5.28.13 futes

 

 

Green on the screen as global markets recover and then some from last week’s Japanese mini-crash. 3 day weekend in US and UK show serious upward bias. Yen is weakening, dollar strengthening. Asian markets bouncing after a 5 day losing streak.

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Yes, today is Tuesday. The people responsible for calling today Monday have been sacked . . .

 

 

Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

9 Responses to “Monday Morning Melt Up (Tuesday edition!)”

  1. TraderMark says:

    Except that it’s Tuesday ;)

  2. Herman Frank says:

    Perhaps you mean “MONDAY & TUESDAY”-melt up? Or a simple “Tuesday Melt Up”? Ahhh, those wonderful long weekends will fry your brains every time again :-)

  3. rd says:

    Margin debt is at a record high:

    http://online.wsj.com/article/SB10001424127887324659404578503334173390490.html?KEYWORDS=margin+debt

    But not to worry:

    “Some see the increase as a sign of speculation, particularly if the borrowed money is reinvested in stocks. But advisers say that margin debt can be a cheaper and easier way to borrow than a traditional loan, so they are recommending margin borrowing for uses like home renovation and business expansion.”

    Stock margin debt is just this high because it appears to be filling the role that HELOCs used to play a few years ago. Since stocks are now at a permanently high plateau of valuation due to the Fed QE policies, this can only end well.

  4. Mike in Nola says:

    I’m too lazy to do actual research but ZH has published some charts showing the big difference between gains on Tuesdays compared with other days of the week, assigning the cause as Tuesday being Fed POMO day.

    http://www.zerohedge.com/news/2013-05-21/its-tuesday-will-it-be-19-out-19
    I think the pattern held last week and it looks like it’s working this week also.

    Anyone have any thoughts? BR?

  5. Concerned Neighbour says:

    Very simply, central banks will not let stocks go down ever again. Of course, it remains to be seen how long they can remain in control of the blatant clown show, but having already committed to indefinite and seemingly ever-increasing money printing, perhaps the markets will in fact never go down again.

    We live in interesting times.