The ECB did nothing. Their words are empty and their dicks are small. Chancellor Merkel is the only one with a big cock in Europe. As a result, markets are in DEFCON 5 mode, with Spanish markets trading down by 8% from the highs. This is truly a panicked tape.
KCG was wiped out, thanks to robots, in 10 minutes of egregious trading. It’s sort of surreal, as well as fucktarded, that the entire company is in jeopardy after a bad morning of trade.
I require and demand your uninterrupted and absolute attention:
WE ARE HEADING THE FUCK LOWER. AS THE ANNUAL iBC DINNER APPROACHES, AND I AM HEAVY IN VXX AND CASH, IT IS MY DESTINY TO WIN THIS ROUND AND MORE. THE MONTH OF AUGUST WAS CREATED TO HOODWINK INVESTORS INTO FUCKED UP TRAPS, CHOPPING OFF OF THE LEGS AND ARMS FOR SPORT.
You were warned, yet chose to bet against me. The lessons of the world will be lectured to you now, via large capital losses.
47 Responses to IT’S OVER
I’d be VERY impressed if you bought TLT too. nonetheless (golf clap)
Whether you are impressed or not is immaterial to me.
You’ve been marked for extermination, unless you start clapping again.
(nervously gives standing ovation)
canned laughter…. hahahaha
Thanks for the heads up I moved into cash and vxx on Tuesday
Standing by, In Israel near the city of Har-Meggido (The Hebrew name from which ‘Armeggedon’ is derived) with cash, weapons and a bunker in the hills. I will ride one of the four horseman of the apocalypse and reap the weaklings. -and YES, Merkel IS the only one who is a ‘real man’ in Europe. This game is over.
We have been led to the abiss by the eurohomos? Say it ain’t so!
Damn, that’s ABYSS
So this is Draghi’s way of doing whatever it takes in defending the Euro?
Where will the Annual iBC dinner be held?
You are all welcome guests at my ‘Armegedon bunker’ here in Israel. The ‘Fly’ has already reserved his place as one of the four horseman of the apocalypse. Did Draghi think he could..(bluff?) the entire world? Hello. There are no more buwwets rabbit.
Perhaps I’m not reading it correctly, but Draghi did say they will intervene if they think bond rates are out of line. That’s not nothing. It is a pretty big step in the right direction. he also said they may or may not sterilize the intervention.
It appears the market wanted more though like an explicit program. However they were never going to do that. I don’t think they would ever come out and tell us how much bonds they were going to buy.
I’m not totally impressed by this though.
If I may use an analogy; last week he (draghi) called out the toughest marine in the bar who was itching to fight anyone in the there to a street fight in the alley. The guy got up, went out the door, and Draghi is now on his knees talking about what he MIGHT do, while the tattooed, 220 lb marine with the cigar is about to clock him…
Yea fair enough. Lol
They need to do something. Talk is no longer adequate.
Is it possible that the FED is already doing some form of QE 3 here?? This market acts like TEFLON…your opinion please
Everything will be ok. Gmcr is up pm.
Holy reversal in the futures.
It is ironic about KCG.
I wonder if they were pushing out new code in their HFT software.
It was their own tool that caused their destruction. They destroyed themselves. In 30 damn minutes,
Heck my tinfoil hat even buzzed for a second and I thought…
Could someone have done that on purpose? An employee or an outsider?
They probably did not have a good internal process for rolling out new code changes to the HFT. And it backfired.
It’s like a large wrench bringing an entire car company down.
Or a bad deep fryer destroying MCD. Odd for sure.
How is it not oversold now? Are they going out of business? Crazy.
Sure it is oversold.
But they came out and said that their capital base has been destroyed. So they need capital to operate now. They could certainly raise that money. Bond offering, loan, whatever. If they are now illiquid to operate and need money immediately they would most likely get a loan. IMHO. (Faster to get a loan than issue a bond.)
Tempted to take a small flyer on this.
But yes, they have done nothing to raise NGDP in a region where it is collapsing. So the ECB is really Germany’s poodle.
I’m fucking sick of Euroweenieland. They should have been left to themselves in ww2 ripping their fucking hearts out.
I forgot the name of the bagel place in Jersey but you should have the iBC dinner there as Steve the neighbor works there. Oops, I hope i didn’t spoil the surprise.
Next stop, Jackson Hole!
This are Draghi’s comments:
The Governing Council, within its mandate to maintain price stability over the medium term and in observance of its independence in determining monetary policy, may undertake outright open market operations of a size adequate to reach its objective.” Draghi said after the bank kept euro zone interest rates at 0.75 percent.
“The Governing Council will consider further non-standard monetary policy measures according to what is required to repair monetary policy transmission. In the coming weeks we will design the appropriate modalities for such policy measures.”
“Draghi added that the bank would provide more details on any new purchases including a country by country breakdown while they would be focused on shorter term debt.”
This to me sounds like an announcement of a program. In fact I think they could still surprise on the upside as they may be trying to gauge the market’s needs over the next while. They aren’t going to announce the size to keep the market guessing.
I think people are far too pessimistic.
Nymph.. seems yes.
J…Read Fly’s Cheese post.
Where is the 15 year old retard that suggested we were “going the fck higher?”
He is a “rank amateur” if I recall.
It is pointless to bet against the Euro! Unless of course Draghi is defending it! What a fucktard joker!
Managing director just said to BUY BUY BUY this market (permabull)…. I mention moving to cash the other day and he got pissed lol
Other than VXX still no shorting of individual names?
The miners are so oversold they are bouncing. Overall, this is still a tough tape to short, although there’s plenty to the month of August left.
Remember “Happy Days” reruns? The Fonz is explaining why his threats work so well, and other people’s don’t. “Well, you actually had to have hit somebody at least once.”
Draghi doesn’t understand he hasn’t hit anybody yet.
When is Jackson Hole?
Wyoming… and I had to cheat to graduate high school
and you failed reading comprehension? When, not where!
May be a few weeks for the profitable VIX spike.
Damn thing is down today.
Selloff without fear.
Blogged…Find out my latest trade over in the V.Kingdom
Nymph has Clam Spines in her hands today. But, lol, China Govt acted again on the same day as BoE meeting, 3rd time they did that..its not a rate cut, but they actually did something..not like Fed, BoE or ECB.
They all said… guys… Bernanke will do something if we don’t, and on his dime… let’s play hardball at the expense of a few thousand people going homeless… Bernanke we like aren’t going to change rates… bring over a helicopter of money now or feel the wrath of a depression”