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Which Of These Days Is The Sell-Off?

Tyler Durden's picture


One of these things is not like the other...


S&P futures volume:


and the answer is...


ES back in the Bernake-Draghi-Divide (and below its 50DMA)...


Charts: Bloomberg


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Fri, 10/19/2012 - 14:33 | 2904991 youngman
youngman's picture

They all looked pretty good to me .....

Fri, 10/19/2012 - 14:41 | 2905030 JPM Hater001
JPM Hater001's picture

Iv'e been playing SOUSA marches all day long.

March boys march!

Fri, 10/19/2012 - 15:34 | 2905242 NotApplicable
NotApplicable's picture

Cue the false-flag in 3... 2... 1...

Fri, 10/19/2012 - 14:41 | 2905031 vast-dom
vast-dom's picture

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 - 14:55 | 2905089 Everybodys All ...
Everybodys All American's picture

This looks and feels a little different. Primarily because the earnings and revenues are coming in really weak. There is only so much cutting of employees and other costs a company can do before it hits the balance sheet square in the face.

The take away is that the fake recovery is now meeting reality.

Fri, 10/19/2012 - 14:59 | 2905106 flacon
flacon's picture

Bounce on Monday?

Here comes your 3 o'clock ramp job... 

Fri, 10/19/2012 - 15:03 | 2905127 Everybodys All ...
Everybodys All American's picture

Anything is possible. I would predict the start of a bearish market trend at the very least. The volume is quite heavy to the downside.

Fri, 10/19/2012 - 15:36 | 2905248 eduard khil
eduard khil's picture

Drink 1 every time you hear "closed off the lows of the day"

Fri, 10/19/2012 - 15:52 | 2905286 ZeroAvatar
ZeroAvatar's picture

"OFF THE LOWS!"  *BRAAAWK!*  (Whistle)

Fri, 10/19/2012 - 18:09 | 2905622 HD
HD's picture

....I just met a girl named Maria

Fri, 10/19/2012 - 20:56 | 2905866 paddy0761
paddy0761's picture

On Black Monday? Not likely.

Fri, 10/19/2012 - 14:34 | 2904993 pauhana
pauhana's picture


Fri, 10/19/2012 - 14:34 | 2904997 Godisanhftbot
Godisanhftbot's picture

 I got it wrong

Fri, 10/19/2012 - 14:35 | 2904998 The Shootist
The Shootist's picture

Is anyone else surprised by today's move in crude,or lack thereof?

Fri, 10/19/2012 - 14:35 | 2905002 -1Delta
-1Delta's picture

corn wheat and natty up on a day like today....

Fri, 10/19/2012 - 14:52 | 2905076 Orly
Orly's picture

Someone already pricing in QE4?

Fri, 10/19/2012 - 14:53 | 2905081 The Shootist
The Shootist's picture

Hmm, where did gold and WTI stand on the date of the Bernank's III announcement.

Fri, 10/19/2012 - 16:24 | 2905377 The Shootist
The Shootist's picture

Nevermind, my nedtania page had it unchanged for some reason. I can see it was down like I would have thought.

Fri, 10/19/2012 - 15:40 | 2905262 HelluvaEngineer
HelluvaEngineer's picture

...not after Goldman told me to sell it.

Fri, 10/19/2012 - 14:35 | 2904999 alien-IQ
alien-IQ's picture

let's see if 1425 holds on the /ES...for the day.

Fri, 10/19/2012 - 14:36 | 2905004 Lost Wages
Lost Wages's picture

This sell-off today makes everyone look like a bunch of whimps. They should be ashamed.

Fri, 10/19/2012 - 14:39 | 2905020 Rainman
Rainman's picture ain't over yet

Fri, 10/19/2012 - 14:45 | 2905048 Nothing To See Here
Nothing To See Here's picture

They're working on the rumeur-du-jour right now. They need a new one since China-bails-Europe didnt work last time.

I'm guessing something in the line of "Greece forecasts huge surpluses in 2034"... Oh wait, they did that already?

Fri, 10/19/2012 - 17:40 | 2905478 onebir
onebir's picture

"World leaders to group hug". That should do it.

PS - isn't it time for episode brought to us by the letter V (on VOV & Vega, vegans & whatever TF the Artemis guy was talking about)?

Fri, 10/19/2012 - 14:40 | 2905009 razorthin
razorthin's picture

Looks like someone needs to tweak the circuit breaker algorithm.

Don't worry, +200 down days are still prohibited.  Watch this...

Fri, 10/19/2012 - 14:38 | 2905010 TonyCoitus
TonyCoitus's picture

Shit & Piss volumes way up today!


Yesterday's treat is today's trick.

