Market Responds To Coy Fed

Tyler Durden's picture


The initial knee-jerk response to a lack of Twist-extension or QE3 on the table was a notable drop in Gold prices, strength in the USD, Treasury yields rising (with 10Y popping back over 2%) and a big fat unch from stocks (and AAPL). The last 15 minutes have seen all of these markets pulling back from their abysses with 10Y now rallying back to unch from pre-Fed, the USD leaking back higher and Gold and Silver (testing below $30) pulling back off their lows. AAPL has leaked lower but the S&P 500 remains practically unchanged (though Energy and Financials are outperforming as Healthcare and Industraisl are underperforming) and VIX has dropped a little. EURUSD is now very slightly lower than pre-Fed. It seems the market would rather wait to look Ben in the eyes at the press-conference before really pulling any triggers.


Silver back to 3 month lows (but contextually not a huge move in eother gold or silver - yet)...

and while stocks are inching up broadly, energy and financials are popping while Industrials and Healthcare underperform...

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Wed, 04/25/2012 - 12:55 | 2373894 Squishi
Squishi's picture

Are markets fully retarded yet???? YES THEY ARE and the bots are taking over...

Wed, 04/25/2012 - 12:55 | 2373897 xtop23
xtop23's picture

If you have dry powder use it.

Wed, 04/25/2012 - 14:54 | 2374520 MonsterBox
MonsterBox's picture

google "Matthew Owens Beating".

no mainstream coverage.

sorry for the highjack, but after all that trayvon crap, now this.

Wed, 04/25/2012 - 12:56 | 2373903 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

Never go full retard.

Wed, 04/25/2012 - 13:23 | 2374029 xtop23
xtop23's picture

Did you just see the bounce?

When a market is this insane you have to play it just as insane.

Wed, 04/25/2012 - 12:57 | 2373905 WALLST8MY8BALL
WALLST8MY8BALL's picture

Those Evil Natured Robots. They're programmed to destroy us!

Wed, 04/25/2012 - 12:57 | 2373910 Squishi
Squishi's picture

Nature ? are you a fed student? 

Wed, 04/25/2012 - 12:59 | 2373924 WALLST8MY8BALL
WALLST8MY8BALL's picture

The Flaming Lips - "Yoshimi Battles the Pink Robots"... Check it out Squishi!

Wed, 04/25/2012 - 13:02 | 2373938 Squishi
Squishi's picture

now I want to dropKick ben in the face!

Sat, 05/05/2012 - 03:40 | 2399024 jaffa
jaffa's picture

Students purchase a raffle ticket that gives them a chance to win the privilege of throwing a pie at the teachers of their choice. To incorporate the fact that this is a fundraiser for the Gulf oil spill, the fundraising signs could invite students to "make a mess to help clean. Thanks.
signs of diabetes in pets

Wed, 04/25/2012 - 12:55 | 2373895 fonzannoon
fonzannoon's picture

Dennis Gartman is short gold as of 12:53pm. He will update again at 12:57Pm.


Wed, 04/25/2012 - 12:59 | 2373919 VonManstein
VonManstein's picture


Wed, 04/25/2012 - 13:08 | 2373964 ihedgemyhedges
ihedgemyhedges's picture

Please do not speak on my behalf.  When I trade, I let people know accordingly (depending on how it turns out).  See below.  D. Gartman

Wed, 04/25/2012 - 17:44 | 2375005 Jack Napier
Jack Napier's picture

Just stick to what you know, Dennis, anything but gold.

Wed, 04/25/2012 - 12:56 | 2373901 DaveyJones
DaveyJones's picture

coy fed act nearly the opposite of fed coy

Wed, 04/25/2012 - 12:57 | 2373912 Kastorsky
Kastorsky's picture

Bernanke's childhood photos found

Wed, 04/25/2012 - 12:59 | 2373921 xtop23
xtop23's picture

You just killed my screen tyvm.

