This page has been archived and commenting is disabled.
High-Growth Hope Stocks Hammered
30Y yields are now over 10bps below post-Yellen spike highs as growth-hope-driven US equities were monkey-hammered in another pump-and-dump deja vu day - with one difference - no late-day bounce to provide solace for the bulls. The Nasdaq and Russell 2000 are down over 3.5% from Yellen; Biotechs broke to new lows (down over 14% and below the 100DMA); momo names were slammed (FB) as King IPO's and lost over 15% on the day. The Nasdaq and Russell have joined the Dow in the red year-to-date, S&P and Trannies barely positive. The USD lost ground on the day after early strength. Gold, silver, and copper fell notably. VIX jumped from 2-month lows to back over 15%. USDJPY was sin charge all day - and broke below the key 102 level into the close.
Reasons? take your pick...
- Ugly durable goods data - bad news is good news?
- Good Markit PMI Services data - good news is bad news?
- French jobseekers record high
- 5Y auction big demand
Or simply put - carry unwinds on the heels of China's weakness
Dragging everything to unch YTD (or worse)
30Y yields dropped back to near 2014 lows back to July 2013 levels...
with 10s and 30s trading back under pre-Yellen levels
Biotechs battered
Indices slammed post Yellen led by the high-beta names...
As momos are crushed...
Gold, silver, and copper sold in US session...(again)
All sectors are now red post-Yellen (including the new leaders that everyone cheered - financials)
As Financial stocks tumble back to credit...
Charts: Bloomberg
Bonus Chart: The King is dead...
- 6498 reads
- Printer-friendly version
- Send to friend
- advertisements -













enjoy the correction. spx 1500.
This is no correction, it's a collapse.
By gum, it's a flight to "quality"!
Flight of the Dumb Money.
Thank you Candy Crush, the straw the broke the ponzi's back.
Long live the King!
And yes you just know things are a bit "frothy" when there's clowns dressed up as candy on the trading floor.. I mean seriously.
The King is dead! Long live the King!
How are the 'most shorted' doing?
Not well, B.J. Not well.
C and BAC news AH in addition to momos getting slammed seem to be a legitimate beginning to the unwind. Could this be THE correction? Actually starting to feel like it.
Go ahead, your turn to cry wolf. Just remember what happened to the last kid that did that.
Summoned or not, the god will come.
Consider yourself encouraged.
Wait a minute.
So since HFT is 60% of volume EVERY SINGLE DAY . . . you're saying the HFT guys have been instructed to let the S&P be red for the quarter and YTD the next three market days?
Really? That's your call?
You think they have that much control?
They cannot control and take profit in the same move. At some point they let it go. Even if the plan is to take it back up, they still have to let it go down a bit.
Watch what happens. Someday, it will just go. That is when the destroyer crawls out of her cage.
If it wasn't end of the month/quarter we would likely be down a few percent more. I see they are already starting to move futures up...again
yep Russel and Dow now positive 5 points and 35 regained already, from the last few days I guess the Dow will be up 100 points from that close by the open as it has done all week,...S&P has now recovered 4 points, flat or better by the open?
Oil is $100+, and each day this wrap up fails to mention the most important -- no -- the ONLY important asset.
Though on second thought that can be excused, since the denominating dollars don't mean anything in a $60 billion per month printed world.
Hey fellas. You gotta remember that there are a whole bunch of 'GENUINE' Bulltards out there that think we are in a 'Secular' Bull market (e.g. James 'Commie Fed Worshipper' Puplava', et. al). ThisRideNeverEnds is probably loading up on some momo stock as I write. Truth is, the PINKO COMMIES can hold things together for awhile longer. Add that time to the idiotic BULLTARDs buying (Altucher, Jeffrey Saut, Ralph Acampora, etc.) this could go on for a few months. By summer all will be in the RED...
No shit. It looks like someone balied big time on their FaBookAmazaGoogaTweeTesla fund:
Facebook Down 6.94%
Amazon Down 3.19%
Google Down 2.31%
Twitter Down 7.21%
Tesla Down 3.39%
u ok?
Dow has now bounced 50