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Is This Why We Are Rallying Today?
As we noted last week, the level that would represent the same size drop as triggered globally coordinated central bank easing in November of last year, is around 1285 and sure enough we got close (1287) in futures before today's rally began...is it really this easy?
or is this what we should expect?
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TWIST, baby, twist!
the GLORY OF OBAMA must not be endangered by bad Wall Street news, at least until after election day!
I think we can expect scenario #2.
Quit bitching...
Every day that presents me another opportunity to STACK MORE is a good day in my estimation...
DOW 3,6000,000,000,000!
Two bill auctions today. Auctions every day this week except Friday.
So, buy the open sell the close again??
I called it Friday - G8 + Obama = Monday Rally
They would have looked like total Bafoons otherwise.
Did you forget the FB divisor in that equation?
I wish Bernanake would just go FUCK himself already.
He doesn't have time - too busy fucking almost everyone on the planet (99%) whilst simultaneously felating the elite (1%).
He did, now his Ctrl + P keys are all sticky...
Fuck you Bernanke!
go facebook himself...
QE4 rumors swirling around... The last two weeks showed major economic global contractions and this is bullish for the ponzi stock markets
Global Easing smacks of gently dilating ones posterior.
to wit, BOHICA
So we should expect the market to go up or down from here. Got it!
Yes. It will fluctuate, even.
It may move in a sideways range or it won't
Heard on CNBC...
~~~
"I'd say there is about a 50-50 chance that the markets will be up or down in the next 6 months"
Love the wisdom of CNBS
I will attribute this quote to the infamous Bob Pisani
pisani's opinion is that of the whoevers xxxx is in his mouth
1285 or so is the 200 dma, the 38% fib level of the ramp from last years lows and level of the first rebound in August. It will take a good effort to go below it but there is no lack of bad news to power things lower. I'm guessing it won't happen on the first try, but what do I know.
Been looking at the same thing... Looks like an early week bounce perhaps towards the 9 or 10 dma before a holiday weekend. gl
Technicals are on the "floor" -- Least path of resistance is upwards until overhead resitance is meet. Volume will likely be on the low side. Who wants to sell or short when technicals are this oversold.
I can't make heads or tails of it. It's harder for the shorts. Ignorance is bliss (longs)
Occam's Razor...
Beat me to it!
no. we go up because we cant go down everyday
...and the US Dollar. Is that "overbought"?
No
it's undersold. Actually it's over-printed. But then, it's over-used. Then again, it's over-valued.
Uh
If this push fails..... I expect panic to set in. Sugar Longs will know they are on their own.
Anyday an article will come out of the Wall Street Journal stating the Fed is open to more easing probably to come out of the June Meeting. The Central planners will not allow this to continue as they view it as only costing more if they wait. Doing the right thing and letting the free market work is not even a thought of theirs.
At this point I don't think the Obama team is manipulating the data to get re-elected. The bankstas are doing everything they can, to get him re-electedn because if the other side gets in there is chance that Ctrl-P becomes Ctrl-A. Personally I believe the chance of the other side doing meaningful Ctrl-A is close to 0 but the banksters only like to take chances if someone else's money is on the line.
Obama is incapable of even manipulating a penis in his mouth...
Blankfein and Dimon beg to differ.
That's in his ass.
Yes, we can make as many S&P or Dow points as we like, I imagine. It is a sham, but it is one that we are conditioned to fall for. Markets are up, everything must be okay. The rest of the world's economies will disagree as they have to contend with the consequences of easing. One of these times, you will see a market-breaking action by one or more non-OECD central banks.
I continue to believe the market is still injected with an extremely high dose of QE hopium. Spider around 1,000ish tells me people are not expecting QE. Until then it's just a junkie crawling along the side of the road begging the dealer for more heroin.
I'll put 10 large on number 2.
Come on baby, momma needs a new pair of shoes.
Try duct tape it makes old pairs of shoes like new again. The "new normal."
Duct tape is too expensive. Try newspaper instead.
Binky Ben is definately in the top 1% of hangworthy individuals destroying the US of A...
Shouldn't Au be rallying also?
And I believe everything ZH says about gold from a fundamental standpoint. But, that pig looks like it has a date with 1,200ish.
Chuck Berry should get royalties on the Benny Twist
So should Boris Pickett and the song Monster mash. Whatever happened to the Transylvania twist is a copyrighted item
I was just thinking of loading up on shares of mining companies.
How many more iterations of "let's pump the markets" can be played?
So much has to go right including a falling USD (means Euro must rise) for this to happen.
Elliott wave count says bearish SP500 http://bullandbearmash.com/index/sp-500/hourly/
Warning --- the link below by SDR11 " boingboing" caused my computer to freeze up.
Meanwhile in Japan: Water supply in prefectures neighboring Tokyo found contaminated
http://news.xinhuanet.com/english/world/2012-05/19/c_131598630.htm
Pakistan to test nuke capable missle while Obama snubs Zadari
http://timesofindia.indiatimes.com/world/us/US-Pakistan-rift-hits-NATO-s...
http://www.rt.com/news/pakistan-nuclear-missile-test-677/
And US lifting propoganda restrictions?
