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Today's Carnage Through The Eyes Of Goldman

Tyler Durden's picture


Since Goldman continues to press clients into the worst trade recommendation in the firm's history (remember that once in a lifetime long equity, bond short? no? look here) it means that at least the Goldman version of Bruno Iksil who sits on the firm's prop desk (but only hedge for god's sake, don't go getting any ideas) is having a great time since he is on the other side across from Goldman's clients. Still, while we won't feel bad for them, it is always interesting to note what are the things that Goldman watches for during market wipe outs, such as today, the worst day of trading so far in 2012. So without further ado, here is Goldman's Tuesday roundup.

From GS sales/trading

  • Stocks lower, again. Fifth day running. Europe is again the catalyst as the damage done there makes US violence look like a minor scrape. Italian bourses down almost 5%, and same goes for European financials. Spanish banks now back to last year’s lows and SX7E not too far from the same. Cash flow reasonably balanced, but ETF flow much better for sale – which follows notable buying of downside protection yesterday. Heavy flow clearing today – NYSE volumes 30% above 10, 20, and 30d average. Not the most relevant line, but SPX broke its 50d moving average. Not too far now from uptrend support drawn from the October lows. That comes in around 1350 (cash). SPX closes down 24 at 1359 (-1.71%). The DOW closes down 216 at 12716 (-1.65%). The NASDAQ closes down 56 at 2991 (-1.83%).
  • The VIX up another 1.6 to 20.4. The VIX term structure flattened pretty significantly – today the front month VIX contract (Apr) closed less than 1 point above spot (compare to mid-Feb when front month VIX traded at a 5 point premium to VIX spot).
  • Owned positions under significant attack in FX today, led by MXN. While USDMXN up 1.5% makes sense in the context of stocks down a similar amount, that damage was done prior to 10am EST when US equities started their decline. USDZAR too had already made an aggressive move higher. Contrast with AUD where losses were more modest. AUD in fact outperforms CAD (ie, AUDCAD higher), which is quite rare for such a serious risk-off day. Relative EUR outperformance even more significant / surprising / frustrating. EUR lower is the opposite of a pain trade, something of a pleasure trade – many winners and few losers as EURUSD trades lower.
  • Another day, another rally for the US rates market.  The tone was set overnight as peripherals opened up weaker following the holiday weekend, and Spanish and Italian yields continued to push higher over the course of the day.  Bunds, Gilts and USTs all rallied in due course and ultimately the 2.02% resistance level in 10y USTs failed to hold.  Spreads also widened again, closing as much as 2.7bps higher in 10s.  While we saw better receiving over the course of the day from a variety of accounts, we also saw some stabs at reinitiating shorts at these levels from both levered accounts and real money.
  • Copper the story in commodities today - $8088 was 3m copper’s 100 day MA and is now history and again on volume.  Some shorts squaring up late in the day given size of and volume behind this move and thus the potential for a snap back especially given the potential for further LME/SHFE covering that was seen last night. Other highlights - gold up 1.2% and silver up 0.8%, WTI down 1.5% and brent down 2.5%. In our new energy weekly we reiterate our long Sep12 WTI as we continue to expect the Seaway to debottleneck Cushing, with WTI-brent spreads narrowing in line with pipeline tariff economics.
  • An active day in credit with two way flow from fast money accounts with some better buyers of protection. IG closed at 104.75 and HY closed at 94.75.

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Tue, 04/10/2012 - 19:07 | 2333085 HelluvaEngineer
HelluvaEngineer's picture

Through the eyes of Goldman: "Oh, there's my straw.  Wow, check out that bitch.  Did I order her?"

Tue, 04/10/2012 - 19:11 | 2333092 SeverinSlade
SeverinSlade's picture

"So which sovereign nation is next to have an ex-Goldmanite technocrat installed as its PM?"

Tue, 04/10/2012 - 19:14 | 2333101 Straying from t...
Straying from the flock's picture


Tue, 04/10/2012 - 19:18 | 2333108 Dr. Engali
Dr. Engali's picture

We already have one installed.

Tue, 04/10/2012 - 19:19 | 2333109 Straying from t...
Straying from the flock's picture

Yes, but there is that little matter of the election.  Do we have it or should we do away with antiquities? Voting is so last season.


Tue, 04/10/2012 - 19:21 | 2333117 Tsar Pointless
Tsar Pointless's picture

I'd actually love to see that happen, just to find out how many people don't even realize that elections have been eliminated.

I'd wager 40% of the population wouldn't even bat an eye as they scan their teevee menu to find the next Kardashian show.

Tue, 04/10/2012 - 19:25 | 2333125 SeverinSlade
SeverinSlade's picture

Well TPTB are already floating that idea.  Just fucking take a look at Europe.

Headline after headline each and every week, how great it is for democracy to be thrown to the way-side in favor of unelected technocrats.  It's better because these guys prevented another great depression [that they created].

Tue, 04/10/2012 - 19:29 | 2333131 Tsar Pointless
Tsar Pointless's picture

Nice observation, Severin.

The old "Problem reaction solution" approach has worked wonders for TPTB for quite some time, hasn't it?

Tue, 04/10/2012 - 19:35 | 2333141 SeverinSlade
SeverinSlade's picture

It has.  As has the hidden in plain sight tool.

