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Stocks Levitate To New Record Highs As GDP Expectations Slide

Tyler Durden's picture




 

Bad news is absolutely great news this morning it would seem. Just as we noted (ironically) this morning, equity algos appeared set for new highs no matter how terrible (or good) data was... and sure enough, the S&P 500 is testing its record highs once again... With Q1 GDP expectations plunging and even the hopeful hockey-stick of Q2's resurgence are now being chipped away as one sell-side economist after another folds...

 

Record highs for the S&P...

 

As JPY started the momo...

 

But someone is bidding aggressively for protection...

 

And GDP expectations tumbles...

 

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Wed, 06/04/2014 - 11:11 | 4823234 john39
john39's picture

fuller retard.

(edit) buy now, just imagine the new highs once it becomes official that the U.S. is in a recession, then depression... happy days are here again.

Wed, 06/04/2014 - 11:20 | 4823280 FL_Conservative
FL_Conservative's picture

BUY!!!!!!!!   We don't need no stinkin' data!!!!!!!!!

Wed, 06/04/2014 - 11:43 | 4823370 PartysOver
PartysOver's picture

For all those waiting for stocks to get Monkey Hammered be advised that the Monkey is flinging it's crap at YOU!

Full Retard:  Trying to Short a rigged Market.

Speculator:  One who sees gubberment stupidity and profits from it.  Gubberment stupidity in this case is Stock Market Manipulation to greatly increase the wealth of those that have to the detriment of those that do not.

When it does end it ain't going to be purdy.   But until then just BUY, BUY, BUY.

Wed, 06/04/2014 - 11:39 | 4823345 Bryan
Bryan's picture

*yawn* -- oh, is the stawk 'market' up again today?  That's nice.  What's on TV?

Wed, 06/04/2014 - 11:11 | 4823239 Aknownymouse
Aknownymouse's picture

I wanna break that hockey stick on somebody's head

Wed, 06/04/2014 - 11:29 | 4823308 Winston Churchill
Winston Churchill's picture

Terninal meltup.

How are stock prices in Zim dollars again ?

Wed, 06/04/2014 - 11:11 | 4823241 The Endless Pump
The Endless Pump's picture

Record new highs on GDP revisions up after a disaster Q1 and now new highs on GDP Q2 revisons down.  Just new highs....period.  Information is irrelevant.

Wed, 06/04/2014 - 11:11 | 4823243 BeetleBailey
BeetleBailey's picture

all on teensy volume.....

SHEEPLE MUPPET MONKEY HAMMERING.....SOON....

Wed, 06/04/2014 - 11:12 | 4823244 TheRideNeverEnds
TheRideNeverEnds's picture

Its really quite simply, just buy it before the FED does; its free money with almost zero risk.

Wed, 06/04/2014 - 11:36 | 4823331 lordylord
lordylord's picture

Good for you.  Keep playing their game and feeding the monster.

Wed, 06/04/2014 - 21:40 | 4825389 blackbeardz
blackbeardz's picture

feeding? no way. my way off killing it.

Wed, 06/04/2014 - 11:11 | 4823245 CPL
CPL's picture

No one is buying anything because they are broke with money that shouldn't buy pocket lint, therefore markets are awesome.  Yup...business as usual.

Wed, 06/04/2014 - 11:13 | 4823251 PlusTic
PlusTic's picture

financial markets have become totally not credible...it's all just a farce run by hard core criminals

Wed, 06/04/2014 - 11:15 | 4823259 HUGE_Gamma
HUGE_Gamma's picture

can't wait for the next deer in the headlights meme day

Wed, 06/04/2014 - 11:18 | 4823274 gjp
gjp's picture

That deer would be us bears.  For five years running now, looks like it will never stop

Wed, 06/04/2014 - 11:20 | 4823278 SheepDog-One
SheepDog-One's picture

Me too but I'm not holding my breath for it.

Wed, 06/04/2014 - 11:37 | 4823334 viahj
viahj's picture

what we need is a fat fingered sell side terr'st

Wed, 06/04/2014 - 11:16 | 4823266 Rainman
Rainman's picture

They better start cooking up a whole shitload of seasonally adjusted intellectual property.

