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"Price Stability": 10 Year Retraces Almost Entire Intraday Swing, As The S&P Surges By Over 60 Points In Minutes
Following a 600 point plunge in the DJIA yesterday, today we see a 400 point surge following the presentation of the weak case of the expected Bernanke Put. And completing the amazement, the 10 Year bond, moved to almost record lows, and then retraced virtually the entire move, as nobody knows what central planning has in store for America any longer. Additionally, after being up 50%, VIX is now down 22%. Congratulations Ben: in taking central planning to nth double-down levels, you have now broken not only the stock, but the bond market as well.
10 Year:
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in accordance with what we think your dying wishes might well have been, we commit your mortal remains to the bosom of the Pacific Ocean, which you loved so well... Goodnight, sweet prince.
aww...nice marmot
Walter what is your fucking problem man?
Theyre fucking nihilists man, thats what.
Nihilists huh... That must be exhausting.
What the fuck are you talking about?!
This Chinaman is not the issue!
I'm talking about drawing a line in the sand, Dude.
Across this line you do not, uh--
and also, Dude, Chinaman is not the preferred nomenclature, uh..
Asian-American. Please.
I am the walrus, I am the walrus uhh.
nobody fucks with the jesus!
I don't like your jerkoff name, I don't like your jerkoff face, I don't like your jerkoff behavior, I don't like you... jerkoff.
I'll tell you what I'm blathering about... I've got information man! New shit has come to light!
mumbo-jumbo all - GS/JPM told Bernank/Fed what to say at 2:15pm today - after which GS published its "interpretation" of the 2;15pm today Bernank/Fed speak - after which GS pumped U.S. stocks to spite bears and the entire world of U.S.-doubters - and to stir fear into the sheeple over the HOLY DOW's unpredictability yet resillience in order to sew the seeds for Jackson Hole WY August 26 2011 Bernank announcement of QE3 - to which anyone with half a brain can only say fuck the USphonyA Empire and long live the republic, or break it up in five parts based on ideology, and fuck the Wall Street Casino, and its "investors"...
Free the world - bomb Wall Street - ahh, call in the UK rioters for that - US'ians are too busy binging burgers, burbing coke, gaming, gambling, bla bla bla boring fucking knucklehead provicial clueless moron pussies squabling over marbles - losers all - if you want the world to respect you go blow up some banks...
Yeah.... well... you know... that's just... like... your opinion, man.
lol
yoos toos crack me up!
Never has there been a more perfect comment at a more perfect time.
daily RSI was 16 man...that is deeply oversold and a bounce was due.
Shut up, Donny.
The f'ing short version: http://www.youtube.com/watch?v=EXT0gOk1Ogw
Ahhhh fuck it dude, lets go bowling
gangland,
What if the Chinaman, is in China?Does that make him a Asian-Chinese?.
Why do have this PC shit here anyway?.
If you are a citizen, your just a plain friggin American.
Screw the Hyphenated shit spewed by the Liberal fks,that's one of the reasons we're a Nation Divided.
um, lol.
preferred nomenclature
The under-cinematized is a sad, sad thing.
Hell, I can get you a toe by 3 o'clock this afternoon... with nail polish. These fucking amateurs...
Ve vant ze money, Bernanke
ve believes in nussing, Bernanke, nussing - and tomorrow ve come back and ve cut off your johnson!
THERE ARE NO MORE FREE MARKETS!!!! EVERYTHING IS A SCAM!!!!!!!!
You may be saying that about many Americans, as well as their economy.
comrade oogs is going to get an early wait on his stand in the bread line....have to brush up on some other communist era things since that is where we are headed, except we will still have billionaires...maybe we can call them uber-comrades or they can all just be czars
Commissars.
alles klar, Herr Kommisar?
http://www.youtube.com/watch?v=JQ_m4_wnPNw&feature=related
nice
represent
What f'ed markets we have...
Great job, Chairsatan!
wow..did you know that f'ed spells FED too? Creeeepy!
I wishthefuck someone would explain the rules of this market thing to me. Are we supposed to buy or sell now? Are times good or bad. I can't tell.
Tequila will fix this, I am sure.
It's pretty fucking obvious we should be buying the Euro.. Since they don't have ANY debt problems and should remain 25 cents ubove PPP (purchasing power parity).. against the USD.. That's it.. I'm going long here.. No stop.. target 1.80... fucking BB...
to the liquor store!
The above 15 comments on this board should go down in ZH history as the most shining example of what we can achieve here. Take note historians and Michael Lewis. (Now, where is that cute trainee from Hamburg...)
