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Dow Follows Biggest Crash Since Lehman With Third Biggest One Day Surge Ever As China Dumps Treasurys
Another dead cat bounce... but this one didn't completely collapse... which means...
S&P kisses goodbye to #correction. #Adios!
— Amanda Drury (@MandyCNBC) August 26, 2015
Log in to Etrade like pic.twitter.com/FhjdbiBWf5
— 3:30 Ramp Capital™ (@RampCapitalLLC) August 26, 2015
Victory!!!
As Nasdaq gets back into the green for the week!! Mission Accomplished...
As post-European close panic-buying hit US Stocks...
And Bonds were brutalized today as the realization that China is selling spreads... This is the worst 2-day percentage yield rise for 30Y bonds since Oct 2011.
And bond liquidity was absymal....
10Y Futures Volume 8/19: 1,342,746 8/20: 1,144,180 8/21: 1,378,470 8/24: 2,922,005 8/25: 3,111,586 Today: 1,349,883
— Stalingrad & Poorski (@Stalingrad_Poor) August 26, 2015
Another day, another overnight ramp on vapor-thin volume to maintain the illusion into the US open...
And then the panic-buying ensued.
CNBC cheerleaders out en masse today once again... which made one tweeter think...
if as cnbc says this is a healthy correction - why are they running "Markets In Turmoil" every night?
— Tim Backshall (@credittrader) August 26, 2015
But thanks to USDJPY, eveything was awesome...
Volume was weaker than it has been in the flush...
NOTE - today saw another lower high!! Be Careful
Today was the biggest short squeeze since mid Dec 2014...
Perhaps a little context is required for this 'healthy correction'... Todsay is The Dow's biggest point gain since Oct 2008 (and biggest percentage gain since Nov 2011)
AAPL's best day since April 2014...
And VIX saw its signal early on and pushed down to meet it... VIX crashes below 30 once again...
Meanwhile - have no fear, The VIX Term Structure is 'normal'....
looks totally safe pic.twitter.com/6B7iV6RQMA
— HedgedIn (@noalpha_allbeta) August 26, 2015
Chatter that credit risk has turned are overstated... as counterparty risk seems notably bid still...
But the S&P has caught down to the weakness in the credit cycle...
EUR weakness and Cable hammered drove the USD Index higher on the day and back into the green for the week...
Commodities were all sold with silver and gold worst hit. The PMs did stabilize a little after Europe closed as copper & crude kept sliding...
WTI ended at the lows of the day with a $38 handle once again (despite weak production and a big draw)...
We leave you with this comment from one bruight CNBC anchor, smiling gormelssly at thblionkg green lights...
"Concfidence In The Market Has Been Restored"
So no need for 'Markets In Turmoil" shows anymore then?
Charts: Bloomberg
Bonus Chart: A Change In Trend Is Coming...
The one Sentiment Survey that's NOT contrarian signaling potential change in trend pic.twitter.com/tM2fK8DogK
— Not Jim Cramer (@Not_Jim_Cramer) August 26, 2015
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Everything is swell, it's just swelling.
Just brought the Dow and most stocks back UP and inside the Bollinger Band. Doesn't really say what happens next, but the most likely next move is sideways for a few days and then a retest and new lows, and that serves as a basis for the start of a real recovery. But the long term prospect is sideways too, at best.
It always helps when, inevitably, Goldman/Fed Bill Dudley announces that he doesn't want to raise rates and Ray Dalio demands more QE.
What a joke it all continues to be. Looking forward to the day when the market exerts some discipline on these guys and smacks them around like a lion showing them who is really boss, rather than being complicit and docile.
Do you US folks have a Holiday on Monday?
UK has a Bank holiday, no trading.
Will this make any difference?
NON-trading day & NON-settlement day in EUI
RockySpears -
Labor Day here is Monday 09/07, but thanks for the reminder - I'd forgotten all about it...
Now we'll wander sideways throught the lockdown and into 8PM when the BoJ starts to work its magic. Then on to 2AM when Frankfurt opens (Japan closes), followed by most of Europe at 3AM (NYT). Rinse, Repeat. Until price and volume gets where those caught with their hands in the monkey jars think they can get out. Then they will test the market with relatiively small amounts and find that the so-called liquidity is just the same 5000 shares trading back and forth. The evidence will be long red candles.
Damn sociopaths.
unicorn rainbow skittle shit and dead cats win the day...
no surprise in any of this.
I guess the deer were just wore out, we have been running them kind of hard lately here at ZH so it's good they got in some downtime today.
cause I have no doubt they will be back soon.
