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Spot The Odd One Out

Tyler Durden's picture


Yes, it's happened again. One of these markets is not like the other ones.

Stocks have started their reversion to the short-term normality in Gold, USD, and Treasuries...


which put another way is a reversion in the nominal price of stocks in gold...

and stocks ignoring high yield credit's less sanguine view of things all of a sudden...


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Fri, 07/20/2012 - 14:47 | 2637185 mrktwtch2
mrktwtch2's picture

nice colorful charts!!..of course as we all know that they dont really matter..

Fri, 07/20/2012 - 14:53 | 2637217 Race Car Driver
Race Car Driver's picture

How can they? All the numbers represented above are the result of market distortions, suppressions and manipulations. The charts merely put same in graphical format... the numbers are still fucked.

Fri, 07/20/2012 - 14:56 | 2637232 Stoploss
Stoploss's picture

Thanks Ben we new the drill.



Fri, 07/20/2012 - 14:56 | 2637238 NotApplicable
NotApplicable's picture

They still have meaning, as they illuminate the magnitude and direction of all of those distortions, suppressions and manipulations. They just don't mean much from a market perspective.

Fri, 07/20/2012 - 15:08 | 2637309 Dr. Richard Head
Dr. Richard Head's picture

Meaning?  Pffffffttttt...You can't eat stocks priced in gold.

Fri, 07/20/2012 - 17:14 | 2637776 sessinpo
sessinpo's picture

You can't eat anything on those charts. If you want to eat, plant a garden.

If anything, these are brief snapshot of flows of liquidity which isn't very helpful without volume.

Fri, 07/20/2012 - 14:54 | 2637228 JPM Hater001
JPM Hater001's picture

I was really hoping for recovery...I really was rooting for 13000 this time...I wanted the bond market to bound ever higher...unless of course it doesnt happen. 

In which case I want a pony.

Fri, 07/20/2012 - 14:58 | 2637253 NotApplicable
NotApplicable's picture

Wait, you haven't gotten your pony yet? You should contact "your representative" immediately, if not sooner.

Fri, 07/20/2012 - 16:19 | 2637630 Treeplanter
Treeplanter's picture

Obama will buy you a pony.  All you have to do is believe. 

Fri, 07/20/2012 - 16:45 | 2637701 Lucky Guesst
Lucky Guesst's picture

if you do get a pony and want to safely invest go to the feed store and fatten him up. You may have to eat him someday.

Fri, 07/20/2012 - 14:55 | 2637229 Oracle of Kypseli
Oracle of Kypseli's picture

Soon enough these charts will reflect the truth and that's when they will not matter most. Paper burns.

But something else just melts when heated to 1947.52 °F. But then.. metamorphosis back to original not even a small grain of ash.

Fri, 07/20/2012 - 14:47 | 2637186 Yen Cross
Yen Cross's picture

 xau ( ding ding)

Fri, 07/20/2012 - 14:54 | 2637224 magpie
magpie's picture

A scary thought passed me by - would it be possible to HFTize and momofy Gold ? A parting shot by the fiat ponzi ?

Fri, 07/20/2012 - 14:56 | 2637235 The Final Countdown
The Final Countdown's picture

Isn't that what GLD is for?

Fri, 07/20/2012 - 15:01 | 2637268 NotApplicable
NotApplicable's picture

It will be once all of the FCMs are gone that have clients who demand delivery from a Crimex vault. I wonder if Celente has tried again since being Corzined, for example?

Blow up the loading dock and the algobots will own this "market."

Fri, 07/20/2012 - 16:22 | 2637639 Treeplanter
Treeplanter's picture

What has Celente ever done for The Party?

Fri, 07/20/2012 - 17:17 | 2637780 sessinpo
sessinpo's picture

Oh, Celente is a hoot in a party once you get a few drinks in him. Oh, sorry. Wrong type of party.

Fri, 07/20/2012 - 20:52 | 2638135 Divine Wind
Divine Wind's picture

You can learn more Italian mobster names listening to Celente that a DeNiro movie.

"But if the White Shoe Boys has names like "




Fri, 07/20/2012 - 14:48 | 2637193 Calidreaming
Calidreaming's picture

Ok its about time to Cue in Last hour Robot buy program...........

Fri, 07/20/2012 - 14:48 | 2637197 nobusiness
nobusiness's picture

Market won't fully correct until next week.  My July 20 135 SPY Puts must expire worthless first.

Fri, 07/20/2012 - 15:07 | 2637305 OutLookingIn
OutLookingIn's picture

"Fully correct?"