I routinely show friends, families, and people I've just met articles, clips, movies, etc. where global government is openly talked about and promoted.  I show them reoccurring Illuminati/Satantic symbolism in mass media...And all the time, they dismiss it, arguing it is either entirely coincidental or "if it was some great conspiracy, why wouldn't they hide it?"

I even had one friend (now ex-friend) tell me that subliminal messaging and the subconscious do not exist...I simply asked him to explain using sex in advertising (something that is common knowledge) and he told me that I was wrong, and he was right.

Incrementalism is also a powerful tool for the elites.  Just look at the type of shit that's on TV these days.  It's getting dumber and dumber and more sexual and sexual.  50 years ago did we have shows like Jersey Shore, where people have no problem fucking each other or urinating in public?  Did we have movies like the Hunger Games where little children violently murder each other?


Tue, 04/10/2012 - 20:07 | 2333215 LetThemEatRand
LetThemEatRand's picture

She isn't perfect, but she's nailed a lot of what's happened in our recent history.  It's called "Disaster Capitalism."

She explains better than most how 9/11 and the '08 crisis were used by the oligarchs to solidify control.  

Tue, 04/10/2012 - 20:21 | 2333244 Cursive
Cursive's picture

...or you could check out this equally interesting site.

Wed, 04/11/2012 - 00:41 | 2333660 Oh regional Indian
Oh regional Indian's picture

VC is fantastic. Also Michael Tsarion and Jordan Maxwell. Superb insights.

Perhaps the title of this piece should have been: Today's Carnage Through the All Seeing Eye of Goldman. ;-)

This is called turbulence testing.... and this kind of volatility is coming to the PM market too. Great time to be alive and trading if you know your stops and are in paper PMs.



Tue, 04/10/2012 - 21:13 | 2333312 WonderDawg
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I've just about finished The Shock Doctrine by Naomi. Interesting read. Kind of puts a bullet through the Friedman/Chicago School of economics and exposes it for what it is, and it feeds right into the policies we see in the US today.

Tue, 04/10/2012 - 21:45 | 2333370 LetThemEatRand
LetThemEatRand's picture

Agreed.  She sees the forest like few I've read. 

Tue, 04/10/2012 - 20:23 | 2333248 Not Too Important
Not Too Important's picture

Hunger Games is a ticking time bomb for the ruling aristocracy. Just watch. It's coming.

Tue, 04/10/2012 - 21:19 | 2333325 Dr. Engali
Dr. Engali's picture

Agenda 21 fits the model nicely.

Tue, 04/10/2012 - 21:19 | 2333329 Stax Edwards
Stax Edwards's picture

You mean Survivor will become more brutal season/season if ratings decline?

Tue, 04/10/2012 - 19:45 | 2333160 knukles
knukles's picture

Jesus God, man....

The elections already have been eliminated. 
Do you really think for a moment a blank slate versus a died in the wool banker's friend is the choice of the "people" through a purely democratic ground swell uprising of the talented, gifted, altruistic states-persons?


The decisions have already been made behind the scenes (used to be called smoke filled back rooms) as to who is gonna be running on the red and blue shirt teams in the one game controlled by the commissioners comprised of the monied parties.

Elections have already been eliminated.
Get a fucking grip.

Tue, 04/10/2012 - 20:24 | 2333251 Rainman
Rainman's picture

Knuk....I greened ya only because I disgustedly must agree

Tue, 04/10/2012 - 21:30 | 2333345 Jake88
Jake88's picture

you can always vote for Ron Paul.  no law yet says we have to vote for one of the CFR puppets. 

Tue, 04/10/2012 - 21:34 | 2333349 john39
john39's picture

one word.  diebold.  its over.

Tue, 04/10/2012 - 22:25 | 2333427 BobPaulson
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Bingo, we have another winner. John39 wins tonight.

Tue, 04/10/2012 - 19:20 | 2333115 SeverinSlade
SeverinSlade's picture

In the end, America is just getting precisely what it deserves.  Obama today is behaving like Hitler, except he's black and trendy.  The idiot sheeple that are tired of Obama (and were tired of Bush after they were tired of Clinton, etc) are now gravitating toward Mittens Romney, who is exactly like Obama, except he's white and not as hip.  He's on the same page as Obama on every single fucking thing that matters and only differs with him slightly on some minor social policies.

We are literally living in the Matrix.  The sheeple are so wholly dependent on it that they will fight to the death to defend the very system that perpetuates their enslavement.

Tue, 04/10/2012 - 19:36 | 2333144 SeverinSlade
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1 junk.  Obama must have finished early on the golf course.

Tue, 04/10/2012 - 20:24 | 2333247 LetThemEatRand
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2 junks.    Biden pulled up ZH on his I-phone on his train ride home.

Tue, 04/10/2012 - 21:31 | 2333346 Reese Bobby
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I junked you both for thinking you are more enlightened than other people.  Exactly what are you doing to make any real difference that the regular person is not.  Posting on a group-think website?  ZH has been taken over by young, whiny, and worse, unlikable lemmings.  There, I feel better...and yes, I am moving on from this takes a little time to accept the new reality, but I am mostly silent here now.  Bite me.

Tue, 04/10/2012 - 21:37 | 2333352 LetThemEatRand
LetThemEatRand's picture

Not that it's any of your business, but some of us also do shit beyond posting on ZH and we find this an entertaining outlet for political discussion.  By the way, nice Hollywood handle.   Who is the lemming, asshole?

Wed, 04/11/2012 - 02:07 | 2333756 Central Bankster
Central Bankster's picture

since when is viewing lemonparty 4 times a day considered "doing other shit"?

