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Stocks Don't Even Need A Rumor To Surge Now
Stocks just surged over 1% off their lows on absolutely no news whatsoever. The Merkel news was minutes ago (and how is that in any way positive), the EFSF being proposed to buy bonds as proposed by Italy came out 2 hours ago (and was denied) and the JPM news is old and irrelevant... The usual ridiculous move... they are on their own from a cross-asset perspective and just touched yesterday's closing VWAP which feels very algo-exit-driven...
Apparently, this is what is moving stocks. From Reuters:
European finance officials were working on urgent measures to ease financial market pressure on Spain and Italy, which are too big to bail out, as EU leaders began a summit on Thursday deeply divided over how to resolve the euro zone's debt crisis.
French President Francois Hollande said on arriving at his first full European Union summit after six weeks in office that he expected agreement on emergency steps to help euro zone partners whose borrowing costs had reached unsustainable levels.
"I have come here to get very rapid solutions to support countries in the greatest difficulty on the markets even though they have made considerable efforts to restore their public finances," Hollande told reporters.
Three EU sources said work was focused on using the euro zone's temporary EFSF rescue fund and a future permanent ESM bailout fund to buy new Spanish and Italian bonds as they were issued to underpin their bond auctions.
Only problem: it came out 3 hours ago. And Germany will refuse it if and when there is a press conference.
and relative to cross-asset class risk...
Perhaps the only real catalyst here is the fact that Brian Sack has just one more day of day trading. After that, we are all at the mercy of the Economist Ph.D. who is replacing Sack and who will make this market a truly epic joke.
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Can I just kill myself now?
Brian Sack was told to close green so the news can say so in the same breath as Obama Care ruled constitutional.
but there was a rumor. the rumor was that the market would be ramped at 3:30 again.
cue maria b saying the markets closed off the lows for the day...
In other news, my call from earlier today...
6/28/12
sell THC at 5.47
buy UNH at 56.90
...means drinks are on me, bitchezzz!!!
Obummer just called the PPT
cant have the markets look bad the same day he screwed the country
Agree. Can't have bad news on a good news day. Average Joe at work right now. In a couple of hours they will get home and see the ObamaCare passed and the market didn't seem to mind.
Fixed. But not in the way that mattered.
Don't know why this is being ignored:
Credible sources reporting Turkish military buildup on Syrian border & alerts in Israel and Saudi Arabia
really? I believe the proper term is called a Media Blackout.
Anyone trading indices without knowing the inside track is fucktarded, the past two days In particular have been a joke.
Good timing on UNH.
Take It On The Run (Sheep Shearing Edition)
Heard it from a friend who
Heard it from a friend who
Heard it from another that the economy and Eurozone are fine
They say Merkel has a Spanish boyfriend
The PPT's up late pumping thin futures every evening
They've broken markets and it's bringin' me down
But I know that things aren't good
And talk is cheap when the story is good
And the tales grow taller on down the line
But I'm telling you, sheep
That the bullshit is gettin' epicly deep
And given that keep this in mind
You get sheared coming and exiting, sheep
If that's the way they want it, peeps
Then I'm sure they don't want us around
I don't believe any of it
Not for a pre-election minute
You're under the gun, literally, so you take it on the run
They're thinking up more white lies
They have CN[BS]C puttin' on their Pollyanna eyes
They say we're digging out just like the last 4 years been
But I can feel it coming
Leave tonight, keep running
Grab your tradition and you need never look back again
REO Speedwagon - OMG.
I have to say, you're making pretty good use of that dusty field there.
I could do Sisters of Mercy or Fugazi, too, but damn...shit's gettin' real, yo.
Oh, Lucretia...
Anybody who assumes the surname "Eldritch" should be kicked in the balls.
Nice.
The symbol for UVXY has been changed to AIDS
The shit-for-brains telepromter readers on cnBS say that the cancellation MUST MEAN that Angel is capitulating on the Euro Bond idea...whatever.
I guess it couldn't mean that she REFUSES to negotiate - right?
VIX up almost 2%
UVXY down over 5% - make that 6%
YTD Return (Mkt)²:-80.04%
Beyond a total useless piece of shit
Only way to make money is to short it
great opportunity to buy puts:) last ten minutes are the best
/robots read the Italy 2 Germany 0 headline of the futbol match and the algos were off to the races with barely any volume. Then the idiotic CNBC talking heads decide it means Merkel is CAPITULATING on Eurobonds. Holy crap. Really? Such strong language, but then those CNBCers get so so excited when the market goes up.
Maria trembling as she sputters Capitulation. Such a big word! What a vocab!
Personally, it's quite clear the Fed is ramping the market today to try make it seem Obamacare is not a bad thing.
