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Dow Swings 670 Points In V-Shaped-Hope-Recovery Despite Commodity Carnage
Dude....
* * *
This happened... Remember Greece doesn't matter...
The Dow dropped 350 points from its overnight highs to stop almost perfectly at the close of Europe (1130ET) and then abruptly rallied a stunning 320 points back...
The S&P tested Sunday night's lows and the 200DMA before exploding higher...
Who could have seen that coming?
"Greek deal" rumors upcoming, rejections imminent
— zerohedge (@zerohedge) July 7, 2015
On the day, cash indices reversed perfectly on Europe's close...
Leaving stocks mixed on the week, with Nasdaq underperforming...
It appears that Oil was the momo igniter for stocks...
And VIX briefly hit a 15 handle - well below Thursday's closing levels...
Bear in mind that Greek stocks did not partake in the idiocy... but once US stocks astrted to roll, Greece caught up (so now we are seeing US equities lead Greek stocks fundamentally higher!!!)
As US Stocks ramp was all EURJPY-driven once again (just like yesterday)
Note that post-Tsipras' "Greferendum" announcement, Bonds remain the big winners...
Treasury yields plunged early as shorts squeezed and safety was bid but once Europe closed... sell sell sell...
The US Dollar collapsed into the close as EURUSD surged (for now good reason) and as we noted above EURJPY was running stocks today...
It's pretty clear what (or who) was helping things along...
Commodity prices plunged early on (led by crude and silver)
Oil prices carnaged early on, then bounced after EIA data suggested higher demand and chatter that the Irtan deal talks were falling apart (and Europe's close)...
As a reminder, shale stocks have been collapsing since Einhorn tried to bury PXD... (but they all v-shape recovered today)
Charts: Bloomberg
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Nothing to see here, move along now. Circus tickets to the left, food stamps to the right, train platforms straight ahead.
If that 10-point spike in the s&p from which the markets never looked back doesn't scream PPT I don't know what does. They were created for a reason, and manipulating markets is it, and they were out in full force today. On a day commodities get crushed, particularly PM's. It could not be any more perfect for the Fed and US government in the face of what is going on in China and Europe. That doesn't even sound like a conspiracy theory considering how open central banks have been with manipulation.
Of course they had to wait till Europe closed. Manipulating both markets would have been a bit much.
The levatron button was pressed
levatron or orgasmatron button?
17,776
Read that too fast, and was sorry to hear about Levar Burton's passing...
200 DMA is natural buyside mutual fund add to location. Since they're all in the same trades and there is no risk in stocks, they all buy. Not really surprising or unusual.
I would have green arrowed, if you had just said "Not really surprising or unusual." But, junked you for pretending technical analysis is meaningful.
Anyone tracking the 200 millisecond moving average?
where is robotarder/thisrideneverends... should be around about now...?
Pundits will wax poetic about the "Great Reversal", but it merely cements what we already knew: the persistence of machine bounces whenever major index DMAs are breached, so long as central bankers view equity markets as a key policy tool ... or until such bounce attempts fail.
Don't forget Goldman's no buying the dip comment at EU close then exact opposite happens.Pretty much like it always happens when they make a comment.
Yeah no shit. And I though BTFD was done....
Wait for Goldman to say BTFD, then you can confidently say it is done.
The Golden BallSach sellside dept is a perfect fade. Just ask their prop desks. . .
then there's Pimpco shitting on Treasuries < nice call by the tylers >.
http://www.zerohedge.com/news/2015-06-10/what-happened-last-time-pimco-dumped-its-us-treasuries
Don't you get it? If you want to stop being a George-like investment loser, you gotta be the "Anti-George".
Whatever GS says, you gotta do the Opposite. It's GS "code-speak", a nudge, a wink-wink.
2008-2009 almost woke the sheeple from their grass munching stupor.
Can't let that happen! If they see the wolves they'll scatter!
The central banks are selling VIX selling gold, buying treasuries and buying stocks to prevent the panic that would be happening right now due to 2008 lockup redux.
Truth and reality are now the enemy of the central banks.
yes, I agree...volumes heavy in gld looks like....they need to push down on gld harder when you consider the massive physical purchase volumes recently.