Fri, 10/19/2012 - 14:37 | 2905011 Calidreaming
Calidreaming's picture

Red alert!  Red alert!  Please call the friday last hour Plunge protection Team  for last Hour rally!

Fri, 10/19/2012 - 15:05 | 2905136 GolfHatesMe
GolfHatesMe's picture

Paging Mr Hilsenrath

Fri, 10/19/2012 - 15:52 | 2905290 Nothing To See Here
Nothing To See Here's picture

At work right now, DOW up 50 points since day's lows, and still 8 mins to go!

Fri, 10/19/2012 - 14:38 | 2905014 slaughterer
slaughterer's picture

Today allows the biggest, smelliest turds to become identifiable.  They are being flushed the fastest.  


Fri, 10/19/2012 - 14:38 | 2905015 Ned Zeppelin
Ned Zeppelin's picture

Mere quantum fluctuations in a fully controlled market.

Fri, 10/19/2012 - 14:39 | 2905025 slaughterer
slaughterer's picture

Its as if the 25th anniversary of Black Monday spooked the Wall Street traders.  They re-created the Black Monday 1987 crash today through their stupid superstitions.  

Fri, 10/19/2012 - 16:11 | 2905339 ceilidh_trail
ceilidh_trail's picture

This is NOTHING like 1987. Much more drama then, made a fair bit going against it. Now, this quiet drop scares me more...

Fri, 10/19/2012 - 16:13 | 2905346 ceilidh_trail
ceilidh_trail's picture

Actually, scared is the wrong word. I'm hoping my way lower buy stops get hit in oil, gold, equities.

Fri, 10/19/2012 - 14:41 | 2905034 lolmao500
lolmao500's picture

Hopefully the monday before the election, the markets cratter.

In other news, the fourth reich is gaining ground :

European leaders agree to have a single banking regulator
Fri, 10/19/2012 - 14:41 | 2905036 Rathmullan
Rathmullan's picture

This junkie market does not like the prospects of a Romney presidency with its implications that the market's drug dealer, quad b, is likely to be replaced at the end of his term with someone who may understand both the limits and danger of a pedal to the metal monetary policy.

Fri, 10/19/2012 - 14:47 | 2905059 Ned Zeppelin
Ned Zeppelin's picture

Although I've heard rumors of this, is it fact that Romney will throw out Ben - and if so, who is his replacement? And who would be Romney's Treasury Secretary? I think while there might be personnel changes there is no chance in hell of policy changes vis a vis QE and Wall Street under Romney, and Obama has been Wall Street's best friend: endless,QE, no prosecutions, watered down Dodd-Frank, etc. etc.  

Fri, 10/19/2012 - 14:56 | 2905097 Spitzer
Spitzer's picture

Romney is just saying what has to be said to get elected.

Don't kid yourself. He's probably heard of Austrian economics. He probably owns some gold in a vault in Switzerland.

Ben is gone.

I cant think of any half assed Austrians that he would appoint.


Fri, 10/19/2012 - 15:48 | 2905278 optimator
optimator's picture

Who?  Right now a tie between Steve Liesman (it would be a promotion in his FED pay)(and he wouldn't have to get up so early in the morning).  Or, Natan Yahoo in case he loses his re election bid.

Fri, 10/19/2012 - 17:44 | 2905554 Panafrican Funk...
Panafrican Funktron Robot's picture

Glen Hubbard is Romney's economic advisor.  He is all-in on the Bernank.  If the Bernank decides he doesn't feel like doing this anymore, he'll probably be replaced by Evans.  

Fri, 10/19/2012 - 22:09 | 2905948 andrewp111
andrewp111's picture

I think the tech stock earnings misses had more to do with it.

Fri, 10/19/2012 - 14:45 | 2905049 The worst trader
The worst trader's picture

Romney is up in the polls therefore there is no reason to save the markets,Punishment for all who disobey the master.

Fri, 10/19/2012 - 14:46 | 2905054 slaughterer
slaughterer's picture

So THIS is QE3?  When do we move on to QE4?

Fri, 10/19/2012 - 16:02 | 2905319 ZeroAvatar
ZeroAvatar's picture

Let's just go ahead and name the next (20?) QE's:



QE5-'til long after we're alive!

QE6-In control like a dominatrix

QE7-On long after I've went to heaven

QE8-Bankers, Bankers!  Who do we appreciate?

QE9-All my gold's looking fine

QE10???????????????????...............cmon, Ben!

Fri, 10/19/2012 - 14:47 | 2905055 Lost Wages
Lost Wages's picture

It's time for the bearded wizards to unleash the levitation spell.

Fri, 10/19/2012 - 20:52 | 2905862 bigkahuna
bigkahuna's picture

He already did.

