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Just Another Manic Panic-Buying Monday In Stocks
After all the event risk headlines from Friday sparked significant volume (below the 100DMA), thanks to a Chinese RRR cut, "everything is awesome" again...
All hail the Central Bank Put... but note that stocks just could not break above Friday's cliff...
Cash indices today were led by Trannies - which now love higher oil costs...
And only Trannies are green from Thursday's close...
While US equities loved the RRR cut, Chinese traders (seen here)...
Were less excited...
Additionally, DAX's big drop from Friday was not retraced and the German index is rolling over...
After 4 down days in a row, the USD rallied quite notably today led by EUR weakness and AUD plunge (after surging on RRR Cut) fed by Stevens jawboning about "not being surprised if AUD went lower..."
Treasury yields rose modestly close to close with steepening led by long-end weakness, but late-day strength kept the range small...
Despite the RRR Cut, Copper prices continued to tumble - after an initial spike. Dollar strength weighed on gold and silver...
Crude dropped on Saudi production fundamentals and spiked on idiot-algo-stop-hunts...
Thanks to Chicago Fed's big miss today, US Macro data hits another fresh 6 year low...
Charts: Bloomberg
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It is what is.
sing it my brutha !
2,100.40 on the S&P.
Gotta fix that goal-seek. the extra 0.40 shows some slight lack of control, and that makes people nervous.
C'mon team, tighten it up!!
it IS Really REALLY Fucking WEIRD! it is: The New NORMAL... Lol!!!
paranormal activty...final?
https://www.youtube.com/watch?v=2ty67xLEbHU
Maybe I should knit while I trade. I would end up kniting my hand to my balls, which might not be that bad either.
Yep.
https://www.youtube.com/watch?v=47v-Zm-9Wgg
This is what is called economic fraud. Keep the stocks market over 18K (printed money and computer driven programs) and lie about everythin and anything as the East pursue trade agreements our dunce is pursuing race riots!
It's OK to buy on Mondays as long as they dump everything (and then some) back by Fridays...
they can prop up their Fraud Markets to their hearts delight...
all i know is that im buying the same shit these guys r buying while at the same time farting in the Ango-American MoneyChangers "specific" direction...
1. “China’s push to challenge U.S. dominance in global trade and finance may involve gold -- a lot of gold. While the metal is no longer used to back paper money, it remains a big chunk of central bank reserves in the U.S. and Europe. China became the world’s second-largest economy in 2010 and has stepped up efforts to make the yuan a viable competitor to the dollar. That’s led to speculation the government has stockpiled gold as part of a plan to diversify $3.7 trillion in foreign-exchange reserves.
The People’s Bank of China may have tripled holdings of bullion since it last updated them in April 2009, to 3,510 metric tons, says Bloomberg Intelligence, based on trade data, domestic output and China Gold Association figures. A stockpile that big would be second only to the 8,133.5 tons in the U.S. (yeah right - US has no fucking Gold) “If you want to set yourself up as a reserve currency, you may want to have assets on your balance sheet other than other fiat currencies,” Bart Melek, head of commodity strategy at TD Securities, said by phone from Toronto. Gold is “certainly viewed as a viable store of value for an up-and-coming global power,” he said.
China may be preparing to update its disclosed holdings because policy makers are pressing to add the yuan to the International Monetary Fund’s currency basket, known as the Special Drawing Right, which includes the dollar, euro, yen and British pound. The tally may come before the IMF’s meetings on the SDR next month or in October, Nomura Holdings Inc. said in an April 8 report. “Gold has always been, through the history of China, a way to project power,” Kenneth Hoffman, a metals and mining analyst at Bloomberg Intelligence, said in an interview on April 9. “They are thinking about how to make the yuan more international, and so this is a possible reason why they are buying so much gold.”
http://www.bloomberg.com/news/articles/2015-04-20/mystery-of-china-s-gol...
2. “After a two-month hiatus, Russia’s appetite for buying gold is back. The nation increased foreign reserves of bullion to 39.8 million ounces, or about 1,238 metric tons, as of April 1, compared with 38.8 million ounces a month earlier, the central bank said on its website Monday. The 30-ton purchase was the most since September. Russia, the fifth-biggest holder of the metal, returned to buying gold after taking a break in January and February. The country, which bought gold through the last nine months of 2014, made the purchases to diversify foreign reserves and solve issues related to ruble liquidity, central bank Governor Elvira Nabiullina said in February. “It’s interesting that Russia is still buying because it’s economy has taken a knock from Western sanctions and from lower oil prices,” David Jollie, an analyst at Mitsui & Co. Precious Metals Inc., said by phone from London. “This sends a very bullish signal to the gold market.”
http://www.bloomberg.com/news/articles/2015-04-20/russia-returning-to-go...
