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Bonds Bid, Stocks Skid, & Crude Crushed As Yellen Pleads & Greece Bleeds
China loses momentum in its manipulation overnight... US industrial production data was dismal... Yellen admits The Fed needs to raise rates sooner or may be forced to raise rates more aggressively... and stocks did not drop until TV images showed blood on the streets of Athens... This just seemed appropriate...
"hearts on fire" indeed - can the small undersize reality of the real market overcome the juicing monstrosity of the Central Banks? Stay tuned...
Stocks flatlined on negligible volume overnight in futures (just like yesterday), were jerked up at the open then tumbled when Greek burning images started to appear..
On the day, Trannies and Small Caps were the laggards early on...
Since the Friday close, Trannies and Small Caps are the biggest losers with NASDAQ suppoprted by biotech
On a side note they tried hard to close S&P green - to make it 5 days in a row higher - the first time since Dec 2014 - BUT FAILED
Stocks and bonds continue in a world of their own... who is right?
As chaos reigned in Greece, the Greek ETF decided it was time to rally and the initial dip on images of teargas and molotov coktails was bought - but the picture is still ugly...
VIX surged on the Greek TV Images... then smashed to try and get S&P green
Treasury yields are now notably lower on the week...
The dollar surged thanks to CAD weakness (surprise rate cut) and EUR weakness (more Greece concerns)
CAD collapsed to near 6 year lows after BoC surprised...
As EURUSD continues to nosedive post-deal
Silver and Gold were clubbed early on as EURUSD plunged...
Leaving GLD at 5 year lows....
Inventories saw a big draw and production dropped BUT after an initial pop, crudeprices collapse - giving back all the "buy the news" Iran Deal gains from yesterday...
Charts: Bloomberg
Bonus Chart: h/t @Not_Jim_Cramer points out that buybacks are now underperforming the market (as he notes "when everyone is doing it...."
Bonus Clip: Absolutely NSFW - Seems appropriate for practically everything going on right now...
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What the fuck happened at the close - someone's results out?
DavidC
If it bleeds, it has debts...financiers and bankster motto.
Don't forget to buy the Greece is broken and then fixed and then broken then fixed then broken before it's fixed again dp.
BTFD
"This is not the correction you are looking for. Move along."
"This is not the correction we are looking for! You can move along! Move along please!"
So a little perspective on the Loonie (Canadian Dollar)...that thing was fixed at a buck twenty from 1983 to 2003 give or take (big move higher in the dollar in the late 90's being an exception.)
In other words that is a VERY weak Canadian Dollar right now.
Don't be long Mexican Peso if the Canadian Dollar collapse. We really will need a wall between Mexico and the USA if that happens.
So a little perspective on the Loonie (Canadian Dollar)...that thing was fixed at a buck twenty from 1983 to 2003 give or take (big move higher in the dollar in the late 90's being an exception.)
In other words that is a VERY weak Canadian Dollar right now.
Don't be long Mexican Peso if the Canadian Dollar collapse. We really will need a wall between Mexico and the USA if that happens.
Well, something will happen, somewhere and it will be 'unexpected'. Reality sucks, so lets go to the casino!
S&P futures aren't closed yet still time for them to end up green. Wake me up when they're trading in the 1800's.
See my post above - something happened at the close, up like a rocket.
DavidC
NFLX MISSED ON REVENUE AND BARELY BEAT ON BOTTOM, YET THE STAWK IS UP 10 PERCENT AFTER HOURS. SAME WITH INTC.
THIS ''MARKET'' IS A COMPLETE FUCKING FARCE
Must be why Microsoft is up 1.5% after hours.
Vix smash job, why not
Technical outages, the fall of Spain, the rise of the German Empire, medical advances: seems like we're already trading like it's the 1800s
Bullish
GDX, I must break you.
I guess my Gold will buy some prime Canadien Real Estate since its basically worthless here in USSA.
PLAID SWAN !
Zebra swan diving and spinning generating colors.
S & P rockets after 4 cash close. Greeks musta voted YES. Heh. What a totally effed up market. This 3 rd bail out is another effing joke and MOAR debt DOES not solve the poroblem. I hate this effing market.
New Greek burger joint...SmashGyro...can this get crowdfunded at the next riot ? Weaponized Gyro can be used as a kinetic weapon and comes with teargas mask.