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Cathie Wood's ARKK Has 'Best Day Ever' As PPT-Engineered Squeeze Lifts All Boats

Tyler Durden's Photo
by Tyler Durden
Tuesday, Mar 09, 2021 - 04:00 PM

Don't say you were not warned...

After Friday's PPT and Last night's "National Team", is it any wonder that everything dollar-priced is screaming higher as the greenback tumbles.

As a reminder, in China last night, the stick-save hit as things escalated quickly...but as is clear it didn't last so something needed to be done and Europe stepped up...

Source: Bloomberg

In the last 14 trading days, the nation’s benchmark CSI 300 Index has plummeted 14% from a 13-year high, with daily declines of more than 2% becoming more frequent. That compares with a 3.3% drop by the MSCI All-Country World Index.

And in the US, big-tech, bonds, bullion, bitcoin all shot higher today, but Nasdaq took the proverbial biscuit, up over 4%!! (Dow lagged in a mirror of yesterday's craziness)... NOTE the jump as The National Team stepped up in China, then the jump as Europe opened and then the jump as US opened...

In the last 30mins, some selling pressure appeared...

Source: Bloomberg

That is Nasdaq's best day since last April as it erased all of yesterday's relative losses vs The Dow...

Source: Bloomberg

Stocks benefited from a massive short squeeze - "Most Shorted" stocks up a stunning 15% from Friday's European close lows reversal...

Source: Bloomberg

We suspect at least one trader felt like this today...

Momo bounced just perfectly erasing yesterday's losses...

Source: Bloomberg

Energy stocks had a down day - shock horror - as Consumer Discretionary soared...

Source: Bloomberg

TSLA ridiculously exploded up over 20% to its best day since May 2013...

ARKK exploded by over 10% - its best day ever...

Unprofitable tech stocks were aggressively bid today...

Source: Bloomberg

Meanwhile, GME was up 25%...

Credit markets have decoupled (bearishly) from equity markets in the last two days...

Source: Bloomberg

Bonds were bid with long-end yields down around 6bps...

Source: Bloomberg

The dollar was weaker today

Source: Bloomberg

Crypto rallied with Bitcoin outperforming today, as ETH leads the week...

Source: Bloomberg

With Bitcoin back above the $1 trillion market cap level...

Source: Bloomberg

And Ethereum above $1800...

Source: Bloomberg

Oil (WTI) is down for the second straight day after tagging $68 on Sunday night...

Gold futs bounced back hard, above $1700 and into a serious resistance/support zone...

And silver surged back above $26...

Finally, in the words of one of our longest-suffering trader: "this is a f**king chopfest... the entire market is now a penny stock!"

If you don't know who the sucker at the table is, it's you. Trade accordingly.

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