As a reminder, here's what happened in 2017 when Trump shot missiles at Syria...
And here's what happened this time...
Missiles were dropped...
Correlations broke everywhere today...
Trannies were flying today - up 2.4%!!!! but for the major indices, it was all about the overnight action that drove the main thrust of gains...Stocks went nowhere from the European close...
Futures show the gap open on Sunday night and retest of Friday's highs...Futures closed the day session around the same levels as they opened on Sunday night..
Machines dragged The Dow up to run yesterday's high stops and the 50DMA... but then it rolled over...
The S&P 500 managed to clamber back into the green for the year (2673.61) and test its 50DMA...
VIX dropped back to a 16 handle...
Mixed picture for bank stocks with BofA higher on earnings but still down from Friday's pre-open banking earnings drop...
NFLX was lower (ahead of earnings) among the FANGMAN stocks...
While stocks loved the missile strikes, bonds did not...
Treasuries were mixed on the day...but rallied throughout the US day session
But the 30Y rallied from the US open to end the day unchanged...
Driving the yield curve back down to its flattest since Oct 2007... (and 2s10s dropped below 45bps)
The Dollar Index slipped back below Friday's lows...
The Ruble spiked after WaPo headlines claiming Trump has halted Russian sanctions...
Cryptos slid on the day but are marginally higher from Friday's close... (with Bitcoin holding around $8,000)
The apparent demise of geopolitical fear prompted selling pressure in crude but PMs rallied on a weaker dollar...
Another disappointing data for macro data enthusiasts...
Comments
Well, I'm glad that's over. You can all come out of your foxholes now! The coast is clear! Give us all your money and all will be well!
Thanks,
Wall Street Banksters
Hold your horses! I have to write checks to the US Treasury and my state for 2017 taxes first!
In reply to Well, I'm glad that's over… by NugginFuts
See my post. You are feeding the Deep State...
In reply to Hold your horses! I have to… by Hubbs
Don't Look At These Charts...
You'll go blind ?
In reply to Don't Look At These Charts... by davatankool
If you are right handed. Left handers are safe..
In reply to You'll go blind ? by Giant Meteor
100 missiles = 100 points up?
atomic missile = X points up?
In reply to If you are right handed… by FreeShitter
2000 up
1000 up if regular missiles wipe out a kindergarten or daycare
In reply to 100 missiles = 100 points up… by _RRR_
+500 for another staged chemical "attack" by "animal Assad"... they have it down to a science now,
it's like Sandy Hoax, but they keep repeating the script, and getting away with it
In reply to 2000 up 1000 up if regular… by FreeShitter
Im waiting for a synagogue attack by a crazed white nationalist, think they havent used that one in ages. Maybe + 500 for that one as well?
In reply to +500 another hoax chemical… by Squid Viscous
yes, preferably clean cut college kids with tiki torches ...the horror!
In reply to Im waiting for a synagogue… by FreeShitter
Yeah, Syria's latest targets looked like, "Hollywood movie sets" before and after. Clean, surgical strike. Just a few props blown up and the MIC stock surged just like those sparrows, only if for a moment.
In reply to +500 another hoax chemical… by Squid Viscous
There is no correlation with a few ragheads dying and the market.
In reply to Don't Look At These Charts... by davatankool
Wouldn't be The United Snakes of America without the stock "market" celebrating a brand new war.
See my post. Don't be complicit...
In reply to Wouldn't be The United… by Fiat Burner
See my post. Don't be complicit...
In reply to Wouldn't be The United… by Fiat Burner
Trader’s Corner
Tomorrow’s headline will get it slightly wrong – not so much a ‘mission accomplished’ rally as a continuation of the reversion move to SPY-50 some folks talked about here last week, interrupted by Syria uncertainty-driven vapor volume then finished today on more light trading. And while it may seem merely a semantic difference between ‘relief rally’ and ‘gate opening’ moves, it was less so from a trading perspective, as getting long early and often in spiky pre-noon jostling, with inevitable targets in mind, was your key to success.
Fledgling Russell traders should note the prominent “Little Brother” effect seen today, in which the precise moment SPY-50DMA was tagged also marked the day’s IWM top. Just like when Big Sis took you to the mall, and you had to skedaddle, even when about to break the pinball record, when she said it was time to go, so too must EVERY Russell 2000 trader keep at least one tiny SPY daily chart with major DMA’s and envelope levels on one of their screens, then tighten stops when ANY key SPX level is approached, regardless of what your silly-ass 45%-infallible technical indicators say.
Finally, as this is OPEX week, note the nervous, dragonfly Russell action in the first hour and last two, perhaps leading some to start with 5-min charts early, project mid-day based on 30/60 min. momentum, then either end the day early, or CAREFULLY tiptoe through the last 120 (no ‘standard’ VWAP plunge ‘n’ spike, as seen with SPY).
All in all, a good start to OPEX week, with a number of solid though carefully hewn opportunities, amidst the inevitable machine handbag fights.
Happy Trading.
Thanks
In reply to Trader’s Corner Tomorrow’s… by Keltner Channel Surf
no music today??
