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"Dash-For-Trash" Melt-Up Erases Post-Fed "Policy Error" Losses

Tyler Durden's picture




 

The bigger they are...

 

The "Dash For Trash" continues...

 

As The open was another big short squeeze... 2nd biggest short squeeze day in 2 months and 2nd biggest 2-week squeeze in 10 months

 

Bad Breadth-er...

 

The S&P 500 was ramped perfectly into the Green year-to-date... "Mission Accomplished"

 

Small Caps and S&P are back in the green post-FOMC...

 

With stocks back above bonds post-FOMC and the miracle of crude from worst to first...

 

And The Dow and The S&P 500 to the 200DMA/500DMA cross...

 

This is the best 3-day run for Trannies since the bounce off the August Black Monday lows...

 

No, this is not China... this is American stocks TODAY!!!

 

Nike went from hero to zero...

 

FANGs are not playing along...

 

Here's why stocks are ripping...

 

But something odd is going on again in the Oil ETF/Vol complex...

 

"Oil Prices may be showing signs of stabilization here" said one spewing head on CNBC!! - yeah just like in August? One big stop-run...

 

Treasury yields continued to rise today with 30Y reaching pre-Fed levels before bonds rallied into the close...

 

The USDollar Index fell after overnight strength - reversing a recent intraday pattern...

 

Anything look odd here in commodity-land?

 

And RBOB soared over 7%...

 

As Bob Pisani says "it makes perfect sense."

 

Charts: Bloomberg

Bonus Chart: The number of barrels of oil an ounce of gold will buy is highest in 30 years...

 

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Wed, 12/23/2015 - 17:06 | 6957795 Kaiser Sousa
Kaiser Sousa's picture

total fucking Management Of Perspective Economics...

M    O    P    E.....

DEATH TO THE MONEYCHANGERS...

the new year awaits u...

buy Gold....

Buy Silver...

Liberate u and ur family....

Wed, 12/23/2015 - 17:12 | 6957827 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

Retesting May highs in January, it's called the "January Effect"

https://www.youtube.com/watch?v=adurRBON0B4

Wed, 12/23/2015 - 17:29 | 6957903 Sudden Debt
Sudden Debt's picture

Januari is the month that sets the tone for the rest of the year.

That's why spikes and big drops happen in January, it's just been a while since that was obvious since markets have been fixed for over 8 years now.

Wed, 12/23/2015 - 17:38 | 6957931 Osmium
Osmium's picture

Never heard of Gregory Mannarino, but what he has to say makes sense.  Not sure your downvoters watched the video, but he says the same things that have been said here many times.  There is no price discovery in the paper metals markets and they are used as tools to keep people from buying gold.

Wed, 12/23/2015 - 17:59 | 6958004 asierguti
asierguti's picture

All manipulations come to an end.

 

This has happened over and over again. People think they are smart enough to play the ponzi scheme, because after all, it always goes up, doesn't it? They also think that they can pin point the exact top, and get out a couple of weeks before the entire thing implodes. Don't fight the tape, don't fight the fed, etc. This basically boils down to participating in the game because the central banks have your back. It's what has pushed the market up every time there are bad news.

 

The problem is that very few can time the market so well. Talk to any experienced trader and investor. I'm not talking about a guy with a blog or some people writing newletters, but real investors with decades of experience. They will openly tell you that it's impossible to time the markets.

 

But, hey, what do I know. We'll have to wait to see if Gregory is really that good. Or maybe he's trying to get people to buy, while he takes the other side, think about it...

Wed, 12/23/2015 - 18:04 | 6958020 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

He called the top, to the day in May and he called the recent decline last week to the day. 

Wed, 12/23/2015 - 18:11 | 6958043 asierguti
asierguti's picture

How about the top in July?

 

The guy is smart, he is saying both things at the same time. He is saying that short term it will go up, and log term down, at some point. If the market crashes in January, I guarantee you that next summer he will say that "he predicted that the market will go down".

 

If you want to follow him, perfect. People don't use to make money following others, but making their own decisions.

Wed, 12/23/2015 - 19:05 | 6958213 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

I'm not following him, I refuse to be in the stock market. I am just saying his theory is most likely right, even if I don't want it to be. He's one of the good guys. I follow no man, to me detriment, as it were. 

Wed, 12/23/2015 - 17:15 | 6957838 Keltner Channel Surf
Keltner Channel Surf's picture

Thought you might have meant "Prospective", but perhaps I'm reading your post from the wrong perspective (?)

Wed, 12/23/2015 - 17:07 | 6957801 thismarketisrigged
thismarketisrigged's picture

OF COURSE THIS ALL HAPPENS, AND YET THERE IS NO FUCKING AUDITING OF THOSE FUCKHEADS OVER AT THE FED.

