Schizophrenic Stocks Close Mixed As 30Y Yield Nears 10-Month Lows

Tyler Durden's picture

Euphoria over Apple channel-stuffing and non-GAAP magic for Facebook quickly turned into the HFT-liqudity-providers nightmare as rumors of an emergency Putin press conference sent USDJPY tumbling lower (and therefore US equities). Once the rumor passed - and despite all the facts on the escalation - stocks bounced (especially Nasdaq) to close mixed. S&P and Dow unchish, Nasdaq +0.5%, Russell -0.5%. VIX was in charge in general once the ramp was under-way but even that went into crazy mode as algos lost the plot. Credit markets are "deniers" of the exuberance as are long-end Treasuries which rallied another 2bps and near 10-month lows. Gold was monkey-0hammered early but rallied on Putin's comments and closed unchanged for the week above $1290. Copper rallied notbaly eback above its 50DMA and Oil limped higher as the USD flatlined.


V-Shaped recovery...


But the recovery was very uneven...


And on the week all the indices are holding green for now...


Momos had quite a day...


Credit vs stocks on the week...


VIX had quite a day also... but note the late day ramp in VIX failed to excite stocks


Treasuries are very mixed on the week as the flattening trend persists...


Gold and silver had their own wild ride...


Copper cracked back above its 50DMA...



Charts: Bloomberg

Bonus Chart: The MSFT "beat" in context...


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ebworthen's picture

Here come the fudged earnings and revenue figures kids!

Soul Glow's picture

Arthur Anderson dressed to the nines punching on a calculator.

TruthInSunshine's picture

This will play out just like 1999 & 2007. It's already begun.

1) Pretty much all stocks moonshot, no matter the economic reality.


2) After years of excess exuberance, more and more divergence is seen between sectors, then stocks.


3) One starts to see many days where indexes are up even as the # of declining stocks outweighs the number of advancing ones.


4) All manner of buybacks, "one time," non-GAAP, and other unicorn gimmicks are used by companies to put lipstick on earnings' reports & otherwise support their valuations.


5) When the importance/significance of the funny money, stock splits, buybacks, dividend hikes, revisions, "one time charges" & accounting gimmicks are finally understood by the majority (after the insiders have bailed), there's a rush, ultimately, by the herd for the exit doors.


Soul Glow's picture

AMZN is priced at $337.  Using standard deviation of the historical mean - P/E of 12 - AMZN would be at $28.  Let the great and final ponzi collapse commecne.

Flux's picture

I'm up for the week. The month. The year. Others are laughing all the way to the bank.

Check it out:

   "People I speak with who have missed this huge move have been consuming a diet of doom and gloom. If you think that it doesn’t affect you, you’re kidding yourself. Constantly reading about hyperinflation and the collapse of the dollar and the end of the United States as a world power and the student loan crisis and omigod Obamacare is going to crush America and the Chinese are taking over the world and .?.?. STOP! Right now.

    It is recession porn, a focus on the negative that is a leftover effect of the crash and great recession.

    Go through your bookmarks, and delete all of these sites: the goldbugs, the end-of-worlders, the doom-and-gloomers, the outraged Fed critics, the Obama haters. They all have agendas that typically have to do with selling you subscriptions or advertising. They are not at all concerned with your returns, your portfolio or your retirement.".

-Barry Ritholtz


Just something to consider, my beloved Zero emos.

FinalEvent's picture

Doom -> Gold goes moon

Gloom -> Bitcoin does kaboom (to the moon)

SheepDog-One's picture

I've had a couple of banner years too....I'm a firearms dealer. Still Im not going to bend over and grab ankles and declare things wonderful like you, that's just stupidity.

Flux's picture

Lol, well you'd be better off enjoying life than huddled in your cornfields with a shotgun.

Just don't tell your customers that, eh?

SheepDog-One's picture

Whatever makes you feel better, douchenozzle.

Rainman's picture

If Ritzholtz had any balls he would have just said don't read Zero Hedge. But he doesn't want to drive the traffic to a growing competitor for eyeballs. Unfortunate that he greatly confuses recession porn with doomer porn and assumes neither devotee is smart enough to make any money.

SheepDog-One's picture

And one morning when the markets finally break down no doubt this Ritzholtz tribesman will be the first crying about how it's so unfair and demanding his investments be bailed out.....same old shit different decade.

TruthInSunshine's picture

When the markets do their next crash in both nominal and especially in real terms, fat Barry will be hiding from his alleged clients in a safe room full of Krispy Kreme donuts.

Flux's picture


You never went to college, did you?

Or graduate from high school, I suspect. That's okay. The uneducated and poor do have a rough go of things. It's quite reasonable for them gravitate to sites like Zero Hedge.




Rainman's picture

yo .... a junks magnet !

SheepDog-One's picture

'Im up for the week....up for the year'
Not on Friday you're not, I call bullshit on the Flux troll.

SAT 800's picture

I shorted ZB, the Long Bond contract this afternoon @134.21; basis June. I expect the Bond to decline throu-out the year.

Soul Glow's picture

What'd Putin say this time?

Kerry is a horse faced spoon fed mother fucker?

Winston Churchill's picture

Ladles are used for horse food.

FieldingMellish's picture

Copper regained its 50d sma. Significant and thoroughly anti-Gartman.

Itchy and Scratchy's picture

'Rose are red ...

viloets are blue ...

I'm a Schizophrenic ...

And so am I'

disabledvet's picture

I think it's "and so am i too" actually.

SheepDog-One's picture

Pretty crazy to realize all it takes to manipulate all financial markets is a daily series of strategic rumors/ignoring of actual data.

Soul Glow's picture

Pretty crazy we have a President who bows to robots.

SheepDog-One's picture

Well remember, ObaMao swore up and down that he's not there to enrich a bunch of Wall St banksters!
Yea right.

NotApplicable's picture

When the only participants are front-running the scam du jour, and average holding time is down to (what... seconds now?) playing the noise is all they've got left.

jay28elle's picture

Crash already, won't ya?  I'm ready, been ready.  

qazwsx's picture

Richard Russell calls this an "Erosion Market." 

SheepDog-One's picture

They just close DOW at -0.0- just to fuck with you?

thismarketisrigged's picture

lol i just fucking saw that, i was thinking like wtf.


0.00 on the dot, not even a fractional move in 1 direction, this shit gets so much more comical by the day.

dlfield's picture

Yeah I though it might be a typo, then checked several different places...same thing.  Don't think I have ever seen that before.  ?

Rainman's picture

Fuck charts! machine makes 856 fiatscos an hour and only works Tuesdays.