15:37 | Link to Comment nope-1004
nope-1004's picture

Just an excuse to beat down PM's.

Ponder this:  If PM's are such a bad investment, are held for tradition, are a barbaric relic, and less than 1% own them, why such a heavy sell off on gov't released propaganda days like this?  Who's selling - if no one is buying?

Kinda obvious.  It's a rigged, fascist economy.  We hear how gold is "tradition" and used in jewellery.  So are tradition-collectors following the FOMC's every word?  LOL.

This country is in a pickle.  Western banks brought the world with them.  Now to save themsevles and cover the mony laundering, they need to meddle in the metals.  We are past repair and going down quickly.  Obama-care.... lol.  More like Obama-crisis.

 

Tue, 04/03/2012 - 15:42 | Link to Comment oddjob
oddjob's picture

Silver 'crashed' to where it was 24 hrs ago...ouch?

Tue, 04/03/2012 - 17:23 | Link to Comment BoNeSxxx
BoNeSxxx's picture

And tomorrow it will ramp again on vapors... SSDD.

Wed, 04/04/2012 - 11:23 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Stop measuring a commodity money with paper, measure Gold against silver, barley, Palm oil, SUgar, Corn ect.... Paper is irrelevant at this point.

 

Tue, 04/03/2012 - 15:14 | Link to Comment FedBunny
FedBunny's picture

As long as you keep it frozen, jyzz in storage beats phyzz any day.

Tue, 04/03/2012 - 15:19 | Link to Comment LowProfile
LowProfile's picture

 

I'm sure someone just had a few million ounces of phyzz in storage, got frustrated that there is no more easing around the corner and decided to liquidate.  Pretty simple and someone will drop by with their armoured car later to pick it up.

sarc/

 

Fixed it.

Tue, 04/03/2012 - 14:56 | Link to Comment SheepDog-One
SheepDog-One's picture

Right but also remember if Goldman said buy, they were selling.

Tue, 04/03/2012 - 15:40 | Link to Comment trampstamp
trampstamp's picture

This looks like a way to produce another short squeeze and make the market go higher. Get all the bears on then trap them.

Tue, 04/03/2012 - 14:31 | Link to Comment ACP
ACP's picture

Nah, just wait for that annual crash to happen, and Brian P Sack will get another round.

Tue, 04/03/2012 - 14:38 | Link to Comment DormRoom
DormRoom's picture

Fed handed over printing to ECB.  ECB prints.  hands it back to the FED. hands it to BOJ. hands it back to FED. hands it to ECB.

 

Nuthin but a circle jerk among the reserve currency and its rival.  BRIC dollar here we come.

 

The triangular structure is about to undermined.  Also a nice match up in regional power rivalries.

 

Tue, 04/03/2012 - 14:56 | Link to Comment SheepDog-One
SheepDog-One's picture

Yes they can print all they want, but at some point they have to sell it off to someone. If they cant, theyre left holding the bag themselves, and it looks like they cant sell.

Tue, 04/03/2012 - 15:46 | Link to Comment Red Raspberry
Red Raspberry's picture

Not a triangle but a square with an open bottom.  Gold should be there on the bottom to shore it all up but they leased it all out.....

Tue, 04/03/2012 - 15:46 | Link to Comment Red Raspberry
Red Raspberry's picture

Not a triangle but a square with an open bottom.  Gold should be there on the bottom to shore it all up but they leased it all out.....

Tue, 04/03/2012 - 16:31 | Link to Comment greensnacks
greensnacks's picture

+10

Poor China. They try and dump USD and the Fed weakens the Euro. My guess is that next week, the BOJ will do the same with the Yen. China's monetary policy to peg to the dollar is just driving up inflation for themselves. Maybe a BRIC dollar will be their escape.

Tue, 04/03/2012 - 14:21 | Link to Comment CClarity
CClarity's picture

Are we ever going back to unmanipulated markets where price action reflects both technicals and fundamentals?

