For The First Time Since QE, BTFD Fails For The S&P

Tyler Durden's picture

Last week BTFD failed for the Nasdaq and that class of talking-heads that we like to call asset-gatherers promulgated that there was no need to worry... this is a small segment of the market dragging down a high-beta index, rotate to bigger caps. The S&P has not failed the BTFD brigade since QE4EVA began... until today. For the first time, the S&P 500 cash index was unable to make a new high after bouncing off the 50DMA (in fact making a new cycle low)... now what?

click image for huge legible version


Remember, "you buy the fucking dip... because if you don't, you're a fucking idiot"



Unless it's different this time...

"I think it's very likely that we're seeing, in the next 12 months, an '87-type of crash," warns a somewhat excited sounding Marc Faber, adding that he thinks "it will be worse."

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ZeroChance's picture

What could go wrong?  ;-)

just-my-opinion's picture

Thanks for the wink...I was about to say...everything

Oh...Did I say that outloud

aVileRat's picture

A talking head on bloomberg (before Charlie Rose) just said he is telling clients with large biotech positions who may be at margin risk to make risk free money via buying the stock market today/tomorrow at the top and then sell puts just out of the money. My token old guy promptly spit out his coffee and proceeded to explain to our pit monkeys that this 'quick trade' was what led to the 1987 blowout when books gapped to cover.

We've now gone full retard. Someone get Leo to start slamming a microphone against his head on CNBC, nothing's left to see folks.



db51's picture

Friday will be a Banner Day Moon Shoot for Stocks.    All they have to to is load their computers tonight with the necessary orders.   5 4-3-2-1 BLAST OFF! 

MrTouchdown's picture

Hello Major Tom Blankfein.

just-my-opinion's picture

OK...BTFD...But what about Monday

Look at the China Data...that was our last chance and the don't even know the fall of an empire (maybe they forgot)

shermacman's picture

Even the vultures at GS are going to buy in tomorrow. There are more muppets to slaughter!

dirtyfiles's picture

but Goldman says the 10% correction for nice guys is next year WTF?

CrashisOptimistic's picture



Nothing clickable there, and misspelled loan, and URL shortened. 


Silver Garbage Man's picture

Last call for cheap metal.

JenkinsLane's picture

"The day the music died...."


FieldingMellish's picture

Very nice to see PMs hold their own today. Maybe not so much are being held in margin like 2008.

fattail's picture

Technicals only matter in a free and open unmanipulated market.  Let me know when that happens and I will care.   I expect A Fed sponsered correction .  just to give this joke of a market some credibility.   They want 10 or 15% they will get 30% and will lose their nerve and bail the bastards out again.

dirtyfiles's picture

we talking petrodollar in danger the market is secondary to that

the whole corrupted system is under the blanket now

QE49er's picture


"End the Fed" Rubber Stamp on Ebay:

Stamp every bill that comes your way until the sheep get it through their thick skulls.

disabledvet's picture

again...corrections are healthy.
for the record i remain long treasuries though, "pardon me for not pardoning me."

gold has clearly been spanking my butt YTD.
nuff said.

I also think President Putin really is a crazy former KGB Colonel.

If I were the spokesperson for "the West" I would say as my old boss used to say "stop the madness, dude. Stop the madness."

CrashisOptimistic's picture

That wasn't your boss.  That was your shrink.

just-my-opinion's picture

When your profits who's your boss 8^)

just-my-opinion's picture

Don't give up that gold brother...unless you buy food and water

The worst trader's picture

Yeller to the rescue! We will untaper the taper beginning now ! Or maybe a new war?

just-my-opinion's picture

Won't be the last time...I think It will be OK till Putin says F-this shit

I don't think he plays chess as well as some people think

just-my-opinion's picture

You might be surprised who I vote for....I don't...They all suck

NOTaREALmerican's picture

I meant YOUR post was a: vote for the top-line OR the bottom line.  

ebworthen's picture

Janet, c'mon, zero QE and prime rate at 6%.

The recovery is here, do it, or are ya' chicken - or is there no "recovery"?

The man with pointy horns's picture

You know that would guarantee the S&P 500 goes to 2000 at least. And then there is a cataclysmic crash.

NOTaREALmerican's picture

Compared to the other dips on this chart, this is barely note worthy.

I'm sticking with my long term outlook of increasing chances of bullshit overnight, with widely scattered bullshit by morning, leading to continued bullshit throughout the remander of the year which should increase the value of all bullshit based investments.  

just-my-opinion's picture

I can agree with that...+1 for you

Goldenballs's picture

All the banks in the world get safety nets from the 1st floor upwards outside and nail guns are banned from the workplace.

New_Meat's picture

We really do need dem bearz to 'splain this again ;-) - Ned

q99x2's picture

BTFK Buy the fuckin knife.

cmb's picture

we havent broke the 200ma...average down! QQQ calls Buy the fucking DIP!!

I_Am_'s picture

Is it that difficult to BTFD 87 style 2000 style 2009 style /s

dot_bust's picture

So, is the Fed engineering this stock decline to force traders to liquidate equities in favor of U.S. Treasuries? If so, is the recent Treasury sell-off from China the reason?

bdub2's picture

See ya'll at 2250 in a few.

This Bull Will. NEVER. Die. Remember. Reason, ne', life itself no longer matters. The Only reality now, is The Up Market. Forever.  This Bull market is self-aware. It has absorbed Earth. All our bases are belong to it.  It is the Black Hole Bull Market. Not to mention the Bull Hole Black Market. Not even light or GARP can escape it. It's what has always been in Room 101. It is not alive nor dead, transending mere human comprehension as it is light years beyond the big bang, and infinitely faster, not traceable, yet measurable in itself.

It is the Grand  O     N      E.

It is all. It is all-knowing. And in the same breath. It is Nothing at all.





juggalo1's picture

I like how you posted a video from 3 years ago.  Let's see.  If I bought the SPY in Novermber 2010, and held till now with dividends reinvested, I would have made a 66& return.  I'm not saying it will still go up from here.  I'm just saying the video mocking that strategy appears slightly ludicrous in light of the succeeding 3 years.  Remember in trading: "early" is the same as "wrong".

Vice's picture

The charts looked better on top pf each other the last 10 times we showed this comparison, it just gets longer every time. 

polo007's picture

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

Effective Federal Funds Rate

2014-03: 0.08 percent

Monthly, Not Seasonally Adjusted, FEDFUNDS, Updated: 2014-04-07 3:51 PM CDT

Sasquatch's picture

BTFD didn't just need to turn your chart upside down...and pick your shorts...