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Schizophrenic Small Caps Surge By Most In 3 Years, Day After Plunging
The S&P swung 44 points from low-to-high today as panic-buying lifted stocks vertically on the back of an utter VIXtermination (from over 18 to under 15). Nasdaq surged over 2.5% from its lows before FOMC Minutes - the biggest swing since May 2012 (and biggest daily gains in a year). 10Y Yields closed at 2.33% (2.3249% lows) - the lowest since June 2013. The TSY curve steepened dramatically post-FOMC with 5Y now -18bps on the week and 30Y -7bps. The Dollar fell for the 3rd day in a row (-1.6%) - its biggest such drop in 15 months. Initial weakness in commodities was wiped away post-FOMC leaving Silver +3.3% on the week (Gold +2.3%). Oil saw no bounce closing at April 2013 lows (WTI below $87.50). The S&P and Dow managed to get to green on the week in the last few minutes (only the S&P held it into close). So in summary: FOMC Minutes sent Stocks Up, Bonds Up, and Gold & Silver Up; VIX down, USD down, and Oil down.
The Russell 2000 jumped over 3% off its intrday lows to the close - that is the biggest swing since Nov 2011...
As "Most Shorted" Stocks were face-ripped all the way... it appears the squeeze began before the Minutes were released...
Today's epic ramp brought to you by AUDJPY...
And VIX...
The Russell 2000 rose almost 3% off its EU-close lows today...
This was Nasdaq's biggest day in a year and biggest intraday low to close swing since May 2012...
But since the last FOMC statement, stocks remain red...
Post September FOMC: Treasuries are still the best performer, S&P is down (as is gold) and the USD is up 1.5%
On the week, it seems today's mega ramp was all about getting the S&P green...
Bonds and stocks entirely decoupled (30Y is 10bps lower in yield than the last time stocks were here) - as The Fed (seemingly) said Buy it all...
Tresasury yields collapsed post-FOMC (and bull-steepened)
The Dollar was punched down for the 3rd day in a row... most sellinmg pressure coming in the US session...
USD weakness helped commodities (except oil)...
Charts: Bloomberg
Bonus Chart: Will USDJPY rally in the Asia session or NKY fall?
Bonus Bonus Chart: What Happens Next?
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It's nice to know that the "bear market" is over now, and we can go back to buying steaming bullshit when it dips, because we know it will rally the next day. It might be shit, but its GOOD shit! It has only been a weeks, but I am already getting tired of having to think about my "investments."
Kevin Henry's joystick setting is clearly way too sensitive.
Finanshil stabiltee in Idiocracy basd on goodest in4mashin.
SLW was up 8% today. It just kept on going up, up, up, up.
Didn't get any of it.....sleep at the wheel
Just more evidence that it is all coming unglued and that Central Planning cannot control everything, there are too many moving parts.
Suggestion to Yellen: If you want a weaker Dollar STOP MANIPULATING GOLD.............
No markets, only interventions. Undoubtedly the greatest quote of the early 21st century.
Yellen to ZH ---- Im winning bitches!
I hope you all are seriously prepping now. This has become a total shitshow beyond any drug induced imagination
This was etf of the day and there was not anyone even close in the competition
http://finance.yahoo.com/q?s=dust
So maybe the Feds exit plan is to.........?
war, ebola and/or apply jackboot to face as needed.
This is example #1 of why you need to be in the market when news is announced. Play safe but don't expect to catch the horse once it bolts
Fuckin' knob.
youre to old fat man
get the fuck off my porch
I'm to what? Why do I have to old fat man?
we do not discuss project mayhem fat man
You'll never be as good as Robert Paulson, bitch.
seems like a real tool - but bottom line is he's right, anytime these Fed kikes have something to say (minutes, FOMC, etc.) the market rips, 9 times out of 10, why fight it
For the last 6 years, the Fed has had no tolerance for even a 3% market decline. Every minor drop is met with more talk of unlimited free money. That they are that beholden to the market doesn't say good things about the condition of the underlying economy.
