Stocks End Green - The Terrorists Lose!!
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This just seemed appropriate... (WARNING - Highly NSFW!!)
Because if one thing says Buy Stocks - it's ISIS showing just how ineffective Western governments and intelligence is in the new normal, raising uncertainty, an unprecedented 5th recession in 5 years in Japan and dismal US Empire manufacturing data...
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Cash indices perfectly bottom-ticked as Europe closed...
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The Dow and S&P recovered all of Friday's losses...
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Of course the real reason for the rally is 'Gartman'! [10]
Dow Futures are up over 400 points from the opening lows...
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SUNE Sucked...
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And Clovis was crapped on...
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* * *
"123" was really all that mattered to the machines in charge of the manipulation...
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But it was crude that really ran the show...
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VIX was clubbed like a baby seal... with all sorts of noisy tails...biggest drop in 4 weeks
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VXX dropped over 10% - the biggest single-day drop since October 2013!!!!
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Sell Vol when the terrorists strike...
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Credit markets continue to get crushed (with loans back at 5 year lows)...
Treasury yields were not as excited as stocks... 10Y ended the day unchanged...
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Decoupling from stocks once again...
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Perhaps this is why... (near record net spec shorts)
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The USDollar rallied notably on EUR weakness... (1.06 handle)
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Commodities were very mixed with copper and PMs drifting lower as the dollar strengthened...
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Most notably crude again as algos could not help themselves...
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As Copper plunged to fresh lows not seen since April 2009 - down 9 days in a row!
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Charts: Bloomberg
Bonus Chart: SKEW (tail risk) is once again blowing out but VIX (normal risk) is relatively fearful perhaps signaling another abrupt drop in stocks is due...
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