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SSDD - 2 Charts Summarizing Today's Melt Up
In case you overslept yesterday and missed the U-turn shenanigans, today was almost perfectly the same. Equity, credit, and volatility markets all weakened notably into the open, kept sliding aggressively into the European close and then equities and vol (and not credit) turned on a dime and accelerated all the way back. The other similarity was the high volume dump, low volume pump and then considerably high average trade size around 1400 (in ES) into the close.
ES (the S&P 500 e-mini futures contract) vs VIX reversing aggressively almost immediately at the European close...
And ES pulling notably higher again after the European close while credit markets remain much less sanguine (and notice yesterday's overnight session correction in stocks)...
So once again the invisible hand came in to sell vol and lever stocks up while credit trades at Friday's lows...hhmm
Some Bonus charts...
FX markets have seen the USD selloff after the European close three days-in-a-row now...
But...Treasuries are behaving differently (like credit)...
Charts: Bloomberg
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Tyler, work out how much return you'd made shorting EURUSD while Europes open and longing over US session. its 45 degrees to infintiy right now. GBPJPY 130 pips of the lows!!!!
"And this, this oh and this is how we fuck them"
Jim Grant on CNBS schooling Maria "my voice equates to nails on a chalkboard" Bartiromo
Jim saying "...the Fed needs to get out of the anti-capitalism business"...f'ing right!
Wall Street is beyond corrupt. This market is a complet illusion now and for quite some time.
http://ericsprott.blogspot.ca/
When the health of this economy is a mirage, how can the "market" reflecting this economic activity be any different?
my friend's sister makes $74/hr on the computer. She has been out of a job for seven months but last month her check was $17871 just working on the computer for a few hours. Read more on this site .... http://bit.ly/wYpMrv
It's like shoverling crap around on a sinking ship
All the men in the engine room of the Titanic died. They stayed to the very end working to keep the ship balanced so the lifeboats could launch. We all know what happened next.
Sure glad we only deal in "free markets" in this country.
I'm finally out of this game and only going to stack phyzz.
Slow learner, I guess.
nice
paradigm shitfts take time and those shaman schools always cost a fortune!
And don't forget it's the end of the quarter. If the Fed is behind this, they probably had a lot of help from money managers looking to debit their fees on Monday.
I'm just completely disgusted!
Not only do they rob you in broad daylight in front of a camera , they flip you the bird
Thursday's lecture, Bernanke will show off the PPT bot.
The Bernank to the rescue.
BTW, Hey Bernanke....FUCK YOU
I guess Bernank got back to the office from his manure spreading lecture circuit and hit the 'cntrl+full retard' button.
Primary Dealers who are stuffed with each other's stocks can't afford to see their holdings fall in value since they are bought in margin, so..........they keep buying at low volume, little by little until just a batch 100 BAC stock will move it 20%.
Same as Bear Stear, same as Lehman and of course same as MFGlobal.
The more it changes, the more it's the same thing.
Which primary dealer will be the next in line to be MFGlobalized?
We need a serious pool on this. I say Merril will be next to go tits up.
May the Lord hear your voice, ML it is.
Wheres Devo, I think the collectif owes the guy a beer, no?
And to that end, anybody know what Goldmans stake is in EDMC right now? Stood at +-38% ownership at one time (when the Art Institute commercials were on TV with the chump saying he was gonna make big $$ designing video games)? I am going to go ahead and assume it is much much lower based on the pump and dump chart. Anybody got a figure?
Corrected: EDMC is the symbol not ESI, sorry. Anyone know what GS stake is in EDMC
Eh, he might be right, but for all the wrong reasons.. Re: "this market is clearly going higher." The sell-off is coming. The company I work for just let go of some temps. Orders are slowing down. Last time this happened was early '08. The stock market can't ignore reality forever...
I should be more specific, but in light of my continued interest in buying puts which have skyrocketed in price I cannot. You will have to do the homework, sorry AS.
