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Market Plunges As European Crisis Is Back

Tyler Durden's picture


JPY saw a massive correction today - gaining 3% against the USD - its biggest single-day gain since May 2010 - dragging all the carry traders with it. S&P 500 futures volume exploded to its highest since the rally began in November as it broke its uptrend and slumped 40 points from its intraday highs. VIX's term structure collapsed to its flattest in 18 months as spot surged above 19% (no - everyone wasn't hedged). The Dow, S&P, and Nasdaq are all red for the month and even the Trannies are almost unch. Treasuries soared with 10Y ending -10bps (after being +4bps at its worst of the day). Gold and Silver surged (with the latter testing near $1600 again) as WTI dropped 1%. Homebuilders (not helped by lumber's price collapse) dropped 3.5% but every sector was ugly today and closed at its lows.

S&P futures lost their gains for Feb, broke their uptrend dramatically on heavy volume and large trade size, and are heading towards QE3 levels...

S&P 500 futures crashed 40 points from intraday highs


The month of Feb just went red...


VIX term structure collapsed and VIX rose to its highs of the year...

Stocks finally caught down to Bonds' 'implied' weakness into the closing minutes as Gold held up near its highs of the day...

FX markets were a mess... EUR dumped over 1%...


as JPY exploded around 3% higher on the day - implying a serious session for Japan overnight...


Gold and Silver gained almost 1% on the day - even as the USD rose - but WTI dropped back towards $92...


Cross asset class correlation surged as the slide accelerated late on and stocks caught down to Capital Context's CONTEXT model...

And finally, the exuberance of the equity market is catching back down to the less sanguine credit market just as we suggested...

Bonus Chart: While we have been told to expect a 13,000 Nikkei 225 level by the end of March - and we are sure Abe and his pals are watching FX markets closely - today's 3% crash higher in the JPY against the USD will have a few hearts racing as Japan opens this evening. Based on the last few weeks of highly correlated action between the Nikkei and the JPY, the current levels would tend to imply a drop of over 600 points on the main Japanese equity index or around 6%. Cue, BoJ nomination withdrawals in 3...2...1...

Japan closed happily higher last night, safe in the knowledge that all is well and fixed in Europe...


How things change...


Charts: Bloomberg

So to summarize, this is what just happened courtesy of Brokers with Hands On Their Faces


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Mon, 02/25/2013 - 17:10 | 3275102 Motorhead
Motorhead's picture

It's the weather.

Mon, 02/25/2013 - 17:27 | 3275188 TruthInSunshine
TruthInSunshine's picture

Fret not. Bernanke's 'Virtuous Circle' macroeconomic toolbox will levitate every "market" and "asset class" indefinitely and make every "investor" a winner (no more business cycles, falling markets, asset classes or losing sides of trades in Bernanktopia).

Step right up.

Mon, 02/25/2013 - 17:31 | 3275215 francis_sawyer
francis_sawyer's picture

LMAO ~ Gotta LOVE those stock footage pics of traders with their heads buried in their hands...


ht Tyler(s) ~ nice add, always good for a few laughs

Mon, 02/25/2013 - 17:33 | 3275227 saints51
saints51's picture

Made my day also. hahahahahaha mother fuckers!!!

Mon, 02/25/2013 - 17:40 | 3275239 francis_sawyer
francis_sawyer's picture

Comedy Central couldn't touch ZH with a 100 foot pole...


Umm ~ perhaps RHETORICAL, but notice that all the American Flag patches have gold fringe around them... Just sayiin'

Mon, 02/25/2013 - 17:40 | 3275254 BKbroiler
BKbroiler's picture

better a bunga bunga than a banker, says the people of Italy.

Mon, 02/25/2013 - 17:44 | 3275274 BoNeSxxx
BoNeSxxx's picture

"Gold and Silver surged (with the latter testing near $1600 again)"

The latter?  I WISH!

Mon, 02/25/2013 - 17:47 | 3275297 negative rates
negative rates's picture

Just double down tomorrow boys, you'll be fine, just fine.

Mon, 02/25/2013 - 17:48 | 3275302 saints51
saints51's picture

@Francis - Nope it couldn't touch it. We must of got our red arrow by one of those cocksticks in the pictures. hahahahahaha bitch!!! Not our fault you buying at retail prices.

Mon, 02/25/2013 - 17:51 | 3275316 NotApplicable
NotApplicable's picture

Dem flags are to remind dem of the "freedom" they enjoy.

Mon, 02/25/2013 - 17:59 | 3275373 saints51
saints51's picture

must pay tribute to the crown.

