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US Stocks Slammed; Retrace Payroll Gains
But...we have a deal in DC?! As the safety bid in bullion continues (but bonds are fading), stocks are greatly rotating lower (sadly a 10 point drop is now 'epic' in our new normal world), retracing much of the post-payrolls (taper is a good thing) gains. Perhaps more notably, attempts to juice stocks with EURJPY are failing (for now)...
Retraced...
EURJPY not working.... But AUDJPY is...
Still think taper is priced in?
Charts: Bloomberg
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OK, boys and girls. We all know this dance. Time to BTFD. Blink and you might miss it.
Didn't this happen last time right before the "taper" was about to occur? And then it didn't?
Buy Gold, it's at 20yr support level - http://i44.tinypic.com/1twhvl.png
Sell DJI, it's at 20yr resistance level - http://i40.tinypic.com/2n9dylc.jpg
Buy Bitcoin, its at 20yr... oh, nevermind
The "Nasty Third Wave Down" I mentioned here last week is starting!
Hope you mooks GTFONASTFB !!
And fill some sandbags too! That means you too SilverRhino!
http://www.youtube.com/watch?v=OiY80JgB26Q
Nice video
Greenie for the Tin Hat Ranch.
I still wear a tin hat when it rains - when folks in town give me the raised eyebrow, I just say - "It doesn't leak".
They get that.
What goes up, must... er, go further up. That appears to be the mindset of the Federal Reserve.
10 points is slammed? Sometimes I wonder about your use of words, Tyler.
In the past few years, comparatively speaking of course, a 10 pt drop is getting slammed.
When you consider the fact that the market is rarely down more than a few points lately, slammed is probably fairly accurate. Oh how I miss te double digit down days on the S&P.
It seems like a lifetime ago there was a 3% down day
There is no getting away from what they have done to the "markets"...
You reap what you sow, keep stacking.
Well Good Doctor - Today Is Your Lucky Day - Dow. Nasdaq, S&P, and the Russel 2K are ALL down double digits as I type - 63, 35, 11, and 13 as I type. For once, I got it right and went from long to short about 15 minutes before yesterday's close - every dog has his day.
Read the paragraph moron. He qualified the term. This is a huge move in the new normal. Get going!
aw, just around the corner there is a great oil plunge comming so the market is cheap now bwahaha
But how will I buy my kid a G.I. Joe with the kung-fu grip for Christmas now?
A 'slam' is 8 S&P points (.4%)? I think we have lowered the bar a bit too much.
Careful about btfd. They are selling 4.5 billion in ipo's this week.
nothing more than futures rollover... ESH14 front month tomorrow...
My grandpa used to say its easy to climb to the top, the hard part is to stay up there.
Yup, if a slam is half a percentage point a crash I suppose is 3%.
C'mon S&P 666 and 10 Year at 6.66%!!!
S&P 666 will fail to hold and become resistance later in this decade
It is SO nice to have an optimist on the ZH list!
Hopefully that's the Fat Lady Clearing her throat.
The usd still can't get up off the mat. Asia should be interesting to watch later. If the usd strengthens and usd/jpy doesn't, that signals AXJ unwinding the yen carry, and things could go south in a hurry.
(It's probably just a setup for longs to give the shorts one more thorough fisting up the "culo" though.)
3,2,1 everyone shorrt gold and vxx! hurry before you miss the opportunity!
The beginning of the end or the end of the beginning?
There is no beginning, and there is no end - only churn.
OM.