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Stocks Dead-Cat Bounce As Bullion And Bond Bulls Bail

Tyler Durden's picture





 

UPDATE: The miss by GOOG and AMZN (accounting for 13% of Nasdaq market cap) is pushing indices lower after hours...

 

Looks a lot like more than one person smelled a miss coming early on as VIX was cracked higher and stocks started falling into the close...

 

The S&P 500 And Russell bounced once again off post-December-Taper unchanged levels today but the Dow remains flat from 12/18 as the Nasdaq (led by exuberance in momo social media stocks as AAPL closed <$500) jumped the most in almost 4 months (though remains -1% on the year). The rally in stocks was simply remarkable for its tick-for-tick tracking of USDJPY and EM FX and the S&P was unable to make significant progress past its pre-Turkish-rate-hike levels. Treasuries sold off but remain 3-5bps lower in yield than when Turkey was "fixed". The USD rallied on EUR and JPY weakness (but was almost entirely dead once Europe closed). Precious metals were manhandled instantaneously lower at 8amET then spent the rest of the day trying to recover. VIX ramped higher into the close ahead of GOOG/AMZN and stocks did tumble into the close to recouple with USDJPY but bad news was great news it seems...(for now).

 

Spot The Difference - US Stocks, USDJPY, or EM FX...

 

The Dow remains lower than the December taper but the S&P and Russell bounced...

 

For the day stocks regained the pre-Turkey levels but bonds remain well bid from there...

 

An odd day for the USD... ramped higher on the back of EUR and JPY weakness but once Europe closed, dead!

 

The rally in the USD echoed a drop in PMs but the monkey-hammering at 8amET was once again a joke...

 

AAPL ended back under $500 (but the exuberance in FB and the other momos saved the day),,

 

 

 

 

Charts: Bloomberg

Bonus Chart: @BD_Analyst shows the massive amount of insider selling that has recently occurred (while th every same companies are buying back their management's shares?)

 


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Thu, 01/30/2014 - 17:11 | Link to Comment Say What Again
Say What Again's picture

How about this after-hours plunge in ES!

Thu, 01/30/2014 - 17:12 | Link to Comment Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

PPT will fix that shortly, now open a myRA!

Thu, 01/30/2014 - 17:15 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Objective of MyRA is citizenry supply member of bankster class with liquidity to invest in yet other asset bubble.

Thu, 01/30/2014 - 17:19 | Link to Comment Levadiakos
Levadiakos's picture

need to keep as 10% reserve then loan out 900% to hedge fund

Thu, 01/30/2014 - 17:32 | Link to Comment James_Cole
James_Cole's picture

Wow amzn is dumping hard. 

Thu, 01/30/2014 - 18:01 | Link to Comment Pure Evil
Pure Evil's picture

That's what happens when you get a sweet dose of Milk of Magnesia.

Fri, 01/31/2014 - 02:55 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Stupid Amerika citizenry is drunk for Milk of Amnesia, already is forget even recent financial collapse when wealth of many is control by the few.

Thu, 01/30/2014 - 17:32 | Link to Comment Canadian Dirtlump
Canadian Dirtlump's picture

Certainly inventing some demand for bonds will take some pressure off of the Fed. I mean, once the banks are fully recapitalized and the fed has bought their MBS off them for 100 cents on the dollar they'd like to pull back. The gum chewing masses will serve as the new handmaidens.

 

Things will get really fun when existing funds are forced into treasury bonds. I believe that program will be called "OH MY"ra.

 

p.s. thanks TPTB for the silver cowboy boot to the balls today. I'm sure being chinese new year and all they appreciate the gift.

Thu, 01/30/2014 - 22:24 | Link to Comment asteroids
asteroids's picture

The boyz with their supercomputers kept the market levitating all day refusing to let it fall at all. Bad news should cause the market to tank, but alas, in this bizarro world not. This will one day end in tears.

Thu, 01/30/2014 - 17:16 | Link to Comment whatsinaname
whatsinaname's picture

Speed up Tyler(s). Amazon and Google fizzle and nary a word on it from you.

Are folks pretending to wise up on Amazon now that we are in Taper mode ?

Thu, 01/30/2014 - 17:29 | Link to Comment Levadiakos
Levadiakos's picture

I's OK. Aikman. Ichan and Miller are long

Thu, 01/30/2014 - 17:25 | Link to Comment whatsinaname
whatsinaname's picture

Ok there is I see the AMZN / GOOG update. Really we must all be hallucinating to see AMZN go red after earnings. But it could all change tomorrow morning.

Thu, 01/30/2014 - 17:14 | Link to Comment fijisailor
fijisailor's picture

Hmm  Someone lost confidence in paper gold again.  What a surprise.

Thu, 01/30/2014 - 17:21 | Link to Comment Al Huxley
Al Huxley's picture

No real damage in the bigger picture yet.  Plus, I've got a giant stick up their twat as I'm short their cunty little baby ABX, so they can't crush the fucking PMs without putting a bunch of money in my pocket, so if you want to buy miners, 'now's the fuckin' time'....

Thu, 01/30/2014 - 17:53 | Link to Comment agent default
agent default's picture

They cannot crush PMs without at least some of the actual metal behind.  Stay tuned.

Thu, 01/30/2014 - 18:03 | Link to Comment SAT 800
SAT 800's picture

Good for you having a giant stick up their twat---that's the position I like to have markets in. The fun part is when they start screaming and bleeding from the eyes.

