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Swissnado Stuns Stocks, Bonds & Bullion Bid
Lagarde seemed to admit there is a problem... Overheard at The SNB building earlier...
And as a bonus, we thought this was appropriate...
Stocks initially jerked higher on the SNB news (as didbond yields and crude oil) as the removal of the EURCHF ceiling prompted belief in ECB QE being imminent... but that quickly reverted - not helped by Christine Lagarde's clear discontent with the SNB decision and investors realized that for the first time in years, a central bank surprised traders...
Crude Oil's 10% range in the last 5 hours is dwarfed by the drop in the Swiss Market Index: pic.twitter.com/avwmztL1vQ
— Eric Scott Hunsader (@nanexllc) January 15, 2015
Stocks are down 5 days in a row (Dow hasn't seen that since Jim Bullard saved the world in Mid-October)
And the S&P 500 hasn't fallen 5 days in a row since Dec 2013... and closed below its 100DMA
S&P could not get back above 2,000...
Quite a ride the last few days... Year-to-date - Trannies and Small Caps losing
Futures show today's swing better... "NOT OFF THE LOWS"
as stocks slump back to pre-FOMC levels...
Homebuilders were hammered today again as hope from Monday has been crushed...
Financials continue to get whacked - playing catch down to credit... US Majors Credit risk surges to 10 months highs
Energy credit spreads hit a new record high today (1056bps) and stocks cauight down to it...
Treasury yields collapsed 8-12bps today with 10Y below 1.75% and 30Y at 2.38%!!! Not closing off the lows!!
Stocks just keep BTFD-ing and then dumping back to bonds' reality...
For fun - here is the Swissy move in context this week...
Note the USD strengthened significantly on the day as EUR collapsed (despite the CHF strength)
Despite the USD strength, gold surged...
And WTI Crude totally roundtripped both the OPEX ramp and the SNB ramp for a massive +/-10% swing...
Charts: Bloomberg
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Can anybody explain OIL to me? Why the pump and DUMP?
Because they can, my friend, because they can.
Remember .... there is always a sector swindle going on .
Carry on .
Keep calm and buy the fucking derp.
The rats are jumping off the Euro ship.
flacon, I can't explain the pump and dump, but.....
Read here:
There is this notion put forth by the media that a decline in global oil demand caused the huge drop in the price of oil. Ironically, global oil demand is higher than ever… that is, according to the IEA – International Energy Agency.
Not only did the world consume the most oil it had ever in the third quarter of 2014, it was 600,000 barrels per day more than it did in the same period last year.
MSM is all bullshit.
Honestly I think demand is not what they claim it too be. Does the IEA use militaries in their equation for oil demand? I would think because that is about the only buyers. 99% of the population is getting poorer by the day so how can demand be higher by the day. I just don't buy it because on ZH we know for a fact how numbers are fudged then later revised.
Remember .... you are being lied to on a regular basis .
Play responsibly !
Who would have ever thought that manipulating, taxing, and regulating the shit out of everything would end badly?
Where is your God now Statists?
Damn! If only the Swiss had a recent opportunity to back their currency with increased gold holdings that would appreciate in such a move, thus compensating their losses on the Euro.... oh, wait
so putin shutting the gas off is a thing of the past? or so trivial today it doesnt even register a "whatch you talkin 'bout willis?"
What a mess! ECB should swiftly reconsider the upcoming QE and start printing Swiss francs.
Bankers and politicos first,damn the widows and orphans,they will be trampled to death
in the stampede to the boats anyways.
Herp before the derp.
Oh, is this what they call a "CASH-tastrophy?
no thanks... I will stay with my 'precious'... metals...
...as well as 'precious bodily fluids'.,.. :D
great charts.
These guys have been calling the dips accurate, and use sentiment timing.....is this just a dip, or something more SINSISTER!?? SPX TRIANGLE breaking down Chart here ==> http://bit.ly/1B4K0wk
ever headshot a deer? it moves around as the cpu quites functioning but the body contorts. sound like oil? swiss econ?