Mon, 02/25/2013 - 17:53 | 3275334 Pseudo Anonym
Pseudo Anonym's picture

good eye

American Flag patches have gold fringe around them... Just sayiin'


Mon, 02/25/2013 - 18:03 | 3275391 francis_sawyer
francis_sawyer's picture


Mon, 02/25/2013 - 18:03 | 3275392 francis_sawyer
francis_sawyer's picture


Mon, 02/25/2013 - 18:35 | 3275510 Stoploss
Stoploss's picture

A gold fringed flag represents no nation and no constitution.  99% don't know that. Including the Congress.

Fits perfectly with the current coup.

Mon, 02/25/2013 - 17:42 | 3275262 DollarMenu
DollarMenu's picture

Could it be the Full Moon?

Mon, 02/25/2013 - 19:42 | 3275751 Tango in the Blight
Tango in the Blight's picture

They should just take some happy pills and stay positive. Remember a pessimist is never right!

Mon, 02/25/2013 - 17:32 | 3275221 Stoploss
Stoploss's picture

Shit it's hot in there! 

JPY on FIYA!!!

Mon, 02/25/2013 - 17:39 | 3275250 mind_imminst
mind_imminst's picture

This is a great sarcastic post, but there is definitely truth to it. The governments of the world and markets are addicted to central banker largesse. Steep drops in the market will be met with more printing and deficit spending. It has "worked" for 4 years. Every 5 to 10% dip is met with new avalanches of liquidity. Yes, they can print (and borrow) infinite amounts of digital fiat and the nominal price of stocks will continue to soar (long term). I am hanging on to my short position until we get into that 5% to 10% drop range, then I am going cash out and go long with leverage on the S&P in a strenuous attempt to stay ahead of inflation with my "play" money.

Mon, 02/25/2013 - 22:04 | 3276193 Buck Johnson
Buck Johnson's picture

The faces say it all, where screwed.

Mon, 02/25/2013 - 20:04 | 3275814 GOSPLAN HERO
GOSPLAN HERO's picture

A crop failure in the USSR caused this! 

Mon, 02/25/2013 - 17:10 | 3275105 bank guy in Brussels
bank guy in Brussels's picture

Damn right euro crisis is back !

Euro break-up process has started ...

Thank God !

Mon, 02/25/2013 - 17:11 | 3275106 RockRiver
RockRiver's picture

Bernank will save us


Mon, 02/25/2013 - 17:31 | 3275219 fourchan
fourchan's picture

He is saving us, by killing us.

Tue, 02/26/2013 - 01:08 | 3276664 goldfish1
goldfish1's picture

Preserve the forest by cutting it down and replanting.

Mon, 02/25/2013 - 17:35 | 3275233 JustObserving
JustObserving's picture

Bernanke has to start printing $150 billion a month to levitate this market and at least $50 billion a month for Europe.  All those idiots worried about the printing ending soon will change their tune tomorrow.

QE forever.  Gold to $2000 and silver to $40 easily this year.

Mon, 02/25/2013 - 17:54 | 3275346 Five8Charlie
Five8Charlie's picture

Gas to $8/gal.

Mon, 02/25/2013 - 17:11 | 3275109 swissaustrian
swissaustrian's picture

Seems like the 2007 records are gonna be with us for a while longer

Mon, 02/25/2013 - 17:11 | 3275111 Shizzmoney
Shizzmoney's picture


Mon, 02/25/2013 - 17:11 | 3275112 natronic
natronic's picture

Back?!?!?!  I never realized it was gone.

Mon, 02/25/2013 - 17:11 | 3275113 Nothing To See Here
Nothing To See Here's picture

Italy is just an isolated case. Believe us, Greece, Portugal and Spain are totally different.

Mon, 02/25/2013 - 17:31 | 3275216 Winston Churchill
Winston Churchill's picture

Lest we forget:Italy,France,Cyprus,Malta are so totally different as well.

Mon, 02/25/2013 - 17:48 | 3275304 Vooter
Vooter's picture

Ireland is SUPER different...

Mon, 02/25/2013 - 17:35 | 3275234 JR
JR's picture

Reuters --ROME | Mon Feb 25, 2013 3:54pm EST

“A bitter campaign, fought largely over economic issues, made some investors fear a return of the kind of debt crisis that took the euro zone close to disaster and brought the technocrat Monti to office, replacing Berlusconi, in 2011.

“The projected results showed more than half of Italians had voted for the anti-euro platforms of Berlusconi and Grillo.”

Mon, 02/25/2013 - 17:12 | 3275114 Euro Monster
Euro Monster's picture

Guess who's back, guess who's back! Rooooar! Was here all the time by the way!

