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Dismal Data Delivers Stock-Buying Frenzy
UPDATE: After the cash close, futures have tumbled - removing all post-US-Open gains...
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With a 'record number of Americans not in the labor force' and Wholesale Inventory data that strongly indicates a recession was enough to drive stocks up near all-time highs, there appears only one clip that is appropriate...
Jobs data was all that mattered and it appears it was just crap enough to warrant moar easy money... but it is clear FX and gold/silver traders appeared to get the news early...
Volume disappeared completely again...
But Stocks were what mattered...Today was The Dow & The S&P's best in over 3 months!! on shitty data!
And here are the cash indices from yesterday's lows...
As the greatest buying panic in 3 years hit at the open...the opening TICK count was extreme to say the least...
which lifted everything green for the week (even Nasdaq briefly) - and despite the best ramping efforts Nasdaq closed the week red
Thanks to the biggest short squeeze in over 3 months...
And even with Visa's jump helping stall the leak, from the first few minutes stocks faded all day long...
NOTE: Everything is awesome because Dow>18,000; S&P >2,100; Nasdaq>5,000
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Treasuries rallied notably on the jobs data but leaked back off in the afternoon to close modestly lower in yields on the day. Yields dropped for bonds out to 7Y on the week...
The Dollar was somewhat volatile around the payrolls print but was remarkably dead today, ending the week -0.5%. The dollar is down for 4 weeks in a row for the first time since June 2013... and the worst 4 weeks since Oct 2011
Copper was the only commodity to close lower on the week with Silver up 2%. Crude scrambled back into the green after a post-Payrolls plunge...
Stocks beat Silver post-payrolls...
Crude had another crazy week... but the head-and-shoilders is clear...
Charts: Bloomberg
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TWO gold smackdowns today.
IF I saw that Dow chart today on an EKG, I would put the poor critter out of it's misery.
TOTALLY UNRIGGED!!!
Gold spoofing and counterfeiting .... are the exclusive province of the Keynesians !
Given the low volume... why aren't Russia and China crashing this thing? It's not as though they lack the Motive, Means or Opportunity.
They only lack two things --
balls.
if either wanted to rip the u.s. regime's face off, it would buy silver futures and stand for delivery. it is the pressure point of greatest vulnerablility.
Fear not. DOW will surrender 18000 next week, then recapture it one last time....
dead and sholders...
That's right, we are calling a top. Take it with a few grains of salt cocaine.
Will it recapture 18k on it's way to 20k?
a complete fucking joke...up almost 300 points on the open and then traded perfectly sideways all fucking day...
even a complete fuckting moron can look at that action and know the shit aint real....
DEATH TO THE MONEYCHANGERS.....
Exactly. Even this valley chick can see it.
No doubt a blonde too. What are you doing here on ZH?
Thanks to Tyler(s) and the commentors I can now get a reliable source of news and financials, which now I have taken responsibility of my own life. I will admit at times it does suck to be awake but that truly is life itself.
Scientist, myself included, are working towards perpetual free energy, so we can ditch the PetroDollar & create a new economy...
Green Bucks replaced by Green Energy. ^.^
The Race to Free Energy is ON!
https://youtu.be/43kB20bHsTU
"I am at my stupidest when I try to be funny"----Al Swearengen
.
Pre-programmed for your convenience and amusement.
HFT Friday, like every other Friday!
Hedge that shit...
"DEATH TO THE MONEYCHANGERS....."
Yes, a nice SENTIMENT we can all relate to, but does jack squat in reality, unless backed by... ACTION.
Years from now, when our kids or grand-kids ask us what we did and what we lacked, we can tell them: Nothing, and Courage to Act.
there r 3 courses of action all are deadly to them...
1) dump debt coupon dollars in exchange for real money - Gold and Silver- while u can...
2) withdraw to the upmost from their fractional reserve banking system...
3) wait for the appropriate time and circumstances and KILL THEM LITERALLY1
u did c how close Peter Schiff was to Bernanke yesterday - didnt u..???
all things in due time man..............
"TWO gold smackdowns today."
Yeah, while we keep blaming Wall St, I'll bet that CHINDIA are livid and really pissed about this development.
Just for grins, when was the last time people here asked themselves some basic CSI questions regarding Motive, Means and Opportunity? Who Benefits, with these smackdowns, and has the Means and Opportunity to do so? Gee, lemme think...
