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Stocks Hit Record Highs As Draghi Promise Trumps OPEC Pessimism
Yesterday higher oil prices were the catalyst for higher stock prices. Today lower prices - after OPEC slashed growth expectations - were "unequivocally" positive for Americans and sent Trannies soaring. Of course, it was Draghi's promise that there's more to come that sustained USDJPY's levitation and thus stocks. Treasury yields slid 2-4bps higher on the day as the USDollar surged to +1.2% on the week after Draghi's chatter slammed EURUSD below 1.24. Gold and silver were flat (despite USD strength) as oil prices dipped to $78. HY credit diverged notably after EU closed as managers appeared to protect bond positions into the jobs data. VIX pumped then dumped and cracked back to a 13 handle as stocks closed at record highs (right before the uncertainty of tomorrow's NFP).
Since Bullard's utterance, we have had 12 up days and 4 down... (look at volume!)
Spot the difference...
Trannies were the day's big winners...
From Draghi's promise...
As VIX was smashed back under 14...
Crude and Stocks can't make up their mind on the correlation...
Financial stocks are screaming higher... financial credit markets are not... does this look sustainable?
HY credit was not playing along either...
Treasury yields pushed 2-4bps higher after Draghi promised moar... 4th day in a row of jiggery pokery between US open and EU close...
The USDollar surged after Draghi's promise, now up 1.2% on the week...
EURUSD - spot the Draghi promise...
Gold and silver managed very small gains on the day even as the USDollar surged.. but oil slipped lower...
Charts: Bloomberg
Bonus Chart: It's that time of the month...
It's 'that time of the month' pic.twitter.com/rqLgDDLA4s
— Not Jim Cramer (@Not_Jim_Cramer) November 6, 2014
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appears to be trouble brewing in Ukraine again, various reports out there today, and Gold? DXY going crazy Gold & silver held up... guess to be smashed at 0:30?
tomorrows NFP will miss by a mile.....
seasonal adjustments get rid of all uncertainty. it will be a blow out jobs number....that sends stocks tanking by close.
stocks cant go up if it misses / s...........unless they are already campaigning for killary in 2016
that's an interesting call, bad news would be ...bad news? hasn't happened in years
edit : missed the /s
i meant if it "beats" so i can see your confusion
Putin might bust a move here. Hard to tell but I wouldn't be surprised. "Facts on the ground." With total mayhem breaking out in Europe I would be surprised if the EU doesn't respond.
Polish military has already been forward deployed to the frontier in anticipation of an attack. Have no clue who would be backing a direct move through Ukraine proper or towards Kiev proper...better secure those Prippet Marshes though.
take the meds, really it's better for everyone
Why don't you remain a retard and otherwise boring.
can you give us a source and estimated number of Polish military deployed to "the frontier"(?) - otherwise stfu
Putin move makes sense here, war would be bullish for oil..
"does this look sustainable?"
I would ordinarily say "no," but the last several years called and told me it is.
I'm going with the full moons vs. VIX thing. Sounds as reasonably and believable as anything else the last five years.
It's every bit as sustainable as any other bit of fakery, no?
LOL!!! these guys crack me up
https://twitter.com/RampCapitalLLC/status/529732970396262400
Well, other than they misspelled "MOAR!"
lol!!!!
Efficiency at its finest.
HY credit not playing along, WOW, something is amiss! i'm going all in short SPX!(hasn't worked for months but...) these divergences always resolve themselves, right? hello??
So you're long, short or just bullshitting?
isnt it fucking incredible how day after fucking day these mother fucking bastards pump the s&p and dow and nasdaq, and there are always reasons to fucking buy, every 0.01 percent dip is bought, yet things that actually have real value such as gold and silver r smashed on a weeky basis.
the shit that these fuckers pull off is insane.
also, i dont give a fuck if they said they ended qe, that is total fucking bullshit. if that was true, the ''market'' would have collapsed already. when the only thing pumping up a ''market'' leaves the ''market'', it collapses. they have not ended qe despite what they have said.
They've ended the QE announced to the public. They haven't ended the private QE.