Mon, 02/25/2013 - 17:12 | 3275115 Calidreaming
Calidreaming's picture

ABOUT FUCKIN TIME!      FUCK YOU BERNANKE!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Mon, 02/25/2013 - 17:34 | 3275228 Kaiser Sousa
Kaiser Sousa's picture

Hey Cali..

thats trademarked...check please...


Mon, 02/25/2013 - 17:12 | 3275119 Debeachesand Je...
Debeachesand Jerseyshores's picture

I think it was those topless Italian female protesters that cause the slide today.

Mon, 02/25/2013 - 17:40 | 3275256 NotApplicable
NotApplicable's picture

I thought they were Ukranian? Or have they branched out?

Those ladies were some fighters. I LOLed hard at the one upside down in the police vehicle halfway out of the door. Had she been successful, she'd landed right on her head.

Too bad they aren't this engaged about something real, rather than fake elections for a fake government.

But hey, topless protesters keep the facade all shiny too!

Mon, 02/25/2013 - 18:19 | 3275450 tenpanhandle
tenpanhandle's picture the interest of staying fully informed, please direct me to these...ahem...historical documents.

Mon, 02/25/2013 - 18:57 | 3275590 francis_sawyer
francis_sawyer's picture

The Ukranian ones at Davos were hotter...

Mon, 02/25/2013 - 17:13 | 3275122 francis_sawyer
Mon, 02/25/2013 - 17:18 | 3275123 Number 156
Number 156's picture

Someone set the curtains on fire.

Even Karl Denninger set his tickercon to 1.

We will have to see how the Asian markets take this. IMHO, If they go down more than 2% average, run.

Mon, 02/25/2013 - 17:21 | 3275163 buzzsaw99
buzzsaw99's picture

Even Karl Denninger? That dude has been on defcon infinity for like fifteen years.

Mon, 02/25/2013 - 17:43 | 3275270 Number 156
Number 156's picture

Even Karl Denninger? That dude has been on defcon infinity for like fifteen years.

Maybe I havent been around long enough. I've never seen him put it on 1.

Mon, 02/25/2013 - 17:12 | 3275125 fuu
fuu's picture

Maybe gold leads.

Mon, 02/25/2013 - 17:13 | 3275127 thismarketisrigged
thismarketisrigged's picture

so fucking happy we are red for the month. i love this bloodbath, it was so fun watching all the red across my level 2 trading platform throughout the day, specifically the final hour.


asia is going to get slaughtered tonight, and if this bouscolini guy ends up winning, watch out, europe will implode.


bernanke speaks tomm and wed, as we speak, benny boy is prob changing up his speech and reassuing his bank buddies that he will continue qe for the immediate future.


also, fuck goldman sachs, so satisfying seeing that stock the entire day drop over 4 percent. 

Mon, 02/25/2013 - 17:17 | 3275150 francis_sawyer
francis_sawyer's picture

 "Have you tried 22 tonight?"

~ Rick Blaine

Mon, 02/25/2013 - 17:13 | 3275131 edb5s
edb5s's picture

VXX to the moon!

Mon, 02/25/2013 - 17:13 | 3275132 BlueStreet
BlueStreet's picture

Back up the truck, at least for today.  Fuck you B.B! 





Mon, 02/25/2013 - 17:14 | 3275135 Frastric
Frastric's picture

Interesting that the Dow made an intra-year high this session before reality bited...

Mon, 02/25/2013 - 18:08 | 3275413 ApollyonDestroy
ApollyonDestroy's picture

The last high we'll ever see ~THE GREAT SLIDE HAS BEGUN!~ .bitchez

Mon, 02/25/2013 - 18:09 | 3275417 ApollyonDestroy
ApollyonDestroy's picture

..and bullish Costco looters (me).

Mon, 02/25/2013 - 17:14 | 3275137 JonNadler
JonNadler's picture

the market can drop?

Mon, 02/25/2013 - 17:15 | 3275139 Shizzmoney
Shizzmoney's picture


Mon, 02/25/2013 - 17:15 | 3275140 IridiumRebel
IridiumRebel's picture

I love this fucking website! All you have to do is read, comment/bitch a little and hold the fuck on!

Mon, 02/25/2013 - 17:20 | 3275160 Fuh Querada
Fuh Querada's picture

Fuck!! Just wanted to prove your point.

Mon, 02/25/2013 - 17:22 | 3275168 IridiumRebel
IridiumRebel's picture

Can we get LongSoupLine in here to drop about 14 fucks in three sentences?

Mon, 02/25/2013 - 17:26 | 3275191 Ima anal sphincter
Ima anal sphincter's picture

How about just one asshole.

Mon, 02/25/2013 - 17:31 | 3275214 IridiumRebel
IridiumRebel's picture

My fave today by LSL was "dickeared". Spit some coffee through my nose....

