Futures Flash Crash As ES Plummets To Limit Down

Tyler Durden's picture




 

No, really, there is a big, huge, massive rotation out of those dangerous, inflationary bonds into safe, predictable equities...

 

Depth of market, or lack thereof, chart from Nanex.

 

And, the VWAP strange attractor those GETCO algos love so very much:

How shocking! Nope, not really. From November 13:

We can summarize it as follows: the lame duck congress will posture, prance and pout. And it is a certainty that in the 15 (see calendar below) remaining days it is expected to be session it will get nothing done. Which means, that once again, it will be up to the market, just like last August, just like October of 2008, to implode and to shock Congress into awakening and coming up with a compromise of sorts. Only this time, now that Bernanke has shown he will "get to work" at a moment's notice, the impetus to do anything as a result of even a market plunge will be far less. After all why lose face, and put your career in jeopardy when there is the Fed which, supposedly, can offset a market crash, courtesy of the shining example set by Chuck Schumer.

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Thu, 12/20/2012 - 22:05 | 3085180 H E D G E H O G
H E D G E H O G's picture

me too....

Thu, 12/20/2012 - 22:08 | 3085188 chump666
chump666's picture

haha

Thu, 12/20/2012 - 22:43 | 3085294 Yen Cross
Yen Cross's picture

 You kick ass LongSoupLine. 

I can't stop laughing! You have saved  a few laptops from imminent destruction.

Thu, 12/20/2012 - 23:02 | 3085362 THX 1178
THX 1178's picture

MMhhmmm. Me and my close friend, Mr. Lyman Rummincoak have a hot date tonite...

Thu, 12/20/2012 - 23:16 | 3085409 natty light
natty light's picture

In supermarkets in France like Auchan you can buy a fabric softener called Soupline;why it's called that I don't know.

Fri, 12/21/2012 - 06:18 | 3086101 StandardDeviant
StandardDeviant's picture

"Souple" is a French word meaning "supple" or "flexible".

Thu, 12/20/2012 - 23:50 | 3085515 SpeakerFTD
SpeakerFTD's picture

Best ZH comment ever?

Fri, 12/21/2012 - 01:49 | 3085874 fuu
fuu's picture

Just your average Thursday night really.

Thu, 12/20/2012 - 22:30 | 3085254 erg
erg's picture

I read an article today about a fiscal Mayan. The edges are becoming blurred to me.

Thu, 12/20/2012 - 21:31 | 3084999 TumblingDice
TumblingDice's picture

The end is nay.

Thu, 12/20/2012 - 22:34 | 3085267 THX 1178
THX 1178's picture

LAAAWWWL

Fri, 12/21/2012 - 03:45 | 3085994 Temporalist
Temporalist's picture

More apt than you knew.

 

France opens the door to medically-assisted suicide

http://www.france24.com/en/20121219-france-medically-assisted-suicide-eu...

Fri, 12/21/2012 - 07:51 | 3086149 nmewn
nmewn's picture

Age limited to people approaching or in retirement.

It's how socialists balance their books ;-)

Thu, 12/20/2012 - 21:31 | 3085003 Cursive
Cursive's picture

So the ES is getting a RIMM-job....

Thu, 12/20/2012 - 21:31 | 3085004 UP Forester
UP Forester's picture

Can't blame it on Knight anymore.

Oh, wait....

Thu, 12/20/2012 - 21:32 | 3085015 helping_friendl...
helping_friendly_book's picture

Republicons playing chicken with Harry Reid. Asshole, douchebag fartlicking traitors.

Thu, 12/20/2012 - 21:48 | 3085099 Row Well Number 41
Row Well Number 41's picture

Which ones?  There are so many on all sides.

#41

Thu, 12/20/2012 - 22:14 | 3085199 notadouche
notadouche's picture

Yes if we would just do what Harry Reid wanted day in and day out we would have utopia. 

Thu, 12/20/2012 - 22:25 | 3085243 Freddie
Freddie's picture

Harry Reid has not submitted a budget in 4 years.   Yeah red team blue team but the Dems and O are looting the Treasury.  F Harry Reid and TV and Hollywood who support him.

Thu, 12/20/2012 - 23:00 | 3085356 notadouche
notadouche's picture

You think he's been busy out at the Mustang Ranch?

Fri, 12/21/2012 - 05:30 | 3086082 Disenchanted
Disenchanted's picture

 

 

Not that I give a shit about the stealth Mormon Harry Reid, but is he the President now Freddie?

 

It's up to the President to submit a budget.

 

The President is required to submit to Congress a proposed budget by the first Monday in February. Although this budget does not have the force of law, it is a comprehensive examination of federal revenues and spending, including any initiatives recommended by the President, and is the start of extensive interaction with Congress.

