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No Volume Ramp Is Back On Schedule

Tyler Durden's picture




 

When we summarized the overnight session just before 7 am, we titled it appropriately enough, "No Melt Up (Yet) In Boring Overnight Trading." Little did we know, actually scratch that - we knew full well that moments later the ramp would make its now daily reappearance. Because if it weren't for the 7th straight day of no volume, no news levitation, someone, somewhere may have gotten the impression that the market is desperately manipulated and artificial, and that if it weren't for a constant ramp higher, confidence in authoritarian "markets" may disappear, and the retail investor may pull even more than was pulled last week, following a brief inflow in the market in early 2013.

And while volume was absolutely abysmal as reported earlier, the driving factor was, in addition to today's modest, and now daily, $1.5 billion POMO,  Kevin Henry going absolutely medieval on the VIX, which plunged to the lowest since early 2007, and printed last in the mid 11s. At this rate, we get single digit VIX in under a week, at which point we urge the president to strongly consider an Executive Order allowing, and even demanding, a negative VIX.

We would comment on the variety of other utterly senseless observations witnessed in today's "market" but it has become completely pointless. The entire market has entered the 2013 version of the dot com frenzy, where only buying and momentum begets more buying and momentum. It will continue going up and dragging everyone in it, until it no longer can.

At that point everyone who is long will certainly be able to sell to everyone else, and book profits, before the perfectly orderly unwind takes the "market" to its perfectly programmed 2% correction (because in the New Normal 2% is the old 20%).

 

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Mon, 03/11/2013 - 16:22 | 3320407 resurger
resurger's picture

Algos Fucking Algos

Christmas everyday...

Mon, 03/11/2013 - 16:23 | 3320419 fonzannoon
fonzannoon's picture

It feels like this can go on forever. 18 months and running. Why does it have to stop tomorrow?

Mon, 03/11/2013 - 16:24 | 3320425 PontifexMaximus
PontifexMaximus's picture

It will not!

Mon, 03/11/2013 - 16:29 | 3320426 JustObserving
JustObserving's picture

A fraudulent market constantly needs more fraud or it collapses.  

O, what a tangled web we weave when we practice to decieve

Mon, 03/11/2013 - 17:17 | 3320640 Caviar Emptor
Caviar Emptor's picture

Reflate or bust!

Mon, 03/11/2013 - 16:25 | 3320433 Shizzmoney
Shizzmoney's picture

Shittiest bull market, evah.

BTW the low volumes make things easier for them.  The less players you have, more you can manipulate the results.

Mon, 03/11/2013 - 23:12 | 3320435 espirit
espirit's picture

Markets Meaningless Moronic Metric.

Mon, 03/11/2013 - 16:26 | 3320441 Edward Fiatski
Edward Fiatski's picture

Here's a toast to 2(0)% corrections!

Every day is a POMO day. :)

Mon, 03/11/2013 - 16:27 | 3320446 Oldwood
Oldwood's picture

They say when you are in a life threatening situation, time slows down and your life seemingly passes before your eyes. That is the way this is starting to feel.

Mon, 03/11/2013 - 16:27 | 3320449 Kaiser Sousa
Kaiser Sousa's picture

what a fucking joke these so called Equity markets are and have always been...

yeah, that's it...let me sell my Real money so i can get in on this fake ass levitating stock bull (as in shit) rally...

and by the way - thanks again for allowing me to keep on stacking Silver below $30 you banker fucks.....

Sincerely,

FUCK YOU BERNANKE YOU BANKER COCKSUCKER MOTHER FUCKER...... 

Mon, 03/11/2013 - 16:29 | 3320466 JenkinsLane
JenkinsLane's picture

I think the Bernanke should have his own theme song. My vote is for "Up, Up & Away" by The 5th Dimension. It could

be played before he begins Senate Hearing, etc., and might mean more kids would take an interest in monetary policy.

 

Mon, 03/11/2013 - 16:40 | 3320521 Smuckers
Smuckers's picture

I would opt for the Fantasy Island intro...with a little Obamini yelling -
Ben...da copter!  da copter!

 

 

Mon, 03/11/2013 - 16:38 | 3320499 StarTedStackin'
StarTedStackin''s picture

The mailman just left. He said "the guys were takin' bets over what was in those boxes"

 

 

 

 

"auto parts" is all I said........ all 35.625 lbs.......

Mon, 03/11/2013 - 18:19 | 3320831 Esso
Esso's picture

With ZHer's predilection for boating misadventures, wouldn't "marine parts" have been a more truthful answer?

Mon, 03/11/2013 - 18:53 | 3320944 StarTedStackin'
StarTedStackin''s picture

I just sold the boat and have mostly liquidated any marine supplies as they won't be needed on my WV mountaintop.

