Growth Scare, What Growth Scare? Russell 2000 Screams To New Record High

Tyler Durden's picture




 

Despite 2014 consensus GDP now languishing at 2.2% (below its 2.9% hope in March, and gas prices near record highs for the time of year; it seems the Q1 growth scare that saw small caps, momos, biotechs, and half the Russell 2000 collapse has been all but forgotten as the favorite index of short-squeezes and algorithmic ignition has just recovered all its losses and regained its all-time record highs from March. Mission accomplished? Bear in mind that over 600 of the Russell 2000 names are still 20% below their 52-week highs.

New record highs...

 

But a third of the Russell are still down 20% or more...

 

You can't keep a good market down - or a bad one...

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Tue, 07/01/2014 - 13:25 | 4914334 hedgeless_horseman
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I love Big Brother. 

He provides for our wealth, health, education, food, entertainment, journalism, and employment.

Tue, 07/01/2014 - 13:26 | 4914347 Say What Again
Say What Again's picture

Dear Ms. Yellen,

Please advise us when the market looks to you to be a bit overheated.

Tue, 07/01/2014 - 13:30 | 4914355 hedgeless_horseman
hedgeless_horseman's picture

 

 

Trees do grow to the sky!

-Janet

 

What metric are the Russell 2000 stocks measured in, again?

 

USD.

Tue, 07/01/2014 - 13:31 | 4914377 Say What Again
Say What Again's picture

I've resisted going long for months, but that all changes now.  I'm going to go large on the SPY, QQQ, DIA, and IWM!

Tue, 07/01/2014 - 13:32 | 4914386 hedgeless_horseman
hedgeless_horseman's picture

 

 

When all those foreign USD come home it will be very bullish, indeed, for stocks...nominally speaking.

Tue, 07/01/2014 - 13:35 | 4914407 Say What Again
Say What Again's picture

I failed to place the "</sarc>" at the end of my prior post.

Tue, 07/01/2014 - 13:42 | 4914433 RaceToTheBottom
RaceToTheBottom's picture

Stockmarket highs with no inflation and no increases in wages of the prolotariate/serfs......

To the moon Alice

Tue, 07/01/2014 - 13:33 | 4914396 AccreditedEYE
AccreditedEYE's picture

As I mentioned in yesterday's ZH R2K story, the way to play is be LONG R2K. It has a ton of catching up to do with it's bigger brothers. Way more bang for the proverbial buck. Whatever you do, DO NOT be short it.

Tue, 07/01/2014 - 13:28 | 4914359 NotApplicable
NotApplicable's picture

It's the growth that scares me.

How does cancer fit into the GDP calc again?

Tue, 07/01/2014 - 13:29 | 4914367 LawsofPhysics
LawsofPhysics's picture

Precisely, growth in what exactly?  Growth of any one species forever in a closed system with finite resources is impossible.

hedge accordingly.

Tue, 07/01/2014 - 13:30 | 4914370 NoDebt
NoDebt's picture

Yea, though I walk though the valley of the shadow of insolvency, I will fear no market downturn: for The Fed art with me; thy Press and thy POMO they comfort me.

Tue, 07/01/2014 - 13:34 | 4914404 Bunga Bunga
Bunga Bunga's picture

Cannot be told, too much noise.

Tue, 07/01/2014 - 13:42 | 4914432 HardAssets
HardAssets's picture

Does INFINITE CRIMINALITY + INFINITE PUBLIC'S STUPIDITY = THIS GOES ON TO INFINITY  ?

It sure as hell feels that way right now.

Tue, 07/01/2014 - 13:24 | 4914341 alien-IQ
alien-IQ's picture

DOW 17k less than 5 minutes away.

Tue, 07/01/2014 - 13:33 | 4914392 NoDebt
NoDebt's picture

Up a buck-seventy and going parabolic.  4 points to go.  I think I just felt the tractor beam engage.

Tue, 07/01/2014 - 13:26 | 4914348 Pooper Popper
Pooper Popper's picture

Hey wallstreet,,,,

FUCK YOU!

Tue, 07/01/2014 - 13:28 | 4914361 Pooper Popper
Pooper Popper's picture

wheres Homer simpson when you need him,

"Urges to kill rising",,,,,,fading,,,,fading   fading,   ,  ,RISING!

Tue, 07/01/2014 - 13:28 | 4914351 Dr. Engali
Dr. Engali's picture

What ever you do...... Don't sell. It'll freak the robots out. Ride this pig and grab it all! 'Markets' only go one way don'tchyaknow?

Tue, 07/01/2014 - 13:26 | 4914352 JustObserving
JustObserving's picture

If you manipulate markets higher, growth will come.  In any case, one can always manipulate inflation lower to generate growth.

Of course, US debt and unfunded liabilities of $1,260,000 per taxpayer and rising at $70,000 per year is no problem.

Tue, 07/01/2014 - 13:27 | 4914358 toros
toros's picture

It's not a market, it is a monitary tool.  And the FED doesn't have a balance sheet.

Tue, 07/01/2014 - 13:28 | 4914360 astoriajoe
astoriajoe's picture

I wonder when the soonest -5% day will be. maybe never. sigh...

