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S&P Retraces Half "Putin-Press-Conference" Gains

Tyler Durden's picture




 

AUDJPY (and therefore US equities) is sliding this morning after the ubiquitous pre-open melt-up providing a green open for retail investors to believe in. Notably, from the close before Putin's press conference, the Nasdaq is underperforming all major indices (and Trannies soaring) but this morning has seen almost one-way traffic since the open. Treasuries are unch today as are precious metals (recovering from early losses) and the USD is modestly higher driven by AUD and GBP weakness.

 

S&P futures have retraced half the post-Putin gains...

 

And notably from the close before Putin's press conference, Nasdaq is underperforming (and Trannies soaring)

 

But AUDJPY remains in charge...

 

Charts: Bloomberg

 

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Mon, 03/10/2014 - 11:19 | 4530421 BeetleBailey
BeetleBailey's picture

The Putin Put

Mon, 03/10/2014 - 11:34 | 4530480 Stoploss
Stoploss's picture

Nat gas should have  been over 10$ with the first move.

Somebody fighting very hard to make sure it doesn't go up.

Mon, 03/10/2014 - 11:22 | 4530432 Russian Men
Russian Men's picture

Buy the dip

Mon, 03/10/2014 - 11:26 | 4530455 John McCloy
John McCloy's picture

Buy the dip, buy the rip, buy the USD/JPY pips BUY IT ALL, If war breaks out buy that dip and the sinking ship as the Fed keeps play Just The Tip...

Mon, 03/10/2014 - 11:45 | 4530506 spastic_colon
spastic_colon's picture

It is not ironic that ZH is so uncanny at calling daily bottoms....TPTB are quite literally doing their best to render any dissent impotent and ZH is on their radar....I am sure it is becoming a trading strategy in many circles whether we want it to be true or not.

Mon, 03/10/2014 - 11:50 | 4530521 Serfs Up
Serfs Up's picture

Bankers sure know how to wear out their welcome....

 

One would think that history suggests that over-playing your money grubbing tendencies is a very bad idea and yet, here we are again.

Mon, 03/10/2014 - 16:06 | 4531672 TheRideNeverEnds
TheRideNeverEnds's picture

In fairness to ZH buying the dip works 100% of the time.  Well so does buying the highs but whatever.  If the ES is red just close your eyes and buy em, it works every time. 

Mon, 03/10/2014 - 11:27 | 4530435 Dr. Engali
Dr. Engali's picture

No worries, it will gain back all the losses and them some once they announced it's all fixed again. BTFD. Pavlov's dogs are being conditioned well.

Mon, 03/10/2014 - 11:33 | 4530476 I am more equal...
I am more equal than others's picture

 

 

Interesting comment about Pavlov.  He also discovered a principal called Learned Helplessness. 

Dogs were shocked no matter what they did and then finally laid down and took the pain even when the cage door was open and they could escape.

I think the current manipulation is more Learned Helplessness than conditioned response. 

Mon, 03/10/2014 - 11:22 | 4530438 new game
new game's picture

double top forming-mean anything anymore?

Mon, 03/10/2014 - 11:26 | 4530457 Tippoo Sultan
Tippoo Sultan's picture

To Skynet, it signifies nothing.

Mon, 03/10/2014 - 11:46 | 4530514 Obchelli
Obchelli's picture

Nope technicals mean nothing - there is no market...

 

BTFD and BTFATH

Mon, 03/10/2014 - 11:23 | 4530442 ParkAveFlasher
ParkAveFlasher's picture

BTFPPCG1/2RT

Mon, 03/10/2014 - 11:23 | 4530447 Ness.
Ness.'s picture

The ZH factor at work again?  The lows are in - BTFD.

Mon, 03/10/2014 - 11:27 | 4530459 Pullmyfinger
Pullmyfinger's picture

Yaawwwn. Groundhogs Day Market. Go long on groundhogs.

Mon, 03/10/2014 - 11:27 | 4530461 NDXTrader
NDXTrader's picture

Well, that was right on cue. Thinks for pushing my NDX shorts up 15 points in 10 minutes

Mon, 03/10/2014 - 11:32 | 4530474 fonzannoon
fonzannoon's picture

BTFS&PRH"P-P-C"G

 

Mon, 03/10/2014 - 11:38 | 4530488 DavidC
DavidC's picture

They normally wait for the Europe close to start ramping - I think they've forgotten that Daylight Saving Time has started in the US today and Europe is still open.

DavidC

Mon, 03/10/2014 - 11:56 | 4530544 1fortheroad
1fortheroad's picture

They forgot to reprogram the algo bots.

Mon, 03/10/2014 - 12:10 | 4530593 nakki
nakki's picture

UBS upgrades Fakebook from $72-90. That's right FB should be worth close to 1/4 of a trillion dollars. We are certainly living in interesting time. I wonder if Radio Shack and Sbarro pay for "Likes" on FB?

Mon, 03/10/2014 - 12:32 | 4530680 skwid vacuous
skwid vacuous's picture

saw that earlier, yeah definitely worth another 25% i hear all the kids are using it now...

Mon, 03/10/2014 - 12:11 | 4530595 skwid vacuous
skwid vacuous's picture

I always check aud/jpy before buying more facefuck and twatter!

Mon, 03/10/2014 - 13:45 | 4530965 FiatFapper
FiatFapper's picture

I always check aud/jpy before buying more facefuck and twatter!

That's a great epitaph for the next nail-gun banker suicide.

Mon, 03/10/2014 - 18:38 | 4532430 RMolineaux
RMolineaux's picture

The Australian Dollar is NOT one of the currencies used to establish the US Dollar index.

Do NOT follow this link or you will be banned from the site!