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Early Dip Becomes Manic Rip After FT's "Greek Non-Haircut Haircut" Article

Tyler Durden's picture




 

Anyone trying to trade today's equity, bond, or crude markets likely feels like this now...

 

An epic day of intraday volatility in almost every asset class (except precious metals) as shitty macro data in the US was trumped by 'hope' that an FT article on a Greece solution would save the world (but is in fact a non-starter).

To translate - this afternoon's manic buying panic was because Greece requests a debt reduction under a more palatable name...

 

Wild swings today...

 

 

Managed to scramble S&P 500 cash index back above the crucial 100DMA...

 

S&P tops 2,000 and the 100DMA

 

Were stocks trying to catch up to oil's meltup?

 

Bonds were not buying the exuberance at all...

 

Energy stocks led the day... from the NYMEX close yesterday stocks are mostly flat...

 

All thanks to the USDJPY ramp

 

But Energy credit was not falling for it again

 

On the day, Treasury yields ended modestly higher...

 

And thanks to the late-day exuberance, the USDollar rallied back to almost unchanged... thanks to USDJPY's surge

 

and commodities were relatiovely well behaved apart from crude...

 

which was total craziness...

 

Charts: Bloomberg

 

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Mon, 02/02/2015 - 17:14 | 5736301 Dungholio
Dungholio's picture

Yawn....

Mon, 02/02/2015 - 17:18 | 5736326 max2205
max2205's picture

I though we were closed for the month for FSA month,  I mean black pity month

 

 

Mon, 02/02/2015 - 17:20 | 5736344 CrazyCooter
CrazyCooter's picture

Hair cut = 25 USD ... Hair Style = 65 USD.

Let's "style" our debt, that will get the gals!

Regards,

Cooter

Mon, 02/02/2015 - 17:36 | 5736402 NotApplicable
NotApplicable's picture

Saved by the thesaurus yet again!

Mon, 02/02/2015 - 17:21 | 5736348 101 years and c...
101 years and counting's picture

and, it only took a week for the new finmin to play along, and now "reassure" the "markets".  i wonder how many 0's it took for him to turn???

Mon, 02/02/2015 - 17:24 | 5736355 knukles
knukles's picture

Listen  It's already racist.  "They're" 12.5% of the population and only get one month.... which is 1/12th or only 8.3%, plus they were given the day or 3 short month of February.  So quitchur bitchin' and pay your taxes like Al Sharpton.

Mon, 02/02/2015 - 17:41 | 5736417 Pooper Popper
Pooper Popper's picture

The enemy is inside the wire.......

BROKEN ARROW!

Mon, 02/02/2015 - 17:22 | 5736345 zorba THE GREEK
zorba THE GREEK's picture

What is happening in the world now reminds me of 911 when the people in charge told the

occupants of the WTC to stay put and not try to leave the building. The media today is telling

everyone to stay in the markets and not to panic. I smell smoke and I am getting out now

before the panic.

Mon, 02/02/2015 - 18:24 | 5736632 saints51
saints51's picture

Seriously I think this markets accelerates upward tomorrow. Just a hunch. Maybe karma bites me in the ass with my comment and goes to 0

Mon, 02/02/2015 - 17:56 | 5736494 slaughterer
slaughterer's picture

Today was right out of the 2011 EU-crisis playbook.  

Mon, 02/02/2015 - 18:32 | 5736677 Bloppy
Bloppy's picture

Rand Paul in EPIC on-air tirade against CNBC:

http://tinyurl.com/ov46ttr

Mon, 02/02/2015 - 18:55 | 5736761 NotApplicable
NotApplicable's picture

I see that Rand is being smeared with the anti-vaxxer brush.

Must be presidentin season?

Mon, 02/02/2015 - 17:13 | 5736306 Tsar Pointless
Tsar Pointless's picture

Pull this finger...

Mon, 02/02/2015 - 17:15 | 5736308 Serfs Up
Serfs Up's picture

Don't forget to sell gold too...that's what a good rumor is for, after all.

