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VIXnado Sends Stocks Near Record Highs; Crude Jumps, Dollar Dumps
Worst back-to-back retail sales since the financial crisis explodes the narrative that low gas prices are a stimulus, a truce in Ukraine (which we already had and by the way the Hyrvnia imploded to fresh record lows today - not exactly signaling exuberance), some chatter of compromise in Europe (though we've heard that before)... which leaves VIX... which was monkey-hammered to ensure record highs prove (despite a total collapse in macro and earnings fundamentals) everything is awesome and confidence is maintained...
Stocks went up... a lot...
VIX went down... a lot... lowest close since 12/26/14... at 15.3
AAPL went up... again...
From the "CNBC Greek Deal" rumor highs last night, we dumped on the denials then soared all day... after Ukraine news (with a slight pause for the shittiest retail sales datas in 6 years)
On the week - everything is awesome...
Away from that tom-foolery - FX and credit markets turmoiled quite significantly...
Treasury yields spiked higher on "truce" news, the collapsed on the dismal retail sales data only to bounce higher after a tiny tail in the 30Y auction... before yields fell (bonds rallied) into the close - Treasuries rallied
Umm yeah!
The USDollar lost significantly today as JPY strengthened (BoJ sounding a little hawkish) and EUR strength (Ukraine? and maybe Greece) - but everything rallied against the USD.
Despite the USD weakness, gold and silver flatlined as copper and crude surged...
With another epic pump-and-dump early on in WTI...
About that oil and stocks are not correlated bullshit...
Energy stocks rose to valuation levels not seen since the peak of the dot-com bubble...
If the rally was predicated on a Ukraine "truce" deal, why did the Hyrvnia collapse even further?
So let's take a look at Stocks, Bonds, USDJPY, Crude and VIX over the day's events...
Charts: Bloomberg
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guess when the ES 52 week low was? then guess what happens tomorrow.
Fuck sales, fuck deals--just BTFD.
It's all good. Except when it's bad. But even then, it's still all good - if you're the US stock markets.
I think we need to realize that the world economy, shipping indexs, supplies of gold, job reports, or *anything else* attached to REALITY - have ZERO to do with the US market.
I purpose the value of the DOW be linked to Wandium - a element that sheds off from tooth fairy wands and from their rectums when they shit - or get sick and puke..
So judging by how well the market did I think a couple tooth fairies <at least> have the shits, because the market is great!
what dip??
America... Fuck Yeah!! America... Fuck Yeah!!!!!!!! watch out you bad ISIS.. HOOFYS and Any other BAD PEOPLE! HAHAHAHAHA!!!!!
So lick my butt and suck on my balls! America! Fuck Yeah!
Ha. Ha! The 'Bad People' are right here in America.
Yep. Them that RUINED this once FREE & PROSPEROUS nation. Who are these 'Bad People'?
Why our 'leaders'---from corporate to political to financial. They have runined this country.
I cannot wait for 'Justice' to 'correct' this abberation...
30 yr yield is collapsing to 2.5%
10 yr yield has rallied from 1.6% to 2%
could we be headed to an inverted bond yield curve?
Just another day of epic bullshit and bankster bliss
Now that oil has been smashed it has become the new USDJPY.
we are free and clear to sell our PM and go buy till we drop. happy days are here again sheeple lets party. I need a dealer
sarc
http://i.imgur.com/BtY9PjN.png
Hell ... I'll take 89 moar oil sucker rallies over the next 6 months, Alex.
pure and utter bullshit...
and nonetheless economic and societal doom WILL NOT BE AVERTED.
DEATH TO THE MONEYCHANGERS.
I was kinda figuring it topped out today. Bought some SPXU. I'm crazy maybe?
It you like that SPXU at thirty something dollars you are going to love it later this year at thirteen.
BTFD (VIX calls, that is...)
‘Yellen’s Army’ w/ music by Elvis Costello
Don't start me trading, I could trade all night
My mind went jaywalking
While I was putting up the fight:
Called careers information
Day Trading’s not considered an occupation
Yellen's army is here to stay
Draghi's armies are on their way
And I would rather be anywhere else
Than in these markets today
There was a Plosser, Charlie
He didn't crack a smile
But it's no laughing party
When the doves are all lined up for miles
Only takes one inflation trigger
But central banks don’t have much rigor
But there's no danger
It’s no ’professional career’
Though it could be arranged
By taking the Skittles from Ms. Yellen’s beer
If you're out of luck or out of work
Just access NYSE from the suburbs
Yellen's army is here to stay
Draghi's armies are on their way
And I would rather do anything else
Than trade these markets today
The markets are not affected by domestic economic activity or the job market - it is all about off-shore holdings. F**K globilization if that's even a word.
Certainly by now even a 3rd grader knows that the DOW only goes up. With the occasional dip of course.
The un-fed will always be the buyer of last resort or as needed. What the hell is a few trillion or even a quadrillion in the scheme of things, when it's make believe.
Since none of this conjured up debt can be repaid you just say fuck it and let it rip!
It is 3rd grade 'intelligence' that is buying this 'market'. See TheRideNeverEnds for confirmation..
Wake me up when the VIX is under 13
As the global economy slows, prices will continue to fall. Oil isn’t just used for gasoline. It is used in the manufacturing of practically everything today from automobile tires to composites to plastics and so much more including the specialized fuels to transport them around the globe. If prices are falling then the consumption of those things is also declining which means the GDP of the nations producing and shipping them is declining. Analysts are trying to spin the lower fuel prices as “good deflation”, saying things like lower income families will have more money to spend from gas price savings. But the reality is that deflation depresses wages, shrinks the tax base, and creates unemployment. Nothing good comes from deflation.
Oil should be finding a temporary bottom shortly around (3) and the dollar is poised to correct for a few months.
Oil
http://www.globaldeflationnews.com/oil-light-sweet-crudeelliott-wave-upd...
Dollar
http://www.globaldeflationnews.com/u-s-dollar-indexelliott-wave-update-f...
Watch out EVIL DOERS...we BTFD.
Don't Think ! We will do all the thinking for you.. - The Fed,
On the way to the mandated +30% S&P for this year.
I keep thinking that I woke up only to find I'm still in a dream.
"everything is awesome and confidence is maintained.."
This is why I got out of the stock market "mind fields" ages ago, and with what little winnings I had left, bought a few ounces of precious metals. My stress level index looked like the VIX Futs chart.
Thank you, Tyler. I needed that.
This will not end.....
We Zero Hedger's might have to steel ourselves to the fact that until 2016-2017 nothing will change.
Wall street is already counting on it ....... nothing will happen till the plump grandmother running the FED is shown the door.
Then only if the new sheriff looks tough with a hard-on for Wall Street.
I still haven't seen anyone exp;ain this clearly. How does hammering the VIC lead to equities moving up strong? What is the exact instrument to instrument / asset class to asset class link?
everything is awesome
Good lord, we are living in a fantasy land where up is down, and left is right...Has everyone lost their mind?? It is only a matter of time until...
https://www.google.com/search?q=game+over&tbm=isch&tbo=u&source=univ&sa=...
This market is so easy, even a sheep can do it: Just BTFD.
Ignore TD's chart porn and ZH Austrian economics. "The Trend is your Friend". If or when there's a "Correction", BTFC. In the meantime, BTFD. And tell your friends and family.
p.s. Keep dancing, but stay close to the door.
pps. Can I just put the tip in, as a good faith gesture?
Just like Krokodil
The junkie will inject even as the flesh is rotting.