• Pivotfarm
    05/30/2015 - 08:32
    Warren Buffet isn’t one of the richest men in the world with the flair for making a fast buck or two for nothing.

Volatility

Tyler Durden's picture

Wedges And Triangles: Big Move Ahead?





The central bank high is euphoric, the crash and burn equally epic. Be careful what monkey you invite to latch onto your back...

 
Tyler Durden's picture

Asian Euphoria Sends Nikkei Above 20,000, Fizzles In Europe On More Greek Fears; US Futures Down





Whether it is in sympathy with the now relentless surge in the Shanghai Composite which tacked on another 2.44% overnight to close at a fresh multi-year high just shy of 4400, well more than double from a year ago, or because Mrs Watanabe was unable to read the latest Japan trade data whose first trade surplus in 3 years hinted that there will be no new easing by the BOJ any time soon, but overnight the Nikkei closed above 20,000 for the first time in 15 years, with "makers of chocolate, mayonnaise, potato chips and household appliances" helping lift the Tokyo market according to the WSJ. The now daily Asian euphoria however did not last long in the European session, and after opening higher, the Stoxx Europe 600 slipped into negative territory just an hour into trading, and was down 0.4% by midmorning, lead by a near 1% decline on Athens' mains stock index, which has since recouped losses stemming from the overnight report that the ECB is considering an up to 50% haircut on Greek bank collateral, a move that would wipe out the Greek financial sector with ease.

 
Tyler Durden's picture

Well That Hasn't Happened Before - Exhibit 4





We have never, ever, seen equity market breadth diverge from equity market performance for such an extended period...

 
Tyler Durden's picture

Full Scapegoat Retard: Trader Arrested For 2010 Flash Crash





  • FUTURES TRADER ARRESTED FOR ALLEGED ROLE IN 2010 FLASH CRASH
  • FUTURES TRADER CHARGED WITH ILLEGALLY MANIPULATING STOCK MKT
  • SARAO HAS BEEN CHARGED WITH COMMODITIES, WIRE FRAUD: GOELMAN
  • SARAO WAS ARRESTED AT HIS HOME IN LONDON TODAY, GOELMAN SAYS
  • CFTC FILES CIVIL CASE AGAINST NAVINDER SINGH SARAO
 
Tyler Durden's picture

There Still Are Some Retail Investors Left: This Is What They Are Buying





What do retail investors do on volatile days like Friday’s jolt lower on the S&P 500? Thanks to one very large online broker’s publicly available order flow, we now know...

 
Tyler Durden's picture

This Technical Signaled The Last Two Market Crashes And It Just Happened





So the fundamental case for a 20-year bull run as BMO is calling for and certainly many other banks seem to be onboard with that is not looking great YTD.  In fact, most perma bulls have shy’d away from even mentioning fundamentals other than to say that generally they aren’t looking great but don’t worry the Fed is still engaged.   And so we feel its a worthwhile exercise to have a look at the technicals.

 
Tyler Durden's picture

One Last Look At The Real Economy Before It Implodes - Part 5





The endgame has indeed arrived. At the very least, the international elites seem to think success is within their grasp, for they now openly expose their own criminality. But they do so in a way that attempts to divert blame or to rationalize their actions as being for the "greater good." All signs and evidence point to what the IMF calls the "great global economic reset.”" The plans for this reset do not include U.S. prosperity or a thriving dollar.

 
Reggie Middleton's picture

The Pop Media Is In Love With Goldman Again, Probably Because They Don't Read The Fine Print





Surprise! Surprise! Five years ago I said the only way Goldman would ever break $200 again was to ratchet up risk. Guess who broke $200 this morning. Better yet, guess how they did it! Every financial rag and business blog should read this BEFORE writing another word about GS blowout earnings!

 
Tyler Durden's picture

The World Has Gone Mad - Fed's Lacker Edition





During a Q&A this evening, Richmond Fed's Jeffrey Lacker unleashed a stream of what can only be described as total idiocy:

*LACKER: INDICATORS POINT TO NEED TO RAISE RATES THIS YEAR (US macro data is the worst since Lehman?)
*LACKER: I'M UNDETERRED BY RECENT WEAKNESS IN DATA, "CAN'T GO ON FOREVER" (Hope is a strategy?)
*LACKER: DON'T EXPECT UNUSUAL MARKET VOLATILITY AROUND RATE RISE (because the Taper Tantrum went well?)

These are the people that the world trusts to centrally plan the world? The people that are there to 'save' investors at the merest downtick in stocks? They seriously have no clue whatsoever!!

 
Tyler Durden's picture

"Crude Cheap, Gold Fair, Stocks Rich"





Gold, crude oil and U.S. equities are dollar denominated, are notional inflation hedges, and have reliable long term price records. Two anomalies pop out in the relative value across this threesome...

 
Tyler Durden's picture

ECB Preview: Draghi To Address Bond Scarcity, Stress Full PSPP Implementation





"Mr Draghi during the press conference to stress the need for the full implementation of the expanded asset purchase programme as an important condition for the positive growth and inflation outlook to materalise," Goldman says, previewing the Draghi presser where the ECB chief will likely get more than a few questions about the possibility that the central bank will run out of bonds to purchase in the course of monetizing the entirety of euro net issuance.

 
Tyler Durden's picture

Bank of America Revenue Drops, Misses Due To Declining Trading Revenues, Loan Creation And Net Interest Margin





One look at BofA's earnings report shows why contrary to popular opinion, the bank that bailed out insolvent Merrill Lynch is far better off to be pnealized with tens of billions in legal fees than running its business unbothered by the racketeering government. The reason: a year after BofA reported $6 billion in litigation charges, moments ago Bank of America announced only $0.4 billion in legal fees, which meant it barely had any credible addbacks. So when looking at its numbers on a realistic, GAAP basis, BofA once again missed EPS, with the bottom line printing at $0.27, or below the $0.29 estimate.

 
Tyler Durden's picture

China Stock Rally To Continue Unless Economic Recovery Gets In The Way, Deutsche Bank Says





The panic buying by China’s newly-minted, day trader hordes took a breather on Tuesday which we think presents as good an opportunity as any to assess what factors might intervene to derail the self-feeding margin madness that has Shanghai and Hong Kong partying like it’s 1999 on the Nasdaq.

 
Tyler Durden's picture

Central Banks Made The Whole World “Buy Time”... There Are Signs We’re Beginning To Sell It





Can you arbitrage time?  Can you buy and sell time? We think that you can from the perspective of time horizons. In our view, financial markets are operating on the wrong time horizon – one that is too long (thanks to central banks ZIRP/NIRP and credit creation) - although there are signs that this is beginning to change.

 
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