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Stocks Melt-Up On Oil Bounce As JPY Carry Breaks
In case you were wondering WTF... it's oil, as the algos pin to WTI after JPY failed to follow through on overnight intervention...
Dumping bonds didn't work... so they ramped JPY and when that failed switched to oil...
Of course the ramp is volumeless...
It appears bonds and stocks needed to recouple...
Because fun-durr-mentals. That's why.
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But no one in the free and fair financial press of the West will scream manipulation as they routinely do with China even though the PPT has been engaging the markets since January 1988.
Forward - to more lies. And more free money. Dimon needs his second billion. As does Blankfein.
Just your average, low-volume, out of nowhere, melt-up.
Zzzzzzz....
What else they got?
Actually the crude move up has legs. There was volume to support it. Day traders had an easy day with this move. We had to fill the 48.13 open gap. So this is what happens.
Still have open gaps at:
50.87
53.38
55.84
Dont be surprised if we see a move north to fill these gaps.
You're watching the wheels spin 'round. You forgot - demand is dropping as China makes up the largest share of demand now. It's so bad Russia nixed the "Holy Grail" oil pipeline it had with China. You forgot that Iran oil is coming on-line in the next couple months. You forgot that oil's drop in price shut wells down across America, wells that will never be reopened.
Good luck trading.
I sing the song too!!!!!
Soul Glow I am a day trader and do not hold anything very long. And when I say "very long" , my definition of "very long" is a few hours max. Most of the time 60 minutes or less.
So I do appreciate the insight and it is helpful if I was a position trader. But with my style I just play what is offered at the times I trade.
Good luck to you if you are trading.
Gaps don't always get filled. Also, when ridding coattails, never loosen your grip or you'll not make the next move.
I agree it is not always just something to watch. Thanks for the tip!!
They being the PPT? Low vol out of nowhere melt up is all they got. But it works because the average attention span of an American is 15 minutes.
President's Working Group on FInancial Markets official government executive order -
http://www.archives.gov/federal-register/codification/executive-order/12...
I was wondering about today's melt up, thanks ZH.
B...B...But But But... $47 handle??!???
When there is 10x's the buying (M&A, stock buyback, etc) than retail selling...not hard to guess why the market is going to rise from here so long as corporations can get money for nothing.
If and/or when Fed raises rates and ends the free money and stock buyback game...then and only then should you watch out for an equity collapse.
Saw that, but went long RUT via TNA anyway at 10 after the huge-wicked, big volume candles and RVX crash, soon to be followed by the other VIX's. Got out near opening highs, even though odds of another pivot up were strong, thinking overhead supply from yesterday might impact. A bit conservative, perhaps, given RUT's crazy rabiies-ramp history, but my spidey sense, not really confirmed by my charts, is that we could turn back suddenly mid-day and end just above Unch. Pre-FOMC trade of past years would suggest otherwise . . .
(Don't know about other traders, but JPY post-currency wars hasn't been reliable, nor has oil post-May. Volatility seems to be the best extra-chart guide, given all the hedging from nervous nellies, today likely a pre-FOMC unwind and/or profit-taking after a week-long move)
Hey there KCS, been a while. If you have the time or the inclination then i'd recommend you learn how to 'read the tape' , would have kept you long today thru' yesterdays highs and Globex high (buyers soaked up all the selling) thus leaving no room for opinions or 'I think'. Opinions and thoughts are a daytraders nemesis. Laters.
I know you're big on the overnight high (which often works), but don't confuse my "I think", which refers to a hunch on the overall day, versus my trading, which is based on a 15m/HRLY chart combo, with DMA inputs. The main reason I sold is my method, at 11:15, indicated a mixed picture, with about a 50% chance we'd retrace back a bit for a re-buy versus smashing forward, so booking a 1.5% account gain for a 60 min trade, and waiting to re-enter seemed prudent. Only in 50/50 cases does gut feel come into play, rather than flip a coin.
Interesting the style differences, mine is 100% cash, open to close trading only, and I believe the day's path is the interraction of 4-5 major 'methods', some 'horizontal' (pivot points) versus powerful weekly/daily chart traders, along with volatility envelope users, etc. So, I prefer to have 4 potential decisions per hour, (though I average only 8 trades a week) which allows me to assess who's likely to win the various battles, though does require stamina and concentration.
Good luck
Economic data comes out at 10am, markets rip at 10:30. Come on Kevin, this is some amateur shit. At least make it look convincing.
Possibly the fed leaked that the Sept. rate hike is as likely as the June one. Oh well, on to guessing about the November rate hike. :)
So long as Governments can continue to buy financial assets with tax receipts from the future, everything is going to be okay -
Unlimited margin on the Treasury trading desk,must be nice...until one day...nothing works...
Simple.Bring in a law where you have to hold it for two hours.BRING RISK BACK.NO MORE FINES,PRISON ONLY (TWENTY YEARS).
WHY NO BANKERS LEAPING LATELY? DID EVERYONE GET THE MEMO?
Recoupling? Are you testing your reader community for brain-dead?
Bond yields going down means BOND PRICES ARE GOING UP!
A useful chart would show how bond prices are going up relative to SPX.
Including 10 year and 2 year w/b nice too.
If anybody was able to make a good investment decision by comparing rutabagas and oranges, I'd like to hear about it.
Thanx for listening.