It now has coffee all over it because of the photo you posted.

Wed, 04/25/2012 - 13:18 | 2374005 BLACK_DOG
BLACK_DOG's picture

i think i peed my pants.

Wed, 04/25/2012 - 13:00 | 2373930 WALLST8MY8BALL
WALLST8MY8BALL's picture

That's ManBernKrug!

Wed, 04/25/2012 - 13:20 | 2373991 BLACK_DOG
BLACK_DOG's picture

are you an "anti-stimulus"

Wed, 04/25/2012 - 15:01 | 2374539 MonsterBox
MonsterBox's picture

Bravo!  Well done.

Wed, 04/25/2012 - 12:59 | 2373918 meatball
meatball's picture

What? The Fed didn't cut rates to -0.25%?

Wed, 04/25/2012 - 13:00 | 2373925 cnhedge
cnhedge's picture



An update on TARGET2

Wed, 04/25/2012 - 13:00 | 2373926 Xue
Xue's picture

Low rates at least till late 2014. Isn't it bullish enough for gold?

Wed, 04/25/2012 - 13:03 | 2373947 VonManstein
VonManstein's picture

DXY coming back down.. PM approaching pre release levels.. it aint happeing..

although i could be jumping the gun here as we are due the BB later.. but really.. i think thats all for this time folks

Wed, 04/25/2012 - 13:04 | 2373948 azusgm
azusgm's picture

So does this mean that the Japanese can impose austerity on the ink budget as long as the euro doesn't fall against the yen?

Just axin'.

Wed, 04/25/2012 - 13:07 | 2373961 BlackholeDivestment
BlackholeDivestment's picture

Awe, littol Chairsatan, Zero the Hero, time for a Tony Award.

Wed, 04/25/2012 - 13:13 | 2373984 geewhiz190
geewhiz190's picture

What Caterpillar said about weakness in China and Brazil is probably going to be more significant than the Fed's statements, which are a waste of time.

Wed, 04/25/2012 - 13:14 | 2373988 LongSoupLine
LongSoupLine's picture

Bots taking SPX to 1400 in one fucking day.  What a complete anal ripping this fucked up system is.

Wed, 04/25/2012 - 13:15 | 2373990 Nothing To See Here
Nothing To See Here's picture

Newt Gingrich just cancelled his campaign and the algos didnt like it.

Wed, 04/25/2012 - 13:16 | 2373993 I should be working
I should be working's picture

Has the unthinkable happened?  Is the market not going to implode every time easing is taken off the table?  I guess no one cares that half the Eurozone is in recession either, or on the horrible durable goods report...  

Buler, Buler...

Wed, 04/25/2012 - 13:17 | 2374001 Peter K
Peter K's picture

It's called shock. Hasn't sunk in yet:)

Wed, 04/25/2012 - 13:16 | 2373997 Peter K
Peter K's picture

Hopium, baby :)

Wed, 04/25/2012 - 13:24 | 2374035 Confundido
Confundido's picture

Anyone was really surprised by the sell off in gold? Come on... 


Wed, 04/25/2012 - 13:41 | 2374115 magpie
magpie's picture

Sometimes i wonder if the Bernank likes some "tradition" in his own portofolio too...

Wed, 04/25/2012 - 13:41 | 2374118 MFL8240
MFL8240's picture

Hey folks, you are being gamed by these liars.  They dont know what the hell they are doing, they have ruined this economy AND yes, they are still printing money and buying their own debt.  So for those suckers who buy their bullshit, I wish you well.  

Wed, 04/25/2012 - 18:13 | 2375077 SILVERGEDDON

Go long on ammo. Food. Firewood. Seeds. Tools. Fitness. Knowledge. Friends who think the same way. Invest in a new way of thinking. It will pay out a really good dividend. Oh, and invest in rope for yesterday's movers and shakers who got us here.

Tue, 06/26/2012 - 02:42 | 2560680 shopia
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