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Dysphoric Electorate Sends Stocks To Record Highs
Well it's the day after Midterms so stocks had to rally, right? It appears no one told Nasdaq stocks to toe-the-line. The Dow led the day (led by Visa again, 40 of 85pts); Trannies appeared to enjoy higher oil prices today and while the hunt for a catalyst remains absent, 1315ET marked a schizophrenic divergence in stock-buying exuberance that Nasdaq never recovered from. A very choppy day in stocks - macro data, Saudi headlines, McConnell and Obama. Gold (worst day in 4 months to Apr 2010) and silver (worst day in 13 months to Feb 2010) were crushed overnight (amid zero liquidity). Oil prices surged on Saudi ISIS fears (best day in 2 months) breaking above $79. Treasury yields rose modestly (but rallied into the close). The USDollar rallied in the EU session then flatlined in the US session. HY credit was not buying the equity exuberance as HGY closed red.
It is kind of ironic that the day after the country shows its distaste for the inequality inthis country (i.e. the 'positive' data not trickling down to the average joe) - US equities hit an all-time high and close near highs.
It appears algos were utterly confused today and stocks drifte higher on JPY and oil and nothing else.
Late-day buying panic dragged Small caps into the green but Nasdaq stayed red... just
Not exactly a great bullish day - Utilities surge and Energy stocks jump on Oil which jumped on terrorism concerns
Quite a divergence in commodity land as bullion was battered (gold worst in 4 months, silver worst in 13 months) and crude surged on Saudi pipeline explosion concerns...
and quite a divergence in credit and equities
and IG credit too
Treasuries remain mixed on the week with modest rise in yields today - once again with volatility between 8ET and EU close
The Dollar rallied in the European session but stopped around 8ET (when bonds twanged)
and the Dollar strength sent gold ansd silver lower... and despite news of The Mint sold out of physical silver coins, silver tumbled into the close
Charts: Bloomberg
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The election was raysis!
Dats raysis!!!
http://www.salon.com/2014/11/04/it_is_all_still_about_race_obama_hatred_...
TUESDAY, NOV 4, 2014 10:25 PM UTC
"It is all still about race: Obama hatred, the South and the truth about GOP wins: All the conventional wisdom you'll hear tonight is wrong: Republican gains are really proof of age-old ugliness"
PAUL ROSENBERG
Salon
[I will only excerpt very last paragraph]
"What all the above boils down to is that blaming blacks for being poor remains broadly popular in America today, and that taking note of continued discrimination is not. A modest majority of Democrats outside the white South disagree, and this creates a political fault line that Republicans have repeatedly exploited across the decades, with no end in sight. When conservatives get too crude — as was the case with Cliven Bundy, for example — this threatens to upset the apple cart, and appearances must quickly get restored. But it’s the crudity, not the underlying attitude of blaming blacks, that has fallen out of favor. This would hardly surprise a Southern gentleman of this or any other century. It’s just the way things are supposed to be. Always have been. Why ever change?"
Keep playing musical-chairs.
The music is still playing.
Conform.
buying panic ahead of all that ECB QE
fucking Salon... a wretched hive of scum and villainy...
"It is all still about race: Ebola hatred"
It's raysis, you're right. The rights of the Ebola virus are not being democratically supported in America, dats raysis! Will age-old discrimination ever leave America? All the above boils down to blaming Obama for inviting the poor Ebola virus to live freely in this Great Land of Opportunity. Oh, plus a thing or two about the rights of Guantanamo to exist, the rights of the MIC/State Departement to wage any wars it wants in the Middle East (ok, that won't change), etc.
There, fixed it for you.
Another day another big win for the super-elite. They're on quite a role, the fuckers. Hard to see what's gonna stop 'em
McConnel will save us
So under what scenario would the super elite have been delivered a 'loss'?
They can't lose when they own "both" parties.
Monopoly is a helluva drug.
Gold down another $24.00
Silver down another fitty cent.
Sweet Jesus.
why not?
we're about to get the old fashioned fiscal stimulus ... kicking sand in other countries faces ... MIC rejoices
Despite? More like "because of".
Red Team, Blue Team , so what ...... just another Wednesday of lawlessness for the boyz.
CRASH2: FED WITHDRAWS FROM QE, ECB DRAGS FEET ON QE, SINGER CALLS TIME, GOLD + OIL + ROUBLE PLUNGE…BUT ALL MAJOR BOURSES UP
http://investmentwatchblog.com/crash2-fed-withdraws-from-qe-ecb-drags-feet-on-qe-singer-calls-time-gold-oil-rouble-plungebut-all-major-bourses-up/
"Get TF Out of equities!" Check...a long time ago, hoss.