Highly accomodative monetary policy likely to be warranted through late 2014!!! 2+ more years?   When oh when can we take the pain and really get back on track?  

Tue, 04/03/2012 - 14:30 | Link to Comment Dre4dwolf
Dre4dwolf's picture

Not until this system fails and it takes the blame.

 

The markers are so heavily manipulated/hinge on central banking for survival that its sad..... all these corporations need to go bust in order for people to come to a harsh realization that their entire lifes worth of financial decisions are based on bullshit + luck.

Tue, 04/03/2012 - 15:01 | Link to Comment MFL8240
MFL8240's picture

NO, we will not! 

Tue, 04/03/2012 - 14:16 | Link to Comment Cdad
Cdad's picture

Get on your knees and beg, Wall Street, for more...more...more free money!  About now, the criminal syndicate might take a moment to consider how it debauched entirely the US equity market...and capital formation.

Way to go Wall Street!

Tue, 04/03/2012 - 14:31 | Link to Comment Cdad
Cdad's picture

Okay...that's 27 minutes of sheer agony for the members of the criminal syndicate financial services firms.  It must now be time to start talking about why QE3 will be coming anyway.  

Criminal bankers...talk amongst yourselves on the BlowHorn [CNBC].

Tue, 04/03/2012 - 15:08 | Link to Comment caconhma
caconhma's picture

FED will print. There is just no way around unless there will be an economic collapse with bansters hanging on trees.

Tue, 04/03/2012 - 14:58 | Link to Comment spinone
spinone's picture

They need their wall street campaign contributions. Gotta squeeze em. Who run barter town?

Tue, 04/03/2012 - 14:16 | Link to Comment Chief KnocAHoma
Chief KnocAHoma's picture

Who elected this guy?

 http://annoyanidiot.blogspot.com/

Tue, 04/03/2012 - 14:16 | Link to Comment TradingJoe
TradingJoe's picture

fellas, beware of the 2:15ish buy programms!!!

Tue, 04/03/2012 - 14:40 | Link to Comment SheepDog-One
SheepDog-One's picture

Let em keep buying, and whining about no retail...FINE with me! Every time they buy they dig a deeper hole. 'Boo hoo hoo wheres retail to sell our stocks to?' lol

Tue, 04/03/2012 - 14:18 | Link to Comment nicktd
nicktd's picture

eurusd is also tanking

Tue, 04/03/2012 - 14:21 | Link to Comment Cdad
Cdad's picture

Technically, the door to 1.302 is now swung wide open.

Tue, 04/03/2012 - 14:19 | Link to Comment navy62802
navy62802's picture

Fuck me. Gold's getting HAMMERED. If it keeps falling off a cliff like this, I might snatch up some more.

Tue, 04/03/2012 - 14:36 | Link to Comment Strider52
Strider52's picture

navy: fuck me too. If silver hits below 32, I got some truck-loading to do, especially after last weekends boat-scuttle.

Tue, 04/03/2012 - 14:51 | Link to Comment slyhill
slyhill's picture

uhhhm, im guessin' you were sunk by those awsome torpedos?

Wed, 04/04/2012 - 11:24 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Not a chance in a million people are going to sell their PMs right now. If I see Grugman or Roubini come out and yell victory of paper over PMs that is when you need to buy ladies and gents.

Tue, 04/03/2012 - 14:41 | Link to Comment SheepDog-One
SheepDog-One's picture

I dont care at all about advertised PM prices in dollars....its all for after the dollar becomes worthless and with the BRIC's agreements this week, that is far closer.

Tue, 04/03/2012 - 14:19 | Link to Comment Tsar Pointless
Tsar Pointless's picture

I'm conflicted.

The kid in me says "Bullish!", but the adult in me says "Feh. I stopped worrying about the end of the world long ago. Strangely, I feel fine."

