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VIX Slammed Under 12, S&P To Record Highs As Yellen Starts To Speak
UPDATE: Stocks have roundtripped again since she started...
Having oscillated in a wide range immediately after the FOMC statement's release, stocks have decided that up is the way to go and the S&P 500 just hit new all-time record intraday highs (helped by a VIXnado collapse under 12 and surge in USDJPY). Treasury yields are higher, USDdollar is higher (but fading back from its initial spike), and gold and silver and unchanged.
VIXnado
Quite a swing though - driven by Futures - immediately after the statement...
as AUDJPY takes over again...
As FX exploded...
Currencies at 2pm - this one is neat pic.twitter.com/umohg0Vaif
— Eric Scott Hunsader (@nanexllc) September 17, 2014
But The USD has roundtripped...
Charts:Bloomberg
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More predictable than a sunrise in the morning. Or the Nobel Prize Winner droning poor, brown people.
Criminality has been institutionalized in the land of the free
Shut up and eat your ebola.
Looks like it's a V1.
Or more like a long tailed funnel.
Let me make this easy on everyone.
First move is a headfake.
Second move is stawks go higher.
Second' move is gold goes lower.
Any questions?
Yeah, I have a question... which way does silver always go?
There is no possible reason for rising dollar and stocks together on this news, except that the politburo wants it that way.
Central Bank Rebates, ESF?
WTF
WTF is up with the Yen. 108 to the dollar? How can two major trading partners fluctuate by 8, 9% in total value in three months. How do you manage trade relations with this garbage? I guess that's why Honda is making their Fit in Mexico instead of Japan...
You feel that tingling? That means it's working.
Abenomics, baby. He wanted inflation and he got it, but only via Yen carry trades not domestic wage increases. So the Japanese pay more for everything they must import (*cough* energy *cough*) while the purchasing power of the average citizen goes down. On top of that, you add a new consumption tax. That's one heck of a policy, no?
I still can't believe we haven't seen a single-digit VIX yet. I would have bet almost anything we would have over the summer.
CENTRAL COMMAND at NSA headquarters in conjuction with all Primary Dealers took over immediately
Rates have nothing to do with real economy.
Rates have everything to do with $1.4 quadrillion derivatives that Primary Dealers and major players like Warren Buffett, Bill Gross etc have sold
http://www.bloomberg.com/news/2014-09-17/bill-gross-used-45-billion-deri...
I think there's a solid floor at zero.
I thought the same thing about interest rates, and I was wrong.
We might was well start measuring vix using imaginary numbers, since it's already an imaginary number.
listen to Yellen's speech....she can't lay out the plan any clearer:
Economy improves = less stimulus; higher FF rate
Economy weakens = more stimulus
"GRADUAL AND PREDICTABLE"
Pretty simple stuff here people
And how do we judge whether the 'economy' is strengthening or weakening? The phony gubmint numbers?
That's easy, if hell freezes over then you'll know that the economy is strengthening. Otherwise, it's weakening.
Whatever, QE is never ending and rates are never going to rise. We'll see the ISIS spectacular attacks instead, got to keep the sheeple properly frightened and submissive.
Dump hammer keeps coming back to revisit PMs but they are holding on... for now.
Shanghai 'physical exchange' opens tomorrow. So that will be disappointing for goldbugs, when nothing happens as a result.
Yeah but are there any bugs left?
784 tons in GLD. Must still be a few. Check this out by the way
http://www.reuters.com/article/2014/09/17/us-gold-technicals-idUSKBN0HC0ZI20140917
Note the very explicit instruction to sell from 'Nicole Elliott, technical analyst at ForexTrading.Tv':
"If you're sitting in a gold fund, or a perma bull, you just can't sit there... You have to say, enough's enough."
So, the technical analyst is saying the bottom is in? I'm OK with that.
Dump hammer wins.
???
S&P ATH 2011.17 on 9/4/14 at 11:04
Two certainties following any FOMC statement:
1) Stocks and USD to the moon, and
2) any investment in anything with instrinsic value, to the basement.
Yes, I know: It makes no sense to me, either.
That's why I short miners on the morning of the FOMC. Free money, like betting on the sun rising in the morning.
Yellen's a fat lady, is she fucking singing yet?!
"Heil Yellen!"
There is no end until the black swan arrives. We will blame the swan, not the ones responsible. We are in no shape to endure even the weakest black swan.
We couldn't even withstand a pale chicken.
Look....there are a lot of fcuking morons on here...QE is ENDING...the FED are done with QE and their balance sheet is going to stabilise at/around current levels. This is what is driving the $ index higher...as ECB and BOJ's continue to expand. It's not fcuking hard to understand......The FED are a long way from raising the price of money however...that is why Equities in particular (and risk assets in general) have not yet repriced....
want a good laugh . go back and look at all the long winded, chart filled, garbage posts that were put HERE saying gold was a buy.
those pimps are all back to selling ladies shoes.
Just as every "market" in the US is currently rigged, so is the reaction to Fed pronouncements. Why do we pay attention to institutions such as the US government or the privately owned Federal Reserve? When they speak they are either outright lying, or obfuscating. Often the lies are perfect inversions of the truth. They are repeated mantra like untill focus group testing indicates they have been accepted as gospel by enough of the public. Heap ridicule and scorn, nonstop, on these entities and their spokespersons. Deny in every way their legitimacy. We must declare war on mendacity, whether it is a local sheriffs department employing it, or the US CONgress or the executive branch. IT IS UNACEPTABE. Adopt that as your personal creed.
The enemy doesn't kill you, just neuters you and keeps you in a cage.
That's the Amerikan stock market and population policy, in a nutshell.
Find a different game, boys. Sitting and beetching on message boards is not going to cut it.
Love that FX chart!
The McClellan charts are doing weird gymnastics too, and it's just what we've seen for a year now, Yellen's knees clamping shut on volatility while goosing the indexes ever higher. And she plans to hold this pose for the next five years as she ramps down QE and ZIRP. Someone should carve her in marble like that, if this works.