• Knave Dave
    05/23/2016 - 18:16
    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

Something Breaks: ES, Carry Crosses Tumble

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Tue, 05/24/2011 - 21:13 | 1307451 kato
kato's picture

was waiting for oyu to find out what it was. if you do not know yet, who does?

Tue, 05/24/2011 - 21:46 | 1307567 Don Quixotic
Don Quixotic's picture

No0b question: what does "ES" stand for?

Tue, 05/24/2011 - 21:53 | 1307591 Ray1968
Ray1968's picture

E-Mini S&P 500 futures

Tue, 05/24/2011 - 23:09 | 1307761 silberblick
silberblick's picture

Click below to see a visual graph of Bankster's dirty needs arranged according to Abraham Maslow's hierarchy of needs: http://thesilvergoldhedge.blogspot.com/2011/05/banksters-dirty-hierarchy...

Tue, 05/24/2011 - 22:13 | 1307637 Urban Roman
Urban Roman's picture

For example,

http://finance.alphatrade.com/quotes/quote?s=@ES.1

(futures on the S&P)

Tue, 05/24/2011 - 22:44 | 1307705 suldog
suldog's picture

Futures contract for S&P 500

Wed, 05/25/2011 - 00:57 | 1307968 ebworthen
ebworthen's picture

It's a good question.

Wed, 05/25/2011 - 01:06 | 1307981 Goldenhands57
Goldenhands57's picture

Some Futures Contracts are traded "mini" which is 1/5 the size (and cost) of a full Contract. A Full S&P Contract has quite a large Margin requirement...so Mini is accessable to more folks.  ES is a very activly traded Futures ..the Volumns are in fact astounding in a normal trade day! ES is one of favored of Futures Day Traders because of the ability to both enter and exit a position in very short periods of time. This is the symbol of this particular Commodity contract..ES  

Wed, 05/25/2011 - 03:28 | 1308141 DaBernank
DaBernank's picture

Excellent description, Gh57.

Wed, 05/25/2011 - 07:15 | 1308277 msamour
msamour's picture

Best description i've seen so far, Thanks.

Tue, 05/24/2011 - 22:21 | 1307658 luckylogger
luckylogger's picture

Just a little shock and awe to show Bennie boy what will happen.

enjoy and trade accordingly !

should be fun.

Tue, 05/24/2011 - 23:46 | 1307845 bigelkhorn
bigelkhorn's picture

I think this is something bigger set for the day. The market has been slow and wet and weak monday and tuesday. I think this means something HMMMMM

I subscribe to the guy from australia and his FFT economic newsletter at http://www.forecastfortomorrow.com  that guy has called many big events before they have happend, including the stock market crash in 2008 and the current financial collapse of the US. (currently happening) I found him from a friend last year, and he has some important work.

His oil calls are insane, and I have been making good money with them. He is well worth a look, if you want to keep two steps ahead of the sheeple out there.

I am worried about my financial future. Is anyone else nervous out there?

Wed, 05/25/2011 - 00:52 | 1307956 Crisismode
Crisismode's picture

Stop the spam, dickhead.

Wed, 05/25/2011 - 05:03 | 1308191 BigJim
BigJim's picture

I have seen this SPAM so many times now. Fuck off, twat.

Wed, 05/25/2011 - 06:57 | 1308256 ColonelCooper
ColonelCooper's picture

"Is anyone else nervous out there?" 

Do they actually put that line in a handbook for you stupid fuckers?  It sure seems like 5 or 6 hundred of you have used it.

 

JUNK. 

Wed, 05/25/2011 - 00:45 | 1307955 Two Towers AU AG
Two Towers AU AG's picture

Heard some news about someone buying about 40000 GLD Aug/Sept Calls the investment required was about 50 Million. Any idea who it might be.. and why bet on gold price rise in spite of rising USD... or is there somone with an expectation of USD falling sharply.. which would be in case the debt limit talks are not successful... just wondering...

The time of the FRN is over.. The time of Silverrrrrrr Bitchezzzzzzzz has come..

Wed, 05/25/2011 - 01:49 | 1308025 Don Quixotic
Don Quixotic's picture
OK, so I see some relatively big volume trading yesterday in September GLD Calls. Namely: 155, 158, 175 calls which are all out of the money. The thing is they in total only about 3,500 options traded hands at these strikes. I'll give you that the open interest for Sep Calls is huge at the 150, 155, 160, 170, and 180 strikes (all over 10,000 contracts some much more). Is that what you're referring to? I mean, there's no big open interest in the August calls that could accomodate a single trader with a position that big.  The other thing is, who the heck wrote all these calls and why? That's worth wondering about at least as much.
Wed, 05/25/2011 - 01:33 | 1308010 Don Quixotic
Don Quixotic's picture

And this is why I love ZH. Thx all.

