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US Election Anxiety & ECB Mutiny Spark Small Cap Stocks & Dollar Selling
It appears the excitment of US midterm election sparked a "sell-everything-American" strategy today as stocks, bonds, WTI crude, the dollar, Treasuries, and credit all sold off to a lesser or greater amount. Trannies started off liking weak oil prices but faded as WTI could not bounce off multi-year lows but stocks were jolted lower (before v-shape recovering to VWAP) by Mutiny at the ECB (and desk chatter that - as we have warned - QE is not coming). The decouplings continue as high yield presses to 2-week lows and Nikkei futures diverge from USDJPY. The dollar weakened back to unch on the week after Draghi but commodities saw no gains from that as gold, silver, and copper slipped. WTI dropped to as low as $75.85 at 3-year lows. VIX - helped by numeous CBOE 'breaks' today - jerked back below 15 (after trading above 16 briefly).
On the day, Trannies and The Dow ended just green as broader indices closed red unable to recover Draghi's Mutiny drop...
and from yesterday's Saudi headlines...
VIX was jerked lower after CBOE broke a few times and Draghi's slam down sparked ucnertainty
Credit markets are flashing red again...
Either 30Y yields are 30bps rich or the S&P is 100 points expensive... you decide
On the day, Treasuries close mixed 30Y -2bps, 5Y +1bps with the flattening curve continuing oin the week...
The dollar lost notable ground on the day as EUR strengthened post Draghi...
Commodities slipped lower despite the USD weakness with oil the biggest loser once again...
Crude appears at a key support level here
Charts: Bloomberg
Bonus Chart: NKY and USDJPy decoupled...
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Miners taken out once again and shot, again, for good measure....
Kick ass I got Banned from cnbc today,,,,fucking mooks!
Dont want any truth spoken there.
Ill miss beating on clumpuss troll,,,,,
cnbc pussies !
I'd really like to know how much germany (merkel) have contributed to this ECB rebellion. more importantly, how much longer (if at all) germany plans to be a part of the EU. what is stopping them from cutting loses anyway?
This is probably my favorite election photo from a photo collection I force myself to review from time to time.
Rahm is right, elections have consequences.
So do erections..
Is that from Al-CIA-duh headquarters? good thing someone kicked the Papa John's box under the couch!
The Manchurian candidate.
the only question is will the pro-Zio-nazis / MIC get more or less control of the Hill tonight? looks like alot more...as McCain and Lynn-sy Graham do a war dance...
Find someone on the hill on EITHER side that isnt a war hawk... Name one I dare you..... Even Franken the Libtard poster boy is a war hawk....
he's a fuckin POS but i wouldn't put him in the same foaming at the mouth war mongering class as most rethugs
Both sides of Shill works for the NWO. Nothing changes except more beatings.
Rand Paul
Gee, even when stawks 'sell off' they still close higher...wow neat trick.
Pissed, really pissed, price of Au in Oz is sixty four dollars less than the dealers are selling for, only silver selling cheaper...
Grrrrrrrrrrrrrrrrrrrrrr
Time Warner (warner bros) cutting 1000 jobs ... sounds bullish
First time not voting for anyone in 18 years. I feel pretty good about it. You should see the choices I had in my district. Funk that. I'd rather shit blood than consent to be governed anymore. Symbolic gesture? Sure, but I just joined the largest political party in Amerika - the I Don't Give a Fuck Anymore Party.
I am sure you voted democrat anyway....
Im in the "Fuck Off party" myself,prolly not as big as your party,but were having a pledge drive,so our ranks are growing.
But were with you Dr. Head(nice name by the way)and if I ever leave this party,it would be to go to yours!!!
SO,next time you meet a libertroll, remember our motto
Fuck Off!
See it just rollllllls off the tongue........
Anyone else here in the Fuck Me In The Ass Party?
POTUS, but he's not actively campaigning
Welcome!
I decided the same thing. No longer will blood be on my hands from these elected luciferian assholes. I WILL NOT COMPLY!!!!
I have never voted in my life. Feeeeeeels good too.
Nothing's the same anymore since Tim Cook c a m e o u t.
Will be intersted in turnout. Lowest in US history?
Other than that "bring on the debt apocalypse."
GOP wins Senate. Market explodes higher tomorrow after NYT says iittle will get done with divided government. Markets still have the Fed (and BoJ and...).
Despite the ‘small cap selling’ headline, RUT ended where it began, a small gap down from the past two weeks ludicrous ramping the final tally, most of the intraday selling confined to the 11:00 hourly candle, which failed to even close Friday’s massive gap (?!), then slowly bid all day back to precisely where it opened.
Still can’t buy the election optimism as the cause for the odd, constant low-level bid we’ve seen for the past few days. The Russell I know and love would have retraced half of the Japan gains in two days, then roared to new highs, fucking traders on both sides, but instead it just sits there in complete stasis.
I’m not sure waiting for the Jobs Report fits either, as algos normally prefer to go in a large circle from Mon-Thurs pre-Jobs, increasing profits then picking a middle ground to wait, and instead we’ve had nothing but low-volume horseshit.
CNBC silly bulls would suggest we're 'digesting', with Jobs FRI to be the catalyst to resounding new highs. Don't believe that will happen either. We're stuck in Central Bank Hell, worse than anything depicted on Italian church walls in the 17th century.
Flogging will continue until morale improves.
I voted today. There were certain things on the ballot that I could not sit by and take a chance for them to get passed without putting in my .02 cents. Specifically, very localized Special Purpose Tax agendas that I do not want to contribute too. And yes, the whole damned thing may be rigged, but I can say that I at least exercised my right...no matter how hollow and manipulated that 'right' has become.
I am sick of all of the political radio ads, tv ads, emails, tweets, etc. etc. ad nauseam. Glad that it will be over so I can get back to earning my slave wages in peace and catching up on Dancing With The Stars. Sigh....
Bullshit!
All after the fact explanations that come from mainstream media are ... wait for it ... wait for it ...
BULLSHIT.
Why ZH would stoop to the same level of deception is beyond me ... oh wait, ZH now IS MSM.