This page has been archived and commenting is disabled.
Small Caps Slump For 3rd Day - Worst Streak Since "Bullard Lows"
Overnight weakness from Japan (NKY -3%) and USDJPY slowly leaked away as Europe was bid - bouncing higher on Draghi's SovQE "whatever it takes" comments (and multiple broken markets), but once he stopped speaking stocks faded to the lows of the day at the European Close. Once it was just the American algos playing, the S&P and Dow ripped back to green. However, Small Caps, Nasdaq and Trannies were not playing along, nor was VIX or HY Credit. The USD surged 0.45% (on EUR weakness) which stalled the bounce in commodities. Gold flatlined through the US session (-0.25%) with Silver -1% (bouncing this afternoon). Oil prices slipped 0.5% again (but above Friday's lows) at $75.50. Treasury yields rose 1-2bps on the day (but 5-6bps off the overnight lows as Europe opened) but flatlined during US session. Most notably, it seems many feel like Carl Icahn that a major correction is coming and hedging via VIX and HY credit was significant.
- CARL ICAHN STILL HEDGING AGAINST STOCK-MARKET DECLINE, BELIEVES THERE WILL BE A 'MAJOR CORRECTION'
- ICAHN SAYS CORPORATE EARNINGS ARE ‘SUSPECT’: REUTERS
- ICAHN: "YOU HAVE TO BE CONCERNED" ABOUT GLOBAL GROWTH: REUTERS
Last six days S&P close: 2038, 2039, 2038, 2039, 2039, 2041.
Quite a divergence in major stock indices today... with Small Caps slammed at the close
But realistically, the S&P and Dow merely crept back to the futures close from Friday.
This is The Russell 2000's worst streak since the Bullard lows and the start of the drop last month...
HY credit is not buying this exuberance...
Nor is VIX...
But on the day, Treasury yields surged in the Europe session then flatlined in US session...
FX markets were a one-way-street of USD strength until Draghi stopped speaking
Oil prices were almost not mentioned today - but fell - along with the rest of the commodity complex...
Charts: Bloomberg
Bonus Chart: While USDJPY levitated back during the US and EU session, Japanese stocks hardly liofted at all...
»
- 14723 reads
- Printer-friendly version
- Send to friend
- advertisements -
So... when does the S&P and DJIA finally catch down to HYG? Zero Hedge has posted these divergences regularly over the past two years and we have yet to see a resolution to the High Yield Credit vs. Equity divergence. I guess when it comes it's going to be a bitch.
the author selects a short period of correlation and that is the "base". a short period of divergence thereafter is not a black swan
Divergence Bitchezzz! he he...couldn't resist.
had enough of that old jew cunt Icahn, anyone else?
How's Herbalife treating you, you slimy fuck please die "already"
@ 3minutes:
https://www.youtube.com/watch?v=VFxagX2r68Y
they guy who speaks in the video is also part of the tribe, i mean fucken 400k of flying point was not cheap back then
yes but hilarious, IMO... Icahn has been robbing people for decades,
and from scumbag LBOer of distressed airlines, etc - to "global growth" guru ...wtf?
purely a Zio media phenomenon, brought to you by ___
Squid, understand that all his financial assets will simply make him a target should social order and stability break down. All of these folks, Icahn, Tepper, EInhorn, you name it, should be scared as hell. I certainly wouldn't want to be in their position. Those with modest financial wealth and modest lifestyle will be safer and happier... People who are smart will tie their wealth up in private productive enterprises that will generate an angoing flow of value, even if we have a reset. That's the way I'm playing it at least....
But, no point in the anti-semitic crap... It is the structure of the financial system, not any one group, religion or race that is to blame. Frankly, China and Japan are responsible for much of the current insanity as they try to continue a production / export oriented growth ponzi (while we try to perpetuate a consumption ponzi).
surely you got the gist by now. if you're not an anti semitic sucking on putin's cock you don't belong here
what was "anti-semitic"? stating the fact that Icahn is a disgusting old kike? i mean jew?
your entire sorry existence. the minor remorse you display on the edit is insufficient
what "remorse" and what "edit"? wtf? re-writing history again? I guess it has worked so far...might as well keep trying
at least be honest with yourself whilst you polish your nazi memoribilia
at least answer the question, while you polish your 2 inch pupic, passed down from generations of inbreeding?
yes whatever but let's not stray tto far off topic from your anti semitism
And yet the intelligentsia will be surprised when it all falls apart because they never saw it coming... /sarc(maybe)
no one wants to be the "loose nail" ... much better (career wise) to be part of the herd
anyways, when it blows (and it WILL) they'll find a black swan to blame it on letting them off the hook ... to be an "expert" for another day
treasury yields surged at 8:15AM, as the NY FED ramped tbonds down in preparation for 9:30AM stock market open. they were down significantly until then.