If all this was a prostate exam my tonsils would be getting massaged.
I assume the Swiss let Goldman in on the plan before it was announced so they could front run the trade.
What???!!!
A CENTRAL BANK BREAKS ITS PROMISE???!!!
BUT, THAT'S UNPOSSIBLE!!!
[*Cash, Bonds, Gold...]
*Note: "Cash" does not include Euro's...
Things must REALLY SUCK if a central bank breaks its promise. The truth is hopefully coming out now.
If you're not first, you're last there el diablo. Germany, your move...
I would not exclude Euros with a certain country code ("National identification code")
http://www.ibiblio.org/theeuro/InformationWebsite.htm?http://www.ibiblio...
Pick your country.
Personally, I would keep the following bills: X (Germany), L (Finland), maybe some P (Netherlands), some N (Austria), and E-notes (Slovakia)
And I would spend or trade in the following for the above mentioned ones: Y (Greece), Z (Belgium), V (Spain), S (Italy), M (Portugal) and G (Cyprus)
The Pump was a reaction to projected free heroin, coke, and strippers distributed by the ECB. The subsequent Dump was the reality that crude remains within its brutal crash channel and no amount of money printing in the world will improve actual demand for crude and the current supply glut (seen by some as intentional).
My View: still expecting countertrend rally to emerge from 40-45 zone. More pain first. Not sure on strenght of bounce I give it the 10 week max.
what proceeded the '87 crash? oil prices crashed...
And so did housing.
Déjà vu all over again?
that is an interesting comment as we are at all time 30 year low on treas. 10 yr not far behind. i see an opportunity. lower fha ins, to draw the last buyers to their home bondage. for me refi on deck. patience as 1.25 on 10 year will be a short lived chance, like fall of 12. round tripping to all time lows. difference is prices are way higher, acctually predictable given the math...
Greenspan ignored the handouts of millions of subprime houses early on ... that ultimately lead to the housing crisis. Instead of allowing the markets work he and Bernanke manipulated everything to prop up certain assets while allowing others to fall. House prices [like my former $294,000 house which has soared to $785,000 in ten years---ridiculous!] are still seriously overpriced imo.
There's will be a correction of these inflated, propped up assets but timing is difficult when manipulators have so much power.
He ignored that the USA could handle the inflation NO PROBLEM.
The only thing about tech that those folks understood was the rotary telephone...and maybe a Hollywood movie or two.
"A laptop computer is clearly too expensive and therefore without worth."
If Hank Paulson wasn't TS at tne time what's going on in Chicago, Tulsa, etc...right now would look like a picnic.
I hear ya. I'm not advocating an equity rally overall here though I won't rule it out either in this jawboning environment. What I'm saying is that it is highly probable and even likely that there will be a countertrend rally in crude. Nothing goes straight down without some rips. This does NOT mean I am "bullish" crude it just means I call like I see it. If said countertrend rally ensues in the vicinty I mentioned yes I could see it flirting with the 10 week only to suck in new longs that are subsequently crushed when the lethal downtrend resumes.
FWIW I see crude sub-40 eventually for quite some time and even possibly sub-20.
No it will be free like everything else. Really nice of people to work for nothing to bring you your free oil.
y'all about fucked the feathers off this chicken yet? let's check in again at end of March...
BEWARE THE IDES OF MARCH!
Can anyone explain bond yields going down? Especially now that the FED is allegedly not buying anymore of them?
I'll take "foreigners fleeing equity markets for 100. Alex"
dup
Euro probably going to Parity... Potentially setting up a Green day if the EU disappoints ........ weird huh?
When the CHF let go, the USD weakened. Oil is priced in USD, more or less, so it went u, first from that then from momo. But, USD started to strengthen after the extreme pop in CHF. As USD began to move up, Oil fell. Then it kept going.
Any questions?
Yes, when is recess?
End run?