Mon, 02/25/2013 - 17:33 | 3275225 francis_sawyer
francis_sawyer's picture

My only problem with LSL comments is that he forgets to put "...and tits" at the end...

Mon, 02/25/2013 - 17:52 | 3275327 ParkAveFlasher
ParkAveFlasher's picture

LSL = the issuer of finest gems.  I can't even type a curse any more without feeling like I'm stepping on daddy's toes.


Mon, 02/25/2013 - 17:34 | 3275231 Winston Churchill
Winston Churchill's picture


A little refinement please.


Mon, 02/25/2013 - 19:06 | 3275312 Ima anal sphincter
Ima anal sphincter's picture

All Wars are Bankers Wars

Good vid by Mike Rivero of  He has some VERY interesting things to say about Mr Churchill.

Mon, 02/25/2013 - 17:23 | 3275179 SmallerGovNow2
SmallerGovNow2's picture

Popcorn and beer work well with it as well...

Mon, 02/25/2013 - 17:37 | 3275241 smlbizman
smlbizman's picture

thee oscar for the most greatest financial + information site on the planet, thee award  goes to, and we need no fucking drumroll.....


Mon, 02/25/2013 - 17:18 | 3275152 yogibear
yogibear's picture

Who thought it was fixed????

BS after BS after BS about it being all fixed. I was just getting used to thinking illogically.

Beginning to believe in unicorns that  pooped skittles.


Mon, 02/25/2013 - 17:18 | 3275153 AndItsGone
AndItsGone's picture


Mon, 02/25/2013 - 17:28 | 3275200 mayhem_korner
mayhem_korner's picture



It's only Monday.  Patience. 

BTW, the Dow dropped 300 from it's early morning "high".  CNBC must've missed that.

Mon, 02/25/2013 - 17:43 | 3275269 Ness.
Ness.'s picture

Ageed, I didn't heard the bobbleheads on MSM mention that the DOW was well off it's HIGHS today.

Mon, 02/25/2013 - 17:18 | 3275155 SumSUN
SumSUN's picture

Fuck yes.  Got short the DOW at 14,000.  Hope to make some fiat so I can go on a drunken pirate adventure agian.

Mon, 02/25/2013 - 17:18 | 3275157 JustObserving
JustObserving's picture

Europeans, you better buy gold and silver before your currency becomes junk

Mon, 02/25/2013 - 17:27 | 3275192 Super Broccoli
Super Broccoli's picture

like your green paper is gona be worth something ...

Mon, 02/25/2013 - 17:59 | 3275374 ParkAveFlasher
ParkAveFlasher's picture

I wonder if Ben prints a special series of dollar bills, attached end to end, for use at SkeeBall prize counters and boardwalk arcades.

So yes, the green paper will be worth something, especially if you can whip that ol' SkeeBall!

Mon, 02/25/2013 - 17:37 | 3275244 rguptatx
rguptatx's picture

Another 500 pips drop in the EURUSD, and it'll be time for GS to advise the muppets to short EURUSD!

Mon, 02/25/2013 - 17:22 | 3275173 Yen Cross
Yen Cross's picture

 I feel sorry for anyone that was trading the eur/jpy today. They got run through the fucking "wood chipper", and turned into cat food. -600 pips!

Mon, 02/25/2013 - 17:26 | 3275194 IridiumRebel
IridiumRebel's picture

...more like kitty litter as they're about to get shit on again in Asia!

Mon, 02/25/2013 - 18:26 | 3275482 tenpanhandle
tenpanhandle's picture

nothing us PM buyers / investors don't go through on a regular basis.  I've been through the woodchipper so many times I'm completely mulched.  All thats left is the composting process.  Hope it doesn't get there but hey I'm hedged with carbon credits.

Mon, 02/25/2013 - 17:23 | 3275175 Martial
Martial's picture

"Gold and Silver surged (with the latter testing near $1600"

Man I wish!

Mon, 02/25/2013 - 18:01 | 3275385 ParkAveFlasher
ParkAveFlasher's picture

I'm sticking with my prediction from last week, I believe it was $1620 by tomorrow. 

Watch that physical silver supply, gents.  I'm sticking to my $167/oz silver in April.  Or, $17/oz.   Either way, I'll be happy.

Mon, 02/25/2013 - 18:05 | 3275405 THX 1178
THX 1178's picture

Either way the world will be unrecognizeable.

Mon, 02/25/2013 - 17:25 | 3275178 Charles Nelson ...
Charles Nelson Reilly's picture

What?!?  Fuckin CNBC told me that Europe's problems were going to go away on their own.  Can't we just print a shit ton of money and paper over this bitch?

Mon, 02/25/2013 - 17:41 | 3275258 SheepDog-One
SheepDog-One's picture

Just like that nasty case of lymphoma cancer, should just go away on its own!

