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S&P Futures Plunge Most In Over 4 Months Intraday
While attention was focused on the #winning (TWTR) and #failing (NASDAQ and TSLA and so on)... the fact is that the S&P 500 futures market saw its largest collapse from high to low intraday since June 24th. While the told-you-so dance seems so inappropriate, equity markets' dump - seemingly triggered by more than one levered JPY carry trader getting a tap on the shoulder after Draghi's surprise - merely catches down to credit market's lack of exberance for the last 2 weeks (though there is still more room to drop). Stocks are at 12-day lows by the close with very litle BFTATH'ers stepping in as VIX broke back above 14.00% (highest close in over 3 weeks). FX markets were insanely volatile with early USD strength obliterated by JPY and EUR strength in the afternoon. Commodities slid lower on the day and bonds rallied - with 30Y outperformance unwinding some of the week's steepening. Stocks closed on their lows with the best volume in a month.
While we realize the irony of pulling out the deer on a day when the market is down barely over 1%, this is what happens when a deranged Princeton academic is let loose and left in control of the capital markets...
Trannies are the most off their highs but NASDAQ is now the worst performer off the debt-ceiling lows...
And Homebuilders and Financials are underperforming (though discretionary was ugly today)...
Equity markets playing catch down to credit...
FX markets were bananas...
and Treasuries saw 30Y outperforming - flattening much of the week's steepening...
and as an example of the disaster in momo - TSLA is down almost 30% from its highs...
Well..
Charts: Bloomberg
Bonus Chart: TWTR Closees at all-time low...
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LOL! ....on that bonus chart. Tyler...you kill me, man.
The Deer and "That escalated quickly" both in one post? This must be the first sign of financial Armageddon.
It's rut season - headlights are the least of their concerns.
No disrespect but a victory lap after one down day? If I shorted the market after every time I thought we had peaked, I'd be broke. Oh wait - that explains it.
Exactly. VIX above 14? OMG RUN!
This is basically the return of normal market vol. Perhaps the tops are forming.
But the bottom is a long way off.
(Yet.)
Ummm...I can understand why the two of you would be skeptical about todays session. However, as of today's close, every last person who took on a long ES position for the last 11 days...is under water.
That is the biggest outside reversal day I have seen since...I cannot amember.
Engulfs many days. OK I see that now.
I agree, there's lots of signs that the bulls should be feeling a little nervous, at least in the short term. I do have complete faith in the FED stepping in to backstop after a little steam has been let off, though. As long as they can get away with it, they'll keep pumping this bubble.
Agreed. The FED will probably keep pumping this up after playing all mysterious and generating uncertainty with the "Are we going to taper?" to attempt some minor deflation.
Just needs to let the sentiment die down before the we start getting data saying we need to continue printing again.
Thank god, I took profits from my EUR/USD short.
It's all Bullshit!!!
WHAT DID I SAY, HUH!?
THE CRASH IS UPON US YOU MOOKS!
http://www.zerohedge.com/news/2013-10-28/dallas-fed-dumps-19-month-high-...
There it is!
Hail, Tyler Deer!
yessss!!! i LOVE the Deer.
I cant wait for double deer days! thats when shit gets real!
You can't beat the deer! Everyone was soooooo excited about TWTR they hardly noticed the market tanking until about 3pm. Makes deer even more relevant.
BUT I DID! Last week...
You ain't seen nothin yet!!
Love the deer, but the Bear Cavalry p3wns all!
sometimes he just goes tooooo far
I agree. Talk to me in a year or something. 1 day, that's bullshit and you know it!
Over.
Tooooo Far? You mean like the free market should just be left alone? hahaha.....
Its all just fine until it's not. Like the clip below....
VD, don't watch these 16 seconds.
http://www.youtube.com/watch?v=H0DevAxA42M
WTF Kevin Henry?
Only a few people were supposed to get the Oct labor numbers a day early but when there are too many, even Kevin doesn't have the fire power to blow it back to a positive number. Why do you think FINRA shut it down?
Record high euphoria days followed by record low days...just like the good old Weimar!
Thank God it's Friday!