Mon, 02/02/2015 - 17:15 | 5736309 Pooper Popper
Pooper Popper's picture

UNBELIEVABLE!

all this shit is truely NOT believable.

 

This cluster fuck is going to end so badly.........This country is so Fucked!

Mon, 02/02/2015 - 20:43 | 5737132 franzpick
franzpick's picture

It's a financial Jonestown.

Mon, 02/02/2015 - 17:17 | 5736313 Philo Beddoe
Philo Beddoe's picture

God as my witness, I could have swore I saw Three Peaks and a Doomed House pattern in my charts - Gartman. 

Mon, 02/02/2015 - 17:25 | 5736360 NoDebt
NoDebt's picture

When he turns bullish again tomorrow morning maybe he'll notice the even more subtle legs-akimbo inverted camel toe pattern he missed today.

Mon, 02/02/2015 - 18:20 | 5736617 TeamDepends
TeamDepends's picture

Ah yes, the old Triple Lindy Beaver Dam formation. Unmistakable.

Mon, 02/02/2015 - 17:16 | 5736314 Arrowflinger
Arrowflinger's picture

My haircut was too short. Does this mean I need to apply Rogaine?

Mon, 02/02/2015 - 17:50 | 5736460 indaknow
indaknow's picture

Your hair may of recently been shortened but you ABSOLUTELY DID NOT GET A HAIRCUT!......now quit saying that word. lol

Mon, 02/02/2015 - 17:18 | 5736323 NoDebt
NoDebt's picture

I think we can call a bottom in oil prices now.

Mon, 02/02/2015 - 17:27 | 5736369 NoDebt
NoDebt's picture

Oh, so you like that?  I feel a bet coming on.  Any takers on some action here?

Mon, 02/02/2015 - 17:31 | 5736385 Philo Beddoe
Philo Beddoe's picture

I looked at my charts and I can clearly see a waltzing dildo in a ram's ass pattern. This is highly bearish for oil. 

Mon, 02/02/2015 - 18:25 | 5736623 Bunghole
Bunghole's picture

I'd say with 10% of the national refineries output on strike, we will see a price spike.

http://www.bloomberg.com/news/articles/2015-02-01/oil-workers-in-u-s-beg...

Not sure I'm ready to call the bottom just yet.

Let's see how long this lasts.

Mon, 02/02/2015 - 17:18 | 5736337 Wait What
Wait What's picture

Gartman is even better than Stolper.

Mon, 02/02/2015 - 17:20 | 5736338 FiatFapper
FiatFapper's picture

Next it will be the Sun newspaper with a headline that a cat got stuck up a tree to get the algo's all hot 'n bothered.

Fuck FT - to bypass their firewall, install User Agent Switcher for firefox and create a new agent and put this in the settings:

Mozilla/5.0 (compatible; Googlebot/2.1; http://www.google.com/bot.html)

Mon, 02/02/2015 - 17:21 | 5736347 dimwitted economist
dimwitted economist's picture

this recovery is the shit!

Mon, 02/02/2015 - 17:22 | 5736354 Dr. Engali
Dr. Engali's picture

Stawks, bawnds, and real estate are the three official asset classes hot money is allowed to go into. All other areas will be targeted and squashed by the central planners at the fed.

Mon, 02/02/2015 - 17:31 | 5736392 jim249
jim249's picture

"Stawks, bawnds, and real estate "  I am glad I got one of those right.

Mon, 02/02/2015 - 17:25 | 5736366 Kaiser Sousa
Kaiser Sousa's picture

all perfectly normal....

Mon, 02/02/2015 - 19:46 | 5736376 Salsipuedes
Salsipuedes's picture

"HAIRCUTS! HAIRCUTS! WHEN WILL YOU PEOPLE BE SATISFIED? WHEN WE·RE ALL BALD?"

(Salsipuedes runs around the room pulling his hair out until he collapses into a heap near the mini-bar.)

Mon, 02/02/2015 - 17:31 | 5736382 Rainman
Rainman's picture

when the greeks start selling ' smart debt engineering ' , you know the bottom of the rabbit hole is near.

