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Stocks Are Having Their Worst Day In A Month
Since Friday's holiday-shortened session, US equities have tried and failed to sustain the exuberance of the month, quarter, year. Volume is heavy but postive breadth is becoming narrower with fewer and fewer names leading the rise and the break in EURJPY is weighing heavily on the overall markets as stocks catch down to recent indications from bonds, the USD, precious metals, VIX, and credit that the Fed taper may be coming sooner than many hoped. And it's a double-POMO Day... get to work Mr. Henry.
The carry unwind continues to drag stocks down...
as the Pre- and Post-Thanksgiving pop has folded quickly...
Can you tell from the lower pane (relative volume) which days were sell-offs?
Charts: Bloomberg
Bonus Chart: Did the S&P hitting its Fibonacci extension level mark a technical turning point?
(h/t Brad Wishak)
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Losses cut in half(or better) by 1600
bet me?
good thing we didn't shake on it. All those protective puts just threw a little more fuel on the fire.
Amazon and Jeff Bezos going on 60 minutes to proclaim that AMZN would soon be delivering packages with flying drones marked the top of the insanity/absurdity for this cycle. How fucking out of touch can you get? I remember in 2000 it was being proclaimed that everyone in New York city would be commuting on Segways within a year too, and that coincided nicely with the top for the insanity of that market cycle. Can you imagine millions of hurried and worried people simultaneously going every which way on Segways on the sidewalks and streets of New York City at rush hour?
I made some good money today with my DJIA short I've been talking about this past week.
Long may it continue.
Sell - http://i43.tinypic.com/28ib6fk.png
Buy - http://i47.tinypic.com/2639f5y.jpg
Yeah, but then what?
Massive epic biblical horrifying terminal apocalyptic wicked bad implosion has just begun.
Oh, try to avoid walking near tall buildings for the next few years.
As always, being a silver stacker, I am available for moral support for anyone reeling from a shit kicking, or for tips on how to better take future beatings.
Right on cue. ZH puts out a negative mention on stawks and K-Hen "gets to work."
yep, the ZH effect, set your watch by it
and really, down 0.5% when Europe was down 2% show K-Hen was at work the whole time, or at least his well-trained Pavlovian minions were ...
Where is the graph of The Fed's balance sheet valued in BitCoins vs the S&P500. That's what matters!
Sold almost 30% of my winnings back last week just below 16k. Now I wait for the blood on the streets then pour the 30% right back in. What a sad game this is. Also did I not read somewhere that if the JPY 10yr rises by 100bps then 80% of tax revenue would go toward interest payments? Kyle Bass perhaps?
This is making my day.
Now it just needs to keep going down; -20% would be a good start.
Good call TD...pomo starting to kick in
I've got a trannie, a double Pomo and a midget to match your double Poma. I'll see your Krugman and raise you a Bernanke.
This is the second double POMO day in a row that has left the markets . . . unimpressed.
hmmm...where did I put that chart of December POMOs again?
Anyone seen Hugh Hendry?
everyone wake up this morning and realize obama is still president or something? what gives?
Hey Tyler, kudos for the "Fibonacci" & "Precious Metals" key phrases for the post.
They will have their revenge, eventually.
Is Pomo done for the day yet Mr feckin' Henry?
Gotta sell going into close. Probably get ass handed to meself, but its just too much immorality for one day.
How many petals are there on the Taper Flower?
Taper, no taper. Taper, no taper. Taper, no taper. Why the FED is forced to taper. Why the FED can't taper. Reminder why the FED is forced to taper. Reminder why the FED can't taper.
Was just looking at a chart showing the S&P is ahead of POMO. Is it just another taperscare rumor to pull the S&P back to in line with the FED balance sheet, to be followed by a no taper at the December meeting? Another, just buy the dip moment?
There are so many more fib extension levels above this one! We can hit them if we all just cover the shorts and buy! Lets do this!
Nothing to worry about, just another day in paradise, the FED is doing it's duty, move on.
Green tomorow no doubt