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Spot The Daily 3:30pm Ramp
Fewer jobs, BTFD; Bond yields at 5-month lows, BTFD; Macro data collapsing, BTFD; earning season straight ahead, BTFD. US equities dumped in the pre-open on huge volume as the NFP data hit and disappointed with not even Steve Liesman able to find a silver lining, but we wriggled higher after the US open and briefly topped out at the European close - all amid extremely low volume. Then things went quiet, too quiet; until the dreaded witching 30 minutes. Volume disappeared to trickle and at 1530ET to the dot, the magical levitation fairy took us on her wings made of bull's scrotums and smashed stops to pull S&P futures (and thusly the rest of the market) up 10 points. Although we closed red - making it 13 days in a row of down-up now (an all-time record of prevarication) - all asunder declared victory for the bulls and declared that this 'market' shows that everyone just wants to buy those dips. Meanwhile, EURJPY exploded (JPY lost 5% against the USD in the last 36 hours); Treasury yields collapsed - not participating in the jerk higher in stocks; Silver and Oil recoupled (again) to close -4.2% on the week; Gold ended -1.2% at $1580 (notably off its lows); and while high-beta sectors recovered Utes and Healthcare won the week. The Dow, in all its might, closed above pre-Cyprus levels (just).
The magical Friday afternoon 3:30pm rampapalooza in all its glory...
completing 13 days of vacillation in stocks (for 1 points of gains 3/18 close 1552, 4/5 close 1553) and 25bps of yield compression in Treasuries (3/18 close 1.955%, 4/5 close 1.706%)
As the Dow declared victory - another green close post Cyprus 'proves' the island didn't matter...
and the high-beta (builders etc) bashed higher today from the opening bell... Discretionary closed at a highly coincidental perfect UNCH from Cyprus!!!
FX markets were stunned this week...
Oil and Silver ended in sync as Gold recovered notably off the lows...
But Treasuries are the real story with an epic 23bps collapse in 30Y yields - totally and utterly disconnected from stocks...
Charts: Bloomberg and Capital Context
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So tired
Bulls's scrotums? Those be some odd looking fairy wings.
It's a new commodity. They make excellent coin purses. You know, for when fiat loses its luster.
Gotta love when the Tylers post Friday Humor.
Is Steve Liesman Jewish? Well makes no difference, I hate him a ton anyways.
Ramp at the close?
Are you suggesting that it's not natural?
(Marge Simpson about her blue hair.)
DIA APR 05 $145 was up 500% in 30 minutes (from 3:30pm) only to collapse to being up 400% at the close.
A few big boys were heavily short delta (short SPY puts) all week only to come into the office today and realize NOT ALL IS WELL, so the buying really happened all day-session. Soon as cash-opened, the volume trickled in and slowly but surely we got back into >155 (SPY) territory thereby making those puts worthless, just as planned. Sickening, but it is what it is. You can't beat em so join em.
Maybe someone should alert the SEC.
Har, Har,....
Don't fight the fucking FED. Sadly, but one day soon.....
No safer place than to put your coins in your "sack".
TSA will have a field day!
alright everyone nothing to see here back to the bid.....lol
Wow, what a ramp up!
Can't you just picture
Fievel Mousekewitz (Ben Bernanke)
standing up, leading the charge:
"L e t ' s H a v e a W o w w y !!"
I am getting filthy rich off the 3:30 ramps...thanks Ben
i was honestly hoping we finished green once we were down just 40 pts on dow with 4 minutes left, bc i wanted to be able to have a good laugh.
how is it that we have a week in which every economic data release has been fucking horrendous, and then today, we dont just have a slight miss on job expectations, we fucking miss by 112,000 on job expectations with 88,000 ( i beleive consensus was 200,000)
this and we dnt even finish half a percent down? r u effing fucking kidding me? what will it take to tank, bc if today didnt do it, i dont know what will.
i fucking hate these ppl, it makes no sense whatsoever, i dont think i will ever understand this market.
