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Goldman Summarizes Today's Carnage

Tyler Durden's picture





 

Well, they did predict this would happen, even if it was in direct contradiction with the numerator part of Goldman's top trade of 2014 which is being long the S&P500.

From Goldman's sales and trading team:

Equities off across the board with all sectors down and 96% of the SPX components closing lower – before today we hadn’t closed below 1800 since December 17th. Unlike earlier down days this year, today was very active and we had interest to buy/rotate names on the move lower. Telecom fares best, ‘only’ down 1%, while Industrials were down 3.1%. Good news is there’s only 1 week left to January. Closes: SPX -2.09 % to 1790.29; DJIA -1.96% to 15879.11, NASDAQ -2.15% to 4128.17.

The VIX up sharply +4.37 to 18.14.

USDJPY continues its pullback -0.85% today almost breaking 102 before stabilizing around 102.30 and AUD continues to melt lower -1% to fresh cycle lows. Day two of EM underperformance as TRY, RUB and ZAR all end more than 1% weaker and risk-off sentiment washed into other asset classes. EUR stable and nearly unchanged on the day, CHF +0.30%, and GBP -0.7%.

The rally in Treasuries continued with 10s closing another 4bps stronger and 2y1y rallying 4bps as well compared to yesterday’s close. Flows were light relative to the price action as it felt like most of the activity took place in futures. That said, we did see continued front end buying from foreign accounts along with short-covering from fast money. There was little interest to set new shorts. Next week the FOMC meeting will be closely watched.

 


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Fri, 01/24/2014 - 20:15 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

Where is the Muppet picture???

Fri, 01/24/2014 - 20:23 | Link to Comment knukles
knukles's picture

I tremble at the insights, the raw display of humility and intellect.
I stand in awe of oh fuck it why am I even thinking about some asinine commentary after the markets have closed that says golly gee wiz the markets closed like this today, Lordie lordie lordie, lah de fucking dah...

It's after reading something like this that I understand why crazy people want to take their clothes off in public and shave their nuts ...
Well, kind of ...

Fri, 01/24/2014 - 20:24 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

Why would the Muppet shave his nuts in public? Was he injured? Oh the horror. GS needs the Muppets to be healthy and buying.

Sat, 01/25/2014 - 12:22 | Link to Comment Richard Chesler
Richard Chesler's picture

"we did see continued front end buying from foreign accounts along with short-covering from fast money. There was little interest to set new shorts."

You hear that muppets? Everything's fine. Trust us.

Sat, 01/25/2014 - 05:58 | Link to Comment Tom_333
Tom_333's picture

At least they tell us in advance what they are going to do...

Fri, 01/24/2014 - 20:28 | Link to Comment Yen Cross
Yen Cross's picture

  Ask and you shall receive. :-D

  Kermit picture

Sat, 01/25/2014 - 06:27 | Link to Comment prains
prains's picture

thanks Yen, makes me laugh everytime.......maybe I'm just simple

Fri, 01/24/2014 - 23:24 | Link to Comment stocktivity
stocktivity's picture

I'm pretty sure Goldman still had a positive trading day.

Fri, 01/24/2014 - 20:26 | Link to Comment Boondocker
Boondocker's picture

I told my neighbor that 12000 would be the number next week...he looked like he was going to cry.

Sat, 01/25/2014 - 01:56 | Link to Comment Haager
Haager's picture

I see. I guess he cries on a regular basis after your salmons, right? 

Fri, 01/24/2014 - 20:31 | Link to Comment buzzsaw99
buzzsaw99's picture

The squid predicted a 3% decline. Astounding.

Fri, 01/24/2014 - 21:29 | Link to Comment Dr Benway
Dr Benway's picture

That's how these tealeaf reader anal-ysts roll. They'll predict something and in another place predict the opposite, then they can claim to be right either way. Hedging their shilling.

Fri, 01/24/2014 - 20:53 | Link to Comment SAT 800
SAT 800's picture

The Marketwatch headline writers finally got it together; the positive spin is: " You should welcome this market correction:". UH-HUH. right.