How do they correct from a falsehood?

A falsehood is a lie. The spoonfed numbers are false. Ergo ~ believe the lie? Or not.

The charts will do exactly what the manipulators want them to do. No more, no less.  

Fri, 07/20/2012 - 16:15 | 2637616 nobusiness
nobusiness's picture

OK, Crash can commence next week.  I am always a week too early.

Fri, 07/20/2012 - 16:23 | 2637642 Quantum Nucleonics
Quantum Nucleonics's picture

By fully correct, do you mean S&P going to 600?

Fri, 07/20/2012 - 14:48 | 2637199 Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

Welcome to Costco, I love you...

Fri, 07/20/2012 - 14:58 | 2637249 Mugatu
Mugatu's picture

"I got my law degree from Costco"

Let see how many people know which great movie this comes from.  Funny part is the entire movie is becoming reality.  

Brought to you by Carls Jr.

Fri, 07/20/2012 - 15:03 | 2637279 NotApplicable
NotApplicable's picture

Becoming reality?

It was actually a documentary.

We'll see how long the tards can continue to live kick-ass lives, though.

My first wife was a tard.

Fri, 07/20/2012 - 15:09 | 2637306 Jack Napier
Jack Napier's picture

Just keep pumping people full of electrolytes and they'll be just fine! Stay away from the toilet water. If anyone needs me I'll be at Starbucks.

Fri, 07/20/2012 - 16:20 | 2637632 moneyline
moneyline's picture

For the "full release latte"!.....oh yeaaahh.

Fri, 07/20/2012 - 17:06 | 2637762 NooooB
NooooB's picture


Fri, 07/20/2012 - 15:14 | 2637352 Mugatu
Mugatu's picture

Nope!  Movie was Idiocracy.  A Mike Judge picture staring Luke Wilson.  

Luke Wilson goes into an Army experiment and wakes up 300 years later.  He finds out that he is the smartest man in the world when he is tested at a 100 IQ.  In the future, Gatorade (called Brawndo in the movie) bought out the bankrupt FDA and Gatorade is fed to infants, cattle, even crops - instead of water.  President is a wrestlemania type strongman who drinks beer and rides through parades on a tri-bike.  Starbucks become a brothel and Costco has become a giant megacomplex where you can buy anything.  

Fri, 07/20/2012 - 15:53 | 2637535 Biggvs
Biggvs's picture

Step right up, sir! Select your fate! Choose one of these fine beverages from our selection:

Fri, 07/20/2012 - 17:30 | 2637809 viahj
viahj's picture

recalibrate your sarcasm detector

Fri, 07/20/2012 - 15:06 | 2637303 JohnG
JohnG's picture

Isn't is "Idiocracy?"  My best guess anyway.

Fri, 07/20/2012 - 15:32 | 2637440 Mugatu
Mugatu's picture

Enjoy this clip from the movie.  Its so applicable to today, that is funny:

Fri, 07/20/2012 - 17:03 | 2637748 Tijuana Donkey Show
Tijuana Donkey Show's picture

Obama would look good as a blonde.

Fri, 07/20/2012 - 16:28 | 2637658 Quantum Nucleonics
Quantum Nucleonics's picture

A little OT, but, as I'm walking out of Costco through the line of shame, where they check my receipt to see if I've stolen anything, seeing that I have my two young sons with me, the Costco inqusitor takes the time to draw a smiley, happy face on the back of my receipt for the benfit of said kids.  Come on, just wave me through.  I'm juggling to kids bouncing off the wall while hauling 4 metric tons of stuff out to my car.  I really don't have time for some Costco employee to re-live their favorite kindergarten art class memories.

Fri, 07/20/2012 - 16:55 | 2637732 beachdude
beachdude's picture

They check my receipt as a courtesy to make sure I remembered the vodka kahlua and milk.

Fri, 07/20/2012 - 14:53 | 2637204 youngman
youngman's picture

I still think gold is being played....fixed....just today the ECB said no more to Greece debt as collateral...well well well...what is one to do if you own that crap...can´t trade it for gold now can we...

Fri, 07/20/2012 - 14:51 | 2637209 Taterboy
Taterboy's picture

Odd one out? You mean Barney Frank?

Fri, 07/20/2012 - 14:52 | 2637212 ThunderingTurd
ThunderingTurd's picture

Anyone else expiring worthless today...right before the next MASSIVE leg down? 

