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Stocks Up, Bonds Up, USDollar Up, Gold Up, Oil Up Ahead Of Draghi's Possible Let-Down
An utter VIXnado (below 12.25 in the last 30 mins) sparked a late-day buying panic in stocks ahead of tomorrow's all-hopeful ECB meeting (because nothing makes more sense than lifting all protection ahead of a potentially massive market event) although the last few minutes closed weak. On the day high beta Trannies (despite higher oil) and Small Caps surged once again (as the market ignored PMI and ADP and loved ISM) as Monday's 'excessive' selling of "most shorted" names has been face-ripped back the last 2 days. Treasury yields at the long-end fell back today after 2 days higher (with 30Y back below 3.0%) but <7Y were 0-2bps higher. The dollar roseonce again as EUR dropped to 1.2301 (-17 handles from Draghi's first hint). Depsite USD strength, gold (over $1210) and oil (over $67) pushed higher but silver and copper slipped. In summary, buy back all your hedges, buy stocks, buy bonds, buy dollars, buy gold, buy oil, bye bye sanity.
@MarketPlunger @dmwlsw pic.twitter.com/Frtb1YpZ1x
— Stalingrad & Poorski (@Stalingrad_Poor) December 3, 2014
"Most Shorted" stocks have been squeeze at both opens today and yesterday...
We hope everyone enjoyed today's efficient market algo freakiness around munchtime....
Longer term view of stocks touched by that algo today pic.twitter.com/idS9cv0pSo
— Eric Scott Hunsader (@nanexllc) December 3, 2014
As VIX was monkey-hammered lower today... (because nothing makes more sense than lifting all protection ahead of a potentially massive market event) but coul dnot sustain it into the close
Which pushed stocks to record-er highs (for Dow and S&P) with s weak close
and Trannies and Small Caps higher on the week
Treasury yields fell today (bonds were bought)
As The Dollar surged once again (on EUR weakness ahead of tomorrow)
EURUSD down 17 handles since Draghi hinted at QE... at 1.2301
Despite USD Strength, oil and gold gained on the day (silver and copper did not) but since OPEC's initial leak, oil is down around 12% and Gold up around 1%
Charts: Bloomberg
Bonus Chart: Interesting support each time Brent spot has dropped to 0.0575 ounces of gold... (or 0.07 Ounce peg with +/-0.01 ounce band)
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Fuck all that shit, buy physical gold and silver.
https://www.youtube.com/watch?v=IGYaFMFU63U
Physical Golden Sabre and Silver Tip ammo.
Ok...lets round out this gong show of a trading day with some humor from the one and only ass clown Gartman:
http://finance.yahoo.com/video/gartman-putin-not-strong-smart-220700248....
Guess its time to go long the Ruble and Putin...
Kim Jong Un (world's most dangerous frat boy) in the news again:
http://www.cnbc.com/id/102236251?trknav=homestack:topnews:2
Anybody who happens to have the same name as him (I bet there are thousands) all have to get their names changes so he's the ONLY person in the country with that name. Guess what happens if you don't comply.
I gotta tell you, I wasn't a big fan of his father, but I'm really warming up to this kid. He's absolutely bat-shit crazy (probably why he got along so good with Rodman). I can't wait to see who he executes next.
Heard he is going to launch a new national currency shortly: the Emmentaler.
But seriously, if this kid is already this disturbed in his early thirties, he's not going to die peacefully in his bed like his dad and granddad. Caligula did not make it either because he became a certified nutcase too eagerly and too soon in his reign.
Good to see someone else knows about the Gartman's reputation for bad advise.
Actually it's not bad advice because I believe he does it on purpose to manipulate market to his advantage.
He has never given a good trade to CNBC except for Alcoa which I have been advised was after he took a massive position.
How many fucking aliases do you have on zerohedge. Burt Gummer,BillyLulz,?,?
Jawbone, jawbone, jawbone....
The US dollar might be unattractive, but I hear she does anal.
Better yet, I hear she swallows even after it's gone anal.
EUR goes up over next 12 months with their proposal for a better eco(logical)nomic model
Possible? The usdx has completely ignored bad macro news for 2 weeks.
The usdx has risen 1.2% on the back of "nothingness" over the last 2.5 days.
Draghi is going to use some cock·a·ma·mie wording, that he's got the Germans on board.
Germany, for anyone paying attention, is NOT even close to a sovereign bond buying program by the ECB.
Even if! ( BIG IF)The clowns in Brussels suprise with a new circus trick, the macro issues involving stretched currency valuations have opened new issues.
Sounds of the moarket closing: *faint buzzing* mmmmmmMMMMMMOOOOOOVVVVVVVV!!!!!!!!!IEEEE!!!!BEEP! silence
Just like crashing a jet car into a mountain.
The oscillimeter is pushed to "full moar"...
I for one, see fantastic opportunity in commodity based currencies and products. They're back at 5-10 year lows.
They offer fantastic yield potential, and usability.
It's no suprise the Australian dollar still yields 2.5% on your trade is amongst the highest yielders in the G-20. Look at how Australian bonds have been hammered down in yield.
The risk is that the Australian bond market will sell off and weaken the Australian $. You still get paid 2.5% carry on your F/X trades. The Australian q-3 gdp didn't miss yesterday. Q-2 was downgraded to 2.7% and Q-3 came in on TARGET!~ 2.7%
As I write this, the Dow and Nikkei are once again at parity, so now there is an evens choice of which heavily indebted country you can put your money into...
The Russian Rubble has been pounded down. Last I checked the MIcex was at a fraction of the SPX~PE ratio.
Something like 4:1. Add the massive Rubble sellof? Who knows , you could be next Oligarch.
Same Fucking Shit. Every Fucking Day.
Anyone around who can point me to total quantitative easing per central bank... unable to see global increase in monetary base.
Since Holy Water and Garlic aren't working on taming Wall St or DC, do we escalate to Silver Bullets?
Or should we add Ag-coated swords, axes and Ag-coated French G-blades for good measure?
Maybe we should buy, buy, buy. Anything to keep the falling VoM going -- no matter if it's a case of BTFD or BTFATH. Buy stuff, buy stocks, but buy, you damn sheep!
p.s. Tyler, now I'm getting junk calls from FL cruise lines, offering me TOTALLY FREE Caribbean Cruises. Wow! It's not because of my avatar, is it?
The only sure fire way of ensuring the market goes down (even crashes) is to go long (BIG) !!!
Works for me every time :-(
Regardless of whatever drivel Draghi spits out...
Stocks
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...
UDS
http://www.globaldeflationnews.com/u-s-dollar-indexelliott-wave-update-f...
10 YR Treas
http://www.globaldeflationnews.com/10-yr-u-s-treasury-index-yieldelliott...
Gold
http://www.globaldeflationnews.com/gold-elliott-waves-forecast-a-multi-m...
Let's look at the FACTS, instead of hypoerbole and BS. Market is 25% above historical mean/median Market is 68% above historical Schiller PE10 http://www.multpl.com/
Which FED trader is that?
MOAR CLUSTERFUCK PLEEZ!!!!