Mkt Fag: Straight down from the start as hedge costs & VIX soars and muh recession fears edition
TSLA got murdered today-121.60 (-12.18%)and as already pointed out in previous reports Elon Musk had to use TSLA shares as collateral for the TWTR purchase so the threshold on THAT is TSLA shares being at or below $570 and then he will be margin called on his Twitter purchase loan. If that occurs, he'll have two business days to either pay the entire $12.5 billion margin loan, post $3.57 billion USD in CASH, or sell his $TSLAQ collateral shares. So, Soros and Bill Gates has to short TSLA to 570 to kill the deal." Well above daily avg volume of 25,140,773 with 44,358,184 shares traded.
The Nasdaq and Small Caps are now back below the March lows. FANG+ stocks puked to their lowest since September 2020..TSLA's tumble weighed heavily (given its weighting) on the major indices, with Nasdaq clubbed like a baby seal today, back below March's lows (down 3.5% today)…Nasdaq's worst day since Sept 2020. "Most Shorted" Stocks have erased all of the late-March gains and then some are now testing the spike lows from the day Putin invaded Ukraine. Put volumes sky'd (the hedge costs)
In an eerily familiar pattern- it was straight down from that start and those losses extended once yesterdays lows were taken out it got going but gotta a bounce at 11:58am. The system will take ANY positive news form the tech 'earnings' for a bounce but the dye is cast with the techincal breaches already DOW lost muh 50DMA friday, NAS on Thursday, SP500 also on Thurdays and got turned away from the 200DMA HARD. Microsoft (MSFT) and Alphabet (GOOGL) came out after the bell-you can those results plastered everywhere. Rmemeber GOOG haz this problem (depending on how you look at it of shoving Billions9Yes with a B) into the Donatiosn and in-kind 'bucket' so they pretty mcu get to invent it's results. In 2018 they sold Dragonfly or gave it away for next to nothing-all of that is in the archive-GooGs 10-Q breakdown from Q3 and 4 2018. Meta (FB), Apple (AAPL), and Amazon (AMZN) are also set to report quarterly results through Thursday. And backing the above claim of how they 'achieve' those results here are the #'s as of last friday- one-fifth of companies in the index have reported results for the first quarter so far, with 79% reflecting an earnings beat for the period – above the five-year average of 77%, according to the latest available data from FactSet. The magnitude of the earnings beat, however, is below the five-year average: 8.1%, compared to 8.9%. Don't forget all the share buyback programs too-Poof!!!-instant EPS creation. The pan-Europe STOXX 600 index closed lower, with technology stocks down 2.3% at six-week lows and banks dropping 2.3%. China's blue-chip index fell another 0.8% after its worst day in two years on Monday, even as the central bank vowed to step up prudent monetary policy support, particularly for small firms hit by COVID-19
Oil/Energy-Oil back over a hundy-see I told you that wouldn't last long-higher low from yesterdays one so that is ALL it took for the techies to pile in. Poland not doing so good today too-losing over half it's natty gas supplpy-VP haz had enough of the games plus you ijits DID not place orders so are fucked. It's too bad the ordinary citizens feel it though.
>>16156896 pb Russia Halts Natural Gas Supplies To Poland - European Energy Prices Spike On Local Reports
US Nat Gas Rebounds On "Worrisome Inventory Forecasts" That Show Tight Summer
https://www.zerohedge.com/commodities/shortage-fears-send-us-natgas-higher-after-plunge
German Minister Says Full Embargo on Russian Oil ‘Manageable’
https://www.bnnbloomberg.ca/german-minister-says-full-embargo-on-russian-oil-manageable-1.1757139
That's why you've had at least 4 flights into DC in the last week cryin' about your energy problems….kek
Treasury complex-yields smershed today again becasue why not?-they are trying NOT to hike 75bp or even 50bp (dis pretty much baked into it at FedWatch though) next meeting in 8 days so the bond complex has to sorta "play along" otherwise they really show they are completely impotent (to the normies who think that they actuallly set rates that is)https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html
Treasuries were bid across the curve today, led by the short-end (2Y-9bps, 30Y -3bps). Notice the pattern was similar today to yuesterday but lower magnitude on the post-EU close selloff
this earlier today
Stellar Demand, Record Low Dealers In Blockbuster 2Y Auction
