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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Fri, 03/15/2013 - 16:24 | 3333422 ihedgemyhedges
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Fri, 03/15/2013 - 16:38 | 3333467 James_Cole
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. 

Fri, 03/15/2013 - 16:47 | 3333488 Dr. Richard Head
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.

Fri, 03/15/2013 - 17:17 | 3333534 francis_sawyer
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?

Fri, 03/15/2013 - 17:06 | 3333526 Doomer
Doomer's picture




Fri, 03/15/2013 - 17:06 | 3333542 fuu
fuu's picture


Fri, 03/15/2013 - 17:23 | 3333566 Never One Roach
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!!!"

Fri, 03/15/2013 - 18:55 | 3333752 Dr. Richard Head
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.

Fri, 03/15/2013 - 18:56 | 3333753 Dr. Richard Head
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.

Sat, 03/16/2013 - 10:51 | 3335042 Randall Cabot
Randall Cabot's picture

Paulsen predicts S&P 1700 by year end:

Fri, 03/15/2013 - 17:07 | 3333539 Race Car Driver
Race Car Driver's picture


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

Fri, 03/15/2013 - 17:28 | 3333583 francis_sawyer
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

Fri, 03/15/2013 - 18:01 | 3333630 otto skorzeny
otto skorzeny's picture

video was as good as the song

Fri, 03/15/2013 - 20:36 | 3334047 Race Car Driver
Race Car Driver's picture

Ah, young'uns....

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


Fri, 03/15/2013 - 18:50 | 3333740 ImReady
ImReady's picture

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

Fri, 03/15/2013 - 16:25 | 3333425 McMolotov
McMolotov's picture

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


*runs around, waving arms and screaming*

Fri, 03/15/2013 - 16:48 | 3333489 Dr. Richard Head
Dr. Richard Head's picture

he who panics first does indeed panic best.

Fri, 03/15/2013 - 17:39 | 3333596 azzhatter
azzhatter's picture

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

Fri, 03/15/2013 - 16:26 | 3333430 random shots
random shots's picture


Fri, 03/15/2013 - 16:32 | 3333448 Martial
Martial's picture


Fri, 03/15/2013 - 16:32 | 3333453 Gazooks
Gazooks's picture

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

Fri, 03/15/2013 - 16:35 | 3333455 McMolotov
McMolotov's picture

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

Fri, 03/15/2013 - 17:05 | 3333535 Doomer
Doomer's picture

Blankfein and Co. own the children.

Fri, 03/15/2013 - 16:26 | 3333432 Unprepared
Unprepared's picture

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

Fri, 03/15/2013 - 16:26 | 3333435 HD
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?

Fri, 03/15/2013 - 16:40 | 3333472 Toolshed
Toolshed's picture

I think you are referring to Michael Burry.

Fri, 03/15/2013 - 16:46 | 3333484 HD
HD's picture

You sir are awesome. Thank you.

Here is the ZH link for anyone interested.

Fri, 03/15/2013 - 16:26 | 3333436 Everybodys All ...
Everybodys All American's picture

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

Fri, 03/15/2013 - 16:32 | 3333451 FuzzyDunlop21
FuzzyDunlop21's picture

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

Fri, 03/15/2013 - 16:44 | 3333481 HD
Fri, 03/15/2013 - 16:28 | 3333439 trollin4sukrz
trollin4sukrz's picture

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

Fri, 03/15/2013 - 16:31 | 3333444 tenpanhandle
tenpanhandle's picture

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

Fri, 03/15/2013 - 16:32 | 3333450 trollin4sukrz
trollin4sukrz's picture

Get a conveyor belt.

Fri, 03/15/2013 - 16:49 | 3333494 Dr. Richard Head
Dr. Richard Head's picture

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

Fri, 03/15/2013 - 16:30 | 3333443 Shizzmoney
Shizzmoney's picture

It's all JPM's fault.

Fri, 03/15/2013 - 16:31 | 3333445 Devils Advocate
Devils Advocate's picture

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

Fri, 03/15/2013 - 16:38 | 3333461 Obchelli
Obchelli's picture


What is so hard there to understand?

Fri, 03/15/2013 - 17:33 | 3333465 Yen Cross
Yen Cross's picture

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

Fri, 03/15/2013 - 16:40 | 3333471 EclecticParrot
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.

Fri, 03/15/2013 - 16:41 | 3333473 Bear
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

Fri, 03/15/2013 - 17:02 | 3333503 Yen Cross
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.

Fri, 03/15/2013 - 17:23 | 3333565 LawsofPhysics
LawsofPhysics's picture

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

Fri, 03/15/2013 - 17:36 | 3333590 Yen Cross
Yen Cross's picture

  Next Wednesday is POMO free  LoP.

Fri, 03/15/2013 - 18:09 | 3333648 Panafrican Funk...
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. 

Fri, 03/15/2013 - 16:40 | 3333475 Sach Mahoney
Sach Mahoney's picture

Something sad about streaks ending. 

Fri, 03/15/2013 - 17:17 | 3333552 IridiumRebel
IridiumRebel's picture

"This guy's like a ninja, Man!"

Fri, 03/15/2013 - 16:42 | 3333478 B2u
B2u's picture

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

Fri, 03/15/2013 - 16:44 | 3333482 IridiumRebel
IridiumRebel's picture


Fri, 03/15/2013 - 16:53 | 3333506 syntaxterror
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!

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