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Waiting For The "Cashin Crash"? Here Is The "Fermentation Committee Chairman" Himself With An Update
Last week Zero Hedge as well as many others, noted the observation by UBS' Art Cashin that the market was setting up for a "Thursday/Monday" Crash, which was lining up perfectly going into the European open, until someone, somewhere decided to start buying up everything. Does that change the expecation for a wipe out today? Here is Art himself with his updated take on what (and what not) to expect today.
From UBS' Art Cashin
Whenever You Find The Key To The Market, They Change The Locks - That wry comment from the late Gerald Loeb seems particularly apt this morning. Lots of nice folks cited my projection of a possible Thursday/Monday Crash Syndrome setting up. We think the numerous citations were not based on any particular credibility we may or may not have. Rather, we think people gravitated to the concept because, if it occurred, it would “clear the air” after weeks of whipsaw volatility.
Jason Goepfert of SentimenTrader even did a computer run on the syndrome using his massive file of data (among the best in the Street). He studied the occurrences going all the way back to 1930. (I was just thankful that it showed up and was not an old fogey’s delusion.)
Over the weekend, there were still hopes that the Syndrome might follow through. Asian markets were quite weak, with Thailand, in particular, looking like it might slip into a death spiral. But, as they headed for their respective closes, they bounced solidly off the lows. U.S. futures whipsawed before finally turning higher in response to their European cousins. So, it looks like the pattern will not complete and we will be denied the capitulation selloff and subsequent reversal. Too bad!
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The Careless Whisper Morning Report
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Code speak now.
Federal reserve is now House of Crap or Feral Reserve
Bernanke is to be referred to as Bukake
Geithner as Beavis
Paulson as Butthead.
I wander if Feds are going to go after the blogers or their readers too...
don't worry, you should be safe with that bag over your head. lulz
yes.. Bag over the head but his (SL)IP is showing. very easy to track him or anyone of us with a head. :) :)
"Federal Reserve Bank Of New York Announces Plan To Monitor Social Media"
"FRBNY Intends To Identify Key Bloggers"
Earth calling Feds, do you copy? Ohhh ....good!!! File this under "pulse of the people" you idiots!!! Not everyone is a blazing, mouth foaming raving loony .... just fed up of being hosed @ every turn by the Gov & Mongo ACME Inc, duopoly!!! For now just content with venting via keyboards. Question is, how much longer??? The belts people keep tightening, at some point can become nooses!!! Question is: for whom???
http://www.businessinsider.com/jamie-dimon-lloyd-blankfein-mark-carney-capital-requirements-2011-9
Why no story here ZH?
Dimon is fighting to continue the toxic ways while at least someone is attempting to hold them accountable and make the banking requirments come back down to reasonable levels.
you give em an inch and they take the whole 25,000 miles!
I'm suprised you missed this most important Careless Whisper report:
http://www.youtube.com/watch?v=GaoLU6zKaws
is this a means to change? not sure, the political problems are the economic problems. herman cain 4 prez.
http://expose2.wordpress.com
Are my charts wrong or is there ZERO volume this morning?
Got a great deal on some SLV JAN12 calls this morning. They appear to be on sale.
Crystal balls appear to be on sale as well.
Everybody knows you can't predict the future with crystal balls. you can only do that with bone weighing. The best bones to use are the once of a central banker!
Wallpaper is in aisle 3.
Did you mean Wallpaper is in portfolio #3?
I fear it is in just about EVERY portfolio, including those long cash.
Friday action was most bizarre, if gold and silver were hit so hard , the markets should have tanked as well. Coming on the 4th retest of the support and weak bounce, weird.
Gold/silver were drive-by shootings via margin hikes. Liquidations had to migrate somewhere.
I'm feeling like the banksters have their axes sharpened for more margin hikes as a strong defensive measure against any hint of mass movement to "real currencies" while they conduct last rites on the Euro...
It's the Bernanke's Plan. A new way to fund his Fav Five Fraud Banks.
They raise Gold and Silver Margins.
Then you buy the stocks the Fav Five need to sell. Banks: Win, Win.
gold and silver were sold to rasie cash to buy the market, that what i reckoned at least.
~sigh~ this bitch just wont die
Rest assured, this market's days are indeed numbered...
http://scottgodlewski.com/images/195638~Die-Monster-Die-Posters.jpg
Too bad, indeed. Now all we are left with is more criminal syndicate Wall Street generated volatility.
At some point soon they will just decide to let it all go down, after theyve shorted of course.
Of course. These desperate gap up/ramp ups are all about putting things in the perfect position to short. A week ago Friday, the most notable example of this was AMZN...with criminal printing of profits on upside calls, followed by short selling of shares. The shares reached a point where not even the dumbest Chinese algo would buy them, green lighting wholesale syndicate shorting.
Spot on, Dog.
