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The Schizophrenic Market Update - Buy The Rumor, Sell The News, Then BTFD
It's been 20 minutes and in that time we have been entirely depressed as every risk-on asset dumped to the day's lows or lower and now we are entirely euphoric - there is still hope - as Gold/Silver make new highs, stocks recover all their losses, Treasury yields continue to fall, and EURUSD does, well, we are not sure really... Meanwhile, European Sovereigns are all cracking wider...
Gold and Silver chaos...
S&P 500 futures rip-dip-'n'-rip...
EURUSD Algo-mania...
meanwhile EGBs...
Charts: Bloomberg
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We've tracked today's actions throuhgout the day.
http://blog.quantsig.net/
malikai, it wont help to promote a website with black text on black background.
There's no black text on a black background. The text is white. Are you really seeing black/black?
What browser are you using?
The chart text is black (or dark grey) on black, text essentially unreadable (Chrome).
Ben finally figured out that the more money he prints the less there is - and the metals can not be stopped - not now, not ever.
And who ever said that the options people were smarter than the rest have been proven correct. :)
One foot on the brake, and one on the gas!
Man there's too much bullshit, I can't pass!
You haven't tracked anything.
You've got a couple RTF charts up, with zero analysis.
Looks pretty unimpressive, actually.
Shame, really, because if you actually look at the charts, you will see something quite different than you describe.
Anyway, human analysis is not our forte. We do machine analysis.
The more headfakes, the better.
Love and kisses,
Ben
It looks black on black on my chrome. Impossible to read antyhing.
We've checked chrome/windows, chrome/osx, ie/windows, mozilla/windows, and mozilla/osx all showing up fine. I'll take all you guy's words for it and we apologize, we will try to find out what the cause is.
Rose, fell, rose. Once the market realized that Bernanke wiil do QE3 to help Obama get re-elected.
http://confoundedinterest.wordpress.com/2012/08/31/bernanke-hints-a-more-monetary-easing-chicago-and-milwaukee-prints-disappoint/
He's not doing anything before the election
Nah, the primary purpose in life for an algo is to hunt for stops. Every fool who thought the market would dump had a stop in case Ben decided on handing out the free candy. Once those stops are eaten up the market will start it's decline. Be patient Grasshopper we will soon have Prez Mitt who will solve all out problems /s.
Stops are an emotional vehicle.
There are no humans trading. It's all algorithms. So there are no stops. And thus, no hunting.
What is going on is the phrasing of the news reports on the wires is varying. The headline reading algos are going in different directions as each appears.
Anyone who gets depressed or euphoric over the price changes in gold and silver in a matter of minutes really doesn't understand why they should buy PM's in the first place.
Look at what they have done over 10 years, not 10 hours and especially not 10 minutes.
this was the craziest shit ive seen in ages.. watching it do that.. EURUSD was just as bad tyler.. crazy algo's going wild
Cant mess with EOM marks.
expect the unexpected
... and expect it when you least expect it.
This reminds me of my uncle's EKG-graph he took 24 hours after smoking crack.
lol
Efficient markets. Nothing is wrong. Carry on.
This is the clearest evidence I have seen that there are indeed headline reading algorithms running trading. The phrasing of the speech on the news wires is varying. Some say "he hints at easing" some say "he will not take any further action because of uncertainty about unconventional policy".
As each arrives on the wire services, the algos do different things.
price staabbiiiiiiliteeeee.
Don't like the market? Wait 5 minutes ...
Ben is jawbowning. Or propagandizing. And it's working.
Ok, I'll say it. FUCK YOU BERNANKE! And Especially YOU Potter.
BULLISH!
BEARISH!
TOTALLY GOD DAMNED CONFUSED!
IN THE MONEY!
OUT OF THE DAMN MONEY!
TREADING WATER....!
SHARKS IN THE WATER!
ROBERT SHAW IN THE FUCKING WATER!!!
Bernanke knows the trade-bots have his back. Touting another QE is completely unecessary. Why doesn't everyone understand this?
There a so few left to sell. All the hedgies, institutional buyers and MM's are the bagholders. They will do anything to keep this turd of a market afloat.
so hows that treasury short working out for CS? http://www.zerohedge.com/news/how-make-500000-credit-suisse-betting-big-jackson-hole-disappointment
As i said....
"he's actually been pretty predictable. everyone already knows there won't be QE, which is why this trade won't work. Buy the rumor sell the news. Treasuries will probably rally a few bps. "
welcome to the broken market. Where inflation sends commodities up, equities with with threats of qe, and bonds up with OpTwist. Yea... I can't wait for the algo flash crash. This is gonna be so much fun... o wait. no it isn't.
I keep staring at my silver....It's not moving at all...WTF?
Look at treasuries go. wow. Nothing makes any sense.
Treasuries are where terrified money goes. There is a lot of it, both in the US and in Europe. And there will be more.