It's QES - the 'S' is for 'stealth'.
QE-Y (qe-yen)
Note to self:
Never forget that the Fed is on the bid across all assets at the end of everyday. Buy everything only. Always.
Except PMs.
Dupe
Let this fucker crash I have alot of preps waiting.
I'll gladly pay you on Tuesday for a Greek levered 3x ETF today.
Strong dollah should be good for USSA exports and Q4 GDP ...cough cough
"Since Bullard's utterance, we have had 12 up days and 4 down... (look at volume!)"
With all respect....
The "Bullard" bottom is actually the bottom of the long term up trend channel on the monthly chart (almost to the tick).
For the past 20 years, volume is always lower on up trend moves. The volume only usually comes in at the end of a move when banks/govs step in to shove the fist up the ass of the retail investor.
Those old enough to have watched children’s’ television from ’69-’72 will correctly view this as an H.R. Pufnstuf market: a shipwrecked boy, Jimmy (stock market) is protected from the evil Witchiepoo (reality) by the friendly dragon Pufnstuf (central banks).
In viewing hourly charts from the past 3 weeks, it’s hard not to become nauseous when thinking of the Pufnstuf theme song:
H.R. Pufnstuff,
Who's your friend when things get rough?
H.R. Pufnstuff
Can't do a little cause he can't do enough
http://www.youtube.com/watch?v=J_oy6aXizZw
damn, for all these years i thought that show was about smoking pot,
what's next - Sigmund the Sea Monster is really about GS/ IMF and World bank? lol...
". . . i thought that show was about smoking pot . . ."
Just swim upstream, Squid, toward the Eccles Building, and tell me you don't smell wacky tobacky coming from the ceiling vents.
ahh, it's all making sense now, ben shalom's beard, yellen as witchiepoo, etc.
and the whole not-making-any-sense part, because they're all way too many tokes over the line..good call
You're killing me again, Squiddy. A careful reading of my post reveals the counterintuitive nature of the bad-guys-are-good-guys meme, just like here at ZH. Yellen is Pufnstuf, Fisher is Witchiepoo, tryin' for a does of reality. Following this logic, Freddy the talking Flute, Jimmy's toy, targeted by the Witch (to get it to shut the fuck up), is Bullard, got it?
One of his tentacles is wrapped around his balls apparently.
lol - sorry if you took it the wrong way KCS - i like your analogy, was just playing along...
and plus 1000 for the Pufnstuf reference and link!
still think dallas fisher as pufnstuf, and yellen = witchipoo, but creative minds often disagree
finally figured out what all the charts look like ... a chinese reactor ... held together with duct tape
Well all we need now is the BOE to print a trillion and that is it....DOWN FROM HERE! The game is up!
Draghi promises and promises ... and nothing ever happens. When is the market going to call this fuckers bluff?
"When is the market going to call this fuckers bluff?"
The bots aren't that smart. They just scan the headlines.
Chickens coming home to roost .
Maybe just dinosaurs
Think positively .
http://andreswhy.blogspot.com/2014/10/dinosaur-death-by-dwarfism.html
On the other toe ,
Wait a bit .
This baby is still live and kicking .
No need to bury a lethargic economy .
Just give a kickstart , starting with the politicians .
And it does not need a stimulus now the little monetary tiff between Japan and US has ended (sort of)
This is good !
Taking in each other's washing is working .
See
https://www.academia.edu/9160541/Laundry_Economics_
or
http://andreswhy.blogspot.com/2014/11/laundry-economics.html
Will this shitshow errr, a "market" ever end???
The USA can go ahead and end QE. It means little at a time when Japan has vowed to print to infinity and never look back. And now the EU, a 500 Million person economy, has vowed to print All it Takes". So liquidity to drive markets higher will be plentyful and carry trades to specualte with will again rule the financialized world. If printing fiat was the answer to no growth and debt ridden economies, we would have long ago soleved the problems. But since printing is NOT a solution, we can only print more and more and more. Equities are where trillions in fiat go to find a home after being created out of nothing.
No Volume