Europe is selling off panic mode style, following the collapse of the Dutch and French governments. I am sure their new governments will conform perfectly fine to their astute colleagues at the ECB. If not, I’m afraid their leaders will be in grave danger of assassination.
So we’re replaying the crisis in Europe again for the 5th time in two years. This version is about Spain and Italy, soon to be France, then finally Belgium, Czech and Germany. It’s about the entirety of the EU and the dastardly bastards who are forcing yields up will not let up until blood is flowing freely in the streets. With select European indices down 3% for the day, our markets are un- investable.
We’re going back to Jimmy Cramer’s DEFCON 2, the precipice of the end series, luxury edition.
I know this is all very singular, as just three weeks ago the markets were in cocaine heaven. But reality has interfered with the matrix and these pervasive issues are quite hard to sweep under the rug. What needs to happen is a great bond auction or some sort of policy statement out of the ECB alluding to their intent to backstop any and all EU debt. Providing we get that, this market will rip tits to the upside. Without it, we’re just gonna panic the fuck out of stocks into bonds again, like medieval macabres manning trebuchets outside the city of Calais.
I am pleased to be in a 53% cash position; but chagrined to be 47% long. Nevertheless, it’s only a matter of time before this market panic is met with a policy response, as it is demanded in order to keep the ponzi scheme running. Bank on that.
http://www.youtube.com/watch?v=TmmfFKpoRXI&feature=related
If you enjoy the content at iBankCoin, please follow us on Twitter
Did I hear Ponzi Scheme…good post Tyler
Boy, they sure top-ticked everyone’s retirement contributions this year. Just Psychotic!
Great call Scott!
no, no. but thanks. Clam is about to save the markets again very soon…
yeah for about 5 trading days…..
Clam can only do so much with Europe–unless he guarantees and backstops all EU debt. Oops, well, okay, he might do it!;)
I dooooo believe that the US just told the IMF that would not be contributing to their slush fund. That may signal something of the current train of thought.
Heaterman, Old news guy, like last week, Canada said Fuck you too to IMF. China Refused to disclose the amount and there is still a HECK of alot of BRIC talk with IMF for more power for more money.
“Just” is a relative term. Merely mentioned it for the sake of discussion.
Methinks that there is a copious amount of backroom maneuvering going in with those negotiations. Our boys in China are flexing their cash muscle. Canada just doesn’t want to get involved and I think the BRI part or that equation has their own set of problems to deal with.
no no my azz. dude, is still right…… more bed shittin still to come…….
It was an unbelievable call. You were months ahead of this, Bleier. Well done!
lucky guess…
guess my azz…….U R da man!!!!!!!!!!!!!!!! isnt he fly!
Uh, no. Signed, Dr. Fly
Jumping in on ZNGA
If thats what we need, then it wont happen. They’ll just do it half assed again, and wait to see what happens.
I seem to say this every year.
“If I only had listened to Scotty B”
Not buying shit until we get our yearly -80 to -100 day on the S&P, bounce, then retest.
See everyone in Sept / Oct.
This^
The French election thing is a real concern as the socialists there are truly fucking stupid and they are hungry for power which could cause them to do all sorts of stupid shit.
The frogs could derail what’s going on in Europe so far and it could be that the Germans decide they have had enough after they see these economic trogs in action.
The market is right to be really worried.
Sarkozy actually did better than expected. Re-match in 2 weeks.
J..This could be seen since Dec 2011, heck it was one of my fav bear catalyst for the coming year. Market should have priced it?
No Fed moves until after election…no market bottom until then either.
JakeGint and his HUI consolidation…pfft
dont go there.this is a generational buy op if ever there was one…….. the day is coming,with dispatch,and you’ll had wished you “got physical”. and i dont mean olivia newton john physical either
Lots of people expecting the end of the world right now. I think downside is limited from here… FOR NOW.
People switching mindset over one weekend is not exactly a bottoming process.
French socialist wants a 75% tax rate on earnings of 1 mill a year. Talk about a motivation to work…you’d be better off making 900,000 and taking a nap the rest of the year. Insanity.
That line of thinking is coming to a country near you. Soon.
heaterman.i just walked off a job for that very same reason,no more than 45 minutes ago. asshats at cnbc are fucking talking austerity again. boy how i wish i had flys’ space beam cannon,i would lay waste right at this very moment………NICTO BORATO MOTHER GRABBERS
Retirement-off
MY EMPLOYER CALLED ME THAT TODAY.YA KNOW WHAT I TOLD EM……….THEN PAY ME LIKE A TOP GUN.
aapl on dips
WMT bribe issue gives the idiots at CNBC a hard on.
BRibes are part of business everywhere
even chicago cops
Well, at least the panic is because of actual problems. French socialists and a possible bailout/default of the worlds 8th and 12th largest countries are real problems involving real economies.
I was kind of getting tired of the market panicking over the economic equivalent of Philadelphia.
Hopefully this brings us one step closer to an end game.
oh,so the ahabs cutting isreal off from nat gas the other day has nothing what so ever to do with today either?
Quite possibly. Hard to get a read on whether or not this is any worse than every other one day panic we’ve seen these past few weeks.
Plus, nat gas has been in it’s own world for so long.
plain and simple like scotty says,as i interpet it…a money grab…….ours
In the middle east no bribes = no business.
All corporations trying to operate there have to have so called agents in order to do business
Now the Dutch join the”everybody’s in a mess” party. A finger in the dyke is not helping here or there.
Did you mean dike or “dyke”?
“So we’re replaying the crisis in Europe again for the 5th time in two years. This version is about Spain and Italy, soon to be France, then finally Belgium, Czech and Germany.”
Looking at it as glass is half-full, at least after Germany has its turn in the barrel we will have run out of Euro countries to worry about. Looking at it as glass is half-empty, after Germany we’ll circle back around to the Greece and Ireland and start the whole circle jerk all over again.
Market bottoms first week in May. Selling stampede began on 4/4 and the average stampede reaches trough pricing around the 19th trading session after the start. 19 trading sessions after 4/4 is 5/3.
woe is me
how the hell is GDX at the same price as when gold was at 1100? WTF??????
Either gold is about to shit the bed in a big way or I just need to hang tight.
posted b4, if ya fart in church, ya sit in ur own pew!
wmt, in mexico its bribery, here its called campaign contributions…go figure.
yea,or buying a chicago cop,his lunch. roflmfao
da way it should be…lol
I guess we’re not going margin this time?
There will come a point when policy response becomes ineffective. I don’t know if we’re there yet, but we’re close.
Fly, I do like the Matrix Metaphore (you have used it many times before). I am still in disbelief on how so many walk in the Matrix without seeing it for what it is. BTW, Totally hate Clams, (oh oh..did you see Dove Yellen’s Aril 11 Q and A, she is backing away from Twist in a big way..maybe even the Clam is getting sick of himself? no, stupid Mr. Smith Clam).
Looks like hints of ECB Bond Buying can be my next Clam Pain to deal with tonight, but Aussie CPI data should help to confirm a rate cut next month.
watched 2012 last night, now to find out where those ships r. go all water world..where ya can pee in a mr. coffee and get tasters choise.
tradin nymph,Pogonophobia
Razor, Actually, lol, Ostraconophobia..I fear the Clams more then the beard.
knock off that funky dress in the avatar so i can see the bearded clam, come on,i know it’s hiding under there.
Drummer..Its a White Swan Dress. Plus, Bikini Season is coming, so nope there either.
what,no twistin by the pool….noooo
entertaining, i approve the title of this blog post!
i ask myself the same thing everyday,for a long time now…….. i cant believe this shit,any of it, any more.it’s not just the market either.