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Sudden Selling Panic Sends Stocks Reeling On Dollar's Best Week Since Lehman
VIX Smashed, Euro Trashed, Bonds Cashed, Stocks Dashed... and Markets BREAK!!! 1517ET BATS BYX HAS DECLARED SELF-HELP AGAINST NASDAQ
In case it was unclear from all the positive spin post-Yellen speech... (h/t @jonvthvn)
On the day - it was very quiet with some excitement around a hot CPI and not-hot Janet Yellen
Everything might have been awesome for The Nasdaq and Small Caps high-beta buffonery, but Trannies werer trounced on the week...
Sectors were very mixed on the week...
While cash looks relatively stable... the serious swings in the equity markets are much clearer when looking at futures...
NOTE - just look again at the week in cash and the week in futures... now look at VIX!
VIX was smashed to an 11 handle - lowest since early December...

Before it started to rip back higher and so th emarket broke...
Treasury yields ended the week higher - jumping notably after today's CPI data...(but note the flattening of the curve - 5Y notably underperforming 30Y)
The USDollar rose well over 3% this week - its best week since Lehman...
Led by a 4%-plus collapse in the Euro - its worst since Lehman...
The USD strength kept commodities under pressure (with copper worst)... higher than expected inflation - sell Gold!
Crude had another magical v-shaped recovery week...
Charts: Bloomberg
Bonus Chart: Did the Microsoft curse strike again?
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The green shoots ran out of steam...the PPT must have left the office early for the holiday weekend. Have a great Memorial Day weekend everyone! http://www.marketwatch.com/#Abandon ship!
They know what's coming and they want their protection cheap! Smash the VIX.
Look at the volume on VIX calls today....
RUN FOREST ! RUN!!
Nah, BTFATH. Only one winner per cycle.
VXX set a new annual record low today. The prior record was set yesterday and the prior record to that was set the day before. 3 days - 3 record lows. Heh
VXX is always like that, a perpetually sinking ship with brief moments of great performance. Kind of like the US dollar.
speaking of lehman ..
Lehman Brothers Sues Three Financial Firms Over Soured Mortgage Loans
http://hedgeaccordingly.com/2015/05/lehman-brothers-sues-three-financial-firms-over-soured-mortgage-loans.html
But were biotechs buggered?
Klonopin took care of that.
I figured a green close was a certainty before the weekend. Maybe the algos shut down early to avoid the rush out of town... ;->
If it was a euro only holiday this Monday , you could blindly just place longs at the pit open. Watch next time Euro has a holiday and the US is normal trading. 9 out of 10 times low volume ramp sessions.
BFD on the week. Tightest range in 100 years.
and now a .23 drop in the S&P is a panic. Strange times my friends.
I didn't think it was possible the algo controlled S&P could ever go negative before a holiday weekend? Just seems impossible. Maybe they're just playin' with us and the S&P will be up 1% on Tuesday to give us that post-holiday lift?
Somebody plugged the machine in backwards. Shit happens!
Got long Puts into next week as of two days ago...probably too long in the puts....probably gonna regret it, but hey fuck it, it's only fiat
And fuck you Yellen
Think they'll flirt w/ new highs early Tues on SPY and QQQs, but when they see RUT lagging everything will make a quick dump for the 50 MAs, perhaps as a resting point, perhaps for more. Pre-holiday air-pillows, nothing more. Good luck to you
I'm hoping for a trapped long scenario over the weekend...maybe a nice 200-300 gap down...is that too wishful of thinking?
Really hoping this break in the acending triange on the daily from 5/14 till today was the rollover for IWM. 4hr RSI turned south on Tuesday and they have been fighting to keep the RUT up ever since. Every large volume trade today on the Rut was a sell with the typical low volume algo ramps back up only to be met by large sell volume. We tested and broke the 50day today on IWM before the bounce...maybe we get back and retest the 100 day again...markets look weary, Trannies sucking wind, seems like a bit of a buyers strike.
One thing is certain, we will get a break either higher or lower next week...this drift has worn out its welcome. Good luck to you as well.
If this range continues another week, I'll throw in the towel and put in an application at Kohl's, cookware department. Just love the soft plastic grips on the OXO accessories, can't be harder to sell than this market ...
(Worst case might be the Daily Keltner top, Russell ninjas will be gunning for it, think they'll fail)
I've already got an application put in for pool boy at Old Yellers place....if I can score an early release, it might be worth the stretch....
early release of the minutes that is....ha!
Probably have to keep this in mind before shoving off to work every day though
https://www.youtube.com/watch?v=sHjlM5A1jME
lol!!!!
Just becareful in those instruments. I use to trade them and just couldn't do it anymore. I usually only mess with crude as I found it more respectable if that even exists in todays false markets. I will say the past month and a half in crude has reminded me of ES with the last 30 minute ramp a thons.
On a side note: They have been ramping crude right after pit close. Hence low volume ramps. Just my observations this week. people were starting to catch on.
Thanks for the warning, but....I'm a bit masochistic, nothing like the pain and pleasure of trading 3x ETF options....if you are going to lose, at least lose big and make it sting. /s
I hear ya buddy. Go big or go home.
she must have one of those mungo - crane type chair lifts to get her deformed body in and out of the pool, if you get certified to operate could be a nice bonus?
what about Home Depot... Cramer says they are crushing it, must be room for some new hires?