Wed, 05/25/2011 - 02:31 | 1308075 BIGBOHICA
BIGBOHICA's picture

12:03 AM Stock index futures are steady at lower levels after a rapid 0.75% drop on rumors a snap election is to be called in Greece.

Wed, 05/25/2011 - 07:20 | 1308293 ToNYC
ToNYC's picture

 

If you play someone else's game for 10 minutes and don't know who is the patsy, it's quite likely you.

Tue, 05/24/2011 - 21:14 | 1307453 Belrev
Belrev's picture

Looks like another "oh my god the hell is breaking lose nothing important" moments.

Tue, 05/24/2011 - 21:44 | 1307554 tgatliff
tgatliff's picture

Exactly... I think a better explanation is that the crazy college interns at 33 Liberty Street forgot to finish their work before they left the office.   Gosh darn kids these days...

Tue, 05/24/2011 - 21:45 | 1307566 FastBoat
FastBoat's picture

Raising capital to buy some of that sweet AIG offering tomorrow.

Tue, 05/24/2011 - 23:09 | 1307763 ParaZite
ParaZite's picture

LULZ... anyone stupid enough to bail out the fed, take on their debt, and buy AIG deserves the fist fucking they are begging for. I thought it funny that money.cnn.com has a big expose on gambling, yet nothing about the dumb fucks who are going to shift their pension money into a nearly break even deal for the fed. I would THINK the American people would grow weary of bailing out wall street and it's beloved banks. 

Tue, 05/24/2011 - 21:20 | 1307459 Cdad
Cdad's picture

Tyler,

It was predicated by the closing of the AH session, and the fact that the S&P broke down today [or rather all but broke down today].  As for that second point, Carter Worth of Oppenheimer has publicly stated that this particular breakdown [1313], after three previous breakdowns [failure to make a new high, short term trend line, medium term trend line] was nothing but good news because of the powerful snap back rally this particular breakdown would produce.

And if you can understand what I just said, which is a summary of what Carter Worth said, then you are a very different person than I.

So...anyway...on to the Plunging and Screaming phase of this phony market then.  Hi ho.

Tue, 05/24/2011 - 21:20 | 1307473 SwingForce
SwingForce's picture

Ah yes, Carter "High Net" Worth, of 1313 Mockingbird lane.........

When was the last time he was right? "Pictures of Matchstick Men" now playing on TARGET TV commercial, all is weel, go back to sleep folks.

Tue, 05/24/2011 - 23:01 | 1307753 tarsubil
Tue, 05/24/2011 - 21:25 | 1307488 topcallingtroll
topcallingtroll's picture

It is funny how everyone including me gets either jittery or excited over small moves now.

There seems to be a good amount of fear and worry in the market. The talking heads cant even hide it on cnbc, except rick. I still dont understand why put call ratio doesnt confirm the fear i see in all of us, even mainstream people.

It just seems we cant go down far this soon. Most sheeple i know are still in cash and bonds. Even the zheeple are mostly out of stocks.

Tue, 05/24/2011 - 21:30 | 1307497 Cdad
Cdad's picture

Most sheeple i know are still in cash and bonds.

That is exactly why the criminal syndicate Wall Street bankers are nervous.  Almost three years and $5 trillion dollars spent...and  the largest rally in market history...and still, Average Joe does not give a shit about the stock market.

You answered your own query.

As for the put/call ratio, give it about 4.7 nanoseconds after the market opens below 1313...and then check your ratio again.  100% electronic.


Tue, 05/24/2011 - 21:43 | 1307562 Quinvarius
Quinvarius's picture

It is banker panic that brings markets down.

Tue, 05/24/2011 - 22:43 | 1307700 Founders Keeper
Founders Keeper's picture

[It is banker panic that brings markets down.]---Quinvarius

No.  I expect the serious downward market action will come when banks start eating banks. TBTF vs TBTF.

 

Tue, 05/24/2011 - 22:44 | 1307714 suldog
suldog's picture

TBTF becomes TBTR&H - Too Big To Run & Hide.

The hunters will eventually become the hunted.

Those will be fun days for sure.

Tue, 05/24/2011 - 23:14 | 1307774 RockyRacoon
RockyRacoon's picture

Yessir!  Banker posse forming at the saloon.  

Set 'em up barkeep, my men ride tonight!

Wed, 05/25/2011 - 00:12 | 1307895 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Dick Fuld's last words.

Tue, 05/24/2011 - 22:47 | 1307715 Land of the Ris...
Land of the Rising Sun's picture

+1

Tue, 05/24/2011 - 21:34 | 1307502 Trillax
Trillax's picture

Cdad, do you have an instant messaging account that you use (frequently or otherwise), there are questions I would like to ask that are not abusive or average run-of-the-mill troll?

