Shorts Smoked - Stocks End 'High' As Dollar Dumps'n'Pumps

Tyler Durden's picture

Despite tumbling soft data and disappointing earnings data...

Stocks soared most in 6 weeks...

 

 

Another day, another one-way trip in stocks. VIX clubbed to a 13 handle again stocks soar...

Trannies and Small Caps once again led the day (short squeeze) and S&P lagged but everything was awesomely green again...

 

Another big short squeeze...

 

The Dow continues to lag - managing to scramble back to unchanged from last Wednesday's close before fading into the close...

 

Financials limped back into the green for 2017...

 

The Dow remains below its 50DMA, S&P and Small Caps are clinging to it, Nasdaq is well above it...

 

The Dollar Index dumped early and then pumped after Europe closed and extended to unchanged on Mnuchin's comments...

 

EURUSD moved notably lower after Europe closed enthusiastically... USD remains lower on the week...

 

The strong TIPS auction was also supportive of the renewed hope for the reflation trade...

 

Treasury yield rose on the day but bonds rallied in the afternoon to push back lower on the week...

 

The entire yield curve is moving very parallel - not much steepening or flattening in a relatively narrow range...

 

Gold was hit again pre-London Fix (but not as hard as the last two days)...and the fix was higher...

 

But USDJPY and Gold were joined at the hip all day...

 

Crude slid on doubts over Saudi jawboning and a stronger dollar, back to a $50 handle...

 

Finally there's this...

 

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order66's picture

Pain hasn't even started yet for shorts. Bull flag on the weekly ES_F chart still contained.

Peak Finance's picture

This is all just a fucking "Temper Tantrum" until the Fed officially takes hikes off the table for the rest of 2017

Then back to BTFD 

Traderone's picture

See those Red arrows you have received? they are from fucking retards.

BlueHorseShoeLovesDT's picture

Ha ha hope you are having a good week T 1

Rainman's picture

Tax reform hopium is good stuff, yes ?

Clock Crasher's picture

Are you through?

Not. Even. Close. Bud.

-Breakfast Club

Scuba Steve's picture

"Dont mess with the Bull young man you'll get the horns ... You just bought yourself another Saturday, want another 1?

2 months I've got you Bender, for 2 months you're mine ... "

poland spring's picture

What buying algo was this?

jamesmmu's picture

A healthy rebounce only happen slowly. ANother fake hope today, tax reform not gonna happen anytime soon. 

adr's picture

Thanks to the last Saudi jawbone gas is up $. 20 at every station. I guess oil going up $4 now means the same as $12.

The major drop back to $50 has yet to filter through to the pump. Of course if oil goes back to $54 I'll see another $.20 jump making gas even more overpriced. As if the $1 premium to a barrel of oil wasn't enough. 

tropicthunder's picture

Not even another crazy lone wolf moozy attack can stop the animal spirits from running.

Just wait until they launch a pre-emptive attack on Fatboy-KimChi and the markets will assblast to new ATHs..

pebblewriter's picture

Another day, another ramp job courtesy of VIX and USDJPY.

http://pebblewriter.com/sometimes-youre-the-bug/

GRDguy's picture

The "something for nothing" crowd simply doesn't understand its high costs.

polo007's picture

http://www.marketwatch.com/story/republicans-eye-new-obamacare-repeal-attempt-as-early-as-wednesday-report-says-2017-04-20
 
Trump says he sees ‘good chance’ of health-bill vote next week or soon after
 
Published: Apr 20, 2017 4:45 p.m. ET
 
Senior Republican aide says there’s no text yet
 
President Donald Trump said Thursday he sees a good chance of a vote on a new Obamacare repeal-and-replace measure next week or soon after, telling reporters a plan is getting “better and better.”
 
Earlier, a report said the White House was eyeing Wednesday as a target date for a vote, but a Republican aide on Capitol Hill didn’t commit to that date.
 
“This is a great bill,” Trump said at a news conference with Italian Prime Minister Paolo Gentiloni. “This is a great plan. It’s evolving. We have a good chance of getting it soon, whether it’s next week or shortly thereafter.”
 
The Washington Post’s Robert Costa tweeted that a top White House official said aides to Trump and congressional Republicans will circulate revised language on a health-care bill Thursday evening. The Wednesday target date could change, the official told Costa.
 
Trump and Republicans are eager to take another crack at replacing President Barack Obama’s health-care law, following the implosion of an earlier attempt, in March.
 
Politico reported Thursday morning that an emerging deal proposes giving states more flexibility to opt out of major Obamacare provisions while preserving protections like the ban on discriminating against people with preexisting conditions.
 
A senior Republican aide told MarketWatch the question is whether a bill can get 216 votes in the House, “and the answer isn’t clear at this time.” The aide said there is no legislative text and no agreement to see how many members would vote for it.
 
A White House spokesperson declined to comment.
 
Lawmakers return to Washington next week from a spring recess, and taking a vote on health care would be just one item on an already crowded schedule. The government is funded through April 28, and Congress must pass a bill before then or bring on a partial shutdown.
 
Trump also said he wanted to avoid a shutdown. “I think we want to keep the government open, don’t you agree?” he said in response to a reporter’s question.

FreeShitter's picture

Why would anyone try and short this? CTRL-P always has your back.

Scuba Steve's picture

Is Selling Puts shorting or nudging?

KimAsa's picture

Who shorts this shit anyway?

FreeShitter's picture

morons who love to lose money

TrumpRally's picture

People have been so bearish Avi is wrong again. 

 

only analyst getting right

 

Their charts on one of their FB pages contains past charts that prove their correctness with market calls.

 

https://t.co/f3mU9N8rc4         

 

 

gm_general's picture

Very informative chart is !GAAPSPX on stockcharts site. This is the SP500 GAAP earnings. Bring up this chart and use at least a 5 year time frame. You will see the earnings plummet from 2015 on, and last 2 quarters there is an anemic bounce that the talking heads on TeeVee are shouting about like its some great new boom. Its basically nothing, at least so far. So last time earnings were this low was 2012 when SP500 was around 1650. Of course us ants are prepared for Winter while the stoopid grasshoppers are partying. What good will all those winnings be when you lose them all and then some?

Erwin643's picture

I know, Tyler isn't happy unless the market is in constant decline.

Based on all the long-term indicators, being short right now is pretty stupid.

Blankfuck's picture

between EtF buying and selling plus shorting and  covering during the course of the day spiked the maket. It has happening over and over in the past 8 years