A Sad Day for the Market

There's something I love and I think a lot of us love about the market that I'd sum up as, "Do your homework, pay attention and find that one thing everyone else missed and you'll be rewarded" .

I think today and overnight, we see just how weak and pathetic this market is and not just the US, but the global market including the Nikkei.

I expected risk assets to see a rise and that could and probably would have included equities, but there was a reason why I thought this was a probability and I went to great lengths to discover that probability.

I even it last night and yesterday, "I think this market has no organic strength left, just manipulation tricks".

In fact I named them, Arbitrage schemes, HYG ramps, VIX smack-downs and Carry trade crosses.

This...

 10 point ramp in ES that sent the Nikkei up 1% almost immediately, is a disgrace and very sad to see.

The ONLY reason this happened was due to this...

 A ramp nearly straight up in all of the JPY carry trade crosses like EUR/JPY above.

And this was the ignition...

A smak down in the Yen.

There was no reason for this, no news whatsoever.

THIS IS MIDDLE OF THE NIGHT, LOW VOLUME MARKET MANIPULATION AT ITS WORST. 

I think this just shows how weak the market is that they have to ramp it so obviously on no news. It's like pure gambling, bet on red or black, whether they ramp the market or not.

Yes this ramp sent our MCP long up thus far, our GLD long, our GDX long,  and some others (likely our Treasuries trades)... But is this how you want to win or lose?

I suppose every dark cloud has a silver lining, even this disgrace. It would seem if they need to resort to such blatant tactics without even trying to disguise it behind news, the desperation is palpable, I think that's worth knowing and seeing what the pros do with this because at some point when retail is fully vested as they are at record margin levels and pros have had it like Dan Loeb, there's nothing left to hold these ramps up, in fact I'm interested to see how they use this one and how long it holds.

Until then, today is simply a sad day for those of us who love the market and not this blatant manipulation.