Thu, 01/30/2014 - 19:11 | Link to Comment Al Huxley
Al Huxley's picture

Ha ha, 'market', good one!  Ha ha...

Thu, 01/30/2014 - 17:13 | Link to Comment The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Taper or no taper, just buy the fucking dips.

Thu, 01/30/2014 - 18:20 | Link to Comment Winston Churchill
Winston Churchill's picture

Be careful.

Todays 'rally' had all the energy of a savage attack by a dead sheep,

Nobody will want to be holding over this weekend.

Thu, 01/30/2014 - 18:36 | Link to Comment akarc
akarc's picture

hmmmm had that thought last fri. Still have it.

Thu, 01/30/2014 - 17:16 | Link to Comment Music101
Music101's picture

Amazon is getting whacked right now on its earnings repert! See KARL DENNINGER'S STOCK PICKS -- including AMZN -- on the Video Below -- MUST SEE:

http://www.youtube.com/watch?v=XqWIS0O2gIk

Thu, 01/30/2014 - 17:18 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

What Amazon is lose in revenue is make up in volume.

Thu, 01/30/2014 - 17:22 | Link to Comment Levadiakos
Levadiakos's picture

Will be up 10% tomorrow when fools figure out infinity p/e is good

Thu, 01/30/2014 - 17:14 | Link to Comment Wait What
Wait What's picture

amazon looks like it ran into reality for a moment AH.

Thu, 01/30/2014 - 17:19 | Link to Comment tawse57
tawse57's picture

I think I am hallucinating - Amazon is actually down after hours on an earnings report. When was the last time that happened?

Oops, Google is having a wobbly as well. Thank goodness for Narcbook to keep the NASDAQ powering up!

Thu, 01/30/2014 - 17:28 | Link to Comment jcaz
jcaz's picture

Very true- used to be money, buying AMZN the day before earnings, cause "earnings just don't matter"-

Cramer is hiding under his desk right now....

 

Thu, 01/30/2014 - 17:24 | Link to Comment tawse57
tawse57's picture

Amazon now back to November 2013. Only needs to tank another 140 bucks to get back to Spring 2013.

Thu, 01/30/2014 - 17:22 | Link to Comment FieldingMellish
FieldingMellish's picture

While the Comex exists, gold and silver are puppets on strings and nothing more.

Thu, 01/30/2014 - 17:24 | Link to Comment thismarketisrigged
thismarketisrigged's picture

fucking bullshit.

 

of course google is back in the green, fuck that shit.

 

last time google beat the stock fucking went up 110 dollars in 1 day, like 10 percent plus, and since then its been up up and up.

 

now they miss on bottom line and barely beat on top line, and not to mention the fucking stock was up 3 percent today pre earnings, and yet that shit is still green.

 

google should be at 500.

 

as for amzn, we have seen this shit time and time again, they will bring it back green shortly. only company that can miss time and time again and stock goes up

Thu, 01/30/2014 - 17:29 | Link to Comment TheRideNeverEnds
TheRideNeverEnds's picture

Just close your eyes and sell it, GOOG will trade 600 before it ever trades 1600

Thu, 01/30/2014 - 17:28 | Link to Comment fijisailor
fijisailor's picture

It's like taper never happened  Did it really?

Thu, 01/30/2014 - 17:28 | Link to Comment beavertails
beavertails's picture

Same thing last year, the gold attack dogs strike while the Chinese celebrate their New Year.  Look for a week of shaninagans as the Golden Horse trots out.

Thu, 01/30/2014 - 17:32 | Link to Comment tawse57
tawse57's picture

Is there ANY chance that the shorts will destroy Amazon in the next 24 hours?

Thu, 01/30/2014 - 17:40 | Link to Comment buzzsaw99
buzzsaw99's picture

no

Thu, 01/30/2014 - 18:34 | Link to Comment akarc
akarc's picture

Ditto

Thu, 01/30/2014 - 17:34 | Link to Comment SAT 800
SAT 800's picture

The Year of the Horse ! Bring it !

Thu, 01/30/2014 - 17:34 | Link to Comment SAT 800
SAT 800's picture

Natural gas futures falling like a wing shot duck. props to tyler for pointing out the high for me. Made another 1500$ while I was eating breakfast.

Thu, 01/30/2014 - 17:37 | Link to Comment The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Love it when a plan comes together.

Thu, 01/30/2014 - 17:43 | Link to Comment ifishivote
ifishivote's picture

with all of the people they parade on CNBC I wish just once someone would point out that the Stock market is a form of legal gambling. No need to head to AC or Vegas to place a bet. Place an order 2 minutes before the close cross you fingers and hope the company that you just bet on beats earnings.

Thu, 01/30/2014 - 17:48 | Link to Comment fijisailor
fijisailor's picture

Gambling for you.  It's a sure bet for the market makers.

Thu, 01/30/2014 - 18:00 | Link to Comment Hal n back
Hal n back's picture

there are over 2200 funds that own AMZN--if they start selling they all better be first out of the gate. Bu ton other hand they have defended a company that does not make that much money to support a 365 price so as hilary would say "what difference does it make"?

Thu, 01/30/2014 - 18:02 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Don't forget guys, it the end of the month and the sheep with 401ks have their money coming into the "market".  Let the shearing begin...

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