"This Time Will Not Be Different": Interactive Chart Of Market Reactions To All Prior 2011 Eurozone Summits And Meetings

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Wed, 12/07/2011 - 21:32 | 1956898 philipat
philipat's picture

The food is very good?

PS Technical Report - Still bullish but overbought = Blank Page. Or perhaps that's why their predictions have been so accurate ;-)

Wed, 12/07/2011 - 21:34 | 1956942 covert
covert's picture

you already know what's coming

http://expose2.wordpress.com

 

Wed, 12/07/2011 - 21:54 | 1956977 Chris Jusset
Chris Jusset's picture

"So far in 2011 there have been no less than 10 Eurozone finance minister meetings and summits. TEN."

 

This is just CRAZY ... utter madness !!!

Wed, 12/07/2011 - 22:40 | 1957069 tom a taxpayer
tom a taxpayer's picture

EU confidence builder: Herman Van Rompuy's middle name is Achille.

http://en.wikipedia.org/wiki/Herman_Van_Rompuy

Wed, 12/07/2011 - 22:47 | 1957077 TruthInSunshine
TruthInSunshine's picture

Japan & Australian economic data show major suckage of wind.

Japan’s Nikkei 225 Stock Average (NKY) retreated 1.1 percent after machinery orders fell 6.9 percent in October from September, missing the median forecast of a 0.5 percent gain by 27 economists surveyed by Bloomberg News.

Australia's property bubble is teetering towards the cliff:

Australia’s employers cut 6,300 (-) workers in November from the previous month, missing the 10,000 (+) extra jobs forecast in a Bloomberg survey of 22 economists.

 

Asia Stocks Fall Ahead of European Debt Summit 

Bloomberg - 9 minutes ago

Wed, 12/07/2011 - 23:38 | 1957163 Oh regional Indian
Oh regional Indian's picture

Of course Asia stox fall. How else to milk the non-insiders with news and rumors of news?

Summits, cheaper by the dozen. Used to be that a Summit was like a climax, meant something. Now, it's just a big circle-jerk.

And I think an overlay of the Bombing Index would add additional granularity to this chart. 

And Mercury is retrograde till the 14th anyways, so expect a lot of crossed connections. No conclusions, just more of the same. 

ORI

/the-plan/

Wed, 12/07/2011 - 23:59 | 1957202 Fish Gone Bad
Fish Gone Bad's picture

I am pretty sure this time will be different.  My definition of "time" is whatever it needs to be to prove me right.  Likewise with my definition of "different".

 

 

Thu, 12/08/2011 - 03:49 | 1957613 Cast Iron Skillet
Cast Iron Skillet's picture

it depends what your definition of "is" is

Thu, 12/08/2011 - 04:45 | 1957650 Oh regional Indian
Oh regional Indian's picture

I suppose it just depends...

ORI

Thu, 12/08/2011 - 05:45 | 1957686 Michael
Michael's picture

The Only Hope for the European Union is for its people to adopt in its entirety, the US Constitution, immediately!
The countries in Europe would be relegated to statehood status, but they will retain all rights not given exclusively to their federal government. Let me tell ya, that's still a lot of rights the states retain.
By the way, a private Federal Reserve is still un-constitutional in the European package, as are income taxes, just like in the USA.

Wed, 12/07/2011 - 21:23 | 1956903 Taint Boil
Taint Boil's picture

deleted - my best post yet

Wed, 12/07/2011 - 21:24 | 1956907 Robslob
Robslob's picture

 

 

It's all Greek to me?

 

Wait...priced in.

Wed, 12/07/2011 - 21:25 | 1956908 SHEEPFUKKER
SHEEPFUKKER's picture

MAKE IT STOP.

Wed, 12/07/2011 - 21:27 | 1956921 ReallySparky
ReallySparky's picture

Had to give you a green. I too am so Europed OUT!

Wed, 12/07/2011 - 21:44 | 1956964 philipat
philipat's picture

Why can't Germany just make a decision. Bailout or PULL out?

Thu, 12/08/2011 - 00:03 | 1957206 Fish Gone Bad
Fish Gone Bad's picture

That is not how politics work.  A decision will actually be really bad.  The game here is to kick the proverbial can down the road as long as it is possible.  Making a decision will let everyone know that the leaders have no clothes and the markets will get sacked.  Kicking the can allows one to potentially make this someone elses problem.  That is the nature of politics.

Thu, 12/08/2011 - 15:01 | 1959901 SemperFord
SemperFord's picture

Agreed, I ALWAYS pull out!

