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What Rout? Stocks Have Best Day In A Year
Since 13 minutes after the US equity market opened, the NYSE was broken for 150 symbols from AAPL to XIV (inverse VIX). KO, MCD, & IBM all fell notably on earnings. Credit, Treasuries, and JPY carry all traded 'risk-off'. But none of that mattered...broken markets and ECB rumors were all that was needed - Nasdaq soared by most in 2014 today, extending its 3-day swing to the best since Dec 2011. Despite USDollar strength (driven by EUR weakness), commodities all rallied with Copper and oil best (WTI >$83 again) but volatility in crude was significant. Treasury yields were mixed (flat to 5Y, +2-3bps 10Y & 30Y). VIX was smashed briefly to a 15 handle (down over 50% from its peak last week). Trannies are up almost 8% from Bullard's "QE4" comment last week... normal? Volume was dismally below average.
Nasdaq's best day in 2014, best 3-day swing in almost 3 years...
Most shorted stocks rose 2.4% - the biggest day in 7 months!
Only 2 things mattered today... ECB rumors and a Broken NYSE...
As cash indices exploded today - Dow up 207 (despite -65 points from IBM, KO, and MCD) - Trannies up over 3%
VIX was smashed lower (to a 15 handle briefly)...
Led by a surge in XIV (inverse VIX ETF) after NYSE broke - and WTF was that huge volume spike?!
As all the major indices explode off the Bullard QE4 comments...
The long bond and credit were not buying the plan...
Nor was JPY carry...
Treasuries did sell off intrday but steepened just 2-3bps on the day
As the USDollar surged on EUR weakness after rumors of ECB corporate bond buying hit... leaving the USD unchanged from Friday
Despite the USD strength, commodities gained ground - with an earkly spike in gold and silver faded as oil and copper rose...
Notably Copper is best post China GDP 'beat' and Gold almost roundtripped...
Charts: Bloomberg
Bonus Chart: The McClellan Oscillator (tracks internal breadth changes) has reached its highest since Sept 2013 (and signaled excess buying then)...
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Days like today make me feel like giving up.
Fucking ridiculous.
DavidC
go search ANY fortune 500 company with search words share repurchase..........then you can understand ... i know Tyler hits this but this is an EPIC ponzi......heheheheh ... THEY ALL are in on it
I see long term investing is back in vogue
classic shakeout, nuts crushed for short penis boyz...
In the "old days" markets would work their way up in a methodical fashion, and sell off quickly. I remember one of the old timers tell me; "prices take the escalator up and the elevator down."
These days, everything is reversed. Prices go up like a rocket and rarely sell off and when they do they go down slow.
So the deer has been shot, gutted, dragged, skinned, de-boned, wrapped and put in the freezer?
pods
Pemican
"...best 3-day swing in almost 3 years..."
Schwing! No volatility here.
No gaming shorts or put/call gambling to see, move along.
This is how to fix an election,same as it ever was.
You didn't actually read that did you?
It didn't feel nearly as strong beneath the surface. More dead-catty than anything.
Also: Colorado governor's race rocked by new ad
http://tinyurl.com/mn3u5ng
Lickenpooper is one of Obamalamadingdongs top men....I'll be so glad to see that phony con man gone.
'Giving up' what exactly, gambling in the known rigged mafia casino? I'm not worried about these games, I'm not playing.
In Soviet Merika, you don't play games, games play you.
FOMC meets next tues/wed
in past, usually a melt up week prior (buy the news?)
on wednesday out comes announcement (sell the news?)
hey Dave C...
thats exactly what their shit show is designed to make you feel like....
giving up....
u know this shit aint real...man up homie...
the road aint for the weak...
stay up.
yes indeed. Wear a cup to protect ur balls.
Thanks Kaiser,
Believe me, I'm NOT giving up but days like today DO stretch my resolve!
5-7 years of this SHIT (forgive my language!).
DavidC
That's where the Fed will give the carefully scripted 'porridge just right' speech. I wouldn't buy any of it, I hate porridge especially Fed shitporridge.
err, that should be "buy the rumor"
Buy the rum or?? -- what, vodka?
Deleted.
<-- Perma-Bulls (Get rich!)
<-- Perma-Bears (The End is Near)
I know which "pill" you favor. But the real question, the real acid-test is: "Which 'pill' is making you rich(er)?" If it ain't making you rich(er), it's called and "indulgence".
don't give up, just buy gold.