I have no clue, everybody lies (oil producers/governements/all that make money on energy) Ghawar pumping sincd 1954,,, whale, what is the water cut
peak fields, north sea/ mexico/ ?/"
What hurts me the most,,,, ONE BLUE MARBLE
and why
fuck it up
Can someone explain to me the almost 4 percent spread between Dax and Daq today? Euro QE only lifting Euro Stocks?
Because the Saudis aren't all that happy with the fact that the USA is pushing ahead with shale, and that Russia is becoming best buddies with China and Iran...
In fact, it's an act of war and if Obama had balls he would cut all ties with the Saudis (and stop fighting their wars) and focus on renewables, and home grown energy.
The side effect would be: an independent USA, no terrorism and a REAL economy.
WTI @ 46.44
Kitco showing $46.18
http://www.kitco.com/
Do I hear $40? You sir in the blue coat....
Some guy on CNBC actually said "We may be looking at a Black Swan type event with the NASDAQ down 5 days in a row."
If I still believed in technical analysis I would say that the daily for the SP500 looks really bad. Not quite fire raining down from the heavens, dogs and cats living together bad. But pretty bad. Not to worry. Mr. Yellen will save us!
Intel beat on EPS and revenue but was down 2% after hours. People eager to take profits and get the F out?
If you get scared, and want to feel better, then just look at the weekly. It's like the old laminated Ibbotson Charts.
Target pulling out of Canada, so BTFD.
https://ca.news.yahoo.com/target-discontinue-canada-operation-seeks-cred...
That's bullish!!!
[for Walmart...]
hh: Thanks for cutting thru the bs with a picture. My screens suggest that 1 bad day tomorrow, or soon, down just another 2% in the indices, to bear market lower lows at DJIA 16900 minus 320, SPX 1950 down 42, and NYA 10,300 off 215, can end this 2nd leg down from the top, although the macro deterioration, otherwise hiding in plain sight, would justify the equity markets discounting reality with a move twice that, down 4%, including the never-forgotten gap at SPX 1905:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=spx&insttype=&freq=1&show=&time=6
No worries, our frenemies will buy our paper.
Rally on!
Remember, a select few still have access to as much money as they want at no cost (ZIRP/NIRP) bitches!!
DUp.
She better be getting her feathered head gear and rubber chicken real soon
I didn't see any feather head gear, only the potential.
https://www.youtube.com/watch?v=CRLucEmfNCQ
I would say that's a poo poo face pattern! Yep, clear as day.
Have no fear, the PPT will soon be here.
Sheep remain calm and think NFL playoffs, the Superbowl, and the Halftime commercials. There ya go... feeling better?
Let's all welcome back the deer. It's been away too long.
da deer gonna get a head shot. i'm getting real hungry. tasty chops, snack stick to go with the poscorn...
And the little bears too...
https://www.youtube.com/watch?v=ozdQm7-zD4M
I think a chupacabra should replace the deer these days.
get out your buttpluz
so Silver Down and Gold up today???
yeah - right....
Interesting that Gold was up over 40 Euro's today.
That's nearly a 4% rise in a single day, in Euro terms...
the old 65x ratio is shot....
Well, he won't be invited back and will not collect his $200.00!
Time for The Fed or ECB to jawbone some QE for a triple digit down gain!
"Swissnado" ROFLMAO....ha ha ha ha <cough cough>.
I know..... that was a good laugh
wow, hedged with AU?
https://www.youtube.com/watch?v=yd2Sw7wYAzQ
Good thing Jason Bourne cashed out during the first movie.
As we all did.
Does this mean that when oil bottoms out stocks will shoot up again?
Davos anyone?
They don't know at to do, do they?
LOST yield-chasers perplexed by volatility
TYX at record lows. Again. Wow.
Something wicked isn't coming this way. It's here, and it's pissed.
it takes forever and a day ... and then all at once
do TPTB have a stick save (or two) left??