Wed, 12/07/2011 - 21:45 | 1956966 cat2
cat2's picture

indeed, can we just assume neverending risk on, risk off nonsense until the end of time and stop it with the EU already

Thu, 12/08/2011 - 00:42 | 1957299 Leraconteur
Leraconteur's picture

It is this inability to commit, to make a decision and have it stick, that is that major insight here. Europe STILL, decades later, cannot agree to anything, commit to anything, other that chaos, discord and disagreement.

It doesn't matter what the EFSF does, whether Germany decides to monetize, tax all the rest of the EU, print D-marks, form a core EU, bailout or not, lever up or not - it's the chronic indecisiveness that is the generational take-away from this entire debacle.

Why anyone ever looked up to modern European values, is beyond me.

Wed, 12/07/2011 - 21:39 | 1956949 Unprepared
Unprepared's picture

Look the other way, Fukker

Wed, 12/07/2011 - 21:27 | 1956914 fonzanoon
fonzanoon's picture

Is there anyone else out there who feels that if a major bank failed it could set off a chain reatcion that could take down the market big time. But knowing that, "they" will just not let a major bank fail? They will lie cheat and steal their way to keeping the balls in the air. Can someone convince me otherwise?

Wed, 12/07/2011 - 21:31 | 1956929 johnnynaps
johnnynaps's picture

Nah, MF Global failed with rumors of Jefferies and BAC on the verge along with AMR and here we are today up the last 3 weeks.

Wed, 12/07/2011 - 21:36 | 1956940 sof_hannibal
sof_hannibal's picture

repeated

Wed, 12/07/2011 - 21:38 | 1956946 fonzanoon
fonzanoon's picture

People are just too stupid. I have hard working friends who really think they should start giving the banks a break.  How fantastic is that? When was the last time you got robbed and had the shit kicked out of you and you chased the robber down to give him your watch. People are stupid. This will go on. We can get excited about meetings and possible breakdowns and whatever. They have all the pieces in place to prevent the big event. It's the whole frog in warm water analogy.

Wed, 12/07/2011 - 22:55 | 1957088 Manthong
Manthong's picture

When money doesn't mean anything to the power elite who can just shuffle electrons, this is one way to prevent a bank failure.

Seems like a superb Ponzi maneuver to me.

I'm surprised it didn't warrant it's own thread.

http://www.bloomberg.com/news/2011-12-07/sabadell-to-buy-cam-for-one-euro-no-budget-impact-spain-says.html

Wed, 12/07/2011 - 23:12 | 1957123 DeadFred
DeadFred's picture

This is a well known psychological phenomenon.

http://en.wikipedia.org/wiki/Stockholm_syndrome

It's even European though not EU.

Wed, 12/07/2011 - 21:34 | 1956941 sof_hannibal
sof_hannibal's picture

but MF global was classified as a financial derivatives broker, not necessarily a bank in the purest sense. not that it matters anymore in today's world, just sayin' though

Wed, 12/07/2011 - 21:31 | 1956930 sof_hannibal
sof_hannibal's picture

plus one. It would appear that since Lehman, the powers that be will not let it happen again. They have at least convinced themselves they have a green light to do whatever it takes. So, the question is what would make them run out of the magic tricks? As debt delevers they must print. What other options are there realistically-- if they print the mess continues if they don't the system implodes. Buy gold and "small caliber" weapons...

Wed, 12/07/2011 - 21:47 | 1956968 DavidC
DavidC's picture

Very true - even if it means taking the economy down and screwing the people into the ground - but at least they won't have another Lehman.

DavidC

Wed, 12/07/2011 - 21:49 | 1956971 Corn1945
Corn1945's picture

Why are we in this mess to begin with if these people have so much power?

 

Wed, 12/07/2011 - 22:02 | 1956998 HurricaneSeason
HurricaneSeason's picture

Mostly to bring on austerity and higher taxes. People wouldn't agree to suffer unless it was really really necessary.

Wed, 12/07/2011 - 22:16 | 1957029 macholatte
macholatte's picture

Why are we in this mess to begin with if these people have so much power?

 

We are in this mess BECAUSE those people have so much power.

Wed, 12/07/2011 - 22:36 | 1957066 macholatte
macholatte's picture

 Stupid is as Stupid does.

--Forest Gump 

 

"Several partners have not yet understood the gravity of the situation" facing the EU, the source said.

Germany dampens hopes as France warns of euro 'explosion'

http://news.yahoo.com/credit-warning-gives-eu-summit-last-chance-debt-053646538.html

 

 

“Germany will not let itself to be impressed by the day-to-day and very short-lived judgment of a single ratings agency.”

