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Spot The Odd One Out
The post-EU-Summit exuberance has entirely worn off in everything that mattered to the EU-Summit 'bulls' as EURUSD and both Italian and Spanish bond spreads are now back wider than pre-Summit. However, there is one market that remains ignorant of anything aside from algo-driven VWAP reversion and the incessant hope for another round of central bank largesse. Can you guess which one?
EURUSD (yellow), Spain 10Y spread (red), Italy 10Y spread (orange), and S&P 500 e-minis (green)
Chart: Bloomberg
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Green is good, no?
They need another EU Sumit, it would help the markets, but this time make it a month long sumit
Like a perma-summit, fixing problems till they die of old age.
Sounds like Congress.
Struggling for new ES highs? Come on bulls, push!!!
You don't want to blow those trendlines. Let's go people.
"Sounds like Congress."
As long as the "fixing problems" part is said with tongue firmly planted in your cheek...
Classic idea....please report to Brussels for the job that awaits you!!!!!
So, anyone heard anything about Greece lately? I guess all their problems were solved, and we only have to focus on Spain for now.
Carry on.
Green chutes
insanity disconnect defined.
Nah, the Bernank plays favourites. That is all.
Buy OIL, Sell SPY
Why would Oil go up?
Sell them both.
Massive divergence beginning Mar 2012.
agreed
Good deal! Nothing but apple is back en vogue!
Woot!
#americafuckyeah
Bloody muppets. Amazing there are any left.
Nah...
Its all PPT and Associates..
All investors have left the building long time ago.
Idiot equity bulls still plying for their "Summer Surprise Rally"... If this is the best lift off you can get on a global CB policy coordination day, u may have to hang up the horns. Only Uganda can bail you out now.
Equities "found a new way to make money" :)
SPX on Highs! Hopium helping.
Sickening. America, payback is going to be the biggest bitch ever.
Why am I not surprised the ES are manipulated? What's worse? The mini Nasdaq futures, imho.
Nasdaq is the worst. Sybolizes everything about America now. Sky-high valuations, greater fool gambling, tech fetishes, and consumer excess. And guess who has the best performance this year, over all other global markets and commodities (not sure about bonds)? Tells you everything you need to know about the world's priorities and what it means for our future.
Decoupling bitches!
Clearly that is the result of having the deepest and most liquid markets in the world. ~sarc~
I didn't know Wyl E. Coyote's green bat suit had a vapor trail.
The best money is made from shorting stupidity. Let the ramp go on. They're going to give us a sweet spot to go bear and they'll take PMs down to their year long supports at least once more. So kind of them.
Fuck you, Bernanke!
No, I think you'll find Bernanke is doing the fucking. The poor, the middle class, seniors, etc.
http://www.rollingstone.com/politics/blogs/taibblog/another-domino-falls-in-the-libor-banking-scam-royal-bank-of-scotland-20120629?utm_source=twitterfeed&utm_medium=twitter
First the SPX crashes.
Then they close it...
Brian Sack's replacement has no sense of drama or anticipation.
What's the prize if I guess correctly? Is it a goldfish? If it isn't a goldfish I'm not playing.
What is Estimated Time of Gap Full Compression on this gap?
I am picturing 1000's of Momo-tarder types hitting the buy @ market button on garbage stocks like NFLX today... this always ends well!
we already have central bankster largesse galore
it is just that the FED seems more in control at present than the swiss, brits and danes and probably a few more too
One of my favorite expressions here at ZH, and one which applies perfectly to the present situation: FULL RETARD. I"m not sure I can take much more of this.
It's simple. Longs are up boatloads, won't sell until a serious downdraft occurs therefore no selling pressure there. Shorts are constantly squeezed out with the Feds' money and blessing therefore no selling pressure there, infact upward pressure. Don't short until the wheels finally fall off.
The old adage...."don't fight the Fed" comes to mind.
And the Fed cannot be beaten in the financial system they control. The only way out is if they are overthrown, or the system fails (currency crisis). Both of those scenarios are kind of end-of-the-world sort of things which I am sure makes the Fed rather smug.
Sad thing is, they probably win in all scenarios.
Tomorrow should bring a worse than expected jobs print and return printing to the center stage...... Market will once agrain rally hard on a bad number.....
This is obviously a rush away from the EU and into US quality . . .
. . .
. . . LOL! I couldn't keep a straight face while typing that.
Now for some good news: BAC presently down more than 2% on the day and JPM down more than 3.5%.