That's the groupon deer.
I think this is the deer you are looking for:
http://gothamist.com/2013/11/07/deer_with_arrow_through_its_head.php
Whether is stock market crashes, electric car infernos, or radioactive trash islands, one thing is quite clear... ZH loves it some carnage.
As far as the markets go, I think that the idiots running our economies had to let out some bad press regarding the EUROZONE in order to stick save the dollar that was plummeting a couple of weeks ago. Now, they reap what they sowe a little bit. I'm no technical analyst but isn't what happened today what the market magicians refer to as a 'key reversal'? Does it really even matter anymore since they'll just fire some freshly printed fiat at the decline. Where's our PM rally?
We have deer sign! How I missed you, my headlight-frozen friend!
tyler has to roll it out every once in a while as a test. kind of like the emergency broadcast test. "this is a test. this is only a test. beeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeep"
Well hopefully the ZH emergency broadcast system will work better than the national one. The ONE time I remember when it would have been appropriate to use it (9/11), there was silence...
Man, they have control of your home phone. I was on the Hedge Monday and it rang with an EBS test message.
I hung it the fuck up.
They are a little too late calling about a "catastrophe!"
+1 for the Dune reference.
Perhaps we can refer to the poor creature in the headlights as Shy Hulud...
Why do I get the feeling this IPO will be the straw that broke the Camel's Markets back.
Speaking of volume. Noticing lower volume of posts here on ZH as well. The top is in when many ZHers have thrown in the towel.
TWTR still falling. Catch that knife, Henry!
Dear Tyler. Please put up the CNBC interview with this twitter retard on now. He said he bought 1,000 shares. They asked him what price he paid and he said he did not know or care. Hysterical.
Keep telling ya. Money is worthless. Nobody gives a shit about money when lending rates are near zero.
Thank you jebussssssss !!!!!
'Deranged Princeton academic'....heh heh.
My favorite deer is back!
PLUNGE is a bit too extreme a word to be used today. this was more of an orderly trending grind down.
Nah just a 'glitch' mate.
BONUS CHART!!! EVERYYBODY LOVES THE BONUS CHART
as i was scrolling down, i was thinking "oh please let there be a bonus chart" LOL
http://www.safehaven.com/article/31717/the-ecbs-tough-balancing-act-bubbles-vs-deflation
Today, a small group of central bank chiefs can meet in private and wield unprecedented power over global markets, economies, and wealth distribution. They are held accountable to the ruling politicians that in most cases have no respect for the principle of sound money. Instead, in Europe, the UK, Japan, the US, and elsewhere, central bankers have become intricately linked to monetizing government debts, and financing the expansion of the welfare state. As such, disciplined and independent central banking, a cornerstone to any hope for sound money and credit, has been relegated to the dustbin of history.
Central banking, - ostensibly designed to combat high levels of inflation and promote economic growth, while overseeing the stability of the banking industry, has instead, morphed into technocratic planning boards that are constantly involved in rigging the value of the financial markets. Their principal modus of operandi is to encourage risk taking in the local stock markets, through massive injections of ultra-cheap liquidity. However, the result isn't better economic conditions, but rather the expansion of massive bubbles in various financial markets. In turn, central bankers have widened the wealth gap between the owners of equities, and the rest of the struggling population whose wages are sliding backwards, and is increasingly seeking out assistance through welfare programs.
Historically, the value of the stock market reflected the dynamics of the local economy, and would influence the social mood of the populace. A stock market that is booming would signal an up-and-coming economy that would be followed by increased business investment and the creation of good paying jobs. Rising share prices boost the fortunes of about 10% of households in the country, and triggers a greater propensity to spend for goods and services - otherwise known as the "trickle down" effect. Therefore, keeping a constant vigil on the behavior of the stock market, - has become the raison d'être of central banks.
In earlier times, stocks traded on the local stock exchange used to track or even anticipate the nation's business cycle. But that reliable role as a leading indicator began to seriously break down after the financial crisis of 2008. Since then, because of the hallucinogenic effects of "quantitative easing" (QE), - stock markets are no longer reflections of the health of the local economies or forecasting mechanisms of the business cycles. Instead, they are just slices of ownership in specific companies that are unreliable gauges of anything but the underlying strength of the companies they represent, their dividend payments and buybacks, and the schizophrenic mind-set of the traders who buy and sell the shares.
