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Dow Over 18,000: Stocks Surge To Record-est Highs, Bond Bloodbath Ensues
Hhhmmm....
1000 Points in 5 days... Dow 18,000... All-Time Record-er Highs... Best GDP In 11 Years... Shitty Durable Goods... Treasuries Crash... Crude Surges... Biotechs battered
What Tepper is worried about...
which fits with Yellen's guidance for rate lift off...
5-Day run in stocks is best in over 3 years...
Nasdaq underperformed today... and Trannies led (now they like higher oil prices?)
Spot the odd one out...
Weak close as Ebola headlines were spotted...
Nasdaq weakness led by Biotechs.... which are now unchanged from FOMC
Treasuries dumped today as GDP boxes Fed in even more... worst day for 30Y yields since July 2013
As 2Y Yields highest since April 2011...
USDJPY was tick foir tick with stocks today having caught up... as did Treasuries...
The USD rose into the US open then stabilized - up 0.5% on the week... of coursse JPY weakness pumped stocks (down 1% against USD on week)

WTI bounced back briefly into the green; copper slipped lower as gold and silver trod water...
Since The FOMC, Gold and Silver are down 1.5 to 2%...
Crude stuck in a range... Tagged $57 briefly and dropped...
It's all becoming just a little too easy and predictable...
With the wind down of the record 2014 trading slump now in its final days (although judging by volumes throughout the year one may have a difficult time noticing just when the holidays began and ended), the already entertaining zero-liquidity market moves are sure to provide further amusement today in the context of the US economic data bonanza on deck, which includes Durable Goods, GDP, Personal Income and Spending, Richmond Fed, UMich, and New Home Sales. Beat or miss, all of the above are guaranteed to send the S&P to higher recorder highs because in the multiple-expansion euphoria blow-off top phase nobody cares about such trivia as fundamentals or the economy, especially when Japan and Germany are about to monetize all of their gross issuance. Just remember to occasionally keep an eye on the preferred rigging correlation pairs: the USDJPY and the VIX, whose every illiquid jerk will be followed by Citadel & NYFed's algos tic for tic.
Don't you think?
Charts: Bloomberg
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CNBC had the graphic all ready: "DOW 18,000!" and a metal bull with glowing green eyes.
A demonically possessed graven image - how appropriate.
All important for bankster bonuses to see market highs leading into Dec 31st. January can go to hell.
@wintermute : Ding, ding! We have a winner! Also, don't forget that silver will hit the yearly low on Dec 31st. Starting Jan 2nd I expect an entirely different tune to begin with moar' oil doom and gloom. Until then it's nothin' but Unicorns, Spotten Ponies and Rainbows. Merry Xmas..
Of course yield would catch Spy and not the other way around
They already called 19,000 before the end of the 1st quarter.
In that case, January can't get here fast enough...
I am kicking myself for not shorting UVXY when it was $32 just 5 trading days ago because i KNEW this rally would happen. I'd rather just short UVXY than to go long all this garbage. My plan has been to wait until the last trading day in dec and get long UVXY but I could have made a bundle had I not been a pussy and shorted UVXY at $32, KNOWING we'd get that santa rally. Everything played out so perfectly for them.
Twas' two days before Christmas, and all through the Fed,
The minions were cheering,"Volatility is dead".
Portfolios were leveraged, with nary a care,
With assurances that liquidity, would always be there.
The indices climbed to new record heights,
With visions of higher; the Fed you don't fight.
My terminals blinking, and I at my desk,
I'd finally conceded, there was no more risk.
When in emerging markets there arose such a clatter,
I sprang from my seat to see what was the matter.
Away to the Bloomberg, I flew like a flash,
Reviewed all the headlines and began to raise cash.
Europe was crashing, with Japan in more trouble,
China was slowing, and our markets a bubble.
When what to the pandering press should appear,
Soothing words from the Fed, and again markets cheered.
The algos u-turned, there'd be no more sellin',
I knew in an instant it must be Janet Yellen.
More rapid than eagles, her policies they came,
And she whistled and shouted and called them by name.
On stimulus, on TARP, on QEs 1, 2 and 3,
On Abenomics, on LTROs, the money is free.
$13TR and counting, we'll print 'til we die.
Prosperity from nothing, it's as easy as pie.
And then came the punchline, they'd found a new fix.
The Fed was preparing QEs 4, 5 and 6!
I often have asked, just how high is high.
I no longer question, I know to just buy.
The chairwoman smiled, a right jolly old elf.
The con worked again, she was proud of herself.
Fundamentals don't count, only faith in the Fed.
Investors the world over have nothing to dread.
A world drowning in debt, weighed down with deflation,
Was saved once again by more asset inflation.
And I heard her exclaim, as she cranked up her press,
Wish your kids Merry Christmas, they'll inherit this mess!
