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Commodities Plunging To 2002 Level Sends "Investors" Rushing To Safety Of Overpriced Tech Megacaps
Overheard at The NY Fed today...
Volume continues to leak lower and breadth gets worserer but The Nasdaq can't help itself and The S&P so desperately wanted new record highs... Bullard broke the rally early but all that did was inspire JPY-driven carry to mount an attack on new highs in stocks..
Notable divergence once again today as Small Caps and Trannies were major underperformers...
Notably, from last Thursday's gap open, the divergence is very dramatic as the 4 horsemen of tech have gone exponential...
And off the lows pre-Greek deal...
As The Big 4 surge (but rolled over a little in last 30 minutes)
VIX was not playing along...
Nor is HY Credit...
Nor is breadth...
Finally - consider Nasdaq +10.5% YTD, Trannies -9.5% YTD
52-Week Lows soared again today despite some of the indices surging...
Treassury yields were volatile until Europe closed then died...
The USDollar managed a very small gain with Swissy weakness offset by SEK strength...
By the close Silver and copper were 1% lower, crude slipped further, and gold dropped 2.6%...
Gold monkey hammered overnight but scrambled some of the flush back - closes at 5 year lows...
Crude clubbed back below $50... driven almost perfectly by USD strength
Finally a reminder from earlier... Commodities are at 13 year lows!!!!!!
Charts: Bloomberg
Bonus Chart: What happens historically aftere Friday's 1%+ gain with terrible breadth?
Nasdaq 100 performance after worst breadth on a day it gains >+1%. $NDX pic.twitter.com/4KokfHIrjW
— Jason Goepfert (@sentimentrader) July 17, 2015
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I swear to god I don't know why anyone finds this unusual. The entire economy is one big maniuplation of data. If it's not real, we sure as hell don't need real things (like commodities and energy) for it, now do we? It's all just a bunch of (phony) digits and data.
Wait you mean to tell me that we don't really have 5% unemployment? And that inflation isn't 0.2% y/o/y? I thought the WSJ was reputable....!
Its because the 99.998% are oblivious to this...
.
That our life is one giant cosmic lie.
Wait . . . .
you misspelled "LEMMINGS"
People I know are scared shitless about the possibility of losing their job even though most of them are very experienced engineers. Mortgages, kids in private schools, etc ... Middle Class people are being totally destroyed by the Fed+Barry's policies.
Every week it seems it gets Bleaker for the MC.
and on top of that we're soon going to have a lot more Iranian techs coming here on relaxed H1B restrcitions.
I thought they'd be Cubanos.
Iranians...........thought fart.
Sounds like a good plan.
(snikker)
How are those ADD (accidental death and dismemberment) insurance policies selling, there, mutual insurance guys?
Wall Street is a con by the rich designed to transform the middle class into the poverty class.
"Hey guys! Be sure to ramp the markets to validate what I just said...or you're FIRED!"
WTF?! What the hell do all those squiggly lines mean?!?!!!
Deflation
"It's nice to have nice things, Georgey"
Time for another victory lap from Ritholz.
http://finance.yahoo.com/news/american-families-spent-16--more-on-colleg...
Duplicate
Sell All The Things?
Buy All The Paper!
Do may stacks of liqour and tinned herring count as commodities?
The Safety of a megacap? LOL
question 1. Do you hold a certificate in your name to your stock, preferably issued by the company? Nope?
Question 2 Does your broker who claims to hold in Street Name Have legal claim to it or hold the certifacate? NOPE
Cede and CO owns it all in their name and thanks you for the donation.
And remember that certain little basement depository in New York that was flooded in the hurricane that held all the documents, bonds, claims?
And then after they got it pumped out all that soggy paper somehow just majically exploded and burst into flames?
There is no records left of any legitimate claim of any piece of paper left in this country.
Good luck with your claim when they pull the plug.
Its the biggest fraud of in the history of the earth and they can and will steal it all if they want or have to.
But, but, but E-trade says I own 500 shares of Netflix!!!!
They wouldn't lie would they? E-trade has a paper record of the shares that have been traded 10 million times in the last few hours right?
If I ask for stock certificates they will be able to send them to me in the mail. After all I OWN the shares. They are mine.
Ahhhh haa ha ha haaa
Little people really think they own shares of mega multinational corporations.
Cramer today i bought some Facefuck, scamazon, Linked INN!, and Price-line, AM I DIVERSIFIED?
Man, you gonna be able to retire in like two months brotha.
WAY TO GO!!!! That's tha way ya DO IT!!!!
"BUY! BUY! BUY!"
(Cramer sat on the "Buy" button by mistake.)
Daesh-bags in Gaza: Bombings target Hamas in ‘professional’ attacks amid ‘fake’ ISIS-linked war
Some guy gets pwned by Jim Rickards. http://www.bloomberg.com/news/videos/2015-07-20/is-the-u-s-dollar-moving...
what a bunch of clowns on Bloomberg trying to mock Rickards as a goldbug... they look and sound like absolute idiots and completely beneath his level. i don't know why he even bothers to talk to people like this. same as that snarky bitch Scott Nations on CNBC mocking Schiff http://www.cnbc.com/2015/07/16/trader-slams-schiff-you-make-outlandish-p... the detractors sound so desperate.
So all the tangible "real" things are all worth shit and on the down. All the imaginary things are at record highs? I don't get it.
’The question is,’ said Alice, ‘whether you can make words mean so many different things.’
’The question is,’ said Humpty Dumpty, ‘which is to be master — that’s all.”
It's the new normal, where everything virtual and online is priceless, and everything real is worthless.
It's the other way around. Wildly inflating US credit is causing speculators i.e. the entire realm of global finance, to sell commodities & chase the rising prices of US credit.
Schiff is right that the bust will be bigger than ever.
WTF happened to Sell in May?
Im buying Gooble, Apple and Facebook. Welcome to the future of lazy retardation.