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A Gentle "Deja Vu" Reminder For Today's Energy Stock Traders
While Kyle Bass once remarked that "the brevity of financial memory is about two years," it appears for today's energy stock traders the period of goldfish-like memory is a mere two days... As the following chart suggests, the 'bounce' in XLE - the S&P Energy Sector ETF - is entirely decoupled from credit's uglier-and-uglier reality (just as it did on Tuesday, only to crash again yesterday).
Trade accordingly...
Chart: Bloomberg
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dead-cat bounce ...
ot...but it is so nice that they pulled the torture news from the main headlines...gotta keep the christmas spirit so we can all shop with a fucking smile...
Here's a headline for you:
U.S. court reverses fund managers' insider trading convictions
(Reuters) - A U.S. appeals court dealt federal prosecutors a blow in their crackdown on insider trading on Wall Street on Wednesday, overturning the convictions of two former hedge fund managers charged with making illegal trades in technology stocks.
Source: http://www.reuters.com/article/2014/12/10/us-usa-insidertrading-appeal-i...
Guido and Tony are vital to the Godfather's "operations", capiche?
The red and green charts are Advent colors and so the Justices were inspired to free the criminals..
Dead algo-bounce.
Equity markets diverging from credit markets. Never heard of anything like that happening before on here.
I've been reading ZH for too long. I'm so fucking jaded it's not even funny any more.TM
"Energy Credit" is turning up?
BTFD!!!
"My God! How are we going to get our year-end window dressing!?!?"
Slish-slosh, churn, rumbly tumbly.
Already done. Finished on Dec 2.
Remember AAPL's flash-crash on Dec 1? That was me. Sorry.
"it appears for today's energy stock traders the period of goldfish-like memory is a mere two days..."
No energy trader bought the S&P energy etf this way. It is intervention. When are we going to stop referring to the manipulations as if we are dealing with "markets" and "traders?" We have only been observing graphs of "farces" and "traitors" for some time now.
I prefer to call it the hand of God.....
OMG a Dow Component just went red, do something FFS
Seems like it is loosing a little steam, Maybe they are saving up for the 3:30 ramp, or awaiting a line shot news release?
Perhaps Boner doesnt have the votes, that would be precious....