I purposely have ignored the market today. As a matter of fact, I just turned on the God damned computer. Much to my surprise, we are not down 1,000. But we will get there. Don’t you worry about going lower. The fucking Europeans irritate me to no end. If you are European and happen to be reading iBC, close this page immediately, for you are no longer welcomed around these parts.
I want you to appreciate the ABSURDITY of this tape. Forget about fundamentals for a moment and understand reality. Should that bitch, Merkel, get off her “NEIN NEIN NEIN” plan, this market is going to fucking roar by 1,000 point inside 1-2 days. All she needs to say is “we are considering issuance of eurobonds” and the crisis will end. More than that, recession concerns in Europe will abate, yields will plummet and life as we know it will be better.
But she’s not going to do that, is she? This monster of a woman is channeling Herman Cain, only in the wrong fucking language, and is only interested in DESTROYING THE FUCKING PLANET. That’s what Germans do, no?
The alternative is a global depression. If Germany wins this war, all of Europe will be flushed, the Euro will cease to exist and the Dow Jones will consolidate around the fucking 5,000 level. At that point, I will spend the majority of my time throwing darts at a Angela Merkel picture, over and over again until I am carted off to my local mental institution.
Realistically, I am going to throw the towel in shortly. Even though we are oversold and all of the laws of mathematics points towards a short term inflection point aka a rally for the ages, this is fucking horseshit and I want no part of it.
As America sashays in and out of shopping malls on this joyous “Black Friday”, “The Fly” spits on the ground in disdain and contempt for the asshats abroad.
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Onyx video is great!! thanks fly
I feel your pain…
But one of the best diddies of the year.
Fitch loves Italy. Greece wants a better haircut. Merkel channeling Cain. Rabid US shoppers with no credit get pepper sprayed.
It’s all bullish.
Nymph’s best holiday ever…
lol,Not getting my hope up, some silly Govt may QE me if I get too happy..lol.
I’m thinking we get a nice reversal around 1140-ish. I’m also thinking I will nibble on the miners a bit more if/when $HUI hits 511 range and if it holds there. JMO very novice opinion. Some suggestions I made a while back that turned out pretty good if you read me – SKF was still a buy at $68 last week. ERY was going to bounce off a longterm TL at 11.28 and I still like RIG with an add at $41 range. If you like to bottom fish BAL and NIB look interesting. I just got back from walking the nature trail at Deer Island in Winthrop, Mass.; the weather is awesome. Eventually Angela Merkel will bend.
Also, how the hell anyone could buy this market today is beyond me with the weekend follies approaching.
I nibbled LONG !
I covered some of my SHORT !
—
Gittin’ my weekend HEDGE on !
๐
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“Eventually Angela Merkel will bend”… haha…
That’s what Berscapunnanni said.
See where that got him.
Maybe he and Chirac will wind up in the same criminal corruption courts?
No doubt.
High end “yay” tricks as stenographers with blouses that reflect whether the court has A/C or no.
Indeud. Nein! Nein! Nein!
Neun = Nine
Nein = No
.
In-Vert-Ed Ham-Mer !!!
Pleeeze … say it with me …
In-Vert-Ed Ham-Mer !!!
.
If all other countries but Germany implode, Germany will be unable to sustain itself, by itself. Thus, issuance of bonds for the Euro must happen.
@Random – You would think that were the case, but harken back to fall of 2008. Our congress needed the market to give it a hard dry salami to the head before they authorized TARP. Politicians the world over are all the same. They will not move until they are forced to.
The German people won’t force her. They will vote her out of office if she bails out the EU. I think the Germans figure things are going to get bad no matter what they do, but at the end of the they will be left standing.
I think we stay locked in this same range SPX 1120-1270 either the plan to print more euros is given or the first major Euro bank collapse (socgen?) – at which time the agreement to print more Euros is given
This horseshit is bananas.
Don’t give up yet – We haven’t even tested the Oct lows yet .. that’s “Custer’s Last Stand” ..
If the bulls don’t defend that line – the Indians win the battle and your scalp is my prize .. !!
Wow, if fly is throwing the towel, then I should be running for the hills at this point.
Bought a little BAX, sold a little JNJ.
Life goes on.
There was some minor distribution in the bond ETFs today, first time in a while. Just looking for little signals but not putting on any big bets for sure and surely not today. Enjoy your weekend.