Wed, 06/04/2014 - 11:44 | 4823373 pods
pods's picture

Another row of icons on the iPhone should do it!

pods

Wed, 06/04/2014 - 11:18 | 4823271 SloMoe
SloMoe's picture

Let them eat iPad...

Wed, 06/04/2014 - 11:22 | 4823285 El Hosel
El Hosel's picture

Billy Idol Recovery cries....Moar Moar moar

Wed, 06/04/2014 - 11:19 | 4823277 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

um, wasn't the adp a miss too? I was out all morning, just checked the markets, gold prices---shaking head again for 1000th day..

Wed, 06/04/2014 - 11:24 | 4823288 valley chick
valley chick's picture

You haven't missed a damn thing. Bad news is good news and it is POMO day. Wash. Rinse. Repeat.

Wed, 06/04/2014 - 11:31 | 4823312 disabledvet
disabledvet's picture

I really don't understand the price collapse in gold. (And copper just last week.)

I do understand that QE created an absolutely staggering amount of leverage...the question becomes "what was the collateral" (all of China's gold, silver, copper, etc?)

This still looks like a truly massive default "of something"...the only thing big enough to explain such a sudden collapse (last fall) in prices followed by a wicked increase because of the brutal winter and now a Russian invasion of Ukraine would be either New York City or London.

Gambling is perfectly legal in London...

Wed, 06/04/2014 - 12:17 | 4823509 holgerdanske
holgerdanske's picture

I agree. But come to think about it, who in a herd of stampeding wildebeest stop to think??

If you stop, you get run over, literally!

Find a rock, sit down and think it over. It is all bullshit,and paper, rather get some gold now, while it is still available. Wait until that stampede starts, then you can take your paper Dollars and light your cigars, or plaster it on the wall in stead of wall paper.

 

It is one big stinking fraud.

Wed, 06/04/2014 - 13:47 | 4823801 SheepDog-One
SheepDog-One's picture

The 'brutal winter' LOL yea sure.

Wed, 06/04/2014 - 11:20 | 4823279 nakki
nakki's picture

Maybe 1929 will be the all time high for S&P. Probably not but it would be appropriate.

Wed, 06/04/2014 - 11:40 | 4823350 gatorengineer
gatorengineer's picture

more along the lines of 2666 At this pace, next fall....

Wed, 06/04/2014 - 12:40 | 4823589 CHX
CHX's picture

That be very close to 4 times 666... Maybe as a blow-off top, and then the plunge into the abyss? We'll find out soon enough.

Wed, 06/04/2014 - 13:00 | 4823645 gatorengineer
gatorengineer's picture

Sounds about right as we are in about 4x as much shit as we were when we hit 666.

Wed, 06/04/2014 - 11:23 | 4823284 q99x2
q99x2's picture

FEDs software is going to keep the bribes going to Congress up untill the election.

BTFD

Wed, 06/04/2014 - 13:52 | 4823824 SheepDog-One
SheepDog-One's picture

'Just until the election' LMAO yea sure been hearing that bullshit for years too.

Wed, 06/04/2014 - 11:25 | 4823290 MFL8240
MFL8240's picture

This shit is absolutely disgusting.  We have an equity levitation never seen before in history built entirely on fake news and printed money.  Just disgraceful!

Wed, 06/04/2014 - 11:27 | 4823295 GFORCE
GFORCE's picture

The European GDP, coupled with the inflation figures yesterday have raised many traders expectation of strong action from Draghi.

Wed, 06/04/2014 - 11:28 | 4823300 BeerMe
BeerMe's picture

If an economy collapses with decreasing purchasing power...Is an inflated stock market worth anything?

Wed, 06/04/2014 - 11:29 | 4823302 khakuda
khakuda's picture

Why not.  Hilsenrath said on page 1 that the Fed is worried about bubbles, but not going to do anything about it.  Party on!!!

Wed, 06/04/2014 - 11:29 | 4823307 TheRideNeverEnds
TheRideNeverEnds's picture

seriously, look at this market, its fucking exploding higher, there are no sellers. 