Tue, 07/01/2014 - 13:30 | 4914368 Dr. Engali
Dr. Engali's picture

The day the 'market' loses 5% in one day is the day the market will vaporize right in front of our eyes.

Tue, 07/01/2014 - 13:29 | 4914364 TabakLover
TabakLover's picture

My God.  The effect of the market not going up....let alone down 5-10% must be more potentailly catastrophic than anyone can imagine.

Tue, 07/01/2014 - 14:02 | 4914467 HardAssets
HardAssets's picture

Recall BLACK MONDAY Oct 19, 1987 when the market dropped more than 20% that day.

 

When this rigged POS casino goes down, its gonna be something for the record books.

Tue, 07/01/2014 - 13:29 | 4914369 alien-IQ
alien-IQ's picture

Shopping list:

Bottle of Scotch.

Gallon of gas.

Zippo.

Tue, 07/01/2014 - 13:30 | 4914372 smcapmachine
smcapmachine's picture

this website should be blown up

Tue, 07/01/2014 - 13:34 | 4914401 NoDebt
NoDebt's picture

Wait... what?

Tue, 07/01/2014 - 14:48 | 4914629 Chump
Tue, 07/01/2014 - 13:30 | 4914374 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

It is all about the pensions. If they go the pitchforks and torches will come out because those that are reliant on them are the most vunerable to a financial meltdown. These assholes know exactly what they are doing to keep the people playing the game.

Just remember all those pensions how much they lost in 2008 only just have recouped their losses to get back to what they were worth prior to 2008. If you were in bonds prior and stayed in bonds afterwards you've outperformed the market and haven't lost like them pensioners in the market. The short term pump to the moons on index funds allowed a select few to make some quick obscene profits.

 

Tue, 07/01/2014 - 13:31 | 4914380 khakuda
khakuda's picture

Needs.  More.  Bubble.

Tue, 07/01/2014 - 13:34 | 4914385 orangegeek
orangegeek's picture

Dow up 1% - but POMO usually stops at 1100a

 

Yellen is unloading it's arsenal today.  No POMO on Wed nor Thurs, but in light volume, Yellen can still hold markets up.

 

Looks like another share buyback season will be imposed very soon - Jul 8 start actually.

Tue, 07/01/2014 - 13:32 | 4914388 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Choom boy is after the banks now if anyone hasn't noticed. ISIS knocking over Central Banks, FISC documents being allowed to be leaked showing nothing except that they are monitoring every major global financial institution. The Oshiv is coming out for all you Fabian third way centrally controlling assholes next.

Tue, 07/01/2014 - 13:32 | 4914389 fonzannoon
fonzannoon's picture

we need a good pm knockdown before the close.

Tue, 07/01/2014 - 13:33 | 4914393 madbraz
madbraz's picture

If you plot treasury bond prices from 12:45 to 1:30 every day since the NY FED started doing reverse repos ($150 billion today, $3 billion per participant), you can clearly see that during that time frame treasuries only go down in price, factual evidence that reverse repos are a mechanism to provide collateral for banks to short treasuries.

 

Is there someone awake and with a pulse (and a conscience) at the US Treasury who will consider suing the NY FED for conspiring against the Federal Government?

Tue, 07/01/2014 - 13:34 | 4914400 goldstandard
goldstandard's picture

With only a little over four months to go before the mid-term elections, manipulation of the markets now has to go into overdrive or Barry will truely become a lame duck if he loses the Senate. The only problem of course is that Joe six pack is tapped out, food prices have gone through the roof and those five pound blocks of government cheese are looking like surf & turf to many living on the edge in an inflationless Amerika.

Tue, 07/01/2014 - 14:00 | 4914493 HardAssets
HardAssets's picture

'elections' ?

Does anyone actually think those are real . .

or that it makes any difference what lawyer/liar/politician fills the figurehead slots ?

 

Mustn't have been paying any attention all these years

Tue, 07/01/2014 - 13:35 | 4914410 Bunga Bunga
Bunga Bunga's picture

Calm down, Russel 2000 P/E is only 85.

Tue, 07/01/2014 - 13:42 | 4914431 FieldingMellish
FieldingMellish's picture

Plenty of headroom there. Remember, while there is a floot at zero, there is no ceiling.

Tue, 07/01/2014 - 13:37 | 4914419 TabakLover
TabakLover's picture

I can only imagine what is going to happen at 3pm when everyone bugs out to watch US-BEL. Melt-up City?

Tue, 07/01/2014 - 13:38 | 4914420 Kaiser Sousa
Kaiser Sousa's picture

if you dont believe that they r shitting all over the phony paper price of Silver you r trippin...

http://www.pmbull.com/silver-price/

Tue, 07/01/2014 - 13:48 | 4914456 SeattleBruce
SeattleBruce's picture

EPIC!  Don't miss the ride!  You know what happens when you ride the roller coaster up the long hill........click, click, click, click...

Tue, 07/01/2014 - 14:02 | 4914504 ThisIsBob
ThisIsBob's picture

Probably time for another top-and-crash call.  Haven't seen one here for a couple of days.

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