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Selling Scramble Becomes Buying Panic But The S&P/Dow Fail To Hold April Gains

Tyler Durden's picture




 

Owners of high-growth, high-beta stocks could not find a buyer for any of their crap today some mid-afternoon shenanigans between AUDJPY, VIX, and more utterly useless Russian headlines meant those same owners of high-growth, high-beta stocks were beating buyers away with a shitty stick. Pandora is a great example of the chaos (today's swings down 2%, up 4%, down 11%, then up 6%) as today's action in the so-called "market" was anything but human. The buying panic lifted the S&P, Dow, and Trannies briefly into the green for April but very late-day weakness left only the Trannies green for April.

"Most Shorted" stocks had fallen 2.5% (against a 0.5% drop in the S&P) when the squeezathon began and lifted them back to almost unch. The Russell 2000 tested below its 200DMA and was ramped back above it for the 4th time in the last 2 weeks. Away from the equity excremation, the USD ended the day unchange (JPY lower, SEK higher); Treasury yields dumped and pumped to end up 2-4bps on the day; and gold and silver rallied off spike lows early on but ended the day -0.6% or so. We just hope the desperate BTFWWIII'ers didn't use up all their BTFTuesday ammo...

Here is your "market" for the day...

 

Year-to-date, financials are now red as BofA's admission of maffematical micreance drags em lower

 

The Russell lost and regained its 200DMA once again.

(just look at how technically it trades, look at the perfect reversals...!)

 

Wild ride in momo muppetry...

 

And Biotechs bounced all too pefectly to unchanged only to be sold into the close...

 

And despite the oump, the S&P and Dow lost the gains for April

 

"Most shorted" were dumped and pumped...

 

AUDJPY was in charge though the overnight lift all started with a bounce off the crucial USDJPY 102.00 level...

 

As The VIX tail wagged the market dog once again...

 

Treasury yields roundtripped... with the long-end underperforming

 

Gold and Silver were smashed lower on a better than expected housing data print - then limped higher all day... Oil ended up on the day after early weakness

 

Charts: Bloomberg

Bonus Chart: A reminder of how great earnings season is going...

 

 

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Mon, 04/28/2014 - 16:09 | 4705174 NDXTrader
NDXTrader's picture

These moves are pre-programmed. If those weren't the "reasons" then something else would be. They need everything balanced out on the 15 and 30 minute charts for the Fed and unemployment report so you can't go confidently long or short into either one

Mon, 04/28/2014 - 16:15 | 4705212 medium giraffe
medium giraffe's picture

But is it really art?  I conceed the Russell 2000 chart with highlighted circles looks like an upside-down cartoon snake.  $sssss....

Mon, 04/28/2014 - 16:32 | 4705252 knukles
knukles's picture

Why canz my stawks goes up?

Mon, 04/28/2014 - 16:09 | 4705176 symtex411
symtex411's picture

What do you think, s&p surge to new all time high by Wed and then finish neutral by friday?

Mon, 04/28/2014 - 16:26 | 4705192 NDXTrader
NDXTrader's picture

The only thing I can predict with absolute certainty is that by the Fed announcement the Nasdaq will sit squarely in between the 50 period simple and 50 period exponential moving averages on the 30 minute chart. Happens every time

Mon, 04/28/2014 - 16:09 | 4705177 fonzannoon
fonzannoon's picture

Thw worst part is $6 from now CNBC dickfaces can start marching out the Aapl $1,000 crowd 40 mins out of every hour again.

Mon, 04/28/2014 - 16:10 | 4705186 Pareto
Pareto's picture

$TRIN at 1.4 or so all.....day......long. and we log 6 on the SnP.  Yup no manipulation going on here.

Mon, 04/28/2014 - 17:06 | 4705238 TheRideNeverEnds
TheRideNeverEnds's picture

TRIN is a worthless piece of shit, take it off your board.  There is only one indicator that works.  Is QEternity still in effect?  If yes then buy stocks, if no then we must have reached escape velocity so buy more stocks; you cant lose. 