Tue, 04/10/2012 - 21:37 | 2333353 SeverinSlade
SeverinSlade's picture

So a self admitting do nothing is blasting others for doing nothing (which is a pitiful assumption) about the height of hypocrisy.

I won't even get into what I do on a day to day basis.

Tue, 04/10/2012 - 21:43 | 2333366 wretch
wretch's picture

I don't believe you.

Tue, 04/10/2012 - 22:20 | 2333422 Reese Bobby
Reese Bobby's picture

My final, I hope, +1 for effective caustic humor.  Well done.

Tue, 04/10/2012 - 21:54 | 2333378 Crisismode
Crisismode's picture

You are a loser.


Self-evident piece of dog-turd.

But then, that was what you were trying to portray, was it not?


Tue, 04/10/2012 - 22:22 | 2333425 Reese Bobby
Reese Bobby's picture

That hurt because as you can imagine, I highly respect your opinion.  One question:  Do you think I am a loser.  It was a little unclear you wordsmith.

Tue, 04/10/2012 - 22:19 | 2333391 LetThemEatRand
LetThemEatRand's picture

P.S.  Good biography link.

 Asshole.  I hope your acting out here is not misplaced Blue Team tribalism.  Steinbeck was angry at the system, not a particular political party.  And his primary protest outlet?  Writing.   

Tue, 04/10/2012 - 22:20 | 2333419 Reese Bobby
Reese Bobby's picture

I expected responses that would confirm my observations, but almost ALL of you exceeded my expectations!  Thanks.


When I was young we had role-models like The Clash.  I'm not sure what you folks have.


But since you decided to stalk my "bio" page, the video is meant to reinforce the Biblical passage.  It may take half your life, or more, to understand.  Good luck.



Tue, 04/10/2012 - 22:32 | 2333429 LetThemEatRand
LetThemEatRand's picture

Sometimes this says it best.

Tue, 04/10/2012 - 22:33 | 2333441 Reese Bobby
Reese Bobby's picture

Meanwhile, you put me to sleep.  Even though I am now pretty sure my opinion doesn't matter.

Tue, 04/10/2012 - 22:39 | 2333450 LetThemEatRand
LetThemEatRand's picture

That would be the downside of "thinking you are more enlightened than other people."  Hypocrisy.  It's the new white meat.

Tue, 04/10/2012 - 22:59 | 2333477 Reese Bobby
Reese Bobby's picture

And this reminds me of you:

I'm all lost in the supermarket
I can no longer shop happily
I came in here for the special offer
Guaranteed personality

Tue, 04/10/2012 - 22:26 | 2333431 GeorgeHayduke
GeorgeHayduke's picture

You somehow think your expectations matter....

Tue, 04/10/2012 - 22:31 | 2333439 Reese Bobby
Reese Bobby's picture

And yet I still respect you.  I guess you "win" even though I somehow know that doesn't matter  Good luck.

Tue, 04/10/2012 - 22:51 | 2333463 GeorgeHayduke
GeorgeHayduke's picture

No need to win. Nice try at the holier than thou shtick though. Coming here to rile up posters does what, exactly, to meet your own expectations or to create the change you might want to see in the world?

I didn't say I had no respect for you, that is your own stuff to work through. However, another person's opinion, especially on a message board, is not my reality. By the way, did you list any expectations? Or did you just assume we should all live up to your expectations as you imagine them in your mind? Do you have difficulties in your relationships? Especially with the opposite sex?

My comment about expectations was posted to see if you are as "enlightened" as you indicate in an earlier post. Perhaps you have more to learn yourself instead of trying to tell others how to change the world in a manner that meets your expectations.

Tue, 04/10/2012 - 23:17 | 2333520 Reese Bobby
Reese Bobby's picture

First of all, at least I know I have a lot to learn.


And I did not list any expectations.  I'll give it a try:

ZH has mapped out the system that has ruined the future of this Country.  Even they are getting tired of explaining it, hence the "B Team."

Now I am not willing to join street protests to help educate the angry.  I admit it.  I am unwilling to give up the money it would cost me.  That is one reason I know I am no better than anybody else.

But why won't anybody?:

Explain to the young people willing to protest that Democrats and Republicans are the same thing.

Explain to them that CB's starve people, for real.

Explain to them the entire long-term plan to enslave the lower-middle class in a hopeless economy propped up by Federal handouts.

ZH has provided the knowledge but nobody has effectively shared it with the directionless protestors who have only figured out something is terribly, terribly wrong.

They have to know why, "You've got to say, 'I'm as mad as hell, and I'm not going to take this anymore!'"


So that's where my anger comes from, and am was surprised to find myself trying you to explain it to you.  Good Luck.


Wed, 04/11/2012 - 04:15 | 2333848 Western
Western's picture

What's weird is that you say you "have a lot to learn" yet you've posted more than I have in the past month.


You don't learn by posting your own thoughts.. but you knew that, and so does everybody else. Begone.

Tue, 04/10/2012 - 23:01 | 2333442 BobPaulson
BobPaulson's picture

I'm not debating with Reese Bobby but don't dis RATM. Regardless of the medium of expression, some anger leading to action would be a nice change.

Tue, 04/10/2012 - 22:15 | 2333413 GeorgeHayduke
GeorgeHayduke's picture

Hey...I do my best to live as off-grid, under-the-counter, and in the gray economy as possible while throwing as many legally allowed monkeywrenches as I can into this corrupt system. Not all efforts at change require a fan base, rating system, website, podcast, twit-er, Facebook page, or bullhorn.

