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Market Update: The Denial Unwind
That escalated quickly. Germany's DAX is now negative year-to-date (at 5-month lows), Copper is at 18-month lows, the bid for safety has driven 2Y Swiss rates under -10bps, their lowest in 3 months, and US equity markets are crumbling after yesterday's dead-cat-bounce. There was little to no pre-open ramp this morning, no EUR-levered pump, and VIX is not playing ball with the manipulators. Something changed; the denial is beginning to unwind. Gold and silver are modestly bid as we suspect physical demand bleeds back into paper. Maybe stocks are catching down to the 'WTF' reality (as we discussed here and here).
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BTFD!!
POMO!!!
For the love of God, somebody POMO!
<-----Kevin Henry is sick
<-----Kevin Henry is dead
If you aren't on a first-name basis with Kevin, or his bosses, then you probably shouldn't be trading this market.
Plenty of support at 1540, right Kevin?
Kevin?
Kevin!
http://www.youtube.com/watch?v=4DgbUBoxa48
Did he run Boston Marathon?
I am changing my password to: kev1nhenry1sdead!
Don't answer that knock on the door.
We need new temporary emergency measures!!!!
you mean PORNO right?
well... because we're all here to share our knowledge:
www.tube8.com
We're afraid to look. Last time we did it was a man, a nun, and a dog....
what's wrong with nuns having sex? before a cam I mean...
DO NOT LOOK HERE.
$#@%! Rick-rolled!
That's some sick, twisted shit, Spastica. I hope Tyler bans you.
"For the love of God, somebody POMO!"
Everything works until it doesn't. It ain't like people don't know POMO is out there yet they are selling anyway. Then again, considering what the banks did in 2008 that we didn't know about until.........
whats happening now that we do not know about? That gold slam down hurt somebody.
This article does a great job of explaining why gold has fallen 15% over the last week, crushing goldbugz and making silverbug lemmings cry:
http://www.businessinsider.com/why-gold-is-falling-2013-2
I asked SIRI why some people are morons and she said because they listen to you.
Finally she understood the fucking question.
Business Insider has a target demographic of moronic imbeciles.
@ MillionDollarBullshitArtist:
Let Gold fall. Half of the world's population loves the physical stuff, so the more it falls, the more affordable it becomes, and the more they buy.
They're strong handed, and only sell in emergencies, so it's a case of good money driving out bad.
So, falling gold prices are good for gold.
Stock crash = dead ahead.
Yes, I cant wait until the billion people of India wake up the richest nation on the planet.
Then I'm sure we'll have a good reason to invade them.
It'll be interesting to see how Uncle Sam decides to paint Hinduism as a cult of evildoers bent on world domination.
"They don't kill cows! They're gonna invade the US on cow-back! Get 'em!"
Nice to see you.
What are we going to do with $16 Trillion in debt?
According to Krugman - double it!
NO level of debt/GDP is too high to stunt growth. The Japanese situation is entirely sustainable.
Where's he been lately?
Hide it under the nuclear waste dump at Indian River near New York which was build as a temp. sollution about 40 years ago and is leaking dangerously?
Devalue and default....again.
+1 Cuz I've missed you MDB.
I guess you probably been busy beating old ladies' heads in with baby seals. Welcome back.
I gave him an up-arrow, too, just because I respect someone who is an unabashed asshole.
Now go kick some puppies, MDB.
That rates a solid "meh". You are slipping.
Come on for such a long time away you can do better than that. Your creative juices should be flowing right now.
MDBoner,
This silverbug isnt crying, This is a celebration of opportunity to trade more slave/Benny buks to buy more.
I will Never trade my loot for FRNs. That would be silly.
KNow this, FRNs will be toilet paper at some time in the future, if that time is when my grandchildren hold my loot, so be it.
For the record, sarc. It is really nice to see the dip buyers get their heads handed to them, if only for a few hours.
