Only one thing for it really... xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Forget stocks, today was all about crude oil again... WTI pushed into the green for August!!! 3 Bear markets and 3 Bull markets now in 2015 so far... perfectly tagging the 50-day moving-average today... This is the biggest 3-day rise in WTI since 1990!! Oil Volatility and credit markets were not squeezed into euphoria at all... Trade accordingly!! * * * Having got that out of the way...Dow's worst monthly drop since May 2010 Stocks got some lift from the momo-igniters -but once NYMEX closed, it was over. Stocks traded in a relatiovely narrow range glued to VWAP after the overnight plunge... Small Caps outperformed as Nasdaq Underporformed... Futures markets giveus a better idea of the moves...NOTE -0 this is from the beginning of Friday's pathetic EOD ramp... Once again complete chaos on VIX ETFs... For the month, it's been a wild ride!! but just look at how clustered the moves were... For all the excitment over FANG - August was a mixed bunch for them with FB and AMZN notably red... G891 With all the craziness in stocks, Treasury yields at the long-end ended the month practically unch... 2Y rose 8bps... With some more notable weakness today (which was also seen in Bunds)...note once again selling weas in US session, buying in Asia and Europe... The USD ended the day lower with some major swings in CAD... As August's USD Index drop was the biggest in 4 months... Commodities were insane today - led obviously by crude! And on the month... perhaps most notably, the perfect recoupling of crude and gold on the month!!?? But we note that Gold (+3.5%) had its best month since January even as Silver dropped Charts: Bloomberg