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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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.

FL_Conservative's picture

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

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.

Bryan's picture

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

Aknownymouse's picture

I wanna break that hockey stick on somebody's head

Winston Churchill's picture

Terninal meltup.

How are stock prices in Zim dollars again ?

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.

BeetleBailey's picture

all on teensy volume.....

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

TheRideNeverEnds's picture

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

lordylord's picture

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

blackbeardz's picture

feeding? no way. my way off killing it.

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.

PlusTic's picture

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

HUGE_Gamma's picture

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

gjp's picture

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

SheepDog-One's picture

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

viahj's picture

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

Rainman's picture

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

pods's picture

Another row of icons on the iPhone should do it!

pods

SloMoe's picture

Let them eat iPad...

El Hosel's picture

Billy Idol Recovery cries....Moar Moar moar

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..

valley chick's picture

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

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...

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.

SheepDog-One's picture

The 'brutal winter' LOL yea sure.

nakki's picture

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

gatorengineer's picture

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

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.

gatorengineer's picture

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

q99x2's picture

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

BTFD

SheepDog-One's picture

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

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!

GFORCE's picture

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

BeerMe's picture

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

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!!!

TheRideNeverEnds's picture

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

 

this is insanity.  

NOTaREALmerican's picture

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

SheepDog-One's picture

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

carbonmutant's picture

FSLR looking good this morning...

 

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

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....

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........

Cheater5's picture

Double post.  oopps

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!

NOTaREALmerican's picture

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

Buy now, or be priced out forever!

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.

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.

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?

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.