Tech Stocks Jump But Banks, Bond Yields, & Black Gold Dump

Tyler Durden's picture

Tech stocks bounced today (perhaps on AMT chatter) sparking a chorus of confirmation-bias-based commentary that the bull is back... but we suspect that parrot is still dead...

 

Ugly night in Asian equities but it appears The National Team stepped in during the afternoon to save the world...

 

"It ain't cheap..."

 

Small Caps were today's biggest loser as Tech-heavy NASDAQ outperformed...

 

For the second day in a row "Most Shorted" stocks were lower...

 

For the second day in a row, VIX was down with stocks...

 

For the second day in a row, high tax stocks underperformed low tax stocks...

 

For the second day in a row, tech outperformed financials...

 

FANG stocks saw BTFDers at the open...

 

Goldman is now lower on the week post-Tax vote...

after Citi cut its trading revenue outlook... and said that the tax reform would cost them $20 billion!!

High yield bonds continue to slide...

 

Treasury yields declined across the board today as the long-end outperformed once again... (all but 2Y yields are now lower on the week)...

 

And so the yield curve just keeps tumbling...2s30s hits 88bps handle today and 5s30s 57bps handle (both down 1-2bps

 

The Dollar Index rallied for the 3rd day in a row...

 

Bitcoin surged from $12,000 to over $13,000 in the last 24 hours...

 

Commodities are suffering across the board with crude (on target for worst week in 7 months) and copper (on target for worst week in 19 months) worst...

 

WTI/RBOB really giving up their OPEC-hope gains...

 

Finally, some might say "we're toppy"...

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Hammer823's picture

2 trades for $1,000 profit today. More than most make in a week.

Buying the dip in a market rigged to go up is like an ATM for the wealthy.

Solosides's picture

More like a cushy casino resort hotel with hidden trap doors that drop you into a giant meat grinder

ParticularlyStupidHumanoid's picture

Yep. Your true wealth is measured by how many gold coins/rounds you have. Period. But gambling is smart, because some casinos apparently have guarantees against losing.

FreeShitter's picture

 Nice I snatched 3500.00 from SQ the other day

Kobe Beef's picture

up 2K on Natural Gas puts

D.r. Funk's picture

Oh, right, and scams and schemes go forever

It's a scam or scheme or combo, you're a fucking tool for celebrating it like a candy shoppe handout

You're gonna look stupid in history when it's stamped forever you fell for it, believed it, and lauded it

And it'll be ending soon btw chuckle chuckles

 

TheSilentMajority's picture

Monty Python(and SNL) does not age well. Or was it DOA?

BTW, why no Tulip bulb price charts???

ShorTed's picture

because nobody's been investing in them for the last 400 years...c'mon get with the times!  When everyone you know is either "in" or talking about getting "in" to Bitcoin, then you have your burst the bubble moment, until then...

scintillator9's picture

The escalator up is nice, that trap door at the top, not so much.

The write off of $3K per year in losses is insignificant compared to what one pays out in capital gains taxes when one does not dodge that trap door.

I am sure that one is much more clever that I was, though.

FreeShitter's picture

They just keep rotating money out of diff sectors is so obvious lol. When those yield curves collapse, its going to be heard around the galaxy, bitchez.

Hammer823's picture

The same intraday programs run day after day year after year.

Every once in a while they mix things up.  

But 90% of the time, the same trade works.

This would no be possible in a free and competeive market.

It IS possible in a market that has been Nationalized and is managed by Central Banks

LawsofPhysics's picture

Correct.  However, all "stimulus" is fungible...

..all those paper/digital promises/claims are beginning to seek out real assets all over the world.

Keep printing motherfuckers, keep printing.

"Full Faith and Credit"

LawsofPhysics's picture

Seems like it was just yesterday that I put my DOW 13K hat on...

free fucking money bitchez...

...the dollar is "strengthening" again, buy mortimer buy, that can't last long!!!

"Full Faith and Credit"

 

Hammer823's picture

Have to find a local hatmaker.  Dow 19K...20K...21K...22K...23K...24K... all in less than a year.

ParticularlyStupidHumanoid's picture

WOW THESE SILVER PRICES ARE AMAZING!!!! BTFD!!!

GunnerySgtHartman's picture

PMs on sale, step right up!

Clock Crasher's picture

next week.  I'll be trying to catch me a big fat wick.  

D.r. Funk's picture

Sub 11 vix, again, teeters. On evisceration. Because, sub 11 vix is not normal. (As much as the notion wants to be pushed that it's just "a low volatility environment", it's not normal) Once it exits it's existence on this "round", it's likely over for quite a long time. [I'm pushing pushing pushing the death throes. and salivating] And of course the notion that it's 100% concocted because they were suppressing vix 3+ years ago and the 9 handle 10 handle that started around the presidential transition period is (extremely) hard to argue is not fake. (ie not from the same forcing) ...but... ...whatever...

==

SUB 11 VIX will, die, forever after this round

==

3% DRAWDOWN LAPSE not gonna hold forever

==

ADDITIONAL LEG closer to having its run, ended

==

PROGRAMMED ATH PSYOP ' cant go forever '

Clock Crasher's picture

The Dow and Gold are going to meet at 1,000

U4 eee aaa's picture
First They Ignore You, Then They Laugh at You,

 

BTC is somewhere around here right now


Then They Attack You, Then You Win

 

adr's picture

Hi, I'm worth over $3 billion thanks to my website that spouts nothing but bullshit and was made on a cheap website builder template. But really I'm not a valueless idea, I'm worth BILLIONS thanks to the insanity of the Cryptocurrency market and the gullibility of Asians. In fact I am now #10 on the cryptocap chart.

MEET CARDANO!!!!!

Looks like $3 billion to me.

https://www.cardanohub.org/en/home/

Clock Crasher's picture

Silver Gold ratio 79:1

JohnGaltUk's picture

I am buying bitcoin first thing, it will be $14,000 tomorrow.

adr's picture

If you bought $2 worth of Einsteinium in January of this year it would be worth $27,000 right now. $100 would have comfortably made you a millionaire even after taxes.

Bitcoin shitcoin. Imagine if you gambled on one of the garbage cryptos.

And they say it isn't a bubble.