• GoldCore
    07/30/2014 - 18:58
    “But long term...and economic law says, if you keep printing a lot of paper money, the value of the dollar and currency will go down, and things and most prices will go up and indeed gold always goes...

Despite Fed Warnings, S&P And Dow Hit Record Highs But Russell Red Year-To-Date

Tyler Durden's picture




 

Since Janet Yellen started speaking yesterday, the USD has jumped most in 10 weeks to 1-month highs, Treasury yields have risen 5bps at the short-end but are unchanged at the long-end, Gold and silver are down 1%, oil up 1%, and copper -1.4%. In stock land, The Dow and Trannies are leading, S&P is unch, and Russell 2000 is not happy (-1.3%). VIX tested down to a 10-handle once again (but closed at 11.1). Credit markets remained far less excited than stocks today. Biotechs are down over 4.5% since Yellen started speaking and Social Media -1.2%. The Russell 2000 closes -0.8% for 2014.

 

US Equity markets are mixed post-Yellen - no bid for Russell 2000 stocks (despite every talking head dismissing Yellen's warnings)... Of course the big caps are surging to record highs as she gave them an all-clear...

 

The S&P has made it back into the green post-payrolls...

 

The momo names are still getting sold...

 

"Most Shorted" stocks remain lower post Yellen...

 

Credit markets do not seem to be buying the bounce...

 

VIX was slammed at the open to ramp stocks to record highs...

 

Treasuries are just as unsure of what to do since Yellen spoke - short-end is up 5bps as 10Y is flat to lower in yield...

 

FX markets were a one-way street of USD buying today (which helped JPY selling carry traders hold Trannies up).

 

Gold and silver were flat to slightly higher as copper tumbled and oil jumped on the day...

 

Charts: Bloomberg

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Wed, 07/16/2014 - 16:04 | 4964086 NOTaREALmerican
NOTaREALmerican's picture

I'm Yellin' for Yellen!!!

Wed, 07/16/2014 - 16:08 | 4964100 LetThemEatRand
LetThemEatRand's picture

Fuck it.  I'm going to sign up for a lifetime subscription to Jim Cramer's newsletter, stick an Obama sticker on my car, and put my entire portfolio into Facebook.    They win.

Wed, 07/16/2014 - 16:15 | 4964123 flacon
flacon's picture

The worst part is knowing that the intellectuals will blame "Free Market" Capitalism for the coming crash - and demand even more central planning.

Wed, 07/16/2014 - 16:20 | 4964150 NOTaREALmerican
NOTaREALmerican's picture

Not just the "intellectuals".   Not many people want to complete, lose, and DIE.   If the "Free Market" capitalists had some plan for what to do with the worthless losers, maybe they could offer up an alternative.   But, in my lifetime, their answer is always the same:   "Survivial-of-the-fittest, BITCHES.   Suck-it-up and DIE.   And take your loser genetically worthless children with ya.   (then a big laugh)"

 

Wed, 07/16/2014 - 16:44 | 4964226 ENTP
ENTP's picture

DHS has a plan for what to do with the worthless losers...

Wed, 07/16/2014 - 16:48 | 4964252 NOTaREALmerican
NOTaREALmerican's picture

But, that's what's wrong.   The liberals always have a "solution".   Why don't the "free market" capitalists have a plan for the worthless losers?  (Other than killing them I mean). 

Wed, 07/16/2014 - 17:08 | 4964355 ENTP
ENTP's picture

Well, lets evaluate our options.  We are dealing with worthless losers, we can either:

1.  Throw money at people that are bad with money (this will ultimately end in national bankruptcy),

2.  Not spend money and let them fend for themselves, some will make it, some won't.  It's time for some adults to enter the Big Boy World or GTFO.

Wed, 07/16/2014 - 17:15 | 4964386 NOTaREALmerican
NOTaREALmerican's picture

It might be time for the "free-enterprise" adults to admit the bottom 50% have always been food for the top 50%.   Which leaves two options:

1) Leave it to the liberals to come up with all the "solutions".

