Google Implodes But Dow Ramps To Unchanged To Preserve Confidence

Tyler Durden's picture

ICYMI - GOOG -8.1% weighed heavy on the entire tech sector which really needed little help after IBM and INTC's earlier disappointments. But while there was a caTECHstrophe there, when GOOG re-opened, algos ran wild and ramped S&P futures all the way back up to VWAP and GOOG made a valiant attempt to reach that mystical level also. But we should not fear, for reading too much into the fact that three of the world's largest tech companies are doing poorly is no reason to not BTFD and so it is that the Dow Industrials and S&P closed only marginally lower and Dow Transports had a green day (never seeing red). USD strength in the afternoon - as GOOG scared - pushed commodities down with silver doing worst and gold -0.77% on the week. Despite general equity weakness, Treasury yields limped higher in the afternoon now up around 17bps on the week. Oil round-tripped after dumping into the US open as weak macro data hit and then resurging on news that the Keystone pipeline would be closed to a few days due to 'anomaly'. VIX ended unch at around 15%. S&P futures are fading off VWAP after-hours.

 

On the week, NDX is the worst performer and Trannies the best...

 

S&P futures ramped to VWAP in the last hour or so as GOOG reopened...

Tech is the worst of the week (AAPL -1.9% today and GOOG -8.1%) - but still green as Materials are up over 4%...

 

Commodities dropped as USD strengthened in the afternoon - and Oil roundtripped on demand and then supply concerns...

 

and here is GOOG - with the after-hours target marked in bright red!

 

Charts: Bloomberg

Bonus Chart: MSFT - the only part that counts - a total fudge (Morgan-Stanley style...)

 

MSFT:

  • *MICROSOFT 1Q EPS 53C, EST. 56C                         :MSFT US
  • *MICROSOFT 1Q REV. $16.01B, EST, $16.39B                :MSFT US

AMD

  • *AMD 3Q ADJ. LOSS/SHR 20C, EST. LOSS 15C                :AMD US
  • *AMD TO CUT 15% OF JOBS; 4Q REV. FORECAST IS BELOW ESTIMATES
  • *AMD SEES 4Q REV. $1.1B-$1.21B, EST. $1.31B             :AMD US

MRVL

  • *MARVELL TECHNOLOGY SEES 3Q REV. $765M-$785M, SAW $800M-$850M

CMG

  • *CHIPOTLE MEXICAN GRILL 3Q REV. $700.5M; EST. $703.7M   :CMG US
  • *CHIPOTLE MEXICAN GRILL 3Q EPS $2.27; EST. $2.29        :CMG US
  • *CHIPOTLE 3Q COMP SALES UP 4.8%, EST. UP 4.9%           :CMG US



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PUD's picture

Marketwatch..."brothels bailout greek soccer teams"

Wakanda's picture

Gives new meaning to "soccer mom".

JPM Hater001's picture

CNBC News today: "A study from American Express Publishing and Harrison Group shows that holiday spending will grow 33.5 percent among the top one percent of earners this Christmas, to $3.4 billion. The average family in the top 10 percent of Americans will spend more than $1,600 on gifts this season."

So you got that.  You WILL Spend more and the 1% is spending as much more as they can...

As you were sheeple.

vast-dom's picture

thanks to Capital One ghetto bank preying on insolvent poor desperate people with insane interest credit card offers. when will this motherfucking ponzi shit itself to a 450 SP?

RSBriggs's picture

When the world runs out of poor people?

NotApplicable's picture

You mean unbanked poor people.

flacon's picture

If you bought a put you could have made 3600% in a matter of a few minutes:

 

http://imageshack.us/a/img443/1658/googoct20.jpg

CrockettAlmanac.com's picture

For ye have the poor with you always, and whensoever ye will ye may do them good: but me ye have not always.

Spastica Rex's picture

The ponzi ends when the world runs out of American aircraft carriers.

ACP's picture

After a quick bite to eat, the "how do we un-fuck ourselves from having our planned Friday OPX manipulation blown out of the water" conference calls begin.

 

mrktwtch2's picture

vwap?? whats that stand for??

RSBriggs's picture

Volume weighted average price - Google is your friend.  Oh....  Wait....

CvlDobd's picture

Not too sure about that. Lots of later 911 and 912 parts bolt right up to an earlier Beetle.

infinity8's picture

Holy shit you got me! ++

ebworthen's picture

Damn, going to have to Google that now...

CvlDobd's picture

I have not yet uploaded my imagination to YouTube. I'm waiting for it to become mandatory.

HD's picture

I like to buy a vowel - give me an "o"...

ebworthen's picture

Over 12 million shares traded today in Google, ten day average is a little over 2 million per day.

e-man's picture

It's just a small crack and leak in the dam.  I'm fairly certain a team of Chernobyl technicians will be all over this.

Zero Govt's picture

Chernobyl technicians maybe, but Reggie Middleton, not a chance

in fact when it comes to bad news about GOOfball, Reggies rose tinted specs are so rosey you'd swear he was seeing red

The life of hard knocks Reggie, better get used to them being a GOO shill

CvlDobd's picture

Just sold all my gold. These tech earnings misses are not bullish for PMs. I did buy the dip in GOOG. And IBM. And INTC. And MSFT.

becky quick and her beautiful mouth's picture

you didn't have any gold. you sold gld.

CvlDobd's picture

I put all my maples and eagles on Craigslist for $1,000 an ounce. I did hedge some of the proceeds and bought GLD puts.

Squid Vicious's picture

MSFT misses rev's by 410 million, surely bullish for tomorrow's open

Ineverslice's picture

 

CMG miss...Sandisk halt

How dare the truth be leaked!

Paging Mr. Page...it's go time.

Randall Cabot's picture

Absolutely. Didn't you see the Bonus Chart?

slaughterer's picture

things will be sold to cover the GOOG margin calls

alstry's picture

Tyler is right....

There is ZERO HEDGE to a globally systemic failure.....a system we all depend on for survival

We all milk off the failing system as we head into the http://www.udderworld.com

RSBriggs's picture

I expected to see tits there, not zombies.

Spastica Rex's picture

If you pay attention, you will see them several times per day.

Kreditanstalt's picture

Is any of that stuff really important...???

 

slaughterer's picture

Too early to buy any tech dip.  

Ignorance is bliss's picture

What the masses will start thinking:

Must preserve 401K by withdrawing funds while they are still there. Then purchase PMs for retirement.

IridiumRebel's picture

So I'm ahead of the game.....phew.

TooBearish's picture

never ever experienced this kind of disfunction in the markets....

mkhs's picture

So this time it's different?

SheepDog-One's picture

I can't wait to see what form the 'bad news' comes in one of these mornings where we head down -15% for the day.

yogibear's picture

More layoffs coming from tech companies. Right after the election. Obama has to win so no layoffs until then. 

ebworthen's picture

"Girdle?"

"Check!"

"Wig?"

"Check!"

"Platform shoes?

"Check!"

"Pheremone cologne?"

"Check!"

"Sock on peter and Viagra in pocket?"

"Check!"

ActionFive's picture

Lots of buyers in late Sept. They took it all.

Yen Cross's picture

DXY put in a buy signal on the H-4  chart. It's currently @ the 38.2% fibi of this recent move down from 80.2-78.92. There may some slight variances from chart to chart in those numbers.

Jake88's picture

Apparently it really is different this time.

q99x2's picture

Think of how much crap the FED has to buy to keep Obama in office. It will be a blood bath after the elections.