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FedSpeak & Fireworks Day Leave Crude Crushed, Copper Clubbed, Stocks Soft, & Bonds Bruised
With The Fed now on 24 hours a day jawboning expectations up for a rate-hike in December (which has suddenly spooked assets) and Fireworks Day (Guy Fawkes may have been on to something after all) across the pond, stocks, bonds, and commodities all leaked lower ahead of tomorrow's "most important ever" payrolls...
Stocks started the day off with the usual pre-eopn ramp
With Trannies somehow outperforming today...
In spite of the collapse in crude...
S&P 2100 was once again all important... driven sending VXX to the low of the day...
Stocks were glued to USDJPY all day - especially after crude decoupled...
But there are 3 stocks worth noting before we leave the casino...
Valeant collapsed...
Herbalife ripped..
And Straight Path Communications...
Stocks started to catch down to credit...
And catching down to VIX (hedgers ahead of payrolls)...
Treasury yields continued to rise today (with the short-end underperforming)...the buy-sell-buy pattern continues
Leaving 2Y Yields at their highest since May 2010...
The US Dollar was almost perfectly unchanged today against the majors (with modest strength in EUR offset by weakness in Cable)...
Commodities contonued to slide despite the lack of movement in the dollar...
With crude giving up all the post-FOMC gains...
Charts: Bloomberg
Bonus Chart: A Gentle Reminder from earlier of the rollover in payrolls ahead of tomorrow...
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TPP Hell: Full Text of Trans Pacific Partnership Released
Confucius (pronounced “Confuse Us”) 490 BC: “You can’t predict the market ... because the market can predict you”
The same way precrime is predicted.
Stocks are now called soft, LOL. THey are doing quite fine. Stop lying.
Because the NFP numbers are not going to be completely fraudulent with all of the fear in D.C. over Trump and Carson.
Riiightt...
Fradulent or not, I'm sure the FED had the NFP numbers before they started all the talk on December liftoff. Unless of course, they are past the point of trying and are now just screwing with us.
You'll know they've run out of options keeping this pig afloat when the SHTF over Syria. One False Flag, comin' right up...
Bumped my gold position to 75% on the way to going all the way in on the long side in my trading account. It was sort of hard to buy into the weak close right in front of the next payroll report; gold has gotten slammed on the payroll news a number of times. Ah, well...that's what the 25% cash is for. By Monday, I expect to be fully loaded. No risk, no reward...no worries.
My prediction is the payroll numbers will be bad and the market will surge on the expectation that because the numbers are bad, the fed wont raise rates in December.
Could well be.
Then 'Ol Jack Yellen can trot his ugly ass out and say... We will hold rates at their current position until we recieve more data!
This crappy show should have lost all it's audience a long time ago.
Concur - there's some hiring going on for shit jobs for package wrappers and parking valets. That'll be enough to disguise the crushing losses in family wage jobs as per usual.
So it will be bad (as it has been for years), but it'll be swung as positive/slight negative to give the Fraud and the Yentil enough anal stretch to keep the lights on for 'possible Xmas rate hike' (whiich given we are headed for dogshit holiday season there is not a snowball's chance in hell they will do so).
However. Must. Keep. Charade. Going.
Even the holiday retail season is getting talked down, like how all of these retailers have finally "found a heart" and are closing for Black Friday.
YEA FUCKING RIGHT they "Found a heart" LOLZ
They know this holiday season is gonna be a bloodbath, so now when Black Friday weekend sales totally suck, they can say "Well many retailers were not open Black Friday as is tradition and the numbers were effected thusly"
Hey Andy, how's that 4Q silver squeeze goin' for ya?
Doc Copper's really in the shitter...not good.
Time for Vlad to nuke ISIS from one of his light missile crusiers over in the Caspian Sea