Mon, 03/11/2013 - 16:38 | 3320502 Smuckers
Smuckers's picture

Negative VIX??  That'll be the day when pigs float by the thousands -
Damn, never mind....BULLISH.

 

Mon, 03/11/2013 - 16:57 | 3320504 ptoemmes
ptoemmes's picture

Correlated perfectly with the presser on the NYC soft drink ban invalidation....let's see if I qualify for the CNBS Website headline writer.

 

Stocks surge into close fizzed up by judge invalidating the NYC soft drink size ban.

Mon, 03/11/2013 - 16:40 | 3320519 orez65
orez65's picture

Except for what you need for monthly expenses, exchange all your US Dollars and bonds for gold and silver coins.

Gresham's law: 'bad money drives out good money', will then destroy the bankers.

Mon, 03/11/2013 - 16:43 | 3320536 SheepDog-One
SheepDog-One's picture

Don't worry....after the 'elections' reality will definitely come crashing back in once The One has had his second term safely attained'.....ah, suckers. 

Got to tack on 50 points daily from here on out until total collapse of it all.....we gotta get retail in somehow or other! It's a stock market panic-buy MANIA! Whats wrong with you people! Get back in there and Buy! Buy! Buyyyyyyyyyy!!

Mon, 03/11/2013 - 16:43 | 3320538 mdtrader
mdtrader's picture

Can somebody please set up 100 times leveraged long SPX fund so we can all get rich! What could possibly go wrong?

Mon, 03/11/2013 - 16:50 | 3320565 JenkinsLane
JenkinsLane's picture

I'm in!

Mon, 03/11/2013 - 16:44 | 3320544 rsnoble
rsnoble's picture

Not one heavily manipulated market in history has never collapsed and ended badly.

Of course at this rate we may not be alive to see it lol.  I doubt that but I agree this is pure monotony waiting on what we all know is coming.  I'd like to here the real discussions behind closed doors...."Fast......Buy more bullets!!!!"

Mon, 03/11/2013 - 16:49 | 3320558 SheepDog-One
SheepDog-One's picture

Just read that DHS is now buying like $10 million worth of 'sniper rifles'.

Mon, 03/11/2013 - 18:23 | 3320847 Esso
Esso's picture

It's "for the children".

Mon, 03/11/2013 - 17:06 | 3320605 razorthin
razorthin's picture

Insiders are selling hand over fist and at a rate not seen since just before the last crash.  Of course that is just one statistic.

Mon, 03/11/2013 - 17:35 | 3320709 SilverMaples
SilverMaples's picture

Low volume ramp is the fuel ofhigh volume dump, ... law of nature. 

Mon, 03/11/2013 - 17:37 | 3320715 MoneyThangs
MoneyThangs's picture

How many months do we have to go through without a correction until Marc Faber starts throwing molotof cocktails into Melissa Lee's booth

Mon, 03/11/2013 - 17:44 | 3320744 thismarketisrigged
thismarketisrigged's picture

yup, these markets are not even worthy of a full recap anymore bc its the same thing over and over again.

 

i am pretty confident futures will be in the red tonight a bit, only to be brought green tomm morning, 

 

somehow there is no fear whatsoever in this market, despite the looming govt shutdown in 2 weeks (not that i think that will happen, but nonetheless on the table) the upcoming debt ceiling debate, contraction in europe, japan in recession, and the u.s growth( or lack of) flat. not to mention 47 million people on food stamps. 

 

terrible china data yesterday, showing biggest weakness since 09, and the shanghai falls a whopping 8 pts, and the hang seng finished down 1.13 pts, or in other words, totally flat with a pct move of 0.00 pct.

 

cant make this shit up.

Mon, 03/11/2013 - 17:59 | 3320770 EclecticParrot
EclecticParrot's picture

Now they've really done it:  the manipulation is so half-hearted and obvious that the Tylers are too disgusted to even bother with a write-up, for that would be giving them too much credit (like dispatching a full news crew to cover an empty gum wrapper caught in the wind).  

Today was especially telling --normally they at least manage to hit a few pivot points in the more volatile indices, but today the Russell seemed to bounce around VWAP all day, with huge down-bars at around 2:30, 3:00 and 3:40, not enough to fool anyone or hit stops (can't imagine surviving traders use such tight stops), but merely to create enough space to make the final ramp more "respectable."  The algo programmers are likely drinking heavily in embarassment tonight ("I got a Ph.D. at Carnegie-M for this ?!").  Christ almighty -- ADX can't go any lower, or it'd be negative (?), yet still we ramp late (?!)

Hmm... I wonder ... could the algo-dorks grow so bored with this endlessly-looping kinetic sculpture that they'll throw in a 150 pt. down day, say on Wed., just to reset things and bring in a few new stop levels to hit?  Even the robots must be tired of this shit by now ...