Mon, 04/28/2014 - 17:22 | 4705447 Pareto
Pareto's picture

your right +1.  but it never used to be that

Mon, 04/28/2014 - 17:22 | 4705448 Pareto
Pareto's picture

your right +1.  but it never used to be that

Mon, 04/28/2014 - 16:11 | 4705190 TheRideNeverEnds
TheRideNeverEnds's picture

Tomorrow is Tuesday though so we will be going higher and the "market" is a policy tool so it will keep going up through at least next presidential election.  

Just close your eyes and buy them, its a no brainer.    

Mon, 04/28/2014 - 17:56 | 4705549 Squid Viscous
Squid Viscous's picture

lol ...dickface - you've been "predicting" S&p 1900 for about 4 months now... if tomorrow is red will you go away you worthless fuck?

Mon, 04/28/2014 - 17:58 | 4705579 fonzannoon
fonzannoon's picture

you talkin to me?

Mon, 04/28/2014 - 21:06 | 4706037 TheRideNeverEnds
TheRideNeverEnds's picture

Nope, if tomorrow is red I am going to buy back some of the spoos I let out into the close today anticipating a ramp for the end of the month to close the SPX in the green.   

 

Yellen can pull another 30 points out of her ass easy.  She need only dust off the old line "we will keep tapering unless we decide not to because of reasons and either way will keep giving free money to the top 1% for the foreseeable future." BAM! e-minis up 30 points in as many seconds.    

Mon, 04/28/2014 - 16:12 | 4705205 Shizzmoney
Shizzmoney's picture

ZH is really having too much fun at this 3:30 ramp stuff

And so am I.  "Free market" LOLOLOLOLOLOL

Mon, 04/28/2014 - 16:14 | 4705209 Dr. Engali
Dr. Engali's picture

Gold and silver were smashed, pulverized, and decimated. Precious metals are well on their way to zero while stawks and bawnds soar like an eagle, take off like a rocket, take a quantum leap to new heights.

Mon, 04/28/2014 - 16:16 | 4705219 NDXTrader
NDXTrader's picture

Yeah, funny how tapering hurts one but not the other. These carnival barkers are actually trying to act like the BOJ might provide new stimulus so they can ramp the USDJPY. It's absurd

Mon, 04/28/2014 - 16:29 | 4705249 Bernoulli
Bernoulli's picture

I just wanna know: Who is actually buying physical gold and silver and stashing it away in large quantities since a year?

Those are the ones pulling the strings behind this giga-manipulation.

Simple, no?

Mon, 04/28/2014 - 16:38 | 4705274 Obama_4_Dictator
Obama_4_Dictator's picture

Just stay the course, we are going to win big

Mon, 04/28/2014 - 16:26 | 4705245 disabledvet
disabledvet's picture

DB as creditanstalt on steroids?

It's been many generations since the West has had an outright deflation scare...let alone an outright deflation.

Fuel prices have collapsed in Missouri.

Hard to be long if Putin has been totally defeated here.

Obviously no one trusts any of the Banks right now.

I would take profits in Morgan Stanley...especially if the Ali-baba IPO is looking way oversold.

Certainly isn't as bad as Facebook...but it has that fee(l).

Mon, 04/28/2014 - 16:38 | 4705275 fed_depression
fed_depression's picture

Individual stock insane volatility is as far as I can remember is always the precursor to a down market over time. It happened in 89 it happened in 2000 and it happened in 2007.

Mon, 04/28/2014 - 17:14 | 4705399 g'kar
g'kar's picture

These FED double pumps must be costing the taxpayers plenty to allow the big boys to bail out unseen.

Mon, 04/28/2014 - 17:21 | 4705444 Roger Knights
Roger Knights's picture

This thrashing was a feature of the top in 1929.

Mon, 04/28/2014 - 17:46 | 4705537 NoIdea
NoIdea's picture

Pump and Dump has become Dump and Pump?

Mon, 04/28/2014 - 17:46 | 4705540 Squid Viscous
Squid Viscous's picture

con-ed bitchez!

Mon, 04/28/2014 - 19:32 | 4705776 Bemused Observer
Bemused Observer's picture

Yeah yeah...the stock market to me looks like a sideshow tent, and the barker is doing his best to lure in the 'marks'. "See the Amazing Market! She walks. She talks. She craaaawls on her belly like a reptiiiiile!"

But it's just a bored-looking girl posing in a box with mirrored sides. And they don't give you your money back when you complain that it's fraud.

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