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Market Turmoiling As 104 USDJPY Support Cracks

Tyler Durden's picture





 

News that India may be folding on its capital controls had sent gold and silver surging this morning but following this morning's collapse in emergency claims benefits in the US (expected, but still shocking), precious metals are extending gains, Treasury yields are tumbling, and the USD is well offered. US and German stocks are also cracking lower (with chatter of a flash-crash in Germany's DAX). The more likely driver of all this weakness is that Nomura (or some large Japanese BoJ proxy) lost the 104 USDJPY anchor...

 

 

and trying to pin this on some fun-durr-mental news is pointless... this is why it's breaking...

 

Don't believe it?

 


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Thu, 01/23/2014 - 10:05 | Link to Comment fonzannoon
fonzannoon's picture

Okay people...do we have this rehearsed enough yet, or are we going to sit on our balls again?

BTFD

Thu, 01/23/2014 - 10:06 | Link to Comment the not so migh...
the not so mighty maximiza's picture

huh, don't we wait till the gold smack down?

Thu, 01/23/2014 - 10:08 | Link to Comment ApollyonDestroy
ApollyonDestroy's picture

I really can't wait for the crash. The suspense is killing me. All the useless and overly entitled uneducated darkies are going to start rioting and looting and it'll just be fun to watch

Thu, 01/23/2014 - 10:13 | Link to Comment Headbanger
Headbanger's picture

Through what scope?

BTW...  No more Smith & Wesson for Commiefornia:

http://www.breitbart.com/Big-Government/2014/01/23/Smith-Wesson-To-End-M...

Thu, 01/23/2014 - 10:13 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

The market is freaking out about the unemployment drop to 5.9% and double taper.

Thu, 01/23/2014 - 10:15 | Link to Comment the not so migh...
the not so mighty maximiza's picture

that must be it, but lower unemployment is good, makes no sense

Thu, 01/23/2014 - 10:17 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

Also Japanese tapering whispers...
http://www.zerohedge.com/news/2014-01-23/japanese-tapering-whispers-defi...

and sub-50 China PMI...

Thu, 01/23/2014 - 10:20 | Link to Comment fonzannoon
fonzannoon's picture

and U.S PMI...and...what's that Mr. Yellen? Moar QE? 

Thu, 01/23/2014 - 10:26 | Link to Comment TeamDepends
TeamDepends's picture

We need the deer, where's the deer?!  And a Bonus Chart.  We are singing Kumbaya around here and bouncing off the walls.

Thu, 01/23/2014 - 10:20 | Link to Comment DavidC
DavidC's picture

Yup, and by the time everyone's unemployed and has rolled off the benefits, unemployment will be zero percent. Hurrah!

DavidC

Thu, 01/23/2014 - 11:09 | Link to Comment Pure Evil
Pure Evil's picture

They'll come up with a new government statistics and call it Employed Unemployment.

It takes a lot of work to be unemployed so why not count it as being employed.

I mean you gotta collect your SSI, your EBT, your Section 8, and all the other benefits.

It takes a lot of work to get on these programs and walk to the bank to cash your benefits checks.

And, think of the long hours these people work at being unemployed. Would put an 80 hour per week piker in the private sector to shame.

The unemployed work at it 24/7/365.

Thu, 01/23/2014 - 11:28 | Link to Comment OceanX
OceanX's picture

I think the new emerging class will be called the "Leisure Class"  --At least, that is how I refer to my class standing.

Thu, 01/23/2014 - 11:28 | Link to Comment OceanX
OceanX's picture

I think the new emerging class will be called the "Leisure Class"  --At least, that is how I refer to my class standing.

Thu, 01/23/2014 - 11:23 | Link to Comment kodachrome
kodachrome's picture

Low unemployment is bad. It means the free money is over. The tail wagging the dog.

Thu, 01/23/2014 - 10:17 | Link to Comment LawsofPhysics
LawsofPhysics's picture

What utter bullshit.  Ballistics don't give a rat's ass about the shell casing, it is the bullet that is important and each pistol already leaves a unique set of markings on the bullet.  What a waste and blatant law to prohibit pistol sales.  This will work as well as any other form of "prohibition".

