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Stocks Rally Back To Green For August

Tyler Durden's picture




 

Stocks have given up JPY-carry momentum and fallen back to the old VIX-smashing algo (back under 16) to run stops above Friday's highs. This morning's dip has been bought (on notably low volume) and lifted the S&P, Nasdaq, and Russell 2000 back into the green for August (Trannies and The Dow remain laggards). 10Y Yields are unch, the USD Index is unch, gold is down and oil is up. Perhaps, US investors have forgotten that Europe opens again in 12 hours...

 

 

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Mon, 08/04/2014 - 13:57 | 5044719 world_debt_slave
world_debt_slave's picture

green shoots sprouting everywhere

Mon, 08/04/2014 - 14:04 | 5044758 Headbanger
Headbanger's picture

WTF!??

It's only been ONE FUCKING TRADING DAY since July!

Need moar Ebloa scare the shit out of em stories!

Mon, 08/04/2014 - 14:06 | 5044773 Sudden Debt
Sudden Debt's picture

I just wish ISIS would blow that dam and torch some oil wells...

Mon, 08/04/2014 - 14:08 | 5044782 Headbanger
Headbanger's picture

Great idea!

It could be just the thing to stop Ebola from spreading there too!

Mon, 08/04/2014 - 14:32 | 5044910 Dr. Engali
Dr. Engali's picture

YES! Moar loss of human life! Just what the market needs for a good rally.

Mon, 08/04/2014 - 14:09 | 5044783 Winston Churchill
Winston Churchill's picture

A dead bat  bounce ?

Mon, 08/04/2014 - 15:56 | 5045317 disabledvet
disabledvet's picture

Not politically correct to say but an Ebola outbreak does have economic ramifications.

Tue, 08/05/2014 - 00:10 | 5047572 waterwitch
waterwitch's picture

From a nail gun no less.

Mon, 08/04/2014 - 14:21 | 5044854 Whootie_who
Whootie_who's picture

I will take "European moral hazard" for $100, Alexit is nice to hear that GS got rescued by the German taxpayers.... again

 

 

Mon, 08/04/2014 - 15:56 | 5045310 theonewhowaskazu
theonewhowaskazu's picture

Why in the world do you expect the market to go down. The FED can keep printing remember? If anything it should be much higher, no matter the news. 

Mon, 08/04/2014 - 13:58 | 5044725 PlusTic
PlusTic's picture

Correction is over...2 fukking lousy days of selling...what a farce!

Mon, 08/04/2014 - 14:17 | 5044827 Winston Churchill
Winston Churchill's picture

I would not bet on that.

Feels like 1987 to me.

Mon, 08/04/2014 - 14:25 | 5044880 wallstreetapost...
wallstreetaposteriori's picture

the 2014 crash will be deeper than 87...  it will be like the 29 crash but in a day.

Mon, 08/04/2014 - 14:47 | 5044968 Winston Churchill
Winston Churchill's picture

I was talking about the lead up.

No recovery from this one, and no way out.

Mon, 08/04/2014 - 14:01 | 5044740 101 years and c...
101 years and counting's picture

"markets" rallying because europe is opening in 12 hours.  bailouts are great for "markets" because they fuck over the bottom 80% (those not in "markets").

Mon, 08/04/2014 - 14:01 | 5044742 John McCloy
John McCloy's picture

Ehh..nobody cares anymore. Law of diminishing returns...it gets expensive buying stocks at these levels with digitized money.
Up and away...till it's all over

Mon, 08/04/2014 - 14:02 | 5044750 slightlyskeptical
slightlyskeptical's picture

Only the second day of August. Is the WWE writing these value reducing headlines?

Mon, 08/04/2014 - 14:15 | 5044817 FuzzyDunlop21
FuzzyDunlop21's picture

I believe its called 'tongue-in-cheek'

Mon, 08/04/2014 - 14:08 | 5044752 Dr. Engali
Dr. Engali's picture

BTFEVMECFUMD. Buy the fucking ebola virus, middle east clusterfuck, Ukraine mess dip.

Mon, 08/04/2014 - 14:05 | 5044759 Pairadimes
Pairadimes's picture

If denial had a color, it would be green.

Mon, 08/04/2014 - 14:36 | 5044927 atomp
atomp's picture

LSHIC!

Mon, 08/04/2014 - 14:07 | 5044777 The Phallic Crusader
The Phallic Crusader's picture

it's about 2 now - a few more hours for some more ebola/isis/ukraine news and a regression. 

 

what about FX?  It's a bunch of cats and dogs living together out there...

Mon, 08/04/2014 - 14:09 | 5044793 Headbanger
Mon, 08/04/2014 - 14:07 | 5044781 greatbeard
greatbeard's picture

Gold is down?  This must be 2014.  Or 2013.  Or 2012.

Mon, 08/04/2014 - 14:10 | 5044790 TabakLover
TabakLover's picture

SP down 4 straight days (-55), then bounces 8?...... and today is not over. Hardly a rousing comeback.

Mon, 08/04/2014 - 14:12 | 5044799 LawsofPhysics
LawsofPhysics's picture

Today's mantra at the TBTF PDs...

buy everything (with other people's money of course)

Mon, 08/04/2014 - 14:13 | 5044805 syntaxterror
syntaxterror's picture

401k money automatically deducted from paychecks got invested today. 

