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Initial Rally Fades In PMs, FX, And Equities Post LTRO
EURUSD and equity markets are undecided, European sovereigns have rallied modestly back to earlier day tights but no further (and Portuguese debt is underperforming), and credit markets in Europe are leaking modestly wider so far. The biggest movers initially appeared to be AUD (carry FX as we noted earlier) and the precious metals (with Silver outperforming Gold so far). Cable (GBP) is weakening relative to USD and EUR and that is holding DXY up a little here. Treasuries are doing better. As we post, the USD is now strengthening, ES is losing steam, and gold and silver are slipping back. CONTEXT is lower than pre-LTRO as risk is leaking off for now.
Trying to aggregate all the moving parts, we note that CONTEXT (ourt broad risk proxy) is now lower than pre-LTRO but there remains a lot of volatility in the various assets:
European Sovereigns this week are unch but Portugal is really starting to lose it again...
Corporate credit markets are also leaking wider (lower on the chart) as financials modestly outperform for now...
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More time to stack....
... and time is money! ;-)
Gold and Silver, to the moon Alice!
Must be time for a PM smack down.
Cmon boys do your stuff, truck is waitin...
Silver expiration today? Smackdown, you say? They will make the good effort. The closing price remains to be seen. But as of today, there is a ton of new liquidity out there and no shortage of chart monkeys who realize silver is a better bet than stocks...
I too have been waiting for one. Not that I like loosing value, but I am not really loosing anything since I own only physical. It's the folk that hold cash that think it's purchasing power has somehow magically increased, despite being printer all the time. So why not use that and enlarge my pile a bit cheaper this time around?
If you have a truck for buying silver after the smacksown, why didn´t you just go last month and bought at the same prices?
Oh shit I never thought of that.?!
Lest we also not forget the shitty (core CPI & CPI eur YoY prints) a little while ago.
ltro v2 := priced in
Silver is above 37. What smackdown?
You know -you can see market manipulation in play.
Numbers come out - stock futures head up - until people realize 800 banks are broke as a joke. Numbers start coming down and the printing presses start up again. Can't let reality into the market.
When I saw 800 I thought oh shit. Anyone know how many bnks had access to it? Is 800 75% or 50% or 25% of the number of banks that asked for it?
So now the number is being reported as 713 billion.
Somehow this is better than 529 billion.....
Futures still going up.
They are even broker than thought - and this is bullish?
US Dollar is crashing.
just take the 50 yr fuel price chart and turn it upside down
there is no recourse left for the psychopaths in power other than to start printing ten thousand dollar bills
Global Rally is here to stay. Buy Equities / Gold / Silver / Short Dollar / Long Euro - Forget what ZH Reports. Always the opposite happens. Buy Buy and Buy.
How many opposite of the opposite iterations do you recommend? And BTW, where shall one start?
We are in a "New Bull Market" across the Globe
GLD & SLV
sheepgetslaughtered.blogspot.com
Todays move by the ECB and soon the Fed is supposed to be a backdrop for bankers interest in buying soverign debt....I bet some of it leaks to PM´s.....
@ Youngman - Your pic suggests that lately you have been trading EUR/USD Pair.
More like I have been trading beer for vodka....
spx about to crash priced in silver.
http://stockcharts.com/h-sc/ui?s=SPY:SLV&p=D&yr=1&mn=0&dy=0&id=p12494010995
its obvious that an important support line just broke. strong down trend will continue
this is the last ltro, and the take up is not good.
http://www.jinrongbaike.com/ http://www.cnhedge.com/
I heard farmers in Brasil said that they too are willing to sell their food and other products for non-dollar currencies and would give a considerable discount to any country that would trade in Gold
I love those silver tongue bitchez.
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