Mon, 02/25/2013 - 17:24 | 3275181 Charles Nelson ...
Charles Nelson Reilly's picture

Someone get Kevin Henry on the phone ASAP!

Mon, 02/25/2013 - 17:28 | 3275182 IridiumRebel
IridiumRebel's picture

Bunga fuckyou Bunga BitcheZ!
Long underage Italian hookers.....

Mon, 02/25/2013 - 18:01 | 3275380 neidermeyer
neidermeyer's picture

Extra points for the underage Italian hookers ,, soon maybe we'll have junkets to Italy instead of Thailand... or maybe a cruise line will get smart and hire Thai girls for the massage therapy boutique.

Mon, 02/25/2013 - 17:25 | 3275187 Scalaris
Scalaris's picture

That dastardly crisis, I knew it never left.

Grazie vxx.

Mon, 02/25/2013 - 17:27 | 3275197 mkgone
mkgone's picture

Luckily I'm a poor european so EUR can go to hell - I don't care:D.

But I think EUR will only lose against the USD - AUD and NZD will get crunched against EUR if the market falls.

Mon, 02/25/2013 - 17:27 | 3275198 debtor of last ...
debtor of last resort's picture

In the end, Bernanke's and Draghi's Ikea skunk meatballs are toast.

Mon, 02/25/2013 - 17:45 | 3275201 SillySalesmanQu...
SillySalesmanQuestion's picture

Come and see the show.

Free popcorn, peanuts, cotton candy, and Dow 14,000 tin foil hats.

Free adult beverages.

Free muppets and day-trading accounts.

Come and see the ShitShow tommorrow, 1-day only!

Brought to you exclusively by Golman Sachs; Doing God's Work.

Mon, 02/25/2013 - 17:29 | 3275203 Osmium
Osmium's picture

I always love the pictures of the specialists and brokers in agony when the market drops. 

Mon, 02/25/2013 - 17:44 | 3275265 SHRAGS
SHRAGS's picture

What, are you dense?

Mon, 02/25/2013 - 18:06 | 3275409 THX 1178
THX 1178's picture


Mon, 02/25/2013 - 17:30 | 3275207 kahunabear
kahunabear's picture

Hold on minute. I just heard Steve Leisman say that the market has over done this and there is plenty of easing to come for the "investor class". Oh, and pretty much screw anyone not willing to buy NFLX who might think they should get any small return on their ever more worthless paper fiatscos. Criminal, just criminal.

Mon, 02/25/2013 - 17:47 | 3275293 NotApplicable
NotApplicable's picture

Easing? You mean like every day low margins on select goods?

Mon, 02/25/2013 - 17:29 | 3275208 Cman5000
Cman5000's picture

Burn Mother Fucker.. Burn: to undergo rapid combustion,to destroy with fire.

Mon, 02/25/2013 - 17:30 | 3275212 politicalgridlock
politicalgridlock's picture

Buy the dip!!!

Mon, 02/25/2013 - 17:57 | 3275365 Vooter
Vooter's picture

Stick your penis in a monkey's ass!!!

Mon, 02/25/2013 - 18:15 | 3275438 sessinpo
sessinpo's picture

Imagine a monkey, Vooter, asking to be ass fucked.

Mon, 02/25/2013 - 18:41 | 3275530 Vooter
Vooter's picture

I don't need to imagine it...OH, YEAHHHHHHHH!!!

Mon, 02/25/2013 - 17:30 | 3275213 EclecticParrot
EclecticParrot's picture

"Once such ideas began to torment him, would they ever quite leave him alone?  And indeed the manager believed he could see . . . the first furrows of care engraving themselves upon the trapeze artist’s smooth, childlike forehead."

- F. Kafka

Mon, 02/25/2013 - 17:31 | 3275217 thismarketisrigged
thismarketisrigged's picture

whats jim cramer going to say now?


all i heard from him this morning was how europe was slowing in growth a bit, but nothing terrible or anything, told me asia was fine despite flash pmi lastnight disappointing, and the u.s is fine.


if ben bernanke fucking says he is going to continue qe for the immediate future without signaling a stop to it eventually, i will fucking strangle him.


the best would be a major crash while 0bama is still in office and that asshole trys to blame bush for the mess still, despite bush being gone for over 4 plus years now


fuck u wall st, today is what days should be like reguarlly, u guys are a bunch of thieves. u guys should be on ur knees kissing bernankes feet, bc without him, u guys would all be jobless u fucking bastards.


get used to this, bernanke will have to stop eventually, and when he does, wall st will pray for days like today

Mon, 02/25/2013 - 17:48 | 3275303 NotApplicable
NotApplicable's picture


"Blah... blah...blah...blah...blah...blah...blah...blah..."

