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S&P Futures Plunge To 1-Week Lows; Gold Jumps To 3-Week Highs
Given FX markets are double-dipping now, it is little surprise that S&P 500 futures open down 16 points from the 1553.5 close on Friday - a one-week low. This is the biggest close-to-open gap down since May 2012. Treasury Futures just opened implying a 1.94% 10Y (-5bps) and 3.16% 30Y (-5bps). And despite the USD strength, spot gold just opened also up from $1591.95 to $1607. The arb against JPY carry is holding stocks for now... only another 8 hours until Europe opens... Over 38,000 contracts have traded in S&P 500 futures in the first 5 minutes ($2.9bn notional) - 30 times the average for a Sunday night... The initial dump was caught by a VWAP reverter but that is fading now... Japan's NKY looks set to open down around 500 points or so given JPY's strength.
The biggest Close to Open gap in 10 months...
Initial massive volume dump for a Sunday night, VWAP algos revert and now fading again...
Stocks open down to EURJPY, bounce a little on the catch up from carry...
Gold holding above $1605...
Treasuries...
and for now it looks like Japan's Nikkei 225 will open -500 points or so at around 12,000...
Charts: Bloomberg
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should be down 30 on the /es, such bs
Ben can close that 16 point gap in the first hour of trading tomorrow.
BANK RUN, BITCHEZ!
Gold should be up 10%, to $1,750 at least.
1 oz. gold bar was selling a few hours ago at €1240. It's at €1267 now. Maples went up by over 40 cents. Going to be an interesting day.
I've made a copy of the CLOSE to OPEN Gap chart shown above. What is really interesting is that if you go back to 7/25/11, that was the first time in LONG time that you had such negative gap, and look what happened after that...
ES went from 1299.25 down to a low of 1035.25.
That's a 20% decline in about 12 days.
This is going to be interesting.
Off the lows!
Lardassicus Muchacha
I like the analysis on ZH. But whenever gold or silver spike over a period of minutes, it's not always news. Many is the time we have seen the spike flatten out and a reversal an hour later.
No one should ever buy or sell PMs on a 30 minute graph.
Safe to file this under "non-event" atm.
Whats the spot price for Ammo?
"Out of Stock" :(
Would anyone be legitimately surprised if there were to be incident with Iran or North Korea right about now?
I'm not saying that there will necessarily will be such an event in the near term, but just highlighting what scummy f*cks the banksters that own the "elected representatives" and "appointed regulators" are and to what horrific degree I'd put nothing past them, and highlighting the extent by which they drive geopolitical "events."
Couldn't agree more. And it is the aspect of the impending collapse that concerns me the most.
LOL, the Dow is at all time highs and you wankers are circle-jerking to the "impending collapse." Fucking lulz.
Nominal only, dow is nowhere near all time highs.
I actually like that pr though, would've worked wonders for Germany in the 20s. "Great economic news; the amount of $ in people's wheelbarrows is at all time highs!"
Based on that comment we can say that water ain't the only thing here that's all wet
At least water knows how to flow to the ocean.
Oh dear. I've offended the Zerohedge groupthink. What ever will become of me?
Offended? Meh. You'll need to do better than that to offend us. Actually, your post wasn't that bad...reminder that not all is as it seems and to be careful of orthodoxies. Here or elsewhere.
<Flush>
No, you are just representative of the greater population at large. Baaaa.
Now that the Dow is at an all time [nominal] high (but off its real highs by roughly 45%), and have reached what looks to be a permanently high plateau, with a rock solid Bernanke Put beneath their foundation, that pretty much guarantees smooth sailing under nothing but Blue Skies from now on.
Nothing ever untoward happened after the Dow or any other equity index made a previous high (whether in nominal or real terms). Stocks for the long run; Dow 36,000 (published in 1999 and re-published in 2013), Virtuous Circles, Winners of the New World, and all of that...