This is only about one thing. To keep the economy growing, they have to create accelerating amounts of debt. Borrow and spend. To allow that, they need to keep inflating asset prices to the moon so they can say, "Hey, the debt isn't that bad. You can't just look at the absolute amount, you have to view it in the context of how high consumer net worth is. Then, it doesn't look so bad."
It's a big con ladies and gents.
Didn't we know that before?
they're not schitzo. they're very inteligent. the FED just said they'll keep rates low. see, we all should have BTFD. rates will never be allowed to rise.
Are you serious? Do you really think the Fed controls rates? I do not. They may control the short end temporarily, but in the end they do not. Why is the FED your Pacifier like so many other LOSERS here? Why can't you see Central banks (COMMIE by definition) are enemies of FREEDOM? Get intelligent or GO AWAY!
The zombie lurches forward once again, after FED does what it promised it would never ever do.
Don't ever bet against the house.
World central banks bought up the market today. You can forget about using all these charts because they are worthless.
the.market.is.rigged
I was glad to sell to them
i am fucking speechless.
they fucking wiped away yesterdays loss in less than 1 hour, it is truly fucking incredible.
yesterday all these jackasses in msm were saying how the ''market'' sold off due to fears of a global slowdown ( ya, because its not like the entire fucking global economy has been dying for years) but i guess less than 24 hours later, everything is fucking awesome.
now as i type this, moron jim cramer is saying how earnings will be the main force to drive the market going forward. ya, if by fucking earnings, u fucking mean janet ugly fucking cunt yellen speaking, then ya.
i just fucking want this shit to implode already, if i knew it was going to implode even in 2 years id be fine, but the question is, will it ever fucking implode?
I'm with you buddy, steam coming out of my ears.
What a fuckin farce, crime really does pay, over and over again.
So am I. There was a time when TPTB used to pretend. Now it's just: Fuck you and what ya gonna do about it?
" Now it's just: Fuck you and what ya gonna do about it?"
That's correct
Since we're "through the looking-glass," there's nothing anyone can do about it, and pretty much everyone knows it. (they just won't admit it in fear of fucking up this episode of musical chairs)
Dude, you sound like a nice guy. Honest, passionate about a just cause. May I suggest not even wasting your time watching/observing/"learning"/or anything else "ing" about the "market". Just don't worry about it, life is a'wastin.....
dont worry man, i dont consume my life with this, but at the same time, this shit will effect all of us one day, even those who did nothing wrong.
i can just not worry about this at all and live on, but i want to be prepared for when shtf.
there is no way we are left unscathed.
me and u and everyone else on zerohedge and millions of other unfortunate ppl, are going to need to bail these bastards out again when shit goes south.
we already bailed these bastards out once, i refuse to again.
I feel your pain.....it used to frustrate the hell out of me too. Now, it is like going to the circus: just sit back and watch the freakshow, without any emotional or other attachment whatsoever.
You are right, we'll all have to deal with the fallout. I just don't know what that will be nor when, so I just live modestly, work appropriately hard, try to be a good human as often as possible, and assist others at each given opportunity. Not much more we can do, aside from obvious preparations to protect home and family.
Good luck to you.
thank you man, good luck to you and your close ones as well.
truth is, i used to get a lot more ticked off, but now for the most part all i do is sit back and laugh when this bullshit ''market'' goes up on absolutely nothing.
the reasons i sound more furious today, is because of just how fucking blatant it was.
they wiped away an entire days worth of losses today in a fucking hour.
its pathetic already, they are basically being asked to be prosecuted, but sadly, no one will do so.
You're not going to have anything left to bail them out with -_-
Unless you intend to pay them in your food, munitions & other supplies and/or your land.
Patience Padawan. The Empire will be ours. Evil always destroys itself, but its dying throes will be destructive.
How true! Little do they know that they (the perpetraitors) and their families will bear the final burden....