Just enjoy the world party, here on this ship of fools.

http://www.youtube.com/watch?v=ZHh0V7UjVXI

Tue, 04/03/2012 - 14:19 | Link to Comment apberusdisvet
apberusdisvet's picture

A schitzoid market ruled by psychopaths, governed by fascists, and regulated by the deaf, dumb and blind.

nothing to see here; business as usual.

Tue, 04/03/2012 - 14:19 | Link to Comment -1Delta
-1Delta's picture

"We assume now that the sell-side will refocus its efforts on telling us all just how bad the economic picture really is..."

 

lol

Tue, 04/03/2012 - 14:43 | Link to Comment SheepDog-One
SheepDog-One's picture

Manic/depressive schizo markets.....YEA that should make bankrupt retail real confident to buy stocks, apprently with food stamps, I dont know!

Tue, 04/03/2012 - 14:28 | Link to Comment tallen
tallen's picture

Looks like Goldman is going to get stopped out on Gold.. Hahhahaha (WHEEZE) HAHAHAHA

Tue, 04/03/2012 - 14:33 | Link to Comment nope-1004
nope-1004's picture

Assuming they actually did what they advised which, as Tyler has shown, is not true.  They likely went short and made a bundle today at the expense of their clients.

Proves why satan can be called "devilish".

 

Tue, 04/03/2012 - 14:21 | Link to Comment fonzannoon
fonzannoon's picture

People on here can be funny. Anyone who actually believes that they are done "stimulating" the market is nuts. A few points came off. Maybe we have a sub 200 point day like a week ago. Then on Friday when the Jobs report misses people will say "hmmm the fed did say they will come in if the data drops off"...and it goes on and on.

Tue, 04/03/2012 - 14:23 | Link to Comment alfred b.
alfred b.'s picture

 

   The Fed is on a fool's errand!    They're bluffing....QE3 will come to pass.   In the end , they will save the banking cartel.

 

 

Tue, 04/03/2012 - 14:32 | Link to Comment SheepDog-One
SheepDog-One's picture

Money printing does nothing, its a 1-sided equation, unless you have someone to buy it off your hands its just pulling your weenie. ALL BS, thats why theyre all whining for 'retail' to come buy, dont believe their lies.

Tue, 04/03/2012 - 14:35 | Link to Comment walküre
walküre's picture

The Fed is very safe and comfortable. They don't need to worry about anybody else including their parasitic cousins. The Fed can crash the market, raise rates and riding into the sunset without a modicum of worries.

The only thing that would get the Fed worried is if armed guerilla forces were to blow up their buildings.

Tue, 04/03/2012 - 14:23 | Link to Comment Bastiat009
Bastiat009's picture

Hey Tyler, instead of saying you're always right, you must admit that the Fed has been clear and straightforward. QE3 is not happening. The banks are doing fine. The ECB has taken over and is providing the cash needed to maintain the bankers' lifestyle. Everything is fine.

Tue, 04/03/2012 - 14:33 | Link to Comment SheepDog-One
SheepDog-One's picture

With no one to sell their bubble FED stocks to, the bankers are screwed here. Dont believe the hype, they miscalculated, went for the money printing and fake bubble market party, and now are stuck with no one at all to sell to.

Tue, 04/03/2012 - 14:36 | Link to Comment walküre
walküre's picture

Generally I would agree. But are we sure they actually need to sell the paper crap to someone? They're pretty comfortable and can pay all the bills. The calls aren't coming.

Tue, 04/03/2012 - 14:38 | Link to Comment Bastiat009
Bastiat009's picture

I agree with walkure. Banks are doing fine. Gold is not really safe.

Tue, 04/03/2012 - 15:01 | Link to Comment Bastiat009
Bastiat009's picture

Seriously folks, all the banks should have gone under 3 years ago and they are all still here. The bankers have been rewarded and promoted and are wealthier than ever before. You may find that disgusting but it's true. 

Tue, 04/03/2012 - 15:06 | Link to Comment SheepDog-One
SheepDog-One's picture

'Wealthier' with what? Fake dollars? Big deal....now go out and loan them out at interest. OH thats right, they cant do that!

