This page has been archived and commenting is disabled.

And Another Vertical Stock Ramp

Tyler Durden's picture




 

Update: we have isolated the reason for the ramp. The latest stop hunt in the Stalingrad & Poorski 471 is attributed to the Chinese finance minister Lou who said that China H1 growth will be slower than 7.7%. Remember: the faster the global economy goes to hell in a handbasket, the faster global equities hit infinity.

* * *

Whoever said perfectly broken and centrally-planned markets were boring.

In this space we would normally insert a chart of the S&P500 here but that would just be waste of NSA spy server space: just imagine a flat line and then a sudden vertical spike higher to new all time record highs on absolutely no news.

Some attribute the rapid move to a rumor that Hilsenrath will release an article explaining what Hilsenrath said on TV earlier today. Most, however, just don't care anymore.

What is there to comment: the house of cards will keep rising until there is a gust of wind.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 07/11/2013 - 14:40 | 3742283 yogibear
yogibear's picture

Thanks to Bubble Bernanke and the Fed.

Thu, 07/11/2013 - 14:43 | 3742300 Oh regional Indian
Oh regional Indian's picture

At some point, the assisted vertical erection will last longer than 4 hours, and then the trouble will really begin....

ori

 

Thu, 07/11/2013 - 14:52 | 3742307 Cult_of_Reason
Cult_of_Reason's picture

Hopefully it was that gigantic short position flushing out that did not allow the stock market to have any pullbacks today (even after Hilsenrath confirmed Bernanke did not say anything new yesterday).

Thu, 07/11/2013 - 14:52 | 3742337 asteroids
asteroids's picture

There is NO way a short can hold onto a position overnight with the FED printing and interferring. It's suicide. I hear bond shorts got blown up last night due to the Chairsatan. I guess some of them are now pissed. the FED IS the stock market, they have cornered it. Only the FX and bond markets have enough sense and balls to stop the madness.

Thu, 07/11/2013 - 14:59 | 3742366 Bay of Pigs
Bay of Pigs's picture

How do bond "vigilantes" fight the printing press and the bond monetizing FED?

Those guys have been in cement shoes and on the ocean floor for years now, haven't they?

Thu, 07/11/2013 - 15:01 | 3742374 flacon
flacon's picture

I bought $120 worth of (Russell 2000) IWM puts at 2:35pm. Jul 20 101 puts. It may go to zero or to hero I don't know. It's not a lot of money but the odds are increasing that we could get an overnight (or day) flash crash. 

 

http://stockcharts.com/h-sc/ui?s=$RUT&p=D&yr=0&mn=3&dy=0&id=p11966684246

 

Thu, 07/11/2013 - 14:54 | 3742339 e m m
e m m's picture

And not just the US market, Europe too. But I would bet the whole thing is so liquid, that gigantic stop that was taken out now was like sub 100 contracts (if they even need 1 contract to move the needle).

Thu, 07/11/2013 - 15:00 | 3742359 Cult_of_Reason
Cult_of_Reason's picture

Look at ES, volume on this pop was larger than the opening volume (usually the highest for a trading day) -- some major stops were just taken out.

Thu, 07/11/2013 - 15:01 | 3742375 ACP
ACP's picture

Yes, that would be stop run #2, #1 was yesterday. May be exciting tomorrow.

Thu, 07/11/2013 - 14:57 | 3742356 slaughterer
slaughterer's picture

I hope nobody here is shorting any indices.  They are all relentlessly climbing without let-up or cover opportunity.  

Thu, 07/11/2013 - 15:05 | 3742387 flacon
flacon's picture

Blow-off-tops come down just as fast or faster than they went up. Seems like everyone but a few stragglers are on the long side. What happens to a ship when everyone is on one side? At some point the big boys will reap the harvest and take everybody's money except for the stragglers who are opportunists. 

 

Maybe I'm totally wrong... I don't know... but this market is destined for a heart attack. 

Thu, 07/11/2013 - 23:59 | 3743990 im2of5
im2of5's picture

Indeed we should be thankful to whatever props up the markets and increases the profits of those of us who follow trends and are long in the market, as well as do those whose 401Ks are up very nicely.

With all due respect to ZH, all that electronic ink that has been spilled on the site for 5 years now, hoping to see the markets crash along with the US economy, none of that has happened and hopefully will not in any substantial way.

Just wake up and stop expecting a 2008-9 repeat. Been there, done that. Make money by following trends and not by waiting for a Black Swan event. That's not a way to profit from Investing.

Thu, 07/11/2013 - 14:40 | 3742284 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

I love the smell of napalm in the morning.

Someday, QE is gonna end.

