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Biggest 2 Day Surge In History Saved As Epic 3pm 'VIXtermination' Ramp Undoes "Quant Omen" Tumble
No lesser Fed-questioner than Pedro da Costa provides the visual entertainment for today...
Market 'rebound' pic.twitter.com/ve8pIHyfwH
— Pedro da Costa (@pdacosta) August 25, 2015
But then, with 30 mins to go....
While stocks is "wot reelly mattahs"... today's move in crude oil was simply epic...biggest single day surge since March 12th 2009 - this is a 6 sigma move based on the vol of the last 6 years (the equivalent of passing a man in the street who is 6'11" tall)
The Dow just went from its biggest 2-day point loss to the biggest 2-day point gain... this is not going to normalize quickly...and sure enough once JPMorgan unleashed their reality omen, and Plosser pointed the finger at GDP and a 'decent' economy, everything fell...only to be rescued in the last 30 mins by a VIXtermination
Quite a week... well over 7500 Points in the The Dow...
While the volatility comparisons are all tothe 2008/9 period, we noted another more accurate comparison... This surge looks like the August 2007 period when Geithner leaked the news of a 50bp discount rate cut and enabled the last hoorah for banks to unwind over-extended longs into retail greater fools...
And there is no volume in this bounce at all...
VIX remains in backwardation... but plunged today at the front-end...beforee ripping back higher after JPM/Plosser
After its biggest 2-day rise ever, today's retracement was of similar extreme size to other events over the last 10 years...before it broke higher
* * *
The day was very wild...
Starting with stocks, we contonued to ramp after China unleashed exuberant plunge protection into their close... a 5.3% bounce into the close!
And US equities kept running all day as business media cheerleaded mom-and-pop " did you miss your chance to buy low?" - until JPMorgan unleashed some facts and Fed's Plosser peed in the party punch... and then VIX was punched lower in a panic-buying last 30 mins...
So US Stocks LIFTED 2.3% in last 30 mins... in context China LIFTED its stock market 5% - so Ken Henry must do better.
Just look at the noise in VIX in the last 30 mins...
Thanks to the biggest 2-day short squeeze in 4 years...
The equity exuberance was not experienced in credit land...
Today's rip was driven by energy stocks which in turn were driven by total idicoy as above in Crude...
Because how manhy times has buying the dip in Energy stocks completely and utterly failed...
Thinking out loud on levels...
On the week, everything was awesome to start... but then the Quant Omen hit... but then again - there is always panic-selling driven by VIX collapse...
But we thought it notable that Small Caps and Nasdaq rolled over after touchingthe opening gap down levels fromlast Friday's tumble...
The Nasdaq managed to get green year-to-date, but everything else remains red...
Treasury yields rallied as stocks fell in the afternoon - closing around unch on the day...
The US Dollar strengthened once again on the day but faded post EU Close with USDJPY dropping after JPM dropped its reality bomb...
Commodities were where the real action was today...
With crude the standout craziness...
But copper and Silver also surged...
But But But... the clever chap on CNBC yesterday said "this proves investors confidence in the market is back"??
Charts: Bloomberg
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A COMPLETE FUCKING FARCE....
DEATH TO THE MONEYCHANGERS.....
Now that is change I can believe in.
I guess we will be seeing a lot of this in the coming months. But all-in-all, they are losing control very fast now. This kind of propping up the stock market in the final hour every day won't hold for long.
yes they are losing control...
www.denk-bubbles.com/sorry
Unfortunately, the majority of ZHedgers will continue to be scared throughout September/October when a lot of scary things could happen. HFT algos will be undeterred in making money in these "markets" however. I'm still looking for near 2100 S&P500. Keep clicking away at the red down arrows!
Surges worked out just fine in Afghanistan and Iraq, so I’m sure this one will work out well, too.
The world almost forgot about this tremendous success by the US, to bring democracy to Afghanistan via a surge. How about making this the new yankee doodle: "SURGE, stocks, surge like Afghanistan".
Yellen uses a St. Bernard and Peanut Butter to get her surge going. Patent-pending.
I took my largest dump in my history today as well. Records being broken all around!!!
haven't you heard about the Shemitah? beware!
Exactly - it happend a month early. ;-)
Generally, scary booktitles also sell well: I remember author Paul Erdman:
H-M-M-M-M ...
