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"Blood On The Streets" - Bonds Battered, Stocks Slammed As Greece Suddenly "Matters"
How many Greeks will awake to this on Monday morning....
Before we start on the details, here is a quick summary of the turmoiling this week...
- Chinese stocks worst 2 week drop ever (CHINEXT -25%, Shenzhen -20%, Shanghai -19%, IPO -18.5%)
- Greek Stocks best week since post-Lehman dead-cat bounce (fell 37% after that)
- Trannies down 6 of last 7 weeks to 8-month lows
As the divergence between Industrials and Transports is getting insane...
- Nasdaq worst week in last 8 weeks (after record highs)
- S&P closed below 50DMA and tested 100DMA intraday
- Biotechs worst week since May
- USD Index best week in last 5 weeks
- Copper best week in last 8 weeks
- Gold worst week since March
- 30Y TSY Futures lowest weekly close since July 2014
- 10Y TSY Futures lowest close in 2015
- 7Y, 10Y, 30Y TSY Yield highest since Oct 2014
- 5Y Yield highest weekly close since Jan 2014
So suddenly - given no change in monetary policy machinations this week and no data to really spook or spectaculize the markets - everything was driven by Greek fears...
* * *
Remember Monday when "Greece was Rescued"... yeah...
Futures show the volatility even more as pre-US Open headline swings drove us all week...
Today was The Dow rescued by Nike's channel stuffing (NKE accounted for over half the Dow's gains on the day) as Nasdaq bit it on Micron's weakness...
June remains red for most but Small Caps love it... (all the rebalance bullshit)
Here's the last hour of the day in IWM (The Russell ETF)...
VIX had a week... from an 11 handle on Tuesday to almost 15 today...
NFLX knackered...
Micron Massacred...
Total and utter carnage in bond land today and this week...
The USDollar was well bid all week but the biggest moves were EUR weakness Monday and Friday...
Despite USD strength, copper managed gains on the week. Gold and Silver were ugly and Crude algos tried to rally it back but faded...
Just look at Silver today!!!!!
Charts: Bloomberg
Bonus Chart: Greece? or "Good" News?
Bonus Bonus Clip: Yeah, it's that bad...
"Grexit: the better choice between two bad outcomes" pic.twitter.com/HGOOjlFcAV
— Rudolf E. Havenstein (@RudyHavenstein) June 26, 2015
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YOU CAN'T HANDLE THE TRUTH!!!!!!
NEIN NEIN NEIN
Yep, now is where that great old quote from Hemingway's "The Sun Also Rises" might be apprpriate...
"How did you go bankrupt? Two ways. Gradually, then suddenly.”
Given the rape of the Confederate Battle Flag,
I think the Tylers should be careful what they say about "Trannys."
If everyone reading this worked a little harder to generate some extra tax revenue, we could save the system.
"knowing the truth is the easy part, saying it out loud is what's tough." Tom Booker, 'The Horse Whisperer'
A good weekend to clean your guns. All of them.
I just started 6 weeks ago and I've gotten 2 check for a total of $2,200...this is the best decision I made in a long time! "Thank you for giving me this extraordinary opportunity to make extra money from home. This extra cash has changed my life in so many ways, thank you!" www.earnmore9.com
I'll just take this opportunity to beg the Tylers to get rid of the pop-ups, video ads, and automatically-playing audio ads. They're annoying and are slamming my poor laptop's CPU as well.
Noscipt and adblock will end you're suffering.
Plus Ghostery and Disconnect.
And always use at least two condoms.
and a brown paper bag if she is ugly....plastic if she is really ugly...
then there is the "two bag date".....you wear a second paper bag over your own head (in case hers falls off).
Yes, Tim Knight. Exactly right. +1000
Noscript / Ad blocker plugins right click on each ad - select block domain. It's sweet I have zero ads when I come here.
Me too. AdBlockPlus is great. Had it for years and I even send them like $20 every time I think of it. Zero popups. The whole and right top bar is clear
Fucks up the Porn channels though because they choke the download speed at server.
Not that I watch any
Or you could take responsibility for your own needs and install an adblocker and script blocker. Both are free.
Nah, it's easier in America to bitch and moan and let someone else fix you problems.
Bitching while not moving off you're ass seems to be the national sport.
i was always told that was rioting, but that requires effort.
Stop Global whining now.
#AllWhinesMatter
What do you use on android devices? Adblock was gimped but can be configured to block on known networks (home and work) at least. LTE / open networks still have those ridiculous redirect ads that take you to the play store after a minute or so.
uBlock on my computers.
Tis a pain when I log in from one of the Libraries,
but they have to pay the bills somehow.
What's a poor Blog to do?
I choose the gimp.
And its gone!
