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Dow Swings 750 Points In SloMo Meltup; Bonds, Bullion Battered

Tyler Durden's picture




 

Fears over ECB crackdowns on Greek banks started the turmoiling. Denials carried it on, then good housing data was bad news until it was good news... With moar HFT algos driving today's manic volatility (and Sarao in court), we thought this apropos...

 

Dow Futures swung over 750 points intraday...

 

And futures show the volatility was widespread...

 

But cash indices all closed higher, led by Trannies (small caps lagged) - Mission Accomplished: NKY > 20,000; Dow >18,00; Nasdaq > 5,000; and S&P > 2,100

 

On the week that leaves Trannies in charge and small caps lagging...

 

Notice we reversed lower towards the close as S&P Futs tagged yesterday's openiung highs - just another stop run!

 

Everything today appeared to pivot around the Housing data...

 

Treasuries were clubbed like baby seals... leaving 30Y yield up 14.5bps on the week (8.5bps today) in a major steepening post housing data. 10Y Yields hit 1.99%

Worst day for the long-bond in 7 weeks pushed yields to 5-week highs.

3rd day in a row that Treasuries have been sold in the US session

 

The Dollar ended the day very modestly higher thanks to USD buying duringh the US session (which is unusual)... Swissy was baumgartnered...

 

Despite the dollar's quietness, commodities all lost ground with gold and silver monkey-hammered... and copper continuing its slide (and hitting contango)

 

Crude prices spiked on the smallest of production cuts but then humans realized that in fact it was Alaska that had cut.. and prcies tumbled back to red on the day...

 

But that didn't stop energy stocks from rallying to new high valuations...

 

Charts: Bloomberg

 

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Wed, 04/22/2015 - 16:09 | 6019483 kliguy38
kliguy38's picture

Does anyone else out there think this might be manipulated??? or is it just me.........hehehehehehe......hell even the shoe shine boy won't touch this steaming pile of dog shit

Wed, 04/22/2015 - 16:21 | 6019534 Rainman
Rainman's picture

10y bunds and Tsy .... each down exactly 0.62% .... doesn't make me a bit suspicious .

Wed, 04/22/2015 - 16:49 | 6019615 Haus-Targaryen
Haus-Targaryen's picture

Oh fuck this nonsense.  Just crash already. 

Wed, 04/22/2015 - 16:27 | 6019535 Hype Alert
Hype Alert's picture

Nah, they put the manipulator in jail.  It's all good now.  ;)

Wed, 04/22/2015 - 17:25 | 6019799 golden torch
golden torch's picture

I freelance over th? internet and earn about 80-85$ an hour. I was without a job for 7 months but last month my paycheck with big fat bonus was $15000 just working on my computer from my home for 5-6 hours. Here's what i have been doing... www.globe-report.com

Wed, 04/22/2015 - 18:23 | 6019996 Thirtyseven
Thirtyseven's picture

Or you can earn $100/hr. by being a plumber.  It's work, but if you think your local plumber who runs his own gig isn't doing well...think again.

Who's paying you this bonus by the way?  What value are you producing for others?

Wed, 04/22/2015 - 16:08 | 6019485 venturen
venturen's picture

someone somewhere is printing money to throw into the inferno! 

Wed, 04/22/2015 - 16:09 | 6019490 Jonesy
Jonesy's picture

Jewbux all around!

Wed, 04/22/2015 - 16:10 | 6019494 Not_FieldingMellish
Not_FieldingMellish's picture

This is only the beginning. Just wait until they REALLY get serious. S&P 2300 by 2016.

Wed, 04/22/2015 - 16:11 | 6019499 KnuckleDragger-X
KnuckleDragger-X's picture

Rumors and rumors of rumors, the market has escaped reality completely.......

Wed, 04/22/2015 - 16:12 | 6019502 Not_FieldingMellish
Not_FieldingMellish's picture

Yeah, I heard that rumor too.

Wed, 04/22/2015 - 16:14 | 6019508 Frank N. Beans
Frank N. Beans's picture

This is just so much zebra manure.

Wed, 04/22/2015 - 16:35 | 6019576 Dr. Richard Head
Dr. Richard Head's picture

...a flying sheep's queef, if you will. 

Wed, 04/22/2015 - 16:16 | 6019512 Keltner Channel Surf
Keltner Channel Surf's picture

Purely from a daytrading standpoint, one of the few “normal” days in 2 ½ months:  opening selling vacuum down to major MA’s on the index with the best Daily chart technicals (SPY), then a strong bounce with other indices rising in sympathy, falsely attributed to Home Sales data (we fell sharply through 10:15, SPY 20/50 DMA was algo catalyst).  No bizarre 5-hour horizontal stasis, no sine wave shenanigans.  (By "normal" I mean machine-controlled standard)

Wed, 04/22/2015 - 18:03 | 6019921 IntercoursetheEU
IntercoursetheEU's picture

Yet scarcely a peep out of the VIX, which retreated back to a near term low. Perhaps we need a VIX for the VIX.

