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"Yes, VIRGINIA, There Is A Santa Claus"
With many thanks to Art Cashin, whose note this morning reminds us of today's bipolar shift in the market attitude. Of course, if said "Yes, Virginia" letter was written today, it would come from a desperate hedge fund manager seeing fax after fax of inbound redemption notices, and the New York Sun's response would even be able to give the name of the appropriate individuals in the Santa Claus Central Planning administration.
From UBS' Art Cashin:
A Needed Seasonal Note - As we all hopefully recall, young Virginia O’Hanlon wrote to the New York Sun in 1897 to inquire if there really was a Santa Claus. Herewith - the letter and response.
DEAR EDITOR: I am 8 years old. Some of my little friends say there is no Santa Claus. Papa says, 'If you see it in THE SUN it's so.' Please tell me the truth; is there a Santa Claus?
VIRGINIA O'HANLON.
115 WEST NINETY-FIFTH STREET
VIRGINIA, your little friends are wrong. They have been affected by the skepticism of a skeptical age. They do not believe except [what] they see. They think that nothing can be which is not comprehensible by their little minds. All minds, Virginia, whether they be men's or children's, are little. In this great universe of ours man is a mere insect, an ant, in his intellect, as compared with the boundless world about him, as measured by the intelligence capable of grasping the whole of truth and knowledge.
Yes, VIRGINIA, there is a Santa Claus. He exists as certainly as love and generosity and devotion exist, and you know that they abound and give to your life its highest beauty and joy. Alas! how dreary would be the world if there were no Santa Claus. It would be as dreary as if there were no VIRGINIAS. There would be no childlike faith then, no poetry, no romance to make tolerable this existence. We should have no enjoyment, except in sense and sight. The eternal light with which childhood fills the world would be extinguished.
Not believe in Santa Claus! You might as well not believe in fairies! You might get your papa to hire men to watch in all the chimneys on Christmas Eve to catch Santa Claus, but even if they did not see Santa Claus coming down, what would that prove? Nobody sees Santa Claus, but that is no sign that there is no Santa Claus. The most real things in the world are those that neither children nor men can see. Did you ever see fairies dancing on the lawn? Of course not, but that's no proof that they are not there. Nobody can conceive or imagine all the wonders there are unseen and unseeable in the world.
You may tear apart the baby's rattle and see what makes the noise inside, but there is a veil covering the unseen world which not the strongest man, nor even the united strength of all the strongest men that ever lived, could tear apart. Only faith, fancy, poetry, love, romance, can push aside that curtain and view and picture the supernal beauty and glory beyond. Is it all real? Ah, VIRGINIA, in all this world there is nothing else real and abiding.
No Santa Claus! Thank God! he lives, and he lives forever. A thousand years from now, Virginia, nay, ten times ten thousand years from now, he will continue to make glad the heart of childhood.
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If I want to see fairies dancing on a lawn, I'll go to New Hope.
For some strange reason they never make it to Upper Black Eddy or Nockamixon
"Yes, VIRGINIA, there is a Santa Claus."
Now STFU and take this blue pill.
Unfortunately, the world needs it's one token day of giving with its frantic, impatient lead-up. Too bad we don't try to take the idea of charity and self-sacrifice into our hearts more than once a year. Maybe we could lose the fat, red pagan symbol of veiled materialism and entitlement. Not to mention the world might actually be a better place...
"Bah. Humbug !"
http://www.sheeplaughs.com/scrooge/scroogescared.jpg
Nobody screws with Santa
Always wait for the fat lady to finish singing before you do a victory lap - Word of advice from a NY Ranger fan
I believe in candy crapping unicorns too.
In this great universe of ours man is a mere insect, an ant, in his intellect, as compared with the boundless world about him, as measured by the intelligence capable of grasping the whole of truth and knowledge.
Even more true today with all the discoveries we make. The more we learn, the more we learn how little we know.
Isaiah 40: 10-26
Sola Scriptura
Tell me, what 8 year old today could possibly understand that response? Actually, I'd bet few teenagers could comprehend it in today's watered down educational world.
Teenagers?! You're much too kind. Hell, probably 35% of the adult population wouldn't have a clue!
[...] understand that response?
I'm sure most can't/won't properly write down the letter and address the envelope. They would never have a chance too read that response ...
Isn't there a QR code to get free stuff from Santa?
Oh, wait. It links to the White House.
