Dow Hits 23,000 - There's Just One Thing

Tyler Durden's picture

Just four weeks since The Dow crossed 22,000...but thanks to Goldman, Boeing, Caterpillar, 3M, and JPMorgan (accounting for over 500 Dow points), the mainstream media's favorite index just topped 23,000 for the first time ever...


With the Top 6 names driving 50% of the index's move...


However, it seems options traders ain't buying it...

If everything's so awesome... why are investors buying Dow protection with both hands and feet?

As retail piles in, so professoinals are hedging to extremes.


Finally - for good measure - 'Industrial' Production remains well below 2014 highs... but the 'Industrial' Average is soaring...

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LawsofPhysics's picture

Yes, priced in Federal Reserve Promissory DEBT Notes...

"Full Faith and Credit"


The_Juggernaut's picture

wtf else are they going to do, buy protection when the price is low?

...and teh price of said protection has rarely been lower.  Who writes this dumb shit?

Chupacabra-322's picture

It’s the exact same Criminal PPT manipulated makets, money printing, mergers / acquisitions & stock buybacks.

So please, explain to me how the market has changed?

Took Red Pill's picture

and PM's are get hammered again. Same as it ever was.

Endgame Napoleon's picture

What will the cryptocurrency revolution do to the Big 6 stocks that comprise most of the stock market gains, while the overall number of public companies has decreased tremendously?

Not that most of underemployed America is helped by any of this—we aren’t.

giorgioorwell's picture

Countdown till Cheetoh-face claims credit...3,2,1..

peekster's picture

Claims credit then takes blame.

therover's picture

When have you ever heard that fucker take responsibility/blame for something that has gone wrong ?

Endgame Napoleon's picture

He is taking some credit for it right now in a press conference with the Greek PM, like all presidents take credit for anything good that happens on their watches, although — note — the stock market just further enriches those who take it all in America.

Underemployed America—less the citizen and noncitizen parents whose rent and groceries are paid by taxpayers, with a $6,269 child-tax-credit cherry on top—wilk continue to struggle to finance unaffordable rent, even if the stock market makes a billionaire out of every “working family” in the top 20%.

It is good that Trump took up for the Greeks, who get bullied by all of Europe, even though they invented democracy and contributed a ton to art. I am glad Trump did that. It seems like Greece used to get by fine. Maybe, they weren’t an economic powerhouse or the best financial managers on the globe, but they were able to navigate their own finances better before joining the EU.

giorgioorwell's picture

You don't seem to have watched Trump campaign when he was constantly saying we are in a bubbel, wall street is a sham, and the federal reserve interest rate policy is to blame...that or you're just saying Trump is exactly the same as every other POS president.

junction's picture

The bigger they are, the harder they fall.

The Dow Jones is like Harvey Weinstein.  Big, full of bravado but with a rotten core.  In the Dow's case, stock buybacks that inflate the value of many Dow components.  

Déjà view's picture

29,035..."Because It's There"

---George Mallory 1923

Liberaldisdain's picture

Guess all them ZH shorts are really riding up that crack today, and everyday since 2010. 

Haus-Targaryen's picture

All my short positions are covered shorts (fiat in exchange for physical AG and AU), and I can remain solvant a lot longer than you can. 

Haus-Targaryen's picture

Forgive me, I'm on my phone.  You understand perfectly well what I meant. 

D-plorable's picture

Sometimes people post on a small keyboard, or in a hurry. Sometimes ZH is visited by foreigners that don't speak or write English up to your standards. Please stop with the self righteous spell check.

Liberaldisdain's picture

Good, that means I am making even MORE money than you are.......had those shorts covered since 2010, have ya? lol

Haus-Targaryen's picture

You use this word "money" but its apparent you have no idea what it means.  Based on your statement, I take it you've taken cash off the table then? 

Had those shorts since 2014 and add to that position constantly.  I assume you're long nasdaq at this point? 

NoDebt's picture

I feel like I'm on drugs or something.


Chupacabra-322's picture

Well then, don’t Bogart it dude. Pass that shit!

ali-ali-al-qomfri's picture

Maybe he don't 'eerrr' that well. ;]

Emptykoolaidcup's picture

Absolutely meaningless.

FreeShitter's picture

23 on to 30 and 40....

syzygysus's picture

Just like Zimbabwe's stock market before it went to the MOOOOON!

Abitdodgie's picture

Has CAT made a profit opps sorry my bad .

SillySalesmanQuestion's picture

FED hits 23,000.
There, fixed it for you.

Fuck you Yellen and Bernanke.

mily's picture

This inverse VIX vs DOW comparison "option traders aint buying it" is utter nonsense

ffed's picture

BUILD THE MEATWALL Build The MeatWALL Build THE meatwall BUILD THE MEATWALL!!!!!!!! Gooooooooo trump   goooooooo who ever is on the other side of thrump goooooo whiteeee goooooooo balckeee  gooooooo gooooooo gooooooo goooooo goooooo gooooooo gooooooo goooooo

Bill of Rights's picture

STFU asshole, don't assume you have a following here...You don't

Bemused Observer's picture

A 'following'...I guess there are some ZHers who have a following. But the word always reminds me of hairdressers. When I see help wanted ads for hairdressers, they always say "Must have following".

I thought on it a bit, and wondered about this job offering where you actually have to bring your OWN clientele. What IS this nonsense? If you were a hairdresser so good that you had regular customers who follow you around, then why the fuck would you NEED that lousy job? You could 'do' them at your kitchen table and NOT have to split the proceeds with a salon. A salon that apparently cannot even attract its own customers...

ffed's picture

I post freuently now to get  through all the SHIT thats piled up over the years.  There's alot.  I got nothin but truth and LOVE. PEACE!

Racer's picture

Of course the Goddam Suckers had to be on the top!

hotrod's picture

Forget about TAX REFORM,  economy and markets are GRRRRRRRREAT!

Sky flyer's picture

Can’t wait for the meltdown. Been waiting too long though. Keep the popcorn in dry sealed jars for a long shelf life.

Byrond's picture

The faster it goes up, the sooner it goes down. Many people in the know are surely waiting eagerly for the exciting times ahead when the changes occur. Right now it's all pretty boring. The elite found out how to get most of the wealth, but they want more, so they have to cannabilize to get more and more. Remember, when you're at the top, wealth is relative. Calamities that ruin the majority can result in vast prosperity and power for those at the top. 

ByTheCross's picture

Think bigger.

No dynasty machinates for centuries simply so that a few lazy descendants can live a life of luxury for a couple of decades.

onthedeschutes's picture

Not sure what I should make of this.  I'll wait to hear what "One Trader" thinks.

Manipuflation's picture

A few years is nothing.  Here is my BTC blockckchain wallet.  One cent.  Show me.  Just one cent.  It is not hard to figure this out.  Come on bigshots lets trade a penny.  What?  Not so smart now?  Otherwise, shut the fuck up.  Your blockchain is compromised.  


RationalExuberance's picture

This "protection" that investors buy has this thing, called "delta", and this delta is negative -- which, when the street hedges the trades, creates a downward pressure on the market. And as long as people are silling, there is still room to move up. 

hotrod's picture

Surely the Fed is selling its bad debt into this rise

Seasmoke's picture

Only 13,000 away from my Dow 36,000 prediction from years ago. I'm feeling so smart today. If I just ignore I'm 95% invested in Gold !!!!