Thu, 07/11/2013 - 14:45 | 3742310 yogibear
yogibear's picture

The Fed QE won't end unless their forced to end it.

Thu, 07/11/2013 - 15:13 | 3742419 SpiceMustFlow
SpiceMustFlow's picture

I watched a frumpy bearded jewish guy crawl along the edge of a straight razor. That's my dream; that's my nightmare. Crawling, slithering, along the edge of a straight razor... and being sliced in half.

Fri, 07/12/2013 - 09:12 | 3744626 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Ha!

Thu, 07/11/2013 - 14:41 | 3742285 RockyRacoon
RockyRacoon's picture

I'm in graph withdrawal!  Where's my graph?

Post some just for fun, even unrelated, to overload the NSA servers -- not spare them.

Thu, 07/11/2013 - 15:04 | 3742386 Theta_Burn
Theta_Burn's picture

Here here,

I like your thinking, hows about, if enough of us were to say send back and forth an image of a bernanke likness sucking a 2 foot horse dong?

 

Thu, 07/11/2013 - 14:41 | 3742287 Zerozen
Zerozen's picture

Like Tyler said...we're beyond caring

Wake me up when the S&P hits 10,000

Thu, 07/11/2013 - 14:42 | 3742292 thismarketisrigged
thismarketisrigged's picture

at this pace, next week sounds about right

Thu, 07/11/2013 - 14:41 | 3742288 thismarketisrigged
thismarketisrigged's picture

i cant even imagine how big the ramp will be at 330 like usual.

 

dow 15,500 and s&p 1700 by days end? with these criminals anything is possible.

 

i think the rumor that sent stocks up was that the sun is going to come up tomm. trying to confirm though.

 

dont worry, we should see a pullback tomm, maybe shave 20 pts off the dow and 2 pts off the s&p of course before ramping next week up to the 16,000 on dow and 1800 s&p

Thu, 07/11/2013 - 15:27 | 3742408 johngerard
johngerard's picture

QE is not going to end. They will shovel trillions more in for years to come. Oh sure, we'll get the occasional replay of two weeks ago - big fucking deal, just BTFD. If they genuinely stop, or even indicate that they will for sure, the markets will melt down and burn through the earth's core like a shaped charge. It will make the last one look like a wet fart.They know it.

By the end of this decade, we will have Dow 30,000. And I'm not even joking. When you see the S&P go vertical on...nothing, you know it makes sense.

Trade of the next ten years? Gold and go long stocks. Walk away.Gold's correction will be over by the end of the summer, then I am filling every fucking bucket, bag and box I can get my hands on.

To those of you shovelling money into shorts expecting a zerohedge collapse, you're pissing your money away. IT'S NOT GOING TO HAPPEN. DON'T YOU GET IT YET?

Thu, 07/11/2013 - 14:42 | 3742294 NoDebt
NoDebt's picture

"to new all time record highs on absolutely no news. "

No news that YOU are aware of.  Not "no news."  There is a difference.  Somebody got a tap on the shoulder.

Thu, 07/11/2013 - 14:45 | 3742308 CClarity
CClarity's picture

No news?  C'mon.  The cable news channels can't stop "reporting" on Zimmerman.  They must actually want to incite race riots on verdict.  More news to cover, eh?

 

Thu, 07/11/2013 - 14:43 | 3742295 sudzee
sudzee's picture

CNBC headline:
Surprise - huge budget SURPLUS

Should be good for 1000 points in the next 24 hours.

Thu, 07/11/2013 - 14:43 | 3742296 slaughterer
slaughterer's picture

I feel like I am in a science fiction movie watching AMZN cross $300 with no earnings whatsoever.  

Thu, 07/11/2013 - 14:47 | 3742317 kralizec
kralizec's picture

Shows how well The Bernanke can blow.

Thu, 07/11/2013 - 17:29 | 3742939 One eyed man
One eyed man's picture

Greenspan could only blow one bubble at a time. First the dotcom bubble, then the housing bubble. It looks like Ben is going to reblow both bubbles at the same time.

Thu, 07/11/2013 - 14:43 | 3742297 Deathrips
Deathrips's picture

Unicorn shit makes markets grow...really really big.

Fuck You Bernanke..you corporate assplug.

RIPS

Thu, 07/11/2013 - 14:43 | 3742301 Nid
Nid's picture

So we are operating on the premise that Bernanke knew the impact that his prepared answers to his pre-prepared, planted questions would have on stocks, correct? With that stipulated, must it be the case that Bernanke's got this shit so tightly wired that it is impossible for the market to crash? 

