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Stocks Close At Record Highs; Shrug Off Schaeuble Shocker
When even CNBC is playing 'our' song... you just know that "everything is awesome"
Early European hours saw US equity futures leap gazelle-like as JPY momo (cough BoJ after their miracle bid stick-save in JGBs earlier in the evening) lifted them on no news... then crappy US data... more Greek asset weakness... Europe flat... and the US Open - BTFAAPL!!!... liftathon... Greek news - Awesome - oh wait that's no news at all! - forget it BTFATH!!!! and that's how we reached 2100 in the S&P 500...
From the moment when Greek Talks Failed yesterday...
From Friday's close, a miraculous meltup in th elast minute or two dragged everything green...
...ensuring magically that the S&P 500 closes perfectly at 2100!! Are you fucking kidding me?
Who needs a VIX smash when you can manipulate the shit out of AAPL at will...
Builders and Banks did well (despite crap NAHB sentiment), Utes and Discretionary lagged... Healthcare won overall as Biotechs just bubbled further...
All About USDJPY and the BOJ manipulating the shit out of it (via Gold/GOFO, JPY)
Credit markets dumped this afternoon
Bonds were monkey-hammered... an early safety bid was eviscerated as 30Y yields ripped from -5bps at 2.60 to +8bps at 2.72% - a 13bps intraday swing... but note as Schaeuble poured cold water on the hope, bonds started to rally...
Year-To-Date, Treasury yields have round-tripped...now all buty 2Y is higher on the year
The USDollar is now unchanged from Friday - given back all of its gains from yesterday on EUR weakness as EURUSD rallied back into the green on the week. JPY was notable under performer...
Despite the USD weakness today, gold and silver were unceremoniously dumped to prove that "everything is awesome"... Copper also dipper but Crude - after early weakness went entirely algo-plectic - soaring once again into the NYMEX close...
The machines - and thus the central banks - are back in charge of oil... the volume in Silver and Crude during the early carnage suggests this was either total and utter manipulation or a forced close...
* * *
So to summarize: Earnings expectations continue to plunge to 10-month lows... US Macro data is a disaster (worst in world since start of year) at 11-month lows... Ukraine's cease-fire is not working... The Greek-EU drama has NOT changed as Greece's request to extend loan with no commitments will be screamed at by Schaeuble "nein nein nein"... Energy stocks are trading at a 28x dot-com-esque multiple... and stocks are at record highs...
Charts: Bloomberg
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Jesusfuckingchrist!
Seriously, is anyone really surprised?
No but there was once a time when watching and trading markets using historical lifelong tools such as charts, fundamentals, thesis, outlook, macro and geo was actually a challenge, enjoyable and even rewarding. So, not surprised but also not as much fun as capitalsim was in the not too distant past.
I'm betting the family farm (yeah, like rented house) on this going bad in the next 2 weeks. Buy the dip in PUTS. BTDIP?
The S&P index should be renamed "SUPERNOVA" every time I look at it I am struck with awe. Every. Thing. Is. Fucking. Awesome.
https://m.youtube.com/watch?v=fQ60E4gYPEc
I'm thinking once Q1 GDP/Corporate Earnings start filtering in everyone will be screaming MAYDAY! It would be even better if it started happening on May 1.
more like June 17. you can be sure that after that 1st rate hike sends 10YR TSYs soaring past 3%, the Fed is going to go right back into crisis mode as all that short-term lending gets rolled over into free cash flow crushing higher cost debt. the bond market will crack, then the real economy will crater (polar vortex my ass), ushering everyone right back into crisis mode monetary policy.
it's all pretty obvious at this point.
PartysOver,
No, in a word! Everything is SCREAMING 'desperation' now.
DavidC
January was one of the worst months for stocks in years. Now February is shaping up to be one of the best.
Oil is up 40% in half a month. Amazon has shot up what 30%. Apple is gone full retard. In fact Apple has gone retard plaid.
Do you mean Brent? Because WTI has gone up about 25%
Can someone explain to me how the hell the US 10 year has rocketed higher to 2.15% based on everything that is going on in the markets? Yet the German 10 year still trades at .37%?
Ya see there's this thing called "QE".
