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Dow Breaches 17,000 As VIX Plunges To New Feb 2007 Lows
Stocks ignored yesterday';s spike lower in VIX but didn't today. VIX closed at 10.3 - its lowest close since Feb 2007. Stocks initially dropped on the 'good news is bad news' payrolls report but thanks to ECB jawboning the EUR down (USD up), USDJPY went on a stop-run and blew back through 102 providing just the ignition to get stocks going. Bonds sold off on the jobs print but rallied back all day to close only 2bps higher in yield. The USD rose over 0.4% - its best day in 2 months. Gold, silver, and copper rose after the jobs data. Stocks rallied ~0.4% from the payrolls print and closed with a 'standard' melt-up buying panic into the long-weekend.
Stocks rallied ~0.4% from the payrolls print (after an initial drop)
and the Russell went totally dead after Europe closed...
USDJPY started it but didn't finish...
But VIX was large and in charge as it tumbles back to a 10-handle
But bonds didn't buy it at all...
FX markets were very noisy - the Riksbank surprised with bigger-than-expected rate cut (and SEK dumped) and then Draghi and US jobs sent EUR lower and USD higher (closing +0.55%!)
Gold and silver slipped into the print then were jammed lower and rallied for the rest of the day. Copper continues to surge in CCFD unwinds...
Charts: Bloomberg
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Music for DOW 17,000
Fly me to the moon
And let me play among the stars
Let me see what spring is like
On a Jupiter and Mars
In other words, Fed, hold my hand
In other words, baby , kiss me
http://www.youtube.com/watch?v=aSPbwXUq9vM
Come fly with me, let's fly, let's fly away
Once I get you up there
Where the air is rarefied
We'll just glide
Starry-eyed
http://www.youtube.com/watch?v=SLC5AGGHLz0
Frank Sinatra, Chairman of the Board
---------------------------------
Party like it's 1929
http://www.youtube.com/watch?v=9SHfyxs2SPI
Loose Bruce
Im thinking more like Five Finger Death Punch!
Burn Motherfucker Burn,
Burn motherfucker Burn!
Their last album was the shit!
Single digit VIX will release the Kraken!
There's nothing left for the Wall Street scum balls to get out of this """market""" now and they know it.
Expect to see Wall Street become a ghost town soon as all the rats won't come back from vaction.
And they've fucked the market for the next 30 years at least!
Wouldn't they just love to knee-cap Americans on July Fourth? So sorry, there's been a glitch/hack, come back Monday. Then Monday, so sorry- bank holiday!
Let it go to the moon. I hope it does. Parabolic. Let every capitalist, socialist, libertarian, conservative, liberal, religious, atheist, fascist, utopian, distopian, nihilist dream come true. Then maybe we can put this culture to bed and see what greets us in the morning.
I was thinking "Cousin Brucie" and Elvis actually cuz this market is all about the rock and roll.
Small caps still sucking wind all year which makes for an intriguing short term "poke" as the market might be regrouping here for a major move higher. It would be inflationary as the Fed is no longer squeamish about being openly "dual mandate." That adds risk to the debt market...on the other hand it adds reason to the small cap space as an inflation hedge.
Just talking off the top of my head so far.
Lyrics to Remember My Forgotten Job (Modification of song "Remember My Forgotten Man")
I don't know if I deserve a bit of sympathy
Forget your sympathy, that's all right with me
I was satisfied to drift along from day to day
Till they came and took my job away
Remember my forgotten job
You put a rifle in my hand
You sent me far away
You shouted: "Hip-hooray!"
But look at me today
Remember my forgotten job
You had me cultivate the land
I walked behind the plow
The sweat fell from my brow
But look at me right now
That Sinatra suggestion sure beats my nightmare:
Yellen crooning Morrissey's "The More You Ignore Me, the Dove-ier I Get", a freshly-picked gladioli bouquet clenched between her teeth . . .
Good thing its close to the 4th,,,,
I think my Fucking head is going to explode!
When will this BULLSHIT end????????????????
Just takes a big storm.
No better time than the 4th for a false flag (or maybe even a real) attack. Any bets on where it will happen? I have dibs on ChiTown.
It "ends" when somebody big doesn't get paid.
Not good news...stay off the coast line.
the vix and selling anything are the new buggywhips...
Ahhhh, VIXxxxx. I love VIX.
i'm a little disappointed that we are still waiting for Nasdaq 5k but it looks like that will be our labor day weekend gift
that long fonz, labor day?
all we need is a couple of 50 plus days which happens reguarly now, and since we know the nasdaq or any index can not finish red, all other days we may see only 15-20 pt gains, but it all adds up.
id say first week of august, but labor day at latest as u said
Even on the shortened trading day, they had to pump the close
Happy 4th to the believers of the greatest con in mankind's history
thanks!
always good to listen to MSM in prep for doing the opposite
http://video.foxbusiness.com/v/3656882115001/us-job-growth-tops-views-in...
this bullshit is incredible - GDP miss was a blip according to these fluff girls
Who needs hard cold facts when hope, fantasy, denial and sleight of hand can make the world fabulously wealthy and have each of us looking like Brad Pitt with a foot long shlong?
