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JPY Ramp Rescues Stocks (For Now) From Plunge To 3-Week Lows

Tyler Durden's picture




 

When S&P 500 futures opened they tumbled ten points very quickly along with JPY crosses. This pressed US stocks to their lowest intraday level since 2/24, hovering at key post-correction lows support. However, thanks to an impressive liftathon in JPY-carry, S&P futures rallied all the way back to green - until China opened with its wider trading bands slowing carry-traders. Gold prices surged (as stocks fall) then fell back (as stocks rallied) and are now unchanged. Key overnight will be Europe's reaction as Germany appeared to edge away from sanctions against Russia while Barroso and Van Rompuy were all-guns-blazing.

 

Gold prices jumped above $1390 as they opened but faded back as stocks recovered...

 

S&P futures hit 3-week lows...

 

But were rescued by a JPY ramp... until China opened...

 

Charts: Bloomberg

 

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Sun, 03/16/2014 - 22:22 | 4557130 Its Only Rock N Roll
Its Only Rock N Roll's picture

Thank God for free market capitalism to price all of this efficiently

 

Sun, 03/16/2014 - 22:39 | 4557180 smlbizman
smlbizman's picture

is it just me or are they trying harded to kep silver down as opposed to gold?

Sun, 03/16/2014 - 22:55 | 4557205 X_mloclaM
X_mloclaM's picture

it's just you

Sun, 03/16/2014 - 23:02 | 4557221 Bonapartist
Bonapartist's picture

The only group more persecuted than the **** are the silverbugs.

Sun, 03/16/2014 - 23:44 | 4557317 The Vineyard
The Vineyard's picture

The Yen is doing great.  Money printing actually works in a deflationary environment.  Go figure.  Bastards.

Mon, 03/17/2014 - 00:10 | 4557367 whotookmyalias
whotookmyalias's picture

It's all good. My gubmint told me so.  Soon we'll all be rich!

Mon, 03/17/2014 - 07:06 | 4557708 Australian Economist
Australian Economist's picture

How many accounts do you have to spam your shitty blog? Why haven't you been banned yet?

Mon, 03/17/2014 - 07:17 | 4557719 Headbanger
Headbanger's picture

Fuck off!

 

Now!

Sun, 03/16/2014 - 22:23 | 4557133 Seize Mars
Seize Mars's picture

The carry trade is the best statistical justificaton for the fact that the S&P is a purely FED-driven number. Even a fucking idiot can see this.

Sun, 03/16/2014 - 23:11 | 4557251 Spitzer
Spitzer's picture

I don't think Nuriel Roubini can see this....

Sun, 03/16/2014 - 22:25 | 4557144 Kaiser Sousa
Kaiser Sousa's picture

witness yet again the fucks in London town attacking Silver right before the open...

right, all that has just occured is bearish for the other only form of real money...

DEATH TO THE MONEYCHANGERS.....

keep stackin....i am.......

http://www.kitco.com/charts/livesilver.html

Sun, 03/16/2014 - 22:29 | 4557155 LetThemEatRand
LetThemEatRand's picture

What really blows is that they are not even spending their own money on the naked shorts.  They are spending our money (future tax debt owed by you and me) via the Fed.  

Sun, 03/16/2014 - 22:39 | 4557179 Kaiser Sousa
Kaiser Sousa's picture

only the old lady works now so they get only taxes from her...

i stacked and opted out 20 years ago on principle that i would not give them a fucking penny that i didnt have to...

they can kiss my ass.....

 

Sun, 03/16/2014 - 22:46 | 4557189 Grande Tetons
Grande Tetons's picture

You are a wise man Kaiser Sousa. No sarc. 

The system deserves to get fucked a new asshole. I always tell people that their enemies are banks and governments....... in no particular order.

Sun, 03/16/2014 - 23:43 | 4557312 Kaiser Sousa
Kaiser Sousa's picture

thank u sir...hope 2 c u on  the other side.....

Mon, 03/17/2014 - 08:07 | 4557834 arby63
arby63's picture

ditto. I work for myself now and do EVERYTHING within my power to avoid giving these fucks a dime. They have taken our country and flushed it down the toilet.

Sun, 03/16/2014 - 22:57 | 4557210 X_mloclaM
X_mloclaM's picture

naw, we aint payin' in full, best case, they (the owners) get partial payment

Sun, 03/16/2014 - 22:28 | 4557151 Seize Mars
Seize Mars's picture

because real economic activity is collapsing.

Sun, 03/16/2014 - 23:03 | 4557226 RottenAlpha
RottenAlpha's picture

Correct, and my point is that Emg Mkts are falling off a cliff this time around.