And the Central Banks are the enemy of the people...
2007 is here. Same death throws, same patient....wild vitals will be the norm for a bit... ventilation, morphine and some PCP kept it alive and jiving till now but CB's are out of options. Either inflate away the debt Zimbabwe style or stop the bullshit and let the greatest depression ever known to man run it's course. Either way the patient is toast. What a spaghetti mess these tools have made of things.
Nice call on the RUT 150 bounce, JMF. If the FOMC helps out tomorrow, we could see the 20MA and you'll have quite a windfall (unless you already sold some against it this afternoon).
Thanks KCS...getting too lucky for my own damn good so may need to take some time out here shortly...I did sell a little just to finance a roll of the hedged side. Sold 1/3 of the spread into the close to cover the delta on a roll down and further out of some of the busted long calls I was using as collateral that suddenly gained steam...sitting on the other 2/3 until tomorrow with hopes for a little more upside but I wanted to at least narrow the spread on the house and give it more time in case this move up has legs...still have the 85/85 calendar spread on along with a put spread to get some of the put premium.Hope you faired as well today.
https://www.youtube.com/watch?v=2Rw5MosKRm4
Lots of flashing lights and beeps and boops in the Casino today!
I get the feeling us little people are paying for the drinks.
Dude, you can't run an enginge that hot without it blowing up...WTF
Its a new kind of perpetual motion machine engine that does'nt need oil.
or greece
Pretty wicked shit here boys, feels like its only getting started.
really?
Today is a perfect day for your balloon comment. It should go up there with the crazy pills video.
and a 1 , and a 2, and a 3.....
https://www.youtube.com/watch?v=5akEgsZSfhg
AHAHAHAHAHAHAHA!!!!!
Thanks for the vid. I really didn't know it was a video. I love it and it is perfect.
this is more appropriate for these banker pukes
https://www.youtube.com/watch?v=FNatacUDuJA
dude you killed it with that one...
dyin laughing.....
lol!!!!I can just see Bernanke and Yellen doing this together. Since I said that i now must ask for forgiveness.
The show went to color in '65, after which the girl dancers soon lost all the petticoats, which made their twirls much more interesting, but on the downside, it marked the beginning of the end for Western Civilization.
Well, not sure if I should get excited or depressed with your comment. Shit stanley. +1
My tummy hurts.
Do you need a vomit bag?
The first picture in the bunch, they guy with a bloated face and steam coming out his nose. I find it highly disturbing, but not nearly as disturbing as the dachshund on my calendar.
Been this way for years and will continue until morale improves.....the big money left? Where? ....
As often as we see this and we see it a lot, it truly never ceases to amaze me how so many markets can be manipulated by machines. Why would anyone with half a brain invest in these "markets".
Frightening.
epic counter europe contagion ramp
“Bullard Trading SPY & DIA-monds” from “Lucy in the Sky with Diamonds” by The Beatles
Picture yourself on the Niagara River
In barrels, like sardines, with the big Falls in sight
Somebody dropped rates, she’ll raise them quite slowly
A gal spouting Keynesian lines
‘Sell in May’ candles of Yellen green
Towering over your head
Look for the guy with QE on his mind, and he’s gone
Bullard’s selling SPY & DIA-monds
Bullard sold some SPY & DIA-monds
Aaaaahhhhh...
Follow him down to a Starbucks in Ladue
Where powerhouse people eat blueberry pie
Notice his smile as he pulls up ‘bucks’ stock price
That’s grown so incredibly high
Newspaper lackeys are cheering for more
Waiting for retail to play
Climb in the barrel with your head in your knees
And you’re gone
Bullard’s dumping SPY & DIA-monds
Bullard sold his SPY & DIA-monds Aaaaahhhhh...
Picture yourself short a big top formation
With ‘unforeseen’ torpor, Fed forecast’s revised
Suddenly someone puts coins in the turnstile
The gal with big Keynesian eyes
Bullard’s buying SPY & DIA-monds
Bullard just bought SPY & DIA-monds Aaaaahhhhh...arrrrgh !
