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Nasdaq Suddenly Spikes Above March 2000 Closing Record High

Submitted by Tyler Durden on 04/23/2015 11:59 -0400

Just because...

Nasdaq is now above the closing record high... 5132.52 is the intraday record high....

WTF!

Wondering what the lever was?

But this was broad-based panic-buying...

It appears we were wrong....

Today's data may not be bad enough for new all time highs

— zerohedge (@zerohedge) April 23, 2015

Charts: Bloomberg

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Thu, 04/23/2015 - 12:00 | 6022331 NoIdea

No bubble here, nothing to see. Move along now and buy some more stocks.

Thu, 04/23/2015 - 12:04 | 6022354 Hype Alert

Mission Accomplished!

Thu, 04/23/2015 - 12:06 | 6022373 SHEEPFUKKER

Get outta our stawk market Chinese house wives.

Thu, 04/23/2015 - 12:09 | 6022397 Creepy A. Cracker

BULLISH!!!

Buy high!

Sell low!

Thu, 04/23/2015 - 12:16 | 6022449 mtndds

Wow, things are looking REALLY scarey. This is not going to end well.

Thu, 04/23/2015 - 12:20 | 6022479 Pool Shark

CONGRATULATIONS!!!

If you bought the NASDAQ on March 10th, 2000, you just broke even after 15 years, 1 month and 13 days!

Thu, 04/23/2015 - 12:25 | 6022503 kaa1016

This is such a bullshit market, but it is what it is. Time to buy puts on VXX again. That front end of that curve has to steepen and that's going to kill VXX. Unreal...

Thu, 04/23/2015 - 12:33 | 6022543 Pool Shark

[PS: If you buy the NASDAQ again today, you'll probably break even again by May, 2030...]

Thu, 04/23/2015 - 12:36 | 6022559 AcidRastaHead

Can't be spoofing or layering, because they already caught 'the guy'.

Thu, 04/23/2015 - 13:03 | 6022672 Hype Alert

He's locked up, so it's safe to go back in the market.

This is just the rush of people returning.

Thu, 04/23/2015 - 13:03 | 6022677 Osmium

when the "markets" are rising, no need to look for a scapegoat.

Thu, 04/23/2015 - 12:37 | 6022565 poland spring

Buy and hold. /sarc

Thu, 04/23/2015 - 12:54 | 6022636 Goldbugger

Technically if you bought the NAS back in 2000 you just broke even . A friend of mine bought CSCO at 57 back in 99 and still hasn't broke even.

Thu, 04/23/2015 - 12:39 | 6022575 KnuckleDragger-X

Looks like they found the button for ludicrous speed and things are getting truly interesting.....

Thu, 04/23/2015 - 12:14 | 6022439 ebworthen

Markets thinking if they pump it up higher the FED will have to keep rates at zero and prepare QE4.

Thu, 04/23/2015 - 12:00 | 6022334 swass

This is where things get interesting.

Thu, 04/23/2015 - 12:00 | 6022335 swass

This is where things get interesting.

Thu, 04/23/2015 - 14:55 | 6023141 PartysOver

Houston, we have a problem. The BLS is now tracking the ZH Up Votes and Down Votes.

15 Down Votes for This is where things get interesting.

followed by

16 Up votes for This is where things get interesting.

Thu, 04/23/2015 - 12:02 | 6022340 khakuda

Kind of makes you wonder how the Fed folks sit around everyday thinking, "IT JUST NEEDS MORE JUICE!!!"

Thu, 04/23/2015 - 12:02 | 6022344 Kaiser Sousa

"nows a great time to get in there...."

- Shoe Shine Guy -

Thu, 04/23/2015 - 12:07 | 6022381 Yen Cross

lulz~

Thu, 04/23/2015 - 12:10 | 6022409 Creepy A. Cracker

That's a Bill Clinton quote as well.

Thu, 04/23/2015 - 12:06 | 6022353 spastic_colon

they're not even trying to hide the fraud anymore....all indexes suddenly went straight up at 11:50 EST....

anyone want to tell me why IBM needs to go up $10 in 3 days?

Only 10 more weeks until EOQ window dressing....oh wait it's already started

Thu, 04/23/2015 - 12:07 | 6022380 thismarketisrigged

because FUNDERMENTALS!!!!!

Thu, 04/23/2015 - 13:20 | 6022753 Temporalist

There is a reason all you ZHtards but you refuse to believe in the hope and change. Here is the reason it's clear that this is a BTFATHAD (AD is "And Dip") moment:

Puerto Rico officials warn government shutdown imminent

https://ca.news.yahoo.com/puerto-rico-officials-warn-government-shutdown...

