This page has been archived and commenting is disabled.

AAPL At Lows, S&P At Highs And Bonds Catch Up To Stocks

Tyler Durden's picture




 

IBM weighed on the Dow - much to the chagrin of the mainstream media - but if they'd replaced IBM with AAPL things would have been just as ugly (if not worse). The tech-darling dumped after trying to ramp in the last hour and once again failing at VWAP on heavy volume as the big boys exited. S&P futures auctioned up to QEtc. spike levels and were unable to get through but still had a solid day. Interestingly, while today was an 'uncorrelated' day across risk assets, the rise in Treasury yields, rise in stocks, drop in Gold, and drop in USD has brought them all back together in sync post-QEtc. - from here who knows? Credit markets tracked equities generally - but HYG and LQD saw major volume spikes early on this morning (looked like HYG sells and LQD buys). VIX limped sideways most of the day - falling 0.14vols to 15.08% (though for the year remains on average at a high premium to realized). The USD is down 0.85% for the week with EUR back above 1.31 and only JPY weaker vs USD among the majors.

 

 

S&P futures stalled at the Bernanke spike high - and up-trend line from the May lows - with some decent size coming through at the close with no follow-through on price movement...

 

This continues a similar pattern... as market participants test up and down to find buyers and sellers...

 

and Gold, Stocks, Treasury Yields, and the USD are all back in sync post QEtc...

 

LQD and HYG saw very large volume spikes - and the closes of the day ended very close to where this volume erupted...

 

Treasuries are tumbling this week with the entire 7Y-plus segment higher in yield by 15-16bps...

 

AAPL's ramp must be clear to people now - the algos lift the price to enable the big boys out near VWAP - once you grasp this fact, maybe you will begin to understand the auction process of the exchange of stocks and why we rise and fall...

 

Charts: Bloomberg

 

Bonus Chart: VIX risk premium over realized - annual average remains high. Realized vol has been crushed...

 

Bonus Bonus Chart: Mind-blowing Deus Ex Machina - US Equities, European Equities, And Gold ALL Up ~11.8% YTD...


 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 10/17/2012 - 16:24 | 2899117 vast-dom
vast-dom's picture

i tink i taw a putty tat.

Wed, 10/17/2012 - 16:36 | 2899195 French Frog
French Frog's picture

It feels like the right time to use the reverse of that much-used phrase in this daily column: "what do stocks know that the bond market doesn't ?"

/S

Thu, 10/18/2012 - 01:10 | 2900169 Grill Boss
Grill Boss's picture

more like what does the military know that the public doesn't?

http://bcfreedom.wordpress.com/2012/10/15/death-lies-and-mutations-what-...

Thu, 10/18/2012 - 03:10 | 2900260 French Frog
French Frog's picture

After all these years in here, it's amazing how some people (junkers) still don't get Sarcasm: is it a cultural thing or do some nationalities not get it? (/S) 

Wed, 10/17/2012 - 16:28 | 2899135 Yen Cross
Yen Cross's picture

It's funny how according to CNBS the DOW should have been up another 75 points if not for the shitty earnings from IBM &Intel. However they never discuss the daily NASDAPPLE ramp ups! Damn hypocrites! :-)

Wed, 10/17/2012 - 16:30 | 2899159 spastic_colon
spastic_colon's picture

Perfect choreography so IBM will be up tomorrow and take the DOW and S&P with it on their way to new pre-relection highs

Wed, 10/17/2012 - 16:37 | 2899178 Quinvarius
Quinvarius's picture

Jessie Livermore on inflation:

>>>

I did much better during the following year. I was very lucky. I was rampantly bullish in a wild bull market. Things were certainly coming my way so that there wasn't anything to do but to make money. It made me remember a saying of the late H. H. Rogers, of the Standard Oil Company, to the effect that there were times when a man could no more help making money than he could help getting wet if he went out in a rainstorm without an umbrella. It was the most clearly defined bull market we ever had. It was plain to everybody that the Allied purchases of all kinds of supplies here made the United States the most prosperous nation in the world. We had all the things that no one else had for sale, and we were fast getting all the cash in the world. I mean that the wide world's gold was pouring into this country in torrents. Inflation was inevitable, and, of course, that meant rising prices for everything.

All this was so evident from the first that little or no manipulation for the rise was needed. That was the reason why the preliminary work was so much less than in other bull markets.

<<<

Don't be fools.  You got to ride this bad boy.

Wed, 10/17/2012 - 16:57 | 2899267 CvlDobd
CvlDobd's picture

The same Livermore that lost most of it in the crash?

Thanks for the FREE advice.

Wed, 10/17/2012 - 17:17 | 2899334 Quinvarius
Quinvarius's picture

Actually no one knows how he lost all the money he had made trading.

Wed, 10/17/2012 - 18:20 | 2899476 LooseLee
LooseLee's picture

All those who participate in and cheer this anti-American fascist/communist fleecing of the public will hang by gallows where all can see. That means you!

Wed, 10/17/2012 - 18:58 | 2899543 Quinvarius
Quinvarius's picture

I suggest you participate and make a buck off of the situation because you can't change it.

Wed, 10/17/2012 - 16:38 | 2899204 larz
larz's picture

shaddap and trade the market - make the new normal adjustment and trade or go home 

Wed, 10/17/2012 - 16:40 | 2899210 azzhatter
azzhatter's picture

I'm looking for a little more levitation before I cash out my last fidelity account.

Wed, 10/17/2012 - 16:47 | 2899240 LongSoupLine
LongSoupLine's picture

Not only does the room get more and more crowded every day, but the one single exit in that room gets smaller.

 

Guess who's in the room on the opposite side of the exit?...it ain't the TBTF's, that's for certain.

Wed, 10/17/2012 - 16:50 | 2899251 tooriskytoinvest
tooriskytoinvest's picture

50% of the College Grads Cannot Find Jobs

http://nces.ed.gov/programs/digest/d11/figures/fig_16.asp?referrer=figures

NOT JUST GAS! CHECK OUT THE DRASTIC PRICE INCREASES ON THESE 21 EVERYDAY ITEMS

http://www.theblaze.com/stories/not-just-gas-check-out-the-drastic-price-increases-on-these-21-everyday-items/

Calm Before The Storm? Situation Has Deteriorating Rapidly But Stock Market Is Waiting For The Result From U.S. Election

http://investmentwatchblog.com/calm-before-the-storm-situation-has-deteriorating-rapidly-but-everyone-is-waiting-the-result-from-u-s-election

 

Wed, 10/17/2012 - 20:01 | 2899639 rsnoble
rsnoble's picture

Does this mean frantic HFT AAPL buying in order to ramp the markets to new highs?

Wed, 10/17/2012 - 20:10 | 2899653 chump666
chump666's picture

Dying to profit take but the 'good news' cartel is still under this rally.

Do NOT follow this link or you will be banned from the site!