"....Central banking, - designed by the few to rip off the many and establish World Hegemony!!
That is a big ass technical break on the daily chart. I would not be surprised to see it open much lower and keep going in a real market. But this turd is so propped it is a joke. We shall see. But that is a serious break.
Big POMO tomorrow... But yeah, a lot of charts in FX, momo's and indices look seriously ugly.
TWTR all time low...lol, you have a knack for hyperbole.
Perfect timing. Sell stocks, buy bonds. Take some froth out. Get a little vol back. Fear of Jehovah. Etc.
Never gets old.
Still maintaining, if only for political reasons, that we get some sort of tapering action before Coach Dean Smith takes the rein at the Fed.
You think the S&P crisis is bad?
My mates just been on the phone near crying. He has been well conned. He's just bought a three foot long by two inch wide roll of velcro for £95 sterling.
I honestly believe, he's been ripped off.
Con-men, you just can't trust them.
:-)
Next I'll explain the Dollar...
https://hiddensecretsofmoney.com/blog/the-biggest-scam-in-the-history-of-mankindhttps://hiddensecretsofmoney.com/
http://www.youtube.com/watch?v=VSg5yZvnJf8
http://www.federalreserve.gov/aboutthefed/section7.htm
There is no such thing as the Pound Sterling anymore. Don't believe me?...try turning one in at the local central bank for a pound of sterling silver. It's more like a Pound Steaming Pile now.....
Jack,
Joke,
^^^^^^^^^^^,
Chill.
;-)
time too sell your dollars, sit in your underground bunker eating canned beans with the wife in the dark
'sit in your underground bunker eating canned beans with the wife in the dark'
time for photophobic asphixiation ? sounds overly cruel.
Time to buy Yuans and bury them in a tobacco can out back!!
I think I will order some Friday.
Haven't seen ny Hindenburg omens posted recently. Have they all popped??
Hindenburg is hyperbole. When this sucker goes down there won't be any "omens". It will just happen. Today's action however should scare the shit out of everyone who still has a dog in this fight.
I think we hit a turning point, a permanent one.
I saved the TWTR chart so I can repost it when the muppets are BTFD at $15.00-20.00.
Man, I love living in interesting times. I may very well get to see the downfall of modern civilization in my lifetime, how awesome is that?
May you live in interesting times.
Stop cursing me, it's not nice!
I've become very fawned of that deer.
I still prefer the green Kermit puppet muppet.
The deer is cool, though.
Deeeeeeear Prudence....lalalala
The idiot box proclaims Twitter went up 72.69% today, but I see the opening price was $45.10 and the closing was $44.90.
I'm trying to find where this mythical $26 price exists, but I can't find it. Some article says that Twitter was offered to the market at $26, but the first shares were bought for $45.10.
$26 represented the value the underwriters thought the first shares would sell for.
SO Twitter actually fell on the day.
$45.10 is where the sucker money came in......$26 is where the elite got to buy in early.
Yes, but EOD print was $46 and in AH this sucker is way down well over 2%. Then they corrected the print and it shows it's only down fitty cents. Assholes.
PM and AH sessions are a way for the big boys to paint the tape however they wish, uber illiquid. If someone has size to move, they certainly won't do it before or after the close. On that same note, very easy to move a stock to where they want it to be so that when it opens, they can unload or scoop up in size. Equity trading (at a bank) 101.
$50 is where Wall St insiders were told it was safe to monkey hammer the sell button.
ose nose, not the deer picture, for the last 4 years that means to go out and buy stalks.
buy the deer pic, btdp.
The deer is back, but Twatter IPO deserves the Deer AND the dead muppet photo!
@ lakecity I think this is the muppet you're looking for.
Close, but it is the one Tylers have with the kermit laying up on a curb all spread out dead. I saved a copy, but cannot post it.
That is a good one, though. +10!
