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Pump... And Dump, Day 3

Tyler Durden's picture




 

For the 3rd day in a row, the opening of the US day-session sparked some inexorable desire to buy stocks up to record highs - ignoring the realities of other assets like bonds (lower and lower yields), USD (soaring), VIX (rising), credit spreads (flat) and even JPY carry traders. And for the 3rd day in a row, the initial "pump" has failed and "dumped" back to AUDJPY reality. It seems the all-important green close for 2014 just won't hold (for now).

 

 

It seems - all of a sudden that "social", "media", and "you just don't get it" stocks are not wanted anymore as TSLA, NFLX, FB, AMZN, and TWR all tumble

 

Charts: Bloomberg

 

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Wed, 02/26/2014 - 15:31 | 4481314 pound the vix
pound the vix's picture

3rd times a charm???

Wed, 02/26/2014 - 15:47 | 4481345 Levadiakos
Levadiakos's picture

You sound like Hillary

Wed, 02/26/2014 - 15:54 | 4481424 James_Cole
James_Cole's picture

Funny how the whole market is starting to resemble a penny stock. 

Wed, 02/26/2014 - 16:18 | 4481563 new game
new game's picture

three days in a row! at my age, that would be good!

Wed, 02/26/2014 - 15:33 | 4481316 pound the vix
pound the vix's picture

To the downside

Wed, 02/26/2014 - 15:43 | 4481364 Levadiakos
Levadiakos's picture

Quicker than Lewensky

Wed, 02/26/2014 - 15:33 | 4481319 rosiescenario
rosiescenario's picture

Perhaps it is buying coming in from Europeans seeking safety??? They tend to buy in our morning market.

Wed, 02/26/2014 - 15:33 | 4481322 BackOffice Slut
BackOffice Slut's picture

wish i got as much action as this "market."

Wed, 02/26/2014 - 15:44 | 4481380 Levadiakos
Levadiakos's picture

This market getting as much action than Bubba Clinton

Wed, 02/26/2014 - 17:15 | 4481921 hobopants
hobopants's picture

Lol ya too bad it seems to have ED. Maybe a dose of viagra can "keep er up"? or with Yellen in command, maybe a bottle of the stuff?

Wed, 02/26/2014 - 15:36 | 4481331 101 years and c...
101 years and counting's picture

when the bulls give up......this pile of shit (formerly known as capital markets) will go down faster than a politician in front of Jamie and Lloyd.

Wed, 02/26/2014 - 15:43 | 4481365 Al Huxley
Al Huxley's picture

They still have a couple of hours.  I don't think the bear camp has been sufficiently demoralized yet to allow for a major selloff.

Wed, 02/26/2014 - 15:45 | 4481387 CrashisOptimistic
CrashisOptimistic's picture

This is the fundamental error most are making.

There are no bulls.  There are no bears.  There are only HFT computers watching stock buybacks and the price of the yen.

Wed, 02/26/2014 - 15:50 | 4481407 buzzsaw99
buzzsaw99's picture

what you are describing is a market. there is no market, there is only old yeller.

Wed, 02/26/2014 - 17:49 | 4482114 asteroids
asteroids's picture

As long as the fucking FED or its minions zaps the futures at will with free POMO money, the market will never fall. Grrr.

Wed, 02/26/2014 - 15:43 | 4481367 Dr. Engali
Dr. Engali's picture

When the pump and dump doesn't work it's time to resort to the dump and pump.

Wed, 02/26/2014 - 15:46 | 4481389 Levadiakos
Levadiakos's picture

Pump and dump is the Clinton model of personal relationship

Wed, 02/26/2014 - 15:43 | 4481374 Ness.
Ness.'s picture

Once again.  ZH article stops the sell-off in it's tracks and puts in the floor.

BTFD.

Wed, 02/26/2014 - 15:50 | 4481406 Levadiakos
Levadiakos's picture

It's about as coincidental as that religously offensive youtube video

Wed, 02/26/2014 - 15:45 | 4481388 CrashisOptimistic
CrashisOptimistic's picture

Psst.

How long has oil been over $100 now?  When will we hear about the GDP hit that causes?

Wed, 02/26/2014 - 15:50 | 4481405 DeficitAlchemist
DeficitAlchemist's picture

Why bring the AUD into this supposed correlation... what was wrong with the more obvious crosses for today?

Wed, 02/26/2014 - 15:54 | 4481425 NoIdea
NoIdea's picture

TSLA still positive. Buy it now! I'm sure I heard some guy say it was going to $1000 by next week.

Wed, 02/26/2014 - 15:56 | 4481445 Winston Churchill
Winston Churchill's picture

Not even a buy at 1000 cents.

Wed, 02/26/2014 - 16:19 | 4481568 Spungo
Spungo's picture

I had to check out what Tesla is up to. They're up to $250 per share? God damn that's crazy. It also happened in a very short period of time. This might be the top. If you have the balls to short Tesla, do it now.

Wed, 02/26/2014 - 16:28 | 4481614 PontifexMaximus
PontifexMaximus's picture

Markets have to steam up, they have to, Yellen needs that and she will come up for it.

Wed, 02/26/2014 - 16:30 | 4481625 ebworthen
ebworthen's picture

Setting up those retail investors, retirees, and 401K/I.R.A. accounts for a good ass raping 2008 style.

The big boys on Wall Street are slowly and carefully cashing out, rotating out.

See the big demand for Treasuries today?

Wed, 02/26/2014 - 16:37 | 4481682 madbraz
madbraz's picture

$130 billion NY FED reverse repo today.  Take "liquidity" out of the market, provide it with collateral fuel that is rehypothecated X times in leveraged bets.  Mr Dudley at work.

Wed, 02/26/2014 - 22:10 | 4483087 Blake721
Blake721's picture

Indeed, Madbraz!

The obscene amount of reverse repo since year-end has received no coverage - anywhere.

What do you make of it aside from lubricating the repo market with high quality collateral?

Wed, 02/26/2014 - 22:51 | 4483217 Tegrat
Tegrat's picture

I'm short the market myself after rolling out of NUGT yesterday.

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