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BTFDe-Escalation

Tyler Durden's picture




 

VIX-slamming, USDJPY-ramping, BTFDe-escalating muppetry and we end the week near the highs with the S&P and Trannies comfortably green YTD (though notably underperforming gold still). Treasuries were sold hard today (7Y +10bps) as the D word was bandied about by the politicians (while in reality de-escalation was anything but what was happening), but the 5s30s still flattened modestly further. 10Y saw one of its worst days of the year and yields pressed up to their 200DMA. Gold and silver were flat to modestly lower as copper and oil limped higher. FX markets were relatively calm as the USD pushed higher on the week (+0.5%). Stocks closed weak into the close but after 3 days of ramp, it's hardly surprising.

 

It seems the President's less exuberant belief in the De-Escalation was not liked by the market...

 

Another day another ramp job but a weaker close...

 

But from the US Open today things are not quite as exuberant...

 

As we close this shortened week, YTD stocks remain laggards of bonds and gold...

 

Year to date, the S&P and Trannies are green but Nasdaq and Russell and Dow notably red still...

 

USDJPY led stocks...but stocks close ugly...

 

VIX was slammed...

 

Treasuries were monkey-hammered today...across the curve

 

As a flattening yield curve is now the excuse to BTFD...

 

and 10Y yields jammed higher to the 200DMA...

 

Credit does not seem as excited either about the "d" word...

 

In commodity land, safe haven PMs were sold and growthy excitment was bid...

 

Charts: Bloomberg

Bonus Chart: Weibo stick-saved or the entire Alibaba derivative trade is fucked...

 

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Thu, 04/17/2014 - 16:13 | 4670729 Cattender
Cattender's picture

the stock market is just like Gold back in 2011 it will NEVER GO DOWN.. (until it does)

Thu, 04/17/2014 - 16:17 | 4670747 DoChenRollingBearing
DoChenRollingBearing's picture

Gold went down too.  But, production in Peru has not.

Warning: gold porn

"Gold News and Pictures from Peru"

http://tinyurl.com/nndg7dt

Thu, 04/17/2014 - 16:15 | 4670738 Xibalba
Xibalba's picture

they fuckin cleaned me out this week.  

Thu, 04/17/2014 - 16:23 | 4670763 TheRideNeverEnds
TheRideNeverEnds's picture

Should have bought the dip...  I called the bottom on monday.  You should subscribe to my newsletter, it describe why we will keep going higher and how buying the dip is free money with zero risk. 

 

here is the link - http://www.newyorkfed.org/markets/pomo/display/index.cfm?showmore=1

Thu, 04/17/2014 - 19:48 | 4671385 EggSlayer
EggSlayer's picture

who do they even buy all that from?

Thu, 04/17/2014 - 16:16 | 4670741 Kaiser Sousa
Kaiser Sousa's picture

one word until it ends....

RIGGED...

still stackin....

Thu, 04/17/2014 - 19:48 | 4671386 EggSlayer
EggSlayer's picture

because you fail to try to understand it...

Thu, 04/17/2014 - 16:17 | 4670748 Fuh Querada
Fuh Querada's picture

as long as the biotechs didn't get buggered again......

Thu, 04/17/2014 - 16:18 | 4670750 Max Damage
Max Damage's picture

Thw WTF story on Jap bonds tells us everything about this rigged mess. CB's are trying to stop total collapse, but all they are doing is making the collapse bigger, and bigger with every single $ of toilet papaer they print

Thu, 04/17/2014 - 16:19 | 4670755 Flux
Flux's picture

Another good day in the market for me.

I'm using a simple passive portfolio (stocks, bonds, gold, REITS) based on 1 year momentum.  Currently invested in stocks, bonds and REITs. Gold looks to have passed the threshold, and I'll invest by month's end if its still strong.

Any and all thoughts and suggestions welcome by the ZH gang.

 

 

Thu, 04/17/2014 - 16:21 | 4670760 dvsteenk
dvsteenk's picture

rigged it is, but the question is how they do it, because I don't believe this is all done by shorts being squeezed time and again

how much money is put at work to achieve these never-ending linear ramps, who has that firepower and why can they can pull this off repeatedly without apparently incurring ever any loss?

 

Thu, 04/17/2014 - 16:24 | 4670772 Cattender
Cattender's picture

how do they do it? THE FUCKING FED.

Thu, 04/17/2014 - 18:34 | 4671120 LooseLee
LooseLee's picture

I suspect they are buying 'phantom' shares---naked buying...No actual shares are bought. Naturally, they should be publicly executed for this---and they will be, eventually..

