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Bernanke Unleashes New Record Highs For Stocks
The last 12 days have seen the S&P 500 surge 7.5% - this is the fastest run since the co-ordinated global intervention that started Thanksgiving 2011. The overnight gap open never looked like being tested and volume remained average at best all day (until the 1400ET vert-ramp took us instantaneously above the previous all-time high close - running stops on the way - and pushing volume well 'below' average). Interestingly, the sectors did not enjoy the smash higher that the indices did and all pretty much trod water from open to close (with builders best all day). All indices are handsomely green from the 6/19 FOMC statement and only Materials and Builders are red (-1% from 6/19 FOMC). The same pattern was seen in gold, silver, copper, and bonds (overnight surge higher and then flatline for the day). The long-end of the TSY complex underperformed (-2bps vs 7Y -8.5bps) and as the stock indices exploded to highs, credit markets were not following along (and nor was VIX which dramatically diverged from stocks' exuberance).
Credit did not play entirely along - especially in the low volume explosion into the close.
Underperforming sectors surged to reach back for those FOMC levels...
But from the Gap-open - things were relatively dead...
Best 12-day run in 19 months...
And everything else followed the same pattern of overnight jump and relative stability...
WTI dropped notably on the day (must be all that growth that stocks are pricing in?)...
as the Brent-WTI spread hit $1.50 and then pushed back out again...
and there was a lot of discussion of short-squezes - it doesn't look so much that way - the variation was all at the open and then stopped. Perhaps the stops were all triggered out of thegate or the shorts capitulated at the open but when we see these kind of moves, typically the 'most shorted' outperform much more...
oh and it seems not everyone was enamored with the surge in stocks... as hedgers piled in as we hit new highs... (VIX -0.2 vols only as the S&P rose 1.36%)
Charts: Bloomberg
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Fuckers. I'm going insane in an insane world. See ya
I'm also dumbfounded.
Does Bernanke walk around the Fed on days like today given high fives with a super arrogant strut? Inquiring minds want to know.
S&P adjusted for shadow stats inflation?
Ben wants to go out in style....so what if he leaves janet with a colossal/even larger pile of excrement....i dont see a scenario of him taking any medicine prior to his departure.
$1 says he already googled: "when does Time's Man of the Year get determined?"
Someone replaced the punchbowl with high grade cocaine
What I want to know is -- Who is buying this shit at this level?
I mean... Really?
I know that the HFTs are churning the crap out of every market during the day, but at the end of the day (literally) someone is holding the bag. Is there a way to determine what the net diff is after HFT churn?
I think the difference is called, crapitalizm.
Why does "capitalism" always get dragged into this - even if it's in bastardized form? Is a prostitute a 'crony-virgin'? I suppose it's like saying 'negative-growth'.
Commies are going to Commie..
Here is how it works.
GS owns XYZ stock.
XYZ stock is already in outer space due to GS manipulating it.
on thin volume
GS Sells XYZ from Account 1 to Account 2 which is bidding 1 c higher
Then Account 1 is bidding for same stock one cent higher
This process is repeated over and over on thin volume.
Then Shorts start covering helping GS
Momentum chasers (idiots or geniuses in current bernank world) who see stock is going up also jump in helping GS.
It all will work untill GS quitely dumps all XYZ shares into muppets
I've been asking that same question since S&P 1386. The only comments I got were, 'The banks'....
Arrogant ? Nah...he's one scared shitless short timer tool....the barn door is opening and he wants to make a run for it.
TBTF bankers: "Thanks, Benny ol' buddy...
That shit you blabbed last week about possibly ending QE really worked it's magic...
We were able to scroff up tons of gold and silver when it was lower than whale shit on the bottom of the ocean!
[Patting him on the back] Now it can rise... we got what we wanted...
Now we're set for when equities crash... great plan... worked to perfection!
Oh, and be sure to come see us when you retire... we'll take care of you!"
