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Equities Set To Open With Biggest Gap-Down In 3 Months

Tyler Durden's picture




 

S&P futures are trading down around 18 points in the pre-day-session market. This would be the largest gap-down day in three months, and only the third largest gap-down open in 2012. The market has broken to its lowest since QEtc was announced and retraced more than half of the Draghi 'Believe' moment spike...

The lower paneil is the distance from previous close to current open...

 

as the market looks set to open half way up the Draghi spike...

 

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Tue, 10/23/2012 - 09:18 | 2912358 slaughterer
slaughterer's picture

Simon Potter has failed us all. Bring back Sack.  

Tue, 10/23/2012 - 09:22 | 2912371 Eireann go Brach
Eireann go Brach's picture

Bernanke will hit the hewlett packard turbo button by 11am!

Tue, 10/23/2012 - 09:37 | 2912437 Rainman
Rainman's picture

Bernank's got max 14 months of irrational exuberance remaining...might as well go balls out !

http://www.reuters.com/article/2012/10/23/us-bernanke-chairman-idUSBRE89M0IS20121023

Tue, 10/23/2012 - 09:59 | 2912500 The trend is yo...
The trend is your friend's picture

stop the selling or beelieve me i will print more

Tue, 10/23/2012 - 09:19 | 2912360 JPM Hater001
JPM Hater001's picture

Cramer just said he likes Berkshire because of their insurance and housing business.

I think I'll short them...because of their insurance and housing business.

Tue, 10/23/2012 - 09:28 | 2912402 The Master
The Master's picture

Genius!

Tue, 10/23/2012 - 09:50 | 2912465 franzpick
franzpick's picture

The Orifice of Omaha: bought Ag at $6, sold it at $7.50.

Tue, 10/23/2012 - 09:20 | 2912362 monopoly
monopoly's picture

Reality beckons. Finally.

Tue, 10/23/2012 - 09:20 | 2912363 Quintus
Quintus's picture

Big gap down at the open?

 

Not to worry.  We have people paid to fix that sort of thing.  I'm sure they'll get on it right away and have things nice and green before the close.

Tue, 10/23/2012 - 09:35 | 2912424 franzpick
franzpick's picture

When NoBama says "We'll get to the bottom of this", watch out.

Tue, 10/23/2012 - 09:22 | 2912369 malikai
malikai's picture

Gold is looking pretty jerky too, after last night's moves:

https://www.quantsig.net/live.html#?&charts=m24h,m4h

Tue, 10/23/2012 - 09:23 | 2912381 fonzannoon
fonzannoon's picture

gold is still in lock step with equities. but it seems to be firming up. silver looks good. the dislocation is coming. maybe tomorrow.

Tue, 10/23/2012 - 09:27 | 2912394 malikai
malikai's picture

Soon. It's alredy getting started with crude.

Tue, 10/23/2012 - 09:22 | 2912373 fonzannoon
fonzannoon's picture

why any hedge fund etc with real gains in 2012 would be sticking around in this market is beyond me. so much for chasing performance. 

Tue, 10/23/2012 - 09:29 | 2912403 RSloane
RSloane's picture

Bernanke just handed PIMCO 23 billion USD last month for MBS's. They're waiting for more of their digitalized 0000000$. 40 billion a month indefinately to be spent on market trash is too tempting to walk away from.

Tue, 10/23/2012 - 09:31 | 2912414 fonzannoon
fonzannoon's picture

I hear ya Sloane. I think (who knows) that Pimco is going down the commodities and real assets road with that money. I meant anyone who owns the SPX, why stick around and be greedy? Lock in those gains.

Tue, 10/23/2012 - 09:44 | 2912456 Dr. Engali
Dr. Engali's picture

Not too many hedge funds have gains. The redemptions are going to be epic.

Tue, 10/23/2012 - 09:22 | 2912376 lostcause
lostcause's picture

Gravity doesn't exist in the land of make believe!

Tue, 10/23/2012 - 09:23 | 2912378 Wakanda
Wakanda's picture

Venison!

Tue, 10/23/2012 - 09:24 | 2912384 rajc
rajc's picture

woot...3rd time is a charm. 1390s next?

Tue, 10/23/2012 - 09:23 | 2912385 rajc
rajc's picture

woot...3rd time is a charm. 1390s next?

Tue, 10/23/2012 - 09:33 | 2912387 Lost Wages
Lost Wages's picture

Get ready to believe again!

P.S. I believe everything depends on the Euro. As the Euro weakens, the dollar strengthens, stock prices go lower and vice versa.

Tue, 10/23/2012 - 09:25 | 2912389 overmedicatedun...
overmedicatedundersexed's picture

green by close..soon rumors will come out of woodwork that Apple beat big time..btfd. apple is our market.

traders take heed.

