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ECB Mutiny Sparks Late-Day Selling Scramble As QE Hopes Fade
Once again the internals of the market (advancers vs decliners, new highs vs new lows and trends) triggered a Hindenburg Omen as today's dump-and-pump on the European close and Draghi 'mis-characterization and clarification' headlines left stock green with an hour to go. Then came headlines from Die Welt that appeared to show Draghi has no majority and stocks tumbled into the close (with a small bounce late to get S&P green on the week). For the 2nd day in a row, Treasury yields fell 1-4bps (short to long-end), notably decoupling from stocks after Europe closed. HY Credit also pressed to wider wides after Europe closed even as stocks surged. The USD lost ground as EUR strengthened giving back half the week's gains (USDJPY broke 120 early but faded). Copper and Silver gained modestly, gold was flat, but oil prices slipped 1% lower back below $67. VIX briefly tested below 12.2 but ended the day barely higher at 12.6.
US equity futures end the day down from the release of ECB's "nothing" statement this morning... banged around by European headlines...
and USDJPY tried to rescue stocks during the ECB conference call... ran the stops over 120.00 then recoupled to fade lower with stocks... fun-durr-mentals
On the day, a rescue off the European close dragged stocks green - was then juiced by ECB QE headlines at lunchtime for record highs, but then faded into the close... with a last 30 ramp for good measure
which managed to get the S&P barely back into the green On the week, Trannies and Nasdaq are lagging...
VIX was actively bid this afternoon - perhaps hedging ahead of payrolls...
2nd Hindenburg Omen in 3 days - didn't end well before (2 days after FOMC) and tomorrow we have payrolls...
Bonds & Credit notably decoupled from stocks today...
as Bonds and stocks remain in different worlds ahead of tomorrow's payroll data...
As Treasury yields rolled over significantly...10Y under 2.25%, 30Y under 2.95%
And the USD closed lower as even with the late-day jawbone they could not rescue EUR back from its strength...
Oil prices slipped modestly on the day, silver and copper gained, and gold was flat (with noise around Draghi)
Charts: Bloomberg
Bonus Chart: New cycle lows for Shale oil stocks...
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SSDD.
NO! NO!! Not the dreaded Hindenburg (again). Next thing we'll see is the ole deer in the headlights (again). Until the printing stops, It's all Bullshit!!!
+1 ....or the Ron Burgundy clip as seen here: https://www.youtube.com/watch?v=FONN-0uoTHI
Hindenberg Omen should be renamed Cramerberg or Gartmanberg Omen.
Anybody knwo what happened to MSIGX?
draghi can't do a think without Merkel and Merkel isn't willing to spend her way out
Merkel is trying to recover with cuts
How'd she cut herself?
I do hope you're here all week. BTW, how's the veal?
Yahoo has an article saying that according to the IMF, China has officially became the Number One economy with $17.6 Trillion, overtaking the US’s $17.4 economy.
Are we still “exceptional”? Please? Pretty please? With a cherry on top? ;-)
Looney
http://finance.yahoo.com/news/official-america-now-no-2-150936444.html
They talk and look funny.
So we're still more exceptional than they are.
I talk and look funny too when I am drunk. So, I better go get "exceptionilized" as a skunk now. ;-)
Looney
Arragh! Off with his head, Mr Christian. Make him a lesson for the motley's to see and learn from. Half-rations of scury maggoty hardtack tonight, Mr Christian. Half-rations
How dare this news be leaked before the closing bell. Little Kevin, dispatch the drones onto the leakers...
On a separate note, I don't know if this dude in Dallas was ever in banking and finance, but he picked an astonishing way to snuff himself out:
http://dfw.cbslocal.com/2014/12/03/dead-body-found-in-west-dallas/
excerpt:
Witnesses tell CBSDFW they saw a man scribble something in Spanish on his van. He then tied one end of a rope around his neck and the other end around a fire hydrant. The man then drove off, decapitating himself.
He'll never be "head" of his class. (Austin Powers reference, yes.)
Yep. The comments section of the article I linked to is filled with Austin Powers references.
I have never heard of anyone doing this. What a way to go...
We'll acording to Sir IsaacNewton technically speaking "that was not a decapitation." His head was staying at rest while that which was in motion ("car, body") continued to move.
The rope being filled with friction was significant enough to the body part to sustain the momentum whereas the head part was able to sustain the rest part in an equal and opposite reaction.
Another GM coverup?!
That's no way to get a-head... In life... Ithankyou
Payrolls tomorrow, whether beat or miss, will im sure just tickle the algos pink.
Hopefully silver will go back on sale tomorrow...
I can use a few more ounces to top off with while its still cheap.
A mutiny is not really a mutiny until someone dies. (hint, hint)
The math is what it is, liabilities need to be "trimmed", start at the top.
I don't understand the headline, the S&P futures are down less than a point on the day. The S&P pulled back 7 points on the news and gained back all those losses. The release was a non-event, and a few point pull back on the S&P should not be treated as if there is any meaningful move. It's important to pull yourself away from the minute by minute ticks because the S&P is still sitting on a record. I'm sure that the jobs report tomorrow will propel the S&P up another 15 to 20 points, regardless of the actual substance of the report. It's clear that they are pushing the DOW to 18,000, most likely tomorrow. If not, definitely by next week.
Nothing is an event until a nail gun is found at the dead bankster scene, or invisible knife...and then the event is to be disregarded.
"Xi, you're top guy now."
"Thanks Vlad. Here's a bar of Au to celebrate!"
"Cool, you inscribed both our names and .9999pure."
Meanwhile, on the reverse side of the bar...
The passive microchip embedded 4 mm beneath the surface awaits an activation signal to be sent from the Chinese Embassy in Moscow.
Come on, dude. You really believe this PPP bullshit? In China, price of rice is 7 cents a kilo. In US price of rice is 2 bucks a kilo. (Alert, alert: made up numbers for purposes of illustration only) Therefore, 7 cents in China GDP is equivalent to 2 yankee dollars in GDP. Now we Numero Uno, White Devil.
Sure you are, Chang.
This will be the 7th up week in a row for the S&P. It only had one day where it had a notable pullback, this Monday when it dropped a whole 3/4 of a percent and it got back all of those losses on Tuesday. Aside from that, the largest daily pullback during this ridiculous run up has been 1/3 of a percent. This market is a total joke and is just being target managed to whatever the federal reserve wants the S&P to close at on 12/31, which will most likely be around 2100. The idiots, in their infinite wisdom, don't realize that it would make a little more sense to have more meaningful pullbacks to at least keep people honest and minimize systemic risk. Just like a rubber band, the tension will cause it to snap. In a normal functioning market, the retail sales numbers from Thanksgiving should have pushed the S&P down below 2,000, especially following the run up.
it is absurd--pushing on a string- the next downdraft will be very violent
"Full Bulltard" and ""riots in St Loius" have absolutely no connection as well. Look! An ivory billed woodpecker!
"Hindenberg Omen" has transitioned to the James Bullard Omen.
This Fed head comes out every time the market looks like it's going to fall.
a late day selling scramble (market fell 0.25% then recovered nearly all of the losses).
Mnn,, the Omen graph again...
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2...
First time I saw this it struck me the data is viable but maybe the syncopation is 'hinky'
What if we roll back the present 2014 (?) to the point just before the 2008 'snake'
Black graph red circle approx present day :
http://i1305.photobucket.com/albums/s556/ANDYWXM313/4warned_zps71643aa0.png
All other factors aside , does the overlap look right to you using your gut & MKI eyeball?
Watched a show about the Hindenburg . It was caused by gas and the weather they said. Just a fart in a whirlwind then boom