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The Deer Is Back - Nasdaq Suffers Biggest Loss Since Nov 2011
But the pretty people on TV said the Fed Minutes proved they were the most dovish ever and initial claims hit recovery lows... What a total disaster - Equity markets peaked within a few minutes of the open and never looked back - yesterday's "Fed Cat Bounce" gave way to Really Red Thursday...
- Biotechs -6% worst day since Aug 11
- Nasdaq -3.2% worst day since Nov 11
- Russell 2000 -3.1% worst day in 12 months
- S&P "Growth" -2.5% worst day in 10 months
- Financials -2.2% worst day in 10 weeks
- Social Media ETF -4% worst day in 11 months
- VIX +17% biggest rise in 3 months
- Nikkei knackered... Hits 14,000 - down 14.25% from highs to six month lows
Nasdaq and Russell are -6.5% from recent highs and the S&P is -3.5% from its highs...
The question is - why did the Fed feel the need to act more dovish? That's why growth is getting slayed and beware the head fakes.
Fed Cat Bounce failed... And an UGLY CLOSE
As the post-FOMC meeting losses are mounting...
And the "growth" stocks have been monkey-hammered since Tarullo said they were in a bubble...
"Investors" (and Hitler) are shocked and stunned that High-Beta works both ways...
Away from stocks, Bonds rallied (with 10Y breaking the crucial 2.64% level)
Commodities rallied
The USD sold off
We leave it to Bob Pisani to sum it all up:
"the bears have the upper hand but people still think it will turn around"
But then again, there was this cherry from some "floor trader":
"it's painful if you own 'em, but you owned 'em a lot lower so you're not really in that much pain"
Tell that to Social Media stockholders...
Charts: Bloomberg
Bonus Chart: GMACandy Crash
Bonus Bonus Chart: Nikkei knackered... Hits 14,000 - down 14.25% from highs to six month lows
Bonus Bonus Bonus Chart: The Nikkei is at its cheapest to The Dow in 15 months...
* * *
Finally, something else of note. Earlier today Nanex believes it may have found another new, if not necessarily rogue, algo operating in the market. According to the analytics firm, multiple orders for 750 eMini contracts appeared on 2 price levels (at least 3, and as many as 8 separate orders of 750 contracts on each price level). This appears to have been to induce the market slightly higher (lower) when the large orders were to buy (sell).
Another occurrence about 20 minutes later.
The Flash Crash in May 2010 was created by HFTs, and according to some, the quote stuffing bottleneck may have been intentional. How long until someone spoofs HFTs and forces them to be the reason for the next flash crash, in the process redirecting public fury from the Marriner Eccles central planners and into nameless, faceless vacuum tubes?
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Gold was up.
My SPY APR 19 186 puts were up 200% today. Bought them at 10:03am, sold half and keeping half. Maybe we get a bounce tomorrow into the weekend, or maybe another sell-off. We are at the top of the Kumo Cloud though....
Venison!
Yay! We all love the deer. It's a pity though, the little fucker never gets a brake.
All eyes on Japan now. Bad Sushi on deck...............
Consume at your own risk.
I like the deer as much as the next guy, but can we pick a deer that is actually on the road?
Headlights, flashlight and gunsites, does it really make a differencee?
dont worry...he wont get rid of boohoo.com...to fucking funny....
Your car just went flying off the road, and you have no seatbelt.
I'm just glad it wasn't one o' them GM cars...
Oh deer...
No worries, it'll be back up tomorrow for another tension filled weekend for ......hmmm....investors...I guess...another sink into thursday, friday pump, monday surprise....
know when to walk away...know when to run....
Yeah, Sunday nite could be a real pisser. Stir in a little invasion action mix vigorously light fuse and watch fireworks. Where's my popcorn?
You know the "market" has gone all woobly when even the wrongness of Dennis Gartman has become less reliable.
Yup
Feels very pre-run to bombs over baghdad. Between Japan on Sunday morning and Putin's invasion window over the next 5 to 19 hours, shit may get very fun.
These days of the stock market down and GOLD up will be much more frequent in the coming future. Gold is money and will always be money. Keep stacking.
http://jimroger.blogspot.ca/
Oh no! What should we do! What? Wait til next week for fresh new highs. Ok. Whew! That was scary!
http://hedgeaccording.ly/2010/02/is-spy-getting-little-jump-at-key.html
I love the deer!
Another 44% or so, and we'll be back to fundamentals.
Cold War 2 crash
**REUTERS: KEVIN HENRY IN CAR ACCIDENT, HAS HIT THE DEER
**REUTERS: DEER OKAY, KEVIN HENRY STILL AN ASSHOLE
Some funny stuff posted here over the years. This one should rank very high on that list.
Wow, that is awesome..
that deer has a charmed life-will most definetly live to see another oncoming beamer...
word.
love me some
zombie Artiodactyla !!!
We will all bask in red.
But the only thing that matters relentlessly grinds on.
Oil is $103. SPR threat coming . . . again.