Tue, 04/10/2012 - 22:27 | 2333432 Reese Bobby
Reese Bobby's picture

I respect that.  What are you doing here with metro-sexual's who mainly just bitch?


Please read "Mere Christianity."  You and my morning cab driver are my only conversion efforts of the day.  Sub-par effort on my part.  It is my hope God Blesses you and your family.

Tue, 04/10/2012 - 22:54 | 2333469 GoinFawr
GoinFawr's picture

"Well, blessed is just about everyone with a vested interest in the status quo, as far as I can tell, Reg"-Francis

Tue, 04/10/2012 - 23:31 | 2333547 Reese Bobby
Reese Bobby's picture

You really need to forget I recommended it and just read the book.  Christ is everything people have taught you he is not.  Don't listen to them, or me.  Just read the book.  A few hours out of a whole lifetime.  Why not?


It is a torturous route once you understand the Truth.  I prove that.  But it is crazy not to give it a fair consideration.  Good luck.

Wed, 04/11/2012 - 01:35 | 2333634 GoinFawr
GoinFawr's picture

Which book exactly? He's a prominent character in each of the magical tomes to which the Abrahamics take such pleasure in constantly referencing while murdering and stealing from the 'whatevers'.

I mean, I'd guess you're pushing the New Testament, but I wouldn't want to make any ignorant assumptions or anything.

"The vision of Christ that thou dost see, is my Vision's greatest enemy."-Nobody

"I am Christian. That obliges me to be a Communist"-GB Shaw.

I admit it is a guilty pleasure of mine to watch you lot try to wriggle out of that one....


Wed, 04/11/2012 - 01:51 | 2333735 Non Passaran
Non Passaran's picture

He said
> Please read "Mere Christianity

Wed, 04/11/2012 - 18:42 | 2336175 GoinFawr
GoinFawr's picture

Fair enough, my error. From Wiki's synopsis:

"His most important point is that Christianity mandates that one "love your neighbor as yourself.""

Right, well an atheist would argue that that sentiment is simply inherent to humanity (and perhaps even some other animals), and as such is nothing more than low hanging fruit for religions to appropriate as their own invention; it's at the core of many belief systems after all, not just Christianity... but getting back to my comment to which this tenet is directly related: how do cross worshippers of the US incorporate such a socialist notion into the "I'm all right so fuck all the rest" religion so prevalent in that country? Is it just an accepted paradox that they train themselves to ignore/accept? Or, far more likely judging by well documented historical record, is Christianity in the context of captialism merely a 'convenience of justification' kinda rationalization?

FWIW: Now that I'm all caught up I'll try the book, but I sure hope Wiki's summary has missed the mark by a wide margin...

Wed, 04/11/2012 - 19:30 | 2336346 Reese Bobby
Reese Bobby's picture

"...I'll try the book."  That is by far the highlight of my day.  I hope you do.


I think the Wiki synopsis misses most everything.  My imperfect preview:

“The terrible thing, the almost impossible thing, is to hand over your whole self--all your wishes and precautions--to Christ. But it is far easier than what we are all trying to do instead. For what we are trying to do is to remain what we call "ourselves," to keep personal happiness as our great aim in life, and yet at the same time be "good.”


“I am trying here to prevent anyone saying the really foolish thing that people often say about Him: I’m ready to accept Jesus as a great moral teacher, but I don’t accept his claim to be God. That is the one thing we must not say. A man who was merely a man and said the sort of things Jesus said would not be a great moral teacher. He would either be a lunatic — on the level with the man who says he is a poached egg — or else he would be the Devil of Hell. You must make your choice. Either this man was, and is, the Son of God, or else a madman or something worse. You can shut him up for a fool, you can spit at him and kill him as a demon or you can fall at his feet and call him Lord and God, but let us not come with any patronizing nonsense about his being a great human teacher. He has not left that open to us. He did not intend to.”


"What Satan put into the heads of our remote ancestors was the idea that they could 'be like gods'--could set up on their own as if they had created themselves--be their own masters--invent some sort of happiness for themselves outside God, apart from God.
And out of that hopeless attempt has come nearly all that we call human history--money, poverty, ambition, war, prostitution, classes, empires, slavery--the long terrible story of man trying to find something other than God which will make him happy."


Good Luck.

Thu, 04/12/2012 - 17:09 | 2338224 GoinFawr
GoinFawr's picture

That second quote there is a textbook eg. of false dichotomy.

It's pointless to keep selling a closed deal: I've said I'll read the book, don't change my mind.

Tue, 04/10/2012 - 22:55 | 2333470 GeorgeHayduke
GeorgeHayduke's picture

I try to rile up the misguided...with no expectations. Sometimes it's okay to just have fun for a bit and rant on here to unwind. Not all actions require a higher meaning or purpose.

Tue, 04/10/2012 - 22:09 | 2333404 GeorgeHayduke
GeorgeHayduke's picture

3 junks. Obama and Biden called their buddy Mittens to add his junk too.

Tue, 04/10/2012 - 19:47 | 2333165 knukles
knukles's picture

One major difference.




Tue, 04/10/2012 - 20:18 | 2333240 TWSceptic
TWSceptic's picture

You should expand on that and make a bear video of it.

