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Late-Day VIX-Selling Panic Closes S&P Green; Bonds/Bullion Bid
For the 2nd day in a row, US Treasuries and precious metals were well bid as it seems safe-havens were in strong demand. EUR strength (repatriation flows after risk-aversion in Europe from Ukraine - EURUSD closed at highest since Oct 11) drove the USD Index lower (-0.15% on the week) and while gold and silver benefitted from that modest weakness they are now up 2% on the week (with gold above $1365 and at 6-month highs). Oil slipped (on SPR release talk) and copper lifted modestly (as Yuan strengthen very mildly). Credit markets have lost all gains from Putin. Once again the magic elixir of the US day-session open spiked AUDJPY and supported stocks up to unchanged from overnight weakness but once Europe close (well in DST terms) US equities drifted sideways to lower leaving the Dow and S&P red into the last hour. Another late-day scramble to sell VIX managed to get the S&P just green!
Totally normal VIX slam into the close... MUST CLOSE GREEN!!!! Mission Accomplished
AUDJPY inseparable from stocks (aside from the same vol as we saw yestrday around the US open)...
But Treasury yields tumble - regaining all losses from payrolls...
Stocks remain green from pre-Putin but gave back some more of those gains today...
Gold is sending warning signs that all is not well in the risk world...
But it's clear that this week has been about risk not growth...
As EUR dominated the USD - EURUSD closed above 1.39 for the first time since Oct 2011
Credit markets are extremely skeptical and protection is bid well beyond pre-Putin levels...
Charts: Bloomberg
Bonus Chart: Herbalife bears must have been rejoicing... but it really didn't end that bad...
Bonus Bonus Chart: It seems the dead-cat did bounce then died again...
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My SLV calls were loving today. Up 100% and 60% today.
Paper silver is like Mt Gox. You might get your money back, you might not. Cash out and take the physical.
Agreed, but if you're doing short-term strategies around SLV options, your risk is relatively low.
My favorite is the dead cat bounce pics... gotta love those little guys.
Not to hot and not to cold.
The Porridge was just right!
the world almost ended. luckily, stocks closed green for the 1,345th straight day.....OR ELSE......
Yea, have to keep the con fedence going.
So let me see if I can figure this out - tomorrow morning we "surprisingly" beat the retail sales consensus by 0.1% due to soaring gas prices. The algos don't look at the particulars and we have a massive two day rally forcing everyone to cover and taking out the potential H&S on the Dow. All the while the big boys are distributing. Then on Sunday all hell braka loose in the Ukraine. On Monday we open 250 points lower and no shorts make money on it.
O have to admit, the IQ level in ZH is much higher than anywhere else, touche BRO!
Fucking VIX...
The bane of my existance long ago.
When I see charts like this, I think, look at all the money I didn't lose....
The dead cats!!
Have't you learned yet? If the ES is red just close your eyes and buy em because they will be green shortly thereafter.
Where's Carl "Tweet Boy" I-Con?
I-Con must be in the jacuzzi with 'Andrew Ross Sorkin' at the Tesla suite @ SEMA...Las Vegas
P.S. Tyler> I said Treasury yields were coming back in. The aud/jpy <> aud/usd Vs usd/jpy correlation is breaking.
I'd look for some USD strength over the next 48 hours. (lack of U.S. macro news into the W/E)
Have a nice day Carl :-D
The market is pricing no war and never has been all along and there will be no war. The shooting has stopped. Putin has what he wanted and will agree clandestinely to help fashion an 'out' for Messiah and Lurch to make it look like they stopped him in his tracks. An even larger and more relieved Relief Rally(c) shall ensue.
Stock's wouldn't believe it if a air burst nuke had just detonated over Wall St.
The S + P would still close green.
It would however be much better if we had a stockbroker residing @ 1600 Pen.
Then they might have reason for their confidence.With the weasel, narcissist there I'm
not so sure. Obozo is mentally unstable IMO.He believe his own bullshit.
my eyes had an orgasm today looking at my paper gold positions
chicken and egg. you say the vix slam caused the ES /sp runup, I say the sp/ES run-up caused the vix slam.
The VIX....??? CDS....??? ETF...? TBOND...???
One virutal instrument supporting another virtual instrument backed by nothing! You gotta love the audacity of it all.