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S&P Hits Post-2008 Highs
The S&P 500 index just touched 1427.83 (up 1.75%) - surpassing the recent highs and back to the local swing highs of 5/19/08 (1440.24 highs that day)... that is all. VIX is down 1.5 vols at 16.25%
be a little wary though as we just saw some bigger blocks come through as we crossed the highs...
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Fraud show.
Weeeee, Happy Days are hear again, da da de de da.......
Just shoot me now.
see, Bernankes "feel good factor" off the markets just ain't workin
another Fed fantasy/fallacy bites the dust
do they actually have an economic policy that works?
That's like asking if a magician can really saw someone in half alive.
So all the bad investments are now on the Fed's and tax payers balance sheets and the market is where it was when it was private investments ('08). Soooo... the unemployed tax payers are going to... revolt? This is an entertaining shit show!
And look at that low volume! Its all an orchestrated rally so its going to be an orchestrated crash/chaos.
crash/chaos, by definition, means it is not orchestrated
Would you be happy if stocks were down and fiat was up? The fiat that backs the MIC?
This is the plan, man. The ruling elite found hundreds of years ago that by forming corporations they would not be held lieble for their manic actions of outright greed. So now governments fail and corporations win.
Those who participate in the stock market should try to take advantage of the various situations that arise. If governments make mistakes, we should use them. If policies are favorable, we must seize them. If they act, if they act, if they do well or badly. While there is an opportunity we must seize. The market is not crazy or wrong. This advantage (while you can) of current monetary policy.
Queue the idiots (RoboTrader, MillionDollarBonus, et.al.) who will start pumping and not mention a word about NOMINAL vs. REAL...Idiots in 3,2,1...
Not idiots, performance artists.
And by "performance artists," I mean idiots.
Buy the Fucking Top.
Deflation is coming!
Deflation is coming and the dollar will rule the day! The dollar is easily the greatest investment available! If you have $1 today, then you will have $1 tomorrow.
King dollar!!
It a new Era...the Golden Era...for stocks
Glad to see jobs and housing back! Oh, and a sound budget and a crack down on corruption. Long live the USSA!!
Long live Scarlet Johansen and Clint Eastwood!
Excellent conincidence, with barack scheduled to accept the nomination and all. Must be pure luck. Now I know that barack has irish roots too.
Also now hussein can claim the markets are higher than when bush left them. WHERE CAN I VOTE!
Watch the price of gasoline; that's the tell.
Spastica,
You obviously didn't watch BEN conveniently smash oil 2 hours before close - Dropping over $2.25 in price, AFTER a reported supply shortage of 22 million barrels. Telling you, nothing is to big or small for Fed micro-management.
There's gonna' come a day when they wish there were some shorts left to help with the brakes.
Don't need shorts anymore. Central planning and software that stops all trading if it drops below a pre-programmed amount should give everyone confidence it's not just a bunch of printed numbers.
I should just quit my job and sell my house all for the purpose of buying STOX right guys? They are fully backed with the tax money of the oh-so-prosperous and oh-so-employed Europeans. /s
And be just like the people that cashed out their 401K to buy a house back when it was a sure-fire money maker. Central planning is a wonderful thing.
Absolute insanity.
DavidC
Let's please take a moment of silence to those who we lost a few weeks ago in the tragic VXX buying accident.
Lately life has resembled a bad William S. Burroughs book adaptation.
I'm sure Ben is patting himself on the back right now...
no that's Tim and Barry with the begging bowls
Why be wary? The elite are all in on propping up the fraud at all costs. The basic calculation is to ride the fraud wave along with the fraudsters. Betting against will only pay off when the whole system comes crashing down, and what kind of payoff do you expect in those circumstances.
I can't hold my nose and follow the above advice, but the logic, appalling as it is, seems just about airtight.
Betting against what? The fraud?
The fraudulent system is based on the gold held as reserve on the balance sheets of the Central Banks. This is why the greatest lie in finance is that we are not on a gold standard. We are. It is just that they gold standard is manipulated to the financial tool de jour.
They use the gold held on reserve to finance loans so that the States like China continue to buy bonds. China buys the bonds and takes the lease, so that when gold rises even if there is inflation (there is, all asset prices are rising) they make some cash.
Gold backs the system, you just can't get to it. Thus why people like Faber say, "Be your own bank and own gold."
Benny Bernanke and the Fed will keep the market going up until after the election. Bernanke will ensure Obama's re-election and Wall Street year-end bonuses.
+1 I'm sure benny is happy he will get to keep printing and keep obaMAO in office it's a two fer
S&P 500 Above 1,200 Means Obama Wins: Economist
If S&P stays above 1,200, Obama re-elected: charts"It is important though not to confuse correlation and causation according to Dales, who says Obama’s re-election chances, like the S&P 500, are being driven by the economy."
AHAHAHAHAAHHAHAHHAHAHHAHAHAHHAHAHAH
Snicker I know too funny
So, this is looking good for the all need QE to infinity how exactly? Just when I think this market can't get any more ridiculous...it never fails to surprise.