Fri, 07/20/2012 - 15:02 | 2637277 Hetty Green
Hetty Green's picture


Fri, 07/20/2012 - 14:52 | 2637216 TwoJacks
TwoJacks's picture

no one, absolutely no one, buys stocks with gold.  who are you, Prechter?

Fri, 07/20/2012 - 14:53 | 2637222 francis_sawyer
francis_sawyer's picture

Robot Trader to post comment that 'inWestors' are fleeing to the safety of 'tried & true' Treasuries in 5...4...3...2...

Fri, 07/20/2012 - 14:56 | 2637234 diogeneslaertius
diogeneslaertius's picture



no film at 11

Fri, 07/20/2012 - 14:57 | 2637244 fonzannoon
fonzannoon's picture

Cue "we are coming off the lows" in 6 minutes followed by "looks like we are going to end about flat" in about 45 minutes. Followed by bobbleheads screaming "Wow" while looking completely unsurprised.

Fri, 07/20/2012 - 15:08 | 2637316 JohnG
JohnG's picture


Fri, 07/20/2012 - 14:59 | 2637259 Yen Cross
Yen Cross's picture

 Now that we have defined risk. Perhaps we should buy some Diamonds.  OOOPs 1 is off the market. That defines inflation.

  JPM style.

Fri, 07/20/2012 - 15:03 | 2637273 Squid Vicious
Squid Vicious's picture

bunch of homies closing in on 5 yr. highs... all is well in suburbia!!

Fri, 07/20/2012 - 15:05 | 2637298 RobotTrader
RobotTrader's picture

Minor stock selloffs create and even bigger, more monsterous bond bubble.


Just look at the absolute, total panic buying in U.S., German, Swiss, and Japanese bonds.

Never before in history have I seen a "Paper Bubble" as big as this one.

More and more "Animal Spirits" are brewing, pretty soon borrowing money will be practically free, which means infinite margin for the speculators, and savers will be completely destroyed unless they start buying stocks.

Fri, 07/20/2012 - 15:09 | 2637325 fonzannoon
fonzannoon's picture

or metals.

Fri, 07/20/2012 - 15:36 | 2637463 Ying-Yang
Ying-Yang's picture

Damn.. I almost agree with you Robo, except for the "buying stocks" part. The least you could do for us at ZH is to take the bra off your avatar!

Fri, 07/20/2012 - 15:59 | 2637567 francis_sawyer
francis_sawyer's picture

Jeez... what took u so long to troll?... This one ought have been a slam dunk... Oh, I know... It's Friday (allowance day for you), musta been busy at the dollar store buying silly string & play doh...

Fri, 07/20/2012 - 15:09 | 2637319 TahoeBilly2012
TahoeBilly2012's picture

Or just destroyed period.

Fri, 07/20/2012 - 15:23 | 2637397 Yen Cross
Yen Cross's picture

  OR side-lines.

Fri, 07/20/2012 - 15:28 | 2637421 youngman
youngman's picture

the PM´s market is dead....wierd...nothing it expiriry day today????

Fri, 07/20/2012 - 15:31 | 2637438 dcb
dcb's picture

god you can tell it's going to be another algo week from hell getting back to th eline we all know where to buy is. keep the vix low, don't have to pay tose vix options, instead of droppung today working our way slowly down. or maybe like before when we opened lower each day and the algo's bought from the am all day, and each day was lower. or the stupid 14:00 ramp and have to buy your shorts at teh end of the day 15:58.

God I hate our markets, it's no wonder people are leaving in droves, so the liquidity providers are driving every normal person out of the market leaving less liquidity, but nobody talk about that. plus the stupid back and fort action stealing small amounts of money left and right reducing liquidity.

just buy your short at the emd of the day. I hate this stuff.

What  A joke

Fri, 07/20/2012 - 15:34 | 2637452 Ying-Yang
Ying-Yang's picture

On Monday will we see the "Hide the Pickle" chart ?

Fri, 07/20/2012 - 15:40 | 2637484 Xibalba
Xibalba's picture

Just wait for Monday when you'll get Asia's response....





Fri, 07/20/2012 - 15:48 | 2637521 Mark123
Mark123's picture

What would you rather hold....shares of Chipotle trading at 50x massaged earnings, Linkedin shares trading at 730x massaged earnings, etc etc.......or cash backed by empty central bank vaults......or physical gold/silver?


It is funny, but the central banksters cannot save the stock market speculators, BUT they can make cash worthless or verry very valuable.  Gold will play the inverse to cash.