One of the shortsight of the current ZH system (which I don't blame Tyler in much less the software underlying) or is there something that I don't know about, in some setting someplace that you can send private messages to other members?

Thanks.

 

Tue, 05/24/2011 - 21:38 | 1307529 Cdad
Cdad's picture

Nope.  You'll have to ask your question here.  It's a brotherhood.  I do not think arranging a private room is necessary.

Tue, 05/24/2011 - 21:54 | 1307590 Trillax
Trillax's picture

Understood and respected.  I am not in the same caliber that you, CD, Sheepdog, and others that I respect imminently, nor am I a trader by profession.  However, I would like to understand some of your comments.  You mentioned, ".. three previous breakdowns" in context this means the S&P, am I correct?  If so are you referring to: 8/1/10, 6/1/10, 2/1/09 (on average) or is my charting software on the brink or am I missing the picture completely?

I take your comments in the context of '[failure to make a new high, short term trend line, medium term trend line] was nothing but good news'.  Yet, but I look in the context of 2/1/09-> onwards on a news trend I don't see things (even with the delusion of the market that's it's "permi-good" out there) that overall things have contextually changed.

So knowing what you know -- and forgetting what I know -- beyond the manipulation in the market.. Why do we still see swings to the downside which are expected, yet every day at 11-3pm EST the market always closes in the green?

Wow.  Nevermind.  Beyond PTT and the obvious I think I just answered my own question.

Wow.
 Thanks totally to the obvious anyhow.  I'm sure I'm gonna get flamed.

Tue, 05/24/2011 - 22:03 | 1307612 Cdad
Cdad's picture

My comments about technical break points came from Cater Worth last night on Fast Money over at the BlowHorn [CNBC].  Failure to make a new S&P high was the first break, and the other two were trend lines that C. Worth drew...each of which was violated.  He then went on to suggest that the fourth break would be the jackpot!  Uh huh.

As for why the market always snaps back:  POMO.  And more to the point, the criminal syndicate Wall Street bankers have been training folk for months now to be good lil' dip buyers...which is exactly what the criminal syndicate needs now that POMO is ending...you see.

Anyway, I think you got it all figured out.

 

 

Tue, 05/24/2011 - 22:08 | 1307626 Trillax
Trillax's picture

.."As for why the market always snaps back:  POMO.  And more to the point, the criminal syndicate Wall Street bankers have been training folk for months now to be good lil' dip buyers...which is exactly what the criminal syndicate needs now that POMO is ending...you see."

Mmmhm.

Thank you for leading me down the trail.  Wow.  I have some reading to do..

Tue, 05/24/2011 - 22:50 | 1307725 suldog
suldog's picture

The old "triple top" can be a powerful signal.

If you try three times to break through an area but fail, all of the traders on the side that was trying to 'break through' can capitulate and even reverse their positions culminating in a change of market direction.

In simpler terms, three strikes and you're out. 

Wed, 05/25/2011 - 02:07 | 1308037 tickhound
tickhound's picture

Yup... Often even in the shortest of time scales (ticks), it can be said that there's no such thing as a triple top, or bottom.

Tue, 05/24/2011 - 21:17 | 1307461 SkySavage
SkySavage's picture

Still dropping...off 6.5 now.

Tue, 05/24/2011 - 21:18 | 1307465 Chicago bear
Chicago bear's picture

Maybe Panetta said, "EKIA"

Tue, 05/24/2011 - 21:18 | 1307468 Goldtoothchimp09
Goldtoothchimp09's picture

technical break of important support.  It's a technical move.

Tue, 05/24/2011 - 21:22 | 1307479 Billy Shears
Billy Shears's picture

Some kind of modified flash crash?

Tue, 05/24/2011 - 23:18 | 1307779 DeadFred
DeadFred's picture

Perhaps someone is beta testing their newest flash crash modification to their HFT algo just in time to remind the state AGs that the 5 in 5 billion means 5 not 17.

Tue, 05/24/2011 - 21:25 | 1307480 SwingForce
SwingForce's picture

Its a FLUSHOUT, bang the stops, shut the front door, back the truck up, if it was really The End, don't you think "they" would need the MOST bagholders? Why flush? Get Giddy widit.

Tue, 05/24/2011 - 21:24 | 1307482 TumblingDice
TumblingDice's picture

It could have something to do with a broken trendline from Aug '10 being broken. Over the last two years most down moves were made to look impulsive and decisive, being sharp aggressive shock and awe affairs that were then aggressively bought...May 6 being the best example. This latest down move looks like a corrective bull flag, maybe to lure some bagholders in before the maelstrom.

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