 

WE HAVE THE BIGGEST FUCKING PONZI SCHEME TAKING PLACE RIGHT INFRONT OF OUR EYES IN BROAD DAYLIGHT ON A DAILY BASIS FOR THE PAST 7 PLUS YEARS, AND NOTHING IS FUCKING DONE ABOUT IT.

 

NO ARRESTS, NOTHING, ITS FUCKING MIND BOGGLING,

 

Wed, 12/23/2015 - 17:09 | 6957816 Kaiser Sousa
Kaiser Sousa's picture

Rigged -

stay mad...

but dont let them drive u mad...

be well my friend...

we will persevere no matter the shit they hurl...

cause we see it for what it is....

desperation.

Wed, 12/23/2015 - 17:12 | 6957823 BlueStreet
BlueStreet's picture

R2K is still screaming top and only a miracle will change that. 

Wed, 12/23/2015 - 17:15 | 6957835 Rainman
Rainman's picture

We gots a full moon Christmas coming up ... first time in 38 years.

         Does this mean something ?

Wed, 12/23/2015 - 17:16 | 6957846 BlueStreet
BlueStreet's picture

Not sure but it will give Old Yeller something to howl at. 

Wed, 12/23/2015 - 18:35 | 6958120 Brooks_Orpington
Brooks_Orpington's picture

Yes

Wed, 12/23/2015 - 17:16 | 6957849 Chris P
Chris P's picture

I'm amazed that they didn't run it up any higher than they did over the past few days 

Wed, 12/23/2015 - 17:18 | 6957851 SillySalesmanQu...
SillySalesmanQuestion's picture

Squeeze those trailer trash stocks like you love em, then leave em, before they leave you...broke

Wed, 12/23/2015 - 17:20 | 6957865 Keltner Channel Surf
Keltner Channel Surf's picture

Can’t recall how many late Decembers failed to feature a week of fierce ramping on below-avg volume, with root cause speculation ranging from technical factors (mutual fund distribution reinvestment; folks not realizing IRA contribs can be made thru April; large public funds, forced to remain net long, and whose reallocation sell programs are a prerequisite for any major downdraft, shutting down for the year) to self-serving moves (money mgrs taking advantage of low-volume to save their years).  Perhaps the only thing more predictable is that folks will continue to be astounded by it.  Just the market’s way of sayin’ “Happy Holidays.”  

In the past 6 yrs or so, half the time the ramp was unwound in early Jan, half the time it wasn’t.  Seems the prediction for 2016 is rather one-sided, which means … actually it doesn't matter, as February seems to set the true direction ... er, ah, except for this year ... damn, now I know why I end each day in cash ...

Wed, 12/23/2015 - 19:24 | 6958284 BullyBearish
BullyBearish's picture

Ask any "long only" trader and you'll find the Santa Claus rally is as much an entitlement as anything "given" to the FSA...

Wed, 12/23/2015 - 17:30 | 6957869 Son of Captain Nemo
Son of Captain Nemo's picture

I have this vision that sometime within the next year instead of the "closing bell" being a ding... ding... ding... ding... ding...

Russia will "close the session" in lower Manhattan for us with one of these instead because well our Zionist friends in Washington, London and tel Aviv like to do very foolish things when they don't get there way!

Let that one sink in real good because the probability of that happening versus hearing a "bell" to finish the day and market is growing exponentially by the motherfuckers running this shell game!

Happy Christmas ya'll!!!

Wed, 12/23/2015 - 17:24 | 6957880 thismarketisrigged
thismarketisrigged's picture

THE BEST PART EVERYDAY IS HEARING THAT MORON BOB PISSANI SAY HOW THE BOUNCE BACK IN STAWKS IS DUE TO OIL STABALIZING.

 

HEY BOB, IF STAWKS AND OIL ARE SO CORRELATED, THEN WTF DID STAWKS MOVE HIGHER AND HIGHER ON A DAILY BASIS WHEN OIL STARTED ITS COLLAPSE AROUND 15 MONTHS AGO?

 

O YA U HAVE NO FUCKING ANSWER U DOUCHEBAG BC U JUST TALK OUT OF UR ASS.

 

THERE IS ZERO CORRELATION BETWEEN STAWKS AND OIL, ZILCH!!!

IN THE PAST 2 YEARS, OIL IS DOWN NEARLY 60 PERCENT, THE S&P IS UP 12 PERCENT IN THAT TIME. YUP, WHAT A STRONG CORRELATION THE 2 HAVE

Wed, 12/23/2015 - 17:48 | 6957971 pebblewriter
pebblewriter's picture

Not to rain on your rant -- and, no argument re douchiness -- but he was right, even if for the wrong reasons.  CL is being used on a regular basis as the driver for fairly powerful algos.  Your moniker say it all, this market IS rigged.  Usually it's USDJPY.  Other times it's CL, VIX, etc.