I like these half days.
Can we do this once a week? Maybe start at 10:30?
During the late 1960’s there were reguler early closings due to the volume of paperwork. It does not always need to be a rat race. Google “NYSE special closings”
So only the USA are allowed to tank the market? It’s not like your politicians aren’t equally as clueless…
Europe is tanking the market right now. I think few readers would defend the actions of american politicians.
Hey Fly,
Blame It on the Bossa Nova (German Line Dancers edition):
http://www.youtube.com/watch?v=uZspSI8Fhso&feature=related
Prediction:
Black Friday numbers will suprise to the upside plus some good news on this euro bullshit will send in Santa to de-ball bears..
Looks like you are right on the black friday
http://www.foxbusiness.com/industries/2011/11/25/retailers-calling-black-friday-one-best-in-history/
Isn’t Europe already in recession?
INTELLEGEBT ACTIONS & SIMPLE WORDS MAKE A MAN AND HIS NATIOJ HEALTH ,WEALTH & WISE !
FLY FOR PRESIDENT !
KEEP DRINKING THAT LIQIDITY OF WORLD STIMULUS AND WILL SPELL OUR OUT WAY OUT OF THIS MR. pRESIDENT !
market liquidity is an asset’s ability to be sold without causing a significant movement in the price and with minimum loss of value. Money, or cash in hand, is the most liquid asset, and can be used immediately to perform economic actions like buying, selling, or paying debt, meeting immediate wants and needs.[1]
Return the remainder of my Johnny Blue immediately!
That’s funny.
What in the holy fuck are you talking about? Did Dumb Blind Ant hack your computer?
You know, there are therapists to help with your homo issues?
I’m always impressed by the Fly’s wide selection of African jungle music and story graphics. I hope you jerks appreciate the effort that goes into these selections.
shit, why is the market halted 3 hours ago ???
I don’t even think eurobonds will help that much. How are they going to guarantee them without the ECB jumping on board? Germany can’t backstop the entire EU block by themselves.
The only thing that really keeps Europe from defaulting is printing euros, and that really doesn’t help American markets unless Ben jumps in alongside them.
Precisely the problem. Both Germany and the ECB need to remove their heads from their asses. Do that and the crisis is over. The alternative is to drag all of the EU into hell for the next decade.
“Do that and the crisis is over.”
Until the next crisis.
I’d hardly say the crisis is over. I’d say the direction of the crisis will be determined.
You do not promise as much money as Europeans have promised to pay people, then fail to deliver (default, print, I don’t care what…) and not have some fallout.
We’re as volatile as we are mostly because no one knows which way this blade cuts, but once it’s made clear, we’ll get to wherever we’re going in a hurry.
If they print, the resulting run on the euro is going to be so fast, so huge, so destructive, that you’ll see imports to Europe dry up (looking at us and China), as every holder of euros runs for their lives.
You’re telling me that can induce that level of price inflation and also not crush some percentage of their economic activity? I don’t think the EU block can do anything to stop a little more unemployment and economic contraction. This is all about “lose a finger/lose a hand” tradeoffs.
http://www.youtube.com/watch?v=gTGsYNUfdgs&feature=player_embedded
Joel Osteen says You’ll Get Double for Your Trouble
http://www.youtube.com
Joel Osteen teaches you the key to being a bounce back person. Studies prove that during a hurricane, a palm tree will simply stretch and not break from the …..
That’s what Germans do no? lol
Even though he is over 47.5 I read this to my Grandfather just now that follows the market. He will be 84 next month, is WWII vet, I have not heard him laugh that loud in years (he rarely ever laughs at all)
-Thanks Fly! that really made my day.
This year I just been trading mainly futures and minis at my leisure, compared to other years where I devoted most my trading account and managed accounts towards equity’s.
Can’t say for sure if I would be up or down if I had been trading mainly equities (short or long) this year, but I can say for sure I would have aged about 2-3 years in the last 12 months if I had.
Happy late Thanksgiving by the way!
I’m thankful that I took off managing other accounts in equities this year, might have gone completely bald.
Nothing feels worse to me then losing other peoples money, I know there is still of a few of us out there(not many) that actually gives a shit, think one guy around here too. Regardless it would have been a very stressful year for me.