For all those who can remember, since it wasn't so long ago, China absolutely railing against Bernanke & QE4ever with a fevered pitch, all in all, with China's own (growing deeper by the day) economic crisis now becoming self-evident (not to mention troubles in Brazil, India or Russia), it's just another BRIC in the Wall, bitchez:
China Urges U.S. to Weigh Global Impact When Exiting QENow you may ask yourself**, how did we get here? Is this not the same China that was furious because of QE4ever before? is this not the China that will lead the transition into a new era of global growth and prosperity to come?
And you'd be right to ask that.
*How can you have any pudding (realize your gains) if you don't eat your meat (liquidate)?
Stop trying to use market metrics on a rigged casino. Then it's all crystal clear, making perfect sense.
The only ideas at play here are "shaking out the weak hands" and "controlled collapse."
These people aren't entirely stupid, and I'm very sure they understand Herb Stein's Law of Unsustainability.
correct....... for those that want to watch and wait for the next pump coming, look at the gold and silver miners....DESTROYED......alll designed for the age old shake out before the next big cash register ring........create the fear and put blood in the streets while taking shares away from the weak hands
Well, it's hard to justify "saving" an industry before they've destroyed it.
Nationalization, coming to a formerly productive enterprise near you.
(it's for the children)
Nationalization would instantly mean the country's name gets changed to USSA.
Even if they 'compensate' shareholders, but they do it at a beaten up market price, they will have lawsuits coming out their ass for years, and no new investments (esp. in mining) would be made.
LOL, since when does the "law" mean anything? Especially once it goes martial?
You seem to be forgetting that blatant criminality begets blatant criminality begets blatant criminality begets blatant criminality begets...
As for the "no new investments" idea? Well, of course not!
Are you really not aware that this is THE march to a full "communist"/totalitarian state?
One does not destroy the world's financial system in order to promote competition for investment. ZIRP will destroy all financial systems, leaving only the facade of government left to "Do Something!"
And boy will they ever!
Yep . . . some seem to be stuck in looking at all this in terms of 'economics' and 'finance'. Those are only tools used by the psychopaths to create their fascist neo-feudal New World Order.
Hint for those who don't get it: they don't want to revitalize the economy, they want to destroy it
They want people so broke and desperate that they'll welcome their 'solutions'.
Good article here.
Does Ben Bernanke Have a God Complex?http://www.minyanville.com/special-features/random-thoughts/articles/Doe...
Except for when his lip quivers, I'm not even sure he has a pulse.
So sad to see so many fall for the trick of blame the puppet.
It's probably even less fun than it looks
insane in an insane world - means sane -
You are ok as well as other fellow ZH readers.
Now if you were sane in insane world then you would be insane as majority of current "long" investors
And Insanity is rewarded by insane chairsatan
pin, meet bubble. The Real Big Bang Theory.......................
and on behalf of the few who happened to be long as the tapeworm took hold
bless you Ben, just keep it going a little bit longer
MANBERNKRUG
I think we're all Bubblers on this bus!
maybe one of these days that fucking dbag will be right. nah. just kidding. made you laugh, didnt i??
BE ANALYST: If Bernanke Is Smart, His Next Step Will Be To Increase QE
http://finance.yahoo.com/news/analyst-bernanke-smart-next-step-133850027.html
Countdown until QE is doubled starts now.
I believe that's exactly the next step unless that psychopathic liar Draghi intros negative rates.
We are waaaaay past doubling being of any value (that ole half-life).
Put a zero or two on that bitch, and start thinking like Zimbabwe.
They* just have to make sure Bernanke gets all of the blame first.
(*including the Tyler that wrote the headline)
I'd recommend crash helmets, and no one has the luxury of 6 months to don them.
But then again, people who I've made oodles (of noodles - h/t another ZHer) of money for in the past have bitched about the money they blame me for losing, and even assuming I had any connection to those losses, their gains accrued from my advice heavily outweighed any said losses they blamed me for in relatively minor subsequent episodes.
The crash that is inbound is so easy to see, "even a caveman would notice it." [hint wink nod]
*I thought one would have to see retail sheeple pile in as a top indicator, but won't be the case this time.
so an allocation split evenly bw bonds, equities and alternatives/metals should do what?
liquidate the first two?