Would you please do us all a big favor, and perform a public service at the same time, by putting a banker under one arm and a politician under the other BEFORE you jump? Pretty please.
Why do I keep seeing elizabeth fucking warren ads on ZH? That's fine - if it's pay-per-click, I'll click all day long...
Why are you searching for EW - that's why you get the ads? Least you know the system. It's a double bonus, you give ZH revenue and cost Warren!
Didn't you post the same question on another thread? You should go read up on Google's ad algo based on your "profile".
when will this bullshit faked fucking nightmare end?
Those are my thoughts exactly. The longer it goes on like this, the worse it's gonna be when it falls apart. I would not be surprised to see a day like Black Monday in 1987 where the Dow will lose 20% in a single day. Maybe not that much but 1000 points would not surprise me at all. I would not be surprised to see this event this coming Monday.
And gold is down. WTF!!!
They wait until gold is closed for the day to ramp the market. lulz
bonds, oil, commodities, nothing participates in the bounce except the dollar and stocks. what a farce. again and again and again and again.
It's like waking up in the morning with a boner.
Yea but it's an unseen hand that's doing the jerking off and nobody wants to see the face that hand is attached to.
...and let the sucker buy rally begin
Justice Roberts just wrote a mandate for everyone to buy ETF's...Preferably linked to the S&P.
... including the FED.
Volume too..
Which suggests that the frequent 3:30 pm surge is nothing more than a surge, regardless of the regularly scheduled rumour release.
Yeah it just the RTC/CMOS chips on the algos motherboards.
End of the quarter marks.
You nailed it. Window dressing, painting the tape, whatever you want to call it.
But of course
Options expirations put selling did it.
Thin markets are where algo scum predators come to take people's money.
LOL broken markets
Khaaaaaan!
I used that line yesterday.
Italy is showing eurozone that Germany is not as tough as everyone thinks..
(in soccer)
Algos get afternoon wood?
Stocks just surged over 1% off their lows on absolutely no news whatsoever.
Well because uncertainty has been cleared up of course. Markets don't like uncertainty.
What the governmnet can make you do, buy or pay has now been explicitly identified and firmly established: everything.
The guy on CNBC just told us why cancelling the conference call is positive. "It seems that whenever they cancel a conference call something comes out of it, it is not a long term solution, but a bridge to a long term solution"
Made me want to puke
Exactly. A little inside info slipped to just one friend and before you know it, the algo's become girls gone wild.
Or a bridge to a bridge to a long term solution.
Or... a bridge to a, yet to be built, road which may lead to a bridge that doesn't exist.
It's a signal that people are thinking about a plan to meet later to determine the best course of action for planning to meet and discuss stop-gap measures that will get us throught the planning stages until the final solution is rolled out.
Yep. Clearly they are now brainstorming the best avenue, dates and times to hold further meetings in an attempt to broach the subject of how and when designing a cogent, comprehensive plan to save the EU will be brought about, so that they can further analyze the basic arithmetic and realize that if that's the goal, but for which there isn't an actual solution, and their response will then be to announce that they've decided to postpone the latest round of meetings, in order to further their negotiations, in an attempt to save the EU, which everyone knows is not possible.
Rumor is that Germany will loan Italy $1 trillion in exchange for Italy letting Germany score 3 times in the 2nd half.
The fix is in!
we need these sharp spikes higher to get the cluttered short trade cleared out before we can hit fresh lows in the down trend... low 1200ish on deck or so I'm thinking.
gives you the greatest feeling of confidence in the markets, doesn't it.
Like maybe it's just a bunch of machines printing numbers in front of you....
Done already as an old Star Trek episode.
http://en.wikipedia.org/wiki/A_Taste_of_Armageddon
and they wonder why billions leave equity funds week after week. Hard to deal with this shit
Unbelievable.....in all my years, I have never seen such bullshit.....
I would have to take off my shoes to count how many times I've said that this year
At this point - don't go short longer than 10 minutes
Markets? What markets is he talking about?
Tyler said market.. Hehe
Aug through October is gonna be UGLY. If you missed "Sell in May/Go away" You better not miss the "Sell the rally AND sell the dip" period between now and August. There's no asset class safe either. Not only is the baby getting tossed out with the bath water, but the whole bathroom is getting dumped too!!!
Personally, I feel that this is WASHINGTON INSIDERS FRONTRUNNING news scheduled to be released at the close. Just a guess.
Algorithm bear trap.
It's insane.
And wall street wonders why trading volumes are at all time lows. What market? This whole thing is a joke.
Don't be so dramatic. Yours is not to reason why, yours is but to sit there, empty your mind of any thoughts and hold your finger on the SEND button to go long as soon as the parabolic rise appears imminent.
