Short term trades in the stock market •$$$$$•

[CascadeFarmer]

Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.

"They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told the pro-Kremlin youth group Nashi while touring its lakeside summer camp some five hours drive north of Moscow.

"They are living like parasites off the global economy and their monopoly of the dollar," Putin said at the open-air meeting with admiring young Russians in what looked like early campaigning before parliamentary and presidential polls.

Regardless of any campaigning stuff Putin seems pretty close in his assessment.

 

[joeuser]

Quote:
Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.

"They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told the pro-Kremlin youth group Nashi while touring its lakeside summer camp some five hours drive north of Moscow.

"They are living like parasites off the global economy and their monopoly of the dollar," Putin said at the open-air meeting with admiring young Russians in what looked like early campaigning before parliamentary and presidential polls.

Regardless of any campaigning stuff Putin seems pretty close in his assessment.

This is what the Norway killer went after...a camp where they groom the next leaders. NOT full of "innocent" children.

Just saying...

 

[Dudesome]

This is what the Norway killer went after...a camp where they groom the next leaders. NOT full of "innocent" children.

Just saying...

huh? excuse me?

 

[Hydrosun]

huh? excuse me?

A political education / leadership camp for the chosen children of the elites and current leaders! What a wonderful world.

I think JoeUser was pointing out that these camps are targets to ideological warriors, however soccer or basketball camps for kids are not targets.

 

[SpasticGramps]

Gold is taking off. New record high. Trading at $1645 now. Spanish, French, and Italian CDS are at new record high. The insolvency contagion spreads as bond vigliantes pick at the ponzi's dead carcass.

Can't wait for QE3. As id said. I'm waiting for another big correction to BTMFD (buy the mother fucking dip). We need to see a lot of pain before Bernanke can sell QE3 to the masses. Too bad he just doesn't print the $100 trillion and get it over with already.

 

[CascadeFarmer]

And away we go...

Americans cut their spending in June for the first time in nearly two years after seeing their incomes grow by the smallest amount in nine months. The latest data offered a troubling sign for an economy that is adding few jobs and barely growing.

 

[SpasticGramps]

Shit. Where did I put my Dow 11K hat? Markets are jumping off a cliff today.

Treasury Curve Pancaking As Stocks Approach 1252 Support

The worst possible news for financials, which basically never managed to tick higher in all of 2011, is now here as the entire Treasury curve has virtually pancaked today, making sure that the perfect storm for banks is here, with nobody trading (no sales revenue), prop trading dismantled (no trading revenue), and no lending revenue soon either (2s10s heading to 0%). The closed loop will send even more money into the 10 and 30 Year, causing even more pain for banks, and so on ad inf until Bernanke relents. And you can be certain that the CEOs of the TBTFs are on the phone with the New York Fed as we speak. Luckily, the next FOMC meeting is August 9 which means the market will only have to deal with this non QE3 uncertainty for a few days. Naturally when QE3 is announced, gold will promptly leave $2000 in the rearview mirror.

And elsewhere, with the 200DMA support now history, the next support line, as we mentioned last week, is roughly 1252 which is now just 12 points away. After that... there is no support until about 1150.

 

[SpasticGramps]

Check out the High Frequency Trading quote stuffing. Computer algorithms going bananas.

Market is really melted down at the close today. Dow down -265, S&P lost 2.56% to 1254.

Gold is at $1656! Silver close to $41. Money in the bank!

Let's print some more money, but first the MSM must condition the sheep to accept their own destruction.

Fed May Weigh More Stimulus on Slow Recovery: Bloomberg

Federal Reserve policy makers may start weighing additional steps to prop up the recovery after growth fell below 1 percent in the first half of this year and economists began cutting second-half growth forecasts.
“At a minimum, the FOMC will have a serious debate about the policy options -- what they should do, and what they expect to get from it,” said Roberto Perli, a former associate director in the Fed’s Division of Monetary Affairs, referring to the Federal Open Market Committee. “Growth in the first half was dangerously close to zero,” said Perli, director of policy research at International Strategy & Investment Group.

 

[CascadeFarmer]

Market is really melted down at the close today. Dow down -265, S&P lost 2.56% to 1254.

I liked the closing action . I left a bunch of money on the table the other day but some today is better than none. No panic selling yet in the markets...maybe tomorrow but seems pretty soon.

I think gold is pricing in stuff already.

 

[iSMOKE.KUSH]

oh snap

 

[SpasticGramps]

I think this picture summarizes the day nicely.

 

[The iD]

hot damn, friday should be even more vicious when they drop a negative employment number and an anemic 1.0% GDP on the fire. many dont know, but they laid off between 50k-100k teachers this summer while they were on break, yet they have either not been informed yet, have been informed but cant file for unemployment due to technicalities, or havent been counted as "unemployed" since they technically get fired later this month/next month when they officially would return to their jobs to teach. look for the same @ the U.S. car manufacturers, and a lesser extent worldwide, as F, GM, DAI, etc., do not hire back the same number of employees from their "retooling" phase, as they have already stuffed the dealer channels to the brim, just like during the last great depression. perfect time for the house & senate to go on vacation, huh?