...on no volume...
Equities look to be in a permanent plateau.
:))))))))))
As the traders say "the data don't matta."
Stocks no longer prisoner to EPS,Macro data, rates anything. It's all a free money grab.
Plafaux
Short stop hunt in May and watch them pay
In today's "market", the hedges collude to make money. The Bill Gross "short of a lifetime" was good for being short fixed income, which was good for a few days of movement before they got out on their leveraged bet. Colluding on the shorts is saved for Friday action. Retail market might as well forget this unless you feel lucky. Love the employment numbers, part time + 450k and full time -225k= great economy. EVERYTHING based on the stock market performance. Good luck.
Which reminds me...the nastiest words on TV? "Ward, weren't you a little hard on the Beaver"?
Is it too soon to offer an early-bird special price on DOW 20K hats ?
Dont forget to include the slogan:
"I bought Dow 20k at the top"
my hat says "fucked again"
get one that says "BTFD". Get you a bumper sticker saying"The FED made me rich, how bout you"
I wonder if a knowledgeable ZH-er could explain the persistent post-Jan pattern of absolute horizontal equity indices in day sessions, other than 1st hour and last 15m. Some have mentioned hedging, but I would think that would be more evident on longer timeframes. And my limited understanding of option strike-pinning, perhaps incorrect, is that weekly closing prices are key, so I can’t understand why algos wouldn’t make more money playing pivot ping-pong for most of the day, then head for a level starting at 2:30, as they’ve always done with VWAP. The only thing that comes to mind is heavy short-term straddle selling after the open, giving incentive to keep ranges thin, but wouldn’t 80% of the most powerful firms have to collude, and don’t they all hate each other? Seems a recent phenomenon, a killer for intraday traders, and I just don’t get it …
It's called rigging. They put on their positions in the last half hour and then move the market overnight on no volume. As for the firms hating each other and not colluding Hahahahahahaha! All part of the same cabal
Sure, I was aware that was happening, but don't understand why they don't do both: take closing positions, and make money moving the day session on thin volume, as they clearly did from 2011-2014. Watching 2-min charts, you can see they're expending tremendous energy keeping things flat, 2-min volatility envelopes are boomeranged at extremes -- it's not just happening by default or neglect. Still, the last hour QQQ volume at double the other bars lends creedence to your theory. Big boys using Daily charts cut out small-time intraday mom 'n pop traders, I suppose.
Dark pool trades were 40% of all US trades last year , versus 16% in 2008. See today's cash close meltdown chart < above >
http://www.investopedia.com/articles/markets/050614/introduction-dark-pools.asp
Definitely, just saw it on the finviz.com site: perfect horizontality at the top of the page, but when you mouse over the indices at the bottom left, the carnage is evident. Get Joe Sixpack to put in an opening buy order Saturday night for Monday on 'strong' Jobs rpt, while you've already taken RUT back toward the Daily Keltner bottom. I asked the original question not through naivete, but in recalling past blog posts showing movement in day sessions vs. overnight has varied over time, and clearly we're in a "fuck the daytrader" period. Usually never hold overnight, but may have to start.
I think that ' fuck the daytrader ' thing has been going on for a while now.
Ha! Second oldest profession, right? Still, you'll find quant blog posts showing the "overnight" effect has varied. I see that as a separate issue, late positioning versus complete day stasis, only recently has the latter become a constant pattern. As someone who's (unfortunately) seen every 15m bar of markets from Aug 2011 to the present, I can say intraday volatility was omnipresent, except in late August, until about Jan 27 of this year, when it completely collapsed.
The Algos are clearly colluding. Effing flat as a pancake. Day after Day. Really effs up options trading as well.
I wanna meet their drug dealer, since it's obvious that they are geting much better drugs than I can....
No, a C wave in May, that just wont go away.......
I think a nasty inflation is unavoidable at this point.
The Government already knows it has bankrupted the bulk of "lower Government." All real assets save "financliaized ones" have been destroyed.
Time to destroy the dollar to tell "dem po folk" what they really think of them.
If I hear "Goldilocks Jobs Report" one more time today I'm going to throw my TV out the window
Even more annoying for shorts is the fact that, in a common version of this children's story, Goldilocks eats the Bears' lunch, sleeps in their bed, then escapes just in time, without receiving any comeuppance. CNBC commentator's henceforth to wear golden wigs.
