Futures Open Down 15

Tyler Durden's picture

As we observed four hours ealier, the EURJPY-implied futures open suggested an immediate 15 points of downside. Sure enough, ES has just opened for trading some 15 points lower to start. Where it ends the overnight session, however, now that the NY Fed and BIS trading desks have both been called in for an emergency overnight session, is a different matter entirely.


"Risk" assets in general (as proxied by Capital Context's CONTEXT model) ended Friday notably divergent (and non-believing) from stocks... and now futures have caught back down...


It would seem equity futures are working their way back down to the level of risk T-Bills have been threatening. Cash treasury markets are not open yet but futures imply around a 2-3bps compression in yield - we can only imagine where T-Bill yields will break....


Charts: Bloomberg

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Racer's picture

No doubt a few middle of the night 'rumours'  of  'nearing a done deal' will be rumoured and re-rumoured

Haager's picture

Sell hgh (now) buy low (later). I don't think they'll present optimistic news first.

DoChenRollingBearing's picture

Futures prices for the rest of us:


(Doing my Good Deed of the Day, a ZH-er showed me this site a long time ago)

knukles's picture

Look at it this way....

Probability of any great astounding deal getting done looks pretty negligible.
Business as Normal Wins the Day

Meaning no cuts of any significance to federal spending so the " What budget?" deficit stays high
The economy stinks in spite of the pom poms... kinda like the ObieDontCare rollout... Just fuckin' dandy, Andy.  After all the Krugster says it OK
Mrs Yellin is Jellin to print mo mo-ney to keep the "What employment?" rolls expanding

So there's no taper, crappy economy, earnings misses, the Global Currency Wars have Yet Begun (Note my watershed comment earlier) and earnings is gonna fall way short of forecasts...

Stocks are very vulnerable.
Gold should start responding positively at some point and
Bond rates should ease back lower.

aka... Nothing's Changed!
Except the Son et Luminere Show....

fonzannoon's picture

If the Bernak keeps giving me so many opportunities to btfd pretty soon I will be fully invested and will have no fresh capital to deploy if.......oh shit.....

nmewn's picture

This may take 40 billion digital transfers from a unicorns ass to correct.

knukles's picture

Dammit nmewn, barry specifically told you on Lloyd's orders to make sure you'd mentioned the rainbow colored Skittleshit transfers.... whadda we gonna do witchu?

nmewn's picture

lol...I'm a hard case, they'll just have to work harder on it ;-)

I am Jobe's picture

How to con others



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jubber's picture

Gold and Silver already being smashed down from that iniitail spike

DoChenRollingBearing's picture



Every American should be stacking higher.

Some numbers to consider:

-- The 170,000 tonnes of gold work out to about 1 oz / capita (world)

-- So, each Earthling "should have" 1 ounce...

-- If each American has 10 x (approx.) average world's wealth...

-- then each American should own 10 oz of gold

-- But, if only ONE person per family (say three in a family) buys gold

-- then each responsible head of family "should own" 30 oz...


How many American families own 30 ounces of gold?

Haole's picture

Karen Hudes (ex-senior council at the World Bank, etc.) recently did an interview on RT in which she said there is a lot more gold above ground than many realize.  She indicated that there is 170,000 tons being held in the Bank of Hawaii alone.  This sounds outlandish coming from a highly credible person like herself so I'm wondering whether or not there is any truth to this, if it's connected to some kind of Yamashita's Gold "myth", etc..?



indygo55's picture

Yamashita's Gold was likely stolen by Marco and family years ago. There may be some gold in Hawaii and Hudes may have ment 170,000 ounces not tons. 170,000 tons would be around 12,376,000,000,000 dollars worth and a massive logistical issue. That's way more than what the Yamashita Gold conspiracy was about. I just don't see how that number (170k tons) adds up.

Racer's picture

China backing up the trucks.... vrrrrooooooommmmmmmm.......

max2205's picture

So many out of the money puts looking for a bid.....

One And Only's picture

Get to work Mrs. Chairman

wisefool's picture

EDIT: redundant see above.

I'll bet Chuck Schumer is burning the midnight oil to make sure everybody is happy, and the newbie (Yellen) knows exactly what she needs to do when she "gets to work"

jubber's picture

LOL Silver already negative now 

fonzannoon's picture

If they announce a deal pre-default PM's will be hammered.

