Am I the only one excited? Ready to go? The Greek elections are too close to call, but absolutely nothing indicates in any way any need for 'coordinated action' from central bankers, or any additional money printing. Nothing whatsoever, in my opinion. But, and here's the rub, the insane part: the market is expecting the printing.

Now, if they don't get it, the market would be inclined to go down. This would be 'disorderly', not in that it would be truly chaotic i.e. big selling, just a small decline of say a few points, and anything considered 'disorderly' justifies more money printing. So, I suspect we'll have some printing anyway, now that they announced it 'if necessary', and the market going down if they don't get it would make it 'necessary'. See the insanity of all this?

So, I expect a big pop on that announcement. In reality, this is set up as the mother of all 'sell the news' events, especially after that crazy pop into the close and good-sized additional run up in the SPY after the futures close. We shall see soon enough.

Gold sure did sell off that TL I posted...

One thing I will say, I've never seen so many people so sure of anything in my life. The expectations are 1,000% that the Qwack will do a massive money print announcement. If he disappoints...

Gold hasn't been agreeing with the money printing assumption. We'll see, though.

Notice the ES ABCD as we get ready for the big event.

Nothing to count on, but I think the Qwack will only announce what he will do if certain things happen. The market may drop significantly, but not before sweeping all upside stops. Just a hunch, and probably not a very good one...

Gold is going straight up now, before the announcement. Hmmmm.

Some printing? This should now reverse up for awhile.

Once they digest this I can't see how they don't hammer this.

Okay, there's the reversal up, just for now I think.

They mentioned something like $267 billion for buying treasuries it sounded like in addition to extending 'Operation Twist', but it doesn't sound like new printing, maybe that much for twisting? That means essentially no new printing. The market has to sell hard on that, I believe.

Originally posted by jimkane

Some printing? This should now reverse up for awhile.