If I had to guess I think the market makes yet another new low for the year or into early next year if it can drag that long unless of course Merkel gets off her โNEIN NEIN NEIN”.
Either way I’m not taking on any positions with 95% of my account other then trading minis and futures short term in and out and around supports and resistances. The other 5% is for me to keep things interesting.
It’s not easy but it is the easier way for me rather then sleep with them sluts over night or longer (gigolos if your a women trader).
Thanks for the onyx video too!
Made me remember a breif time when I lived Brooklyn heights. I talked my mom into taking me down to Fulton mall (think it was around my birthday) to get the new Onyx album. You had to be over 18 to buy it and they normally would sell it anyway but I’m pretty white and they thought I might be a midget cop so they refused.
My mom had to ask for it at the counter by name which was hilarious to me at the time and embarrassing for her, she said to the clerk who was real ghetto, can have a copy of the new onyx badafucup album please, we all had a good laugh accept for my step dad who was forced to listen to Onyx.
Fantastic comment.
There is no end to this, except to let the defaults happen. Le Grande Flush. Sorry. It will hurt all of us. Kicking the can down the road ensures that when the Le Grande Flush happens, it will be even worse.
Yes Woodie, this problem goes way back. The LTCM fiasco was the beginning of the end. They should have allowed the company to fail to teach the rest of the industry a lesson about risk. Instead, they bailed them out and it has been bail-out after bail-out.
So, now we are bailing out entire countries. Soon it will be the entire world economy that needs to be bailed out, too bad there won’t be anyone left to do it.
I disagree Wood. They have committed themselves to seeing this through. Should they reverse course now and allow failures, the trillions spent holding the global economy together over the past 3 years will be evaporated.
Who exactly wants to be responsible for this?
Fly
The money isn’t there man. They don’t have the ability to save it.
The last 3 years were a fantasy. Game over my friend. Debt defaults are guaranteed. The bond market is spelling it out plain and simple.
Your thesis of printing is wrong and I wouldn’t be surprised of they tried it. However, the money isn’t there to fix it without hyperinflation.
Staying short/
That money is gone – right into the pockets of you know who. And remember who DIDN’T participate in the LTCM bailout: Bear Stearns.
Their failure to act then ensured no one would help them in 2008 – only this time, they will all be slicing and dicing everything in their paths in order to stay alive knowing precisely that there will be no bailout for many of them. Like MF global, there are probably already internal runs as employees who know the gig is up are getting their money out before its taken from them by their own bosses or other firms.
Isn’t this what Marx said would happen in late stage capitalism?
They murder and then eat each other.
Or as Hemingway asked in The Son Also Rises: how did you go bankrupt?
The answer is: slowly at first, and then all at once…
All.
at
once.
Were is there safety from this? US banks would be saved I think. Swiss banks have been selling mortgages in Hungary etc so they could go down. Gold coins, but they are costly and impractical. Shares and land will drop in market value but at least they will continue to exist.
Where, not were..
I know nothing. But once in a blue moon the market jumps off the tracks. And you gotta be flexible. Overbought got overbought for like 5 years from 1995 – 2000. But you recently had pretty negative sentiment which did lead to a good October rally but since then nothing is working right, which tells me something’s wrong. Key cumulative breadth, weekly and daily are collapsing along with weekly charts in ways we haven’t seen since 2008. Not good. So we’re not looking at oversold bounces in an uptrend. We’re looking at oversold conditions on the brink of melt down. I expect this to last a good 4-6 weeks more, with only rare pops which will temporarily excite and then sorely disappoint. But, as I said, what do I know?
Buy CTL… hold until Christmas.
Germany is playing wolf just hope they dont wait until it’s to late
I won’t lower the conversation to offensive innuendo or extreme escalating comments of a violent provocation.
This is what readers here should appreciate.
Germany now holds all the cards.
Thankfully, after lengthy discussions with the new generation, they know that the world’ depends on them.
They understand the “last man” mind set.
The lack of “overcoming” that is inherent in their nation, is something they will assist us lessers with.
Insulting superior minds does nothing but make you look like th PIIGS [sic] sympathizers you are.
You should exult this nation, not blaspheme their talent.
If you were wise and humble, you’d reflect.
Of course, I expect more “free speech” vomit.