Mon, 02/02/2015 - 17:42 | 5736424 indaknow
indaknow's picture

Their just selling the same shit back to the EU that they received a few years ago. Actually not a bad idea if they plan on staying.......which they shouldnt.

Mon, 02/02/2015 - 17:35 | 5736401 Sophist Economicus
Sophist Economicus's picture

Gartman gets it right AGAIN!   Oh wait......

Mon, 02/02/2015 - 17:41 | 5736403 homebody
homebody's picture

I do not understand.  Who is going to forgive or buy more Greek debt?  I'm not too smart but I'm not buying.

 

All I see is default ( for us too )

Mon, 02/02/2015 - 17:43 | 5736423 i_call_you_my_base
i_call_you_my_base's picture

No one will forgive their debt. People will buy it if the ECB ultimately will buy it from them through QE. As long as the greeks play ball with the troika, this shitshow goes on.

Mon, 02/02/2015 - 17:46 | 5736440 homebody
homebody's picture

But how long will the Germans support an ever increasing ECB money printing scheme - to eventual hyper=inflation - they have been there before!

Mon, 02/02/2015 - 17:48 | 5736454 i_call_you_my_base
i_call_you_my_base's picture

Good question!

Mon, 02/02/2015 - 19:32 | 5736898 falak pema
falak pema's picture

As long as THEIR banks need to.... the G people are being wanked like in Greece  by the SAME combine; where do you learn your facts? 

Mon, 02/02/2015 - 17:41 | 5736415 dojufitz
dojufitz's picture

Who is the red ballon happy man in the pic.....love that guy!

Mon, 02/02/2015 - 17:50 | 5736457 allinwood
allinwood's picture

If you buy colloidal silver online, check the ppm's. My last bottle of 500 tested out at 132. Also, keep it stored in zero light or your ppm's will keep dropping.

Tue, 02/03/2015 - 04:19 | 5738068 litemine
litemine's picture

Make your own !

Mon, 02/02/2015 - 19:15 | 5736484 Bear
Bear's picture

The action in this market is beginning to look a lot like 2008 and 2001 ... sweeping downs followed by powerful dead cats. It is certainly different than the BTFD's of the last five years. I think 'This Time it is Different' may just becoming true

Mon, 02/02/2015 - 17:54 | 5736495 CHX
CHX's picture

Looks all lke new normal market activity...

Mon, 02/02/2015 - 18:15 | 5736596 The Shape
The Shape's picture

EXACTLY

The "ZOMG MOAR wild shit happened todayz" is getting a little boring.

The wild shit is normal now. We're in uncharted territory and people keep going "wow this is very strange". No it's pretty much expected.

Mon, 02/02/2015 - 18:00 | 5736520 xyu
xyu's picture

The party continues until it is over....

Best to participate and leave just before the cops show up.

Mon, 02/02/2015 - 18:08 | 5736556 lakecity55
lakecity55's picture

Really. Overall volatility is up. I can remember my grandpa reading the WSJ and saying stuff like "...too much volatility here."

It just repeats.

It used to be more like an AC sine wave, now it's like "The Fed is using a new modified pulse-squared sine derivative wave" or some such BS from the FED.

Mon, 02/02/2015 - 18:30 | 5736663 indaknow
indaknow's picture

Tylers, It may be time to start posting some bogus headlines to really fuck with some of these algos.

Don't worry, we will wink and nod and comment accordingly.

Mon, 02/02/2015 - 18:46 | 5736733 thamnosma
thamnosma's picture

Radio Shack bit the dust today.

Mon, 02/02/2015 - 20:29 | 5737080 Joebloinvestor
Joebloinvestor's picture

I bet one of the early offers was to erect a statue in the public square with "We Owe the ECB 250 Bilion Euros", so the debt wouldn't go away (come down) until it was paid off, but Greece could start over.

Tue, 02/03/2015 - 00:31 | 5737802 dsty
dsty's picture

that fat lady

I am telling you that is a lot of work

all those fat folds

warm, moist, dark and deep

a great place to grow yeast

sure is hard to keep the lower 40 clean

love is blind

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