Tue, 04/10/2012 - 20:41 | 2333242 Not Too Important
Not Too Important's picture

With Iran turning off Spain's oil today, the entire US global foreign policy just went down the shitter.

There is no Plan B. It's over, politically. Oh, we might rattle a saber here and there, but it's over.

It's the EU/US axis that's going to have a right hard landing. Very soon. Can't print energy.

Tue, 04/10/2012 - 20:59 | 2333294 Gohn Galt
Gohn Galt's picture

Mitt is better than Obama.  He has first hand experience and a real passion for the many forms of Genocide.


Tue, 04/10/2012 - 21:58 | 2333385 Westcoastliberal
Westcoastliberal's picture

I don't know of ANYONE who's "gravitating" toward Romney.  He kinda reminds me of a pile of day-old cow dung. The only one of the bunch I'd vote for is Ron Paul and it doesn't look like he's on the menu, so fuck 'em all!

Tue, 04/10/2012 - 19:28 | 2333123 Richard Chesler
Richard Chesler's picture

Not too far now from uptrend support drawn from the October lows.


Hold on to that bag muppets. It's all part of God's work.

Tue, 04/10/2012 - 19:38 | 2333148 SeverinSlade
SeverinSlade's picture

I can't wait to see "Funding for Sesame Street has been provided by...Goldman Sachs...and viewers like you!"

Tue, 04/10/2012 - 20:17 | 2333239 Yes_Questions
Yes_Questions's picture



Yep, on what they will want called masterpiece theatre:

Tue, 04/10/2012 - 20:17 | 2333237 Not Too Important
Not Too Important's picture

Won't be Asian. I think the BRICs are done with that shit.

Wed, 04/11/2012 - 14:32 | 2335304 PayneNita
PayneNita's picture

my classmate's sister makes $62 hourly on the laptop. She has been unemployed for 5 months but last month her pay check was $13843 just working on the laptop for a few hours. Read more on this web site ....

Tue, 04/10/2012 - 20:10 | 2333221 israhole
israhole's picture

hot "shiksas"!

Tue, 04/10/2012 - 19:12 | 2333097 Hansel
Hansel's picture

Or:  It's blame Europe time again, as the U.S. needs to issue $66 billion in debt this week.  The market takedown the last 5 days has brought 10 year yields 25 bps lower, with yield back under 2%.  Dumping more UST debt on the muppets should go off without a hitch.

Tue, 04/10/2012 - 19:19 | 2333110 Tsar Pointless
Tsar Pointless's picture

Yep. Then next week, the Muppets are sold the S&P again, just in time for April OpEx.


Tue, 04/10/2012 - 19:21 | 2333118 AbelCatalyst
AbelCatalyst's picture

Hansel: excellent point! Look for some more QE whispers/rumors AFTER the debt has been auctioned! This is why the FED has not said a word - they need to drive demand for "safe" paper up and rates down just as it goes to auction.

+1 Hansel!!

Tue, 04/10/2012 - 21:15 | 2333266 Stax Edwards
Stax Edwards's picture

jbAlcoa surprise will be trumpeted by MSM so I predict equity short covering rally tomorrow AM.  By thursday everybody back short again, and end the week red from here.  We shall see.

The symbiosis you describe is nothing short of remarkable.  Did not think yields would drop so much this fast. Fascinating.



Tue, 04/10/2012 - 19:13 | 2333098 Dr. Engali
Dr. Engali's picture

What's wrong with the market through the eyes of Goldman..... Start by looking in the mirror.... Then take a glance at the fed.

Tue, 04/10/2012 - 20:51 | 2333285 Not Too Important
Not Too Important's picture

“The financial industry has placed itself above the investing public ("muppets") and will take every advantage it can secure,” said Alan Newman, author of the Crosscurrents financial newsletter. “The public's confidence has been shattered, possibly beyond repair.”

Ya think???

Tue, 04/10/2012 - 19:47 | 2333166 Lost Wages
Lost Wages's picture

Goldman making muppet eyes red with rage.

Tue, 04/10/2012 - 20:25 | 2333252 Not Too Important
Not Too Important's picture

Goldman will feel the wrath of the ghost of Jim Henson.

Tue, 04/10/2012 - 19:53 | 2333180 chump666
chump666's picture

And the QE spec trade is dead as dead. 13000 was the top and everyone knew that, Goldman knew that. Now this market turns back to its 2011 ranges/lows again.  With nice dashes of panic.

Tue, 04/10/2012 - 19:54 | 2333185 buzzsaw99
buzzsaw99's picture

Translation: It ain't easy being golden. :snark:

Tue, 04/10/2012 - 20:01 | 2333199 Pairadimes
Pairadimes's picture

The cake is a lie.

Tue, 04/10/2012 - 20:03 | 2333204 slewie the pi-rat
slewie the pi-rat's picture

 <----< the NYFED

 <----< pimpco

who was most likely shorting Ts here?:  " we also saw some stabs at reinitiating shorts at these levels from both levered accounts and real money"

or:  some bot else?  only $1 to play!  L0L!!!

Tue, 04/10/2012 - 20:32 | 2333255 Yen Cross
Yen Cross's picture

I got a decent smackdown last night/today Slewie. Although I was able to clip my gbp/jpy shorts for some profit. The freaking European banks are liquidating everything but the kitchen sink, and propping up the Euro via repatriation. China had decent numbers and Alcoa beat, yet the aud get's hammered. I'm going to stay in it until  1.0200 handle gets broken.Like the intrest/carry and it's heavily oversold.

