Leverage at Print Central

US equity indexes closed powerfully higher, sp +154pts (6.2%) at 2630. Nasdaq comp' +5.6%. Dow +6.4%. The Transports settled +4.1%.

sp'daily5

VIX'daily3

Summary

US equities opened on a positive note, which was a distinct improvement from overnight/pre-market. The gains were impressive considering the horrific weekly jobless claims number of 3.283M.

Powell appeared...

.. and duly suggested "... we may well in a recession". Ya think?

The afternoon saw considerable chop, but with a closing ramp to new cycle highs. Volatility was in cooling mode, the VIX settling -4.6% at 61.00.


Leverage at Print Central

The following is highly recommended, even if you can't stand 'the progressives'...



So... a special '$500bn fund'.
That fund is itself arguably to seen as being funded via the US Govt' issuing t-bonds, which will be bought by... can you guess?

Indeed, Print Central will be the buyer of those bonds, well, shortly after they've first been bought by the primary dealers, who then sell them to the Fed with a slight markup. Its good work if you can get it.

Of the $500bn fund, $75bn is set aside, with the other $425bn being credited to the Fed, whom might  leverage it up by 10x, offering a possible collective loan of $4.25trn to large/mid cap' US businesses.

In addition to the financial issues, the ethical conflicts and implications of what the Fed have begun are monstrous. The following is more of Dore, but with guest Rattigan. Again, whether you like either, its highly recommended...




 ps. If you're not mad after viewing the above, check you have a pulse.
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Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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For details and the latest offers, see: Permabeardoomster.com

Remaining very unstable

US equity indexes mostly closed higher, sp +28pts (1.1%) at 2475. Nasdaq comp' -0.4%. Dow +2.4%. The Transports settled +2.4%. Near term outlook offers some bearish drama into the weekend.

sp'daily5

VIX'daily3

Summary


The day began with another wheel barrow of guests on clown finance TV, not least Bullard - whom I'm still guessing with succeed Powell, and followed by the Ben Bernanke.

Bernanke was actually reluctant to even admit the US is in a recession, never mind an actual depression (GDP <10%). For now, the big names are mostly tip toeing on what is a horrific reality. 

With sig' gains reversing to sig' declines in early morning, this came to mind...

A $2trn bailout works out to around $14k per US taxpayer. These remain wild times within the twilight zone, and yes, we're gonna need a bigger bailout.

US equities settled mostly net higher, despite an ugly closing 15mins, as Sanders was threatening to block a bailout bill.

Intraday price action remains very unstable, as reflected in the VIX, which today settled +3.7% at 63.95. Thursday will be 'interesting', not least as we're due a 'historic' weekly jobless claims number.
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Bullish the green shoots of spring!

A rare sight these days, as the London skies are bizarrely quiet.

Another sunset closer to British Summer Time (BST)... due 2am, Mar29th.

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Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
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If you value my work, subscribe to my intraday service. 
For details and the latest offers, see: Permabeardoomster.com

Rebounding on bailout hopes

US equity indexes closed extremely higher, sp +209pts (9.4%) at 2447. Nasdaq comp' +8.1%. Dow +11.4%. The Transports settled +12.5%.

sp'daily5

VIX'daily3

Summary

US equities opened powerfully higher on hopes of a bailout agreement/vote, and built gains into the early afternoon.

Meanwhile, CEO Calhoun of Boeing was doing the media rounds...

His claim that the current aid packages can't be compared to past 'aid packages' is laughable, but even more so... contemptible. Boeing spent tens of billions in precious cash on stock buybacks. Hell, the company only withdrew the dividend last week.

Your views...

For the record, I'd support a bailout, but only if the US taxpayer takes control of 100% of the equity. Its safe to say Calhoun won't be accepting anything like that.
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In early morning, the Cramer was once again actively cheerleading for multi-trillion bailouts, and touting the importance of the Fed... just as he did in 2008.

The 'look', when Cramer needs a bailout

The afternoon saw considerable equity chop, with a closing hour ramp to settle at the highs, with VIX settling +0.1% at 61.67.
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One of the few departing planes

A brief moment of serenity

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Extra charts in AH (usually around 5pm EST) @ https://twitter.com/permabear_uk

Goodnight from London
--
If you value my work, subscribe to my intraday service. 
For details and the latest offers, see: Permabeardoomster.com