Stocks Jump As Dollar Dumps And Bitcoin Explodes To Record Highs

Tyler Durden's picture

Just because it made us laugh...

As Bloomberg notes, the S&P 500 climbed for the third consecutive session as President Donald Trump’s trip to Saudi Arabia netted deals that lifted defense shares. The euro remains firm having pared gains from Chancellor Angela Merkel’s comment referring to the single currency as “too weak.” The 10-year Treasury yield climbed above 2.25% while gold rose and crude climbed to the highest in a month as Saudi Arabia said all producers agree on extending output cuts. Brazil’s real trimmed losses after the top court suspended its ruling on President Temer, while Mexico’s peso gained as interest rate differentials temporarily overshadow NAFTA concerns.

NO VOLUME!!

While stocks are up 3 days in a row, they remain below the Trump-Dump levels... NOTE - each of the daily bounces have been opening gaps with little follow-through...

 

And "Most Shorted" stocks are now back unchanged from the Trump Dump...

 

S&P limped back into the green for May (Dow remains red)...

 

And all this while VIX was crushed back to a 10-handle...

 

And short-term VIX has crashed back to a 9-handle...

 

Energy stocks disappointed despite WTI topping $51 on the heels of positive OPEC jawboning...

 

But thanks to Trump's big deal in Saudi Arabia, Aerospace & Defense stocks soared...

 

And some Monday Humor...

 

Treasury yields rose very modestly on the day but remain well below pre-Trump-Dump levels... (30Y hovers around 2.91%)

 

The Dollar Index was down once again (8th of last 9 days) to pre-Trump lows

 

Brazil is bouncing back a little from its devastation but notably stocks are not as excited as FX...

 

WTI Crude rallied to $51 and then stuck there...

 

Gold and Silver both gained on the day...

 

Finally Bitcoin was the day's real winner, soaring over 15% on the day (up 25% since the Trump chaos last week)... smashing through $2000, $2100, $2200, and almost $2300...

 

Bonus Chart - One of these things is not like the other...

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Shlomo Scheckelstein's picture

Don't buy physical gold and silver..

I love your wife's picture

Uh oh!  You're gonna get yeld at....

WTFRLY's picture

JOO WORLD ORDER LOADING... 92%

WTFRLY's picture

UNPACKING BTC FUCKERY 

AltRight Girl's picture

Everything is back to normal.

Kikesters love Trump and taking all your money in the process.

Questions? Forget about them, just look at the smokeshow.  (Less) Bread and MORE Circus !!!

First Lady Melania Trump Stuns Upon Landing in Israel


john doeberg's picture

Always keep your eyes on the jew. 

Oops, you blinked... there goes your $.

 

Chuck-Norris's picture

I have no horse in the race, but definitelly I wouldn't want mine to compete against a jew horse.

Stock market is like a casino. The house always wins.

 

Art Van Delay's picture

Those bitcoins fans will have a lovely surprise when SHTF.

Can't wait.

 

Mr 9x19's picture

it will be slowly possessed by corporation too....because of entry cost :

 

i remember 2002 when it was 2-3 usd.... i hesitated to buy to pay a torrent forum at that time, if i had bought 100BC in 2002, today i would have something like 230.000 usd.... so when i think about a 100 usd 15 years ago now valuated the price of a house, i think the world is very near about its end.

 

i have a simple reflexion today :

  • in south africa it is no longer poachers who cut the rhino's horn, it is the farmer, to sell it and save the animal, so basically what killed the rhino is now applied to em to keep them alive.

from this statment, who the fuck on earth, can still telling  all is fine , we do not walk upside down ?

i mean, it's as legal as plunge protection team to prevent  correction of market prices...

you seen what happened to ukrain couple of days ago ?

we need a total war to reboot mankind. i tell you. ASAP !!

 

Diatom's picture

Total war??

 

Not gonna happen.

754 active nuclear reactors...

TPTB are not stupid...

 

Miss Informed's picture

I am going to have to prop my eyelids open with toothpicks.

John Law Lives's picture

***   SPAM ALERT   ***

Do not click on AltRight Girl's link.

AltRight Girl = SPAMMING Troglodyte

Stuck on Zero's picture

There certainly a lot of clever ways of arranging deck chairs.

skinwalker's picture

Well spank my ass and call me Sally.

Fonestar was right.

Clock Crasher's picture

At these prices fuck no.  I'll wait for mass silver selling by the masses to raise liquidity to chase bitcon to occur. Then when silver is firmly in the single digits I'll then wait at least two years for it to base until I flirt with the idea. 

I like this world!!! world world (echo)

-Cyborg

Traderone's picture

I used some of my trading capital to buy Physical a few years back, worst decision I ever made. The remainder of my capital has grown by 70% P.A. but the Gold just sits there, looking at me like I was a tool for buying it as it hasn't risen in value by one iota. Ironically if I had waited and traded the capital instead then I could now buy 5 times the amount of gold .The Goldbugs on here are a fucking joke.

Clock Crasher's picture

Its called wealth transfer.

"Welcome to the party pal!"

