POMO Pump-And-Dump Leaves Stocks In The Red

Tyler Durden's picture

Volume is light, as Europe remains on Easter holiday, but the volatility is back. Biotechs opened notably higher, dumped to unch, ripped to new highs, then dumped again... The S&P 500 managed to regain all last week's dump losses - but stalled then as POMO struck (the biggest in April) and AUDJPY took off in its front-running way but left stocks behind. Of course, there's no need to worry though - tomorrow is Tueaday after all.

 

Biotechs couldn't hold gains...

 

As AUDJPY decoupled on POMO and S&P revrted to USDJPY weakness...

 

which sent stocks to last week's highs...

 

before they started to dump...

 

Charts: Bloomberg