Thu, 07/11/2013 - 14:44 | 3742302 azengrcat
azengrcat's picture

22222222222222222222222222222222222222222222222222

Thu, 07/11/2013 - 14:46 | 3742304 TomGa
TomGa's picture

Phil Collins  - "I Don't Care Anymore"

http://www.youtube.com/watch?v=2dEz2aBAx6I

 

Pretty much sums it up....

Thu, 07/11/2013 - 14:44 | 3742305 tecno242
tecno242's picture

well lets see... we've got a treasury bubble, a high yield bubble, corporate debt bubble, and adding a stock bubble... 

awesome... this should turn out well.

Thu, 07/11/2013 - 14:46 | 3742312 1835jackson
1835jackson's picture

Some gusts of wind can be very violent and arrive without warning....

Thu, 07/11/2013 - 14:46 | 3742314 katwoman
katwoman's picture

If it's worth anything, I trade Vix futures and spreads, and they ain't buyin' it...

Thu, 07/11/2013 - 14:49 | 3742322 Nid
Nid's picture

Until the FRBNY trading desk unleashes a massive VOL dump at 3:30 PM EDT.

Thu, 07/11/2013 - 14:55 | 3742345 katwoman
katwoman's picture

Everything I am seeing in the Vix says vol isn't being sold here.  But who knows what the next half hour will bring.

Thu, 07/11/2013 - 14:47 | 3742316 Id fight Gandhi
Id fight Gandhi's picture

Wish silver and gold would wake up to at least some of this.

Thu, 07/11/2013 - 14:48 | 3742319 yogibear
yogibear's picture

If the thought of any negative fed action was bad, it will be even worse when the DOW is at 20,000 or 30,000.

Like a run-away train now.

Thu, 07/11/2013 - 14:50 | 3742323 Dr. Engali
Dr. Engali's picture

No news is good news, bad news is good news, and good news is good news....it's all good. Just BTFD!

Thu, 07/11/2013 - 14:55 | 3742346 fonzannoon
fonzannoon's picture

I am probably going to start dumping all my bonds for clients and add to whatever equity positions my clients were lucky enough to have. Same thing with cash. Wtf am I fighting against this for? If it breaks, it's going to break on such an epic scale that it won't matter anyway. Might as well ride the wave.

Thu, 07/11/2013 - 14:59 | 3742362 yogibear
yogibear's picture

Everyone is now thinking the same thing. Unlimited QE for years.

Thu, 07/11/2013 - 15:22 | 3742445 Dr. Engali
Dr. Engali's picture

The way I see it is if he doesn't say anything to derail this pig at the next meeting then we ride this until it blow up.

Thu, 07/11/2013 - 15:23 | 3742459 fonzannoon
fonzannoon's picture

He is not going to say anything to congress. He is going to show up, unzip his pants, and let them all fight to yank his crank for 4 hours.

Thu, 07/11/2013 - 14:52 | 3742334 orangegeek
orangegeek's picture

The last 12 days on the NASDAQ100 have been an "intraday step function".

 

The charts have gone "digital". 

 

Add it to the pending shit show.

Thu, 07/11/2013 - 14:55 | 3742340 falak pema
falak pema's picture

how come these HF are so useless and can't benefit from these verticals that are practically pre-anounced by Ben himself.

When you have ZIRP funding And Ben trumpeting how can you lose?

These HFs must be run by the TDs of this world; totally disconnected to BTFD!!

Even a dumbass can make money on CP plays.

 

Thu, 07/11/2013 - 14:54 | 3742343 semperfi
semperfi's picture

Ever see Zimbabwe's stawk market ramp? 

Thu, 07/11/2013 - 14:57 | 3742357 yogibear
yogibear's picture

Benny and the Injets at the Fed liked Zimbabwe's stock market action and want to emulate it.

P

Thu, 07/11/2013 - 14:54 | 3742344 Cheeseus Sonofdog
Cheeseus Sonofdog's picture

Can somebody show me the exact words where Bernanke promised he wouldn't taper? I can't find them. I know he said the Fed will be accommodative for the foreseeable future, but they already explained that is how tapering will happen. I can't believe the markets are rallying on such an inane comment...

Thu, 07/11/2013 - 14:56 | 3742353 fonzannoon
fonzannoon's picture

"Can somebody show me the exact words where Bernanke promised he wouldn't taper? I can't find them"

Because he did not say them. He said, "I am going to taper, because I have to...and I will point this loaded gun right at your head while I attempt to do it. If you try to front run me by selling I will blow your brains out."

 

Thu, 07/11/2013 - 15:00 | 3742370 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

He did not promise not to taper. In fact, taper is on. Unless the shit hits the fan and taper is delayed.

