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Dow's Worst Day Since January Despite Crude Buying Panic
Despite rate-cut-fest, and crude buying panic, stocks stumbled for the 2nd day in a row...
Stocks held steady through the Asia session despite a plethora of rate cuts (and shitty Japanese data) then legged lower on weak EU PMIs only to stumble hard on more misses and weakness in US data... that was followed by the now ubiquitous v-shaped recopvery that occurs when stockas fall anything more than 0.2%...
Despite all that, all major equity indices closed red...
Once again the S&P closes above the EU close price...with all the big action between the US open and EU close...
Only The Nasdaq is hoklding gains on the week with S&P underperforming...
Utilities fell once again and are now down over 6% YTD while builder and biotech-ridden healthcare are up aroun 5-6%...
Treasury yields were mixed today - long end unch, 7Y and shorter 1-2bps drop in yield (but remain 10-13bps higher on the week)...
The USD surged today (first on Swissy comments battering the Franc) and more broadly on EUR weakness ahead of tomorrow's ECB meeting...
as EURUSD tumbled to 1.1075 - the lowest since 2003...
Spot the odd commodity out... USD strength sent copper, gold, silver modestly lower...
And Crude went total Algo-tard after printying the fastest and biggest inventory build in history and a Beiege Book that had a magic "BUY OIL WITH BOTH HANDS AND FEET" signal in it...
Charts: Bloomberg
Bonus Chart: Food for thought...
Full moon tomorrow pic.twitter.com/sOndin75AT
— Not Jim Cramer (@Not_Jim_Cramer) March 4, 2015
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Well. we closed OFF the lows.. maybe because Greece giving away eveything for free?
http://hedgeaccordingly.com/2015/03/greece-sets-out-its-first-anti-pover...
I have been told More than a few times that: IT WILL NOT BE ALLOWED TO GO DOWN! < it is too important to TPTB. the sheeple See it and some even Believe all is well... stupid.
well yes, at least until the FED decides to reset the game, destroy billions and start all over.
The Fed is desperately propping up oil so it doesn't look so obvious we have entered depression 2.1
Utilities show all the proof you need as demand has fallen off the clift.
bullish stocks
So now we have the Full Moon Index. That's about as pertinent as any other these days. Bring it!
I just love how VIX got smashed all afternoon and retreated from it's earlier highs....
Total BULLSHIT!
The horizontal sine wave post-11 in all indices was more impressive than an olympic synchronized swimming team
(as were the similar strong bounces near the 20DMA in SPY, IWM and the Dow)
I see a pattern here...
/sarc off
... because when it goes against a ZH meme... its "algos".
Love the Japanese flag with the red 'X' in the middle of it. Brings back fond memories of a favorite video...
https://www.youtube.com/watch?v=Y3QXK2iUJn0
Sheet ... now the full moons can be added to me list of paranoid schizo superstitions.
Great, now Belgium is buying oil as well.
Stocks moved lower "on" this, that, the other...blah blah blah...
Don't wanna hear anymore "somethng happened 'ON' this news" or "AS" something else happened. Fundamentals mean ZILCH.
Stock prices are (hopefully!) falling because a few more "investors" think those prices are RIDICULOUS...
You forgot "AMID".
courtesy of Roxy Music
‘Tain't no big thing to wait for the bell to ring
‘Tain’t no big thing, the opening bell …
I trade futures, most every day
Thanks to the Fed, they’re all long plays
Markets are bubblin up - what's in store?
QE is the drug and I need to score
But lately I’m not sure enough, it’s hit and run
Trade meets stop in a big beat-down
Trendline’s tight, can't shake free
The Fed’s the dealer, got their hooks in me
Oh-oh, catch that buzz, QE is the drug I'm thinking of
Oh-oh, can't you see, QE’s the drug for me
Late at night I park my car
Meet the margin clerk at the sushi bar
Face to face, toe to toe
Need more time ‘til ES finds a floor
He asks for Maintenance, then I frown
Grab his collar, we tumble to the ground
I say “No!” -- he says “Yes”
Wasabi flyin’, you can guess the rest
Oh-oh, catch that buzz, QE is the drug . . .
Up arrow, but I like the original song better.
Yeah, me too. Got a feeling Bryan Ferry doesn't have to worry about margin calls.
But, but...whats the big picture? ---
Every month or so the Fed comes in and pumps the market / companies buy their own stocks back to keep a good P/E ratio.
