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Nasdaq Surges Back To March 2000 Highs
The lack of World War 3 this weekend was the perfect catalyst for buying stocks back up towards record highs... because Putin must have folded, right? Oil prices slipped, with WTI briefly back under $96, which lifted Trannies 1.75% on the day (best performer) but the Nasdaq's break of cycle highs (to March 2000 highs) is the big news for bubble-watchers (though it's different this time remember). VIX broke back below 13 to almost a 4-week low close. Treasuries were weak all day especially after Europe closed with the long-end underperforming (30Y +6.5bps) - 3rd worst day of yeasr for 30Y - with yields rising back to Russian convoy "destroyed" headline levels. Gold dropped back under $1300 as silver rallied 0.5%. S&P futures volumes were 40% below average as AAPL flash-crashes but has almost round-tripped to 2012 highs.
Look away...
Stocks soared on strong fun-durr-mentals...
Stocks have recovered all Russian Convoy headline losses... and pushed on to new cycle highs...
On the day, Trannies were best... Russell 2000 is almost back to unch for 2014.
Lots of excitement about NFLX's move today but some context suggests the it was all a huge squeze at the open today (again)
The stock-bond divergence remains but bonds backfilled the Russian Convoy headlines from Friday...
As the Treasury complex saw yields higher and steeper... accelerating higher in yields after Europe closed...
FX markets saw urgent USD needs at the US open... but aside from that - flat...
Gold dropped back under $1300 as silver rallied...
Charts: Bloomberg
Bonus Chart: AAPL flash-crashed today but managed to get back to almost $100 (100.72 from 9.21.12 is all time highs).
Bonus Bonus Chart: The Dow perfectly bounced 61.8% of the drop from July...
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full retard! as the convoy attack and MH-17 and... ___ stuffed down the memory hole...
This "market" is embarrassing.
Yeah i gotta stop shorting this shit
and start buying the fucking dips.
the dip i did buy... but then shorted them again .... remember you are supposed to sell the big numbers...
incorrect - zerohedge is
todays market may have been the biggest joke of the entire year so far.
futures were up sharply from early this morning for absolutely no reason whatsoever, the ''market'' surged from the start and never looked back for absolutely no reason.
i did not even here bullshit rumors that would prop this market up, just somehow, europe and the u.s were all pumped up for zero reason whatsoever.
i do not know if this shit will ever end, i really dont.
about a minute after they opened Sunday night (london time) they ran to be up 7 ... and as you say... never looked back. Unreal. I can only think that the government/fed is buying them cause every time they get to a critical level they are bought agressively.
It tells you everything you need to know that people panic on ANY sell off. They all know this is fluff, they all know its fake... everyone is renting this market, and no one wants to own it at the all time highs.
Does this remind anyone of the pre-July 4th holiday week, when stocks relentlessly ramped from a swing low through the last half-day, then dropped like a rock when everyone was back from vacation on the 7th (?)
In this case, the we-go-up-whenever-Janet-talks-or-is-about-to-talk algos might be in their full glory the whole week ...
I thought the March 2000 high was 5048 or some such number?
you are correct .... i think Bernie M might have been running it back then but I'm not sure
Yes, then Uncle Dick Parsons decided AOL was a good fit for Time Warner at whatever the absurd merger price, and people got out their calculators, and said wtf?? then all this other crap is even MORE overvalued, and POP !
I knew that dip wouldn't last long enough. Barely 4% and it's too the moon again.
There is no stopping this beast of a market until it has a coronary on its own.
It keeps going up until somebody big doesn't get paid. Everybody is getting paid, so why would the market go down?
This market is so fucking predictable that Jom Cramer almost made a profit in it.
Maybe this is just the riot effect.
It's a riot all right. "Darn near a war!"
If the market collapsed and we got peace I'd take a market collapse.
March 2000....March 2000...
Hmmm...
Viagra rally, woke up with a big woody and it lasted more than six hours.....Better go see the Doctor.
Doctor will prescribe more sex.
Yap looking like March 2000 all over again Ebworthen
I'll be dammed .. that BTFD thing is still working.
Meanwhile, the BALTIC Collapses even lower than 2008.
http://investmenttools.com/futures/bdi_baltic_dry_index.htm
cramer was pimping the BDI this morning, back over 1000 means something really BIG is happening in China and nobody gets it!!! lol...
We had a nice brunch in Lafayette CA yesterday. Driving 15 minutes down 24 from Concord it was like entering another world, a world full of tall blondes toting infants. I think peeps around here are feeling pretty flush since their RRE has rallied something like 30% in the last 18 months. The Bay Area is high on its own supply, feeling untouchable. 8 days ago I was in Peoria, Illinois noting the reflux of honkies from all quarters south of Glen Avenue and the new NO HANDGUNS signs on the Chik-Fil-A and Bob Evans restaurants.
Very different worlds out there.
It's about fucking time.
Looking to enter short positions via SPY long puts. The 1989 high held for a time and then market gave back over 100 ES points. As expected its ripped higher again. If I had to take a guess I believe market will break 2000 and march for new highs possibly 2050 to 2100? On a technical level the market is overbought and due for a real correction.
Why would it go to 2100? on a fundamental level this market is overbought!!
On a fundamental level this market is rigged ....so are the accounting 'standards'
make sure they are Jan 2016 puts, and then go on long vacation like until mid 2015... will be a great trade
It's a good time to buy stocks folks
Buy Dec 2014 puts, that should make for a nice X'mas present by christmas. Bulls will wonder where the halloween indicator went.
The higher the stock market goes, the more it proves we're not a rayciss nation. To let it crash, would simply be, rayciss.
29trillion IMF "money" can do magic.
To say the market is rigged is an understatement. After over 30 years of trading commodities I will flat out state without any reservations that lies and manipulation run rampant. If you think anyone is looking out for the small independent trader you are wrong. An unholy alliance of the Federal Reserve, the government, and the too big to fail has left the rest of us in a precarious position.
For the big boys, its insider information and computer trading, this includes computing patterns that exploit where stops are placed, this improves their ability to wash the weak out of their positions. The bottom-line is that the higher the market goes the more vulnerable it becomes to a major collapse and sudden downward move. More on this subject in the article below.
http://brucewilds.blogspot.com/2013/07/markets-more-lies-and-munipulatio...
it's the work of yellen