The best option - by far - is not to play their game.
S&P is toppy. Bonds will rally in the medium term, but you won't beat inflation. Canada's TSX has not rallied at all the last 3 years, so if US crashes, and TSX crashes alongside, you know there will be better buys over the border. I can't really see TSX being spared if S&P sells off.
Gold and silver, and if you have titanium balls, mining equities. If you use margin or options, just say goodbye to your money.
I certainly wouldn't disagree with you that a crash is not only possible, but more and more probable as the crack up boom accelerates.
blah
The billionaire's best friend.
Are we even out of the second inning yet?
You mean this isn't the opening pitch?
Ya know, I'd do better at keeping up, but somebody took my scorecard. I did receive a nice Spiderman towel at the gate, though.
Hopefully I can wash that awful smell out of it later.
You're a real froody dude.
if we ever had a day like this to the downside, you can bet your life on it that futures would be up enough to offset losses this steep.
however, when we have up days like this, like today, we will either be up like 50-60 pts tomm on dow, or flat to the downside.
truly amazing how this scam works.
wfc and jpm report tomm, prob report flat numbers, but it means shit in this market.
once the kraken is released it cannot be brought back. unless it's dead ofc.
markets will either be more bullish in the future or collapse completely. there is no in between.
the fed is running the show.
This is absolutely sickening and disgusting.
How the fuck are we expected to contemplate and "analyze" what's going on when there's nothing on display but crime, lies and pretending?
Can anything (except PM prices) crash any more?
This is totally crazy. Paging black swan, paging black swan...
The "markets" are so rigged, when the shit hits the fan, it's going to be epic.
Fucking just disgustipated.
All the ramps this year have seen volume decrease to the peak. Conversely, all the corrections have seen increasing volume to the trough. There has to be only 2 or 3 algos left running this casino.
Nothing will change until trading desk can't pay another trading desk and since BernanQE is paying for all of the trading desks, I have no idea when it will end.
Bernanke is using fake money to steal peoples hard earned 'money"
Things are looking up! Heh.
Once again BTFD rears its ugly head. You are simply not allowed to sell. Those that do will watch as the stock they held climbs 10-20% in the days after they sell.
The only people allowed to sell for good are insiders who are simply granted more shares.
In Bernanke's market you are only allowed to buy, or sell so you can buy some more. P/E 1000 or even negative P/E, so what, just buy. There will always be another buyer because as long as Ben fronts the money, the hedge fund doesn't care what the price is, they know the stock will be at least 10% higher when they want to sell.
You are never allowed to cash out. Any winnings remain in the casino. Sure it looks like you're winning, but when they decide the deck will change, your winnings will go right through the slot in the table, and you won't even see it happen.
I'm just sick of seeing the absolute filth of society running away with the spoils.
Priced to perfection. For runaway inflation, any way.
Right around that trendline, tommorow could be a fed reversal day. Not banking on it but possible. Other than that same ole tricks still working must still have a fucking stupid audience.
YES, is the answer.
ZH challenging if anyone was foolish enough to buy the last dip, was the question.
Isn't technical analysis about exploiting patterns? When has buying the dip not been rewarded of late? When it stops working, the ignorant fuck who blindly bought the past 4+ years will still be sitting on a 50%+ gain.
Only if he can get out. Remember what happened to those that couldn't trade overseas on 9-11?
Math question for The Bernak:
If binny has no money and the first day Binney takes away $5, the second day he takes away $10, the third day he takes away $14, how long will it be before they take Binney away?
Certainly makes you head spin watching this madness. None of it makes any sense whatsoever.
My advice? Go for a nice walk out in the woods or on a beach. Appreciate the good things in life. Smile.
I did that last weekend, found myself wondering if even the sea was fucking real.
Yes friend, cesuim is real.
Or Core-exit, if you're on the Gulf/East Coast.
