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Yellen's Hawkish Hangover Leaves Bonds & Bullion Bruised & Stocks Steady
This won't end well...
* * *
First things first, The Fed managed to convince the market - despite the collapse of fundamentals - that it will hike in December...December odds the highest they have ever been...
Having dumped the post-FOMC gains early on, stocks bounced modestly... then acelerated in the last 20 minutes before last minute selling...
But in the day only Trannies ended green (as a late ramp failed)
All thanks to a VIX-crushing ramping S&P into the green...
Though a notable VIX decouple..
But bonds, gold, and crude are all red post-FOMC
And on the week...Small Caps unch, Trannies biggest losers...
Trannies outperformed (and did it again against crude)...pushing up to the 100DMA
Financials continue to bounce (but credit remains ominously weak)...
But Camera-on-a-stick crashed to record lows...
And Valeant had another tough day...
Credit markets decoupled from equities today...
With VXX trading in a very narrow range today...
But Treasury yields played catch up to stocks...
As the entire curve shot up today (with the long-end underperforming 2Y +2bps, 30Y +8bps)
The USDollar gave back some of its hawkish Fed gains...AUD continues to get slammed as EUR rallied back somewhat...
And The Dollar slipped back against Asian FX also (but remains notably stronger post FOMC)
Commodities were very mixed today...
With crude dump and pumping (run stops) and dumping...
And Nattie making new cycle lows...
Charts: Bloomberg
Bonus Chart: "Data-Dependent" Fed...
— Not Jim Cramer (@Not_Jim_Cramer) October 29, 2015
Bonus Bonus Chart: The Bulls Are Back In Town...
AAII Blog: Optimism among individual investors is above 40% for the first time 35 weeks. https://t.co/hIzEhrm4Mj pic.twitter.com/eMfv5Y75ED
— Charles Rotblut, CFA (@CharlesRAAII) October 29, 2015
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so let me get this shit straight…
the day after the Fed says “we’re fucked” and the US GDP goes nowhere the Fucking Dow does the “slow grind” all day long trying to close in the green in the last 15 minutes but succumbs to a DEVASTATING 20 point loss on the day….
meanwhile in the same time frame some MYSTERIOUS SELLERS decide that all debt based currencies being hurled towards worthlessness is the perfect time to SELL Gold and Silver they don’t have while China, India, and those “evil”
Russians continue to buy all they can get their hands on????
whats that thing about SUPPLY and DEMAND they said constitutes economics 101????
FUCK OFF.
MSM would like to you believe miners are being forced to buy it back and bury it again.
C'mon Kaiser, you been around long enough to know:
Dollar rally = PMs crushed
Dollar trade sideways = PMs crushed
Dollar Tanks = PMs rally all day but sold off in last 15 min to end red.
Stupid but simple. Trade accordingly
i dont trade...
but id did buy some more Gold today...
many thanks to those wall st. fucks and banker bitches...
DEATH TO THE MONEYCHANGERS.
Thats correct.
basicallly if the ''market'' goes up like 200 pts, the next day is flat.
However if god forbid the ''market'' finishes down say triple digits, those losses are always wiped away immediatley the following morning.
basically this shit is so fucking rigged and so blatant by now, these ppl need to be send to the gallows to be hanged right this fucking minute.
why waste rope...
im for stoning these mother fuckers.........
How about Pet Rocking them?
Who cares ? All that Venezuela gold hitting the market should drop the price a few hundred an ounce so you can load up with hard asset value.
Turn that frown upside down !
The cup is actually half full !
Does anyone else feel like they are Living the movie "groundhog day" For REAL?
this shit is getting SO FUCKING OLD!
The fed is not going to raise rates.
But lets say that they did raise the rates a piddly 0.25% and the stawk market shit it's pants a little.
They could/would reverse course on a dime, go back to 0 and say the fundamentals were not as strong as they thought,(need MOAR data).
Then move right on into NIRP!
These asshols love jerking people around, so some shit like that would come as no suprise to me!
Well you have to give the assholes credit. They have done nothing but kick the can, with only fraudulent words and have made it thru 5/6 of 2015 with their Ponzi still intact. May Yellen choke to death on national TV.
May Yellen STROKE to death on national TV.
Fixed it for yah.
You know I can't believe it, the Fed and their cabalist insider-trading cronies didn't engineer another artificial equity short squeeze at the end of the day today.
Maybe they figured that it is finally time to dump, since they have conned the individual investors into one more BFTD cycle, and they realize that the Fed has abused its way to irrelevance.
We can always hope.
I'm still trying to figure out where @4million IWM shares disappeared to...maybe Kevin at the FED has an explanation? Speak up you little fucker...inquiring minds want to know.