Mon, 02/25/2013 - 18:04 | 3275402 saints51
saints51's picture


Mon, 02/25/2013 - 17:32 | 3275222 debtor of last ...
debtor of last resort's picture

Disney movies, soon in your theater. Movies, Magic and Moar!

Mon, 02/25/2013 - 17:33 | 3275223 SheepDog-One
SheepDog-One's picture

High flyin as any experimental pilot can tell you gets very sketchy the higher you go! Engines flame out, wings have nothing to hold on to...go Ben GO you can doo eet!!

Mon, 02/25/2013 - 18:04 | 3275399 neidermeyer
neidermeyer's picture

If you were a real pilot you'd know altitude is your friend ,, from ground to 1000' is the real danger especially if you're slow and in a twin.

Mon, 02/25/2013 - 18:24 | 3275474 Temporalist
Temporalist's picture

The comment was "experimental pilot" as in the real pilots that have to wear pressure suits and breathe canned O2 to live.

Mon, 02/25/2013 - 17:33 | 3275224 surfsup
surfsup's picture

Yeah who needs stop losses and defined risk...  Shit they never metioned it on CNBS?

Mon, 02/25/2013 - 17:34 | 3275229 SheepDog-One
SheepDog-One's picture

Oh I almost forgot! FUK U BROKERS!!

Mon, 02/25/2013 - 17:35 | 3275235 Dr_Lucid
Dr_Lucid's picture

Those pictures are priceless.

I'm wondering if that chick on second photo ended up crying in the bathroom ( as they all do ) or went home and just beat the crap out of her boyfriend ?

Mon, 02/25/2013 - 18:10 | 3275423 adr
adr's picture

That poor rabbit, D cells aren't cheap anymore.

Mon, 02/25/2013 - 17:36 | 3275238 Super Broccoli
Super Broccoli's picture

oh there you are crisis, where have you been ? i was looking for you !

Mon, 02/25/2013 - 18:02 | 3275387 Meat Hammer
Meat Hammer's picture

It was in the bathroom gettin purdy

Mon, 02/25/2013 - 19:45 | 3275485 Charles Wilson
Charles Wilson's picture

THIS Crisis in the bathroom gettin' purdy?




Mon, 02/25/2013 - 17:37 | 3275240 Kirk2NCC1701
Kirk2NCC1701's picture

Easy to solve, if the Detroit Big 3 had their way:  "Fed-sponsored Clunkers for Gold!".  "Trade in your clunker for a green car and 10 oz. of Fed Gold.  All gold sales are final."  And all the illegals trade in their clunkers for what they heard as green card.  Now that would create some jobs.

Mon, 02/25/2013 - 17:37 | 3275242 falak pema
falak pema's picture

why are all these guys holding their heads?

Were they hoping to be invited to Bunga Bunga, only to find that it will be restricted entry?

Its enuff to make any trader nervous.

Mon, 02/25/2013 - 17:37 | 3275243 lolmao500
lolmao500's picture

Time to print some moar!

Mon, 02/25/2013 - 17:38 | 3275245 MoneyThangs
MoneyThangs's picture

Haven't felt this gloomy since 2008 probably a good time to start buying

Mon, 02/25/2013 - 17:38 | 3275246 Silverhog
Silverhog's picture

It's about time we get the shit storm started. Another year of this limbo crap is for the birds. 

Mon, 02/25/2013 - 17:38 | 3275248 sessinpo
sessinpo's picture

Another joke misleading story that is a one day event.

Mon, 02/25/2013 - 17:43 | 3275266 Vooter
Vooter's picture

Looks like sessinpo is long and wrong! :-)

Mon, 02/25/2013 - 17:50 | 3275313 sessinpo
sessinpo's picture

And you are wrong.


I have posted my positions and I was actually short  above 13k on the Dow on a small position. And I haven't changed my stance since the beginning of the year and yes, I have had to endure some small pain (paper loses) as the market went up. I am at least honest and post my thoughts and put my money where my mouth is.


Go ahead and look it up dumb ass. Perhaps you should know who you are talking to before you put your foot in your mouth.

Mon, 02/25/2013 - 17:56 | 3275357 Vooter
Vooter's picture

"Perhaps you should know who you are talking to before you put your foot in your mouth."

Perhaps you should take your complaints down to someone who gives a fuck...

Mon, 02/25/2013 - 17:59 | 3275370 sessinpo
sessinpo's picture

Apparently you do give a fuck because you replied dumbass.

Mon, 02/25/2013 - 18:39 | 3275523 Vooter
Vooter's picture

LA-LA-LA-LA-LA-LA-LA...I can't hear hands are over my ears...LA-LA-LA-LA-LA-LA-LA...