Good day,
I am Mrs. Sara Zamaz from Malaysia married to Mr. Andrew Zamaz from South Africa, for seven years now we have two kids. I am the manager bills and exchange at the foreign remittance department of CIMB BANK here in Malaysia. I have a business proposal which I believe that will be a very Good opportunity for both of us so I decided to contact you on this business opportunity in our Bank, the business is this I discovered an Abandoned sum of 77.7m US Dollars (Seventy Seven Million Seven Hundred Thousand United States Dollars) in our safety deposit vault that belongs to one of our foreign Customer Mr. Anderseni Ferrara who died along with his entire family on 11th March 2004 in a ghastly train explosion in Penanag , Malaysia. Since we got information about his death, we have been expecting his next of kin to come over and claim his money because the management can not release it unless somebody applies for it as next of kin to the deceased as indicated in our banking guidelines but unfortunately I learnt that all his Family died alongside with him in the train explosion leaving nobody behind for the claim.
Since you are a foreigner and the deceased customer is also a foreigner, them you can make this deal with me, I have the entire secret information’s of this deposit which will help you to claim this money as the next of kin. It is therefore upon this discovery that I decided to make this business proposal to you and the money release to you as the next of kin to the deceased since nobody is coming for it and I don’t want this money to go into the Banks treasury as unclaimed funds or declared to the Government of Malaysia, once this is done the Government of Malaysia will confiscate the funds, which is not good for both of us. I agreed that 40% of this money will be for you as a foreign partner, in respect to your acceptance to do this business with me, while 60% would be for me and my family.
Therefore to enable the immediate transfer of this fund to your account as arranged, you must apply first to the Bank as the next of kin of the deceased indicating your interest of claim of your inherited funds which I will assist you with guideline on how to make the application, upon receipt of your reply to the above email subject, I will send to you the text of the application which you will send to the Bank. I will not fail to bring to your notice that this transaction is a hitch free that you should not entertain any atom of fear as all required arrangements have been made perfectly. At this moment you should feel free to contact me back through this my email as soon as you receive this letter. You should understand that this should be kept very confidential because is a deal that must be carry out confidentially, let it be between you, me and my husband only. This is the only way we can achieve success. I will level the whole arrangement here in the Bank for the transfer to be approved immediately.
Please take note that my Husband and few officer in the Bank I have discussed this business with and we both agreed to do this business with you and have better life’s together, he answers my phone anytime I am at work or not around, for the security of this business, please feel free to mail me and leave your full name, contact phone and fax numbers to enable me get back to you as soon as possible.
I await your email acknowledgement as soon as you receive this email, to enable us proceed.
Thanks and God Bless.
Best regards,
Mrs. Sara Zamaz
She didn't leave an email...what a tease...
maybe she will cameo in Asian Gang Bang #127 (Singapore Sling)
s.zamaz@irs.gov
Dear Mrs. Zamaz,
Great to hear from you. I am pleased to help you out with this matter and look forward to the speedy arrival of 77.7 million dollars in my offshore account-- the details of which I am sending to you as a file attachment.
Since you are Malaysian, you may have become acquainted with the fate of several airline pilots who made the same offer to me but failed to deliver.
Sincerely yours,
BHO
Dear Mrs Zamaz,
As it turns out I have a billion dollars lying around that I have no idea what to do with. Please furnish your banking details and I will transfer immediately.
Kindest regards and fuck you very much.
oooo ... looks like we're getting some data to chart half lifes of bullards utterances ...
evershrinking, no doubt
But, but, but . . . the fucking Russell STILL hasn’t filled the Japan gap, even after announcing a ‘surprise’ recession, and it’s taken so damn long now the 20 DMA is waiting right at the gap, with the 200 MA just below. Any chance algos let it go below these levels before Yellen’s FOMC garbage disposal ipecac regurge? (ahem, the proper answer is: ‘respectfully, fuck no’).
Unless the big boys are planning a bloodbath, and engineering this pathetic stasis to back the truck up over and over, the Japanese chicanery and European dick tease seem to have ushered in the final death of trading.
Or . . . (he quickly pivots, recalling the power of positive thinking), is this the death of the ‘stimulus’ era, not regarding gov’t actions, but market reactions? Draghi could only impact one 15m candle today, just barely; by past standards we could have seen 150 pts by noon. The fact that we Russell day traders could profit handsomely short the Monday pre-FOMC, well, let’s not get disconsolate, perhaps something’s in the works . . .
Wasn't there a headline just 3 Days ago - with Bullard saying something like 'just kidding'?