Spot The Daily 3:30pm Ramp

Fewer jobs, BTFD; Bond yields at 5-month lows, BTFD; Macro data collapsing, BTFD; earning season straight ahead, BTFD. US equities dumped in the pre-open on huge volume as the NFP data hit and disappointed with not even Steve Liesman able to find a silver lining, but we wriggled higher after the US open and briefly topped out at the European close - all amid extremely low volume. Then things went quiet, too quiet; until the dreaded witching 30 minutes. Volume disappeared to trickle and at 1530ET to the dot, the magical levitation fairy took us on her wings made of bull's scrotums and smashed stops to pull S&P futures (and thusly the rest of the market) up 10 points. Although we closed red - making it 13 days in a row of down-up now (an all-time record of prevarication) - all asunder declared victory for the bulls and declared that this 'market' shows that everyone just wants to buy those dips. Meanwhile, EURJPY exploded (JPY lost 5% against the USD in the last 36 hours); Treasury yields collapsed - not participating in the jerk higher in stocks; Silver and Oil recoupled (again) to close -4.2% on the week; Gold ended -1.2% at $1580 (notably off its lows); and while high-beta sectors recovered Utes and Healthcare won the week. The Dow, in all its might, closed above pre-Cyprus levels (just).

The magical Friday afternoon 3:30pm rampapalooza in all its glory...

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completing 13 days of vacillation in stocks (for 1 points of gains 3/18 close 1552, 4/5 close 1553) and 25bps of yield compression in Treasuries (3/18 close 1.955%, 4/5 close 1.706%)

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As the Dow declared victory - another green close post Cyprus 'proves' the island didn't matter...

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and the high-beta (builders etc) bashed higher today from the opening bell... Discretionary closed at a highly coincidental perfect UNCH from Cyprus!!!

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