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From One Closing Ramp To Another

Tyler Durden's picture




 

Presented with little comment - for any comment would simply end in ridicule and exasperation - but it seems quite clear that more than a few algos feel the need to keep S&P 500 futures above 1400 into the month-end and OPEX. S&P futures closed at 1411.25 (+3.75 from Friday's close).

 

S&P 500 futures repeated their closing ramp to test up to Friday's late-day highs; obviously volume was negligible but average trade size was relatively large into the ramp.

 

With Treasuries still closed, CONTEXT remains relatively quiet but for some idea of where FX and commodity prices are relative to equities' ramp:

 

The USD is down modestly on the week (-0.18%), Gold is barely positive at $1713 (+0.1%) with thre rest of the commodity complex lower on the week.

 

Chart: Bloomberg

 

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Tue, 10/30/2012 - 09:23 | 2931024 vinayjha
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Its order from Fed and Obama market should be kept above 1400 and S&P500 13k for pyschological reason so that they win.

http://www.freefdawatchlist.com

Tue, 10/30/2012 - 09:24 | 2931036 slaughterer
slaughterer's picture

We are now calling this pattern formation on ES the "Kevin Henry Boner Moment."  BOING!

Tue, 10/30/2012 - 09:26 | 2931043 CPL
CPL's picture

GO Kevin GO!

 

You'll break the market yet kiddo and like every young Turk, they'll hang the albatross around your neck for a platry sum and a knife int he back.  Consider this your last year in Finance Kevin.

 

We all smell the blood in the pool and it's yours.

Tue, 10/30/2012 - 10:14 | 2931231 Richard Chesler
Richard Chesler's picture

STFPJ.

Tue, 10/30/2012 - 11:11 | 2931428 SafelyGraze
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I've seen this graph before, and It Can Only Go Up From Here

spoiler: progesterone level during pregnancy

spoilerSpoiler: it goes back down after pregnancy/levitation ends

Tue, 10/30/2012 - 09:30 | 2931052 TruthInSunshine
TruthInSunshine's picture

Where are all you wacky conspiracy theorists purporting intervention in equities and other asset classes by The Working Group on Financial Markets?

Well?

Huh?

 

/sarc

Tue, 10/30/2012 - 09:39 | 2931085 Brokenarrow
Brokenarrow's picture

Why do you think the market is levitated here, fool? Huh? Ask Ken Griffen and his insanely secret organization in Chicago who is proping up this turd and you will know. I know a man who works there. He is afraid to talk about them like they are the CIA. WHo do you think buys this crap? Fidelity clients?

 

Mr. Wacky

Tue, 10/30/2012 - 09:40 | 2931087 EscapeKey
EscapeKey's picture

Intervention? No, no, no, we operate in a free market. No manipulation or intervention here.

Except for in treasuries, bonds, gilts markets. But that's for the common good, you see. So that doesn't really count.

And FX rates are slightly offset, to create better export opportunities, but you see, once again it's for the common good. It's because we look after you.

Equities markets have received large cash infusions, of course. And the state has held large equity positions in key organizations. But that wasn't manipulation, you understand. Perhaps it was intervention, but it was for the common good. See? We're only interested in what's best for you.

So perhaps there's a little... FRIENDLY... help in the bonds, FX, and equities markets, but we only do it because it's best for you. Us telling you what's best for you is the cornerstone of a free, democratic market.

Tue, 10/30/2012 - 10:52 | 2931313 TruthInSunshine
TruthInSunshine's picture

Just to be clear, I think it's the definition of wacky to NOT believe these "markets" are anything BUT 100% manipulated across the board, from head to toe, bitchez.

I'll make my /sarc tag bigger next time.

Kevin Henry, he's the PPT's man, if he can't do it (under a constant barrage of orders from The Bernank & TIMMMMAY!!!), no one can.

Tue, 10/30/2012 - 09:57 | 2931140 DeadFred
DeadFred's picture

Mitt has friends too. Wait for this market to open. Short term deep out of the money puts because the bulls are about to be coldcocked. Everything is below the 50s. The Russell is below the 200. The downtrend of the last several days is about to cross a long term support line and insurance companies will need to liquidate to get cash for claims. Kind of looks like a 1987 deja vu. A hundred bucks at the open could be the best play you make all year, or not, but it's small time money for big returns and good sound bites for the holiday parties. The pursuit of sound bites is one of the primary goals of life after all.