Much better than X-Box or Nintendo.
Charts watching charts watching ...
I heard EU problem was solved, Germany is going to write a post-dated check to cover all EU debt.
SPX reaches for the Put Lever. "No crash by 3:00 EDT , rally by end of day".
The rumor was that Congress can now make us all buy stocks.
Its comming... Its called privitized social security.
Nicely tied up. ;)
<bow>
Yes, no doubt will force a portion of SS and the rest of the pension money into the stock market...
window dressing
Squick save bitchez!
yep knew it, got out of my short at 12noon. they can play it again and again..this should be the demise of all our markets..wait there are no markets just .gov- healthcare by lawyers and drop out getto clerks in DC will be sooooo much better. ooooh we are sooooooo fuckkkked
So, exactly how did you know to cover at noon?
j four57, are you kidding? ever look at recent history of daily markets. they never let the market crackup after 08. bad news like the knife to the neck today and EU next up..will be pumped at EOD. it's the only thing making the eyes wide shut crowd think all is well.
Does anyone else get the feeling there is a standing order that whenever the markets start to look like they might rollover, Jamie and Lloyd give the executive order BTFD4874 to the trading floor to engineer a turnaround...volume is so slow right now my guess is that if one takes the lead, the other 3 firms jump in just for fun...
Tyler,
This is the 2:15 express. Happens most everyday as the Fed steps in to prop up the market.
More like the 2:15 bullet train.
Got to get those "Obamacare upheld and stock market rallied today" headlines on the evening news for those who still watch it.
This shit is "comic relief"! I'm sure Asia will sell the shit out of the dollar again tonight. Rinse wash/ rinse wash.
Here is a rumor for you, Angela had to cancel the conference because Von Rampass and Monti resigned
Monti might, but Mr. Von Rampass would never resign. He likes to hear himself talk far too much for that.
markets go down on fundamentals
markets go up on Hopium
It surge because of the derivative mark to market...western world must outperform asia.
Could be this http://www.forexlive.com/blog/2012/06/28/massive-sp-order-roils-markets/
WTF!?!
that is insane.
Fed pushes panic buy button, the rest follow the lead.
They expect print. They see nothing is being done. No printing. No solution. More printing must happen later then.
Ergo rally.
You gotta think like a liquidity whore to understand the liquidity whores' excuses for cerebellums.
1000111101010101010101111
http://www.youtube.com/watch?v=FdYKTek5N1Q
S&P was in danger of breaking of the 1310 H/S neckline into the close. Then...MAGIC!
This rally is proof that Wall St LOVES tyranny!
They just want you to know who's in charge!
And after today's SCOTUS decision, it's just a little salt in the wound.
So there was supposed to be a rally today when obamacare was overturned. Something like 70+% of people thought it would be and that would be market positive.
So PPT says - eh, well we have all this rally cash ready to use, use it anyway. what the hell why even bother hiding their intervention anymore or give a pretense of a free market.
To your point if someone at GS, MS, JPM or C would simply tweet everyone at 8AM and let us know whether it was an up day or a down day, we would all pile in accordingly...however, at the moment they seem to get more pleasure with the no tweet and headfake which adds more velocity at the end of the day. We would all make oodles of money if they would just let us know because pretending that this thing has anything to do with company valuations, prospects, the economy etc...is just silly.
cnbc circus
Stocks finished slightly lower Thursday but staged an impressive comeback in the last half-hour of trading following reports that Germany's Angela Merkel has canceled the EU summit's press conference tonight
Big Ben press red button but its attributed to Merkel.
Tomorrow and next week (low vol) should also be up. BUT, 7/9 starts the slide to 1170.... reached just in time for Jack-ass-son Hole.
Absurd. Totally irrational markets. And traders work this market. Idiots.
I got fucking blowtorched..... WTF?
And they still wonder why CNBC ratings are plunging...As the Fed continues to kill off the economy, the stock market is dying due to liquidity and confidence issues..
A Detailed Examination of All the Available Evidence Strongly Suggest That “Unidentified Flying Objects” (UFO’S) Are Actually “Identified Flying Objects” (IFO’S).
By Preston James
http://www.veteranstoday.com/2012/06/28/ufos-are-ifos/
Skynet lives. It'd make a great furtune teller.
White House menu for tonight:
Fried Chicken
Collard Greens
Watermelon
Boone's Farm (grape juice for the kids)
I hear Judge Roberts is coming over.............suckas!
This market is a fucking clown show.
These algobots have the ability to read news headlines. It's just one of the reasons why I don't trade anymore. They'll love to rip your face off.