Sat, 07/21/2012 - 01:20 | 2638400 CCanuck
CCanuck's picture

What are they serving at Chipotle ? Chicken?

I wont buy the stock if they serve chicken!


Fri, 07/20/2012 - 15:50 | 2637529 SmoothCoolSmoke
SmoothCoolSmoke's picture

I think next week is ugly for stocks. Ben's shadow from this week will have disapated.  Earnings will continue to be weak.  If Spain goes up in flames this weekend...................look out below. 

Fri, 07/20/2012 - 15:55 | 2637545 Seal
Seal's picture

You know, I was thinking.......Gold is an obvious hedge to own, CBs are buying it, CN is buying it big time, the price is holding steady....SO THEREFORE the FED is shorting paper gold AND selling physical. It MUST be that the 8,300+ tons are gone. How could it be otherwise???

Fri, 07/20/2012 - 21:01 | 2638145 Divine Wind
Divine Wind's picture



They are using other nation's PHYZ stored in NY and other domestic locations to sell into the market.

NEVER,EVER fuck with the principle. Use other people's gold.

If things go south, they can say it was stolen by terrorists from __________________ <----enter favorite exotic shithole>

This is why Chavez called for his to be returned.

Sat, 07/21/2012 - 01:13 | 2638397 CCanuck
CCanuck's picture

Rule #1 - "Don't get high, on your own supply"

Fri, 07/20/2012 - 16:02 | 2637565 Yen Cross
Yen Cross's picture

 God Dammit Tyler! Quit toying with me!

  It's the intersection of "GOLD/FIAT". Technically you win!

  Those credit charts are in line though? No curve movement/ on the short term spreads?

Fri, 07/20/2012 - 16:00 | 2637570 RobotTrader
RobotTrader's picture

My prediction is that gold and silver are going to break down below the triangle and really freak a lot of guys out.

General Jim will have shut all communication with the outside world, and King World News blog posting with suddenly halt.

3 days below that line, then it reverses and heads back up on a new bull leg.


Fri, 07/20/2012 - 16:17 | 2637626 Beam Me Up Scotty
Beam Me Up Scotty's picture

Dry powder ready and waiting!!

Fri, 07/20/2012 - 16:27 | 2637655 The Swedish Chef
The Swedish Chef's picture

Too bad I put all my money in muni ETFs like you said I should...

Fri, 07/20/2012 - 17:46 | 2637829 jimmyjames
jimmyjames's picture

My prediction is that gold and silver are going to break down below the triangle and really freak a lot of guys out.


You could be right-but so far the odds are 80% against a break lower out of this formation-according to the previous bull-

Fri, 07/20/2012 - 16:11 | 2637606 q99x2
q99x2's picture

Red by the Bell.

Stocks are still a bit humpty. Maybe if Spain implodes. And, Hillary attacks Iran this week they will go up on Monday.

Been a good week of nothing happening again in the markets. Now we have a week of Government propoganda on how the FEDs are going to help us not get shot when we go to the movies.

The sociopaths running for office figure they've done so well at helping us get robbed when we go to the banks that they are going to help their campaigns by marketing a tragedy and making life a little worse for everyone.

Why don't they let us all carry so we can protect ourselves from sociopaths whether they are running into the theater or running for office.

No news for me this week.

Fri, 07/20/2012 - 16:32 | 2637667 Remington IV
Remington IV's picture

That would be my portfolio

Fri, 07/20/2012 - 16:32 | 2637668 Remington IV
Remington IV's picture

That would be my portfolio

Fri, 07/20/2012 - 16:52 | 2637721 americanspirit
americanspirit's picture

IMO sometime next week Assad is going to decide that if he's going down in flames he's going to take a whole lot of people with him. And my guess is that he won't limit his targets to nearby populations. I wouldn't be downwind from any European capital next week, especially London.

Fri, 07/20/2012 - 19:23 | 2637987 orangegeek
orangegeek's picture

An overlay of Spot Gold and the Gold Bugs Index (gold stocks) tells a better story.

Sat, 07/21/2012 - 12:54 | 2638950 Grand Supercycle
Grand Supercycle's picture

As mentioned numerous times, market intervention has only postponed the inevitable.

Despite short and medium term market vacillation - the following remains a constant :

>> USDX monthly indicators [ie big picture] continue to warn of significant long term USD upside. (thus EURUSD & AUDUSD etc bearish)

>> SPX monthly indicators [ie big picture] continue to warn of significant long term downside for equities which will be worse than 2008.

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