Don't you get it? It's a fairy tale...just like the market and report!!! Goldilocks= Old lady Yellen. 3 bears are Greenspan, Turbo Tax Timmy and Edward Quince Bernanke. She came into the CB (old cottage), ate all the porridge and is now asleep in bed. We are waiting until the Bears come home ( ie ratio of Bulls to Bears in market. ) Yellen will soon be chased off and never heard from again!
“Whistling in the Dark” Bruce Springsteen remains a cautious bull:
I buy stocks in the evening, cheap names have already been played
I add my hedge in the morning, would short ‘US Macro’, but no symbols trade
I’ll soon be retired, and can put my CFA back on the shelf
Hey there Janet, I could use just a little help
They can't start a correction, can't start a correction without a spark
This one goes higher, even if we're just whistling in the dark
Messages keeps getting cloudy, economic data all over the place
I check my risk on Argo, I want to change my stop, my strike, my trades
Man I ain't getting nowhere with a boomerang whipsaw pump like this
Been whistling so hard, can no longer feel my lips
We can't go much higher, can't go much higher without some spark
Fed guns for hire, ‘til then I’m just swimming with the sharks
Stay unhedged in this town and they'll be carving you up alright
Still, you gotta stay hungry; hey Janet -- I'm just about starving tonight
I'm dying for some action, sick of sitting 'round here trying to hedge this book
I need a little retraction: Why’d you give “considerable time” the hook?
We can't start a fire frettin’ ‘bout all these parabolic charts
Can we this push higher even as we keep whistling in the dark?
We can't keep a fire if the world metanarrative falls apart
Fed guns for hire, though we may be just whistling in the dark
Even if we're just whistling in the dark
(In the video, Courteney Cox begins dancing with Bullard)
V
"Dismal Data Delivers Stock-Buying Frenzy"
"Dismal Data Delivers FUTURES Buying Frenzy"
fixed it for ya
Cash equities did nothing today. unless you're trading FUTS or FX, which is to say, trading directly with or against CBs... ahem... sovereign hedge funds, there is nothing going on in equity markets.
"Totally normal, totally healthy."
Wankers united.
A lof of fund managers for the larger 401K funds buy or trade in the last 30 minutes of the market. so that may explain some of the action that people are asking about.
It's difficult to know why there is still sustained buying that is keeping this market up. BUT look at it this way. And this is simply an example. Suppose you are a buyer for the central bank in Switzerland. Maybe you figure that there is a downside risk of 20% if US stocks go through a moderate correction. But if you also believe that the US dollar could appreciate by 20% relative to the Swiss franc over the same time, then you are EVEN. So you are seeing bets on what markets will do, in relationship to currencies. It's becoming more about global flight-to-safety.
Of course, if the Dow tanks by 50-60%, then all bets are off.
YOU ALMOST GET THE FEELING that someone inside the American establishment is going around and "talking up their game". "Look, we know that a moderate correction is gonna' come. But we will NEVER let this market sink by 50%".
Chart of the day courtesy Incakola News:
http://incakolanews.blogspot.de/2015/05/chart-of-day-is_7.html
BTFD (Butt fuckin' deal).
Putin Super Tank Fail
For weeks Putin was broadcasting and parading his military stuff on the fabulous Red Square as he prepared for Victory Day Parade that celebrates the 70th year since the German Nazis surrendered.
With all eyes on the newest most powerful Russian T-14 Super Tank had a glitch during a rehearsal and turn d into mule mode, refusing to budge
The T-14 Armata is to surpass all Previous tanks as it is equipped with a remotely controlled cannon and advanced protection for the operators.
But then that is what rehearsals are for. Tomorrow is the parade and we will keep you posted.
https://youtu.be/pQgKxIvHQSg
How many people were killed? I kind of remember some really cool and expensive US projects that didn't do so hot, either. And people were killed.
Not only is Putin in charge of the Russian government, like Kim Jong Un/Kim Jong Il/Kim Il Sung, he has state-sponsored movies made that tout how great he is.
All in pursuit of that statistically-impossible-for-a-free-vote majority at 86% of the vote. Russia fails on so many levels. May 7, 2015 Ivan TsvetkovA recently aired documentary film about Vladimir Putin – “The President” – raises concerns that a new “cult of personality” is already starting to emerge within the Kremlin.
