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Acropolis Now: Currencies & Crude Tumble But Stocks Levitate On Massive Short Squeeze
Turmoiling markets... We love the smell of volatility in the morning...
Ari seems to sum up how the Greeks feel about Troika (and perhaps how the Germans feel about the Greeks)
Greek elections very definitely anti-status quo, Greek bank stocks and bonds crashing, re-plunging crude oil prices, a crashing Swiss Franc, Russian downgrade and collapsing Ruble, so BTFD in US equities...
Thanks to USDJPY...
As Small Caps were ripped...
Thanks to this... as Meghan Trainor might say, "it's all about the squeeze"... "Most Shorted" stocks were squeezed from the open and lifted 2% on the day - the 2nd biggest squeeze of the year (and 3rd biggest since Bullard's big save)...
With today's rally brought to us by Homebuilders and Energy stocks!! come the fuck on!
But the big moves were in FX markets again...
Which left The USDollar lower on the day...
Treasury yields traded in quite wide band - lower into the European open then higher through the US afternoon...
Copper magically managed to gain 1.6% as Crude and PMs slid...
Once again Silver suffered The Ten-O-Clock Tumble...
Crude's early spike on Al-Badri's $200 oil comment was entirely reveersed later on...
Finally, we notice (h/t AY) that VIX futures net spec position is now its longest since Nov 2009...
Charts: Bloomberg
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Oil can't seem to get out of this trading range.
Not enough stops to run on either side;)
It's oily stuff. No grip.
"You're an errand boy, sent by banking clerks. To collect a bill."
With today's rally brought to us by Homebuilders and Energy stocks!! come the fuck on!
Kudos Tyler
In the second chart, you can clearly see the blue hand of the USDJPY, cupping the green balls of the S&P, right up until the explosive close.
Aint that right Kevin...
Is there any getting off this fucking Merry-Go-Round?
I hear some like nail-guns.
YMMV
definitely! http://nuclearsecrecy.com/nukemap/
merry go rounds are what happens at tops, bottoms and consolidations before continuations. Its how the big boys unwind their positions.
Yes.
Trouble is it involves a long wooden box and 6 feet of soil.
USA!! USA!! USA!!!
Silver 3% swing on no news! Muahahaaha!
some nice ma and pa investor bought 5.7 mil SPY at the bell - totally normal :)
Janet is the ma, but who's the daddy?
Damn you Tyler for that Meghan Trainor reference!
*shakes tiny fist*
Each morning the past few weeks I grabbed the same booth at Starbucks, eavesdropping on sixteen conversations amongst HFT scofflaws, those ultimately responsible for today’s silver slam, using high-tech surveillance gear, while pretending to listen to The National’s High Violet CD on headphones. By the time I processed the data, it was too late, but here are my notes from today’s tete-a-tete:
Conversation 16
[HFT boss]:
I think the longs are in trouble
They’ll soon know what ‘loss’ in stop-loss is for
Give them ice for their fevers
They won’t trade snow days anymore
[HFT underling]:
They wrapped their coins in flowers
Tryin’ to guess how bad the weather will be
They won’t suspect what they're missing:
We planned a silver slam while they sleep
[HFT boss]:
Now we’re leavin’ silver city, 'cause all our silver shorts
Gave us wet dreams
Leave silver city to all the silver longs
Timing means everything
[HFT underling]:
I'm a confident liar
I stuff my quotes in a pool, so you know where they’ll be
I'll try to be less erratic
Just have to short everything that I see
[HFT boss]:
But, you were more than amazing !
You did not care what Greek elections were for
Took control in our meetings
You're the only trader I need anymore
Now they grieve in silver city 'cause all their silver longs
Gave them black dreams
Leavin’ silver city to all the silver longs
Latency means everything
[HFT underling, laughing]:
I was afraid I'd beat their brains
‘Cause I'm medieval
hell, the hedgies and the shoeshine boyz told me to short all the way to the oil bottom.... thus, I shall do the opposite.
You must be part of the 1%. I dont know of anyone who can afford shoe shines.
He can't. He can only afford the boys. Small Greek boys
As Greek American, should I be scared?
Seems from the price action someone knows a central bank will make a move overnight. Why would anyone buy into a snowstorm, especially afterhours?
Monetary base us up $300B in the past month. Maybe FED is scared China will depeg?
http://research.stlouisfed.org/publications/usfd/page3.pdf
snowjob
nothing says fraud like....
http://www.kitco.com/charts/livesilver.html
same move last 3 tradings days at the same time and same manor...
aint fooling nobody.
Well, I'll be fucked (figuratively, and possibly financially if this shit keeps up til I'm dead). Nice catch, KS.
Welcome my friends to the world of the London fix.
Aint life grand, indeed.
Has Comedy Central merged with the NYSE?
Squeeze Box The Who
http://www.youtube.com/watch?v=49H0IfoILwQ (2:41)
"Tempest in a teapot."
Short sellers annihilated again.
I imagine lotto used pick up trucks about to come on the market after this huge energy fail.
Interesting move higher in solar today. Thought low oil prices were suppose to take that industry down with it?
Russia is getting absolutley destroyed. "Euro/Ruble battle to the death."
Think I'll pass on the Swiss Franc-ensteins too.
Hey head wounded vet how about this.
http://finance.yahoo.com/news/sma-solar-cut-1-600-204929759.html;_ylt=A0...
The market is just electronic diarrhea.
A long sloppy bowl coating trail of rancid shit.
fraudulent induction of debt does not
constitute "money" or "risk management"
as the current exemplars of finance would
like you to believe. davos scum rising ...
After-hours makes sense too...
Every company missed expectations and guided lower...MSFT, UTX, MSTR, PLT, PCL....
AND THE FUCKING FUTURES ARE BID UP!
MOAR....
It's amazing. I was wondering the same thing.
None of this matters as much as Grandma Yellen saying 'patience' this week.
got a job selling looseys today, life is good, selling in the middle of the street to jacked up drivers stopped in traffic, heck we hacked the street light and screwed em real good..nothing moving for 5 blocks...mad people love to smoke jack.
It bears repetition:
"If you ever step on my patch: I'll bring you down. I'll. Bring. You. Down."-Jim Noir
I long for the day when there's no shorts to squeeze to lift these bullshit markets.