Hey Tylers, why don't you tell us all where those 4 million shares between yesterdays close and today vanished to...you have Nanex to ping...us plebs are mere mortals
Tyler Durden...please inform us of where more than 1/2 billion in IWM vanished to over night??? You have tools...let us plebes know
Guess Fight Club is a farce
HEY TYLERs CAN YOU ANSWER THE QUESTION YES OR NO??? IF NOT...then maybe there is something amis here.
There has not been a profit raping Friday Since September 18th; so it is way overdue. As soon as one identifies a pattern, then by the time you recognize it; so has everyone else and the cabal squeezes you.
LOL. When you totally manipulate a market you don't have to convince it of anything. You just have to convince the sheep that your big lie is not big lie and you can then continue to rob them.
IWM Algo_1: “3rd day of >1% Russell performance delta versus other indices, flipping direction each day – what’s goin’ on?"
IWM Algo_2: “Gotta be two different HFTs doin’ the odd/even tango again”
IWM Algo_3: “But … every time this happened it eventually resolved in a hellacious move, I wonder which direction?”
IWM Algo_1: “Up, of course”
IWM Algo_2: “No, this dog is goin’ down, big time!”
IWM Algo_3: {rolls his eyes} ”Well, seems we now know who’s behind it (idiots!)"
IWM Algo_1: “ Wait – I thought Citadel agreed to mirror our moves at Goldman, after Blankfein called Griffin on his hotline (?)”
IWM Algo_2: “What!? Ah ... what do you think happens when Griffin’s secretary say’s ‘Hey Ken, it’s Satan again on line #2’ ?”
IWM Algo_1: “Er, heh-heh, guess you’ve got a point there …”
No spoon motherfuckers, period. Gamble if you like, but recognize it for what it really is.
Recall the "court packing plan" by arch statist and liar FDR?
Well, goddamnit we need a Fed packing plan.
Lets pack it with people who have successfully run businesses, from mom and pop candy stores to multinational conglomerates.
Because these fucking academics - are worse than useless. And their rhetoric...
If you know physics, you know what is meant by "not even wrong"
These folks are not even wrong.
Come on bears..the bulls are trapped and on the ropes...finish them you scrawny, starving and out numbered mangy mutts.Charge the fields you pussies. LMFAO
https://www.youtube.com/watch?v=umhDCtOoJZ0
Yep, time to storm the barricades (nice video :) )
Got another 1% today from TZA, JMF, but it was a “hard labor camp” kinda day, slowly building a large position from 11-1, then getting out in one second near 2:00, like a parachutist pullin’ his cord. Had my stop halfway between noon TNA bar’s high and Unch, as I felt that if Unch was breached after the below-Unch wick on the second HRLY candle gave us that lower high, then we’d be seeing 78 by noon.
Still, two TZA profits in the same week, gotta be a sign of things to come, keep your leverage goin’ ...
(My groovy new method teak kept me from pushing it past 2 on the short side. Thanks for your kind words of encouragement yesterday.)
Good deal KCS, glad your new stratagem is working out (say that cause it is probably highly pluralistic). GL KCS... I just need a sub 69 close.....what's a girl gottea do these days to get head...I mean ahead...LOL. One day at a time I guess. These fuckers drop us sub 66 by the close on Friday I'll change my tune, until then, I'm wearing tin foil
Spring the bull trap already! Spring it!
I bet Jim Sinclair's hoping for something like a nuke exchange in the next 60 days so he can salvage what little repustation he has left. His latest protege Bill Hotler is looking like Bo Polny II.
And what about Maguire's "giant silver short squeeze in 4Q?" Well, 4Q2 Andy!
I am not religious about gold. I consider physical gold an essential holding only because the central banks own vast hoards of gold while telling ordinary people gold is stupid because it pays no interest...oh, wait. Guess they'll have to revise that little propaganda meme now that cash pays less than nothing.
The idea that holding gold is stupid is a manifestly philosphically incontinent position. If the IMF holds gold to the tune of a hundred billion dollars, I want to hold some gold. Otherwise, consider this...
I am not incapable of selling my gold. I bought low in the early 2000's and sold high in 2011-12. However, and this is a key point, I did not sell *all* of my gold. I merely rebalanced my portfolio. Moreover, I did not leave all of the proceeds of my gold sales in cash. I reinvested it.
Point being, if that dreaded hyperinflation that goldbugs fear ever shows up, the biggest risk will be selling on the way up and being all in cash when the cash becomes utterly worthless. So, plan for that scenario. That's what investing is all about, you see. Planning for various scenarios...whatever happens, you should be able to quickly adapt if you've planned well enough and diversified your holdings.
And have a plan for when your plans go wrong, because they will...trust me.
+1
I also sold gold, admittedly just prior to the highs, maybe 3-6 months too early, moving the proceeds to numisimatic modern Chinese silver. Since gold crashed I've been a buyer again, on a cost averaging basis. So, the longer gold remains "low", the more I'll keep repurchasing. If it goes lower I'll just be getting more for my money.