In reply to Trader’s Corner Tomorrow’s… by Keltner Channel Surf
Kind of a slow day, everyone's probably filing for a tax extension, so I thought I'd give it a rest. But, since you asked, here's an old one from the inventory:
“Doves Will Tear Us Apart” from “Love Will Tear Us Apart” by Joy Division
When shorting bites hard, as Fed Funds stay low
And leverage rides high, but incomes won’t grow
And we could ‘sell in May’ or take off in ramp mode
Doves, doves will tear us apart again
Why did the volume go cold? Turned away the buy side
Is their timing that flawed? GDP well’s run dry
Yet stocks still seem surreal, the bull’s slept through nine lives
Doves, doves will tear it apart again
You cry out to the sheep, all your flailing exposed
As we trace out a top, desperation takes hold
That markets so large just can’t function no more
Doves, doves will rip it apart again
In reply to no music today?? by 10044
Somebody wake me up when the head fake is over.
In reply to Trader’s Corner Tomorrow’s… by Keltner Channel Surf
Thank you Mr. Trump! No matter what happens in the world, what we do overseas, what happens in the USA and what happens in the markets, you can ALWAYS count on the Stock Market approaching brand new All Time Highs. The fact of the matter is, nothing matters anymore. We are so past the point of valuation sanity that there will never be a "Crash" again. I am still fully invested in 3x Long Leveraged S&P 500 and would recommend all readers of this comment to do the same. Maybe back in the 90s or 2000s crashes would be a likely event, but no longer anymore. We have structued everthing around avoiding a crash. Infact, we have a SIGNIFICANTLY better change of seeing S&P 500 at 10,000 before we see it below 2000 ever again.
I quit my job over 5 months ago and have been living off earnings from 3x Long Leveraged S&P 500. Sure, I've taken a bit of a hit but its all good. I can afford rent in a solid apartment and I can do whatever I'd like to do during the day. The fact is, working sucks. I would much rather just do whatever I feel like because I have the money.
Folks, it's not too late. There is still an excellent chance we finish the year at 3000. Get on the train!
You are back...
In reply to Thank you Mr. Trump! No… by Overleveraged_…
My nickname for this guy is "Over-Beveraged", and I appreciate his tongue-in-cheek (hopefully not swallowed tongue) humor.
Still, it's worth noting, once again, for the uninitiated, that 3X leveraged funds are designed to give you 300% of the associated index only on a DAILY basis and, given odd quirks due to how they're constructed (with futures, etc.), will NOT give you 3X the index return when held over long periods. Short leveraged ETFs, due to decay issues (and the fact that they're designed, theoretically, to go to zero, 'zero hedge' if you will) are especially prickly, often biting long-time holders in the hindquarters.
So, as they used to say in that TV show some of us are old enough to remember: "Be careful out there ..."
In reply to Thank you Mr. Trump! No… by Overleveraged_…
You quit your job 5 months ago? The ES is roughly at the same level now as it was then and amongst all that we have had a major sell-off yet you have made money being long? I think you should fuck off and troll somewhere else asshole.
In reply to Thank you Mr. Trump! No… by Overleveraged_…
lol, good one tarder,
i like the anger,
In reply to You quit your job 5 months… by Traderone
Ok, and what did 3x Long Leveraged do last year? IT went up... alot! Listen I'm not out here driving ferraris. My main hobbies include trying new recipes, going to the gym and the occasional beverage. I am not trolling, only Truthing. And today was a great day!!!
In reply to You quit your job 5 months… by Traderone
See my post. You are complicit (likely from ignorance) and have no idea what you are doing....
In reply to Thank you Mr. Trump! No… by Overleveraged_…
I quit my job over 5 months ago..... Along with all the jobs held by Bitcoin HODLers.
In reply to Thank you Mr. Trump! No… by Overleveraged_…
Since Bolton resigned from Diamond Offshore we've seen what is coming to the oil markets. Iran next!
I say drop the chickenhawk on Tehran....
In reply to Since Bolton resigned from… by the Dood
Real estate fund took a bump as the dollar did what??
I said this morning that most Americans didn't care about Syria, algos didn't care.
Yawn
I'm not a buyer at these valuations..
but yawn all the same
silver down 12% YTD
http://quotes.wsj.com/futures/SILVER
and
Gold 3.1% YTD could have done better less storage and bid/ask with the 10 year
http://quotes.wsj.com/futures/GOLD
Banks don't seem to be included in the stock buying bonanza:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=djia&insttype=&freq=7&show=&time=18
for everyone who shorted NFLX into another we added x.x million subs (mostly free, will quit next week)but missed every other number...
you loose again, loosers, loost, loose, why does every idiot put two o's in each conjugation?
lol
Muh 6 Million Subscribers- and Wall St goes wild!
In reply to for everyone who shorted… by Squid Viscous
Shorting the FANGs, any of them, is a bad idea. Even loser TSLA. Everyone knows they're overvalued, which is why they will...continue to go...up?
In reply to for everyone who shorted… by Squid Viscous
Why don't they just kill Assad, his associates and his family?
When will people learn? The equity market is a propaganda tool of the Deep State.Most of the Dow and S&P are multinational companies that are working AGAINST the interests of America and anyone who loves FREEDOM! The only way we can reclaim FREEDOM and THE RULE OF LAW is to be OUT of the equity markets (or be SHORT them), buy GOLD, SILVER (or tangible assets), and help our fellow people to understand the fraud and corruption that is Wall St. If you play along, you are complicit and subject to the wrath of what follows...