Mon, 02/25/2013 - 19:45 | 3275760 Just Ice
Just Ice's picture

Cute kid.  Must be at least five.

Mon, 02/25/2013 - 17:54 | 3275344 sessinpo
sessinpo's picture

More like looks like my suggestions and bets have been a wash.


What have I said over the last 6 months. PMs would rise moderately compared to most other assets - check

Dow would be a good short above 13k. I've taken some small pain with my short position which I have posted periodically. so FAIL to this point


Bring it Vooter. Correct me.

Mon, 02/25/2013 - 17:43 | 3275271 sessinpo
sessinpo's picture

Let me add to my comment. The thread is misleading because the downturn isn't because of Italy. Italy is nothing (no offense to Italians). There is much more going on. Italy is a one time event much like Greece or whatever Euro nation in a mess. Italy's situation is a convenient cover.

Mon, 02/25/2013 - 18:00 | 3275375 negative rates
negative rates's picture

Not quite, the US political system is the cover. Some how the Italians can not delay finances as we do in this country. the chit actually hits the fan over there, while we juggle trillion dollar coins and make believe everything is okay.

Mon, 02/25/2013 - 18:33 | 3275501 sessinpo
sessinpo's picture

Thank you for your reply. It was cordial and is a reasonable debatable response, unlike Vooter.


Here is where I disagree. Italy, like the other Euro nations, are playing a game. When their finances are inspected, then they cry to the EU and Central Bank for a bailout. Have we not seen that time and time again, Greece, Spain, etc.


So in essence, I disagree with you that they cannot delay their financial problem. It is the same over here, where we delay our financial problems via the Federal Reserve Bank. But that is monetary.


What I didn't explain and probably should have before I was distracted by the troll Vooter, is that in the US, we have moved to a FISCAL problem. Notice how Bernanke isn't talked about much. It's all about Government - cutting spending or raising taxes. Italy isn't in that same mode. They are in the mind frame of monetary, not fiscal.


The sequester is actuallly a small deal. And what I wanted to expand upon is that I think sequester might go through. Why? Because from all reports, there are no negotiations going on.


Here is why I think that is happening. There is a bigger fiscal problem (as if we haven't had enough) that happens at the end of March. It is like the debt limit, where it could shut down the government. So, my thinking is that Republicans are trying to strengthen their hand by holding the line on the sequester so that they can get some sort of compromise on the bugdet by the end of March.


You comment is welcome and I enjoyed your post and thought.

Mon, 02/25/2013 - 21:26 | 3276077 Pareto
Pareto's picture

Italy, Greece, Russians, Koreans, yields on Italian 2's and 10's.....all just spin.  Nothing ever "went away", just a new story to tell to appease the egomaniac fucksticks residing at the Fletcher Memorial home.  Your story is equally legitimate.  fuck sure, why not?  But, on sequester....meh. 

This is a non-event, and so is March.  This article:, in my opinion, is probably the most cogent I've seen to date on why "shit happens", or, going to happen and why the sequester is just another chapter out of "distraction economics".  And this line says it all, "QE can only be described as genuinely effective if it lifts productivity sufficiently for debt to fall relative to GDP."  Which, of course, it hasn't, and never will.

All the QE in the world doesn't change the destructive element of QE being a non-wealth generating exercise.  It has sucked in resources from formerly productive areas of the economy. leaving debt and retarded real growth in its wake.  This will end bad.  It always does.  Side bar: I thought Lucas had put Keynesian monetarism to rest some 36 years ago.

This should come as no surprise to the so-called 200 who call themselves economists; though I can assure you that it comes as no surprise to ZH'ers.  About all I can say is simply this: "fuck i'm glad I have at least some of my wealth in PMs".  Its the only thing that makes any me anyhow.

Mon, 02/25/2013 - 17:42 | 3275259 bigkahuna
bigkahuna's picture

You mean the crisis is back!? Oh shit, really? They said they fixed it! THEY SAID THEY FIXED IT!!!!

Mon, 02/25/2013 - 17:42 | 3275260 Kirk2NCC1701
Kirk2NCC1701's picture

Cramer:  "Buy the dip!", per Mon, 02/25/2013 - 16:30 | 3275212 politicalgridlock 

Mon, 02/25/2013 - 17:42 | 3275261 SheepDog-One
SheepDog-One's picture

HAPPY MONDAY you damn dirty ape Wall St traders!