3. "MUMBAI: India's gold imports is likely to rise more than 89 per cent at 100 tonnes this month compared with last year, mainly due to weakness in international prices and easing of restrictions by the RBI, an industry body said. The gold import stood at 53 tonne during April last year, according to data given by The All India Gems and Jewellery Trade Federation (GJF). "Till now we have imported nearly 100 tonnes of gold. So we are expecting the total imports to be a little over 100 tonnes," GJF's new Chairman Manish Jain told PTI here. However, imports will be lower than March, when India had shipped in 159.5 tonnes of gold as jewellers were stocking up in preparation for Akshaya Tritiya and the marriage season, Jain said. The country had imported 72.5 tonnes gold in March last year, he said. In the first three months, the country has imported 286.2 tonnes gold compared with 137.5 tonnes in the corresponding period last year. In 2013, the government had imposed several restrictions, including increasing the import duty and introducing 80:20 scheme, under which at least 20 per cent of the imported gold had to be exported before bringing in new lots. In November last year, the Reserve Bank had scrapped the 80:20 scheme citing that the current account deficit level is comfortable.
However, the government has so far refused to bring down the import duty to 2 per cent from the current 10 per cent, as demanded by the industry.”
http://economictimes.indiatimes.com/news/economy/foreign-trade/gold-impo...
DEATH TO THE MONEYCHANGERS...
DEATH TO THE MONEYCHANGERS... This is where you nail it!
adapt or be left in the dust
“Lost in the Super Market” by The Clash
I'm all lost in the ‘super’ market
I can no longer short happily
They came in here for an implied offer
A guarantee of more QE
I wasn't stopped out so much as rubbed out
It’s like a bus ran over me
We have a saying back home in the suburbs:
Your cracked skull you never can see
As stocks head back to the ceiling,
my Brahms price alert’s scarin’ me
Hearing that sound used to be appealing
Now it means they’re all around me
I'm all lost in this pseudo-market
Longer term horizontally
Only flash boys can fill their coffers,
bending price telepathically
I’m out to win, but see buy programs
I’m short Groupon & Green Mountain tea
I’m short that giant, hip biotech exchange fund
They open the throttle, I’ll feel a bit peeved
Neighbors’ brawls through the pipes in the walls
Are apt market commentary
Long dated calls reward bull market molls
As we gyrate from red to green
EVERYTHING IS AWESOME! MOAR QE!!!!!!!
"Their leaders talked, and talked, and talked"
Zimbabwe stock market hit in...2008 the Zimbabwe stock market index has soared to over 5,000,000 ! (of course their Z-bux were worthless at that point).
All the other markets should at least top-out higher ?
http://www.goldonomic.com/zimbabwe.htm
You go back Jack do it again
Wheel turnin' 'round and 'round
You go back Jack do it again...
[/Steely Dan]
Now you swear and kick and beg us
That you're not a gamblin' man
Then you find you're back in Vegas
With a handle in your hand
Your black cards can make you money
So you hide them when you're able
In the land of milk and honey
You must put them on the table
Wait What is buying a few Ozs of Gold & Silver today. feel free to keep knocking the price down while he finishes his lunch.
Just Another Panic Monday - The Bangles (hot lead singer)
You are either long or wrong.
Everything has been basically as bad or worse recently than it has ever been in recorded history and markets are surging higher.
You see everyone is scrambling to allocate their hot money into something cause we do not know who will do it or when they will start but we all know 100% for sure there will be moar QE and stocks will go higher because that is the only acceptable outcome. If the market goes down significantly from this level its game over for the current system and they know it. When the SPX hits 5000 in a few years maybe we could handle a 50% correction but not now.
The FED's going to hold 18,000 on the DOW even if it sinks the entire global economy.
QEINFINITY
Big bombs in Yemen!
Buy, buy, buy!
If only one or more of these zombie entities would actually go bona fide BANKRUPT (and stop dividends!) the wheels would fall off.
But...that's what extend-and-pretend is for!