This page has been archived and commenting is disabled.
Market In Shock By Yellen's First FOMC Appearance
Concerns about Fed "over-optimism" admissions and shortening the time from taper to rate-hike sparked a major algo-surging risk-off dump in US equities... but that 1% dip was bought with hands and feet as reassuring figures emerged on screens to pat traders heads gently. Stocks bounced but then faded into the close as Yellen's first press conference saw the worst market performance since Bernanke's May Taper hint. Bonds had a bad day... massive bear-flattening occurred on the release with 5s30s -12bps (5Y +16.5bps, 30Y +4.5bps) to 19-month lows. The USD was smashed 0.75% higher - its biggest gain in 7-months. Gold (and silver) dropped (down 4% on the week) as copper short-squeezed up to key resistance after early significant weakness.
The S&P 500 tracked AUDJPY through all the excitement...
The reaction in stocks is full of confusion - initial weakness which recovered quickly, then a plunge on over-confidence and rat-hike-period comments... which were then bid...
With financials outperforming in the sell-off (but yield curves flattened dramatically!!?)
Treasury yields soared (led by the short-end)
As the Treasury curve flattened dramatically... the biggest single-day flattening since Sept 2011
.
USD Index screamed 0.75% higher...
Gold and silver slipped as copper ripped
In summary - Bonds Dumped And Dollar Pumped As Stocks Stumble On Yellen Mumble
Charts: Bloomberg
Bonus Chart: Copper WTF Chart of the day...
»
- 15374 reads
- Printer-friendly version
- Send to friend
- advertisements -
A major wobble in the house of cards??
What a kurva she is.
All you banksters out there reading this better head over to dudeiwantthat and get your best bankster friends one of these handy devices.
http://www.dudeiwantthat.com/outdoors/tools/sos-parachute-high-rise-buil...
Don't Fear The Taper
By: The Fractional Reserve Cult
QEs times have come
Here, but now they're gone
Equities don't fear the taper
Nor do bonds, credit or REITs
(We can be like they are)
Come on baby
(Don't fear the taper)
Baby take my hand
(Don't fear the taper)
We'll be able to fly
(Don't fear the taper)
Baby I'm your Chairwoman
La, la la, la la
La, la la, la la
Bernank's reflationary "markets" are done
Here but now they're gone
Romeo and Juliet
Are together in eternity
(Romeo and Juliet)
91,000,000 men and women every day
(Like unemployed Romeo and Juliet)
91,000,000 men and women every day
(Redefine happiness through hedonic adjustment)
Another 10,000 coming every day
(We can be like they are)
Come on baby
(Don't fear the taper)
Baby take my hand
(Don't fear the taper)
We'll be able to fly
(Don't fear the taper)
Baby I'm your Chairwoman
La, la la, la la
La, la la, la la
Love of rehypothecated debt is done
Here but now it's gone
Came the last night of Fed balance sheet expansion
And it was clear it couldn't go on
Then the door blew open and Mr. Margin appeared
Shadow debt burned & liquidity seared
The curtains flew open & Mrs. Debtfire appeared
(Saying, "Don't be afraid")
Come on baby
(And "markets" had no fear)
And then VIX ran to her
(Then it started to fly)
It looked backward and said goodbye
(It had become like they are)
It had taken her hand
(We had become like Japan)
Come on baby
(Don't fear the taper)
I gotta have more cowbell!
BTFD! BTFD!! BTFD!! !BTFD!!!! BTFD! BTFD!! BTFD!! !BTFD!!!! BTFD! BTFD!! BTFD!! !BTFD!!!! BTFD! BTFD!! BTFD!! !BTFD!!!! BTFD! BTFD!! BTFD!! !BTFD!!!! BTFD! BTFD!! BTFD!! !BTFD!!!!
It's a shame I have but one up arrow to give.
Is a youtube rendition forthcoming?
I'll have whatever you're drinking...
