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US Open Sparks Sudden Serious Stock Sell-Off

Submitted by Tyler Durden on 04/04/2014 09:50 -0400

Another day, another pre-market pump and post-open dump... it seems a missed jobs number and a determined Fed is not a recipe to maintaining all-time record highs and hyper-growth expectations...

Seems like the USDJPY carry traders were on to something...

Charts: Bloomberg

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Fri, 04/04/2014 - 09:51 | 4624623 digitlman

SHIT SHOW

Fri, 04/04/2014 - 09:56 | 4624657 wallstreetapost...

Plunge Nasdaq... plunge... once King TSLA falls the market will crumble. I love that everyone is walking around delusional. Makes it so much better looking from the outstide.

Fri, 04/04/2014 - 09:58 | 4624671 zerozulu

Maybe today is the day.

I start my day with this feel, everyday.

Fri, 04/04/2014 - 10:09 | 4624703 derek_vineyard

that was a serious selloff.

Fri, 04/04/2014 - 10:09 | 4624705 eclectic syncretist

The bot operators are busy worrying about whether or not they should be covering their tracks or getting out of town right about now.

Fri, 04/04/2014 - 11:54 | 4625050 takeaction

Tylers...You need to lighten up on the headlines. Really? "Plunge" Are you fucking kidding me...a few points is a plunge...come on. I come here for the truth and accurate stories...Please do not enhance these titles to ridiculous levels of SCREAMING...whne it is nothing. Thanks.

Fri, 04/04/2014 - 09:51 | 4624625 JJSF

Dont think it's done yet. 1914-1921

http://signalinea.com/1914-this-week-or-1921-next-week-es_f/

Fri, 04/04/2014 - 09:51 | 4624626 Max Damage

BTD mother fuckers, and you just know they will!!!

Fri, 04/04/2014 - 09:51 | 4624627 fonzannoon

we really need to define "serious". I vote "serious" is 100 points off the S&P

Fri, 04/04/2014 - 09:52 | 4624634 Max Damage

1 weeks gain then

Fri, 04/04/2014 - 10:08 | 4624700 Cursive

@fonz

It doesn't get serious for me until we see a 12 handle on the SPX.

Fri, 04/04/2014 - 10:18 | 4624733 spastic_colon

same thought....that's where I see any real "fair" value for the near bottom of the capital structure

Fri, 04/04/2014 - 11:17 | 4624923 bonderøven-farm ass

What's a '12 handle'....?

Fri, 04/04/2014 - 11:28 | 4624949 Cursive

Anything in the range of 1299.99 to 1200.00 SPX. It's a colloquialism/slang. Nice avatar.

Fri, 04/04/2014 - 11:42 | 4625007 disabledvet

three standard deviations i believe.

Fri, 04/04/2014 - 09:53 | 4624638 Dr. Engali

Meh.... Gap fill

Fri, 04/04/2014 - 09:57 | 4624645 Ignatius

I'm OK with another Great War to get us up and out of this mess, but we need to talk with more specificity about how we're gonna share out the loot.

Fri, 04/04/2014 - 09:55 | 4624649 soopy

Hahahahaha... 'serious'. Serious?

Fri, 04/04/2014 - 09:56 | 4624655 medium giraffe

Aw FFS, we were SO CLOSE, I really thought we'd nudge 1900. Now I'm gonna have to wait until 3pm.

Fri, 04/04/2014 - 09:58 | 4624672 Ness.

The lows are in. ZH assures it now. BTFD and enjoy your weekend.

Fri, 04/04/2014 - 10:06 | 4624694 PlusTic

every-fukking-time...like clockwork

Fri, 04/04/2014 - 10:11 | 4624710 Ness.

It's been happening for months. Whenever ZH posts a bearish intraday stock market "update", stocks retrace almost immediately. I'm not suggesting any causation/correlation thingy - just pointing out facts. spoos up 6 points since this post hit, Nasdaq now green and dow 50 pts higher. Weird to say the least.

Fri, 04/04/2014 - 10:04 | 4624680 HRamos_3

And ZeroHedge's "All hell broke loose" post marks the bottom again. Thanks Tyler!

