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Bonds & Bullion Beat Stocks As Fed Frenzy Fades
Do not worry... "it's contained"
From The FOMC Statement, Gold is 1st, Bonds 2nd, and Stocks 3rd...
and on the week the same picture...
WEAK CLOSE...
Trannies remain the big squeeze post-FOMC winner but Dow is the laggard...
On the week, however, Trannies lagged and ended the week red (down 4 of the last 5 weeks) as Small Caps (dominated by Biotech 'no brainers') led the pop...
Biotechs were up over 5% this week - the best week since Oct 2014 (up 7.25% from the lows of the week)
VIX ended the week unch...
Treasury yields ripped lower today and on the week the entire curve is lower led by a 17bps collapsd in 5y (among the biggest this year)...
The USDollar roundtripped on the day as late-day buying pressure for Swissy pushed it lower (but ended down 1.2% for the 3rd week in a row
Copper and Crude monkey-hammered on the day leaving gold and silver higher on the week...
Remember it's OPEX (Quad Witching)
h/t@NorthmanTrader
* * *
While stocks leaked today, the real Grexit fears are evident in Swissy...
European VIX...
and Bitcoin... (biggest week since January)
With that in mind, we leave you with this thought for the weekend and Monday's bank opening in Greece...
Charts: Bloomberg
Bonus Chart: Moar Flash Crashery...
List of stocks that suddenly jumped at 15:50:00 pic.twitter.com/AAnorFj2tM
— Eric Scott Hunsader (@nanexllc) June 19, 2015
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Changing the rules again are we? If there's one thing that I find disreputable, it's a poor sport.
Only teerists buy gold...the one you can hold that is.
If the economy crashes badly enough I'll be able to afford keeping some babes around as sex slaves. I'll put them in chastity belts and perpeptually deny them orgasm. It's the American way.
Be sure to keep them locked in a bank vault and don't give the combo to any one-armed angry feminists.
You sound like mr. Yellen.
“Lisa Says” - Lou Reed/Velvet Underground
Lisa says at levels like this
it‘d be so nice if GDP could miss
Lisa says with inventories in a big pile
stocks could ramp for the longest while
Lisa says, Lisa says
Lisa says you must be some kind of fool
to think the Fed’s out of tools
Lisa says when she drinks 3 quarts of beer
FOMC minutes become perfectly clear
Hey, if you're looking at a hawk like Charlie
Well, he’s not really where it’s at
You know, Bullard’s the one
grabbin’ free lunches, having his fun
Lisa says, Lisa says
(Why am I short SPY?
Gee, you know those good times,
they just seemed to pass me by
Why did I short SPY?)
Lisa says that the range is tight
That’s why she buys so late at night
Lisa says if she’d shoot a gun
the bullseye HFT’s could still front-run
Lisa says, Lisa says
Looking for a part of the action
all done to make us feel okay
But what will we find when the time has come
to end this bull run?
Lisa says
White Light!
Had the rhythm guitar part of "What Goes On" goin' thru my head today, for some reason. Funny how an 'obscure' 60s band many Top 40 fans never heard of can influence 'modern' acts like Stereolab, whose music seems unthinkable without them.
Is it me, or is this a rotation ponzi within a larger ponzi ?
RUT strike pinning is almost too absurd for those watching. Major indices all down and it closes nearly unch for the day...unreal...there is no liquidity in this market if an entire indices can be pinned at unch...God help anyone who wakes up on a major down day and tries to find an exit...there just simply won't be a bid, at least not a favorable one
Yeah, recall when OPEX could provide firewords, if only in the last 45 min. Now, add it to the list of "don't trade" days (along with virtually every other day of the month). And unlike most times, don't think it's a conspiracy, I think the algos would love to see the standard moves happen (Keltner traversal on hourly charts, etc), but when they see a complete lack of follow-thru orders, they keep turning the boat around, like an ancient explorer tryin' to discover America in a bathtub.
They have really screwed the pooch this time around...no retail folks will buy this market at these levels and that has always been the exodus plan, there simply is no exit of size...the Fed knows it, the big firms know it...no one of size can jump first or the whole shebang goes nuclear. Think we are almost there... Feels too much like 2007
Primary dealers won't help (what a surprise), but you'd think a few of the bigger public funds, at upcoming quarterly meetings, might get the green light to raise a little cash, especially with the mini-spike in yields, but as long as cash equivalents yield nada, larger rebalancings won't happen. Thus, they could give us a 3.9% 'correction' then sit on their hands until Oct.
Now ya know why they have prepositioned all that military hardware around the USA. They drop the ball this time their ass has had it. Not sure how I feel about it, the devil ya know and all that
Ha. ha. That military hardware will be used against 'them'. Mark my words!
Agreed. Couldn't happen to a better gang of POS in the universe!
Gawd I love that South Park bit.
Yeah so I dug out vital signs...bitch of a song.
Fun as hell on drums.
Another poster (don't remember the name, but s/he deserves the credit) said, and I paraphrase, that "S/he can't wait for the day when every single stock in an index is negative...but the index itself is positive. Mock him/her at your own peril."
Is that David Icke ?!
David Icke is one man I'd like to have a cup of coffee with. Doesn't matter what he says, it'll be interesting.
"I can't believe some of those Greeks still have money in the banks."
Will soon become
"I can't believe I still had money in a bank."
I've read somewhere that over-regulation is much worse in Europe. This was not the case 40 years ago. Now I must call the lawyer to go to the bathroom. No shit.
Yes shitting is extra.