Yeah someone should print out a hard copy before the servers get shut down...
Where does this mindless prattle rank in that list:
-----------
slaughterer
on Mon, 08/08/2011 - 23:48
#1541055
DOW 10060. Doable by lunch tomorrow, it seems.
-----------
So I was off by one day. It hit in overnight futures last night. Pay attention.
<<< Pay attention. >>>
I would pay attention if you had something intelligent to say. As it is, you are another daytrader following your gauges. At least Robo used to post interesting pics with his/her posts. Not any more. Yawn!
The problem is that the gauges stopped applying when it was clear that the only real owner, for any length of time, of any stock in the DOW 30 is the US Government and the Plunge Protection Team thereof.
If ZH gave me the privilege, I would post charts and videos as well.
The Bernank's going to go down as the Fed Head who broke all markets, and for quite a long time.
Twice bitten, once shy comes into play here, folks.
Three times bitten sucks, because most just bleed out.
Look back to 1929 to 1932 for guidance, an era that The Bernank claims expertise on, in the most ultimate of ironies.
Who is the next Austria?!
Yep, stockpile physical as long the FRNs will buy it and just wait for them to finish burnin the mother down.
Can someone explain WTF is going on in the markets?!?
a bunch of fig-eaters with towels on their heads tryin' to find reverse on a Soviet tank?
ah...that must be exhausting
We're talking about unchecked aggression here, dude.
So when does Wall Street's unchecked aggression become London's on America's main streets?
It's already starting in smaller scales.
If it were a French tank, it would only have reverse.
The market is exactly like a monkey trying to fuck a football. Lots of activity expended in a lost cause.
Just got super hiiiiiiigh on hopium.
We still need a precipitus drop before Jackson Hole, when of course, he will say nothing again, not thing will be fixed.....again....and assure the bear goes into hibernation.
I am so excited! Stocks up, bonds up, gold up...we're all going to be rich, I tell you!
Yes. Markets go up one day and down the next; then vice versa. Wash, rinse, repeat.
As I had said, several times, going into the blog frenzy of the last few days:
Chill
"And completing the amazement, the 10 Year bond, moved to almost record lows" no amazement here, that it proves again that the long term interest on Teasuries is trongly correlated to the expectatiion of the future Fed Funds Rate.
The amazement was in the almost complete retracement.
Battle Royale meets Royale with cheese. Now BACK OFF!
The amazement is that Bank Stocks were backstopped at yesterday's lows, to the PENNY for JPM-FAS-XLF-BKX(+2cents)-UYG(-2cents)-C & BAC never came near yest's lows today. Let the banks buy stocks that yield way more than the 10 year. QE3 is Operation Squeeze, like squeeze people out of bonds becu'z the yield is so low, get'em into stocks. Let banks buy stocks too, the yield on the equal dollar Dow 30 hit 3.25% today.
Reviewing the action:
http://www.youtube.com/watch?v=pUMEVSWx7IM&feature=related
Congratulations. It seems you are beginning to understand the impact of ZIRP on Term Structure.
Treasury bubble has popped, David Rosenburg probably top ticked it.
Flight out of currency risk.
Let's see...should I loan some of my hard earned money to a government that borrows .42 of every 1 it spends and can't seem to stop at a rate that is lower than real inflation who has already borrowed more than it can ever pay back? Gee, I don't know that's a tough one but I think I'll pass on that. Thanks anyway!
Martin Armstrong on why bonds yields stay low
http://www.martinarmstrong.org/files/Why%20Bonds%20Always%20Rally%2008-0...
The real capital displacement (shift from bonds to stocks) has not yet taken place.
It may be.
The only thing that looks PPT about this rally is the strength in financial stocks.
So people plunge into equities because there is no yield from bonds, but the Fed admits that earnings power of equities will be low because the economy sucks.
So now, aren't we playing an even bigger game of hot potato in hoping that someone else will desire the "equity yield" and hope they don't get destroyed by a poorly timed earnings release?
Yes
Your jewish overlords are well in control. Time to double the aid payments to Israel, you gotta pay top $dollar for this quality of fascism.
some Chinaman in Korea took them
calmer than you are
It's only derogatory if YOU take it as derogatory. Some white folk prefer to be referred to as "rednecks", "honkies", "gringos", "crackers", etc. They love it. Really.
calmer than you are
calmer'n you are, Dude...
Uhhhh, Groundhog Day?
Fucking Chinks?
dont quite recall that particular line...
