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So, Europe Is Fixed Again!! Referendum Is 'Basically Dead'

Tyler Durden's picture




 

This is getting ridiculous. Citing a Socialist Party Official Dow Jones is reporting that "The Greek PM's Referendum Call is 'Basically Dead'!" Instant knee-jerk reaction is a 1% rally in ES and 75pip (UPDATE: 90pips!) rally in EURUSD.

The reaction is ebbing back now.

 

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Tue, 11/01/2011 - 13:39 | 1833034 Fips_OnTheSpot
Fips_OnTheSpot's picture

Sigh!

Tue, 11/01/2011 - 13:42 | 1833061 A L I E N
A L I E N's picture

What, this didn't come for the FT?

Tue, 11/01/2011 - 13:44 | 1833085 fuu
fuu's picture

OPA!

Tue, 11/01/2011 - 13:51 | 1833140 knukles
knukles's picture

More fun than the Gong Show!
Who thought it was broken in the first place?
Jesus...

Tue, 11/01/2011 - 14:02 | 1833222 RichardENixon
RichardENixon's picture

Pappy baby Pappy baby Pappy baby Pappy baby Pappy baby!

Tue, 11/01/2011 - 17:16 | 1833294 redpill
redpill's picture

 

There once was a leader named Pap

His bond market took a big crap

He asked Italy for a loan

Thought of collatoral to atone

Ah! Put a teenager in Silvo's lap!

 

Tue, 11/01/2011 - 14:11 | 1833285 camaro68ss
camaro68ss's picture

Head fake bitchez, partys not over folks, get back on the dance floor and dance! dance slaves dance.

Tue, 11/01/2011 - 15:48 | 1833812 TheFourthStooge-ing
TheFourthStooge-ing's picture

knukles enlightened us with:

More fun than the Gong Show!

...and the prize is a lot bigger than $516.32!

Keep an eye out for the Unknown Comic, Jaye P. Morgan, and Gene, Gene, the Dancing Machine.

 

Tue, 11/01/2011 - 13:45 | 1833099 hedgeless_horseman
hedgeless_horseman's picture

Those Greek Socialists are starting to sound like Leninists.

Tue, 11/01/2011 - 17:57 | 1834530 caconhma
caconhma's picture

That is right. Next, Greek Socialists will sound like Stalinists.

Tue, 11/01/2011 - 13:46 | 1833111 curbyourrisk
curbyourrisk's picture

FT rumors only come after 3:00.  If this one don't work, don;t worry...the FT got your back!!!!!

Tue, 11/01/2011 - 14:13 | 1833291 TheLooza
TheLooza's picture

Man. Rumor defibrillators to keep this fucker alive.

They hope the chain of rumors can do the trick long enough for the next heart transplant wherein they give europe the diseased heart of an 80 yr old fat man, declare it a success and say with straight face that the patient now has immortality.

Tue, 11/01/2011 - 14:25 | 1833362 Mugatu
Mugatu's picture

The Euro Rumor Mill now looks like a high speed fan!

Expect more "rumors" every time the market is tanking - all of them will be found as untrue but rumors are the only thing keeping the market together.  

Tue, 11/01/2011 - 13:42 | 1833065 redpill
redpill's picture

Lurching like a one legged zombie.  Twitching like dying cockroach.  Slouching toward Bethlehem.

 

Tue, 11/01/2011 - 13:46 | 1833106 AbelCatalyst
AbelCatalyst's picture

Going long now is like picking up plastic pennies in front of a steam roller... When they start tripping over each other to get out of the way is when it will get really ugly!!  

Tue, 11/01/2011 - 14:18 | 1833321 Think for yourself
Think for yourself's picture

Hoping this will get fixed without getting out is like staring expectantly at Sodom to see what's going to happen.

Tue, 11/01/2011 - 15:11 | 1833620 Lux Fiat
Lux Fiat's picture

The footing is getting "slicker than catsh!t on linoleum".

Tue, 11/01/2011 - 13:43 | 1833074 HelluvaEngineer
HelluvaEngineer's picture

Hey, anyone else noticed that Greece is awfully close to Libya?

Tue, 11/01/2011 - 13:55 | 1833168 legal eagle
legal eagle's picture

Maybe the US and NATO can assure Al Quaida takes over there too!  Oh happy days.

