Fedline Open Thread

Thursday, September 13, 2012 at 12:22 pm

Have at it. I'll have a full, new post soon.

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Comments

Hopefully the current move is

Submitted by tmosley on September 13, 2012 - 12:26pm.

Hopefully the current move is a headfake...

I don't really want the hat this time.

Silver!

Submitted by Silver Alert on September 13, 2012 - 12:27pm.

Finally got all three! Site seems really slow today. Must be a lot of interest for some reason. /sarc.

BAM!

Submitted by Istack on September 13, 2012 - 12:27pm.

shwing!!!

Oops

Submitted by Istack on September 13, 2012 - 12:27pm.

delete

Doh!

Submitted by Istack on September 13, 2012 - 12:28pm.

delete

Leak?

Submitted by AC_Doctor on September 13, 2012 - 12:28pm.

Info already leaked-duhhhhh!!!

Head fake?

Submitted by DrkPurpleHaze on September 13, 2012 - 12:30pm.

Just catching up and saw the knife but expecting a yo-yo shortly.

Haven't even seen the news yet....browser problems....

(edit: Tmo...just saw your comment....if it was it was a beauty)

QE3 announced!

Submitted by Dr G on September 13, 2012 - 12:32pm.

QE3 announced!

wow

Submitted by Dr Jerome on September 13, 2012 - 12:33pm.

turn my back for 1 minute--literall--while I decide to buy the dip and look what hapepns: +.80.

guess I'll just hang on

YIPPEE!!!!! YEEEEEEEHAAAAAAAA

Submitted by Turd Ferguson on September 13, 2012 - 12:33pm.

MODERATOR

YIPPEE!!!!!

YEEEEEEEHAAAAAAAA!!!!!

Turd's servers might just

Submitted by tmosley on September 13, 2012 - 12:33pm.

Turd's servers might just melt today.

Also, I don't think this was a leak--the move isn't strong enough.

FOMC ANNOUNCES........

Submitted by Hillsie on September 13, 2012 - 12:34pm.

*FED TO KEEP POLICY STIMULATIVE FOR `CONSIDERABLE TIME'

*FED WILL ADD TO PURCHASES IF LABOR MARKET DOESN'T IMPROVE

*FED DOES NOT SAY WHEN MBS PURCHASE PROGRAM TO END

*FED TO BUY $40B MBS MONTHLY, CONTINUE `OPERATION TWIST'

*FED TO BUY MBS, EXTENDS ZERO-RATE POLICY INTO 2015

There you go folks. Straight

Submitted by Dr G on September 13, 2012 - 12:34pm.

There you go folks. Straight up to the moon.

And I nailed the FOMC portion. QE that is open-ended.

SIT TIGHT NOW

Submitted by Turd Ferguson on September 13, 2012 - 12:34pm.

MODERATOR

This will extend. Be patient.

Greece

Submitted by FlorisM on September 13, 2012 - 12:35pm.

Yep, going for the third rescue pack

Its rare that I am so happy

Submitted by tmosley on September 13, 2012 - 12:35pm.

Its rare that I am so happy to be dead ass wrong.

Kcap: "the rising sun...."

Submitted by Kcap on September 13, 2012 - 12:37pm.

"....will not set this evening".

Life is good.

Kcap

This just in...

Submitted by pforth on September 13, 2012 - 12:39pm.

Bernanke announces $40b of printed money per month. Of which $5 billion will go to naked short PM positions :)

i got filled!

Submitted by Air Garcia on September 13, 2012 - 12:40pm.

on a march 34 and a march 35!!! down Low!

Very...

Submitted by LaMachinna on September 13, 2012 - 12:40pm.

interesting! The bipolarness of it all

QE3 : MBS $500,000,000,000 a year

Submitted by DrkPurpleHaze on September 13, 2012 - 12:40pm.

MARKET PULSE Archives

Sept. 13, 2012, 12:31 p.m. EDT

New York Fed details QE3 bond purchase plan

By Steve Goldstein

WASHINGTON (MarketWatch) -- The New York Fed said it will start buying agency mortgage-backed securities on Friday, at a rate that is expected to total $23 billion over the remainder of September. It will then purchase securities at a clip of $40 billion each month. The New York Fed said it will concentrate its purchases in newly-issued agency MBS in the to-be-announced market, although it may purchase other agency MBS if market conditions warrant.

http://www.marketwatch.com/story/new-york-fed-details-qe3-bond-purchase-plan-2012-09-13?link=MW_home_latest_news

Your money shot

Submitted by Turd Ferguson on September 13, 2012 - 12:40pm.

MODERATOR

*FED WILL ADD TO PURCHASES IF LABOR MARKET DOESN'T IMPROVE

Dr G! Good call! I hat tipped

Submitted by Jan Roos on September 13, 2012 - 12:40pm.

Dr G! Good call! I hat tipped you when you made the call before the meeting and you nailed it.

Awesome and Welcome back

Wow

Submitted by Dimeboy on September 13, 2012 - 12:42pm.

$1 up move in Ag in a couple of minutes.....

Wait until the press conf in

Submitted by Dr G on September 13, 2012 - 12:42pm.

Wait until the press conf in 1.5 hours. That sends it even higher. Markets are stupid like that.

The problem with this round of QE is there is no closing date, so every FOMC meeting gold and silver buyers will be waiting to see if they keep extending the purchases.

I'm thinking the next few minutes...

Submitted by Puck T. Smith on September 13, 2012 - 12:43pm.

...are going to have the charts looking like someone on a defibrillator.

He's dead... no, wait, he's alive! ...er, no, he's dead. Clear! bzzt. He's alive! No, wait...

Repeat as needed.

Re: Sit tight now

Submitted by Pining 4 the Fjords on September 13, 2012 - 12:43pm.

Turd- what are the dynamics behind a delayed move up, if you have the time to explain?

I ask because I am shocked this didn't even make yesterday's highs on the initial move... and it is now pulling back. Are traders and managed money really that slow on the draw? I would just expect that this would have been stronger, is all...

70 cent move

Submitted by Hrunner on September 13, 2012 - 12:43pm.

It's not every day you see a one-minute $0.70 move

@Pining, they have to analyze

Submitted by Dr G on September 13, 2012 - 12:45pm.

@Pining, they have to analyze it. This is how it goes. Go back and look at the charts on the day QE1 and QE2 were announced. Same thing. Steady moves that continue over a period of days.

Also note that it gets a nice big second wind when Bernank actually speaks later this afternoon. That is the money shot in my book.