"It ain't rigged. We swear."
LOL
Zion is a scheme, not an ethnicity..
My dad called today and asked about how I knew that the so-called markets would rebound this week. I remind him that on Monday I had told him that the markets are rigged, and, contrary of what the noiZ-media says, there are few retail investors. I had also told him on Monday that, based on what I was seeing in the noiZ-media, there was going to be another high profile "gun-event" very soon. Sure enough. Zion and tyranny is getting very predicable.
So no rate hike in September, next Fed meet is December? I'm curious to see the buyback rate from now until then. Seems the cracks are spreading and it's time to loot the fuck out of every company while they still can. You have 3 months execs, time to do God's work.
Today is a great example of why technical analysis is worthless. Must play the Fed.
If I had all the money in the world, I could be a stock-rigging genius too!
This Time Is Different ©® (until it isn't).
"for thy merchants were the great men of the earth; for by thy sorceries were all nations deceived"
Dow closed 619.20 up
Mathew 6-19-20;Lay not up for yourselves treasures upon this earth where moth and rust does corrupt and thieves break through and steal,but lay up for yourselves treasures in heaven where neither moth nor rust does corrupt and where theives do not break through and steal.
HOW did you fail to mention THIS which I believe from the timing of the market rallies was the SOLE reason for the rallies:
Fed’s Dudley backs away from September rate hike
Aug 26, 2015 12:20 p.m. ET
http://www.marketwatch.com/story/feds-dudley-backs-away-from-support-for...
I thought "churning" was illegal; guess not for TPTB. They move the handle, the public gets stung by the end of the bullwhip.
The world economy is like a spin top - it wobbles more and more just before it falls.
Smells Fishy.
Apple Inc. (AAPL) -NasdaqGS
109.69 Up 5.95(5.74%) 4:00PM EDT
After Hours : 109.84 Up 0.15 (0.14%) 5:26PM EDT - Nasdaq Real Time Price
cha-ching.
http://finance.yahoo.com/news/tech-stock-bargain-hunters-scramble-to-gra...
The central bank cartel has still got control of the world markets.
People questioning a rigged market. There is solid evidence the whole game is rigged by a select few. Best way to play this market is not to play.
"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." — Rothschild Brothers of London, 1863
I'm guessing the financial raping of nations will continue until people stop playing. There is no opposition on the horizon.
When is the bubble going to burst?
When will the correction go back to it's proper value, of say, 1000 instead of 16,000 ?
One day Belgium is going to announce that they own everything in the world! lmao. that'll teach us.
that was the short term flush...about time
This is making my head hurt. Why was yesterday’s rally sold, while today’s rally was bought? From a technical standpoint I see nothing. Were investor’s impatiently hoping to sell into a rally, and all sold Tuesday’s rally, leaving few sellers to impact Wednesday?
PPT proved that they are still in the game bigtime!
looks like support at October low
SPY has room to run up to 207.50ish with some expected vol
Buy Stawks!
So excited that they can't spell check.
Tell me, what good is a stock rally when very soon all the sustainable organic life has been removed from the Earth? When your sources of water are poisoned and crops are destroyed by plague? What will your money matter in that hour? Better get a word of faith from Jesus Christ! He is the only one that can save in these coming hours. Look at this: http://www.churchfreedom.org/stewardship-of-the-planet-earth/
I have a theory as to these types of gains. Something to the effect that the smart money gets out early/high on time. Managed money starts gets out as the crash starts but does not have enough buyers to get out at the price they wanted to, so the call up their buddies to gather up main streets 401k funds to catch the knife. This causes this temporary increase in the markets. Once mom and pop buy this dip via their 401k fund, then this thing goes down the rest of the way. The biggest scam with all of this is to get the sheep via 401ks to buy the top.
im not into the 'china selling tsy's' meme. last i checked if you want a weaker currency you SELL the DOMESTIC and BUY the $. buying the $ means buying tsy's. 'adding liquidity' is similar, devalue local vs $ should see the $ INcrease.
so either the chicoms are selling both $ and Yuan and buying the Euro (sooo solid)....or this meme is a diversion.
$ may be going down on the idea that there will be no rate hike. usually when global stocks sell off, the $ goes UP, this time, the Euro is up.
amongst these concepts, the weak Yuan really should mean stronger $. and gold has been running an increasing correlation with the $ since golds bottom.
Comments welcome!
It's a lot fecking funnier and better TV when observed from the sidelines.