100 CRUDE.. Yipeeeeeeeeeeeeeeeeeeeeeeee.. US gov fucks the world again.. this is surreal.
Obozo Energy Secretary Steven Chu -- “Somehow we have to figure out how to boost the price of gasoline to the levels in Europe,...”
Well, the heavy hand of the FED is NOT going to miss the opportunity to slam this higher today.
I wouldn't be surprised to see the SPX jacked up 40 handles by the close. Why not? What's going to stop them?
401(k) participants will be in a lather of ignorant excitement.
Rewind....Then press play on tape again. That's the motto :)
I was under the impression that each time they rolled out a pack of lies to pump the market it would become less and less effective. It seems that may not be true. Draghi is piling lies on top of lies and it becomes MORE effective every time...
I thought the script was that Wall St. would crash the market just before the election so Romney could win??
That movie is opening after September 13, when Chairman Ben quashes all hopes of further QE.
The S&P 500 (Right Before QE3?)
@Tsar;
BULLSHIT! Why...Or better question, HOW? We've been shown for last three years that its not what they do, its what they say - Right? So Ben, come Sept 13th CAN say something like this: "After reviewing US economic progress Federal Reserve stands ready to take action IMMEDIATELY....if needed". Bam - Tack on 500 dow points. Set a new date for assholes who think that substance has something to do with all this.
If you didn't see this coming, or are shocked, may I ask where in the hell you have been since March 2009?
I keep thinking that any moment now reality is going to set in but that sure doesn't seem to be the case right now. I wonder if they will drive Apple up to a trillion dollar company.
AAPL not following along for some reason ... hmmm.
this is absurd......this is the start of a blowoff top, on oct12 ill be short as danny devito
Let's not be gloomy about stocks reaching new highs, monthly central banking intervention seems to increase with each year (whether hidden or not) so in a way we are in constant QE mood. The Dow is going to 15000 and probably beyond that, at the very least we can make a bomb on the climb upwards.
And if you really feel that bad about it, convert some of your hard earned profits into physical gold because that will skyrocket to in price.
Why do I get a sickening feeling when these things happen...?..
because you're still clinging to remnants of the "old reality".
"The only hope you have is to accept the fact that you're already dead. The sooner you accept that, the sooner you'll be able to function as a [post collapse survivor] soldier..." -Captain Speirs 506th
I would resist the urge to short this violent trend day today.
One needs to remember the Dog Eater in Chief is speaking tonight.
This is an inflation run up...to me that service sector report was all inflation......
AMZN new lifetime highs, running over "seeking alpha" Graham-inspired shorts with a PE of 307 right now.
I always root for the underdog - which sucks because they almost never win...
Bob Pastrami says we may be on the verge of multiple expansion (I watch for self-immolation), Thomas Lee was trotted out calling for 1500 by year's end, and Maria yesterday said money must be coming in because the markets are up. =/
My point being, as the game looks like yet another lost cause, this one is not over, these markets are going to fall, and HARD. The S&P is a pile of stinky SHIT yet 'managers' are going to chase right into the blowout. Setting up for a down-by-a-mile comeback.
The more ludicrous it gets, the better, I hope the S&P hits 1700 this year - it's going to make the 20/20 hindsight stories THAT MUCH BETTER. Can't wait to see the youtube vids of pre-collapse "who coulda thunk it?" (with gas at +5 bucks)
Millions of people, tiny door. Central bankers never saw a string they didn't want to push.
100 crude. Yea that should get Europe out of a depression. Thanks Ben. Signed ... Citizens of the Euro zone.
Carl Q. on cnbs just said, "brick by brick we build this thing"
Had to state the obvious that it's "card by card"
A Big "Boo Yah" Jimbo from MuppetVille!
Free money in the stock market. Glad I am all in. You know they are going to print folks.
Anyone have a link to the ZH post that showed the price to book ratio of the S&P 500 was twice as high as every other country in the world?
Found it:
http://www.zerohedge.com/news/some-stock-markets-are-more-equal-others-g...
All this really means is that the powers that be and Wall Street don't really care who the President of the United States is....why should the common everyday ordinary muppet care who is President?
just about at my target pointfor the top
Isn't it obvious how fraudulent it is?
Notice how each round of "stimulus" gets you less and less. We are fairly close to the top now, but, as always best not to try to call it.
Yup. You can actually connect all the peaks and inflection points mid-range of the multi-month cycles using curves that are logarithmic. The easy way to visualize this is to raise all prices using an exponent.
1.05 to the power (price) is what I did. Connect the peaks, dips, inflection points into lines (many are parallel lines) and then re-map back to normal price-scale (log graph_value base 1.05 is what I chose) and voila - the curves are obvious
http://flic.kr/p/a1db7f
Awesome. It's climbed all the way back to when the crash started.
Now adjust for inflation. DOH!
dow price prediction ivars zerohedge and tfmetals, adjusted by goldpricemodel
Same story.
Loading up on vxx, faz or anything else inversely moving with the S&P > 90% correlation. It's only a matter of time now. 90days? no question. 30 days? Perhaps a little testy though if one would like to use SPY puts or VXX calls and does choose enough time off from expiry ... I imagine the reward will be impressive