Consider what the upcoming negative nominal interest rates will mean. Banks will pay you to store money in your mortgaged house.
should be interesting to see rates go negative in concert with the usd selling off. one of them has to give
Well, fonzandood, this is one of those moments where one loses the plot.
Money is meaningless. Money is an artificial creation. Adam and Eve had no money. Money wasn't invented for thousands of years.
So the USD selling off means nothing. Nor do interest rates, particularly, but they are somewhat compelled by deflation derived from oil scarcity.
Economic . . . and ALL . . . activity must decline. That defines everything, including rampant confusion.
Maybe...but I am going to head out to buy a sandwich for lunch now. The guy making it wants about $7. Until he wants a silver dime or or me to wash his car you can stick your name calling up your ass. When he does want that, I have plenty. So I guess you can stick your name calling up your ass either way....
CIO, your comment, "money is an artificial creation", is itself an artificial creation.
All natural things exchange energy via intermediaries. "Money" is the word we use to describe the specific, agreed-upon, accepted medium of two human parties involved in a exchange. It is an inanimate broker of the exchange. Meditate on that!
This is a sick world we live in.
I am so confused :( - Does this mean i should close out my Morgan Stanley account and move to Schwab? ?
http://www.hangthebankers.com/morgan-stanley-faces-imminent-failure-ruin...
No. The reason you are confused is obvious. You are too lazy, too illiterate, and/or too liberal. If you had read the article instead of just the title, then you would close all your accounts and buy gold.
Binary data machines and software trying to parse the logic of a PhD human economist.
Classic.
Garbage In => Garbage Out
A soap opera through charts.
Like fiat currency through the printing press, so are the days of our lives.
"Keep talking ool keep talking"
http://www.youtube.com/watch?v=yGj0aLurjrA
Bob Piss-on-me saying humans like him are buying becuase they are smart because they can read.
"Well, it starts like a roller coaster ride, so real it takes your breath away."
Day trading ?
More like minute trading
Minute trading? More like millisecond trading.
Yeah, a minute feels like a month
Bernank, central banksters, and congress Wash DC all summed up right here Hedonism Bot Compilation - Futurama - YouTube
Welcome to the matrix.
Happy Trading
Algoed to Death
https://www.youtube.com/watch?v=pFS4zYWxzNA&feature=related
01000101 01110110 01100101 01101110 00100000 01110100 01101000 01100101 00100000 01101101 01100001 01100011 01101000 01101001 01101110 01100101 01110011 00100000 01101100 01101111 01110110 01100101 00100000? 01110100 01101000 01101001 01110011 00100000 01101101 01110101 01110011 01101001 01100011 00101110
How 'bout this one:
1010011010 ?
Convert that strangely symmetrical binary number to decimal.
funny everything is right back where it was 2 days ago...except treasuries.
I WANT MY TURKEY SANDWICH!!!!!!!!!!!!!!!
i hope people realize now that bernanke is not the printing prince of paperville...............he is much more calculating that many on this site perceive him to be..........................he is not going to print the dollar into oblivilion....it will never happen.....why would he destroy his precious dollar and the fed???? the country is going down one way or another............better than congress bears the brunt through a deflationary collapse than a hyperinflationary one....................as long as the dollar stays alive!!!!!..........................
Get real ... Ben is an actor; he's not the scriptwriter. The dollar won't be permitted to live much longer....
youre flat wrong.......im not saying that the dollar will be the preeminent currency in the world 10 years from now...it wont.....but its not going anywhere..............
LOL ... Cheeses feckin' crust, you sheep are dumb!
We'll know by Christmas whether I'm right (though I expect it will only be weeks rather than months).
bring it on i-dog...put your money where your mouth is...the dollar remains intact.....what would you like to wager? this is too easy............
Credibility.
Fair enough....credibility it is.....with a side of fries.....
Sweet Dreams Kito
Kito how do you reconcile the dollar being sold off hard on the news of no QE? Aberration? Maybe...Gold rallying too..
Either somehow as we all come to the conclusion that you have been pretty accurate about....QE is not coming but the markets see it differently...or as the world sees that QE does not work, and the politicians are not going to do shit....maybe the dollar starts to seriously take a hit.
Treasuries getting bid in the face of a USD selloff still says that this is an abberation and that your thesis is correct IMO. But it's interesting.
i am no expert in the day to day machinations of the markets.......only those dark, nefarious characters who pull the levers know what is transpiring on a daily basis.............
I never argue with nefarious. It's just too cool of a word.
He will print..evetually It is just a matter of when..... he may not do it before the election and I may be out a turkey sandwich but he will eventually print. He doesn't want the unavoidable collapse to be on his shoulders so he is going to force congress's hand. His stated policy is the power of the wealth effect. If he doesn't print then he blows his whole theory out of the water. Gold and the market is agreeing with me right now.
How many mulligans does Ben get?
Gotta love em berserk algos...
These look to be the "Cha-Ching" algos. I wonder which bots won this round?
