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Stocks Surge For Sixth Straight Session
Despite the mainstream media's premature exuberance over the 10Y yield breaking above 3.00%, it didn't (according to Bloomberg) but that didn't stop it from closing as close as it can get to the high yields of the year (and back to July 2011 levels) at 2.9905%. The USD drifted getly lower with GBP and EUR strength the biggest drivers. Commodities saw Gold and even more Silver jump at the open then drift while copper and oil limped higher. Volume in stocks was 20% below last Boxing Day which provided the perfect recipe for a VIX smack-down, slow meltup rally to new record-er highs.
The 10Y Yield did not (sorry not) cross 3.00% today (quite yet)...
The last 2 times 10Y was at 3%, S&P was at 1340 (and fell considerably after) and 1650.
It's been quite a run off the debt-ceiling lows...
But the last few (post-Taper) days have been remarkable with among the best runs in 3 years...
VIX was slammed back under 12% briefly (to 9-month lows) buy bounced for the rest of the day...
As VIX has been slammed 30% lower in the last 6 days - its biggest collapse since the start of the year...
Commodities saw gold and silver jump at their open then drift...
Charts: Bloomberg
Bonus Chart: WTFTWTR...
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Hot money has to go somewhere, eh!?!
DaddyO
It's so funny even if you extrapolate 5 day S&P or Dow Chart - even missing Christmass day fits nicely as Gap on 26 was proportional to gain we would gave in continous market
http://finance.yahoo.com/echarts?s=%5EGSPC+Interactive#symbol=%5Egspc;range=5d;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
this has become such a joke, that tyler can write his market summary for tomm right now because we all know how its going to be.
lots of clowns in this market, buying twitter at these levels, they will deserve whatever they get coming to them, and i will not have one bit of sympathy for these fools.
I thought same thing about AMZN 10,7,5 years ago - I even shorted it at $31 to see it rise to $61 had guts to add another short and covered at 30... But I was just lucky... look where it is trading now - with diminishing earnings and margin - Just a retailer... If only I could go against common sense... I would be long now
I was there with ya and AMZN in the $60s. Shorted at $66... it can never get higher than that with negative earnings. Covered at $80. Oh well.
That's what puts are for. Unmargined. Saves you the headache of worrying about trailing stops & if it's priced badly it's a warning you shouldn't short it either.
everybody loves a BONUS CHART!?!?!!
And bicoin is only off 400 from 1200..weeee
Bonus Bonus chart
Just gone long on the VIX. Should see some upside, even if only short term in early Jan
party like it's (s&p) 1999 bitchez!
When the yei,d on the 10 year bond hits 3.00 you'll know the jig is up.
Obamacare has saved the US economy.
sanity is a scarce commodity
efficient markets and rational agents left the building at the beginning of this year.
minsky meltup
AmeriCONs are smart!!
they invest in STAWKS!!! not like stinky Chinese people buying gold!! how silly to buy worthless shiny rocks when you can rock out with some STAWKS!!!
based on fundamentals, TWTR should be at $158.23 by end of January 2014.
i can't do it sob, sob, please, sob, i didn't mean to hurt anyone, but i cant doit...
Hah, just buy tweeter, it can't go down I tell ya, it'll be trading 1000 by year end, them tweeties are worth more than bitcoins, fer shur!
Disclaimer : Please be advised that sarcasm has been used to the fullest extent in the above message. Kids, do not try this at home. Always wash your hands after going to the toilet. Never believe any politician.
The question I have is Who is really buying the stocks?
When Fed takes stock, Fed really takes stockhttp://nypost.com/2013/12/24/when-fed-takes-stock-fed-really-takes-stock/
This would be easy to accomplish in its current form: NY Fed reverse repo, instead of taking "cash", takes "stawks". They may have a very loose definition of "cash".
To be honest, they don't need any scheme. They can run it through a couple naughty primary dealers they "trust". Market to market is gone and no cop is in town to reign in accounting practices, as if that mattered anyway.
Someone will talk one day, I hope, and expose this for the can of worms it is. Chicago gangster are small pocket thieves compared to what we are witnessing.
A lot of people who have information seem to die unexpectedly (like Loretta Fuddy the lone fatality in a crash) and others know that so if it ever does come out it will probably be after we are all dead unless someone pulls a Snowden lol
wuuUUUUUt?
Things aren't on the up 'n' up?
I'm flabbergasted.
Where else should $4Trillion go to? Bonds ? Gotta be crazy....
BTFATH
we'll see what other currencies crack under the weight of the uber-dollar. this can create a frenzy for "dollar denominated assets" and with the big spike in natural gas prices you have a lot of liquidity to be put to work that we didn't have a year ago. Still there are some notable under munchen as well. Ford is not ringing in the New Year with a bang for example. these are truly light volume ramp ups here...i would wait for volume to return after January 1 and see what happens in the first couple weeks. You could get a real moonshot here...but Dow theory has never been all that good in reality...not the least reason being the Dow has very few stocks to invest in. If tech continues to fail to confirm (i.e. "will Apple continue to decline as well?") then again I would be long risk management and not risk...at least in the short term. I am on the record as liking silver I wish to add. But as this market moves ever higher...i like it less.
http://www.huffingtonpost.com/dan-solin/the-phony-market-correction_b_42...
Why do people think the 10 y going above 3% is some huge earth shaking event? It's already essentially there, what would another 5 basis points really matter? Not like the banksters can't slam it back down to 2.5% and lower in the blink of an eye. For now they are still in total control. Things will get very ugly but I feel sadly that there is still a ways to go.
Because there goes the stock market traditionally, the real estate market, the car purchasing market, and all the incomes of the people that work in those markets. Not to mention variable interest rates on credit cards, mortgages., and CDS derivatives that now need to be paid off. If it stays +3% for more than 2 weeks - you got big troubles Bruddah
While 'other' interest rates have to rise with the 10yr, dont forget that the US Gummint has to be able to pay the interest on their issued debt. That really translates to QE and NO tapering. Just think that everything will start to get very epensive.
FB closed 57.73. seriously.
the whole world's gone topsy turvy.
http://www.forbes.com.mx/sites/predicciones-financieras-como-viene-el-2014/
bah, TWTR. The prices on all the puts & calls look priced in for a good +10 to -10 in the next 3 months. Not worth me touching. Try if you want.
I flat out don't do margin trading, just options for the ups & downs. It's just not worth the risk. May as well keep stacking at these discount prices than play the slots.