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S&P 500 Surges 30 Points Off Overnight Lows

Tyler Durden's picture





 

"Priced In" appears to be the meme of the day but the overnight collapse in S&P 500 futures - perfectly tagging the 50DMA - was met with a slowly building avalanche of BTFATH-ers unable to resist missing out of the December Triple Witching seasonality. While stocks are screaming higher, the USD is practically unchanged, gold and silver have rallied back to unchanged, and Treasuries are modestly lower in yield.

 

 

Bonds moved first on the IP data, then stocks spiked on the US open...

 

But JPY carry is not supportive...

 


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Mon, 12/16/2013 - 10:45 | Link to Comment jubber
jubber's picture

Guess Goldman & JPM  got the No Taper memo last night

Mon, 12/16/2013 - 10:53 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

Or they got the Taper Memo and upthrusting futures before they reverse violently intraday and trap all the complacent BTFATH-ers.

Mon, 12/16/2013 - 11:02 | Link to Comment firstdivision
firstdivision's picture

They'll earn more on the puts they bought/calls they just sold than the loss they'll take buying SPY.

Mon, 12/16/2013 - 11:12 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

There are gigantic sell orders sitting on the books. Most likely this ramp is a head fake.

Mon, 12/16/2013 - 11:20 | Link to Comment HRamos_3
HRamos_3's picture

Link or it didn't happen. :)

Mon, 12/16/2013 - 11:33 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

Link to where? Order books?

The indicator I use suggests SPX will roll over (between after EU close and 3pm) and you will see a billion+ MOC sell imbalance today. It has never failed so far (however not statistically significant number of instances yet)...

Mon, 12/16/2013 - 11:15 | Link to Comment Stoploss
Stoploss's picture

Bear trap sprung..

Mon, 12/16/2013 - 11:37 | Link to Comment whatsinaname
whatsinaname's picture

Yes, GS is saying there will be no December taper.

Going one step ahead, I am beginning to think they may even hike the QE instead of just staying with the 85 B number?

Mon, 12/16/2013 - 17:00 | Link to Comment Exponere Mendaces
Exponere Mendaces's picture

Anyone remember my post about the 52-week lows chart being antipersistent? This is exactly what I mean.

Its going to rally to the moon before it all goes to hell, just par for the course.

Mon, 12/16/2013 - 10:46 | Link to Comment new game
new game's picture

all scripted for post knowledge consumption.

Mon, 12/16/2013 - 11:01 | Link to Comment Xibalba
Xibalba's picture

these are death throes

Mon, 12/16/2013 - 11:08 | Link to Comment DebtSlaveZombie
DebtSlaveZombie's picture

LOL.  Can you stay liquid for 10 more years of "death throes"?  These arent death throes.  These are

Mon, 12/16/2013 - 10:47 | Link to Comment kensdad
kensdad's picture

It's Monday.  There's no other reason necessary to rally 30 pts.

Back to your regularly scheduled programming.

Mon, 12/16/2013 - 10:49 | Link to Comment fonzannoon
fonzannoon's picture

Wow. Just wow. Almost every stock I own right now is flat to barely up. PM's have rallied all the was back to shit sandwich...and there sits the majestic S&P 30 points off the lows. Fuckin tremendous. 

There is no market. There is only the Bernak and the S&P is just a transmission mechanism for him. Now fucking bow down to your master. Unreal.

Mon, 12/16/2013 - 11:02 | Link to Comment DebtSlaveZombie
DebtSlaveZombie's picture

DFTF...Don't Fight the Fed

Mon, 12/16/2013 - 11:05 | Link to Comment gjp
gjp's picture

It's more and more like saying don't fight the Nazis.  Lots of personal reasons not to, but if they win (and they have already), the consequences will be bad for everyone.

Mon, 12/16/2013 - 11:22 | Link to Comment Al Huxley
Al Huxley's picture

You need to own Facebook and TWTR, they're moving like it's 1999.

Mon, 12/16/2013 - 11:28 | Link to Comment fonzannoon
fonzannoon's picture

3 weeks ago twtr was $40 and falling and I was certain I was going to be buying Doc Engali a sandwich. But thankfully fundamentals and the macro thesis emerged for this wonderful company and it understandably rallied almost 50%. 

Thank god for fundamentals

Mon, 12/16/2013 - 11:51 | Link to Comment Al Huxley
Al Huxley's picture

Yes, its good to see.  It's a little hard to value since it has no earnings, but still, the potential is obvious - I think Twitter has the potential to be as revolutionary for society as pets.com.

Mon, 12/16/2013 - 11:55 | Link to Comment Al Huxley
Al Huxley's picture

I am considering shorting the miners though, into the FED meeting, especially if they can keep up this tepid little 'rally' for today and tomorrow...

Mon, 12/16/2013 - 11:59 | Link to Comment fonzannoon
fonzannoon's picture

Al please do it. Do it for both of us. One of us has to make money eventually, it should be you.

Mon, 12/16/2013 - 11:36 | Link to Comment Liquid Courage
Liquid Courage's picture

Deception is Reality

Mon, 12/16/2013 - 10:50 | Link to Comment Pig Circus
Pig Circus's picture

I so sick of this fraud. down for a week and gain it back in a day. Time and time again.

Mon, 12/16/2013 - 10:49 | Link to Comment SheepDog-One
SheepDog-One's picture

Gotta keep those sheeple all-in somehow.