all shortish end stuff gets gobbled up and the primary dealers not stuck with much..when it get to the longer end they get stuck with muhc and they have to buy it or they risk losing status as a NYFRB Primary Dealer see-here for muh list of those: https://www.newyorkfed.org/markets/primarydealers
$777m in MBS purchases today too-but the standout # is the amount that was submitted- $3.8B'so they are trying to suck that teet still and the NYFRB is not taking it all in- https://''www.newyorkfed.org/markets/desk-operations/ambs
And they are still doing Reverse Repos-never stopped-todays was $1.8T (that is not a typo) been steadily over $1T/daily since Sept '21- I stopped counting at $70T and that was right after they started getting $1T daily- https://www.newyorkfed.org/markets/desk-operations/reverse-repo
Metals Au got a little bounce today +7.30 +0.38% and just back above $1900 (expected after the last few sessions as they "printed" the weekly amounts at 1:30pm EST for all the relevant reports. But as usual Ag -0.14 -0.59% not but that improves the Gold/Silver Ratio and is now over 80-did that yesterday. https://goldprice.com/gold-silver-ratio/ $81.005 USD +0.686 (+0.85%) which means that if you can get it that makes 81oz of Ag for every oz. of Au…you will have premiums to factor in and depending on how you do it (shipping and insurance) so yer looking at roughly 74-75 ozs after dhat-IF you can get it. Most places are just out of 1oz to 10oz rounds and bars but have seen plenty of kilo and up available-but what are you gonna do wif that later when it goes parabolic-kilo is roughly 35ozs. Stick with the 1 oz or even fractional (YUGER premiums on those) but if you must go with the kilos or 100oz bars cause you want to habs rather then not habs-can deal with the size issue exchanging them later. BELIEVE me THIS will eventually explode becasue it has been suppressed WAY moar than Ag ever was/is. THIS is the bank KILLER as the Spot price does not, in any way,shape, or form reflect the cost acquiring Ag. You should be familair with the Bank of ~~America~~ Italy Ag leasing arrangement by nao. Prior to last year B of A din't even have a trading operation in Ag now they hold the single largest short position via leased phyzz from JP Morgue EVER. US Mint Eagles are about $40/oz at most local shops and big bullion dealers. The premiums and wait times have never lasted this long-it was only for a few months in 2011 when they sent Ag to just below $50 and gold just below $2000
>>16157898 Ukraine wants $2bn per month from US
>they "need"a total of $5-7B per month according to this
>>>/qrb/134023 Ukraine Needs Nations to Follow Up on Aid to Fill $5 Billion Gap
Some Headlines
in no shit sherlock news….
Commodity prices to stay elevated through 2024, World Bank says
https://www.bnnbloomberg.ca/commodity-prices-to-stay-elevated-through-2024-world-bank-says-1.1757090
Sales of New U.S. Homes Drop to Lowest in Four Months
https://www.bnnbloomberg.ca/sales-of-new-u-s-homes-drop-to-lowest-in-four-months-1.1757121
dis guy know his shit (I don't care what his political affiliation(s) are-died in the wool Dem icyyw) and has for a very long time (this used to be a ZH before ZH-in the comment section) so take the info. and care NOT what they think re: politics
Comments on February Case-Shiller and FHFA House Price Increases; New Record Monthly Increase
Bitcoin coming to 401(k) plans through Fidelity digital asset accounts
Fidelity Investments is launching a new offering for 401(k) plans that will allow customers to invest a portion of their retirement savings in bitcoin.
https://www.foxbusiness.com/markets/fidelity-bitcoin-digital-asset-account-401k
https://www.calculatedriskblog.com/2022/04/comments-on-february-case-shiller-and.html
https://finance.yahoo.com/quote/%5EIXIC
https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart
deez niggas were talkin' on 0418 and all you have to do is witnes the 'ANON callsign(s)
Those mean MUCH moar when they are not on the ground-when they take off or arrive as ANON-THAT is the Juice! And when you catch one….nuffin better for a pf
It's still relativevly benign but if you've never seen "down" or capitualtion nefore-I've only seen it 2x (in over 35 yrs) and it wasn't in 2008-09 either..all that was way to controlled-sure there were some really big down days but it wasn't capitualtion, not even close.
>>>/qrb/133546 HOOVR92 Rivet Joint off San Diego. Baja-Mirror 92 you get 29-Herbert Hoover was the President in 1929 and and you all know wut habbened in 1929 with the Markets.
and then on 0420
>>>/qrb/133740 HIPPO92 USAF RC-135 Rivet Joint off San Diego and Baja Norte-just like the HOOVER example with 92 you flip that around at you get 29