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"As If It Never Happened" - Stocks, Bonds, Gold Soar On Draghi "No Limits" Double-Speak
Sssh!!!!
Did Draghi just open the 'vault' and expose the reality that everything central bankers do is about the market!!??
The day started with jobs data... we've seen that pattern before...
But it was Draghi's comments that sparked the real idiocy in stocks.
Futures provide a little more clarity on what happened today... From the cliff-edge of the ECB statement, futures ramped to run stops...
Finally, on the week, it's as if it never happened for Nasdaq, S&P and Dow (while Small Caps and Trannies had a tough time) - Trannies worst week since Black Friday collapse
Ugly week for Energy stocks, but financials love a flatter curve?
But shorts were not squeezed...
FANGs dominated by NFLX...
While stocks loved Draghi's "no limits" speech... FX markets shrugged...
Stocks dropped with crude as OPEC hit... but then rallied magnificently...
And stocks ignored the bond market bid...
But The Dow (and S&P) is back in the green year-to-date... so Mission Accomplished!!
Quite a week... if you ignore the idiocy in stocks.
Treasury yields ended the week modestly higher (with 2s30s unch but the belly underperforming)...
The broad bond market has hit a 20-month low...
Mortgage bonds hit a 15-month low...
And high yield bonds are at the same level when Lehman hit...
FX markets were extremely volatile with Swissy and EUR best and JPY worst as the USD tumbled...
EURUSD's biggest weekly rise in over 7 months...
As a near-record net short position crushed every hedge fund...
Commodities were a mixed bag with crude clubbed (by the cartel), copper up and PMs jumped on weaker dollar and global uncertainty...
Gold and Crude seem linked at the throat...
Charts: Bloomberg
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More of the same shit, just different day.
When/if Mr. Yellen raises rates, the music will finally stop and then ww III will usher in the new boom. Pun intended, of course.
Surely we're looking at a bottom in gold and silver.
Teh world hangs on teh every word from an Italian banker?
"Stocks surge on jobs report"
That's the sheeple headline. It's a xmas weekend. Duh.
Get yer DOW 18k hats out, Santa Claus is coming!!!
We're at a bottom when the paper price hits zero. And don't call me Shirley.
Against stupidity the gods themselves contend in vain.
It's all Bullshit!!! 8 years of this shit. This is so fucking stupid ...it's way past just plain stupid.
i'm all in on a amzn short at 699
What? No bonus chart?
ZH do another on/off balance volume article because I wonder if that spread is a LOT larger now.
Very strange that Gold was allowed to go up and not clubbed down ...any ideas why?
possible qe weakens the dollar(the last salvation of this game of financial brinkmanship) so gold goes up on dollar valuation. the numbers just have to balance or at least look like it.
Printer jam - service man called.
Seriously...why should the FED stop now? Just give them a day or two to start the cycle over. We're just on the upside of the cycle for a while.
Breather between clubbings. Not unusual. Will probably reach 1090's before the beatings resume.
Wash and rinse (fix those stupid shorts ... then down it goes on Monday).
I've been educating myself by reading ZH for 3-ish years. I'd like to think I understand what/who/why all this is happening.
But looking at all those charts, with the WTF captions, I give up, and I just don't give a shit anymore.
I hope to see Draghi and Bernanke die from lead poisoning, or hanging from a lamp post. What these unelected, unaccountable, all-for-me and my bankster buddies assholes have done is criminal.
I've been here longer and you're not educating yourself.
The best thinkers have got bored or been thrown off ZH long ago.
Nowadays the only people here who can write more than a paragraph are crazies or preppers.
Much of what you read is churned out by people backed by the ads you see littering the site.
Its a good site for news but dont make any big financial decisions on info you see here.
The market can remain irrational longer than u can stay solvent.
Disagree.
Disagree.
Disagree.
Disagree.
Disagree.
Agree.
(Way to not churn out a paragraph, or you'd be a crazy prepper.)
You'd make financial decisions on what you read here?
Well dont mention silver to a lot of people here - me included - i only bought a few kilos nowhere near the peak but some folks got burnt. Mainly thanks to here i'm sorry to tell ya
Duke, the game's not over. I'm sorry you got burned, but I believe if you're holding silver later, you'll be glad it's on hand.
Asshole.
- educated crazy prepper
Dumbfuck cunt.
Illustrates the point perfectly.
Jeez can they squeeze any more ads on this screen?
Just algos running wild. Ad Block is your friend.
asshole
- another educated crazy prepper... fuck off
You forgot the VIX clubbing today....
370 points on the fucking Dow...
fucking hilarious...
truly a "bananna in the tailpipe" republic nation.....
42 points on the S&P
Complete roundtrip and then some from yesterday.
Living beings don't react this way. Nobody with a heartbeat changes their strategy on the whim and based on the quivering lips of a central banker.