I believe the answer you seek is contained in your screen name...
So you know it, he knows it, I know it, and all of us can see it every day...if we look at the full day's tape, noting volume exiting in the morning, and then low volume rampage at close. And yet somehow, this magically delicious wealth effect is supposed to be transformative, restore confidence in markets, and ultimately lead to our recovery...never minding, of course, that the more treasuries Bernanke buys, the worse the labor market gets.
Something tells me that Ben Bernanke did not think this whole thing through, unless this whole thing is actually just a perpetual bailout of our financially, ethically, and morally bankrupt financial services industry. And if it is the second, well then bravo, Mr. Bernanke. All the guys and girls at the trough in NY, NY and Connecticut look fat and happy!
Lucky for Ben Bernanke, there is an even more incompetent central banker in Japan, whose people apparently are bailing and buying US T bills as fast as they can...which is like a bailout for Bernanke, you could say...that is if he has the smarts to sell. But...then he would be buying and selling....at the same time?
What a marvelous wasteland you have created for all of us, Mr. Bernanke.
I don't see how they could't see that there's no possibility of turning our current "economy" or "capitalism" into something that is actually sustainable.
It has to be intentional.
They have pH Dees, which makes them infallable. If there is a problem it's 'you'. (in their minds).
The o'l reverse It's not you, it's me routine. http://www.youtube.com/watch?v=2uAj4wBIU-8
There is no "market". There is an 85 billion dollar per month monetization (standing "bid"). Well, this is the cash that we know of for sure, because they post the POMO schedule.
where have I seen this all exactly the same before?oh yeah-2007
Only hope for sanity is when the PCE shoots up unfortunately.
I think your username says it all. The markets are a joke especially in the US.
"kidding Me" ...
Can't believe any are surprised at this still. This mornings news was the best thing for this market. This is not going to end any time soon. Best scalp trade in history .... Just short UVXY at 3:00 PM every day.
The short vol trade is getting awfully crowded. You're going to get your nuts ripped off some day. Set stops.
http://www.zerohedge.com/news/2013-03-04/vix-sell-and-roll-volume-explod...
Good point. In the big picture the time is not now but when things get out of control volatility will provide an opportunity for a 1,000+ return. In meantime you might want to use tbf and tlt as treasuries have been a better gauge of volatility than the volatility ETF's for at least a year.
Scalp trade guys ... In at 3:00 out at 4:00 - I'm not married to nothing at this point ~
Well, with all this negative news, things can now only get better! Bullish!
Totally. Just buy the fucking dips. This market is bullet proof.
I agree. If we can this kind of a news week (horrid jobs report, bad housing numbers, bad ISM, NKorea, nothing positive out of Europe or Cyrpus etc etc) after a 10% 1st qtr S&P runup and the worst we are going to see is a half percent drop in S&P than you better go long something as the interventionists (ie central bankers and politicians) will stop at nothing to ensure that all problems are kicked down road until it weight of the can summarily breaks their foot off. By then they will be like Cyrpriot politicians and will have long ago gotten all of their assets out of dodge while the masses suffer a wealth plunder greater than 2008. It may not be for 2-3 years, but I think a 50% drop in the markets is becoming a much greater possibility as the chance of any political restraint and accountability has gone to zero.
Invest in real assets and things people must consume but most importantly be flexible because when it turns I fear it will do so without much warning form the MSM and politicians.
yup, they must generate capital gains tax to replace the lack of income tax
As the printing ramps up it is going to get harder for a tank.
Clearly the pricing mechanism is working and what the stock investor sees ahead is growth in corporate earnings, recovery continuing in housing and Europe being solved. There is every reason to buy the dips and profit while the bears make DIPs that offer you a profit potential. BTFD!
