Japan's Nikkei was down more than six percent on Thursday, the US$/YEN carry trade busted as that fell below 94. Stocks in Europe were down hard. By all indications, US stocks should have taken another serious leg lower, but instead, we got an algo-driven, out-of-the-blue hockey stick magic rally that erased the declines of the past two days on marginal volume.
This is why individual investors don't trade in or trust the stock markets. They are rigged - and broken - beyond anyone's wildest imagination.
Dow 15,176.08, +180.85 (1.21%)
NASDAQ 3,445.37, +44.94 (1.32%)
S&P 500 1,636.36, +23.84 (1.48%)
NYSE Composite 9,331.37, +141.93 (1.54%)
NASDAQ Volume 1,548,629,625
NYSE Volume 3,840,153,500
Combined NYSE & NASDAQ Advance - Decline: 5176-1318
Combined NYSE & NASDAQ New highs - New lows: 155-395
WTI crude oil: 96.69, +0.81
Gold: 1,377.80, -14.20
Silver: 21.58, -0.213
Thursday, June 13, 2013
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