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Dow Red In 2015 As S&P Takes Out Key Support: Trannies Tank, Crude Clipped, Dollar Dumped
It seems the hangover from Friday's "good" news continues, warranting only one possible clip today...
First things first - The Dow dipped negative year-to-date, was briefly rescued by no-news Greece headlines...
And the S&P 500 (cash) index closed back below its 100DMA (at 2084.57) for the first time in a month... closing at its lows... (and falling further after hours in futures)
But while stocks were weak, the big moves were in The Dollar and Crude - both notably weaker...
The dollar was monkey-hammered today driven by a surge above 1.1200 in EURUSD... (3rd worst day for USD in 3 months)
As The Euro kept breaking significant levels...
Crude did not care but gold, silver and copper eked out gains...
In the only market The Fed cares about, stock indices were all weaker led by more turmoil in Trannies
The Greek headline was perfectly timed to ramp S&P 500 futures to VWAP (even though it was actually bad news)...
Notably, AAPL's weakness today weighed further on NASDAQ and leaves it the underperformer post Payrolls... Stocks closed "NOT" off the lows...
AAPL's day explained...
In case you missed it... Apple's Presentation was something like this... "am I right?"
The Treasury Complex was generally bid with the long-end underperforming (late day weakness in bonds driven by the no-news Greece headlines)....
With bond prices all lower post-payrolls...
Charts:Bloomberg
Bonus Chart: Whats wrong with this chart?
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everything is awesome
this Recovery Fucking ROCKS!!!!! ($3/ a gallon gas by 4th of July FOR SURE BITCHES!!!!!!!)
The victims need another beating.....
RIPS
Barry erases student loans for Corinthian students
3.6 billion charge to taxpayers
Sweet FSA FSA FSA!
Where are you at? Gas has been over $3 here in Northern Nevada for about 2 months now. I guess we are more awesome than everyone except CA (Over $4 in the LA Basin already).
Recoveries are awesome!
so far in Michigan $2.79 has been our HIGH (so far)
Orderly.
Dammit...I want the TRUTH!!!
The truth is ugly, savage, humorless and will cause pain in all you hold dear. The truth is the nightmare without the dawn. Truth is not a thing to want.
Truth is always a nesassary thing for reason and the things that ignorance and lies cannnot do. Truth is its self, anything less it cannot be.
Never want such a thing as truth, need it for speaking with nature for that is her only tongue.
Can one handle, truth all of it or must one double think on it.
Wanting the truth, indeed.
Stawks got beat down 9 out of 10 years there's been a Triple Crown winner. It's a sign from the gambling gods. Get out while you can !
long SPXU
I will be really surprised if this downward move keeps going all this week. Something might be really fucked if it does.
very impertinent for prices to go down without first getting the ny fed stamp of approval
I wouldn't be at all surprised if the Feral Reserve lets the markets have another October 2014 pullback so they can say "No 2015 rate hike."
Yeah, I am scared PAPA. This could be it.
Don't worry. The FED will fix it.
I agree. I anticipate a Fed stick-save propelling the DOW back over 18k and S&P over 2100. Tomorrow or Wednesday look good in my book. :-O
if this downward move keeps going all this week. Something might be really fucked if it does.
Really? How long have you been watching this show?
300 pt bounce higher tomorrow. Got to stay above 18000 on the DOW!!
Agree, that's my bet for tomorrow. I'm XIV long and expecting to see a good old-fashioned VIX monkey-hammering tomorrow. If not, I'll have a tight stop limit set. Betting on the Fed ALWAYS works, until the day it doesn't, and you'd better have your arse prepared for the day it doesn't. GL
6 x 3 = 18.
“Winning” AKA “Losing” by Santana
Only one day a year was I above the ground
When I wanted to short, shares always were found
I was so far down that I couldn't get up
All my life I’ve been one big loser
Even middle school kids were my accusers
And in the market I was lost before I begun
I had Zynga, then it nearly went bust
What I thought was DUG, that must’ve been DUST
I went short for awhile, then the walls fell in
It was if my hand picked up a hot poker
Such a sound, my screams must have woke her
‘Cause my margin clerk, she was waiting outside the door
I'm losing, I'm losing, I'm losing
The odds are 1 in 10 I’ll ever win again
Too bad TZA belonged to me
My wife lied -- said she got it for free
But I’m all long & happy as a newborn now
I can’t see the day that I’ll ever bleed
‘Cause everyone agrees my QQQ
Is the way to play the game, and to win again
I'm losing, I'm losing, I'm losing
But now I intend to start winning again
Careful here...think they are trying to catch down other indices to the RUT before a pop...RUT likely to stay strong for the duration of the pop but my guess is will lead downside thereafter. Seen this and been caught/burned in this wierd divergence before and it is usally right before a rip your face off move. They like to knock the majors down and then use a rally back in them to slingshot the RUT out of resistance...not saying it is going to happen again, but the majors aren't going to go higher without the RUT participating at this point and so far it has been dragging its feet. Either we fail here and get a good selloff or we get RUT participation/leadership.
I'm Strattled for this week (short calls and short puts ...keeping weekly decay on my side) at good prices thanks to last weeks volatility so in good shape up or down, even a bit sideways for the week as I already rolled the long leg (decay against me) of the spreads/hedges to next week in todays session at favorable prices. I'm expecting an outsized move, very soon as in this week soon.
FWIW.....In reading this...think I caught a case of the Gartmans....Hey could go up, could go down, long parachutes in rocket booster terms....ah screw it....just hang on to your nipples
While I understand your description of RUT’s role in the hedgie-wedgie world, something’s still wrong with how it’s acting, and I still maintain it’s related to euro QE and foreign pension buying. Hourly charts look like they're drawn by a psychopath, with DMI braided like a Christmas candy cane, not like the decisive RUT of old.
