Record Dow, Nasdaq, S&P, Russell, Bitcoin And US Debt

Tyler Durden's picture

Volumes - expectedly - were extremely light and so, we all know what that means: a dash for trash meltup. NASDAQ keeps powering ahead as the S&P and Dow recover from yesterday afternoon's cliff dive. Trannies now up 13.3% off the debt-ceiling lows 5 weeks ago... sure, why not. "Most shorted" names outperformed once again but it seems investors, while not wanting to sell, are happy to bid for protection as VIX diverges. Credit markets also diverged bearishly today. Stocks disconnected (a la yesterday) from JPY carry briefly but rapidly caught up in the low volume churn. Bonds leaked higher in yield (unch on the week now); the USD pushed higher after Europe's close (back to unch on the week); but inventories and USD strength weighed on oil prices and precious metals limped modestly lower.


NASDAQ is playing catch-up to the Trannies...


The "most shorted" names continue to push higher on momentum from yesterday's major squeeze after the attempt to sell on Monday...


Another day of divergence and convergence with JPY carry trades - this time sellers banged higher by the carry arbs...


VIX has been relatively well bid for the last week as managers appear loathe to sell but desirous of protection (VIX is notably rich relative to realized vol)...


Credit markets diverged notably on the day...


Oil slumped and commodities in general slid lower...


The USD rallied back to unch on the week led by notably JPY (and AUD) weakness...


Since the previous October 2007 highs in stocks, the S&P is +14.5%, The Long Bond is +19.3% (price), and Gold +68%...


Finally, putting everything into perspective, US Federal debt joined the party, obviously, and just printed at a fresh all time high of just over $17.2 trillion


Charts: Bloomberg

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l1b3rty's picture

how many ounces of silver for one bitcoin these days??? 40?

Running On Bingo Fuel's picture

How long until 9/10 of all ZH posts are bitCon posts?



EscapeKey's picture

we still have a little to go. but soon, the bitcoin army will start stuffing bitcoins down your digital throat


HulkHogan's picture

I'm fucking PISSED! I'm getting a non compete stuffed down my throat right now. Anyone know how to avoid these fucking things.

Harbanger's picture

I'm riding bitcoins for a while but I'm looking to get out soon.  It's almost impossible to tax the profits made from bitcoin.  That creates a big problem for the redistributors of wealth.

fonestar's picture

So if you realize this is the new tax-haven why would you jump ship?  You couldn't force me off this boat if you tried.

Harbanger's picture

I'm riding it but I don't expect it to last because the globalists rule the day for now.  It's a no brainer to put your fortune into bitcoins to avoid taxation.  As long as they rule, you are not allowed to play outside the system, our problems are not so much financial as they are political.

fonestar's picture

Well they may have the power but it is not absolute, they are not omnipotent and they would also not be the first ruling elite to go the way of the pharos.

Harbanger's picture

+1, They will go the way of Pharoah.  For now, I'm playing the game by the rules set before me.

max2205's picture

No earnings AMZN is gunning for $400

thisandthat's picture

Comment: Can't they use a Bitcoin metal detector? :)

joego1's picture

How many people are going to hang on to their bitcoins when the panic starts up?

fonestar's picture

When the panic starts, Bitcoin will be exploding in Asia and Europe!  Yay for me!

Prisoners_dilemna's picture

Also when we fly to Asia...

we wont need to stuff any monies up our butts to take it with us.

Yay! lol

I couldn't sleep on a plane carrying any other monies. Too uncomfortable and turbulance is particularly brutal.


I carry a brain wallet, but one with a randomly generated seed.

Yay! Electrum deterministic seed wallet! So comfy.

dark pools of soros's picture

many have already cashed tons of profits...  hedged like anything else.

TheHound73's picture

Well, I have bid orders in all the way to the depths of hell.  It would be nice if at least a couple of them get hit but I'm starting to suspect they never will.  That brief slam to $925 just now almost touched my highest bid, but not quite.

Dear Infinity's picture

Can't wait for Ben to lose control of the 10 year.

tawse57's picture

Does losing control of the 10 year meaning interest rates shooting up which means that the price of gold and silver would plunge along with the DOW and NASDAQ?

Just asking.

Dear Infinity's picture

Well, if the prices haven't gone up in 0% interest rate environments, maybe a 10% 10 year is exactly what the doctor ordered?

tawse57's picture

Or perhaps rising interest rates will simply crash gold and silver along with the DOW and all the other world stockmarkets?

caShOnlY's picture

Does losing control of the 10 year meaning interest rates shooting up which means that the price of gold and silver would plunge along with the DOW and NASDAQ?

Absolutely the opposite, gold and silver will surge!!  As the 10 year rises the FED will create more and more FIAT to combat the damage.

VD's picture

can't wait for this next crash.

Mike in GA's picture

I understand that our 85B/month and every other CB's printing exertions drive the stock indexes up but what I don't understand is why gold and silver don't explode upwards in response to all the printing. 