Thu, 04/17/2014 - 22:21 | 4671880 1984
1984's picture

That should have 0 effect on prices.  Don't you mean they're buyig with phantom dollars?

Thu, 04/17/2014 - 16:21 | 4670761 Sudden Debt
Sudden Debt's picture

man... I'm invested totally different of what's happening...
long gold and silver... EEEEUUU
SHORT NASDAQ, TESLA, FACEBOOK, AMAZON, NETFLIX... EEEUUU
SHORT VIX... EEEUUUU

pppfffff.... shit... shitshit.... FUCKINGSHITSHITDHTIDLDJFJFJDK!!!!

Thu, 04/17/2014 - 17:18 | 4670910 DoChenRollingBearing
DoChenRollingBearing's picture

^^^---  What he said!

Thu, 04/17/2014 - 17:30 | 4670941 buzzsaw99
buzzsaw99's picture

:points: HA HA! [/Nelson]

Thu, 04/17/2014 - 19:19 | 4671246 Iank35
Iank35's picture

Don't bet on individual games, bet on the profitability of the casino.

Here's the simplest and safest investment anyone can make.

Start out at $50 a day and simply bet the market is gonna go up. Every 6 months double up.

You can download the figures youself to check but on average the Dow is up 14 more days per year than down.

In 2013 it was up 46 (+$2300) more days than down. In 2008 (when markets lost 1/2 their value) it was only down 13 more days than up. 

That was cancelled out in 2009 which had 24 more up days than down. 

Like I said, download and check the figures yourself but if you'd have followed this stratergy since Jan 1st 2000 ($50 a day and doubling up every 6 months) you have been a millionaire by July 11th 2005 and that includes been in the red for most of 2001/2002. 

This is the power of exponentialism :o)

Oh!! and if you'd continued from 2000 to today youd be up $161bln betting $3.7bln a day :o)

Thu, 04/17/2014 - 16:39 | 4670827 elwind45
elwind45's picture

What actually pulled him off the course? A IM from Putin? I guess we be talking will suffice? Buildup phase! Both pretending it would not be in best interest at this time to do anything except flex? And monitor markets for further signs of trouble?

Thu, 04/17/2014 - 16:52 | 4670851 SmilinJoeFizzion
SmilinJoeFizzion's picture

XIV for the last half hour- all day, every day

 

 

Thu, 04/17/2014 - 16:53 | 4670853 CREAM
CREAM's picture

AUDIT THE FED

Thu, 04/17/2014 - 17:04 | 4670873 StupidEarthlings
StupidEarthlings's picture

So..everythings good then is what your sayin?..

Thu, 04/17/2014 - 18:01 | 4671023 soopy
soopy's picture

"but stocks close ugly" Ugly would be triple digits on the Dow, not -16.

Fri, 04/18/2014 - 00:07 | 4672095 Haager
Haager's picture

4 digits would be nice, on the other hand.

Thu, 04/17/2014 - 18:30 | 4671098 Goldilocks
Goldilocks's picture

What I have been afraid to blog about: The ESF and Its History_Part 1
http://www.youtube.com/watch?v=2ssrcD5GdPQ (9:04)

What I have been afraid to blog about: The ESF and Its History_Part 2
http://www.youtube.com/watch?v=ImuVUab6WW0 (8:53)

What I have been afraid to blog about: The ESF and Its History_Part 3
http://www.youtube.com/watch?v=8Qsll_5-FXc (11:20)

What I have been afraid to blog about: The ESF and Its History_Part 4
http://www.youtube.com/watch?v=iK-741ISz94 (18:40)

What I have been afraid to blog about: The ESF and Its History_Part 5
http://www.youtube.com/watch?v=lQf-u2nCVSw (26:25)

Thu, 04/17/2014 - 18:46 | 4671151 Youri Carma
Youri Carma's picture

In perspective the 10 Year Yield at 2.72% now is the beginning of the panic for central bankers. They definitely don't like to see it over 3%, as sign of 'lost control' and I think their ambition is to keep it rather round the low 2.65% level.

January 15, 2014, 10 Year Yield 2.90%
January 22, 2014, 10 Year Yield 2.87%

April 02, 2014, 10 Year Yield 2.80%
April 10, 2014, 10 Year Yield 2.64%

US Generic Govt 10 Year Yield 2.72% Now http://www.bloomberg.com/quote/USGG10YR:IND

Fri, 04/18/2014 - 00:08 | 4672097 Haager
Haager's picture

One more high...

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