Happy with my switch to the QQQs, something you might consider if you hit a rough patch (or during the rebalance), as it seems to follow the same hourly technical patterns RUT used to (though ALL indices have been bucking Daily chart tech’s due to CB interference and Greek feta cheese). I’ve also lengthened my entry period to hourly, given the larger retracements in this shitty liquidity, which seems semi-permanent, given I’m never hedged as you are. Let me know how your strategies pan out.
Ha...the charts are drawn by a psychopath....and he/she rhymes with Hellen ;) Well between the two or four of us on here all trading this POS market, hopefully some of us can make some money. If I have to drop the RUT after all these years of pain and suffereing, I'm hanging up my spurs...I'll break this mare, or it will break me. Only sucessful strategy I have found as of late (late 2014-2015) is only trading for premium decay and playing both sides of the game...the profits are smaller because it would be lunacy to trade naked with size (and by size I mean 50-100 contracts), so you are stuck holding long on both ends further away from the money to hedge against one move or the other, but if you aren't greedy, you cash out on the direction going your way one minute and wait for this psycho-pathetic market to turn around and go the other, rinse and repeat. Shitty strategy, shitty trading, but all you can do in a shit market is be more psycho than the beast you are taming
The dollar crashes and oil is down as well is a big discrepancy.
We will see lower oil prices for sure....
but will it find its way to us peasants?
"If you want your Generalplan Ost you can have your Generalplan Ost!"
There's a tranch of news out of China later today. If it comes in shitty the PBoC will move even faster to additional QE and RRR cuts. That could cause a short squeeze in the European and U.S. equity markets tomorrow.
18:30 CNY CPI (MoM) (May) 0.0% -0.2%
18:30 CNY CPI (YoY) (May) 1.3% 1.5%
18:30 CNY PPI (YoY) (May) -4.5% -4.6%
* GMT-8
As if fundamentals matter.
The markets are just taking a little breather.
Schools are getting out, family vactions are starting. Most folks will be heading to the Vinyard to spend quality time!
We have nothing to worry about, Capt. Jack Yellen is at the helm, running along at about 20 knots, he may have to run her up a little to 30 knots, makes slamming into icebergs more exciting.
This whole system is as fucked up as a football bat...worldwide!
Under the great ocean of bullshit there swims a monster and nobody will see it because to do so would require facing many unpleasant truths, so the band plays on....
Would any of us really know the truth if we actually heard it? Maybe it's been too long ago that we heard it that it's no longer recognizable.
"Key support"? Wake me up when S&P breaks 1800. Until then we are just in a range.
"we are just in a range"
If you think these markets have any kind of correlation with capitalism then you are "deranged".
sadly, i allowed the ramp to VWAP to sucker me into going long when it pulled back to 2083.50 (previous days low), my thinking was that it would rally from there but alas she didn't and, for today, i was the sucker. please forgive me.
p.s. i exited for -4, a daytrader never leaves a position running overnight.
Shoulda just put it all on black.. jack.
Climbing the Wall of No Worries ---
The truth is that truth doesn't matter any more, as seen.
The sky is falling, the sky is falling
July 8 2015
S&P @ 2079.28
NASDAQ @ 5021.63
DOW J @ 17,766.55
July 9 2014
S&P @ 1951.27
NASDAQ @ 4338
DOW J @ 16943.10
Not yet, but it will be. You're just a little premature (again...) but hey, that's what excitement does to some folks. Size is only important when it's real, and not imagined or pumped up.
Is there any point any more in using an adjective before the word 'news'? It's pretty clear anymore that 'news' props up the market, no matter what kind.
Speaking of Trannies, Bruce Jenner spent his junior and senior years at NEWTOWN HIGH SCHOOL, SANDY HOOK, CT. (wikipedia). Go figure.
I'd do the math on this one but it would be far too nauseating. For the first time, I'd rather worry about the phony payroll data.
Chong Li.....Chong Li.....Chong Li!
To Quote our Prime Minister "A Rock Star economy" considering he is a fag banker, thats gold https://www.youtube.com/watch?v=2i9JvCZMUGQ
or the best of. https://www.youtube.com/watch?v=HDDDJvd3bQY
Not to worry, we'll get Janet on the horn with the BOJ and have them buy S&P futures tonight with printing press output.
No, they want a cashless society they'll just transfer digital zeros that are created by keystrokes. 000000000000000000000000000000 See, there's a few trillion right there.
OT: Does Monsanto seek tax inversion?
Jorgen has privileges, I see.
Monsanto might just hope they're safer on the island. I hope Jamie Oliver goes out there personally and sends 'em packing.
Monsanto is one of the 7 deadly plagues.
No worries, gas is on the rise so things must be booming like the say.
GDN's primary scenario saw this coming. A close below 17733.10 for the Dow would go along way toward confirming the major trend change from up to down...
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...
the dollar dump is temporary...
http://www.globaldeflationnews.com/u-s-dollar-indexelliott-wave-update-f...
OIL will keep falling although it could stall short term...
http://www.globaldeflationnews.com/oil-light-sweet-crudeelliott-wave-upd...
Bruce (Kaitlyn) Jenner's publicist was bemoaning the SAME situation on PMSNBC, today. H/She said that the 'the crude one' got 'clipped', but sales of movies regarding trannies 'tanked', and the number of dollars expected by the fianaciers in Chatsworth seemed to be 'slumping'.
Meanwhile, the DJIA closed lower, losing 71 points.
SHIT, Tylers, money ISN't SEX (unless you feel the need to pay for it)!
<is this 'SARC' really? Ask my two former wives...>