Ya see there's this thing called "PINKO FASCIST COMMIES" masquerading as Americans....
Germanys depression is worse than ours?
I'm depressed.
another day in paradise
https://www.youtube.com/watch?v=IikdnG5nKEk
They saved the world once again. There was a brief, fleeting instant when I thought they were going to let us close slightly red, but then I laughed and hit buy
I often wonder, "Who in their right and sane mind would buy TFATH?". Now I know....
Everything will continue to be awesome, till one morning we wake up and it isn't. You may want to keep some small short futures positions 3 to 4 months out, think of it as insurance.
"Everything will continue to be awesome" until the Banksters start cannibalizing the non conformist amongst them. Remember Lehman and Bear, they were not conforming and paid the price for such actions.
I do remember them, what was it that they didn't or did do that wasn't conforming?
Lehman and Bear were the most overleveraged with the toxic shit du jure, All the other rats were saved by the antidote of massive amounts of taxpayer money.
complete fucking farce...
anyone who cant see it and says otherwise is a fucking moron...
and lets not even talk about the rigged paper Gold and Silver "markets"...
DEATH TO THE MONEYCHANGERS.
Kaiser,
It's giving me the opportunity to buy a bit of gold and silver physical when I can - I'm not complaining at that bit!
DavidC
Well the play book of BTFD always works. Wait for a 4-5% pullback and buy leveraged call options on 3x etf indexes. Rinse and repeat.
All the PINKO FASCIST COMMIES are in on it and not one American has the COURAGE to stand up and fight against it. Pussy conformist cowards are who buy this Communist market while 'pretending' to be a FREEDOM loving American. If you support this FRAUD then you are the ENEMY of FREEDOM!
Is Peter Oborne coming???
Stop whoring for Wall Street.
http://www.showrealhist.com/yTRIAL.html
http://patrick.net/?p=1223928
Blind earning expectations. Won’t those cunts be surprised?
Man that Hindenburg is a beautiful airship!
A miracle of our modern age!
Hindenberg Baltic snow index says buy buy buy!
The makings of a global warming snowball.
There's nothing you can look at on a chart that is going to tell you anything anymore. It's simple - central banks have made stock markets policy tools and what they think are transmission mechanisms. It doesn't matter about earnings, macro, fundamentals, or anything else - the market will go up because it is measured in fiat and they have an unlimited supply
Read above post again. Then repeat.
Treasury to ESF:
T-Ok men dial in 2100
E- done sir!
T-execute!
E-target reached sir!
T-Good job men, mission accomplished. Take the rest of the day off
tvix was a flat line all day..reversal IMO..down we go, wheels smoken, this market is limping on flat tires, the fat lady is singing, ISIS grexet isis putin putin baltic ship be sinking union ports be a craming oil leaking cold weather killing gdp obuma's ass is showing (holder), no football distractions, heads chopping mid east burning-putin winning..boots on the ground drums be a beating. rag time blues.
what is a reversal? Is that when the market goes up .5% instead of 1%. This is the mother of all bubbles. Nothing matters anymore...just print money give to richest and repeat again
Everybody in your market
They don't look depressed
Everybody’s buying AAPL
Color me impressed
Stayin' up late, short the market
Won't be gettin' sleep
Keeping safe their passwords
Cause that's all that they will keep
See the monkey in the mirror
Oh shit, send the bill to the Swiss
Intoxicated bankers ending our franc kiss
Can this stand?
That’s no mean feat
Can markets stand
on their own feet?
(Everybody, everybody …)
Everybody in your market
No one looks depressed
And everybody's spending money
Color me impressed
Yeah, color me impressed
Let’s call them out
Has no one learned a fucking thing in the last 6 years? BTFD, learn to trade Puts and Calls, and just follow the fucking trend.
You have to be completely fucking insane to be betting against this machine. Just make your money, buy PMs, and move along. No one gives a crap anymore. The military isn't doing anything, the borders are wide open, the inner cities are a mess, and middle America is getting butt raped by everyone.
Might as well make some money in the process and stock up while it's free.