Dude, this week was not a crash it was just a minor pull back. The crash will happen. look for 500 on the S&P and maybe 4000 on the dow. then you will know the crash happened.
No down arrows, but I might take the other side of that trade. It's getting close to short-the-fucking-uptick time again. As long as the trend is unconfirmed, both strategies will work will only acceptable timing, but once the trend is confirmed, whichever strategy is revealed to be counter-cyclical will only work with unrealistically precise entry and exit points. And the table is still 500 points in my favor. Fear doesn't enter into the calculation.
Urban in Zuri: I respect your POV. All I say is that we have seen the lows for the S&P this year.
Dude you have to get rid of that orange M. Everytime I see it I down arrow it.
I have NO IDEA where the S&P will end the year. I just have to surf (and survive). For all the similarities with 2008, it's actually nothing like 2008. The amplitude this week feels to be twice what it should be, exacerbated by structural defects in the market. The same defects were revealed in 2008 (ex. HFT), but were only ancillary until the flash crash a year and a half later. 2008 was a systemic failure.
But my perspective is very biased, and relatively defensive, so take it with a grain or a mountain of salt. In 2008, I delayed moving back to Migros-land to get back in the trading game professionally for a few months (after having just moved from sunny Geneva to the land of gay black homicidal television presenters... right after the two Bear Stearns Subprime funds gated). A friend had positioned a portfolio correctly going into the summer holiday, but unfortunately had millions of AUM in the Reserve Government Fund (short term UST only, no agency debt). The fund didn't "technically" break the buck, but only because they quietly gated it for months in the midst of a raging bull market in short term UST (mark-to-myth NAV when the system breaks, and no one on TV dared to speak about it). So we had a bunch of PM and relatively defensive stocks. However, we had no ability to short a raging bear market (even when long positions in the short ETFs were actually working) because there wasn't any cash or margin available since this HUGE relative cash equivalent position was now ineligible. We managed to get back to even well before the market bottomed in the spring. So (with a LOT of luck) it is possible to achieve those unrealistic entry and exit points.
I have NO DESIRE to repeat that experience, even without the added responsibility of managing OPM. If the S&P has bottomed this week, it can either go nowhere for the rest of the year, or it can go up, regardless of the intervening volatility, but it must be driven higher by either fear or greed (absent QEnext)... because the fundamentals don't support it and the technicals don't (yet) support it, and simply maintaining the status quo would require both the Europeans and Japanese powers to thread a fine needle for the next four months. It's a good thing I took my vacation in July, or I might have to worry about where the DOW or S&P will be when I got back at some future date.
Thanks, great comment. Sometimes, after I get beat up in the "markets", I wished I also had greater humility. If we were to see lower intraday lows or a lower closing for the S&P (e-mini) (for the year) I would get out. However, I have decent entry points, and took one third profits already. This is what I wrote on on 8/24 and on on 8/26.I like to be a contrarian, but sometimes I'm too early and/or too agressive.
I left CH 20 years ago (always go back to visit though). My name in conjunction with the picture represents one of my country's heroes.
Wild week. Probably at the lows for the week.
Fiat is massless mayhem on the markets, and the real trading machines can move trillions in minutes. amazing.
My shorts moved +/-15% in 1-day, and am out for now with small profit.
Is it your 'dutti' to cheerlead the fucking algo bots? You must be one patriotic motherfucka!
Cmon...400-600 pt swings a day..and you portend that as a loss of control....like a ship being tossed to and fro?
The dominant narratives of the past days have been: "the end is nigh" and the view that the turmoil in markets was just about what the Fed and China would do. Both were fallacies.
Did your parents have any children that lived?
It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way – in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only. - A Tale of Two Cities
And yet they must realise the ultimate futility of what they're doing. Surely?
DavidC
THEY ARE GOING TO STICK SAVE THIS LIKE THEY DID IN 2014 and it's going to PISS ME OFF! I though no way could they get away with it again. WRONG! I am so pissed!
Don't get mad. Listen they have to play this game right now. Kevin henry will even have to tip his hat when his demise comes knocking. It will be epic. This is nothing but rich people in the satan fake jew club unwinding positions because it is about to go poof! Read above again as it is like the August unwind with turbotax timmy.
Fucking Pissed, too! Fucked up my whole day... Cunts Cunts Cunts!
after 7 yrs of rapings, did you guys really think this was the moment they 'gave up' control?
"QE4! QE4!