POTUS not once but twice cited jobs stats that are the highest "since 1999"... wonder if he'll have a presser and state largest drop in equities since FOREVER when the time comes.
markets have been up for 5 years
zero hedge been short for 5 years
9 people commenting here
makes sense why
May you be margined long to the gills and wearing cement shoes when...
"You're fired. Wall Street. Thank you have a nice day."
Just saying. The only way Dortmund in that world is to be on the long side as that's where the juicy "big money deals" reside. No surprise that the media is all on board this as they have a lot of deals they want to swing too.
It is amazing the market goes up "as if it can be just spoken higher" but these things have happened before (Netscape being a textbook example.)
Lots of ammo for a short squeeze here and the best place for a speculative blowoff top are the "little guys."
OK Cypher, keep enjoying the taste of that digital steak.
Absolute blowout winner
Yup. Buy!, buy!, buy!, you fucking anmeisac idiots.
I'll go out on a limb here and say the markets are going to get "bitch slapped"next week before going into earnings.
Ohh by the way, did all those GBP longs catch that services PMI miss last night? (75% of the U.K. eCONomy is services)
Germany is cracking, and Draghi has chewed through all his fingernails, and is starting on his toenails... He looks like a fucking albino orangutan trying to find his banana during his press briefings.
bank earnings have been a hoot for the past half dozen quarters. i cringed all through 2006 and 2007 when they announced the squid's earnings because they were so bloated you just knew someone was getting screwed (all of us as it turns out). now i just marvel at how much blood they can all squeeze out of that (loan loss reserve) turnip and no-one seems to care.
how come bonds never seem to "buy it" but then stocks NEVER FUCKING GO DOWN??
Third party intermediaries (caugh... caugh) Euroclear <> Belgium work wonders for laundering bond uptake and drawdowns.
Here's what's going to happen folks. Invisible inflation(Fed. adjusted) Re; energy and commodity costs will drive people into desperation.
Dow at $17K!! Time to party like it's 1929!!
Hmm. like Captain Edward J. Smith telling the titanic's engine room to goto 110% of the titanic's reactor, We need more speed! Just imagine it!
Scotty: "Captain, the engines cannae take much more of this,"
MOAR COW BELL!!!!
Just wait! Watch what happens when the FSA starts to march up north along I-95 and the Merritt Parkway. All of those bedroom communities will become minature copies of Mogadishu, Somalia after that. That is why I am getting my emergency Bug Out Service Systems consultency ready to make a lot of money. Have you ever been to Westport Connecticut? There are a lot of wealthy, famous people living there.
It won't matter,they all have bunkers in Vermont .
You greatly over-estimate the ability of lazy legs to carry 250-400 pound body-frames...
I wonder when the "Islamic State of Iraq and the Levant" swift .gov takeover manual is going to hit AMZN (Amazon)?
It's sure to be a "best seller."
I just had a thought...has anyone been able to take any significant money OUT of the markets recently?
Not the big guys, I mean smaller investors. Like, if you needed to get a couple grand out for something, is it easy? Or do you run into walls of resistance, fees, wait times, someone talking you out of it, etc?
Because it occurred to me that it would be a lot easier to keep an inflated market up if you could block access to the fire doors.
baaa-aaa-aaa humbug!
We can always trust the farmer to leave the gate open for us to graze.
He always makes sure we're safe!
Bot SPY calls at Monday's open........ Holiday weeks never down. Sold calls and puts at the close today...... got a feeling we are at the top of the first hill on the rollercaster.
why does anyone still play the "markets"??
wall street used to be a place for a business to raise capital when they could not finance from their savings and the banks thought it too risky
now, it is just a casino masquerading as a market....and the casino has access to UNLIMITED credit - you can't play and win against someone with unlimited credit....they will just keep raising their bets until they take all your savings and then some.
SEVENTEEN FUCKING THOUSAND!!!!
BREAK OUT THE BUBBLY!!
WE"RE ALL RICH!!!!!
WOOOooooOOOOoooooHOOOOooooooOOOOooooo
Easy money day. If employment comes out below expectations, it means more FED QE, hence stocks would be up. If it comes out above expectations, stock will be up because "recovery, bitchez"! :) It has become beyond pathetic.
When the POTUS is all in,the market will never go down.period end of subject. Um till he goes short?
medium-term trend more than 2 weeks less than 1 year: 224.20 = HVU 1/9.9 x SPY
last 2 weeks: 218.5 = HVU 1/9.9 x SPY
projections on 218.5 curve:
spy=190, hvu = 3.99
spy=170, hvu = 12
spy=150, hvu = 41.43
HVU last closed 2.62/share (tsx)
Wouldn't want to miss the fireworks on this one. Even if one were to limit cost to just what you'd have for a not-too-insane option contract (vxx call, spy put, whatever), say, $400 or less, one could probably still get 140 HVU shares for the same price & they don't expire like options do.