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Stocks Soar On Crimean Referendum, Russian Sanctions

Tyler Durden's picture




 

The Dow has retraced half of last week's losses as exactly what everyone expected (a "yes" vote followed by US/EU sanctions and no actions yet by Putin) occurred.  The S&P was ramped thanks to the always-happy-to-help EURJPY back into the green for 2014. The big ramp occurred heading into the US open to spark momentum and save the day but weakness into the close suggests that the early short squeeze ran out of ammo relatively quickly. Volume overall was extremely weak - lowest non-holiday volume in 5 months. VIX's notable divergence from Friday likely provided some of the ammo for the early ramp. Gold and Treasuries were relatively unimpressed by equity exuberance until Europe closed and then were sold quite notably (TSYs +3-4bps, Gold/Silver -1.4%) Late-day weakness pushed Nasdaq back to unchanged post-Putin's conference call.

 

Today was a very low volume day in stocks...

 

The Dow has recovered half of its losses..

 

But EURJPY was in charge...

 

But it seemed the action hotted up outside of stocks as Europe closed...

 

We suspect the hedging efforts into the close on Friday provided some notable ammo for the early squeeze..

 

And the early squeeze gave planty back into the close...

 

Copper and Oil rallied post-European-close as Gold and Silver sold off tick for tick...

 

Charts: Bloomberg

Bonus Chart: Russians are loving the sanctions...

 

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Mon, 03/17/2014 - 16:05 | 4560305 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Groundhog market.

Mon, 03/17/2014 - 16:10 | 4560323 Grande Tetons
Grande Tetons's picture

Too early for flapjacks? 

http://www.youtube.com/watch?v=DhEwkNIcHUg

Mon, 03/17/2014 - 16:13 | 4560341 HedgeAccordingly
HedgeAccordingly's picture

 Dimon, Tepper, Cohn, Einhorn, Lasry final four picks | $JPM | http://hedge.ly/NoyJ7J

Mon, 03/17/2014 - 16:09 | 4560322 NOTaREALmerican
NOTaREALmerican's picture

The market goes up until somebody big doesn't get paid.   

Mon, 03/17/2014 - 16:09 | 4560325 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

BTFD for the peasant investors

Mon, 03/17/2014 - 16:13 | 4560338 NoDebt
NoDebt's picture

Zzzzzzzzzzzzz.

Mon, 03/17/2014 - 16:16 | 4560346 Duc888
Duc888's picture

 

 

Awesome, should be bangin' on 20K soon.

 

MOAR STAWKS!

 

LOL.

Mon, 03/17/2014 - 16:18 | 4560351 SheepDog-One
SheepDog-One's picture

I guess as long as Tha West can figure out how to get its ass handed to them daily, then all is well!

Mon, 03/17/2014 - 16:18 | 4560353 LawsofPhysics
LawsofPhysics's picture

And what does credit "say"?  It's still a debt is money system after all...

Mon, 03/17/2014 - 16:21 | 4560366 Make_Mine_A_Double
Make_Mine_A_Double's picture

This is getting absurd. 

 

Mon, 03/17/2014 - 16:24 | 4560388 SheepDog-One
SheepDog-One's picture

The only thing I've found to help cope with this absurd world today is my new drink recipe, 1 part bourbon, pour into glass with ice. Fuck it.

Mon, 03/17/2014 - 16:27 | 4560408 chunga
chunga's picture

One of the few nice things about working weekends is...

You get to go down the drunk-hole on Monday!

Mon, 03/17/2014 - 17:05 | 4560566 CrashisOptimistic
CrashisOptimistic's picture

There's a better way.

STOP TRADING.  Look for farmland.

Do you really think there is any way you would regret that 15 years from now, assuming you aren't killed by then.

Mon, 03/17/2014 - 16:21 | 4560369 SheepDog-One
SheepDog-One's picture

Gubment Motors is bankrupt, so I guess we can expect new highs in that stawk as well...drink time!

Mon, 03/17/2014 - 16:23 | 4560379 Clowns on Acid
Clowns on Acid's picture

The US equity market cannot go down or the Int'l banks go bankrupt. So..... unless there is really a war between powers and energy prices go up 20%, the Fed can keep stawks afloat.

The Fed's QE policies were immoral and evil. If the Fed tapers (who knows if they are tapering or not) continually, the market will collapse, therefore one has to jsut asume that they will not tell market of any anti tapering measures.

Evil lives a lot longer than it should sometimes. During ther Dark Ages it lived on for centuries, but they finally put those responsible to death.

Mon, 03/17/2014 - 16:29 | 4560420 SheepDog-One
SheepDog-One's picture

The ass hats responsible for this are just trying to get thru 24 hour time periods....free money into the hands of the billionaires to placate them, until that no longer works.