Unless this turns into a short squeeze face ripping rally quickly, it's guaranteed before December."
the last 2 days have been your short squeeze face ripping rally, to avoid 2015 QE4 FTW. Just push expectations out a few months as a result. The ultimate outcome is so amazingly predictable, it's a wonder why anyone would bother with timing, or details. just sit back, relax, keep stacking, and watch the dominoes fall.
Warren Buffett is a fake Jew? Who knew?
I hope you do not actually believe Warren Buffet is a shot caller?
The fat lady hasn't sang yet....
Nor has she raised rates.
That creature they call Yellen is definitely not a lady...
The Fat Lady sang an outdoor opera 'Offenbach' on the eve of the Lehman Brothers Chapter 11, and that was in September of 2008. Everything since then has been Extend & Pretend.
Time for ZH to close it down, nothing matters anymore. Why even bother cover this shit anymore.
As David Korten labels it, this is a Phantom Financial Economy.
How can 300+ swings represent anything real? Duh - they don't.
It is just a game. A casino. Las Vegas East.
people said the same things in 1987. then, however, the buildup was a bunch of scary 2-4% bounces, and the big drop was over 22%. rebounded fairly fast. i believe that was the official death of the "efficient market hypothesis".
Cause it's fun to read and I have a job building productive assets and don't spend my time trying to pick up pennies in front of steamrollers so I could give a shit. Obama will not leave office without a major financial crisis, this way they can get the candidates fighting over who can suck old man Rothchilds wrinkled liver spotted cock the longest.
You seem to possess intimate knowledge of the outward appearance of old man Rothchild's cock. Is that you, Monica?
No it's your mother
Fed pimp hand remains strong! Out of bullets! Lost control! Ahhhh, not quite.
I don't care about any of it. None. Except how the fuck they did keep Gold so tight and actually in the Red. Was it even open for trading today ???
no shit....
how much more obvious could the Fed's desperation be...
KILL ALL BANKERS.
Ssmoke
I'm sure you know but gold is just a fractionally reserved alternative to other fractionally reserved paper products and it is losing it's appeal.
Those who seek security in physical have to seek it out in coin stores and online phyz traders. It may close at 300 before it is declared officially deceased.
My advice is to ignore the POG. It means very little these days....but it does still determine the price you will actually pay for your physical......for now.
well, that looks normal to me.
If ZH bearish article > 5 ramp hard.
Else If ZH bearish article > 0 and < 5 ramp modestly.
Else ramp.
END
Theory stands. Ramp just to piss off ZH.
I can see how a small mind would think that way.
Nope. Ramps exist to assure the sheeple that all is well, and has never been better.
Nope. ZH is THE stop building capitol.
Where TF is the Dramamine?
“Algo-Lung” from "Aqualung" by Jethro Tull
Sitting on the chart trend
Eyeing retail orders with bad intent
His bots are running through the close
Sleazy profits, grabbing all the lows
Hey Algo-lung
Spiking just before 1:00
Watching as the squirrelly shorts all run
Hey Algo-lung
Then backing up the dumptruck
Head-spinning decrease as new longs yell “Fuck!”
Whoa, Algo-lung
Volume going cold, an algo meandering slowly
Buying time the only way he knows
Longs hurting bad, as he ends the post-lunch downtrend
And starts to jog back up, after their defeat
Never alone, more algos up the road
Transitioning to ramp mode in a group of three
Algo-Lung my friend, don't you stalk VWAP too early
You poor old sod, you see, it's only 3:00
Do you still remember October's little tease?
When September’s swing high ends in fear
Then snaps back with a “V” ?
Then you milked the rally’s last breaths
with a tight range that astounds, as the buyers churned
like madness through the Spring
Dee-dee-dee-dee Dee-dee-dee-dee-dee-dee-dee . . .
Algo-lung my friend, don't you hug VWAP too early
You poor old sod, you see, it's only 3:00
Told ya to come and play CL with Uncle Saints yesterday....lol!
Missed my 10:08 long TNA entry by 5c, refused to chase, had an afternoon appt. and missed the short, and ended up with no trades today, so I'm good. Hope you were long (!)
another gem !!!
you musta worked extra long on this one. brilliant!
Thanks. Oddly enough I did most of it while watching the 1st half of a Premier League football match. More 'literary' lyrics are a better fit with my writing style, so it's those simple Top 40 lyrics that often take the longest -- counterintuitive, it seems.
