Volumeless Levitation Sends Market To Closing High As VWAP Unchanged On The Day

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Mon, 11/07/2011 - 17:12 | 1854695 GeneMarchbanks
GeneMarchbanks's picture

The latest in a series of Short bans...

Mon, 11/07/2011 - 17:34 | 1854763 rosex229
rosex229's picture

I really can't figure this out at this point. If you talk to any individual (in private that is, not on CNBC) whether they're a banker, politician, investor, hedge fund manager, etc. They will readily acknowledge the intense strengthening of severe downside risks over the last week. I mean look at Italy's yields! Are market participants waiting for the outcome of the vote tomorrow before fleeing? I have a sneaking suspician that even though most market participants see the writing on the wall their desire to make up some lost ground from recent losses is keeping them in the market until the very last possible moment.

Mon, 11/07/2011 - 17:50 | 1854799 redpill
redpill's picture

Just look at them yawning bands.  Bollinger?  I don't even know her!

Mon, 11/07/2011 - 21:23 | 1855254 DeadFred
DeadFred's picture

A double top at the 61.8 retrace of the recent drop. Sounds bullish to me. The whole universe according to the bots consists of charts and news feeds. They can't tell what's real and they don't care. Real people on the other hand should care but it's been so long since facts mattered that their memories are growing dim.

Mon, 11/07/2011 - 17:12 | 1854697 Richard Chesler
Richard Chesler's picture

A healthy and CONfident market.


Mon, 11/07/2011 - 17:12 | 1854698 Irish66
Irish66's picture

Everything I open to use is smaller than it used to be, very annoyed

Mon, 11/07/2011 - 18:23 | 1854904 J 457
J 457's picture

Not only is it smaller than it used to be, it seems more wrinkled too.  Yes, very annoyed, but it comes with age.

Mon, 11/07/2011 - 17:12 | 1854699 Western
Western's picture

Smelly turd of a market.

Mon, 11/07/2011 - 17:23 | 1854742 HedgeAccordingly
HedgeAccordingly's picture

Pictures of hot chicks should cheer us all up. - http://hedge.ly/gFWVSm

Mon, 11/07/2011 - 18:55 | 1854998 Hedge Fund of One
Hedge Fund of One's picture

Certingly! Thanks for that. :-)

Mon, 11/07/2011 - 17:13 | 1854700 pods
pods's picture

The only way to win is not to play.


Mon, 11/07/2011 - 17:25 | 1854746 GeneMarchbanks
GeneMarchbanks's picture

Or stop shorting because this is clearly some sort of a shorting ban.

Mon, 11/07/2011 - 17:49 | 1854795 EL INDIO
EL INDIO's picture

Very wise man, very wise.

Mon, 11/07/2011 - 17:13 | 1854702 mynhair
mynhair's picture

Was this not Mutual Fund Monday?

Mon, 11/07/2011 - 18:30 | 1854922 SheepDog-One
SheepDog-One's picture

The article says 'Apparently not'.

Mon, 11/07/2011 - 17:13 | 1854704 ZeroPower
ZeroPower's picture

Watch us gap up big tomorrow. Problem's haven't changed, except rumor mill is working 10x as hard as the prior weeks it seems.

Mon, 11/07/2011 - 17:16 | 1854719 topcallingtroll
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It figures.

Just when I went all cash again.
I think Santa just arrived early.

Mon, 11/07/2011 - 17:36 | 1854775 GeneMarchbanks
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Mike "I went to jail" Milken: Get rid of fatty


and the markets will soar!

Mon, 11/07/2011 - 17:14 | 1854705 javajaw
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Mon, 11/07/2011 - 17:15 | 1854709 monopoly
monopoly's picture

Just your standard Broken Markets. Nothing has changed.

Mon, 11/07/2011 - 17:15 | 1854712 Traianus Augustus
Traianus Augustus's picture

Today's markets commit another crime...when does the punishment get here?!?!

Mon, 11/07/2011 - 17:17 | 1854714 max2205
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Mon, 11/07/2011 - 17:25 | 1854747 topcallingtroll
topcallingtroll's picture

Yeah...I have had some good runs recently, but now may be time for doing the opposite of what I think.

If I am now a contrary indicator again it means;
Gold up
Risk on/reflation trade on
Dollar down.

Because I am all usa cash again.
My trades have been consistently wrong fall and winter....scary.

Mon, 11/07/2011 - 17:16 | 1854718 Caviar Emptor
Caviar Emptor's picture

The "It's all Good" market ...

Just remember this: if bio warfare killed every human being, the market would edge up the next day because the bots would still be running...until the power plants finally shut down. Kinda beautiful, actually. 

Tue, 11/08/2011 - 01:23 | 1855629 you enjoy myself
you enjoy myself's picture

i'm starting to have that same mindset too.  in a detached, academic, bemused wonderment i'm now just really curious how long this nonsense can persist.  hmmm, you think a whole 'nother year?  yeah, that'd be really neat - reminds of when we saw that guy careening towards the cliff after hitting black ice.  he really went on forever.  crazy, right?  i know!

