This page has been archived and commenting is disabled.
Stocks Give Up All Friday's "Jobs Data Is Great" Gains, Bonds & Bullion Bid
Stocks were modestly weak overnight amid poor Japanese, Chinese, and European data, but as soon as the US cash markets opened, stocks surged higher algorithmically testing up to unchanged briefly for the S&P 500 and squeezing small-cap shorts (as usual).. until Europe closed. Stock started to lose steam but once Nasdaq and Russell broke red, programs slammed stocks lower and despite a late-day bounce, stocks gave up all the gains from Friday's "awesome jobs data" and then some with Trannies and Small Caps worst. Momo names all suffered - most notably TWTR & TSLA. VIX broke above 14.5 briefly, closing up 2.4 at 14.2. Treasury yields plunged 5-7bps at the long-end (1-2bps at the short-end) flattening significantly. Credit markets were clubbed - with HYG taking the brunt and ending at Bullard lows. Gold and silver gained solidly (as USD slipped 0.3% led by JPY strength) as copper fell 0.5% and oil price crashed again. Markets turmoiled notably into the oil pit close (margin calls) and stabilized modestly after... but the S&P 500 still closed below its 5DMA.
As we noted earlier, today signaled the 4th Hindenburg Omen in 5 days - quite a cluster...
Stocks were led by USDJPY apart from the US open to EU close period...
From Friday's payrolls print, all the major indices are notably red - led by Trannies (but but but low oil prices) and Small Caps (but but but growth)
On the day it's clear the ramp/squeeze early on getting the S&P briefly green and squeezing small caps shorts, then EU close, then dump, JPY-driven bounce...
VIX rose significantly today...
Credit markets were hit hard today - both cash and protection markets - and stocks caught down... Investment Grade credit rose a notable 2-3bps also.
Treasury yields plunged on the day...
As the divergence with stocks grows ever wider...
The USD slid 0.3% led by JPY strength...
Commodities was precious metals gains, copper down (China), and Oil battered...
Close up on oil the last few days - broken below dead cat bounce lows...
Definitley evidence of broad-based margin-calls and concimmitant impacts on other collateral being held around the Crude close.
Charts: Bloomberg
Bonus Chart: Some credit vs equity food for thought... interest rates for corporate debt has already gone up!!
»
- 6819 reads
- Printer-friendly version
- Send to friend
- advertisements -
Looking good for DOW 18K !!!
Butbutbut... closed off the lows!
As Jeremiah Wright, that poor excuse for a preacher, would say:
"And the Chickens.... Have come home to ROOST!"
Does a dead cat really bounce?
No. And please don't ask me how I know that.
US financials up again - give me a feckin break. Paper is still beating the real in this recent turmoil.
Yes, but eventually paper burns... the "real" just gets refined...
concomitant
nice word to learn today! thx tylers.
Conspiracy Fact: UN reports confirm Israel aiding ‘rebels’, Al-Qaeda groups fighting in Syria
Data is great...it give us chocolate cake!
BIS needed to see some down days so that the graphs look "normal." You can baffle people with BS but charts of "market places" where a random group of people buy and sell anything should see sellers winning some days and buyers winning some days. Mr. Yellen never studied probability and statistics at school or someone attended for her.
speaking of NFP
and "adjustments"
payroll report has 2 surveys - establishment (the employment number reported) and household
november 2014
establishment ... +321K
household ... NSA -270K; SA +4K
Table A-1
http://www.bls.gov/news.release/empsit.htm
compare that to november 2013
establishment ... +203K
household ... NSA +631K ... SA +818K
http://www.bls.gov/news.release/archives/empsit_12062013.htm
WTF?
BLS = Bullshit Lying Statistics
These days, charts are like paintings. Look at the chart for entertainment, but don't expect an accurate representation of reality. Of course some days are more Cézanne than Courbet.
... and recent oil charts are looking like Dali's Persistence. tick, tock, tick, tock, mutherfuckers.
It's amusing that the Tylers waste time analyzing all these markets that are rigged.
Complete with useless charts derived from the rigged data that everyone looks at and nods sagely.
The Redskins suck ... what else am i to look at?
So apparently they want to change the name to "The Washington Skinheads." Still waiting on the feedback on that one though...
What about those redskin peanuts? What shall the pc nitwits name them? ??? Buehler...Buehler
Why am I the only one who noticed that fed banker Lockhart's jawbone press release was release as soon as that flash crash started?
Obviously Lockhart had already written that jawbone and someone had set it up to be released algorithmically--as soon as the market had a drop.
Jawbone of an ass is powerful mythological symbology going way way back!
LOL for the dead cat in the OPEC chart.
"Markets" = sector rotation and churn; making butter with other people's money.
God save Harold Hamm.
Yes, oil can go to zero btw.
Stock markets should be headed down from here...
S&P 500
http://www.globaldeflationnews.com/sp-500-indexelliott-wave-update-for-w...
DJIA
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...