 Hope you did ok.

  Oh yea, The vampire squid needs a new inkjet cartridge. That B/S has no end!

Tue, 04/10/2012 - 21:44 | 2333368 slewie the pi-rat
slewie the pi-rat's picture

i'm fine;  shit, Y/C, slewie doesn't own anything

disappointed my daughter got caught in weather and wasn't able to stop by;  i'm getting webbed feet, but we do need the rain, still:  l>>>bequerels,Bichez!<<<

this has been something!  asia sotocks just took a dive, but i'm looking at green nikkei futures?

the EZ thing is big, maybe:  liquidations leading to bankstering condolidations or wipeouts of bad banks?  is this it? 

that jpMorgue trader "broke" the CDS index last friday, but i have yet to see anything except conjecture on what actually happened, but i had a suspicion some of the EZ banks might go over the falls he created

whether that makes a bit of sense i don't know, but you saw my posts about this over the weekend and yest, perhaps;  the world biggest banksters "breaks" the world's biggest whatever~~derivatives index~~w/ what one ZH article said: ~$75Bil?  and the EZ markets are closed yest, while the futures got fuking clocked

yeah!  i guess we're seeing some liquidations in EZ banks! (BAC  -4+%, too);  tyler's daily summary addressed alcoa's "beat" which, today, pushed its stock down just shy of 3%;  29 red industrials + HP green = DJIA

with this much risk0ff, after so many "misses", the libor spiking, and all the iffiness around china, and both the PB0C and the B0J pointing out that the FED has the ball, here, and is calling the plays (how weird was that?) matbe we're s'posed to think that the FED is calling the plays

if so, i think the plays are around the EZ bankstering messes

bruceK has a piece up top abt the SNB and the EUR support which is a + read

these seem to be orderly "markets" tho, Y/C;  people may not be very happy with them, but as far as blowtorches go, this is just a singe, so far, imo

central planning is not always goldilocks, perhaps?  this appears to me to be totally cPlanned if i'm correct about these fingerprints:  theMorgue's, the FED's, the ECB (LTR0), and the 2 asian cBs

i've never seen anything like this, Y/C, or maybe i have but didn't know what i was seeing;  it looks to me like maybe there is some firewall agreement or convention in place and they are roasting some europeonBankster marshmallows with the blowtorch

wait!  is that gallagher?  with the sledge-0-matic?!?!?

let's get the ponchos on and go sit in the front row!

Tue, 04/10/2012 - 22:08 | 2333401 Crisismode
Crisismode's picture



You have more brains than 99% of the people on this board.


Please keep contributing, your input is great and welcome.


Via con Dios.

Tue, 04/10/2012 - 22:11 | 2333405 derek_vineyard
derek_vineyard's picture

i think i clearly understood what slewie wrote there

i'm scared

Wed, 04/11/2012 - 11:03 | 2333595 RockyRacoon
RockyRacoon's picture

There is a Slewie threshold.  Once crossed you'll never be the same.  When he starts making sense you have entered the netherworld of cosmic understanding.  He is Joseph Campbell's legendary Bliss and must be followed.

Tue, 04/10/2012 - 22:53 | 2333468 Yen Cross
Yen Cross's picture

The ECB/BiS will open the flood gates, and Ben will swap them into infinity. We all know the shithole Europe is.

This is just a good opportunity to T/P and reload much lower. One thing Tyler never mentions. All those M.E. petro dollars get rinse washed through the euro. This whole party is so convoluted! 

 I'm long " Wall Safes"!  Gallagher is a lot of fun to watch. I miss George Carlin!

Wed, 04/11/2012 - 03:26 | 2333816 slewie the pi-rat
slewie the pi-rat's picture


yes, but a coupla things

  • i think the banking assets could be reconfigured/consolidated
  • if the SNB has a lot of EUR [b/c they have already>>>CTRL +P], might they not purchase some of these assets?
Tue, 04/10/2012 - 20:13 | 2333226 Yes_Questions
Yes_Questions's picture



@ GS sales/trading:

Your mother is calling:

Tue, 04/10/2012 - 20:35 | 2333267 razorthin
razorthin's picture

All this catastrophizing over what is a tiny pull back so far is hilarious.  The planners have so FUBARed this market that most everyone cannot even stomach a paltry back and fill.

Of course I am hopeful that it is the beginning of something more serious.

Tue, 04/10/2012 - 20:45 | 2333277 Stax Edwards
Tue, 04/10/2012 - 21:16 | 2333319 WonderDawg
WonderDawg's picture


Tue, 04/10/2012 - 21:56 | 2333380 Westcoastliberal
Westcoastliberal's picture

Lather, rinse, repeat.

Tue, 04/10/2012 - 21:13 | 2333315 disabledvet
disabledvet's picture

we've been long equities and treasuries for three years now...both money good. i wrote i think here but also at Seeking Alpha that "we were expecting a market sell off and would be looking at buying opportunities as a consequence." The sell off is well underway and as the Durden's should tell anyone who cares about anything "ZH has sucked ass at calling every aspect of this market" (save for Gold of course!) so as with being short so it is with being long however: it's everywhere and always an educated guess. The biggest threat to the ECONOMY AS A WHOLE is a "beggar thy neighbor" insanity--which is all too real since the totality of economies worldwide...with Europe front and center...are PURELY mercantilist...which makes it almost impossible to yield any type of returns in any market (save gold) as "debasement of everything by all" with the sudden hiking of trade barriers "due to excessive competition" is the only...ahem "economic strategy." We shall see. Tis a recipe for second leg down in a banking debacle needless to say...with regionals front and center should this occur. The..."White Whale of London" sounded eerily familiar...not that President Obama should be surprised since he already has AIG's "Special Prodcuts Group" fiasco during the Bush Administration to look at to remind him of the difference between "real change" and "change we can believe in." Thank God for all those prosecutions as a result of the first debacle!

