Stock Market comedy

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ancona

Praying Mantis
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Well, the comedy continues in the market today. I just watched the DOW spike by forty points in just a few minutes, and it did so on nearly zero volume. The Brotherhood of Darkness sure is hard at work keeping order in the markets today. It's too bad that it will all be for naught when Europe realizes that Merkozy can't save them after all and everyone defaults on their debts. It's kind of like when someone shits their pants......there's just no way to hide it. it matters not how much more money they dole out to these insolvent countries, because in the end, they are still insolvent, only now they owe even more money that can never be repaid.

We're talking about countries who cannot pay the interest on the debt they already have, much less pay the principal back when it matures.

They can juke the market all they want because as they say, Resistance Is Futile.
 
Yeah, but you can go broke waiting for reality to set in.. Sadly holding a bit if FAZ and SPXU...and some stuff that went up, too; gold and AGNC bought in the dips (check the divvie on the latter). Hoping I'll wake up say, Monday and find EUO made me well off.
 
This market is broken. News agencies are releasing some unconfirmed rumor every day between 3 and 4 pm ET and HFTs jump on it. Then we have a meltup into the close on thin volume. The next day, pre-market (9am) to 10 am everything tumbles just to have counterrally. Arround 1130 am when Europe closes we have another low.
That´s a day traders dream. I´m too lazy to trade it, though.
 
Visual confirmation by zerohedge:
20111207_zh2_0.png
 
lol. The bottom just fell out of the metals. USD soaring.
 
The metals are getting hit much more than the market today. Stuffing them into their triangle.

The dollar is up around .37%.. Still hasn't broken out but it's poised to.. It's all on Europe tomorrow.
 
The metals are getting hit much more than the market today. Stuffing them into their triangle.

The dollar is up around .37%.. Still hasn't broken out but it's poised to.. It's all on Europe tomorrow.
European Stocks get hit as hard as the metals, especially Dax and Eurostoxx stocks
 
News is definitely the driver.. People want a bazooka to come out of tomorrow's meeting and I really doubt we get it.
 
Still..

lots of short interest everywhere, especially on the euro. be nimble.
 
Yup, right on time as usual. The shit for volume vapor rally is underway. This is a daytraders wet dream. If you had enough scratch, and balls of steel, you could sweep up pennies for an hour a day, every single fucking day.

What an absolute comedic tragedy our once powerful markets have become. Now, they are the joke of the world.
 
So here we had the daily 8-9 am ET pre-market drop in everything, seems like it´s reversing now
 
OK, the popcorn is ready! Open this mother up and hit the floor boyz. I want to see a monster Friday rally.
 
Isn't today the big day for the Euro resolution?

:popcorn:
 
Isn't today the big day for the Euro resolution?

:popcorn:
Already through.
No money printing. Instead fiscal concentration at the EU level. EU now has oversight on national budgets.
Germany has won.
UK is the only country which is not participating in the new mechanism. The other 26 countries welcome their new bureaucrat masters in Brussels.

In the medium term this will be good for the Euro.
The Europeans are doing the cuts, US and UK are printing.
 
apparently, this is bad for gold. but great for silver.
 
Nah, looks like it might be a little head fake. The market is moving along in a driftastic low volume senseless, directionless hopium fueled, extramormal kind of way, just like always.
 
I'm not sure this is hopium. I think we need to acknowledge that this was bad news and the market ignored it. At the same time, short interest is pretty damn high for the Euro and the general stock market.

I'm not saying get bullish here.. I'm just saying that typically when I trade a stock and they disappoint on their numbers but trades really well, we might have missed something. Usually, that's when you get big moves. Who knows though.. maybe this will give political cover to the US, Japan or China to give that $50 billion to the IMF? Now that is hopium.
 
Politician speak...
Italian PM Monti says will see results of EU summit in a few days, does not seem to me a failure

What exactly does that mean?
 
I think it will fail because after a few days of discussion, folks will realize just how much of their sovereignty they stand to lose, and all so the banksters can be made whole for a little while longer. This is financial engineering on a never before tried scale.
 
I have given up on trying to figure out what happens when Europe does/does not do X, and how that propels our stock market. It seems, indeed, that bad news is treated as good, so the market goes up.

Also, I do not know well enough the internals of how the markets work, nor how the players in the ¨Big Club¨ (which sure as hell does not include me) buy/sell/manipulate all of this.

There have to be many, many more like me! Just saying, fuggedaboutit, just get me OUT and get me GOLD!

I have seen a few (at ZH, etc.) make a case for 50/50 (gold/cash FRNs) at least for the short term. When something BIG finally starts happening, whether inflationary or deflationary, the gold or the cash will rise MORE in value than the other will decline. That makes some sense.

In 2012 I am going to be liquidating more paper, buying more PMs, stocking up on more cash $$$ and beefing up my guns & ammo collection. It´s going to be an interesting year, maybe the most interesting year EVER!
 
I still think you buy a basket of the miners. Gold and the miners take turns outperforming one another.
 
The summit they are at could have lasted all weekend. The fact that they already know the score after just 10 hours of the first day just helps us see through the smoke, imo. The market is just treading water until the real bad (or good) news comes out over the weekend that it needs to hear in order to make it's decision. That is my take on it.

There won't be good news. Just wanted to make sure I wasn't mistaken for a hopium smoker.
 
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I have to say that after reading extensively about this subject all morning [while cleverly simulating work] I have come to the conclusion the EU cannot and should not be saved. It is going to be impossible to sustain the public opinion required to strip nations of their sovereignty and force them to eat the mistakes of banks and failed nation states. The amount of debt to be rolled over worldwide next year is absolutely staggering. It really is unpayable. in fact, more and more countries are going to find that simply paying the interest on sovereign debt has become too much of a burden to bear any longer. While they may be able to posture and obfuscate their way through the end of this year, there is no way in hell it can last through next year. The jig is up, and the shitstorm is on the horizon.

Buckle up and be sure you're wearing those big-boy pants, 'cause this shit is going to get real in one quick hurry. No warning will be given.
 
@ KMS, hey I hear you re no good news. Probably means the markets go up. Until they don´t. RIGGED I tells ya!

@ ancona, I suppose I should go and get fitted for ¨Depends¨ when I get back. Can I get them cheap at Wal-Mart?
 
So it looks like the two o'clock drift is starting. I just don't see folks heading in to the weekend with a lot of risk on the books. I'm going out on a limb and predicting [on balls alone, not fundamentals or valid information] a late session sell off. I think between 3:00 and 3:30 est. Volume sucks and everyone just wants to get the hell out of there for the weekend.
 
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It appears that they are setting up for a ramp job. Of course I know this because I rely entirely on my Spidey Sense on these things. Of course, it could be the pump up and a massive end-of-session dump. Either way, this is better than porno. Well........almost.
 
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Well, we're at the magic 3:30 mark, where the HFT's do their thing. So far, we're moving driftastically sideways.

Any minute now it's going to be either ramp or cramp. Any bets?
 
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