 

Traderone's picture

So, I transferred some of my wealth to the Dealer? I'll get that bastard.

chicken_goose's picture

That's because you're incredibly short-sighted and part of the ultra-short term thinking generation that wants instant gratification on anything and everything no matter the cost in the long-run. I am well aware and fully prepared for my physical Gold and Silver to depreciate by even 50% in the short term (say due to a massive deflationary crash, which is likely coming), but I know that over decades they are well worth the price paid years ago. Stocks may be going parabolic right now (causing many to suffer from FOMO and jump on the train) but they can go to zero and right quick. Same can't be said of precious metals and other physical, tangible assets.

Traderone's picture

Your comment is verging on patronising but I'll let it go because you make solid sense. It was a mistake for me personally to buy gold because I can grow my money more successfully by Day trading ( both longs and shorts so I don't need a parabolic market to succeed). However if a person ls making a steady wage then it makes sense for them to buy Gold.

TeethVillage88s's picture

Do they market 'Collectables' of Jewish figure dolls? Some in orthodox clothing, some dressed as bankers, some jewish princesses, a wedding singer, a barmizvah & batmitzvah...

Celebrate, Rejoin, Adam Sandler is up for a Golden Globe or something at Cannes Festival... Palme D'Or.

We can celebrate our jewish brothers.

Marketing and Merchandising... Collectables instead of USD or BITCOIN.

Clock Crasher's picture

Silver. ALMOST seventeen FRNs AND seventeen CENTS. ALMOST +2%! Take THAT bitcon!!

/sarc

miners.... Still in the gutter.

Nice Try Lao Che's picture

Even with all the jew paper manipulation, they won't be able to push silver down under $15 again...

 

It still may take months b4 that happens.

jamesmmu's picture
We Are Witnessing A Startling Breakdown In Market Breadth. It Is Worse Than Both Prior To The 1987 And 2000 Market Draw Downs.

http://investmentwatchblog.com/we-are-witnessing-a-startling-breakdown-i...

Thought Processor's picture

 

 

Something is coming right around the curve.   

 

 

And I keep thinking, is Bitcoin increasing in value or is the Dollar simply losing value?   Hmmmm.

CJgipper's picture

Dollar losing.  Same reason stocks are up and USD is down; everyone knows they're going to print the crap out of it.

Rainman's picture

The T & T dance is funny but I think the Bitchcoin chart is moar funnier.

TeethVillage88s's picture

Currency war started in 2010 with QE.

Our Allies are Fools.

NDXTrader's picture

Melt-up into the jobs report, which should give the market a jolt (and they will try to put a scare into the Fed). 2450 here we come

Mat Cauthon's picture

I am extremely HAPPY for any of my ZH brothers and sisters who have made money investing in Bitcoin.

However don't try to sell me or anyone that it's a currency anymore.  It's a speculative investment that has nearly all buyers and few sellers.

 

Sounds like a bubble to me.  And money can be made in bubbles IF people are smart enough to take some profits.

Infinite QE's picture

Yeah, I'd love to see someone explain how they could get their million dollar position out. Crickets...

As corrupt and broken as the exchanges for stocks and currencies are, you can at least exit your position without crashing the whole charade.

CJgipper's picture

Seriously?  Just place a sell order.  Volume today was 276265 BTC or average of about 57M USD on GDAX alone.  And they're not even the biggest exchange.  Total estimated volume in the last 24 hours is 302M USD equivalent. 

 

You should look at the numbers before just spouting off.

GrokMarkets's picture

Bitcoin has shifted in its purpose in the last couple of years. While it still can be used as a currency, it's a bit expensive to do so. Now it has become more of a setlment layer. Think of gold that's backing currency.

There are many projects in the works to add second layer functions that will be faster (under a second), cheaper (than CC transactions), and more versitle (smart contracts). But these functions will still be settled on the blockchain, kind of like how when you pay with a card the store doesn't get the money for a few days until the transaction has been settled. Only with Bitcoin, it will usually be in minutes or possibly hours instead of days.

Remeber, bitcoin is still in beta. We haven't even seen 1.0 yet.

kochevnik's picture

Only fiat bubbles.  Fuck fiat

Clock Crasher's picture

Never see VIX close above 15

Never see VIX above 20 again

DELIST THIS PIECE OF SHIT!!

CompleteAphasia's picture

Bitcoin ~= tulip mania?

espirit's picture

 

Nah, you can eat Tulips with a little salt and pepper.

 

jfb's picture

Some kind of, but when you live an epoch where:
-The current fiat monetary system is going to hit a wall (with the abolition of cash and confiscation of some of your money at the bank
-Bullion banks hammering the price of physical gold with paper contracts

the tulip mania may last at least a few months before people start to question its technological viability to support a huge number of transactions/sec
Meanwhile, I started to bough some in January, even if I trust more gold in the long run

Conax's picture

I wouldn't dance a jig with all them a-rabs waving them toadstickers all around me.  Unless I'm dancing with a Thompson. With one of them drum magazines.

vegas's picture

How is VIX in the "9" handle? From what I saw today, it should be in the 2's. I can't ever recall once the market has been open a few minutes, of seeing the Dow30 have a 20 point range the entire rest of the day, and the SP500 have about a 2 1/2 point range. This is truly pathetic.

 

www.traderzoogold.blogspot.com

sinbad2's picture

Just imagine Trump in his plane flying back from Riyad singing in his best Johnny Cash voice

It burns burns burns, my ring's on fire, my ring's on fire.