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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world_debt_slave's picture

green shoots sprouting everywhere

Headbanger's picture

WTF!??

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

Need moar Ebloa scare the shit out of em stories!

Sudden Debt's picture

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

Headbanger's picture

Great idea!

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

Dr. Engali's picture

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

disabledvet's picture

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

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

 

 

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. 

PlusTic's picture

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

Winston Churchill's picture

I would not bet on that.

Feels like 1987 to me.

wallstreetaposteriori's picture

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

Winston Churchill's picture

I was talking about the lead up.

No recovery from this one, and no way out.

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").

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

slightlyskeptical's picture

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

FuzzyDunlop21's picture

I believe its called 'tongue-in-cheek'

Dr. Engali's picture

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

Pairadimes's picture

If denial had a color, it would be green.

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...

greatbeard's picture

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

TabakLover's picture

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

LawsofPhysics's picture

Today's mantra at the TBTF PDs...

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

syntaxterror's picture

401k money automatically deducted from paychecks got invested today. 

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.

optimator's picture

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

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.

 

 

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

gmak's picture

also friday's high at 1932.50

atomp's picture

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

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 . . .

jubber's picture

Dow futures have now bounced 100 points from the overnight low

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.

FieldingMellish's picture

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

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"?

 

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

jubber's picture

Oil however moves up

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!

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. 

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.

vyeung's picture

banksterism at work nowadays.

I Write Code's picture

Totally and entirely managed.

DWFX's picture

what a suprise the market is back up.