"This Will Settle The Market Psychology" in [Market-Ticker]

Posted 2011-08-25 10:05
by Karl Denninger
in Market Musings

"This Will Settle The Market Psychology"

Such was the claim on CNBS just a few minutes ago.

Anyone care to argue with the tape?

Buffett sticksaves during the 2008 time period used to last a day or two.

This one lasted less than 30 minutes; the market has now lost two point four percent in an hour, and is continuing to dive as I write this.

Discussion below (registration required to post)

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User Info	"This Will Settle The Market Psychology" in forum [Market-Ticker]
Drench Posts: 28631 Incept: 2009-11-10	Must get positive spin from Cramer before he boards... 2011-08-25 10:07:56 Permalink
Drench Posts: 28631 Incept: 2009-11-10	"Apple is only down six bucks" rally? 2011-08-25 10:08:51 Permalink
Kylafoon Posts: 2472 Incept: 2009-02-05 Zombie Portal Lookout	Could be true that "smart money" runs in when "dumb money" runs away... We pulled all of our savings and 90% of our checking balance out of BOFA last week. Call me dumb. But, going the opposite direction of Uncle Warren is right for us... ---------- "...But whenever we see things done wildly, but taken tamely, then the State is growing insane..." - Gilbert Keith Chesterton 1910 "I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 2011-08-25 10:13:12 Permalink
Hogman Posts: 7887 Incept: 2008-02-18 Derby City, USA	Kind of an interesting read http://slopeofhope.com/page/2/ 2011-08-25 10:14:50 Permalink
Hogman Posts: 7887 Incept: 2008-02-18 Derby City, USA	Tim Knight wrote.. The charts that I'm closely following fall into two broad camps - - one smallish camp are those that seem appropriate to short right now (and, thus, I am short them); another large camp are stocks which have a long way to run before they are safe to short. That gives me a muddy picture, since it either means the market is going to start falling again next week, and the beaten-down stocks are simply going to get uber-beat-down; or the market is going to rise, which means the shorts I have now are totally premature. The two sectors that I am seeing the most potential for weakness right now are Real Estate and Energy. The sector that seems to have to most room to run higher is Financials. I will say this, however: no matter what happens with Dr. Bernanke, my faith in a ferocious bear market in the coming months is stronger than it has ever been. I think it is simply impossible for 2012 to pass us by without a devastating worldwide economic calamity. The only thing I don't know is whether it is right in front of us or if we have to suffer a QE3 rise in order to partake. This uncertainty compels me to remain cautious for now. Thus ends my ramble. Thanks for your patience with me. 2011-08-25 10:18:49 Permalink
Digitlman Posts: 351 Incept: 2011-03-04	Who the **** listens to CNBC anymore, anyway? 2011-08-25 10:23:56 Permalink
Eighty6thebs Posts: 4212 Incept: 2007-06-26 It's contained to sub-prime!	+ 1 Digi. Turned it off years ago and I've never missed it. ---------- "Sounds to me like you guys a couple of bookies" - Billy Ray Valentine "No I am not scared, and neither should you be!" - Iraqi Information Minister 2011-08-25 10:27:19 Permalink
Kiber Posts: 1204 Incept: 2010-06-25	the oracle is going down this time...his bull **** is worth nothing these days...many have lost all respect for this seasoned insider... 2011-08-25 10:34:41 Permalink
Mortgageguymn Posts: 1584 Incept: 2009-03-09 North Coast	Bernanke/Geithner/Obama could specifically help BOA, in part to maintain the Bezzle, in part to thank Buffett for calling for higher taxes. He's basically part of the Obama administration, as far as I can tell. Him & Immelt. 2011-08-25 10:37:01 Permalink
Aztrader Posts: 6658 Incept: 2007-09-10 Scottsdale, AZ	Nothing like a major short squeeze to bolter the BS............. 2011-08-25 10:37:18 Permalink
