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Defaults shmefaults, where's the iPhone?
Right. I hear it has speech to text. ROTFLMAO.
Haha. Pretty soon they will have a phone that allows two people to talk to each other?
I hear the key feature of the new iPhone is that Bernanke can print them.
No, no, it lets everyone print as many idollars as they want, which will be all be backed by corresponding U.S. dollars courtesy of The Bernank. There, fixed it for you.
Yep, as I said a while back, even the Fed won't fight the Fed any more. Got physical? Yes? Fucking hide it, because otherwise it will be confiscated. This is not a you average liquidity trap, this black hole will suck everything in.
Speaking of "ROTFLMAO", there's a market for that - http://www.youtube.com/watch?v=2bZXCkoRs5g
So it goes!
I tried to contact the first three but apparently they are all in Chile now.
You've got to study Jesse Livermore first.
So is this guy just telling me to "buy and hold"? Pretty much everything "bounced back" in 2009. This is pretty lousy advice.
Reading comprehension clearly wasn't your strong point in school. The article just states that RETAIL is not selling because they remember how quick the bounce happened in 2009.
He isn't providing advice, he writes commentary on how the market is behaving. Usually his ideas center around credit and equity market signals.
"Retail seems comfortable holding " is an observation.
When did "one" go long?
John Holmes did well, going long. Robo, IQ45, dangertime, hamy..I'm not so sure.
I went long a couple of weeks ago. I am dollar cost averaging on FCX.....but still feeling pain. Although I am not worried. I'm confident I will be very green within a few months.
You expect QE3 that soon then?
I posit that the market has reached an extreme point of selling and will snap back over the course of 6-9 months.
I anticipate that we do not necessarily need QE3 for that. Although some "news item" will take the credit for the market reversal.
Sure, the market will come back. Just as soon as the computers leave and the customers/people/suckers actually come back.
I would disagree with your proposition.
I do agree that at some point, a extreme of selling will have been reached and a rally will occur from that point.
I just don't think we are there yet.
And we're back to square ONE!!!
"Hi my name is Peter, and I'm a Short. It's been 1 day since I've been Short."
How's that relapse feelin Pete?
Looks like the intraday charts are rolling over - afternoon flush...? Hell - I'll even say we set new daily lows before close.
Not much confidence in that call... but any short covering today has been light...
Flush sounds about right.
All these MSM outlets are pumping at this hour the QE, which Bernanke hinted on. Do you know in what context Ben said he would use 'additional measures'? Arma-fucking-geddon in Europe; Lehman 2.0 first, QE thereafter.
Delusion is still running at elevated levels at this hour.
Dear Peter, If you have conviction, please come out and say it. Otherwise keep your vague opinion to yourself.
have to agree about the lack of upside follow through. Although the lows were exactly spectactular, in that there was NO extreme rejection of them with wild spiking activity where Everyone suddenly considered stocks overall a deal....we did get a nice push. I'm watching 110.50 in SPY, and in XLF 11.35, essentially the old low. Without progress there, door remains open to re-test the low.
I agree, I trade the FTSE and this am (europe time) we wend down in formation with the DAX etc - no suprise at all. Then we took a breather for an hour or so of chop before heading lower on shrinking volume as the US markets opened. We were off the lows and making very slow progress to the upside as BB started to talk. He gave the market a small lift and a chance to exit recent longs (for a very thin profit) before we ground to a halt shortly before our close. Considering the recent sell off, it was a very tame bounce indeed.
Certainly his comments have not given the commodities a lift, so I think the sell off resumes from here. The deeply suspicious speculator in me wondered at the time if his comments were just meant to take the steam out of the general sell off. I have a feeling that the air is being let out of the balloon now and that no shock and awe printing is on the horizon.
So far, there have been more rumors of bailouts than actual improvements in the financial system.
According to plan. The police tell you everything is okay at your front door while you are being robbed out the back. just waking up are we?
What the fuck just happened to gold and silver.!!!..?????
Is that what the Fucking Pig-Dog Manipulators do with Negative gold lease rates.!!!...????
They sell short 1000's of contracts (paper) to volitize the trade so that they can raise margins (see look at how volitile this market is folks). The CME runs this game with paper certs like the Bernank runs the economy with the printing press.
are they in the same business................................................?
Who is in charge of the VIX anyway ? Well looky there - it's the CME.
Yes, but I don't think margins can exceed 100% whereas we still have a lot of trees to make paper for Ben'sprinting press.
Gold and Silver are tracking the general commodity sell off. BTFD dude. They have only two choices. Print or roll out new currency. The debt loads are un-payable and the banks are in trouble once again.
They are using PM paper proceeds to prop up the market.
May be just seeing rotation from HG to HY. But that means the wad is shot and more downside will be brutal.
There is upside risk in the SPX to 1275. Yes, I know that sounds impossible. And it probably won't happen. But it would help to build up the energy required to make our way back to the 666 low of March 2009. Risk that pan-Atlantic policy responses crush shorts is high. And btw, we are hitting multi-year extremes in sentiment. Beware.
yep, i just posted the same thing (kinda) on another story here @ZH... either a temp low was put in earlier (sp 1075) or maybe we go just a little below that (either today or next few days) , but i predict a rally very soon to 1250-ish , but then it's lights out !
Peter said 'it's just a weird feeling being part of the consensus.' Being permanently contrary is good? Sometimes, on those rare day, the majority is correct. Greek is out. Italy is in the box and the pitch was high and tight. Spain is on deck. The old empires are about to die yet again.
I understand Peter you getting baited into going long--though I haven't. All those short squeeze rallies, aglo lifting miracles makes you think any annoucement at all of a coordinated effort to "save" Greece yet again, any inkling that this economy isn't falling off a cliff, and you could see a huge bounce. Clearly, you reversed your trade for risk management. But I just think all bets are off the table until QE3 is immenent (Bernanke says "there are NO current plans in place for QE3) or not.
Until then, seriosusly, everything is noise. Even if Greece is "saved," which I using liberally as per putting the word save in quotes, all it will mean is a short term rally in stocks. It will do nothing for our economy here save systemic risk for a little while longer and once our contracting economy comes back into focus any rallies will be short lived.
Just stay patient grasshopper. Don't fight the Fed--LOL.
Completely useless post.
no, he was wrong, but it's a good post because he had the courage to make a prediction. most of these people don't
Aapl killing the Market.
What happened to Apple? Did somebody find a worm in it?
....with a large portion of their sales in China and overseas......a recession over there does not exactly bode well for them.
Ben Beefed up the Markets this morning...lol.
We are now officially in Plunge Mode.
Probably because most have figured out by now that his beef consists of 80% fat and gristle.
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