Fuck Germany. They will burn more than anyone else for their inaction.
They should have known this was going to happen when they joined the EU.
EXACTLY
Well said. Merkel is the only leader out there with more than just next week on their mind. Why does Greece, a country who’s people believe they are entitled to not pay taxes, deserve money from countries that actually add value to the world economy? Walk away from a bet you know is a loser.
You people are out of your fucking minds. Do you realize what the price of inaction is?
Far more than printing some euros.
Seรฑor …
In-Vert-Ed Ham-Mer !!!
HELLO!!!
—
Perhaps. it’s time to “embrace” … some TNA !!!
.
Blind Ant, please clarify what you are saying. What is it you are expecting Germany to do, in view of the fact that the world is depending on them?
You are praising the same people who’s obstinate economic opinions in the past led to the rise of the Nazi Party, genocide, and the largest war the earth has ever seen?! And now you trust that they are the only people left who know what is right?
I invoke Godwin’s law.
If Germany forces treaty rewrites, they lose their own sovereignty as much as the next guy. The beauty of the bond situation as it stands is that Germany is not presently responsible for other country’s debt. Euro bonds changes all of that.
It’s just so much more likely that in trying to bailout Europe, Germany gets dragged down with the rest of the ship.
If the Germans are going to have to print money, why do it for the God-damned French? Or Italians or Greeks.
I’d cut ties and then have my own central bankers print the re-released marks for the benefit of my own citizens.
Dow 14,000 in 2012. Bank on it!
I already ordered a new hat that says “Dow 14,000 or Bust”. Please say hello if you see me in the streets.
See ya there. I’ll be the dude selling General Electric shares for wallpaper ( or insulation).
Barter is back!
I have chosen a fantastic year to try my hand at the market. Still love it though…
“The consequence of NIMBY ism.”
WORD IS THAT GERMANY & RUSSIA ARE TEAMING UP TO RULE THE ECONOMYS OF THE WORLD http://www.youtube.com/watch?feature=player_detailpage&v=qeCgRJwhj3s
The Russian Bear Is Back, The Soviet Union Is Being Revived And The Cold War Is Not Over
http://endoftheamericandream.com/archives/20-signs-that-america-is-going-crazy
You think things are messed up now? Just wait until the US pulls the trigger on Syria.
What? you say……
Well why else did Owebama just park one of our carrier task forces right off the coast of Syria?
When you say the money isn’t there, thats a mathematical impossibility. A central bank can print as much as they like.
Might as well print. It won’t be paid back anyway and maybe stocks can go up in nominal terms. In a few years the 85% of the world not contained in the EZ, Japan and the US will come up with their own currency and trade among themselves. Oh well at least we still have the world’s strongest military.
Merkel just needs to relax
http://www.youtube.com/watch?v=eTQY1Aw9zcs
The following are my impressions just stream-of-consciousness-like whilst enjoying the Onyx video:
Wonderfully expressive hand movements demonstrating street cred from get-go, joyous boy play fake fighting, gratuitous sand throwing and waving weapons in air. Whatโs that heโs licking (a shovel?), perhaps symbolizing he just buried someone he shot, or even deeper meaningfulness? We can only theorize. No time to ponder as itโs โThrow [something] up in air, and do [something] like you just donโt care.โ Nice, original. Goody, here come more gangster talk… filler transition… cut to him looking tough like in a red walled disco, whatโs he doing there, seems a little fey…NO! itโs an analogy for blood cause then thereโs a guy lying in a pool oโ blood, foโ REAL! BOOM! … Oh its throw your GUNs in the air, not throw your gums, that would be silly, wait this whole video is silly, no, I am not saying this whole video is silly… poignantly tosses a handful of sand falling backward like he just donโt care … homey tries to catch him sort of grabs at him in awkward ballet, nice vignette. And now the denouement, they all walk off behind the dune, signaling unity and the one guy in the back points a gun in the general direction of the camera so as to protect their back. They donโt want anyone following them back there behind their secret dune. Wonder what they are going back there for. This video offers a fresh new take on obscure hand signals and gun waving. A classic that will no doubt stand the test of time. Genius.
Lol
expense in an iPad a couple of. Soon after that, even though, http://www.baidu.com T1 and T2 respectively. By 20th day the residues of anilofos