Afternoon Delight 10/04/11 - Rumor Driven!

I'm not going there. I'll let Soup do all the moaning and groaning below in the comments section. Ridiculous? Nope, waaaaaaay beyond ridiculous. Hey, we're used to it. Desperate times require desperate measures. When QE and the Bernank can't buy the markets up you resort to dirty tricks and any source of stimulus possible.

As I have been telling you literally for years now, this market is all they have between them and basically anarchy. They will do whatever it takes to salvage it. Like a mother lion protecting her young, expect a fight to the death. Sadly death is what we're gonna get either way. Looks like the time has come to start scalping the patented 2008 3:00 mega ramps to the close.

If you think there is any reason to get long after reading the below - be my guest - This post is gonna get really busy - so stick with me - Don't forget to duck and cover when you see the flash.

Morning Post 10/04/11, SPX, AUD, EUR, JPY, Gold, Oil, USD

"Overnight saw credit markets crushed overseas in Australia and Asia,
Europe continue to sink into the abyss and now pre-market equities in
the US are showing serious weakness with no sign of a bounce." FINal(er) Countdown | ZeroHedge

I'm not sure how long I have been telling you i is all about EU liquidity, but it has been a while. Nothing works without lubrication. Friction is bad. European Liquidity Update: Horrible And Getting Worse | ZeroHedge

I do not know about you, but I think there will be a tradeable event at 10:00 when Helicopter Ben speaks. I HIGHLY suggest you watch this - Bernanke Testifies To The Joint Economic Committee; And The Balance Of D.C. Theater For The Week | ZeroHedge

Afternoon Delight - The "Duck and Cover" Edition

Quite the day in the markets. That early head fake threw a few off the scent, but it was pretty easy to pick back up after the minis ran into double resistance and reversed course. Bottom line is we're so close to collapse I'm inclined to think the majority have moved to the denial stage. This is a move I even experience, you know it is coming, you have called it, it is painfully obvious, but as it nears and when the signs are the greatest you withdraw. Call it a protection mode or whatever psychological term you like. It might be time to learn how to duck and cover.

Morning Post 10/03/11, SPX

Well, it is the season for miraculous comebacks? The NFL and NCAA had some big time rallies this weekend. Can the markets pull one off here? We all know the markets are rigged and have the officials in their pocket, so it may not be a fair game. The new POMO schedule is out. and I suggest you take a look at it here - Tentative Outright Treasury Operation Schedule - Federal Reserve Bank of New York.

News was hot and heavy over the weekend. STB loves it when the "experts" come in several months behind where we are with prognostications and confirm our long standing views. "My secular view remains bearish. In or within a year from now I expect global equities to be 25% to 30% lower. My S&P500 target for the low in 2012 remains 800/900, and I think an 'undershoot' into the 700s is entirely possible." Bob Janjuah: "In One Year I Expect Global Equities To Be 25%/30% Lower; The S&P Will Reach Low 1000s In October" | ZeroHedge

Open Weekend Post - 10/01/11, TLT, USB, SPX

Share the love and the knowledge (before the markets collapse and while we still have a free unencumbered internet). Lurkers, come on out and enjoy the fun.

See the new poll question to the right ======>

Watch this and listen carefully. George had it right years ago. This man was way ahead of his time and he understood what was happening 100%.

George Carlin Bankers - YouTube (h/t Soup and WB7)