I HAD TO REPOST THIS, this is hilarious, just remember this is NOT from todays close, this is from JUNE 30th 2015, so the market was around 17800-18000, looks like he was just a bit off... Lee: This may be one of 'few buying opportunities' left Amanda Diaz | @CNBCDiaz Tuesday, 30 Jun 2015 | 6:00 AM ET This comes with a fancy video, just click link below! <iframe src="http://player.cnbc.com/p/gZWlPC/cnbc_global?playertype=synd&byGuid=3000392296&size=530_298" width="530" height="298" type="application/x-shockwave-flash" allowFullScreen="true" bgcolor="#131313"></iframe> Lee, whose bullish target on the S&P 500 of 2,325 is among the highest in the Street, insisted that this may be of one the "few buying opportunities" left on the year. "Bottom line, we think any weakness is short lived and we are buyers into year end," said Lee.
cnbc gets more pathetic by the second, they now have the DOW futures open up 100 points as a BREAKING NEWS THEME..... now cnbc has a breaking news headline: Dow futures open up 100 pts after historic rout CNBC.com staff | @CNBC 15 Mins Ago
QE 4 is being whispered on wall street, like I said forget about rate hikes the focus is now on propping up wall street. Market talk suddenly turns to specter of QE4 Jeff Cox | @JeffCoxCNBCcom 4 Hours Ago Market chatter about what the Federal Reserve's next steps will be suddenly has shifted from when it will raise rates to when it will offer more stimulus. Mind you, no one believes the U.S. central bank is about to start printing money again anytime soon. However, there is talk that faced with a slowing global economy and a domestic market dependent on cheap debt, it's only a matter of time before the spigots get turned on once more. "The Fed is not going to raise rates. They are at zero forever," said Peter Schiff, head of Euro Pacific Capital and one of the most well-known and impassioned of all the Wall Street Fed critics. "The Fed is not done with QE, they're just getting started. The Fed is doing QE4, QE5. This is a never-ending process." The "QE" reference, of course, is to quantitative easing, the bond-buying program that added about $3.7 trillion to the Fed's now-$4.5 trillion balance sheet since late 2008. Three rounds of QE, plus the balance sheet-neutral Operation Twist, have helped boost the stock market dramatically, with the S&P 500 rising more than 190 percent off the March 2009 lows. But the impact on the real economy has been less tangible. In addition to the previous rounds of QE, the Fed has kept its key interest rate near zero, holding down lending rates and keeping borrowing costs low for the $8 trillion in debt the government has added since the financial crisis. Getty Images Janet Yellen With no room to take rates lower, markets in near-free fall and worries building over a global recession, another round of easing would be the only monetary policy option left. Read MoreThe Fed rate hike speculation is getting crazy "I don't believe they're ever going to raise rates, because they can't do it," Schiff said. "People actually believe in the legitimacy of the U.S. recovery, they believe in the Fed's rhetoric. The truth is, everything has gotten worse. All the Fed did was blow a bigger bubble. All they did was interrupt the financial crisis." While unlikely to take any specific action in the near term, Fed officials could start leaving a trail of clues in upcoming public speeches. No time would be better, for instance, than the Aug. 27-29 retreat at Jackson Hole, Wyoming, the very site where then-Fed Chairman Ben Bernanke planted the seeds for QE2 back in 2010. "It's not about QE happening. If the perception of QE (happening) goes from zero to 18 percent, that's a huge impact," said Lawrence McDonald, head of U.S. macro strategy at Societe Generale. "Maybe even have one Fed governor, the most dovish of the doves, like (Minneapolis Fed President Narayana) Kocherlakota ... lay it out there. If one of them does it, look out." For now, the market's deliberations have focused on the timing of rate hikes, and the current verdict is that the first one since June 29, 2006, won't happen until January 2016. The CME's FedWatch indicator shows just a 24 percent chance of a move in September and a 49 percent chance in December. Read MoreFed may have just gotten a red light for rate hike Economist Michael Pento, founder of Pento Portfolio Strategies and a frequent Fed critic, said the central bank has work to do before it could take viable steps toward another round of QE. "For the Fed to go back to QE, there are two problems: First, they'd have to admit that everything they've done since 2008 has been a complete failure," Pento said. "Then, you have the problem that QE doesn't really affect fundamentals in the economy, it only affects asset prices." Indeed, a recent paper by Stephen D. Williamson, St. Louis Fed vice president, said there was no evidence that QE provided the economic help that its supporters touted. Read More'Forward guidance' didn't work, either Also, similar easing programs haven't done much elsewhere in the world. Japan's aggressive QE couldn't prevent a 0.4 percent contraction in second-quarter growth, while the euro zone is barely above water despite its own efforts, with just a 0.3 percent improvement in gross domestic product for the same period. "Sixty trillion dollars in debt and seven years of ZIRP later, anyone who thought this was going to be a smooth and easy transition to escape velocity is getting a rude awakening," Pento said. "That fantasy is shattering." Jeff CoxFinance Editor
LOOKS LIKE GARTMAN WAS WRONG ONCE AGIAN...this guy is ALWAYS ALWAYS ALWAYS wrong, just last week he told everyone to go long OIL and this is his statement today: Gartman: It was a mistake to go bullish on oil In light of the major declines in oil prices on Monday, Dennis Gartman, who shockingly turned bullish on the commodity last week, admitted that the call was a mistake and said he was shifting his position. "Clearly, I was not expecting to see 500 points on the Dow or 1,000 points off the opening, Gartman said in an interview on CNBC's "Fast Money," noting that oil prices had also fallen sharply overnight. "I had no choice but to say I'm wrong on being early… It was a clear mistake, a bad timing decision on my part. You have to go to the sidelines." On Friday—just two days after the author of "The Gartman Letter" Director: $20 oil wouldn't surprise me In a Friday note, he wrote, "For having been overtly and rather relentlessly ... and very publicly ... bearish, we are this morning turning bullish of crude oil, and we are turning so because the term structure shifts mandate that we do so." "We do not make this statement lightly for this is a material shift in our view of the energy market ... a very material shift," said Gartman, who is sometimes referred to as the "commodities king." The call took some by surprise since Gartman warned in March that oil could hit $15 a barrel by the year's end. U.S. light crude closed down $2.21, or 5.5 percent, at $38.24 a barrel, which was the lowest since February 2009. Steep losses last week capped the contract's longest weekly losing streak since 1986. Brent crude was trading down $2.70, or about 6 percent, at $42.80 a barrel, after hitting a session low of $42.51, its weakest since March 11, 2009.
Futures up large right now, I thought the opening of Japan would drop them back into the red but they only powered up even more....tomorrow could bring a 300-400 point dow rally
In YM execute a 50 lot order you can move the market 20 points, there is no one daring to set foot in this casino. I just saw 16 one lot orders move it 7 points. Here is the time and sales. Execute a 100 lot order you can push in 40-50 points....No liquidity.....this is scary, like kommiser said a penny stock.
I won't touch YM or NQ right now. Even ES is kinda hokey. It's almost like a ton of bot liquidity just got turned off - which is strange because you'd think there'd be more of it right now. Maybe I'm sinply overestimating the bot to human ratio in the book.