[Regulator]

The long slide back to value...

[blam]

This Could Be Very Bad News Ahead Of China's Open Tonight

Earlier today we explained why far from supporting the stock market, all the Chinese RRR cut did was offset already used funds to support currency intervention following the August 11 devaluation: the one sentence from SocGen that put it in perspective was tthe following: "In perspective, the PBoC may have sold more official FX reserves than this amount since the currency regime change on 11 August."

Hence, the RRR cut was a retroactive move, not at all proactive as the market's initial euphoria indicated.

Which, ahead of China's close tonight, could be very bad news for those hoping for a rebound in China's Shanghai Composite which as a reminder closed below 3000 for the first time since its bubble runup which started last July.

[broken_arrow1]

Dead cat flop.

[SoFloFreeper]

But the media kept telling us Obama was giving us GREEN SHOOTS and we were in the SUMMER OF RECOVERY!!!

[MichaelCorleone]

I’m long in certain areas for a short 1-2 week reversion to the mean before the bottom falls out.

Although my shorts remain - just in case.

[VanDeKoik]

I’m sorry to laugh, but after hearing all of those stocks guys crowing about how yesterday was just a nothing slump and that it would be all back to normal today, and that it’s “bargain hunting” time, this was a hoot to see.

[VRW Conspirator]

Is it the end of the world yet?

[Uncle Miltie]

Cool. Switching 3% of my portfolio from cash to stocks, as of close of business prices.

Come on baby. Give me another -5%! I’ve got dry powder (~22%), and I need more buying opportunities!

[The South Texan]

I’m sure the Diaper Wetters at BI are concerned about how this looks on their guy in the White House. After all BI spent all of 2012 trying to give the same guy credit for the market uptick while scolding those who suggested the whole market was a house of card built on sand. It’s only shocking it took this long to get here, but here we are.

[ReaganGeneration2]

Analysts were crowing this morning that the “rally” was due to the Chicoms lowering interest rates.

THAT’s all we got to grow with now?

[ponygirl]

I was reading an article earlier today about how the rural midwestern areas are being depleted of people, particularly the coal and timber counties. Some coal counties are down 38% in population and they’re all concerned about tax revenue. And they blamed the crash in coal on an increase in fracking. You just have to laugh.

[ConstantSkeptic]

Hmmm... maybe time for some tax loss harvesting.

I only have one taxable account fund with a loss, but I could sell that and put the money into a similar, but different fund. That loss would help offset the large capital gain I had earlier this year.

Opportunities!

[TalBlack]

I know zilch about the street but when a stock dives to a low early in the morning and closes 10 dollars higher then the gamblers are going to play until they get creamed or tired of making money. On Monday I was listening to the radio wishing I had a 100 grand I didn’t care about.

[SkyPilot]

Rich Barry, floor governor at The New York Stock Exchange, wrote in an afternoon email to Business Insider that Tuesday's afternoon rally was about two things: China and Goldman Sachs. After Chinese markets closed on Tuesday, the People's Bank of China, China's central bank, moved to cut interest rates and reserve requirements, giving a final boost to stock futures that had already been gaining overnight. Goldman Sachs, meanwhile, circulated a note to clients reiterating the firm's call that the US does not appear headed for recession. But again, these gains couldn't hold.

This is what is so infuriating.

Goldmach Sachs spams traders with an e-mail that says everything in ObamaLand is hunky dory, and that is supposed to turn the Titanic around?

Give.

Me.

A.

Break.

Goldman Sachs might as well be the Obama/Clinton/DNC headquarters building.

These are the same robots that lead us into this bubble. And everytime Obama's BLS liars put out ficiticious "jobs reports" that told us that hundreds of thousands of new "jobs were just created", the market reacted with slavish devotion and wet kisses.