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Manic Merger Monday Saves Stocks As China Currency Crashes To Record Low
10-24-2016, 04:53 PM,
#1
Manic Merger Monday Saves Stocks As China Currency Crashes To Record Low
Manic Merger Monday Saves Stocks As China Currency Crashes To Record Low

<p>Mega-Mergers and Pumping PMIs...</p>
<p><iframe allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/StTqXEQ2l-Y" width="560"></iframe></p>
<p>&nbsp;</p>
<p>Offshore Yuan crashes to a record low...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD1.jpg"><img height="313" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD1_0.jpg" width="600" /></a></p>
<p>&nbsp;</p>
<p>And a huge merger with Time-Warner... <strong>(Nasdaq 100 new record high)</strong></p>
<p><img height="315" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161022_nasdaq_0.jpg" width="600" /></p>
<p>&nbsp;</p>
<p>Futures show the excitement best...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD9.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD9_0.jpg" style="width: 600px; height: 349px;" /></a></p>
<p>&nbsp;</p>
<p>Stocks ramped at the open, but went sideways from that point... <em><strong>(Only NASDAQ closed higher than its opening print)</strong></em></p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD12.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD12_0.jpg" style="width: 600px; height: 400px;" /></a></p>
<p>&nbsp;</p>
<p>Nasdaq was unable to get green on the month despite the ramp...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD13.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD13_0.jpg" style="width: 600px; height: 413px;" /></a></p>
<p>&nbsp;</p>
<p>AT&amp;T, Time-Warner&nbsp; both sold off on the 'deal'...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD2.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD2_0.jpg" style="width: 600px; height: 464px;" /></a></p>
<p>&nbsp;</p>
<p>GOOGL hit a new record high (along with NASDAQ 100)</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD10.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD10_0.jpg" style="width: 600px; height: 317px;" /></a></p>
<p>&nbsp;</p>
<p>For the first time in 10 days, stocks managed a ramp into the close but once again VIX slid lower (to a 12 handle)...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD11.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD11_0.jpg" style="width: 600px; height: 363px;" /></a></p>
<p>&nbsp;</p>
<p>Treasury yields rose on the day - all squeezed at the same time in the pre-open...(the entire move happened between US open and EU close)</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD8.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD8_0.jpg" style="width: 600px; height: 313px;" /></a></p>
<p>&nbsp;</p>
<p>The USD Index rose again to new 8-month highs led by JPY weakness</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD7.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD7_0.jpg" style="width: 600px; height: 315px;" /></a></p>
<p>&nbsp;</p>
<p>Oil closed lower on the day - despite a bounce of $50 - copper and silver closed higher...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD6.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD6_0.jpg" style="width: 600px; height: 316px;" /></a></p>
<p>&nbsp;</p>
<p>$50 was defended aggressively...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD3.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD3_0.jpg" style="width: 600px; height: 372px;" /></a></p>
<p>&nbsp;</p>
<p>Again...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD4.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD4_0.jpg" style="width: 600px; height: 345px;" /></a></p>
<p>&nbsp;</p>
<p>Silver spiked - running stops - before plunging back...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD5.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/10/22/20161024_EOD5_0.jpg" style="width: 600px; height: 289px;" /></a></p>
<p>&nbsp;</p>
<p><em>Charts: bloomberg</em></p>


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