Mon, 03/17/2014 - 01:04 | 4557429 X_mloclaM
X_mloclaM's picture

Correct, because their export customers are the legacy economies. See GS circa Jan 7, 2014, someone else can post chart

Sun, 03/16/2014 - 22:35 | 4557172 DirkDiggler11
DirkDiggler11's picture

FUCK OFF AGAIN AND PIMP YOUR SHIT ELSEWHERE !

ZH is not Craigslist you Reggie Wannabe.

Sun, 03/16/2014 - 22:51 | 4557198 RottenAlpha
RottenAlpha's picture

Didnt know you owned ZH......

Sun, 03/16/2014 - 22:53 | 4557202 Seize Mars
Seize Mars's picture

Pimping a blog just isn't that cool.

Sun, 03/16/2014 - 23:01 | 4557219 RottenAlpha
RottenAlpha's picture

Thanks, and he's got real solid arguments

Mon, 03/17/2014 - 00:39 | 4557408 Bonapartist
Bonapartist's picture

pimpin' ain't easy

Mon, 03/17/2014 - 03:50 | 4557561 Squid-puppets a...
Squid-puppets a-go-go's picture

well, he pimped it responsibly and honestly - he provided a raw web link. At least he wasnt one of these jerks that try to dupe you with a Bitches or Bastards link 

Sun, 03/16/2014 - 22:33 | 4557167 TheRideNeverEnds
TheRideNeverEnds's picture

Better buy the dip now because by the end of the week you will probably be buying the all time highs again.

Mon, 03/17/2014 - 00:00 | 4557346 playnstocks
playnstocks's picture

shit.. 30 point rally monday.. super-ramp at the close.. FN insane!

Mon, 03/17/2014 - 05:51 | 4557479 TheRideNeverEnds
TheRideNeverEnds's picture

Hell we are already up nearly 30 points off the lows of the open, try up 50 on the day from the lows. 

 

The chance of us NOT making new higher highs from here is fucking zero. Z.E.R.O.

Sun, 03/16/2014 - 22:35 | 4557171 q99x2
q99x2's picture

Hurry. WWIII has started. You'll miss out if the nukes start dropping on the stock exchanges.

Don't pass up the chance of a lifetime. BTFD.

Sun, 03/16/2014 - 22:47 | 4557192 disabledvet
disabledvet's picture

I think gold is in danger of an Epic Fail here...but we'll see.
The USA created a Coalition of the Willing when Iraq invaded otherwise insignificant Kuwait.

Ukraine is "Kuwait on steroids" and many a World Leader is pretty much sick and tired of paying out the nose "all this Russian fuel"and all the rest of this Russian god damn fucking bullshit The simplest solution is to simply take out Russia and not have the problem anymore.

President Putin has no intention of not only backing down...but of further expansion and escalaation...and indeed is doing just that. If the international community starts to rally around this thing that veto at the UN ain't gonna mean SHIT.

Obviously if there really is a plan to "end this problem once and for all" the need for sanctions will be obviated. This will become a question of taking Moscow and then securing their borders with "coalition of the willing partners."

"Russia" for all intents and purposes...would cease to exist.

Sun, 03/16/2014 - 22:54 | 4557204 LetThemEatRand
LetThemEatRand's picture

It really is disgusting that Russia thinks that its gas belongs to it and not the United States of BPShellChevron.

Mon, 03/17/2014 - 00:29 | 4557398 whotookmyalias
whotookmyalias's picture

Not speaking about anyone in particular, but I think the anti gold shrills on this board don't understand that to people who prefer and/or stack gold, the value is not measured in terms of fiat.  That is unless there is a risk that someone is going around clipping coins.

 

http://en.wikipedia.org/wiki/File:Hoxne_Hoard_coins_6c.jpg

Sun, 03/16/2014 - 23:05 | 4557230 ebworthen
ebworthen's picture

LOL!

Napoleon failed, Hitler failed, and so will anyone else.

The U.S. is more at risk than any other nation on earth; completely lost their way and betrayed the foundation.

If you served what you thought was the ideals and The Constitution I appreciate it; however, you must realize that what you fought for has been sacrificed on the altar of mammon.

Mon, 03/17/2014 - 01:07 | 4557432 X_mloclaM
X_mloclaM's picture

i get the first part, but is this just floral?  "been sacrificed on the altar of mammon"

wtf is that

Mon, 03/17/2014 - 04:00 | 4557566 Squid-puppets a...
Squid-puppets a-go-go's picture

same as what reggae singers mean by referencing Babylon

if ur still not sure, research by smoking lots of dope and listening to damian marley

btw disabledvet, anyone is a dangerous loon if they are srsly suggesting attacking russia. it doesnt even need explaining why.

