• Tim Knight from...
    11/26/2014 - 19:43
    I read your post Pity the Sub Genius and agreed with a lot of what you wrote. However you missed what I think is the biggest killer of middle class jobs, and that is technological...

Stocks Plunge In Last Minute On Rebal Day, June Is Worst Month Since October 2012

Tyler Durden's picture




 

The S&P 500 ended the month with an odd shade of green (called red). This is the worst month in stocks for 8 months and makes only the 5th negative month in the 20 months since the global central bank co-ordinated save in Q4 2011. The week, however, saw the S&P gain around 1.25% on the back of endless repeated bullshit from various Fed heads about how we all got it so wrong... which also saw Treasury yields drop notably (30Y -8bps on the week and 10Y down 16bps from its Monday highs). Equities remain the big year-to-date winners and despite some of the biggest single-day gains in over a year today gold and silver remain at the lower end of the pile. The Nikkei and the S&P lead global DM equities (now what do they have in common?). Then with minutes to go, S&P futures collapsed on massive volume to the lows of the day...



 

Risk... Schmisk... Taper... Schmaper...

 

Only the 5th drop in the last 20 months... do not panic!!

 

leaving the S&P (and the Nikkei) as the big winner year-to-date in global stocks...

 

and relative to other asset-classes...

 

which must mean the US is the cleanest dirty short right? Well no! It's second worst year-to-date only to China for crappy macro data relative to expectations...

 

 

Since the FOMC, we have recovered somewhat but it seems the 61.8% retracement stalled index performance even with all the Fed jawboning...

 

and the sectors also dropped into the close en masse with Builders worst and Utilitie sbest post-FOMC...

 

and Bond and FX markets have had qquite a ride since the FOMC (with JPY down over 5%!!)...

 

Gold and Silver had quite a day with Silver almost back to unchanged on the week...

 

With a few minutes to go in the day, month, quarter, it was all going great and then 330RAMP Capital stepped away and...

 

as S&P 500 e-mini Commitment of Traders positions plunged (h/t @AndrewYorks)

 

 

 

Charts: Bloomberg

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