My apologies to Clement Moore. Merry Christmas, and God bless us, every one!
Well done.
Fetch me a wall street christmas parody, AND a shrubbery.
I assume you'd like a nice one, not too high, with a small garden gate? Cheers!
Excellent rendition. Merry Christmas as well!
Winner.
Instant zerohedge classic!
That took some might hearty work there, dear chap. And Bang-on 'tis, for I declare with a clap. Merry Christmas!!
RT @BillMoyersHQ A 1947 FBI memo stated #It'sAWonderfulLife discredited bankers which "is a common trick used by Communists." http://bit.ly/1GUCJ74
56 retweets 31 favorites
Funny, because we haven't had banks for a long time, just money-changers.
Welcome to Potterville!
"a new record high...a new record high.....a new record high..a new record high...a new record high..a new record high....a new record high...a new record high...a new record high...a new record high...a nw record high"
fuck off with this bullshit fucking Fed led fuck show.
DEATH TO THE MONEYCHANGERS!
stocks always go up. don't you know? just like the last time. home prices always go up.
so - what changed was the magnitude.
in the housing bubble - the banks lent to a large number of people (who would never be able to pay back) at relatively low rates because home prices always went up, and they would certainly see appreciation and be able to pay back.
now - the fed substituted lending directly to large number of corporations (who would never.....(see above)) so they could buy back their own stock, because stock prices always went up and they would be able to pay back later.
you got to love your facebook and twitter.
end of year bonuses are tied to market performance... bitchez
Bubbles are always biggest just before they blow up in your face...
http://olduvai.ca
Bubbles are always biggest right before they blow
and
Bubbles are never formed during pessimistic times.
The pessimism is over, its a pure bull-run, when there are no bears in the market at all . . . you know the ying and yang has self-destructed and a return to balance (correction) is unavoidable.
The only question is, how high will it go before it implodes?
earnings, buybacks, and low volume have been the drivers
ALL are on the clock
The question really comes down to:
How long can all these corporations performing buy backs, stay solvent and profitable without unloading any of their shares into the market?
Hang on, I thought the bubble was going to explode.
BTFD, we will suck your wealth away from you when cards fall. Keep sucking the Fedearal Reserve tit of Janet Yellen. Once the smoke settles, you will be broke and we managed to win the bet. Please take Down Joes to 23,000.
The Pixies - No. 13 Baby
Big Bonuses around the corner
treasury yields will go lower ... a lot lower
Santa is bringing that TLT reload I asked him for.
I've been a real good boy.
Same as last year. Huge ramp up going into the new year on zero volume as prices were collapsing and the dollar soaring.
This time around its no less than the entire energy complex that has collapsed.
I'm sure there's some e in that p but while certainly there is some wage push inflation its all in the government which are racking huge debts and unfunded liabilities. "Cure for cancer" is of course good news. Do we even have any healthcare right now?
That's a trillion dollars a year. Maybe we need some oversight. Is any actual healthcare being provided? Or is it all still "we've got a pill for that. That will be one billion dollars."
So all I have to do is chant ebola and stocks go down?
Or yell fire in a crowded theater, that should get the job done.
There have been multiple people with ebola-like symptoms who have checked in to hospitals across the country without a word on whether they recovered or not. They just disappear, from the news for certain but rumors suggest quite possibly literally. So why does this case get press when the others were hidden by CONTROL's cone of silence? Has the rulebook been changed?
I've said it before 2160 S&P top for new year. S&P flop 1650 by march 13, new QE @ FED meeting march 19. 100 billion n a month, just to keep up with the rest of the world, and remember there is only one Central Bank.
Isn't it a bit dumb to state an actual single integer the S&P will hit. I mean, the odds are stacked against you, even if it hits 2159 or 2161. Why did you pick 2160? 2150 has far more symmetric appeal.
we'll need more de/re-regulation, and more taxpayer back stopping, to maintain this high....
It's amazing to see that the problems that led to the 2008 crash have been fixed. I don't know how, but everybody seems to have forgotten they existed at all.
Term Asset-Backed Securities Loan Facility (TALF)
http://www.federalreserve.gov/newsevents/reform_talf.htm
Fuck off Janet Yellen.. Healthcare is your new Ponzi score.
Pavement - Grounded
I don't want to be around when the bubble pops.
Or these numbers are fixed or this articles are lies.:
> The Middle Class In Canada Is Now Richer Than In America: NYT - http://www.huffingtonpost.ca/2014/04/22/median-income-canada-america-us-...
> Why America’s middle class is lost - http://www.washingtonpost.com/sf/business/2014/12/12/why-americas-middle...
> The American Middle Class Is No Longer the World’s Richest - http://www.nytimes.com/2014/04/23/upshot/the-american-middle-class-is-no...
Must hurt being wrong for 5 years and coming up with excuses to not take the blame...
It's never gonna end! Booyaahhh!