I wonder if BTFD is still valid strategy or prolly bernanka wants more short wood in woodstove to burn it little longer?
Is it just me or does this feel eerily similar to 2008? Markets are going to tank soon, I can feel it.
http://www.youtube.com/watch?v=ZS2Z19yTuPI
Is it just me or does this feel eerily similar to 2008? Markets are going to tank soon, I can feel it.
At the risk of sounding redundant watch oil. It is the tell. It was in 2008. Arabs will try and support brent. But won't be as effective factoring added U.S. supply since then.
I was sound asleep in 2008 but earlier this week in an effort to understand the absolute crush in metals I discovered that metals dropped 20% 1 month before the markets in 2008.
So you tell me, what is this 20% drop signalling?
This time they have no snappy newfangled solutions!
Dr Copper has been signaling for quite a while.
The markets ignored him, now PM's are telegraphing something truly horrible.
Exter's pyramid is way top heavy right now.
We need to know what the SBS is doing Tyler ?
This time Bitcoin precedeed PM crash LOL
In 2008 it was signalling that something was broken in the banking system and someone(s) needed liquidity... bad.
I suspect it's the same this go-round, in spite of the central bank money faucet. In 2008, they did their best to cover it up, but it eventually got out of control. I am sure they're doing the same this time, but given the magnitudes involved, whatever broke is probably bigger than Lehman. My guess is we'll know within a month.
Of course they're going to tank, when they figure they've pushed them as high as they'll go it will be time to take any fool that has money left in out. It's not unlike the metal crushing, just another way to confiscate wealth. Any idiot that has money in this completely rigged market deserves to have it taken from them.
Has retail re-entered the market?
so... EVERYTHING IS BECOMMING WORTHLESS IN ORDER TO PROOF THAT THE DOLLAR HAS VALUE!!!
makes sense to me...
what do you use to pay for drinks at the bar?
bitcoins
well then i guess your drinks just got more expensive by a factor of four
good move
So bitcoins are good for the liver, whodathunk that ???
At the bar I pay for my drinks with my pool playing.
Dollars, and alot more of them than ever before. I read an article last week that some places are charning $15 - $20 for a single drink!
I'm pretty sure you just made his argument for him...
Well, a few weeks ago we went to a place where they charged 25 euro for a beer, AND YOU EVEN HAD TO PAY EXTRA FOR THE LAPDANCES!!
WHAT THE FUCK IS WRONG WITH THIS ECONOMY!!
BINGO
I think the euro is pretty much done, this is the rotation to the $ from the euro big players.
When that is complete, Angie quits, and lights out for the euro.
That's my guess.
AAPL <GO>
dr. copper calling in sick again
Cue Maria to do an encore to last night's performance saying there is still room for the bulls to run. Come on Marie, don't let us down. Laughter is the best medicine.
ichimoku kinko hyo kijun sen
I agree
Stocks catching down to reality? Sounds way to good to be true.
Are stock markets about to crash too and follow bitcoin and gold in sympathy?
Yes, please.
They're just trying to shake money into stocks, make them fear alt. asset classes.
PPT man the laser cannons , cut our way to glorious futures!!!!!
Bennie to the rescue! When will we hear rumors of "additional monetary policy initiatives" or some such gibberish which means more printing of FRNs.
They just cannot have markets reflecting reality.
IMHO, the ACA will need to be delayed for 12 months, this is not helping the economy at all, in fact, it is hindering any chance at improvement. No or few choices on the exchanges makes the individual mandate moot. Plus every employer out there is getting ready to reset their workforce in a major way. If they go ahead with the ACA in 2014, then midterms will be a landslide against the Bamster.
sschu
"which means more printing of FRNs"
indeed. the helicopter drops are not over yet. have a feeling there's going to be more of an open "discussion" as to where the targets will be this time around.
Maybe stocks are catching down to the 'WTF' reality .....
tyler, i thought stocks were already IN the wtf reality................................
wtf for the better part of three years along with the wtf bogus earnings beats.