This is like a tsunami video clip, where puzzled tourists are enchanted by the retreating waters. Not one animal died that day, unless they were in close company with humans.

Wed, 04/22/2015 - 16:19 | 6019527 FreeShitter
FreeShitter's picture

Been long and hard since 2009. Keep buying the dips bishez..

Wed, 04/22/2015 - 16:33 | 6019571 Kilgore Trout
Kilgore Trout's picture

You should have called your doctor after 4 hours.

Wed, 04/22/2015 - 16:37 | 6019581 FreeShitter
FreeShitter's picture

Keeps the hoes happy bruh

Wed, 04/22/2015 - 17:03 | 6019679 kliguy38
kliguy38's picture

The only thing long and hard is Lloyd's dick in your right ear.

Wed, 04/22/2015 - 16:19 | 6019529 Keltner Channel Surf
Keltner Channel Surf's picture

“Your (Algo’s) Song”  by Elton John

(to be sung by your favorite algo)

It's a little bit giddy, this feeling inside
That’s not the sort of trade one could easily hide
I don't have much money but, boy if I did
I'd mortgage my house and fade everything you did

And don’t tell anybody that was your trade
It must seem quite obvious, now that it's failed
I hope you don't mind, I hope you don't mind
That I took the other side
How wonderful life is while you're in the market

I sat on the pivot and captured your loss
Well, a few of your trades
Were like a rhino playing lacrosse
But I know I’ve not been kind to you in this song
But you must learn quickly, or you’ll never last long

So excuse me forgetting, but my memory’s not strong
You see I've forgotten if you were short, or were long
Anyway, the thing is – I hate to be so mean …
Yours were the dumbest trades I've ever seen

But, I won’t tell anybody that was your trade
It’s really quite simple, ‘cause now
You know you’ve been played
I hope you don't mind, I hope you don't mind
That I offer these words:
How difficult trading is in a post-algo world

Wed, 04/22/2015 - 18:47 | 6020067 RallyRoundTheFamily
RallyRoundTheFamily's picture

Yes

Wed, 04/22/2015 - 16:23 | 6019532 Osmium
Osmium's picture

Facebook beats (according to MarketWatch), so escape velocity tomorrow.

 

Ebay just beat too.  it's quite a game.

Wed, 04/22/2015 - 16:24 | 6019545 Never One Roach
Never One Roach's picture

Now I've seen everything!

 

My Islamic Faith Prevents Me From Paying Interest on My Student Loans

 

http://www.huffingtonpost.com/steve-rhode/my-islamic-faith-prevents-me-f...

Wed, 04/22/2015 - 16:57 | 6019649 DutchBoy2015
DutchBoy2015's picture

ChristStains used to be against usury also but the Jews put a stop to that.

Wed, 04/22/2015 - 19:31 | 6020208 TeethVillage88s
TeethVillage88s's picture

Well the Roman Church became Christians, so... who are you talking about here.

Not that I think you are being Catty.

Wed, 04/22/2015 - 16:25 | 6019547 cpnscarlet
cpnscarlet's picture

I'd buy more gold if it wasn't for all the money I lost on gold.

Wed, 04/22/2015 - 16:28 | 6019556 Not_FieldingMellish
Not_FieldingMellish's picture

Don't worry. It will be much more affordable for several more years.

Wed, 04/22/2015 - 18:53 | 6020089 RallyRoundTheFamily
RallyRoundTheFamily's picture

I hope so.  If you bought phys would you trade it in for 3000\oz?

 What about 30000?

Wed, 04/22/2015 - 19:07 | 6020142 TeethVillage88s
TeethVillage88s's picture

U have to decide if you are storing wealth or not.

Next if you traded, what currency would you want to trade into??

Perhaps you would want Swiss Franc instead if USD. Perhaps Canada with its mining & Gas & Petroleum would have a strong value?

Wed, 04/22/2015 - 19:28 | 6020118 TeethVillage88s
TeethVillage88s's picture

I don't get it Tylers seems like a life insurance policy, vested, paid up to state limit, could earn like 6% or 7% each year and allow a healthy monthly payout to keep it below the state limit, tax free.