Perhaps you, a karaoke machine and a good camera (or camera-toting wingman) should descend on Jackson Hole in late August for some truly unforgettable moments.
Major layer of pollen on the house of cards.
well the gold/silver drop was intentionally engineered to "show confidence" in Janet. They may try another nuke tonight in the global market.....
but, yellen was pretty bad. Fear may win out as even the bankers realize that the game is just about over. Yellen isn't going to be able to handle what's gonna happen.
You only have to write this ONCE fat finger.
well the gold/silver drop was intentionally engineered to "show confidence" in Janet. They may try another nuke tonight in the global market.....
but, yellen was pretty bad. Fear may win out as even the bankers realize that the game is just about over. Yellen isn't going to be able to handle what's gonna happen.
well the gold/silver drop was intentionally engineered to "show confidence" in Janet. They may try another nuke tonight in the global market.....
but, yellen was pretty bad. Fear may win out as even the bankers realize that the game is just about over. Yellen isn't going to be able to handle what's gonna happen.
well the gold/silver drop was intentionally engineered to "show confidence" in Janet. They may try another nuke tonight in the global market.....
but, yellen was pretty bad. Fear may win out as even the bankers realize that the game is just about over. Yellen isn't going to be able to handle what's gonna happen.
well the gold/silver drop was intentionally engineered to "show confidence" in Janet. They may try another nuke tonight in the global market.....
but, yellen was pretty bad. Fear may win out as even the bankers realize that the game is just about over. Yellen isn't going to be able to handle what's gonna happen.
well the gold/silver drop was intentionally engineered to "show confidence" in Janet. They may try another nuke tonight in the global market.....
but, yellen was pretty bad. Fear may win out as even the bankers realize that the game is just about over. Yellen isn't going to be able to handle what's gonna happen.
well the gold/silver drop was intentionally engineered to "show confidence" in Janet. They may try another nuke tonight in the global market.....
but, yellen was pretty bad. Fear may win out as even the bankers realize that the game is just about over. Yellen isn't going to be able to handle what's gonna happen.
well the gold/silver drop was intentionally engineered to "show confidence" in Janet. They may try another nuke tonight in the global market.....
but, yellen was pretty bad. Fear may win out as even the bankers realize that the game is just about over. Yellen isn't going to be able to handle what's gonna happen.
Tourette's syndrome |to?o?rets|nounMedicinea neurological disorder characterized by involuntary tics and vocalizations and often the compulsive utterance of obscenities.ORIGIN late 19th cent.: named after Gilles de la Tourette (1857–1904), French neurologist.
Confusion reigns...
Dire Straits Land of Confusion
http://youtu.be/1pkVLqSaahk
Confusion, indeed!
(that's Genesis)
Joe Walsh speaks for many of us -
http://www.youtube.com/watch?v=_tiOMu_Bf8Q
a lot of balls in the air here..
Chinese Confuciun...between Machiavelli (always at work in the background), Putin, Yellen, and China...there are plenty of ways to drop.
A long overnight ramp back to green by tomorrows opening I guess, FRBNY nightshift on full staffing
-0,46% down is a shock? tomorrow it will BTFATH.
We still have 55 BILLION a month. This shit will only go down when we go to ZERO cents a month from the FED.
Gold and silver go down when QE is in full swing AND when tapering is threatened. Got it.
all one big fucking joke...
im on my way to my dealers shop to pick up some mo Silver...
these mother fuckers may be fooling the masses but not me....
good luck with those CD's, Money Market Accts, and non=Savings accts...
DEATH TO THE MONEYCHANGERS....
True silver bugs have been put to the test.
oh please, got some kokoburras today. tomorrow or tonight during the post yellen nuking (to show confidence) libertads
See, this is the key difference between gold/silver and oil.
If you don't own gold or silver and it goes up, or down, you don't care.
she flubbed that 6 month answer on purpose. most scripted flub i ever saw.
