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Is The Taper On Or Off Today?

Submitted by Tyler Durden on 07/01/2013 13:25 -0400

It appears the credit and equity markets are in disagreement over whether good is bad or good...

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Mon, 07/01/2013 - 13:37 | 3710677 fonzannoon

Most of my dividend payers are sucking ass today. I wonder if someone believes the next move in yields is up.

Mon, 07/01/2013 - 13:41 | 3710691 The Master

Bernanke and Co. definitely had a preliminary look at June's NFP before the FOMC meeting. I think it's going to come in at 200K+ and bring the taper talk back to the fore following the holiday weekend. I'd go short ES Thursday.

Mon, 07/01/2013 - 13:45 | 3710706 kito

taper talk wont stop the market from moving higher...........i have said this 1000 times......its the faith in the bernank that moves the markets.....faith is still there....if the bernank says jump.....the moneymen jump......if he says economy is improving and its time to taper because the economy has got its legs back....then by golly.....BUY STAWKS!!!!!

Mon, 07/01/2013 - 13:59 | 3710760 stocktivity

What's going on??? Last week bad was good....this week good is good. Geez I'm confused. All I know is It's all Bullshit!!!

Mon, 07/01/2013 - 14:08 | 3710784 Cult_of_Reason

Apparently Blankfein rimmed Bernanke's asshole over the weekend again and begged Bernanke to delay the taper.

Mon, 07/01/2013 - 14:05 | 3710778 fonzannoon

the path to me seems to be higher yields, lower gold, and stocks choppy slightly to the downside.

Basically everyone loses.

Mon, 07/01/2013 - 13:46 | 3710712 Its Only Rock N Roll

There is no next move IMO. Yields are and will continue to move higher. Bullish flags on the bulk of the yields of the 4-10 year of the curve. FVX and TNX moving towards 1.75% and 3% respectively.

Mon, 07/01/2013 - 14:32 | 3710878 Panafrican Funk...

That 2.5% on the ten year is being vigorously fought over. Lot of money at stake around that number.

Mon, 07/01/2013 - 13:38 | 3710679 Dareconomics

Credit continues to deteriorate, but stocks are holding their own. This should be a low volume week with a rise in the market.

http://dareconomics.wordpress.com/2013/07/01/around-the-globe-07-01-2013/

Mon, 07/01/2013 - 13:45 | 3710705 Cognitive Dissonance

Ummmmm.....last week was a low volume week with a rise in the market. :)

<I can name that tune in one note.>

Mon, 07/01/2013 - 13:47 | 3710715 Dr. Engali

Every rise in the market since 08 has been a low volume melt up. Every sell off has been on high volume. That's the sign of a good healthy market no?

Mon, 07/01/2013 - 14:01 | 3710767 put_peter

volume is easy to manipulate higher. Just let the robots trade like no tomorrow. Of course nobodys making money but the volume will be high.

Mon, 07/01/2013 - 14:19 | 3710828 EclecticParrot

Respectfully, I think I agree more with the good Doctor on this one. Typically, these markets have been manipulated w/o volume, rather than the reverse (volume itself padded). Take today's Russell frothy-mouthed rabies ramp, at one point up close to 2% (!) on abysmally low volume -- and they kept it going nearly till 2:00 before it rolled over on its own fraudulent ballast. I think they know new shorts came on the last few hours of 2Q trading, and they're using the lack of volume to roast 'em like marshmallows.

Will be interesting to see if they get back to the day's high before the close -- that'll tell us the whole holiday week will require dodging this horseshit.

Mon, 07/01/2013 - 14:35 | 3710887 put_peter

I sort of agree but what i meant was the with a thin market it may appear to be a high volume trading but actually the 'real' market is as thin as it has been earlier.

Mon, 07/01/2013 - 14:49 | 3710944 Panafrican Funk...

http://seekingalpha.com/article/1525982-vix-futures-margin-requirements-to-increase-after-today-s-close?source=yahoo

Pretty good article highlighting a recent sharp uptick in VIX futures margin requirements.

Mon, 07/01/2013 - 13:45 | 3710707 Dr. Engali

Yes

Mon, 07/01/2013 - 14:25 | 3710859 Headbanger

Mon, 07/01/2013 - 13:46 | 3710711 put_peter

Fraud on fraud off. Wait a minute it cannot be turned off!!!

Mon, 07/01/2013 - 13:46 | 3710713 Devotional

Taper or no taper, Portugal's finance minster just stepped down. I am not looking any other way, it is GOLD for me - period. There is no way this monetary experiment is going to end well. Bank failures coming for sure, we are gonna be cyprused on this side of the Atlantic. Screw the taper!

Mon, 07/01/2013 - 13:50 | 3710720 slaughterer

$5b POMO on Wed. half day trading with B Team in charge. Direction is usually up in these circumstances.

Mon, 07/01/2013 - 15:02 | 3710987 Panafrican Funk...

Yeah, I think Friday will probably be a nothingburger as well, the 8th will be an interesting day.

Mon, 07/01/2013 - 13:51 | 3710730 JFKFC

The September Taper will be negotiated (by the GOP) into the September Debt Ceiling showdown. They need a market downturn to blame on ObamaCare & Dodd/Frank to give them the long-sought economical political leverage to make an impact (in 2014).
Then comes war to get to S&P 2000 bitchez.

Mon, 07/01/2013 - 13:54 | 3710744 nickels