Wasn't able to get in until $40.50 so I missed some of it at that point. Stopped out at 41.26 around 1030ish central time thinking going into Euro close so this may be todays ceiling. I was looking for a signal to sell then it just turned North on low volume. At that point I sat back and watched. I did see something at 1:03pm where crude tried to sell off but robots lifted it so quick. If you have a quick chart look at 1:02pm central time to 1:04 pm cst. You will see how HFT's spoof.
Fucking superb!
What in the FUUUUKKKKKK!!!!
Apparently, it wasn[ this Thursday.
JPM head cunt...there, fixed it for you.....
Apparently, it wasn[ this Thursday.
I guess it's all fixed ...
https://www.youtube.com/watch?v=VlVmdGiAH2A
Another 'since Lehman' moment ..submerging markets money meltdown
http://www.bloomberg.com/news/articles/2015-08-27/money-pours-out-of-emerging-markets-at-rate-unseen-since-lehman
At least it was off the highs, Comrades.
*checks today's high*
16,666.69
^ Seriously?
Sheez ... cant you read the sign ...
In september
16,666.6[9]
On the 16th
[16],666.69
We are going to destroy everyone coming and going
1[6,66]6.69
16,6[66.6]9
And you better be ready for the party
16,666.[69]
Sincerely the Fed
16,[666].69
Written at 17:07 = 1 + 7 + 7 = 15, = 1 + 5 = 6.
Viffer is one of THEM. Heed his words.
KEVIN HENRY!!!!!!!!!!!!!!!
LETS GO BACK TO TUESDAY, TUESDAY MORNING THE FUTURES R UP LIKE 3 PERCENT, FIGURE ITS A DEAD CAT BOUNCE. CNBC TRYS TO SAY ''INVESTORS'' ARE WANTING TO GET BACK INTO THE ''MARKET'' AFTER A BIG CORRECTION.
HOWEVER, LATE IN THE DAY, AFTER WE SELL OFF, NOT EVEN THE DUMBEST SHEEPLE COULD ACTUALLY BELIEVE THAT ''INVESTORS'' WANTED TO GET BACK INTO THE ''MARKET'' WED AND THURSDAY AFTER THE WAY THE ''MARKET'' SOLD OFF TUESDAY AFTER SURGING AT THE OPEN.
THIS IS 100 PERCENT THE FUCKING FED AND ALL THE BANKS PUMPING UP THE ''MARKETS'' ONCE AGAIN, AND THERE ARE ZERO REAL INVESTORS BUYING THIS ''MARKET'' DESPITE WHAT CNBC WOULD LOVE TO TELL US.
I HOPE WE SEE A -1000 DAY TOMM AND I WANT TO FUCKING PUNCH BOB PASANI IN THE FACE AS I TYPE THIS
I agree on Pisani...he annoys me more than Kernen & Cramer. That's says a lot.
Everybody take your Dramamine cause we're sailing straight into a hurricane.......
yayyyyyyyyyyy!!!!!!
No sea sick
I can't wait for gas to jump to $2.79 again tonight.
Wait, what. Gas has never been over $2 with oil under $40. Oh well Wall Street will make sure gas will never go below $2 again, even if oil dropps to $20.
You must not live in Commiefornia...lowest price around here is $3.19; and the shitheads in Sacramento want to raise the gas tax another $0.12/gal, after a $0.40/gal increase in January.
CA state taxes on gasoline = 60.75 cents/gal.
WA state taxes on gasoline = 55.90 cents/gal -- but at least we don't have an income tax.
Tax. Tax. Tax. That's what gubermints do, instead of living within their means.
If you drive a car, I'll tax the street
If you try to sit, I'll tax your seat
If you get too cold I'll tax the heat
If you take a walk, I'll tax your feet
Taxman!
Cos I'm the taxman, yeah I'm the taxman
" instead of living within their means. "
Don't need too, when you can vote yourself more OPM.
Government will make sure gas never goes below $2 again, even if oil drops to $20. Fixed it.
When it comes to gasoline, the biggest money maker is the government. A barrel of oil could go to $0 and the state and federal taxes would still cause pump prices to be at least a buck.
I agree with the sentiment but taxes are generally % calculations and anything multiplied by zero equals a big fat Zero ! Best way to avoid income taxes - Zero income.
