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Stocks & Commodities Pumped, Bonds & Yen Dumped After Massive Chinese Intervention
Overheard in China last night...
It all started with China... after droppiong 100s of billion of Yuan to "stabilize" the market already, why not do some more...
On the lowest volume EVER!!!
Japanese stocks were utterly insane!!!
And everything lifted with it... FOR ANYONE WHO SAYS CHINA DOESN'T MATTER - YOU'RE WRONG!!
European and US stocks followed...
Trannies won the day overall but it was a one-way street after Europe closed. Dow closed +380 points!! (12 of the last 14 days triple digit change)
"Out Of Correction"
Note - Dow Futures back to the 50% Retracement level... and making lower highs...
VIX term structure remains in backwardation, VVIX (vol of vol) holding above 100, and VIX skew is extremely high..
Here is a thought though - BABA was a massive hedge fund hotel... so one wonders how much of this move today is covering Momo names and unwinding the index hedge against them...
NOTE that NFLX weakness weighed on the S&P (on concerns AAPL announces streaming video competition)
FANG is F##ked...
And GRUB snubbed to record lows as Amazon starts restaurant deliveries...
Crude & Copper soared, Silver also ripped, gold was flat...
NOTE - Brent Crude Implied Vol surged to 60 - its highest since 2009...
And USO and OVX remain nmotably decoupled after the month-end melt-up...
As Stocks and USDJPY danced together all night and all day... until tyhe last 30 when momo was ignited and stock were on ther own with VBIX
Dear BOJ: 120 needs a gentle nudge.
— zerohedge (@zerohedge) September 8, 2015
But The US Dollar ended the day modestly lower from Friday (with AUD and GBP strength countered by CHF and JPY weakness)...
Treasuries were dumped unceremoniously - though we do note that the calendar for corporate issuance is extremely heavy and the velocity of today's move suggests heavy rate-lock pressure...
This is the highest closing print for 30Y yields in 6 weeks - though remained below the crucial 3.00% level all day.
Copper was the big story of the day - rising 5.4% on the day - the most since May 2013 - and busting above its 50DMA after crashing following its break below in May...
Charts: Bloomberg
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markets....?
Hilarious.
Off the Manipulated highs!
Of the top 12 countries by GDP in the world, only French, Italian and German markets are positive YTD.
http://www.denk-bubbles.com/overview
This sucker will still go down. Even after todays "amazing" up-day...
They put a lot of pumping into the market today. Now to see how long they can keep it up....
"Trannies won the day overall." That should make Michele feel better.
Everyone is ghey and/or trannie now
More like complete and utter bullshit of the lowest order. Fucking ridiculous at this point.
Where's the clown vomiting rainbows?
Should be an interesting week.
And Gartman says sell strength so the rally will continue until his inevitable buy stocks call. I'm guessing Thursday. Way to put that Appalachian State education to work Denny.
So easy, even a Central Banker can do it!
Manipulation: It's what's for markets!
Where do we go from here??
Ask Mr. Yellen.
Detroit?
To hell in a handbasket.
He did say Detroit.
How about Halab or Damascus?
Its fun-dur-mentals
looking at the historical data there is no correlation whatsoever between Chinese and Wall Street markets yet 'hope'of a Chinese miracle pumps in 4 billion or so today,yeah right
“Trading Stocks At Night” from “Gardening at Night” by R. E. M.
I lost some money on the Floor I felt the market’s changed for all
The fleeting moves from 9 to 4 just didn’t seem to be too real
The market’s nothing but a farce, Sun servers churning SPY somewhere
There is no time for hesitance -- trading stocks at night has got to work
Trading stocks at night, trading stocks at night
Most traders go to bed at ten
Crank your Keurig for a change
The charts are changing every month
They say nights have the biggest gains
We mellowed out in garbage time but then saw bids from 2 to 4
It felt odd not to see the sun, trading stocks at night had a strange flow
I see the Russell find a floor, I felt the rocket flame and launch
Price ceiling broke through like glass doors that 12 hours prior were hard as steel
Trading stocks at night, trading stocks at night
Resisting says that you’re not young
Why not try it once or twice?
