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Nasdead Cat Bounce
While the Nasdaq was unable to get back above its crucial 100DMA, it outperformed today (Biotechs went nowhere) as the S&P 500 dipped-and-ripped off its 50DMA (and the crucial 1840 level for bulls). The problem with all this "the correction is over" chatter... nothing else is buying it... Treasury bond yields slumped lower (7Y -15 bps from Friday highs and back to FOMC levels) with 10Y < 2.70% again. Credit spreads on high-yield debt made new swing cycle wides (did not hold teh dead cat bounce gains). Gold jumped back above $1310 (and on a separate note oil prices surged as "tanks" hit the headlines once again in Ukraine). But perhaps the most notable 'negative' for this being anything but a dead-cat-bounce was the collapse in JPY carry - USDJPY's biggest drop in 8 months. VIX was pegged to the S&P 500 all day - but even there we saw notable steepening (as hedgers termed out protection). S&P 500 futures close perfectly at yesterday's closing VWAP.
Since the FOMC, growthy small caps and tech have been pummeled
but today's bounce was the best performance on the day
Which left the S&P clinging to green year-to-date...
VIX clung to stocks all day long...
As the S&P bounced perfectly off its 50DMA...
Evident in the intraday chart...
But bonds didn't...
As 10Y yield retraced thepost-FOMC move and 30Y remains notably lower...
And credit was not buying it at all..
And neither did JPY carry...
Which is collapsing under the failed hope of additional easing...
The USD slipped lower as JPY strength sucked money away from all the majors...
Commodities gained on the day with oil the big winner on eastern European tensions. Gold and silver slipped lower into the close...
Charts: Bloomberg
Bonus Chart: US Financial stocks have dumped all the way back to credit's less exuberant pre-CCAR self...
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The trick is to back out of the door quietly...so as no one notices your exit. The first rule is to try and avoid a stampede because you are doomed to get trampled.
damn Nasdaq don't get no rspct
Nasdead LOL
same old
Just wait until everyone suddenly realizes the $30 Trillion or so which has pumped up all these indexes and bonds is actually completely worthless....see you back at 666 overnite!
What is it about these fucking cabalistic numbers?
666 (S&P)
1332 = 2 x 666 (Gold)
Sometimes seems they are set in stone...
Did someone say cats!!???? I love cats!
http://www.liveleak.com/view?i=6b4_1311101116
Man, I feel sorry for any dude that dated that girl.
Everyone sold gold for tomorrow's smackdown. How dare gold indicate the economy is in shambles
Better BTFD first thing tomorrow. Today NASDAQ was up 30; surprised it wasn't up 100. Still oversold, still money on the sidelines waiting to come in, still more stimulus expected out of Europe and China soon. Don't be a bear and hold a blowtorch up in your own face...BTFD.
"money on the sidelines"
Are you sure you belong here?
Speaking of belonging here...I'm glad to see the curvy girls in the snorgtees getting space on the hedge again. Particularly the batman shirt girl.
Back to my scotch...
"money on the sidelines"
"sunny on the mind-lies"
The only money I have been seeing on the "sidelines" was in the line at the gun show.
Is that you, MDB?
no its MDB scat droppings
Obviously the butt-buddy of ThisRideNeverEnds. Grow up fool
that is not to mention all the green chutes and the fact we have reached a new paradigm, a permanent high plateau; this time is different.
" Greece has turned the corner " .... back to selling bonds again tomorrow ..... a sure sign the top is in. Sweet Jeezus !
http://www.bloomberg.com/news/2014-04-08/greece-said-to-plan-sale-of-five-year-notes-via-banks-tomorrow.html
AMZN P/E back up to 554.
There's a sucker born every second.
Ok, ok, even MORE charts.
This is getting bad, REAL bad.
Anybody know what the Chart Trendline is doing?
I'm really starting to get nervous now.
Can you read charts?
We are barely down 3%. That's a paper cut. Wake me up when we are down 10% YTD and dip below the 200 day and the VIX goes above 25. If not, assume the "boyz" are fucking with you. They want you suckered in. Don't play, stay in cash.
Agreed - we are hardly in a "correction" at all. In fact not even close. Some stocks have seen "bear market territory" and are "correcting" (AMZN, NFLX, YELP, P). But in reality they could drop another 50% before truly "correcting".
They will...
Watch out a dead Nascat ahead!
http://fc06.deviantart.net/fs70/i/2013/110/8/3/hang_in_there_baby____kodiak_bear_by_tsalagimahariel-d62bw8z.jpg
"Hang in there baby!"
So what your saying is... wait..what are you saying exactly? ..
The systems a fake anyway...so are these charts really actually representing anything at all?
Afaik..theres a guy just drawing lines on a chart.. heck thats what we used to do when the bond tensile strenght wasnt quite what it should be..if the chart didnt show the right pull strength..just take a pencil..and with a very steady hand..draw the line in the right place to make it "acceptable". ;)
Like a guy told me when I was 1st gettin into the aircraft biz..... (as he tossed the unacceptable thickness coupon into the water wash) he said "ya know what ya do when ya get a bad one?...just don't fuckin fly..that's my policy. "
That was my 2nd day in the aircraft engine biz. Ive seen lots of..interesting stuff over the years..and I still fly. Heck. .that's what they make tolerances for.. they give you only so much..but they know you may take a little more.
;)
What were we talkin bout again? ?..
Its all fake. The thing to worry about is all the people who take it seriously.
You'll see a little more IRA stuffing until the 15th. Then let's see what happens from there.
Cats aren't the only thing falling from high places these days.
Those moving averages don't mean dick.