LMFAO! Epic,
MOAR, huh yeah
What is it good for?
Absolutely nothing, oh hoh, oh
MOAR huh yeah
What is it good for?
Absolutely nothing, say it again y'all
MOAR, huh good God
What is it good for?
Absolutely nothing, listen to me...
[/Edwin Starr]
a great one KCS!
FUCKING AWESOME AND AWESOME SONG CHOICE!
Just how I like my fireworks ... Unsafe, Insane!
Don't strap'em to to ur haid Billy Bob
http://news.yahoo.com/police-man-shoots-off-firework-top-head-dies-13593...
MW reports Chinese have halted trading in 20% of their stocks....
http://www.marketwatch.com/story/over-20-of-listed-china-stocks-now-in-t...
Can't believe China hasn't banned the word "halted" yet.
YAWN, SIGH...
Yeah, pretty much.
"Can't solve a debt crisis with more debt"...would appear "here we go again!"
Amazing how it just happens to happen after the EU markets close, somebody doesn't want to share. It looks like they've made a fresh batch of muppet burgers though.......
Do muppet legs taste like chicken?
Purrrrrfectly engineered algo's at work with the best mathematics that money can buy...so simple, a first year trader can do it.
Hope and Change.
Does it make sense now folks?
That's what you end up with after 8 years, pocket change and hope.
Don't forget the 'bleeding bunghole.'
...And this guy is just getting started. It's going exponential in the year ahead...
rumors, bitchez. ...and here I always thought pussy was the most powerful moving force on earth.
Let me introduce you to the Tandy 2000 from Radio Shack. A real market driver.
Pussy is a close second 1a. 1b.
Un Fing believable . I think they were running it up to try and help China.... If that goes completely to crap, then greece will be forgotten and irrelevant.
Everyday it's a-gettin' closer
Goin' faster than a rollercoaster
Love like yours will surely come my way
A-hey, a-hey-hey
Everyday it's a-gettin' faster
Everyone said, "Go ahead and ask her"
Love like yours will surely come my way
A-hey, a-hey-hey
Everyday seems a little longer
Every way love's a little stronger
Come what may
Do you ever long for true love from me
Everyday it's a-gettin' closer
Goin' faster than a rollercoaster
Love like yours will surely come my way
A-hey, a-hey-hey
Everyday seems a little longer
Every way love's a little stronger
Come what may
Do you ever long for true love from me
Everyday it's a-gettin' closer
Goin' faster than a rollercoaster
Love like yours will surely come my way
A-hey, a-hey-hey
Love like yours will surely come my way
Public, government-approved, "markets", much like the "dollar", are becoming less and less relevant.
It see lots of assets I can use to generate revenue going on sale...
fine by me...
The Fed's trading desk in NYC was hard at work today buying up stocks to prevent a major decline.
Since the Fed is unaudited we will never know what exactly they were buying with newly printed electronic money.
Yeah, that was not obvious manipulation by Wall Street computer programs.
At least in the old day, there was at least some semblance of a real market. Now, they don't make a real effort to pretend. They just stick a random tag on it at the end of the day.
Ummm ... Greece, cough, cough. Ummm Obama shit his pants, cough, cough.
Everyone likes V Curve,if you know what I mean..! ;)
Wow.....And just think there are some out there that still thinks its all legit.
Running for President at GoFundMe
Joseph Maloy
Stop the madness in Washington.
Good thing everything is fixed up in Greece, so we can get back to the DOW 20,000 liftoff.
PPT it to the moon Alice! Or should I say Jack.
It's all bullshit run by psychos! Masters of the system rape.
Don't worry, China will pull us along through this rough patch.
People don't play in the markets anymore - it's all algos. Now - if 10 people suddenly bought a thousand dollars worth of stock - the market would rocket UP about 100 pts. There's no volume in the markets - it's all electronic manipulation.
Of course, <insert favorite bankster or crony here> "No one could have seen this coming. We have hard, patriotic decisions ahead, but WE ( JustUs ) will get through this because we are the exceptional toilet and the greatest shithole on earth!"