There is no reality Kito. Unlimited fiat has distorted all the markets to wtf reality.
Reality and stocks cross paths occaisionally - exept that in the new normal stocks are reality. Eating is something that other people worry about.
Great to see some true post-10:30 follow through to the downside, a rare event as of late, but you'll notice that even in this tanking the algos made their presence known: the 9:45 stop-running mini-surge likely tossed traders out who entered on the first 5-min bar (especially in the Russell, my vehicle). I was lucky and grabbed my safety stop and dragged it away in time to avoid being another nameless victim, but got out after the first pivot, thinking they'd never let us go another, but here we've blown through pivot #2 and are headed further south.
Perhaps after a few days like this traders can go back to trading short the same way they trade longs, rather than nervously looking over their shoulders, closing out on any green candles, however insignificant. Yes it's my fault for leaving much on the table today, but the 1Q behavior of the machines got in my head. Arrgggh !
Bring it.
German National Socialism, hiding as usual under a self-righteous,
over-industrialised economy without markets, and, once again, funded
by Wall Street, proceeds as usual to starve, enslave and rob European nations.
Flash Crash 2.0 coming?
betya a Morgan Dollar (at spot +6) it will be a slow grind into the dog days of summer with fits & starts, like one of those heart monitors on a patient in ICU.
SP & DOW record highs.... therfore, aliens. :D
Everything was goal-seeked back to all-time record highs, so now they can pull the trapdoor again.
If the SHTF my kruggerands may fall massively in value - I can accept that.
In the aftermath I might have to pay 1oz Au for a loaf of bread - but - I will still eat that day.
Buy gold.
What you have said is all well and good, and a stack is a good thing! But please consider how many super pails of wheat you can buy with one ounce of gold right now. If you prize storage and portability more, that is your choice and your right, and God bless you for thinking ahead.
Some of those charts look like an Excitebike track... Just saying.
3:45 Time for HILTHENTRASH to open is dirty mouth
I'm going out on a limb here:
With everything crashing around the world, do you think the 'powers that be' finally determined we're in a DEPRESSION!!!!!
wow. that really escalated.
time for a breather, now that we matched (spx) and pierced mondays lows (rut)....
shall we finish 'off the lows' today? to me she looks like another 20 spx down to finish this 'healthy correction'. -4.4% spx and -6% iwm. so far.
the battle for 1555 renews again!
turn those machines back on!
Gratifying to see that ma and pa 6 pack who got suckered into the market on the talk of all time highs (like those who buy power ball tickets when the jackpot hits $100 million... because, you know, $20 million just isn't enough) have gotten their heads handed to them once again.
COME ON KEV! Asia/Euro fade! This is the UNITED STATES OF AMERICA! We're a resilient people! You got to pull that bitch green for the sake of moral! Ain't no pressure cookers gonna cook this market!
S&P late 2011, top 1300 bottom 1150, first half 2012 top 1420 bottom 1260, second half 2012 top 1470 bottom 1340.
First half 2013 top 1600 bottom 1450, possibly 1350.
possibly 950
Not in the first half. But it´s way overdue for a major correction.
The world's commodity supercycle is dead, short aud, cad oil, copper, Hedge Fund/bankster Hotels (aapl,fb,amzn ...) ... the perceived safe-haven bubbles chf/ yen British pound, nok, gold ... unfunded liabilities, tax increases.
Euro flash PMIs on Tuesday, next week. This will get ugly, before it gets better.
We haven't even begun to print.
Is anyone here shorting the S&P or DOW?
positions in sh, dog, and vxx
i love seeing lines of red on my screen on goldman sachs, bac, and all the big financials.
aapl will be below 400 by days end, google falling, i love it.
im surprised banks are doing poorly, dick bove told me that banks were going to be a great investment and have phenominal quarters.
fuck u dick bove
Deposit guarantees dropping below zero in 3. 2. 1..