Price of Oil has halved while the pump price for petrol (gas) here in Oz has hardly moved. Enjoyed a momentary drop after the intial roll-over but it soon crept back up after the monopolizers and colluders had their price-fixing meeting (golf day)
Here in the states, the gasoline taxes are not based upon a percentage of the price. They are hard numbers based on so many cents per gallon.
This is eventually going to end, but enjoy it.
https://www.youtube.com/watch?v=PI6vyI8vJlc
Ignore the irrelevant ending about Israel.
Paging Dr. Minsky, White Courtesy Phone
And there's Monday. Just a thought.
someone really wanted VXX to close near $25 today ...
Right shoulder
If its technical, you lose.
could be a multi-headed monster, though....
Fuck it, Drilling holes. Rolled the dice on some one day puts after the past 2 days.
a bit pricey, no?
i sold some of my longer dated index puts to fund the dice roll on the daily so it eased up the cost a bit. Long term it was perhaps not a prudent move but it is more engaging than Fantasy Football, I can afford to gamble some lunch money, and I will be both rich from the options ;) and content from Bob Pisani's misery (and Simon Hobbs, who was a real cunt today when speaking about gold) if this bullshit market vomits tomorrow or tonight.
Edit: that was a long-winded way of stating: yes, a bit pricey.
take care.
Compared to 2 weeks ago, 20 $ strike below current price on September SPY Puts more than doubled in price and that was checked after the 3 Liftoff. And 2 weeks less to expire. Fuckers. Nice premium.
I hope this week is just short covering, and we are back to a landslide next week.
Let crude have a little fun and lean into a short if it fizzles out and/or weaves over and above 46ish. Can do the same with SCO let it get killed a bit and wait for a long entry. Crude was down several weeks in a row countertrend rallies can be violent.
In fact, could very well watch SCO to see it getting bumped up before the crude countertrend rally fizzles out.
Yeah, because everyone has a great time on the Tilt-n'-Whirl at the fair, and nobody ever barfs either.
I love you Yanks and your stock markets, pure entertainment. I shorted it once a new high could not be made and the internals rolled over and did very well thru' using a trailing stop but you guys are unreal for vicious reversals.
We love the whiplash.
Oh, how we endure the whiplash around here! https://www.youtube.com/watch?v=FMPFQo5V-lA&list=PLD1fdXT_wqXn6wkBwfyObozb22RA2BXwL
My name is Kunta, not Muppet!!
At this rate the fed will be the biggest holder of equity stocks
As the very old statement goes....Never underestimate or bet against the un-fed.
They will always, always, forever step in and save Banksters Inc/stawks.
"They" are one in the same and do as they please.
The show must go on...
That giant sucking sound is "Just Us" vacuuming the last of the loose change before evicting the sheeple from fantasyland.
Promise? Is this finally the hope and loose change I can believe in?
This is no doubt due to Yellen's patient and truly breathtaking economic knowledge. When the people panic, a true leader can instill confidence through sheer determination of the real numbers. The economy is recovering to such an extent that people have become irrational, they are so overwhelmed in their purchasing power that they feel an exhuberant loss; that this cannot be real. However, this correction proves the unmitigated surge of real economic growth.
Yellen has overcome any doubt, her mind is free and clear - she has corrected the Hydraulic Keynesianism of the past. I would highly suggest for men, and women, of true character to go all-in tomorrow.
Should be an interesting - Friday
Should be an interesting - Monday
From the early 80's to today is the same fiat ramp.
What I like about high volume crashes and low volume recoveries is the fact that all the pussies have been shaken out. They sit on the sidelines while things go back up without out them... they then buy in volume at the top (that's your key on when to get out).
shhhhhhhhhhhhh!
JPM made nice quick 2% on the last half hour from us suckers who believed the "big selloff" story.
It shouldn't matter if the fundamentals are strong, right?
LOLOLOLOL
My fortune cookie says RUN.
PPT has their own master card with unlimited heroin funds (cia/pentagram owns more stock in ge/appl) so somebody cleared there shorts and made another shit load of whatever they want. All better.... aah
Back to not working.....
I think a man on the street would be about 8' 2" in a six sigma scenario....
Fuck NYC
Did you see the 3:05 erection on the Dow? My man meat doesn't get that hard, that fast. I think some financial viagra was used.
I would say this is a vote of confidence in the market's ability to discover price. I mean depending who you talk to during the day, the Dow is overvalued by 5% or undervalued by 5%. The market reflects this.
