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ClusterF'ed: Bonds & Bullion Pumped While Stocks & Dollar Dumped
Seemed appropriate...
Let's start with a quick intraday across the major asset classes...
Surprise! Volume's back...
Quite a day for stocks... Something changed today!! No follow through on a post Fed pump...
Stocks on the week have been wild...
With all major cash indices red on the week...
Energy stocks atrting to catch down to reality...
VIX crashed to unchanged on the FOMC minutes only to rip back higher to 15...
Who could have seen this coming?
This is starting to worry us... Financials CDS is really starting to decouple...
The Treasury Complex was a mess - an inflation spike in yields after the CPI print, followed by a rally as stock dumped.. then a spike in yields on the leaked minutes followed by an aggressive bid...
The US Dollar held gains after the CPI print (after its flash crash) but started to wilt into the European close. The leaked minutes saw an itial pop then a big dump in the dollar (note the strength all day in Swissy)...
Commodities were very mixed. Silver screamed higher on the day and gold pushed on to new 1-month highs as Crude and Copper were crushed...
The October WTI contract was glued at the $40/$41 barrier intop the close after collapsing 4.7% on the day - its biggest drop in 7 weeks and lowest since March 2009 (when the Fed initiated QE1)
And Copper broke its 15-year trendline...
We leave you with the following from a St. Louis Fed vice President:
"A Taylor-rule central banker may be convinced that lowering the central bank's nominal interest rate target will increase inflation. This can lead to a situation in which the central banker becomes permanently trapped in ZIRP."
On that note...
Charts: Bloomberg
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the yahoo charts looked like a shark fin trying to penetrate the surface
https://finance.yahoo.com/
Carnage and blood in the water. All the while the FEDs are still trying to inflate their life raft. da-da-da-dadadadada....
Tyler must be reading my comments. I made the Animal House "All is well" reference yesterday.
Where the deer at?
Dear Plunge Protection Team,
Please step in and do your thing. It's OK if you wait a week or so until you bring the price of gold back down as I won't be ready to make that big shiny purchase until next Friday anyhow. Oh, and please really smash silver down... I'd really like to back the truck up, if you know what I mean ;)
Thank you.
Sincerely,
Your Secret Admirer
Official government policy is that stocks will only go up. Bonds will only go down. The temperature of the earth will be carefully set and night will be banished as unproductive.
Wow, and I mean WOW. All the way back to last nights close and then dumps nearly 30 handles, how can you not love this shit!
TIME FOR YELLENS VICTORY LAP, quick before it falls apart!
http://www.cnbc.com/2015/08/19/janet-yellen-please-take-your-victory-lap...
and there's the payoff... silver ...but conspicuously not gold (cough jpm cough) dumped yesterday, just prior to a bearing Fed release.
We need an Investig- ahhh who am i kiddin.
This is the biggest FUBAR, WABOB Cluster Fuck of a market I've ever seen.
Good thing USSA won't crack down on corruption like the Chinese Commies .... or things could be much worse.
The 'chop' before the storm. (Storm is getting very close)
Brilliant-----Fed will point to tropical storm forming in Atlantic threatening to become hurricane as reason for no interest rate increase in Sept.. Obviously, seven years of QE and ZIRP are working, if it wasn;t for that damn storm.
What? That silly little thing? They forcast little development. Seems to me a monster storm hitting would give them a good alibi.
When gold and silver scream higher and stay there, we'll know the shitstorm is upon us.
Wonder what's going on at Dooshe Bank these days?
Yes, and the steady collapse in Dr. Copper and Energy.
Joe Labologna still showing his fugly pate on CNBC?
Agreed.
Off topic: next time you're over at SD, try and bring that Blo Pony guy back here with you. I'd love to see how that shit goes down in the big leagues.
40% dollar devaluation WRT gold coming in 3.....2......1
that's a ways off. That is the central banks last play in the playbook to get their desired inlation.
OK lets's give it a few days.
And that is just after the helicopter drop to all the "little people".
Yeah where's my helicopter drop? I want to help Japan and buy a new Toyota.