The tightest band since ‘51
They said we couldn’t break this range
As the last floor traders snore I felt the market pad the score
The price swing bark became a roar, the bid stack spike to green surreal
We mellowed out in garbage time but then went nuts from 2 to 4
We cashed out long before the sun, trading stocks at night was never slow
Trading stocks at night …
Shemirtah end on september 13 2015, but it's sunday.
Will the stock market crash on the last day of trade of
this 7 years of Shemitah?
And friday is 9/11 (Good date for a major crash and blame on someone)
And this friday, it will be the
6 years 6 month and 6th day since the
market bottom of 2009 march 06
Sorry Sir God has left the building all we have now is the Wizard of Oz and his Wall Street flying monkeys
I thought the super shemitah starts on Sept 13th not end.
But who knows what will fall. Mr buckaroo? IF bucky tanks then stocks might skyrocket to the blood moon and back. Too many dick mouths calling for market tanky, but like they would know.
No you're thinking of Super Bowl Shemitah.
Isn't that like the end of January, or maybe the beginning of February?
Jubilee starts which happens after the 7th shemitah
The communist party chiefs want a fed rate hike
So amazon wants to charge me $8 to deliver the meal that the guy on the bike will deliver for $3?
Its gotta be almost morning and I'm gonna wake up soon.
The bad news is, you'll wake up to the sound of Sonny & Cher, in a hotel room in Punxsutawney, PA. Calendar date: February 2.
THANK THE LORD FOR QE INFINITY!
BTFD MUPPETS!
:)
NOTE - Brent Crude Implied Vol surged to 60 - its highest since 2009
Get ready for a 7 year bull market. Instead of Greece it will be Italy that we'll have to hear about.
I guess I now am diversied as I own physical Gold and Silver and they never go up or down together for well over a month now. Absolutely crazy !!
IMO, absolutely nothing to do with China, in fact it’s more likely buying occurred there in anticipation of the US getting back on line with the standard mean reversion back toward the central 20 daily MA’s which has happened EVERY DAMN TIME volatility envelopes were breached then closed back within going back several years. Correlation does not equal causation. It’s also clear % volatility bands around key DMAs, especially the 200 (2.5, 5 & 10%), have marked recent touch-points for IWM, SPY, etc.
With Daily Stochastics rather high, the worry now for bears, given post-holiday volumes were rather low, is whether bulls can press up toward the next MA’s in line, triggering stops especially in the QQQs, before any return to correction lows.
next comes sell-off Weds...just following last weeks trend...move on,nuttin to see here.
The Yen will put an end to the party rather quickly. Nice one-off event for positioning though.
I can't wait to hear what Gartman has to say tomorrow.
Dead cat bounce. China reports horrible economic numbers, and then intervenes to prop their market. Europe and Wall Street are up on the "good news from China".
We're seeing the limits of central bank intervention however - China burned through over $100 billion in foreign reserves in the last few weeks and even Japan and Europe are starting to admit that if they continue QE to infinity they won't have a bond market left, not that its much of a market now (the bank will own them all).
When the stock market pops we'll see a fire sale and round of deflation while everyone covers their bad bets. When the bond bubble pops a short time later, we'll all wake up to find we're living in the Weimar Republic or Zimbabwe - and burning $100 bills to stay warm.
At least they'll have something to eat.
Totally agree. But how much time between deflation and (hyper)inflation. A week? A month? A year? 5 years?
At the end, it doesn't matter.
Just need to survive the deflationary collapse until hyperinflation "kicks in".
The Fed is playing a drinking shots contest with the PM's, were in the late rounds and they think they can still win:
https://www.youtube.com/watch?v=yUAueFkVYvA