Mon, 02/25/2013 - 17:46 | 3275285 chump666
chump666's picture

Correction is on, how deep?  Depends if a 'great' rotation out of JPY shorts and back into USDs, which means liquidity will tightening dramatically = thus correction.  FX has been point to that for weeks, AUD, NZD, CAD and YEN cross etc

Waring signs were on the JPY when the IMMI chart came out weekend, shorts were cut, hedge funds are out, housewife's were in...nasty.  Nikki will be brutalized next few hours, all eyes on the shanghai though...


Mon, 02/25/2013 - 17:47 | 3275291 MeelionDollerBogus
MeelionDollerBogus's picture

Europe - the Chris Dorner of the stock market :D

And as for those brokers' faces ... I see a Facepalm series coming soon

Mon, 02/25/2013 - 17:49 | 3275306 otto skorzeny
otto skorzeny's picture

“This is not the drop you shorts are looking for“- Obi-Ben Bernanke. back to 14k by Fri.

Mon, 02/25/2013 - 17:54 | 3275343 Vooter
Vooter's picture

"back to 14k by Fri."

That's fine...that'll just make the long-term suffering more enjoyable to watch...

Mon, 02/25/2013 - 17:52 | 3275324 hooligan2009
hooligan2009's picture

nothing to see didn't make that...move along

Mon, 02/25/2013 - 17:53 | 3275335 EclecticParrot
EclecticParrot's picture

The depressing thing about today is that, though I've been waiting for a more substantive plunge to capitalize on, I've been so brainwashed by 2013's incessant late day ramping that I thought to myself:   "no way will we break the lowest pivot point, they won't allow it" even though all signs on 15+ min charts pointed decisively southward after 2:30.  So, instead of leaping aboard when the final pivot was cleared, I sat dumbfounded as we fell faster than a Spanish soccer player back to earth.  Ah, these cursed algos are in our very heads now.  Bastards.

Mon, 02/25/2013 - 17:55 | 3275348 hooligan2009
hooligan2009's picture

heh...take your prifts and invest gold and emotion in money if you want to play with the bots...

Mon, 02/25/2013 - 18:38 | 3275514 EclecticParrot
EclecticParrot's picture

Well, my birthstone happens to be cubic zirconia, so I tend to avoid diamonds.  In this case it's not 'emotion' per se, but preconceived notions, which can be even more dangerous, as they can be intellectualized (e.g., "well, I imagine we'll be bouncing smartly off of this final pivot point forthwith.").  As always, the key is to follow your system and let the bots toy with themselves -- much easier to say than do when assaulted by long-wicked candles programmed by miscreants with small-wicked penises.

Mon, 02/25/2013 - 17:59 | 3275368 Edward Fiatski
Edward Fiatski's picture

Hey, I've seen these faces here before - must be the same fuckers buying at tops.

Tom is U.S. House prices index, Consumer Confidence for Feb & New Home Sales for Jan. And Wednesday it's Durable Goods data.

HOLY SHIT, start practicing inserting long fallic objects into your splichters, tonight!

Mon, 02/25/2013 - 18:01 | 3275381 Meat Hammer
Meat Hammer's picture

Time to start marketing the "Told You So" t-shirts.


Mon, 02/25/2013 - 18:03 | 3275390 BudFox2012
BudFox2012's picture

Who saw this coming?  Who could have predicted this?  (except Zerohedge, Mark Faber, Jim Rogers, Bob Chapman, Geralde Celente, Peter Schiff, Max Kaiser, Alex Jones, Kyle Bass, Nigel Farage, Eric Sprott, ect, ect, ect)


Mon, 02/25/2013 - 18:14 | 3275435 Savyindallas
Savyindallas's picture

AND mE! I thought about dumping my UVXY this morning at $10 - a little voice in my head told me to sell. But then another little voice (my guardian Angel) said NO! and  stopped me just as I was about to place the order. Thank you Jesus.

Mon, 02/25/2013 - 18:03 | 3275394 yogibear
yogibear's picture

Time for Bubble Bernanke and the Federal Reserve to print infinite money and get it to Italy.

Bernanke thinks he can save the world with his magical printing machine.

You ain't seen nothing yet. Wait until the complete collapse of the US dollar.


Bernanke and the rest of the Fed doves will keep playing the game until a complete US dollar collapse.


Mon, 02/25/2013 - 18:03 | 3275395 azengrcat
azengrcat's picture

So when do we get the "SEC Regulators With Hands In Pants" tumblr?

Mon, 02/25/2013 - 18:07 | 3275411 adr
adr's picture


Go long bars, liquor stores, and pawn shops in New York. Hopefully the news will be filled with footage of banskters falling from buildings, they'll keep looking for the plane that hit the tower, but it won't be there.

We're not there yet, but we could be soon. The greatest sight in the world is a bankster left holding the bag. Oh you thought I was goin to buy the fake Rolex, HAH!! FRY MOTHERFUCKER!!!!!

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