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Market Update: Equity Futures Give Up Day's Gains

Tyler Durden's picture




 

From the moment the polls closed around 7ET, S&P 500 futures have been leaking lower. At 1417, S&P futures are now over 11 points off the post-Ohio-rumor spike highs having given all of that spike back. Treasury yields are down 3bps or so and commodities are bleeding back lower (Gold $1707). The USD is strengthening too as AUD weakens. Interestingly things seems to be going Obama's way broadly in the polls (even though Intrade is falling) which also lends credence to the spike in stocks earlier when it appeared things were going Romney's way...

 

 

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Tue, 11/06/2012 - 21:17 | 2953752 LetThemEatRand
LetThemEatRand's picture

Prediction -- if Romney wins, they won't let it crash for several months yet, or maybe much longer.  If Obama wins, they may let it crash within a few weeks.  Crash it will.  Probably after some "who could have predicted that!" black swan event on which it can be blamed so it won't look too obvious to the majority of herd.

Tue, 11/06/2012 - 21:19 | 2953764 spankthebernank
spankthebernank's picture

What ever national emergency that occurs next is going to be UGLY.  Brace for impact. 

 

 

Tue, 11/06/2012 - 21:20 | 2953765 flacon
flacon's picture

Another Flash Crash is Brewing 11-06-2012

http://www.youtube.com/watch?v=FEHX-rEW7kY

Tue, 11/06/2012 - 22:43 | 2953944 rajc
rajc's picture

gay ass technical analysis. 

Tue, 11/06/2012 - 23:30 | 2954039 Real Estate Geek
Real Estate Geek's picture

What else is there; Fundamental Analysis?  That hasn't been worth a damn since the Fed, Treasury, and FASB monkey-hammered the fundamentals into irrelevance.

Wed, 11/07/2012 - 00:12 | 2954138 smiler03
smiler03's picture

Haruspicy - reading entrails?

Tue, 11/06/2012 - 21:22 | 2953768 The Master
The Master's picture

My money is on a cyber attack on banks. Lot of outtages for online accounts recently. Could just be tests for the eventual cyber false flag.

Tue, 11/06/2012 - 21:25 | 2953771 spankthebernank
spankthebernank's picture

I think the same.  They will lock up everyone's money until we say uncle....sam

Tue, 11/06/2012 - 21:41 | 2953801 flacon
flacon's picture

But then they will release the money and all will be well in the little hamlet of debt... only to find gold has been revalued to $55,000/ounce - and most people won't even know why that would be important, afterall "you can't eat gold". Keynes was right, they are just peasants (a euphamism for 'retards'). 

Tue, 11/06/2012 - 22:21 | 2953891 westboundnup
westboundnup's picture

I suspect so. Very soon I fear.

Tue, 11/06/2012 - 21:22 | 2953770 HaroldWang
HaroldWang's picture

So that spike today was on an Romney win in Ohio rumor?? I didn't realize that. No one said anything about it. Thanks.

Doesn't bode well for the market if Obama wins then, I suppose.

Tue, 11/06/2012 - 21:24 | 2953774 credittrader
credittrader's picture

FYI - here's note on it - plenty of technicals at play but timing was odd...http://www.zerohedge.com/news/2012-11-06/inefficient-and-delayed-market-ramp-explained

Tue, 11/06/2012 - 21:29 | 2953784 HaroldWang
HaroldWang's picture

Thanks for the info!

Tue, 11/06/2012 - 21:25 | 2953773 max2205
max2205's picture

The matrix is here

Tue, 11/06/2012 - 21:35 | 2953795 adr
adr's picture

Fuck Sherrod Brown. I hope he has a heart attack during his victory speech.

The election proves that America is over. The only path forward is the dissolution of the union. Let the unions scramble to pay their pensions with the scraps left over from the useless welfare eaters.

What do you think will last longer? A union of self sufficient conservatives and libertarians, or a group of liberals and socialists mixed with the welfare class.

My plans to leave this shithole have been made for a long time. Even though Europe is falling apart, Germany and Austria will put themselves back together light years before America even picks up the first piece.

Tue, 11/06/2012 - 21:38 | 2953805 Gringo Viejo
Gringo Viejo's picture

Elections area joke and all things show it
I thought so once and now I know it.

William J. Le Petomane 2016.

Tue, 11/06/2012 - 21:40 | 2953814 swissaustrian
swissaustrian's picture

Vote with your dollars, btfd in pms!

Tue, 11/06/2012 - 21:58 | 2953850 Cult_of_Reason
Cult_of_Reason's picture

Exit poll puts Obama 3% ahead in Ohio.

Tue, 11/06/2012 - 22:05 | 2953859 fonzannoon
fonzannoon's picture

as a New yorker i am absolutely disgusted that this state went to assholeface. Just once, just once I wish it would go to douchebagtits.

Tue, 11/06/2012 - 22:09 | 2953867 tip e. canoe
tip e. canoe's picture

or maybe even once in a blue moon, slightyundermyballsack.

Tue, 11/06/2012 - 22:12 | 2953873 fonzannoon
fonzannoon's picture

Romney and Ryan each lost their home states. that's just funny shit.

Tue, 11/06/2012 - 22:21 | 2953893 Ness.
Ness.'s picture

Obama lost his IL-Senate seat to R Mark Kirk... crazy shit.

Tue, 11/06/2012 - 22:14 | 2953879 Ness.
Ness.'s picture

How do NYer's feel about the POTUS doing a fly-over after Sandy then jetting off to campaign?  I gotta think the +100K people still without power can't be too happy knowing their 'vote' is playing hoops with his corrupt homies in Chicago. (See Alexis Giannoulias http://ramparts360.com/how-bad-is-the-broadway-bank-scandal-this-bad/)

 

Good luck brother.

Tue, 11/06/2012 - 22:24 | 2953900 fonzannoon
fonzannoon's picture

I am personally glad he did a fly over. he knew he had it in the bag and did not need to spend time here. i'd rather he do that then bury himself here to play it all up. but to answer your question....i don't understand it. but the sooner the system here cracks the better.these assholes think tax dollars are endless to support their pensions. I want to be here when they learn otherwise.

Tue, 11/06/2012 - 22:18 | 2953885 Cursive
Cursive's picture

Obama definitely wins the popular vote.  The rest is a toss-up.  Doesn't really matter anyway.  Neither candidate addressed real issues and both are puppets used to distract Amerikans.

Tue, 11/06/2012 - 22:31 | 2953914 Yen Cross
Yen Cross's picture

  I don't think anyone can say for sure what these "Looney Tune" markets will do when the vote is done. I can think of half a dozen reasons why it should sell off or rally for both of those "sock puppets".

  The only thing that makes sense to me is the dollar continues to strengthen short term. Cashin is right about a shitstorm, if there is any litigation that throws the election into limbo...

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