***As sung by Stanley Fischer and Janet Yellen
“I Taught You Babe” from "I Got You Babe" by Sonny & Cher
{Yellen} They say we're dumb and we don't know
We won't find out until we leave Zero
{Fischer} Well I suspect all that's true
'Cause you taught me, and baby I taught you
Babe, I taught you babe, I taught you babe
{Janet} They say that doves can’t pay the rent
‘Cause nothing’s earned, the money’s all been printed
{Stan} I guess so, but we don’t have any pot
So I’ll check to see what other drugs we’ve got
Babe, I taught you babe, I taught you babe
{Stan} I felt empowered back last spring
I got you to bear tapering
{Janet} And now I’m sad, market’s down
But if I get scared, QE’s always around
{Janet} Don't let them say “too low too long”
'Cause I don't care, with ZIRP I can't go wrong
{Stan} Then merge your dovish plan with mine
There ain’t no hill the S&P can’t climb
Babe, I taught you babe, I taught you babe
{Stan} I taught you to blunt demand {Janet} I let our balance sheet expand
{Stan} I got you to talk for me {Janet} I got all the hawks with me
{Stan} I taught you to diss the Right {Janet} I taught you to hold rates tight
{Stan} I got ZIRP, I won't let go {Janet} I taught you to love Zero
I taught you babe
A joy to read/sing and thank you. Riders on the storm last friday was one of your best yet if not the best.
Thanks, you must mean "Light My Fire", Yellen ones are always fun to write (hope you avoided that big post-FOMC spike today, but I'll bet that, like me, you don't trade much after 1:00 on FOMC days)
Goldman could do a cover version "I scammed you, babe"
Yes 'Light my Fire' apologies. I actually shorted it near the high and let a trailer run to VWAP, a great day.
a masterpiece
I bet the HFT server uprocessors are still red hot!
Baffle 'em with Bullshit, Lie, Confuse, Leak, Obfuscate, and Print Like a Mad Hatter all in full force!
the fed did their job. they butchered the shorts
Exactly. If the market has to crash, the FED will still punish the shorts all the way down.
free markets ain't free (or markets for that matter) bitchez
Free Mock-it.... get it? The mockery is free... well, kinda - free for them. We're paying them to be mocked.
Speaking of Mawthas Vineyud, have you seen the pics of Barry and Wild Bill Clinton playing golf? Holy crap, if looks could kill we would have President Biden being sworn in by now.
Soon we'll have to send our soldiers into another nation to defend our precious free markets.
Jack Yellen may need to dig up 'Ol Al Greaspan, let him stear for a while. His bullshit was better than his bullshit, plus he was prettier!
This some fucked shit going on now! Throw on some foul weather gear!
Goldman is processing the new line of bullshit.
Please hold on.....
Anybody been knifecatching oil ?
Funny you ask. I was thinking the same thing. I would like to buy one actual barrel of crude for my living room decor. I am guessing that buying a single barrel of crude is not easy to do. I would pay cash though.
That would be a great conversation starter.
Yeah but it stinks like crap
OK, maybe in my garage right next to my Harleys?
Just buy a barrel and put it underneath your Harleys.
No, my bikes are much newer and weren't made by AMF. I got the joke though. I see a lot of young men riding crotchrockets who think they are special. I can't beat them on a straightaway but I can ride corners. Full throttle is common. I should get a gopro camera and show you fuckers how I ride.(or die) Naw, it wouldn't work. There is no way to explain running a Harley over 100 mph chasing a LS Corvette and catching it on the curves. The Corvette had to go up to at least 160 mph or so on a five mile straight shot. Harleys are not built for that. I fell behind and I rode hard. That was impressive for that Corvette. Corvettes can't handle corners/curves like my motorcycles can though either. I ended up on his tail and he gave up but we waved to each other and smiled.
Nah get your wife to put a doyle on the drum then a nice potporutti display on it.
They are going to raise rates.... in 2025
I heard 2112.
Is it just me or did we just kick the doors off the market today? That was not the normal trading day. I made nomimal gains on everything for once in my life. Oh wait, I am not selling PMs so I made nothing. Oil tanks out though but what can you do? Capital flight into "safe havens" is all I saw.
Are the rats finally jumping off the sinking ship?
NO it's time for Yellens victory lap fool!
http://www.cnbc.com/2015/08/19/janet-yellen-please-take-your-victory-lap...
Link not working here. I might have some virus from reading about Ashley Birditzmanstein's hookup site. I will take your word for it.