What the machines take they give back. There are NO humans in this market, cept for the skeleton staff that monitor accounts. In a surreal broken world you have surreal broken markets. The global slowdown bs excuse. There is no growth except for real estate bubbles, and that will do the trick...Once the leveraged miners implode http://www.businessspectator.com.au/news/2014/10/8/markets/sp-cuts-iron-... then the banks, a tasty implosion with Ebola sprinkled on top.
Oh...Russia needs that oil price up, the longer it stays depressed, the more Putin will feel the sting. Watch Iran. http://www.timesofisrael.com/massive-blast-reported-at-suspected-iranian... and Iran will invade Iraq and secure Syria's borders http://www.theaustralian.com.au/news/world/iran-bolsters-syrias-bashar-a... Russia (and China) will protect their airspace and ports (shipping) etc.
It's going to get tasty...
Well I just spoke to a girl name Dorothy and she asked me to help her find her dog Toto and was blabbing about some evil bitch or witch.
Phew been a long day.
That would be bitch. And the name is Yellen.
The FED is buying/propping.
The Treasury Complex is screaming that a flight to safety is underway.
We are a second rate banana republic.
That is an insult to second rate banana republics everywhere.
....and bananas
slow the fuck down..today is not Tuesday...I mean Friday...I mean...
I'm starting to get flashbacks - didn't we see the same thing in 08? The swings got wider and wider before the main event.
i sensed a disturbance in The Force back in august
Same pattern.
If I had more inclination, I'd do some overlay chart porn.
The "market" is literally being bought in the form of purchases of futures by the CBs - that's how incredibly fragile the system is.
Hunker down.
You are exactly right Avenger. Same tape different year. Its a complete fraud today, just as it was then - Same outcome!
YES!
US equities rallied several times----even in late 07----all the while, Treasury yields kept creeping down.....just like now.
The Treasuries don't lie! Didn't then. Aren't now.
"Surreal" ain't just a painting for sale at the Van Gough Museum!...
also, why the fuck is it fucking news to the ''market'' that interest rates will be kept lower for longer now?
who the fuck expected rates to rise ? they will never raise rates on there own, everyone with half a brain cell knows that.
Like I say, when you panic-sell, I buy. Got worthless fiat coming in every day.
Your new 60-ish HDTV? My new covered patio, plus spa, American labor.
Might work day trading; but, being long broad indicies over the last six months or so???
Make it your job, be flexible, like the mutual bosses. Fiat's going nowhere but life goes on elsewhere.
Just keep buying boss--don't ever sell
I sell losing assets like I buy, I wait for the opportunity.
Often losers win after the right meat injection, aka British leaseholds boosting the UK housing market. People bought themselves and heirs into serfdom so they could live in a congested, unhealthy place? Am I not remiss to take advantage of this?
you seem like a real asshole... fuck you
Yes, I am... Gesundheit
“Spending of the best part of one's life earning money in order to enjoy questionable liberty during the least valuable part of it, reminds me of the Englishman who went to India to make a fortune first, in order that he might return to England and live the life of a poet. He should have gone up garret at once.”
“Rather than love, than money, than fame, give me truth.”
-Henry David Thoreau, from A Book Parasitic Fuckers like Barnaby Will Never Read
I love it. Look up my namesake by Dickens. Have a laugh at your thorough* misunderstanding.
*Mr Thoreau's name is pronounced "thorough," get it?
Keep buying SFB...
Yesterday's ~272 pt. drop in the Dow was wiped away on the heels of the release of meeting minutes from a meeting held ~3 weeks ago.
How can anyone call this shiteshow a market?
FUBAR.
HAHAHAHAHAHAHAAHAHAHHAHAAHHA
man when you say it out loud its so fking crazy stupid it is funny. you are absolutely right.
Just a soundbite and the cost of coffee and danishes, moved the market how many 100's of billions?
No more expensive POMOS, but free threats of one..
