This Is What Is Happening in Washington Today

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Wed, 10/12/2011 - 09:09 | 1765120 jdelano
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talk me off the fucking ledge.  

Wed, 10/12/2011 - 09:14 | 1765135 GolfHatesMe
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I'm seriously considering the George Costanza strategy to do everything that is the exact opposite of what I feel is right.  All except my Netflix short.

Wed, 10/12/2011 - 09:26 | 1765175 qussl3
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FOMC better be pretty explicit about QE3 later or things will get interesting.

We are here on a short squeeze and the vague commitment of Germany and France standing behind all EZ banks.

Funny thing is if either try that crap, bye bye AAA.

If they pull the AIG stunt off tho, 2008 redux may take till late 2012 when the EZ econ tanks due to austerity.


Wed, 10/12/2011 - 09:33 | 1765226 jdelano
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in addition to bye bye AAA, they will need to print.  Euro down, dollar up.  Equities--->toilet.  This rally dies at 1220.  Alcoa misses by 30%, the U.S. initiates a trade war, harrisburg kicks off the chain of muni defaults, unemployment ticks up to 9.3 this week (mathmatically it absolultely has to)  Everything is bullish...until it's not.   

Wed, 10/12/2011 - 09:36 | 1765241 qussl3
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I'd better careful about EUR QE = EUR/USD down, when the ECB prints, USD is the default carry if rates hold.

The liquidity keeps the music playing and as long as its on, the carry drops, and thats the USD and Yen.

Wed, 10/12/2011 - 10:40 | 1765640 RickyBobby
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I'm with you on the 1220. It's buy the European rumor de jour and sell the news these days but technicals matter. Seems to look like a perfectly flat trading range between 1220 and 1100 and they wanna retest again. My guess is that we trade intra-day above 1220 but we dont close above there like we have twice prior.

If it closes significantly above 1220 its possible we see a breakout to the upside but I am confident we dont see 1350 again before Bernake announces QE4eva. You can't fight the algos. Im not a trader, although I do count myself a psychopath. 

Wed, 10/12/2011 - 10:55 | 1765707 covert
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the shortsighted sutpid politicians are selling us out again.


Wed, 10/12/2011 - 09:10 | 1765122 Zgangsta
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Everything is bullish for stocks, so long as we write the headlines for the algos in a positive manner.

Wed, 10/12/2011 - 09:13 | 1765130 Racer
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just need headlines, that's all....

Wed, 10/12/2011 - 09:12 | 1765127 sabra1
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1:01 pm--entry and exit wounds!

Wed, 10/12/2011 - 09:17 | 1765143 kito
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headline should read "this is what is NOT happening in washington today"

Wed, 10/12/2011 - 09:17 | 1765144 gjp
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What sickens me the most is that this rally is being led by the momo names yet again, even after it seemed like a real breakdown only a week ago.  How many 8%+ 5-day trading sessions can you have in a year, and why are we still being led by 100 PE stocks like AMZN and CRM?  It's all just a game ... if only the stakes weren't so high.

Wed, 10/12/2011 - 09:18 | 1765147 GeneMarchbanks
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'10:00 am -- Derivatives regulation'

Now that is funny.

Wed, 10/12/2011 - 09:19 | 1765151 monopoly
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It is all surreal. But shorting this market is suicide unless you are a day trader and not wiped out.

Wed, 10/12/2011 - 09:21 | 1765156 youngman
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and the hair salon will be packed as many "moments in front of the Camera" will be had by the chosen..

Wed, 10/12/2011 - 09:22 | 1765163 Jim in MN
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Don't forget, the Joint Select Committee on Deficit Reduction will continue to hold secret meetings, fail to release any information to the public, and adjourn for whiskey, hookers, and full information dumps to Wall Street and other corporate lobbyists at 3:30 sharp. 

For their terribly informative website, see


Wed, 10/12/2011 - 09:24 | 1765165 dynamictrader
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For some of us, wanted a bounce higher, now that is here, we fear it. Be careful

of what you wish for. :) Euro has started its move lower.


Wed, 10/12/2011 - 09:26 | 1765173 The Count
The Count's picture

Prepping for the next war


My feeling is that Washington and Europe know that the financial collapse is very likely and what better way to divert attention from the incompetence of politicians than to have everybody focus on a common perceived enemy.

Presto: A plot that kinda calls for military retribution, not sooo bad that immediate action is warranted, but bad enough that the seriousness can be scaled up or down as needed.

This tactic is the oldest one in the book. It was one of Hitler's favorites. Create a problem and then appear as trouble shooter.


Wed, 10/12/2011 - 09:30 | 1765203 Johnny Lawrence
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I love how China's labeled the manipulator, but Bernanke can print $600 billion in new USD.

Wed, 10/12/2011 - 10:21 | 1765542 Sandy15
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and continuing to print more and more.........  , that's why the market is going up on NO volume.....  goes up overnight for no reason.......  The Bernack is back to hiding his QE like he did in March 09.

Wed, 10/12/2011 - 09:30 | 1765206 The Deleuzian
The Deleuzian's picture

It's perplexing that something as serious as a trade war stirs in the wind...Originally thought just chest-thumping but these f$#kers look serious...Well back to LULU and PCLN!!!

Wed, 10/12/2011 - 09:41 | 1765263 madbomber
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Wed, 10/12/2011 - 09:53 | 1765346 adr
adr's picture

Simple question. 

If revenue at company A is estimated at 25% growth next year and total revenue was around $150 million, how does that justify a rise in the stock from $20 to $110 and an increase in market cap from a few hundred million to a few billion?

The defecating asses on TV claim that the 100 P/E is justified because of future revenue growth  but at the current rate of growth it would take a few years to double revenue let alone increase revenue to a level that justifies the rise in the stock. In some cases 20 years of growth has been priced in a stock in less than a year. Somehow that is not insane. Somehow the same stock can keep going up even if the growth doesn't come in as good becuase other stocks had good growth. 

The market goes against all logic. If a trade looks illogical then go for it. Fuck if you invested in Sodastream after its plunge you are up around 20% right now. I can't tell you why because there is no logic behind the move. Having retailers cut your price and clearance out your product is somehow bullish on future growth.

Wed, 10/12/2011 - 10:00 | 1765392 madbomber
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Wed, 10/12/2011 - 10:30 | 1765590 eddiebe
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That's right! Q.E. to infinity or die.  Believe it!

Wed, 10/12/2011 - 12:05 | 1766055 slewie the pi-rat
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it's senior day @ discount grocery?

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