 

this is insanity.  

Wed, 06/04/2014 - 11:44 | 4823375 NOTaREALmerican
NOTaREALmerican's picture

Only a pessimist would sell.    And pessimists aren't normal.

Wed, 06/04/2014 - 13:58 | 4823860 SheepDog-One
SheepDog-One's picture

Yep, no matter the price there's a long line of people fighting to pay whatever!

Wed, 06/04/2014 - 11:30 | 4823309 carbonmutant
carbonmutant's picture

FSLR looking good this morning...

 

Wed, 06/04/2014 - 11:31 | 4823313 pound the vix
pound the vix's picture

Europe leaderhip does not make a move without telling Goldman and JPM first.  obviously Dragi plans something very favorable for the banks.  New highs in S&P

Wed, 06/04/2014 - 11:33 | 4823317 Cheater5
Cheater5's picture

Really weird day.  The $ADD hasn't been positive all day and the spy seems to levitating on relatively week $Tick data.  Maybe its all those stock buyback programs sitting at the bid and absorbing the sellers.  Dunno....

Wed, 06/04/2014 - 14:43 | 4824027 Sandy15
Sandy15's picture

Uh, no.  You should look at the options in the futures market.  Many being bought way out of the money.......  Fed anyone?  Maiden Lane I, II or III is making money while the other is losing money.  But who cares because the Fed can have the other account make money tomorrow.  Boy if I could put zeros in my account each day, I could trade my little hearts desires and never fear losing money........

Wed, 06/04/2014 - 11:34 | 4823318 Cheater5
Cheater5's picture

Double post.  oopps

Wed, 06/04/2014 - 11:35 | 4823327 holgerdanske
holgerdanske's picture

They can buy the whole world as long as people will accept the monopoly money, there is nothing to stop them but a panic.

And this can continue for a while, even though f 5 year old can tell you it can`t continue for ever.

 

Something is going to give, --- when, is the question!

Wed, 06/04/2014 - 11:43 | 4823368 NOTaREALmerican
NOTaREALmerican's picture

Record car sales,   increasing housing sizes,  increasing debt...    signs of increasing prosperity everywhere.  

Buy now, or be priced out forever!

Wed, 06/04/2014 - 11:44 | 4823374 tempo
tempo's picture

IWM/QQQ are not reaching new highs, SPX new highs everyday by one point on low volume to mask the terrible economic and world political situations. Obama positive headlines control the masses.

Wed, 06/04/2014 - 11:48 | 4823389 replaceme
replaceme's picture

I feel like I'm at a craps table, and someone keeps throwing points - how do you not push money onto the table? 

Who's the house, btw?  I assume they'll want my credit card at some point.

Wed, 06/04/2014 - 11:52 | 4823401 dontgoforit
dontgoforit's picture

The Chinese and Russians - via front companies - could be buying the US stock market in order to crash it?  Enter Bond, James Bond.

Hey, if 'Belgium' can be buying T-Bills in amounts greater than their GDP, why not?

Wed, 06/04/2014 - 11:52 | 4823412 CHX
CHX's picture

After 1929 it was pretty much downhill for quite a while. Will history rhyme this time around too? 1929 top after the devilish 666 bottom? Time will tell.

Wed, 06/04/2014 - 11:53 | 4823417 dontgoforit
dontgoforit's picture

Satan could be calling the shots, from the shadows.  That would make more sense than what we're able to see.

Wed, 06/04/2014 - 12:02 | 4823429 Atomizer
Atomizer's picture

European Union AQR vs. Game Theory lies. The chart remains the same. The negro US President doesn't care. He is only looking to cover his inexperienced reggie fucked asshole.

Wed, 06/04/2014 - 12:00 | 4823433 Hank Reardon
Hank Reardon's picture

Nothing like advertising the Banana Republic States of Amerika.

I am no longer accepting the US Dollar. It's only fit as bog roll, and even then it is greasy..

Wed, 06/04/2014 - 13:13 | 4823681 g'kar
g'kar's picture

Get ready to bail, I'm going all in with everything including the kitchen sink.

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