Buzzfeed's Michael Hastings reports on a revision to the Smith-Mundt Act of 1948 and Foreign Relations Authorization Act in 1987, which prohibit the use of government disinformation and propaganda campaigns within the USA. The amendment, sponsored by Rep. Mac Thornberry from Texas and Rep. Adam Smith from Washington State, would allow the US government to knowingly tell lies to its people in order to promote the government's own policies.
http://boingboing.net/2012/05/21/proposed-us-law-makes-domestic.html
Great Post - Propoganda Amendment is in HR 4310 URL below - Amendment # 85 - this should be consider treason -
http://rules.house.gov/Legislation/legislationDetails.aspx?NewsID=828
Why would the Fed stop now - with a balance sheet stuffed with all sorts of ill gotten 'investments' it makes absolutely NO rational sense...If you play the game & consider the ratonal move Bernacke may allow some deterioration but the rational play is to double down...and he will along with the other Central Banks - I am calling a similar move to last November when a concerted set of the usual suspects - Bank of Canada, ECB, Japan, Switzerland, UK, & US make a move to prime the world banking pumps once again...The Germans can pitch a fit as much as they like but the Keysian tidal wave that stands before them will dwarf their resources - Deal with it Ms. Merkel INFLATION is on its way - da bankers will push the envelope again & our politicians will allow it - God save us from the aftermath, but the trend is enforce & the alternative of not adding liquidity is far worse because there is no plan in place to promote honesty & integirty - Vive CTRL+P!
Just get the feeling it is going to be a ram the Shorts for the next few days. Right now I am out just watching.
Was anyone, besides naked shorters, able to short Facebook today? JPM could have made up that entire $2 billion loss from a few weeks ago!!!
Agreed. Balance upside / downside risk at best. I closed out last week after shorting at 1402. It would be cool if a lot of "great" news came out and we got a deep retracement. These days I'll only consider a short after all the good news is baked in.
Most of the market moves are now due to flash trading, the small investors have for the most part grabbed their shorts and ran it is hard to out race a computer program.
the end results of all of this will be very interesting to watch, meanwhile CYA is the best move.
My take on this is that the dollar reversal was planned to do the following:
1) Put pressure on commodities so as to keep a lid on inflation. The bonus is any in the know insiders and commodity shorts make a killing. The bonus is that drops in gold/silver might be enough to scare holders into selling (particularly if they have mounting losses or dwindling profits).
2) Try to fein a drop people have been looking for so the 'well trained buy the dippers' will come in to buy long (since many missed the ride up). All this to suck any money looking to go long back into the market.
3) Set up anyone looking to short the Euro (or anyone long the dollar - aka all cash hoarders) for the coming dollar drop.
4) Confirm the sell in May and go away so they can set up the massive summer and fall coordinated world QE rally to go with the dollar drop, bonus here is all people still hoarding cash, and bondholders get screwed. Any new longs get rewarded yet again and can continue to live in ignorant bliss. By then they will have most commodity markets in vice grips to keep inflation 'targetted' so people don't see gold/silver/oil/gas as a rewarding way to play inflation.
To all stackers we may get the mother of all opportunities here in the next 3 months, be ready! And if anyone sees any companies that might survive this turmoil during the same time frame one may get an opportunity to add to positions, or create new ones.
All hail the Ponz!
OldE
Sucker rally. The world makets are broken. Trade cautiously with conservative stops.
If the market is rallying on rumors of QEx then why are your precious precious metals still falling? Riddle me that silver bears?
Biggest gains on market caps above $1 Billion are all resource companies (gold and silver) per google finance. Weird, no? Resource companies up 7% to 11%...silver down 1.3% after one large AM trade, then flat. Gold flat. Doesn't look very bearish to me.
Bears or Bulls? Hmmmm?
Yes, oversold bounce, could last for a few days, good news might move it higher. But at some point soon, what a short this market will be.
So far we are having trouble leaping over 1,600 in gold. Patience.
This does smell like a bear market, especially when you look at aggregate FY 2013 earnings estimates. That said, I'm going to exercise a huge amount of patience. Don't chase it down.
SPX 1180 in two weeks... then a bounce into the election.
Only a slight bounce (rally will not breach the previous top @ 1422)... they wouldn't want to look like they are manipulating things.
IMHO
I wouldn't be that bearish, lest you get bruised by the bulls. I'll bet it's 1250-1270 before it's 1180.
(1350-1370)
Hey?! Pull my finger!
ACTUALLY IT JUST BOUNCED OFF THE 300 DMA BUT CANT SEEM TO GET PAST 150DMA SO NEXT STOP IS 128 ON SPY
Frankly, my dear, I don't give a rat's ass why it is rallying. But if one of your fearless writers could tell me how high and how long... now that would be of some use.
http://flic.kr/p/bnbsG5
ivars & goldpricemodel combined chart showing current drop in Dow (generated quite some time ago, too)
Fuck You Bernanke!
Marc Faber says market is bottoming and S&P 500 will go back to 1370-1400 but not new highs. Says to sell into that rally.
Gold has or is bottoming here (and he's been saying that gold continued to be in a correction phase for many months now, so this is meaningful call for him). Of course, he always likes gold for the
long haul.
Faber is probably right 80% of the time. (and I am a long time subscriber to his letter - as in more than 10 years).
That would be an excellent retracement. Hope it makes it that far.
My view,
http://agstock.blogspot.com.es/2012/05/two-small-flashes-of-light-for-ho...