I still believe in the Hogfather for Hogswatch day. There will be pork products under the tree this year just like always. Twas ever thus.
Death: Humans need fantasy to *be* human. To be the place where the falling angel meets the rising ape.
Susan: With tooth fairies? Hogfathers?
Death: Yes. As practice, you have to start out learning to believe the little lies.
Susan: So we can believe the big ones?
Death: Yes. Justice, mercy, duty. That sort of thing.
Terry Pratchett Hogfather
DO I DETECT A NOTE OF UNSEASONAL GRUMPINESS? said Death.
NO SUGAR PIGGYWIGGY FOR YOU, ALBERT!
I worship Crom.
Hahahahahahahahahahaha!!!!!!!! That's kick ass!
Dear Mr Draghi : I am 8 years old. Some of my little friends say there is no money for the Euro bailout. Papa says, 'If you see it in a Summit announcement it's so.' Please tell me the truth; is there money for the Euro bailout ?
Dear gojam,
That's what computers, printing presses, rehypothecation, swaps and derivatives are for.
M Draghi
Santa Klaus Regling may have a small sack, but within it are presents for everyone*
*re-hypothecated
You can't prove he doesn't exist!
....where have I heard this same argument before?
Santa rally? If it lasts all day I'll be surprised. Just a great opportunity to load up on puts.
'Santa Claus Rally' means markets back to where they were a few days ago? Good place for funds to commence redemptions, thats about it.
Good point. Bummer that CRM isn't spiking, I was hoping it would go back to around 110 and I would buy puts, but doesn't look like it's going to make it. I knew I should have bought some when they bounced back over 115. Kicking myself now.
Sandy Claws. That's what my old girl friends hands were like. I have permanent scratches to prove it.
Wise words indeed.
Not Art. The 8 year-old.
You missed the twist at the end. Art is the 8 year old. Complex stuff.
The moral of the story: Only a man-child can believe in a free market.
Dear US Dollar.
Thank you for letting yourself be abused, all for the sake of the rally that bears my name.
Love,
Santa Claus
http://data.cnbc.com/quotes/.DXY/tab/2
SPX up 25 handles!!!
It's a centrally planned FESTIVUS MIRACLE!!! Bring out the aluminum pole!
What a f'ing pitiful joke this has become.
Yesterday Charles Hugh Smith told us in a ZH post that his charts "blow the doors off" any chance of a Santa Claus rally.
Looks like that big door just slammed shut on his dick!
You're mistaking the "Santa Claus" rally with the "Groundhog Day" rally...
I guess he underestimated the willingness of the Fed to violate every legal right of the citizenry.
It's a common mistake.
Yes, there is a Santa Claus.
that is why Ron Paul is winning Iowa.
LOL and they're soooooooo mad.
Really? Ron Paul? Al the Ron Paul hype is the same bullstein that we get when someone suggests that things would be better if only a (women, Latino/a, African-American, whoever isn't a middle-aged white dude (MAWD)) were president. Then they get in and are shocked to discover there are other wills in the world than theirs (some of which might even be legitimate!), they expend endless energy trying to muzzle dissent when others shred their lame ideas, and most ominously, discover that the temptation to use force to make others do what you want is irresistible, no matter what promises of "this time it'll be different!" are made. It happens alway, everywhere, throughout history, and a Ron Paul presidency would be no different (by the way something, wouldn't one of the better outcomes for American government be a reduction in the power of the executive?)
No more "imperial" wars? Sounds nice, but see the last point above, and who can always tell from afar and ahead of time what is a legitimate use of force and which battles are necessary to fight? We have a black prez, a female SOS, and several women in important positions, and still they can't resist the lure of the drones. Why would Paul, a MAWD by any reckoning, be any different?
End the Fed? Again, sounds good, but that devolves power of the purse to Congress (still a bastion of the much-maligned MAWDs)? Wanna bet on how well they handle it. And don't even start with the "gold standard", which has been a disaster whenever implemented, difficult and often destructive to maintain when in force, and always subject to the pressure of the prisoner's dilemma, which the one on the gold side of the equation has very little chance of winning (just look at current currency intervention failures).
For my son, I answer the question with a question--"Does Batman exist?"
Break out the Bat signal... we need to clean house.
Wall Street fund managers have to pump the market up for a good year-end. Many of us were buying up and waiting for the fund managers year-end ramp!!
