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VIX-nado, Dollar-splosion, & Crude Carnage Spark Dump In Stocks & Bond Yields
Jubilant Chinese investors did not help as good news is terrible news it would seem... despite Stan Fischer's confidence-inspiring message that "just the tip" of interest rate hikes won't hurt... *FISCHER IS RIGHT; MARKETS OVER FOCUS ON 1ST HIKE, EL-ERIAN SAYS
After an 'odd' day yesterday with BTFDing machines rescuing stocks, US equity markets reopening saw some selling overnight and then a deluge during the day session... (weak data early and 1230ET Fischer)
- *FISCHER SAYS FED COULD SLOW RATE RISES IF WORLD GROWTH FALTERS
- *FISCHER: FED SHOULD `EXPECT SPILLOVERS' WHEN POLICY TIGHTENS
Since Friday, the cash indices are all notably red... Trannies NOT off their lows...
The Dow traded back below its 50DMA (18,010) briefly...
And Trannies "Death Crossed"
Today was the biggest VIX (percentage) jump in 2015...
US equities roundtripped from the May 14th melt-up pre-OPEX spike...
And has almost erased all its May gains...
Trannies are a disaster year-to-date still...
Away from the stock market vol, there was turmoil everywhere else...
Treasury yields plunged...
The Dollar surged... now up 6 of the last 7 days...
This is the best 7-day run in the dollar since Lehman...
And Commodities cratered...
Led by Crude Carnage-ing back to one-month lows...
Charts: Bloomberg
Bonus Chart: Apple On Fire (literally)
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Well , there's still some time left for that ' sell in May... ' thingy
THEY KNOW NOTHING!!
https://www.youtube.com/watch?v=TaKnDMv6ceg
Hampton Hangover. I'm sure there were many discussions over the weekend about topping.
I'm just glad that "since Lehman" made it into the writeup.
Since Lehman®
Last time transports got hammered Bullard hinted at QE4. Will probably happen again.
One of the few days you could short early with confidence, given pre-holiday shenanigans sans volume often are 'corrected' on day 1 back from vacation before algos are coded with new instructions.
Unleash the Bullard!
What is this fixation on trannies? Leave Michelle alone! The late Joan Rivers should have followed that advice.
they are selling the airlines like it's 9/10/2001...
Noticeable.... when airlines should be happy campers with lower cost of fuels and increased fees for all kinds of extras. Airlines haven't made this much money since the Nineties. The selloff has that weird feeling.
BTFATH!
Bad news is bad news again. Markets back to normal.
/s
We'll see if we get any negative feedback loops. If China follows, it could get interesting.
There are unknown risks going where no one has gone before.
or btfd, lol.
Don't worry I'm sure the Plunge Protection Team will go into action shortly. Sometimes they turn off the high speed algo's for a day or two just for fun. It makes the market seem a lot more real to the average investor. However, those algo's will get turned back on shortly and then DOW 19,000 will come into play.
“Doves Will Tear Us Apart” by Joy Division
When shorting bites hard
And Fed Funds stay low
And leverage rides high
But incomes won’t grow
And we don’t ‘sell in May’
Taking off in ramp mode
Doves, doves will tear us apart again
Why did bond funds go cold?
Turned away the buy side
Is their timing that flawed?
GDP well’s run dry
Yet stocks still seem surreal
The Bull’s slept through nine lives
Doves, doves will tear it apart again
You try warning the sheep
All your flailing exposed
As we race toward a top
Desperation takes hold
Largest markets in the world
Just can’t function no more
Doves, doves will rip it apart again
Doves. doves will tear us apart again
Meh, give it a week and we will be back at new highs.
The fed will raise rates right after Japan does.
what ever happened to that terrorist threat color coded system?
it got Dubya re-elected, then stuffed down the memory hole
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/21/AR2009082103036.html
"we will be back at new highs"- I think you're right.
You could take this equity golem out back and shoot it, stab it, strangle it with its own entrails, shove cyanide up its ass, set it on fire, run over it with a Pontiac, throw it off a cliff to the jagged rocks below, find the ragdoll at the bottom and drive a stake through its skeevy heart, stuff it through a wood chipper and distribute the goo all over the countryside, and tomorrow it will be staggering around, up 150 points.
Amazing.
I say again
"There is no such financial beast as long treasury/long dollar."
Except for me....hehehehehehe
Could be a great time to be a bargain hunter.
Already a lot of deals in "beaten down sectors."
Could disagree with Dick Fisher more. The Fed does not "create recoveries"(nor apparently does the Government interestingly)...to show confidence in what we do have (we are no doubt the richest place on Earth right now) the Fed should normalize.
Yes we might have a "Valley of Death" here...but I would argue going back on Taper would be seen as confirming any weakness causing a Japanese style double dip.
We also have the problem of the dollar as already being the world's reserve currency...
today was a controlled selling day.
we have not had a real selloff since that october 15th day.
all this does is guarantee that the ''market'' will open up 120 pts tomm and recover all of todays losses.
this thing is one sick joke and until every banker is rounded up and shot, this will not end.
Today is the day I got all out... I have a strange gut feeling telling me things are about to get crashy.
until some heads roll there is no reason for the crooked bankers and their enablers to stop!
go ahead drop silver price
a few clicks here and a few more there
another tube of rounds
to add to the pile...
Probably recover it all plus some upon open in the morning. Shit Show rolls on.
Should bounce back up 50 - 70 % retrace over the next 2 days or so. Then buy more Puts. This baby has topped. Unless the PPT ramps up the algos. S & P futures is down 2 from the close. Right after the Cash close someone (PPT?) ramped up the S & P futures.