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Recessionary Retail Sales & Broken Markets Spark Volumeless Buying In Stocks, Bonds, & Crude
Recessionary retail sales bad news is good news, broken markets rigging VIX, and Tsipras lying to his people about the Greek deal...
Volume was practically non-existent...(less than 50% of average in e-minis)
And futures show that overnight trading was in a tiny range - until retail sales hit and bad news was good news...
As Nasdaq led stocks higher and higherer - because that's what stocks do...
Post Greferendum announcement, all but Small Caps are now higher...
US equities are rallying because Greece is fixed...
This continues...
VIX was hammered back to a 12 handle (and just as risk started to build markets broke to ensure the plunger continued)...as VIX plunged away from backwardation once again (VIX > 3-month VIX)...
Twitter was manipulated (we await SEC comment in 2 years)
Treasury yields tumbled lower all day starting at the retail sales print and are now unchanged on the week...
The Dollar leaked lower (despite some vol around the retail sales data) with cable strength the biggest drag...
Commodities drifted lower - except for crude...
Crude surged on a "buy the news" of the Iran deal...having tumbled all night... (though we suspect this is algos filling the gap again to Friday's close)...
* * *
So to summarise: The US equity markets are up 3-4% on hopes of a Greek Deal.. Greek stocks are collapsing on the reality of the deal... Treaasury bond yields are unchanged on the news... and Retail Sales data is practically as bad as it has been since the recession... pass the ouzo!
Charts: Bloomberg
Bonus Chart: Mission Accomplished Mr.Draghi
EU Vol back below long-term average pic.twitter.com/vKWyE7nI6j
— Not Jim Cramer (@Not_Jim_Cramer) July 14, 2015
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I just saw a unicorn.
Was she projectile vomiting Skittles?
just buy the fucking dip
I like dips with volume. And I never double-dip, that's just immoral.
Just BTFD like any PINKO FASCIST COMMIE Conformist POS would! Support the system that is destroying humanity! Just be ready to defend yourself when it is finally realized by Joe Six-Pack that you aided and abetted those who destroyed the world. Good luck to you who BTFD! You're gonna need it!
I can unfortunately see how "Grrece Never to be Fixed" is bullish actually.
Sure seems minor and "Over There" but then again so is Iran.
"Elections have consequences"...
Move along
Move along
Greece is minor and Iran is not because DC is populated with whores for Israel.
Everything I own is depreciating: gold, silver, mining stocks, car, college degree, American citizenship status...
Prostate size?
Europe called the bluff. Now the Greeks are sore
Nothing fixed, shitty volume, RUT working on a head and shoulders IMHO. Just a bit of dead cat bouncing after rolling over only to wake up with no fresh buyers for the same tired old worn out garbage. Over extended everything, earnings suck, all the catalysts for a higher market are missing. IWM, SPY, DIA all nearly at the RSI 70 on 4 hr charts. Maybe a little bit left to the upside but smells like lower from here in the next day or so...big moves early in the week tend to be faded these days as well going into weekly opex. My guess is they pin Fridays close to 124.50'ish on IWM
NY Fed : Rejection rate of 3% for new auto loans is the lowest in recorded history ... < the last 2 years.>
http://www.bloomberg.com/news/articles/2015-07-14/it-s-gotten-pretty-darn-easy-to-get-a-car-loan
Hmmmm..... I wonder how that is going to turn out? Too bad we haven't seen something like this before where easy credit was extended to sub prime borrowers and then collateralized and sold off to pension funds.
I am sure it will be fine, these people are experts and know exactly what they are doing.
Volume would increase if the market said the upside was guaranteed.
Yellen should just say it.
And if she did it would not be a market Shit-for-Brains...
"Twitter was manipulated (we await SEC comment in 2 years)"
shit be funnyy...lmao
Sounds like a joke , but it's not.
Lag times are in years
as Aesop said
I was watching SPY all day and watched it ramp up and plateau. Then ramp up and plateau. Over and over and over again. After the lousy Retail Sales should have known. But as I watched it approach its 50 DMA having been below its 200 a few short days ago, I say to myself "Who the eff is buying this shit. At these prices!!"
Comparing today's market with history, we are looking at the Weimar republic were a certain minority had all the money and the populace very little. We are seeing the same thing happen in the last seven years of our market. With over 18 trillion 200 billion of national debt how do we sustain growth. We don't and this is why rallies should be sold. If we had faced the debt situation instead of ignoring it the outlook would be diifferent. This next downturn will be significant because the causes were ignored and turned into a programed market. You could see a repeat of the 2008 lows because the liberals decided to make a bull market out of fluff. We won't end like the Weimar republic as the minority was persecuted. But those responsible for this traversty of a market should have their assets confiscated.