Tue, 04/03/2012 - 14:45 | Link to Comment SheepDog-One
SheepDog-One's picture

Well then why are they all whining so much about retail not showing up to buy their stocks, and schizophrenic about begging for more QE and now they dont get it and suddenly that was supposedly all part of the plan and theyre really doing just fine?

Excuse me for not buying a word of it.

Tue, 04/03/2012 - 16:42 | Link to Comment Cat Woman
Cat Woman's picture

FASB voted to relax mark-to-market accounting rules, which require toxic assets to be carried at fire-sale prices. Changes to mark-to-market accounting rules allow companies to use “significant” judgment in estimating the value of toxic assets, including mortgage-backed securities; thereby reducing writedowns and boosting net income. The banks are fine becuse they may apply the changes to first-quarter results.

 

Tue, 04/03/2012 - 14:23 | Link to Comment TradingJoe
TradingJoe's picture

"BTFD" seems to have become a thing of the past, eh?! With no more dough coming, for sure! Lived to see "markets" and "traders" DEPENDENT on gov "generosity"! Whoever thinks/believes this is still a "market" is the real "crazoly":))!

Tue, 04/03/2012 - 14:27 | Link to Comment ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Just want to give a shoutout to Jim Rickards.  One of the only people to conistently opine that QE3 would be nowhere in site for a long time.

 

Every day on KWN, the US dollar is "any day from total collapse", gold is "any day from the biggest spike the world has ever seen" and QE3 is "imminent".   Instead every few days, the opposite of all those things happens.

 

That said, The Forces Of Darkness aren't even trying to hide their gold price manipulation anymore. 

 

Once the public goes from laughing at the notion that gold prices are held down to taking it as a self evident truth, what will that do to investment?  Are people smart enough to think long term or will they flee from a game they know they cannot win?

Tue, 04/03/2012 - 14:27 | Link to Comment junkyardjack
junkyardjack's picture

Its an election year they'll pump at some point soon.  AAPL still up, Gold is going to be wild for a little while and then will likely go parabolic as well.  With all the liquidity they are pumping into the system you'd think everything would be flying up.

Tue, 04/03/2012 - 14:35 | Link to Comment SheepDog-One
SheepDog-One's picture

Pump what for an election? Stocks? Go ahead, have the election with $5.50 gas thats fine with me Im always ready to enjoy a clown show.

Tue, 04/03/2012 - 14:45 | Link to Comment Hohum
Hohum's picture

And the benefit of crashing the stock market is that WTI drops even faster!

Tue, 04/03/2012 - 14:46 | Link to Comment SheepDog-One
SheepDog-One's picture

Not neccesarily true, at all! 

Tue, 04/03/2012 - 14:27 | Link to Comment fuu
fuu's picture

SVU getting taken to the woodshed.

Tue, 04/03/2012 - 14:29 | Link to Comment Al Huxley
Al Huxley's picture

The funny thing is, I bet some of them actually believe their own bullshit - that their decisions are based on the strength of the economy and not on the ultimately undeniable fact that rates have to be kept at 0 because of the 15 trillion $ debt and 1.5 trillion $ deficit.

Tue, 04/03/2012 - 14:29 | Link to Comment SheepDog-One
SheepDog-One's picture

LOL...entire financial markets now pegged totaly to words from some bankers on if they will or wont print more fake money out of thin air...wow what a pile of shit.

Well central banksters, YOU built this shit sandwich, now YOU eat it!

Tue, 04/03/2012 - 14:31 | Link to Comment Stuart
Stuart's picture

nothing like regurgitation.    Amazing, like insects to light on presentation of same ole, same ole.  Groundhog day.

 

Tue, 04/03/2012 - 14:31 | Link to Comment monopoly
monopoly's picture

Amazing that out of the mouth of one incompetent Fed official comes words of utter bullshit and the market takes it as gospel. When will they realize that these idiots have no clue what they are doing and twirl their beads hoping it will all be OK> And the banks are NOT doing fine. Without all the phony money we gave them they would be gone. 