Thu, 01/23/2014 - 10:39 | Link to Comment enloe creek
enloe creek's picture

ouch thats gonna leave a mark

FH Herstal® Five-seveN USG is a 20-round pistol that fires a 5.7mm bullet that will defeat most body armor. Essentially, the FH Herstal® Five-seveN USG is a leap forward in handgun suitablity for close engagements delivering outstanding performance. The FH Herstal® Five-seveN USG has an extremely low recoil impulse resulting in virtually no muzzle climb, giving you fast and controllable follow-up shots when you need it most. Weighing 30% less than most 9mm pistols, the smoothly contoured FH Herstal® Five-seveN USG is comfortable to carry and quick to deploy. SPECIFICATIONS: FH Herstal® Five-seveN USG Manufacturer Number: 3868929120 Action: Single Action Only Caliber: 5.7 MM X 28 MM USG Barrel Length: 4 3/4 Inch Overall Length: 8 3/16 Inch Capacity: 20 Round Safety: Manual Grips: Polymer Sights: Adjustable Weight: 20.8 Ounces Finish: Black FN Herstal Five-seveN Pistol FN Herstal Five-seveN, 3868929120, Black, Semi-Auto, Full Size, 5.7x28mm, 4 3/4, Polymer, 20 Rd FN Herstal Handguns (Pistols) UPC: 818513002509 MFG ID: 3868929120

Thu, 01/23/2014 - 13:00 | Link to Comment Stock Jobber
Stock Jobber's picture

It's a bit large for carry.  But an awesome gun.  Very fun to shoot.  Pistol range may not allow, may have to shoot at the rifle range.  2000+fps out of the barrel depending on the cartridge.  Good times...

Thu, 01/23/2014 - 10:19 | Link to Comment IdeasRbulletproof
IdeasRbulletproof's picture

Assuming there will be no uneducated whities in the mix? When there's nothing left to lose, THEY lose it...

Thu, 01/23/2014 - 10:08 | Link to Comment Jannn
Thu, 01/23/2014 - 10:57 | Link to Comment mclant004
mclant004's picture

I am amazed that I havent seen any shortages yet.

Really hoping someone hasnt figured out alchemy. 

Thu, 01/23/2014 - 11:18 | Link to Comment akarc
akarc's picture

let it get a little dipper yet. Skipped a pack of cigs and bought 1 share tvix. WTF lose either way

Thu, 01/23/2014 - 10:07 | Link to Comment Headbanger
Headbanger's picture

OOOOPS!  Looks like BofAML was right on last week!

http://www.zerohedge.com/news/2014-01-13/bofaml-warns-usdjpy-trend-has-t...

Thu, 01/23/2014 - 10:07 | Link to Comment buzzsaw99
buzzsaw99's picture

hoping to watch levered equity bulls play Owe! Ouch? My Ballz! But alas, it will just be another -1% btfdotath opportunity.

Thu, 01/23/2014 - 10:06 | Link to Comment 101 years and c...
101 years and counting's picture

dont worry, fix it felix jr will fix it. 

Thu, 01/23/2014 - 10:08 | Link to Comment monopoly
monopoly's picture

Gold smack downs just do not work anymore. The sun is rising for us here and I would not wait any longer if any of you are actually waiting. 

Our turn?

Thu, 01/23/2014 - 10:14 | Link to Comment Spastica Rex
Spastica Rex's picture

Sure.

Thu, 01/23/2014 - 10:14 | Link to Comment TeamDepends
TeamDepends's picture

Can we have a hallelujah in the house!!!!

Thu, 01/23/2014 - 10:18 | Link to Comment Bearwagon
Bearwagon's picture

Keep calm!

Thu, 01/23/2014 - 10:21 | Link to Comment Rodders75
Rodders75's picture

Let's not get ahead of ourselves. Don't underestimate the Fed's resourcefulness. Or the bullion banks' desperate need for gold to stay low. 

Thu, 01/23/2014 - 10:10 | Link to Comment Sudden Debt
Sudden Debt's picture

NICE!

time to take some profit today on my gold and silver calls :)

Thu, 01/23/2014 - 10:11 | Link to Comment Sufiy
Sufiy's picture

Will Gold cut through $!270 this week - after that level we will have the real Fireworks with Shortsqueeze:

 


Jim Rickards: "The Fed Is Insolvent And Wants Gold To Rise Orderly" 


Jim Rickards discusses QE and FED 4 Trillion balance Sheet and its implications for the economy, US dollar and Gold. FED is insolvent if they mark to market their assets now. If economy is not so strong as they want us to believe FED will be tapering into the weakness with coming recession in 2014 as the result of it. It is possible that in this case FED will have to play down the Taper or ever increase QE again.   Today's action in the market is very interesting: Gold was Smashed-down from the all-important levels $1250 - $1270 after which Shorts will be burned, but Gold Stocks are not biting into this new attack and are holding well to the upside so far. It is the very important sign of the strength of the Gold market break out to the upside. http://sufiy.blogspot.co.uk/2014/01/jim-rickards-fed-is-insolvent-and-wa...

 

Thu, 01/23/2014 - 10:11 | Link to Comment ptoemmes
ptoemmes's picture

Ctrl-Alt-Launch?