Mon, 12/16/2013 - 10:52 | Link to Comment fonzannoon
fonzannoon's picture

Just wait till that first week of January. The S&P will be up 17% as every single person will make sure they don't get left behind this year.

Mon, 12/16/2013 - 10:54 | Link to Comment Tsar Pointless
Tsar Pointless's picture

Santa!

Mon, 12/16/2013 - 10:57 | Link to Comment yogibear
yogibear's picture

Sanat Claus rally and year-end bonuses is all that matters. It's a numbers game for fund managers.

Mon, 12/16/2013 - 11:15 | Link to Comment Racer
Racer's picture

Santa is fake just like this 'market'!

Mon, 12/16/2013 - 10:56 | Link to Comment John McCloy
John McCloy's picture

   A market with an upside bias the likes nobody has ever seen nor will see again.

Mon, 12/16/2013 - 10:54 | Link to Comment yogibear
yogibear's picture

Keep knocking those extended unemployment people off the stats and the numbers look a lot better.

Reality no longer matters. 

It's the reality Wall Street wants to portray that matters.

The fewer people working for a company the more profitable it becomes. More layoffs boost stocks.

Mon, 12/16/2013 - 10:59 | Link to Comment DebtSlaveZombie
DebtSlaveZombie's picture

This is how life is gonna be for several more years.  Wait till the "No Taper" comments come out Wednesday.  The markets will scream to all time highs and melt-up the rest of the year for a year ending close of S&P 1830.  Gold will spike at first then sell off.  I mean, this is just how it is.  We have a central bank controlled universe across the world.  It's never been attempted before so any historical comparison to previous bubbles would be considered a fool's errand.  We are in new territory.  Gold to go lower.  S&P higher.  That's all you need to know until 2015/2016.

Mon, 12/16/2013 - 11:04 | Link to Comment ghostzapper
ghostzapper's picture

I agree but not sure if it makes it to 2015/2016 though it certainly could.  Spider shout hit 1840ish on next wave up.  Correction/consolidation and then the blow off top momo-moneky bonanza that may last longer than people think.  Gold lower I agree.  Spider bubble shifts to Bitcoin bubble.  

Mon, 12/16/2013 - 11:24 | Link to Comment DebtSlaveZombie
DebtSlaveZombie's picture

Go back and look at the mania phase of the 1999 rally.  It was a verticle climb for almost a year and a half and interest rates were at 6% on the 10 year.  This time, we have low rates, a FED juiced market and plenty of liquidity sloshing around to handle bumps in the night.  Plus all central banks around the world are working at the same time.  Yeah, it's gonna end badly.  But that could be 15 years from now.  If ever.  We dont know because this has never been attempted nor do we know what the end game will look or when it will happen.  But yeah, the blow off top episode will be something to watch.  Might go straight up for 2 years. 

Mon, 12/16/2013 - 13:43 | Link to Comment ghostzapper
ghostzapper's picture

Yup, we are literally in the Twilight Zone.  Very difficult to time when it implodes.  Plus, the holders of the vast majority of equities have an incentive to refrain from selling and scratch each others backs.  I do firmly believe the end game includes a transition to a new financial system.  The next crash is the final crash for the current debt based, money printing system. 

Mon, 12/16/2013 - 16:48 | Link to Comment LooseLee
LooseLee's picture

Uhhh..Maybe. Its the bond market that matters, They are calling the bluff of the Comminist Fed that so many of you worship. If the bond market starts to crack, kiss your silly equity market ass goodbye. Equity investors, by and large, are morons and followers. They ain't too bright. That market is fragile and won't like a bond market in revolt.....

Mon, 12/16/2013 - 11:01 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

i expect a phony paper price takedown of the metals Tues night or

during the day Weds....

irrespective of the MoneyChanger in Cheif NOT tapering...

boy,  given the same pattern over the last 5 years am i a genuis or what????

SFMB

stack the fucking manipulation bitchez.......

Mon, 12/16/2013 - 11:14 | Link to Comment rp1
rp1's picture

It's distribution motherfuckers.  Show 'em how it's done.  Tape is green for the muppets.

Mon, 12/16/2013 - 11:15 | Link to Comment Boondocker
Boondocker's picture

this will continue until someone big loses confidence... when that is,  who knows....

Mon, 12/16/2013 - 11:38 | Link to Comment Racer
Racer's picture

Until then, any attempt at selling is met with an algo feeding frenzy

Mon, 12/16/2013 - 11:22 | Link to Comment q99x2
q99x2's picture

Everyone is onto the fact that the FED meets for the sole purpose of juicing the markets without having to pump them with counterfeit fiat. And, they are always ready should their psy=ops hype fail. Watch for the pair of POMOS if the yellen words of a fortune teller don't do it. I've got my cards ready.

Mon, 12/16/2013 - 11:38 | Link to Comment peakgrowth2014
peakgrowth2014's picture

There are no sellers left!! They have all been bled and butchered by the FED. Up, up she goes, the green DOW rainbow, into the sky of unicorns until the day the muppets and the algos taste FEAR. We will then see how big that exit door is and what it is made of...

Mon, 12/16/2013 - 11:52 | Link to Comment Finnman
Finnman's picture

I guess mr. evil from GS met fed?

Mon, 12/16/2013 - 12:12 | Link to Comment starman
starman's picture

See there's Santa Claus.

Mon, 12/16/2013 - 12:43 | Link to Comment CaptainSpaulding
CaptainSpaulding's picture

" I must stand on my head"

   - Scrooge, 1951 Aistair sim version

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