U.S. equities opened the day to the downside. The DOW was off as much as 128 bones. Slowly, but surely U.S. equities climbed out of a hole to earn the coveted title of the Teflon Don. Within 15 minutes to the close the NASDAQ was positive, despite $AAPL being down, the DOW was nearly flat, and the S&P was one or two ticks away from unch.
Unfortunately, a sell side imbalance coupled with all eyes on Cyprus took the markets down in the last 8 minutes of trade.
DOW down 33
S&P down 0.86
NASDAQ up 4
WTI up $0.14
Gold up $9.3
The Fed has ‘All the Money in the World.’ They do what they want with it and you must grin an bear it.
[youtube://http://www.youtube.com/watch?v=GvCi4eU1C8o 450 300]
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