Check out a three year daily chart of CL and SPX and you can see that the correlation was very positive until Aug 2014, when oil was crashed in order for USDJY to break out and drive stocks higher through the yen carry trade.  At that point, a lower CL started to become problematic.  It was hurting not just the oil companies, but banks that lent to them and the states where drilling is important.

So, oil bounced.  Each bounce correlated with a bottom for stocks.  The June-Aug plunge was obviously highly correlated with the SPX correction.  Ditto for the subseqent rebound.  The only reason stocks kept going after CL topped out in October was USDJPY bounced off a 5-yr old channel bottom.  Both have fallen in lock step since Nov 3.

Eyeball the charts of SPX, USDJPY and CL and you'll see all of this for yourself.

http://pebblewriter.com/hello-haruhiko-janet-here/

 

Wed, 12/23/2015 - 17:24 | 6957886 pebblewriter
pebblewriter's picture

Agree re the CL stop run, but the trigger was topping the Aug 24 lows.  Pretty clear CL is filling in for USDJPY in ramping stocks higher.  Could it have been this phone call between Yellen and BoJ's Kuroda?

http://pebblewriter.com/hello-haruhiko-janet-here/

Wed, 12/23/2015 - 17:28 | 6957899 Glasshopper
Glasshopper's picture

The most hated rally ever

Wed, 12/23/2015 - 17:28 | 6957900 Jungle Jim
Jungle Jim's picture

And this means what for the price of gold, near-term?

Wed, 12/23/2015 - 17:37 | 6957930 Keltner Channel Surf
Keltner Channel Surf's picture

A gold bug, friends call him “Drew”
Hid Kruggerands right down the loo
“No thief would dare
to look way down there”
... his plumber’s new Jaguar is blue

Wed, 12/23/2015 - 17:33 | 6957913 lester1
lester1's picture

Anyone else the Federal Reserve's balance sheet went up last month? I wonder who got the money and for what purpose???

Buying stocks perhaps??

Wed, 12/23/2015 - 17:38 | 6957932 wmbz
Wed, 12/23/2015 - 17:45 | 6957952 Baby Eating Dingo22
Baby Eating Dingo22's picture

All I want to know is how much debt was added to my grandkids tab these past 12 months in order to keep the SP "higher"

Wed, 12/23/2015 - 17:47 | 6957956 Hongcha
Hongcha's picture

No traction for shorts.  It's obvious the market has a floor and is levitated.  Has been since the 2008 meltdown.  At that point, it was determined that the market would stay up, rates down and gold suppressed.  When Chalky said in March 2009 'I think the market is too low' that was the tell.

Wed, 12/23/2015 - 17:47 | 6957963 rsnoble
rsnoble's picture

Like I said several times last week: crash this week, nothing but green, recovery bs and Santa spewing cum all over himself next week.

Wed, 12/23/2015 - 17:55 | 6957986 Hohum
Hohum's picture

Until proven otherwise, the only correlation that matters is S & P v. Federal Reserve balance sheet. Let's see if that diverges in 2016.

Wed, 12/23/2015 - 18:02 | 6958007 izzee
izzee's picture

Bad Breadth-er...

hey IDIOT you keep "MisUNDERSTANDING" TRIN...and that is being KIND.

on the NYSE there were 2683 Advancers and 430 Decliners

THAT IS NOT

Bad Breadth-er...

the TRIN on the close was .43

That indicates

NOT Bad Breadth-er...

 

Get that 18yo Hot Intern to stop posting this CRAP

Wed, 12/23/2015 - 18:50 | 6958167 madridisburning
madridisburning's picture

Is ZH admitting that it is wrong, yet again? It has called 102 of the last 1 correction. The market is surely overvalued, but ZH has no clue as to the forces in play. Tyler should go sit in the corner for excessive alarmism and "I told you so"-ism.

 

 

Wed, 12/23/2015 - 20:10 | 6958442 jcdenton
jcdenton's picture

Is this excessive alarmism?