Tue, 11/01/2011 - 13:44 | 1833089 kengland
kengland's picture

"This is getting ridiculous"

 

You and your crew say this every facking day. Is it ridiculous? How about assuming that we should have a functioning market. That is your frame of reference and it couldn't be more consistently wrong. They have shoved in all of our faces what the game plan is and you continue to act "shocked" by it. It's getting comical.

Tue, 11/01/2011 - 13:48 | 1833125 j0nx
j0nx's picture

This. Same goes for KD and the TF. Constant calls for the crash and this will end blah blah yet it never does. These guys will keep bezzling longer than you can remain solvent. There is only one solution to this and nobody has really come to terms with it yet because it's too terrible to contemplate. Keep dreaming that voting will make a difference and that crooks will willingly police themselves. I hear that if you believe in dreams hard enough that they will come true...

Tue, 11/01/2011 - 13:50 | 1833134 HeNateMe
HeNateMe's picture

Well, don't leave me hanging man?!  What's the solution!?

Tue, 11/01/2011 - 13:54 | 1833161 hambone
hambone's picture

The solution is there isn't a solution and don't go looking for one...there also won't be a problem so long as you don't go looking for one.  Stay w/ the herd...buy the bullshit and sell cognitive thinking. 

Tue, 11/01/2011 - 13:57 | 1833187 legal eagle
legal eagle's picture

Only one, the second coming

Tue, 11/01/2011 - 14:14 | 1833298 Incubus
Incubus's picture

I think most people stop after the first?

Tue, 11/01/2011 - 14:44 | 1833477 hannah
hannah's picture

not with that special little pill we spent billions developing so that the baby boomers could get it up .....

Tue, 11/01/2011 - 14:44 | 1833443 kengland
kengland's picture

The solution is the end...hyperinflation. Look, they showed the whites of their eyes on a 15% snp correction. They are willing AT ALL COSTS to destroy any chance of deflation. That's that. To assume a market driven deflationary spiral at this point, which is the implication on each hanging TD statement, is more absurd. Shorting euro! LMAO! Go for it. Get torched. The play book is open. Why the crew is deems this "ridiculous" at this stage is beyond me. The faster you get this the easier your life will get.

Tue, 11/01/2011 - 14:45 | 1833483 hannah
hannah's picture

we will have a debt spiral but we have to blow thru hyperinflation first .....

Tue, 11/01/2011 - 14:01 | 1833217 El Viejo
El Viejo's picture

Large entities such as sovereigns take a long time to come down. Plus politicians are coming up with kick the can down the road solutions that really just postpone the inevitable with more dire consequences. Oh its coming alright and we know it because the fundamental mechanism does not work. (It has no sustainability)  So now we have another populist reprieve. Yet another stay of execution, but the electric chair awaits and the end will be electric indeed.

Just one reason why its definitely coming:

http://www.oftwominds.com/blogjune11/eurozone-doomed6-11.html

Tue, 11/01/2011 - 14:11 | 1833281 Ruffcut
Ruffcut's picture

Damn it JOnx, I know you know better.

And so, this market environment show any improvement??? Fuck no!

This is very serious balls of shit, AND YOU FUCKING KNOW IT!

KD likes to fear monger about what he likes to fear monger about.

IT is all about blog entertainment. ENjoy it or watch full house, on TV.

Tue, 11/01/2011 - 14:46 | 1833498 hannah
hannah's picture

KD does what he thinks will get him guest spots on TV....

Tue, 11/01/2011 - 13:55 | 1833146 BoNeSxxx
BoNeSxxx's picture

 

 

This is getting ridiculous

vs.

It's getting comical

 

Seems like tomato vs. tom-ah-toe to me...

Tue, 11/01/2011 - 13:57 | 1833180 legal eagle
legal eagle's picture

This is getting redundant

Tue, 11/01/2011 - 14:13 | 1833295 Ruffcut
Ruffcut's picture

It is getting repugnant., with puke and feces covered all over it.

Tue, 11/01/2011 - 15:14 | 1833639 Agent P
Agent P's picture

You can say that again.

Tue, 11/01/2011 - 13:54 | 1833159 Dr Zaius
Dr Zaius's picture

Kengland, I'm failing to understand your frame of reference. I hope you are not actually suggesting that global markets hinging on the media amplified speculation of a socialist politician of an insignificant country (with respect to the global economy) is the sign of a functioning and healthy market. Or, perhaps you are suggesting the opposite.