Fri, 04/04/2014 - 10:08 | 4624702 Doubleguns

Maybe the PPT gets thier cue from watching ZH. Ah shit gotta get to work boys ZH outed the market again!!!!

Fri, 04/04/2014 - 11:38 | 4624993 PartysOver

might want to do a rethink on that. I did.

Fri, 04/04/2014 - 10:05 | 4624693 thismarketisrigged

and wouldnt u know it, the nasdaq has recovered its losses, fuckbook is positive now, cant make this shit up if u tried

Fri, 04/04/2014 - 10:07 | 4624698 FieldingMellish

Can't call a trend on a few minutes of trading. Daily, weekly, monthly trend for stawks remains up.

Fri, 04/04/2014 - 10:09 | 4624704 Kaiser Sousa

how much anybody wanna bet that the phony paper price of Gold hovers right at 1299. all day long avoiding the magic 1300. that the bankers been defending??????????

fucking joke.

Fri, 04/04/2014 - 10:19 | 4624737 Al Huxley

No, it will be beaten back down under 1290 by the end of the day. The little spike in the morning was just the pavlovian signal to suck in all the papergoldbugs to put in market orders pre-open and guarantee that they pay max price for their paper collection.

Fri, 04/04/2014 - 10:38 | 4624790 IridiumRebel

I hate it when you are right....which is A LOT.

Fri, 04/04/2014 - 10:22 | 4624741 Kaiser Sousa

fucking MoneyChangers never give up do they...nah, Gold aint money right Bonehead Ben.....?

"ISLAMABAD:

Pakistan has refused to sell gold worth $2.7 billion, citing national security reasons, as the International Monetary Fund (IMF) pushes Islamabad to convert the precious metal into cash to build foreign currency reserves, revealed the global lender’s report on Friday.

The report, prepared by IMF’s staff led by its Washington-based Mission Chief to Islamabad Jeffrey Franks, also spills the beans on the ‘$1.5 billion gift’ to Pakistan by ‘Saudi Arabia’ – the name Prime Minister Nawaz Sharif’s government has so far refused to officially share with parliament.

According to the report, the State Bank of Pakistan (SBP) holds over 2 million troy ounces of monetary gold, having $2.7 billion value at market rate. It is not counted in gross international reserves as it is not deemed to be liquid by the SBP, says the IMF.

The IMF and Pakistan authorities discussed what steps would be needed to make gold more liquid, the report adds. “However, the (Pakistani) authorities stressed that they have no plans to sell gold and preferred existing arrangements for gold holdings for national security reasons.”

The IMF is pushing Pakistan to sell gold holdings at a time when other countries are buying the commodity as a strategic reserve. The IMF had even sold its surplus gold to India a couple of years ago.

According to analysts, one reason behind the IMF’s insistence could be the country’s inability to build official foreign currency reserves despite being in the $6.7 billion IMF arrangement.

While the IMF hinted in its report that the SBP was not aggressive in building foreign currency reserves, it disclosed that Pakistan’s central bank continued its efforts to build reserves by purchasing dollars from the market.

The SBP purchased $575 million in the last few months till March 17, the report states. The SBP purchases may help stabilise the foreign currency reserves but is considered one of the reasons behind depreciation of the local currency against the US dollar. The rupee started appreciating only after the $1.5 billion grant from Saudi Arabia."

http://tribune.com.pk/story/688588/turn-down-pakistan-refuses-to-sell-go...

Fri, 04/04/2014 - 10:36 | 4624783 robertocarlos

Why is the IMF always so determined to have the gold when it is valued at chump change?

Why does Pakistan want to hang onto something worth chump change?

Fri, 04/04/2014 - 10:42 | 4624802 Al Huxley

It's not that they're out to hurt anybody in particular, just that they're a bunch of lying, cock-sucking, filthy courtiers grovelling at the feet of a small cabal of super-rich, inbred trolls who enjoy stealing indiscriminately.

Fri, 04/04/2014 - 10:11 | 4624709 Hindenburg...Oh Man