Yellow by Coldplay
Indeed, what could possibly go wrong?
(Don't really know Coldplay so that was fun.)
I don't know ETF, seems like just another buy the dip opportunity. Me thinks open down 20 S&P, and close S&P flat to slightly up ...
It will al work out if we just talk.....
http://www.youtube.com/watch?v=W0uqLM1uj_k
Groupthink? You must be new here.
Timmay is that you?
Groupthink?
Read some posts. Thinking here is from all prospective. Plot it on xyz axis and you will see it all over the place.
As much I like to think that I consistent in my thinking I find myself taking different prospective depending on subject matter.
"the Dow is at all time highs and you wankers are circle-jerking to the "impending collapse." - And how much did that all time high cost again in new debt again? LMFAO!!! yeah, this can go on forever, troll harder loser. If the market is moving (up or down) we make money, that is what ZH is for.
I feel sorry for the poor bastards who had all thier money in fiat (paper) in Cyprus banks instead of physical PMs in their possession (or lost in a boating accident).
This is a good lesson. Some will learn. Many will not.
DIP BUYERS!!!!
NOW'S YOUR CHANCE!!!
It's just profit taking...
A great and wise man once said, 'When the blind lead the blind they all fall into a ditch'. Dat be YOU machineh.
Agree. I think this will get worse throughout the week. Negative headlines to dominate. They won't be able to stop the capital coming out of the banks. You can't talk your way out of that.
Futures, bitchez!
"Mkt" close for Monday: Dow -8; Naz -5; S&P -1
Love,
Potter & Sack
wow, could be a huge gainer for gold.
we all know the drill though, they will turn futures green somehow by tomm morning with some bs news.
like for example, the u.s banks did not go bankrupt from this, buy buy buy, that will be the story to get the market green
Please stop! Let me enjoy it, if only for a moment.
And down we go.... Like a Cypriot in heat..
Take this Euro Ship down!
Long Molotov cocktails!
Not until the gates are locked for the 2nd and 3rd class passengers.
If the grand Euro unification plan fails, it will set the one-world order/currency agenda back 100 years or 1.5 - 2 generations.
Expect that Europe's unification (economic AND political) will be defended to lengths we dare not imagine... My guess is that the former's failure will be used as justification for the latter.
No need. Just disrtract us with some deck chairs.
I'm fully prepared...
I would argue that anyone arguing that they are prepared, is merely arguing their lack of preparation.
To the moon Alice !!!
JPY is outperforming USD. Stupid fx crowd.
Japan is a capital exporter. Sometimes those JPYs go home.
My guess is that it's related to carry trade unwindings.
Yep, that whirring sound you hear are carry trades being unwound,... that, or Ludwig VonMises spinning in his grave...
japan is now running a trade deficit...sems like the five legged Kobi beef exports with green eyes looked way too suspicious
Isn't JPY outperforming USD every time when there's a huge risk-off event?
Yes, but given the BOJ's policies and the general conditions of that country it shouldn't do that any longer
Ever since D.C. proved to be complete clowns this has been true.
Spot price is a complete Con......pay attention to the bullion market.....that will be the test. IF they hold the spot too low.....they could pay a dear price in bullion loss to the east.......they will most likely raise the price to the next resistance then draw in some weak longs before they enter their paper shorts.....watch the 1630 area for a hit to the longs but if it doesn't break below 1620 then just above 1700 will be their next stand.
Gold spot price will likely jump tonight and tomorrow... And if they don't have it down hard by Weds or Thurs, erasing any gains and positive perception, we just may have something here. But don't get too excited until then, the cartel has weathered worse than Cyprus the past few years. Lower spot prices in the face of additional rounds of QE have demonstrated that much. Bear in mind that nothing about Cyprus diminishes the ability of the cartel to naked short the living crap out of paper PM.
Everyone knows the lid's gonna blow, the only question is if the time is now.
