• Sprott Money
    04/29/2016 - 05:58
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Stocks Close At New Record High On Russian Invasion, GDP Decline And Pending Home Sales Miss

Tyler Durden's picture




 

With the Ukraine now openly appealing to the world to halt what in its own words is a Russian invasion, it only made sense that after the bigger than expected downward revision to Q4 GDP, and the miss in Pending Home Sales, that the S&P would close at a new all time high. Oh, there was that surge in the Chicago PMI which confirmed that the February weakness across all other data was not due to the weather, and which is all that the market decided to focus on.

And so once again, the fact that it was 3:30 pm at the end of the day - easily the most "fundamental" driver of stock valuation in the past five 5 years - overruled all bad news, or is it good news? The VIX was, as usual, slammed into the close in a mirror image of the last hour ramp"

It is confusing what the catalyst for stock surges any more is - is bad good news great, or is good news greater - aside from the Fed's relentless growing balance sheet of course.

We are at a loss what else to highlight here: maybe the fact that despite the sheer euphoric idiocy the Nasdaq did finally closer lower.

All one can do at this point is sit back and laugh at the complete abortion that Ben Bernanke's, and now Janet Yellen's centrally-planned "market" has become.

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Fri, 02/28/2014 - 17:05 | 4490930 alien-IQ
alien-IQ's picture

That looks like a headline right out of The Onion.

Fri, 02/28/2014 - 17:15 | 4490991 krispkritter
krispkritter's picture

'Cri-Mea Toooo the Mooooon!' What a joke the markets are...

Fri, 02/28/2014 - 17:19 | 4491013 flacon
flacon's picture

Chuck Schumer ejaculated all over the place at 3:30pm while looking at nude photos of Janet - oh, I mean Ben. 

Fri, 02/28/2014 - 17:32 | 4491096 Obchelli
Obchelli's picture

Walmart website is down too - never seen this before

Fri, 02/28/2014 - 17:36 | 4491123 adr
adr's picture

Whol-E-Fuck it is down. That's crazy.

Fri, 02/28/2014 - 18:42 | 4491566 GetZeeGold
GetZeeGold's picture

 

 

WW3......BOOYAH!!!

Fri, 02/28/2014 - 18:48 | 4491607 James_Cole
James_Cole's picture

Stocks Close At New Record High On Russian Invasion, GDP Decline And Pending Home Sales Miss

If only CNN could come up with such great headlines, throw the audience through a loop though. 

Fri, 02/28/2014 - 19:07 | 4491710 Manthong
Manthong's picture

I can hardly wait until the Chinese dump a highly discounted .5T in dollar reserves all at once and announce that they have 7000 tons of gold.

The Dow should break 20,000 then.

It’s getting to be a lot like the Weimar shares market.

Fri, 02/28/2014 - 19:40 | 4491877 Kirk2NCC1701
Kirk2NCC1701's picture

20,000?  Pessimist!

Fri, 02/28/2014 - 19:40 | 4491879 Cattender
Cattender's picture

These are the strangest days i've ever seen....... where will it end?

Fri, 02/28/2014 - 17:32 | 4491098 GolfHatesMe
GolfHatesMe's picture

Yahoo buddies

Fri, 02/28/2014 - 17:43 | 4491045 toady
toady's picture

It only makes sense, moral destruction, national destruction, hell, any destruction...

It's all creative destruction!

Bullish bitches!

Fri, 02/28/2014 - 17:18 | 4491009 Buckaroo Banzai
Buckaroo Banzai's picture

Why is anyone surprised? After all, it's an old Wall Street saying: "when Russian troops cross borders, BUY STAWKS!"

Fri, 02/28/2014 - 17:20 | 4491034 flacon
flacon's picture

"Uncertainty" elicits "CONfidence" - apparently. 

Fri, 02/28/2014 - 17:25 | 4491055 spastic_colon
spastic_colon's picture

wait till monday when the con game continues....all that nasty war angst will be forgotten and on to recorder highs!

Fri, 02/28/2014 - 17:20 | 4491028 ncdirtdigger
ncdirtdigger's picture

War is good for bidnez bitchez.

Fri, 02/28/2014 - 18:30 | 4491511 mt paul
mt paul's picture

read the head line

and started to laugh 

 

what is a mouse

when it spins....

the higher the few.. 

Fri, 02/28/2014 - 18:46 | 4491590 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Sometimes when I look at that 3:00 pm ramp, I wonder to myself if there might be some negative blowback coming in the future.

Fri, 02/28/2014 - 17:08 | 4490934 Ham-bone
Ham-bone's picture

that was exciting...up, then down, then up.  And completely lacking any significance.

At this pace, I really worry we'll run out of sellers.

Fri, 02/28/2014 - 17:09 | 4490954 alien-IQ
alien-IQ's picture

It is a tale. Told by an idiot, full of sound and fury, Signifying nothing

Fri, 02/28/2014 - 17:11 | 4490968 Thought Processor
Thought Processor's picture

 

 

I don't think the real fun starts until futures are closed.

 

Like Locking everyone in the room before you start the fire.

