Stocks Are Dumping As Biotechs and Momos Resume Drop

Tyler Durden's picture

Oh the dashed hopes... Just as we warned earlier... the dreams that yesterday was the dip to get back in and ride the waves of central bank largesse to another double in your favorite social media or Biotech stock are fading fast. Today is an almost perecect replay of yesterday's market action so far... pre-open Gold dump, JPY pump to sustain stocks at highs, spark retail bounce buyers back in and pros sell into strength as the "high growth" momentum stocks and Biotechs all reverse earlier gains in a hurry as all major stock indices are once again red post-Yellen.

From earlier...

everyone is asking: will it be deja vu all over again, and after a solid ramp into 9:30 am, facilitated without doubt by the traditional Yen carry trade, will stocks roll over as first biotech and then all other bubble stocks are whacked? We will find out in just over two hours.

Surprise!!

 

Which leaves all indices red post-FOMC...

 

USDJPY and stocks doing the deja vu all over again dance...

 

As "high growth" hope stocks tumble...

 

And Biotech plunges back to red...

 

Charts: Bloomberg

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slotmouth's picture

How is the most shorted index doing?  

Vampyroteuthis infernalis's picture

Bought a little BIS hope to make a little bling. Bitchez!!

TruthInSunshine's picture

Lululemon has a bottomless crotch. This is symbolic of the now 1999-circa level (greater given margin debt levels) froth.

Priceline, KING Candy Crush IPO, Salesforce & Chipotle, Oh My!

Thanks, Bernank!

VD's picture

it's past frothy and ready to pay shorts out in spadez...

PlusTic's picture

ZH post = low, ad infinitum

gjp's picture

Seriously, and this time stocks aren't even red.  Setting the floor higher and higher.  Stop crowing ZH, the fascists are still winning, those who believe in fundamentals are still losing.

Bastiat's picture

Dow's green, USDX is over 80, gold and silver capped--it's all good in Hollywood.

kaiserhoff's picture

Don't fight the Fed:)

Double sided knife.

Kaiser Sousa's picture

Free, Fair, and most effecient markets in the world.

im all in.

 

 

 

In Physical Silver....still stackin fo' realz......

BlueStreet's picture

Queue Gartman any minute now to say his aggressively bullish call yesterday on fast money was wrong.  

Cursive's picture

Wake me up sub-1790 SPX.

FuzzyDunlop21's picture

Mr Chairman needs to get his ass to work this morning

starman's picture

News flash!!!!

Im in Rancho Mirage on spring vacation. Friends wanted to join but were told place is all booked up! Well place is half empty!?!? Third day into spring break?!

Weird?! 

TruthInSunshine's picture

Priceline & Hotwire booked a big block of rooms that they hope
to unload online via suckers.

NDXTrader's picture

This is everything wrong with the world today. You are in Rancho Mirage on Spring Break and you are posting rental info on ZH?! Go get drunk and chase some tail, man

Cursive's picture

@starman

It's a mirage!  For realz!  Seriously, though, it could be that the place is half-staffed to accomodate lower demand and keep operatings costs in line with expected lower revenue.  Seeing this at restaurants all the time.  The company cuts staffing to help on costs, but I would think that the company would also take the extra bookings and let the additional guests fight for service.  So, maybe the rooms are for some large party later in the week or some Russian oligarch has the place booked?

Son of Captain Nemo's picture

Unrelated, but if anyone is still interested in the speculation still running deep on last Sunday's big announcement about Israeli' embassies closing world wide because of pension related issues of staff.

http://www.presstv.ir/detail/2014/03/25/355981/will-israel-kill-us-empire-this-week/

TruthInSunshine's picture

Interesting:

"Barbara Honegger, a former presidential advisor and Senior Military Affairs Journalist at the US Naval Postgraduate School, believes the Israeli diplomatic strike is just a cover story: "Because of the recall of Israel's Embassy and Consulate personnel worldwide under the guise of a wage strike – assuming this Reuters story is true – I believe Israel is about to go to war on Syria and Iran, which would bring in Russia, the U.S. and NATO. The Malaysia Airline'ssearch' is probably a cover for moving naval and air force military assets into place..."

Son of Captain Nemo's picture

And the worst part of all "the usual suspects" which by the way are all nuke capable are not in harmony with one another in "pulling whatever they have in mind" off!...

At this point you would have to find a new definition for the word chaos.

free_lunch's picture

Tylers should stop watching those doom analists:

The Economy Is A Complete Illusion And It's Ready To Collapse - https://www.youtube.com/watch?v=ovwkZIngLDk

 

TruthInSunshine's picture

It's spelled analysts, not analists, bot.

free_lunch's picture

bot? i don't know this word, what does it mean? (English is not my native language)

SheepDog-One's picture

There's no reason anyone has to play the FED's game at all, just because there's a rigged casino doesn't mean you have to play it. The only reason they can get away with what they do is the Rip Van Winkle cognitive dissonance stupor of the public.

Spungo's picture

So fucking bullish. I think I'll double down on Twitter.

jubber's picture

IBM up over $4 ensures the Dow doesn't go negative ...why is it up so much?

orangedrinkandchips's picture

quarter end....

warrenn buffet

soopy's picture

Lol. S&P 0.6% off its high and GREEN and poster creams his jeans. Talk about dashed hopes - for your doomsday scenario that for sure is coming any day now.

undertowed's picture

Just need the Russian invasion to ramp up again and we could see Dow 17,000 today!

TheRideNeverEnds's picture

Just buy the dip, it works every time.

HardlyZero's picture

I...keep putting on my shorts...and then taking them off again.   Getting tired.   When does the floor drop out on this ride ?

jubber's picture

IBM up now over $5, someone sure wants an up day for the Dow!