The rats are jumping. Anyone with early access #s is seeing the exact same thing: 2008 redux.
I'm going to go ahead and embarrass myself and make some calls. I'll probably be wrong but I'll earn me bragging rights if not:
AU will be above $1230 sometime between now and six weeks from now (let's call it 10/7.) Not saying it stays there, just that it goes over. If we copy '08 it will spike then plunge back to 1100 or below.
One or more major banks (my bets are on a European one) goes Bear Sterns or Lehman on us (most likely Lehman and gets bought/bailed out after the news hits) within six weeks.
No rate hikes, and in spite of QE not working, QE4 or something similar will happen -- but probably outside of the six week time frame. If I had to gamble, I would bet we see a Bush-type stimulus "free money that's really your taxes" check between now and Christmas 2015.
I would bet we see a Bush-type stimulus "free money that's really your taxes" check between now and Christmas 2015.
From your lips to God's ears! But even better- some good & large job contracts!
The rats have to jump at some point. That day is coming.
Good. Fuck this shit, it's about time.
idiot central planners will now lower usd down down down to "boost" exporters and S&P ... of course it will not help
It is going to be interesting. I bet on physical everything and have ZERO money in market paper anymore. I just have to hold on for now.
Looks like EKG Vital Signs. "We're losing him (the Ponzi)! We're losing him. Clear! Zap! QE. "Ponzi's flat lined Doctor." "We've lost him."
Animal House came out my Freshman year at college. Good times. Toga! Toga! Toga! Kevin Bacon was just a baby too.
Typical scumbags. We left on the 13th to rent our place in HHI. We knew exactly what the 30k upgrade condition of villa was. We arrived yesterday. A fucking hole in the wall, broken electric wall socket, and deep scratches in second bedroom. We replaced blue carpet with engineering wood. 50 year warranty.
That cunt is not going to get his damage refund back. We have so many good reviews. He was such an asshole, I grabed the phone a told him to shut the fuck up. This is not CNN talking over my wife. They also broke dishes. We don't care.
Any landlord Payment refund for reservation HA-NK45BP sent to Ryan Benskin: Aug 13 through 18 - VRBO.com #718346. Whoever gets a call from him. Run, he is a IT scumbag. Will distroy your place. A wedding party of 6 who had to go to Shipyard across the street keep the our place immaculate.
http://www.vrbo.com/718346
You must learn: when guys get drunk, they break stuff. When women get get drunk, they throw up and then fall asleep.
We own ten properties. We seldom inccurr a problem, $1500/week. This renter called me. He asked how he could install a secondary device on the 50" TV. Wanted me to walk him threw back connections. I told him you have three TV's and free Internet access under my guest password.
He fucked up my place. Screw him. I will make his life miserable. He is like Hillary Clinton, denied damaging my place that I stayed at hours of handing over on August 13, 2015. I've been at Charleston, SC HQ since the 18th. Keep your daily rate at $150/night. Problems still occur. They will be red flags as damage control. Raise it to $500.
You're VRBO black listed Ryan Benskin. Fuck off. Never welcomed to stay at our place again. Too many good reviews at our place.
The STORY is the drop in the US dollar today (BUT the rising trendline is not broken yet).
And along with that - the rapid rise in rates on junk bonds.
RISK ... is starting to take a bite into the economy.
Here you go. I almost do want to go do a fight club scene. I am getting old though. I have a fake front tooth from that one time I lost. You can't win them all.
Don't the douchebags call that felony assault now? Halfway in the video the dude got dropped because he was lipping off and couldn't back it up. Down you go then. And then you have the women in the way and non-stop bitching. Shut up and get the fuck out of the way because this is man to man and we are going to have a go.
It is fight club.
I don't want to get too excited but gold/silver had an awesome day in the face of a pretty big down day in the market. It is almost as if the "market" is starting to work. I know, I know gold will get slammed $20 tomorrow morning pre market...
My only good recent trace was my Jan 2016 AUY $2.50 call options at $.17 3 weeks ago that have just about doubled now. If this gold run continues I am thinking they could be a 10 bagger!
Why the big sell off at the close?? I was totally expecting to see a PPT ramp up to unchaned on the day - like usual.
The FOMC minutes were their usual joke and the ramp up off the release was even more of a joke.
Great Charts like Symphony Scores.