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European Stocks Collapse Most In 7 Months; Spain's Worst Week Since Sept 2012
Think it's bad in the US (which it is), the high-beta momo-chasers are running for the hills from Europe's best-performers. European stocks are down 3.4% this week broadly - the worst week since June 2013 and 2nd worst week since May 2012. Spain and Greece are the worst on the week (-5.8% and 6.7% respectively) with Spain's drop the largest since September 2012. Bonds were not unscathed as Italy's sovereign bond spreads have jumped in the last 2 days by the most in 4 months and are now wider on the year. Europe's VIX has exploded 30% higher in the last 3 days (the biggest jump in 10 months) to its highest since October.
European stocks tumbling...
and bonds in trouble the last 2 days...
and Europe's VIX is exploding...
Charts: Bloomberg
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Surprise! Whoda thunkit.
Stupid IMF, dont they know all they have to do is print MOAR to fix it.
Just send me a $1 trillion coin and I will fix it, the primary brokers had their turn.
Much of Europe's problems are already built into the price. It's the BRIC countries where the prices are going to have to readjust.
Awesome. Fuck Europe. Hell fuck China too.
Get to work Mr. Yellen.
Couple of more days like this and the market should have a bunch of shorts who piled on just in time for old Yeller to make his debute.
why is this still so hard to understand?
For some reason we still have a bunch of people in this world who believe we still have a stock market. I had lunch with four of them yesterday.... Amazing.
I had 2 appointments this am. Both with couples who explained to me that this market was completely fake, and both couples made it clear that we were to get them moar invested in it.
I'm getting that pressure too...not good.
I love hearing about this; it validates that we're in the momentum phase of the stock market; like Willey Coyote we're just waiting for the inertia to wind down.
I'm just glad I don't have to listen to that sort of unwelcome client input. We were stepping back last year already, as I've mentioned here before. Plenty of dry powder looking for an entry point. I'm hoping for a real gut-wrencher to give it to me, but I doubt it's going to be that easy this year.
Funny how everybody wants in on the con, right up until the instant they discover they're the mark.
pretty much. Me and Doc have two choices . Roll with it, and Mr. yellen
or
http://www.youtube.com/watch?v=rb7FgSzeGqg
Waiting for elevator, watching cnbs. "doesn't look too good today" said the guy watching also. "I think it's time to buy moar."
Good luck I said.
It reminded me of Joe Kennedy's shoe shine boy moment.
Exactly.
Were they still wet behind the ears, or old enough to know better?
Better yet, are they voters? (as that will explain everything)
All four of them were successful business professionals who have been around for quite a while.
It is amazing, isn't it? their really is a mass mind. That reminds me of trying to get middle aged business people to buy silver at $4.35/oz.; no deal; impossible, go away and don't bother me, you're crazy, etc. etc. ONe of these men actually opened a conversation with me by saying, "I wish I could get in on the bottom of one of these big bull markets"; so I told him he was in on the bottom of a big bull market, it was just a different market. Most of these people don't even know there is any other market but the Stock Market. His reply, ?. "No, I mean a real market". It's really amazing; basically human intelligence is way overrated.
can u blame them? Zirp has eliminated the bank. They took gold out to the woodshed while spanking Bill Gross's ass in public. so they have pretty much eliminated any and all alternatives to the almighty SPY, while the fed has made it clear they will support the market.
So now it's just a matter of how long the show goes on, and it seems like it will be a while.
maybe its just me but i'm seeing a whole lotta shit that needs a double flush...
then again maybe just that delusional wish/think shit that needs a flush outta the brain...
YES! Keep going.
Don't worry, with the amateur interventionists out of the way later this afternoon, liberty ave. and whore street will manage a rally - or at least a stick save to keep dow above 16K
Maybe the Central Banksters and other cretins assembled at Davos decided it was time to pull the rug out? Certainly no one expects them to with everone certain it will all go right back up again higher than before within hours, it would be a great time to do it.
More like "let go" of the rug that is already being pulled in all directions.
At some point the ROI of maintaining the ponzi goes negative, and they will let some prop collapse (with appropriate scapegoats lined up in advance).
My guess? The next upcoming "debt ceiling" debate in DC, as CONgress is the perfect group of fall guys/gals. Crash the system, and use it to further fuel divide and conquer just in time for mid-term elections.
We need to taper more regardless what happens to the fucking markets.
Taper another $25 Billion. Please. No sarcasm. I am serious. The madness needs to stop.
Eric Holder threatened to prosecute Corporate Officers of Large Financial Institutions. Read that on Bloomberg. Do not hold your breath that it will happen.
Wouldn't it be nice if he did?
Obama does not need their Capital anymore. So what if the Banksters colluded and collapsed the economy in retaliation. That is Obama's plan anyway.
That would be a good picture...Jaime Dimon in handcuffs.
But I am dreaming of Justice where there will be none.
Certainly they can't present the 'solution' without the problem and reaction...things have been quite comfy ever since the last fear and panic events 5 years ago...it's about time certainly.
I agree...what better way to reduce the wealth inequality than crash every asset class?
Umm. "You cannot un-taper." Nor will we. This "thing" is flying apart in all directions..."and they're meeting in Davos"?
I think the folks con-fabbing in Brussels have understood this a whole let better insofar as Over There is concerned.
Not everything is getting crushed today.
http://seekingalpha.com/symbol/MSFT
It's only a 300 billion dollar market cap company. Nobody's probably ever heard of it.
Europe closed, time to ramp equities.
NFLX down $2 YAWN
Tesla at $175. Damn these rational markets!
It doesn't matter, up or down, you can always make some profits, especially on days like these... and if you do, just swap it into physical bricks...
If you like your Union you can keep your Union. Or - bring your pitchforks to the burning barricades. Straight up choice.
"Run Forest, run...."
Too bad it's Friday. I could take week of this. Several weeks of this. Crash back to reality, please, and get this idiotic, highly destructive neo-classical economics experiment over. It should have never started in the first place.
Meanwhile the controlled sell-off in US equities is just that, completely controlled, and ready for the late day ramp. All while they go mad for bonds. Whatever, don't think anyone's jumping from windows on Wall Street just yet
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