Brilliant..
today's trading action spells 1 thing: this WILL NOT end well. today is 100% proof that the equity market CANNOT live without fed stimulus.
fed minutes today mention global growth slowdown - i guess they just invented their 3rd "mandate"
this cannot go on infinitely although japan has shown, it can go on for quite a long f'n time.
10-year yield closing on its ass at 2.33% - went NOWHERE.
today was nothing more than a massive unwind of the long USD/short SPY trade.
take those 2 last lines i wrote & it = a fuggin horrific global economy with a continuation of a completely manipulated global market.
"10-year yield closing on its ass at 2.33% - went NOWHERE. "
Presently 10yr. yield is listed as 2.315% on my screen @ 4:20pm.
Pick a number any number........................................................
In the meantime
http://www.markmallett.com/blog/hell-unleashed/#more-16398
The lies are never ending... jobs numbers, GDP, CPI, inflation number, Fed dovish/hawkish jawboning... ALL nonsense, ALL of it.
Anytime you see choppy volatility increasing like this, that's a topping signal. This market is tired and starting to wind down. 2015 is the year this nonsense it all ends.
Yeah, by then we'll have plenty of war and plague nonsense to replace this idiocy.
Let's play a game: How many times can the DOW cross 17k? DRINK!!
iirc, back in summer of 2008 ... 12K on the DOW was Stalingrad ...
hey isis, if u want some fucking americans to target, u can start on wall st, hit up the ny fed, goldman sachs, jpm, barcalays, all these fucking criminal banks, and best of all, most of america would be on ur side.
these ppl r fucking scum, they deserve something really bad.
never seen such blatant manipulation go unpunished.
they r basically just shoving it in our faces at this point
No need for such extremes.
They will all have Ebola in a few months anyway..
ha ha, trust me man, i really am not one to wish pain on anyone, but these ppl r inflicting so much fucking pain on 99 percent of america, yet they keep getting away with it.
these ppl deserve whatever happens to them, they are the evil.
So every short got taken out in the US today, but spare a thought for the poor bastards who have been shorting Europe, they will wake up tomorrow with a very sore ringpiece as this farce continues unopposed, the greatest Ponzi scheme the world has ever seen, I guess tomorrows mission will be to smash Gold back down...
honestly, i can not say i feel bad for the shorts anymore.
me personally, i dont have any positions in stocks, long or short, i have been out for a while ( yes i know i missed out on a massive rally, but im not fucking playing games with these fucking criminals, because in the end, no one will win) and what i have been doing is just stacking physical gold and silver.
However, if ppl have not learned by now that u can not short this market, they deserve whats coming to them. Also, u will not make any money on the short side when SHTF, as pointed out by several posters on zerohedge,
I hope no one on zerohedge is losing money on the short side, but in general, if u have not learned by now that this is not a market and that shorting can not work, yet u still short, sorry, those ppl deserve whats coming to them.
i guess all those ''grandparents'' who were hired in september were using there money to buy stawks.
makes sense
Key phrase in the FOMC minutes that led text-parsing algos to ramp markets at 1:59:38: "peanut butter."
this was 99% short covering
plus, they turned the machines back on.
LOL, William Dudley and the NY Fed playing with the bots to get them into full buy mode before the November election for Obama's libtards.
Got to rocket it up before the November election.
I fully expect the Fed to reverse the taper and go super QE to $170 billion/month. On to infinte money printing.
OH it's 'all about the elections' again, yea.
So much for a cheaper Euro. Damn, we were "this" close to a recovery.
The Fed and Wall St. are pathetic! The Fed plays wet nurse to Wall Sts. putative contretemps but all the while anyone who's been paying any attention at all KNOWS the Fed hasn't the foggiest notion what to do, never mind their sorry excuses for economic forecasts. The U.S. is bloody bankrupt and the totallity of all equity is NEGATIVE. We all owe much more as a society than we can ever afford to pay back and EVERYONE is on the hook; Wall St. makes me want to vomit! END THE FED!
