This is amateur hour. I am not in this game for 100 points on the Dow or 3% moves in XYZ. The Bernanke speech is completely and entirely IRRELEVANT. This is not an FOMC meeting and he will not tip his hand. Remember the Fed will only do QE3 if they need to do it. When they do it, they will seek ti surprise and destroy short sellers. No, I am not exaggerating. The Fed is interested in killing short sellers. That is a fact.
I am not selling anything and will gladly give back 1-2% today if need be. I do not bend the knee to gratuitous day traders.
Off to eat a sandwich.
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Tuna?
Pastrami
Just think how many pastrami sandwiches LBJ will be eating this weekend for his offseason. (Low blow I know :))
I have a lot of thoughts on that topic and it has been one of my concerns all season with them. Do they truly have what it takes to be a champion is the overriding theme.
Fly, though you might like this:
“Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.”
Yeah, it’s quite old but still applicable. IIRC, it originally came from Barry Ritholtz.
For one hour I would like to go back in time and enjoy an overstuffed inch thick layer of juicy corned beef with swiss cheese on an onion roll, with a side of potato salad at a deli in Miami Beach. And a giant slice of strawberry cheesecake to go.
Rascal House…closed:(
I’m off to see someone with a newer model time machine.
BANNED
Big Ben has no more bullets left. He knows that EQ3 is not powerful enough to overcome the Europe fuckery and the expiring Bush tax cuts. He is begging for help from Congress. They are too stupid to see it. We are fucked.
The Honey Fly don’t care.
Motreal Smoked Meat on rye with dijon and a kosher pickle. (fries optional)
If Ben wants to kil the short seller would that not imply then a continued move lower into the meeting?
For those who missed Bernanke speak this is the recap.
Bernanke stepped out in front of a silent crowd with a nickel plated revolver in one hand and a single bullet in the other. Standing next to him on stage was a Chinese man dressed in a bear suit. I had to zoom in to see the writing on the bullet but I believe I saw QE3 engraved on it. The barrel of the gun was also embossed with some sort of logo resembling that of the iBC pyramid seal (odd I thought to myself.). Bernanke placed the bullet in the gun and spun the barrel with glee before slamming it on the table. He turned to the man in the bear suit and uttered only two words, “One shot.”
+1
I’m curious to what type of sandwich as well.
Is the bread free of HFCS?
Bernanke has killed us.
Did you expect one man to save the world?
It wasn’t just him. That entire group is clueless and gives me no hope. The only thing they can do is what Fly said…
Print and surprise at the timing.
We’re doomed long run but any shorts will be short term and on leashes.
We’ll get our big BOOM BOOM closer to election time.
The New Alf.
LOL just dont tombstone Marc David .. he’s good peeps
Good simple post. Trading the news is about tiresome and is not a sound strategy in my opinion. Stocks were bought yesterday with strength plain and simple. I am looking for digestion and shoot the upside.
If Ben Bernanke generally sleeps well at night, why doesn’t the Fly?
“Never confuse motion with action.”
12-12-12
If you can cease all restless activity, your integral nature will appear.
-Lao Tzu
V.King.
We should
demand Knighthood!
Fckuing typewriter!
Phuck!
Fly has EXK nailed down. I think he has a red phone straight into Bernanke’s office.
Why the fuck should we expect more QE. US treasuries are at record low yeilds and equities are positive for the year!
Because the US “recovery” is anemic at best, and more worrisome than even a relapse into recession (caused in part by the implosion of Europe) is a couple decades of Japan-style deflation.
QE is the reason we are turning Japanese. Wake-up America!
Um, no. Not even close.
The Japanese are the model for QE and zero interest rate policy. We are folowing them down the same path and expecting to arrive at a different destination. Crazy Shit!
Similar mechanics != same focus or same result.