Mon, 03/11/2013 - 18:02 | 3320792 Village Smithy
Village Smithy's picture

Nice TA. Thanks for rallying on Tyler's behalf. He can't be all there all the time.

Mon, 03/11/2013 - 18:06 | 3320809 l1b3rty
l1b3rty's picture

http://silvervigilante.com

The New York Stock Exchange has announced that it is working on plans so that the exchange can operate without humans!

“If it weren’t for the people, the god-damn people’ said Finnerty, ‘always getting tangled up in the machinery. If it weren’t for them, the world would be an engineer’s paradise.”
? Kurt Vonnegut, Player Piano

“Those who live by electronics, die by electronics. Sic semper tyrannis.”
? Kurt Vonnegut, Player Piano

For history, man has directed his own fate, even if the individual did not do so for himself.  In “The Growth Of Civilizations,” Rhodes Tutor and Professor Arnold ToynBee writes of how things came to be how they are:

These individuals who set going the process of growth in the societies to which they ‘belong’ are more than mere men. They can work what to men seem miracles because they themselves are superhuman in a literal and no mere metaphorical sense…[these men wish]….to convert a species, which is essentially a created thing, into a creative effort, to a make movement out of something which, by definition, is a hault.

Lord Blankfein of Goldman Sachs wasn’t kidding when he said that his bank was “Doing God’s Work.” Transhumanism is one central tenet of these supermen’s agenda, and it is not merely for music videos and cinema. No, it is for eCONomy itself; that is, for all things societal and cultural.

Mon, 03/11/2013 - 18:13 | 3320822 EclecticParrot
EclecticParrot's picture

I can just picture Blankfein at managers' retreats, locking his hands together in front of the overhead projector, and sniggering:  ". . .here is the church, and here is the steeple --open the doors and see all the sheeple." 

Unfortunately, this was likely at the 1995 meeting, for it looks like the peeple-less market is fully operational, and has been for a year or two.

Mon, 03/11/2013 - 18:16 | 3320827 A82EBA
A82EBA's picture

Dow trans up 11% over '08 high

Mon, 03/11/2013 - 19:34 | 3321040 mattdubz86
mattdubz86's picture

someone comment on Porter Stansberry's bullish stance on the great bernanke asset bubble. Stocks are going higher whether they should or not.

Mon, 03/11/2013 - 20:38 | 3321208 lasvegaspersona
lasvegaspersona's picture

mattdubz

The best performance of a stockmarket was in Zimbabwe.

If you bought Seimens in 1913 and sold in 1955 you would have lost about 50% of your purchasing power. Weimar market did not keep up with inflation. 

You should only be in this market as a hedge. Hold gold and be patient. This market may go up too. I guess Ben has the power to print it as high as he wants. What the paper it is priced in will be worth in the end is the question.

Mon, 03/11/2013 - 19:47 | 3321079 Downtoolong
Downtoolong's picture

You see Muppets, we can make the markets go up .5% per day as long as we want. You better get on board or be left behind.

What f^&cking arrogance.

But, there’s one thing I’ve noticed about market trends over the years. The climb to the peak is usually a lot slower and steadier than the sudden drop back to the bottom. In other words, you can’t fall up the mountain, but, you can fall down.

Tue, 03/12/2013 - 00:41 | 3321572 W74
W74's picture

In Bernakaworld, mountain falls You.

Mon, 03/11/2013 - 19:53 | 3321089 lasvegaspersona
lasvegaspersona's picture

No worries about collisions at sea...the Baltic Dry Index remains at Jan 2009 levels. I'm sure the economy is moving goods by teleportations now.

Mon, 03/11/2013 - 22:10 | 3321401 Everyman
Everyman's picture

At what point do people start looking around and figure out if the VIX doesn't matter, and all the other technical and fundamentals don't matter, what does anything matter then?

 

If there is no way to "measure" anything angainst anything else or establish "value", how would ANY ONE know what the worth of what they were holding?

Isn't this all an excercise in rhetoric at this point?  Math and reality don't seem to matter either.

Mon, 03/11/2013 - 23:09 | 3321488 espirit
espirit's picture

Got to up arrow your analysis, spot on. +1

Tue, 03/12/2013 - 01:30 | 3321604 q99x2
q99x2's picture

As soon as the DHS is fully prepared the market will stop going up. They are taking this sucker to the cleaners.

Tue, 03/12/2013 - 03:00 | 3321642 bigyimmy007
bigyimmy007's picture

Exactly. This final ramp has only been used to buy up time for these asswipes to prep for a showdown.

 

All the guns&bullets, checkpoint booths, UAVs, MRAPs...A major bloodbath is coming.

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