This page has been archived and commenting is disabled.
With Bonds Away, Algos Will Play: Stocks & Silver Slide As Crude & Credit Crumble
As copper, crude, and credit crash, market internals collapse, and global economic data swirls the great toilet of Keynesian pump-priming... stock investors want to hear just one thing from the world's central bankers...
Trading stocks today was as easy as '123'...
* * *
Overnight excitement after crappy Japan Tankan survey data (recession looms) and China Industrial Production means 'moar stimulus' was sold hard at the US Open, bounce on Europe's close...
Depite best efforts, everything ended the day red with small caps the laggards (now closing back below the 100DMA)
The Dow is clinging to unchanged post-FOMC as Small Caps and Trannies remain positive...
Macy's outlook cemented opinion on the weakness of the consumer and retail stocks extended losses...
AAPL fell for the 5th of the last 6 days - closing below the 100DMA for 2nd day in a row...
Big volume spikes in VXX at 1540 today...
Treasury cash market was closed but futures were open...30Y and 5Y ended flat but 10Y implied a 1.5bps yield rise (a little odd given the weakness in stocks)...
Corporate bond markets were also closed for Veterans Day, but that never stopped the selling from continuing...HYG down 6 days in a row...
The USDollar followed the same pattern - higher in Asia/Europe, lower in US - as Cable surged after a decent jobs print prompted expectations for a rate hike...
And the Dollar difted lower against Asian FX...
Commodities all slipped lower on the day with silver and crude the worst hit...(seeimgly glued together)
Silver is now down 8 days in a row... to its lowest since August
Finally, crude carnaged to the lowest levels since the end of August...
And Oil Volatility and the Oil ETF have recoupled from that August divergence...
Charts: Bloomberg
Bonus Chart: This won't last...
»
- 233 reads
- Printer-friendly version
- Send to friend
- advertisements -
Senate Votes to Allow Veterans to Use State Medical Marijuana Programs, On Veterans Day Eve
Dr. Strangelove has a secret plan.........
off topic
War chatter from around the world has been quite
what gives?
"Silver Slide"
hot damn! bought 160 oz yesterday but may accelerate it now that the "those who can afford to lose it" trial baloon's been floated for fdic by a frakin' REPUBLICAN potus candidate! I know everyone along the supply chain can steal from me w/impunity from money markets upward but to openly state they can steal my CHECKING(/savings/cd[s])?!? (yeah, I know that's not exactly news but for a potus candidate - a REPUBLICAN one - to say it that plainly/openly?!? holy s___ have we crossed the event horizon!!!)
Has anyone heard a peep from any of the coinheads who were crowing and positively orgasmic about Bitcoin breaking $500 last week, and on it's way to dominate the world?
Oh WAIT, now it's at $300, oops. World domination will have to wait a wee bit longer.
better put some viagra on that hyg
Give each Iraq War Veteran 1 barrel of crude.
1oz Silver American Eagles €12 @ EurGold
https://www.eurgold.eu/silver/silver-coins/american-eagle-1oz-silver-coi...
Yes!! Keep slamming silver PLEASE, PLEASE, PLEASE!