Mid-East Crisis? Tax-Deal DOA? - Buy The F**king Record Highs

Tyler Durden's picture

2 dead Saudi princes, dozens arrested, billionaires' assets frozen, and John McCain calling the tax deal "DOA" - B-T-F-Record-Highs!!

 

On the day, only one thing made some rational sense - gold outperformed (seemingly suppressed until Europe closed), as perhaps just perhaps some sane individuals reached for a little safe haven asset instead of selling vol (did uncertainty about the future increase of decrease after what happened in Saudi?) and buying stocks...

 

All the major US equity indices bounced hard off overnight weakness then extended gains trhough the US day... Nasdaq (green) outperformed and Dow (blue) lagged S&_ (red)

 

With only Trannies red on the day...

 

The S&P 500 is now within 7 points of Goldman Sachs' 2019 year-end target (yes 2019!).

VIX drifted lower all day in a very small range from a spike open higher but some serious illiquidity was evident in the pre-open...

 

Vol collapsed in everything last week (but note a small bounce in Oil Vol today). This is a new record low for Rates volatility...

 

Some chaos today in the media markets as Fox and Disney were reportedly in talks once upon a time and that took the edge of Netflix...

 

One look at the Saudi stock market tells you what you need to know about 'rigged' markets...

 

No bounce at all in high yield bonds today...

 

Treasuries opened higher in yield overnight but were bid from then on, ending down 1-2bps with the long-end outperforming...

 

The yield curve contonues to flatten...

 

The Dollar index tumbled today - erasing the post-payrolls gain...

 

Cable strength was the biggest driver of USD weakness with EUR Unch...

 

Bitcoin slid today also as USDJPY began to slide, droping from a new record high at $7590 over the weekend to $6932  before bouncing back above $7100 into the US equity market close...

 

Gold jumped back above its 100-day moving average...

 

WTI Crude reacted as expected - surging beyond $57 on Saudi uncertainty - the highest since July 2015...

 

Finally it appears the draw of Copper/Gold reflation signals has lost its mojo once again as 10Y yields turn lower...

 

So - VIX Up, Stocks Up, Bonds Up, Gold Up, Oil Up... Dollar Down (and Riyal Forwards and Kingdom Holdings crushed)

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IH8OBAMA's picture

Plus, Fatso KimUn may launch a nuke over the Pacific tomorrow.  WWIII here we come.

 

Solosides's picture

Here in Seattle, a nuclear explosion would actually clean things up a lot

Solosides's picture

We dont discriminate! Were more than happy to share the nuclear love!

The Bell Rang's picture

Bullish............

ArmaG3don's picture

It's the path to land of dreams and fantasies free ferrari to every man and woman and 200$ oil price.

Really if it's going to be this parabolic oil will follow.

D.r. Funk's picture

The attribution of ATHs by trump siders or trump media is -so- flawed. There were 3 or 4 distinct durations in 2nd term obama exactly same. 'one after another seemingly ceaseless', highly highly suggestive of rigging but regardless. Most of you at the very least know "BofA: $2 Trillion YTD In Central Bank Liquidity Is Why Stocks Are At Record Highs" http://www.zerohedge.com/news/2017-09-15/bofa-2-trillion-ytd-central-ban... The omittance of every, general, bubble, peak, backdrop is un real. Being said and noticed all over in 07: stock market ATHs. The automatic notion of sustainable actual strength? The memory hole is amazing. Most of you rightfully so were saying ...for the longest time... rigged for obama. So it represented manipulation then, and the gains were with the total opposite ideology, but now represents full breakout, and from the inverse ideology of who it was generally setup for, and, CBs being mostly responsible for the lifting. There are regular people parroting "yeah, just look, stock market all time highs, like, every week now"......

(I am a trumper)

==

SUB 11 VIX STREAK will die, after this round, once and for all

==

1% 3% DRAWDOWN LAPSE closer to ending, they know it

==

ADDITIONAL FORGED LEG closer to ending, they know it

==

RELENTLESS SPATE OF ' CONSECUTIVE ' ATH-CLOSES can't go 'forever'

Shiller pe 31.63 (2nd place) 4.5% over 1929

87% above mean 96% above median

 

Snaffew's picture

i think i've read that same post for months now...cut and paste onto new daily highs---

D.r. Funk's picture

This is the definitive version

Anarchyteez's picture

Tyler’s great headline!

Now if we could just get Bevis and Butthead doing it. Epic.

adr's picture

Well we all know what we're getting for Christmas, $3.00+ regular gasoline with oil at $60!!!!!

$1.82 RBOB? Really?

What happened to the $.20 per $10 increase in a barrel of oil? I guess it is $.50 now.

Nobody is going to put a stop to this manipulated bullshit?

Clock Crasher's picture

It's got less to do with mainpulation and more to do with inflation of the currency supply... all of them.  

Insiders are using oil and commodities to front run the inflation and rotation from growth to value. 

If & as long as silver out preforms gold and gold out preforms oil and you have silver then there is not too much to worry about. 

Conax's picture

..put a stop to this..

No.  It's a matter of tribal security.

D.r. Funk's picture

No, it's a greater fool theory with political power force

TradingTroll's picture

In Vancouver Canada, regular is C$1.47/l. When oil was $146 a gallon in July 2008, we paid $1.60/l. Now there has been some weakening of the Loonie in the order of 15% since July 2008, but with oil prices, adjusting for Loonie weakness, at 50% of the 2008 high, gasoline shouldnt be 90% of the old high.

 

 

 

 

Rainman's picture

Just for shits and giggles, 6 months ago Squid upped the S&P target for '17 to 2400

Clock Crasher's picture

BIG day for Goldmoney +12%

Expecting a pull back but like bitcoins rise it's not happening

Now up +220% since summer

Wonder what happens if it acutally trades more than 1 million shares in a single day, which is has yet to do this entire year

There's still hope 

First Majestic trying to put in a reversal

Ryland's picture

I halfway opened an account at Goldmoney but it seems a bit confusing with small fees here and there. Have you actually used them? Seems like a good idea if you want to hold your spending money in gold, but history would tell you that eventually they won’t really be storing the gold.

Bigly's picture

Dear Bitchez, it's been mark to make believe for over 10 years....

Conax's picture

The same day Bozos sells some Amazon paper gold paper gets a bid.

Hmmmm..

ReturnOfDaMac's picture

Juicy returns, BULLISH.  BTFD.  BTFATH.  BUY BUY BUY

ReturnOfDaMac's picture

Tools make money. Fools talk smack.  Get out there, just STFU and BTFD.

D.r. Funk's picture

tool of the illusion, all a ruse and you're a compliant pawn

ReturnOfDaMac's picture

It's no illusion.  I've been up 8 years in a row.  How about you, doomer?  Stack may weigh the same but how much profit have you pissed away with the illogical, immature, profitless obsession with TEOTWAWKI?  Wake up, buck up, and buy up.  BTFD while there's still a dip to buy.

D.r. Funk's picture

Are you that brainwashed? And i'm not a frothing-profit seeking trader, i'm participating for legacy, principle, and truth, and I fully contend you are a tool &pawn of the next financial calamity. You can still trade, but you are a tool, and I can call you what you are

zagzigga's picture

Where  is Kaizer Sousa? 

Late onset ADHD's picture

hypothecated exuberance... better than good surf... with sharks...

BlueHorseShoeLovesDT's picture

The “market” doesn’t want the tax bill as written.

NDXTrader's picture

I hope the “oil is a headfake” guy had a good stop-loss

HominyTwin's picture

Stop losses are for fags!