Tue, 10/23/2012 - 09:36 | 2912428 adr
adr's picture

The iPad mini is being announced so that gives Apple at least 10 million units to book profit on now. Forward profit booking, AAPL's best friend.

Nobody else finds it fishy that Apple always seems to announce products right before they report?

Tue, 10/23/2012 - 09:45 | 2912458 Dr. Richard Head
Dr. Richard Head's picture

Wait until the iDildo comes up. 

Tue, 10/23/2012 - 09:57 | 2912497 ebworthen
ebworthen's picture

iVibrator.

It has to vibrate.

Tue, 10/23/2012 - 09:33 | 2912405 TideFighter
TideFighter's picture

A let's keep this puppy afloat one more day so we don't have to talk about it at the debate...crash.

Tue, 10/23/2012 - 09:33 | 2912416 LawsofPhysics
LawsofPhysics's picture

"Market", where is this "market" they speak of?  I see insolvent but politically connected institutions everywhere trying to meet those fix-rate obligations on the retirement promises of millions of voters.  In the meantime, those providing useful and productive labor starve.  -  FAIL

Tue, 10/23/2012 - 09:37 | 2912431 fuu
fuu's picture

I'm surprised they haven't halting trading yet.

Tue, 10/23/2012 - 09:40 | 2912440 Smiley
Smiley's picture

Anybody who believes in this market is a freakin idiot.

Tue, 10/23/2012 - 09:42 | 2912446 fuu
fuu's picture

Google just went green, so we have that going for us.

Tue, 10/23/2012 - 09:47 | 2912459 adr
adr's picture

LG has just confirmed they are producing the next flagship Nexus phone. Since Apple hasn't gone patent troll crazy on LG, I guess that is bullish for Google.

Or enough days have passed that the goalseeking algos have taken over again, ready to send Google to all time highs. Just like after Apple's miss.

Tue, 10/23/2012 - 09:49 | 2912468 fuu
fuu's picture

Is Nexus SNAP ready?

Tue, 10/23/2012 - 09:42 | 2912449 adr
adr's picture

When you see ticker after ticker of YTD gains of 68%, 145%, 235% in way too many stocks, it is pretty easy to see that most of those stocks need to be chopped in half, at least.

2012 has been a 1999 market without a real economy backing it up. When a homebuilder stock can double, even though actual home completions have barely budged, you have entered the Twilight Zone.

I'm waiting for a black and white flying door to open with a laughing floating Bernanke head on the other side.

Tue, 10/23/2012 - 09:42 | 2912451 franzpick
franzpick's picture

New lows in futures, good luck to the knife-catchers now coming into sight on my screens at DJ minus 220.

Tue, 10/23/2012 - 09:43 | 2912452 I Am Not a Copp...
I Am Not a Copper Top's picture

Gap-down Schmap-down, wanna bet this shit closes green?  Well do ya punk?

Tue, 10/23/2012 - 09:49 | 2912466 ebworthen
ebworthen's picture

DOH!

Time to float some EBT bonds.

That's right folks, do your patriotic duty, buy EBT Bonds!

Feed the children!

Prop WalMart!

FED to back them with $80 Billion a month of EBT backed Securities!

Tue, 10/23/2012 - 09:50 | 2912467 Vince Clortho
Vince Clortho's picture

Corrective actions being taken as we speak.

This is a well run, micromanaged circus.

Tue, 10/23/2012 - 09:52 | 2912483 Vince Clortho
Vince Clortho's picture

Anybody here old enough to remember the turbulence of the old markets?

Praise Ben Bernanke, HFT's, and pass the SOMA.

Tue, 10/23/2012 - 09:55 | 2912488 ebworthen
ebworthen's picture

You mean 2001, 1987, or 1932?

SOMA = check!

Ben, paging Ben Bernanke.

Tue, 10/23/2012 - 09:52 | 2912475 tocointhephrase
tocointhephrase's picture

Unintended post ooops, well while I'm here, FUCK YOU BERNANKE!

Tue, 10/23/2012 - 09:53 | 2912487 ebworthen
ebworthen's picture

So I guess Thomas DeMark on CNBC yesterday saying their mathematical models showed the indices had topped might have something to it?

Tue, 10/23/2012 - 09:59 | 2912505 gamera9
gamera9's picture

MAria Bartiromo is in her dressing room practicing the drama of her "off the lows" comment at 4:00. She knows it's coming.

Tue, 10/23/2012 - 10:56 | 2912744 Grand Supercycle
Grand Supercycle's picture

SP500 impending sell off...

Despite recurring short squeezes, SPX etc daily charts continue to break down.

DOW 8 hour chart shows H+S (bearish pattern)

http://trader618.com
http://www.zerohedge.com/news/2012-12-24/market-analysis

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