Its ZIRP that is 4eva. Peeps were nervous that ZIRP was on the block. Like A, then B.

Strange how the inane can dovetail perfectly with the insane.

How does Ben get the smoke back into the bong? He simply inhales.

Thu, 07/11/2013 - 15:18 | 3742438 FreedomCostsaBu...
FreedomCostsaBuck-o-Five's picture

Is his facial hair really there to cover those bong-stained lips of his?

Thu, 07/11/2013 - 14:55 | 3742347 max2205
max2205's picture

Wow, Shock, Awe...send in the drones

Thu, 07/11/2013 - 14:55 | 3742348 Yen Cross
Yen Cross's picture

    Japan might have a tough day. That U.S. 30 year auction looked weak, so the Japs aren't piling out of long yen positions. The Nikkei isn't going to like the yen strength over the last few days. (assuming there's one iota of sanity left in the markets)

Thu, 07/11/2013 - 14:59 | 3742363 U4 eee aaa
U4 eee aaa's picture

How can you tell the Fed has lost control?

When gold goes up with everything else

Thu, 07/11/2013 - 15:01 | 3742371 yogibear
yogibear's picture

Bernanke and the Fed are saying make this stock market climb epic. Zimbabwe or bust!!!!

Thu, 07/11/2013 - 15:01 | 3742372 news printer
news printer's picture

Egypt has less than 2 months imported wheat left: Ex-minister

World's biggest wheat importer sees dwindling reserves, signalling shortage more acute than previously revealed

http://english.ahram.org.eg/NewsContent/3/12/76232/Business/Economy/Egypt-has-less-than--months-imported-wheat-left-Ex.aspx

Thu, 07/11/2013 - 15:04 | 3742388 cossack55
cossack55's picture

There is some extra Frankenwheat in Oregon that can be shipped in vacuum containers as early as tomorrow.  

Thu, 07/11/2013 - 15:13 | 3742415 optimator
optimator's picture

Will be of mild interest, but boring, to see if they ramp one more time the usual 3:19:59 as they do every day.  Even if it's already ramped to 150?  Big Boyz just can't lose on this one.

Thu, 07/11/2013 - 15:26 | 3742476 optimator
optimator's picture

Yup, Binny's free, no risk bucks, do it again.  I set my watch by the ramp by the way.

Thu, 07/11/2013 - 15:18 | 3742442 ...out of space
...out of space's picture

oh just a cuple more pips on sp and we gonna see all time hige (again). i gues its must a good thing that macro dont count in a free market.

too bad that ben didnt sing this song yesterday 

http://www.youtube.com/watch?v=mWTRWhv0Fa0

Thu, 07/11/2013 - 15:22 | 3742453 venturen
venturen's picture

The Death of Apathy!

Thu, 07/11/2013 - 15:25 | 3742470 Downtoolong
Downtoolong's picture

Dear Ben,

Thanks for all your help in perpetrating the stock market wealth effect. It has been so beneficial to me that I feel I don’t need to take risk chasing yield anymore. So, I just moved all my investments into gold, short term bonds, and other safe investments for the long haul. I’m sure you can see the logic in this strategy and trust it was part of your plan all al……….

Ben, what’s the matter? Why are you crying? This is great news for me.

Thu, 07/11/2013 - 15:26 | 3742474 The Contrarian ...
The Contrarian Investor's picture

"The nature of the bubble is that eventually it will be pricked, and then as with a child's balloon the air may escape sharply". Charles P. Kindleberger

 

 

Thu, 07/11/2013 - 15:33 | 3742504 youngman
youngman's picture

They have to know what they are doing...and in knowing such...know they cannot stop.....

Thu, 07/11/2013 - 15:35 | 3742518 amadeusb4
amadeusb4's picture

I believe that's just a run at ZH reader stops. Very profitable for Goldman which yet again brings up the prospect that ZH is actually run by a Goldman proxy.

Thu, 07/11/2013 - 15:54 | 3742587 robnume
robnume's picture

Gee, sounds as though someone's vtal signs ain't lookin' so good, huh? Hope they die soon.

Thu, 07/11/2013 - 16:14 | 3742659 Yen Cross
Yen Cross's picture

    Definition of "Blow Off Top" > Ref; Week of July 8-12-2013, ES and DOW charts...

Thu, 07/11/2013 - 17:10 | 3742871 Mesquite
Mesquite's picture

Tnx Tyler for the article's humour..

Between that one and today's Max Keiser..

Good chuckles..

On another note, looks like market can now do it's appropiate pull back..

And the army of spin doctors, er, excuse writers, can go to work now..

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