Tue, 11/01/2011 - 13:57 | 1833185 NotApplicable
NotApplicable's picture

His frame? He's not happy and it's Tyler's fault for not saying what he wants said!

Tue, 11/01/2011 - 14:50 | 1833523 kengland
kengland's picture

My frame of reference is not based on daily frustration regarding why central banks and governments won't let the free market work. If it were, I would be banging my head on the facking wall. There is no free market. Accept that. They have printing presses and control the law. You don't fight that. Ever. They have shown now for 3 years that they have means of inflating and changing the game as they go. To show frustration and confusion at this point is absurd

Tue, 11/01/2011 - 13:55 | 1833171 Popo
Popo's picture

Actually,  most of us were saying it in 2006 and 2007 and 2008 too.  And then the bottom dropped out of the market, and all the people who said it would never happen had a large helping of crow.

 

Your problem is you fail to understand market dynamics, and you prove your position based on current movements.   That strategy will *always* prove the bull case, and disprove the bear case because bull markets are long slow and consistent,  and crashes are exceedingly rare and exceedingly violent events.

So to say that the bears are "consistently wrong" is a statement of the obvious.   Yes of course bears are wrong most of the time -- because bull markets are slow climbs and crashes are once-every-five-year events. 

But with markets trading at 1997 levels, your thesis that anything is being "shoved in the face" of bears is laughable.  The bears have shoved it straight up the ass of the bulls for 15 years now.   And this time won't be any different.

 

 

Tue, 11/01/2011 - 13:59 | 1833203 NotApplicable
NotApplicable's picture

That isn't what he wanted to hear, either.

Tue, 11/01/2011 - 14:52 | 1833535 kengland
kengland's picture

THat was before they showed their teeth

Tue, 11/01/2011 - 14:05 | 1833240 SheepDog-One
SheepDog-One's picture

Go start your own blog then.

Tue, 11/01/2011 - 14:21 | 1833331 DonBadajoz
DonBadajoz's picture

Whats ridiculous is people buying into the story...

Tue, 11/01/2011 - 14:53 | 1833405 fonestar
fonestar's picture

So what the hell is your point?  The extend and pretend can only go on for so long and when the brainless cops defending the Greek parlimentarians lose their shirts too (as they surely will) what is going to save this joke of a monetary union?  How are they going to pretend all is well and fixed when there is blood running on the streets and civil war?  That is pretty clearly where this is all heading.

Tue, 11/01/2011 - 13:51 | 1833139 eureka
eureka's picture

The referendum will be back on in a few moments - or there will be a million greek rock and molotov throwers in the streets of Athens...

ahh, who cares, Greece is gone - and soon with it US and UK - the USUKs  (my term).

All mafia-ponzi schemes come down in due time.

Tue, 11/01/2011 - 13:41 | 1833036 GeneMarchbanks
GeneMarchbanks's picture

Nice to see the "market" is a true believer once again. Cue Merkozy talking about Greece entering a growth period soon.

Tue, 11/01/2011 - 13:40 | 1833037 bnbdnb
bnbdnb's picture

Democracy is dead.

Tue, 11/01/2011 - 13:44 | 1833088 depression
depression's picture

Launch the B-52's: time to carpet bomb europe with fresh $USD

Tue, 11/01/2011 - 14:04 | 1833237 knukles
knukles's picture

Naughty naughty!
Not supposed to preempt Uncle Bozo's formal announcement about the well established but threatened US economic recovery being placed in Jeapordy  (I'll take bullshit for $100, Alex.)  by European financial and economic buggery thereby forcing the Fed's hand to further ease credit though lowering the Funds rate to -7%, announcing QE17, extending Oeration Twist to Ben's Office where the pet stained carpet serves as a nifty "organic" Twister mat, inviting Larry "the Hutt" Summers back for additiotionanl advice and enlist Plugs Biden into a new "Green SHoots Forever" Winter of Recovery public relations tour just after he's done consoling Little Johnny Two Shoes who got sick at the White House Spontaneous Halloween Fruit give away to Underpriviliged Children after eating Organic Raspberries without Washing Them First.

Just Another Day in Paradise, Folks.

Tue, 11/01/2011 - 13:48 | 1833126 OpenEyes
OpenEyes's picture

Those new guys running the Greek military really acted fast...  first day on the job, referendum dead, democracy dead... G-Pap?