Thu, 04/23/2015 - 12:13 | 6022429 philosophers bone

But the fact that all indices went up at exactly the same time proves how remarkably efficient our market have become. HFT allows the market to achieve maximal efficiency by reacting to positive news simiultaneously across all markets. Gone is the old 20th Century notions of markets over-reacting or under-reacting which were the result of human imperfections, as well as human "manipulation". Our markets have achieved near perfect efficiency, This frustrates active portfolio managers who can no longer "pick" stocks which are undervalued since that concept is now irrelevant. The only thing to do with your money now is to buy the indices. They are perfectly priced so you are guaranteed to be getting fair value - not necessarily below value, but fair value.

How'd I do?

Thu, 04/23/2015 - 12:32 | 6022540 spastic_colon

A+ you were able to achieve perfectly efficient sarcasm without using any sarcasm.

Thu, 04/23/2015 - 13:23 | 6022768 Blano

Impressive (lashes out with light saber). Most impressive.

Thu, 04/23/2015 - 12:05 | 6022364 Osmium

The "Smart Money" Has Never Been More Bearish

How is that working out for them?

Thu, 04/23/2015 - 12:23 | 6022490 MFL8240

Osmium, this prives that this market is not sustainable. It will go down far quicker.

Thu, 04/23/2015 - 12:06 | 6022370 MFL8240

This is insane when yopu look at the state of the economy and the global distress signals. The stock market is supose to be a forward looking indicator. What I see in our future is a disater! What am I missing?

Thu, 04/23/2015 - 12:12 | 6022421 walküre

Hyperinflation?

Thu, 04/23/2015 - 12:13 | 6022433 Callz d Ballz

nothing

Thu, 04/23/2015 - 12:30 | 6022461 khakuda

You already know the answer. Markets are no longer markets. Central banks globally have broken the most important market (interest rates) by intervening continually at unprecedented scale and scope since Lehman fell. By intervening to push interest rates to zero, every other asset market gets inflated. For central banks to aggresively intervene for a few months or couple years as was considered normal decades back meant asset prices would get overpriced, but didn't have time to get into a crazy bubble. Nowadays, they intervene for years to decades, so asset prices get way out of whack with reality. Of course, this should not be allowed, but the Fed and others are unelected, so they do what they want and no one can stop them.

When the fall happens, they usually have the media backing as they point the finger at everyone else for the disaster that results from long periods of mispriced money.

One of the most dangerous things in the world central bankers can do is keep interest rates below the inflation rate for long periods of time. It is guaranteeing bubbles and other trouble.

Thu, 04/23/2015 - 13:25 | 6022776 Temporalist

It started before Lehman; that was just the moment everyone decided they hadn't done enough manipulation and gave them the keys to the kindgoms.

Thu, 04/23/2015 - 12:06 | 6022372 yogibear

Bubblize it to the max. Historically cheap fed money funding buybacks.

Successive never-ending QEs.

Esculating debt.

Let's see how Japan's Abeonomics works out.

Thu, 04/23/2015 - 12:10 | 6022405 Yen Cross

BOJ Keeps Record Stimulus After Inflation Data Drops to Zero - Bloomberg Business

Thu, 04/23/2015 - 12:07 | 6022384 disabledvet

Fed will start charging interest in 3...2....1....

Thu, 04/23/2015 - 12:09 | 6022395 yogibear

When a currency crisis occurs.

Thu, 04/23/2015 - 12:08 | 6022389 yogibear

Keeps going up until a threshold is hit. Could be a lot higher with a ocean of cheap fed money.

Thu, 04/23/2015 - 12:08 | 6022390 FreeShitter

QE forever bitches.

Fri, 04/24/2015 - 02:15 | 6025119 shouldvekilledthem

nothing lasts forever

/grabs popcorn

Thu, 04/23/2015 - 12:09 | 6022399 thismarketisrigged

WE NEED SOMETHING REALLY REALLY REALLY CATASTROPHIC TO HAPPEN IN THE FINANCIAL SYSTEM, SOMETHING SO OUT OF CONTROL THAT THE FED CAN NOT REALLY STOP IT.

BECAUSE LETS BE REAL, THESE FUCKING BASTARDS, WHO SHOULD ALL BE ROTTING IN A SMALL JAIL CELL FOR LIFE RIGHT NOW, WILL NEVER JUST STOP PRINTING MONEY AND BUYING STAWKS.

I AM ROOTING FOR SOMETHING SO CATASTROPHIC TO BRING THIS CRIMINAL SYSTEM DOWN, BECAUSE THAT IS THE ONLY THING THAT WILL END THIS FRAUD ONCE AND FOR ALL.

Thu, 04/23/2015 - 12:13 | 6022430 walküre

the crooks will pull the plug soon enough... BIS is not living off stock gains

Thu, 04/23/2015 - 12:22 | 6022488 Kaiser Sousa

Hey Riggged -

STOP YELLING......

just kidding buddy...im fucking pissed too....

cheers.

