The Schizophrenic Market Update - Buy The Rumor, Sell The News, Then BTFD

Tyler Durden's picture

It's been 20 minutes and in that time we have been entirely depressed as every risk-on asset dumped to the day's lows or lower and now we are entirely euphoric - there is still hope - as Gold/Silver make new highs, stocks recover all their losses, Treasury yields continue to fall, and EURUSD does, well, we are not sure really... Meanwhile, European Sovereigns are all cracking wider...


Gold and Silver chaos...


S&P 500 futures rip-dip-'n'-rip...


EURUSD Algo-mania...


meanwhile EGBs...


Charts: Bloomberg

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malikai's picture

We've tracked today's actions throuhgout the day.

blindchicken's picture

malikai, it wont help to promote a website with black text on black background.

malikai's picture

There's no black text on a black background. The text is white. Are you really seeing black/black?

What browser are you using?

Nobody For President's picture

The chart text is black (or dark grey) on black, text essentially unreadable (Chrome).

flacon's picture

Ben finally figured out that the more money he prints the less there is - and the metals can not be stopped - not now, not ever. 


And who ever said that the options people were smarter than the rest have been proven correct. :)

NotApplicable's picture

One foot on the brake, and one on the gas!

Man there's too much bullshit, I can't pass!


Crisismode's picture

You haven't tracked anything.

You've got a couple RTF charts up, with zero analysis.

Looks pretty unimpressive, actually.



malikai's picture

Shame, really, because if you actually look at the charts, you will see something quite different than you describe.

Anyway, human analysis is not our forte. We do machine analysis.

max2205's picture

The more headfakes, the better.


Love and kisses,



boribori's picture

It looks black on black on my chrome. Impossible to read antyhing. 

malikai's picture

We've checked chrome/windows, chrome/osx, ie/windows, mozilla/windows, and mozilla/osx all showing up fine. I'll take all you guy's words for it and we apologize, we will try to find out what the cause is.

surf0766's picture

He's not doing anything before the election

DeadFred's picture

Nah, the primary purpose in life for an algo is to hunt for stops. Every fool who thought the market would dump had a stop in case Ben decided on handing out the free candy. Once those stops are eaten up the market will start it's decline. Be patient Grasshopper we will soon have Prez Mitt who will solve all out problems /s.

CrashisOptimistic's picture

Stops are an emotional vehicle.

There are no humans trading.  It's all algorithms.  So there are no stops.  And thus, no hunting.

What is going on is the phrasing of the news reports on the wires is varying.  The headline reading algos are going in different directions as each appears.

Deo vindice's picture

Anyone who gets depressed or euphoric over the price changes in gold and silver in a matter of minutes really doesn't understand why they should buy PM's in the first place.

Look at what they have done over 10 years, not 10 hours and especially not 10 minutes.

dannyboy's picture

this was the craziest shit ive seen in ages.. watching it do that.. EURUSD was just as bad tyler.. crazy algo's going wild

not fat not stupid's picture

Cant mess with EOM marks.

YesWeKahn's picture

expect the unexpected

Poule Mouillee's picture

... and expect it when you least expect it.

SheepRevolution's picture

This reminds me of my uncle's EKG-graph he took 24 hours after smoking crack.

FubarNation's picture

Efficient markets.  Nothing is wrong.  Carry on.

CrashisOptimistic's picture

This is the clearest evidence I have seen that there are indeed headline reading algorithms running trading.  The phrasing of the speech on the news wires is varying.  Some say "he hints at easing" some say "he will not take any further action because of uncertainty about unconventional policy".

As each arrives on the wire services, the algos do different things.  

101 years and counting's picture

price staabbiiiiiiliteeeee.

Dollar Bill Hiccup's picture

Don't like the market? Wait 5 minutes ...

Ben is jawbowning. Or propagandizing. And it's working.

Xibalba's picture

Ok, I'll say it.  FUCK YOU BERNANKE!  And Especially YOU Potter. 

BeetleBailey's picture









chancee's picture

Bernanke knows the trade-bots have his back. Touting another QE is completely unecessary.  Why doesn't everyone understand this?

Cursive's picture

There a so few left to sell.  All the hedgies, institutional buyers and MM's are the bagholders.  They will do anything to keep this turd of a market afloat.

drivenZ's picture

so hows that treasury short working out for CS?


As i said....

"he's actually been pretty predictable. everyone already knows there won't be QE, which is why this trade won't work. Buy the rumor sell the news. Treasuries will probably rally a few bps. "


Muppet of the Universe's picture

welcome to the broken market.  Where inflation sends commodities up, equities with with threats of qe, and bonds up with OpTwist.  Yea...  I can't wait for the algo flash crash.  This is gonna be so much fun... o wait.  no it isn't.

fonzannoon's picture

I keep staring at my silver....It's not moving at all...WTF?

Look at treasuries go. wow. Nothing makes any sense.

CrashisOptimistic's picture

Treasuries are where terrified money goes.  There is a lot of it, both in the US and in Europe.  And there will be more.

Consider what the upcoming negative nominal interest rates will mean.  Banks will pay you to store money in your mortgaged house.

fonzannoon's picture

should be interesting to see rates go negative in concert with the usd selling off. one of them has to give

CrashisOptimistic's picture

Well, fonzandood, this is one of those moments where one loses the plot.

Money is meaningless.  Money is an artificial creation.  Adam and Eve had no money.  Money wasn't invented for thousands of years.

So the USD selling off means nothing.  Nor do interest rates, particularly, but they are somewhat compelled by deflation derived from oil scarcity.

Economic . . . and ALL . . . activity must decline.  That defines everything, including rampant confusion.

fonzannoon's picture

Maybe...but I am going to head out to buy a sandwich for lunch now. The guy making it wants about $7. Until he wants a silver dime or or me to wash his car you can stick your name calling up your ass. When he does want that, I have plenty. So I guess you can stick your name calling up your ass either way....

ParkAveFlasher's picture

CIO, your comment, "money is an artificial creation", is itself an artificial creation.

All natural things exchange energy via intermediaries.  "Money" is the word we use to describe the specific, agreed-upon, accepted medium of two human parties involved in a exchange.  It is an inanimate broker of the exchange. Meditate on that! 

mikecagg's picture

This is a sick world we live in. 

Madcow's picture

I am so confused :( -  Does this mean i should close out my Morgan Stanley account and move to Schwab? ?

treasurefish's picture

No.  The reason you are confused is obvious.  You are too lazy, too illiterate, and/or too liberal.  If you had read the article instead of just the title, then you would close all your accounts and buy gold.  

ebworthen's picture

Binary data machines and software trying to parse the logic of a PhD human economist.


MsCreant's picture

A soap opera through charts.

Like fiat currency through the printing press, so are the days of our lives.

Conman's picture

Bob Piss-on-me saying humans like him are buying becuase they are smart because they can read.

HardAssets's picture

Day trading ?

More like  minute trading

Dr. Engali's picture

Minute trading? More like millisecond trading.

HardAssets's picture

Yeah, a minute feels like a month