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Tomorrow morning should be interesting.
Category: Markets
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Estoy corto. Yo estoy jodido!
gh
Come se dice:
Pump & dump
Is this Spain’s ‘El Cid’ moment (i.e. the war is lost but the battle is won so…yeah!!! S&P 1450 here we come!)?
“After his demise, but still during the siege of Valencia, legend holds that Jimena ordered that the corpse of El Cid be fitted with his armor and set atop his horse Babieca, to bolster the morale of his troops. In several variations of the story, the dead Rodrigo and his knights win a thundering charge against Valencia’s besiegers, resulting in a war-is-lost-but-battle-is-won catharsis for generations of Christian Spaniards to follow. It is believed that the legend originated shortly after Jimena entered Burgos, and that it is derived from the manner in which Jimena’s procession rode into Burgos, i.e. alongside her deceased husband.[4]” Wikipedia
Fool me twice…
arriba, arriba!
I believe this is best described as the “Champagne Party” part of the Einhorn Euro Crisis Cycle.
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/06/Einhorn%20chart.jpg
Rallejo, like the bankrupt CA city, but with an ‘R’
Smells like a good opportunity to lighten-up on equities you’re not in love with for the long haul. Rally may last another week or two, but not seeing this as the start of a cyclical bull market. Probably a classic bear trap set-up.
Another bold move on the road to …?
Uno tiene que ser jilipoyas investiendo con la idea de que Espana se salvo…pero que estais fumando?
Who the hell is still in this market? The EU is toast and there is no QE to the nth degree? Wall Street is like a totally strung out heroin addict man…it’s rehab or death at this point.
Been there, done that . . . it will not last. Important Greek election coming up that will turn the markets very tentative. And, of course, there’s Italy:
Italy Moves Into Debt-Crisis Crosshairs After Spain
http://goo.gl/oGZqW
100% negative outlook by commentators on this site and every other one I’ve read… tells you exactly where the stock market is headed over the next 3+ months: higher.
It appears that the only valuation measure that counts for stocks now is Central Bank easing and bail-outs.
Has this ever ended well before?
A little long (LULU, CRM). Short VXX has been a great trade for a week.
@stonedwino: I generally agree with your viewpoint, but for a short-term trade, hard to beat playing names on the NYSE or NASDAQ — you can short ‘em or long ‘em, but unless you’re playing the ponies or the pooches, show me where else you will find a more lucrative return?
Is this gonna be a mirror image of last sunday/monday? Reversal?
@WallStreetRanter: I’m no professional prognosticator (I leave that to Barry & Josh) but I think the conventional wisdom is we’ll see a continuation of the oversold condition on the SPX and NYSE with an added ‘relief rally’ kicker from the Spain “rescue”, but I’m looking at it as a short-term play. In other words, be fleet of foot, enter and hold at your own risk.
1. Where will the monet come from?
2.Presumablt Greece will now vote in favour of NO austerity because Spain will get a direct Bank bailout without Spanish Government austerity programmes?
3. Ireland has, apparently, already asked for a revision of its bailout to be consistent with Spain. Portugal next, of course.
This is B/S. Sell on the rally.
1. Where will the monet come from?
2.Presumablt Greece will now vote in favour of NO austerity because Spain will get a direct Bank bailout without Spanish Government austerity programmes?
3. Ireland has, apparently, already asked for a revision of its bailout to be consistent with Spain. Portugal next, of course.
4. Next comes Italy? No money left in ESFS.
Sell on the rally (Await moderation)
Lemmings to the sea?
Presidential election year.
End of Q2, and first half of the year, on the horizon.
Options week.
Hold nose and wander in to the funky disco, keeping the exit door in sight at all times!
As the cacophony of negativism grows, the possibility of the bounce off SPX MA(200) continuing grows stronger IMO. SPX 1550 here we come? That is where the rising wedge from the 2009 bottom leads!
Stranger things have happened (and failed eventually of course).
philipat Says: Where will the monet come from?
From the Louvre of course, should the French become desperate enough for collateral.
It seems as though the rally in Spanish government bonds failed to even last the morning! Take a look at this.
“As the europhoria dips we see the ten-year bond yield in #Spain up on the day at 6.45%. Why is explained here. http://www.mindfulmoney.co.uk/wp/shaun-richards/spains-victory-is-in-fact-a-defeat-and-the-worst-is-yet-to-come/ #euro
So if bond yields are rising sharply again and prices falling how long can the equity rally be sustained?
pinata
[...] evening, the Futures were up 17 points, Dow up 144 at the peak (about [...]