If you're short, it's best to take profits when/where ever you can.
this means something...and i think it may be mortal dread over the asia open.
did spiderman just slide down the dow's facade? no metaphor here...really, i just heard some wacky report that spiderman was seen on wall street.
wtf is going on?
looks like panic.
so fuckin crazy.
JP Morgan just brought in a container load of Spiderman towels from Spain. Must have been Jaime toweling off his 50 lb swinging dick.
A cancelled press conference can mean anything, diarreha problems or whatever.
Here is the rumor posted on WSJ blog:
*MERKEL SAYS BOND PURCHASING BY BAILOUT FUND A POSSIBILITY
The article:
Another European Rumor Infests Stockshttp://blogs.wsj.com/marketbeat/2012/06/20/another-european-rumor-infests-stocks/
Check your date there...
That's old news dude
Sorry about that. I did a search and the news seem to fit the market so well. I'll be more observant next time.
Who needs a rumor when you can BTFD?
brian! we're gonna miss yo funky ass, BiCh!
this is a prelude to tomorrow's big "closing 2Q" surprize as fungicide gallops home, bathed in frothing equities and maybe some perky snork-titties too
[i'm sorry, BiCheZ! i'll try anything! all i'm getting are intelligence research and insurance ads...]
And VXX went down 6% in 30 minutes. Pretty nice to know that everything is back to normal.
Stocks outperform gold again today.
I hope Greeks didn't put their savings in gold to protect themselves against the collapse because holding US$ would have been a much better option.
If you don't agree, check the charts. If you don't understand, welcome to the club.
Just out of curiosity why are you not here on up days for gold?
Plunge Protection Team BITCHEZ!!!
It was the anticipation of a rumor.
"Come to the showroom to get a great deal on your mandatory Caterpillar tractor!®™"
If you're looking for headlines IMO you're looking in the wrong place. This is, and has been for about the last 2 years, all about programmed short squeezing. The PDs and the big brokerages monitor their inventory and when they know there are lots of short plays going they open the ZIRP floodgates and the cascade upwards begins. They make lots of money and Bernanke loves it so he has told the SEC to look the other way. That is why U.S. equities are so far above the rest, it's a defacto short ban.
Maria B soiled her britches in joy at the last hour save. OFF THE LOWS!
Ramp it up,
Make the leveraged shorts cover
Then crash cart it.
It's Fed political intervention to mask the market impact of affirmation of Obamacare by SCOTUS.
Businesses have been sitting on their hands waiting for the ruling on this law. Now they will not hire at all.
Why even bother with rumors at this stage?
The Central Manipulators realize there's only a couple thousand people in the whole country paying attention, so its not really worth there time to make this look faintly realistic anymore.
The "Markets" are now their private Yo-Yo.
As the economy Dives like a WWII Stuka, the Dow will scream to new heights!!
Sound the Sirens.
Welcome to the machine...
The news was "12pm"
The emerging markets (like India) is the best example to see manipulation in action. Stocks swing like hell for absolutely no reason, some of the headlines that drove me nuts:
1) Growth rate lowest in almost six years - stocks surged expecting rate cut from central banks (remember - no news is bad news for the manipulators)
2) India will be a superpower by 2030! (another sham article that ALWAYS occurs one or two days before expiry that closes the index 2-3% above the currently traded value)
3) The stocks that may spike to keep Nifty above 5000 (I don't know why but this is my favorite headline!)
And many many more that came in mainstream 'business sites'.
The result (headlines):
1) Mutual flows are seeing significant outflows continuously for years
2) More than half of of the investors believe the market is manipulated!
If anyone is a beginner in trading then I would strongly suggest them not to directly trade US equities as they are too many variables, instead India is the best place to see market manipulators in action without any shroud.
The emerging markets (like India) is the best example to see manipulation in action. Stocks swing like hell for absolutely no reason, some of the headlines that drove me nuts:
1) Growth rate lowest in almost six years - stocks surged expecting rate cut from central banks (remember - no news is bad news for the manipulators)
2) India will be a superpower by 2030! (another sham article that ALWAYS occurs one or two days before expiry that closes the index 2-3% above the currently traded value)
3) The stocks that may spike to keep Nifty above 5000 (I don't know why but this is my favorite headline!)
And many many more that came in mainstream 'business sites'.
The result (headlines):
1) Mutual flows are seeing significant outflows continuously for years
2) More than half of of the investors believe the market is manipulated!
If anyone is a beginner in trading then I would strongly suggest them not to directly trade US equities as they are too many variables, instead India is the best place to see market manipulators in action without any shroud.
Maybe if corruption was illegal, this kind of shit wouldn't happen as often, and it would still be possible for normal people to make a living trading an actual market.
And the S&P is 25 points higher today. Whoda thunk it?