 

Jus sayin...

Thu, 12/20/2012 - 22:32 | 3085257 knukles
knukles's picture

The Utopia of Harry Reid:

 

No budget
No spending limits
No spending authorization necessary
No debt ceiling
Fed automatically buys all newly issued debt for fiat

Thu, 12/20/2012 - 22:59 | 3085355 DoChenRollingBearing
DoChenRollingBearing's picture

Wow, we're there dude!  I feel so much better.

Must be the Bernays...

Thu, 12/20/2012 - 23:12 | 3085391 helping_friendl...
helping_friendly_book's picture

I meant Congress, as a whole, both Cons and Dems are a bunch of Asshole, douchebag fartlicking traitors. Let's add the Prez. while we are at it. 

Thu, 12/20/2012 - 21:32 | 3085016 Body of Lies
Body of Lies's picture

I got caught -13,000 .... damn

Thu, 12/20/2012 - 21:32 | 3085020 e-man
e-man's picture

Playing out like a Vaudeville show, with Reid starring as Snidely Whiplash...

Thu, 12/20/2012 - 21:33 | 3085022 Seasmoke
Seasmoke's picture

i am not leaving my closet for the next 24 hours......its scary out there !

Thu, 12/20/2012 - 21:40 | 3085050 EARLPEARL
EARLPEARL's picture

my closet is full of guns and ammo...no place to hide

Thu, 12/20/2012 - 23:12 | 3085388 VisualCSharp
VisualCSharp's picture

Well, it was, until you lost it in a tragic, horrible, nearly deadly boating accident...

...right?

Thu, 12/20/2012 - 23:32 | 3085463 Piranhanoia
Piranhanoia's picture

sinkhole on dry land.  Boat only good near water.

Thu, 12/20/2012 - 21:33 | 3085024 rubearish10
rubearish10's picture

Now since we're all so seasoned to this shit, expect green by tomorrow morning since PPT should be back from vacation.

Thu, 12/20/2012 - 21:45 | 3085080 cougar_w
cougar_w's picture

No kidding. I'm gonna be there at the open specifically to bottom trawl this bitch.

Thu, 12/20/2012 - 21:34 | 3085027 helping_friendl...
helping_friendly_book's picture

WHO VOTES FOR THESE CLOWNS?????

WTF?

None of the above!!!!!!

Thu, 12/20/2012 - 21:35 | 3085030 nmewn
nmewn's picture

lol...the Stock Market Psych Ward.

Maybe more Ritalin for their kiddies & Prozac for themselves would help ;-)

Thu, 12/20/2012 - 22:49 | 3085319 disabledvet
disabledvet's picture

You can't make this equity market up. And gold is wilting...amazing. Don't even bother looking through the archives for this one...it doesn't exist. Obviously if "the precious" starts to tumble then equities look even more attractive still....especially those with little to no yield, but room to raise. here are two rocket ships: http://seekingalpha.com/symbol/fslr/ and http://seekingalpha.com/symbol/plpc/ been singing this song two days now for no apparent reason as well: http://www.youtube.com/watch?v=NV5rHm0Qi_s while most people think the song is about God as love to me this song is about seeing through the eyes of a persecuted "other" in a far away...persecuted place...and feeling profoundly moved by it.

Thu, 12/20/2012 - 21:39 | 3085035 jubber
jubber's picture

DAX did the same OVER 250 points DAX  7704 to 7431  !

Thu, 12/20/2012 - 22:24 | 3085234 TruthInSunshine
TruthInSunshine's picture

The difference between now and 2008/2009 is that we fully expect a hot beef injection ramp due to outright manipulation by the PPT...oops, my bad...I mean the President's Working Group on Financial Markets, which means that it probably won't happen (but who knows).

The Bernank's radical "virtuous circle" experiment hangs in the balance. He'll be one disgraced mofo if he can't get the indexes 200% higher by 2014. let alone if he actually leaves his position with the markets close to where they were in nominal terms as when he found them (and 65% lower in real terms, not even including any adjustment for survivorship bias).

Thu, 12/20/2012 - 22:55 | 3085337 you enjoy myself
you enjoy myself's picture

and that's exactly why it'll be ramped.  the moment confidence disappears that Ben has got everyone's back, everything collapses immediately.  apart from the flash crash, we've had just one week (one!!!) since 2009 that inspired any sort of real fear - when the US got downgraded late summer 2011.  and even then, the total SPX loss from the friday of the downgrade to the following friday close was just 21 points. 

Thu, 12/20/2012 - 23:09 | 3085385 Orly
Orly's picture

I bet it'a time for Dr. Bernanke to teach a lesson...

or two.