Well, "fucking" is technically not derogatory. But you are free to use "chinks" as a stand alone term. But I've always been at a loss for what "chinks" implies. The American slang doesn't make a whole lot of sense. I understand "cracker", but "chinks?" Oooooh, "chink". Wow, that term must strike terror in the hearts of Chinese all over the world.
Nothing like what having Bernank and Geithner in charge does.
I prefer white bread, or thin lips.
Do they make yellow bread?
I like gringo, actually, but only because I'm a stranger in Aztlan.
this isn't a guy who built the railroads here...
http://www.huffingtonpost.com/2011/08/06/israel-protests_n_920274.html
underloards.Spot-on, never forget... Israel is the only middle-eastern country to ever commit acts of terrorism against the US.
http://www.youtube.com/watch?v=fvItZ2GS88A
http://en.wikipedia.org/wiki/USS_Liberty_incident
http://www.youtube.com/watch?v=Ujoc1DYjuPE
I see some of us are in need of reprogramming.
Independent thought and pursuit of the truth are decidedly inconvenient.
Indeed... Normally an Israeli firster would have shown up by now calling us all racists for not dropping to our knees kissing the first Jewish ass that passed..
Won't be long. They will be here to reinforce the conditioning the very few of us somehow shook off by fluke accident.. Mr. Smith is on his way..
USS Liberty... nuff said
I'm SHOCKED u would say such a thong-i mean thing. Now go take your clothes off and dance in the window. I just got home from work and have the bino's at the ready.
as the good doctor is famous for saying, "truth is treason in the empire of lies"- Ron Paul
and the good Underdog says "sex is the reason i spy, i spy." arf! arf!
Haym Salomon: Financier of the Revolutionay War
http://www.fau.edu/library/brody5.htm
What's sad and pathetic is that American Students are still taught that the Revolutionary War was due to a stamp tax and a tax on tea, and other such nonsense.
The Revolutionary War's primary cause was that a very Rothschild-controlled England did not take kindly to the New Colonialists printing their own money, via Colonial Script, because it deprived the Crown of the means of extracting wealth from every time Colonial Script was used to purchase goods and services, with the Colonialists not having to borrow anything from the Bank of England nor pay any interest.
What's even far more sad and pathetic is that our government sold us out in 1910-1913 when they allowed The Federal Reserve to set up shop and delegated the very right to print money to it, without so much as a whimper.
Cheap money got us into this mess, and even cheaper money will get us out.
+++++++++++++++++++++++++++++++++++++++
Just watch tomorrow, when Bigfoot Bernank seeks to take out his rage (three dissenters!) on the gold market.
Can't make a recovery omelette without breaking a few eggs!
"And completing the amazement, the 10 Year bond, moved to almost record lows" no amazement here, because it proves again that the long term interest rate on Treasuries is strongly correlated to the expectation of the future Fed Funds Rate.
No, it proves that climax buying ends bull markets.
Good luck with shorting Treasuries. How did that work out in Japan? A country that has even more debt than the US.
For people who pride themselves on being contrarian, I'm amazed at how many people here shit on bonds. Don't you realize that being bearish on bonds puts you in the same company as UBS, BofA, Morgan, etc?
What do you think the rally was at the end was ? The CAD jumped by over 1% even when oil was down.
Do you think the PPT was buying CAD ? I don't.
Japan had a 20% savings rate for decades, they are a creditor nation. The US does not look like a creditor nation to me.
Good point, but I don't see foreign investors dumping US Treasuries when so much of their exports rely on the US consumer.
Plus, it's only day of trading. I don't make my decisions on that. What I do know is that the sentiment towards bonds is extremely poor, and history of previous credit collapses show that bonds perform well in these situations.
History shows the opposite when it is the governmets credit collaping
"when so much of their exports rely on the US consumer."
US consumer is toast dude, the growing spending middle class is in India and China. They'll pretend to keep servicing the US market as long as the US continues to pretend to pay them, but that's about it.
Not toast, GONE.
Most American consumption of the last 20 years died when Fannie and Freddie got nationalized.
I have doubts about the importance of the American comsumer at this point.
Welcome to Crazy Town!
The markets are getting more and more like a lunatic asylum.
Adds a whole new meaning to the PPT.. It is now considered the PONZI PROTECTION TEAM..Days away from getting caught they had to do something to buy themselves a little more time. It's really a flippin joke at this point. America, land of the free now land of the bots. I wonder just how much mom and pop lost yesterday and how much they got back today? NA DA...Just a number they can stare at to keep them from having a run on BAC... Tick,tock,tick,tock time is running out.
we pretend to invest in markets and they pretend we have markets.
What part of collapse don't you understand? Gold, then watch the carnage from a distance drinking frozen vodka with babe in hand. Enjoy life don't wrestle with pigs in the dirt.