German Politician: Euro Downgrade Is an American Plot

http://www.weeklystandard.com/blogs/german-politician-euro-downgrade-american-plot_611697.html

Wed, 12/07/2011 - 23:32 | 1957154 sof_hannibal
sof_hannibal's picture

it's all geared to maintain the status quo; regardless of it making sense or not.

Wed, 12/07/2011 - 23:34 | 1957157 sof_hannibal
sof_hannibal's picture

it's all geared to maintain the status quo; regardless of it making sense or not.

Wed, 12/07/2011 - 21:27 | 1956919 AmazingLarry
AmazingLarry's picture

You ever take it off any sweet jumps?

Wed, 12/07/2011 - 22:35 | 1957064 blunderdog
blunderdog's picture

Dude, you got like ten feet of air!

Wed, 12/07/2011 - 21:27 | 1956920 sof_hannibal
sof_hannibal's picture

totally predicatable.

Wed, 12/07/2011 - 21:29 | 1956925 paul_Liu
paul_Liu's picture

so the bank stocks were on top when the announcement?

Wed, 12/07/2011 - 21:30 | 1956928 junkyardjack
junkyardjack's picture

I'm already pricing in next week's meeting that hasn't been announced yet.  I'm thinking the market is going to be quite happy with thoughts about the results of that one after they get very disappointed with the results of this week's.

Wed, 12/07/2011 - 21:35 | 1956944 TheLooza
TheLooza's picture

took an respectable IWM put position today at close.  Glad to see that i appear to have positioned myself correctly based on precedent.  I just find it odd that the correct position is errily similar in appearance to that of someone waiting to take it doggystyle.

Wed, 12/07/2011 - 21:38 | 1956948 paul_Liu
paul_Liu's picture

put already? tomorrow will be up again

Wed, 12/07/2011 - 21:41 | 1956958 fonzanoon
fonzanoon's picture

Good luck with the IWM put. From someone who is getting mauled on a short I wish you luck. That being said you ever go to A.C and play roulette? You see black come up 5 times in a row so you bet red. You lose. You wait. Black comes up again and again and again. so after 9 times in a row you go in hard on red. You lose. Now you are pissed so you put the rest down and black comes up again. You hit the ATM and hit the bar. That is what this is like. Maybe i am the only asshole who has done this.

Wed, 12/07/2011 - 21:48 | 1956970 Mentaliusanything
Mentaliusanything's picture

Its called "betting scared" and no it has happened to me until a nice very wealthy chinese man told me the secret

Never bet scared, go in hard knowing your going to rip the heart out of the beast.

Then you win

 

Wed, 12/07/2011 - 22:21 | 1957033 TheLooza
TheLooza's picture

dude.  Every gambler and day trader in the world has gone on tilt like that. 

 

I took the position though because I didn't want to.  Got to be willing to stand tight in the pocket.  Also need to know when to throw it away.  fuck me with all these stupid sports metaphors.

Wed, 12/07/2011 - 22:33 | 1957058 fonzanoon
fonzanoon's picture

ha funny shit. Without metaphors we are just stupid people doing stupid things. Metaphors give us something to relate to. Stay with them.

Wed, 12/07/2011 - 22:46 | 1957073 RoadKill
RoadKill's picture

I think of the market as a roulette wheel except every time red comes up, the chance of black coming up next goes up a bit.

So after red comes up 8 times out of 10 I bet a bit on black. If red comes up 8 of 10 times again, I double down. The key is not to bet so much at once that you can't double down several times.

It's not a perfect analogy - except for this.

Never accept the free drinks if you are trying to win. And always bet the opposite of he guy that claims to be an expert (CNBC).

Wed, 12/07/2011 - 23:23 | 1957135 Ragnar24
Ragnar24's picture

Exactly.  Roulette is a terrible analogy because there is zero causation from one spin to the next.

Equities, on the other hand, cannot go up indefinitely, so each day these dumbass bulls push it higher (based on nothing but a recycled rumor) there is actually a greater probability tomorrow will be down... and because this "casino" has this feature, you can actually continue to double down (as long as you started with a small enough bet to keep it up for a couple weeks!).

Wed, 12/07/2011 - 23:41 | 1957166 you enjoy myself
you enjoy myself's picture

tell that to october.  or for that matter, march '09 to may '10.

Wed, 12/07/2011 - 23:18 | 1957128 DeadFred
DeadFred's picture

"Maybe i am the only asshole who has done this."

LOL, not by a long shot, not by a long shot.

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