Below 1.29 we can just switch to EUR carry for the safe haven Dow.
all those cyprus ruskis now rrrrrrun to gold!
Too later for the Ruskis, bt not too late for us ... new bumper sticker ... Auat10K
please, bitchez ... the respectful term is 'Cyprussians.'
BARBARIC RELIC. barbaric relic.
There's a fucking huge gap down in the EUR$ at the moment - around 165 pips - Wonder if it will get filled today even partially. LOL
To find these kind of gaps, I have to use the 6-year chart and set my gaze upon July of 2008 - GET FUCKED!
The AUD$ getting filled rather quickly, 2 hours into retail and already retraced half.
:( nobody even had the chance to btfd
And what about silver?
Fighting to stay above 29. Gold needs to drag silver up. It's not going to surge on it's own.
The silver price won't rise until it is freed from unbacked paper. You'll see zero (futures contract default) before you see $50, I think.
No way! Silver LEADS economic growth! You mean that is no longer true? Or is this whole 'charade' the illusion of machineh and other followers of the fools such as him? Woe to him who blindly follows the fools in power...
But gold is up? How is that possible? It's a barbarous relic that central banks have been loading their vaults to the walls with! Why the fuck would I want any of that?
/sarc off
/fuck off
UPDATE: I just checked the stack and it seems that no bankers have shaved off 10% of it due to their profligate spending and vote buying. I'll keep updating as to my vaults integrity but I got a pretty good feeling those cocksuckers will be held at bay.
I like the '/fuck off' tag. That alone deserves the up arrow, although I agree 100% with the rest of your comment as well.
don't forget it's selection sunday. the cinderealla story tomorrow of the S&P breaking all time highs in the face of such adversity should be sufficient enough to cause several ZH users to commit suicide.
Fonz, you're cynicism today is so thick I could spread it on my breakfast toast. You're killin' me man! Up arrow.
I can barely take any more of this. Anyone seen boilermaker on here? I'm certain he went off the deep end.
We're cuddling now.
Just BTFD you fucking idiots.™
You too? I'm waiting for GLD to hit 2K then I'm buying shit tons of paper gold. I would not want to store it at home. I already lost my last bit of phyz to that horrible boating accident.
Tonight seems like as good a night as any to do some drinking. I figure I'm either:
A) toasting the beginning of the end of this shitty system, or
B) weeping for the fact that nothing will really change.
Whichever it is, Admiral Nelson*, much like the honey badger, don't care and will do his fucking job.
*Yes, I buy cheap-ass rum. Don't get uppity, I'm a frugal bastard.
"The dreaded Rear Admiral!"
-Millhouse
Up arrow for the superscript alone.
You remember that the GOOD and the TRUE always win in the end...
When has that ever happened?
I saw it on my TeeVee once.
Each and evry day if you are AWAKE!
Yeah I kinda winged that one hoping people would know where it is directed. Cheers!
Only downside is Paulson is probably sitting in his penthouse overlooking Central Park right about now with a huge fucking smile on his face.
Quick, grab a Libyan of Gypo wire-guided anti-tank missile, should be cheap and plentiful these days. I'm sure there would be no end of trained volunteers to fire it.
Not so fast gold bitchez! We have the 4am smack down. IF the 4am smack down doesn't work, we still have the 8:20am ET and the 10am ET selloffs, to get you back where you belong!
Don't worry we have a fed meeting this week, the plunge protection team no doubt have been given their orders in-advance.
I'm looking forward to the smack down already.
Smack-down season is over. 10% stolen out of your bank account over the weekend with no recourse is a concrete enough example for pretty much everybody to finally understand what 'no counterparty liability' means. The commercials and bullion banks know this, they won't even try to fuck with it for quite a while now, at least until the general public is frothing to buy gold at any price. Why do you think the spent so much effort beating it down over the past 3 months, and dumping their short positions?