They keep the A/C higher at Kohl's, and have a nice spoke pattern, unlike HD's 55 aisles. As a trader, I like to pace nervously to and fro, I'm not used to walking far from a central location ...
To J-M-F: only person getting early minutes release is Liesman, which is why futures jump at 1:57, while CNBC clerks type in the graphics
LOL! you really have it planned out, far be it from me to dissuade you...
This week had the tightest range on the DJIA in 100 years. SPX was about the same. 10-4 on the throw in towel.
SPY set 2 freaking records this week. How many you want? :-)
The traders just knocked off a half hour early to snort a pile of coke out of the salad bowl they use when cutting Yellens hair
best post of the week, plus 1 million yellen shekels!
Energy trading w/ cult favorites Madder Rose from “The Car Song”
Picked up some Nat Gas
And pulled up a fresh quote
Same as it was before
So I'll try to get some sleep
Try to get some rest
I guess you already know
I think of you all night long
I’ll think of you all night long
Think NG all night long
But I’ll try to get some sleep
Check quotes at CT 4:00
Just 15 minutes more
Then collapse back on the floor
For ¾ hours of sleep
Try to get some rest
yellen is in charge, i'm headed to the hampsteins with a fat wallet bitchez!
so if you see me cut you off in my BMW 650i or my ugly j wife in the Range Rover, with my ugly j kidz ...suck my ballz!
Don't forget your kevlar ;)
is that good on a bageL? i MUST try it...
Back in the day they took bagels seriously. They would look you in the eye and ask you how you wanted it and what you wanted on it--all without breaking eye contact.
Nowadays they slap it in a fuckin microwave and say, "fuck you, pay me."(I imagine they are thinking when they say, "that will be $11.32") without ever maintaining more than 2 consecutive seconds of eye contact.
this recovery is so badass... gas is still UNDER $3 a Gallon.. Fuck Yeah!!!! Party time in the Walmart parking lot.. 40 ouncers all around Bitches!!!!!
Apple Inc.
NASDAQ: AAPL - May 22 4:37 PM EDT
132.54Price increase1.15 (0.88%)
Speaking of Lehman, I had the hottest date the other night ... at least the hottest ... since Lehman wnet under.
the scharade continues. maybe the economy will get better, ha, lol, on that note, have a greeeEEEEAAAT, awesome tony the tiger weekend.
everything will be alright, rock-a-by-baby...
new game/ you KNOW thats RIGHT! LOL!!!!!
I don't have any kind of stocks, or bonds, or T-bills, or ETFs, or any of that stuff, and if every bit of that loses 100 percent of its value overnight, and the whole system turns to dust and powder and blows away, I don't care anymore. Good riddance.
All I have is a rapidly shrinking stack (*all* my Ag sold for pennies on the dollar, three-fifths of my Au gone the same way). The pitiful remnant I keep desperately trying to hold on to seems to lose more purchasing power every day. Or at least it never goes up.
I want to know where metals prices are headed, short term. Not in three or five or fifteen or thirty years. For instance, what effect will this three-day weekend have?
Short term metals are going nowhere. If you are looking to beat inflation in the short term would suggest selling PM's and take a look at the S&P VIX charts. Don't get greedy or have a bias one way or the other. Buy at the low end and sell 10% gains--rinse repeat. By the end of the year you should be looking good to buy more PM's and still have a decent trading account. I am thinking 11's on the VIX is a good buy--see a bounce to 15-16 sell. Wait for 11's again.
Maybe no good?
Best since Lehman?
Holy Fuck.
-53.72 HOLY SHIT......Everything since Lehman....
Really? Seriously? This is more bullshit than you get on CNBC.
I agree that the market is a mess, that a huge crash is absolutely unavoidable but WTF sort of headline are you going to use when it happens?
I finally heard something interesting and useful on CNBS today. Of course I already sorta knew it from watching the tape and charts.
This week had the tightest range between high and low on the DJIA in 100 years. The fuckers simply will NOT allow stocks to go down. I think there is some sort of gentleman's agreement to that effect. That or the fucking Plunge Protectyion Team is shoring things up. Perhaps a Cabal?
http://finance.yahoo.com/echarts?s=%5EGSPC+Interactive#{"comparisons":"SPY","comparisonsColors":"#cc0000","comparisonsWidths":"1","comparisonsGhosting":"0","range":"5d","showPrePost":false}
Now this market looks an awful lot like a top is being made. Flat as a pancake, record highs being set and volume is weak. And complacency is at unheard of levels when one views VIX or VXX.
http://finance.yahoo.com/echarts?s=VXX+Interactive#{"comparisons":"VXX","comparisonsColors":"#cc0000","comparisonsWidths":"1","comparisonsGhosting":"0","range":"5d","showPrePost":false}
Fuck, I could move the Dow 54 points myself.
I really do love these market summaries. PPT in effect.
spam gif's
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not jpeg's
the whole thing is the WAY beyond weird.... (if you don't think it's fake you must be a retard or something)
.....well now sounds like the 'Boys' at plunge control will be taking an extended vacation in the near future, .......bitchez.