President Vladimir Putin attending the Second Media Forum of regional and local media. Photo: RIA Novosti
Even three years after the start of his third presidential term on May 7, Russian President Vladimir Putin never ceases to amaze those around him. In the eyes of some people, his image has begun to acquire the features of a demigod who has come down to earth to help mankind and make the world a more just place to live. Look no further than the new documentary film “The President,” which recently aired on Russian television.
This film is completely unrestrained, endlessly (a full two and a half hours without any commercial breaks!) glorifying the achievements of Russia’s national leader during his fifteen years in power. The four years during which Dmitry Medvedev was the president seems to have gone unnoticed by the filmmakers.
On screen, Putin succeeds in everything he undertakes, solving all problems, from the smallest details in a house (in one scene, he checks whether the radiator is properly heating a new building constructed for victims of a natural disaster), to international crises, in which the intervention of the Russian President is required to correct the errors of his inept and arrogant foreign counterparts (a role often filled by the President of the United States).
In the film, there is no criticism, and not even a hint of doubt that the course being pursued by the President was not only the right one, but also the only true path. The desire of the producers, it appears, was to present a gift to their dear leader in honor of the 15th anniversary of his “ascension to the throne.”
However, Putin’s personal involvement in the actual creation of this living television monument points to a deeper sense of what is really happening. In recent months, Putin has been very enthusiastic about participating in the genre of the “memoirs interview.” Recently discussed were his frank revelations to producers of another laudatory documentary film – “Crimea: Path to the Motherland.”
It is noticeable that he feels the most comfortable in this genre, answering questions with great interest and a twinkle in his eyes – as opposed to the once popular (but now looking rather uninspired) “Direct Line with the President,” which this year came off as quite boring and impersonal.
It seems that the “father of the nation” should, above all else, love to talk to his people about the actual current problems, while Putin, for some reason, prefers to talk with the producer of the movie “The President,” the hyper-loyal television presenter Vladimir Solovyov, about his memories of affairs of bygone days.
Putin seems to display the most positive emotions when he speaks about events in the tumultuous year 2014, which demonstrates one very important political fact – it seems that the Russian president really has no regrets about the decisions that he had made about Crimea or on other sensitive issues. He does not consider that sanctions and the quarrel with the West are a form of payback for certain misguided actions taken by the Russian leadership.
In the film “The President,” Putin again voiced the idea, which he has repeatedly expressed, and apparently, is gradually acquiring the status of an unquestionable truth (the very status, which classic Marxist-Leninists had during the days of the Soviet Union): “The sanctions are not a response to Crimea, but the traditional attempts by the West to contain Russia.”
Putin has convinced himself, and seeks to persuade the audience, that Russia has always experienced and will always be under pressure from the West. As a result, to set limits on Russia for the sake of earning the goodwill of the United States and Europe is pointless and counter-productive. It makes more sense to do what feels right and profitable, without worrying about the reaction of London or Washington.
The consistent implementation of this idea into practice destroys any hope of normalization of relations with the West. This normalization cannot happen in principle, says Putin, because it is contrary to the laws of history. At best, Russia and the West can count on forming temporary alliances to fight an external enemy, as was the case during the Second World War or after September 11, 2001.
Then again, it is very telling that the producers of the film “The President” have no plans to surprise the audience with some fresh ideas from Putin.
During 2014, Putin appeared on TV as an ideologue of the new Russian foreign policy. In his speeches, he talked much about the crisis of the West, the inevitable cooling of relations with the U.S., a Europe tired of the dictates of the U.S., the need for further rapprochement between Russia and China, the value of conservative ideas, and above all, the political leadership of Russia as the only world power that dares to challenge American hegemony.
Many of the ideas that were expressed during 2014 were fresh and attractive. Thanks to them, the Russian President won the sympathy of Russian and international audiences.
However, in 2015, judging from the clearly noticeable desire to reflect back on “memoirs” during his appearances on television, Putin has either lost his ideological ardor or something has happened that has made him take time off from coming up with new political rationales. During more than 10 hours of answering questions in various formats during March and April 2015, the Russian President did not offer any new interpretations of contemporary international relations, or even adjust any positions expressed by him during 2014.
