So to summarize: stocks are at all time highs on a Trump plans that nobody has any clue what it will be like; and oil is surging on an OPEC deal that earlier today was not happening, but which Iraq is now happy about, implying it won't have to cut and Saudi Arabia will throw up over everything
On the day, stocks opened higher then rolled over into the European close before surging higher for the rest of the day… and then Complete and Utter panic buying in the last few minutes of today…
Dow 19k…
S&P 2,200…
VIX was pushed lower once again to try to ensure the big figures for the Dow and S&P…
Russell 2000 up 13 days in a row – the longest streak since February 1996… (so much for the random walk)
For those thinking about "valuations" – silly-billies…
And the less aggressive EV/EBITDA shows Small Caps trading at double their 'norm' valuation…
The last time all the major indices closed at record highs on the same day (apart from yesterday)…
Which deserves its very own video…
"Most Shorted" stocks have now risen for 12 of the last 13 days – the biggest short squeeze since the March 2009 lows…
While The Dow is doing great post-election, we note that Goldman Sachs alone accounts for 27% of all the gains…
Small Caps don't seem to care that their cost of funding has surged…
HYG (HY Bond ETF) rallied to a crucial intersection of 50- and 100-DMA…
The long-end continues to outperform…
The Treasury Curve steepened modestly today after plunging for 10 days…
Not flashing the same bullish signal that bank stocks believe in…
US Financials credit risk pushed on to one-month highs… desite the exuberance of shareholders…
The Dollar Index declined for the 2nd day in a row…
Gold, Silver, Copper, and Crude are all higher on the week…
The crude complex was complete chaos today as OPEC headlines were all that mattered ahead of tonight's API data…
via http://ift.tt/2fosjY2 Tyler Durden