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Early FX Indications: EURJPY Slide Implies 15 Point Futures Drop At Open
In a world in which only the central banks' balance sheets matter, and everything, when stripped of its product complexity, is simply a derivation of a cheap money carry trade, as can be seen on the chart below showing the correlation between the the ES and the EURJPY which have become interchangeable...
... then the futures open in 4 hours should be interesting following the early weakness in both EURJPY and USDJPY.
The AUDJPY is having an even worse day following Saturday's news of a big export miss in China:
Interesting because the implied 15 point ES drop in futures as of the early indications...
... is hardly the large enough drop that is needed to once again the GOP in either the House or the Senate to scramble and get a deal done, following the recent two-day epic surge in the market on hopes that deal concerns would no longer be an issue.
Charts: BBG
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PMs will get pounded to keep the $ aloft.
I hope so, I need more Au fractionals :o)
Tomorrow will be an UP day. Watch.
I agree but for the stawks, not the PMs. I expect another low-volume on no news rally to turn the S&P and the Dow green by the end of the day. PMs will be crushed either before Tokyo/Hong Kong open or around London fixing, as has been the norm.
PMs are very risky! Why would you want to hold a shiny 1 oz gold coin when you could have risk free U.S. t-bills? ;)
Check AUDJPY, down 0.8%
POS Schumer is sweating and sucking on GS dick
A lack of foreskin makes it more hygenic.
The real issue unfolding is the Sequester. There is a LOT of talk all of a sudden of cracking the caps.
It has proven to be the ONLY restraint on spending we have ever seen, but they are essentially desperate for fiscal stimulus now that the word taper has been injected into the lexicon.
The market algorithms will be tuned not for "deal" but for going beyond the caps. That is just more sugar for the G parameter in the GDP equation.
Reality check coming for politicians who have ideological differences with the FED. It is too late to put the brakes on this out of control train wreck.
usd/jpy is showing a forty pip gap down from Friday close.
if s&p futures are only down 15 fucking points when the futures open, i will fucking punch a whole in my wall.
after all of these ''great progress'' talks that were being had and the dow and s&p being up 500 and 45 pts respectivley on that bullshit, now that we here that talks have stalled, that is all we get?
futures better be down minimum 40 points just to start. truth is the s&p should be down at least 100 tomm, but i am expecting a bullshit rumor later on just to prop up markets.
They will end the day green. Any resemblance to a rational free market was gone long ago.
Holding a fresh 400 BAC Nov. 14$ put options, I can only giggle at the thought of 40 points! I can't believe they were dirt cheap!
The only guy who makes money tomorrow is your plaster guy...
After the last few years, my walls are starting to look like a stinking block of swiss cheese. Time to start punching something else instead. If only I could put one uspside Ben and Barry's melon.
Save Your Money! it's a Buy The Fu***** Dip Scheme. Just Do It. Merill Lynch is Bullish on America.
Only 15 points?
If the market were even close to rational the highest it should open on Monday is the closing price on Wednesday, before the hope rally.
That would be at least 45 points from Friday's close.
Houston we have a problem...
That depends to whether it's a planned sell-off or a crisis-sell-panic. Look at the behaviour of bonds and gold to come to the correct conclusion.
The big boys (Fidelity, Pimco, GS, JPM, etc.) all see massive risk. That means: EQUITY RALLY & SELL VOLATILITY AS IF THERE IS NO RISK AT ALL! Some BS rumor will come to spark the rally at some point, right?
You are all mistaken, this is BULLISH!
The more Obama rejects offers the more rumor rallies we can have!
If he had taken the first offer, we would only have gotten (1) 500 point ramp....we should able rumor and ramp this thing at least 2x or 3x before the deal is finally reached, each worth about 300-500 points, evetually gaining 1000-1500 points in total.
We need to leave the market in a constant state of deal-almost-around-corner ramp readiness at all times!
i concur, most definitely bullish!
or at least an opportune moment to buy the dip
BULLISH!!!!
BEARISH!!!!
FUCKEDTHEHELLUPISH!!!!!
This weekend I've put all my checking accounts at zero and withdrew everything in cash bills. I wonder if there'll be a shitstorm next week but I'm not going to risk it.
http://www.zerohedge.com/article/buy-dip