Despite TurmOIL Stocks Stage Furious Last-Hour Comeback
The Fed's apparent new communication policy (as the rest of the world's markets and policy-makers try to force its hand)...
This has never happened before (even with the panic buying)... The S&P 500 is down 6.5% year-to-date - that is officially the worst start to a year ever...
The gaping truth of The Fed policy error is now being exposed in tumbling rate-hike odds... March odds down to 36.8% (from over 55% a week ago)
As Bonds & Bullion dramatically outperform stocks post-FOMC...
* * *
On the day, it was ridiculous - here are futures to show the swings...
And in cash - the panic-buying melt-up faded into the very last few minutes...
Dow screams 200 points higher in minutes... just because...
All Yen all the time... (as stocks decoupled from oil)
It appears Stocks (algos) were playing catch up to the China-selling-based higher Treasury yields...
NOTE: This could have been a disaster for Risk-Parity funds (Bonds and Stocks down hard) - beware the "bullishness" of China selling Treasuries
Before the epic melt-up buying panic, The Nasdaq is down 8 days in a row - has not had one green day in 2016 - this is the longest losing streak since May 2012...
Credit wasn't buying the ramp...
Plenty of momentum stocks have been crushed in recent days but Gunmakers appear to be suffering as The Obama administration admits its done all it can...
Financial stocks have collapsed (the worst start to a year ever for XLF) - just as we said they would - to their less exuberant credit market levels...
Most worrying is the spike in the TED Spread - a topic we have been warning about for 2 months - and its implications of systemic risk concerns....
As Citi and Goldman are seeing their credit risk surge the most...
Treasury yields rose on the day - as China selling to support Yuan trumped any safety bid from carry unwinds...
FX markets were very active overnight in Asia and even the majors were swinging violkently as The USD Index rose 0.4% on the day... CAD plunged to new lows as crude tumbled...
With Offshore Yuan surging by the most on record...
With the CNH-CNY almost inverted...
Commodites were all lower as Yuan and USD rallied (but crude and copper were worst)
With WTI Crude collapsing to a $30 handle - its lowest in 12 years following weak China data and MS report...
And Copper crushed back under $2 as hopes for further China stimulus are rebuked...
Charts: Bloomberg
Bonus Chart: Oddly causative correlation of the day... (why oil dumped, and Yuan pumped)...
(13 votes)
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"I" see a red tape and I want to paint it black............ oh well.............
Anyone have an educated guessimate how much the Fed/PPT throws into the furnace on a day like today. I've seen their hands full on for the last few days - what 100's of millions of 'dollars' propping up the S&P and Dow futs? - just to get us thru Monday lunch out here in the Left Coast.
Approx. 147 bn kitchen sinks, or thereabouts.
I think they're going to need a bigger cat.
UVXY got bitch slapped at 3:18 EST as the panic stock buying ensued! UVXY down nearly 20% in less than 45 minutes!!
TOTALLY FUCKING NORMAL!
you got to look at like this:
Look how hard they smacked it down and compare to the equities. They are not moving like they were in the bigger picture although they did try today. The pixie dust is starting to lose its effect as the market needs a larger does of opiates too maintain its high.
So, let me get this straight. The only Criminals buying Stock is the Fed & the Tresury who make up the PPT with money the Fed prints?
I'm I missing something here?
crazy right???
Fucking Psychotic.
It's on days like this, and with charts like these, that I truly understand the maxim "the market can stay irrational longer than you can stay solvent". 3:30 ramp to the rescue, once again.
Dead cat/dog/turtle bounce ?
Pigeon.
And VIX is unchanged!
David Bowie: http://youtu.be/nP6xBFyA_aw
The panic buyers can have it!
No changes.
1896ish to 1930ish. Twice after the open fade to 1930 damn near to the exact 1930.00 and fade - nothing to see here move along.
Financials "all caught up"? Not if financials credit resumes the move down.
let us hope the 1930 to 1940 area we discussed earlier today is the line in sand. Make both of us smile.
I'm sticking with the same approach from today for tomorrow. What a dummy like me would evaluate is any garbage bullshit generated before the open that opens it above that 1930 level or below the 1896 level. If they open it above with some unicorns it could easily be simply to suck in more Pisanis. Conversely, if they open it below it could be to rip the face off of new shorts shortly after the open going back to 1930ish.