Again...I don't see the cause of the soft patch being caused by anything internal...YET. China has slowed, Japan has crashed, Europe is in Mayhem, the Arab "Spring" is perhaps one of the greatest human catastrophe's in history unfolding. None of these are growth positive...nor good for pricing power generally. By all means short to your heart's content...clearly the whole "export our way to recovery" has been blown away. having said that risk still abounds and therefore while I'm not buying the market overall (yet) selective buying seems ideal here.
Tyler, you may want to (tm)BTFD
The bond market always knows best.
can I get a hell yeah!
Fuck no!
cuz stone cold steve austin said so
WHAT?
http://www.youtube.com/watch?v=DOEIruwzf54
Would a Fuck Yeah suffice?
I call this the "dependable friday trade for weekend walking around money." Horse show this weekend.
Everything is connected except PMs. Banana Ben is printing and buying all assets except those that might expose their endgame playing
correct. I'd venture to say that an active effort to destabilize currencies is well underway. Anything to justify a single currency for the world. All currencies shall be equal (some currencies will be more equal than others).
Charts, bitchez!
Sometimes I have to stop myself and remember that the public gets its' interpretation of govt numbers from a guy named Liesman.
If I were a conspiracy theorist I would say that our script writers aren't even trying anymore. Its worse than when Fannie Mae was run by a guy named Raines and then a guy named Mudd right after that. Worse than the time it took a guy named Obama to kill a guy named Osama.
I remember reading novels in school and thinking it was stupid that a character would be named Lowman or Bundren.
Nominative determinism is a real phenomenon.
http://en.wikipedia.org/wiki/Nominative_determinism
This totally explains why my friend Dick Wanker is a compulsive masturbator with a snooty attitude.
But why isn't Liesman named Dick Sucker.
So the S&P will be up on Monday. OK, got it. But I'm still gonna sit this out. Trust thing ya know.
Quoth the (Irish) Raven:
“There once were payrolls so thin
that not even Steve Liesman could spin.
With his theories to totter,
he puked coconut water
all over his stylish repp tie.”
santelli told liesman "go back to russia where you understand the state and the citizen" when discussing central planning this morning and liesman got all cunty-it was great
+1 Otto for that "got all cunty" line. Really funny.
Liesman has central bankers' shit all over his nose.
rare friday blast in the PM's. wonder whats coming this weekend.
Ben only has so much to spend, and the PM suppression fund suffered at the expense of the ramp.
I hope Spanky Bernanke is good at juggling, cuz it will get harder to do each week. ROFL !
Maybe if the Norks hit the FED, we could lose 1%...maybe
Shearing season starts Monday. UST's are the momo play.
"the magical levitation fairy took us on her wings made of bull's scrotums and smashed stops"
I fucking <3 you.
Stocks have given up their 20 DMA so that's a sign that the tide is turning and a deeper correction is possible. This up, down, up, down action is also often a sign that a market is reaching a turning point.
Are you an insider trader posting any info on trades you may have done today, or trends your seeing, or anything else of actionable value? Or are you just some moron govvy troll that can't spell "conspirasist"?
The PPT does all to calm the sheeple. If they have a look at the markets eventually and they see no reaction on these horrendous NFP miss, they just continue to be what they should be: an ignorant butt
I am sure the ramp-up was based on fundamentals. Or maybe they are just making wild-ass bets using our money. Either way, this crap is getting old.
3:30 -3:32 Hmm maybe there wont be a huge ramp today. 3:33 oh crap!
Down 40...big fking deal! Benny's got everyone's back. It's all Bullshit!!!!
Its all about the Benjamins.
It was a handicap ramp, the market follows today's building codes.
Fed ramp blueprints:
http://www.google.com/imgres?q=handicap+ramp&hl=en&biw=1191&bih=628&tbm=...
Is this site stiil for insider traders or for conspirasist who pray every day that the market crashes? Either way use the observations to make money and shut up. These comments after every post are the same, every week. I mean, I get it already, were all going to die.
So what are you suggesting, that you only looked at Maria Bartiromo's tits once?
