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"Mysterious" VIX-Seller Ramps S&P To Unchanged On The Week
For the 4th day in a row, selling pressure in US equities climaxed as Europe closed. The big buying-panic today though was sparked with about an hour to go as VIX was pummeled lower and stocks levitated to save all kinds of key technical levels - (S&P unch, Nasdaq green on the week, S&P back above its 50DMA, Russell off its 7-month lows). Trouble with all that exuberance... bonds, the USD, commodities, JPY carry, and credit weren't buying it. The USD rose 0.2% for the 2nd week in a row (led by 0.5% weakness in the EUR) and JPY strengthened. Commodities all closed higher on the week, led by oil and copper (+2%) with WTI over $102. Treasuries sold off modestly into the late-day buying scramble in stocks but ended the week 10bps lower in yield (biggest weekly drop in 2mo, lowest in 6mo). VIX plunged back to almost 12 with its biggest daily drop in a month. T-Bonds and Bullion are both +7.2% YTD, S&P +1.6% YTD, Russell 2000 -5%YTD.
Behold... The VIXnado...
Which dragged stocks up to critical levels and off other critical levels...
S&P Sectors on the week...Financials worst, Tech best
But bonds didnt buy it today...
Nor did credit...
Nor did JPY carry
But leaves them lagging on the year still.. notice that the price appreciation of the US Treasury Long Bond and Gold are now equal for the year...
On the week, bonds rallied notably...
Commodities gained...
and the USD rose modestly led by EUR...
As a gentle reminder, credit markets are at best flashing orange if not red...
Charts: Bloomberg
Bonus Chart: Those "costs" are mounting up...
Bonus Bonus Chart: At least Money Flow is improving... oh wait...
h/t @Not_Jim_Cramer
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Thank God!!!! the market matters MORE than ANYTHING ELSE!!!!!!
Back to Rigged....wouldn't know how to trade it otherwise
rigged, like a condemned building...or rigged like 3 card monte?
XLF isn't buying it either, closed below the 20 week.
That was pretty fucking coordinated and planned.
Squeeze before the dump.
Absolutely not, that's how you blow out a O-ring. Best thing to do is relax and read the WSJ, let things happen naturally.
I can't relax reading the WSJ.
Have no worry, they will slam USDJPY higher on Sunday night to catch up. This was all about options folks. The MMs seem perfectly fine letting people make money on calls, but will always destroy puts on the week
Exited most of my puts on Thursday morning (great day!)
Even though VIX is at 3/6 month lows, it HAS NOT been good protection.
Definitely not a "buy and hold" market IMO, so I just nibble and pull out short term profits as they materialize.
Must have a green weekend!
Weather's nice, people will be out for barbeques and walkies - and talking to each other.
"There's no place to get yield but in equities you know, they got this."
2008-2009 a distant memory, just a glitch in the system.
Moths to the flame.
what happened to 48 hour deadlines and war over the weekend?
War headlines have been put on time out status. We don't want to spook everybody out of the 'market' that might cause an accident. We just want to scare out a few weak hands. War headlines will come back next week so that old Yeller can get some shorts to pile on that she can squeeze out later.
I wonder if this guy lost a fight with a nail gun.
http://www.zerohedge.com/news/mark-grant-i-do-not-believe-any-longer-cat...
If he did it was a win for us. His writing was awful.
not deadlines.. "consequences"
Uh-oh...bonds indicating a whole, whopping 10 point decline on SPX... possibly. Get out! Run for your lives!! The horror, the horror.
Was the VIX-Seller @Not_Jim_Cramer? That sly dog! Fat stacks for the weekend!
It is more the case of protection being removed rather than outright selling of the vix. The vix is the result and not the cause.
Shorts: Getting the Theon Greyjoy treatment since 2010. Are we at the "eunuch" phase yet?
Not sure why anyone without a direct line to Yellen would try to short in this age? The "markets" can stay irrational for much longer than anticipated. There will come a day when it is prudent to short, but it is not today.
Trying to pick that inflection point is a b*tch.
The world is nothing without the Belgium vix-slammer bitchez. Be greatful.
so there is a Belgian source not only buying US Treasuries, but slamming the VIX?
It's the same asshole.
Edit, i mean it's the same entity that does it. English is not my main language, so i didn't say asshole to you, but it's the same asshole that does 'it'.
I've got to wonder if it isn't a Mecuria satellite office.
With a Russian engine.
My guess is that those in charge didn't get the horrible confidence number until late in the day, and we ALL know bad news and the potential for civil war are good for stocks and bad for VIX protection.
Do I need a /sarc here or is it just understood?
my post was Sarcasm Ness.. HEAVY SARCASM!!!!
Kevin Henry, you evil basturd !
KHank is on vacation in belgium.
A big VIX-short from Belgium, I may assume...
Seems logical to me that on Monday stocks will catch up to HY credit, right after open - which implies a drop. But no worry, POMO coming, too....
Yep. We'll see if the dollar is about to put in a double bottom here and start surging again like last year.
Forget mere "fear trade" as we move to fear of God trade.
The wirters that follow all this correlation must be making huge killings daily. We are blessed they take time out from counting their booty to enlighten us.
.
VIX= volume inflation Xanadu. Grease is the word...
Refusing to admit that it is in serious trouble. Refusing to admit that it is dying. But dying it is - the great Bull<shit> market of 2009-2014...