2) Act surprised when the bottom 50% are at-least smart-enough to know they don't want to die.

Wed, 07/16/2014 - 17:28 | 4964450 lordylord
lordylord's picture

"Leave it to the liberals to come up with all the "solutions"."

Funny how the "solutions" always make the problem worse and also always take away individual liberty.  No thanks. I'd rather take my chances in a free market if I can ever find one.  Too bad Statist assholes on the left and right don't have much confidence in their ability to provide for themselves and their families. 

Wed, 07/16/2014 - 20:13 | 4965062 combatsnoopy
combatsnoopy's picture

Not one, but MANY companies started/owned by entertainers (ie. Justin Timberlake) LOST mucho investor American dineros during the subprime collapse and went into "branding", cut their staff in a fourth and like you know... pay law firms for protection against investor law suits to the tune of $25,000-40,000/month and can't afford accountants.

Before then, the $400 lunches + party favors to schmooze constituents to do business with you was no longer a tax write off. 

THe trouble is that SOMEHOW...  they still have lobbying and influential power in Los Angeles and California through philanthropies in the form of 527 and other ghoulish things.  

I wonder how long it takes them to end up like Mick Jagger's latest Ex (who lost some of his $300 million on her own busienss before she was murdered).  

Political donations from the liberals in JP Morgan muni funds suctioned dry California comes from.....527s and a sheet of Jimi Hendrix.   There are also chemomiles that you can smoke sold at the Lazy Acres store!  

Wed, 07/16/2014 - 20:16 | 4965082 combatsnoopy
combatsnoopy's picture

But fear not!  The UK gives mucho tax Euro and sterling dinero breaks for investments in entertainment.  Which would be Hollywood.  
So, like- Hollywood sucks the Queen's toes.

And she doesn't know what collateralizes carbon credits either.

People who can't budget are letting the Queen do it for them.  And the very thought of that is frightening as it will cost the citizens of the UK $2 million/YEAR to clothe her grandson.  

Wed, 07/16/2014 - 19:17 | 4964881 LooseLee
LooseLee's picture

'Free Market' Capitalism is but a figment of your (and all on Wall St/Washington) imagination. If there was a 'Free Market' the indexes would be 75% lower and gold/silver would be 100% higher. There is only PINKO COMMIES and Fascists...

Wed, 07/16/2014 - 16:20 | 4964151 LetThemEatRand
LetThemEatRand's picture

I'm sure you're right, but I'm busy hanging up a picture of Hillary in my office, right next to the motivational posters.  

Wed, 07/16/2014 - 16:48 | 4964254 sof_hannibal
sof_hannibal's picture

invenstment banks will certainly need more bailouts-- if that's central planning, give me more...

Wed, 07/16/2014 - 20:01 | 4965031 combatsnoopy
combatsnoopy's picture

Well more central planning is now possible since Prime Minister Abe for Mrs. Wantanabe just bought more U.S. Treasuries and Mrs. WantanABE just bought more AUD.  Possibly.  

I'm still waiting for Mr. "Citizen of the World" to hedge our purchasing power in OPEC's basket of currencies since, like the like intellectuals like know their shit and stuff.   You know, for sure! 

Wed, 07/16/2014 - 20:05 | 4965040 combatsnoopy
combatsnoopy's picture

I now live down the street from Al Gore.  Well not within walking distance... but close enough to Montecito where he lives in this posh Italian 6 fire place mansion by the rising sea levels. 
Shall I request his used toilet paper signed over to you?
It's almost a collector's item with the Rainbow Gathering.  Not that they have any money- but liquid doses and nitric gasses in balloons for bartering power.   This was long before Bitcoin replaced the gift cards.   

Wed, 07/16/2014 - 16:09 | 4964104 yogibear
yogibear's picture

It's all noise. Keep on buying.