 

 

Fri, 02/28/2014 - 17:12 | 4490970 prains
prains's picture

signifying nothing....but a fart in our general direction

Fri, 02/28/2014 - 18:36 | 4491534 mt paul
mt paul's picture

say what

 

was just thinking the same

out out brief candle ...

Fri, 02/28/2014 - 17:12 | 4490975 HaroldWang
HaroldWang's picture

And to think we were oh so close to getting the deer. Damn! Would have made my weekend.

Fri, 02/28/2014 - 17:07 | 4490940 Seize Mars
Seize Mars's picture

Jesus. What a fuckin joke.

Fri, 02/28/2014 - 17:08 | 4490947 digitlman
digitlman's picture

SHIT SHOW.

Fri, 02/28/2014 - 18:31 | 4491514 Pig Circus
Pig Circus's picture

Pig Circus

Fri, 02/28/2014 - 18:37 | 4491542 mt paul
mt paul's picture

cow tower...

Fri, 02/28/2014 - 17:08 | 4490949 Martial
Martial's picture

Wait until you see next Friday's headline: Nukes Fly As WW3 Starts, S&P Doubles

Fri, 02/28/2014 - 17:27 | 4491066 ParkAveFlasher
ParkAveFlasher's picture

WW3 will never start.  The installation of Obama was a gift to Russia.

Fri, 02/28/2014 - 17:29 | 4491082 Tsar Pointless
Tsar Pointless's picture

When you go to sleep at night, are you worried that Barack may be under your bed, ready to come out and tickle you until you piss yourself?

I mean, I hated Bush and am not a huge fan of Obama, but you people take things to another level with the colored man.

Fri, 02/28/2014 - 18:25 | 4491484 Seize Mars
Seize Mars's picture

Tsar

You people!? What do you mean, you people?

http://en.wikipedia.org/wiki/File:DowneyKirkLazarusTTCostume.jpg

Fri, 02/28/2014 - 18:39 | 4491548 mt paul
mt paul's picture

we the people....

Sat, 03/01/2014 - 07:00 | 4492906 bentaxle
bentaxle's picture

You people, you don't know what you're doing, so it needs some rich guy, (preferably rich banker guy) to do the decent thing and sort it all out for ya! (With an army.)

 

S/off

Fri, 02/28/2014 - 18:24 | 4491479 ArrestBobRubin
ArrestBobRubin's picture

You forgot the last bit Ron:

Nukes Fly As WW3 Starts, S&P Doubles, Gold crashes to $5 p/oz

Fri, 02/28/2014 - 18:46 | 4491591 gtb
gtb's picture

Why not, isn't that what it costs to dig it out of the ground?

Sat, 03/01/2014 - 09:07 | 4492999 Agstacker
Agstacker's picture

LOL read this guy in comments, he calls gold a 'worthless metal'.

 

http://seekingalpha.com/article/2048363-reading-the-tea-leaves-yuan-down...

Fri, 02/28/2014 - 17:09 | 4490956 SteveNYC
SteveNYC's picture

Why the surprise?

Fri, 02/28/2014 - 17:09 | 4490960 funthea
funthea's picture

And most people are still oblivious to what is going on...

Fri, 02/28/2014 - 17:10 | 4490961 magne13
magne13's picture

Thank God, thought my 1850 Puts were going to never get hedged...Who ever is the ONLY real player in the eminis, thank you, I am now net long and waiting to sell MOC

 

Fri, 02/28/2014 - 17:10 | 4490962 Colonel Klink
Colonel Klink's picture

#WINNING!

Fri, 02/28/2014 - 17:10 | 4490965 HaroldWang
HaroldWang's picture

BS close but internally biotech bubble seems to be letting some air out and social turning over a bit as well. If they go, the momo goes and the mkt dumps. But that's a BIG if.

Fri, 02/28/2014 - 17:14 | 4490977 Thought Processor
Thought Processor's picture

Noticed that too.  Looks like we're beginning to roll over here.

 

(edit) what am I saying, the algos would never let this roll over.

 

Unless er.....  it's planned. 

Fri, 02/28/2014 - 17:29 | 4491081 Aknownymouse
Aknownymouse's picture

I wish I had access to Schumer's nephew account.

Fri, 02/28/2014 - 17:13 | 4490980 prains
prains's picture

don't forget the polar vortex wangwang

Fri, 02/28/2014 - 17:28 | 4491078 Ham-bone
Ham-bone's picture

shock!?!   Gold and S&P 500 1:1 inverse relationship today???  Funny how that works.

Fri, 02/28/2014 - 18:42 | 4491564 mt paul
mt paul's picture

36 above zero  today, hard sunshine

up in here in polar vortex land

 

north of the alaskan range 

Fri, 02/28/2014 - 17:11 | 4490973 RafterManFMJ
RafterManFMJ's picture

Stocks Close At New Record High On Russian Invasion, GDP Decline And Pending Home Sales Miss

Seems legit.

Fri, 02/28/2014 - 17:12 | 4490979 jubber
jubber's picture

well I guess even if the Chinese PMI is the worst on record we will be at new ATH Monday at close

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