Of course, 2015 has not yet seen an event equal in scale to the events of the “Crimean Spring,” which has slowed down the process of formulating new ideas in Russian foreign policy. One should only rejoice from the reduced tensions, but the glorification that filled the “intellectual vacuum” amidst the 15th anniversary of Putin’s presidency (not so round a date, by the way) is very ominous.
THE RUSSIAN PRESIDENT “BURNT HIS BRIDGES” AND WILL NOW BE FORCED TO SEE IT THROUGH TO THE END. NEVER IN HISTORY HAS THIS PATH LED ANYONE TO ANYTHING GOOD
Apparently, the predictions that were made by some historians and political scientists in the spring of 2014, in the wake of Crimean events, have been confirmed. Back then there was much talk that – having embarked on the path of strengthening Russia’s political position by means of territorial gains, and betting on the revival of the country’s imperial power from days of the past, the Russian president “burnt his bridges” and will now be forced to see it through to the end. Never in history has this path led anyone to anything good.We see today that President Putin is laying his bets on the freezing of the Ukrainian conflict, and, perhaps quite sincerely, is hoping that no more major military operations will occur in Ukraine.
However if Putin’s approval ratings (now swollen to unimaginable heights) cannot be supported by the continuation of successful military operations, it will be necessary to maintain it in some other way, because Putin now simply will not be able to retain his power having an approval rating of 40-50 percent. That might be quite a decent level by Western standards, but he needs his 86 percent, and it does not matter at what cost.
The method to achieve this goal seems to have been chosen by Putin’s spin-doctors – the formation of a cult of personality for the national leader, an inclination that clearly exists in Russian political culture. Some chiefs of Russian media may even think that modern information technologies have paved the way for the formation of the “cult of personality 2.0,” which is easy to initiate and, if necessary, to nullify. In the interim, they hope, it could be enough to maintain the people’s enthusiasm at the right level.
However, most likely, these hopes are not well founded. The economic downturn and the ongoing external sanctions pressure suggest that any attempts to solve the age-old political problem (preventing imperial authoritarianism from turning into totalitarianism) via new media technologies are unlikely to be successful. This is especially true if the offering is not something new, but simply the return of the old cult of personality. This is a country, remember, that recently was proud of the fact that it was able to overcome the previous versions of this collective insanity.
If the “cult of personality 2.0” turns out to be a farce, we can soon expect a return to the old, tried and even dangerous ways of keeping a leader’s approval rating at 86 (and preferably 99) percent, which could overshadow the excessive zeal of broadcasters in their attempts to express universal love for the president.
If Putin will be able to prevent a new escalation of international tensions and maintain power despite the inevitable reduction of popular support to a reasonable level of 40-50 percent, he will go down in history as one of the greatest presidents. He would have been able to do something that no one was able to do before.
The opinion of the author may not necessarily reflect the position of Russia Direct or its staff.
http://www.russia-direct.org/opinion/president-and-cult-personality-20
Do your State Department paymasters know you are wasting your time on ZH?
They find these folks with a 'I need a job to feed my kids' sign hanging around their neck on Washington sidewalks... They give 'em some shitty tablet, give them a Tim Hortons gift card and pay 'em 50 cents per line, give 'em templates and a list of websites, and voila.
meatloaf..... FUCK!
as others have mentioned above, todays ''market'' action, like many other days was an absolute joke.
if people still believe this ''market'' is a regular ''market'' and there is no rigging, then i own the golden gate bridge and im looking to sell it.
to fucking go up as much as it did right from the start and then trade in the narrowest of ranges with absolutely zero volatility is a complete joke.
gap down on monday no worries mates.
WTF???? You got the right day?
http://finviz.com/futures_charts.ashx?t=ES&p=m5
S & P futures at 8:30 ET show NO fall off after cash close. Up 23.50
https://biblicisminstitute.wordpress.com/2014/07/17/is-america-cursed/
Two guides to investing are all you need to know. No reason to scratch your heads about bad news sending stocks higher.
1. The Fed rules the markets
2. Soft economic news, like Friday's jobs data, portends a delay in Fed rate hikes.
Therefore, soft economic news send stocks higher.
But wait a minute. I just finished a front page Wall Street Journal article that told me how great the U.S. employment picture is.
Something doesn't add up here.
Hey whichever Tyler you are, your salivating slavery to annoying alliteration is perpetualy off putting. Grow the fuck up fuck up!