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4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

Summary:
Dow futures plunged over 760 points after tagging yesterday's highs overnight, but those darn algos ripped the market higher in the last hour erasing the entire drop...  with the biggest buy program since February and biggest reversal since 2010 And the 4th biggest buy program of all time... In words... [embedded content] And pictures... Dow futs exploded over 900 points higher, taking out yesterday's highs and ending like yesterday at the highs of the day... On the day, Small Caps ended red but The Dow led the rest green... Quite a wild ride this week so far... The plunge was not a total surprise after economic confidence crumbled and job expectations crashed, but the buying panic had the same short squeeze and pension panic reallocation fingerprints from yesterday.

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Dow futures plunged over 760 points after tagging yesterday's highs overnight, but those darn algos ripped the market higher in the last hour erasing the entire drop...  with the biggest buy program since February and biggest reversal since 2010

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

And the 4th biggest buy program of all time...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

In words...

And pictures... Dow futs exploded over 900 points higher, taking out yesterday's highs and ending like yesterday at the highs of the day...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

On the day, Small Caps ended red but The Dow led the rest green...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

Quite a wild ride this week so far...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

The plunge was not a total surprise after economic confidence crumbled and job expectations crashed, but the buying panic had the same short squeeze and pension panic reallocation fingerprints from yesterday.

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

However, gold and bonds remain green since the Fed hike and stocks still down over 4%...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

It certainly has the smell of a massive pension reallocation as the moment stocks started to surge, bonds were dumped...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

Especially the long-end as pensions unwound as much duration as quickly as possible to cover the increased equity exposure...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

While the USD and stocks were correlated today, the former plunged and was unable to rip back with the magnitude of stocks...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

In fact the usd fell well short...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

Dollar weakness helped lift Silver again as crude slipped...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

Silver has dramatically outperformed gold in the last few days...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

But finally, no matter how much lipstick they put on December, it is still a pig...

4th Biggest Buy Program Of All Time Sends Dow Soaring Over 900 Points

Tyler Durden
Tyler Durden (a pseudonym) represents the idea that a return to truly efficient markets is a possibility and a necessity. After having experienced the inner workings of capitalism at various asset managers and advisors, Tyler believes that the current model is flawed and a deleveraging at every level of modern society is needed to reinspire the fundamental entrepreneurial spirit.

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