- Wall Street

Wed, 07/16/2014 - 16:50 | 4964258 sof_hannibal
sof_hannibal's picture

haters gonna hate

Wed, 07/16/2014 - 16:29 | 4964176 disabledvet
disabledvet's picture

It's the mega cap names that scare more than the 1000 p/e "we've at least got a plan" micro stocks.

What was that line of Tom Cruise in the movie The Firm when he's trying to get from under being the mob lawyer? "I hate to be the one to inform you of this but there's been a huge billing error by my employer."

I think the only thing left of our recovery right now is a 400 billion dollar contract to build a fighter jet and "back orders."

This will sound strange...but it sure worked in the 70's..."when inventories exploded higher people had more confidence to invest." That didn't mean we didn't have some big time sell off's...but 73-74 was the total annihilation of the "nifty fifty" not the Russell.

Wed, 07/16/2014 - 16:29 | 4964177 Keltner Channel Surf
Keltner Channel Surf's picture

Call me crazy (100s of doctors have :) ), but I’m convinced that, though Yellen’ll get the credit, overall small caps via the Russell were technically ripe for a run past the 50 DMA toward the 200, after a ludicrous nonstop post-‘correction’ short-fueled pop (yes, hedgies reported being big short RUT) from mid-May through early July.  The recent 2-week dip to the 50 MA, then bounce back to the 20 MA is where shorts re-loaded for another run down to try for the 200.  Yellen changed the slope a bit, but not this week’s destination, IMO.

Wed, 07/16/2014 - 16:35 | 4964193 bescobar
bescobar's picture

We're going to to hit 20000 before the end of 2014. Obama and Holder for another term. Hell, lets just  keep them there for 20 or 30 more years. The market might hit 100000. Damn, I'm rich!!!!

Wed, 07/16/2014 - 16:36 | 4964196 world_debt_slave
world_debt_slave's picture

will go the way of wha'ts his face

https://www.youtube.com/watch?v=otCpCn0l4Wo

Wed, 07/16/2014 - 16:48 | 4964228 Squid Viscous
Squid Viscous's picture

wait, credit markets not buying the bounce AGAIN? so at some point the equity market will correct about 15- 20%, since this is about the 20th time i've heard that on ZH in the last few months... maybe tomorrow? simplistic, I know but the SAME FUCKING SHIT HAPPENS almost EVERY FUCKING DAY 

Wed, 07/16/2014 - 16:46 | 4964236 CheapBastard
CheapBastard's picture

I'm guessing this is 'Bullish'?

Wed, 07/16/2014 - 16:46 | 4964245 sof_hannibal
sof_hannibal's picture

to the moon. this market will never go down. look at it. so hot right now and forever. buy buy buy. America.

Wed, 07/16/2014 - 17:05 | 4964335 Rehab Willie
Rehab Willie's picture

Calamity Janet to the rescue yet again.

Wed, 07/16/2014 - 17:25 | 4964441 dogfish
dogfish's picture

I dont care one bit what happens in the alleged markets i would not trust Wall st. to handle one red cent.

Wed, 07/16/2014 - 17:50 | 4964557 pragmatic hobo
pragmatic hobo's picture

it will be interesting to know how many stocks in spx, dow, nasd, nyse, and russell have buy-back plan, ... perhaps then it will  make sense why russell is in the red.

Wed, 07/16/2014 - 18:01 | 4964585 Bunga Bunga
Bunga Bunga's picture

Talking didn't work, so maybe she should be dancing naked on a table next.

Wed, 07/16/2014 - 19:53 | 4965003 combatsnoopy
combatsnoopy's picture

combatsnoopy is covering her ears and eyes and singing, "lalalalaaaah"

Nekkid boomers.... YuCK!!!  
You can always see that at Bay to Breakers.  But please, dear God...think of the children.   

Wed, 07/16/2014 - 18:53 | 4964792 MeelionDollerBogus
MeelionDollerBogus's picture

Still clocking in with HVU 1/9.903 x SPY=218 or so with the trend more around 220.

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