Mon, 03/17/2014 - 06:45 | 4557689 caShOnlY
caShOnlY's picture

i get the first part, but is this just floral? "been sacrificed on the altar of mammon" wtf is that

Think of mammon as overconsumption using credit (someone else's money) without sacrifice (saving) and/or any regard of one's fiscal future (I want it and I want it NOW!!).      

Sun, 03/16/2014 - 23:06 | 4557233 Bonapartist
Bonapartist's picture

Nobody is going to do shit and Putin knows it- the EU couldn't handle Libya and the US is in an election year.

Mon, 03/17/2014 - 08:10 | 4557844 Keyser
Keyser's picture

Obama is a sock-puppet and the CFR doesn't have the nutz to pull the trigger by putting boots on the ground in the Ukraine. 

Sun, 03/16/2014 - 23:11 | 4557248 i_call_you_my_base
i_call_you_my_base's picture

I don't think any of the sort will happen. The West coalition is lacking in conviction and everyone can see that this was just an epic US panty raid clusterfuck. They will let putin take Crimea. Russia will weaken Ukraine and let it fail. The EU will never back it fully. Putin will wait it out and Ukraine will fall back into Russian influence. This round is mostly over. Either the West just wanted to fuck with Putin or they failed at taking Ukraine. But the outcome is the same regardless.

The only other outcome is that the US military funding won't be reduced now. Will likely increase.

Mon, 03/17/2014 - 04:06 | 4557576 Squid-puppets a...
Squid-puppets a-go-go's picture

sharp analysis, dude, but:

the two wildcards are whether eastern ukrainian pro russian agitants will push too far too fast, and whether the neo-nazis - understanding that time is not on their side - will deploy ukrains military suicide fashion expecting it to draw in the West to their defence (which will be a terrible miscalculation on their behalf, but it wouldnt be the first time nazis have foolishly stuck the bear with a stick)

Sun, 03/16/2014 - 23:23 | 4557278 EconomicGenocide
EconomicGenocide's picture

Obviously you have been disabled while fighting one of Israel's wars and just cant accept the fact that you fought to protect the American peoples REAL enemy. Shake it off, and quit making an arz of yourself!!

 

That said Iraq invaded Kuwait because the US oil companies were slant drilling under Iraq! What is it with you Vets, you just cant accept that you fought for the destruction of our country.!!

Sun, 03/16/2014 - 23:34 | 4557289 Bonapartist
Bonapartist's picture

A shitty economy is a US armed forces recruiter's best friend- $10-an-hour Mexicans to swing the hammers and dumb crackers to fill the ranks.

Mon, 03/17/2014 - 06:46 | 4557691 TruthInSunshine
TruthInSunshine's picture

Despite MSM daily proclamations (propaganda) of a "recovery," few, if any business owners that typically deal with Mexican laborers have ever witnessed a time such as now where so many of these Mexican laborers have gone or are heading back to Mexico, as their job prospects are better in Mexico, and wages are actually rising there (while declining in real terms in the U.S.).

Mon, 03/17/2014 - 00:05 | 4557343 HarryWanqer
HarryWanqer's picture

Did Cyber Command hijack this account? Is that you Eddie?

Don't forget to end all your posts with something to electrify their souls before they enter the meat grinder.

disabledvet, brought to you by "the land of the free and the home of the brave"

Mon, 03/17/2014 - 06:37 | 4557677 negative rates
negative rates's picture

This is the first sign of a dry powder straight A student going insanely nuts. Your country's rating just dropped to ABC from your AAA, sucker. So wake up those tired and achy bones and get back to where you belong.

Sun, 03/16/2014 - 23:31 | 4557223 ebworthen
ebworthen's picture

Desperate struggle to maintain fiat hegemony and crush Gold, Silver, and real people.

It will fail; who knows when.

Sun, 03/16/2014 - 23:42 | 4557310 enloe creek
enloe creek's picture

europe and US are not about to do shit they tried to get a friendly political regiem in Ukraine and wound up with zilch so they are out of ideas except whining at the U N russia needs the black sea under it's control and there isn't a thing the west can do about it

Mon, 03/17/2014 - 00:50 | 4557415 Kirk2NCC1701
Kirk2NCC1701's picture

So, after the Ukraine secession and Congress's intent to "do something" after their holidays, can we expect another PM smackdown this week?

Especially if someone suddenly 'dumps', say, 25 tons of Gold from a Malaysian plane? / sarc.

Mon, 03/17/2014 - 01:11 | 4557440 yogibear
yogibear's picture

The Federal Reserve and  IMF is pulling out all stops to ensure we go green on the indexes no matter what.

A controlled an manipulated market. You just have to play it for what it is.