Wall Street is like being at a Kennedy last call bar event. Drunk and sober up in morning.
and not guilty of the rapes and/or dead girls in my car
Well what excuse do we need to prop up the markets anymore?
If it was being manipulated for the election - it's over and a good bunch of the Democrats are cleaned out of there.
Sounds like the market manipulators are pulling out, while simultaneously the thought that Obama has finally been cornered from passing any more damaging legislation has buoyed everybody else into going long.
Fuck whatever the price is, lets just BUY! YAY!
I like how they're suddenly saying sentient beings are now driving up indexes daily, not algobot Fed buy programs. That's funny.
No one needs silver and gold. And No one needs Oil or Gas.
My car runs on paper gasoline, and paper rubber tires.
Sarc/
The message from the "elections" is that we are in a DEPRESSION.
People feel: helpless, impotent, and oppressed.
Caught in the quicksand, and mad.
Up markets = a happy Elite.
A lot of people are asking themselves why they are paying all the secretaries, managers, lawyers, doctors and politicians, to make a profit on poverty, passing paper around in a compliance circle, while they watch their own children live in poverty.
Funny, the kids go into public education with high self esteem, and come out as adult juveniles with low esteem, begging the empire of peer pressure that stole their identity for an antidote.
And Hillary's path through a republican congress is going to be that corporations and businesses don't create jobs, that government, the ultimate corporation, does.
Should be interesting, watching the critters hold onto that assumption that oil and aircraft can only go up, while they go to war trying to prove it.
...always trying to prove that the individual, which they all depend upon, is irrelevant...crack me up.
Notice the irony of CA's position?
Life is not a competition for artificially scarce resources, but you will never convince the cavedwellers, surrounded by extra housing, cars, ad nauseum, of that. Empires operate exactly backwards, for a reason.
amazing that pretty much every gold and silver miner trades like they're going bankrupt. they're all back to June 2009 levels, as if the central banks hadn't gone batshit crazy in the meantime.
Maybe they are. What's the free cash flow on these puppies?
Dup.
For Washington to fix all that is wrong with our economy would be like turning a battleship in a bathtub. Today I make no predictions and have few expectations because when I awoke it was to a market where stock futures were soaring ever higher even as important economic numbers being released continue to come in below expectations. As the stock market continues to remain at historic highs please tell me what is so good? What is so much better?
As I see it the weight of carrying a large number of unemployed and people who have dropped out of the work force is wearing society down through attrition. The article below points out some of the glaring flaws in the argument that blue sky lies ahead as the stock market seems to indicate. As I look at a landscape of empty and under-leased buildings that once housed thriving businesses that provided Americans with good paying jobs I'm forced to ask, How are things getting better?
http://brucewilds.blogspot.com/2014/10/tell-me-again-how-things-are-getting.html
"the argument that blue sky lies ahead as the stock market seems to indicate."
recession dead ahead (start no later than Q1 2015)
you have been warned
oh, before the downvotes come ... i mean "official" recession ... and, yes, we've been in a real recession all along
I know a recession is coming because the people I know who own rental properties are going nuts raising rents and fees.....the bottom falls out EVERY time they're doing that!
BTW - Obama's press conference was a meltdown.
He was stumbling, mumbling, uttering the same platitutdes.
Two more years of executive orders and fooling the sheeple, then four more years with another puppet figurehead of the same platitudes and rambling metaphorical promises never to be fulfilled.
805 days, or even more depressing 1,159,200 minutes!
oh, doesn't ecb meet tomorrow?
might explain some of ramp
eurozone retail sales (sept) out
expected ... -0.8%
actual ... -1.3%
prior revised from +1.2% to +0.9%
Sorry did you say the "electorate" sent the markets to record highs? I wasn't aware that HFT algos voted.
It was nice to have John King breakdown the Black vote, the White vote, the Hispanic vote, the Woman's vote. But he missed the HFT vote. And the College Educated Hermaphradite vote.
what about his hebe wife Dana Bash - she looks like something dragged up from the depths??
hey that seems like good band name. the dysphoric electorate.
Head-bangers for sure.
I can hardly wait for the next PM dump at 00:30 tomorrow morning... oh joy....
Cool headline.
Speaking of Dysphoric.
Can you do something about the rash of pop-ups on zh?
adblock
BTW Visa is up over $50 in two weeks that is 25% and it is 8.1% of the Dow so reponsible for a huge amount of the recent rise!