Tue, 04/03/2012 - 15:14 | Link to Comment eddiebe
eddiebe's picture

Not just the phoney money, but the mark to model accounting. And let's not forget the derivatives herd of elephants. They'll not only do QE 3 and 4 but all kinds of other 'easings' to keep this baby lurching along.

"Look out kid, they keep it all hid."   Bob Dylan

Tue, 04/03/2012 - 14:30 | Link to Comment Shizzmoney
Shizzmoney's picture

It's not a matter of *IF* they print, but *WHEN*.

Tue, 04/03/2012 - 14:31 | Link to Comment gimli
gimli's picture

So when will Ben relevitate the market tomorrow or Thursday?

Tue, 04/03/2012 - 14:33 | Link to Comment Conman
Conman's picture

Tomorrow, the POTUS is on the red phone to him and Timmay as we speak.

Tue, 04/03/2012 - 14:37 | Link to Comment SheepDog-One
SheepDog-One's picture

I hope he tells Timmay he better print or else, then we can watch and laughs as gas goes over $5 avg nationwide.

Tue, 04/03/2012 - 14:44 | Link to Comment Conman
Conman's picture

Lets see

-Budget crushed

-Obamacare about to be crushed

-Gas $4

-Another solyndra type failure nad probably mroe to come

-Debt cieling going to hit before elections

 

Yup  he's definataly calling in Timmay and Benny to get the Dow to15k before elections.

Tue, 04/03/2012 - 14:48 | Link to Comment SheepDog-One
SheepDog-One's picture

Really, I think at this point pumping the DOW to 15,000 just pisses off people even more. No one is impressed anymore with the FED shenanigans, everyone I know is sick to death of it.

Tue, 04/03/2012 - 15:04 | Link to Comment Conman
Conman's picture

For the common guy, all he knows is when he logs into fidelity or whichver croocks handles his 401k he'll see a nice green YTD % change.

So dow 15k means relection for the dummy in charge, even if its 10$ gas, jsut means credit card companies get to rake in more on missed payments becuase who's carrying around 100 in cash to fill your tank. Long visa, m, and amex.

Tue, 04/03/2012 - 15:08 | Link to Comment SheepDog-One
SheepDog-One's picture

'The common guy' is just logging on the check his .401K? LOL, most have had to cash out their 401K to live on.

Game over....they pumped, and no one showed up to pass off their pump. 'The common guy' is just wondering how hes going to pay his bills this month.

Tue, 04/03/2012 - 15:19 | Link to Comment Conman
Conman's picture

Yes lot of union type jobs AFL-CIO type have been converting(forcing) from pension to 401k.  So ya the common sub 20k, barely above porverty line, earning guy is now in the stock game. Game isnt over till mcdonalds dollar value items cost about 3 bucks. Some are up to about 1.50 and a lot of items are movign to "value menu" So until then, keep going you scumbags bankers and politicians, hope karma gets you and you are reiincarnated as slugs.

Tue, 04/03/2012 - 15:03 | Link to Comment SheepDog-One
SheepDog-One's picture

Oh 1 more thing, dont forget that Obama does NOT call Geithner and Bernank and tell them what to do....Obama is their little puppet on the end of the strings.

Tue, 04/03/2012 - 14:32 | Link to Comment suckerfishzilla
suckerfishzilla's picture

Right now over at kitco they are asking did Gold really go down $26.10?  "Click to find out".  So I clicked and it said that Gold really went down $29.  Gold is really getting spanked today.  I hope Silver falls another $29 bucks.   

Tue, 04/03/2012 - 14:38 | Link to Comment OutLookingIn
OutLookingIn's picture

laughing when you feel like crying... on and on, on and on...

Tue, 04/03/2012 - 14:38 | Link to Comment GernB
GernB's picture

It's the QE3 paradox. Pricing QE3 into the market ensures it will never happen.