Machines and CBs are painting the tapes any which way they want and everyone else is losing even when they're not playing.
Gartman does.
I said with a heartbeat, didn't I?
Tyler’s “shorts were not squeezed” is perhaps a proxy for the Russell perf today being less than half that of its larger index brethren, stopped squarely in its tracks on the retrace to the 20DMA which, given Daily technicals (whose reliability is admittedly not as great this time of year), keeps hope alive for those thinking the post-Draghi, pre-Liftoff trade could include a break back toward August lows.
Despite lofty levels, Monthly charts look bizarre (i.e., fund mgrs more uncertain than ever), perched on the brink, one false move lower (especially in IWM) would turn them decidedly negative for the first time since 2008. (Not a prediction, just setting the stage …)
looks like a classic rollover. it is hard to say if anyone will take taxed profit or set up for the new year early before the end of the year but january looks fn brutal if this is the real thing. it really sucks when a person can't be confident in old school setups.
Regarding classic setups, as a 70s band once sang “I’m never going back to my old school.” But is it any wonder? With two major central banks hinting (but not yet finalizing) moves in opposite directions, while photocopied monthly JOBS figures alternate with recessionary econ data, domestic and int’l terrorism news and new ‘cyber’ retail holiday paradigms, it’s a wonder we don’t hit both “all time” highs and lows in a single session. Still, if our nanny-state leaders get off Zero, then I’m hoping 2016 is at least tradable, as I believe QE screws up charts much more than a low trajectory rate path will, given the Economic Calendar lists Fed-Head speakers, allowing you to stay in cash while they’re blathering.
Firmly believe choosing the 8 or so days per month to trade w/ full positions, while abstaining or scalping the others, will be the key for the foreseeable future. Days to omit include month-end, OPEX, first day of month, 2 days before FOMC meeting, 3-5 days before any Yellen speech, 2 days before/after any holiday, etc. Yes, you can guess the direction on those “untradeable” days, but veering from whatever system you normally use will do more harm than good. Catch up on reading or music instead …
i'm old enough now to tell stories about the days when people traded and numbers meant something. it reminds me of the old guys hanging around the stove in the general store when i was a kid. now you have to figure out the algo trading whatever you're trading and beware of of computer glitches instead of bear raids. there is a whole generation of traders who have no idea of the old days. it was more fun with people but much easier with the bots.
ok, again, i ask did u BTFD? no apologies this time...
what a fucking joke, lol'g.
ps. paper gold slam coming.
So .25% on Dec 16th is done deal than? Right?
I mean what possible rational could they use to not hike.
Labor (busslhit - boxed on their own lies) - check.
Equities (if they levitate any further they will leave the earth) - check.
Q Growth (blocked again on their own lies) - check.
So short of a really hot war or civil unrest they are done out of excuses. Checkmate.
No doubt gravity will soon reverse, too. Upside down world...
No limits, huh? Does he realize that by saying that he is actually revealing how truly worthless all that money IS?
If there ARE no limits, and one can simply up the ante indefinitely, then the game is over. Why would anyone acknowledge defeat and fold, if they could just toss more on the pile and keep bluffing?
And a game with no discernible 'end' isn't worth playing anymore.
By saying "no limits" he is telling everyone else at the table that they will NEVER be able to cash in their 'winnings', so what's the point of continuing to play?
But that's the conumdrum, isn't it? We have created so much unimaginable wealth, yet it is forever out of reach, because those who "have" it can never actually GET it all out of the system. They can never cash in and go home.
I imagine there is a limit to negative rates, when the theft will become so obvious to the average sheeple that it can no longer be justified through the usual propaganda. This limit is probably further out than any thinking person would expect, but it's there.
i never look at a bit of the ZH "financial" related content anymore 'cause it's meaningless. just waitin' for the implosion and the "rectification" phase.
Yeah i reckon the germans might have something to say about his "no limits"
Yeah i reckon the germans might have something to say about his "no limits"
Maybe the limit is when it costs less to stash and protect physical currency notes than to "pay" the bank to "protect" those same notes. To an individual is does not matter where those "notes" are as long as they are "safe". To the bank and the reserve system it does matter. Sometimes the impressive bank building and vault can keep those notes safe from armed robbers, but when it is no longer your currency note in their bank but just a bank ledger liability, even the unarmed insiders can make bad decissions that let your money walk away from you.
The job of the central banks is to keep the debt train moving. It's good for bankers.
No limits sounds like no chance of ever having risk which really means never having to honor your debts.
Totally fucking insane.
You know if you really want to make a lot of money you might want to gain complete control over the monetary system to the point that you can buy everything else.
This is actually deceptively easy to decode.
We gave a private banking cartel control over the worlds money supply and they are busy buying the world with that.
Not so hard to figure out.