Ah say no more- the Plunge Protection Team failed abysmally yesterday afternoon in high volume when BAC broke $5 to the downside, so they're getting an early start on today's santa-induced levitation.
OT: For shits and giggles, I decided to see what the market did on days that NAR reported and here is the breakdown
11/21/2011
2.67%
10/20/2011
1.83%
9/21/2011
3.33%
8/18/2011
4.93%
7/20/2011
0.51%
6/21/2011
1.50%
5/19/2011
0.78%
4/20/2011
1.03%
3/21/2011
1.48%
2/23/2011
1.40%
1/20/2011
0.94%
So all of the gains were essentially doubled since the market priced in double the houses sold. Tomorrow will be an interesting day to say the least.
apologies for the table not importing well.
Isn't that curious?
look at that rip! operation fast and furious, the "save the Santa Clause rally" edition.
"I have gone to far into the land of strangeness"
Robin Williams
"He exists as certainly as love and generosity and devotion exist, and you know that they abound and give to your life its highest beauty and joy."
"There would be no childlike faith then, no poetry, no romance to make tolerable this existence. We should have no enjoyment, except in sense and sight. The eternal light with which childhood fills the world would be extinguished."
People just don't write like that anymore.
That's because people don't read like that anymore.
Well said.
'People just don't write like that anymore.'
They do. Pick up a childrens book. But when you're a retirement age UBS trader, it's just sad.
Being a trader at UBS is just sad no matter what your age.
Word.
Yes, Virginia, there IS insanity!
This is fairly typical behavior for the week before Christmas!
Its beginning to look a lot like christmas... (For the mentally insufficient)
@WB
Is that the "Santa Crauze rarry"?
Samurai Clause?
Best yet. pure Art.
I think I know why SamuraiClaus is looking a little worried...
[ChinaDaily] - Toy orders plunge amid Western downturn
SHENZHEN - Most of the toy businesses in southern China's export-oriented city of Shenzhen have seen 20-30-percent drops in overseas orders this year due to the economic downturns in Europe and the United States, a local industry group official said Tuesday.
http://www.chinadaily.com.cn/china/2011-12/20/content_14295972.htm
Wall Street had to do this rally. Fund manager performance is what counts. Time to paint the year-end tape. Since Wall Street runs main street now is as a good time as any. What a difference a day makes.
I love it. Very well written. Inspirational even. Better than anything I have read this week. (need to hit the books). Thank You Art. You live up to your name!!!
Aren't "The Pentagon" & "the CIA" in VIRGINIA"?
Just saying...
Nowadays, Santa knows who's naughty or nice because he has surveillance drones, Facebook and Carrier IQ on all the smartphones.
nah...due to budgetary considerations Santa just contracted the naughty or nice bit out to the DHS...
There will be no Christmas this year because Santa is being detained for not properly bending over to be fisted by the TSA.
"Carrier IQ on all smartphones".
I built my own carrier backplane and cell phone to avoid surveillance and eavesdropping.
Anyone can do it.
http://openbts.sourceforge.net/
And
http://digikey.com
Blogging @ http://openbts.blogspot.com
Oh yea and this nice howto from the MIT folks:
http://www.technologyreview.com/communications/25107/
Interesting stuff - I'd be tempted to do the same thing but I have a stupid phone from Virgin Mobile. No camera, no SIM card and the battery is easy to pop out until I want to make a call which ain't often at 10 cents/minute.
Ah yes.
But for those with interest ebay has most of the hardware that you need.
Once completed you can hook the system up to any Internet connection that you come across. Including unsecured wireless hotspots. (Hotels, your neighbors wireless access point, public libraries, etc).
It turns your car into a free mobile phone booth if you amortize the cost of the backplane equipment over a few years. Plus it's mucho anonymous.
Enjoy.
Ah Yes, the Jesus Principle.
I guess that's why the Irish believe in leprechauns, just because you can't see them doesn't mean they aren't there
http://joe.ie/news-politics/current-affairs/one-third-of-irish-people-believe-leprechauns-exist-0010751-1
That reminds me of something WilliamBanzai7 shared:
300 police storm Wuhan mountaintop in search of "ghost," find homeless manhttp://shanghaiist.com/2011/12/20/300_wuhan_police_storm_temple_in_se.ph...
Miracle on 34th Street: http://www.imdb.com/title/tt0039628/
Watching the market open and thinking...why do the goldbugs thing the shiney metal cannot be manipulated forever?
