This is indeed “madness”…
Just 1 word… “Patient” and this idiotic market soars 700 Dow points! (and S&P 90 Up ) – Quad Witching Machines in full retard mode... This is the biggest 2-day swing since Dec 2011.
Up 4-5% in 48 hours…
“Most Shorted” stocks are up 4.75% from yesterday's lows – the biggest squeeze since October 2011.
Since The FOMC…
Dismal Data… Buy Stocks
HY credit dumping… Buy Stocks
VIX protection bid… Buy Stocks
Crude Carnage… Buy Stocks
JPY Carry unwinds… Buy Stocks
inflation expectations collapsing… Buy Stocks
You're getting the picture.
The USDollar rallied…
Treasury yields rose quite notably…
And commodities generally flatlined as oil roundtripped…
Finally, Russia “stabilized” overnight following Putin's annual Q&A…
Charts: Bloomberg