PPT must still be away for the weekend
No, no ... kept it from going down limit so far. They are working overtime today ... wait, wait
Quote: "PPT must still be away for the weekend"
Yeah, they're working overtime in Cyprus....
Yea. Kissing whatever elitist ass they can uncover. No integrity at all within these LOSERS. They will die SOULLESS!
No equity Green on St. Paddy's day or on tomorrow's Green Day in Eurozone. The Reds rule the day (except in Cyprus)
Of course gold is up. Listen to this rant to see how people are reacting.
http://beforeitsnews.com/eu/2013/03/doom-alert-people-are-freaking-out-i...
Monday's going to be fun.
What I want to know is will the $3.5 billion pomo on Tuesday be enough to save the markets. After all we've seen the past few years, us bears shouldn't be so quick to declare victory yet. I won't be BTFD though.
Tuesday's POMO may just come early.
Yeppers, Benny's gonna be pumpin like a big dogs ass...lol.
Nice call Friday btw, Bear.
If ES struggles on Tuesday, it may be the perfect place for the Bear to start his move
yeah, after the fed pump if it doesn't hold could be a great place to get some short. that gap from jan 1 is 120 points due south. lol
Depends highly on what Ben spouts on Wednesday, but I suspect "NomoQE" & "Economy is improving" could be the main topics. Just in time for a EU-wide bank run.
http://www.youtube.com/watch?v=CWLb2F0MEoY
A brick in the wall has just fall.
Typical. Dump and pump and then dump and pump again. Make every short pay because they aren't on the 'team'.
But who would actually sell their SOUL to be on that team? Once sold it can never be bought again at ANY price. I hope they realize this TRUTH.
Wow. It's like I positioned my portfolio perfectly for this moment in time. I should photograph it.
You know it'll all be green by Monday evening though.
I can't decide which Frank Booth quote reminds me more of the EU:
“Gordon went right up to ‘em in broad daylight of course, cause hes the man, right? And he took all those drugs away. It was fuckin beautiful. Candy colored clown they call the Sand Man."
or,
http://www.youtube.com/watch?v=-7NitmzzZX8
i just skimmed thru hong kong newspapers. the deposit haircut in cyprus is no-news.
Hong Kong uh... An interesting report on Hong Kong... 28 square feet apartments for the very poor...
http://www.defence.pk/forums/china-far-east/238249-shocking-photos-cramp...
I can't believe they won't revolt and accept to live like this.
You ever been there?
Compared to being born and dying on one of those "junks" an apartment of any size is nirvana.
Well, if you count the bathroom (presumably down the hall), it's a 1 BR/ 1 BA apartment.
"And despite the USD strength, spot gold just opened also up from $1591.95 to $1607."
Whaaaa?...yes, futures...but...
Where did bitcoin open? ;-)
See Ben, no need for QE... just give very bad ideas to Europe and tell them it'll fix their problems = winning!
Alright, i gotta ask the stupid question, "What the hell is a VWAP Reverter?"
volume weighted average price
sum of (price N times volume N) divided by total volume
= mean reversion theory
yanno, when we all revert to being mean to everyone and steal their money
Ahhhhh. Thanks, I'm not from around here.
He's having you on, I think.
A VWAP reverter is what you need to decelerate from faster-than-light travel and re-enter the Newtonian space-time continuum.
Works for me, at least. Betelgeuse is nice this time of year.
Ahhhhh. Thanks, I'm not from around here ..... either.
Ben and Crimex are already pumping everything up. They stopped the slide first. Then they started pumping AUDUSD pair. Next will be /ES and EURUSD.
No worries - the Crimex led by Bernanki will steamroll individual investors as usual. What a great opportunity to loot money from retail investors and transfer the loot to JPM & GS.
Life is good for the chosen people doing the God's work.
