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Dow Crosses Below 200DMA For First Time In 2013
'They' said it could never happen... 'They' said to BTFATH... The Dow has now dropped 6.2% from its highs 14 days ago - the biggest such drop in 11 months and for the first time in 2013 has crossed below its 200-day moving average. The trend is no longer your friend it would seem...
Dow is at 14719 and the 200DMA is 14728.5... the 50DMA has also crossed below the 200DMA
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baked-in? bullish?
Fukk the Dow(n)
Every single piece of this market must be manipulated to keep the crust on this hollowed out mirage. Everything is going to hell and 8 congresscreeps get arrested because the most important thing to them is the immigration bill.. my god.. my god..
Actually it is more interesting that the moving averages are crossing on the downside. Not good for the bull case.
Moving average indicators are a shared delusion. They only have weight because sheep investors glom on to the herd mentality. A monthly, quarterly, or yearly moving average (based on # of trading days, not calendar year) might have some degree of merit, but 50 days and 200 days are completely arbitrary, and would have no value in a market of free thinkers. Anyone using them as an indicator is relying on the sheep. Got fleeced?
Some asshole furloughed the plunge protection team. He obviously had no idea of what they do.
Classified them as non essential!
Oh my GAWD, we are soo screwed!!
Ah, I see. All is forgiven, please, please come back!!!
Here, have some tea, let's be friends again, and of course you will be paid!!
Just go back to work, please, pretty please!!!
Hardly.. Support being broken at 14,760 ish allong with 200 MA should have sent DOW reeling downward 250 pts.. No No.. they are working harder than ever this week..
But then what happens now since all the muppets have BTATFH and none of the professionals want to touch this market with their own money??
The plunge protection team is heading for the soonest flight to Rio!
Turn the Machines back on!!! Turn the machines back on!!!
http://www.youtube.com/watch?v=dKYM62qSA_0
CNBC anchors just got the Tweet to apply the Depends adult undergarments.
But Sheepdog, you were supposed to tell them not to put them on their heads where they really belong.
Awkward! </funnybot>
Small battle won for common sense.
Larger battle awaits.
yup. yellen in the bullpen, finishing warmups. congress grandstanding to be "resolved" shortly. btfd peeps. seriously. and keep stacking, too.
The Twitter IPO will raise this phoenix from the ashes....NOT
Paper burns... Rome burned too.
Bullshit also burns, especially after it's dried out a little.
With the limitless supply of it coming from Vichy DC and Wall Street, you'd think the DOE would be looking into ways to harness this energy source.
Right on cue. ZH posts about new lows - Kevin gets upset - stawks bounce.
10 30 EST is the European Version of Kevin.
QE and Fed incompetence cannot move the mountain that a grain of mustard seed can. Playing for time; always playing for time. Politics is the bane of humanity.
50 DMA has crossed the 100 DMA bros.
the last time that happened the market went up 15%. throw the charts out the window.
No shit. These charts mean zero.
I quit watching the gold price last April when 400-500 tons were sold in a few hours. It's all bullshit.
Gold crossed the Rubicon then. Or something did.
I wasn't so much cross, just slightly pissed.
Is that the same as crossing the streams?
Just don't cross swords. Everyone knows thats a no go.
On the other side of the pool:
Mainland & Hong Kong Net Gold Import Jan-Aug 1154 Tons
http://koosjansen.blogspot.nl/2013/10/mainland-hong-kong-net-gold-import...
Don't worry- Its OK, buy with both hands! The guys that sell stocks say that this is one helluva opportunity and that there has never been a better time to buy stock! I seen it on the TeeVee.
Just like Jack Nicholson said to his son Danny on the drive out to the resort in The Shinning. "See? He saw it on the television!"
REDRUM
Maybe Danny had a vision of Bernanke printing and the resultant bloodletting in the streets.
And gold is back above $ 1300. The Bernank must have slept in this morning and forgot to set the printers on auto.
>> And gold is back above $ 1300.
Looking at the gold chart makes we want to go fishing for some reason.
