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Stocks Give Up "Fed Hope" Gains 'Despite' Economic Data & Crude Collapse
The markets tried to shrug off early weakness by breaking Nasdaq and squeezing shorts...
But by the end...
Thanks to a late-day Nasdaq options market break (BATS declares self-help against NASDAQ right as the late-day ramp begins), stocks - especially the Nasdaq ramped back to the day's highs... but some very late selling dragged everything back...
Note the selling pressure during Europe - which was ramped into the US open... then ramped again after EU close...
As an afternoon short squeeze lifted stocks...but gave it back at the close.
Leaving Dow and S&P red for the month of March
Treasury yields were mixed today - short-end notably higher and long-end notably lower as the curve has flattened 8bps on the week
Credit markets were absolutely not buying it with selling in cash and hedging in synthetics...
The USD lost ground modestly on the day as AUD weakness offset EUR strength...
The USD has now risen at it fastest pace in history (aside from the immediate post-Lehman quarter)...
Depsite USD weakness, commodities fell on the day despite the spike higher in PMs early in the day...
Crude once again had a wild ride... This is oil's lowest close since 2009
As ETF-pressure and the looming roll smashed contango...
But this morning's WTI plunge and PM surge was very odd - as WTI ran its stops...
Just keep laughing...
Charts: Bloomberg
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Market not making you feel sexy today?
Try the after market party.
Sooooo.... WHEN the Fuck are they going to do that 1/4 point Bump anyway????
1/4 point bump...is that like an 8-Ball? if yes, see comment #1.
I was Refering to ongoing 0% Interest rate thing... and the Rumor of a .25% rate bump UP... (Just a Rumor mind you.)
The current rate is .25%.
A penny stock ecomomy if you ask me.
They've decided to be "patient" and do a 1/4 of a 1/4 of a 1/4 point to start.
Don't let the worlds central banker boys outprint you, Yellen. Show 'em you can do it and hyper-inflate the dollar.
Time is tight, Chair Yellen.
https://www.youtube.com/watch?v=50xx1_CbJTI
"Nasdaq declares help yourself again" day!
Tsk, what happened to hope and change? I guess it's getting hard to find any sheep to shear......
I dunno, KDX, there is always that huge flux of 401(k) money that automatically goes into the indices every payroll.
Most of that is unthinking money, and it takes a major change to get you non-market-interested joe-blow to figure out how to change asset allocations. Assuming that event hasn't happened yet, where is all that stuff going? My guess is that there is no change in that respect, but the sell side is gaining momentum and outweighing it. Bad joss.
the retail herd will ride it all the way to the bottom
for many, too much capital gain (tax avoidance) ... and CNBC will be telling them EVERY step down the bottom is in
There is actually very little retail investment right now, most people are too broke to own stocks. It's all institutional and hedge funds. Pension funds get raided in the next downturn.
"and CNBC will be telling them EVERY step down.." At least Stevie LIES-man will... He looked RIDUNKULOUS today arguing with their realestate reporter about the housing market....something about the....wait for it...."WEATHER"
Yeah, Diana Olick ripped him a new one but the rest of the "gang" was having nothing of it. It was a yell-fest free for all. Next month will dispel the "weather" excuse.
have to start keeping track of bullz throwing in the towel
i think Kudlow won 'last bull standing' last go round (he finally threw in towel sept 2008 ... 10 months deep into recession)
“50 Ways to Run for Cover” by Paul Simon
The problem’s all inside the Fed, she said to me
The answer’s easy -- at least hypothetically
Though we’re siblings, my advice will not be free:
There must be 50 ways to run for cover
She said: it's really not my habit to be rude
Furthermore, I hope my solution won’t exhaust or convolute
But I'll repeat myself, while your losses grow on crude:
There must be 50 ways to run for cover, 50 ways to run for cover
Load the TVIX truck, Chuck; Gobble UVXY, Guy
Not one leveraged toy, Roy -- just get yourself three
Ride the FAZ bus, Gus (and be sure to get a whole bunch!)
And don’t worry ‘bout fees, Lee, ‘cause nothing’s risk-free
She smirked: it would grieve me to see you lose those gains
But if you follow my great plan, then you’ll surely smile again
I said: I appreciate that, Sis, but could you please reveal all 50 ways?
She said: why don’t you just remain flat for tonight
And I believe in the morning you’ll embrace my keen insight
And then it hit me, like a Zeus-thrown bolt of light:
There must be 50 ways to bankrupt your brother
Fifty ways to peeve your brother
Just OD on DUG (you big lug), eat a TZA cake, Jake
Don’t worry ‘bout ZIRP, twirp . . .
KCS,
One of your best yet. Maybe it's because the original you used is one of your best yet.
Thanks, his rhyme schemes are great to work with, had fun a few weeks ago with Sounds of Silence and Kodachrome
So good.
To my surprise, one hundred stories high
People getting loose y'all, getting down on the roof
Folks are screaming, out of control
It was so entertaining when the boogie started to explode
I heard somebody say
BTFD
Print, baby, print ZIRP inferno melt the mother up.