Last I heard from him was that he wanted to finally go "all in".
So maybe Devo bought the dip and rescued the markets singlehandedly today.. haha
Can't wait for a black swan to rip all these over leveraged and magrined aholes a new ahole. Jsut want to see it before i die is all i wish.
I have a good friend with a potentially fatal leukemia type disease. The one thing he wants is to see the finale....the last wahoo of the global financial show.
Got to save them bonuses boys! :)) After that...LONG PHYZZZ...SHORT EVERYTHING ELSE!
In Heartbreak Ridge, it takes the recon unit 3/4 of the flick to figure out a way to know what color shirt Eastwood is going to wear the next day. I relish the day when the masses know what the algos' secret is ahead of time.
Improvise. Adapt. Overcome.
Who does Bernank's laundry and lays it out for the next day?
I believe that would be Timmah.
This is not the manipultion you were looking for, move along.
So what Algo is this, 'The Mamba'?
It looks like the "Droop and Swoop". Interesting that AAPL and GOOG continued to lag once the Swoop commenced. Maybe they'll get swooped up tomorrow to better enhance end of quarter stats, and because no one seems to worry about being obvious anymore. If not, I'll pay more attention.
No , the 3 card monte
3 pm is usually rally time , thank you whoever
Broke is the new rich!!
So with the Bernank guarantee is there really a need for hedgefunds? What is there to hedge against?
Long ES/Short industrial printers?
The DOW can't end red ya know.
Fed mantra is Dow Red Days, No Friggin Ways
SO, I guess the much talked about 'correction' has now taken place....back to DOW 15,000 pumping I presume.
PPT
Groundhog day again and again. But the movie was much funnier.
Hmm - what happened to EUM at the close ? Did someone jump the gun by a day or two ?
Which companies does EUM track reversely? If there's a spike in the stock price of any of these companies it could reflect the drop in EUM.
15:59:44 - 29.36
16:00:00 - 28.72 (27 trades at this price)
16:00:03 - 29.34
If those are market on close that's a quick 2%. Another (low profile) flash crash ?
My personal opinions on etfs and in particular on proshares is that they are manipulating the product to suit their needs. No rhyme or reason given, their prospectus are written confusing and non-sensical. Market it trading on vapors with little or no real participation. Fund managers are chasing every opportunity to make a profit. Even when that means they might get caught because it's so obvious. See the TVIX debacle.
What you need to know is that there are no "safe bets" and the moment you execute a buying order, your money is gone. Good luck trying to chase it higher.
When I see so many resigned comments on the inability of the mkt to correct (not just on ZH), it's an election year so up, up and away, etc.., makes me wonder if things in the mkt are on thinner ice than I thought. Or maybe I'm just a bear stuck in a certain river in Egypt.
...no surprises at all> Last Thursday my bid got filled at 1395 and I squared on early this week at 1420> This Thursday my bid got filled at 1395 and I will sell it early next week at 1420ish. Groundhog day?...sure is. I do very little trading really but fuck 'em all...I will take some of their money and reinvest in more tangible assets (and zhers know what I'm talking about!)
Or, thats just what theyre desperate to condition retail into believing.
no rollerCoaster ride so far @ quarter-end; orderly like ants in the anthill of theCollective
everything is screwed down about as tight as i could imagine, even at the risk of repeating myself for another month...
timing is everything, and even in the long run, we're all day-to-day, but these numbers are goin in theBook, it seems, dano
robo_T is in exile, possibly for life; can you BiCheZ imagine the correction necessary for his re-instatement just into the non-smoking section, here?
...exactly why talking heads on finance news are begging retail trade to buy "high". Maybe the MUPPETS can turn the table?
...exactly why talking heads on finance news are begging retail trade to buy "high". Maybe the MUPPETS can turn the table?
At $600 an oz im buying up physical palladium from credit suisse.
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