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Today's Redbull-Sponsored Market Plunges By Most In 4 Months

Tyler Durden's picture





 

Whether its AAPL, GOOG, or the broad equity indices, today saw the bulls 'Baumgartnered'. Despite a valiant attempt to rally into the close, because Bernanke forbid the Dow close the week red, the NASDAQ is 4% off its Wednesday lows (-1.3% on the week) as AAPL suffers its largest 3-week decline since the March 2009 lows (closing with a $609 handle -3.6% today!) and Tech is -5.7% from QEtc. The weakness was absolutely systemic as cross-asset-class correlations were extremely high and CONTEXT (our broad risk-asset proxy) tracked lower and stabilized into the close. Gold, Copper, and Oil all ended the week clustered together down around 1.7% as the USD ended practically unchanged. Credit's mid-week epic short-squeeze lingers in traders' minds as equities underperformed. Treasury yields end the week up 9-11bps. VIX jumped back above 17% suggesting further weakness for stocks. S&P futures are dropping after-hours - closing at lows of the day - disregarding the late-day cash ramp.

 

Late-day surge pulls Dow back from the brink of weekly redness...but not the NASDAQ...

 

S&P futures plunged after-hours to the day's lows...on heavy volume...

 

S&P futures pulled back to the 50DMA and hover at a key trendline (off the May lows) - in the middle of the Bernanke-Draghi-Divide...

 

AAPL's largest 3-week decline since the March 2009 lows...

 

S&P Sectors post-QEtc...

 

Credit markets appear to have suffered a somewhat 'epic' short squeeze midweek and have been nervous to re-enter short - Monday will be interesting...

 

VIX was trampled at the close in an effort to ramp stocks we would suggest but that failed and it ends well above (below on the chart) QEtc. levels...

 

Gold, Copper, and Oil all huddled together this week - while Silver lagged...

 

Even as the USD ended the week unch...

 

Risk assets in general stabilized at the close but the weakness was very systemic...

 

On the year, Gold and Silver remain the winners...

 

 

Charts: Bloomberg and Capital Context

 

Bonus Chart: How over 200 hedge funds felt today...

 


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Fri, 10/19/2012 - 16:12 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

Riddle me this Tyler, everything sold off today, equities, oil, silver, gold...  Who was the fucking winner?

Fri, 10/19/2012 - 16:14 | Link to Comment CunnyFunt
CunnyFunt's picture

Gas 'n' grains

Fri, 10/19/2012 - 16:17 | Link to Comment knukles
knukles's picture

LOL

The winner were the bondditos, again!

Fri, 10/19/2012 - 16:32 | Link to Comment WakeUpPeeeeeople
WakeUpPeeeeeople's picture

So is it too early to say:

Let The Games Begin!

or should I still hold off until after the "election"

Fri, 10/19/2012 - 19:47 | Link to Comment mjcOH1
mjcOH1's picture

"So is it too early to say:
Let The Games Begin!"

How about "Nos morituri te salutamus"?

Fri, 10/19/2012 - 16:49 | Link to Comment kaiserhoff
kaiserhoff's picture

Works until it doesn't.  Want some of them-thar 4% junk bonds, pardner?  We got a Reggie special, just for good-lookin' dudes like you.  BEEEECAUSE WE LIKE YOU!

Fri, 10/19/2012 - 17:00 | Link to Comment knukles
knukles's picture

Bloody amazing.

4% junksters.
It was not long ago I bought some 30 year treasuries yielding 4.5%.
If anything is at risk, the lower quality stuffs gonna get stuffed when spreads gap if there's a down turn .... which in fair disclosure, I am expecting.
Then again, I didn't expect stocks to be up 15% ytd, either.

Comme si comme sa

Owning stocks is a dirty job and somebody (besides me) has gotta do it.

Fri, 10/19/2012 - 17:09 | Link to Comment flacon
flacon's picture

Who won? OCT 20th SPY puts $144 strike price = 1,566% UP!

Too bad I didn't own any.... could have made a fucking killing today!

 

http://imageshack.us/a/img38/5760/octspyputs.jpg

Fri, 10/19/2012 - 18:01 | Link to Comment Randall Cabot
Randall Cabot's picture

Great Bonus Chart today

Sat, 10/20/2012 - 01:35 | Link to Comment Nobody For President
Nobody For President's picture

Don't tell my mom I'm a stocktrader, she thinks I play piano in a whorehouse.

Sat, 10/20/2012 - 09:22 | Link to Comment kaiserhoff
kaiserhoff's picture

Do they need an accordion player?  Oh sorry.  I misread that.

