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Volume Surges As Market Goes Into Free Fall
The market is in free fall, and guess what: volume literally explodes in ES. Check out the surge in volume on the 1 minute chart below. The catalyst: EURUSD drops below 1.23 again. We are confident that HFT liquidity providers will continue to assimilate the sell off in their desire to continue their many years without a losing day.
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HF Stop?
Nope... lets blame it on another round of ES selling by an asset management firm in Kansas... again.
So... darn... un-American.
</sarcasm>
You are going to get the Tax man stuck between your Butt cheeks, or worse Tyler.
God Love Ya!
God Protect Ya!
My very best wishes for you and yours Tyler, JW
Volume will dry up shortly and the afternoon melt-up will commence.
Well, that didn't take long...here we go.
nice.
Turn those machines back on! There, fixed.
I love extreme sports. Got my parachute, how bout you?
http://abcnews.go.com/Travel/story?id=8061175&page=1
Well atleast gas will be free..Freakin oil in free fall..
silver dropping in tandem with oil. Thats so the arabs wont be pissed.
Yeah, but copper is at a 15 month low, so silver has seperated from the industrial side a little bit..It use to go step for step with copper.Now its going with gold.
copper crashing hard with china transforming economy
Dr.Copper is trying to tell everyone something.
Gold is nearing a short term top, probably to occur at about the same time the Euro bottoms between 110-118.
Dollar, yen, copper, oil saying carry trade unwind occurring on realization that all is not well.
Gold saying that sovereigns may start going kaput, along with major currencies.
Austerity will collapse the credit growth system as a matter of mathematics. There won't be any growth in credit to pay even simple interest on the existing monetary base. The entire monetary system worldwide is functioning in a state of effective default as we speak.
"Dr.Copper is trying to tell everyone something.
Gold is nearing a short term top, probably to occur at about the same time the Euro bottoms between 110-118."
Top-bottom. Some bitches just won't flip.
Silvertrain, Thanks, did not notice that. I still got a few bars and rounds and am so glad i bought them. Not looking for profit but as a real asset for difficult times. Am considering telling customers if they want my future services to pay in silver. Sometimes payment takes 30 days, how do i know in 30 days, or even a week the dollar will still be good? I dont know and its taking the motivation out of going to work. As it stands i dont have to work since my maintenance is extremely low. No truck or house payment, lots of stored food. It would help a lot to know how much longer this can drag out as my contractor license renewal is next month. I dont know to stay in business or just quit. Costs 1,200.00 to reup. I have it set aside but doubt the economy will make it worthwhile.
Anyone have a clue how much longer till we fail? If its all a matter of math someone should have an idea.
If I had to guess, I'd say the despair / renewed hope sawtooth pattern can continue for many months, albeit on a downward trend, before capitulation and final fail. Disclaimer: I have no idea what I'm talking about. But on the plus side: I also have no formal training in economics.
LOL yes, good disclaimer. glad for bit of a giggle; pretty serious day, otherwise.
It's crashing. It's just a process. Doesn't happen overnight. Be careful what you cling to.
I've considered quitting my job because I don't want to spend the prime of my life in a job I hate, making "money" I consider worthless (but still use as long as other people accept it). Haven't quit yet, though.
Thanks for typing my life out there for everyone to see. At the same time I am grateful to have the job too. Everything is grey, kinda like volcanic ash... no clear flying.
Regarding renewing. How many months can you live on the 1,200? I ask because I was offered a buyout that I did not take. If I had, the severance would have run out last July. At the time I had to ask myself if I thought the economy would hold our till last July, thus beating the severance. I'm still working, the economy is still up and running, so I made the right choice. Their is a rumor of round two of buyouts. We shall see...
C'mon in, the water's fine! I spent (sorry, Bill... invested) about that much keeping my Realtor credentials current for 2010. My colleagues say, roll with it, it's cheaper in the long run than trying to get a new license later on. Funny thing, I am less sure of that now, than I was last December. Here's hoping you're still in biz when I'm ready to remodel.
went all in oil this morning. i'm betting with the arabs..
ASSALAMAAAMULAKUM! ayayayayayayaeeee . ayyaaayeeeee!
oh btw,
Sorry about the dead sea turtles, and screwing up your vacation to the keys,
and white sand beaches turning into black sand beaches with a putrid oil smell.
MUHAHAHAHAHAHHAA..
The new trader generation is about to learn a knife catching dip buying lesson on a daily basis as price discovery shows them how much these equities are truly worth in coming months.
Knife catching lesson? How about live chainsaw-catching?
A mix between sword and chainsaw swallowing?
Live chainsaw swallowing... NOW you are talking....
It is already bouncing back...momentarily.
Yeah, that was fast. Eat, brush teeth and then find the Dow -100 more than I looked before...
Mopped up at 1114 or so
Someone is defending 1.2300 with all the ammo they got. It is almost like their job depends on it.
Wonder who it could be?
The Swaptastic Superman! His secret identity is unknown to me, because I cannot see through the beard and blinding shininess of his swaptastic head.
Maybe there just arent more sellers for the time being?
maybe i am giselle bündchen?
Still taking them euros?
