Nasdaq Winning Streak Snaps As Fed Fans Flames Of Confusion

Tyler Durden's picture


The last week or two appeared to be dominated by hope that the transitory weakness in data was weather-related, the recovery was all good, and that the Fed would un-taper to give it a helping hand just in case... Today's FOMC minutes made it clear the latter was not the case and today's macro data made it clear this weakness is not just the weather. With US macro data at six-month lows, the last 2 days saw credit and equity protection markets well bid - even as underlying stocks surged back to unchanged on the year. However, between Fed talking-heads and the FOMC minutes, hope faded... stocks tumbled, credit widened, Treasury yields surged higher, the USD jumped, and precious metals were slammed into the red on the week. Volume - surprise surprise - was the highest in over a week.


US Equities turned perfectly as the Russell and S&P hit unchanged for 2014...


Not a pretty day as not even the inflamous JPY carry trade could hold us back...


Trannies are massively underperforming off the 2/4 lows...


What did VIX know?


And What did Credit know?


Gold and Silver were pushe dnotablyu lowerr (even as Oil surged


Bond yields surged back to almost unchanged on the week...


Charts: Bloomberg

Bonus Chart: US Macro at six-month lows...


Bonus Bonus Chart: Wondering what smashed US stocks higher early on? Of course it was USDJPY but look at where it recoupled?

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Wed, 02/19/2014 - 17:04 | 4454220 fonzannoon
fonzannoon's picture

Gold goes sub $1,300 overnight <<<<<<<

Gold stays above $1,300 overnight <<<<<<<

Wed, 02/19/2014 - 17:19 | 4454289 fonestar
fonestar's picture

Can we get a Bitcoin article in here please??

Wed, 02/19/2014 - 17:29 | 4454335 TheRideNeverEnds
TheRideNeverEnds's picture

Its over, bitcoin is finished. 

Wed, 02/19/2014 - 17:30 | 4454342 fonestar
fonestar's picture


Wed, 02/19/2014 - 17:36 | 4454369 Non Passaran
Non Passaran's picture

You still don't get it, do you? It's never going to recover.
It's going to be more and more regulated while its users will move to crappier but less regulated coins.

Wed, 02/19/2014 - 17:52 | 4454436 fonestar
fonestar's picture

Bitcoin does not rely on what crap laws are passed in your shit land.

Wed, 02/19/2014 - 18:04 | 4454478 WarPony
WarPony's picture

NSA has never cared about "crap laws" in "shit land" - but, they are embedded in the blockchain like a tick on a hound.

Wed, 02/19/2014 - 18:05 | 4454489 fonestar
fonestar's picture

Oh yeah sure... they're just waiting for the right moment to pounce.


Wed, 02/19/2014 - 18:22 | 4454554 WarPony
WarPony's picture

zactly - and all your coins are belong to **POOF**

Wed, 02/19/2014 - 17:39 | 4454387 Leonardo Fibonacci2
Leonardo Fibonacci2's picture

Easy to rob via hackers.  Still no system can protect bitcoins from being robbed!!!


If i owned Bitcoins and got robbed by hackers, i wouldn't get mad, i'd get stabby!!!

Wed, 02/19/2014 - 17:51 | 4454430 fonestar
fonestar's picture

Been a user for years, never got robbed.

Wed, 02/19/2014 - 19:39 | 4454851 playnstocks
playnstocks's picture


Wed, 02/19/2014 - 17:51 | 4454429 lotsoffun
lotsoffun's picture

just how incredibly retarded.  i really can not believe it.

and yes, i do understand and support the concept of no longer paying banking fees to big bankers.

and transferring money. 

but - it's a dream.  this is not the dream..  it is a scheme.  best of luck to all of you.


Wed, 02/19/2014 - 17:41 | 4454393 q99x2
q99x2's picture

For Fonestar and anyone else that wants to install a BitCoin ATM.

Get them while they are hot. Click on the link below and order yours today.

LocalBitcoins ATMs are coming

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Wed, 02/19/2014 - 17:53 | 4454439 fonestar
fonestar's picture

fonestar is going to pre-order today so he can become a bit 1% in his area.

Wed, 02/19/2014 - 18:05 | 4454490 Winston Churchill
Winston Churchill's picture

Nice that feature where it copies your ID,
and takes your photo, at every transaction.
Read the small print fonestar.
Bitcoin is being assimilated into the Matrix.

Wed, 02/19/2014 - 18:11 | 4454510 fonestar
fonestar's picture

fonestar never reads the small print.

Wed, 02/19/2014 - 18:13 | 4454519 Soul Glow
Soul Glow's picture

No shit.

Wed, 02/19/2014 - 18:14 | 4454523 Winston Churchill
Winston Churchill's picture

Explains everything.
Happy sweet sixteenth birthday if we don't see you again.

Wed, 02/19/2014 - 18:27 | 4454570 fonestar
fonestar's picture

Wait, is that the same as fine print?  Or is that those bars with the weird letters?

