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Trannies Top, MoMos Drop; Bonds And Dollar Flop
Dow Transports surge almost 1% as Nasdaq and many of the momo names started to weaken. The S&P closed at new highs once again despite weakness in HY credit market and a rising VIX on the day. Started by Draghi, EUR strength implied USD weakness and the greenback gave back the week's gains and then some (as AUD is up 1.8% on the week). USDJPY topped 103 - supporting the S&P. Treasury yields continue to push higher (with 30Y +10bps on the week). Gold and silver recovered their Putin losses as the formers ends above $1350. Oil prices tanked all day (testing $100) but reversed hard on chatter of escalation in Ukraine. It seems more than a few traders were hedging into tomorrow's payrolls number with VIX rising and stocks tumbling into the last few minutes (not helped by chatter of a Russian invasion overnight).
USDJPY 103 holds the S&P at record highs...
On the day, Trannies were top, Nasdaq bottom with the S&P pushing new highs once again...
MoMo names surged at the open then drifted...
The last few days have seen credit and vol disconnect from stocks...
Credit markets didn't buy it...
Treasuries were sold all day; 30Y now +10bps...
The US Dollar slid led by EUR and AUD strength...
Gold and silver surged back above pre-Putin levels and oil dropped auntil it spiked in the afternoon (on chatter of war escalation in Ukraine)...
Perhaps the most worrying thing about today is the "most shorted" stocks dumped (providing yet more free ammo for this idiot market to rally to new newer highs)...until it doesn't of course
Charts: Bloomberg
Bonus Chart: Deja Vu all over again...
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Last Thursday I said biotech bubble had seen its top and was going to pop. This is the biggest bubble sector out there. Can't believe market isn't paying attention to it.
A bubble is just the word a pessimist uses for "missed the boat".
Normal humans are pathologically optimistic self-generating bullshit machines.
Gotta follow the herd.
And Bitcoin is doing just fine at $643.
Yeah just don't own an exchange. You either lose everything or you get suicided.
Or try to get cash, delivery's are working fine though.
Gold is winning '14 so far. Not only is it allocated - as long as you stack - but pricewise it's gained huge too.
Gold bitchez.
Yeah screw thinking about the housing and Internet bubbles. It's the new-new-economy. This time it's different.
That's easy, cause missing boats are blamed on bubbles all the time, of the triangular type usually.
really interesting theory, my $$ from shorting the dot bomb bubble in 2000 must have been just sour grapes...
Now they have turned into sour grapes of wrath!
I noticed a real strong up bias in corn and potash maybe Russia remembers the grain embargo !
Cmon Obama isn't going to repeat what Jimmy Carter did.... oh wait.
Is he wearing a sweater?
Unpossible .... oh wait.
The only missing boats will be in the Black Sea
Chipotle is a good buy - $593 per share - $18.4B market cap.
What do they do??
MAKE FUCKING BURRITOS!!!!!
Now I like a nice burrito just like the next guy, but this is just fucking stupid.
Time to print faster Yellen YOU DAMN FUCKING CUNT!!!!!!
Rocket Fuel
somehow way more profit than a taco?
No they are going to take advantage of the avocado shortage by ripping people off even more, per the advice of Goldman and global warming experts
>> the avocado shortage
Ain't seen no shortage. I still pay $.99 for haas. I just had one at breakfast this morning.
It's coming cuz the msm said so...short Fritos-Lay?
Which momo names weakened? not the ones I am short, fukn ridiculous, Robotarder you win, wherever you are
Damn, there must be 2 types of trannies. Wrong website.
Also... Buyers Bailed on BioTech, Bitchez.