Mon, 03/17/2014 - 16:25 | 4560395 chunga
chunga's picture

Ammo?

http://www.sgammo.com/catalog/rifle-ammunition/762x39

Golden Tiger (the good stuff) is all gone!

Attention SGAmmo Customers: Expect a 2 to 4 business day delay in shipping orders due to high demand and order volume

Mon, 03/17/2014 - 16:27 | 4560406 dcohen
dcohen's picture

Always do the opposite of rationality, common sense and logic. Since I've been trading the Constanza way, I have been winning 70-80 % of the time. Works like a charm. Think like a retard, trade like a retard.

Mon, 03/17/2014 - 16:32 | 4560430 JustObserving
JustObserving's picture

Look at the propaganda on the Huffington Post - it shows Putin grimacing horribly with the title, "WINS CRIMEA, LOSES WORLD

If it weren't for propaganda, the Huffington Post would have nothing to say. Apparently, the world resides in the mind of the Nobel Prize winner.

Mon, 03/17/2014 - 16:42 | 4560477 NOTaREALmerican
NOTaREALmerican's picture

Re:  If it weren't for propaganda, the Huffington Post would have nothing to say

If it weren't for propaganda the smart-n-savvy people wouldn't be able to manipulate the dumbasses.

government + bullshit = politics
morals + bullshit = religion
craft + bullshit = splatter-art
sex + bullshit = romance

Bullshit,  ask for it by name!

Mon, 03/17/2014 - 16:34 | 4560435 SheepDog-One
SheepDog-One's picture

Awesome how CNBC just declared 'Market fears off the table'....all gone, no worries at all, just pile all yer money's into STAWKS!

Mon, 03/17/2014 - 16:43 | 4560479 Soul Glow
Soul Glow's picture

They also say stocks are a leading indicator.

Mon, 03/17/2014 - 16:35 | 4560440 mrblah
mrblah's picture

Tempted to open a short on Exxon and BP.

Mon, 03/17/2014 - 16:40 | 4560469 Soul Glow
Soul Glow's picture

Stocks soar but the dollar, the euro, and the yen remain unchanged.  Maybe currencies are being dropped evenly by the East in favor of other assets, and the first move was out of fiat and into some stocks.  Next, and a larger move, will be to cash fiat into gold.

Mon, 03/17/2014 - 16:43 | 4560473 agstacks
agstacks's picture

If Putin backs off and there appears to be a peaceful solution here, I'm going to short the f*&^ out of this market. 

 

Mon, 03/17/2014 - 16:49 | 4560493 Soul Glow
Soul Glow's picture

What did you think would happen?  The day Obama steely imposes economic sanctions on Russia, stocks would fall?  No, the Fed is using the last of its firepire to make the economy look stable.  The US can not and will not be seen as weak.

Mon, 03/17/2014 - 17:07 | 4560573 CrashisOptimistic
CrashisOptimistic's picture

Don't do it.

Don't trade at all.  If you short and the world collapses, you won't get paid anyway.

Buy farmland.

Mon, 03/17/2014 - 16:55 | 4560521 Emergency Ward
Emergency Ward's picture

"Speaking from the Andrews AFB golf links, War Chief Obama threatens Putin with Nuclear-Winter WW3.  Defense stocks rise on panic buying."

Mon, 03/17/2014 - 19:35 | 4561122 disabledvet
disabledvet's picture

There's a public course in SE Washington DC i played on once. It was pretty flat but couldn't beat the location...right at the confluence of the Potomac...and I think Annocostia...Rivers.

Hit one of the best 80 yard 7 irons ever...had to get under weeping willow, but also "stop it on the green" just so. The rest of foursome...none of who i knew...all went "WOW"...and I pretended like I really was that good.

Don't recall sinking the putt for birdie.

I'm sorry...what were we talking about again? Oh, yeah..."stocks soar on news of War with Russia!"
Next up...calling in the Air Strikes from the RTJ Trail! http://www.rtjgolf.com/

http://www.macdillfss.com/mainmenu-dl.aspx?SectionID=200

Mon, 03/17/2014 - 17:26 | 4560653 highwaytoserfdom
highwaytoserfdom's picture

Obozo China makes the bullets, launches the satellites and  has  anti satellite weapons, Pulse electronic weapons.  Took Russia about 2 seconds to kill drone.   McBrain dead like his Dad  thinks they can Gulf of Tolkin the world for $$$....     Do you remember who and why the Japan bombs?   The world knows ABb and Rumsfield sold nukes N korea when on board ABB.....  What you thinking bub?     SANCTIONS WTF?   Kerry at  APAIC??       SANCTIONS WTF? SANCTIONS WTF? SANCTIONS WTF?

Mon, 03/17/2014 - 18:57 | 4560982 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

The market at first reacted "rationally" to the crisis, shortly after the Sunday 6pm futures open...with gold spiking to 1392 and the market futures well down. Once that seemingly sane reaction took place, the rest has been blatant manipulation. 

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