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It's Not The Economy; It's "Treasury-Selling" Tuesday Stupid!
It's Tuesday - so bonds are red, idiot. Trannies (-0.9%), rather unusually, underperformed and on the back of yesterday's Russell 2000 weakness suggests beta-chasing muppets are less engaged. After yesterday's USDJPY recoupling, Treasury yields pushed higher once again and almost recoupled with stocks strength from last week. 10Y yields are up 12bps in the last 2 days - the worst 2 days in almost 7 months. The USD leaked modestly lower led by EUR strength. Copper gave back all its gains from the weekend's exuberant China PMI and oil, gold, and silver flatlined. VIX remains total decoupled from this last few days' exuberance. Volume was average - fed by the early plunge but faded rapidly as we levitated. With regard to the red close for stocks on a Tuesday: it is rumored that a wrong seasonal adjustment factor was applied to today: it was really a Wednesday.
Quite a day for stocks... Trannies worst Tuesday in 4 months
Today's bounce in the Russell 2000 was off the 200DMA once again
It's not just US equities.. and not just 2014 that the idiocy of the Tuesday effect is occurring...
If 2014's historical performance is anything to go by, the rest of the week will be good for bonds...
USDJPY already recoupled and now TSY yields...
But VIX remains grossly decoupled from stocks as it appears the record highs are being accmpanied by plenty of protection...especially ahead of Draghi
Treasury yields were a one-way street - the worst 2 days in 7 months...
Copper dropped on the China PMI miss and commodities flatlined in general...
Charts: Bloomberg
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Holy shit-splatter! The DOW closed LOWER - and it's POMO Tuesday.....
Sixth or seventh POMO day fail, by my count.
Going to need twice as much hopium or its cold turkey time.
This is nothing a couple of additional trillions can't solve!
Jesus Christ, when that crash comes, it will be a mother of note.
Gold must be a ridiculous bargain at the moment.
It will take a gold bullet to slay this vampire.
And all will see it was so obvious, in hindsight, and ask themselves how could we be fooled, - again!.
And don't call me Tuesday!
Trannies need love too.
That's NOT what I meant!
I covered my June Long Bond Shorts dating from 5/28 and anounced here as always; for $4625 today at 136-09.
Money is darting in all directions trying to find a place to hide. But the Vix is low lol
US Treasuries were WAY overbought in the short run. I said the same thing here in comments last week.
So the bull run (in prices) that started ~ 6 months ago is still in effect.
Maybe; maybe not; it's certainly impossible to say any such thing at this time. I covered my shorts today because the chart reached the bottom of its' ascending trading range; markets only break out of trading ranges once in a while; but this one may do so; now; no one can say.
We chinesee, We play joke, we don't want your federal reserve notes.....
Very inflationary to have small caps getting slammed while "war-ring up."
Guess we all Better Blame Bo.
there are no markets just bins where they throw printed FED Dollars!
Covered my three short crude oil contracts this evening @102.76; for essentially, an even $3,000. Those were July sold at 103.85.
I think that there were at least 2 separate analysts bashing gold this afternoon on CNBC.
I refuse to participate in the ponzi eCONomy. I'll remain on boycott by spending as little as possible and avoiding any of the multinational corporations.
Enjoy the rigged markets! Fuck you Washington DC thugs and Fraud street!!
Oh c'mon Herr Oberst.
Tell us how you REALLY feel now, bitte!
Sorry I held back a little bit.
There must be a Hitler video about this somewhere. OH Yeah here it is https://www.youtube.com/watch?v=yqkn1tviGMM
Very interesting ... But stupid..
https://www.youtube.com/watch?v=XkFx3TaOunA
Und Herr Oberst... Lassen Sie es nicht wieder passieren, oder Sie an die Rssische Front zu gehen!
Verstehen, bitte??
Jawol!
Danke!
Aber.. Now that I think of it.. The Russian Front could well happen again!
I'm buying all those hand warmers I can get now !
And so that's also why the AK-47 was designed with such a hot front handguard...
Very interesting.. And smart!
I'm currently at the Southern front. I'm just waiting on the rest of the sheep to come to their senses so we'll have a Northern, and Western front as we surround the seat of the feral Federal government and take back our country from the Constitution stomping, oath breaking, fascist government which currently is in control.
Pretty sure I said everything would catch up to SPX.. VIX is the holdout. Just wait till they give it a good crushing over the next 2 days. You simply cannot fight this thing.
Summer of recovery. Quiksilver takes a 46% dump .
http://www.latimes.com/business/la-fi-quiksilver-earnings-20140603-story.html
All the tasty waves were frozen due to the polar vortex bro.
What the hell do I know but gold seems like a buy opp and I am not doomer/prepper type. I just don't see how gold does not blast off sooner or later. When equities tank along with USD and treasuries.... What's left?
Bitcoin is up.... OK Your queue .....
The volume is so pathetically low, no one is left in this ponzi.
Except for the HFT bots which provide licksquiditee.