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US Open Sparks USDJPY Dump - Stocks Follow
Last night's volatility in AUD (thanks to its aberration of an employment print) followed by more China data weakness has seen carry-traders shift attention back to EURJPY and USDJPY. This morning saw overnight weakness ramped into the US open to ensure media coverage proclaimed everything fixed but once the day-session opened, the selling began and stocks are down notably - tracking JPY tick for tick once again... Still believe in fundamentals and efficient markets - don't look at the chart below.
Oops...
Gold is stable - as are most of the commoditty complex.
The USD started weak but is rallying back as stocks slide
Treasuries ramped higher in yield into the open but have rallied all the way back since the open...
Chart: Bloomberg
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2008-2009 = Appetizer
2014 to ? = Main Course
1929 = Appetizer
1933 to 1939ish = Main Course
The PBoC, Fed, ECB, BOJ, BOE & other central fractional reserve temples printed TENS OF TRILLIONS IN FIAT over the last 5 years.
Now, watch it all burn.
stocks DUMP, DJIA down 0.20%. Ooooo the humanity
Nothing to see here... the correction is over. Just keep buying and getting rich!$$
-44 points on the Dow, yah, I´ll take much more notice when we are down 240 pts...
It's not about today or tomorrow. That's irrelevant. It's about reality catching down to the false delusions that the Casino has purposefully constructed.
This is a PROCESS that painting the tape can't hide for much longer, and as it inevitably plays out, the inevitable tanking of the equity markets will be the least of the average person's concern.
We're in the early innings of an Economic Depression. If the data that China finally released today didn't convince any particular person how gravely ill that the world economy is compared to the 2002 to 2007 period, nothing will.
These types of deep contradictions (historically significant) on the discretionary side of the consumption ledger have real meaning and are a real signal of morbid health.
TinS...
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Good article yesterday from one of the kitco regular contributors - note the 'scary parallel' chart pointing out and supporting your comment.
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'Capitalism, the bankers’ three hundred year-old ponzi-scheme, is a balancing act between the bankers’ credit and everyone else’s debt. In its optimal state, credit creates sufficient growth to pay society’s constantly compounding debts. When unable to do so, debt is paid by borrowing against future growth and in capitalism’s end game, aggregate debt exponentially expands until it can no longer be repaid except by exponentially depreciating paper money.' -D.S.
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http://www.kitco.com/ind/Schoon/2014-03-12-How-It-Will-End.html
the sell side conviction will be in the form of dumping USD's. like paul craig roberts said, they can buy unlimited treasuries but they cant buy up the currency once they start selling it. paraphrased
AUD/JPY roundtripped
the $USD is round tripped too. its about to break a major support zone @79 (H&S pattern) and move to 73ish. after that its anyones guess. doesnt look good tho.
TIS:
What the FUCK is with that lone down arrow?
The chart of the growth of US Dept alone is overwhelming:
This ain't gonna end well.
Glad I'm an old guy in the country.
Here is the reality for all those touting the 'new historic highs' in the stock market. The last 'high' before the 2008 meltdown was in 2007 and was 14093 on the Dow. Go to the inflation calculator and 14093 in 2007= 15899 in 2014. Dow is now 16216. Wow! What a great return, ... not. Also the inflation figure used is the stilted govt inflation figure. Imagine if you used real inflation numbers (see shadowstats.com) ......big loss.
-215 closeenough for ya DoChen?
Yeah call me when it drops for real...
2014 to 2034, I would think.
Actually, I would say that 2007 was the "Appetizer" year / period, you are talking about. I remember Bill Moyers inteviewing this lady, back in 2007, she saying that, 'There is a housing bubble that is going to burst soon. It is money on top of money.'
A year later, the bubble burst. Bubbles appear to be the signs of economic instability -- the wringing by the moneyed elites of the underprivilaged classes, to grab the remaining wealth and transfer it into the hands of the oligarcs.
Very soon, this country will be a plutocracy -- a corporate plutocracy. The fleecing will only continue.
http://en.wikipedia.org/wiki/Plutocracy
2007 actually was arguably the first year of The Bust for those who were watching: the two Bear-Stearns hedge funds that failed. That had repercussions that some were noting (Jim Willie, etc.).
Soon? It's BEEN here. Even Disney's Pluto knows it.
Bubble gum and duct tape are holding this farce together.
pods
closing all gaps as we drift lower. just waiting for the big intraday down move to really get things going. possibly today.
And then they will pump it up at the end,ain't happening.
of course stocks will crumble. its how wall st is able to slaughter all the sheep. get them in. get them in. get them in. it took 4+ years to finally get people to get in. now they'll drop the hammer.
When april earnings come out we might see things get really interesting. Oh wait fundamentals don't mean anything anymore.
Maybe the burst of the UK housing bubble might kick things off.
DUDE!
NO DUMP ON POST TITLES!!!
GOD DAYUM
When I see a couple thousand points vaporize then I'll pay attention. Until then BTFD.
Exactly- don't think, just buy... Obey.....
Low of the Day - BTFPost - Thanks ZH.
???? Market's been open for what, 2 hours now.
Down 70 points on the dow. Whaddayouwant, anyhow?
Idiot or Uninformed ?
This weekend I noticed plenty of 20 somethings driving Maseratis, Teslas and Ferrais.
What does that tell you?
Bubble. A cocky fucking bubble.
It tells you you are driving down El Camino Real in Silicon Valley.
This is exactly what is going to happen in the next week...a massive coordinated market smash where they will temporarily sacrifice the S&P because gold/silver is once again getting to lofty levels along with Oil which they never want getting to close to $100 or a little over. Same script they have been rehearsing for years...
Then presto chango they sneak the S&P up with the futures and HFT's on no volume mid day the following week or end of next week and hope the commodities do not tag along...happens EVERY SINGLE TIME WITHOUT FAIL
Yeah John, I've been noticing that too. I'm often rich on Wednesday, Broke by Monday...
USDJPY Daily - In last few months it's made a higher high and last week it broke out of double-bottom consolidation.
However, to fuel the ZH page-view narrative of 'oh no, stocks are collapsing', you keep micro analysing any red candle whilst ignoring the underlying long-term bullish risk appetite sentiment.
As soon as UJ goes below 100, there may be some veracity in these articles, but until then it's just vacuous google-bombing.
They'll pull the rug out when analysis shows returns on the present farce have diminished to negative. Position accordigly, you're dealing with pure lunatics here and they're certainly not going to give YOU advanced waning.
Full-retard market on massive doses of steroids and crystal meth.
The gold juniors are having another great day, if their chart continues to hold up we should be in for a good pop in the coming days.
usd/jpy 102.00 knocking at the door. ;-)
US/JPY 101.00 knockin at the door. :-)
just buy the dip, we will close this month green guaranteed.
its free money.
HVU, UVXY for the win!