Tue, 11/01/2011 - 13:55 | 1833170 nonclaim
nonclaim's picture

He's safe as long as he doesn't hitch a convoy

Tue, 11/01/2011 - 13:57 | 1833189 Zero Govt
Zero Govt's picture

Democracy isn't dead, it was never alive

and this joke is getting beyond a joke... we've barely got 24 hours to gob off on a subject like the Greek Referendum when the politicians do a huge fuking U-Turn and call it all off

How are we supposed to have a democracy when the issues are fired around like clay pigeons!

Tue, 11/01/2011 - 13:53 | 1833150 Belarus
Belarus's picture

Democracy only exists in the vote of the top brass bankers. Everything else is noise. Grow or die, what does anyone ultimately think they will pick? 

None of this is shocking. The only question is when does the big DIP come to load the truck before the ECB and the Fed is forced to print? Everything else is noise. 

Tue, 11/01/2011 - 14:06 | 1833253 zangs
zangs's picture

yea...where's the fucking dip?!

Tue, 11/01/2011 - 13:40 | 1833039 jcaz
jcaz's picture

LOL- until 2pm, that is.....

This shit isn't going to end well.

Tue, 11/01/2011 - 13:42 | 1833069 Comay Mierda
Comay Mierda's picture

a sign of desperation - the regularly scheduled 3:15pm rumor gets pushed up to 1:30pm.  the shit is nearing the fan

Tue, 11/01/2011 - 13:46 | 1833109 Ronaldo
Ronaldo's picture

I am going out to the store now to buy goggles.  Hey this could help the economy.  Tell the Greeks to manufacture shit goggles and make some money!

Tue, 11/01/2011 - 14:28 | 1833385 Ruffcut
Ruffcut's picture

I will only buy goggles that have wiper blades and with AAA (rated) batteries. Otherwise I'm staying with my garden hose.

Tue, 11/01/2011 - 13:40 | 1833041 monopoly
monopoly's picture

And are we surprised? Hmmmm.

Tue, 11/01/2011 - 13:40 | 1833042 tuco13
tuco13's picture

The euro is "Basically Dead"

Tue, 11/01/2011 - 13:40 | 1833043 junkyardjack
junkyardjack's picture

Efficient markets digesting information again...

Tue, 11/01/2011 - 13:48 | 1833075 gojam
gojam's picture

I think Tyler's tweet 'rumour du jour' is correct.

But the market seems to love these rumours. Euro recovering slightly on the back of it.

Tue, 11/01/2011 - 13:41 | 1833045 Bam_Man
Bam_Man's picture

"getting ridiculous"?

It passed ridiculous and moved to farcical absurdity a long time ago.

Tue, 11/01/2011 - 13:42 | 1833063 hyper-critical
hyper-critical's picture

Amen, Bam_Man. BTFD. Wait, check that. Smoke crack, then BTFD.

In other news: http://www.thenewsworld.info/fixing-the-economy-helping-the-homeowners-c...

Oy gevault...

Tue, 11/01/2011 - 14:07 | 1833264 RichardENixon
RichardENixon's picture

I'm in!

Tue, 11/01/2011 - 13:43 | 1833079 I Got Worms
I Got Worms's picture

Ludicrous speed!!

Tue, 11/01/2011 - 13:45 | 1833096 SilverDosed
SilverDosed's picture

Prepare ship for... ludicrous speed.

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

Tue, 11/01/2011 - 14:06 | 1833192 Bastiat
Bastiat's picture

At a glance I read that as:  "fractal absurdity."    Absurd on all scales . . . chaotic interludes cycling into periods of absurdity.  It works.

Tue, 11/01/2011 - 13:41 | 1833046 legal eagle
legal eagle's picture

And the reversal of the decision to reverse the decision to reverse the decision coming in t minus 10, 9, 8.....

Tue, 11/01/2011 - 13:41 | 1833048 Racer
Racer's picture

The only way they can keep it from falling apart is to keep poking in fake rumour of fixes, until the HFTs are no longer programmed to react positively that is

Tue, 11/01/2011 - 13:41 | 1833050 bob_dabolina
bob_dabolina's picture

This is normal in a bear maket. Someone orally flatulates and it creates a hurricane.

People need to slow their roll.

Tue, 11/01/2011 - 13:42 | 1833064 Racer
Racer's picture

This isn't a 'normal' market, nor indeed a 'market'!