 

VOICE ON GOLD AND THE TREMENDOUS PARADIGM SHIFT... THE GLOBAL RESET IS AN EVENT DRIVEN SCENARIO FOR WHICH THE FUSE HAS ALREADY BEEN LIT... THE BANKER CABAL ARE ON THE RUN, SOON TO BE EXPOSED IN A MASSIVE DISPLAY BY THE SPOTLIGHT HELD BY THE PRESS NETWORKS... THE GOLD PRICE WILL MOVE MULTIPLES HIGHER. $$$ 

The Voice offered a summary of the upcoming events, in a general sense. The following are his thoughts, my minor edits. The fuse had been lit on the Global RESET event. Only a very few know how the fuse is timed. Russia and China are well prepared for the system meltdown, since they have contingency plans in place. There will be an event driven scenario triggered by the meltdown which will be default install the new financial systems. This is a grand chess game the West does not really understand. Look how cleverly China has de-industrialized the United States, while buying up its commercial property assets in a big way. Absolutely mind bending how that was planned and executed. Most of today's supposedly expert analysis is not even worth reading any longer. It is like a dog chasing its own tail.  

Western governments and the Middle East sheiks have already lost control. Some lost control is also happening in Latin America and even in the United States. In Canada, with its new government, they did cut the corner just before the country was about to go over the cliff. The real decisions concerning Canada are being made in China and soon in Russia. Little known is how Russia sits atop China in the global food chain. In the end we could see the Alaska land lease deal being undone and Alaska reverting back to Russia. The USGovt will find itself in debt default, without any power at the table. Claims will be made in rapid fire against the Americans, who have alienated both friend and foe. The US is so royally screwed, that most people in the shattered nation, whether in government, in industry, in think tanks, or in households, do not have the slightest idea how bad it is going to get.

Furthermore, the narco cartels in Latin America will all be exterminated by the Chinese and Russian once the US influence and involvement has been eliminated. The balance of power will shift, leaving entire groups and nations vulnerable. The US West Coast Latino gangs, 45 thousand men strong in Los Angeles alone and armed to their teeth, are well aware that they will be wiped out by the Chinese if they make a wrong move. The TRIAD barbarians are at the gate, as in the Chinese Mafia. The world will grow a lot more violent and insecure in the coming months as events unfold, while international travel will decline significantly. People will stay close to home, due to terror attacks everywhere. The electronically dominated world we live in today will be unhinged and all the unnecessary, personality and privacy invading technologies will be altered to serve people and no longer patronize them. Scientific studies, which for a long time have been suppressed, known to be critical to the sprawling powerful banker cabal, will be published soon.

 The Western press will lose control, even as the banker cabal loses control. The released news stories will be filled with documents and high level professionally detailed reports that describe the dangers to economies, financial systems, and society due to the cabal hands. The bankers will be unmasked and revealed for what they are, a group dedicated to destruction, subjugation, fraud, power, and privilege. Some say that beach balls are being pushed under water, the pressure and force soon to reverse to bring surprising and often pleasure outcomes. While that might be true, it is worse. The banker cabal are finding their own balls are hanging already in boiling water. As for the Gold price, it will take care of itself, finding price levels multiples higher as the system implodes and the cabal power over financial markets erodes quickly. These COMEX screen prices are totally irrelevant, and a waste of time to follow. It is all an illusion for the sheep, who have followed the script by selling their gold. Only the smart and nimble and gifted will survive this global torrential storm, those who hang on, do not lose heart, and endure to see the return of Gold to its apex position.

-- from Gold Investment Report December 2015 by Dr. Jim Willie

 

Or is this more alarmist?

 

 

There are numerous Intel insiders and true Patriot “Intel Cowboys — White Hats”, members of the High Military Command and many others who are working to restore the American Dollar to what it should rightfully be, real true Constitutional money, backed by Gold and other commodities. This coming major World Financial Reset should more realistically be called a World Monetary “Restart” or “Re-grouping” rather than “Reset.”

 

The final result of all this is likely to be a major Restart and Re-grouping of monetary and credit policy inside America and a restoration of Constitutional Currency without offshore, City of London controlled foreign invaders disguised as bankers. As long as cooler heads prevail and prevent the World Zionist invaders and hijackers of America from starting a nuclear WW3, a major new war in the Mideast or the Ukraine, or Homeland Security from provoking a major Civil War inside America, it looks like Americans will see a return of the real USDollar, real United States Constitutional Money.

 

-- http://www.veteranstoday.com/2014/07/30/the-coming-return-of-the-real-us...

Wed, 12/23/2015 - 19:40 | 6958364 nopat
nopat's picture

So what's the racket here?  OT (Original Tyler) leases out space and does an ad revenue share based on view counts?  Only way to explain the absolute bottom scraping that's been going on here lately.

Lately?  Well...you get the point.  It's been much more worse than usual.

Wed, 12/23/2015 - 20:24 | 6958491 luna_man
luna_man's picture

 

 

Knowing how bad the economy is, it's getting down right funny, watching these CRIMINALS, scramble to keep it all together.

 

time is running out CRIMINALS!...where you gonna hide 

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