This is a rhetorical puzzle and very frustrating.

Stackers's picture

Ding Ding Ding - The central banks learned that lesson in 1980. Must control gold to control faith in fiat. With a 100-1 paper to physical leveraged Comex and a check book with unlimited funds, its easy

layman_please's picture

and in 201x they will learn the lesson to control bitcoin or whatever is competing.

dark pools of soros's picture

and those that got in early made a killing... why ZH readers fighting bitcoin before the feds do is laughable..  such little nannies aren't they?


Quinvarius's picture

I don't have a problem with bitcoin.  I love how the bankers screwed up and lost control by squeezing too hard.  Their stupidity forced another financial system to replace them.  And when bitcoin holders all have the purchasing power of billionaires, we will see how well the Fed plays a gold game they have no control of with paper no one wants.  I mean seriously.  It is pretty arrogant of the Fed to think they will remain in control of anything when they have lost everyone's confidence.  I love how an entire financial system is replacing them because they won't let the current one work freely.  The Fed built the equivalent of the Homer Simpson designed car.  I prefer gold and silver by far, but i'd love to see bitcoin at 1 billion dollars, just before gold goes to 20k.

Prisoners_dilemna's picture

You have a major bitcoin problem.

YOU DONT HAVE ANY!   What are you gonna say to your kids when 1 bitcoin is a million bucks and gold is 1/350th to 1/700th of that. if you didn't know... unit per unit theres hundreds of ounces of gold for each bitcoin.


"Yup   grandpas balls were bout the size of cranberries...  red too.    Just couldn't bring myself to say ya know what...   maybe them libertarian geeks knew someting...   well shit I guess they did  look how history played out....   ah well    get back to work kids"

dark pools of soros's picture

look, no one ever said GOLD is worthless and not everything that it should be...  but it wasn't doing dick against TPTB and not even educating the masses about how shitty fiat is (since they made sure gold never got out of control) 

Now with bitcoin all over the world, the animals have ran out of the Fed Barn and it will take them some time to ever put them all back in right?  This is the magic of bitcoin more than anything..  it is bringing the discussion to way more people than gold ever did

I will always keep a little pile of PMs around but I was happy that I sold most of my stacks near the highs




Bizaro World's picture

They have already figured out how to control bitcoin.


Rainman's picture

Just a short answer : It's rigged.

  +1 bonus chart

TheRideNeverEnds's picture

Gold is fixed and has been since it was clear that the US was insolvent, so the late 60s.  Then we defaulted on our debt and have been in default ever since.  The US is a failed state but so are many others and if we all ignore it (Reality is what you make it.) maybe it will go away or at least prolong the ponzi till we are dead then it is someone else s problem.....





MeelionDollerBogus's picture

it will. s&p500 was shoved down in 2009 for their massive entry as sheep sold or hedge funds did it for the retirement funds that got bilked. Now it's gold's turn just like last time from below 1000 to 1900. Shove down, trick, buy, tease people to go short, stop them out, tease longs stop them out, finally push above a decent 2k to 3500, tease, sell in secret while creating fear, then slam-dump down to 2500 and say "the gold  bubble has burst!" it's OVER forever!!!

and repeat.

22winmag's picture

We're sailing in uncharted waters in a storm... and about to hit an epic reef.

viahj's picture

I'm reverting my thinking to go back to being a flat-earther.  we're about to go over the edge into the abyss of the unkown, all of us (fiat economies).

I am Jobe's picture

Now if they can print turkeys and send em to all Amerikans problem solved.

Waiting for the WMT Towel sale - Game on 

BadKiTTy's picture

I have to say my nuts are shrivelling along with the price of gold.  I am not leveraged so I deal with the pain by distracting myself.......... squirrel! 


Trimmed Hedge's picture

Bitcoin is so yesterday..

Bigcoins™ is where it's happening!

Gringo Viejo's picture

Gotta pocket full of US Shitcoins.

fonestar's picture

Aren't they LBJ sandwiches?

Gringo Viejo's picture

"It's All Good!" NOT!

Hellomoto's picture

Bitcoin Trading - Easy to Pump and Dump

You can divide up your Bitcoins into a 1000 pieces and put in a pile of Buy/Sell  orders ( BTC-E). It's looks like there is a ton of volume when it's just one dude with one coin and a calculator. Like trading gold by the milli-ounce or the dollar by the 1/4 penny. Someone's going to want to  cash in  soon ( The Twins, miners??)..........correction overdue

Hellomoto's picture

Check out all the Crypto's ( 34) waiting  in the wings

NOTaREALmerican's picture

I only care about what Alan Greenspan thinks about bitcoins.

Prisoners_dilemna's picture

The title says bitcoin yet I dont see mention of it or a chart in the article?  Did I miss something?!?!

NOTaREALmerican's picture

Re:  says bitcoin yet I dont see mention of it or a chart in the article

Bitcoins are virtual, so you really can't see them in the charts.