Tue, 04/03/2012 - 14:39 | Link to Comment lizzy36
lizzy36's picture

Remember March 6th.....the only real sell off of 2012, then on the 7th Hillsenrath leaked the QE3 story.

Lets see what happens tomorrow.

Tue, 04/03/2012 - 14:43 | Link to Comment Conman
Conman's picture

Exactly, if not fed then cnbc clowns will jsut leak a "source" hinting it. If it doesnt happen tomorrow, i'd be frikin suprised becuase every step in this pozni gamed market has been 100$ predictable.

Tue, 04/03/2012 - 14:52 | Link to Comment SheepDog-One
SheepDog-One's picture

And this 'sell off'...takes us all the way back down to....Fridays market levels.

Tue, 04/03/2012 - 14:46 | Link to Comment Silveramada
Silveramada's picture

no panic bitchez, blue beard Ben Shalom is giving us more reason to buy silver & gold! just a pullback in ABC correction of wave 2, probably bottom at 1625-1600 $ the most, then we are gonna take new highs again and pass the old 1920$ level in 2012...BUY NOW

Tue, 04/03/2012 - 14:47 | Link to Comment bb5
bb5's picture

what happens to the stock market if the plutocrats decide they don't want Obama to win?

Tue, 04/03/2012 - 14:50 | Link to Comment SheepDog-One
SheepDog-One's picture

Awesome question! What if 'TPTB' are in fact done with Obama, and want a white dude in there to take all the heat? Entirely possible! Everyone just assumes that Obama is 100% shoe-in....not so fast that may not be the plan at all.

Tue, 04/03/2012 - 14:51 | Link to Comment Conman
Conman's picture

http://i.usatoday.net/_common/_notches/f40e8023-d72e-4ebb-a9fd-88981a65d...

When you rasie this much money, you cant have the government not intervene with bailouts, easing, free money to the elite.

Tue, 04/03/2012 - 14:59 | Link to Comment SheepDog-One
SheepDog-One's picture

People dont seem to understand that 'free money' is totaly worthless, unless you can sell it to someone else. And no one is showing up. Thats why CNBC and the rest of the financial media is whining non-stop about why isnt retail in there buying the lovely markets. 

Tue, 04/03/2012 - 15:15 | Link to Comment Conman
Conman's picture

Its not so worthless, free money for bankers means they keep bonuses or stock options. They fool you with headlines of "banker bonuses cut". isntead they issue stock, get the PPT to pump up the stock market, then sell to the mass-tards. And then we wonder why insider selling is at all time highs. Duuuh.

Tue, 04/03/2012 - 14:48 | Link to Comment MFL8240
MFL8240's picture

The fuckin clowns are back at it lying to manipulate the markets.  This is a disgrace in the highest order.

Tue, 04/03/2012 - 14:51 | Link to Comment navy62802
navy62802's picture

How long until an algo shits itself and we get another glimpse of the beautiful chaos of a flash crash?

Tue, 04/03/2012 - 15:00 | Link to Comment SheepDog-One
SheepDog-One's picture

Today I hope! Id love to see a nice circuit breaker market drop, nice entertainment.

Tue, 04/03/2012 - 15:37 | Link to Comment Village Smithy
Village Smithy's picture

I'm more concerned we'll see a flash pop, a massive BTFD rally.

Tue, 04/03/2012 - 15:04 | Link to Comment SheepDog-One
SheepDog-One's picture

So now 'no QE3' means -100 on the DOW, plunging precipitously all the way down to....13,155?  Thats all? Pretty crazy seeing as how anything north of DOW 9,800 was built on promises of QE3 coming, and nothing else!

Tue, 04/03/2012 - 15:07 | Link to Comment rubearish10
rubearish10's picture

It is just Bizzarre that AAPLe is holding up 1.6%. Shieled by the prospects of ongoing entiltlemets for every EUC benefit payment to go directly to gadgets! The richest poor people in America!