Yawn, can ramp up very quickly.
People have been conditioned to buy the dips.
Holy Moly!
I dusted off the old tattered Dow 10k hat. Next Wednesday I hope it will be on me noggin.
Excellent news! I'd drink to that but I am already drunk.
DC area bartenders report huge amount of 'lawmaker' drinking binges this week....fucking sick, as they cut active duty death benefits and Amber Alert, while Moochelles website remains working fine. When are people going to stop playing games, and wake up!
it's almost as if....these people are in it for themselves
Awwww give them a break. After all they are just hard working slugs like the rest of us. They deserve to toss a few back for all that they do for us....being public servants and all.
Ugh....I think I just threw up a little bit in my mouth typing that.
They can pay aremed guards to prevent park usage. But no money to send out SS checks.
Not to mention giving a standing ovation to cops who pumped some unarmed crazy woman with a small child full of lead in order to supposedly protect their sorry asses..
Drinking binges happen everyday all day in DC
Yellin better start buying some shit.
I'm Jellen with Yellen will be the new BTFD.
Gellin' with Yellen. LOL
"the trend is no longer your friend"
indeed, so many trends have become my enemy
The Emporer has ordered it. National Parks closed and stocks down. The infidels must pay.
I double dog dare you. Buy the dip you shits!
6% whoop-deee-fricken doo.
(stawks) My nose is still bleeding and I can't take off the FEDoxygen mask yet.
Dow is still up over 10% yr to date.
Way beyond nosebleed and into skittle shitting unicorn territory, but someone forgot to feed sugar to the unicorn this morning.
My young daughter told me about a dream she recently had where she went to a place with rainbows and ponies and lollipops. Everything was made out of chocolate and, if you took a bite out of it, it grew back. It was just beautiful and fun, she said.
I told her there was really a place like that here on earth in NY. They call it Wall St.
Waste of space Tyler(s). As long as the mysterious hand of JPM keeps crushing Gold, the machines run the show - $500.00 says they bring it back AND ABOVE the 200 day before close. This ain't real till day 9. Oh look, back above already!!
Patience.
Yellen announced this afternoon.
Some kind of back door deal that will screw the taxpayer will be done.
Then it will be new all time highs just in time for Christmas and Hanukkah bonuses.
We can rest assured that the Ponzi will continue and not be contained by morality or ethics.
and the bots bounced it off of it... Try number 1....
Shocked that the bots didnt go apeshit on Yellen.... Stopped out of NUGT, still EDZ and TBT
I'm all shocked too! Yellen is the shizznit! Or so I'm told by the WSJ.
It's not time for the bots to go apeshit. Right now the meme to suck in more shorts is the "shutdown". The fact that the market didn't move on Yellen will only suck moar in.
agreed 100% Doc. They will get plenty of shorts in and they will be torched.
One would think that people would have that fact figured out by now. The "market" as a manipulated policy tool will never be allowed to correct to it's natural level. If it were allowed to correct the stampede out would be chaos.
How many people still even go short? Who says they don't want a little chaos right here and now?
Hah..when the chaos comes it will happen so fast that nobody will get anopportunity to react.
I was a tad worried about my longs yesterday, but today, business as usual. Up just over 3%. Just go with it.
Is Art Cashin still around? He's been very quiet. I miss his dow hats
He's still around. I've seen him somewhat recently in interviews on King World News and on CNBC on the trading floor. So he's still around.
Yippeee Yi Yippeee Yip Yippeee Yip Yip Yip.
Dow Jones hourly is looking pretty bearish.
http://bullandbearmash.com/chart/dow-jones-hourly-drops-channel-support-...
Hourly is certainly not defacto, but daily is looking about the same.
I'm now 100% cash.
Down 20 points. I can smell the fear in the air. This "plunge" isn't going to cause anyone in Washington to lose any sleep
As much as I am addicted this ZH, I sometimes wonder if showboating in the end zone, only strenghthens the resolve of the powers that be, You know they lurk here
End zone dance? That will come when this thing ultimately crashes in 5-10 years. If you've actually been trading based on the bearishness here then you are prob living in your Mom's basement. ZH is a great social commentary site and will ultimately be right, but trading not so much
I am scared shit, man.
