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"Buying Panic" Lifts Stocks Green Post-QE Amid Gold's Best Week Since Oct 2011
Despite massive volatility and turmoil this week, today's bounce in crude and stocks is all anyone remembers... so!
But - in reality - it was total chaos...
- Silver - best week since Aug 2013
- Gold - best week since Oct 2011
- WTI Crude - first positive week in last 8 weeks
- S&P 500 - worst week in last 5 weeks
- VIX - Highest weekly close since Dec 2012
- Treasury Yields - 3rd weekly drop in a row to new record for 30Y
- EURUSD - worst week since Jul 2012
- CHFUSD - best week ever ever ever
Year-to-date... Silver and Gold the leaders (followed by bonds) with Stocks and Oil the laggards...
The week in stocks...
And an almost perfect roundtrip from yesterday's open...
And today's exuberant-fest thanks to fun-durr-mentals
Total buyingh panic rampfest today just managed to get stocks green post-QE...
Homebuilders were the week's biggest loser, Energy rebounded on oil price's dead cat bounce (despite Energy credit's record high closing spread at 1058bps)
Just as an FYI - the manipulation and tinkering is becoming so obvious and widespread as the following chart shows - average trade size of S&P 500 e-minis is now at a record low 2.7 contracts!!!! All machines all the time....
The ever shrinking average trade size in the eMini $ES_F - currently at a record low 2.7 contracts pic.twitter.com/DN7zLmpFdb
— Eric Scott Hunsader (@nanexllc) January 16, 2015
Treasury yields plunged on the week but today saw some bounce...
HY Credit notably decoupled from stocks early on but as the rampfest started so HY pulled higher too....
The USD closed the week notably higher to new 12 year highs - for the 5th week in a row...
CHF was up 15.25% on the week against the USD)
Despite the USD strength, gold and silver surged and oil levitated back to green for the first positive week in the last 8... (copper recovered its China crash)
Oil's bounce lifted energy stocks - AGAIN!! - but once again. it decoupled from credit
Charts: Bloomberg
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OT - What's the catch?
http://news.yahoo.com/u-attorney-general-bans-asset-seizure-local-police...
He's trying to avoid the guillotine?
Nahhh ......he just bot a bunch of guns and gold
Back to the 3:30 ramps.....time to order that Lamborghini
LOL I READ THAT ARTICLE BEFORE AND THE FIRST THOUGHT IN MY HEAD WAS
"Whats the catch?"
^^...
Im sure there is one.
Watching attorney general ban asset forfeiture is like watching a Charles Manson babysit and not do something horrible.
Maybe the guy woke up one morning, had an epiphony and realized what a steaming pile of shit the government he works for/with is...
I don't think that is even a strong enough analogy. More like watching Charles Manson risk his life to save that of a stranger.
Its a head turner of an article headline thats for sure.
I read that , and was like http://frenchyincali.com/wp-content/uploads/2014/02/wtf-what-the-fuck-me...
lol that is exactly what I said before I read your comment.
guys, read the article again. It says no asset forfiture without EVIDENCE of a crime. It doesn't say CONVICTION of a crime. So, as long as they say they have 'evidence' your property was used in a commision of anything they consider to be a 'crime', they can still steal your shit. Ergo, that statement is completely meaningless, and is was just made to lull people into thinking they actually have rights again. There is the "catch" yall were looking for
"Maybe the guy woke up one morning, had an epiphony and realized what a steaming pile of shit the government he works for/with is..."
umm lemmee think about that a second..........ummmm .....no..........besides psychopaths love steaming piles of shit.......they leave um everywhere they go......
The only reason they'd do this is if not doing it puts something else that's much greater at risk.
There's been a lot of civil asset forfeiture exposes in the past few months, and they're turning up uglier and uglier "cases." I put that in quotes because most of them aren't even "cases" but just outright theft.
Because of those ugly cases and thefts, there's real movement on getting an outright ban on forfeitures without criminal convictions. That takes their ball away forever, and at that point they lose it for billionaire drug dealers along with completely innocent men cruising personal ads (seriously, Florida police were posting personal ads, and then saying they were under 18, and seizing cash from people that replied "no thank you," because if they replied they were attempting to communicate with a minor.)
So Holder could either take the ball away from some slack-jawed thugs busting lonely hearts, or he could lose the ability to grab a few billion from HSBC under threat of seizure. No brainer.
They want it all for themselves.
Bingo Doc.
The thugs are starting to eat each other.
That link has to be from The Onion, makes no sense otherwise. Why would Holder do something intelligent and constitutional like that? It's completely out of character with his typical bullshit..... Invasion of the Body-snatchers redux???
total fucking bullshit.
Hey Yellen, are you sure that you torqued the lugnuts down on the bus?
Sheared them right off, except for one per wheel.
No one sneeze, please...
"Gold - best week since Oct 2011"
Yeah, sure. If you measure Flow (Commissions!), not Price. Somebody's bias is showing.