Nah man, it's ending tomorrow, if not then, it has to be the next day, or the next day after that
I've been waiting for the -5% move for years now.... it never came. Might as well dig a hole in the icy river and go drown myself.
DJIA 20k+++
New 9/11 Audio: FAA employees say Secret Service told them “Flight 93 hit Camp David”
Only in an ideal world.
I love these end of day round ups - it may not change anything but it sure as hell backs up my "WTF?!" when I see these ridiculous moves each day.
DavidC
Tyler: "bonds weren't buying it"
LOL ... again?
what the fuck does that even mean??
you money grubbing whores...
takes me 30 seconds to load this site so much useless ad garbage... whoever runs this site Fuck you
Firefox + AdBlock Plus are your friends.
Well Punk, you got to be asking yourself one question:
Do I feel lucky (enough to short this market)?
That explains something: http://www.keeptalkinggreece.com/wp-content/uploads/2015/01/varoufakis-d...
Think will be funny if Greece doesn't back down and forces Germany to exit the euro. It makes sense why be in Euro if you're the only one fiscally responsible.
What the fuck changed as of January 30th?
Everything has shot up like a rocket as soon as the last month ended. Oil, bonds, stocks, etc.
What changed in the real world? I mean computer programs might see a difference, but I sure as hell didn't.
For that matter, WTF has changed since S&P 666? Nothin in the real world, shits worse since then, but hey at least the Maniacal Monetizers got magical 2,100.
The trend is alot of money needs to find a place to hide - ie. Stocks. (yes there will be corrections)
This is a Sovereign Debt Crisis.
The Bond market will be the one that implodes.....
Not a Stock Market Crisis.
Don't disagree with anything above, but also think the pre-FOMC machinations were in play as much as the thick Greek yogurt, keeping us flat-ish, with potential Scrabble word games rather dove-controlled.
This makes the mania of 2002-2008 look rational and orderly.
"and the S&P closes at 2100, are you fucking kidding me"? bwahahahahaha....LOVE the incredulity!! GO Team Tyler
i love hearing the everything is awesome video, it gives me some laughter at days end after this bullshit continues day after day.
keep playing it daily after days like this, bc cnbc is playing bc they really believe it.
isnt it amazing how the s&p finished exactly at 2100.
"all she wants to do is dance (and make romance)"
Her safety zones long since bloody burger, on she rides with wreckless abandon.
This one's no beginner, having plied her wares since time immemorial. Rich or poor, she'll take your trade, and
leave you with a smile, until she is no more.
Long recession come Spring.
Putin bum rushing into Crimea followed by a sanctions regime instead of just telling him to get out has killed commodities.
Not just gold but ALL of them.
Awful lot of dollar denominated debt to be defaulted on here unless and until that dollar gets hammered.
The USA did get downgraded and is no longer a triple A credit so it is possible the dollar sells off here. Huge run-up though. Fukushima, Greece, the collapse of the CIS....UGLY macro to short the dollar.
"Growth recession" has been the play for some time now.
Another flashcrash 2.0v, you'll make a forture on the sell side. Stay awake.
CB's are losing their creativity for riggedness...
What's interesting is that the stock market was down big in January 2014 but rallied after the Super Bowl. Two years in a row so far. Should have listened to Gartman.
Schäuble said "Nein"? Is news to me. Schäuble said that the clock is ticking and there is no extension past midnight on 28/02. Of course we heard that before.
Which side has caved? Strategically and technically there was NO room from either side for a compromise. Either they both took a beating or we're not closer to a deal.
Still think that GREXIT is coming. If not now then in a couple months.
I bought some aapl calls. So it is all over for apple.
Bless you.
what-i thought Gates ass-lickers went the way of the DoDo!
8=D @ 0:56 + "everything is awesome when you're living a dream" lol
Its pretty impressive they managed to drive crude up after a really bad start today! Crudes being used like the drunken girl at the frat house kegger...
That's just insane man.
Just a blue collar dude like my bio says...Some of you here sound like you have a lot of wealth...I don't have a lot of wealth, but on this news and the dip in metal prices I have another $5 Gold Eagle coming in the mail! Makes me feel like I'm at least doing something to protect my family from TPTB (Jackals).
For skeptics, check this out.
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
Thanks