It's going to be a bumpy ride down as China sells their US paper.
Bingo. Notice the FedRes can only levitate stawks or FX ?
Not both.
Wish I coulda seen that bonus chart a day early
The sensationalism on this site is at all-time highs. "Market In Shock By Yellen's First FOMC Appearance"
Seriously? A -0.6% decline in the S&P means the market is in "shock." Is ZH now part of the mainstream media? Unreal.
Re: Is ZH now part of the mainstream media?
Well, it's the alternate doomer universe, so it's anti-hopium.
Re Unreal.
That would be anti-real.
Well, the TBTF banks and whale scheisters cleaned up when the last bubble popped and the FED/.gov debt fueled reflation of our current bubble so they aren't shocked.
The desk jockey individual investors and small gambling (er...investing) houses were shocked at the talk of continued tapering and... *gasp*!...raising rates.
For the big vultures on Wall Street the bubble will have to be popped to clean the 401K/IRA/Pension fund chips off the table and get more government gravy just like 2008.
"No one saw this coming" will be operative again, along with "tanks in the streets" and "something must be done".
Lather, rinse, repeat; you sell more shampoo that way.
dupe
Jenga.
Most of the country is still in a deep recession with pockets of prosperity here and there [like student loans, car loans, etc]. if Yellen doesn't act we'll simply sink deeper.
Oh well. At least they're coming out with a new episode of Duck Dynasty and Jason Beeper has a new song hitting the charts.
Impotent things are impotent!
they'll crash the market by 200 points, yields on the 10 year will drop back to 2.5/2.6 and then the market will rise back to current levels until interest rates force them to drop the market again.
its all nothing till the 10,000 point crash, then i will feel better
Just another day at the Pig Circus.
Got a multi-millionaire buddy that had been bullish as shit but he is down this year as he has been whipsawed everytime he goes long this digshit. Bullish as hell last year..Right call but was down for the year. I made more making just a couple of bearish short term bets.
Anybody else think she seemed kind of bossy?
I think the offical word is "bitch". All powerful/confident females are "bitches".
Cunt is more realistic.
I prefer butch ground hogs; bitches is too nice because they at least care for their offspring.
That's probably because she's the boss. Whether we like it or not (and I know nobody here likes it, but I have to say it anyway) the Fed is the only thing holding this country up. That's because the Congress and the White House refuse to make the tough political decisions necessary to address the structural defects in the economy. The Fed is carrying the bag for a political process that has totally stalled. That makes Yellen perhaps the most powerful person in the country.
I think she did a fairly good job today. She TAPERED, for crying out loud. She signaled that the easy money will end someday. She is not making it easy on the politicians. We didn't expected everything to change overnight, did we? Isn't this a step in the right direction?
she is really just an old mannequin with lips that move on bernake's command
Each Fed head gets shorter.
http://knowmore.washingtonpost.com/2013/10/11/fed-chairs-height-is-reach...
Next Fed head will be a midget.
Physically or mentally?
I just saw the link. That first chap was really tall, about 2 meters! And Yellen is about 1.6m.
In a few short decades there will be nothing left, if that continues.
And you rightwinger say evolution is a hoax.
I say: works every time!
They will have to be midget limbo dancers with the bar getting much lower.
I had a delicious nap and slept through the whole thing.
Woke up to Rick Santelli and Guy Adami basically calling her a clueless academic wonk who had no idea what she was doing.
Stephanie Link of course doing her best Cramer cheer to buy dividend paying stocks in different sectors; I swear that Woman believes it's 1983 all over again.
I should have sold my miners on Friday afternoon. I was still feeling pretty fucking smart pre-market on Monday, when gold hit 1392. Made some coffee and then the shit hit the proverbial fan. The hammer has not relented.
Just starting too, I think - they painted that fake breakout and suckered almost EVERYBODY who follows the sector into thinking 'this time its different'. I'm long some junior miners that I expect will get fucking KILLED but I'll probably fully offset it with my tiny out-of-the-money GDX put position when that sack of shit hits $5 over the next couple weeks.