Either way the way it currently looks there isn't all that much of a foundation here holding this thing up. If no legit bounce tomorrow no shock if it breaks that 1896 with authority before the close.
Check out the mole if you know who I speak of and read his article today. I think he has a pretty solid plan on what will happen with ES.
They started a little early today, but I imagine the 3:30 Ramp goes something like this:
EVERYONE RAMP NOW!
www.youtube.com/watch?v=Wc8nkyUbZJU
LOL excellent.
Your karate kid comment was the inspiration!
These assholes are using every trick they can think of just to squeak out a green day. I will say this, If crude finds a bottom so will equities. PPT is using every crude swing up to fuel the ramps in equities. First they tried Euro close and failed. Next was at 203pm est right before US pit close for crude. They have been using this one big time to help 330ramp. This is what carried equities higher. Then price started to fade again. And everyone and their mammy now knows about 330 ramp so they decide to start 10 minutes early for a very epic rampathon. Then right before 4pm(350pm ish) crude started to sell off after pit close, again crushing their meltup.
My point is the FED seems to be controlling the demo of its bubble. Just my take.
My point is the FED seems to be controlling the demo of its bubble.
Predicted by Chris Temple on Dec. 17th. The Fed sees that they can't prevent the crash, so they are attempting to slowly let the air out of the balloon.
http://nationalinvestor.com/855/urgent-post-fed-audio-update-chris-thurs...
Will check it out later on.
A controlled descent. So instead of a screaming vertical drop, everyone is looking for the next multiple 200 pt ramps, simply based on previous experience, while the zombie slows to a stop.
Crude is so low now it is the new pet rock, just moving in relation to the money needed to buy it, so look at the dollar ramp.
Currency wars are really picking up. Look for all to eat their babies.
I NEVER tire of that 'You get nothing' video.
"Golden Globes Awards Show ratings fall to 6-year low."
Proof positive we are in a global recession.
I think that's more indictative that the average people give less a shit about that crap, a good sign!
who gives a sheit who is blowing who?
You might care if you are blowing or being blown.
Disgraceful how courrpt the sytem has become!
Booyah Jim, what should I do with my UnderArmor and Gopro? i'm down 15k and counting, and the trailer park rent is due friday
you peasants shall buy or else I'll sick hildabeast on you & she'll tax your ASS OFF. Cliton for Prison Now - 2024
That 25 point 3:18pm ramp liftoff was epic.
CAD beating the pants off the USD in the currency war.
SO, 3:20 ramp crap now?
Corrective last 30 mins...perfect setup for next leg down starting tomorrow (hopefully).
Dudes, they've been ramping the market at various times in the last hour since prices were marked on a board by 'chalk boys.'
Good "Ramp"!...Best thing for adding to the "SHORT"...Right?
soon to be rich...mo money coming my way...investing in the "short" play, long time
mmmmm I like Ramps, ramps and taters
USA!
PPT!
USA!
PPT!
USA!
PPT!
Fistbump! Clusterfuck nation!
I dare you to make a PPT hockey jersey. I dare you I say.
In my best Mr. Burns voice, "Excellent idea. Excellent!"
I think I'll try it out on a hat first. Big letters, just PPT and underneath, in a nice script, "Working Group on Financial Markets.
Now, what would you suggest for a logo or mascot? A rat maybe, or a couple of plumbers with wrenches and plungers? A stock chart like today's?
Can we get WB7 to design one for sale here at ZH? Pretty please?
Why don't they just AUDIT the FED ? The Weimar presses are still cranking over ! Hard to believe they have gotten away with this for so long - They are setting us up for ENDURING pain - EVERLASTING ENDURING PAIN !
Go LONG - Clean water - Black soil - Tesla Coils - it's you only FUCKING hope !
Who would you like to audit them? Congress? The other elected leaders who directly benefit from the reckless printing of fiat currency. No chance that happens. To paraphrase from "Tommy Boy"- I could take a dump in a box and you could audit it but then all you've got is an audited piece of shit.
The system of fractional reserve banking and un-backed fiat currency is the problem, not the accounting of said fraud. END THE FED!
3:30 = 4:20
Yellen's 3:30 PM Hot Poker for you shorts!
Learn to hedge, then you can poke her back, and get staying power!
Eventually some insider of the PPT going to have to come forward and tell the story of how the Fed manipulates the stock market.
Audit the Fed NOW !!