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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 us...as 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 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

OH THE HUMANITY!!!!!!!!

Fri, 03/15/2013 - 16:38 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Doomer
Doomer's picture

RELAX, THIS IS THE BUYING OPPORTUNITY OF A LIFETIME!  YOU HAVE TO BUY WHEN THERE IS BLOOD IN THE STREETS!

MAXIMUM LEVERAGE, FULL SPEED AHEAD!

(BULLISH!)

Fri, 03/15/2013 - 17:06 | Link to Comment fuu
fuu's picture

Hugo!

Fri, 03/15/2013 - 17:23 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Randall Cabot
Randall Cabot's picture

Paulsen predicts S&P 1700 by year end:

http://www.youtube.com/watch?v=xGZkP4fajMY&feature=youtu.be

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

> OH THE HUMANITY!!!!!!!!

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

Fri, 03/15/2013 - 17:28 | Link to Comment 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 | Link to Comment otto skorzeny
otto skorzeny's picture

video was as good as the song

Fri, 03/15/2013 - 20:36 | Link to Comment 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.

'ere.

Fri, 03/15/2013 - 18:50 | Link to Comment ImReady
ImReady's picture

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

Fri, 03/15/2013 - 16:25 | Link to Comment McMolotov
McMolotov's picture

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

OMGOMGOMGOMGOMGOMGOMG!!!!!!!!!1111!!!!!1!!!!!

*runs around, waving arms and screaming*

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

he who panics first does indeed panic best.

Fri, 03/15/2013 - 17:39 | Link to Comment 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 | Link to Comment random shots
random shots's picture

THINK OF THE CHILDREN!

Fri, 03/15/2013 - 16:32 | Link to Comment Martial
Martial's picture

LOL!

Fri, 03/15/2013 - 16:32 | Link to Comment Gazooks
Gazooks's picture

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

Fri, 03/15/2013 - 16:35 | Link to Comment McMolotov
McMolotov's picture

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

Fri, 03/15/2013 - 17:05 | Link to Comment Doomer
Doomer's picture

Blankfein and Co. own the children.

Fri, 03/15/2013 - 16:26 | Link to Comment Unprepared
Unprepared's picture

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

Fri, 03/15/2013 - 16:26 | Link to Comment 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 | Link to Comment Toolshed
Toolshed's picture

I think you are referring to Michael Burry.

Fri, 03/15/2013 - 16:46 | Link to Comment HD
HD's picture

You sir are awesome. Thank you.

Here is the ZH link for anyone interested.

http://www.zerohedge.com/news/2012-11-22/michael-burrys-reminder-after-e...

Fri, 03/15/2013 - 16:26 | Link to Comment 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 | Link to Comment 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 | Link to Comment HD
Fri, 03/15/2013 - 16:28 | Link to Comment trollin4sukrz
trollin4sukrz's picture

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

Fri, 03/15/2013 - 16:31 | Link to Comment tenpanhandle
tenpanhandle's picture

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

Fri, 03/15/2013 - 16:32 | Link to Comment trollin4sukrz
trollin4sukrz's picture

Get a conveyor belt.

Fri, 03/15/2013 - 16:49 | Link to Comment 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 | Link to Comment Shizzmoney
Shizzmoney's picture

It's all JPM's fault.

Fri, 03/15/2013 - 16:31 | Link to Comment 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 | Link to Comment Obchelli
Obchelli's picture

So BTFD

What is so hard there to understand?

Fri, 03/15/2013 - 17:33 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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.   http://imageshack.us/a/img841/5012/usdjpyi.png

Fri, 03/15/2013 - 17:23 | Link to Comment LawsofPhysics
LawsofPhysics's picture

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

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

  Next Wednesday is POMO free  LoP.

Fri, 03/15/2013 - 18:09 | Link to Comment 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 | Link to Comment Sach Mahoney
Sach Mahoney's picture

Something sad about streaks ending. 

Fri, 03/15/2013 - 17:17 | Link to Comment IridiumRebel
IridiumRebel's picture

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

Fri, 03/15/2013 - 16:42 | Link to Comment B2u
B2u's picture

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

Fri, 03/15/2013 - 16:44 | Link to Comment IridiumRebel
IridiumRebel's picture

THE HORROR
THE HORROR

Fri, 03/15/2013 - 16:53 | Link to Comment 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!

Fri, 03/15/2013 - 18:51 | Link to Comment Bam_Man
Bam_Man's picture

I've got bigger tits than her - and I'm in shape.