Its not only possible but likely gold stays the most manipulated thing from here on out, then at some point declared illegal and confiscated.
You can say there is no such thing as Santa -
Grandma Got Run Over By A Reindeer---Dr. Elmo
http://t.co/TgdyACXP
Santa has taken pity on Porky's reduced comps and projected Morningstar ratings, for a moment
Porky Pig- Blue Christmas
http://t.co/YsaXKPSB
Interesting how Goldman is not really participating in the "Santa Rally"
Nice one Art. The hebs love to perpetuate the drunken Irishman meme, and the perverted priests.
Does Art know any young boys? Maybe a 2-fer in his future.
Up, up, up, it must be fucking Christmas.
Impossible to prove a negative. Does gold have "intrinsic value?" I can't prove that it does, but I believe it anyway, and I dare you to prove that it doesn't!
I stand by my comment this am, thast you guys are a traders nightmare often. always too bearish no matter how oversold the market is. my boss cost me yesterday
Big deal, markets up....to where they were a few days ago, on hopium vapors.
I stand by my comment this am, thast you guys are a traders nightmare often. always too bearish no matter how oversold the market is. my boss cost me yesterday
we are in fact just about right now where you would initiate a short.
A Needed Seasonal Note - As we all hopefully recall, young Virginia O’Hanlon wrote to the New York Sun in 1897 to inquire if there really was a Santa Claus. Herewith - the letter and response.
DEAR EDITOR: I am 8 years old. Some of my little friends say there is no Al Quaeda. Papa says, 'If you see it on the FOX network it's so.' Please tell me the truth; is there an Al Quaeda ?
VIRGINIA O'HANLON.
115 WEST NINETY-FIFTH STREET
VIRGINIA, your little friends are wrong. They have been affected by the skepticism of a skeptical age. They do not believe except [what] they see. They think that nothing can be which is not comprehensible by their little minds. All minds, Virginia, whether they be men's or children's, are little. In this great universe of ours man is a mere insect, an ant, in his intellect, as compared with the boundless world about him, as measured by the intelligence capable of grasping the whole of truth and knowledge.
Yes, VIRGINIA, there is an Al Queada. It exists as certainly as the lust for global domination and greed for monetary gain and dependence on foreign oil exist, and you know that they abound and give to your life its highest beauty and joy. Alas! how dreary would be the world if there were no Al Quaeda! It would be as dreary as if there were no VIRGINIAS. There would be no childlike faith then, no giant monster trucks, no WalMarts to make tolerable this existence. We should have no enjoyment, and no violent, psychopathic killing video games. The eternal shades with which cynical power politics fills the world would be extinguished.
Ha. So far the EU hasn't come through with my pony, unicorn or rainbow.
Now i want a hippopotamus for christmas. Only a hippopotamus will do:
BTW, in my mind those are Jim Cramers legs:
"slewie: is there a PPT?"
you bet yer styooopid ass there is! and they got santa's back, too, not to mention his sack, which they never, ever release
they propped up the euro for weeks trying to keep the dollar and deflation under control
and now, they have goosed it, too!
viola! heeeeeere's santa!
We WILL have our bonuses even if it kills your account.
Merry X-Mas sheep.
Too little, too late.
It is still no clear to me if any of you guys is a trader or not.
Market rigged or not, santa claus or not...if you are in this to make money better to abandon these useless attitude and focus on trading.Of course evryone can blame anything or anyone for their inability to trade with discipline and consistency, but , after all that is what children do.
Grow up and use the existing staus quo to your own advantage.
Not a trader? What else would you call a semi-employed welder and part-time farm-machinery repairman?
I suppose, if ZH comments were indexed by their entertainment and educational value, those posted by actual traders would trend near the null mark. I will now make up a typical trader comment:
"I'm long on the FCD output with put-call and short BST till algos invert, bitchez!"
Yep, that's about as clear as fucking mud, and riveting reading to boot. Merry Christmas.
Santa's Debt/GDP is too high to make this market jump.
Happy Channukah everyone. We all know who really controls Christmas.
Here, get into the spirit of the season...
http://www.youtube.com/watch?v=zLziuB8aM2w
I can say this, that when you have a big opebning gap like this, and up all day you can usually buy and inverse fund at the close because the europeans and asian who bouth at out low are going to make a fortune and take some profits overnight. it draves me crazy when we gap this way and don't go back to baseline at all and at least then go up.