Xanares Posts: 2595 Incept: 2008-11-10 Between Sicily and Tunisia	That Buffett had to do this shows us exactly where we are. Back in 2008. 2011-08-25 10:39:11 Permalink
Inkt2002 Posts: 99 Incept: 2009-07-15	Buffett talks to Obama 2 days ago. Bernanke speech tomorrow. Does anyone find the timing of this smell really bad, or is it just me? 2011-08-25 10:42:55 Permalink
Eighty6thebs Posts: 4212 Incept: 2007-06-26 It's contained to sub-prime!	Yup. BAC about to go off a cliff and .gov has no idea how to handle it. Obama calls Buffet and gives him some promise to protect him against losses if he would use his name to buy a stake in BAC to improve confidence. All points to a much more serious issue no one knows how to resolve. ---------- "Sounds to me like you guys a couple of bookies" - Billy Ray Valentine "No I am not scared, and neither should you be!" - Iraqi Information Minister 2011-08-25 10:43:42 Permalink
Kiber Posts: 1204 Incept: 2010-06-25	Yeah ...send out the clown first...old geeezer is not as sharp as he used to be...i think he loses is all...wait...he will get bailed out first... 2011-08-25 10:44:49 Permalink
Aztrader Posts: 6658 Incept: 2007-09-10 Scottsdale, AZ	Maybe Buffet got a guarantee on his investment. We never know what is going on in the back room anymore. Bailouts and govt guarantees are everywhere, except on paper where the people can see them............. 2011-08-25 10:45:06 Permalink
Hogman Posts: 7887 Incept: 2008-02-18 Derby City, USA	I agree Az A 5 billion whatever does not take place on a whim 2011-08-25 10:54:34 Permalink
Mortgageguymn Posts: 1584 Incept: 2009-03-09 North Coast	Buffett is as honorable as Steve Jobs. 2011-08-25 10:56:43 Permalink
Murf Posts: 4486 Incept: 2007-08-28 MurfCon Warning Level: Arrogance II	well, this puts the lie to all the pump monkeys we saw last week and monday telling us BAC had no need of capital. If possible, CNBS has lost even more cred as has the management of BAC and various talking heads. Looks like the market loves the opportunity to short this pig from nine dollars. ---------- The money has already been lost. Someone has to book it. 2011-08-25 10:59:14 Permalink
Mattytrader Posts: 40 Incept: 2010-08-18 NY/NJ	but..butttttt... i thought they didnt need any money????? I sure hope the bank fails and he loses it all... and the backroom dealing BS is brought to the forefront... it needs to stop 2011-08-25 11:10:05 Permalink
Etz Posts: 13923 Incept: 2007-06-26 LA Online	Uncle fraud will get all those puts he sold shoved up his butt. ---------- Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora. 2011-08-25 11:10:51 Permalink
Myopia Posts: 83 Incept: 2010-09-16	Didn't he also save Goldman Sachs a while back. LoL. 2011-08-25 11:46:30 Permalink
Eighty6thebs Posts: 4212 Incept: 2007-06-26 It's contained to sub-prime!	It's pretty much the same deal as the GS one. Bove, Cramer, Buffett - we now have a full on pump attempt underway for bank stocks. Wonder why Buffet would want to save bank stocks? Owe ***...he's the largest stock holder in Wells Fargo and just bought a bunch more recently. Now it makes sense... ---------- "Sounds to me like you guys a couple of bookies" - Billy Ray Valentine "No I am not scared, and neither should you be!" - Iraqi Information Minister 2011-08-25 11:50:29 Permalink*
Murf Posts: 4486 Incept: 2007-08-28 MurfCon Warning Level: Arrogance II	yeah, except XLF is red ---------- The money has already been lost. Someone has to book it. 2011-08-25 12:35:52 Permalink
Jstanley01 Posts: 8282 Incept: 2008-07-30 San Antonio, Texas	On the eve of what's turning into an ever-more-important speech, I'd say it's about time for a phone call from the 'Bamster to the Bernank. Ain't it (lol)? ---------- You can't cheat an honest man. ~P.T. Barnum 2011-08-25 15:39:59 Permalink

Tim Knight wrote..