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Commodity Currencies Are Soaring As Crude, Stocks Bounce
In an effort to wrestle S&P 500 to VWAP, to enable panicking professional sellers out, a sudden bid for crude oil and commodity currencies appeared shortly after 8amET...
S&P ramp to VWAP...
On the back of all things commodity-related...
Some context for the sudden bid in FX...
Now that VWAP has been hit, we wonder what happens next?
Charts: Bloomberg
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WTI is at 35.16 atm, not exactly soaring...old yeller and co...feverishly keeping CONfidence steady.
Time to crush the shorts.
Don't you have access to a latrine?
Apparently in ZH parlance "soaring" means back to even for the morning after a few downticks.
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Is this real or market rigging by insiders? I will wait to see what Jim Cramer says, he is never wrong.
There's that word again..."market"...
Replace with "casino" then the rigging part makes more sense...
Replace it with pirate ship and rigging really makes sense. ;)
No news bullshit as usual...
Too bad Leslie Nielsen is gone...
https://www.youtube.com/watch?v=5NNOrp_83RU
"Wall Street, what is it?" "It's a big building with Assholes inside. But that's not important right know."
Will be shorter lived than the time between the first cup of coffee and the morning constitutional.
Damn, that is short.
Sometimes simultaneous.
Yes, almost always around here anyway.
santa rally fail?
Any and all assets of real value that can be held or controlled outside of the criminal banking and finance system will continue to be crushed in the paper markets.
same as it ever was...
PPT awakens before Noon?
shocked,i tell ya,shocked
The Fed can either do QE or devalue the USD from these absurd heights. The full employmnet mandate is about not destroying jobs, which the central bank absolutely has the ability to do. No one expects the Fed to create jobs. They are just supposed to not lay waste to the economy. Currently their policies are gutting the economy of at a very high rate. This is just how a fiat debt system works. These are the rules of the game.
$999 Au, $11 Ag, $30 oil, $490 palladium - all just days or weeks away. The only thing worse than deflation is talking about it.
And when China comes out and announces they have 50,000 tons of gold and are going to introduce a gold backed Yuan, what do you think is going to happen?
I'm just going to leave this right here...
http://www.bloomberg.com/news/articles/2015-12-14/hedge-funds-boost-bear...
surely the "hedge funds" are right. expect volatility, up & down.
To be filed under "WTF"
I told you Friday that there is a Santa Clause and that he would save the (cough) markets on Monday.
"I make nothing. I own everything."
-Gordon Gekko. Wall Street
Well, let's see how it plays out ;-)
http://www.zerohedge.com/news/2015-12-12/december-16-2015-when-end-bubbl...
There is a $1 opening pump in oil by the algos almost every single day.
PennyOil volatility is the new normal.
I see Canada's budget into 2016 going down the crapper. $20 for oil or less in Alberta.
What you and every other America fails to remember is that even with oil at US 20.00 a barrel, in Canadian dollars it comes to 34.00 (CAD) and the largest producers are profitable at 18.00 (CAD) so no, I don't think there are going to be budget problems. The actual contribution to GDP from the oil and gas sector after deducting rebates from the federal and provincial governments is 6.5%, hardly an issue.
So I just took at look at the Canadian market, and yes, the main players are down about 1% today but what is very, very interesting is that the high yield Canadian oil and gas income funds that pay out higher than US high yield are up over 5% today, so that tells me that traders are exiting the US market in droves and looking for anything that can sustain their cash flows. You see, at the end of the day, all we have to do is invest a few billion dollars in refineries and voila, our balance of trade adjusts and we develop an internal market for our gasoline and oil products, just like old man Trudeau envisioned. So to those vultures lurking around here, move on, Canada isn't going down and it most certainly will not be on sale.
If China corners the market for physical Au, Russia for physical Ag (as the Hunt bros tried to do). and IsraelUS for digital fiat... what then ?
Yahtzee!
Here's what I think is happening, outside of crude. US assets are being heavily liquidated, overnight in China and in Europe in the morning which accounts for the initial US dollar strength (as assets are sold, US dollars are in demand). But then, US dollar holders are exiting and running for cover in other currencies, especially CAD and AUS as those two represent not only the fundamental commodity supply for China, but for Europe as well. Time will tell.
Tell me what currency would one hold? Even Norway with it's huge Soverign Wealth Fund depends on oil. Sweden, the muzzies are going to break that country into indecernible pieces. A BRIC? Asia hahahahahaha! PMs
Well, that depends. Do you believe that there will be a China and Russia led recovery? If you do then the commodity currencies, Yuan and Rubles are heavily discounted right now, although if you are looking for immediate liquidity you won't find it in those. I would buy gold and bitcoin if I were you. I'm up 50% on my bitcoin in the last month. My main focus is diversification and I'm holding CAD, US, Bitcoin, Gold, Pounds and Yuan.