Stocks Close At Record High On Russian ICBM Launch

Tyler Durden's picture




 

It would appear the BFTATH mentaility has morphed into a BTFICBMD perspective as the "market" shrugs off an 'apparently expected' ICBM launch to soar to new record highs with the best day in stocks for months (if not years). USDJPY was in charge intraday as 102 was flushed through (with JPY's biggest drop in 2 months) and dragged stocks (led by the "most-shorted") non-stop. Equity volumes were 20-30% below yesterday's. The USD was relatively unmoved on the day (modestly higher oddly on a risk-on day). Gold and oil prices slipped (but remain in the green on the week) as Silver slipped into the red. Copper rallied. Treasury yields surged 6-8bps (the biggest jump in 4 months) as 2s10s steepened 6bps. VIX was cracked 2 vols lower to 14%. The S&P closed at 1873, just 27 points shy of Goldman's 2014 year-end target.

 

For a brief few minutes, stocks actually sold off - when Russia launched an ICBM - but what a great opportunity to buy that was:

 

and across all the indices - the launch of an ICBM was hardly noticed (especially Trannies)... evidently the bulk of gains wer ein the US open to EU close session...

 

Credit was a little more apprehensive of the record highs... from the EU close and again from the ICBM launch...

 

But USDJPY was in charge of stocks... fun-durr-mentals!!!

 

Which smashed the Russell to all-time-highs, the S&P to all-time highs (and therefore green for 2014) with only the Dow in the red still since the end of 2013...

 

Financials pushed back into the green for 2014 leading the way along with Healthcare (Biotechs) today...

 

The Fantastic-Five were mixed today with all of them weak after Europe closed...

 

Treasury yields smashed higher with the biggest yield rise in 4 months... with notable steepening in 2s10s

 

The USD went dead-stick after Europe's close to end up around 0.5% on the week...

 

While correlations across risk assets were high, the afternoon - post US open, gold decoupled - not selling off as much as would have been expected...

 

Gold and oil sold off and recoupled with copper as Silver slid into the red on the week...

 

Since its 1979 inception, the small-cap Russell 2000 has been +3% to a 52-week high only 1 other time, Feb 29, 2000... that didn't end well...

Charts: Bloomberg

Bonus Chart: Stocks are the most divergent from broad risk sentiment since the big correction in 2012 (h/t @Not_Jim_Cramer)

 

Bonus Bonus Chart: The Nikkei's disconnect from USDJPY has been recoupled...

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Tue, 03/04/2014 - 17:08 | 4508921 22winmag
22winmag's picture

They test while we mothball.

Tue, 03/04/2014 - 17:13 | 4508954 Mr Pink
Mr Pink's picture

This market could survive anything....like a cockroach

Tue, 03/04/2014 - 17:16 | 4508986 camaro68ss
camaro68ss's picture

great way to goose MyRa

Tue, 03/04/2014 - 17:23 | 4509022 ZerOhead
ZerOhead's picture

Does John Kerry know who they test-fired it at?...

Just askin...

Tue, 03/04/2014 - 17:29 | 4509063 swass
swass's picture

Well.. Finally those capitalist pigs will pay for their crimes.. Eh, comrades, eh?

Tue, 03/04/2014 - 19:49 | 4509677 Keyser
Tue, 03/04/2014 - 21:00 | 4509934 Fredo Corleone
Fredo Corleone's picture

The old SS-25. Ah, Cold War days.

Tue, 03/04/2014 - 17:31 | 4509073 oak
Tue, 03/04/2014 - 17:50 | 4509169 ZerOhead
ZerOhead's picture

Just look around... we're all doomed.

Tue, 03/04/2014 - 17:17 | 4508988 Beam Me Up Scotty
Beam Me Up Scotty's picture

At least it was only one missile they tested. I'll worry when they test a few hundred at one time. Since we have about 90 minutes I'm sure that will be the lie told to everyone, they are just testing a few hundred ICBMs and so are we.

Tue, 03/04/2014 - 17:27 | 4509041 robertocarlos
robertocarlos's picture

It's 15 minutes or less.

Tue, 03/04/2014 - 19:52 | 4509695 Keyser
Keyser's picture

Less than that if it's a boomer off either coast. Try 90 seconds. 

Tue, 03/04/2014 - 17:18 | 4508991 Levadiakos
Levadiakos's picture

Thoink of the rally that would ensue if the Russians would fire on Washington!!!

Tue, 03/04/2014 - 18:55 | 4509464 max2205
max2205's picture

Buy when the first shot is fired....i don't think they had ICBM'S then.

Tue, 03/04/2014 - 19:49 | 4509679 sleigher
sleigher's picture

Think of the executive order Barry would sign as it re-enters the atmosphere.

Tue, 03/04/2014 - 17:29 | 4509064 Global Hunter
Global Hunter's picture

KRSE, THE Keith Richards Stock Exchange

Tue, 03/04/2014 - 18:02 | 4509243 arnoldsimage
arnoldsimage's picture

till you buy in.

Tue, 03/04/2014 - 19:30 | 4509575 Son of Captain Nemo
Son of Captain Nemo's picture

 This market could survive anything....like a cockroach

Mr Pink

That will come in handy as the cockroach monitors our investments when we're all gone!

 

Tue, 03/04/2014 - 17:14 | 4508955 HyBrasilian
HyBrasilian's picture

BTFHATH[Mushroom Cloud]!

Tue, 03/04/2014 - 17:18 | 4508996 ParkAveFlasher
ParkAveFlasher's picture

BTFMAD

Tue, 03/04/2014 - 17:41 | 4509126 Karl von Bahnhof
Karl von Bahnhof's picture

ICBM is the new QE.

Next: Yellen fired three minuteman missiles, to support current SaPoorski level of 2900.