If they default PM's will be annihilated.

If China announces it is dumping all it's treasuries and updating it's world gold holdings PM's will skyrocket.


hangemhigh77's picture

It's looking like China and the world are ready to take the US out.  War is coming people, it's the only card we have left to play.

knukles's picture

Whoa!  I still gots my EBT free shit card, Yo.
You go plays widyosef, muddah...

hangemhigh77's picture

I'm sure the free markets will open BRIGHT GREEN with the promise of a new more wonderful day and all problems are fixed.

pauhana's picture

Please tell me there's a <sarc> in there somewhere . . .

hangemhigh77's picture

Bernanke is in the basement with Mr. Yellin' training It.

Berstupid: "this is where you put the ink in. Load the paper in here. Turn on the power and press the green switch. You're done. Do this 24 hours a day, 7 days a week.I told you it's a hard job. Stay hydrated and eat a lot of protein bars."

Yellin': "What about my sex life?"

Berstupid: "That's disgusting. But if you actually do that, which I find amazing, there is a dog kennel out back you can keep your significant other in. Just don't be abusive. However, doing that with you is abusive to begin with! Please don't let anyone see they might turn to a pillar of salt."

Millivanilli's picture

As long as Zirp is in place and POMO is pumping, da "markets" don't give a fuck.   



SumSUN's picture

Bought silver.  Doin' fine and sleepin' easy.

SumSUN's picture

Eating lots of popcorn these days.

tom a taxpayer's picture

Futures likely to get better overnight knowing Miss McConnell will be driving Masters Reid and Obama.

shankster's picture

Nice to have plenty of beans in the basement.

q99x2's picture

FED set the indexes wherever they choose. Its a software selection.

thismarketisrigged's picture

s&p futures should drop 1000 pts and then we r close to fair value

Teddy Tenpole's picture



You have to admit that the scripting is quite clever.  Monkeyhammering futures overnight skews the risk/ reward for traders shorting the market.  The culmination of the weekend's fear mongering here  likely sucks in fresh shorts despite the clearly rigged tape signature.

Futures down 17, this is the crash! Marc Faber was right, I'm going short this f er!  I read 5 'articles' on how the system is going to crash any day now...

Do you boomer doomers trade as angrily as you blog?   ROTFLMFAO




akak's picture

Too bad your sociopathic bankster father did not 'go short' on your syphilitic whore of a mother instead of giving her the full Bernanke.

knukles's picture

Just put on a Great Paired Trade.
Long Anger
Short Serenity

Looking for a crash in optimism, surge of pessimism, lots of volatility and angst.

actually I don't trade anymore because I'd answered a buncha Kenyan e-mails some years ago....

Itch's picture

Stop beating about the bush and tell him what you really think.

Teddy Tenpole's picture



LOL, why so angry?  pumping up for your trading day?

It's just another angry boomer doomer douche manic Monday, I wish it was Sunday, 'cause that's my fun day, my I don't have to run day...  hey akak -- you need to listen to more chick bands from the 80's

(and not that I'm telling you what to do)

this one will get you into the vibe:



All Out Of Bubblegum's picture

When given the choice between losing out by holding devaluing paper or manipulated metal, I'll have to take the metal. I can get paper anywhere when paper returns to its original value.

Alpacanio's picture

Questionto ZH'ers... What's the chances of China dumping 10-30% of US treasurey's in the next 24 hours?

Jethro's picture

Hahahaha! Can you imagine MSM trying to spin that story? They'd pin it on the TEA party most likely.  

It's China's time. If I were them, I'd dump US debt too.

GrinandBearit's picture


Futures will be back to even by the open.

Julian's picture

It's so predictable anyone can make money out of this market.  Over next three days markets will be talked down by bankster whores looking for a short correction so they can take profits from the retails suckers, retail investors  will sell, DJIA willl fall rapidly (300pts just to make it  grab retail attention but nothin too serious?) then by Friday leading into weekend another rally where retail will comeback into the market - meanwhile wall street just continue to hoover money from the retail suckers not only on commissions but from their buy high sell low strategy.