STACK TITS
Tits . . Mmmmmmmmmmmm (said in Homer Simpson voice)
Dual mandate: "Use these screws and this hammer to build a chicken coop."
Genius.
Hmm, so this is what's meant by a broken market...
DavidC
"Hmm, so this is what's meant by a broken market..."
Who cares - - I'm making money right now. Ask me again after the close
Oil and nat gas both shot up 1.5%, surely to be demand related.
The market must be deemed a terrorist organization, more dangerous than AlQaeda. It must be shut down.
The financial terrorists have caused more financial damage in four years than the past 200 years of war combined.
Is this a dream? This market can't possibly be real.
It's real, but a market it ain't.
everybody PLEASE WATCH THIS
http://www.youtube.com/watch?feature=fvwp&v=V9APEzXQbj4&NR=1
REDNECK ON THE ECONOMY
http://www.youtube.com/watch?feature=endscreen&NR=1&v=AK43ej_i1KY
Dumbest shit ever please dont watch that ^^^^
Although racist.... but Funny!
It's a honey badger market, it don't give a shit about the news, it is going up.
Ben is worried about Biflation:
-Eurozone and Spain at records for unemployment A N D inflation is over 2% and rising (!)
-In US energy and food prices rising (when they normally should be in steep decline seasonally) while core PCE just hit 0 (!) indicating no pricing power for goods and services produced.
Yipes!
NYT reports the exact opposite of ZH: "Breaking News: Bernanke Makes Forceful Case for More Fed Action to Spur Growth"
Yes, just like he's been doing for the last n months.
DavidC
Who reads the NYT ?
Flying monkeys!
Watt
people really thought they'd let the market fall going into a holiday weekend? Nuts! They need the sheep happy and out spending money they don't have...
Hmm, gold-n-silver seem to be extremely resistant, the short covering has immediately taken place. JP Morgan has apparently failed to launch its suppresion algos; maybe they're out of money.
Maybe they're out of money, but they are definitely out of silver.
Its likely FED backed (via favored primary dealers) algos on bid
Gotta keep the game alive. The only alternative is implosion
They panic'n out there I can feel it, they panic'n.
Everyone please go look at the USATODAY headline on Bernanke... that ends in 'stocks rally'. Comedy.
No bounce for Facefook though, perhaps its not an `algo stock`.
it's friday before holiday, it's end of the month, the market will not be allowed to close in red.
giving you yet another +1....simple and to the point and spot on.
ill fucking LMAO if the market sells just 5 minutes before the close with an elephant algo
Europeans countries on the verge of going tits up. Market's response? The Euro rises. US Dollar falls.
Pass the popcorn and 3D glasses - this is getting entertaining.
The "market" has no contact with reality. It is simply a reflection of the Fed's Wish List.
for supplementary information, see "It's a Good Day" episode from the Twilight Zone.
Dirty Bennie:
I know what you're thinking, did he QE 5 or 6? Well, there was QE1 and 2, ZIRP, Twist 1 and 2, but did I miss a TARP, or POMO?
You want to trade these markets; then ask yourself one question.
Do you feel lucky?... Well do ya, PUNK?
No, but I think my chair is telling me it feels lucky.
Why would anyone be in this market for any reason? It's so damned manipulated.
Pachinko- braindead
Slots- ditto
Bingo- a bit monotonous and too many smokers
Craps- all the good tables are out of town
Poker- UIGEA'd
Small Biz- may be deviant, though no masochist
Corp Drone- no thx, already read Dilbert
There's only so many whackaholic positions at the SEC to fill as well.
'Staff' positions must be filled nevertheless. They're especially interested in analysts familiar with the bar.
http://www.usajobs.gov/JobSearch/Search/RSSFeed/1521184
for an insight into Bens remarks and how the markets react this week end wait till next Wed.
This is Bernank with 'beatings-on' since no one bought Facebook scam.
That's IT - I'm suing Ben for whiplash.
Spanish 10y not partaking in euphoria: +4%!
Anyway wondering how long with the hopium last. Last year it had half life around 6 hours after Shalom spoke.
We are in just the 4th year of what looks to be a 10-plus year credit contraction, and 2 things are sure to happen: Benron or his successor will HAVE TO do more QE, and they will HAVE TO NOT talk about it beforehand. QE here, and a european sovereign bond bailout, are sure things, hiding in plain sight, and the PMs, as in today's action, are my best indicator of how soon perceptions of these upcoming bailouts will come into investor focus. Just some ideas.
Rather than BTFD....maybe we are through the looking glass and it is more like STFP (short the fucking peak).
Whatever the case, those short silver today are probably now sitting in intensive care.....
Think what happens when you spin a top.
At the beginning, the top stands nice and straight while all the energy is bleeding off. As it continues to slow down, it becomes increasingly unstable, until finally it tips low enough for the side to hit the tabletop or floor. Once that happens, it's a VERY rapid loss of velocity until the thing stops spinning and clatters down completely.
There's a useful analogy in there for anyone who wants to know how to "trade" this shit.