One wonders if ZH's Racial Descrimination policy would apply to the finance women of Bloomberg, Guardian etc and assorted hangers on in this very current twitter chat about Jewish Men (not sure if Mr. Bloomberg is on their list)
https://twitter.com/moorehn/statuses/355418615559880705
for example:
just in case they delete http://ctrlq.org/files/screenshots/4a5f177416623d324239f996014c3999.png
I'm so disturbed right now.
We call this the "return to normal" phase of an asset bubble.
Fed Dollars = The New Democracy = $$$$ ... $$$$ !
I have taken some money off the table as a precautionary measure in order to buy some PM's and other essentials,before the Fiscal Cliff comes into view.
I took my son to see Turbo. It had a great line when the main character talks to another. It is exactly what I think whenever I hear Bernanke.
Turbo says, "You're insane!"
The other character replies, "Insane, or course I'm insane. What have I ever done that makes you think I'm sane?"
Hooray for FRAUD. Everyone's a winner.
the farce is strong with this one
Admit it all you hypocritical motherfuckers...
~~~
You LOVE that your GOLD & SILVER [& maybe even 'stawks'] are up [& that your cushy lives are in the hands, 24/7, of jewish bankers that don't have a way out except to print MOAR money, mostly for THEMSELVES... but you're moar than happy to stand in line for the sloppy 2nds... You know... FOR THE KIDS]...
Francis, its all coming down. The real show doesn't start till they try to be in charge of the NEXT incarnation of the USD.
Bernanke is called "Helicopter Ben" for good reason.
He will keep printing and devaluing the US dollar until they get the results they want. Even if the results never materialize.
We all know the Federal Reserve is stuck buying US debt until the value of the US dollar breaks the record lows.
He told his son to borrow as much as he can for medical school, over $400,000, because he knows he is going to trash the US dollar and make it worthless.
China owns a lot of dollars as well and they are not happy!
Don't worry, this will end well and exactly as planned by Bernanke and his fellow bankers.....
http://www.youtube.com/watch?v=jKb0v27N3xc
behind all this I beleive is the currency war between China and the US!
Hey Bernanke...
The Who - Who Are You Lyrics (FULL VERSION)
http://www.youtube.com/watch?v=r5kmCgVhADY
surprise, surprise, we got new highs... does anyone understand money printing yet?
*yawn*
You ever apply a fulcrum point to your silver wear collection?
Marc Faber was right..... so far. Bernanke tested the waters by floating the idea of a taper, got slammed for it. Now he knows there is no turning back. Print until collapse ( QE exp infinty).
I believe we are witnessing a "purposeful destabilization" of the world financial systems.
I think this is appropriately prescient, in an artsy-fartsy way -
Video here: https://www.youtube.com/watch?v=lf6vCjtaV1k
There's a problem, feathers iron
Bargain buildings, weights and pullies
Feathers hit the ground before the weight can leave the air
Buy the sky and sell the sky and tell the sky and tell the sky
(chorus)
Fall on me (what is it up in the air for) (it's gonna fall)
Fall on me (if it's there for long) (it's gonna fall)
Fall on me (it's over it's over me) (it's gonna fall)
There's the progress we have found (when the rain)
A way to talk around the problem (when the children reign)
Building towered foresight (keep your conscience in the dark)
Isn't anything at all (melt the statues in the park)
Buy the sky and sell the sky and bleed the sky and tell the sky
(repeat chorus)
Fall on me
Well I could keep it above
But then it wouldn't be sky anymore
So if I send it to you you've got to promise to keep it whole
Buy the sky and sell the sky and lift your arms up to the sky
And ask the sky and ask the sky
(repeat chorus 2x)
Fall on me
(repeat chorus)
Fall on me
(repeat chorus)
And the major short squeeze on the AUD from 90 (bounce off the 5ma - HFTs) to 93, then collapse beneath the 100ma (daily) at 91. A bearish correlation trade for commodities and possibly bonds (Asia).
ctrl +p benny shalom monkey butt
Maybe Bernanke truly is the miracle worker the world has been waiting for. Kudlow converted to True Believer.