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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helping_friendly_book's picture

Where is Al-Qaeda when you need them?

Freddie's picture

Al Qaeda is in Syria being backed by Obam.  He is arming them (and the latin drug cartels) but he wants to disarm you.

helping_friendly_book's picture

I assumed that was Blackwater! I thought those guys just crossed the border when the Iraqi Cabinet voided American immunity?

mkkby's picture

Where is Al-CIAda?  Langley, VA.

Bob's picture

Anything else is conveniently defined as either anti-business or class warfare. 

Sometimes I wonder who my friends are. 

Smuckers's picture

Ben is running out to Walmart to clear the shelves of Slap Chops and Schtickys.

buzzsaw99's picture

don't forget your obama shamwows

Yen Cross's picture

 Where is that crazy cross-eyed, ShamWow guy? Haven't seen him in a while. Guess his MedicAid ran out.

The Joker's picture

He pulled a Marv Albert on some chick.  I'm not the type to spread rumors but if I remember correctly, he beat the shit out of some chick because she "wanted" him to.  Then she turned him in.  Women, can't beat 'em....

Yen Cross's picture

 Z/H has turned into Comedy Central/

Papasmurf's picture

He's out at Capitol Hill Liquors clearing the shelves of Scotch.

devo's picture

The markets were angry, my friends, like an old man trying to return soup at a deli...

muppet_master's picture

OMG !!!

quick odummernomics, do something (doo-dooo poo poo)...the spx casino futures are down -1.5%...never mind that they've been pumped up more than 100% since 3-2009...

you don't want the fat kitties (1%ers) to "SUFFER" ...do you?

muppet_master's picture

the "fed"

has no money....DEBT LIMIT has been breached.....

unless they confiscate IRAS and use that to prop up the casino...just like corzine ROFMAO !!!!

its 12-21-12 biatch !!!! LOL !!!!!!!

yes the "fed" = rapist SOBs rape the 99% with DEBT and inflation....courtesy of odummernomics-the rapist-in-thief

Quinvarius's picture

I am starting think calling the Fed "rapists" is redundant.

Orly's picture

Same thing happened in all the risk currency pairs: USDJPY, AUDUSD, EURUSD, etc.

Looks like a massive dose of risk-off.


chump666's picture


You watching the AUD?  Holding on the 50, it's bounce patten after every risk off, then trades on the 100.  Lame huh?  I don't think this will be the big risk off opportunity.  But a nice warm up for 2013 imo

All about the machines in 2013...

chump666's picture

then again...it could be.

Yen Cross's picture

 aud/usd has been sold all week, via Sovereign and real money repratriation. It's helped to cap trades like aud/jpy, and given away to eur/aud, and gbp/aud.

  SNB and BUBA bought massive aud during the E/U debacle this year. Other large macro funds also. (70% of aud bonds are foreign held) the aussie 2year notes are worth watching.

chump666's picture

the ASX200 has gotta to blow, look at it??? Crazy with copper/gold sell off.  Nervous becuase of the HFT stops, what i want is the longs cut hard, if you are right about repatriation, hopefully the panic will set off the HFTs to short.

Then it gets very interesting as longs sell off and HFTs lower ranges trying to entice positions, market might be cheaper on the extreme.    hopefully

Yen Cross's picture

 ASX, DAX, Hang seng... The aud is correlated with spx, gold, oil. I think gold is coming up on a really good buy point here in the 1610 area. Silver is way oversold/ I'm getting ready to load up.

  China had net inflows of capital for the first time in months, yet they are reverse REPOing and the Shanghai is in the shitter.

 Chinas banks are in bad shape, Q-4 earnings will suck, debt ceiling/fiscal cliff, Europe sovereign debt payments, lower rates of saving, tax increases-capital gains... Those CNBSers are living in fantasy land.

chump666's picture

I wonder if the algo's have the 1987 sell protocol written into the data-banks, that being HK going down 4%, Dax 4 to 5%, Europe opening into hell.  Gld/silver should be bid if we get our first in a long year of HFT volatility/selling, since they were the only things buying ranges and sucking in longs.


I want to buy a really nice bottle of tequila at some point...

Yen Cross's picture

 I would love to drink it with ya/ let's keep it anejo or reposado. That way we can dip our " Cohibas" in it!

  No algos in 87, it's going to be even bigger/ ;-)

chump666's picture

Yes, but I want the algos to freak out like 1987, panic Asia, then the world.  I  will be drinking Añejo listening too this http://youtu.be/evCPDj2D1bU

Yen Cross's picture

 We'll have " Long Soup Line" shit on the algos.  When she blows, it will be systemic/ I'm amazed at how well certain bonds and currencies are holding up. 