"D

Fri, 12/21/2012 - 00:38 | 3085720 helping_friendl...
helping_friendly_book's picture

Midnight is when the Kabalist get up, study the Zohar and stir their angry God to do their bidding......it takes complete and total commitment to stir the Shekhinah to advance to higher Sephirotical dimension.

Bernanke is preparing for midnight to raise the Shekhinah.

The Sophia will stop him.

Thu, 12/20/2012 - 21:40 | 3085037 muppet_master
muppet_master's picture

i ALMOST

hedged my SHORT POSITIONS...today....but my "proprietary contrarian indicators " the good ol shoe shine boys was MASSIVELY BULLISH !! = me maintain shorts and do nothing

yesterday (12-19-12) this shoe shine boy (ONE OF MANY) was super bullish..exactly when spx @ 1444...it closed @ 1438...and today (12-20-12) closed @ 1444...yawn !!! i called the TOP @ 1447 baby !!!!!

http://www.marketwatch.com/story/mother-of-all-buying-opportunities-2012-12-19

 

Thu, 12/20/2012 - 21:47 | 3085092 helping_friendl...
helping_friendly_book's picture

I have been sitting on a short position since oct 2011 and getting my face ripped off. no hedge except an oil position which helps a little. Praying these losers live up to their ilk and S&P dances down to 888.

Flying to Bejing tomorrow bitchz!

I'll be exchanging some currency while I'm there. Let's see if holding reminbi makes me feel better.

I hope it tanks. They are going to stick it to Obama in spite of our well being and that works for me.

I hope they piss all you gun  people off enough so you will solve our problem.

I'll bet the internet goes down tomarrow!!!!!! You heard it here first but, I won't be able to prove it since the internet will be down and my printer is out of ink.

FUCK CONGRESS!

Thu, 12/20/2012 - 21:53 | 3085126 muppet_master
muppet_master's picture

some rules for newbies:

1) casino AIN'T going straight down

2) scale in...don't go all in one shot

3) don't spend more than 10 minutes/day monitoring casino..

day after QE3 @ spx 1474 I called the TOP here on ZH...my avg short price WAS NOT 1474...but 1450..i scaled in from 1390 to 1474 = avg price 1450.

covered in phases @ 1380, 1370, 1360, 1354.....avg price = 1360....that's 1450 - 1360 = 90 points

went long @ 1354 GOT OUT @ 1402 = that's 60 points...

recenty spx short position = 1420....today's close = 1444......will wait for sub 1300, before covering...REMEMBER its not going to go straight down....QEorganizer and his follower bQE will be there to pump it....after pumps YOU DUMP!!!

Thu, 12/20/2012 - 22:27 | 3085246 helping_friendl...
helping_friendly_book's picture

I fucked up switch hitting from SPXU and then UPRO, playing the volatility. I got stopped out of UPRO and put it in SPXU expecting continued volatility, didn't use a stop after getting punked on UPRO. 14 months later I'm still getting punished. The Bernanke magic is too strong. That bitch is studying the ZOHAR, as we speak, rousing his vengeful ELOHIM.

Down a few k but, learned a lesson and have been piling into cash every since. 

I am investing in plane tickets to travel and see places while I can afford to do so and the USD is still accepted as Fiat.

Fri, 12/21/2012 - 02:01 | 3085888 tickhound
tickhound's picture

Funny how, back in tha day, you couldn't visit this site without someone stating their positions... DAILY.

Nowadays, notsomuch.  And why?? Ask the noobs.  Cuz no matter long or short, left or right, we've all been fucked one way or another.

And a quick hat tip to those who've been long SPY since 03/09... And that's a hat tip to NOONE.  And OUR untouchable taxed out the ass 401k or equivalent payment to the machine don't fucking count.

I've had but TWO solid positions since tha' day.  And we all know what those are.  Tax free too... If you know what you're doin' and accept payment in CASH.

Thu, 12/20/2012 - 21:38 | 3085042 Yen Cross
Yen Cross's picture

That was  FUGLY!

Thu, 12/20/2012 - 21:42 | 3085061 B-rock
B-rock's picture

Fugly to some is beautiful to others...

Thu, 12/20/2012 - 22:02 | 3085112 Yen Cross
Yen Cross's picture

 That be true/  No need for down arrows. You don't know what trades I have open ;-)

Fri, 12/21/2012 - 01:09 | 3085806 CunnyFunt
CunnyFunt's picture

I hope you grabbed some Dec FAZ 16 Calls for $0.02 this afternoon.

Damn! This is great.

Fri, 12/21/2012 - 01:33 | 3085813 Yen Cross
Yen Cross's picture

 Keep up the good work/ you deserve it.

  Those X-3 trades are risky ( currently 14.67)  And you guys beat me up over trading F/X?

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