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What Do Those Super Smart Stocks Know Again?
It's one of those days again. Stocks have decoupled in their inimitable way as hope springs eternal of LTRO3, EFSF, or a friendly-Fed...
and across broader risk-assets - stocks are diverging higher again...
even as Europe's credit markets appear to be positioning for more encumbrance and LTRO3...
Chart: Bloomberg and Capital Context
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all i know is that this whipsawing is interesting to watch..
ES is that annoying kid from high school who thought he was cool enough to sit at the cool kid table during lunch where he was really the butt of every joke.
You mean "Death and Gravity"? He hasn't been spewing his "coolness" since the 9/11 discussion.
You take that back... ES = "Awesome"
Mark Hulbert says:
June 5, 2012, 12:02 a.m. EDT
Correction close to being over
Commentary: Pessimism at levels not seen in nearly two years
http://www.marketwatch.com/story/correction-close-to-being-over-2012-06-05
Personally I would not put much stock in an indicator which is named after the same person who is touting the results. Looking at Investors Intelligence Advisor Sentiment and Rydex Asset Ratios we are not even close to where we were last October in terms of sentiment or positioning. Of course the market is oversold and can bounce upon announcement of another rumor of a global bailout with more funny money.
Delusion index - decoupling from reality; years from earth and S&P 666 or DOW 6,666 true value levels. The daily rumor bumps trips to clouds, the past three years a trip to the stars.
If the future looks less horrible than previously anticipated, it is bullish.
If there is no rumors of steps being taken to prevent a calamity, it is bearish.
Any good news at all causes a massive rally.
Welcome to the new normal.
Yes, it's all priced in except true cost and return.
I'd like to see every corporate and stock valuation have our $16 Trillion in debt and $65 Trillion in unfunded liabilities factored into them to get a true valuation. Zero to a $1 I'd bet, if that.
it's 270 trillion in unfunded liabilities from teh Federal level. California alone has 45 trillion in unfunded liabilities from municipal to state level.
The US doesn't make anything but IOU's.
It's all nuts.
Honestly, I am not surprised. I can only imagine the amount of money that has been passed out in cronzy loans in the last month to save JPM alone.
An endless roller coaster at Sux Flags (the spelling of Sux was intentional)
oooo...look at the big shiny things! oooo...me buy! me buy!
That would be shiny "thingamajigs.'
Bring on that liquidity!
http://media.photobucket.com/image/i%20r%20smrt/thegreatonex22/SMRT.jpg
Just one guy's opinion: I look for the PTB to take world markets down right into the election in November to assure (thankfully) Obama's defeat. November 1st, I'm all-in on ANR. Nat King Coal Baby!
if they are not bust by then ?
Of course Obama will be defeated because the Goldman Sachs says so.
Didn't Zero Hedge already report Mitt Romney's top 5 contributors are Wall Street Banks?
Nuff said. Bought and paid for, just like they did with Obama.
Eventually the politico's will want their contribution in gold and silver
or worse....
"I'll have my bond"!
"My turd is YOUR bond". ......The Bernanke
Flight to quality?
Talking heads have pumped them up as downturn proof. Now with FED and Europe fleeing cash the HFt's are buying....
With the hope of selling out soon before the crash.
"According to Estulin’s sources, which have been proven highly accurate in the past, Bilderberg is divided on whether to put into motion, “Either a prolonged, agonizing depression that dooms the world to decades of stagnation, decline and poverty… or an intense-but-shorter depression that paves the way for a new sustainable economic world order, with less sovereignty but more efficiency.”
This from the Daily Reckoning this morning - things that make you go HMMMMM.
Call in the air strike on their next meeting.
Germany should take a 1000x leveraged long position on the NOLTRO index and then come out with 2 LTROs. Everybody wins.
hmm ... what if they already did ...
While gold trades rangebound and silver constantly bumping in to what seems to be resitance at $28.50... Wish I never bought crappy stocks.
silver breakout in less than 24 hours i got my money on it
nah, you are too early ... it will take a couple of weeks ... still too many paper shorts ...
Wish I never bought smart, sexy stocks. Fixed it for ya.
Indoctrination is Education, Gold is Relic, Debt is Wealth, War is Peace, and America is the World. Infinite QE to the bitter end.
I thought we established that algos know nothing but technical analysis.
I'm convinced when all the various Tylers' Durden are on death's door their last words will be "I knew this day would come. I KNEW it!"
disabledvet
So, you believe the financial markets are NOT supported by Central Bankers ?
And what follows, is that the real economy, net of Government and Central Bankers, is growing like gangbusters.
Fuck, who can argue with such succinct reasoning.
Somebody is sure hijacking the hell out of the IYR today. Just literally non-stop bidding up all day long. Once again, gleefully ramrodded about the magic $60 mark.
Amazing. Criminal, sure. But, amazing.
yesterday's comment-bonds over bought stocks oversold-odds favor a reversal.
Well, for Pete's sake, the bullish sell-siders have burst forth, uninvited and en masse, from underneath slimy rocks and put on every radio and TV show proclaiming "NOW IS THE BUYING OPPORTUNITY OF THE CENTURY" and "YOU CAN'T SELL NOW!". Little wonder the market is up in anticipation of the success of this shock 'n awe display of sell-side histrionics and the skill of these shameless shills - hailed as "optimists", as if realism in the face of some cold, hard and disturbing facts is some sort of vile contagion - in getting the sensible if not justifiably petrified retail trade to suddenly turn their backs on sub 1% returns and jump into stocks.
Wait. You mean no one's buying? Back to you, Ned.
How about an update on the Shorts chart that usually rolls through, are we poised for a squeeze with record shorts again?