Thu, 01/23/2014 - 10:21 | Link to Comment Bearwagon
Bearwagon's picture

No keyboard necessary! Just unlock the switch and push! (No joke)

http://www.flickr.com/photos/mike_s_etc/2425764977/

Thu, 01/23/2014 - 10:11 | Link to Comment LawsofPhysics
LawsofPhysics's picture

About damn time.

Thu, 01/23/2014 - 10:11 | Link to Comment praps
praps's picture

Baltic dry tumble continues.  Now at 1271

 

Thu, 01/23/2014 - 10:38 | Link to Comment new game
new game's picture

death cross gold/baltic

Thu, 01/23/2014 - 10:11 | Link to Comment ebworthen
ebworthen's picture

Flim and Flam the magical Unicorns will save the day soon!

"Friendship is Magic"!

http://mlp.wikia.com/wiki/Flim_and_Flam

Thu, 01/23/2014 - 10:13 | Link to Comment hugovanderbubble
hugovanderbubble's picture

I like that US  Inverted Curve by 2016

Thu, 01/23/2014 - 10:15 | Link to Comment Jason T
Jason T's picture

bought vix calls yesterday ..May expiration.. 

Thu, 01/23/2014 - 10:17 | Link to Comment fonzannoon
fonzannoon's picture

The day you see the market sell off huge and yields spike you can finally pay attention. Until then this is SSDD.

Thu, 01/23/2014 - 10:17 | Link to Comment BullyBearish
BullyBearish's picture

From FED: Dear Bears...this is it, really, no REALLY.  If you have any or your face left get in there and load up with everything you got, short the indexes, short NFLX, short AAPL, short everything...we need the fuel for the next leg up...this 1850 is turning out to be tougher than we expected

Thu, 01/23/2014 - 10:19 | Link to Comment buzzsaw99
buzzsaw99's picture

To the FAZmobile! (it has a penetrating rod built into the seat)

Thu, 01/23/2014 - 10:20 | Link to Comment hugovanderbubble
hugovanderbubble's picture

SELL SELL muhahaha

Thu, 01/23/2014 - 10:20 | Link to Comment endorush
endorush's picture

gold is up $15, the same price it was 2 days ago....

OMG GOLD SURGES!!!11!1!

Thu, 01/23/2014 - 10:22 | Link to Comment Dr. Engali
Dr. Engali's picture

When we have a disorderly sell off then I will be concerned. Otherwise this is just a trap to lure in some bears ahead of China's first "default".

Thu, 01/23/2014 - 10:22 | Link to Comment buzzsaw99
buzzsaw99's picture

disorderly? with that yellenator out there? and the crooks at jpm? rhinocerous? imposserous! [/cowardly lion]

Thu, 01/23/2014 - 10:39 | Link to Comment new game
new game's picture

dr?ya smelling deflat in that coffee...

Thu, 01/23/2014 - 10:29 | Link to Comment SAT 800
SAT 800's picture

Fear and loathing in the FX market. The FX price boards look quite different than they did yesterday; an "interesting" day.

Thu, 01/23/2014 - 10:30 | Link to Comment Yen Cross
Yen Cross's picture

    The 50 day avg.(usd/jpy) is coming up in the 103.10 area. If that goes things could really accelerate to the downside.

Thu, 01/23/2014 - 10:42 | Link to Comment new game
new game's picture

didn't you call this last week?

Thu, 01/23/2014 - 10:48 | Link to Comment Yen Cross
Yen Cross's picture

   Have my eye on the 101.50/60 area.

Thu, 01/23/2014 - 10:52 | Link to Comment new game
new game's picture

start planning nice  get away! costa rico?

Thu, 01/23/2014 - 10:35 | Link to Comment Fiat agnostic
Fiat agnostic's picture

I hope this is the ending with tears...

Thu, 01/23/2014 - 11:00 | Link to Comment Bearwagon
Bearwagon's picture

... go short, and at least you shall receive what you hoped for ...  ;-)

Thu, 01/23/2014 - 10:40 | Link to Comment eclectic syncretist
eclectic syncretist's picture

I can't fucking take it anymore.  I have to put in a sell order on NFLX at $400.00, even if it's just for one lousy share.  It's a matter of principle.

Thu, 01/23/2014 - 11:00 | Link to Comment Bearwagon
Bearwagon's picture

Bullshit! It's a matter of results - so don't.

Thu, 01/23/2014 - 10:57 | Link to Comment viator
viator's picture

Coming soon to a a market near you, the Hillary QE.

Thu, 01/23/2014 - 11:14 | Link to Comment Pure Evil
Pure Evil's picture

But, will the world stop turning long enough for the Great Lesbo to become the next POTUS?

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