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Dramamine Required: Stocks End Week Unchanged Despite Nausea-Inducing Wild Ride
Despite the rampacious surge in stocks, some context on the week... Nasdaq & S&P 500 End Red, Small Caps and Trannies squeezed to death...
Seems to be summed up thus...
Perhaps the week in futures shows the violence of the swings more impressively...
A Double Squeeze...
From last night's cash close, stocks never looked back as they saw the Tsipras proposal as a done-deal...
Cash gapped open at the open... (Note, before it slipped, this was the biggest day for the Nasdaq since January!!), and never went anywhere from the initial squeeze..
Before we move on - it is worth noting that The S&P 500 is still below 2,100, The Dow is still below 18,000, and The Nasdaq is still below 5,000.
Quite a week in China A-Shares ETF...
VIX was crushed today...
There was only one thing keeping the dream alive in stocks... The BoJ!!
Some context across assets - Since "OXI!" Vote...
And Since "Greferendum" announcement...
Treasuries were smacked with an ugly stick in the last 2 days, dragging yields positive for the week...
This is the worst 2 day rip in yields since the Taper Tantrum over 2 years ago...
The USDollar dropped early on EUR strength then rallied as US opened...
But the real story of the day was JPY (and in particular EURJPY) - the biggest jump in EURJPY since April 2013 - even more than the day QE3 died and QQE2 was unleashed...
Commodities were mixed today, crude fell on further rig count increases, copper slipped and PMs were flat...
This is WTI's worst 2 week run since Dec 2014...
Gold has been peculiarly quiet the last 2 days...Since China took control - someone wanted gold under control...
Charts: Bloomberg
Bonus Chart: "Yes, we are all different!"
@RudyHavenstein maybe you can think of a punchline for this pic? .... pic.twitter.com/zTa0CVz9I9
— London Analyst (@LondonAnalyst) July 9, 2015
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What is there something wrong with giving out moar
Post-Modern Portfolio Theory: The higher the volatility the more zeroish the return, Bitchez
(sounds kinda masturbatory, doesn't it?)
Why would they STOP RIGGING NOW
when they can KEEP ON RIGGING?
Can you put that to music, please? I think it would make a great song. "Keep on rigging, and sock it to me... keep on rigging, and stick it to me..., etc.
They used to hang people from the rigging,soon to be for the rigging.
really interesting how the Dow jerked up over 200 on the open and then traded sideways all fucking day long on Greece rumors today....
yeah, never seen that before....
FUCK OFF.
of course, no volatility whatsoever. it was like there mission was to get it to a certain level, and then trade sideways rest of day,
NOTRIGGED!!
another blissful weekend for ma & pa "investors" ...
"stocks shrugged off China and Greece worries, blah blah" lather rinse repeat for next 60 hours
I need a break after this week, what a shitshow!!!!
Not sure about a break, cuz first we'll get weekend Greek news, then Yellen's Congress testimony on Wed and Thurs. Another seesaw likely.
Oompah Loompa Doompa dee do
Next week another ass rape for you
Haha! Thanks for the laugh :)
Wish everyday was like Wednesday.
Caption: Where are the young people?
I'll betcha that if I had been watching CNBS all week I'd be very sad right now that I don't own any stocks.
(scratching armpit through hole in ratty Harley Davidson tee)
Stop shorting this rigged market.
You'll just keep loosing money.
BTW, the money will be replaced and discounted B4 the DOW crashes.
Young fools.
“Venus” by Frankie Avalon
To be sung by your favorite algo:
Hey, Venus, oh Venus
Venus, if you will
Please send a few new shorts for me to kill
Folks who buy the VIX and fight the ARMS
That I can harm and abuse
Venus, make them bears
Retail traders with no margin to spare
Then take the sharpest sticks that you can find
And stick ‘em in their eyes for me
Venus, goddess of doves that you are
Making my Bids top their Ask
Can't be too great a task
Venus, if you do
I promise that they’ll always be screwed
I’ll give stocks the biggest shove I have to give
Assuming any bears still live
Venus, goddess of doves that you are
All the huge bids that I’ll mask
Will allow me to take shorts to task
Hey, Venus, oh Venus
Make my wish come true
What wild ride?
MSM talking points for next week:
1. Greece solved and if not solved it is so small there won't be any problems.
2. China has everything under control.
3. FED should not hike rates because Greece and China are problems.
They just spread out each talking point using 10 minute segments so the sheeple don't pick up on the contradictory points.
LOL! it's like I watched a whole week of CNBS in 5 seconds! excellent work!
and next week too, same shit
Cant wait for my haircut tomorrow, my barber says he has a hot stock tip.
It's all Bullshit!!!
gotta love all these fucktard analysts.
the ''market'' goes up 150 plus percent over the past 6 years on absolutely no growth, terrible economy, etc, and they say we are still undervalued.
However, when the ''market'' sells off like 2 percent, we r fucking oversold.
today was an absolute shit show. nothing warranted a fucking 230 plus dow day, but i guess when the fed has a job to do, they must do it.
on monday assuming the greek bullshit bailout passes, im sure we will see another fucking rally, bc we will be told how it wasnt priced in, and all the sudden greece matters.
if it does not pass, i am sure we will trade flat monday and here how greece is irrelevant.
Every market is rigged by the central banks.
Trading has become more like sitting in a chair in vegas pulling the slot machine lever.
Down move doesn't look over yet.
Unless Janet says it is.
I suspect she may "let" it drift lower now planning to boost back towards the end of August, trying to get things set for the September rate blip.
So much for the collapse.
Im just going to keep posting this video until Tyler uses it.
https://youtu.be/KezvwARhBIc
Television is truly a miracle of the modern age. If the TV says so, it must be so.
this is why watching daily action is a waste of time