Tue, 10/30/2012 - 09:23 | 2931025 Boilermaker
Boilermaker's picture

Well...It works, doesn't it?

Who cares if it's right or wrong.  These tactics won't stop.  It's the only trick left in the bag.

Tue, 10/30/2012 - 09:24 | 2931031 Lost Wages
Lost Wages's picture

No crash again today. Sorry, Tyler. :(((

Tue, 10/30/2012 - 09:26 | 2931041 virgilcaine
virgilcaine's picture

short that pig..

Tue, 10/30/2012 - 09:28 | 2931046 swissaustrian
swissaustrian's picture

The term "markets" is so 1912.

Tue, 10/30/2012 - 10:34 | 2931306 Vince Clortho
Vince Clortho's picture

Ahhh, the nostalgia.

BTW, who invented the term "Bank and Trust" ?

Tue, 10/30/2012 - 09:28 | 2931048 rsnoble
rsnoble's picture

Oh hell, they'll have that fairy tale make believe bullshit of a market to 1500 before the lights come back on. The city that never sleeps.

Tue, 10/30/2012 - 09:28 | 2931049 buzzsaw99
buzzsaw99's picture

An extinction level event would probably move the market +.3%.

Tue, 10/30/2012 - 09:45 | 2931104 EscapeKey
EscapeKey's picture

It would be considered bullish. Think of all the rebuild efforts.

Tue, 10/30/2012 - 10:02 | 2931174 Non Passaran
Non Passaran's picture

The world devoid of humans fallacy :-)

Tue, 10/30/2012 - 09:46 | 2931106 taraxias
taraxias's picture

So true....LOL!

Tue, 10/30/2012 - 09:31 | 2931060 Dr. Engali
Dr. Engali's picture

The deepest most liquid markets in the world....literally.

Tue, 10/30/2012 - 09:48 | 2931112 SheepDog-One
SheepDog-One's picture

So liquidy...easy to froth it up a bit more like a capuccino topping. All air though.

Tue, 10/30/2012 - 09:33 | 2931066 slaughterer
slaughterer's picture

Convenient how Sandy interrupted the disappointing 3Q earnings season and the pre-election sell-off. 

Tue, 10/30/2012 - 09:34 | 2931072 Brokenarrow
Brokenarrow's picture

Some insight: I used to be a broker many years-ago. I brokered a "hot" penny stock to a guy that was religious, conservative, and respected in the community. It turns out the stock was a front for organized crime. When I disclosed this to the whore----er client, he said "I don't care as long as it keep going up." No surprise to me as I have seen the ugly side of people where money is involved. The same thing is going on in the us equity market. They don't care how crooked or manipulated it is, "as long as it goes up."

Tue, 10/30/2012 - 09:34 | 2931073 max2205
max2205's picture

Why don't they just move the spx up 10% overnight and call it a year

Same as a helicopter drop right?

Tue, 10/30/2012 - 09:49 | 2931114 Boilermaker
Boilermaker's picture

Why even bother with it?

Just close the market, declare it where you want it, and then keep it closed.

Tue, 10/30/2012 - 10:38 | 2931321 Vince Clortho
Vince Clortho's picture

Excellent idea.

A single computer could replace the jobs of countless traders, clerks, and so on.

A fringe benefit would be eliminating some of the congestion in the finance district.  Sounds like win/win to me.

Tue, 10/30/2012 - 09:35 | 2931077 Confundido
Confundido's picture

Does this apply to gold at $1,705/oz too???

Tue, 10/30/2012 - 09:43 | 2931096 swissaustrian
swissaustrian's picture

Yes, but the buyer is not 33 Liberty or a proxy thereof.

Tue, 10/30/2012 - 09:37 | 2931079 ThisIsBob
ThisIsBob's picture

How come futures can trade at night but not during the day?

Tue, 10/30/2012 - 09:42 | 2931094 Trimmed Hedge
Trimmed Hedge's picture

Best to do these kinds of things under the cover of darkness while the sheeple sleep...