Nah... Michelle's are way better and bigger. They might be store bought though.
This is very well done story. Great read.
We're just still alive. It seems you're content with one foot in the grave!
I guess so. "Die at the right time", Friedrich.
Are you an insider trader posting any info on trades you may have done today, or trends your seeing, or anything else of actionable value? Or are you just some moron govvy troll that can't spell "conspirasist"?
Remember, globalisation outstripped accumulation of banks indebtedness with excessive deleveraging against market participants expectation.
On a long enough timeline...
The point is that the abject corruption and immorality of the "markets" is the road to perdition.
I wouldn't really care and all the day traders, crony capitalists, and suckling .gov apparatchiks could rot in their own gravy.
But, I brought kids into this world, and to see their future being pissed away for golden toilets and propping Sodom and Gomorrah I've got to raise Cain however I can.
We should all be worried. Is there more bad news?
No, no. All good. Kiss the Wife and Kids goodnight. Nothing to worry about dear.
Buy some stocks; diversified, indexed, long term.
So what you need really aren't stops. Just a buy around 9:30am and a sell around 4:00pm every day to collect Ben's bounty.
Is it just me or is that not exactly what the little selloff at the end of the day is indicating people have already cottoned on to?
"...EURJPY exploded (JPY lost 5% against the USD in the last 36 hours)..."
Wow, 5% in 36 hours, but the VIX is below 15 and the recovery is here.
Awful job growth is "just one data point" and "Easter and Spring Break" (Joe Bologna on 'Faust Money').
Oh my what the fuck hell.
what makes it stop? why can't it gone for years and years?
Someday it will be considered a crash when the markets are flat
Tro lo lo lo lo, lo lo lo, la la la, la, lalaaaa
Are you four years old?
I dont understand?
Why did you change your posts all over the thread? You actually took the trouble to come back and EDIT even your stupid little 'song'? What a mental midget you are.
Those are the lyrics to Eduard Khil's song: http://www.youtube.com/watch?v=32UGD0fV45g
Your anger is amusing though and your buttons are easy to push. Cheer up.
I'll bet the Bernak put in more than the daily 3 billion bucks today.
Where's that crazy London cab driver that is known for his epic rants???????
It will continue until one day the markets don't open and everybody finds out they've been "Corzined".
Impaired 5HT functioning has been implicated in two very different psychiatric syndromes: antisocial personality disorder and depression. In both, reduced csf concentration of 5HIAA and blunted circulating hormone responses to 5HT drug challenge have been described. The paradox can be resolved by the theory that the two main ascending 5HT pathways mediate adaptive responses to future and current adversity. Projections of the anterior group of raphe 5HT cells (dorsal raphe nucleus) oppose the action of dopamine and mediate avoidance of threats. Impaired function sensitises the dopamine system resulting in impulsivity and drug addiction. Posterior 5HT cells (median raphe nucleus) innervate hippocampus and cingulate gyrus and suppress memory and awareness of current and past adversity. Impaired function results in low mood, low self-esteem, hopelessness and pessimism. Modern imaging methods are providing startling corroboration of these ideas.
Ranger-- I had to google, 5HT, csf, 5HIAA, raphe 5HT cells, median raphe nucleus, and then attempt to understand your post. I must tell you that this has made me want to hide in a room and get high. I am not sure I should thank you since I rarely feel the need to to interact with others while doing drugs.
The content of RangerRiley's post was plagiarized from:
http://www.ncbi.nlm.nih.gov/pubmed/12830930
What a difference a few hours makes... RR's post was originally a vitriolic one-liner about Bam's dog. I noticed it because I figured RR must be a Corzine fan, lol.
You are a great researcher, find this:
In 1997, to coincide with the publication of The Wonder Book, special "Tenth Anniversary Editions" of the first four books were published with a distinct silver border on their front covers, and added later-introduced characters and objects to look for in every scene, and also moved Wally to different locations from the original versions. These special editions appeared in both standard and "pocket" formats.