We squeezed some short folks.
I can't believe the Swiss 10Y is negative, why not just buy gold? I never thought I'd see a day where any bond yield was negative. Unprecedented times we live in.
Meanwhile Bankers flee to Brazil in record numbers...
Tyler! Thanks again for the summary. PLEASE PLEASE talk about IYR! What is the deal?
wow. wtf?
All options manipulation. Just liquidate all financial assets for cash and gold. Let those responsible hold all the return free risk. Each and every day convert a few percent to half cash and half gold.
Panic buying melt up... Things make a lot more sense since I turned my monitor upside down.
OT - Anyone see the irony in those FCXM banner ads that say "start today with us" here on ZH?
Jefferies, apparently.
On what fucking planet would the SEC alow FXCM to unhalt Friday after hours
It's open... up 100% fuck me
"Is it safe?"
td misspelled bitchez. tsk tsk. max pain bitchez.
Head-scratching financial ‘truths’:
a) Pundits said shorts are nervous holding over long weekends and would cover late in the day, their nervousness a natural consequence of potential losses that are theoretically unlimited. Does this also assume all shorts lack a holiday calendar? (e.g., why not cover Thursday, a big down day?)
b) Longs, on the other hand, are comfortable, despite currency turmoil, VIX increases, and bizarre Twitter hacks, in holding post-Friday, given their losses are, thankfully, limited to JUST their entire investment (?!)
Try watching this shit show next to people who have no idea. It is some of the best entertainment.
Dude, honestly, I don't really think that any of us really have any idea. We think we do but no one knows.
Who thought oil would crash? (20,872,349,876,398 "peak oil" articles later)
Who though they would unpeg and cause currency carnage?
Why is going / silver ripping? After all these years? While USD is also rising?
How the fuck is this thing we call the market still working at all?
Whatever. My screen is a picture of panic: clear channel on the spoos initiated 12/5. Expect more margin calls, bankruptcies, currency dislocations--unless dead cats can whipsaw, too.
Yeah, my post was more tongue-in-cheek. Not an expert on these things, but I assume it has to do with today's option expiration and the concept of "pinning", where open interest levels around various strike prices causes machine mayhem on the close. For RUT, it appeared "someone" preferred the 50 DMA to the 200 (where it ended yesterday), and we swam against a few normally reliable technicals all day to get there (or at least close) by 3:55.
last cat i shot, just would not die. it kept flopping around after repeated 20 ga. shots. one tough muthafucker.
don't recall any bouncing.
I think the terrorist attacks all over Europe are a big deal.
Certainly they have been on the news a wee bit.
Cyprus, Ukraine, Libya...all big stories basically being ignored.
As long as you have no euro's you should be fine.
Anybody?
Chirp, chirp?
Don't tell me... Another Hindenburg moment, right? lol 63rd time or whatever will hopefully be a charm.
Who the hell shot the monkey? That little bastard has been trained to hammer the fuck out of Au&Ag.
WTF!
It's obviously the smart&savy infestors going all in... It's Friday don't want to miss blast off next week!
FUBAR!
OMGGG, The charts are great, but the video is the BOMB...hahahahhahaha fucking awesome...so apropou
But But consumer sentiment is at all time highs
This quote is from Jon Nadler back in June 2012. Cracks me up how so many haters scoffed at his insight into the behavior of gold just because he said things they didn't want to hear. Ridicule and scorn from the greasy necked fatasses who brag how they'll back up the truck when the price goes down but when the time comes they fill their trucks with what starts leaking from their breeches as the price drops. Seems like there is no one like him around who tries to back up what he foresees with intelligent reasoning based on fundamentals he explains.
Anyone who thinks they've benefited by the disappearance of a gold contrarian who used reasoning must have fallen under the wheels of a ruttabaga wagon.
* Just my opinion, please don't mistakenly think my viewpoint is part of a consensus. Well, at least not here it isn't.
“I think $1,200-$1,300 could be in the cards [for the price of gold] inside less than a year,” he speculated.
http://etfdailynews.com/2012/06/28/jon-nadler-the-gold-bugs-have-it-all-...
Since he was a perma-bear, he had to get one right at some point, stopped clock style. The fact that he actually doesn't understand the gold market was revealed many times. Just to name an example, if one asserts that one can say anything meaningful about the direction of gold prices by invoking jewelry sales and mine supply, it is clear that one is simply clueless. Conclusion: Nadler, was, and likely remains, clueless. That one of his many bearish predictions (uttered with great regularity all the way up from $650 to $1900) finally, by sheer coincidence, turned out to be in the ballpark, does not disprove his utter cluelessness about the gold market.
I can't really disagree with you too strongly because I was into gold a couple years before I happened to start reading him. By then gold had almost reached the top and everything he wrote was more reliable than what a lot of idiots were proclaiming.
There is no way he can be cluesless. It's possible he draws incorrect conclusions from the data he considers but he is definitely not clueless about the data itself.