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US Equities Soar On Greek "Deal"; Greek Stocks, Euro Plunge
Looking at stocks (which is now how we are supposed to judge everything ever), there is only one clip for today...
And in honor of what Tsipras did...
* * *
But it appears FX and bond markets disagreed with stock's exuberance...
And it appears Greek stocks also disagree over the awesomeness of everything...
Today completes the biggest 3-day rally in stocks since December 2014... so it seems Greece matters after all. Note that the S&P 500 tested perfectly up to its 50DMA at 2100 (and above its 100DMA at 2095) and Volume is tumbling
Volume was terrible...
Which was driven by the biggest short squeeze in 5 months...
US Equities filled the gap back to Tsipras' "Greferendum" announcement but could not get any fruther...
As did VIX (collapsing to a 13 handle)...
Cash equity markets went absolutely nowwhere from the ramp open... until the last hour...
Treasury yields ended the higher but rallied notably off the kneejerk dump after a Greek deal was announced...
The US Dollar surged today...
On the heels of a 200 pip collapse in EURUSD from its highs of the day... (breaking to a 1.09 handle)
The dollar strength weighed on precious metals, copper held on to modest gains and crude whipped around on Iran headlines.
Charts: Bloomberg
Bonus Chart: This seemed to sum Europe up perfectly...
Germany to Greece: here's a gun, go shoot yourself. Germany to rest of Europe: anyone else want a gun?
— Northy (@NorthmanTrader) July 12, 2015
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wow the Dow shot up over 200 points on the open in NY today and traded sideways til the close on another yet to be confirmed some kinda agreement on Greece taking on more debt to increase the suffering of its citizenry....
how strange..........
A currency can collapse quite suddenly.
There is no dollar paper available right now...so the default appears to be to coinage.
The Treasury Secreatry might be forced to "redenominate" to actual money (copper pennies, nickel nickels, silver dimes) in order to "pay for Tennessee."
Why?
Because thee are ZERO dollars in the USA too.
50,000 bucks for a Ford Explorer seems pretty high to me...
know a guy who dropped 80k on a tricked out 2015 Dodge Ram 2500.....lol
So worth it. He'll never have to pay for that awesome truck, and after the collapse it will be worth a few hundred bags of potatos at least! He might even be able to trade it in for a bitcoin or two!
Yes, it seems lately on gap up days algos all sing from the same hymnal in the middle of the night, go up slightly after 10 as the rest of the choir joins in, then they hold a high "C" till the last 15-min candle.
Yup, the DAX up 0.7% on my charts
The US up well over 1%.
Go figure.
DavidC
Do not think for ONE moment that the drama in Europe is not being watched very closely here in the United Fascist States of America.
Everything is a template. Even BEFORE TPP, which will be enacted starting next year, we have been harmonizing our laws with Europe's. Why? Business silly. With everyone on more or less the same page business is conducted more swiftly and with less hassles over things such as wage laws, and the courts, etc. etc.
Now with TPP coming and eventually the true cashless banking system.....(made easier with everyone's iPhone, Android, smartwatch, etc.....much less you ATM and credit cards)....the Iron Curtain of Crony Capitalist Fascism is rapidly descending the world over.
Russian, China and the Middle East are the sole big players out.....for now. And if not.....then look for a heating up of the proxy war we have had with those entities since the end of WW 2.
And you silly folks though the Cold War was over. HAHAHAHAHA !!!!
The Greek parliament still hasn't passed it......
So?
they will....
Bullshit.
That's political suicide.
Greece is not broke.
if they do pass it they definitely bent over and took it. voted no to bad deal, vote yes to worse deal, now they vote yes to a worser deal?
That's my take. Water cannons and riot gear for breakfast. What part of "No" did they not understand?
Is it Junta time?
I also farted today, don't forget that!
Pull my finger
It is magical how the S&P500 always manages to get back to roughly 2100 and the Dow to 18,000 no matter what. Good thing we know it's not rigged.
i think they are gona push this thing up until all the suckers have been sucked in and lost everything, never seen so much greed in my life, how much do these sociopaths want? the whole planet
They already own pretty much the planet already in financial terms (look what they did in china and greece). What they are really after is your soul and they WILL get it unless people wake the fuck up.
Pensions and savings first. Then souls.
“Positively Wall Street” by Bob Dylan
You got a lotta nerve to say it’s a downtrend
When the Dow gapped up you just stood there grinning
You got a lotta nerve to say you got more margin funds to lend
You just want to stay on the side that’s winning
You say Greece takes us down, you know it’s not like that
If you’re so sure, why then don’t you short it?
You say you lost in May, but that’s not where it’s at
It’s the only day you’ll lose, and you know it
I know the reason that you buy behind my back
I used to cross with dark pools that you’re in with
Do you take me for such a fool to think I’d short contracts
from the ones who try to hide how long they are to begin with?
You see me on Wall Street, you always have advice
You say, “Sell lows, dump the truck” but you don’t follow
When you know as well as me you want to see me pulverized
Why don’t you just come out once and scream it?
No, I do not feel that good when I see the flash boys you embrace
If I was a master thief, perhaps I’d join them
And now I know you’re dissatisfied with positions the Fed had you take
Don’t you understand that’s not my problem?
I wish that for just one time you could shake inside my shoes
And just for that one expiration I could be you
Yes, I wish that for just one time you were stranded, short my Spoos
You know all the tricks I’d use to crush you
VIX 13 is like cowbell for central planners
I prefer the VIX vs FULL MOONS charts
MOre like: "My Tsipris, there is a loaded .45 in your office, we (Germany) know you'll do the right thing".
Loaded nailgun
or maybe most of this had little to do with Greece....
Cheer up doom & gloomers it's only Monday, plenty moar GrExit to be had this week
I know, I can't stop following this Greece story now and I hate myself for it.
This better end satisfyingly, or I might have to get my gun..
Everyday is a holiday in the empire.
the only thing that kept me a bit sane today was knowing that we would get the EVERYTHING IS AWESOME video in todays summary.
IM sure tonight we will here rumblings how the deal can fall through so the s&p may lose 5 pts, but when its confirmed the deal will go through, the s&p will surge another 30 pts.
fuck greece, bunch of fucking pussies, stand up to these bastard bankers once and for all.
My healthy, ZH-nurtured cynicism tells me that they are runnning this bitch as high as they can so that when it falls, it falls less muchly.
Can anyone at the Fed honestly beleive that no correction for 4+ years is the right answer? Really?
This is all about keeping people as comfortable as possible.
Just look at U-6 unemployment BIS numbers. Each day Dow goes up, money is printed to entice sucker betting to continue.
two words-safe haven......EU$$$$$ gonnna floooow in
Greece will colapse within a few months , I am negative on Euro both short and long term, despite problems China looks good to me
'there can be ony 1, mcleod'
US stocks today the Biggest pile of horseshit I ever saw