And yes I do understand we'll all get bent over in the end.
GLTA
https://www.morningstar.com/news/market-watch/TDJNMW_20150826506/judge-d...
A federal judge on Wednesday dismissed a lawsuit against Barclays PLC that was inspired by the best-selling book "Flash Boys: A Wall Street Revolt" by Michael Lewis.
The suit filed in the Southern District of New York by the city of Providence, R.I., and other investors cited the book and alleged that Barclays (BCS) (BCS) and the U.S. stock exchanges defrauded investors in its dark pool, a private trading venue, and gave high-frequency traders an unfair advantage over others.
Judge Jesse M. Furman said in his opinion that the plaintiffs failed to show their complaints were "legally sufficient." The plaintiffs may opt to amend their complaint and refile, the judge said.
"We are pleased with the court's thorough and well-reasoned decision dismissing all the allegations in the complaints concerning Barclays LX and concluding that the plaintiffs were unable to identify any materially false or misleading statements by Barclays," Barclays spokesman Marc Hazleton said in a statement.
Lawyers for the city of Providence said they were still discussing the judge's decision and hadn't yet decided whether to appeal. Frank Bottini, a lawyer for another plaintiff, Great Pacific Securities, said he was planning to amend the complaint and seek to have it moved to California where it was originally filed.
Representatives of NYSE Group, a unit of Intercontinental Exchange Inc. (ICE) , Nasdaq OMX Group Inc.(NDAQ) , and BATS Global Markets Inc. declined to comment. The exchanges have previously denied allegations that they were creating an uneven playing field for investors.
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According to the judge, the exchanges are SELF REGULATORY and have IMMUNITY. In other words the CFTC and SEC are useless. The markets have been proven by NANEX that they are rigged and now that doesn't matter. Get your money the fuck out now and spread the word.
============
Here is some background on the lawsuit:
Pension Funds Joins Lawsuit on High Frequency Trading
http://dealbook.nytimes.com/2014/09/08/pension-funds-join-lawsuit-on-high-frequency-trading/?_r=0
A group of pension funds has joined with the City of Providence, R.I., in a lawsuit that claims that major stock exchanges improperly favored high-frequency traders at the expense of other investors.
The pension funds, including one in Boston and another in Stockholm, have joined a lawsuit originally filed by Providence in April, according to a filing in the Federal District Court in Manhattan last week. They are taking aim at some of the biggest stock exchanges — including the New York Stock Exchange, Nasdaq and BATS Global Markets — as well as the investment bank Barclays, which operates a private stock trading venue known as a dark pool.
Their legal action comes during a period of heightened scrutiny for high-frequency traders, which use computer algorithms to buy and sell shares in milliseconds. In recent months, Washington lawmakers have summoned financial executives to testify about high-frequency trading, the Securities and Exchange Commission has stepped up its scrutiny of the practice, and the New York State attorney general has sued Barclays over high-frequency traders in its dark pool.
The pension funds and Providence, which are seeking class-action status, claim the exchanges ran afoul of their legal duties by providing certain advantages to high-frequency traders, “diverting billions of dollars annually from buyers and sellers of securities and generating billions more in ill-gotten kickback payments.” They are seeking an unspecified amount of damages.
Spokesmen for the defendants, which also include the Chicago Stock Exchange, all declined to comment.
Stock exchanges offer a number of paid services used by high-frequency traders, including detailed data feeds, special types of orders and the ability to place computer servers in the exchanges’ data centers. The lawsuit argues that such practices hurt other investors, and it claims the exchanges have a “financial incentive to create an uneven playing field.”
These services have attracted the attention of regulators as well. The New York State attorney general, Eric T. Schneiderman, singled them out for criticism in March, while the chief of the S.E.C., Mary Jo White, said in June that exchanges should conduct a review of their order types and disclose more information about how they use data feeds.
In addition to Providence, the plaintiffs in the case are the Plumbers and Pipefitters National Pension Fund in Alexandria, Va.; the Employees’ Retirement System of the Government of the Virgin Islands; the State-Boston Retirement System; and Första AP-fonden, a pension fund in Stockholm.
The Wall Street Journal earlier reported on the updated lawsuit.
==============
Dear Mary Jo White, Is this FUCKING FAIR?
https://m.youtube.com/watch?v=f9EjJoCNtoo&feature=youtu.be
Hey, I just watched that clip of the Lego movie, and you know what? Everything is really *AWESOME*... a bunch of little bits of petrochemical engineering said it, so it must be so.