Friday, November 12, 2010

"Who Moved My POMO?" - Fed Operations Moved Out 75 Minutes as Speculators Panic 10:15 Heroin Hit Missing

A kind reader informed me due to a technical glitch (source: The Zero Hedge University) POMO was moved out from its normal 10:15 AM to 11:30 AM today.  You can see the panic that incited in the market when the druggie showed up to his dealer and the dealer said "I don't got any!".  But it's all better now, heroin is being put into our veins as we speak.  Whew... I had the shakes for those 75 minutes.

For those of you around a long time watching markets, the intraday chart is .... well just hilarious, frankly.  You can see the front running of POMO around the 10:15 AM mark, and then when it was not there... the panic.  The market is about P/E ratios, growth rates, company prospects and the like right? haha.

Illustration of intraday S&P 500 chart with sophisticated comments - click below

(I still contend this POMO thing is getting long in the tooth as a reason to buy, but today's intraday chart illustrates to me how dependent people are on the thesis now)

I now return you back to your normally scheduled managed market.   If sellers can't take control, the powers that be will get this index back over the 13 day moving average by the end of day.... boo yah.  What a market - completely dominated by a 3rd party source.  Viva la free market.


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