tybs
US Mkt Report
Short-Squeeze Sends Small Caps Soaring But Fed-Fear Triggers Bitcoin-Buying
As US economic data plunges to almost two year lows, the message from The Fed's Minutes was clear.
(that they even hinted at being 'concerned about negative yields should have sent all index's down)
ChiNext ended the day lower despite China's National Team buying panic in the afternoon session.
While The Dow trod water today (not helped by BA and HD), Small Caps soared.
Today's rebound was brought to you by yet another short-squeeze, erasing all the short's gains on the week.
Short Squeeze Definition and Example
A short squeeze is a situation in which a heavily shorted stock or commodity moves sharply higher, forcing short sellers to close out their short positions and adding to the upward pressure on the stock. Short sellers are being squeezed out of their short positions, usually at a loss. Short squeezes are generally triggered by a positive development that suggests the stock may be embarking on a turnaround. Although the turnaround in the stock’s fortunes may only prove to be temporary, few short sellers can afford to risk runaway losses on their short positions and may prefer to close the position even if it means taking a substantial loss.
https://www.investopedia.com/terms/s/shortsqueeze.asp
Today was the biggest short-squeeze since Feb 27th.
'''(tyler's ain't lying on that one
see cap 2 for the covering or volume increase)'''
Bank stocks bounced as Dems led the Congressional circus.
Treasury yields were notably lower on the day, despite equity gains.
(of course they were when you had a major auction to accomplish you need to push it out at a lower yield)
With 10Y back well below 2.50%.
The dollar index popped briefly after the Fed Minutes, but faded back to the day's lows as the afternoon rolled on for the 3rd down day in a row.
Cryptos ripped after The Fed Minutes.
(this is still the biggest pile of shit going-on the day the FOMC release's Mtg minutes and you have the biggest bunch of criminals, financially speaking, in front of yet another dog and pony show)
Finally, US Macro data plunged to its weakest since July 2017 and US earnings expectations remain dismally weak as stocks reach back towards record highs.
(Cap #3-this is not going to just vanish into thin air although the big banks would like it to)
https://www.zerohedge.com/news/2019-04-10/short-squeeze-sends-small-caps-soaring-fed-fear-triggers-bitcoin-buying
https://finance.yahoo.com/quote/%5EIXIC?p=^IXIC
Elon Musk Lashes Out at Bezos' Space Plans, Calling Him a Copycat
The CEO of America’s favorite cash furnace, Elon Musk, is now directing his ire toward newly divorced Amazon.com CEO, and still the world's richest man, Jeff Bezos, who is nipping at Musk's heels in the private-company space race.
On Twitter Wednesday, Musk went after a plan by Bezos' space start up, Blue Origin, to launch a network of 3000 internet satellites. After an MIT Technology Review story was published about the Bezos idea, Musk responded with the word "copy" followed by an emoji of a cat.
.@JeffBezos copy 🐈
— Elon Musk (@elonmusk) April 9, 2019
The Amazon project, called Project Kuiper, would launch thousands of satellites into low orbit in order to deliver internet access to underserved areas and would cover more than 95% of the world's population. This project comes after SpaceX launched a prototype satellite into orbit in February after it got approval for its own similar plan, called Starlink. SpaceX's plan was to create a network of about 12,000 internet beaming satellites.
And the timing of Musk's lashing out at Bezos probably isn't a coincidence: it comes just days after Bezos' Blue Origin hired Rajeev Badyal, SpaceX’s former vice president of satellites, to head up its project. Badyal previously ran the Starlink program at SpaceX but was reportedly fired by Elon Musk after he "grew impatient with the pace of development," according to the NY Post.
This isn't the first time that Musk has gone after Bezos on Twitter, either. He trolled Bezos in 2015 when Bezos claimed that his reusable rocket was "the rarest of beasts". Musk responded: “Not quite 'rarest'. SpaceX Grasshopper rocket did 6 suborbital flights 3 years ago & is still around.”
Bezos either didn’t care enough to comment on Musk's Tweet Wednesday or was too busy figuring out new ways to generate consistent profits, instead of creating legal liabilities for his company on Twitter.
https://www.zerohedge.com/news/2019-04-10/elon-musk-lashes-out-bezos-space-plans-calling-him-copycat