Abundance is the path to nirvana, I'm told.
The essence of the Tao is reversal.
Brilliant!
Yes, the bottomless well that is the SPR will always be there to save us. Somedays I think the oil companies should just shut in existing production, cancel exploration projects and just pump the SPR.
"ALLY" financial instead of GMAC.
When they have to change the names to protect the guilty you know it's a Ponzi.
that pretty much the deal for half the S&P
the "markets in turmoil" special on cnbc always comes right at the exact bottom. dont expect to see this anytime soon.
Meeeowww :)
Fluffy, is that you?
3%-6% decline? Big deal. The 'price' of Silver does that even on good days.
yeah, but u gotta love how the MoneyChangers just cant stand Silver above $20...
eveery day the same shit at their line in the fucking sand in the "aint nobody really trading" Globex...
http://www.kitco.com/charts/livesilver.html
You know, I might actually have to put Bloomberg on for the first time in about a year, just for the lols.
Come for the lols, stay for the tits.
They do have tits, right? Gotta have tits these days.
That Dominic Chu guy had a fair old pair on him iirc. Not sure if he's still there. That Adam guy, he's a tit... um.....
Wait, how about strapons? They have strapons:
http://www.youtube.com/watch?v=FHJgnehxGUI
"Investors" are shocked and stunned that High-Beta works both ways...
Best comment today!,
ALLY-ALIE
If the VIX is up 17 percent how can TVIX which is a 3x ETF only be up 10percent.?can anyone explain this?
From my experience playing both TVIX and UVXY is that they tend to time decay much faster than the VIX. So for instance if there is a 5 % VIX spike TVIX will spike quickly to 15 % but it won't hold it and begin to decay fairly rapidly if the VIX is stable at 5 % for the day and then TVIX will close below the VIX.
Probably in the fine print of the prospectus. Usually they say that its 2x or 3x on a daily basis, which in any kind of sideways market will fucking bleed you to death over a few weeks. Maybe for TVIX they saw the chance and set the window at 1/2 hour - better be faster than the machines or you're fucked.
You have to admire their fucking sociopathic dedication to fucking over the retailer though, just when you think they've sprung every trap possible, they invent a new one.
TVIX is only 2x...and only when it's going down.
yes
I keep saying to myself "I've got to stop wasting time reading/making comments on ZH" but then
I read ones like yours.
*double post*
A leveraged derivative of a derivative of a derivative is kinda like an artificial lunch meat, Spam, meat filler substitute thingy. Unless you've studied options, AND these products, you have no idea what you're eating, so of course it doesn't behave the way you thought it should.
No offense, there's millions of people hedging with and trading these things with no idea whatsoever about what they are, and I in turn have no idea if you're one of them.
Not all lunch meat is the same. Boar's Head is good. Not everyone read The Jungle so you have to give props to the man who knows how to shave his meat.
Because ITS A FUCKING SCAM, DESIGNED TO RIP YOU OFF. It's like fucking 3 card monte, or gold mining stocks.
Off the lows?
Fear the dear! Buck and doe have one way to go!
Meat locker?
I prefer Beer Nuts to Deer Nuts, even though Beer Nuts cost $2.99 a bag and Deer Nuts are under a buck.
You're here all week, right? Should I try the veal?
Fuck, that's embarrassingly bad, and yet here I am literally laughing out loud.
Buying opportunites like this only happen once in a generation. You'all know what to do!
b..buy the dip?
Perfect day for the deer... Looking forward to many moar.
Um. You know, if you think about that and the whole "hit a deer with a truck" meme it doesn't make much sense. Not saying it's wrong -- just doesn't follow.
Logic, down the rabbit hole.
Decay,meaning they rape it!
I <3 Bambi !
Fed cat bounce? Why do I always read it as fat cat bounce?
Blame it on the quants....dispensable.......
I'm just glad to see the term 'monkey-hammered' being applied to something other than precious metals for once.
I want to load up on the new algo-etf. When is the IPO? Goddamn social media goin down, deer chatter, wtf?
Fed Cat Bounce, good one.
Might as well start putting on the fucking raincoat before any speeches Mrs Debtfire - the rotten tomato rain is only a matter of time.
Buck Naked, Revenge of the Sheorts
Every time I see it, I hear an entire stadium of people chanting "deer! deer! deer!" in my head now.
That's weird I just mentioned the alphabet on the other thread in my post before reading this story. I'm fucked in the head like that sometimes.
Kinda like almost everyday of the week when I look at the time it's either 911am or 911pm. No kidding true story it haunts me every fkn day.
cant afford beef this year. The time to deer hunt was last fall. That deer better not live close to popular hunting spot. Just saying,,,,,
I ate that deer this past winter. That's an old photo.
Hey Fred, can you pick up this muppet on the other line?
He wants to know if we can OPI the Ally IPO and have a do over.
Please bring the mother of all corrections.
The mother of all corrections is -- 100% down.
At which point just about everybody dies, outright.
But yeah what you said. I've got an axe so I'm betting I win.
