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If You’re Buying Stocks During The US Day, You’re Doing It All Wrong

Courtesy of ZeroHedge View original post here.

Big rollercoastery day in stocks as overnight gains in futuresville were once again erased after the open, only to be ramped back magically…Small Caps ended the day up over 3%… for absolutely no good reason at all (and don't ask us why it was panic-bid into the close, why not!)

For some context, May has been a terrible month for anyone buying during the US day session. The S&P 500 is up 171 points during the overnight sessions and up 1.3 points during the day session…

So, adjust accordingly…

Fears over mega-tech Chinese firms delisting and increased sanctions against China over its dealings with Hong Kong, sent the yuan to its record low intraday…

Source: Bloomberg

These headlines also hit FANG stocks hard (as well as threats from Trump over social media bias)…

Source: Bloomberg

Trannies are now up around 8% on the week (as airlines take off on re-opening/vaccine "hope"), and Nasdaq scrambled back into the green on the week…

The market was helped early on when Robinhood went down and that reversed the downtrend…

Source: Bloomberg

The major reversal in momentum vs value in the last two days continues…

Source: Bloomberg

The Dow pushed up to its 100DMA today

Bank stocks surged for the second day in a row…

Source: Bloomberg

Bonds were mixed today with the long-end bid and short-end seeing modestly higher yields…

Source: Bloomberg

10Y Yields tumbled from overnight spike highs back to unch on the week…

Source: Bloomberg

Choppy day in the dollar today, but it ended higher..

Source: Bloomberg

Bitcoin appeared to benefit from yuan weakness…

Source: Bloomberg

Oil was down hard today ahead of tonight's API inventory data after headlines about Russian production…

Precious metals were punched lower once again around the London Fix but bounced back dramatically…

Silver outperformed gold, pushing the gold/silver ratio to 98x – its lowest since 3/12…

Source: Bloomberg

Gold in Yuan fell back within its recent range…

Source: Bloomberg

Finally, this won't end well…

Source: Bloomberg


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