Market 'Plunges' By 0.17%, Worst Drop In Three Weeks

Tyler Durden's picture

The streak is dead - long live the streak - for the first losing Friday of the year. A sad day among the media though Maria B did proclaim "today was a victory even though we were down," so we can rest assured that all is well. While equities ending off their highs, the week was still positive 1-2% - especially for the Trannies - but rather oddly (well not really anymore) Treasuries are going out at the low yields of the week - down 7bps. The USD lost 0.7% with AUD and GBP strength weighing most and a decent surge higher in JPY today's day session. Oil prices jumped 1.7% on the week back over $93.50 (as RBOB and retail prices start to rise once again). Gold and Silver diverged with the former up 0.8% and the latter -0.7%. Volume today was very heavy (and it was a down day) but the quad-witching is to blame as opening an closing trading was huge as S&P 500 futures tagged new highs overnight but couldn't escape the lows of VWAP at the close. So far 2013 has been a perfect replay of 2012 - Is this it?


Keep Calm and Don't Stop Buying The F$$king Dip...


It was an odd week of divergence as Bonds and Stocks and Gold were bid - sounds like moar QE to 10Y yields close at one-week lows and stocks near the highs...(though strangely in line with gold)...


and a potentially interesting insight - 'most shorted' names were ramped today but it failed and on the week - the Russell and its 'most shorted' close in line... as we warned after yesterday's divergence - is the squeeze over?


March so far in the markets... No Ides Yet...


as Oil jumped and gold and silver diverged...


Overall the TSY strength and FX carry reversal dragged stocks lower in a highly correlated manner as Capital Context's CONTEXT model shows (gap is data from futures roll)...


2013 = 2012 - Is This It?


Charts: Bloomberg and Capital Context


Bonus Chart - what happened the last few times that volume and average trade size surged on an AAPL up day? - oops...

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ihedgemyhedges's picture


James_Cole's picture

Well, the ads on here I keep getting from Macquarie are telling me consumer confidence is back so reality be damned. 

Dr. Richard Head's picture

I have been getting ads for portable toilets camper-style.  I have been reading too many Carnival Cruise stories....or maybe the market just needs a portable toilet and Filipeno girls for dating too.

francis_sawyer's picture

Wait!... Does this mean that I'm going to have to CANCEL the juggler I'd planned to hire to perform at Solomon's Bar Mitzvah?

Doomer's picture




Never One Roach's picture

"There's never been a better time to buy....the Dow then now!...Yada, Yada, Yada!!! Buy Now...Don't be priced out!!!"

Dr. Richard Head's picture

Are you my hot blonde big titted realtor or my scotched up mid-life crisis "wealth" manager. I hope it be the former.

Dr. Richard Head's picture

Are you my hot blonde big titted realtor or my scotched up mid-life crisis "wealth" manager. I hope it be the former.

Race Car Driver's picture


We don't need no water - let the mutherfucker burn! Burn, mutherfucker! Burn!

francis_sawyer's picture

Hello my name is Jimmy Pop and I'm a dumb white guy

I'm not old or new but middle school, fifth grade like junior high
I don't know mofo' if y'all peeps be buggin' give props to my ho 'cause she fly

But I can take the heat 'cause I'm the other white meat known as Kid Funky Fry
Yeah I'm hung like planet Pluto hard to see with the naked eye
But if I crashed into Uranus I would stick it where the sun don't shine

'Cause I'm kind of like Han Solo always strokin' my own wookie
I'm the root of all that's evil yeah but you can call me Cookie

Race Car Driver's picture

Ah, young'uns....

The reality that was Wilson B. Goode was better than the song and the video.


ImReady's picture

Soo glad I moved everything into cash and PM's! Thank you ZH!

McMolotov's picture

"The streak is dead ... for the first losing Friday of the year."


*runs around, waving arms and screaming*

Dr. Richard Head's picture

he who panics first does indeed panic best.

azzhatter's picture

Did Maria have that Jamie jizm on her rosy cheeks again or did she swallow this time?

random shots's picture


Gazooks's picture

we leased the children, try; for the love of God

McMolotov's picture

Greed, for lack of a better word, is God.

Doomer's picture

Blankfein and Co. own the children.

Unprepared's picture

With hedonic seasonal adjustments, the S&P was actually up 20pts.

HD's picture

Last summer (I think) Tyler posted a fantastic commencement address detailing just how hard (and rewarding) it is to fight the market gods. Anyone remember who that was?

Toolshed's picture

I think you are referring to Michael Burry.

HD's picture

You sir are awesome. Thank you.

Here is the ZH link for anyone interested.

Everybodys All American's picture

This con game can last a very long time if people listen to CNBC and Maria for market advice.

FuzzyDunlop21's picture

Seriously how far does Bernanke's dick need to be up their ass before they realize they're getting fucked?

trollin4sukrz's picture

Grab a shovel and start digging, that is the only hope.

tenpanhandle's picture

I'm already in so deep the dirt keeps falling back on my head.

Dr. Richard Head's picture

At $5 to dig it out of the ground you sir must have a huge find there!

Shizzmoney's picture

It's all JPM's fault.

Devils Advocate's picture

Oh the humanity, I lost money today. I didn't know that was possible.

Obchelli's picture


What is so hard there to understand?

Yen Cross's picture

     (financial news)  We'll be watching cricket chirping contests on the MSM media tonight.

EclecticParrot's picture

Even so, the Russell ramped from 10:15 (post Confidence figures) to 2:15, then "plunged" to actually end with a VWAP slightly higher than yesterday's vainglorious close (?!).  Those sons-of-bitches -- how I'd love to get them in an unpadded room with their supercomputers turned off and sans pocket-protectors, and kick their collective asses, those guttersnipes with Ph.D.s, summa cum laude shitheads, Mensa maggots -- wish they'd focus on more important things, like the Higgs Boson (or was it bison?) and leave my fave trading vehicle alone.

Bear's picture

You may continue to make light of this drop ... but remember that this was the largest POMO of the month and with 4 Billion seeking a bid, an down day is significant ... says the Bear ... short now

Yen Cross's picture

    A smart man you are Bear. I shorted usd/jpy late Wednesday(96.6) for a target of 94.5.(closed the trade @ 95.30) It may touch that level on Sunday, but I cleared the 95.5 handle easily. The DXY needed a retrace before the next leg up.

LawsofPhysics's picture

Indeed, only one or two days this month without pomos, should get interesting.

Yen Cross's picture

  Next Wednesday is POMO free  LoP.

Panafrican Funktron Robot's picture

Fed presser next week, should be all kinds of head fakery and weird shit.  I'd love to see today's giant pomo day as a bear signal (esp. with some significant opex), but, shit man, I don't know. 

Sach Mahoney's picture

Something sad about streaks ending. 

B2u's picture

Oh no, what am I going to tell my parents?

IridiumRebel's picture


syntaxterror's picture

Cheer up. There's $4,000,000,000 more in new FED asset purchases on Monday that will magically become $120,000,000,000 for equities traders. Still bullish!