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Texas Tea & Treasury Yields Tumble As Trannies Top The Day
Never in the history of US equity markets has the S&P 500 closed above its 5-day moving average for 28 days in a row... until today. While most indices tracked sideways in a very narrow range today, Trannies outperformed (helped by weaker oil, but even when oil rallied intraday Trannies rallied too). VIX tracked back below 12.5 with an inverted term structure for the 5th day in a row. The USD lost ground for the 2nd day in a row, driven by EUR strength (with notable AUD weakness extending). Silver rallied as gold flatlined and copper tumbled after US GDP beat. However, the two big themes today were the collapse in oil prices (as rumors/news ahead of OPEC sent volatility soaring) to a $73 handle - the lowest close since 2010; and the plunge in Treasury yields (with a very stroing 5Y auction and big block trade in TLT suggesting short-covering). Finally, AAPL broke above a $700 billion market cap briefly today but was unable to hold it.
28 days and counting... will the S&P ever be allowed to break its 5DMA
On the day, Trannies led the way... though they finally started to get the joke of what collapsing oil prices means into the close... Russell 2000 was rescued at the very last minuet to close barely green, S&P red...
We thought this was interesting, YTD performance of some of the crazier momo names...
USDJPY and stocks lost some correlation late on...
The disconnect between stocks and bonds is becoming irrationallerer...
and HY energy credit names were hit hard today as stocks decoupled from credit after Europe closed...
FX markets were dominated by a 2nd day of USD weakness/EUR strength but AUD weakness is also notable...
But bonds were notably strong today with 30Y back under 3.00% and 7Y back under 2% - back at one-month lows... (2Y move is a roll so just look at today's action)
With a notable block trade popping up on TLT suggesting someone was forced to cover shorts... (note there was a big block sell in TBT at the same time)
Silver rallied strongly, gold was flat but copper and crude oil was smacked hard today...
As Crude dumped, pumped, and dumped on OPEC rumors...
Trannies just can't make up its mind if low oil is good for them or not...
Charts: Bloomberg
Bonus Chart: AAPL hits $700 billion market cap briefly as XOM and MSFT fight for their positions...
Bonus Bonus Chart: For those that enjoy it, we came very close to signalling another Hindenburg Omen today and we know what happened last time...
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Wow, the market and economy are cranking, so yeilds must be crashing...?!?!? Wait what?
Stocks up, up and away... In the past three years, the S&P 500 has done so much better than gold. Over the last 20 years, gold is up some 6% (on average per year) whereas the S&P 500 is up some 8% per year (not including dividends).
So, I have to ask:
"What if We BEARS are Wrong?"
http://goo.gl/Kg7Nth
i'm pretty sure at this point we can remove the "if." been a bear for 3 years to the tune of the s&P doubling.
Best bull market ever....LAKE up 40%
If we are wrong, then hyperinflation is most definitely on it's way. With 7+ billion, and growing, it's not like this is a "win" either way. The math and liabilities are what they are.
Like hyper deflationary instagflation or something, basically everything will be plentiful and cheap, but you won't be able to get it unless you have proof you're buying x number of stawks this week and have proof you've kissed Dear Leaders ass 7 times this month.
Not quite, most essentials will simply not be available. Black markets will thrive, shit, they already are. the worst thing that could happen is the .gov makes all forms of debuachery legal and taxable. I know some "farmers" and "liquor poviders" that are doing very well right now.
The fraud is so "in your face" it's nauseating.
Remember, the S&P went mostly up for the past 35 years with yields dropping the entire time.
But yes, it is still a fraud.
Miners popped nicely even with gold unchanged, especially in the late session...
I agree and I don't know who else saw the above average volume in GLD in the first hour of trading. Even though the price didn't move, the miners went up. I bought NUGT yesterday and I think in the very near term, TLT and GLD, as well as the miners are setting up for a big move higher. What happens to stocks, I don't know but I won't go short until I see a trend change on the indicators that I use and that could be any day.
these charts would look better if you captured them with a camera on a stick.
I'm agog over that double-bonus chart with the dreaded Hindenburg Omen.
Rodney Dangerfield (if he were still alive):
"What do you get when you combine 'Hindenburg' and 'The Omen' = ? Like Lee Remick, stocks get tossed over the balcony." (rim shot, cymbal)
"But seriously, nothing -- I mean nothing -- can derail this stock market. I saw a ‘Hindenburg’ hit the tape, and the next day it was taking overhead shots at the Notre Dame game" (double snare-tap, cymbal)
Santa Claus is coming to town!!!!!
More like, Hanukkah is coming to town...
Today's market in a phrase: technical goal-seeking, algo-driven, chart confirming, market manipulating fraud; FTW!
people are going to feel happy |: optimistic |: buy shit after noon tomorrow, thinking of fucking off early for a long weekend holiday, and maybe the chance to fuck the wife.
The sun will come out...
tomorrow.
Please, the wife is for show. Clearly you are not in the 0.1%.
Nice!
My wife made it clear that "blowjobs were for dating". I love and care for her dearly, that's why I never let her perform such "horrible" acts.
That's some nice headline crafting, Tylers.
I know the top is near/in when I heard the guy vacuuming my car seats tell his buddy cleaning my floor mats how good his tech stawks are doing.
LOL!!!!!!
IF that is true I think you may be right lol.
That 5DMA looks like fucking Boot Hill.
Great new word, Tyler(s) - irrationallerer.
I'd say this is all bullish, but that's just the past 5-1/2 years talking.
wait, "bonds weren't buying it" again? fool me once, shame on me - fool me 467 times since 2010?, won't get fooled again!
HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says
By Erik Larson
Nov 25, 2014 3:18 PM
http://www.bloomberg.com/news/2014-11-25/hsbc-goldman-rigged-metals-pric...
excerpt:
"Goldman Sachs Group Inc. (GS) and HSBC Holdings Plc (HSBA) were sued in New York over claims they conspired for eight years with two other companies to manipulate platinum and palladium prices in what plaintiffs’ lawyers say is the first class-action lawsuit of its kind in the U.S."
In January 1st 1981 the market cap of the entire stock market was 1.4 trillion dollars. Today one stock was half that. A company that makes cell phones in China. On January 1st the DJIA closed at 964, and GOLD closed at $590. Gold has doubled the Dow is up 18x. Kind of strange how both the Dow and US debt have both risen 18x 1981.
Looks like the DJ Transports go perpendicular.
Don't let the trannies on top. Its bad for your self esteem.
Ha!
Yeah, but some o' dem freaks is huge!
Anyone know what is going on with gold futures on sgxnifty? http://imgur.com/cApwcOT
Barcharts.com has it moving too. http://imgur.com/Nz3bHIk
http://www.barchart.com/commodityfutures/Gold_Futures/GC?search=GC*
Gotta be some kind of contract rollover bug.
"The disconnect between stocks and bonds is becoming irrationallerer..."
Why should stock prices and bond yields move exactly the same? Please pull up a 50 year chart of that one.
If they drop it now it'll look like QE didn't "work" and that's trouble. They want to emerge as saviors of the market so don't expect a collapse anytime soon. Uphelding sp500 by any means necessary until propaganda sinks deeply into sheeple and there's a sufficient scapegoat to take the blame. And then sheeple cries for an another "rescue".