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S&P Drops 4th Week In A Row - Worst Streak In Over 3 Years
Despite a Bullard-bullshit-driven rampalicious surge in the last 36 hours, this is the first weekly close below the 200DMA for the S&P 500 in 2 years and longest losing streak since August 2011. Today was the best day of the year for the Dow Industrials and 4th up-day in a row for the Transports (which ended the week up 3%) as the major indices saw significant divergence on the week. The USDollar closed lower for the 2nd week in a row with EUR strength the main driver. Treasury yields ended the week remarkably stable (30Y -3bps, 5Y -11bps) up 30-40bps above intraday lows on Wednesday. Despite USD weakness, only gold managed gains in the commodity complex. Oil bounced off $80 but ended the week down 3.2% (around $82). VIX was slammed lower at the open today, closing -3 at 22 (+1 on the week).
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Before we begin...
Friday Humor: 1)Yellen talks Inequality and Opportunity 2)Obama hires a Ebola Czar that isn't a doctor 3)Vice President's son is doing coke
— Stalingrad & Poorski (@Stalingrad_Poor) October 17, 2014
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Umm Small Caps today!!
Quite a divergence in indices this week - as favored shorts were rip-squeezed sending Trannies and Small Caps surging...
Financiasls still underperformed on the week as homebuilders (another favored "most short") ripped.
As everything took off after Bullard's QE4 comments (and was helped by Coeure)
VIX was jammed lower at the open today (likely reflecting ECB's Coeure's QE comments)...
Treasuries were insane this week - what can only be called a total pukefest on Wednesday on record volumes saw bond yields rip back higher in the last 2 days to close 3-10bps lower on the week..
The USDollar closed down 0.7% (2nd week in a row) with CAD weakness ofset by EUR strength...
Despite USD weakness, only gold managed gains on the week (2nd up week in a row - first time since July). Oil bounced but still ended notably lower on the week
WTI bounced perfectly off $80 as, perhaps, The Saudis got a tap on the shoulder that they were killing US Shale. 3rd week down in a row...
Charts: Bloomberg
Bonus Chart: Seems like The Hindenberg Omen worked this time? (broken clock syndrome? or world without a Fed reverting to natural reactions?)
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Need.More.Heroin.
Cocaine too
Don't forget the "Molly" too!
In reference to the puking clown, the term "technicolor yawn" is a common Australian slang term for vomit.
The Aussies have more slang terms for vomit than any other thing. With Americans the item with the most slang terms is money.
Clowns from Liberia!!!
Hookers & Blow!!! And the clipboard guy in case we need him to instruct us on how to penetrate the hookers not to get Ebola!
I guess you can eat too many skittles.
Definite vomit theme around here today.
>>Cocaine too
True wallstreet. The rest of the junk is for burnouts and klub kids.
(See 1980s)
i hope u all r enjoying the complete fucking farce this country has become in every possible fucking way...
todays activities speaks volumes as to just how much contempt they have for the populace...
DEATH TO THE MONEYCHANGERS...
The scary part is trying to explain what is happening to the average joe.
All I get is the deer in the headlight look and some comments about needing more tinfoil.
I cant wait to give them the "I told you so" look when it all comes crashing down.
Globally coordinated jawbone and it only got them 2%. Not that impressive.
Oct 30th is gonna be a fun day. if the Fed doesn't extend QE for a longer period, all hell is going to break loose.
talk about painting yourself into a corner.
Painted, now what?
The fed owners might just be setting up a new round of sucker bets. Look out if core cpi comes in higher than expected next wednesday.
There is an erection coming up. And there is absolutely zero incentive to take away the punchbowl.
QE4: On Stranger Tides
They failed to push it over the 200 dma which is not a very good sign.
Or maybe it IS a sign (to some internal folks with buttons in front of them *wink* *wink*)
4/5 Hindenburg positive today fwiw/last chart
http://stockcharts.com/public/3828047/tenpp/3
Love the clown
"off the highs"
FED Newspeak- 'So....what we're doin up in here is tapering and ready to raise rates while we wheel out QE 4 and cut rates below 0.'
OH ok....got it.
I'm wondering if even the algobots can trade a market as broken as this one. That bond chart, especially, screams, "Humans, Keep Out." Forget about historical asset class correlations, chart patterns, P/E ratios, supply and demand, and probably even cause and effect. I think the clown puking rainbows has the right idea.
Just because algos trade fast doesnt mean they trade well.
That also goes for feathered underwear analysts "Doin the Momo."
You can make some serious P&L in weeks like this if you keep your shit cool and lead the target
Proud of my beloved Russell for not participating one iota in today's MOAR-gasm (after yesterday's toga party, it was all tuckered out), allowing R2K traders to laugh in BULL-ard's face, profiting on the short side while he sipped cognac and watched his Fed retirement plan rebound.
(Funny to hear pundits today lamenting small caps lack of 'participation', how it was a bad omen, etc. Amazed they haven't figured out markets trade 90% technically, and 10% 'surprise' news, and no way were machines gonna let ol' Russ saunter convincingly past the 20-day MA, which hadn't been seen since Sept. 19 (!), and which they had exhausted the late-short ammo squeeze to reach. Oh, and the day's low was almost precisely the 20 EMA on the hourly chart, but I'm sure that's where all the smart Goldman hexadecimal strategists, studying all 2000 names in depth, forecasted fundamental 'value')
Cruise ship with quarantined Ebola couple returning to Texas after Mexico does not give 'clearance'
http://wtfrly.com/2014/10/17/cruise-ship-quarantined-ebola-couple-return...
Market still negative momentum at end of day, need up day on Monday to kill downward move and restore goal of neutrality, stasis.
Should be possible unless we get a dozen or more new ebolas over the weekend, or maybe an epidemic of 50,000 fans all vomiting at the stadium at the Denver-SF game.
Thank goodness I've got a clipboard.
cash is king bithez
Lisp?
Is that clown "Ebola"?