I laughed hard on the "need $$$$ to BTFD"
New acronym: STFH
Your a tiny bit late.
It's called STFR (and rhymes to the other one)
ECB, Ctrl-P.
Why is it that that 100 DMA on the S&P shows soooo few points below, and soooo many points above? It doesn't sound like much if an "average" if it comes in squarely below the median and (presumed) mean.... Sounds like it's already a fluffed up stat, realistically we've been below the DMA for a while.
Because over that 100 days, it was a pretty big jack up, so the majority of days would have been below now, meaning the average would be lower, and current points would hit above.
Not when I look at it, the whole plot is over about 200 days, so it should have corrected up.
Ah, I think I see.. their "centering" for their average is always behind the current point. That's misleading imho.
Smith: What happened, Mr. Murdoch?
1st Officer William Murdoch: An iceberg, sir. I put a hard a'starboard on the engines, full astern, but it was too close. I tried to port 'round it, but she hit.
Smith: Close the watertight doors.
1st Officer William Murdoch: Doors are closed, sir.
Smith: All stop!
Smith: Find the carpenter. Get him to sound the ship.
1st Officer William Murdoch: Yes, sir
The banksters need to repay us.
Yellen is going to have to pull out all the attachments on her Fed-issued Swiss Army Knife in order to fix this one!
It's a cold day in Greece.
Once had TLT, and it was divine
Then I went short, now I’m losing my mind
It seemed like a sure thing but I was so blind
Mucho mistrust, as the Fed ‘unwinds’
Once I had QE, and it was a gas
Soon turned out to be a pain in the ass ...
It sounds like the HAwk is working his lil hiney off so he can retire in Australia? What's got you spooked about the 'Blue fin' [IJS it's beautiful/sparsely populated/owned outright/has more water, so what's not to love] ? AND it's close enough to Bamalandia that you could expect to get some peace once in a while by sending me and the Death Star to see Granny and Aunt Linro lol. [But seriously, if you think it'd be too close to DC's nuclear fallout or something, then I'd trust your judgement.]
When the price of Gold surpasses Platinum you have war from history past.
I have thought for awhile that this was likely if ECB did QE. Draghi would have broken the Swiss Bank. They had no choice.
Sadly, I also think the collapse of the Yen is ensured, triggering a global rout. I hope I'm wrong.
probably ... but i got a feeling the yen gonna see a big (short covering) rally ... soon
True. Wouldn't surprise me at all. Nothing does anymore.
'Dont worry Manollo....another qualude she market gonna love me again!'
Tony Monyellin.
+1 for the Scarface reference.
SNB reminded us once again why gold is better as a store of value than any fiat.
I remember when Lloyd's was shearing the aristocracy in the UK,and there was a raft of suicides among the gentry.With this oil price collapse and now the Swiss Bank,some banks will have to be hurting.
The problem seems to be the new omnibus bill which will put the US taxpayer on the hook for the toxic derivatives they use to hedge these trades.An unregulated market,with no central board to show exposure,and the ISDA committee decides if a default has occurred or not. What could go wrong?
Rally on Wayne.
Rally on Garth.
Just watching CNBC.
What I just HATE (!!!) is when people start their answer with "Look, ..."
Just now it is some idiot called McVey and yesterday some young chap. So fucking arrogant.
WTF! Don't tell me to "look"! I will NOT LOOK!
I also hate:
"I think its crystal clear...."
"What he's REALLY saying is...."
"There is near consensus among scientists...."
"Experts agree...."
"Studies have shown...."
Tis better to intensely dislike something, than it is to create the harsh karmic hate energy in written or worse, spoken word. Say, you really really really dislike something and the kick back karma is no where near as bad as that which holds the hand of hate. Like a sailor uses the winds for easy travels, so does the conscious heart that uses the spiritual winds to succeed in the material world.
All clear.
"MOAR doctors recommend Camels than any other cigarette"
whaddya got watchin cbnc?
