The stock market (New York Stock Exchange) on Tuesday in the first half of 2013 had a 20-week-long streak of always entering positive territory at the end of the day. The Wall Street Journal had an April 23, 2013 “Moneybeat” blog post titled “The Stock Market’s Ridiculous Tuesday Streak Lives On.”
The financial blog Zero Hedge published many posts noting the Tuesday winning streak on Wall Street. The nickname “Turbo Tuesday” appeared in comments on May 14, 2013. A May 28, 2013 Zero Hedge article was titled “Traders Taunted By ‘20 Out Of 20’ Turbo Tuesday (With POMO).”
Similar Wall Street nicknames for Tuesday iinclude “Turnaround Tuesday,” “Rally Tuesday” and “Terrific Tuesday.”
POMO + Tepper + Tuesday = Total Equity Disconnect
Submitted by Tyler Durden on 05/14/2013 10:28 -0400
It’s Tuesday. It’s a big POMO day. And sure enough, equities are in full-tilt melt-up mode. In the face of a stronger USD, rallying bond market, higher VIX, and widening credit spreads, the S&P 500 has smahed through yet another set of stops, squeezed shorts wherever you can see, and made new all-time highs. Mardi Gras indeed… though one wonders what happens when Europe closes and POMO is over.
Tue, 05/14/2013 - 10:38 | 3560394
Someone yesterday called it Turbo Tuesday. That was a great name.
The Market Isn’t Prepared For This
Submitted by Tyler Durden on 05/14/2013 13:23 -0400
Tue, 05/14/2013 - 13:52 | 3561396
TURBO TUESDAY POMO BITCHEZ
Traders Taunted By “20 Out Of 20” Turbo Tuesday (With POMO)
Submitted by Tyler Durden on 05/28/2013 06:48 -0400
First, the important news: in a few hours the Fed will inject between $1.25-$1.75 billion into the stock market. More importantly, it is a Tuesday, which means that in order to not disturb a very technical pattern that will have held for 20 out of 20 Tuesdays in a row, the Dow Jones will close higher. Judging by the futures, this has been telegraphed far and wide: it is a Ben Bernanke risk-managed market, and everyone is a momentum monkey in it.