Tue, 04/10/2012 - 22:17 | 2333416 Crisismode
Crisismode's picture

You have all the brains of a Beached Whale.


As a matter of fact, your blubber would make a nice meal for the Inuit.


Please shut down and phase out at the first possible instance.


Tue, 04/10/2012 - 22:56 | 2333472 disabledvet
disabledvet's picture

what's wrong with a beached whale? and i'll have you know "my brother works with those Inuit" and they'll take your subsidized standard of living thank you very much! in fact...I'D take their subsidized standard of living thank you very much! Anywho..."this is how we are now force to live." Not that i have a problem with hunter/gathering of course. One of my favorite pass time. Here's how we like to approach "buying a stock" with your friend and mine...stockpicker "Gauge" you "super survivalist" you:

Tue, 04/10/2012 - 23:16 | 2333511 besnook
besnook's picture

have to agree with your general theme. i stayed short on the first ramp for too long because i try to trade fundamentals so missed the change in the game. essentially the market is now a game of destruction of assets in one area followed by a ramp in printing to juice some other area(russell 2000 mostly but also to create a facade of reality in the usa bond market as investors think they are buying a safe haven). my basic strategy has always been to follow the bond market to play the stock market. the bond market has diverged from reality into an alternate state of the bernank zone.  gold has, despite its manipulation, been the only true indicator of the state of world economics, panic minus one tiny push over the edge. so now my trading is based upon the premise that bernank, squid and the euro blob will go to extreme extremes to keep on keepin on which will continue to ramp the market, and gold and commodities until a massive capacity destruction event is initiated as the unintended solution to all the world's problems. ponder that. orwell's world will be right about one thing. war is peace. in the meantime i buy scrap jewellry in case they take my rounds and bullion for the good of the nation and am hoping inflation finally does ramp so i can pay my mortgage off for pennies before the official reset.

Tue, 04/10/2012 - 21:19 | 2333328 disabledvet
Tue, 04/10/2012 - 21:27 | 2333342 Atomizer
Atomizer's picture

Fuck you Goldman and Central planners.


Tool - Right in Two

Monkey killing monkey killing monkey

Over pieces of the ground.

Silly monkeys give them thumbs,

They make a club

And beat their brother down.

How they survive so misguided is a mystery.

Repugnant dismal creature who would squander

The ability live, to die, and have a conscience

Brothers live and die here 

Good luck to you Goldman, the clandestine book keeping in funding War on Terror opposition just might find itself involuntarily available. Calm down, your network friends are also exposed. Winks!

Tue, 04/10/2012 - 23:33 | 2333560 Atomizer
Atomizer's picture

Thanks for link

Tue, 04/10/2012 - 21:51 | 2333372 dogbreath
dogbreath's picture  isn;t the price action "jerkier than normal.     looks like an seesaw battle

Tue, 04/10/2012 - 22:21 | 2333423 gimli
gimli's picture

It's just Blythe rehedging her hedges and her customers hedges and her neighbor's hedges (.......Thuja Emerald

Tue, 04/10/2012 - 22:04 | 2333396 the 300000000th...
the 300000000th percent's picture

When this shitwagon economy crashes I will grow fat on cannibalizing my fellow slow lazy deer in the healights Amerikans. Let the feast begin cause I'm hungry

Tue, 04/10/2012 - 22:14 | 2333411 lsbumblebee
lsbumblebee's picture

What is it about that name?

Tue, 04/10/2012 - 22:20 | 2333418 Texas Ginslinger
Texas Ginslinger's picture

Goldman's response to this thread would be something like; "Who cares - we are making money hand over fist."

I am not defending them, just saying that they are making a shit-load of money off their clients, and that is all that matters to them.

ZH makes money off their advertisers by maximizing the number of viewers here.  Same thing, really.

So, what's the rumpus..??  You entice the customer, you sell the product, you charge the advertiser based on the web traffic, you make the money...

The American dream, right..??

Tue, 04/10/2012 - 22:46 | 2333458 Atomizer
Atomizer's picture

Texas Ginlinger, I have to play off some bad bets that my banking friends made. Would you mind if we borrowed your account monies to pay it off? Your account may be frozen for a few days, don't worry. Every dime will be returned shortly. Would you mind confirming your ACH transfer number for me? For your inconvenience, we will be overnighting a case of tasty ramen noodles to hold you off during our bank transfer delays. 

You said..

ZH makes money off their advertisers by maximizing the number of viewers here. Same thing, really.So, what's the rumpus..?? You entice the customer, you sell the product, you charge the advertiser based on the web traffic, you make the money...

Explain to us how that is the same. Thank you.

Tue, 04/10/2012 - 23:08 | 2333496 disabledvet
disabledvet's picture

"results have no bearing on the opinions expressed therein." not that i mind the opinions

Tue, 04/10/2012 - 23:36 | 2333569 Atomizer
Atomizer's picture

Again, the world will continue with or without you.

