Gold Spikes To 2-Month Highs As Equity 'Traders' Buy-The-F**king-Fire-And-Fury-Dip

Buy The Fucking Fire And Fury...

Interrestingly the BTFDers arrived right on cue as Europe closed and then got some ignition when NYT ran a story saying Trump's words were his own and not 'policy'... Then again into the close, VIX was smashed lower in a desperate bid to get S&P green...



Dow down for a 2nd straight day!!!!


Since "Fire and Fury", gold has outperformed, bonds are bid, and stocks offered...


Nasdaq and Small Caps underperformed today but all major indices were red on the day (Dow not helped by DIS accounting for all 35 down Dow points)...Trannies managed to get back to even as a general buying panic struck with 15 minutes to the close


FANG Stocks erased most of their post-NFLX earnings ramp gains as early BTFDers failed... FANG is down over 6% from its highs around AMZN earnings


But while investors fled to safe havens like bonds and bullion, they also rotated into AAPL - sending it to a new record high... (AAPL up 6 of the last 7 days)


VIX broke above 12 and its 200-day moving-average for the first time in a month...but of course was instantly pressured back lower because why buy protection in front of global thermonuclear war...


Treasuries rallied today extending their safe-haven bid from last night's "Fire & Fury" comments...


The long-end has erased all payrolls losses...


The Dollar Index ended the day unchanged after spiking on an early Trump tweet and fading for the rest of the day...


Ugly data from DOE on Gasoline inventories (but a big draw on crude) dipped WTI/RBOB but as the dollar sank late on so commods rallied... (NOTE, WTI bounced perfectly off $49.00)


Gold spiked up to 2-month highs...


As ye olde Gold-USDJPY pair was very active...


Clock Crasher Wed, 08/09/2017 - 16:15 Permalink

Gold weekly - bullish ENGULFING provided we close above or at todays closeSurprise MuthaFucka!Take a look at NUGT and JNUG monthly chart with volume bars. Massive volume for these derivatives in 2017 Bigly.

vegas Wed, 08/09/2017 - 16:08 Permalink

If you ever needed proof of manipulated U.S. markets, today is the day; what utter bullshit in the unicorn meat futures market known as the SP500 & Dow30. "Plunge Protection Team" at the ready so many times today it was sickening to watch ... and the spikes? Oh well, it's biz as usual to crucify shorts, especially on a day where action, if described as pathetic, is an insult to pathetic. Simply put, the U.S. is losing traders and trading biz to other overseas markets, cuz they don't want the bullshit. And aftter today, how can you blame anybody to swear off U.S. stocks? WTF.

ReturnOfDaMac vegas Wed, 08/09/2017 - 16:16 Permalink

Quit trying to short.  You will NEVER time this crash, never.  Get it through your head.  EVEN, just EVEN if you did, they would change the exchange rules so you would still LOSE.  Remember last crash?  They cancelled almost all of the winning hands, called it some kinda "market event".  Look man, when something is not working, has not worked in 8 freakin years, it may be time to look quit looking at the Mawquets and the banks, and start looking in the mirror.  Maybe, just maybe, you can't short this market right now.  How 'bout maybe trying something else ...

In reply to by vegas

Keltner Channel Surf vegas Wed, 08/09/2017 - 16:47 Permalink

I’d agree the late summer holding algos were in force, but don’t really see this as signs of manipulation – and this from a full-time trader who’d love to blame evil forces for the tight range.  Instead, the sad truth is that mean-reversion algos are still the dominant intraday force, and will always be in control unless higher than average volume, evidence that buy-side pensions or risk-parity hurricanes are blowing through, is present to override late-day VWAP reversions or, in the case of SPY & QQQs, strong enough to drown strong auto-buys at the Daily 20EMAs, the most important of all quant levels. Sadly, the fact that the weekly IWM 20 EMA was breached, and Daily lower Keltner was tagged, must be seen as minor victories.Intraday algos are mean-reverting in all chart time frames simultaneously, but do so within the arc of buy-side volume and fed-fueled action.  In other words, they’ll ignite momentum, but rely on others to do the real dirty work required for solid directional moves.  Thus far, not many are playing, but that could always change ...

In reply to by vegas

Two Theives an… Wed, 08/09/2017 - 16:12 Permalink

Lately I've been thinking if the markets are about CON-fidence...and "everyone" knows they are rigged...then how is CON-fidence "maintained" (when it's an open ponzi fraud)?Perhaps the principle of "M.A.D" (Mutually Assured Destitution)?

NDXTrader Wed, 08/09/2017 - 16:17 Permalink

Naz being kept afloat by Apple. Apple, who missed their iPhone #s, messed around with their tax rate to "beat" EPS, is dead in China, and absolutely everyone knows (except Tim Cook evidently) is going to delay the iPhone 8 by at least a month probably much longer. They just goose it every single time there is selling in the index

tropicthunder Wed, 08/09/2017 - 16:18 Permalink

Gold must break $1300 on this current run or else its just gonna get raped, pilaged and ass fucked again.Gold stocks still stuck in comatose state which is still NOT a bullish sign for any huge breakout in gold prices.

Fahq Yuhaad Wed, 08/09/2017 - 16:19 Permalink

A "sovereign account" bought a couple of tons of the "imminent 260 ton purchase" Andrew Maguire was droning on about in June and which was supposed to propel the gold price into the 2000s.

Snaffew Wed, 08/09/2017 - 17:52 Permalink

whatever, as one author recently pointed out...if there is an exchange or a war, the global CB's would jump right in and probably spike the markets.  There just is no more downside until a nuke takes out wall st...and even then, it might be a 5 percent dip only to be bought.

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