Institutional investors embracing the so-called ‘safety trade’ are finding it to be a bit of a Faustian bargain:
“Safety Trade” from “Safety Dance” by Men Without Hats
We can trade like we want to, we can leave retail behind
Cause your friends all trade and when they make trades
They're like mud-flopping swine
I say, we can trade where we want to, an exchange they will never find
And we can act like we come from Virtu’s desk, leave retail orders behind
We can trade (and ping)
We can flip when we want to, our trap is sprung right at the highs
And we can spam and cheat till it overheats
Then surprise ‘em with a plunge in SPY
I say, we can spoof if want to, if we don't the other algos will
And we can jump the queue with liquidity removed
So that no one else gets a fill
I say, we can trade, we can trade, like rebate-gobbling trolls
We can trade, we can trade, we're doing it without vol !
We can trade, we can trade, “Look Ma, no hands!”
Make VWAP dance, they’re in a trance, nobody has a chance
Safety trade, with our ‘safety trade’, no one can safely trade
We can trade when we want to, we've got all your accounts and mine
As long as we abuse it, retail’s gonna lose it, everything'll work out fine
I say, we can spam if we want to, if we’re caught there’s a modest fine
‘Cause your friends can't spam and if they don't spam
Well, they're positively bovine
I say, we can trade, we can trade, everything’s under control …
"The dollar was well bid" you moron . Doesn't get any safer.
Everyone else is the idiot. here.
"Markets panic so as provide even greater deals for those with dolares."
If I didn’t like your posts so much, Vet, given they’re proof other dimensions and universes (or ‘branes’, short for membranes) occasionally collide and intrude into our own, I’d let you know that a) the real “safety trade” normally refers to utility stocks and b) parody had nothing to do with that, but was actually a pun on the lack of safety for retail traders in a world of algorithms and HFT barons, all to the tune of a silly 80s Canadian MTV band who wrote it after getting banned from a club for pogo dancing.
Mixing this whole stew with your cerebrum’s contents, would also love your take on postmodernism, and whether mixing "high" and "low" art forms using parody, pastiche, style imitation, kitsch or camp is actually a complex, reflexive attempt to both create and illuminate the arts from the inside out, a cop-out due to a lack of attention span and true technique, or simply the adverse impact of modern media, advertising, social media and electronic devices.
BUY THE FUCKING DIPS!!!!!!!
Only to close a short.
Things are going just swimmingly and I can hardly wait till Monday just to see all the awesome......
greeks = ...mr. soon to be living the rest of his short ass life in agonizing pain...
[/Marsellus Wallace]
Just in case anyone is wondering nobody has a clue what is going on. Kevin Walsh doesn't know, Janet Yellen, nobody.
And by the way, yes there is a cabal of bankers sitting around going, "Well we have to let gold appreciate a little, we can't hold it down for too long," and "Well we have to give up some bond gains because the dollar is running on borrowed time," but by no means do they have a real idea of what happens in the future.
If they think they will confiscate gold and guns they are batshit crazy. There is no way a bunch of stupid ass police officers paid in diminishing returns of the US Dollar will be able to find gold buried in back yards and guns hidden in tress.
NO. FUCKING. WAY.
who the fuck is Kevin Walsh?
Now can we issue the arrest warrants for Blankfein, Dimon and Yellen.
Poof! "Gone like a fart in the wind!"
What the hell is going on with Greece?
Mad shit.
Athens... Athens, Ohio?
Must be Athens, Georgia.
They have a football team.
sp futures really only down a point for the week not much fear out there as history has been kick the can. Basically game of chicken who will back down... if no one swerves then crash.
JMO, but this'll get fixed next week. Need to maintain the aura of "everything is fine, we're in control,nothing to see here" at least until the rubber hits the road in the Fall.
Additionally, Europe is about to go on their mandatory 2-month vacations, the US banksters are about to do the same starting July 4 and ending Labor Day, and none of them want to be interrupted while at the Hamptons, Cannes, Ibiza, etc.
Greece always mattered. The base case was just that they would come to some 11th hour deal to kick the can down the road. Now people are panicked because they realize they are really at an impasse.
Bravo Tim...commercial crap on ZH nothing but a pita...maybe the eyes can deal with it but it crushes my cpu as well to the point of major league annoyance...AdBlock does help but the code gremlins still won't leave me alone...and the ads are generally stupid to boot...maybe the Tyler's never do look at what a mess their site often becomes...
Central banks can create the illusion that Greece doesnt matter using open market operations, and have been doing so.
If the agreement fails over the weekend, the CB protocols for Sunday evening:
Buy bonds
Buy stocks
Buy Euros with USD
Sell Vix
Sell gold
Buy the dips boyz, Janet has your back.</SNARC>
I utilize this quote from Platoon as applicable which is quite frequently these days, "I got a bad feeling."
https://www.youtube.com/watch?v=2bCwyzT0Z6E
Never seen the full version of the SP Bank fiasco-just the kid losing his $100....
oh...a bonus Gimp!
ON the way up someones gain is another ones loss.
On the way down no one wins except the first guy to sell.