Tue, 11/01/2011 - 13:57 | 1833097 bob_dabolina
bob_dabolina's picture

No this is a normal market. 

This is what the market does when people try to fuck with it by obfuscating the truth and blasting it with non-sensical rumor based innuendo. 

Price is always the final arbiter and price is never wrong because at the end of the day you end up with a + or - in your P/L and there is no arguing it. John Corzine doesn't think it's a normal market either, but guess what? The market was right and the price was the final arbiter. 

Tue, 11/01/2011 - 14:01 | 1833213 RickyBobby
RickyBobby's picture

Unless you own CDS on Greek sovereigns and they change the rules midstream...

Tue, 11/01/2011 - 16:54 | 1834217 RickyBobby
RickyBobby's picture

Unless you own CDS on Greek sovereigns and they change the rules midstream...

Tue, 11/01/2011 - 13:41 | 1833051 radarsentinel
radarsentinel's picture

Fade it.Only good rumors come out after 3 o'clock.

Tue, 11/01/2011 - 13:41 | 1833052 fizz
fizz's picture

This market is getting so easy & predictable. Called this 40 minutes ago in the ECB buying article

Tue, 11/01/2011 - 13:41 | 1833054 agent default
agent default's picture

So? Greece is about to default anyway.

Tue, 11/01/2011 - 13:41 | 1833055 oceanview76
oceanview76's picture

We've been overdue for a positive rumor to give the HFT's something to trade on.  Where's Leisman?  FT?  Maybe the Germans can find another few $55B accounting oversights to help solve all of this.  ISDA declares Greece not a total disarray, just voluntary confusion.

Tue, 11/01/2011 - 13:41 | 1833056 midgetrannyporn
midgetrannyporn's picture

The Greek tail wags the USA dog bitchez!

Tue, 11/01/2011 - 13:42 | 1833057 bnbdnb
bnbdnb's picture

G-Pap to make an announcement within an hour! (wishful thinking)

Tue, 11/01/2011 - 13:42 | 1833060 legal eagle
legal eagle's picture

So gold goes up on no referrendum, and down on referrendum, interesting.  You gots lots of splaining to do Lucy!

Tue, 11/01/2011 - 13:54 | 1833163 Mr_Wonderful
Mr_Wonderful's picture

Was thinking the exact same, LOL.

Tue, 11/01/2011 - 13:42 | 1833067 Joe Sixpack
Joe Sixpack's picture

Wait till GPap comes out and says, "no its not"!

 

 

Tue, 11/01/2011 - 13:42 | 1833068 Dr. Engali
Dr. Engali's picture

Getting ridiculous? We passed that months ago. We have now hit ludicrous speed.

Tue, 11/01/2011 - 13:42 | 1833071 qussl3
qussl3's picture

Funny thing is the sooner Greece is "solved", the sooner we all get to talk about Italy and Spain.

Full Retard.

Tue, 11/01/2011 - 13:43 | 1833077 marcusfenix
marcusfenix's picture

hey the rumor mill is back up and running, wtf took them so long?

 

Tue, 11/01/2011 - 13:43 | 1833078 Christoph830
Christoph830's picture

If the word "Basically" was removed would we have seen a 2% rally in ES?

These are the things that keep me up at night....

Tue, 11/01/2011 - 13:44 | 1833083 Cassandra Syndrome
Cassandra Syndrome's picture

What would you think of this if you travelled in time to 2011 from the year 2000?

Tue, 11/01/2011 - 13:46 | 1833110 Tsar Pointless
Tsar Pointless's picture

Not far back enough in time to be of any consequence.

Bring George Washington and Thomas Jefferson back, plop them in the middle of Manhattan, and see what they think.

Tue, 11/01/2011 - 13:52 | 1833145 I Got Worms
I Got Worms's picture

After taking a look around they would promptly march over to Washington DC and start dragging bitches out of the capital by their hair and executing them on the lawn for treason. When done, they would head over to the White House.

Tue, 11/01/2011 - 14:41 | 1833454 Ethics Gradient
Ethics Gradient's picture

Most of the people I know would think "What do you mean I can't just get another credit card to pay the repayments on my other credit cards?", "Who was Steve Jobs and why should I care?" and "How did we end up with another window licker in the White House?"

Tue, 11/01/2011 - 13:44 | 1833084 kito
kito's picture

this is certainly enough entertainment for me now that weve cut cable tv in our home. 