400-500k?
lots of those on drone mode...data scroll....
about 100k actually listening....and out of those....the vast majority dumbos....
so..they speak to dumbos...let 'em....
cnbc's commentators - for years - have sucked ass big time. Kramer should be shot. By a big gun.
Look, Loook.
When I hear them say 'Look...' That to me means 'OK I'm seriously losing my ass here!'
Dude.....chill mon...have a smoke on mi ~
Irie
"I'm like...". "She's all...". "That being said...". "Reach out to you...". IF you use any of these you sound like an idiot, no, really you do. Fuck that shit. Now, that is language.
I'm like really bummed out that you're so dismissive of these sorts of phrases. That being said, you of course do have a right to your own opinions. But if I ever catch you dissing people who use these phrases, I'm going to reach out to you with a baseball bat.
:-)
Dude, where's my Bullard?
Lagarde was sideswiped by the SNB move? Hard to believe Thomas Jordan didn't run this by the cabal first. Isn't Lagarde a defacto Swiss citizen anyway?
Swiss incomes just went up 20% vs. the German economy. New German cars in every Swiss driveway this Spring.
Bullish for Germany!
apparently the swan is not black enough, more midnight bluish.
We need a ZH dictionary.
"Nailgunned"
"Shitgum"
"We [insert any word here, but make it a past tense verb] some folks"
"______nado".
Now I've heard of a "Sharknado" and now a Swissnado. Can you have any kind of "nado"? Pussynado? Other suggestions?
Defenestrate-nado.
NIRPNADO
DEFAULTNADO
RESETNADO
Gnomed. As in I just got Gnomed by some freaks from Zurich....
duped
Dupe-nado.
Yes, it is time for more banker deaths. Insiders are ratting each other out...
Putinado, Obamanation come to mind....
Russia to drop Ukraine pipelines, going to Turkey instead.
http://www.bloomberg.com/news/2015-01-14/russia-to-shift-ukraine-gas-tra...
and after that, cut all gas to the little Hitler-worshipping fucks.
oh Vlad, you little genius.
Bullish! Buy the fucking swiss cheese slaughter!
Why golly gee whiz, a little more electric kool-aid, a pair of three-D glasses, and a whooooole lotta day-glo would make these charts really be farrrrrrrr ouuuut, man!
Don't devalue me bro....
someone buying contracts to try to stabilize the drop? Saud says "pump" he who has the oil has all the cards.
Either Swiss join the Euro or Deutschmark coming back this year. There is no other way.
The French ATMs and most merchants displaying on their receipts the EUR and the FRF. Not sure if this is a new policy or if they never adopted the EUR 100%.
I'm still stuck on the deer photo. What has bothered me all these years is that if the photo is a representation of a deer caught in the headlights of an oncoming car WTF is the car driving into the woods for? Plus that deer ain't going to get hit by the car because theres a freakin tree just to the left of it.
Muppets get hit by cars.
Bambi gets shot by hunters at night.
https://www.youtube.com/watch?v=Cu_0h2GZXJQ
spotlighting
i live up in Dutchess coutney NY, When i left this morning, they were all over the front of my yard. They are looking for food or something, as i am warming up my car they are about the come over to my window, definitly they are looking for food in the road in that photo.
http://vigilantcitizen.com/vigilantreport/economist-2015-cover-filled-cr...
New theory, while we are mesmerized by the crash, ptb enact draconian laws.
Soaring Swiss franc stirs panic among Polish mortgage holders
http://www.businesstimes.com.sg/government-economy/soaring-swiss-franc-s...
This kind of dwarfs the carnage that was proclaimed had the gold referendum passed.
You know what you do in heavily manipulated markets?
Neither do I.
I am at the point in my life that I am tired of the slow drip suffocating Chinese water torture death. Let it all break. Let the mayhem begin and let's see if we are any smarter in putting it all back together.
Odds are about 90% we won't be smarter and the wrong people will be dead, but at least the status quo will break and these is a chance.