This time is 'different' in the way 2008-2011 was different.
It's just something you can't see on a chart unless you zoom out to 10 years.
Just look at GDXJ and look at USLV.
http://scharts.co/PR32Gu GDXJ price on the left, USLV price on the right. They move together so the one with the smaller price range is generally not helpful.
Miners are a multi-year play with very little chances because several can and will go bankrupt or otherwise have serious problems.
I'm going with USLV. Not a big play for my cash in but a big play for its projected performance. It's not a miner so it's the metal, not management of those miners, that will drive the price.
flic.kr/p/kpoT2k slide 1 : regression (power) trend R2 = 0.98 USLV = silver3.92 / 2364.56
flic.kr/p/kppK2Z slide 2 : projections with & without ETF decay
flic.kr/p/kprn3f slide 3 : ETF decay on factor vs date
Talking Heads
Girlfriend is better
i . . . who took the money?
who took the money away?
i . . . it’s always showtime
here at the edge of the stage
i, i, i, wake up and wonder
what was the place, what was the name?
we wanna wait, but here we go again...
i . . . takes over slowly
but doesn’t last very long
i . . . no need to worry
everything’s under control
o - u - t but no hard feelings
what do you know? take you away
we’re being taken for a ride again
i got a girlfriend that’s better than that
she has the smoke in her eyes
she’s moving up, going right through my heart
she’s gonna give me surprise
better than this, know that it’s right
i think you can if you like
i got a girlfriend with bows in her hair
and nothing is better than that
down, down in the basement
we hear the sound of machines
i, i, i’m driving in circles
come to my senses sometimes
why, why, why, why start it over?
nothing was lost, everthing’s free
i don’t care how impossible it seems
somebody calls you but you cannot hear
get closer to be far away
only one look and that’s all that it takes maybe that’s all that we need
all that it takes, all that it takes
all that it takes, all that it takes
i got a girlfriend that’s betther than that
and she goes wherever she likes. (there she goes...)
i got a girlfriend that’s better than that
now everyone’s getting involved
she’s moving up going right through my heart
we might not ever get caught
going right through (try to stay cool) going through, staying cool
i got a girlfriend that’s better than that
and nothing is better than you
i got a girlfriend thats better that this
and you don’t remember at all
as we get older and stop making sense
you won’t find her waiting long
stop making sense, stop making sense...stop making sense, making sense
i got a girlfriend that’s better than that
and nothing is better that this
( is it? )
http://youtu.be/9r7X3f2gFz4?t=10s
I wonder what the 10-yr bond yield would rise to if the Fed backed off the QE tomorrow? Any thoughts?
Will Ol'Yellen be establishing a FED Weather Chairman, in light of the sudden major importance of the weather on the health of the economy?
This is the real reality,,,
http://www.youtube.com/watch?v=clnozSXyF4k
Do any of you clowns actually make any money or do you just sit here posting the same pointless crap every single day while pretending to be smarter than the entire world by buying silver? LOL
HVU, UVXY, both go up 11x vs the drop in DIA,SPY which are Dow & S&P500 ETF's.
trend curve http://flic.kr/p/ikyjpz 219 = HVU 1/11 x SPY ; currently 223.5 and was 224 for the last week, which is a giant % gain in HVU vs where it could be, about 27% to 32% higher than the 219 constant puts the price. This means the options are showing giant downside pressure for S&P500.
Economic morality OCD is the road to poverty.
If you define somehow "make money" maybe someone of these clowns, including my self, may be able to answer your pointless question. I am sure though, that "make money" will be somehow quite surprising to define in a very rigorous terms, and ones you start with that, you can see, why there are so many useful ( and, lately, some quite useless, I agree ) comments on this site.
SPY close at 186.66 - nothing to see here folks, move along, move along