Maybe we should meet for dinner???
Prove it Lizzy. Bakini shots or it doesn't count.
Oops Bikini -fat finger problem
Prove it Lizzy. Bikini shots or it doesn't count.
Here again is the type of coincidence that indicates that there is no reality to the stock market. People trading on this market had better be part of the good fellas or have a wish to see their capital explode in a blue hot flash.
More social good deeds by HFTs providing us with vital market liquidity.
What a joke!
LEO : HF BUYDIP
:)
Sorry to be so illiterate, but what is ESMO Index?
Harry, where are you? We need some assurances! Just look at this dip!
Should i buy or jump? Tic , tac, toe.
I'm sure I can speak for Harry - yes! yes! buy this dip. We're going to bounce off support here, fundamentals are fantastic!
lol , Al
The fundamentals are machines and they are pushing higher regardless of how you or anyone else feels about it.
Feel free to quote me as well.
S&P Emini contracts
Look under futures prices on right hand side here:
http://www.ino.com./
/ES is the S&P 500 futures - MO is Month 0, or front month.
Not quite, M is for June, 0 is for 2010.
After June we will mostly be selling ESU0.
http://en.wikipedia.org/wiki/Delivery_month
Dow is heading to were it should be without all this artifical liquidity <5,000.
Expect the afternoon 3 - 4pm buying to pump it up by the ponzi masters.
Don't worry - it is just Barclay's "working in" another sell order.
Algos back online.
Now I have the Tom Petty song stuck in my head...
Fear not, the liquidity providers will paint the tape green before day's end.
As you predicted. Great call!
It's a Monday. Stocks almost always go up on Mondays. Don't worry. Be happy. The PPT will weather this and it will melt up in the afternoon.
I heard a radio report of money falling out of the sky in Chicago and on Wall Street. Uncle Benny is making good on his promise.
Slightly off topic, and once again not to make too much out of this, but physical gold up paper not so much, and that sell off down to 1125 psychologically barely registered in PHYS.
Sorry guys, I just find this stuff so bloody interesting.
http://finance.yahoo.com/echarts?s=PHYS+Interactive#chart6:symbol=phys;range=1d;compare=gld;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Whats the difference between Tiger Woods and Santa Clause?
Santa clause stops after the 3rd Ho.
Tiger Woods' Dad's last words to him: "Son... focus on golf - be the best you can be... screw everything else" ...
This is obvious, but it just occurred to me in a way that makes sense. All this money printing and ZIRP is not creating inflation but preventing deflation because it is primarily going to banks to buy stocks and create the illusion of wealth for folks with stock/bond assets. Makes them feel better. That is also why they can't separate Investment Banks and Retail banks (Glass-Steagall) because retail banks have unfettered access to discount window. Investment banks historically have not.
They CAN'T cut the umbilical cord. The economy would immediately go into cardiac arrest.
We are in some deep doo-doo here and not many people realize it. In fact, I would say most people either don't realize it or don't want to realize it.
This is my take on things, Bernanke is playing whack-a-mole. Right now the problems are Europe and funding the treasury borrowing needs until the elections in November. Their planning horizon is 6 months at most.
So I am a newby, macro economics is just a passing interest, but here are my theories:
Europe became a higher priority due to their inability to solve their own problems which are getting out of control. My guess is Germany agreed to monetize in exchange for a lower Euro and better deal for their exporters. So the banks get bailed out, Germany makes more money on exports in exchange for some inflation. Roll the dice.
The biggest problem the US has is a potential failed treasury auction, this would be catastrophic. So Europe has agreed to take the $$ that Bernanke sends them and buy treasuries, along with a declining stock market forcing investors into treasuries and we can fund our deficits for a while. After November, spending will be “reduced” and taxes increased dramatically to provide some cover for the politicians.
They will feign fighting the decline of the Euro, but it is headed to parity IMHO.
None of this will ultimately work of course, but it gets us into early 2011 still hanging on …. maybe a miracle will occur.
sschu
I don't think their planning horizon goes past 3 days maximum at this point. Too many problems are popping up too often now for them to have a plan. To wit, the currency action of last night and this morning.
I can repeat this ad nauseum:
without growth in credit there is NOTHING to pay even SIMPLE interest on the existing credit base! The credit base IS the monetary base because the only way money exists is by being borrowed.
The monetary system worldwide is operating in an effective state of default.
Shhhhhhhh... you are not spreading the green shoots, we are the world and / or hug it out! approved bullshit!
It took you THAT LONG to figure that out, PSquared??? ;)
You know the fly in the ointment on the confidence boosting campaign, don't you?
Real disposable incomes. They are going nowhere-- and credit will continue to contract. The lack of real income progress is showing up in consumer confidence. All this time and effort and useless paper money-- and they are not fooling enough of the huddled masses.
ZIRP won't cut it, either. The Fed will have to revisit QE just to offset ongoing deflationary forces. They may do another round, but the result will end up being the same.
Bennie Mae keeps on digging in that doo-doo pile, expecting to find a diamond. Unfortunately, it's just more doo-doo that will need to be sanitized.