Tue, 04/10/2012 - 23:36 | 2333568 chump666
chump666's picture

hahahahahahaah ah sh*t

Look Goldman are lying crooks, worst part they are f*cking hypocrites.  They gamed the American goverment ala the taxpayer when they (Goldman) should have been wiped off Wall Street, or at least broken up.  Instead Obama that f*cking illogical president and his merry butboys bailed them out.  Daily Goldman set bull-traps for people like you and their buddies.  It's a game and Goldman are sly f*ckers.

But the endgame is close.  Meaning?  US credit markets could get wiped out again.  Cue the Fed and Obama.  He bails out Wall Street again before his election...


Tue, 04/10/2012 - 22:27 | 2333433 AndrewCostello
AndrewCostello's picture


The very name tells us where the true wealth lies.  While they tell us all to buy stocks and bonds, they are secretly grabbing all the physical gold and silver they can - because they know that a gold standard will return.


Read this book and get out of the system, stop being a slave.

Tue, 04/10/2012 - 23:15 | 2333516 hotrod
hotrod's picture

I’ll cut right to the chase. The change in full time employment in March was much, much better than the headline data suggested. The seasonally adjusted increase in non farm payrolls of 120,000 was a big miss, and is ostensibly the reason for the stock market selloff. The real reason is that the government and Primary Dealers have a pile of long term Treasury paper to roll over and sell this week, so they needed to shake the stock market tree to free up some dollars for Treasuries. I covered that story in the Wall Street Examiner Treasury and Fed updates. But the government and the market owners and managers needed a kernel of a story to kick off the selling of stocks and buying of Treasuries, and the employment data was it. The enabling mainstream financial media shills played their Chicken Little roles perfectly.

Wed, 04/11/2012 - 00:57 | 2333674 q99x2
q99x2's picture

BTFD. Futures are up up and away.

Floaters save the day.

Wed, 04/11/2012 - 03:05 | 2333803 Olympia
Olympia's picture

The over-profits of the shark loans in the USA not only did not turn their dollars into inflationary money, but also they were multiplied and exported abroad in the form of “investments”. The illegally “increased" dollars of the internal USA economy become tons of “investments” abroad. FED printed cheap money and loansharking multiplied this money in an unnatural way within the American economy boarders and they discarded them abroad so that they did not threaten USA. USA became the first state in the world with artificial “breathing” ...the first state that burdened the international economy with its “breathing” ... and this is where everything started ...this is where the current shabbiness started, Loan sharks that are international today and “hide” behind the vague term of “Markets” are in fact the old loan sharks of the American market. They by controlling the USA monetary system “pumped in air” constantly in order to make profit from the USA “breathing”.




Wed, 04/11/2012 - 04:06 | 2333842 Colonial Intent
Colonial Intent's picture

SOCIALISM You have 2 cows. You give one to your neighbour.

COMMUNISM You have 2 cows. The State takes both and gives you some milk.

FASCISM You have 2 cows. The State takes both and sells you some milk..

TRADITIONAL CAPITALISM You have two cows. You sell one and buy a bull. Your herd multiplies, and the economy grows. You sell them and retire on the income.

AN AMERICAN CORPORATION You have two cows. You sell one, and force the other to produce the milk of four cows. Later, you hire a consultant to analyse why the cow has dropped dead.

A GREEK CORPORATION You have two cows. You borrow lots of euros to build barns, milking sheds, hay stores, feed sheds, dairies, cold stores, abattoir, cheese unit and packing sheds. You still only have two cows.

A FRENCH CORPORATION You have two cows. You go on strike, organise a riot, and block the roads, because you want three cows.

A JAPANESE CORPORATION You have two cows. You redesign them so they are one-tenth the size of an ordinary cow and produce twenty times the milk. You then create a clever cow cartoon image called a Cowkimona and market it worldwide.

AN ITALIAN CORPORATION You have two cows, but you don't know where they are. You decide to have lunch.

A SWISS CORPORATION You have 5000 cows. None of them belong to you. You charge the owners for storing them.

A CHINESE CORPORATION You have two cows. You have 300 people milking them. You claim that you have full employment, and high bovine productivity. You arrest the newsman who reported the real situation.

AN INDIAN CORPORATION You have two cows. You worship them.

A BRITISH CORPORATION You have two cows. Both are mad.

AN IRAQI CORPORATION Everyone thinks you have lots of cows. You tell them that you have none. No-one believes you, so they bomb the ** out of you and invade your country. You still have no cows, but at least you are now a Democracy.

AN AUSTRALIAN CORPORATION You have two cows. Business seems pretty good. You close the office and go for a few beers to celebrate.

A NEW ZEALAND CORPORATION You have two cows. The one on the left looks very attractive...

ROYAL BANK OF SCOTLAND (VENTURE) CAPITALISM You have two cows. You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for five cows. The milk rights of the six cows are transferred via an intermediary to a Cayman Island Company secretly owned by the majority shareholder who sells the rights to all seven cows back to your listed company. The annual report says the company owns eight cows, with an option on one more. You sell one cow to buy a new president of the United States , leaving you with nine cows. No balance sheet provided with the release. The public then buys your bull.

Wed, 04/11/2012 - 04:38 | 2333855 Peter K
Peter K's picture

COMMUNISM You have 2 cows. The State declares you a Kulak and kills you. 

Do NOT follow this link or you will be banned from the site!