Tue, 11/01/2011 - 13:51 | 1833137 legal eagle
legal eagle's picture

Get yourself a Radio Shack roof antenna, all of the digital channels are floating out there in the air for free!

Tue, 11/01/2011 - 14:05 | 1833247 Hot Apple Pie
Hot Apple Pie's picture

Over the air TV is not just free, it's better quality, too. Cable companies compress the hell out of HD stations to fit more through the pipe. Watching HD on cable is like watching an old, scratched DVD.

Tue, 11/01/2011 - 13:54 | 1833165 SilverDosed
SilverDosed's picture

Good for you, why pay to dumb you and those around you down? If you really need your fix of CNBS go to rentadrone.tv, they have all the fake news stations you can handle.

Tue, 11/01/2011 - 13:44 | 1833086 Cluelesscitizen
Cluelesscitizen's picture

so Pap turns into a scapegoat? The "evil" attempt at justice vote that brought the markets down? F*ckers

Tue, 11/01/2011 - 13:44 | 1833091 Tsar Pointless
Tsar Pointless's picture

More of "zee price stabilitee" to which we've grown accustomed over the past few years.

And I disagree with the sentiment shared by many on this board. These are efficient markets - to the wealthy who run and own them.

Tue, 11/01/2011 - 13:45 | 1833095 apu123
apu123's picture

I saw this on CNBC, just in time to prevent an total implosion today on the Dow.  I bet the next thing will be China/Russia/Brazil are going to bail out the EU.  They tried it twice maybe the third time will be the charm.  I have also noticed that there has not been a lot on CNBC/MSM of Democratic Party Boy Corzine's "astute" leadership of MF Global and that situation.

Tue, 11/01/2011 - 13:45 | 1833098 oceanview76
oceanview76's picture

Shouldn't the triple and double leveraged funds start making their impact felt going into the close?

Tue, 11/01/2011 - 13:45 | 1833101 Everybodys All ...
Everybodys All American's picture

Unless GPAP has been coup de tat'ed one needs to fade dat news. Funny news flow these days as if the clowns are in charge.

Tue, 11/01/2011 - 13:46 | 1833102 Sudden Debt
Sudden Debt's picture

Socialists who made sure the people's voice isn't heard....

ONLY IN THE OLD U.S.S.R. BITCHEZ!!

Tue, 11/01/2011 - 13:46 | 1833112 LookingWithAmazement
LookingWithAmazement's picture

"The Greek PM's Referendum Call is 'Basically Dead'!"

Told you so. Bye bye crisis. Tomorrow rally. Buy bonds!

Tue, 11/01/2011 - 13:53 | 1833153 catacl1sm
catacl1sm's picture

You forgot, "All is normal".

Tue, 11/01/2011 - 13:55 | 1833166 Sudden Debt
Sudden Debt's picture

it sounds so crazy that you're probably 100% right...

 

Tue, 11/01/2011 - 14:05 | 1833241 fuu
fuu's picture

stalling...stalling...stalled.

Tue, 11/01/2011 - 13:46 | 1833113 Motorhead
Motorhead's picture

Whew, I was getting worried for a moment, especially as I recall that Ben Bernanke said gold wasn't money.

 

Tue, 11/01/2011 - 14:31 | 1833397 silverserfer
silverserfer's picture

I think when Ben Bernanke answered Ron Paul and said gold was not money. His answer was "no" but  his complete thought which he did not speak was, " no, its not money. It is beter than this fucking this toilet paper I print for nothing than you all call money.  Gold is power you pin head. Its my goal I want it all. Gold is my precious! Bitch! Get that stupid look of your face! You know damn well gold is more than just money! 

Tue, 11/01/2011 - 13:46 | 1833114 djcando
djcando's picture

As usual, the PPT and the non-ending rumor-mills are hard at work!

Tue, 11/01/2011 - 13:46 | 1833115 Sudden Debt
Sudden Debt's picture

Are you sure it's not because the Chinese might have said they'll fund all this madness?

 

Tue, 11/01/2011 - 13:47 | 1833116 totem
totem's picture

But is it too late?

Thanks to their hero G-Pap (or do we spell that one "gyro"), for the past 24 hours, the citizens of Greece got it into their silly heads that they actually have a say in governing their country.