Sat, 03/16/2013 - 08:43 | Link to Comment Downtoolong
Downtoolong's picture

Wow Mila, what a coincidence. I just quit my job as a successful contractor for 30 years and at the age of 57 decided to become an actor and spokesmodel. Wish me luck.

 

Fri, 03/15/2013 - 17:18 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Yields on the ten year must never be allowed to get too much greater the 2.0 % for the foreseeable future. Print print print, occasional drop to keep that bid on t-bills and make things look "honest". LMFAO. BTFD.

Fri, 03/15/2013 - 17:24 | Link to Comment Never One Roach
Never One Roach's picture

With the GGWA, namely, the 'Gore's Global Warming Adjustment', the market actaully up by 32 points.

Fri, 03/15/2013 - 17:46 | Link to Comment sudzee
sudzee's picture

I'd like to see a dow/gasoline chart for the last 10years.

Fri, 03/15/2013 - 17:47 | Link to Comment Falconsixone
Falconsixone's picture

Doji the abandoned baby

hammers atop a ladder

building for the hangman

but without his Tristar belthold

he soon becomes inverted 

and thus his neck doth breakaway 

and through the dark cloud cover shown

poor Dojis gravestone

with hammer right beside

three white soldiers cried.

 

(They wanted to hang someone?)

 

Fri, 03/15/2013 - 17:52 | Link to Comment falak pema
falak pema's picture

the Mila Kunis Topless! 

Fri, 03/15/2013 - 21:24 | Link to Comment SKY85hawk
SKY85hawk's picture

I met a magic genie today, and he said he would grant me one wish.

 

"I want to live forever," I said.

 

"Sorry," said the genie, "I'm not allowed to grant wishes like that!"

 

"Fine," I said, "then I want to die right after Congress gets their heads out of their asses!"

 

"You crafty bastard," said the genie.

 

Fri, 03/15/2013 - 18:21 | Link to Comment U4 eee aaa
U4 eee aaa's picture

OPEX took precedence today. They had to deliver max pain to the front month option suckers. That should set up an interesting week next week

Fri, 03/15/2013 - 18:30 | Link to Comment adr
adr's picture

2012/2013 looks just like 2011/2012, which looked just like 2010/2011, which was a carbon copy of 2009/2010.

 

So the market is a video game being played over and over. You might kill a different guy at a different time, or walk down a different alley this play-through, but the game unfolds the same way in roughly the same period of time. Any which way you put it, the market is being driven exclusively by a computer that has been programmed to goal seek the exact same rate of return over the exact same time period year after year.

Fri, 03/15/2013 - 19:07 | Link to Comment Shizzmoney
Fri, 03/15/2013 - 20:31 | Link to Comment DowTheorist
DowTheorist's picture

Volume readings are bearish for 5 reasons:

 

http://www.dowtheoryinvestment.com/2013/03/dow-theory-update-for-march-5...

 

and updated here:

 

http://www.dowtheoryinvestment.com/2013/03/dow-theory-update-for-march-1...

 

thus, the odds favor a correction

Fri, 03/15/2013 - 21:55 | Link to Comment disabledvet
disabledvet's picture

March has already arrived Tylers Durden. LIKE A LION. As for Maria B gettin' us all hot under the collar (whew!) http://www.youtube.com/watch?v=NdjlOPBBGXE

Fri, 03/15/2013 - 22:28 | Link to Comment slightlyskeptical
slightlyskeptical's picture

You would think that one of these years someone would actually teach her how to put on her lipstick. She has ho written all over her.

Fri, 03/15/2013 - 23:25 | Link to Comment Joe moneybags
Joe moneybags's picture

How about a ZH Headline like "Bull Market Celebrates it's fourth birthday!" or "All major indices more than double in four years".  Rather, we get grasping at bear straws articles explaining why the markets really should have gone down, had the Fed not been printing.  But, the Fed has been printing, so why no "Don't fight the Fed articles"?

Sun, 03/17/2013 - 11:05 | Link to Comment Downtoolong
Downtoolong's picture

Shouldn't there be a rock concert or something to raise awareness and net $1500 to fight this horrible disease?

Maybe they could do a special tribute to Dow Jones at the Emmy's, or Maria B. could be a contestant on Dancing With The Stars.

Poor Lil Wayne was sooo upset over the news that he had a seizure and had to be hospitalized.  

http://wonderwall.msn.com/music/lil-wayne-recovering-in-hospital-after-seizure-1740248.story

Sorry Lil, that's what happens when you get your financial advice from a Mila Kunis interview on CNBS.

In other CNBS news, parishioners at the Cavalry Church outside of Detroit claim they have found a shroud in their catacombs with stains which portray images of Michael Jackson buying stocks.

 

 

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