It will drop 1000 points, and then when its about to hit 16,xxx~17,xxx points they will drive it back up 1000 points or so again to keep up appearances... of The Recovery™
^^
The farce is becoming very cyclical and boring IMO, they need to change it up a bit, maybe let it drop 4000 points and then drive it up 10,000 instead of the usual bs, give people something to be excited about maybe add some balloons and confetti every 1000 point shift also . . .
Recent "WTF" inceases in WTI didn't help this company avoid filing for bankruptcy:
Oil and gas contractor Cal Dive files for bankruptcy:http://fortune.com/2015/03/03/oil-and-gas-contractor-cal-dive-files-for-...
excerpt:
"Cal Dive has been hurt by the slump in crude prices as oil and gas producers slash their capital spending budgets.
U.S. crude prices have more than halved since June.
“With our current capital structure, we are no longer able to financially withstand the industry downturn,” Chief Executive Quinn Hebert said."
Cal Dive?
From Yahoo! Finance:
"Cal Dive International, Inc., a marine contractor, provides manned diving, pipelay, and pipe burial services; platform installation and salvage services; and light well intervention services to customers in the offshore oil and natural gas industry. It offers essential marine contracting services to support the production lifecycle of the offshore oil and natural gas industry, including subsea services on production platforms, risers, subsea production systems, and pipelines. The company?s customers include oil and natural gas producers, pipeline transmission companies, and offshore engineering and construction firms. It owns surface and saturation dive support vessels, as well as construction barges. The company has operations in the Gulf of Mexico Outer Continental Shelf, the Northeastern United States, Latin America, Southeast Asia, China, Australia, West Africa, the Middle East, and Europe. Cal Dive International, Inc. was founded in 1975 and is headquartered in Houston, Texas."
Cal Dive reportedly employs some 1,550 employees.
http://finance.yahoo.com/q?s=CDVI
Offshore oil and gas is the big boy table. Big equipment, big contracts and big money changing hands. Remember kids always incorporate (INC) so when your "Captial structure" becomes unsustainable you need only issue a press release and sign the paperwork.
Looks like chapter 11. Today's rise in the price should have back in the swing of things by week's end.
Yesterday the US was running out of places to put oil. Today investors can't plow in enough. Sounds about right.
Imagine the chaos if you had a laptop & a silenced .22
At the precise moment hit that new HFT lazer dish on the exchange and see how the 1% like being fucked with for a change.
(outsider trading)
Or a Drone...
Will those lasers still work during a plague of locust?
really believing the levitation is failing. laugh at my comment-lol too, but sumtin changing overall, can't be one thing yet. crumble...
That pretty much guarantees a wave of mystery buying tomorrow. Get ready for new highs!
Yes, that is exactly what will happen.
TPTB will not let it go down 3 days in a row.
Euro at parity.
Well back up the truck the S&P is down a whole 1.25% from its all time high. Its all Evans from Chicago FED the eternal dove. Everything is great, strong job market, 3% GDP but no inflation until 2018, and we shouldn't raise rates till June of 2016. Better bring out the bad cop to complete the circle jerk.
DOW down a little 100 points and that's a big frowny face.....aw poor baby.
When does the ECB officiallt inject hopium into the markets and how much? Tomorrow?
ZH is becoming almost unusable. They have loaded the pages with so many ads that they take minutes to load.
And strangely enough, the adds are mostly from banks and brokerages. Looks like Wall Street has finally found a way to silence ZH.
Step 1: Download a Browser worth a fucking shit.
Step 2: Add on an advertising blocker of your choice.
Step 3: Enable the software.
Step 4: Give the computer to some one with enough sense to use one.
Of course oil is rising... Obama is planning a war w/ Russia. WTF.. you didn't know ?
The tin-foilers are saying Iran is the target in the next coupla weeks. March 22 to be precise. Some false flag against the jews obama has cooking.
Don't buy it myself, but could explain the frosty welcome to Netenyahu.
Another hoowie-balooie day in the giant shit show. Whoppie-doo!
Quick! Off the ship. The dollar is sinking!!
Here is the time table. War before, or just after this comes to pass world-wide?
http://www.sovereignman.com/trends/the-chinese-have-put-out-billboard-ad...
The whole Syria proxy war is dirty. She had proof and they killed her.
New Anonymous op as White House still ignores murder of American reporter Serena Shim in Turkey
and b/c everything about Israel is a war crime...
UN Chief: Israel may have purposely targeted UN base in Lebanon, killing Spanish soldier – VIDEO
"When the capital development of a country becomes the by-product of the activites of a casino, the job is likely to be ill done."
The long trend is up......there will be blips on the way up.......
Gold sucked shit again, can't get out of it's own way.
BTFD Its software stupid.