Bonds Bid, Stocks Skid But VIX Breaks Another Record

Tyler Durden's picture

Anyone else feel like this?


Stocks dipped hard out of the gate - filling the gap to the first round of the French Election...

But the dip-buyers were instantly in... though unable to save markets into the green...Small Caps worst


VIX tagged 11.00 briefly...


But closed below it for a record 14th day in a row...


VIX remains notably decoupled from policy uncertainty...


Financials were the day's worst performer...


The Big Banks were hit hard in the sell-off...


And of course, why should VIX be higher? After all Macy's just had its worst day since Lehman...


And then there's SNAP...


Despite a dismal 30Y auction (following yesterday's ugly 10Y auction), bonds held on to gains today...30Y remains above 3.00%


The Dollar Index fell for the second day, but we note EUR is weakest on the week against the USD...


Cable tumbled on Carney's comments...



Oh and in case you wondered what drove the buying panic? Simple - fun-durr-mentals...


Finally, fear has been banished...

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BlueHorseShoeLovesDT's picture

The old slam it until 10:30 and ramp the rest of the day pattern.

A classic.

Squeezy the algo was working the vise grips today

Traderone's picture

Classic behaviour indeed. In auction market theory parlance the first hour low is known as the Initial Balance Low and they squeezed every ounce out of it and then stopped the sell off dead in its tracks right on the hour mark. From then on it was simply a case of buying every dip right into the close, superb market action. 

FrozenGoodz's picture

The underwriters of SNAP thank you children

Jim Sampson's picture

All is well...  all is well.

rmopf2010's picture

Aunt Yellen is baking another One Trillion $ of fiduciary cake

Wait For next Monday Dow to 30,000 forget VIX

BlueHorseShoeLovesDT's picture

I do like auction market theory

Market Rage's picture

More like buying every down tick.  There were no dips in NQ ans ES.

Vlad the Inhaler's picture

Especially shows in the IWM, been catching a bid at the exact same time every day for like a week.

spastic_colon's picture

when in doubt bang AAPL; just overlay DOW and AAPL.

jamesmmu's picture
China’s Economic Growth Is Slowing Down As The Government Is Trying To Step Up The Battle Against Property Bubble And Credit Growth

Flounder's picture the era of vapor money and CB stock/asset purchases VIX is meaningless...china, us, eur vapor currency (created funds) buying hard assets and equities...chinese construction ceo gets paid from govt vapor funds loan for building ghost town spends new money on vancouver property, spx, aapl whatever...AAA AIG bailout money from tarp goes into leaderships pocket and buys a nice bit of real estate/assets...draghi is facilitating the same velocity of printed money, japan cb making great stock purchases for instant profit...

Rainman's picture

Just wait until the Chicom hot money starts flushing out of these markets ..... woohoo !

khakuda's picture

It's been so many years, I forgot what a down market looks like.  The color red may have atrophied from my monitor.


I've become grandpa, "Hey kid, I remember back in the day when college was affordable, marijuana was illegal and cigarettes and soda pop were legal.  I also remember when stocks didn't go up each and every day uninterrupted for almost a decade."

Jtrillian's picture

Today was a good day to stack some silver (Gresham's Law). 

Manipuflation's picture

I plussed you.  However, have you ever heard Thier's law?  That is always a interesting debate because it brings into focus legal tender laws.  Bad money can drive out good money.  I believe if you check your wallet you will see that there is evidence of this being true.

I do agree with you.  I am watching silver carefully.  I know what I want to buy.  Perhaps tommorow?  They like to play whack-a-mole on fridays. 

BlueHorseShoeLovesDT's picture

The short squeezing was epic. 

Market Rage's picture

I'm starting to think these token moments of weakness are planned in advance.  The declines are as phony as the rallies.  The major indices are controlled.

Juggernaut x2's picture

Retail is dead because everyone is saving up to buy solar roofing shingles from Elon. 

ThanksIwillHaveAnother's picture

Volume must not be good.  HFT computers in a meeting again?   Shorts getting staged?

Tonterias's picture

Vix Up, for Dow Jones new records

decentralisedscrutinizer's picture


Almost all the world’s economic and political problems revolve around the hegemony of a global corporate cartel, which is headquartered in the US because this is where their military force resides. The only way to regain our sovereignty as a constitutional republic is to severely curtail the privileges of any corporation doing business here. As a free nation, we really have to stop granting corporate charters to just any “suit” that comes along without fulfilling a defined social value in return. The "Divine Right Of Kings” should not apply to fictitious entities just because they are “Too Big To Fail”. We can't take the incorporation of private transnational banks for granted anymore. The government must be held responsible only to the electorate, not fictitious entities, if we are ever to restore sanity, much less prosperity, to the world.




It was a loophole in our Constitution that allowed corporate charters to be so easily obtained it created a swamp of corruption around our capital. It is a swamp that can't be drained at this point because the Constitution  doesn’t provide a drain. This 28th amendment is intended to install that drain so Congress can pull the plug ASAP. As a matter of political practicality we must rely on the Article 5 Convention for which the electorate will need consensus beforehand. Seriously; an Article 5 Constitutional Convention could solve that problem in days. This is what I think it will take to save the world; and nobody gets hurt:




28th Amendment


Corporations are not persons in any sense of the word and shall be granted only those rights and privileges that Congress deems necessary for the well-being of the People. Congress shall provide legislation defining the terms and conditions of corporate charters according to their purpose; which shall include, but are not limited to:


1, prohibitions against any corporation;


a, owning another corporation,


b, becoming economically indispensable or monopolistic, or


c, otherwise distorting the general economy;


2, prohibitions against any form of interference in the affairs of;


a, government,


b, education, or


c, news media, and


3, provisions for;


a, the auditing of standardized, current, and transparent account books, and


b, the establishment of a state and municipal-owned banking system


c, civil and criminal penalties to be suffered by corporate executives for violation of the terms of a corporate charter.




The Founders had to fight a bloody Revolutionary War to win our right to incorporate as a nation – the USA. But then, for whatever reason, our Founders granted the greediest businessmen among them unrestricted corporate charters with enough potential capital & power to compete with the individual States, smaller sovereign nations, and eventually to buy out the Federal government itself. Now that these fictitious entities own the USA and command its military infrastructure, by virtue of the Federal Reserve Corporation, and run it by virtue of regulatory capture, MSM propaganda, and Congressional lobbying they’ve set their sights on the creation of an all-inclusive global financial empire. The US Constitution is the “Kingpin” of the whole global Machine.


Bartoli's picture

Please everyone send a note to ZH admin about too many ads that won't load and hang pages, pop ups like crazy and the like. Argggggh

Rock On Roger's picture

Where are the silver and gold charts?

Is it an omen?