Fri, 10/19/2012 - 14:48 | 2905066 Slope of Hope
Slope of Hope's picture

Dollar Index up against 20 DMA overhead - nothing to see here.  As I suspected, today is just the sick fucks on Wall Street celebrating the 25th anniversary of Flash Crash v1.0 in the only way they know how.

Fri, 10/19/2012 - 14:50 | 2905070 gamera9
gamera9's picture

Just wait till CNBC starts broadcasting on Sunday night about Panic in the markets, That's Benanke's tell that  it's time go long again.

Fri, 10/19/2012 - 15:00 | 2905118 Everybodys All ...
Everybodys All American's picture

Dow will have to go down over 300 but you can bet they are on que for Sunday evening so they can herd the sheep.

Fri, 10/19/2012 - 15:16 | 2905163 Savyindallas
Savyindallas's picture

Just like the good ole days- Bernake cuts rates early monday morning-wait-he can't do that anymore. But he can  -he can bail out Spain, and Greece again. He can even bail out the liquor industry  - a free keg of  beer for every adult male  -that will surely bump Obama up another 5 points in the polls. That could be the icing on the cake for Obama.

Fri, 10/19/2012 - 14:50 | 2905073 NEOSERF
NEOSERF's picture

This is nothing but a slight earnings and fear promulgated day.  Spain will generously accept a bailout over the weekend getting all these gains back and more.  Fiscal cliff will be pushed out another year right after the election which will be worth another 300pts and the regular retail sales up 5% garbage will make the Santa rally take this to a new all time high by EOY...count on it...this is the world under QE

Fri, 10/19/2012 - 15:05 | 2905133 inevitablecollapse
inevitablecollapse's picture

based on what we've seen in the past, this makes absolute sense

Fri, 10/19/2012 - 15:10 | 2905155 misnomer00
misnomer00's picture

not this time. please god nooooooooo..

Fri, 10/19/2012 - 16:00 | 2905313 optimator
optimator's picture

And, that little war will be over now that Germany has defeated Poland.

Fri, 10/19/2012 - 14:53 | 2905082 Pure Evil
Pure Evil's picture

Montgomery Burns: "Excellent, Excellent."

Homer Simpson: "Do'h"

Bart Simpson: "Eat my shorts!"

Fri, 10/19/2012 - 15:03 | 2905128 ParkAveFlasher
ParkAveFlasher's picture

Fuck you, Monty!

Fri, 10/19/2012 - 15:11 | 2905160 Tsar Pointless
Tsar Pointless's picture

Pull up a one-year chart of the S&P 500, and you tell me if that doesn't look like a triple-top over the past month or so.

Where is the lower trendline? Oh, at about 1150-ish - just as I brought up on an earlier thread.

So, that's where I think we go to in a hurry, by Election Day.

Fri, 10/19/2012 - 15:20 | 2905184 alien-IQ
alien-IQ's picture

AAPL 620 puts up 2000%...whoever had those...hats off to ya. wow.

Fri, 10/19/2012 - 15:49 | 2905210 Haager
Haager's picture



Oh, I bet my shorts that AAPL will serve reasonable data for the herd to make an U-turn.

Thats for the calls at 660+.


Fri, 10/19/2012 - 16:04 | 2905306 alien-IQ
alien-IQ's picture

actually, the 2000% gain only represents the difference from yesterdays closing price to the current price.

if you view it from the low to high today only on the 620 puts, it's more like a 5750% gain from the low of .16 to the high of 9.22. the .16 was likely at the very open since that was the high of the day for AAPL. It, and everything else, has been down hill all day long.

what a monster move. today was the kind of day option traders dream of (or have nightmares about). fun fun fun...


final closing for the 620 puts +2908.82%...D...A...M...N.

Fri, 10/19/2012 - 16:10 | 2905338 ZeroAvatar
ZeroAvatar's picture

Better cash 'em in now, cause lord knows they'll expire worthless.

Fri, 10/19/2012 - 15:55 | 2905299 The worst trader
The worst trader's picture

Who forgot to send the BTFD memo?

Fri, 10/19/2012 - 16:34 | 2905403 helping_friendl...
helping_friendly_book's picture

How long have I been saying that?

I been short the SnP since Oct 3rd 2011 and been getting kicked in the teeth by the Ctrl-P gang.

I have given up guessing.

Fri, 10/19/2012 - 16:54 | 2905450 ShrNfr
ShrNfr's picture

Noted in passing is the fact that most funds have their FY closing in less than 2 weeks.

Fri, 10/19/2012 - 18:41 | 2905673 howswave5workin...
howswave5workingforyou's picture

which day is expiry


numb nuts

Fri, 10/19/2012 - 20:57 | 2905868 paddy0761
paddy0761's picture

What is really interesting, is that the HUI closed UP!

Sun, 10/21/2012 - 21:23 | 2908687 Tim Brasco
Tim Brasco's picture

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