Mon, 11/07/2011 - 17:17 | 1854720 Oswald Spengler
Oswald Spengler's picture

The music doesn't stop until the ship goes under.

Mon, 11/07/2011 - 17:18 | 1854725 Dick Darlington
Dick Darlington's picture

The unelected have spoken! Ugh!

11-07 16:03: EU's Junker says there could be a teleconference to approve... Coulda shoulda woulda...

11-07 16:03: EU's Rehn says new Greek government, once set up, must express... Oh, if it's in written then we all believe they will do all the things they didn't do since the first bailout 1,5 yrs ago...

11-07 16:03: EU's Juncker says EFSF will now consult markets to come up with... Mr "when things get tough I have to lie" apparently didn't see todays "consultation" with markets when the epic failure of EFSF printed undersubscribed (plus downsized with shorter maturity and once delayed) PLAIN VANILLA bond...


Mon, 11/07/2011 - 17:27 | 1854753 GeneMarchbanks
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Juncker, Rehn, Barroso, Von Rompuy, Merkozy, the Paps... neverending (shitty) story...

Mon, 11/07/2011 - 17:21 | 1854731 midgetrannyporn
midgetrannyporn's picture

The consistent vwap thingie is definitely bullish.

Mon, 11/07/2011 - 17:21 | 1854733 bmusic
bmusic's picture

It's amazing how well they are able to play the headline scanning algos.

Mon, 11/07/2011 - 17:21 | 1854734 bmusic
bmusic's picture

It's amazing how well they are able to play the headline scanning algos.

Mon, 11/07/2011 - 17:24 | 1854739 silverserfer
silverserfer's picture

its like the algos are taking out the shorts in equities like JPM has been taking out the silver longs. its harvest time. Somebody up top ordered bear stew. So it will be bear stew for supper this winter.

Mon, 11/07/2011 - 17:23 | 1854741 mynhair
mynhair's picture

"When AVL pops, I listen."

A C change is in the works.  Must be that Chinee tril going at it.

Mon, 11/07/2011 - 17:26 | 1854750 Mark123
Mark123's picture

Did someone just depreciate fiat currencies?


Funny thing...over the last month S&P is up about 14% and Gold is up about 12%.  A beautiful symmetry?

Mon, 11/07/2011 - 18:15 | 1854880 SheepDog-One
SheepDog-One's picture

Yes, and equities are not keeping up with fiat depreciation, AT ALL. 

Mon, 11/07/2011 - 17:26 | 1854751 Alex Kintner
Alex Kintner's picture

This market is on Propofol.

Mon, 11/07/2011 - 18:49 | 1854977 Saro
Saro's picture

Or viagra.

Mon, 11/07/2011 - 17:26 | 1854752 lolmao500
lolmao500's picture

You know what's funny? Italy's budget vote that could lead to the fall of Berlusconi is tomorrow morning at 9.30AM EST... right on schedule for the stock market open.

It could be hilarious if Berlusconi falls.

Mon, 11/07/2011 - 17:41 | 1854783 youngman
youngman's picture

What politician would want the job of crashing the country....and his name attached....

Mon, 11/07/2011 - 17:28 | 1854756 LongSoupLine
LongSoupLine's picture

Central Banking...period.

Mon, 11/07/2011 - 17:28 | 1854757 NEOSERF
NEOSERF's picture

Take this to an illogical extreme and there is no reason this market can't go to 15K by next Spring even with recessions, higher unemployment and a banking collapse...everything bad is simply an opportunity to clear volume out in the first few hours...

Mon, 11/07/2011 - 17:29 | 1854759 PontifexMaximus
PontifexMaximus's picture

The market must climb the wall of worries, too many short positions around, can't fall of the cliff, needs to suck in the shorties. Berlusca will win confidence, but it won't change the big picture, time is running out. But big numbers first...

Mon, 11/07/2011 - 17:37 | 1854778 sabra1
sabra1's picture

everyone keeps saying to many shorts around! bullshit! everyone i know is in cash, sleeping well at night, in their canadian homes, which are not in a bubble! HFT's are programmed to run through everyone's stops, short or long!

Mon, 11/07/2011 - 18:14 | 1854811 SheepDog-One
SheepDog-One's picture

Right, I know of no 'shorts' myself. This is just manipulation, a ton of longs stops are getting kornholed daily on 2% swings, theyre not doing jack shit either.

Mon, 11/07/2011 - 21:14 | 1855242 Mesquite
Mesquite's picture

The goal of the algos is to scoop up money...

That's the way I see it...

Mon, 11/07/2011 - 18:29 | 1854919 SheepDog-One
SheepDog-One's picture

Pontifex what 'big numbers'...like the inflation adjusted US market levels which are at about 1995 values now? If even that good? Not impressed.

Mon, 11/07/2011 - 17:32 | 1854765 Dr. Gonzo
Dr. Gonzo's picture

I just looked at the 1 year chart for the DJIA. It looks like a sick pig. AND I DON'T EVEN KNOW HOW TO READ CHARTS!!! We've moved 20% higher in 1 month after a 1 month 20% increase. Anybody who is prudent would RUN AWAY from this thing. I am of course shorting the shit out of it.

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