While you bask in your pikerness, remember the answers.
[youtube:http://www.youtube.com/watch?v=P93nrB0silk 450 300]Bear market rally. Nothing more.
UPDATE: “The Fly” versus 3rd tier blogger of choice..
[youtube:http://www.youtube.com/watch?v=9OW_EUDGp88 450 300]UPDATE II: More Faber.
[youtube:http://www.youtube.com/watch?v=KP_fkmNgzdM 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
Hmm…reflate assets until the summer or beginning of summer?
And then, deleveraging again?
Still 2-3 months of mustard seed left?
I think this BMR will morph into a legless lizard over night.
“Nobody’s going to bunt, I’m going to knock it to the fucking moon”
I love this show.
That last thread was getting a little nasty and I don’t even think DD started it.
BDI index is falling again? more like cliff diving.
Hmm, did Fed really need those 300B long term T buying (inflating dollars) to lower the bond yields? Maybe they new already that if there was nothing for equities to squeeze shorts we wouldve crashed? Enough demand was there was treasuries, since it was the only place to safeguard.
Any theories?
I think it means there may be bad news on the horizon, or its a tactic before data improvement (less bad) to create a double whammy.
Oil demand is horrible, looking at today’s numbers which didn’t get much attention. USD selling was the name of the game.
Maybe Bernanke wanted to force those who are in the sidelines to enter before their purchasing power is reduced because of “not drinking koolaid”
Yawn…
Whatever
Shut up before i have you banned.
Faber is da man…
On bloomberg he said he owns farms that make hash in Thailand.
I am surprised Faber advocates not storing the Gold in Switzerland. I suppose he just pissed off a lot of Swiss Bankers with that comment.
I should start training my son for the bull market in 10 years for now, as I will probably not be trading any more by that time at this rate.
It was bad enough getting the rectal probe from Bernake today, only to watch Cramers slobbering on CNBC about how he basically wants to blow the guy now.
For the love of god.
I am no longer a virgin.
The mother of all shorting opportunities will probably start tomorrow, with my luck as of late (the last 4 days!) Dry Powder + Fear=no bueno
http://www.youtube.com/watch?v=97JrGQsOCIg
I can’t take Faber seriously with that silly pony tail he’s got.
The Man with the Golden Dick, Dr. Cock and Balls, … funny episode.
J – STFU, piker from Oz.
Schwartz’s pony got him a 2X bid from IBM. Chill.
I will get that pony tail.
And the pony tail on the guy who thinks he is cool on Fast Money. You know. The one with the Devil’s beard.
“No dickslappin…that my game” Will Ferrel is a true comedy. Danny Mcbride is the next 20 million man. A star is born. Also the girl friend is a 10.
Markets are not well.. Banks Broken….Autos Broken….Insurance Broken….Health Care Broken….Cities Broken…Employment Broken….Secondary Finance Market broken….Education Broken….No Consumer– No Business…. Only Government.
I bought some UYM $10.90 yesterday.
Pitchfork all males with pony tails.
jj
Good timing on the banks. I’m sensing some panic in the air. Shit is moving off the charts. I wonder refinance can get us out of this.. I know I’m going to shoot for a new mortgage hopefully 3.9% 30yr.
I got a letter for BAC yesterday saying that they are canceling my bullshit line of credit which is .5 under prime. Boom…sure it was a shitty deal for them but still I can only imagine what they are doing in other zip codes. By the way I have tons of equity in my house.
Jobless Claims top economic reports
After the major surprise the market received from the Fed yesterday, it may be difficult to imagine that regular economic news can have much impact.. It will be an important test of the rally to see whether continuing negative news can be discounted in light of the Fed’s actions.
Jobless Claims are due at 8:30 a.m. ET. Consensus is for 654,000, in line with last week’s numbers, with an expected range of 625,000 to 690,000. It would be bearish if the number comes in toward the high end of the range and equally bullish if it comes in at the lower end.
As the stream of unemployment numbers has been strongly negative for so long, it is only a matter of time until a result comes in lower than expected. And because markets are about perception, we may get a very strong reaction from such an event when it does take place.
Leading Indicators will be released at 10 a.m. ET. The consensus expectation is for -0.6 percent, with a range of -1.1 percent to 0.2 percent. A number lower than consensus and especially at the low end of the range would likely be bearish. A number above consensus and to the high end of the range would likely be taken as bullish.
The Philadelphia Fed Survey will also come out at 10 a.m. ET. Consensus is for a reading of -38, with a very wide range of expectations from -45.1 to -30. The survey is likely to be broad in impact, but the industrials (XLI) will likely be most heavily affected. A reading below consensus, especially at or below the low end of the range, would be bearish. A reading above consensus, especially to the high end, would be taken as bullish.
On the wild card front, Federal Reserve Governor Daniel Tarullo will be speaking at 10:30 a.m. ET before the Senate Committee on Banking, Housing, and Urban Affairs. The listed topic is “Modernizing Bank Supervision and Regulation.” Traders should be aware of the potential for additional volatility at the time he is speaking.
AND FOR MRKCBILL:
As I was putting this report together, Alcoa (AA) shares have jumped to join the most active stocks, turning over 2 million shares and trading up 2 percent. This is likely related to the sudden jump in aluminum, up 3.3 percent as of this writing, and other industrial metals following the dollar’s weakness. JP Morgan upgraded Alcoa to “overweight” after the stock began to move.
The U.S. Dollar Index continues to fall this morning after a sharp reversal to the downside yesterday. The Federal Reserve’s debt repurchase plan announced yesterday sent the index lower by 3 percent. The index is down nearly another percent as of this writing.
The weakness in the dollar is universal against its basket of currencies, with the yen gaining most. We can expect currency trading to be extremely volatile as traders adjust to the new weaker-dollar environment spurred by the Fed.
Generally a weak U.S. dollar is a positive for commodity prices. This morning, that is clearly the case with metals and energy strong. Gold is participating this morning after the weaker-dollar/stronger-gold relationship reasserted itself with a vengeance yesterday.
Given the depth of U.S. dollar weakness, we may see strength in the energy (XLE) and materials (XLB) sectors. Commodity-producing nations such as Australia (EWA), Brazil (EWZ), and Canada (EWC) may outperform today. Foreign shares usually do better when the U.S. dollar is weak, because of beneficial currency translation.
By: Bryan McCormick /OPTIONSMONSTER.COM
mrkcbill- Sounds like you’ve built the biggest wall of worry of all time. I shall climb it.
my sure thing contrarian indicator, who was buying guns & talking violence in the streets below spx700, has just put out a note saying yesterday was a game changer & depression is off the table.
I think its safe to say that this part of the rally is over! Look for a correction off todays highs or by tomorrow latest. I’ll be selling down longs & looking the other way, for sure. This fucker is led around by his dick, aka his emotions.
Are we setting up for a reversal today?
Looks like the rally has finally hit resistance?
I welcome comments.
anyone buying FAZ here?
Some or all of the writing team for Eastbound have played. You don’t know this stuff unless you’ve thrown. But, I wouldn’t put a 2-seam on that kid catcher.