Morning Audibles 8.31.10 - No Matter What - We Get Out of This...

You didn't have to wait until this morning to get this... You could have had it last night if you were paying attention...

(from ZH)


"EURCHF has just taken out all stops as it plunged by almost 60 pips in the span of a few minutes as Japan opens... Which opened about 2% down... Which goes to show just the idiocy levels of our markets - there was nothing incremental from last night's BoJ decision, so the Nikkei should have been dropping then. But instead it decided to trade way higher and only plunge once Made In New York Atari algos told it it was safe to plunge.

Either way, set your alarm clocks to around 5 am, which is when the SNB tends to intervene most often, and have those upside EURCHF stops ready, as the pair is wound so tight it is just waiting for the Hildebrand match: the (very temporary) bounce, which will cost the SNB another CHF10 billion will likely send the CHF about 150-200 pips lower, only to retrace all losses imminently."

In any case... It's not NOTHING... But amongst Hindenburg Omens, Cardinal Crosses, Death Crosses, 200MA tickdowns, PPT "open market" activity... It's just AMAZING to me how this RASPUTIN of a market manages to skip along in it's "DL" like state of calm, and even (as was the case this past weekend), manage to convince bears that they should be COVERING and COWERING in the corner...


This is TWO DAYS IN A ROW that CV is featuring "Deep Purple" on this blog... Frankly, I hadn't expected to do so yesterday... But Monday  (and, in fact, THIS WHOLE SUMMER has got me wondering)... Which is... Frankly... a state I've been in for more than 18 months... But delay after delay beats even a resolute soul down... After all, CV doesn't enjoy the luxury of vacationing & "kickin' it with the lap dogs" as others seem to have mastered the art of...


My retort to the tourists & lapdoggers of the world...

We all came out to Montreux...

On the Lake Geneva shoreline...

To make records with a mobile

We didn't have much time...

Frank Zappa and the Mothers...

Were at the best place around...

But some stupid with a flare gun

Burned the place to the ground...

Smoke on the water, a fire in the sky... Smoke on the water...

They burned down the gamblin' house,

It died with an awful sound...

And Funky Claude was running in and out

Pulling kids out the ground...

When it all was over

We had to find another place...

But Swiss time was running out

It seemed that we would lose the race...

Smoke on the water, a fire in the sky, Smoke on the water...

We ended up at the Grand Hotel

It was empty cold and bare...

But with the Rolling truck Stones thing just outside

Making our music there...

With a few red lights and a few old beds

W

e made a place to sweat...

No matter what we get out of this...

I know, I know we'll never forget...

Smoke on the water, a fire in the sky... Smoke on the water...