Tue, 11/01/2011 - 13:47 | 1833117 defn8Dog
defn8Dog's picture

If the Greek, Italian, Spanish, Portuguese prime ministers would put on some big trades prior to making these announcements, they could bail out the whole F*&^ing continent with their profits.  

Tue, 11/01/2011 - 13:47 | 1833119 roadlust
roadlust's picture

What it shows is that the big money in this market REALLY wants it to go up.  Still.  And will screw shorts at the slightest shred of "good news," so beware if you're thinking this junk trades on "fundamentals," and are all in on the short side.

The path of least resistance right now is up with a bounce.  And a day or two back to the levels of last week, and the media will be sayin "Greece doesn't matter."  Sentiment changes and it's off to the races again.  It IS ridiculous.

 

 

Tue, 11/01/2011 - 14:45 | 1833487 roadlust
roadlust's picture

We're still trading over the 20 dma on the SPY, so it's still a "bull market," and there's a gap now to be filled, so watch out for a huge gap up manana with the "good news" that Greece "is fixed again," "doesn't matter," "GDP is higher than expected," "the Fed will do QE3," "unemployment isn't as bad as expected," etc., etc.   You need to be positioned for the least "fundamental" outcome, based simply on possible news headlines, and then watch CNBC spin, and GS algo it there for you. 

Tue, 11/01/2011 - 14:45 | 1833488 roadlust
roadlust's picture

We're still trading over the 20 dma on the SPY, so it's still a "bull market," and there's a gap now to be filled, so watch out for a huge gap up manana with the "good news" that Greece "is fixed again," "doesn't matter," "GDP is higher than expected," "the Fed will do QE3," "unemployment isn't as bad as expected," etc., etc.   You need to be positioned for the least "fundamental" outcome, based simply on possible news headlines, and then watch CNBC spin, and GS algo it there for you. 

Tue, 11/01/2011 - 13:47 | 1833121 Taint Boil
Taint Boil's picture

 

 

Smear my ears with jam and tie me to an ant hill ......2500 reads in about 3 minutes ............... how many people are tuned in to Zero Hedge? I have been here all day and I can't even keep up .............

Tue, 11/01/2011 - 13:49 | 1833129 Motorhead
Motorhead's picture

2500 reads.  Man, that's almost as many times the Europeans have said the Chinese would come to the rescue.

Tue, 11/01/2011 - 13:48 | 1833124 Village Smithy
Village Smithy's picture

These so called "news reports" have one objective, to shit on anyone who is short anything and severely limit that behaviour.

Tue, 11/01/2011 - 13:52 | 1833144 Note to self
Note to self's picture

They are replacing generals.  I'm thinking we've moved past squashing shorts.

Tue, 11/01/2011 - 14:52 | 1833542 silverserfer
silverserfer's picture

I thought being short or long had to do with the size of your unit? Dont't get caught short by the longs or they will spank your peepee! And the longs better not get caught naked because the shorts are assholes and you dont want to bump into one or those fuckers. Then the shit really hits the fan.  

Tue, 11/01/2011 - 13:50 | 1833132 magpie
magpie's picture

Happy All Saints Day, or rather "Miracle Tuesday" once again.

Tue, 11/01/2011 - 13:50 | 1833135 soopy
soopy's picture

There, I fixed it.

Tue, 11/01/2011 - 13:50 | 1833136 soopy
soopy's picture

There, I fixed it.

Tue, 11/01/2011 - 13:53 | 1833151 Cone of Uncertainty
Cone of Uncertainty's picture

Fucking twighlight zone and I want off.

Tue, 11/01/2011 - 13:53 | 1833155 Hot Apple Pie
Hot Apple Pie's picture

Thank you, Greece. now I can buy back some of the puts I sold this morning.

Tue, 11/01/2011 - 13:59 | 1833205 Hot Apple Pie
Hot Apple Pie's picture

LOL. I literally bought the puts, posted here, and then switched back to the charts and saw ES plummeting like a plane on fire. Some days it pays to be sitting in front of the computer.

Tue, 11/01/2011 - 13:54 | 1833164 carbonmutant
carbonmutant's picture

There has to be a sitcom here...

Tue, 11/01/2011 - 17:02 | 1834261 fuu
fuu's picture

Days of Our Lies

Tue, 11/01/2011 - 13:56 | 1833178 Nothing To See Here
Nothing To See Here's picture

Next rumor up : MF Global to be bailed out, then bails out Greece!