And the greater American Depression rolls on until such time as the banking cartel is finally removed from the co located pipeline of computer theft.
Thank You Central Bankers!
If it wasn't for your most obvious manipulations I would have not been shaken from my blissful sleep.
Now that I am awake it has become painfully obvious that they are going for broke here and now.
Every intervention buys time for preparation.
Eh, it will just "die another day"!
vol of vol
wow what a LETHARGIC Monday US open.....least volatility opening that i've seen on monday in a bit
First time in 3 weeks Rule 48 was not invoked on the weekly opener.
Always respected Art, at least he gives honest commentary, even if not spot on.
AAPL, Hmm. 0
LOL i spoke too soon....someone decided today actually is a market open day i guess
Black Monday of 1929 redux?
What is going on with Netflix? Do people really believe the stock is oversold At this rate the stock will be back at $200 in a couple weeks. The banks rise again. Apple down $9.
What the F the Dow jumped almot 100 points in one minute!!!
fuctard Cramer just said "buy" on CNBS.
"Buy" or "bye"?
First "bye" then "BUY!!!".
Its going to be another day of "we're off the highs!" and "we're off the lows!". Ugh.
or it will take a couple hours!
Anybody find Wynter Benton's body yet?
ROTFL! Bulls & bears alike scattered to the wind as the bankstering continues to rape, pillage, and plunder ameriCON'd. I'm giving it 9 months before the politicians will not be able to campaign without their heads accidentally vaporizing.
100 point DOW swings in under 1 minute...yea this is a real rational sane market, sure.
Another example of great FED success in mandate #1, price stability!
FUBAR
It appeared to jump 98 points in literally seconds. Something not right...
No Rule 48 this morning, so lots of stocks didn't open right @ 9:30:00. When they finally did open, they opened *up*...hence, the no volume no volatility open, followed by the sudden jump.
Blythe made a billion last night.
White collar crime should be congratulated, eh Robot? We all should aspire to be Satan dressed like an airline stewardess.
http://blythemasters.blogspot.com
Yeah, weird jump in the Dow.
Cashin is usually light on detail, heavy on hyperbole. I tend to ignore him.
Those 900,000 SPX October Put Options Contracts must be fraying some nerves.
Bullish for booze and valium!
Market looks very weak.
Calling S&P 500 down 10-15 points today.
Dow seems to be in another world at the moment but it´ll drop 100-150.
Nazdog maybe 40.
the DOW chart is giving me the finger....not sure if it's the index or middle one...guess i'll find out as we progress
Paper price of PMs falling and giroating around, yet premiums for physical remain higher or climbing higher? wtf?
It's called decoupling. And it has to happen before the end game. Keep an eye on delivery times for physical as well.
Good luck trading anything today, total crapshoot. The Nasdaq is negative while the Dow average i up 100. Priceline and Lulu are down, autopart stocks are up, Amazon was down and now up, and Apple is down which normaly would mean the total market would be down.
Rumors of rumors meet the ghost of rumors past. As long as there are rumors that the banks are flush with cash the collapse will be put off.
Strangely, Boston traffic was light today too...but then we all are in a football incredulous stupor still drooling in front of the tube...
Hmm a Concern troll appears on every thread now. Ben? JPM? Timmah? Blythe?
There's no way to avoid an acute silver shortage at the bankstering wholesale fiat paper prices. Shouldn't be nothing left for the rank'n file 1 billion above ground silver with in weeks. You have 271 billion of outflows from money markets & FRN's get traded in real fast for something of substance.
Phoned in an order for PMs Friday afternoon to my bullion/coin dealer. Normally send payment overnight delivery service. He said, "don't bother. Save the money and send it normal mail, since it won't be processed until the middle of October because of the backlog of orders!" Buyers greatly outnumber sellers. Gotta buy more today.
patience
Interesting Gold forecast with a bearish bias for the next sevaral months. http://bit.ly/nUOaNq
double post - sorry
I like Art Cashin., but following his Thursday-Monday prediction, he predicted a massive rally. http://www.cnbc.com/id/44639891
The S&P (ES) is setting up for another drop soon to below 1100. http://bit.ly/pqc7LL
Right now when you go short your'e shorting Obamas' second term. He still has all the tools at his behest, the greatest military in the world, the Presidents Group on Manipulating the Markets, all sorts of legal shennigans, such as moving wars or spending off balance sheet, 14th amendment. The more powerful and decisive Obama acts the more the American people will love him. In the end all politicians are pimps, "whip me, beat me, make me write bad checks.."
the question for traders, am I about to get pimped..
When the cost of commission fees is negligible, or zero, it's not hard to bid up the market on low volume & minimum lots while you simultaneously short & cover at each technical resistance level.
It's like the magic trick of the knots in the rope that vanish when you snap the rope tight.
This way, you take out all the weak shorts on the run up, lure in the dumb money and then pull the rope tight for the fall.
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