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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Its Only Rock N Roll's picture

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


smlbizman's picture

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

Bonapartist's picture

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

The Vineyard's picture

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

whotookmyalias's picture

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

Australian Economist's picture

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

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.

Spitzer's picture

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

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...


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

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.  

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.....


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.

Kaiser Sousa's picture

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

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.

X_mloclaM's picture

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

Seize Mars's picture

because real economic activity is collapsing.

RottenAlpha's picture

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

X_mloclaM's picture

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

DirkDiggler11's picture


ZH is not Craigslist you Reggie Wannabe.

RottenAlpha's picture

Didnt know you owned ZH......

Seize Mars's picture

Pimping a blog just isn't that cool.

RottenAlpha's picture

Thanks, and he's got real solid arguments

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 

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.

playnstocks's picture

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

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.

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.

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.

LetThemEatRand's picture

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

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.

ebworthen's picture


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.

X_mloclaM's picture

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

wtf is that

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.

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!!).      

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.

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. 

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.

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)

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.!!

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.

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.).

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"

ebworthen's picture

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

It will fail; who knows when.

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

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.

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.