A little bit, regularly. Get out of the banking system, get out of reporting, trade and barter. The system will collapse.
The faster you withdraw your support, overtly or covertly, the faster it will happen.
Pay your house off, grow some vegetables, restore an old motorbike and enjoy your life. Let the world go to hell in a hand basket all by itself.
I believe the system has already imploded, it's just being papered over by the overlords, last step before the world war.
Look at CMG today. That should give you "hope", no?
Yelp earnings tomorrow, Amazon Wednesday.
One after another they will disappoint.
Let's hope they don't disappoint. Nascraq will be up 200 if so.
they make me feel like going short. my last adventure int that category cost me $2000. I'm pleading Alzheimers. What can I leanr fromthat ? well, I reacted to a news anouncemnt that I didn't even understand; IBM isn't part of the S&P it's part of the DOW; and then I had to run around here locally putting out amall fires, (bullshit that had to be attended to), and let it run for 6 hours with no stop on it; result---bad. 1941 is getting into very intresting shorting territory; but patientce is a virtue. "If you're in a hurry to make money, wait another day, if you're in a hurry to stop your loss of money; go faster"---Old, old, wisdom in futures. Also having computer problems; don't have time to try to work on them any more; got more local bullshit to attend to; blah, blah. I'll report if I get bitten by the "go short angel" again.
Well suckers... here's a scenario that may sound familliar to some of you:
Charlie Brown: "Oh no.. not this time, Lucy. I know you. You're going to pull the football away at the last second, just when I'm about to kick it. Each time I try, I fall hard on my ass and you laugh your ass off. Not this time... I'm not falling for this one again, uh! uh!"
Lucy: "Yeah... but this time, I promise, Charlie Brown... this time is different. Trust me."
Charlie Brown: (tentatively) Naw... I don't believe you. It's always the same old story. You'll pull the same trick again, as you do each time."
Lucy: "No...no... Charlie Brown... I SWEAR to you... this time, I will not pull the football. Come on... do it!!!"
Charlie Brown: (sheepishly) "You mean, this time you REALLY mean it? You're not going to fool me THIS TIME?"
Lucky: "Absolutely, Charlie Brown. Come on, do it! I haven't got all day."
Charlie Brown (half-convinced): "Well... okay, but don't you fool me again, because if you do, I'll never trust you again, you hear me?"
Lucy: "Oh come on, Charlie Brown... don't be such a wimp... DO IT!"
Charlie Brown: (grinning) "Finally... this is my day. Okay, here goes... (KICK... SWISH... THUMP)... "OH NO... I CAN'T BELIEVE I FELL FOR THIS ONE AGAIN!"
my neighbor's half-sister makes $71 hourly on the laptop . She has been fired from work for 9 months but last month her paycheck was $17975 just working on the laptop for a few hours. look at this site... www.job-reports.com
The circus continues...
"As all the major indices explode off the Bullard QE4 comments..."
Draghi ... with the tap of the hat
I bet the Fed central banksters cleaned up nicely on this pump n dump.
The selling in the downwaves looked like programmed prfessionally managed dumping; that's why I think it's still a market to short; we're just waiting to see where they're going to come back and sell some more. The Central Bank; probably not; but entities like JPMorgan, Citi BAnk, yeah, sure. They hire math majors to run these trading programs; and it's always been the case that you sell the tops; and take your foot off the market's neck again when it's "too cheap" and let the muppets get confident again. So, same old, same old.
I am going to sell any further pops this week.... probably will open limit down in the morning to teach me a lesson.
That sure sounds prudential.
Ebola is real...but fear of Ebola is clearly being manufactured.
Staying long treasuries still.
1960 looks like really tough overhead resistance, if they can get that far, I won't be able to resist.
i have a guy i used to call a friend that i convinced to move into Silver and Gold some time ago...
before hand he was almost completely wiped out during the crash in 08'...
now all he does is send emails about how us "doomers" got it all wrong since 09' and how all the Silver he bought at $50 (all 10 ounces) is now worth only $17....
he calls the dollar the king of all fiats and says us "doomers" with all of our Silver and Gold aint shit without almighty fiat...
of course he sent over the Dow chart today to show how we all full of shit...
hilarious....
Send him back his DOW chart with 'this is hardly up for the entire year idiot' written on it.
Fuck him. We all deal with assholes like him. We can handle it. Delayed gratification. Nothing could make me go back to that market bullshit. Ponzi mutherfuckers. We shall prevail.
