More nonsense from Zero Hedge
Posted on | Monday, September 28, 2009 | No Comments
Intraday Market Observations (For The Three Computers Who Are Actually Trading)
After a very weak start to the day, the dollar has regained all of its losses. Bonds are trading appropriately. However, don't tell that to the few computers who are pushing stocks to each other today: stocks are still at the days high supported literally by no volume.
Volume is comprised of BUYERS and SELLERS. If there is no volume, (there isn't, the pit was generally less than half full) there is a lack of buyers and sellers which is why ES is sideways. That's not manipulation. That's a function of supply and demand.
ROFL on fast money
Posted on | Friday, September 25, 2009 | No Comments
"Given the RIMM news I thought we would be down much more today"
Nobody gives a shit about RIMM or stocks, and the entire equity market has Zipppp-o to do with RIMM, watch your currencies and treasuries kiddies
Michigan Sentiment beats expectations, New home sales miss
73.5 actual vs 70.2 forecast
429k vs 442
... so Zero Hedge needs a "Consumer still delusional" post.
Ah yes!
http://www.zerohedge.com/article/consumer-confidence-does-not-ignite-yoyo-market
Equities sold off today... Where was Zero hedge?
This was clearly manipulated downward, I mean my God, paper started selling before the cash open! and they sold more on the cash close! Instead they said it was normal, the hell? So it's normal when the market declines but not advances? huh?
Oddly Normal Day
Global derisking in practice. This is what a normal market should look like (and a mirror image when in reverse). Yet one can count on 2 fingers such charts over the past 3 months.
Too bad your idea of "normal" went out the window on the cash open when the 10 yr and USD increased and the spx sold off. Which would actually be "normal" even if reversed (causing SPX to rally) and has been the theme since March 10th 2009 when the Fed announced a little blurb on monetary policy going forward. You and Pisani are both 6 mo behind.... reason #8767678678 Zero Hedge is just as full of crap as CNBC
I hope tomorrow we rally and can hear about JPM buying SPY shares on "ridiculously low volume" and somehow moving it's underlying assets.
edit 1am EST : London premkt Eur catches a bid and ES is now green 5 points for a higher open tomorrow as of right now.... OMG this must be manipulated! I mean hell those relationships only work when ES goes down not up! SPY isn't even open for trade yet "Market MAGICALLY opens higher!" should be the title of tomorrow post for your site.
Say hi to Pisani for us
Zero Hedge = CNBC
Next time we'll discuss why the S&P is the bitch of global capital markets, and does what its told. Nobody gives a shit about stocks.
Bob Pisani, welcome to 6 months ago
The stock market is again beholden to the dollar. The Dollar Index hit a 52 week low recently, but as it began rallying after the FOMC report yesterday, stocks weakened.
It happened again today: as the existing home sales number came in weaker than expected, the dollar rallied again, and stocks dropped. When the dollar stabilized mid-morning, so did stocks.
How long will this last? It may last for a while. What matters with currency trading is interest rates, and the Fed clearly indicated yesterday there is little chance interest rates are going up any time soon. This gives currency traders carte blanche to go sell the dollar relentlessly, borrow dollars cheap and use it to buy higher yielding assets.
But why did the dollar rally on a weak existing home sales report? Normally, a poor economic report would indicate that the Fed would keep rates lower longer, which would support a weak dollar.
The reason is that there seems to be a new type of trade: the dollar has replaced the yen for the carry trade.
full article
Posted on | Tuesday, September 22, 2009 | No Comments
Never thought I'd say it, I agree with Maria. In the grand scheme of things this is ridiculous. And Charlie G is dead on:
Zero Hedge and more market manipulation
http://www.zerohedge.com/article/noon-ramp
Noon is the new 1:30pm, is the new 2:30pm is the new 3:30pm. Pretty soon algorithms will gun the market starting before the market even opens. Smells suspiciously like desperation.
Below you can see the spike in VXV and equities at exactly noon, which despite a strengthening dollar was fed by the significant drop in Treasuries, ahead of today's auction. The Fed's liquidity refuses to sit still.
Pretty soon they might trade during cash hours from 9:30 to 4 I bet right? Gun the market before the market open? Lets get real, has any of these guys ever even seen the futures market and/or understand its relationship to the cash market? Do you guys even realize it trades 24 hours a day during the week? Or how about paper intentionally buying on the cash close in the pit.... open outcry pit so no computers. Has it ever dawned on anyone that maybe on a shorter time frame the S&P was oversold relative to OTHER market (non equity) correlations? Despite a strengthening dollar!? GET REAL! have you seen the chart since 4pm 9/21!? the dollar is in the dumpster. Maybe you'll someday find out that capital markets will never correlate 1:1 on a tick chart all day long... wake up kiddies.
I challenge you to actually PROVE what you are saying instead of just saying it as if it were fact.
Edit: 4pm cash close. EUR and ES still correlating with EUR leading (as it does 90% of the time)... boy look at them gun and manipulate the market... too bad it DIDN'T happen.