This is indeed "madness"...
Just 1 word... "Patient" and this idiotic market soars 700 Dow points! (and S&P 90 Up ) - Quad Witching Machines in full retard mode... This is the biggest 2-day swing since Dec 2011.
[3]
Up 4-5% in 48 hours...
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"Most Shorted" stocks are up 4.75% from yesterday's lows - the biggest squeeze since October 2011.
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Since The FOMC...
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Dismal Data... Buy Stocks
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HY Credit dumping... Buy Stocks
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VIX protection bid... Buy Stocks
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Crude Carnage... Buy Stocks
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JPY Carry unwinds... Buy Stocks
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Inflation expectations collapsing... Buy Stocks
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One more thing...
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You're getting the picture.
The USDollar rallied...
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Treasury yields rose quite notably...
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And commodities generally flatlined as oil roundtripped...
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Finally, Russia "stabilized" overnight following Putin's annual Q&A...
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Charts: Bloomberg