• Sprott Money
    04/29/2016 - 05:58
    There is unfortunately no basis for renewed optimism that this current litigation will have any meaningful impact on precious metals manipulation – with respect to either silver or gold.

Is This Why We Are Rallying Today?

Tyler Durden's picture




 

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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Mon, 05/21/2012 - 11:56 | 2447819 FlyoverCountryS...
FlyoverCountrySchmuck's picture

TWIST, baby, twist!

the GLORY OF OBAMA must not be endangered by bad Wall Street news, at least until after election day!

Mon, 05/21/2012 - 11:58 | 2447841 gmrpeabody
gmrpeabody's picture

I think we can expect scenario #2.

Mon, 05/21/2012 - 12:01 | 2447849 francis_sawyer
francis_sawyer's picture

Quit bitching...

Every day that presents me another opportunity to STACK MORE is a good day in my estimation...

Mon, 05/21/2012 - 12:14 | 2447902 malikai
malikai's picture

DOW 3,6000,000,000,000!

Mon, 05/21/2012 - 12:02 | 2447851 Stoploss
Stoploss's picture

Two bill auctions today. Auctions every day this week except Friday.

So, buy the open sell the close again??

Mon, 05/21/2012 - 12:10 | 2447884 HarryM
HarryM's picture

I called it Friday - G8 + Obama = Monday Rally

They would have looked like total Bafoons otherwise.

Mon, 05/21/2012 - 12:36 | 2447966 Manthong
Manthong's picture

Did you forget the FB divisor in that equation? 

Mon, 05/21/2012 - 11:56 | 2447822 vmromk
vmromk's picture

I wish Bernanake would just go FUCK himself already.

Mon, 05/21/2012 - 12:00 | 2447846 DogSlime
DogSlime's picture

He doesn't have time - too busy fucking almost everyone on the planet (99%) whilst simultaneously felating the elite (1%).

Mon, 05/21/2012 - 12:02 | 2447852 junkyardjack
junkyardjack's picture

He did, now his Ctrl + P keys are all sticky...

Mon, 05/21/2012 - 12:03 | 2447857 fightthepower
fightthepower's picture

Fuck you Bernanke!

Mon, 05/21/2012 - 13:53 | 2448199 mt paul
mt paul's picture

go facebook himself...

Mon, 05/21/2012 - 11:56 | 2447823 jus_lite_reading
jus_lite_reading's picture

QE4 rumors swirling around... The last two weeks showed major economic global contractions and this is bullish for the ponzi stock markets 

Mon, 05/21/2012 - 11:56 | 2447827 TrainWreck1
TrainWreck1's picture

Global Easing smacks of gently dilating ones posterior.

to wit, BOHICA

Mon, 05/21/2012 - 11:57 | 2447828 Chappy
Chappy's picture

So we should expect the market to go up or down from here.  Got it!

Mon, 05/21/2012 - 11:58 | 2447840 beaker
beaker's picture

Yes.  It will fluctuate, even.

Mon, 05/21/2012 - 12:00 | 2447848 junkyardjack
junkyardjack's picture

It may move in a sideways range or it won't

Mon, 05/21/2012 - 12:03 | 2447856 francis_sawyer
francis_sawyer's picture

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"

Mon, 05/21/2012 - 12:09 | 2447880 Dixie Rect
Dixie Rect's picture

Love the wisdom of CNBS

Mon, 05/21/2012 - 12:09 | 2447882 willien1derland
willien1derland's picture

I will attribute this quote to the infamous Bob Pisani

Mon, 05/21/2012 - 12:54 | 2448010 derek_vineyard
derek_vineyard's picture

pisani's opinion is that of the whoevers xxxx is in his mouth

Mon, 05/21/2012 - 12:14 | 2447901 DeadFred
DeadFred's picture

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.

Mon, 05/21/2012 - 12:55 | 2448013 clones2
clones2's picture

Been looking at the same thing... Looks like an early week bounce perhaps towards the 9 or 10 dma before a holiday weekend. gl

Mon, 05/21/2012 - 13:52 | 2448197 kianator
kianator's picture

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.  