Thu, 04/23/2015 - 12:28 | 6022509 Inthegreen

HA HA

Thu, 04/23/2015 - 12:10 | 6022412 yogibear

QE until the dollar blows up.

Zimbabwe economics.

Thu, 04/23/2015 - 12:12 | 6022423 JimmyRainbow

so you got an answer to your claim.

something wonderfull might happen

Thu, 04/23/2015 - 12:14 | 6022437 JimmyRainbow

in other news german bnd helped nsa without knowledge of german government.

germans are really a pure satellite

Thu, 04/23/2015 - 12:15 | 6022447 Weaponized Innocense

Yea I woke up and we know they didn't want me to see me making money off the down market!
I was watching the indices every once in a while this morning from bed this am... But yea the second I got up the market got an erection.
I haven't dared look at my portfolio yet as we might have to hit 19K in a day.
It's the Kiki rule I am not suppose to see myself make money.
So precariously we prop up this market with lots of BS like its a natural security threat for me to make a buck.... Beyond the dick lick beltway of Hillary gets to pick who is rich and who is not like a queen witch of fascism.

Thu, 04/23/2015 - 12:17 | 6022458 entendance

Make your voice heard and tell Congress NO to TPP!

Don't Let Congress Fast-Track TPP

Banksters, Crony Capitalism, Crimes Against Humanity

Fred & EntendanceInvestors Beach

Thu, 04/23/2015 - 12:20 | 6022476 buzzsaw99

it actually makes perfect sense and i mean that most sincerely

Thu, 04/23/2015 - 12:32 | 6022538 Yen Cross

Yep.. You're spot on Buzz.

The addict has become so conditioned, and dependant that he/she is nothing moar than a monkey in a cage that gets rewarded for smoking Round-Up laced horse shit, with a sugar cube laced with ZIRP.

Thu, 04/23/2015 - 12:50 | 6022621 buzzsaw99

Hello Yen,

The Bernank only raised rates because oil hit $140/bbl. No chance of that happening in the near future. Everyone is long. Margined speculators, levered corporations, pension funds, central banks. Not one player is due to be a net seller for years to come except for the ira crowd who seem to be cashing out modestly. The only selling pressure could come if the fed raises the ffr above the s&p yield forcing out the hedgies but nobody believes that yellen or dudley have any ballz.

Thu, 04/23/2015 - 13:14 | 6022719 Keltner Channel Surf

YC & Buzz: can't argue with your points, the odd thing was the 11:52 NASDAQ blast-off time after another dull, low-volume start, preceeded by an 11:45 VXN slam. At 1:00, $COMP volume was the only one already hitting daily average, while other indices were at 1/4 to 1/2. So, while you're right Buzz about lack of selling pressure, today's particulars looked more like machines surveying volume & stops, and launching a stealth assault on $COMP. Now, the 10-YR yield's at day's low, strange atmosphere today ...

Thu, 04/23/2015 - 12:24 | 6022498 Baby Eating Dingo22

WOW!

Am I watching market indices or Olympian synchronized swimming?

All indices up nearly exact amount with perfectly maatched charts

I give it a 10

Thu, 04/23/2015 - 12:25 | 6022501 Keltner Channel Surf

Most perfunctory, least convincing "breakout" move I've seen...which probably means it continues strong thru close :)

Thu, 04/23/2015 - 12:32 | 6022539 Thisisbullishright

UVXY continues to fade into nothingness....

grab some popcorn and watch as it's inevetable fall to $9 continues as there is no more volatility....NONE!

Thu, 04/23/2015 - 12:33 | 6022541 surf0766

This is gonna hurt

Thu, 04/23/2015 - 12:35 | 6022554 ConManipulation

I remember the 2000 internet bubble crash very well. This is gonna make that look like a day at the fair, complete with cotton candy and fun rides.

Thu, 04/23/2015 - 12:35 | 6022555 Traderone

I wonder will they trap new thus clueless retail traders (longs) up here?

Thu, 04/23/2015 - 12:36 | 6022563 QE49er

Wow, thank God we have recovered. My house flipping business is doing well, I am now richer than ever before. Now it's time to buy some Facebook & Twitter stocks. Everything is Awesome!!!

I'm on a high that never ends, going to ride this like theres no tomorrow.

https://www.youtube.com/watch?v=JlSQAZEp3PA

Thu, 04/23/2015 - 12:39 | 6022573 Yen Cross

$22+ trillion , and all I did was break even... Mission unaccomplished.

Thu, 04/23/2015 - 12:40 | 6022578 Bear

Well how many Bears have headed for the wood shed?

Thu, 04/23/2015 - 12:44 | 6022595 besnook

someone is seeing what i am seeing. the sepia colored slurry of organic matter is approaching the point of an acute test of the adhesive qualities of a viscous liquid and a rotating assembly of slightly angled blades attached to a spinning cone.

Thu, 04/23/2015 - 12:46 | 6022603 goosee