Tue, 04/03/2012 - 15:11 | Link to Comment Conman
Conman's picture

You arent too far from the truth. Take some time riding the nyc subway and you'll see a lot of white headbuds(iphone). Also a lot of Beats headphones, status symbol of the want to be rich. Hey look at me ibought a 200$ headphone. If my father who was an electronics engineer ever saw me buy a 200$ headpone he'd woop my ass on princiiple.

Tue, 04/03/2012 - 15:19 | Link to Comment rubearish10
rubearish10's picture

All this talk of spending cust and tax increases next year is alotta BS. Just think of the rebellion that would ensue on the BMT, IRT adn IND!

Tue, 04/03/2012 - 15:36 | Link to Comment Village Smithy
Village Smithy's picture

"Status symbol of the want to be rich" I love that it sums it all up. We have somehow let ourselves believe that by spending more than we can afford  we will feel like we have more money than we need.

Tue, 04/03/2012 - 15:40 | Link to Comment ivars
ivars's picture

I have a feeling that April will not be a month silver moves up So we  shall be closer to the prediction chart I made green line as it diverges from red in the beginning of April:

http://www.tfmetalsreport.com/comment/132799#comment-132799

Which may mean there will be another dip by the end of April-early May. But after that...!

BTW, silver still stays within 32,5-33,4  range indicated in between red ( 32,5 - 1 year ago) and green (33,4 - October 2011) charts.

Tue, 04/03/2012 - 16:00 | Link to Comment gold-is-not-dead
gold-is-not-dead's picture

pfff, bollocs... last time they rhetorically postponed new qe xauusd dropped 100 bucks… now only 30ish… I couldn't even do a proper short on comex...

Tue, 04/03/2012 - 16:27 | Link to Comment Bastiat009
Bastiat009's picture

Whether you like it or not, stocks are barely down, gold has crashed. Bernanke controls the markets and there is not much you can about it.

I am not saying it's right but it's a fact.

Tue, 04/03/2012 - 17:03 | Link to Comment TWSceptic
TWSceptic's picture

Crashed? It has been at this lower level for a few weeks, basically flat that is. It hasn't done fresh chart damage yet.

Tue, 04/03/2012 - 16:31 | Link to Comment user2011
user2011's picture

Well, if they really want to get the excuse to do QE3,  just turn off the HFT machines.  And you will see the natural state of the economy and stock market.  

 

Tue, 04/03/2012 - 16:40 | Link to Comment GernB
GernB's picture

OK, but serious question... why did the Euro drop?

Tue, 04/03/2012 - 17:14 | Link to Comment TWSceptic
TWSceptic's picture

Dollar is up.

Tue, 04/03/2012 - 17:01 | Link to Comment Zymurguy
Zymurguy's picture

We still had the 3pm bump!

Tue, 04/03/2012 - 18:01 | Link to Comment SilverDoctors
SilverDoctors's picture

637 million paper ounces of silver dumped on the market in the hour after the fed minutes release crashed silver...$ 0.65 to yesterday's level.
Law of diminishing returns?

http://silverdoctors.blogspot.com/2012/04/6375-milion-ounces-of-paper-silver.html

Tue, 04/03/2012 - 20:19 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

regardless of man-date, the FED must focus on meeting the needs of the Treasury

a little deflation along the way, and no problemo amigos

Tue, 04/03/2012 - 20:25 | Link to Comment jack stephan
jack stephan's picture

Mr. Burns: And now that I am back to normal I don't bring love. I bring hate, fear and...

Dr. Nick Riviera: Time for your booster!

Mr. Burns: Good morning starshine...

 

Wed, 04/04/2012 - 04:24 | Link to Comment dcb
dcb's picture

no, tbt dropped to the trend line on the weekly chart, then moved up the trend line to a new weekly high from last week (all in one day (5 days of move the algo's are going crazy, and treasuries should be up today, should chart tbt weekly.

 

 

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