Sat, 01/25/2014 - 00:15 | Link to Comment migra
migra's picture

 I also smiled when I read that little gem marketwatch choked up. Fucking cheerleaders every last one of them.

Fri, 01/24/2014 - 21:16 | Link to Comment MarcusAurelius
MarcusAurelius's picture

I am as much a person of caution as anyone esle intelligent when stock prices are this high. However let's not get all excited shall we just because we have had one sell off. Truth be known we haven't even broke through the bullish trend channel that the S&P and DOW are in. In fact we aren't even clise yet. Even if we do (and that won't happen until about the 1725 mark) I won't be too eager to sell. I think that indeed we are due for a nasty pull back and for the leveraged idiots these small movements must be a little painful but for the intelligent trader they don't mean much. When you see only "up" for as long as we have seen it when you see a little "down" it can sure throw you off. Dollar to ralley strongly. Short the EURO at these levels.  

Fri, 01/24/2014 - 21:26 | Link to Comment fuu
fuu's picture

Bonuses all around that shuttered prop desk.

Fri, 01/24/2014 - 21:38 | Link to Comment stormsailor
stormsailor's picture

i've seen that chart pattern on the daily /es before, the famous dick dangle. if it is followed by a gap down and doesn't go up, it could turn into stampede little doggies

Fri, 01/24/2014 - 22:53 | Link to Comment I Write Code
I Write Code's picture

I'd be fine with 12000, I think a reasonable number even under ZIRP would be lower than that.

And if interest rates returned to anything like normal, ... well, the US deficit would soar so high that I dunno what the equity markets would do, but pretending for a moment, I think 9,000 to 10,000 Dow would be generous.

Sat, 01/25/2014 - 01:39 | Link to Comment Haager
Haager's picture

It's so easy to predict market behaviour on your behalf if you're part of the market-makers. 

Hey $gs and Dimon: Killing almost any TA-signals, breaking lots of supports and such is fun, right?

Sat, 01/25/2014 - 01:34 | Link to Comment are we there yet
are we there yet's picture

Now Yellin will forget about taper and pump up QE until the currency starts to fail.

Sat, 01/25/2014 - 03:36 | Link to Comment q99x2
q99x2's picture

Goldman Sachs is responsible for the carnage. Militaries around the world need to take action against them.

Sat, 01/25/2014 - 05:39 | Link to Comment shawnmike
shawnmike's picture

A tropical haven of natural beauty, the coastline of the province is skimmed by gentle coves and white sand beaches.Handmade leather jackets

Sat, 01/25/2014 - 07:02 | Link to Comment prains
prains's picture

dude, i think you spilt something on your pants

Sat, 01/25/2014 - 07:28 | Link to Comment Disenchanted
Disenchanted's picture

Hey Lloyd...

Fuck You!

Sat, 01/25/2014 - 08:30 | Link to Comment Quinvarius
Quinvarius's picture

Down another 30% and it will be merely very overpriced based on economic conditions.

Sat, 01/25/2014 - 09:07 | Link to Comment kenezen
kenezen's picture

After getting the word out at 1050 and later 1150 to be long, I wrote in my Blog and dated it in August of 2013 that 1660 -1720 one should take profit and exit I also said the market would go possibly higher then sideways thru the rest of the year and possibl;y into the first quarter of this year before going considerably lower!  I hold to that prediction. Lots of very good articles hedgemastermb.blogspot.com

Sat, 01/25/2014 - 09:31 | Link to Comment J J Pettigrew
J J Pettigrew's picture

Someday soon, being affilitated with Goldman Sachs will be similar to the red stain on a collar...( "dyed scarves had left a red stain on their collars," (China 1927))

By the simple fact that the malfeasance of the 07 debacle went unpunished, and perhaps even rewarded, a repeat is guaranteed.

 

 

Sat, 01/25/2014 - 13:17 | Link to Comment Atomizer
Atomizer's picture

Bait and switch

Do NOT follow this link or you will be banned from the site!