Well time to go from BTFATH to BTFD in the globally coordinated currency devaluation.
Gold (paper) got the shit slammed out of it, too.
Must be encouragement for people to abandon the "relic" and buy into Twerker.
Gold (paper) got the shit slammed out of it, too.
Must be encouragement for people to abandon the "relic" and buy into Twerker.
Funny stuff... Lake
Each time I catch someone making distinction between paper and physical I ask them whether they'd buy my stash at last summer's prices.
Let's just say, I'm yet to sell an ounce.
BTFD!!!!
FIZZ, Bitches!!
The end of the beginning or the beginning of the end?
Both
The deer reported that Santa had levered up up all the childrens toys, and then rehypothecated them 100 times again just so he could buy Twitter today @ $50/share...the deer hopes he still has a job, even after Santa made him part time and cancelled his health insurance.
[I]f Iran can (will negotiate in good faith, vis-a-vis the TPTB?) agree to a cease-and-desist regarding it's Nuclear Proliferation Program {(NFTreaty via IAEA ( Int'l Nuclear Energy Agency http://www.iaea.org/ )} satisfying P5+1 (France, England, U.S., China, Russia,... and Germany +1) by late Friday (11/8/13) evening in Geneva... it will be a historical time for the ME and what's left of a free (???) world!!!
The caveat is Israel's BiBi and Saudi Arabia's BandarBush? Zionist married to Salafist ( Wahabism, Sharia Law) nutjobs!!! Who would`da thunk?!?
The talk is Pakistan is arming the Saudi's with nuclear warhead missiles, and Bibi about to do a pre`emptive strike! The rational from (Sunni Mecca, Wow!) Riyadh is --- if Iran can have a nuclear program, we can have a ready made nuclear weapons arsenal. And... Israel's argument is just bullshit, because they control everybody in congress (AIPAC) their (Jerusalem) country should decide America's Foreign Policy as Israel and Saudi's have been doing since 1913(?),... telling/ dictating to President Obama what to do!?!
Obama says 'WTF'! Bibi is vociferous and hyper bellicose regarding siding with Riyadh and showing their true self to the entire world... (?) as, what lies deep in their black-hearts, these two ego-centric religious fanatics are worse than the 'Devil himself' in the Flesh!!!
Go Iran... and Go USA/ Obama
Obama gets a high-five from me if he can make it happen, period!!! JMO
ok,... 1, 2,...3 downs begin
In honor of Twitter maybe you should have replaced the deer with a turkey ;)
Who killed Bambi?
We have not even begun to see volume..when that occurs this ponzi is going Lehman ludicrous speed..every asset price you see is fictional . I'm curious as to which Big bank is the next sacrificial lamb..no accounting tricks, Zirp left in the quiver.
Explain away TARP 2 to the tards because it's coming. The beauty is going to be the gap down future limit for a straight week..see you later HFT ping pong for the past 2 years..
Oh these are the real stock valuations? Running out of reserves to add to the bottom line so time to break the gentleman agreement set back in March 2009 and finally sell..who sells first..
All we need to know is the free markets will again be the scapegoat.. Anything but central planning..
Wake me up after the unemployment report tomorrow. Either someone(s) have the number early or this was an option shakeout before launch
ndx has it nailed. No way that this was real.... A 200k jobs report tomorrow. ha ha... More like a 100k and up 3% tomorrow. Market totally overlooked Draghi going full retard today...
Nugt was a steal today.....
somewhere ther's a stripper twerking her twatter to buy some twitter, tweaking her twerks and twitting her titters.
Today was pretty damn bullish IMO, now that we have shaken the weak hands out with this small correction and have the bears in the trap we can goose them up above 1800; the only real question is will we print 1800 before thanksgiving or must we wait till DEC?
After all 1800 is a given, bonuses all around.
And then once Yellen takes the helm she will at least doubles QE, this market is just beginning to get its legs under it. For comparison we are today where we were back in NOV 1995 if any of you remember that time, if not look at a chart, this party is just getting warned up.
My price target for is /ES 2500 by this time next year.
BUY BUY BUY