We are in desperet need of Moar of your moneys now....Banksters.
i wouldn't short just yet. double dog betcha it will close that gap, then if it heads down is the time to short. the move has already come, and like somebody already said. will be gone by morning
Yep, they got an infinite supply of "digital paper" to make it all smooth out. Its a great casino...for the house.
Which brings us back to...why exactly does one pay taxes?
Bernanke must be shitting his pants.
You can bet teh bernank called this.
Better get the cardio crash-cart ready.
futes bogged down in the quagmire of the cyprus swamp
http://www.youtube.com/watch?v=pe7zCpIXu8M
I have Cypress hedges.
As you probably know, Cypress Hedges, a coniferous evergreen, were created in the midi-1800s when the wealthy banker Christopher Leyland purchased an estate, gave it to his nephew as a wedding present, and ordered a re-landscaping project that involved the planting of two Cypress species which, though located too far apart to cross naturally in the wild, ended up pollinating, creating precisely the hybrid species you apparently enjoy, along with many other happy homeowners.
In fact, the general spirit of the process Mr. Leyland enacted, whereby bankers throw money around frivolously and wait for us little guys to fuck each other whilst they profit, continues to this day.
In the event you were actually referring to misspelled loss-preventing financial instruments of Mediterranean origin, well then never mind . . .
You caught the pun.
May all the Mr. Leylands out there enjoy an ample hurst of hemlock.
Ah, an ironic Socrates reference (Mediterraneans causing their own deaths yet still considered scapegoats, etc.)-- Bravo ! You're obviously a gentleman and a scholar, and there are so few of us left -- everyone else will be BTFD-ing stocks tomorrow at precisely 10:39 a.m., just a few minutes in advance of the algos. No atomic clocks needed.
I have Benson&Hedges
Smoke'm if'n youse got's em
I guess they figered they got all the dumb money out of Gold.
I love this site, however the US markets will not go down. If they are down 150pts tomorrow they will be up 300pts on tuesday. No way Obama will allow these markets to crash this early into his second term. YOU FORGET HOW DUMB AMERICANS ARE. The MEDIA will down play every drop in the DOW. The 49% of people in this country would love to see people with money have it taken away from them.
I disagree. They are looking for an excuse to let the Dow drop. A crisis caused by " external forces" will enable him and his goons to consolidate even more power.
Yep, roll out the 'See, I told you it's the sequester, and the republicans" excuse, and let the media run with it.
Yep....time to harvest those margin accounts. Calling all combine harvesters!
This market has been aching to drop back to 200 day. On the way down people will sell, and then another rampapalooza when the big boys are positioned.
Pathetic.
It takes more than this. It takes bullets in elite brains.
When you see that, then the downmoves will stick.
Doesn't matter if electronic contagion freezes-up lending.
I just can't help myself. YOU, sir, are one of those DUMB Americans...
I hate to be in agreement with your post. DAMN
Ooooh.. 1 week lo-ooooows. Must be the apocalypse. not.
Europe open in the NY early morning will be the tell.
Thats the problem... nobody in this countrty has no Money.
If by money up mean nobody has any silver or gold then you would be right. There is a lot of debt based digital Bernanki bucks floating around though.
The great thing about nights like this is that the manipulation gets totally laid bare. There is NO FUCKING DOUBT left. Look at the volumes. Where the fuck is the massive selling coming from, except from the manipulators. No rational holder of PMs would be selling into this mess.
Hey CFTC, COMEX, LBMA how fucking embarassed do you have to be before you take action. Plenty I guess, cause money comes first over reputation.
Bankers are saying remain calm all is well
http://www.youtube.com/watch?feature=player_embedded&v=zDAmPIq29ro
Silver back down below $29. The Sheeple are listening!
I like gold longer term and this only reinforces the importance of physical, but if we get another round of bank runs and deleveraging, gold could drop with all assets like it did during the Lehman fall. Be careful piling on tomorrow.
ES will probably be down 20+ points once European Markets open.
Obviously gold holders are not paying their fair share.
Don't short this.