If you see him, will you kick him in the nutz for me?
wreaks of desperation similar to October 8th when everyone short covered prior to a 150 dump on the SnP in a week
$FST rose an insane 38% today...
Still waiting on the SABO merger and I'm cashing out.
My cousin has down syndrome, and he enjoys watching CNBC, seeing all the red and green flashing numbers. I sent him a text asking him what he thought of the market today. He responded, simply: "RETARDED"
Fucking funny
Things really are different this time. This site needs to be shutdown.
that would be awesome ... akin to the last bear throwing in the towel ...
Has anyone overlaid the U.S. government debt limit, actual debt, and gold price in a while? Seems like that spread has really come unglued. I guess it really doesn't matter now.
Good question. "If everyone is dead the money will still matter."
Move along...
Noooo! This site is very valuable in that you just do the opposite of what is written! So after years of doom and gloom, market crash imminent, buy metals, Europe in the can blather, etc, blah blah, yada yada, lo and behold another major market move up and soon to be a record!!! .....for years!!!
However, ZH is right that Obama sucks. They're just so locked into "old school" and little insight into ...???!
I think of it as a rubber band stretched out about a far as it will stretch; rather than something that's "unglued". how would it come un-glued?" Un-glued must mean; people distracted by other things; but people can be surprised; evern over a weekend; Surprise !! Sometimes nice surprises, sometimes not.
Explain to me why I am supposed to get excited and buy US stocks becuase the European Central bank is going to conterfeit a bunch of money and buy their stocks with it.
Especially since they are not even going to to it....
First the market price doesn whatever it's going to do; and then somebody "explains it"; Just don't pay any attention. And no I don't think the ECB is going to "fix" the US STawks market.
To the moon Alice! To the moon!
Still have direct deposit?
If you bought some $FST at .65 five days ago, then sold at close today at $1.25....
Yes, you would be on the moon.
Where is the Dow Theory dude? His short signal is starting to look like the rest of 'em. i.e. wrong.
True to form. Mario drops a trillion euros of shit bonds onto the ECB balance sheet and it's . .. . BULLISH !
the real money is in the volatility....
and naked shorts...
just central banks and aligned financial institutions timing their buying with ECB comments
moar shit show tomorrow - thurs is second last POMO of Oct
proceeds from all this bond buying is being used as well, but it too shall run out - so in the mean time, we just tolerate yellen (much like a wart is tolerated on your big toe until you can get to the doctor to burn it off) until it stops dumping its cash into equities
I don't mind rising "markets" on no news. At least we know we're approaching the end of this craziness if they can't even come up with some fake news to be the reason for this "surge".
Don't give up, brothers and sisters! It will crash soon!
It looks like Bob Janjuah was right, this downturn was caused by loss of faith in central banks ////sarc.
If the Tylers have one more Bob Janjuah note to clients, I will ask for my account to be deleted.
Listen Bob, nothing personal but when I hear you say, "there are no markets, only central bank coordinated intervention", then I will start listening to you.
for a little perspective
prior to last recession ... S&P hit all time high october 2007 .... NBER called start of recession december 2007 ... even then the last of the bullz didn't capitulate till sept 2008 (i remember kudlow giving up then)
We're at the threshold of next recession (Q1 2015 latest start) ...
Serious question: So if the last trade of the day is 10 (ten) shares traded at 10% above the second to last trade, the entire N-million outstanding shares are repoted as priced at the last trade of the day?
Does anyone know if there is anyone reporting a market metric of average price over a volume (going back however many days as is required) equal to the number of outstanding shares? This metric would eliminate the effects of thin volume melt-ups.
Does anyone know where I can find or find the data to calculate the number of trading days for the average DOW and S&P 500 company to trade it's entire outstanding shares?
i'm sure the fine fellows at "Gravy" HFT bucket shop will help you out ...
Hm tricky question. I have no idea.
Maybe shoot an email to Edward Quince??
Welcome to "The Greatest Fraud on Earth!"©
Fear and Greed and we're back to greed as the pigs now believe ebola was just a blip. Good thing too as the Fed would be making it clear next week that it is preparded to "accomodate" the virus through more easing (assuming we were at or below recent lows). Personally, I'm betting on a "just when you thought it was safe" ebola Halloween resurgence.
I'm in such a foul mood with this charade and theft that I refuse to buy anything. Nothing. Next time something breaks: dumpster.
use it up, wear it out,
make it do, or do without.
