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Snapshot Of Pure Lunacy
This is a snapshot of pure market lunacy.
- Rumor on: 3:25 pm: ESM FUND TO BE GIVEN A BANKING LICENSE ACCORDING TO A DRAFT - RTRS
Zero Hedge then tweets following:
... sure enough not even 2 minutes minutes later:
- Rumor off: 3:45 pm: GERMANY REJECTS DRAFT MEASURES INCLUDING BANKING LICENCE FOR ESM
And this is what all this insanity looked like:
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Tyler,
Take a look at the Dow. It would be funny of it wasn't so unnecessary. It might stop 'them' from putting these rumours out. I've got whipsawed recently with these stupid moves, stayed out today for the last 40 minutes and glad I had.
As you say, lunacy.
DavidC
HFT false positive rumor
I believe these debts are becoming a problem. Not a good situation knowing that creaky boards and chinese made wall board are the Banking system collateral.
The market is starting to realize the Banks have no collateral.
This afternoon when Draghi started saying how he admired the Bundesbank I realised that he is not playing a game. He means it. He will appeal directly to the people over the heads of the pols. He's never going to print.
Next they will try to consolidate all of Europe's gold to function as collateral.
... I wish a goold luck to Mr. Wolfgang Strangelove Scheuble at consolidating german gold from the NY-Feds claws ...
Dutch gov. started with "consolidation" of gold months ago, confiscating the gold from the pension funds.
"Consolidation" of italian gold ---> 200 West Street, to uncle Lloyd ...
etc.
I don't go crazy much, but when I do, I prefer pure lunacy. Stay sane my friends.
c'mon just a small rally prior end yr...then we short this dumb ass market
SP500 new downleg confirmed - bearish triangle chart at blog.
My long term indicators have continued to warn of USD strength and EURO weakness and these signals have increased since 2009. The overdue dollar rally should be substantial.
http://stockmarket618.wordpress.com