- Stocks, no way, even blue chips and big Cap Stocks are unknown risks and subject to warfare
- Bonds, are you kidding, high yield muni are full of risk and all bonds are subject to warfare

- Property & Real Estate, No, subject to maintenance costs, insurance rate rises, property tax increases, non-payment by Insurance, Rodents, Water Damage, Inflation of Home Depot Prices, who knows what Risks

- Precious Metals, maybe a small portion of portfolio unless you can get gold for $500, $600, $700 an once or silver for $8 an once

- CDs, not now we are at .5%

- Bank Individual Savings Account, not now

- Buy up Tax Debt on Properties to take over Title, sort of um-ethical

Era of Wealth Preservation in full bloom since investments are limited to Businesses which by their nature are RISKY.

So Survival Gear might be Best?

- Food, Seeds, Long Shelf Life Items
- Alcohol of most kinds
- Tools, Work Shops
- Guns & Ammo, and Reloading Gear
- Recycling Materials & Supplies, Raw Materials, Processing Chemicals
- Cold Weather Gear, Camping Gear, Generators, Emergency Equipment, Survival Gear, Sleeping, Cooking, Toilet Paper, Toilet Kits, Medicine with long Shelf Life, First Aid Gear, Lumber, Nails, Duct Tape, Bailing Wire, Electrical Wire commercial Grade, Barrier Material, Fencing Material, Bunker Material, Water Purification Tools, Devices, Filters, Chemicals

Wed, 04/22/2015 - 16:25 | 6019551 Baby Eating Dingo22
Baby Eating Dingo22's picture

Does ZH ever put out anything new?

Just keep the stories up and change the date

So much easier

Wed, 04/22/2015 - 16:30 | 6019566 disabledvet
disabledvet's picture

Again...pure speculation...sure looks like massive short covering to me.

Since inflation traders are massively short Government debt and the dollar they're being forced to sell SOMETHING as real estate gets annihilated.

So they sell treasuries at the long end causing the dollar to surge, commodities to get hammered and equities to "melt up."

All with ZERO recovery and "divergence" in interest rates between the world's other two reserve currencies.

Meaning treasury rates and the dollar still have room to run (meaning lower rates=stronger dollar.)

I say again: the Fed must start charging the Banks interest...or else...

Wed, 04/22/2015 - 16:32 | 6019568 foodstampbarry
foodstampbarry's picture

The whole shit show is comical at this point. The only thing more pathetic is watching a fat chick on the dance floor.

Wed, 04/22/2015 - 16:39 | 6019587 FreeShitter
FreeShitter's picture

Or just watching fat chicks period. Talk about a boner killer.

Wed, 04/22/2015 - 16:36 | 6019579 Grinder74
Grinder74's picture

SSSSSPPPPPPPPOOOOOOOOOOOOOOOOOOOFFFFFFFFFFIIIIIIIIIIIINNNNNNNNNNNNGGGGGGGGGGG

Wed, 04/22/2015 - 16:49 | 6019614 rogerthat
rogerthat's picture

What the hell is BFTD? It's seen in the 3rd chart

Wed, 04/22/2015 - 17:07 | 6019710 bombdog
bombdog's picture

Buy The Fkn Dip

Wed, 04/22/2015 - 16:57 | 6019647 allinwood
allinwood's picture

its melting up like magma in greenland

Wed, 04/22/2015 - 16:59 | 6019665 assistedliving
assistedliving's picture

BILL GROSS! BILL GROSS! BILL GROSS!BILL GROSS! BILL GROSS! BILL GROSS!BILL GROSS! BILL GROSS! BILL GROSS!BILL GROSS! BILL GROSS! BILL GROSS!BILL GROSS! BILL GROSS! BILL GROSS!BILL GROSS! BILL GROSS! BILL GROSS!BILL GROSS! BILL GROSS! BILL GROSS!BILL GROSS! BILL GROSS! BILL GROSS!

Wed, 04/22/2015 - 23:53 | 6020886 junius
junius's picture

Bill who?

Wed, 04/22/2015 - 18:04 | 6019927 walküre
walküre's picture

big boyz are selling and moving to the sidelines and PPT moves it back up

crash is coming when all big boyz are safe and PPT pulls the plug

you have been warned

Wed, 04/22/2015 - 18:51 | 6020081 Cityzerosix
Cityzerosix's picture

Nice rhyming

Wed, 04/22/2015 - 18:31 | 6020021 Cityzerosix
Cityzerosix's picture

I Robot

Wed, 04/22/2015 - 18:35 | 6020032 Kirk2NCC1701
Kirk2NCC1701's picture

Observation: Bonds keep sliding, and will continue to do so, but Stocks keep rising.

Q: Extrapolated out (months or years), is it theoretically possible for Bonds to crash, but for Stocks to remain high?  IOW, is there a scenario where stocks could be used as a mechanism to park money during a Bond collapse? 

Or are stocks being held high to keep the much bigger Derivatives market from becoming unbalanced and then imploding/exploding? 

Any experts?  Tyler?

Wed, 04/22/2015 - 23:54 | 6020889 junius
junius's picture

Bill who?

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