This market is beginning to resemble an alligator during its death rolls. The only question is...is the alligator the hunter in this market or the HUNTED?!?!
Just saw Bill Gross on the boob tube, reacting to the now zero rate two year. He said it might as well be a billion. None of the short bus crowd caught the line or reacted. Here is what I think he meant.
At zero interest, no one but the Squid, the Morgue, and the gubment will trade this shit. NO ONE. All the easier to manipulate the hell out of international cash flows. I try not to wear a tin hat. I really do.
That isn't Tin Foil at all.
Just stating the cold hard facts on this shit show.
Buy GOLD & SILVER. FED just gave the green light to multi thousand gold and triple digit silver.
and competitor Blackrock is countering everything Gross says/does as part of the Special Ops side of the PPT
Do you know what channel he was on? I'd like to watch that interview in full.
Thanks
Manic depressive markets one minute sobbing hopelessly in the corner, the next jumping around the room throwing confetti! Total and utter insanity.
Dollar is toast BTW.
Letting the Dow fall under 10000 is unconstitutional and unamerican. Kudos PPT for saving America's economic image yet again.
Its coming out of the treasury market.
These movements are nutty and it is time to get out of the water, hug your wife, kids and PMs, and stay far away from the drooling Keynesian lunatics in the corner.
+1000
wtf happened to silver today?
Silver is for speculation gold for safety. Choose wisely.
i choose silver
Ahh, the false duality. Thinking like this is what will help those last few silver owners who could not be shaken from their positions either by prices of zero or inf-1 become the oligarchs of the next era. We who hold silver thank you for spreading such falsehoods.
You can choose whatever side you want. I'm in it for the insurance. Do you dispute that gold is better insurance than silver?
As Mosley says, false duality. Silver is a much more manipulated market, but, so far, has greatly outperformed gold over the last years and highly experienced, informed persons like Eric Sprott believe that silver will be the star of the decade. They have both been money for thousands of years. In short, they are both insurance, not trading vehicles, and you should be glad to have two options, and I would and do use both. If you take Nassim Taleb seriously regarding wildness and unpredictability, you would certainly utilize both as well as other vehicles for perserving wealth.
I wonder how others on this site have been influenced by
Taleb?
(edit: I should say, I half agree), Tm, but I like your confidence. A good trade always has strong conviction. My conviction is thus: what do CBs hold in vaults? Who is draining GLD (but not SLV)? When the S really HTF after the Debt Kabuki theater, what outperformed?
Personally, I think gold will fly the standard into and through hyperinflation. As in, massive decouple from Ag.
But, I tend to believe silver will be the standard bearer into and through the Depressionary plunge (that brings down Au) following HI, and many years after. But, honestly it's just an educated WAG..
i wish i could bitch-slap every single one of you, you don't collapse 20-25% over a two week period in a bull market. get a hold of yourselves. play the damn rally, short into resistance, rinse and repeat.
Who gives a shit about 'trading' stocks to gain some worthless dollars? You take a look at the dollar today?
i trade paper (etf options) to buy physical on dips. i'm speaking to those here that are still short (shouldn't be since end of yesterday) being overly emotional and freaking out about today's "rally." there is no fucking way we just jump right back into an equities bull market after what just happened over the last couple of weeks.
and no, TEOTWAWKI isn't lost on me. not at all.
Cocaine trades in dollars still, and in the end, isn't that why we're all here?
I'm here for the cookies.
Did you leave any for the rest of us?
(that question is directed to each of you in turn)
I am here for Robo's girlie pics ...
Me too, and he has not been delivering the goods lately.
Robo, Dude, we were up 4%+ today. I'm sure you've got some obscure company there that just got its rat enema patent approved whose chart you can post. Along with the the other pics, of course.
Red wine and pussy futures, or is that future pussy?
Don't forget the dollar - another day like today and we can use it for toilet paper. The "Plan" is now clear -- as if it wasn't already. It may be time to do as they are doing in London and bring about "Real Change" in this country.
I'm afraid it's too late for that. Jersey Shore is back on and football starts soon. Home of the quasi-free and the complacent.
What's the yield on a 10yr govt bond? I can't find this..
There is none.
If you buy one, they give you back your money in 10 years but they send you an American flag on a popsicle stick right away!
I planted mine, but they still haven't germinated yet; I'll let you know.
To quote ole Hunter:
"When the going gets weird, the weird turn pro."
Future histrorians will marvel at this madness.
Even current ones. Now GET IN THERE AND BUY!
When's silver gonna go back up?