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S&P Futures At Tipping Point On German Finmin Grexit Chatter
The market was just starting to digest the schizophrenic Durable Goods data when chatter broke of the German FINMIN discussing a 'temporary' GRExit. In other words, just like Mario Draghi could transmogrify the twilight zone into reality during Merkel's vacation, and spread unfounded rumors that Europe is fine, now that the Chancellor has returned, the rumors take on the other side of the equation, and the mice no longer can play. This pushed S&P futures below overnight lows (down about 5pts from Dur Goods), EUR down 40 more pips (-75pips from close), and 10Y Treasury yields dropped 3bps (down 6bps from their overnight open). As we stand S&P 500 futures appear poised at an important trend-line tipping point in this move as Draghi's dreams are delayed to mid September and the world stops believing - as there is market talk also that Netherlands, Finland, Slovakia and Estonia are said to back the German plan.
S&P 500 e-mini futures at trendline decision time (red arrow)...
EUR disappointed...
Elsewhere, this is the caption we have all been waiting for:
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Does this mean that the DOW might actually go down 0.1% at some point or will we have DOW 14,000 by close of business tonight?
Just Fecking "DO IT" Already ...
All is Not Lost, They still make great Souflakis!
Obama can fix this, if he is given the necessary powers that is...
LOL
I figured my sarcasm would be obvious, but it obviously wasnt...
-1 for FAIL
the major indices will only crash if priced in gold
DJIA/Gold ratio will probably reach 1.00 at the height of the coming dollar collapse, then i will sell my gold for stocks
I think you are missing the point of "The Most Important Chart in the World". Stocks have been de-valuing in real terms for about a decade; that's what that graphic represents.
Out of Au and into the (more easily manipulated) stock market? That is a well thought out plan with little to no chance of backfiring. Also, you are very intelligent.
why dont you take a look at the dow/gold ratio in the late 70's early 80's genius
at some point, not soon though, gold will become a bubble. i will exchange it for stocks, let them run, then buy gold after it comes down again
only idiots buy and hold any asset forever
They have truly run out of jawboning, options and time.
More importantly Merkel and friends are clearly marking the line.
Enough is enough as it were.
Whatever the route taken by the European authorities, these will have a negative effect on the market. What happens, is that a way can be a good solution to long term. However, there are other ways that can lead to disaster. But all these roads will be filled with stones.
We'll see how political this gets...
Barack Obama asks eurozone to keep Greece in until after election dayUS officials are worried that if Greece exits the eurozone, it will damage President's election hopes
http://www.independent.co.uk/news/world/europe/barack-obama-asks-eurozone-to-keep-greece-in-until-after-election-day-8076852.html
German Finance Minister Rejects Greecesnip
"German Finance Minister says no to giving Greece more time
German Finance Minister Wolfgang Schaeuble told a public radio Thursday that granting more time to Greece to implement reform is “not a solution” to its problems.
“More time is not a solution to the problems,” Schaeuble told SWR radio Thursday. He argued that granting more time to Greece for its reform implementation would mean more cost for creditors.
“The question is how we win back trust of the market,” he said, urging Greece to keep the time line as agreed originally."
Nice bank run in Vietnam too, theyre grabbing the Dong BANK RUN IN VIETNAM (Who is connectingdots3) - YouTube
Everybody take posession of your Dongs, quick, and hold on with both hands!
A great deal of pressure is being felt on the Dong. If the Dong masters can supply adequate liquidity then the pressure will be relieved, but it will surely build again and again.
It looks like EURUSD is pulling it down.
http://blog.quantsig.net/2012/08/24/eurusd-begins-convergence/
I just have to say this: Bullish!
Don't worry, it'll go back up just in time for a positive open, then have a mystery ram-rod moment higher, then drift sideways into the close for another feel-good Friday moment.
What charting software is the E-mini SP futures being shown on in the first chart? Doesn't look like bloomberg, but looks pretty good, thanks.
Yeah we'll go to 1375 and then Hilsenbarf will throw out a QE bone.
at 3:30 set your watches
Theyre going to try gliding a 747 on fumes for 3 months....good luck Beardface we're all counting on you.
I have to concentrate... I have to CONCENTRATE... Hello [Hello] Echo [Echo]... Now pinch hitting for Pedro Borbon ~ Manny Mota...
good luck Beardface we're all counting on you.
Win one for the 'Zipper'
Looks like I picked the wrong day to stop leveraging short.
Caption: Thats right, you walk just behind me, like the Queen.
Is Merkel saying "This is how you get a good grip?"
No wonder the guy behind her has a big smile on his face.
"Gosh Angela, you do look lovely in a pants suit. Did you lose weight on vacation?"
"Aren't you glad none of those rifles are loaded?"
Storming higher and back to parity right now.
<hands up in the air> WHEEEEEE
Something wierd happening in the European banks this morning.
My transfers are not being executed.
Anyone else having problems ?
Would not be surprised in this environment. Bank holidays soon.
i think i have your transfers right here actually...
Finally they went thru.Six hours vs normal two.
ATHENS/BERLIN (MNI) – "The German Finance Ministry is seriously
considering a plan in which Greece would be obliged to ask for a
temporary exit from the Eurozone until it sorts out its public finances,
senior Eurozone officials told MNI."
http://bit.ly/PM2CN0
caption time: Yes mommy!
AP: Merkel and Draghi cheerfully face firing squad for crimes against humanity
These soldiers had been ordered to shoot the Greek PM if he would give Merkel a Fakelaki in return for a Rousfeti.
“Netherlands, Finland, Slovakia and Estonia are said to back the German plan"
What Hitler could not achieve with all the military might and devotion of his people, the technocrats did without a bullet, legally and with consent of other countries – enlarge German living space and establish colonies all over Europe. In return the Germans promise slavery for the 1000 year Reich. Nothing changed.
You should read current events rather than history. That old and worn cliche is inept.
Germany has a strong savings base, a cautious credit shy consumer segment, and unbeatable exports. It is now the anchor and pivot for the European Union.
Current German economic strength is its fiscal discipline., and has, this half year a budget surplus.
Maybe you should try keeping the should's to a minimum. Nobody here is your wife.
As the Tylers have repeatedly pointed out, the German "economic miracle" is mostly channel-stuffing.
Harumph.
ausgezeichnet
Dow 36,000 here we come.
AND ES goes green in 5, 4, 3, 2, 1....
Merkel : you know you really are a worthless piece of shit. If you try another move like that while I'm on vacation these soldiers will have their guns pointed at you.
'temporary' GRExit as temporary as the European Financial Stabilisation Mechanism (EFSM)?
yea cause after all 96 crude is gonna help get the euro zone out of the depression. They institute austarity.. and so do we. Just take it!
The grexit will be transitory for sure
The fuse is lit! Legit timeline for economic doom.
Merkel : 'I think a li **** came out in that fart!'
Market News International is reporting that the German Finance Ministry may ask Greece to exit the euro “temporarily” while it straightens out its finances.
They are going to let Greece go in early September and let the FED/ECB/G20 meetings pick up the pieces
Jig is up Mr Panos!
Caption:
Geli - "Now you stand right here while I walk over there where those nice men are."
Let it all crash and burn...for then the phoenix rises
There will be *NO* GREXIT nor a EURO-Breakup!
The Finance Ministry should clarify this position with the Chancellery and TPTB. The Chancellor and TPTB say otherwise!
TPTB whisper: ... no GREXIT... one-World Govt... grab assets in Greece... less national sovereignty in Euroland... no Euro breakup!
Edit: @Tyler, you did you mean the markets were tipping up, right? I see a big spike up on my screen!