Yes! No! Maybe? What was the question? Can we get back to you?
the peanuts gang line up for the "short" field goal attempt for the win. the kicker is charlie brown, the holder is lucy. the snap is good, the ball is down, and PSYCHE! Lucy pulls the ball out and down goes charlie brown like a clown. The crowd is screaming, oh no! i can't believe it happened AGAIN! lulz
Very strong fundamentals!
Houston offshore driller to be delisted from NasdaqHercules filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code in August.
Before bankruptcy, Hercules sold four of its Gulf of Mexico rigs in May, a direct result of the continuing fall in oil prices and the particular impact on the offshore industry.
http://www.bizjournals.com/houston/blog/drilling-down/2015/08/houston-of...
Interesting how volatility begets more volatility. Aside from dozens of technical and allocation-related reasons (e.g., pension funds) that everyone's familiar with, the simple intraday pivot calculations cause pivot point spans to widen astronomically, so those that only play these horizontal treasure hunts panic whenever a half-pivot is breached, and machines are only too happy to spike it the rest of the way in minutes. Seems only a few months ago we were complaining about horizontal afternoons ...
I'm loving this - this is the best high I've had in a long time - damn - this is good shit!
A part of me agree's with you, I am prepared but I worry about my kids & theirs.
FED using up its band-aids quickly. Won't make it to the end of Shemitah at this rate.
"biggest single day surge since March 12th 2009 - this is a 6 sigma move based on the vol of the last 6 years (the equivalent of passing a man in the street who is 6'11" tall)"
6-sigma event thanks entirely to the HFTs:
http://www.peakprosperity.com/blog/94051/making-sense-sudden-market-plunge
Excerpt:
"But that’s not the most concerning part about having broken markets. The most concerning thing centers on the fact that things that should never, ever happen in true markets are happening in todays “”markets”” all the time.
One measure of this is how many standard deviations (std dev) an event is away from the mean. For example, if the price of a financial asset moves an average of 1% per year, with a std dev of 0.25 %, then it would be slightly unusual for it to 2%, or 3%. However it would be highly unusual if it moved as much as 6% or 7%.
Statistics tells us that something that 3 std dev movements are very unlikely, having only a 0.1% chance of happening. By the time we get to 6 std devs, the chance is so small that what we’re measuring should only happen about once every 1.3 billion years. At 7 std dev, the chance jumps up to once every 3 billion years.
Why take it to such a ridiculous level? Because those sorts of events are happening all the time in our “”markets”” now... what happened was that our “”market”” structure is so distorted by computer trading algorithms, with volume so heavily distorted by their lighting-fast reflexes, that one of those ‘once in 3-billion years events’ resulted."
When is the next $UST unload by the Chinese...?
The answer is buy both and dont be greedy.
Hilarious, "Buy the Fucking Dip, you Idiot"
Or should I sell into the fucking rip?
Multibillion-dollar investment giant Goldman Sachs has a copycat in China.
Goldman Sachs (Shenzhen) Financial Leasing Co., operating in the southern boomtown of Shenzhen, next to Hong Kong, has an almost identical name to New York-based financial institution, Goldman Sachs Group Inc.
http://www.businessinsider.com/afp-chinas-latest-copycat-victim-goldman-...
Pretty hilraious.
This is the future of trading, the "economy" and frankly AI programmed by corporate interests.
Look the branding of Watson, M, Siri, Cordata, DeepMind, - WTF.
It's just a bunch of HFT wired up by time-zone and the quaint (quant) notion of opening and closing.
China has some trading desk in London.
The Fed has some buzzer in Belgium.
Virtu has one day of losses in 6 years - How many "sigma" is that?
The zillion-sigma market.
The Fed and its shareholders are just playing Wack-a-Mole in an after-hours arcade where management rigged all the machines to be played without quarters.
You might as well put a space suit on and inflate it with laughing gas because no amount of charts and opinions can describe what is happening.
Even the button pushers (ever-shrinking) don't know what they are doing, why or the result.
They should switch from FETs to tubes, much warmer feedback.
The big moves in US and China came in last hour. Yes, it's just a coincidence, heh, heh.
The trick, William Potter, is not minding that it hurts.
My favorite quote of all time.
Haven't seen anyone question whether ZH was an unwitting tool or was complicit in the setting of this trap.
