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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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When the time comes to short, there won't be a market to short. We'll wake up one morning and the whole thing will have vaporized.
And those who perpetrated it will not be able to find a place to hide.....
Yes, that will happen one day.
Enjoy
http://www.youtube.com/watch?v=v5ckKeav2wo
EUR broke the neckline on its daily chart today. The next logical target is 1.25, even though the H&S Top MM puts the target at 1.24. Either way, its a 500 – 600 pips move to the DOWNSIDE.
http://wallstreetfool.com/2013/03/17/markets-in-turmoil-cyprus-bank-run-...
Initial target is 1.2675-ish, but I do agree on the rest.
about time....this was getting goofy
He this wall is comming down bit by bit...hang on to your arse'
This just in:
The Bernank telegraphed to his plunge-protect-bots (PPBs) to spring into action. Eye witness accounts say that PPBs seen flying out of their secret lair in the Grand Caymen Islands....headed for European bourses.
God help us all. They are our last chance.
No doubt by morning the PPT will have spun this as good news to the algos and 'market' will be green when we wake up
This is where things get messy. Europe will revise the terms once there are two days of panic, but the damage will have been done. I expect a reversal as CBs try to plug the confidence gap forming. Hard assets are everything - the only thing. Any accounts in weak banks (there are some healthy ones) should be closed, including in the US, or at least drawn to safe levels. It's game time people - I see <6-9 months to widespread unrest stemming from Financial Crisis 2.0: Germany Strikes Back.
Agreed Big problems always start like this. Expect Bernanke to kiss of death it by telling us it is contained. Greenspan wasn't worried when the Thai Bhat had issues either.
Bernanke's 'Kiss of Death' will be a most unpleasant suffering for him and his minions... It has been sealed...
Totally agree - the US will be forced to state this is a Europe problem, and no one will believe them. Did the US stress tests assume a possible widespread bank run? Nope.
"before i send you the money you need to send me some of yours first." this bailout coming from brussells or nigeria?
LOL - come to think of it, that's right.
exaccery
the europeans are demanding 6 billion (ok 5.85) and the russians to chip in the balance up to ten billion BEFORE they lend 10 billion to bail out cyprus
here's a clue
tell the europeans to fuck right off, convert 10% of the depositors fund to, oh i don't know GOLDDDDDDDD or investments in short dated bonds of companies like oil majors, or resource companies or drug companies and pay out the interest...holy shit..how fucking stupid are these people?
make the banks stop borrowing at 6% effing interest...jeeeeeeeeeeeeeeeezussssssssssssssss
Any word out yet as to how Russian mobsters are planning on getting their hard earned money back?
Cypress, my dear friends in TRUTH, is just the beginning. Omega will make certain that tears are rolling from hades (seat of all fiat banking) itself....
1 week lows... hmm.
Time to get the VXX short ready.
Once again....nobody can "invest" (gamble) in this casino UNLESS you have insider information.
You can't tell me that a whole bunch of people did not know this was coming. Of course, they are so honest and dedicated to we-the-people that they would NEVER take advantage of such knowledge.
Hold short, without margin.That is what no insider can refute. Patience is a virtue that will be handsomely rewarded...
Everybody knew it was coming, only the Machine knew when.
"Cypriot officials insisted no levy on smaller depositors was impossible. One senior Cypriot official involved in the talks said that because about 35 percent of all deposits are below the threshold, exempting them would mean a rate so high for the rest that it would no longer be viewed as a tax.
"If this is successful then it will be used in the future," said the dejected official, predicting Spanish and Italian banks could face similar levies. "If this is not successful then who cares about Cyprus.""
http://www.cnbc.com/id/100561018
So wait,
"One senior Cypriot official involved in the talks said that because about 35 percent of all deposits are below the threshold, exempting them would mean a rate so high for the rest that it would no longer be viewed as a tax."
9.9% is not yet theft, 14.9% would be? GET FUCKED.
"If this is successful then it will be used in the future," said the dejected official, predicting Spanish and Italian banks could face similar levies."
Due to the above, everyone in these EU countries with a sizeable EUR cash position in EU banks is shitting bricks right. this. moment.
P.S. Time slows down during times like these, it's only 23:40 GMT & I ain't sleeping tonight. LOL
Wake me when gold hits $1700... Later this week...
AHHA they finaly cracked the Nut....
The most important aspect of this story is that European leaders demanded this confiscation of deposits, not that Cypriot leaders approved it.
That said, the EUR/USD is down a teeny bit. So, I wouldn't be looking for fireworks at the open.
it will get pummeled by the a.m.
Im following this guy Forex Kong at forex kong.com - trading this like a mad man and making some serious coins. The EU Zone looks to kick off the downturn - as suggested.
http://www.forexkong.com
A rising US Dollar may keep Gold under wraps.
i cant wait for these assholes tomorrow on cnbc to make it seem like the reason we are red tomm is we ''were due for a correction'', and this is all it is, everything is totally fine in the economy.
maybe for once they can come out and speak the truth and say how this has nothing to do with a correction, but this is because people are realizing ( i dont know what took so long) that the entire banking system is corrupt and this whole system is going to fall apart, whether it starts tomm or in 2 months.
On twitter, I asked the man-looking chick if they were going to spin this. I got no response.
mean? you mean the cuban lady? huge bailouts!
Lets wait 2 months. The sale on my house fell through cuz the buyer lost her job the day of closing! Seems she is not a part of the recovery.
So, didja keep the earnest munny?
Ten cities where it's better to rent then buy...you'd be surprised!
http://www.nbcnews.com/business/10-cities-where-its-better-rent-buy-1C88...
San Jose, LA, Austin, San Diego, Portland, DC, San Francisco, etc.
Save the read. It's better to rent than buy EVERYWHERE.
Holy smokes! ES futures are plunging! If markets open this way in the morning, we are going to see levels on the S&P not seen since ... one week ago ...
ugh...last time i try to post a bloomberg snapshot...bleh...gold 1601, nikkei down 2.12%..pretty lame so far
Before noon Monday, Benny will ship about $20 billion over to Europe and the Dow will end the day positive. Benny will not let Europe rain on his money printing parade.
This will be "contained" by European close. By Wednesday, it will be even on the week.
By Friday, the markets will have shown a "glorious" gain on the week.
BTFD, STFR. WRR. (That last one is Wash Rinse Repeat. I expect you to know the first two.)
buy-the-f'ing-dip, sell-the-f'ing-rip, short-the-f'ing-republic in triple inverse liberties...
They should find a way to wrap all this up along with sickcare and life insurance... one big comprehensive insurance plan to save the economy.
I'm listening to Blur's greatest hits. I'm happy.
I'm expecting all the "smart sheep money" to flee and come to the American Dollar so they can be "Cyprused" here shortly.
KING DOLLAR. Some people don't have a printing press and they still have to pay their debts.
Time to toss in a cherry bomb:
Top French lawyer's body found near beach
C'mon, get yer tinfoil hats strapped on!