Fri, 10/19/2012 - 16:34 | Link to Comment vast-dom
vast-dom's picture

REPEAT, this is NOT a sell-off or even a minor correction -- a correction would be when the real value of SP, at no more than 700, dips below said real value. today is a blip in the ponzi con.

Fri, 10/19/2012 - 17:05 | Link to Comment kito
kito's picture

the past week sure smells like a sell off in au/ag/oil......................

Fri, 10/19/2012 - 23:03 | Link to Comment dbomb12
Fri, 10/19/2012 - 16:14 | Link to Comment CvlDobd
CvlDobd's picture

Treasuries. Dip Scheiße

Fri, 10/19/2012 - 16:14 | Link to Comment IndicaTive
IndicaTive's picture

Those who didn't play?

Fri, 10/19/2012 - 16:17 | Link to Comment Thecomingcollapse
Thecomingcollapse's picture

+1 Simple but brilliant answer

Fri, 10/19/2012 - 17:08 | Link to Comment flacon
flacon's picture

OCT 20th SPY puts $144 strike price = 1,566% gain.

 

http://imageshack.us/a/img38/5760/octspyputs.jpg

Fri, 10/19/2012 - 16:41 | Link to Comment kaiserhoff
kaiserhoff's picture

Hell yes.  I'm a boob man, but flat never felt soooo good.

Fri, 10/19/2012 - 21:44 | Link to Comment LibertarianX
LibertarianX's picture

(.)(.)

Fri, 10/19/2012 - 16:45 | Link to Comment malikai
malikai's picture

Thanks to Dr. Bernanke and Uncle Government, everyone plays, every day.

Fri, 10/19/2012 - 16:15 | Link to Comment Tsar Pointless
Tsar Pointless's picture

Mitt Romney.

Fri, 10/19/2012 - 16:25 | Link to Comment Wakanda
Wakanda's picture

Nothing will sway those undecided votors better than a solid hit to their portfolios.  Mittens should pack his bags for 1600 Penn Ave. now 'cause Goldy's got his back.

The rest is just show biz.

Fri, 10/19/2012 - 16:32 | Link to Comment Racer
Racer's picture

Exactly and the precise reason the 'market' took a hit cos it is 'their market' and what they want they get

Fri, 10/19/2012 - 17:20 | Link to Comment kito
kito's picture

they are ramping down now in anticipation for the HUGE RAMP UP when mittens wins.................a fool would think this is a sign of a downturn in the market...........................THE ALMIGHTY DOW SHALL SOAR WITH THE EAGLES when goldman gets what goldman wants..........

Fri, 10/19/2012 - 16:17 | Link to Comment Conman
Conman's picture

Bankers who once again skewered the muppets. They got a nice out midweek. sold off left the muppets holding he bag again. Repeat next week.

Fri, 10/19/2012 - 17:52 | Link to Comment Randall Cabot
Randall Cabot's picture

Some ZHer predicted just that earlier this week-maybe it was a Tyler.

Fri, 10/19/2012 - 16:24 | Link to Comment Squid Vicious
Squid Vicious's picture

NOV SPY puts behaved very well today...anyone long anything except PM's deserve this beat-down and will continue next week...

Fri, 10/19/2012 - 16:21 | Link to Comment LongSoupLine
LongSoupLine's picture

Goldman and Blythe.

Fri, 10/19/2012 - 16:30 | Link to Comment Strawboss
Strawboss's picture

The winner today was the precious metal miners.  Many actually closed in the green even though the metals were taking a beating and the EM was being flogged out back.

The miners ALWAYS lead the metals and what the miners are saying is that the correction is over and we are heading above $1800 in gold very soon.

The miners are going to regain their mojo they have lost the last several years by outperforming every other market sector in the coming weeks/months.

Fri, 10/19/2012 - 16:45 | Link to Comment Al Huxley
Al Huxley's picture

I noticed that too.  First time in years that there was such a divergence - gold off $20, large caps and hedge fund favorites taking a savage beating, and miners across the board flat or up.  This is a huge change in the dynamic for that sector.

Fri, 10/19/2012 - 17:11 | Link to Comment VonManstein
VonManstein's picture

diverge began on monday it seems. impressive considering the metals this week.

however, not convinced just yet.

 

 

Fri, 10/19/2012 - 17:54 | Link to Comment Randall Cabot
Randall Cabot's picture

Most likely a head fake.

Sun, 10/21/2012 - 09:49 | Link to Comment TWSceptic
TWSceptic's picture

I hope you're right man, I recently invested in them and I'm almost 9% down...