ERY, SQQQ, DPK, SPXU, AGQ, FAZ; all up 7%+. shorted the shit out of HLF when it was levitating @ +13%, she ended up shedding ~10% of that by close. im watching to open tomorrow lower and begin a retracement to finish even, but there is also a fair possibility that we shed another 1% or so as fins continue to take a hit, global economy recedes, and the dumb money gets the risk-off memo. if not a flat day tomorrow, then likely thurs when ill strengthen my bearish position. if not, ill let profits run, 3rd friday of this month is still a far ways away. sell the pop! STP! stay frosty,

-iD

Bullrider:

 

[SpasticGramps]

That bullrider is looking sweet!

QE3 looks like it may be QEx. Billy Boy is saying it's likely going to have and "inflation target" thus allowing for infinite easing. I'm afraid QE3 sounds terminal for the patient. It's that huge line of coke you do right before your heart stops.

Next Fed Easing to Include Inflation Target: Gross CNBC

The Federal Reserve likely will launch its next round of quantitative easing later this month with language that will set a specific target for inflation, Pimco's Bill Gross told CNBC.

With the economy faltering and stocks selling off aggressively, the central bank likely will have no choice but to announce more easing—QE3, in market parlance. [cnbc explains]

But the next round likely will look different than the first two, which focused on asset purchases such as Treasurys—as was the case with QE2—or an assortment of debt instruments, as with QE1.

Gross said the Fed could announce QE3 at its Jackson Hole, Wyo., summit scheduled for late August.

"We have a divided Fed so it's going to be difficult to re-enact the same form of QE2," said Gross, co-CEO of the largest bond fund manager in the world. "I don't think the Fed has a program in place to purchase Treasurys again. But what they do have in place now...is a program for the language which speaks to an extended period of time, which ties language to an extended period of time."

The Fed has a variety of weapons at its disposable—more asset purchases, cutting the interest paid on reserves in order to get banks to lend more aggressively, or to use language regarding the time frame for its zero interest rate policy.

Gross speculated the Fed will vow to keep its funds rate target at a maximum of 0.25 percent as long as inflation stays at 2.5 percent or less.

"If that's the case, then Treasury prices can rally from this point forward," he said.

But that puts the Fed in a precarious position as the dollar continues to lose value against the world's currencies and threatens runaway inflation.

"What the Fed has done with QE1 and QE2 and perhaps QE3 is basically support risk assets—stock prices and the like—by lowering interest rates, real interest rates in particular," Gross said. "So there is a limit in where they can go based on the strength and weakness of the dollar. The dollar cannot stand a continuing decline in interest rates because that leads to selling and currency pressure."

The dilemma is complicated by the need to do something to help the economy now that Washington is focused on debt reduction, which likely will hamper growth in the short term.

Gross said he is unimpressed by the new law passed raising the nation's $14.3 trillion debt ceiling, which he called "a 'Macbeth,' full of sound and fury and signifying nothing-type of event."

Bernanke is about to rub sand in Putin's eye.

 

[SpasticGramps]

Getting kind of nasty out there.

Europe on Brink of 'Major Financial Collapse': Guggenheim CIO CNBC

Europe is a "train wreck" and on the "brink of a major financial crisis," Scott Minerd, CIO of the fixed-income firm Guggenheim Partners, told CNBC Tuesday.

"The way Europe is operating right now, it's what I called recently 'cognitive dissonance,'" Minerd said, or "basically doing the same thing thinking they're going to get a different outcome."

"They keep throwing more and more liquidity at it thinking it's going to get better and it's not," he added. Europe fails to recognize that it has a "structural problem, not a liquidity problem."

There in lies the rub. The Keynesian Endpoint.

 

[PuReKnOwLeDgE]

hey guys? what is your prediction on gold? I feel like a dumbass not buying it when it was lower. Is it to late to get in?

 

[SpasticGramps]

I think there is going to be a pullback coming, but even right now I like it. It's going to rocket after the Jackson Hole meeting. Given what they are doing in DC currency destruction is the only possible outcome. IMO. And I'm pretty sure I'm right.

In the above article the CIO used my favorite word to describe our situation. I've used it a lot in this thread. Massive "cognitive dissonance" or "basically doing the same thing thinking they're going to get a different outcome." In drug rehab they call that being insane.

 

[bentom187]

i seen a news network show jim crammer thow all sorts of stage props even though it was less than 10 seconds of a fit, i LMFAO.

 

[CascadeFarmer]

ERY, SQQQ, DPK, SPXU, AGQ, FAZ; all up 7%+. shorted the shit out of HLF when it was levitating @ +13%, she ended up shedding ~10% of that by close.

I like the liquidity and minimal spread on the QQQ options. The only thing I trade now are QQQ calls/puts. Keeps me focused and makes life interesting.

hey guys? what is your prediction on gold? I feel like a dumbass not buying it when it was lower. Is it to late to get in?

You gonna ask a bunch of canna forum stoners that one? I don't deal with gold but think any expected US credit rating downgrade or QE3 enaction are getting priced in right now. Both are coming. By the time QE3 starts and/or the downgrade happens I'm GUESSING most of the potential move will have already happened.

 

[SpasticGramps]

i seen a news network show jim crammer thow all sorts of stage props even though it was less than 10 seconds of a fit, i LMFAO.

Oh did Cramer have another meltdown today? That clown's meltdowns are hilarious. I'm going to tune into him after Friday. I bet he has bad day.

 

[bentom187]

http://www.youtube.com/watch?v=GTQnarzmTOc