6 Sigma's my ass; I passed 3 guys on the street today who were 6"11". Regarding that move in crude oil; somebody check the office building where one D. Gartman resides and see if any windows are out near the roof. Timing "IS" everything Dennis.
www.traderzoo.mobi
This Far Side cartoon sums it up nicely
Ha, seems to happen when the predators are winning.
The move in crude had no gaps and squeezed the shit out of the fools who have been lapping up the drivel about oversupply and Iran gonna bring millions of barrels per day to the market and KSA rasing production but no one mentioned, not exports. Whatever the data that said the financial media were lying about oil in the clips, it wasn't stated or it was spun negatively. But too bad so sad if you were short oil. They got the retail shorts to pile on with that big move down on Monday. I just bought more USO down there and it paid off handsomely. I booked nearly $1/share on USO this morning and still have 2/3 of my position in the money. Of course the change in the price at the wellhead is helpful but I need to get another $16 back there at least.
We also made headway on the GOR, it's now 26.3 with gold at 1125. If gold gets back to 1150 and we get back to a 19-20 GOR as we had this summer then we need oil at 57 or so. Neither is unreasonable in the next couple of weeks.
The scare part is worrying what they were doing before the Volatility became their business again.
This week is a Trading Week.
But you know they want world domination, so what have they been up to all year long.
Bearish. Volatility means everyone was afraid this week.
Historical Annual Demand in GOLD TONS:
Global Demand, Coins/Bars, Central Banks, Total Everything
2005: 418, -663, 3,127,
2006: 430, -365, 3,096,
2007: 438, -484, 3,115,
2008: 918 -235, 3,777,
2009: 832, -34, 3,674,
2010: 1,202 80, 4,213,
2011: 1,493, 481, 4,728,
2012: 1,300, 569, 4,690,
2013: 1,702, 626, 4,436,
2014: 1,004, 588, 4,212,
- 2015 American Buffalo Bullion sales by oz
January, 34,500
February, 12,000
March, 9,500
April, 10,000
May, 9,500
June, 21,000
July, 32,000
August, 16,500
http://www.usmint.gov/about_the_mint/index.cfm?action=PreciousMetals&typ...
- 2015 American Gold Eagle Sales by OZ:
January, 81,000
February, 18,500
March, 46,500
April, 29,500
May, 21,500
June, 76,000
July, 170,000
August, 77,500
Total Gold Eagles 2015 = 520,500 oz (partial)
Total Gold Eagles 2014 = 524,500 oz
Total Gold Eagles 2013 = 856,500 oz
Total Gold Eagles 2012 = 753,000 oz
Total Gold Eagles 2011 = 1,000,000 oz (looks like sellout)
Total Gold Eagles 2010 = 1,220,500 oz
Total Gold Eagles 2009 = 1,435,000 oz
Total Gold Eagles 2008 = 860,500 oz
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2015 American Silver Eagle Sales by OZ:
January, 5,520,000
February, 3,022,000
March, 3,519,000
April, 2,851,500
May, 2,023,500
June, 4,840,000
July, 5,529,000
August, 4,180,000
Total Silver Eagles 2015 = 31,495,000 oz
Total Silver Eagles 2014 = 44,006,000 oz
Total Silver Eagles 2013 = 42,675,000 oz
Total Silver Eagles 2012 = 33,742,500 oz
Total Silver Eagles 2011 = 39,868,500 oz
Total Silver Eagles 2010 = 34,662,500 oz
Total Silver Eagles 2009 = 38,766,500 oz
Total Silver Eagles 2008 = 19,583,500 oz
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Why is everyone so rough on TPTB? Stock and bond markets are all they've got.
Friday and Monday took out Retail
Wed & Thursday took out the shorts.
Thanks to PPT at 3 to reverse that nasty down draft.
If you have nerves of steel, a fortune could be made this past week. One SPY Put option I was watching went from 22 cents to over 10 $.
And wowsers on oil tiday. Up 10 freaking percent. Shoulda boght some UWTI on Monday.
I love that buy the fucking dip video - always LMFAO.
I'm more bearish long term than all of you combined and I went long yesterday and doubled down today. If you trade anything at all and didn't go long the last 2 days...please stop. They have got to push this right up to new highs at 2138 when the Fed meets in September. It's the last Fib impediment from this entire move since 666. They will put it there and if the Fed decides to move they will crash the market...if not (which it will be) we go on to 2400 before there is any resistence. But we will be in the 2130s when the announcement comes