Fri, 10/19/2012 - 16:34 | Link to Comment Sofa King
Sofa King's picture

Winner: The guy that bought at 609 a few weeks ago.

Loser: The guy that was convinced it was worth 705 when he bought it from the Winner. 

 

 

Fri, 10/19/2012 - 16:40 | Link to Comment duo
duo's picture

This just in.  Big Tex, of the Texas State Fair, upset over austerity, self immolates.

http://blogs.dallasobserver.com/unfairpark/2012/10/big_tex_burned_down_t...

 

 

Fri, 10/19/2012 - 16:53 | Link to Comment Everybodys All ...
Everybodys All American's picture

People who think Bernanke and Obama are the problem and not the solution.

Fri, 10/19/2012 - 16:58 | Link to Comment hapless
hapless's picture

Shorts

Fri, 10/19/2012 - 17:02 | Link to Comment ebworthen
ebworthen's picture

I won because I'm not in the Casino.

Fri, 10/19/2012 - 18:37 | Link to Comment Harbanger
Harbanger's picture

Cash won this round.

Fri, 10/19/2012 - 22:01 | Link to Comment Stuck on Zero
Stuck on Zero's picture

Next week Microsoft will tank.  Early views of Windows 8 are showing major disappointment.  That makes Google, Apple, IBM, and MS going down.  Who's next, Samsung?

 

Sat, 10/20/2012 - 04:18 | Link to Comment Grill Boss
Grill Boss's picture

I can tell you who the LOSER is... ITALIAN COURT FINDS CELL PHONE LIABLE FOR BRAIN CANCER... this was lost in the shuffle, what else? NONE OF THEM HAVE LIABILITY INSURANCE!... it is because insurers know this...

http://bcfreedom.wordpress.com/2012/10/15/death-lies-and-mutations-what-...

So while a few point drop gets everyones panties in a knot, lost for a while, but not long, will be the billions of dollars payable (in italy alone) keep in mind they found the vatican liable for their towers also... have fun with that AAPL lovers!

Fri, 10/19/2012 - 16:24 | Link to Comment knukles
knukles's picture

Odd shit:

A politician claims he's cuter than Candy Crowley.

http://www.buzzfeed.com/johnstanton/arizona-senate-candidate-tells-male-...

 

BTW, would Candy Crowley hit terminal velocity if she jumped?

Fri, 10/19/2012 - 16:28 | Link to Comment Squid Vicious
Squid Vicious's picture

that fat fuck establishment shill? only solace is that she will be departed within 5 years due to her incorrigible hedonism

Fri, 10/19/2012 - 19:53 | Link to Comment mjcOH1
mjcOH1's picture

"Odd shit:

A politician claims he's cuter than Candy Crowley."

Setting the bar low there.   The voters love that self-deprecating stuff.

Fri, 10/19/2012 - 16:48 | Link to Comment kaiserhoff
kaiserhoff's picture

I've seen road kill look better...

The short answer is NO, but the impact crater might trigger a black hole.

Careful with that theoretical physics shit, knucks.  It could kill a good buzz;)

Fri, 10/19/2012 - 16:53 | Link to Comment fuu
fuu's picture

Impact diamonds for everyone!

Fri, 10/19/2012 - 18:23 | Link to Comment tsx500
tsx500's picture

i'd rather pleasure myself with a cheese grater than tap that CC rump

Fri, 10/19/2012 - 18:50 | Link to Comment Harbanger
Harbanger's picture

Here's my favorite totally looks like picture of Candy Crowley.

http://cheezburger.com/1142199040

Fri, 10/19/2012 - 20:16 | Link to Comment kaiserhoff
kaiserhoff's picture

You sir, are a sick puppy, and a threat to polite society.  Welcome to the revolution.

Fri, 10/19/2012 - 20:24 | Link to Comment nmewn
nmewn's picture

Is Candy the one on the left? ;-)

Fri, 10/19/2012 - 20:35 | Link to Comment kaiserhoff
kaiserhoff's picture

Ah shit.  Now you've got me confused.

Fri, 10/19/2012 - 16:26 | Link to Comment cocoablini
cocoablini's picture

Why would Goldman dump on Obama for Rommel...err I mean Romney. They have an absolute doormat in Obama

Fri, 10/19/2012 - 16:38 | Link to Comment DeadFred
DeadFred's picture

Obama is discourteous. One wants one's servants to show a certain deference and the Kenyan version of Obamney tries to keep his base in line by dissing the bansters. No actions of course, but they're now after open vs. covert obedience.

Fri, 10/19/2012 - 17:02 | Link to Comment knukles
knukles's picture

The choice is a discourteous banker's tool or an empathetic gentlemanly banker.

