This page has been archived and commenting is disabled.
Yen-Driven Buying-Panic Lifts Stocks Green Amid "The Most Aggresssive Buying I Have Ever Seen"
Ignore the fact that today's jobs data printed below the lowest of all economists' estimates, and just buy... because USDJPY is surging.
BTFD...
On the heels of a huge short squeeze...
And here's the fun-durr-mental driver...
Spot The Difference.
We leave it to Nanex to sum it all up....
the most aggressive buying I have ever seen in eMini $ES_F
— Eric Scott Hunsader (@nanexllc) October 2, 2015
Charts: Bloomberg
»
- 17228 reads
- Printer-friendly version
- Send to friend
- advertisements -
Is this February 2 or October 2?
I'm gonna check on that groundhog...
It's all Bullshit!!!
The shitshow shall not end until no shit remains to throw at it
PPT is the buyer in charge today as per usual.
So BTFD is back in play now....yyeeppeee
That's what happens when algorithmic trading programs are in charge.
I think I'm going to try and move to Costa Rica or something....
I'm so so so sick of this fucking country! It's total bullshit!
Make sure you visit first!
and yes the serial downer just had to chime in...
fucking pussy...
What?
Come on down...could use some ZH neighbors....
This reminds me of the Chinese stock market. They have done wonders with reversing down moves.
great 2 fucking days in a row these criminal fucking banksters have turned a sharp down day into a green fucking day.
makes so much fucking sense, i mean its not like the worst fucking jobs report was reported today, or the labor participation rate is at an all time low, o wait it is, never fucking mind.
this shit never happens on up days, but i guess fucking ''investors'' wanted to fucking buy this dip with everything so fucking rosy in the world.
and now the Dow is surging...
i mean how fucking absurd r they gonna make this shit...
the United States of Ameridumb...
a complete fucking joke........
I recall the first time I saw the 3:30 ramp. July of 2010. Every day for a month before the Bernak did his 'jackson' hole job. The times change i.e. gold at 2 am or 8:30 am. minis at 10:30 or at the European close. Its all good I love when my counter party has to invest and I don't. And if the idea hasn't struck you yet, the end game will include a Law of Physics type event leading to supply chain disruption. The markets crash will either set that up or crash becuase of it and it dosn't matter. The FED and the master of the Universe will rush to save us by issuing vast amounts debt (and our future production) and helecopter money. Yield will go to JGB levels on the 10yr and the markets will soar and soar like a Venniswalan Condor it will never go down again. However the price will be the dollar being outted as a Zimbobwayan trangender currency, whos only hope is to land a reality show deal on TLC. My guess less than 18 months for the above, which is only phase one. Next phase population reduction and resource consolidation aka ww3
On another note, what ever happened to the Greek catastrophe...?
Seems nothing is really a crisis these days...
Dismal payrolls report equals a move closer to QE4. The fed put is still in play in the 'minds' of the algorithms.
im not infront of a tv now, but i can only fucking imagine the smile on fucking bob pisanis fucking face now at this turnaround, but of course he wont mention the fucking ppt or anything like that, its ''retail investors'' of course buying
more money printed out of thin air and backed by nothing other than public perception buying real assets for zombie banks and their ilk I really cant get that exited the US has sanctioned for 7 years now a bunch of people that should of been dropped through a trap door with a rope around their neck,you may as well revoke your second amendment rights as its obvious you'll never use it for its intended purpose.
If the peasants ever get restless they'll just shutdown the grid and the rats will be stranded. No food or water. Research Katrina and/or Sandy.
How long do you think it would take to walk to D.C. or Wall Street while fending off all the criminals along the way.
Time for the classic BTFD vid.
https://www.youtube.com/watch?v=0akBdQa55b4
The fucking talking heads are yukking it up!
Turns back at Nymex close.
Sell Yen, Buy US Stocks. This is the play, until it isn't.
Keep going fuckers. The worst kind of joke will be on you in the end.
Tonight, tell your hooker that you did "gods work".
So much fun to be long on that short squeeze, leaving the office early today, b in the Hamptons for lunch, beautiful weekend ahead to party down, get ready for Monday's 'secret' phone call, for what time to jump in, beautiful...
ARGGGGGHHHHHHHHHH F*** you PPT.
Do you see what happens Larry?
well why not just take the fucking Dow up 500 points on the great jobs data....
FUCK OFF .......
http://www.marketwatch.com/investing/index/DJIA
It's so easy to manipulate markets when you can print money at will. Plunge Protection Team powers - Activate!
Can I get an Amen?
I SAYS CAN I GET AN AMEN!!!
Hallelujah JESUS ALMIGHTY!!!
The Lloyd Giveth and the Lloyd taketh away
How the hell are the fed shills on tv going to explain this reversal?
Why do you think they need to—or ever—"explain" anything?
God and the Fed work in mysterious ways. That's all you need to know.
Aggressive?
What does that mean?
I sure am glad nobody feels like selling today.
But what is the fundamental driver of the fundamental driver? Is this a standard carry trade phenomenon in the currency markets themselves (i.e. someone agressively selling yen and buying dollars), or is it something else?