Mon, 08/04/2014 - 14:15 | 5044814 icanhasbailout
icanhasbailout's picture

this post just top-ticked the post-bottom-tick-post reversal

 

I think we have a working theory here. Give me until tomorrow morning to make some big bets, then come out with a screamingly negative headline post please.

Mon, 08/04/2014 - 14:42 | 5044948 optimator
optimator's picture

If a time machine is ever invented the Hedge Funds will..........is there a chance a time machine already exists?

Mon, 08/04/2014 - 14:20 | 5044849 gmak
gmak's picture

there are buyers. Tight short-stops were run but se're seeing sellers come in at the top of the value area. Jumbo stocks repsonsible for a lot of move. Institutional money going to work?

Watch where we close. If above SPY = 193.55 then, yes, drop is over for now.

 

 

Mon, 08/04/2014 - 14:26 | 5044886 gmak
gmak's picture

/ES = 1924.50 is key support now for the intra-day.  If it holds then rally will likely continue. Otherwise, tone remains bearish. Key resistance above is at  /ES=1929.50

Mon, 08/04/2014 - 14:39 | 5044940 atomp
atomp's picture

1929, nice.

Mon, 08/04/2014 - 14:41 | 5044946 gmak
gmak's picture

also friday's high at 1932.50

Mon, 08/04/2014 - 14:47 | 5044970 atomp
atomp's picture

<Al Czervik> All right. Place your bets! Place your bets!

Mon, 08/04/2014 - 14:33 | 5044914 Keltner Channel Surf
Keltner Channel Surf's picture

Felt a bit dirty so soon after closing a morning short and after last week’s “carnage”, but I did a small long Russell trade, as RUT vol was getting sold like nobody’s business since 11:00, an Olympic ski slope.  R2K’s hanging at levels where it should normally turn back down, but if they continue the VIX Vapo-Slam, Friday’s highs aren’t out of the question. Only half the normal IWM and TZA volume thus far, allowing instigators an easy ride up, should they so choose, the evil bastards.  If it’s just to reload for another leg down later, well, then perhaps we can forgive them . . .

Mon, 08/04/2014 - 14:44 | 5044957 jubber
jubber's picture

Dow futures have now bounced 100 points from the overnight low

Mon, 08/04/2014 - 14:55 | 5045001 Keltner Channel Surf
Keltner Channel Surf's picture

Yikes.  But given the moderate volume, I wonder if it's less from BTFD-ers and more a “selling vacuum” for the larger houses, who unlike us can afford to trade off of daily charts, waiting for a more favorable level to re-short the crap out of everything.  Hope they’re not targeting the 20 DMA on RUT or SPY, as that would be quite a hellacious bounce.

Mon, 08/04/2014 - 14:55 | 5044993 PlusTic
PlusTic's picture

Ripfest!

Mon, 08/04/2014 - 14:59 | 5045015 FieldingMellish
FieldingMellish's picture

The world is at peace and all economic problems have been solved.... right?

Mon, 08/04/2014 - 15:03 | 5045023 Bernoulli
Bernoulli's picture

How is it possible that DJIA and S&P 500 charts look EXACTLY the same?

Like copy and paste.

Doesn't it mean that on "no news" there are no more humans involved in this "market"?

 

Mon, 08/04/2014 - 15:22 | 5045108 thismarketisrigged
thismarketisrigged's picture

how fucking amazing.

 

today the markets were as flat as a pancake the entire day, and then all the sudden ''investors'' come in and buy because everything is so fucking awesome.

 

i guess kevin henry came to work late today, but at least he showed up

Mon, 08/04/2014 - 15:24 | 5045119 jubber
jubber's picture

Oil however moves up

Mon, 08/04/2014 - 15:24 | 5045126 Bernoulli
Bernoulli's picture

Oh and PCLN is up 4.5% on the amazing news that _ _ _ _ _ _ _, _ _ _ _ _ and also _ _ _ _ and then they _ _ _ _ _ _!

(Fill in the blanks with whatever you like, because nothing happened).

BUY BUY BUY!!! PRICE TO EQUITY ratio (or was it earnings? or what does the "E" stand for again?) is only 34.71. That sounds like there is a lot of room to the upside! No POCKETS of stretched valuations here!

Company is now worth 68 billion USD.

3 billion USD more than this morning.

THREE FUCKING BILLIONS in one day!

Mon, 08/04/2014 - 15:30 | 5045152 nosoeawe
nosoeawe's picture

the white haired gremlin simply can't allow the market to correct because a correction will lead to a crash. she can't allow the market to crash because the feds are out of bullets. when they start buying their own worthless IOUs via Belgium, you know they reached the end of the road.

however, in order not to visualize their incompetence, the illusion of a healthy economy and stock market is mandatory. Especially when the terrorist in the white house has absolutely nothing else going for him/her whatever. 

until that carp eyed dumb bitch yellen has a stroke, any semblence of a fair market with true price discovery is completely out of the question. 

Mon, 08/04/2014 - 15:36 | 5045189 vyeung
vyeung's picture

the stock market is just a sham now. Complete and utter joke. Look at it before closing. Pathetic.

Bond market is even worse.

Mon, 08/04/2014 - 15:37 | 5045201 vyeung
vyeung's picture

banksterism at work nowadays.

Mon, 08/04/2014 - 18:35 | 5046257 I Write Code
I Write Code's picture

Totally and entirely managed.

Mon, 08/04/2014 - 19:43 | 5046553 DWFX
DWFX's picture

what a suprise the market is back up.

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