Wed, 02/19/2014 - 19:40 | 4454855 playnstocks
playnstocks's picture

Why? Is it back a 1$ and still overvalued?

Wed, 02/19/2014 - 17:51 | 4454433 enloe creek
enloe creek's picture

gold is toast til october it's ooooooooooooover

Wed, 02/19/2014 - 17:05 | 4454227 onewayticket2
onewayticket2's picture

central planning trim tabs in action.....

Wed, 02/19/2014 - 17:08 | 4454237 FieldingMellish
FieldingMellish's picture

Right shoulder of inverse H&S forming on many, many PM charts. Down a bit then up a lot? or down a lot and then down a lotter?

Wed, 02/19/2014 - 20:14 | 4454360 DeadFred
DeadFred's picture

My biggest fear is the selloff when the hedgies have to make margin calls after equities tank. Big bearish engulfing candle today after a double top. PMs should survive but who knows what an epic drop in stocks would do to PMs short term? Maybe someone does but not me. Up after that though.

Edit: My bad, not an engulfing candle, missed by this much ><

Wed, 02/19/2014 - 17:09 | 4454241 Ness.
Ness.'s picture

TSLA up 8% in AH trading.

Wed, 02/19/2014 - 17:10 | 4454252 ebworthen
ebworthen's picture

"...FED fans flames of confusion..."

Love and Rockets remake of the Temptations classic "Ball of Confusion":

"Who put the filling in pie in the sky?"

Why, the FED of course.

Wed, 02/19/2014 - 17:14 | 4454266 Spastica Rex
Spastica Rex's picture

Better than the original, IMO.

My era.

Wed, 02/19/2014 - 20:14 | 4454940 Emergency Ward
Emergency Ward's picture



Lost in the wheels of confusion
Running through furnace of tears
Eyes full of angered illusion
Hiding in everyday fears

-- Black Sabbath, "Wheels of Confusion"

Wed, 02/19/2014 - 17:17 | 4454276 superflex
superflex's picture

"Vote for me and I'll set you free."

The remake has a better bass line and uses a cabasa.

Wed, 02/19/2014 - 18:56 | 4454683 fuu
fuu's picture

Peter was on it as well.

You know the way it goes about
It takes you in and spits you out
It spits you out when you desire
To conquer it, to feel you're higher

Wed, 02/19/2014 - 17:16 | 4454278 LawsofPhysics
LawsofPhysics's picture

That's it.  Everybody out of the pool!

Wed, 02/19/2014 - 17:19 | 4454291 Atomizer
Atomizer's picture

Flames of confusion trifle into blatant lies. Keep up the spin banquet Mr. Yellen ChairBitch. May I remind you, we don’t want free shite. We want to develop, employ and forecast long term business growth. What don’t you fucking understand about that business model?


Get back with me ChairBitch…

Wed, 02/19/2014 - 17:23 | 4454307 youngman
youngman's picture

You would think with all the EM termoil that PMs would be going higher and thinks Comex has a problem..

Wed, 02/19/2014 - 17:45 | 4454401 q99x2
q99x2's picture

Yellen has to wait for the rest of the banksters holding the evidence to get whacked before continuing her crimes.

Wed, 02/19/2014 - 18:12 | 4454514 Soul Glow
Soul Glow's picture

Had to hit gold somehow.  Sacrificing equity was the least they could do.

Wed, 02/19/2014 - 18:12 | 4454515 marginnayan
marginnayan's picture

Hey Hedgies Pumpers. Get ready for MCs, that is, margin calls, on Friday. un-taper....FED said it and said it firmly. Bye Bye for now.

Wed, 02/19/2014 - 18:13 | 4454520 LawsofPhysics
LawsofPhysics's picture

Anther 83 billion reverse repo today, not a word...

Wed, 02/19/2014 - 18:20 | 4454545 Winston Churchill
Winston Churchill's picture

US$ coming home from EM selling to support their own
currencies.Got to be getting close to the limit the
FedRes can do sopping up dollars before this breaks out in big inflation here in the US.
I thought it was a SBS problem, now I think its a dollar problem.John Williams call for hyperinflation this year stateside may well be right.

Wed, 02/19/2014 - 18:25 | 4454560 LawsofPhysics
LawsofPhysics's picture

My thoughts as well.  Watch Brazil closely.  If they go, shit gets scary in for the americas quick.

Wed, 02/19/2014 - 18:29 | 4454569 fuu
fuu's picture

They also raised the rate paid yesterday from 3 to 4 basis points.

Wed, 02/19/2014 - 18:21 | 4454549 thismarketisrigged
thismarketisrigged's picture

look at fuckbook afterhours, down 3 percent, odd.


fuckbook is only allowed to go up

Wed, 02/19/2014 - 18:45 | 4454650 Apostate2
Apostate2's picture

'pushe dnotablyu lowerr'

Points for the creative spelling Durdens but these lapses (and that includes grammar) are beginning to snowball. I expect it in the comments section as posters use a variety of tiny tools and fat fingers to communicate. This is your website and b&b. Get a proofreader please.

Do NOT follow this link or you will be banned from the site!