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Biotechs Battered Most In Over A Year; Bullion Bid As Stocks Skid
What every Biotech bubble-owner, Greek FinMin, and Chinese housewife is asking right now... it seems everybody is shaking down everybody, creditors shaking down Greece, Greece shaking down local governments; and "markets" shaking down their central planners with these brief reminders of what happens if they don't get their money...
It all started early...with a pump off the China QE news and a dump seemingly triggered on USD weakness post-Greek FinMin Varoufakis "containement"...
The cash indices just could not hold any BTFD ramps... 7 Dips bought and failed... Dow outperformed (AAPL), Small Caps underperformed...
Nasdaq was Knackered by a breakdown in Biotechs... down 7.5% from Friday highs and back below its 50DMA...
This is the first close below the 50DMA since October...and worst day in over a year... when Janet Yellen warned! (not we mnade a lower high before this dip for the first time)
And The Dow was saved by AAPL.. ahead of earnings...
Treasury yields held a fairly narrow range - higher yields into the US open, then a rip lower as the dollar dropped.. then weakness again after Europe closed...
The Dollar dumped when news of Varoufakis 'containment' hit but bounced a little after Europe closed... (note CAD and AUD strength around 10ET... as commodities soared)
The Dollar Index touch ed a one-month low before bouncing...
Commodities surged as the dollar dumped then stabilized...
Notice the pattern in silver around the US open.... didn't quite worj that way today...
Whether the catalyst was Varoufakis knock on efgfects into the dollar or this was driven by a realization that China QE means hard assets get bought next as China's Mo> suggests is unclear... but for sure the flows were heavy and aggressive.
Charts: Bloomberg
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https://www.youtube.com/watch?v=YHv5jgXz9I8
I thought today would be the day when Nasdaq proved it could go all the way, and then some. Will have to wait for tomorrow, surely there is a central banker down there (somewhere) to bounce me up.
This is also interesting "Container Store shares down nearly 20% after results"
I can't figure out how Varoufakis efgfects the dollar ...
If Greece goes (gives the finger to its creditors), that may give dirty ideas to Spain, Italy and others, whose debt are still held by banks (unlike the greece debt, which is held by the Troika). That cannot be good, so better be safe than sorry.
Stoopid internets, made me duplicitous.
It's obvious Rainman, he fires up his wererfkj and then sticks it in his kjwatejh. And viola, the dollar is efgfected!!!
UP VOT We efgfected sum floks ......
Best of the day TS !
“Stairway to Hell” by Led Zeppelin
There’s a Fed Chair who’s sure all that craters is gold
And she’s printing a stairway to Hell
When she gets there she knows if our stocks have been sold
With a word she can get us to buy more
And she’s printing a stairway to Hell
There are signs in the market, but she wants to be sure
‘Cause she knows some Fed words have dual meanings
In a trade by the book we’d be long through next spring
Some think all of their ‘dots’ are misleading
Ooh, it makes me wonder
There’s a ceiling, I guess, as I look for a rest
And I fear it is ripe for retreating
In my charts I have seen annual bars, tall and green
All the choices for those in cash, looking
Ooh, is that thunder? Really makes me wonder
And bears whimper that soon if they lift-off in June
Then the snipers will shoot the Bull’s knees out
And blue days will dawn for those who stay long
And the poorest will bellow with laughter
If they add muscle to your hedge fund, don’t be alarmed now
It’s just a spring squeeze in the making
Yes there are two paths we can go by, but in this bull run
Still a strange one-way road we’re on
Your clock is running and it won’t slow, in case you don’t know
The bulls keep calling you to buoy them
Dear lady, can you see the fund flows? Well, they should all know:
Your Chair relies on the market’s whim
... and she’s printing a stairway to Hell
"Competitive devaluations" is the road to economic hell.
Have the Muni's in the US will go bankrupt if Jewmer gets his way here.
The fact that what must happen (charging .25% interest to Banks instead of free money) only means that.
With election season now well underway...
Wankers, the whole effing crowd.
Stop giving wankers a bad name!
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