This page has been archived and commenting is disabled.
Another Day, Another V-Shaped Manic-Melt-Up Recovery In Stocks (To Unchanged)
After 3 days of magical buying on no volume after heavy volume dumps, this seemed appropriate... "if you don't buy the dip, then you are a f##king idiot"
First things first... Fed Funds Futures prices tumbled (implying a big shift higher in rates expectations)...
Chinese stocks plunged overnight as no late-day rescue arrived...
But more importantly in the US, another day, another opening dip, and another melt-up V-Shaped Recovery...
Stocks and bonds decoupled again today...once again triggered as Europe closed...
Credit markets notably decoupled also...
But despite the best efforts of JPY and VIX, stocks were mixed by the close...
With cash indices ending with Trannies & Dow red, S&P unch, and Nasdaq the winner (even with AAPL lower)
On the week, Trannies remain the biggest gainer and Small Caps the least...
Faceplant...machines did their best to anchor FB around VWAP all day...
It's all about the MOMO...
h/t JC O'Hara at FBN Securities
Away from stocks, Bonds rallied notably with yields tumbling into the red for the week... (notice the considerable flattening post-GDP)
The US Dollar surged higher - enabling JPY carry to save the day in stocks and driving EUR back down to a 1.08 handle (following The IMF's "non" to Greece)
Dollar strength took the shine off commodities with crude and copper fading...
As Gold was clubbed overnight once again...and ramped when The IMF said "Non" to Greece...
And Crude lost some of yesterday's squeeze higher...
Charts: Bloomberg
»
- 17722 reads
- Printer-friendly version
- Send to friend
- advertisements -
The cracks are mounting up though. I have counted squiggles on this run from October till i am half blind. I think it's about done, but been wrong before.....
Blue Moon Friday should be fun for you .
I believe the indexes are being supported by something like six stocks (recent ZH article).
We will live to see the day when every stock is down but the index is up. Mock me at your peril.
My dad and I got into a very heated argument about this very point.
I tried to explain that it does not mean a damn thing if "the market" is up when every individual stock is a flaming wreck, or certain sectors are no longer in favor.
I suggested he look at coal mining, and Canadian oil patch stock, and click on the maximum view, for a few laughs.
(Hint, going from $70.00 to $0.19 kind of stings, unless one is short)
Yup, on my equity watchlist there is a hodgepodge of things, mostly well known stuff I have my market minder up top with futures, forex, tick, indexes, ect and today was one of those days where basically all the stocks were down but still most of the futures and indexes were up.
HUI is crashing, I think gold and gold miners are all going to zero.
It's almost like...... like there's a pattern or something.
exactly...
yeah, im sure everbody was crawling all over each other today like me to buy Catapillar despite the mining industry and their earnings collapsing....
yeah - right.
Eat SHit !! --- 6 trillion flies can't be wrong
A shit sandwich with extra shit on the side. Clean and open markets are a sight to behold, too bad we won't ever see any.....
https://www.youtube.com/watch?v=tWqKiqTfXuA
#oil testing LOD
Between USDJPY and CL, a "market" decline wasn't in the cards. Hilarious charts yesterday where they both shot up in the minutes before the non-statement -- just to be on the safe side.
http://pebblewriter.com/fed-still-in-protection-mode/
All the fraud and all the shenanigans. Gold must prevail or we will all fall.
If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you,
But make allowance for their doubting too:
If you can wait and not be tired by waiting,
Or, being lied about, don't deal in lies,
Or being hated don't give way to hating,
And yet don't look too good, nor talk too wise;
If you can dream---and not make dreams your master;
If you can think---and not make thoughts your aim,
If you can meet with Triumph and Disaster
And treat those two impostors just the same:.
If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build'em up with worn-out tools;
If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings,
And never breathe a word about your loss:
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: "Hold on!"
If you can talk with crowds and keep your virtue,
R KiplingOr walk with Kings---nor lose the common touch,
If neither foes nor loving friends can hurt you,
If all men count with you, but none too much:
If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And---which is more---you'll be a Man, my son!
Only coordinated, computerized trading could keep the markets as flat as they were today.
The POMO desk is using how many dollars per day to keep equities propped up?
PPT por vida.
PPT for life.
The fake-ass 'market' trudges onward, keeping the important folks' accounts fat and happy.
100 million people are wondering where next month's rent is going to come from, but this protected class has no fear. Is this a great country to be well-off in, or what?
Well - if you had not been led astray by the overnights or the pathetic GDP and you HAD Just BTFD this morning, you COULD have made a lot of money today.
How many of you get head faked, buy Puts and watch their value vanish by close? Uh-huh...
Yeah - I know. Based on historical average P/E, S & P should be 1,825. It IS different this time.
If you have any money left, Just BUY the Fucking Dip.
No fuking selling... Any questions?