Actor found on fire atop a New York-bound train, later dies
Not sure if this is a new trend like young women cutting themselves.
Pretty sure having to work for a corporation or a government is enough to drive people off Roofs in their 40s & 50s while the very young implode somehow from not having the kind of life that shows them their strengths, their own value, their own talent, their place in the community.
Hey there must be an effect on kids from Wall Street, Washington DC Politicians, Corporate Executives, Corporate Drones...
I hear that there is a crisis in Suicides for Middle Aged men like the rate is 5 times greater than for women of the same age. Loss of job and career. Loss of Home in Divorce or foreclosure. Loss of Wife and kids...
Seems like we can predict a small crash of 30% by April 2015. And predict crime rates go higher as people lose their sense of value in a culture where "Work" is the highest Value.
April 2015, Crash 30% in USD & Stock Valuations. And this time it will be helpful to the US Economy, Exports, and some kind of Economic Reset.
And someone else says: tis not the time
"The USD has now risen at it fastest pace in history (aside from the immediate post-Lehman quarter)..."
"experts" have been calling for its imminent demise for months and months ... wonder how many FY2015 S&P corp forecasts had that penciled in?
Yea well, I'm not placing any bets one way or the other on that.
Oh stop that klap trap.
Manipulating other markets down to drive yours up isn't strength silly.
This magic trick wont last forever.
the fx market beyond the control of federal reserve
strong dollar = hard US recession
the "recovery" about over
GO Janet, GO!
Everything is AWESOME...
Or go to jail.
Pass GO and collect $200 IOU's
$.05 in value.
Burn baby burn as they have my career my savings my life thanks Obama
Citizens riot after ANOTHER drunk Ukraine soldier has accident in a tank, kills young girl
According to Natixis:
http://www.ge.tt/5osnEOC2/v/0?c
March 13, 2015
What are the differences in economies where debt ratios are very high?
Debt ratios (public, private and total) are at present extremely high in a vast majority of OECD countries. How does this change the functioning of these countries' economies?
• Fiscal policy becomes more restrictive and can hardly become very counter-cyclical due to high public debt ratios;
• The private sector deleverages, and monetary policy can no longer use the credit channel;
• Central banks have an incentive to conduct expansionary monetary policies to facilitate deleveraging.
In countries where debt ratios are very high, we can therefore expect to see:
• Weaker growth (a restrictive fiscal policy, private-sector deleveraging);
• Deeper recessions (lack of counter-cyclical capacity of fiscal and monetary policies);
• And yet a sharp rise in asset prices (equities, real estate), due to expansionary monetary policies and long-term interest rates that are lower than growth rates.
Paradoxically, excessive debt ratios can be positive for equities and real estate.
Deeper recessions sounds like Austerity and more deterioration of infrastructure like highways, roads, bridges, ports.
Would Expect more Privatization even though they will cost the Federal Government more money if they are involved. States would see more Municipals with too high debt levels and high fixed costs due to privatization deals. Would also see more Toll Roads, Toll Bridges, Toll Tunnels, Toll Parking, higher costs at airports and in Transportation.
Probably would guess higher property taxes.
50% chance of War too as Financial Events seem to be paired with War and Bombing other Countries.
Some heavy betting on the Crude Craps table.
Sooner or later, the "worst since 2007/2008/2009" data will gain traction.
I'd wager that without the ECB slathering gravy on the markets with QE (debt) it would have.
no doubt
and why i think US recession will be hard
QE/ZIRP has severed the nerve (stock market) of the economy.
Instead of feeling pain (drooping stock market) and pulling hand out of wood chipper (congress DOING SOMETHING), hand gets shoved in farther while we suck back a beer with other
Typical Fed meeting week action for gold. But oh...the data!
Data is Dead; All Hail the Fed!http://buygoldandsilversafely.com/gold/data-is-dead-all-hail-the-fed/
Yellen, Yellen (s)he's our man, if (s)he can't outprint the EU and Japan NOBODY can!
Who can make sense out of all this crap. Central Banker maggots around the world have drastically altered the process of price discovery.
Keep dropping CL!!!!!!!
No soup for you!
A couple from Ellen Brown on the FED & an Interview with Craig Paul Roberts... I haven't read them yet.
http://www.counterpunch.org/2015/03/11/the-ecbs-noose-around-greece/
Today on "It's Our Money" on PRN I'll be interviewing former Assistant Treasury Secretary Paul Craig Roberts, continuing our interesting interview from the last program.
http://wordpress.us7.list-manage1.com/track/click?u=8829ce026276832f7fc6...
Swimming with the Sharks:
Goldman Sachs, Schools, and Capital Appreciation Bonds
http://wordpress.us7.list-manage.com/track/click?u=8829ce026276832f7fc66...
I don't have any stocks. I don't want any stocks. I want to know about precious metals.
US Macro Surprise Index - what data forms that exactly?
Baaaa...humbug!