Please help me blop!
Buy! Don't question! Don't rationalize! Just buy!
It needs a few sessions of closing below the 200 mDA.
Then they will tell you it is just a healthy correction. Yeah. I will have to agree at that point. It will be healthy for that damned market to absolutely meltdown. It will be even healthier if it almost dies in the process. After the poison of graft has left it then, maybe, it will be rebuilt on a solid foundation of trust and honesty. But I have always been a dreamer. I will not hold my breath and suggest you do not hold yours.
There will be no Debt Limit deal. But the market will be saved for awhile longer.
The FED will increase QE by purchasing MOAR MBS from the Government. They will accelerate those purchases so that the Government can refinance the Rollovers on Bonds without incurring MOAR DEBT.
The Debt Limit does not have to be increased. They will let the Federal Reserves Asset sheets swell with that Toxic poison from hell. Yellen is the perfect stooge picked for this. The price for the MBS from the Government will be marked up with extreme premiums reflecxting "the improvement of the Housing Market and increasing prices" BULLSHIT. There is no Mark to Market accounting anyway. Those securities are worth a Gazillion...
If there is a will to Fraud you can rest assured that the US Government and the Federal Reserve will find a way. Besides the prople will buy it. It is backed by the full faith (*cough*) and credit (*choke and gag with gurgling sounds) of the United States Government. They are the most...er...trustworthy (*death rattle) people in the World.
Just watch the Talking Heads on yer TeeVee Set. They will never lie to you. Naaah. They iz yer friend.
In the short term this will decrease interest rates and increase the USD Index. Gold will tank.
But the acceleration of QE (NO TAPERING) will lead to a quicker more profound collapse. It just is not going to happen for a little while longer. But it will happen. You can be assured of that. SO PREPARE ACCORDINGLY.
Yeah, Tom,
In my simplistic thinking, what is all this debt ceiling fuss about when the FED can just print up the money anyway? I think it will be interesting to see the latest scheme they cook up to print this deficiency, assuming that a deal to raise the debt ceiling "one more time" doesn't go through, although I think they will agree on something at the last minute.
People will just yawn, the markets may get a boost, UNLESS the the Pols go apeshit and pass a bill to begin siphoning off private sector peoples' IRA and 401Ks, etc...which is why I am glad I stopped contributing 5 years ago.
People who are government employed with government pensions may not get as alarmed, because they are so used to having everything provided the by the government in the first place, they will assume it will be there for them forever.
All over the so-called "free" World
Main Stream Media (MSM) is trying to fool People into believing that
Speculative Financial Ponzi Markets reflect the true Value of a Local and Global Economy!
however, Nothing could be further from the Truth!
Hopium as long as most "Consumers" are fooled into believing
"everything will be Allright".....it will be....it must be....Right ?
RIGHT !!!!!
because, we can fool some people some of the time,
and MSM will fool all the people all of the time...
and we all know how well that works!
signed:
Goldman Sachs, Madoff, MF-Global and the rest
of all other Ponzi Hedgefund Retirement Schemes
in the blue sky mining club.
wr;)
Durden aka ZeroHedge is wrong here . There is no "death cross": The 50 day SMA on the $indu is at 15201.67 and the 200 day SMA is at 14728. (Courtesy of stockcharts.com).
Dow now green for the day.
Carry on.
My former Broker claims that it's "almost always a good time to buy. Keep what you got and buy more on the dips. Dollar cost-averaging"
Bullish for his stats, pats and bonuses.
Don't worry, Yellen will take the appropriate measures.
Head and Shoulders pattern. Highly reliable. Min 1000 pt decline when the neck is breached (calculate the drop by measuring the height of head from the neckline). Again when a H&S activates this is the minimum decline.
But, but, but, because obama :-(