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Stocks Melt-Up To Dot-Com Highs Amid Decouplings, Divergences, & Fun-Durr-Mentals
Dismal data this morning (ISM headline 3 year lows, ISM employment 6 year lows, construction spending growth weakened along with Atlanta Fed growth forecasts collapsing... but December rate-hike odds rose to 52.0%...
and stocks soared.. Nasdaq reaches Dot-Com highs...
Because...
But the day was full of decouplings and divergences...
The Energy sector led S&P stocks higher... which seems odd...
Credit markets broke away from stocks at the European close...but then broke higher as S&P panic-buying sent it through 2100...
Bonds and Stocks entirely decoupled after Europe closed...
VIX decoupled from stocks as they broke the key technicals...
Trannies once again decoupled from oil prices...
Major divergence between Nasdaq 100 and Nasdaq Composite...
Breadth is collapsing in Nasdaq (as cap weight dominates equal weight)...
Futures markets how the crazy swings of the last few days best...not Futures were ramped to unchange for the US open...
And stocks never looked back...
Energy led the market higher (despite lower oil)
* * *
Away from stocks, Treasury yields rose 3-4bps...
The USDollar gave up early gains intop the European close then rallied to close 0.2% higher by the close...
Commodities quietly ignored equity exuberances and drifted lower with crude down 1%...
Charts: Bloomberg
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And I lost my ass today...
To infinity and beyond...along with my sanity
Stawks go up like helium and metals sink to lake bottoms... Duh....
me too
Seriously, you were wagering against the all-powerful Maniacal Monetizers? Holy shit.
No, I have no interest in this game monetarily, I just want it to collapse
Sports betting is more fun. Hell, if you're serious (and find a way to place the bets) you can hedge fixed odds way better than floating prices.
[NoDebt takes a drag on his smoke] That was good for me. Was that good for you? I'll call you later.
Do call. With the test results.
BWA HAHAHA. BWA HAHAHAHAHAHA!
The first time I got laid AIDS didn't exist yet.
Meet kenboy.
But The Clap and everything else did.
Me too. Ruined the party... looked like it was really gonna take off. :(
Well we've seen they'll certainly never allow stocks to go down again, so up it is! To infinity! And beyooonnnndd!
Having just pulled the plug on my last stock or bond market position, ever, I have to tell you that it is wonderful not to care. Like I said, cash and gold are all I'll hold for the duration of my life. If gold tracks lower, I'll trade cash for gold. If gold goes up, I'll shift the balance in the other direction. Nice and simple, just the ticket.
Wall Street will not be missed...
It's not that I care; it's that I want to watch the world burn. We've been in the age of decadence for far too long - time for decline and collapse.
I'd like to see a (mostly) post-scarcity world where we don't have to give a sheik any money for energy or a Han 50 cents for our electronics. I honestly don't think that will happen without collapse; we're too stuck (read "manipulated") in our ways to have a massive market shift.
About time the Bears had a damn good picnic...
Perhaps Deutsche Bank can sponsor the picnic basket...
Tyler Durden can say "panic buying", "fun durr mentals" and moar as much as he wants. markets went up and will go up. stop trying to fool everyone.
welcome to Valhalla! Have some mead!
They'll go up, until they don't. In general I agree but the 7 year trend is too scary to buy right now.
Liesman??
"markets went up and will go up. stop trying to fool everyone."
Spoken like an ignorant sheep; the ones to be sheared at the next selloff.
Markets my arse.
I think Tyler is spot on.... Markets no longer truly exist in my eyes. So long as the powers that be 'target prices' officially and unofficially there is no true market. It's fixed.
It'll all consume itself one day, like a huge pile of cabbages at the market. King Cabbage dumped them on the market to keep cabbage prices low, but one can only eat so much cabbage. The cabbages are decomposing and it wreaks. No one will buy one of those cabbages any more. Cabbage prices have shot up, as no bastard else grew any cos King Cabbage ruled. Not any more though. The people are hungry and have killed the bastard.
Hmmm. Yep I've lost it....
I don't know that the manipulators have the spare resources sitting around to fight off a serious, coordinated, global market move. I would think market participants could, if they chose, awaken to move with intention like a vast buffalo herd wherever they want to. At least for a while, until a full-on, massive QE4 is unleashed against them.
And even then they could just dump the dollar and buy gold. It isn't like there aren't avenues for sanity to re-emerge and express itself even amidst widespread manipulation.
Be sure and have your DOW 18,000 cap at the ready.
The cap with the quick change numbers like an odometer, so it can roll right on up to 20,000 on it's way to 30,000!
The greatest shit show on earth has raised the curtain!
Extreme nutiness has arrived.
What's to stop the Federal Reserve from wiring unaudited electronic money to their primary dealer banks to buy stocks with?
http://literarydevices.net/rhetorical-question/
A rhetorical question may have an obvious answer but the questioner asks rhetorical questions to lay emphasis to the point.
I don't think they need to. Why bother to take any risk of being accused of impropriety when they can do whatever size amount they want in plain sight wrapped with some fancy sounding Keynesian mumbo-jumbo.
I've been saying all along on these boards that you can't short this massively manipulated market but now I am tempted to do exactly that. Everyone and their shoe shine boy are now convinced that this market will never be allowed to go down. That spells mania to me, and an opportunity to run to the other side of the boat.
I'll be taking short positions if today's gains are wiped out by the end of the week. I smell a reversal that will catch a lot by surprise.
From your mouth to god's ears... I am long VIX in a very leveraged way... need this to go tits up so I can quit my lousy corporate whore job and actually do something usefull and be a productive member of the society.
Don't know if you follow harmonic patterns, but SPX completed a Bat Pattern at 2104.21 today. It's 88.6% of the drop from 2134 in May to 1867 in August. This typically spells a reversal.
http://pebblewriter.com/learn/harmonics/bat-pattern/
I'll help you, because as soon as I went long it would drop 10% next market open for sure.
Assholes.
That is all.
As for the RUT IWM...a 2mill drop on OBV at close, whilst the entire daily run for the moon only saw a 2.3 mill delta from open....amazing, seems as if the manipulators like to go home flat on the day as well.
The only problem is that SPX melted right up to complete an 88.6% Fib retracement of its drop from 2134 to 1867 between May 20 - Aug 24. That, my friends, constitutes a Bat Pattern, which typically results in a reversal.
http://pebblewriter.com/ratcheting-stocks-higher/
Bonds, stocks, credit....everyone's now got a shit eating grin ear to ear. For fucks sakes.
Up and atom! McBain