This what you get when you force feed the addicts(banksters) heroin for 6+ years.
Bad news is good news because the supply of narcotics just got cheaper to finance, even though the patient is on life support.
For all the Fed's nonsense, what the S & P up YTD? 6%? As opposed to 20%+ last year? The magic will wear off, it's just taking a very long time if you want instant gratification.
Even Chimerix (CMRX) rebounded significantly off it's lows that it reached right after reports were published that the Ebola patient in Dallas died:
http://finance.yahoo.com/q?s=CMRX
FedFvckingFUBAR.
When I was a kid I had a very good spin top. As it spun (it seemed forever), the top wobbled more and more but refused to fall. This market reminds me of this drawn out suspense until it finally fell. If I had the FED power to juice it up from time to time it could still be spinning - just like Japan. This game will never end until the war, drought, epidemic, or whatever mankind does to itself to wake up the sheeple.
I bet I can stay liquid longer then these markets can stay irrational. Things are going exponential now, certainly the economy (down obviously).
I just cannot decide yet how to use my assets: Buy me a farm or hunt these fuckers down, wherever they are. One thing I know for sure: All the Ill-gotten gains will be given back soon. These socalled elitists will not enjoy their spoils for very long, this is not the middle ages. We know who they are and where to find them.
Peace No peace.
Get the farm, keep your head down and let them starve to death - a nice slow death is what they deserve. With luck they may become a tasty meal for some of their friends.
Damn! I thought I was looking in a mirror when I read your post. Spot on!
Just bought 9 more oz for oct. Near perfect timing with this. I do think paper will go to zero eventually wether it be paper gold contracts or FRN.
Just bought 9 more oz for oct. Near perfect timing with this. I do think paper will go to zero eventually wether it be paper gold contracts or FRN.
Janet and Simon should be fired. The RRP yesterday and reversal (settlement), today say it all.
FED aren't going to print again until their talk stops working.
FED interventions bought them today, but what will they do tomorrow and Friday?
Wow! World growth is slowing and interests rates, that have NOT spurred economic growth, will remain at zero. So what to do? Buy STAWKS! God. If anything can convince me that 'Bulls' are truly RETARDED, today was the epiphany. Or, the Porch-Monkey's (PINKO COMMIE FASCISTS) are desperate. I wonder which is true---or are both?
Aren't these wild swings symptomatic of a market top prior to a crash?
I think it's fair to say these wild swings are symptomatic of a BROKEN market!
Or, more aptly described as a POSSESSED market!
Bear market FAIL.
What the Minutes actually said didn't matter. They were gonna force a squeeze regardless. That's why this market can't go down. No one can stay short.
Prolly just a pause in the deflation trade. Everything got a bit extended. Gold and silver always seem to find a way to backtest breakdown areas. Watch the $18.17-$18.65 area in silver. Gold $1240 or possibly the $1265/70 area. Euro 1.2875 area. The dollar could use a couple weeks of consolidation. It would take a close in gold above $1300 before I even entertained the idea that something changed.
The next two days in equities will be very interesting. If we close the week higher from here, we'll likely test the highs. It's a game called "Suck in the shorts, chase out the shorts." Rinse, repeat. Push higher. It's quite impressive, actually. The main thing to watch out for is a possible right shoulder formation in the ES. That's the only hope the bears have left.
We're in a deflationary era with temporary inflationary injections by the Fed. They will not win. It's impossible. They will never normalize interest rates. It's impossible. Maybe they can get away with a token 25bps but I'll believe it when I see it. Anyone who says the stock market will like a rise in rates is thinking of a real bull market driven by economic growth that needs to be cooled down. This bull market doesn't have economic legs to stand on. It's driven entirely by the Fed, so when the Fed reverses so does the stock market. And since they can't reverse, it will take a sovereign bond implosion. Pick a country, any country.
Does the Fed know they're totally screwed? Someone should probably tell them.