  The United States is really losing it's currency and bond ( hegemony), and we have a couple of little girls fighting over $200b, in a $1Trillion annual printing fest!

  P.S. Terminator soundtrack was a keeper :-)

scatterbrains's picture

I'm thinking all those "hardline" congress critters know they got elected to serve small business/mom and pop shops who have all their life savings tied up in their businesses and don't own stocks or give a fuck about the market.  Now you have the bankster ball licking leaders of both parties huddled together trying to figure out how to unfuck the situation and save the stock market which they haven't finished selling into.... or at least I'd like to think that... but then I always go for the underdog.


helping_friendly_book's picture

I hope those stupid cunts cut spending and balance the budget. It will be 1932 all over again. I just watched the punk ass congresspunk from Kansas talking about cutting spending.

Those idiots are going to send us into a deflation death spiral no matter how much they print.

This is going to be great!!!!

PM are going down as margin calls are triggered. Got to cover those margin calls! Margin is a bitch!

I'll be buying AU as investors sell gold into margin calls.

Saw it in 2008 during the TARP fiasco. I'll be a buyer at $1200/oz. Then it will go to $2500/oz +.

imbrbing's picture

Balance the budget? Do you realize how many will have to die if they do that? Literally, I ain't kidding. Cut spending? You mean

reduce the deficit, but not the debt, they will still have to borrow, but maybe only have to borrow 99.5% of what they did last year? This aint ending well

on either side of the fence. No matter what they do. It's just circus show right now for the masses.

helping_friendly_book's picture

Just the words "budget cut" spoken will send the world into a death spiral.


  Briefing   on   the   Fiscal   Cliff    Professor   Steve   Keen   www.debtdeflation.com/blogs   Page   14   www.debunkingeconomics.com   reasons   to   avoid   the   Fiscal   Cliff,   and   to   alter   the   public   discourse   on   debt   so   that   it   focuses   on   the   dominant   problem,   which   is   the   private   debt   bubble   that   caused   this   crisis   in   the   first   place.   Figure   14:   GDP   plus   the   changes   in   debt   1925 ? 1945   Takeaway ? Points ? ?  


dvsteenk's picture

2nd wave coming?


balz's picture

Same thing happened some weeks ago with silver... and then the raid came some day later.

ZeroFreedom's picture

Did this crash tie in with the U.S. House vote and Boehner saying he did not have enough votes. Maybe he was crying and hit a key by accident. Any case off the cliff we go and this is example of what the cliff looks like. Parachutes anybody or are those optional since Big Ben will come in and save the day.  

Xibalba's picture

"Anything to help the Nations credit card bill" ...as in get the interest rate down

j-dub's picture

Not to gloat, but with my cap gains from my margined UVXY buy from three days ago, I plan to pay up for the privledge of being the meat in a Eva Notty-Carmella Bing sandwich this weekend!

Seriously, if I don't contract at least 4 separate and distinct venereal diseases, I'll consider this weekend a total loss

inevitablecollapse's picture

they serve eva nott-carmella bing sammiches in missouri?

IridiumRebel's picture

With Carmella-ized onions! You provide the "mayo".

j-dub's picture

You' have to fly them out, but yeah, I'd bet you could make that happen

nukleon's picture

GC shows very late reaction...

scatterbrains's picture

I don't see gold doing jack shit till mid to late 2013 from about a 1300ish base.. but it will hold up better then any other asset just the same.

surf0766's picture

What no Rimmmmmmmmmmmmmmmmmmmmmmmmmmmmmberrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr  ?

Rob Jones's picture

Since it was clear that Plan B would never get past the Senate, what does it matter whether it passes or not? I don't understand why Boehner doesn't hold the vote anyway. Any Repubs (or Dems) that don't care to be blamed for the tax increases can vote for it. And the ones who vote against the bill can take credit for the tax increases. Everyone gets what they want.

Bob's picture

Where's the drama in that?  This carefully scripted gay snuff film must play out to its climax like a broadway musical. 

Investors must see return. 


Kali's picture

Somebody is fucking up the plan to keep everyone spending and happy til after Xmas/NY.  Holiday shopping must totally suck if that plan is being subverted. 

I have been joking about doomsday all week, maybe it's happening?  Party like a teenager this weekend for sure.

cougar_w's picture

Yeah the retail news that will come out in January is probably going to suck a donkey.

Next time you hear a helicopter go over, look up for the falling money.

Tombstone's picture

First time CNBC got it wrong all year....