CNBC's response to global meltdown:
"Home Builder Confidence At Highest Level Since August 2007 (click here)"
Let them eat cake and live in McMansions!
Has anyone run a correlation between home builder confidence, and availability of hallucinogenic drugs?
Wow; that's amazing. All the propaganda that's fit to print.
A slow bleed is better than a crash. The crash will come at the end and create a buying opportunity in a few months. Meanwhile - better to lose S&P points in 10s and 20s . Thats bear market action.
GLOBAL DAY OF JUBILEE COMING SOON TO GOVERNMENTS ACROSS THE WORLD. The price the citizens will bear will crush us!!!!!!
I see the idea of Global Jubilee coming up all the time now. Maybe setting us up?
Jersey is so pretty this time of year! You are soooooooooooooooo Lucky!
Impressed by your geographical smarts ... but it doesn't look pretty from across the river.
As the name would imply I am in Florida… I almost split my time between Jacksonville and Palm Beach…
Back to your point of Jersey looks ugly from across the river… well I would note that Suffering a summer in the City is far worse that even Jersey, no matter which exit… But I am truly thankful for the service people who make all of this possible. Please keep up the good work and don’t let the city heat get you down.
Well you were correct for a bit but then more positive housing news hit and we jumped up on some decent volume. Seems like the drop has run out of steam after a few days hovering around these levels.
We had a strong Empire State number and now a Strong Housing Index. If everyone here would start to take a look at all the positive economic indicators of the past several sessions rather than a drop in the Euro, it's easy to be optimistic.
You're beginning to sound like NAR. How much did Obama pay you to post here?
"We had a strong Empire State number"
Explain that one to me.
How's this?
"Manufacturing activity remains very strong in the New York region though it did slow from April's exceptionally strong pace. The Empire State index for May came in at 19.11, well above break-even zero to signal significant growth compared to April. The April index was 31.86, to indicate vast acceleration from March.
The key here is that May's numbers may be lower than those in April -- but that doesn't mean May is weak. New orders came in at 14.3 on top of April's 29.49 to extend a long run of monthly gains. Shipments, at 11.29, increased compared to April though the monthly rate of growth slowed. Hiring did not slow with the employment index up more than 2 points to a very strong 22.37."
when? where? what are you talking about?
Just relax dude and let the system collapse. Its the best what can happen to us.
Yes, the HFT Borg will continue to assimilate except this time support is futile!
why? is the FED out of paper?
Hmmmmm?!
Silver holding support at $18.888888, and this is the second down Monday after no down Mondays for how long? Decoupling and can anything catch PMs?
How to treat the stock market in 10 easy steps:
I do not know if there will be ten I picked a number at random. First, control gold and the whole of the Precious Metals market by owning most of the gold in Central Bank Reserves [audit]. Second control the silver privately through Barclays silver ishares trust. Also control silver through the Comex. Then control gold from the comex as well. Also have gold companies "hedge" or front loan gold that has been sold and bought on one of the said exchanges (forgot to mention LBMA, sans deRotheschildes). Barricks, for example, did carry the largest hedgebook, and maybe still do, but they closed out on most of it last year. If you are a Central Bank Loan the gold at 100-1. Then bid on the silver without holding it in the first place only to leverage it at 100-1 too. Then bid against the metal in a currentsea from your assets (pick your poison, most CB choose doelarrs).
After exerting all of this pressure, partly weighted with Tungsten, the gold price everywhere is a farce of its REAL worth.
This is why banks/depositories hold so much sway. They lock down a whole sector of the market.
Next step, move to the fake currentseas.
How many loans and at what increase before people realize they will not be paid back in weight. Home building sentiment is up? What a joke! All that means is the people who were not suckered into the real estate scam the first time are now falling for that trap. We are in the middle of the second leg down in the housing market. There are four legs.
The currentseas that backed these debts and others are holding a massive amount of water. The wall has been breached; bail as they might there is no saving that ship. Paper money has sank.
Interestingly their solution is a new and better way of using paper FIAT. One currensea will solve the problem. That way it will be fair. Trichet is certain that a G20 is an improvement of the G7. Well, what are your qualifications? Motivated in hope by a G33?
"One ring to rule them all and in the darkness bind them."
There may still be six months before a new world currentsea (SDR bank to make make the first loan to the State, and then the loan is circulated accordingly, holding what as an assett, gold and silver? Debt issuance? So we pay the interest to China from the SDR to the IMF? As if the Federal Reserve was not bad enough. Maybe six months before this is considered on a global scale. Frace's Sarkozy (as not to be confused with the Carlyle Group's) has mentioned numerous times for a new world currentsea- as far back as the Swiss Bank meeting in Davos.
I think they have enough rabbits to pull out of the hat to last another decade. Fake employment, export, inventory and profit numbers. Fed hiding its balance sheet, declining market forces more money into treasuries and "presto" you have another bubble.
The next bubble pop will be the big one, but not before 2015-2020. (unless the Mayans were right ... but they probably worked for GS back in the day)
Can anyone explain why DTG has gone from $4 to $50 in twelve months??? I know the car rental business is not that good.
Yawn. This article is so four trading hours ago.
Maybe (probably) these volume posts are a contradictory indicator.