You are thinking across all asset classes. Some stocks are approaching 50% down. $DDD. Its the "correction inside a disguided correction"
Perhaps we'll have to apologize to Dennis Gartman about yesterday. I guess he was right to be scared out of stocks.
Well, that's the fun thing about a high volatility collapse - you get to be a genius one day and a complete fucking moron the next.
everyone who is Not involved with the Bubble Basket - LEAVE NOW !
Verräter, Versager !
YY..why should I pay money to watch a teenager sing karaoke ?
it's a stupid name with a stupid valuation...
and so is twitter !
boohoo...
Looks like Jay Carney
Nice to see the de facto ZH mascot make its return.
Too much moar and we will need the dead kermit on the curb photo.
Funny...my miners barely got touched, but my energy equity (single) got burnt.
But, who in hell would be buying fakebook and tweeter? There is nothing there but bytes and bits....
What else to do but sit on cash and PM?
"What else to do but sit on cash and PM?"
That's a damn good question. I'm not comfortable going heavier on either of those at this point (I won't go into any details, but it's safe to say any traditional CFP would flip the fuck out at my PM position). I've probably got more high-end CCI 22LR that I stocked up years ago than exists on every retail shelf in my state, a gun collection that would make a Texan hang his head in shame, food, etc. I know anything I have left in the bank is pretty much 100% risk now, and want to move it out but I'm at a complete loss of what to move it into. Real Estate, fuck no... Equities, LMAO. Best I've come up with iso far is an underground storage tanks and gasoline/diesel, but even that only will suck up so much cash.
If we're talking about financial investments you move it to a pre-crashed market. e.g. Russia. There are others. ok I wouldn't go all in.
Well, I see where you're going but that sure looks like I'd just be switching from one 100% at risk to another 100% at risk with that move. But hey, I can always use being on another watchlist... collect the whole set!
Maybe Marc Faber is right about right about being long thai hookers after all...
Seek -
A Perennial Garden? (If you have land for a gas tank, you must have a plot of dirt.)
I'd plant loads of raspberry and blueberry (great quick-growing hedges that can bear the first year) ...
a few dwarf apple trees - definitely some Rhubarb and Asparagus. All of these are plant once, eat forever.
Just my green thumb's worth.
Wake me up when ZH pulls out the Dow 10,000 hats.
Guys I'm just a small retail trader compared to some of the coin you are moving around sorry to interupt.
I have $380,000 in a variety of accounts. Today I got all out. Closed it all. And I had to check my confirms SEVERAL times because some of the issues I traded were very thin. For 24 out of 27 transactions, I actually sold ABOVE the ask.
I have been trading retail for 18 years. I shook my head today. I put in some small lot market orders and the price went UP. I'm not joking. Usually that craters the price. You can see me selling this morning in $SRNE as an example. Every time I sold it went up. The more I sold, the higher it went.
WTF?
I also sold some horrible low priced stocks and could clearly see the bid jump ahead of me. But then they had to I guess switch to the ask, and by the time that happened I cancelled my order. Thank God for retail filling the bid. So I stuck it to the robots and in fact they are bag holders now on DDD and a few others.
I have never ever in my life for 18 years filled on TD Ameritrade for 88%+ of my trades filled above the bid.
I am sooooo out of this market. Its a bunch of computers and I may in fact be one of the last retail guys to get out alive with his face still intact.
what a tale..... we can all rest assured a 'regulator' will call to ask about your odd experience ...........heck even if a financial 'jornolist' would call .... nah...they don't understand .....
thank you Nanex and ZeroHedge.............
Save that fucking deer, Tyler. Countless times, one day after you've shown it, the ES commenced with yet another ridiculous, protracted ramp.
The action yesterday was why I cautioned bears not to be to confident. An unholy alliance of the Federal Reserve, the government, and the too big to fail has left those of us who question the validity of the recovery in a precarious position.
For the big boys with Fed backing and computers that exploit where stops are placed its easy to spook the bears. Again their main goal is to wash the timid and weak bears out of their positions in this manipulated market. More on this subject in the article below.
http://brucewilds.blogspot.com/2014/04/bears-have-little-reason-for-conf...
The big boys "claimed" to be getting out of hft and the market tanks. My guess is one or both of the following:
1. Time to pull the plug, especially now that the sheeple are so used to "up up and away" markets.
2. The testing phase of hft winning-on-the-way-down-down-down algos are ready.
That fat lady, she's in costume and warming up her voice offstage.
http://research.stlouisfed.org/fred2/graph/?g=wqK
Federal Debt: Total Public Debt
2013 Q4 $17,351,970,000,000
Quarterly, End of Period, Not Seasonally Adjusted, GFDEBTN, Updated: 2014-03-25 8:21 AM CDT
http://research.stlouisfed.org/fred2/graph/?g=wvD
Effective Federal Funds Rate
2014-03: 0.08 percent
Monthly, Not Seasonally Adjusted, FEDFUNDS, Updated: 2014-04-07 3:51 PM CDT