I would guess this is being driven by the global liquidity bottleneck, and that the levitating stock market, far from being a wealth-effect psy-op stage-managed by the PPT and the Fed, is actually reacting appropriately to the dismal jobs data. It's a complicated piece of "bad news is good news is bad news." The terrible jobs print indicates a contracting economy, full stop. That's the first leg of bad news. At any point during the past few years this would have set the stage for expectations of more QE, and that alone would have spurred the stock indices. However, the failure to raise rates at the last FOMC meeting has rendered the Fed powerless. Janet Yellen has already lost the "rational expectations" game, and the market doesn't care about QE anymore. Now the market pays attention to liquidity issues (which are really collateral issues and exit window issues). The "strong dollar" is precipitating a slaughter in EM currencies, yuan, and yen. That has the side effect of boosting US equities, which is the second leg of so-called good news. But that piece of good news is really bad news (the third leg) because all it indicates is a mad rush to remain liquid and to hang on to some form of quality collateral amid a bourgeoning deflationary collapse.
In short, this is not really good news for stocks or the economy, nor is it "manipulation." The stock market is just the flotsam propelled along before the dollar tide.
Fucking title reads like Dr. Suess.
Look at volume in the DOW today. LMFAO! I can't imagine the S& Pee is any better.
Prev. Close16,272.01 Volume55,273,068 Day's Range16,013.66 - 16,370.96 Open16,258.25 Average Vol. (3m)117,328,734 52 wk Range15370.33 - 18351.36 1-Year Return-3.17%http://www.reuters.com/article/2015/10/02/us-usa-fed-stability-idUSKCN0R...
Prick asset bubbles with rates? Fed officials split
BOSTON | By Jonathan Spicer
The question of whether the Federal Reserve should adjust interest rates to deflate risky financial market bubbles split some top Fed policymakers on Friday, suggesting the controversial idea is re-emerging as the U.S. central bank approaches an historic policy tightening.
Giving the central bank an effective third mandate - beyond its formal objectives for inflation and employment - has won more adherents since the 2007-2009 financial crisis, which some blame in part on too-easy monetary policy in the preceding years that allowed risks to take root.
As the Fed approaches its first rate hike in nearly a decade, one reason to act sooner than later is to head off any brewing instabilities in risky corners of financial markets such as leveraged loans, high-yield debt and even automobile lending.
So far the Fed's approach has been to use financial regulations and supervision of banks and other firms - so-called macroprudential tools - to head off any emerging risks. Monetary policy has focused on achieving the goals of 2-percent inflation and maximum stable employment.
But Fed officials discuss financial stability quite frequently in their meetings and those discussions already do influence policy decisions, according to a paper co-authored by Boston Fed President Eric Rosengren.
"There are reasons to believe that financial stability should be an explicit consideration of monetary policymakers," concluded the paper, published Friday at a Boston Fed conference attended by central bankers from around the world.
Rosengren, among the dovish Fed officials who prefers to keep rates low to boost employment, called the research "an initial foray into this area ... but it does capture I think the way we seem to behave."
The paper was based on the number of times Fed officials mentioned terms related to financial stability in policy meetings from 1987 through 2009, which is the latest year for which transcripts are available.
References spiked in the late-1990s technology bubble and again in the recent crisis, it found, with for example "stock market" referenced 1,210 times in that time frame, "bust" 982 times, "volatility" 853 times, and "froth" 30 times.
Concerns about possible bubbles in the financial system have increasingly come to the foreground as policymakers consider when to begin raising rates after nearly seven years near zero, with Fed Chair Janet Yellen and most others predicting the move will happen later this year.
Yellen and others have publicly worried that keeping borrowing costs too low for too long can fuel too much risk-taking by investors and possibly destabilize the economy.
However Narayana Kocherlakota, another dove and the head of the Minneapolis Fed, came out strongly against adding the goal of stabilizing the financial system to the U.S. central bank's list of duties, saying that doing so would add to existing public uncertainty over the Fed's existing two goals.
"Adding a financial stability mandate would likely generate more public uncertainty about policy choices and economic outcomes," Kocherlakota told the conference in response to the paper.
The Fed should only be concerned about financial stability to the extent that it affects its ability to reach its other two goals, which are enshrined in U.S. law.
The Fed should be clearer about its existing goals, and should promise to calibrate policy so that it can reach its inflation goal within two years, he said, adding it would need to ease - not tighten - policy to reach such a deadline.
Cleveland Fed President Loretta Mester, also in Boston, cautioned that monetary and macroprudential policy discussions should probably be separated to protect the central bank's cherished independence.
"If effective monetary policy means taking away the punch bowl just as the party gets going, then effective financial stability policy might mean taking away the punch bowl before the guests have even arrived because the risks to financial stability build up over time and action likely needs to be taken earlier in order to be effective," she said.
While the Fed is bound by the 2010 Dodd-Frank financial reform law to defend against risks to the financial system as a whole, it has generally interpreted that to mean directly supervising banks and other financial institutions, and writing tougher rules on things like capital standards.
Randall Kroszner, who was a Fed governor during the crisis, said the central bank is still struggling to figure out its new role of ensuring financial stability.
"We don't want to have central banks to prevent risk-taking from occurring," he said. "It's a much trickier issue."
USDJPY tagged the bottom of a channel that dates back to 2012. If it drops below, the yen carry trade goes kaput, and with it SPX.
http://pebblewriter.com/better-late-than-never-2/
This follows Tuesday's tag by NKD of a key support level, below which is also incredibly dangerous for the carry trade and SPX.
http://pebblewriter.com/update-on-nkd-sep-28-2015/
In other words, this is a critical point for trillions in assets whose value depends on the yen getting cheaper. If the BoJ doesn't act soon, we're looking at another 2011 or even 2008-style meltdown.
If all goes as planned, this foolishness will come to an abrupt halt just after the next president takes office.
buy buy buy!
we going vertical
The last time I heard that on a Friday, it was immediately translated into bye, bye, bye the following Monday.