Mon, 05/21/2012 - 11:57 | 2447831 The trend is yo...
The trend is your friend's picture

I can't make heads or tails of it.  It's harder for the shorts.  Ignorance is bliss (longs)

Mon, 05/21/2012 - 11:57 | 2447836 Cheeky Bitch
Cheeky Bitch's picture

Occam's Razor...

Mon, 05/21/2012 - 11:58 | 2447838 Christoph830
Christoph830's picture

Beat me to it!

Mon, 05/21/2012 - 11:58 | 2447843 bigwavedave
bigwavedave's picture

no. we go up because we cant go down everyday

Mon, 05/21/2012 - 12:30 | 2447948 EscapeKey
EscapeKey's picture

...and the US Dollar. Is that "overbought"?

Mon, 05/21/2012 - 12:56 | 2448016 BeetleBailey
BeetleBailey's picture

No

it's undersold. Actually it's over-printed. But then, it's over-used. Then again, it's over-valued.

Mon, 05/21/2012 - 11:59 | 2447845 q99x2
q99x2's picture

Uh

Mon, 05/21/2012 - 11:59 | 2447847 SmoothCoolSmoke
SmoothCoolSmoke's picture

If this push fails..... I expect panic to set in.  Sugar Longs will know they are on their own.

Mon, 05/21/2012 - 12:01 | 2447850 nobusiness
nobusiness's picture

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.

Mon, 05/21/2012 - 12:02 | 2447854 insanelysane
insanelysane's picture

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.

Mon, 05/21/2012 - 12:05 | 2447864 francis_sawyer
francis_sawyer's picture

Obama is incapable of even manipulating a penis in his mouth...

Mon, 05/21/2012 - 12:07 | 2447871 navy62802
navy62802's picture

Blankfein and Dimon beg to differ.

Mon, 05/21/2012 - 14:21 | 2448297 malikai
malikai's picture

That's in his ass.

Mon, 05/21/2012 - 12:03 | 2447858 sunaJ
sunaJ's picture

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.

Mon, 05/21/2012 - 12:04 | 2447862 ghostzapper
ghostzapper's picture

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. 

Mon, 05/21/2012 - 12:05 | 2447863 Cognitive Dissonance
Cognitive Dissonance's picture

I'll put 10 large on number 2.

Come on baby, momma needs a new pair of shoes.

Mon, 05/21/2012 - 12:58 | 2448028 Temporalist
Temporalist's picture

Try duct tape it makes old pairs of shoes like new again.  The "new normal."

Mon, 05/21/2012 - 14:20 | 2448294 malikai
malikai's picture

Duct tape is too expensive. Try newspaper instead.

Mon, 05/21/2012 - 12:07 | 2447869 AC_Doctor
AC_Doctor's picture

Binky Ben is definately in the top 1% of hangworthy individuals destroying the US of A...

Mon, 05/21/2012 - 12:07 | 2447870 Rock the Casbah
Rock the Casbah's picture

Shouldn't Au be rallying also?

Mon, 05/21/2012 - 12:07 | 2447872 ghostzapper
ghostzapper's picture

And I believe everything ZH says about gold from a fundamental standpoint.  But, that pig looks like it has a date with 1,200ish.

Mon, 05/21/2012 - 12:17 | 2447905 ziggy59
ziggy59's picture

Chuck Berry should get royalties on the Benny Twist

Mon, 05/21/2012 - 12:46 | 2447981 LouisDega
LouisDega's picture

So should Boris Pickett and the song Monster mash. Whatever happened to the Transylvania twist is a copyrighted item

Mon, 05/21/2012 - 12:17 | 2447910 Charlie
Charlie's picture

I was just thinking of loading up on shares of mining companies.

Mon, 05/21/2012 - 12:19 | 2447916 orangegeek
orangegeek's picture

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/

Mon, 05/21/2012 - 12:50 | 2447999 IMACOINNUT
IMACOINNUT's picture

Warning  --- the link below by SDR11 " boingboing" caused my computer to freeze up.

Do NOT follow this link or you will be banned from the site!