Tue, 10/30/2012 - 09:42 | 2931092 PUD
PUD's picture

Imagine the ramp if it had gone down like this...http://www.ballardian.com/images/statue_planet.jpg

Tue, 10/30/2012 - 09:43 | 2931098 Bansters-in-my-...
Bansters-in-my- feces's picture

Alert...***

Silver one year lease rates just went to 0.0000

Watch out below.....

Tue, 10/30/2012 - 09:43 | 2931100 Jason T
Jason T's picture

The market is like Earth.. it will kick your ass no matter how much you "try" to manipulate it.  

Bailouts will no longer be able to keep pace with the collapse and all hell may break loose.

 

Tue, 10/30/2012 - 09:50 | 2931115 SheepDog-One
SheepDog-One's picture

Daily coordinated QE's are now needed by Japan and China just to keep this turd afloat? Its ridiculous.

Must. Keep. 1,400. Braaaaaaaiiins......

Tue, 10/30/2012 - 09:46 | 2931101 malikai
malikai's picture

At last hit about 30 minutes ago, I got 1402.5 on my S&P model.

10 year futures model just about flat at 132.65.

Tue, 10/30/2012 - 09:47 | 2931108 Downtoolong
Downtoolong's picture

Every time I see this phony, manipulative, Step-Function action in markets I wish for two things:

1-That Mary Shapiro at the SEC and Gary Gensler at the CFTC are short the market.

2-To see a video of those poor little babies trying to “Actively Trade” their way through it to big profits using all those whip smart tools and professional guidance gleaned from the eTrade website.

Tue, 10/30/2012 - 10:01 | 2931161 SmoothCoolSmoke
SmoothCoolSmoke's picture

Screwed by Sandy: I bought 10 in-the-money SPY weekly puts (11/2) at the close Friday.  Would have been a nice little profit Monday.  Right now, they are OOM.  Bastards!

My question is, what if the markets do not open this week.  What happens to weekly (11/2) options?

Tue, 10/30/2012 - 10:25 | 2931272 El Hosel
El Hosel's picture

Dead fish, the longer you keep them the more they smell.... I'm sure the Team will give everybody a "do over", just like they did for the TBTF.

Tue, 10/30/2012 - 10:12 | 2931216 ThisIsBob
ThisIsBob's picture

Although the  NYSE, et al,  have generators, back ups, mirrors, etc., and could  be open for trading, I suspect they will wait as long as possible for the HFT parasites to get up and runniung, lest reality returns to the markerts.

Tue, 10/30/2012 - 10:23 | 2931264 El Hosel
El Hosel's picture

Reality in the markets? WTF? Its been a few years.

Tue, 10/30/2012 - 10:28 | 2931283 insanelysane
insanelysane's picture

Cramer was already providing the spin saying the market should stay closed for as long as "it" takes.  I am assuming "it" is getting O re-elected.  They are afraid that the 401k guys will Sell, Sell, Sell tomorrow as it is the last day of the month.  They want markets closed till after the election and all other data supressed until after the election.

Tue, 10/30/2012 - 10:17 | 2931243 tooriskytoinvest
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Bubble Burst In HK

http://www.marketwatch.com/story/has-hong-kong-popped-its-bubble-2012-10-28?link=home_carousel

Please Listen Carefully: This Is An Economic “Perfect Storm.” All Of Our Nine Scenarios End In Bad News For All Markets, Spell Danger For Your Future Income, Your Family’s Security. START PLANNING NOW. http://investmentwatchblog.com/please-listen-carefully-this-is-an-economic-perfect-storm-all-of-our-nine-scenarios-end-in-bad-news-for-all-markets-spell-danger-for-your-future-income-your-familys-secu/
Tue, 10/30/2012 - 10:28 | 2931285 larz
larz's picture

keep rolling sevens kev my boy

Tue, 10/30/2012 - 11:27 | 2931480 stormsailor
stormsailor's picture

add zeros to buy,  when they can get the hft's to buy it on up they sell into it.  take zero's away.   been going on since march 2009.  they played it close to the vest for a couple of years, but now its just rub it in your face blatant because what are you going to do about it.

 

some people try to play the long side, thats good until it's shearing time and you never know when that is.

Tue, 10/30/2012 - 11:55 | 2931589 Quinvarius
Quinvarius's picture

My thesis is bullish!

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