What sayest thou, Fair Maiden?
Takest thou pick, Good Sir Booger.
If it's snot one its 'nother, me Lady
Sir Booger, what beist that on the end of your finger?
Samples of the candidates for dinner, madame.

(Sir Booger bowing to Lady, curtseying)

Curtain

Fin

Fri, 10/19/2012 - 16:47 | Link to Comment RSBriggs
RSBriggs's picture

Because he wants to re-distribute THEIR wealth to his O'phone cronies, and in a second term would revert to being the Chicago thug he is - he would become completely unmanageable. 

Fri, 10/19/2012 - 16:40 | Link to Comment The Fonz
The Fonz's picture

http://www.opensecrets.org/pres12/index.php

 

Go there and look at the top contributors for Obama and Romney, you'll see there has been quite a shift in support from bankers.

Fri, 10/19/2012 - 16:58 | Link to Comment Wakanda
Wakanda's picture

The banksters need an exit strategy that includes a change in the status quo and chaos.  They need a shit storm to sneak out of town - with their PMs.  A Romney win will deliver the goods and leave a gutted, dumbed down middle class.  It will be years before the sheeple even get a clue how they've been played.  Unless...

Sat, 10/20/2012 - 13:28 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

Unless... a) the 100+ nations BRICS alliance drops the hammer on the U.S. Dollar and quits using it for international trade and settlements b) the nations who had trillions in gold "put on deposit" (read stolen) by the FED and BIS demand it back with interest and repossess the FED and BIS with multi-trillion dollar liens.

 

The world is sick of green toilet paper and wants it's stolen gold back!

 

Fri, 10/19/2012 - 16:29 | Link to Comment JPM Hater001
JPM Hater001's picture

Friday chartporn...just the way to start the weekend.

Fri, 10/19/2012 - 16:32 | Link to Comment kengland
kengland's picture

So what. How many times has this happened over the last 5 years? You've been fulking hand wringing each time something like this happens. In the mean time, they still have complete control of the capital markets with freshly printed QE infinity.

 

What's your point? The market is finally going to realize real/fair value? To that I would ask, when will you ever learn

Fri, 10/19/2012 - 16:38 | Link to Comment gamera9
gamera9's picture

What a buzz kill. There goes my brief moment of Schadenfreude

Fri, 10/19/2012 - 17:04 | Link to Comment knukles
knukles's picture

+1 for das fuBlfrumptkinstaben reference

Who's wringing their hands?

Fri, 10/19/2012 - 16:37 | Link to Comment fuu
fuu's picture

That image gives me vertigo.

Fri, 10/19/2012 - 16:49 | Link to Comment Likstane
Likstane's picture

It makes me nauseous, nautions, nacious, sick to my stomach.

p.s my strike through doesn't seem to work.

Fri, 10/19/2012 - 16:47 | Link to Comment alien-IQ
alien-IQ's picture

Some images are worth keeping readily available at all times...for moments like this.

http://weaponsman.com/wp-content/uploads/2012/07/wile_e_coyote_gravity.jpg

Fri, 10/19/2012 - 16:50 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

FUCK YOU Bernanke...

Just had to say it.....It feels good.....

Fri, 10/19/2012 - 16:52 | Link to Comment Likstane
Likstane's picture

PHUCK YOO Bernangki...

   You're right...Thanks

Fri, 10/19/2012 - 16:51 | Link to Comment falak pema
falak pema's picture

roller coasters....as long as money velocity stays down!

Fri, 10/19/2012 - 17:06 | Link to Comment knukles
knukles's picture

Just wait!
Once "V" skyrockets, which it shall at some point in the future, it's gonna make the inflation of the 70's seem like kid's play.

Fri, 10/19/2012 - 16:53 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Now wait a minute...did you say "selling"?

Fri, 10/19/2012 - 16:54 | Link to Comment Spastica Rex
Spastica Rex's picture

Seattle, March 2000

I was there!

Fri, 10/19/2012 - 17:00 | Link to Comment Dr. Engali
Dr. Engali's picture

I wasn't.

Fri, 10/19/2012 - 17:07 | Link to Comment knukles
knukles's picture

I have no clue whatsoever about March 2000.

Fri, 10/19/2012 - 17:12 | Link to Comment Spastica Rex
Spastica Rex's picture

Tech Bubble 1.0

homegrocer.com

mylackey.com

pets.com

etc.

etc.

etc.

Climbing walls were a common second hand item in the office surplus circuit.