Typically, people type "lol" after something funny is written. Give it another try.
Twas a good week. Technical damage already done, let's see if da bears can capitalize next week.
Yep. These are just foreshocks. Patience...
...the fact that they've been doing this now for years says that we've all become inured to the never ending market manipulation, exactly as they intended.
The fact that they don't even try to hide it any more shows that they just don't give a fuck.
it will only end when they CAN'T do it any more... and get away with it.
I don't see that happening any time soon.
S&P500 Daily remains in channel - averages point down. Let's see how they spin this over the weekend.
http://bullandbearmash.com/chart/sp500-daily-falls-20-points-in-five-min...
And earnings season is upon us once again. Let's see if lower growth rates drives the S&P500 up another 10%.
As a fun-loving atheist, I typically favor the simpler, more practical explanation -- you might say I shave every morning with Occam's Razor.
With this in mind, though I don't disagree with the ZH community's opinion of global central bank chicanery, I'll stop short of believing Bennie B.'s minions personally ramped the eMinis today.
Could this instead be a basic example of "sell the news" (or, in this case with bad news, buy), in which the market had been in semi-tank mode for the week (yes, take the 32nd root of 'tank' for these markets), not because of Cyprus or Korean video games, but because those in control had evidence (as we all did) that the job numbers would suck. Then, assuming many trading firms took a "oh, boy this is the watershed event we've been waiting for" approach this morning and were net short by 9:45. the annoying, yet admittedly sophisticated programs that control 80% of trading saw more money to be made in a ramp vs. a further plunge below the lower pivot (and a glance at charts reveals what an abyss lay beneath that final pivot -- several percent on some charts). If, as I suspect, they've seen foreign monies pouring into the U.S. markets after the European close for a few weeks now, they'd realize (in their hexidecimal lucidity) they'd have help once the levitation was started. Individual U.S investors have provided no such spark, so the Trans Europe Express is a godsend to them. Of course, this defies fundamentals, but hasn't that been the case since 2008 ?
Don't misunderstand -- I'm not suggesting those in power aren't in control, but rather than being a big conspiracy, it's simply utilitarian, which is arguably even more scary, for when their calculations suggest a profit from a big plunge, it'll be bungee time without the chord. With Bernanke providing the fuel, only truly shitty earnings can change the calculations given how low global rates are. I suspect today lays the groundwork for this future shittiness to unfold, but until it does, this B.S. will continue.
I need a drink after reading that...
S&P hit its lower BB at the open. It was a good time to BTFD even if you're bearish. Keep your eye on the prize but until then you've got to trade what's in front of you to survive.
As far as BernanQE and the fed buying ES - What is the difference if he is or not when he is goosing the markets with liquidity. So many people are going to get hurt from this bubble. Realities crushed. What matters now is that, the word gets out. Help the sheeple realize that things are not as they seem. That the media lie. Politicians lie. Bankers...heh. To make them concerned enough to peel the onion and find their own truths. And to help them prepare for a very uncertain future.
Bat shit crazy ZHers, I salute you.
Your drink's on me, as it seems, in comparing our posts, we completely agree on my two major points: a) longer term market levitation is purely due to global central bank goosing, providing the path of least resistance; neither of us are happy about this fact b) today's rebound had nothing to do with a) , but was instead a savvy reverse "sell the news" trade.
And, it's interesting that, though your concerns about the sheeple are admirable and shared, thankfully there's precious little evidence they're buying Bernanke's dung, given the large net outflows from equity funds year-to-date documented by the Tylers.
http://www.zerohedge.com/news/2013-03-14/rip-rotation-two-weeks-us-equit...
Actually there have been net in-flows this year into stocks.
Thanks for the drink. If the collapse doesn't kill me, the booze and stress will.
Finally, someone willing to think for once.
Fuck me, the troll agrees with me.
This is getting so old. When will it end?