Mon, 03/17/2014 - 01:19 | 4557450 Atomizer
Atomizer's picture

Surpressing inflation by means of central banking carry trades. Rich approach. How much longer can this go on? Methinks the gig is up on the international community scale.

Mon, 03/17/2014 - 02:36 | 4557515 Ham-bone
Ham-bone's picture

5yrs since what remained of the "free market" died...43yrs since the dollar was free of any gold backed constraint...2000yrs since Jesus chased the money changers from the temple...some things never end but simply are reconstituted...good and evil never end...they just continue their perpetual tragicomedy.

Mon, 03/17/2014 - 03:34 | 4557550 elwind45
elwind45's picture

Doesn't something bad have to happen or back to trend?

Mon, 03/17/2014 - 06:06 | 4557659 nathan1234
nathan1234's picture

And while on the topic of Stock Prices :

It appears to be highly dangerous to fly Boeings or own Boeing stock

Boeing Going Gone

http://21stcenturywire.com/2014/03/16/the-case-of-malaysias-missing-airliner-mh370-part-two/

Extract

Perhaps the most unsettling information in regards to the missing Boeing 777 comes from retired 35 year Delta pilot, Field McConnell, who states that since 1995, Boeing Uninterruptible Auto Pilots have been equipped in Boeing planes. This information was apparently not released until March of 2007, following a subsequent lawsuit by McConnell. The modification was reported to the FAA, NTSB and ALPA ( airline pilots association). According to McConnell’s documents, Boeing is said to have stated that by end of 2009 all Boeing planes would be fitted with the BUAP - making them impossible to manually hijack within the plane but susceptible to remote control by the military, according the flight veteran.

Mon, 03/17/2014 - 06:29 | 4557673 Baby Eating Dingo22
Baby Eating Dingo22's picture

Nothing short of a direct hit with a nuke-filled Trident will kill this thing. And there's talk of moving it to Colorado bunker just in case those Russkies get any ideas.

A matter of national security.

 


Charging Bull

Charging Bull, which is sometimes referred to as the Wall Street Bull or the Bowling Green Bull, is a 3,200-kilogram (7,100 lb) bronze sculpture by Arturo Di Modica that stands in Bowling Green Park near Wall Street in Manhattan, New York City. Standing 11 feet (3.4 m) tall[1] and measuring 16 feet (4.9 m) long,[2] the oversize sculpture depicts a bull, the symbol of aggressive financial optimism and prosperity, leaning back on its haunches and with its head lowered as if ready to charge. The sculpture is both a popular tourist destination which draws thousands of people a day, as well as "one of the most iconic images of New York"[3] and a "Wall Street icon"[4] symbolizing "Wall Street" and the Financial District.

In Outdoor Monuments of Manhattan: A Historical Guide, Dianne Durante describes the sculpture:

The Bull's head is lowered, its nostrils flare, and its wickedly long, sharp horns are ready to gore; it's an angry, dangerous beast. The muscular body twists to one side, and the tail is curved like a lash: the Bull is also energetic and in motion.[5]

The bronze color and hard, metallic texture of the sculpture's surface emphasises the brute force of the creature. The work was designed and placed so that viewers could walk around it, which also suggests the creature's own movement is unrestricted — a point reinforced by the twisting posture of the bull's body, according to Durante.

Charging Bull, then, shows an aggressive or even belligerent force on the move, but unpredictably. [...] [I]t's not far-fetched to say the theme is the energy, strength, and unpredictability of the stock market."[5]

"That bull is one of an edition of five", Di Modica told the New York Daily News in 1998. "I'm hoping the other four will be going to cities all over the world, whenever somebody buys them."[6] In 2010, a similar Charging Bull sculpted by Di Modica which looks "younger" and "stronger" was installed in Shanghai, called Bund Bull, and in 2012 one was placed on Het Beursplein in Amsterdam.[7]

Mon, 03/17/2014 - 07:51 | 4557788 adr
adr's picture

Fuckin Minoan money changers. They worshipped the bull and didn't produce anything themselves. But they were strategically placed in the Mediterranean and controlled the waters and therefore the trade. If you wanted to trade you had to pay them their fee. They got rich off others work.

Then a massive disaster destroyed thier civilisation, and the remnants were scattered, mostly to Egypt. Maybe the Egyptians were pissed from the many years of forced payment to the Minoans and made them slaves. A few hundred years later perhaps they left Egypt searching for thier lost brethren. Never forgetting that is is always best to take from others rather than work yourself, and never forgetting to worship the bull.

Mon, 03/17/2014 - 07:53 | 4557796 basho
basho's picture

Barroso and Van Rompuy were all-guns-blazing.

LOL Hardy and Laurel.

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