Tue, 03/04/2014 - 19:22 | 4509550 Urban Redneck
Urban Redneck's picture

We need a Major Kong graphic to complement Donkey Kong and The Deer

Tue, 03/04/2014 - 17:14 | 4508962 Timmay
Timmay's picture

BTFWTF.

Tue, 03/04/2014 - 17:16 | 4508983 Pig Circus
Pig Circus's picture

Of all the bullshit I've witnessed in this market the past 25 years today takes the cake. What a total fucking Pig Circus.

Tue, 03/04/2014 - 17:24 | 4509030 Ms. Erable
Ms. Erable's picture

Or a pig-fucking circus; retail = the pig.

Tue, 03/04/2014 - 17:38 | 4509113 Dr. Richard Head
Dr. Richard Head's picture

Muppet fuckers.  I like the sound of it better.  Hell, it would be a great band name.

Tue, 03/04/2014 - 17:17 | 4508994 Diablo
Diablo's picture

Tyler, this was planned WEEKS ahead...and the USA knew about. are you really that ignorant or just trying to sensationalize non-news again?

 

Tue, 03/04/2014 - 17:22 | 4509017 Element
Element's picture

But the algos are so brave ... it's inspirin' ... you go guys!

Tue, 03/04/2014 - 17:23 | 4509025 RafterManFMJ
RafterManFMJ's picture

Because 0bongo.

Tue, 03/04/2014 - 18:57 | 4509331 ZH Snob
ZH Snob's picture

it's vital to grab that yield before the mushroom cloud appears.  it might not be there afterwards.

Tue, 03/04/2014 - 19:05 | 4509504 Berspankme
Berspankme's picture

The puppets in Kiev only need to look at Greece to see their future. Shit is hilarious and confirms that stupidity has no bounds

Tue, 03/04/2014 - 17:08 | 4508929 fooshorter
fooshorter's picture

How about those IYR's...

Tue, 03/04/2014 - 17:09 | 4508930 spastic_colon
spastic_colon's picture

this is the rally that was supposed to happen yesterday so they made up for it today.

Tue, 03/04/2014 - 17:10 | 4508935 Gringo Viejo
Gringo Viejo's picture

"STOCKS CLOSE AT RECORD HIGH ON RUSSIAN ICBM LAUNCH"
or
why I love ZH. Tyler.....you're the best!

Tue, 03/04/2014 - 17:10 | 4508938 TeamDepends
TeamDepends's picture

We're on the highway to Hell

No stop signs, speed limits

Tue, 03/04/2014 - 17:12 | 4508948 IridiumRebel
IridiumRebel's picture

"Hey Yellen! Paid my dues....playing in a HFT band."

Tue, 03/04/2014 - 17:20 | 4509007 TeamDepends
Tue, 03/04/2014 - 17:12 | 4508952 29.5 hours
29.5 hours's picture

 

 

Apparently. Too bad we are not in the driver's seat...

 

 

Tue, 03/04/2014 - 17:10 | 4508942 falak pema
falak pema's picture

so now stall correlation becomes blast off ?

Who is the pilot on this plane?

Tue, 03/04/2014 - 17:18 | 4508998 Beam Me Up Scotty
Beam Me Up Scotty's picture

Otto Pilot

Tue, 03/04/2014 - 17:11 | 4508943 IridiumRebel
IridiumRebel's picture

if we have problems hitting DOW 20K, they can nuke a city and we will get there no problem. Krugman was right.

Tue, 03/04/2014 - 17:11 | 4508945 Shizzmoney
Shizzmoney's picture

War is bullish for markets

Blood ($BLD), Death ($DTH), and Destruction ($DES) all up in mid day trading.  

Common Sense and Decency also saw losses.

Tue, 03/04/2014 - 17:14 | 4508968 29.5 hours
29.5 hours's picture

 

 

"Common Sense and Decency also saw losses"

Yes, but on low volume.

Tue, 03/04/2014 - 17:16 | 4508984 Wait What
Wait What's picture

nuclear war is bullish for markets

fixed it for ya.

i get the feeling i'd be making money as a trader just by BTFD even as American cities burned under a nuclear mushroom. kinda sick, but while the music is playing... we've gotta dance!

Tue, 03/04/2014 - 18:09 | 4509276 The man with po...
The man with pointy horns's picture

All of the EMPs from the detonated nuclear warheads would knock out nearly all electrical devices: no internet servers, no computers, no mobile phones, no ETFs, no markets, no faceboob or tweeting. For the survivors I'm not sure what the biggest shock will be: the nukes or the lack of gizmos to satisfy their narcissism.

Tue, 03/04/2014 - 18:38 | 4509409 Cygnus Nigri
Cygnus Nigri's picture

That would be rough on the ole shitcoins....

Tue, 03/04/2014 - 17:14 | 4508949 irie1029
irie1029's picture

The upbeat is Obama's budget promise of stellar growth.

Tue, 03/04/2014 - 17:13 | 4508958 irie1029
irie1029's picture

Hurry and Short Sanity before it is too late!!!

Tue, 03/04/2014 - 17:13 | 4508960 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

In the grim humor category.

http://www.krmg.com/news/news/local/man-found-decapitated-police-suspect...

Man found decapitated, police suspect suicide Wife found the body of her husband

The incident happened near 46th and Sheridan.

Police say a woman who lives in the home found her husband dead in the garage.

His hands and feet were tied and the body had been decapitated.

Tulsa police told KRMG news the death was due to suicide.


Tue, 03/04/2014 - 17:21 | 4509009 Beam Me Up Scotty
Beam Me Up Scotty's picture

Well you can only cut your own head off once. As opposed to shooting yourself in the back of the head 3 times.

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