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The Yellen Reaction: Stocks Down, Gold Down, Bonds Frown
Treasury yields jumped 3-4bps higher on the release of the Yellen testimony but are rapidly reverting that loss. Gold and silver were double-slammed but gold remains above its late-day (pre-spike levels) from yesterday at $1280. Stocks and USDJPY entirely decoupled which must have shocked a lot of algos but having failed to ignite any momentum in stocks, USDJPY is now fading fast.
The machines lost control - USDJPY insta momentum ignition failed entirely and is now fading back under the pre-Yellen levels...
Gold was spanked but bounced off pre-close ramp levels from last night...
The initial sell in bonds is quickly reverting...
Charts: Bloomberg
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If I had a hammer, I'd hammer in the morning, I'd hammer in the evening, all over this land.
If you hand me a screwdriver, i'd be a screwing you in the morning, screwing you in the evening, all over this land.
If i had a nailgun . . . . .
If I had a spoon....
If I had a 33 story building...
If I had a 4-foot fence and a 50 foot embankment...I might break my leg
Yellen can't afford to taper for the long term. She'll tank the global economy if she refuses to print money. Plus the risk of inflation is minimal. Bitches.
So, where does the following fit into the lies, I mean mix?
Feb. 10, 2014, 3:16 p.m. EST
U.S. to suspend pension, retirement funding: Lew
WASHINGTON (MarketWatch) -- Treasury Secretary Jacob Lew told Congressional leaders Monday that he is taking two extraordinary measures to avoid hitting the debt limit. In a letter, Lew said he will suspend debt issuance for the Civil Service Retirement and Disability Fund and not invest fully in the Government Securities Investment Fund of the Federal Employees' Retirment System. Lew said that the actions were taken "during previous debt-limit impasses," and that both funds "will be made whole once the debt limit is increased." Federal retirees and employees will be unaffected by these actions, he said.
http://www.marketwatch.com/story/us-to-suspend-pension-retirement-fundin...
Anyone wonder where all the borrowed money goes? It goes into a lot of things, particularly in this example, it pays retirements. Borrow money to pay people. That just does not seem right.
The solution is obvious: OMT, LTRO, ECB -- fire up those acronyms!!
You know, a real man would have used a hammer..
I d nail more than eight times. What a bankster pussy.
Let's go FULL retard...
I closed my short Nat.Gas position; @ 5.375; basis Mar. this morning at 4.700; for 22,250$+ P&L. I have to babysit my new short on the S&P @1790. It's a little underwater this morning.
I like that trade...if it is going to happen...around the 1800 mark looks reasonable, IMO. I took a short GBP/USD fwiw. I refuse to trade SP on principal.
or you could short gold on the rips, it was spanked a little overnight... sounds so sensuously delighting.
I gave up on my S&Pshort today; out at 18015; -$2300. Bad idea to begin with. I'll wait and watch for awhile.
Hey, SAT
At least you posted your trade. More people should do that....assuming they want to share ideas.
My GBP short is still on the books....apparently FX is not buying the taper off mood in the room.
If only her words did that, imagine if it was televised. Woof!
Nothing like an official FED announcement to go along with the morning gold hammering.
as soon as I realized it was FED speech day... I knew this day was going to suck...
like a yellen on a obamadick...
Mining stocks up?
Come on Mr Yellen. Please ramp this up. I want a buying op.
Hey Gartman, ready to flip flop again. Cock.
If Gold doesn't go higher today, I'm not even following the news any more. It will have become meaningless.
You should have thought about that with yesterdays news.
And they sell gold because? You gotta laugh. And they call these markets "normal". Beyond words.
Hey Ben,
Thanks for reminding me where the hammer was.
Janet
Hey Ben,
Thanks for having Blythe send over those flying monkeys to the NYFED. They make perfect gold traders.
Janet
The hammer is kept in her snootch for safekeeping. They don't want anyone else getting their hands on it, so obviously.........
Reminds me of an unfortunate party when I was at school... You'll just need a gas mask, a fly swatter, a sick bag, and a strong anti gag reflex and you'll be fine.
Must be 316 stainless then because of the corrosive nature of it's environment.
And here now the news ...
Weather, that is - Right Coast Take Note -
A HIGH SOCIETAL IMPACT WINTER STORM IS IMMINENT ACROSS THE SRN TIER OF THE COUNTRY AND VERY LIKELY TO PROCEED UP THE EAST COAST ON WED AND THURS... BASICALLY EXTENDING FROM TX/LA TO NEW ENGLANDhttp://www.hpc.ncep.noaa.gov/discussions/qpfhsd.html
Be Afraid, be very afraid. An Icy Bitch is upon us soonand it's NOT only Bernellen.
Imagine that it's going to get cold in Fedbruary; how odd.
Not so odd when you are a propane salesman.
Here is the real Gold moving data:
Unprecedented Total Chinese Gold Demand For 2013 Was 2,181 Tons
Yesterday WSJ, Reuters and Bloomberg have created a lot of buzz in mass media about unprecedented Chinese Gold demand of over 1,000 tons in 2013. Koos Jansen reports that actual demand was almost double that and stands at 2,181 tons of Gold, excluding PBOC purchases! Koos Jansen makes the great work of the forensic investigation of the real Gold market in China and his work is highly recommended for all interested in the gold market.Gold is trading higher today at high $1287 in Asia after breaching $1270 level. The Mother Of Short Squeeze has finally arrived in the Gold market and Janet Yellen testimony today will provide the catalyst.
http://sufiy.blogspot.co.uk/2014/02/unprecedented-total-chinese-gold-dem...
Yellen HAD to say something stupid this morning to give cover for the Gold manipulation...it's getting a wee bit too obvious now.
It is not worth reacting to every hammering of gold. It's just the same old story again and again.
Learn to live with it or quit buying/holding gold.
Nothing moves me anymore other than a $50 movement.
If i had the funds to buy gold each time its hammered down, I'd buy in the morning,in the evening...
Obviously it's time for some "Out of CTL-P" therapy for any pesky gold spikes.
I love these 1 minute charts
So dramatic
Perhaps someone needs to research and find out whatthe FED does with over 20.000 employees.
Maybe I am missing something because I just woke up but gold is up 15$ and stocks haven't had a downtick since the open....
Next stop 1900.
Go take a catnap, all gains will be erased. Wash rinse repeat
How can we be sure Janet is, in fact, understanding, and definition - a FEMALE? For that matter how do we even know Bernanke was a man as we were left to believe? I submit that since the Fed will not permit a congressional audit, that we demand a physical audit of its chairwoman. In the best interests of full disclosure and transparency, it must be known of what sex the chairperson is - transvestite, transgender, or man, woman, as claimed. Citizenship is just a curiousity.
SUGAR KEYNES: The Darkside of John Maynard Keynes, Architect of the US Federal Reserve, His Perversion & PedopheliaIs Fed chairman-now incumbent Janet Yellen a bi-Keynesian, too?
http://chasvoice.blogspot.com/2011/08/john-maynard-keynes-lavender-bolshevik.html
well there is some good news today... George Soros got bitch slapped by his ex-wife in court today.