Tue, 11/01/2011 - 13:56 | 1833179 Cone of Uncertainty
Cone of Uncertainty's picture

Fuck this shit, if we don't finish below 1215 on the S&P, I'm throwing my fucking Factset and Bloomberg machine out the window and going to go get drunk.

Tue, 11/01/2011 - 13:58 | 1833196 legal eagle
legal eagle's picture

At least YOU have a plan!

Tue, 11/01/2011 - 13:57 | 1833186 lolmao500
lolmao500's picture

Italy spread is at 442 points and closed for now... 450 must not be reached or else big banks in Europe blow up.

Tue, 11/01/2011 - 13:57 | 1833190 Cult_of_Reason
Cult_of_Reason's picture

The stupidity of this market is getting ridiculous.

Greek Socialist Party official says, "The Greek PM's Referendum Call is 'Basically Dead'!"

The stupid dog knee-jerk reaction is a ~1% rally in S&P futures and 90 pips in EURUSD

Nobody is questioning as to why it is "basically dead".

It could be “basically dead” because Greece will default tonight (no need for a referendum) -- G-Pap will step down and Greece will default.

Tue, 11/01/2011 - 14:00 | 1833208 legal eagle
legal eagle's picture

Memo to Cult_of_Reason,  "getting rediculous" "getting comical" and all such references to end of rational patience shall henseforth be banned from ZH.  Please read above.

Tue, 11/01/2011 - 14:10 | 1833277 Cult_of_Reason
Cult_of_Reason's picture

I do not understand your Memo.

Please explain.

Tue, 11/01/2011 - 13:58 | 1833198 Matt1973
Matt1973's picture

Rumor half life....20 minutes

Tue, 11/01/2011 - 14:01 | 1833214 legal eagle
legal eagle's picture

LMAO, I first read it as "humor half life....20 minutes" which would also be accurate.

Tue, 11/01/2011 - 13:59 | 1833199 dcb
dcb's picture

can't let deomcracy get in the way now can we!!!

Tue, 11/01/2011 - 13:59 | 1833201 Bastiat
Bastiat's picture

Could be that GPap received a message that he was "basically dead" if the went through with it.

Tue, 11/01/2011 - 14:17 | 1833313 Mark123
Mark123's picture

If he was an Arab a smart bomb would already be on its way and Sarkozy would be ranting on hysterically about saving democracy and protecting civilians.

 

Lucky for Gpap he is not Arab, nor does he have any oil.

Tue, 11/01/2011 - 15:38 | 1833757 knukles
knukles's picture

But they have a butt load of Gold....  144 tonnes or thereabouts :)

Tue, 11/01/2011 - 14:00 | 1833206 NotApplicable
NotApplicable's picture

So, I've lost track. Is this game on, or game off?

Tue, 11/01/2011 - 14:17 | 1833310 s2man
s2man's picture

Am I supposed to by or sell?

NA, Your avatar just clicked in my brain today. Is that a Frenchman? It would look like me, if it weren't wearing a beret. 

Tue, 11/01/2011 - 14:32 | 1833406 walküre
walküre's picture

S&P at 1400 by Christmas /sarc

Tue, 11/01/2011 - 14:00 | 1833212 bnbdnb
bnbdnb's picture

Well I bought the top and bottom today on the euro. Yay, go me.

Tue, 11/01/2011 - 14:02 | 1833219 FinalCollapse
FinalCollapse's picture

The goverment falls. The new goverment rejects all G-Pap deals. Greece defaults. How this can be good for Euro? 

Tue, 11/01/2011 - 14:06 | 1833226 xcehn
xcehn's picture

Greece is a mere pawn, obviously in the pocket of the Eurocrat bankster puppets.  The only hope for the Greek people appears to be a difficult revolution.  Apparently the military is being shuffled to ensure that any potential coup results in continued oppression of the people.  Down with banksters, corrupt Eurocrats, and oligarchies!

Tue, 11/01/2011 - 14:02 | 1833228 sbenard
sbenard's picture

The referendum is "basically dead"?

Funny! That's precisely what I thought about Europe!

Tue, 11/01/2011 - 14:05 | 1833244 marcusfenix
marcusfenix's picture

looks like the rumor didn't even last 20 mins...rally is over already as it appears the referendum is indeed still on and the citizens of Greece may still get their chance to tell their EU overlords to go fuck themselves.

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