 

Fri, 10/19/2012 - 17:20 | Link to Comment knukles
knukles's picture

Oh yeah, I remember that now.
Pets don't calm.
We had a big ass high strung nervous as a whore in church mean German Shepard and I'd tried calming him by rubbing his balls.
Didn't work too well.

Where ya get bit for dumb ass ideas.
That kind of environment, right?

Sat, 10/20/2012 - 02:09 | Link to Comment Oh regional Indian
Oh regional Indian's picture

I was in it. Bay Area. 1999 through 2006. Saw the up, see-sawed the down.

It was pure, outright, unmitigated theft all around.

THe company I worked at was sold for 3.5 BILLION, all stock of course. We had 1.5 or 2 Mill in DOUBLE BOOKING revenue. Everyone was throwing money.

Company was sold (forced) onto a competitor. All kinds of back-scratching was at play. "Our" non-product was dead in it's new home within the year.

Sold on March 10th 2000.

Us locked out minions made nothing. The dump was far done by the time we were un-locked.

Figure someone knew something?

It's only much later I realized the place was crawling with :

a) Pharisees and their vulture capital clubs

b) Coke snorting Salespeople/CEO's etc.

c) Secret hand-shaking masons/society types all around

d) Black/white mail, skull duggery of the worst sort.

Typical bubble behaviour I suppose.

ori

Fri, 10/19/2012 - 17:36 | Link to Comment Caviar Emptor
Caviar Emptor's picture

DrKoop.com, theglobe.com

Fri, 10/19/2012 - 17:13 | Link to Comment Spastica Rex
Spastica Rex's picture

Dup.

Damn - I swear I didn't hit the button twice.

Fri, 10/19/2012 - 16:55 | Link to Comment franzpick
franzpick's picture

Watch NoBama try to hide in plain sight while this market collapse heads on downward another 2-3% to temporary support at SPX 1400 and NDX 2600, before proceeding lower.  My screens say prez No's previously-very-successful perception management team has just reached their peter-principle level of incapacity to re-write history as it occurs, giving new awareness to Jim Lehrer's words ending the 1st debate: "Mr. President, your time is up...".

Fri, 10/19/2012 - 17:08 | Link to Comment alien-IQ
alien-IQ's picture

I'm no fan of Obama or Romney but, if you are gonna blame him for the market dropping are you willing to credit him for it rising?

Fri, 10/19/2012 - 17:09 | Link to Comment knukles
knukles's picture

Fuck no....

We're way past just OK now....

Fri, 10/19/2012 - 17:08 | Link to Comment knukles
knukles's picture

Bush did it!

Booyah, Motherfuckers!

(pssst  Hey Penny, is that home in Honolulu ready, yet?)

Fri, 10/19/2012 - 16:58 | Link to Comment falak pema
falak pema's picture

I think the reds and the  blues are playing with the roller coaster; don't ask me who wants up but I guess its red.

Fri, 10/19/2012 - 17:05 | Link to Comment themacronavigator
themacronavigator's picture

Mini make or break

www.themacronavigator.com

 

Fri, 10/19/2012 - 17:11 | Link to Comment earleflorida
earleflorida's picture

'and the one speaks out of the 'left larynx'... whilst the other speaks from the 'right larynx'- but both come from the same windpipe... a sneeze-freeze,... seemingly frozen in ambiguity- were it naught for the 'respect-my-authoritah' voice-box of the right`eous moneyed meisters?'

LIFO... last in is certainly first out, in today's business atmosphere of bambi's sour'd uncertainty? 

jmo

go romney

Fri, 10/19/2012 - 17:11 | Link to Comment klockwerks
klockwerks's picture

Glad I waited to buy more silver so another monster box ready for pickup Mon.

Fri, 10/19/2012 - 18:01 | Link to Comment spekulatn
spekulatn's picture

The HOUSE always wins.

Fri, 10/19/2012 - 20:13 | Link to Comment o2sd
o2sd's picture

Question for Tyler or anyone who knows. Dow September futures expire tomorrow (Saturday 20th) right? Is the settlement price/index price struck on the morning of the 19th, or at the close?

Sorry for the noob question, I just thought it strange that the future contract expires on a non-market day.

 

Sat, 10/20/2012 - 00:13 | Link to Comment mkhs
mkhs's picture

Did  you ever think to google it? Type "futures expires saturday."

And the results:

http://www.google.com/search?q=futures+expires+saturday&ie=utf-8&oe=utf-...

Sat, 10/20/2012 - 08:21 | Link to Comment o2sd
o2sd's picture

Yep, hence the question. I went through all of those articles and none of them say when the settlement price is struck. Thanks for nothing though.

 

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