Pump... And Dump

Tyler Durden's picture

Despite a late-day (very sudden) shellacking in silver, commodities rallied with gold pressing up towards Sept 2013 levels (over $1340). Treasury bonds rallied all day to end near the low yields of the day (-3 to 4bps from Friday). The USD's early losses were unwound as the US day-session continued to leave the greenback modestly lower on the week. And that leaves us with stocks... in almost the exact same pattern as yesterday (except with an overall downward bias) the US open sparked some JPY selling which sent stocks careening to highs only for the European close to smash that hope to smithereens and send stocks limping lacklustrously lower  into the close (recoupling with JPY and Credit). All indices closed red with Trannies underperforming and the S&P (yet again) unable to hold a green year-to-date close.

 

Yesterday's pump-and-dump...

 

Today's pump-and-dump

 

Leaving Trannies down for the week...

 

And the S&P unable to close green for the year once again...

 

And as a gentle reminder - this year has been led by (drum roll please) Healthcare (Biotechs) and Utes...

 

Bonds decoupled in a very non-snow-related, slow-growth-is-a-reality manner...

 

Stocks recoupled once again with credit's less exuberant perspective...

 

Commodities rallied with gold leading the way but it seems someone was in a hurry to dump their silver in the last few minutes... interestingly WTI and Silver end practically unch on the week...

 

Volumepicked up considerably on the dump in Silver in the late-day...

 

Charts: Bloomberg