Oh yeah?... Just wait till the elections are finished and the "votes" counted!
World War III, Ebola pandemic, market crash (or all three) will be dressed and ready for winter!!!
At this point? Who the hell needs prognostication considering how rigged it's been since 2009??!!!!
2 weeks until the elections, the DOW will be solidly above 17,000. Only way it's not is if a meteor slams into wall street, and even then I 'm not so sure.
DOW 36,000 once the Hiladabest gets in!
from the H of the /ES of 2014.50 to the L of 1813, we went up and over the 61.8% @ 1937.75 of this range by a little bit at the Close,,,H so far of 1939.25. Which means, 'we broke the short', that was in the potential to take us from the H to the L of 2009, to same 61.8% or more or less of that range/downhill. That is now changed. New H's now possible. Trend change.
Buy the dips. Dip yur stick in it and swirl it around, be nice, and smoke 'em if you got 'em. Or something similar, I think.
Not saying you are not correct. Time will tell. But I will say that charts and all comparisons to yesteryear don't mean shit right now. THEY ARE MAKING THIS SHIT UP!
Has nothing to do with what happened in 2009.
DOW might go to 40,000, it might go to zero. Charting used to be somewhat accurate. Don't mean shit now.
Proceed at your own peril.
Not buying it. What we looked at was a major institutional sell-off in US Stocks accompanied by a major buy in in Bonds; classic change of mindset behavior from people big enough to matter; definitely including bank trading desks. they don't change these major outlooks that fast. When It rallies it just becomes a more proabable short; when the pros. are waiting for right now is whatever price they can get to off load somemore. Why sell at 1940 if you your models tell you 1960 is possible. they need the rally to sell into; there are no legitimate optimists in the mover and shaker class who are buying this market. it's a dead cat bouncing; and the bounce will reverse when the programmed equity dumping starts again; soon. with in a week or ten days.
yes, perfectly fucking normal.
a week ago from tomm, the dow was down at session lows 455 pts and tanking, s&p was down 50 pts, and the nasdaq was also getting oblitirated.
since then, the fucking fed brought the ''markets'' back that day 300 plus pts to finish relativley flat compared to what it had been, and its been higher and higher ever since.
ko, ibm, mcd, 3 major companies miss badly, who cares, as long as the fucking company that makes the ishit continues to buy back stocks to boost its earnings, all is great.
there are no words to describe what i want to happen to the blowhards on wall st and every other fucking banker/ hedge fund guy around the world. all fucking scum
I know. It really has never been like this exactly before. Seriously, Coke, IBM and MCD shit the bed. Did you see their earnings reports??? Fukking A Dude!!!!
I'm beginning to think this ekm dude is on to something.
You're right; and the market is behaving foolishly; but this is normal. the market doesn't anticipate anything; it's always ":retarded". The bounces are caused by optimism on the part of Joe Schmoe and programmed buying in the 401K's; it's going to get sold down again when the heavy hitters decide they like the price to sell into. Serious people are de-stocking on stocks; and the fools are doing the rallying; and so has it ever been.
The market humbles us all -- even Uncle Money Bags.
Expect AXP to be the next "Buffett darling" to tank...
It fits the same 'share repurchase accounting game' profile as IBM and KO, but compared to those, AXP has:
Lower dividend yield
Higher debt:assets
Higher 5Y EPS growth (likely to reverse/disappoint)
Lower net margin
=
Financial stocks in-general are very overvalued right now.
"Financial stocks are overvalued"---ya think ?? The whole fucking thing is overvalued; and the heavy hitters are selling out their portfolios.
Warren Buffet didn't buy a stock; he bought a Railroad; the whole thing' the physical property; not the stock. take a clue from him. At one time he had a big position in Fannie May; and people thought he was crazy; but he sold it a profit. Don't believe he doesn't trade; he does.
Stawks best day in a year based on a false rumor.....sounds legit!!
shorts got DESTROYED today
Look; if you don't know what you're doing you can take a big loss on almost any day. that doesn't mean anything. I had a stupid short on; but it wasn't working so I took my loss; so what? losses are your friend. Prices go down faster than they go up; and waiting is the most important part of the program; when they get high enough it'll be a low risk short; and very profitable.
Tom Petty knows a thing or two about waiting. It's the hardest part.
Continue to BTFD until someone actually defaults. This can go on much longer than you think
Damn! I'm rich! Again!