I need the Jake suit
Seriously WTF. Why are we even surprised any more !?!
Seriously WTF. Why are we even surprised any more !?!
https://www.google.com/#q=Just+a+swingin
Stories about Quaaludes give the market a boner. It's true.
I would suck a puddin' pop for a bottle of quaaludes.
QE money bonds all down, print more.
Jack Ma was listing BTFD in Alibaba links. Backpage and Craigslist don't generate enough traffic.
Dare to short and >>> " to the left, to the left!"
https://www.youtube.com/watch?v=i_y7YEIphts
HOW TF DO YOU GET OFF THIS FUCKIN RIDE?!
First, young MacGyver, pull a quarter out of your pocket, make sure it is a silver one........................
Then grab a wheel barrow, go to your bank and withdraw how ever many transactions at $4999 at a time. Go to your local coin shop and hope to God they have inventory cuz your late to the party and the music is stopping. Find a seat and watch the panic.
You go Main Street!
That's one volatile f'n market.
Despite the sagging Apple watch financial revenues. Tim Cook has hatched a new idea.
Apple's Latest Innovation: Copying Spotify
Enjoy
There is no market here in the US anymore. What we have is total and complete bullshit.
Told you there would be no crash.
A crash would occur if there was a free market.
When it comes, the markets just will not open.
It makes me wonder if the charts are even right. Might still be down a couple hundred. They'll catch up next session...
Prepsite.org: A storm is coming http://www.prepsite.org/2015/07/a-storm-is-coming.html?spref=tw
Soon, the only entity owning stocks will be the Central Banks...who also will own all the bonds.
Lets hope that during the next American Revoltion, we permanetly bank Central Bankers. Im considering openning a new guillotine manufacuring plant...I see lots of profit in that in the next 3-5 years
Keep the door open a littttle looooonger......
I'm out.
Soon, the only entity owning all the stocks and bonds will be the Central Banks.
At which point the entire economy will be worthless.
An outcome these closet communists didn't plan for...
Think about it... the reason you and I wouldn't own
these instruments is because the underlying businesses are
literally from another era... and pretty much worthless
in the information economy.
Wouldn't you expect to see a slightly higher volume then? Today's volume was as anemic as vegan's blood.
Somebody is making a shitload of money and it isn't John Q Public.
Hi boys and girls. Today's word is 'volatility'. Can you say 'volatility'?
The game is afoot...
Brought to you by the letters "V", "I", "X"
Control Fraud. Should be illegal. Probably is.
No need to worry; the little retail investors are getting squashed while the HFT are "Winning!"
All those altruistic big caps must have seen a BTFD moment to sop up some more of their stock at bargin basement prices. Save a few percent off of all time highs. Saves a few dollars for the next buying frenzy. Noticed the Russell didn't bounce quite as much as these more civic minded companies.
All hail stawks!
Ha, ha. Just imagine the PINKO FASCIST COMMIES who will be executed in public for this shitshow of fraud and corruption called the U.S. financial markets...The day is drawing closer...
It really is nothing but BS and madness.
Hope? More like Ben came out of retirement. This bs is under complete computer control. In fact, they probably let it sink that far on purpose just to smoke the greece shorts.
Stock market is counting on Janet Yellen to use the Greek crisis as a excuse to delay rate hikes.
Stock market is counting on Janet Yellen to use the Greek crisis as a excuse to delay rate hikes.
Look! Confederate flag!
Look over there! Gay Marraige.
Look! Donald Trump is a racis.
Look! In 2005 Bill Cosby was already accused of giving ludes to women.
NOBODY MENTION GREECE.
The press seems desperte to hide this.
The trouble is that with my old cofarts, they dove head first into the Confederate "it's history!" red herring.
You would not know that a bunch of white lemmingness tools would suck on Jerry Springers' toes so hard, then cite a bunch of quotes by nice black people to save face.
They make stances because they think they're on the winning side, not because they actually understand what's going on.
One day it's Confederates, the next it's Mooslims...
WTF? JBTFD fer sure. Just exactly WHO IS buying this shit?
Keep the door open a littttle looooonger......
I'm out.