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Icahn Frets, Fed Threats & Greek Regrets Send Stocks Sliding
It had to be this...
Between Carl Icahn's frets over bubbles, Fed threats over rate hikes no matter what, and Greek regrets over unacceptable EU creditor terms, stocks just could not hold on to hope gains...
From The FOMC Statement, stocks are still green...
On the day Trannies were spanked... after ramping on DOE inventory data as algos latched on to oil idiocy...
VIX jumped from an 11 handle yesterday to a 13 handle today...
Trannies are back in correction...
Dow broke thru the 50DMA and tested the 100DMA...
It's been a volatile week... (but remember everyone told you that Greece doesn't matter and is priced in...)
NFLX pumped and dumped a few more retail muppets to losses today...
Deja Vu all over again from the last NFLX stock split?
AAPL was the oinly Dow stock green - thanks to Carl Icahn saying he has not sold any stock...
Greek stocks appear to still believe... (still up 7% on the week!?)
Treasury yields slid lower after 2 big selling days...Notice that after the big deals yesterday we rally in bonds today as rate lock pressure lifts...
The USDollar limped lower with modest EUR strength happening after the Greek deal appeared to fall through...
Commodities were a mixed mess - an early slam in precious metals was bid back then a EU close collapse in Crude and copper...
Biggest down day in Crude in 3 weeks...
One quick question - if Icahn is right that HY is in a bubble, then WTF are stocks in again?
Charts: Bloomberg
Bonus Chart: The Macro Bounce Is Over...
Bonus Bonus Chart: "that's what makes a market"
"We're in a sweet spot." #drink pic.twitter.com/e8apz5cWH2
— Rudolf E. Havenstein (@RudyHavenstein) June 24, 2015
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Yet, magically, the Dow is near 18,000 and the S&P still above 2100.
How much MORE Weird can it Get? (a lot i bet)
Xmas sales surge is right around the corner!
And ^VIX @ 13
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The S&P vs. HY Credit chart is a truly awesome display... geezum.
Please Jim Cramer tell me what to do..
https://youtu.be/V9EbPxTm5_s
I bet he wishes that video would go away then again we are asking people to remember a significant event beyond 24 hours.
S&P 500 versus HY Credit chart is perfect.
Combine that with NIKKEI highs and it might be better than a Hindendburg!
“When the Trend Line Breaks” from “When the Levee Breaks” by Led Zeppelin
If it keeps on straining, trend line’s gonna break
If they keep on selling, market’s gonna break
When the market breaks, HFTs won’t play
6-year uptrend taught me to trade on loan
Green old trend line, bought with home equity loans
God, if it breaks, make a million men lose their homes
Don't it make you feel bad
when you’re trying to make a trade
and you don’t know where liquidity goes?
If you’re trading down South
bids get jerked from the queue
before your orders reach Chicago
Hedging won’t help you, blue chips won’t do you no good
Stop-loss won’t help you, but praying might do you some good
When the trend line breaks, all longs will want to move
All last night, sat on the trend line and groaned
All last night, the bids weren’t throwin’ no bones
Was thinkin’ ‘bout my BABA and my big block of Vodafone
Going, going through Chicago
Tradin’ through Chicago
They say: “Sorry, but I can’t take you
It’s going down, going down now
Going down, going down, down down down…”
Classic!
Was thinkin’ ‘bout my BABA and my big block of Vodafone
I can hear Plant belting it out now- was laughing my ass off.
Ironically, given his net worth, he's probably got a huge stock portfolio (perhaps with some BABA?).
I think all that anybody really needs to know is that the implied probability of NO GREXIT in 2015 on the Betfair Betting Exchange is now 88%.
In other words, the Greeks will be back with their tails between their legs.
All that anybody needs to know is that it's all one big fucking lie keep the sheeple disoriented.
One way or another, the Greek people are getting austerity. The sooner they understand this, the better.
If I could give you one reason this Greek Tragedy has not ended it is this...
The west, America, UK, and the Germans need a common man, otherwise they cannot slavedrive....
And oh how we have forgotten the importance of the slave driver in world global trade...
So if "Carl Icahn is right and stocks are in a bubble" why the fuck am I buying Apple you glad handing fucks?
"The market is really all that Carl Icahn says because we're full of bullshit here too."
I mean seriously...stop at least sounding like a retard.
We've all been doing this a long time now.
This is just Janet Yellen pushing a peanut down the path with her nose. Nothing is changing and that's just what she wants to see, it means she can introduce some volatility by bumping up rates. Maybe this is a good thing, maybe this is the only way back. Or at least maybe it is a way back that can work.
What I really want to know is ,,,, just who the fuck is buying all this shit every time stocks fall by one half percent. And R 2000 serring records. At what 59 times earnings? And smaller companies get hit harder by rising interest rates.
WTF is right. But then who the fuck cares - I mean stocks only go up. Jeremy Siegel says so - Dow 22,000 by year end, And some guy shown above indicated that stocks ALWAYS go up 7 % EVERY year.Truly he said that with a straight face. That may be a long run average. How much stocks gone up over the past 6 years?
Patooey.