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Massive Volume Just Slammed Stocks To The Downside As Biotechs Hit Bear Market

Tyler Durden's picture


Someone was in a hurry - paging Waddell & Reed? The volume surge occurred right as VIX broke above 16 and the Biotech Index (-6.25% today) has hit bear market territory. The Nasdaq is getting slayed- down over 3% and all but Trannies are red YTD.






Charts: Bloomberg


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Thu, 04/10/2014 - 15:12 | 4644422 WTF_247
WTF_247's picture

Where is the PPT?  At lunch?  Perhaps just finishing that last martini....

Thu, 04/10/2014 - 15:12 | 4644427 Dr. Richard Head
Dr. Richard Head's picture

I prefer a Moscow Mule in a copper pot myself. 

Thu, 04/10/2014 - 15:13 | 4644432 fonzannoon
Thu, 04/10/2014 - 15:14 | 4644439 Pladizow
Pladizow's picture

Dont go chasin' waterfalls?

Thu, 04/10/2014 - 15:16 | 4644449 McMolotov
McMolotov's picture

Damn you straight to hell for getting that fucking song stuck in my head!!!

Thu, 04/10/2014 - 15:17 | 4644460 Say What Again
Say What Again's picture

I say again.  1823.50 on the ES.  Watch it

Thu, 04/10/2014 - 15:21 | 4644491 NoDebt
NoDebt's picture

And JPM chalks up another trading day without a loss as this happens.

Thu, 04/10/2014 - 15:27 | 4644527 john39
john39's picture

time to bring back the deer...  that will probably turn things around.

Thu, 04/10/2014 - 15:30 | 4644537 NoDebt
NoDebt's picture

GOOD IDEA.  Tyler!  "The Deer", please.  And another round of drinks for everyone while you're up.

Thu, 04/10/2014 - 15:32 | 4644551 insanelysane
insanelysane's picture

Fortunately the HFts were able to front run this activity.  So they will have the 1576532 day of trading with no losses.

Thu, 04/10/2014 - 15:39 | 4644571 Thought Processor
Thought Processor's picture



I think the Nikkei barfs up a lung tonight.  


Japan will lead us all through the gates of hell.

Thu, 04/10/2014 - 17:52 | 4645094 Pareto
Pareto's picture


Thu, 04/10/2014 - 15:39 | 4644575 asteroids
asteroids's picture

Could folks be selling to pay their tax bills and cover their margin calls?

Thu, 04/10/2014 - 15:43 | 4644577 flacon
flacon's picture

MyAPR 19 186 SPY puts are up 200%! I bought them at 10:00am this morning. I cashed in half - letting the rest ride until tomorrow.

Thu, 04/10/2014 - 15:48 | 4644599 new game
new game's picture

money flowing direct to treasuries today...

nice to be in the money(flacon)-cudos.

Thu, 04/10/2014 - 15:52 | 4644612 flacon
flacon's picture


Thu, 04/10/2014 - 15:22 | 4644494 CrashisOptimistic
CrashisOptimistic's picture

God DAMN!  Look at all that red!

That's a beautiful thing, right there.

Thu, 04/10/2014 - 15:20 | 4644488 Emergency Ward
Emergency Ward's picture

raindrops keep fallin' on my head...

Thu, 04/10/2014 - 15:21 | 4644496 NoDebt
NoDebt's picture

That doesn't mean MY eyes will soon bee turning red.

Thu, 04/10/2014 - 15:19 | 4644474 ebworthen
ebworthen's picture

I always thought it was "Don't go Jason Wonderful".

Thu, 04/10/2014 - 15:20 | 4644482 McMolotov
McMolotov's picture

"Hold me closer, Tony Danza."

Thu, 04/10/2014 - 15:21 | 4644492 fonzannoon
fonzannoon's picture

count the head lice, on the highway...

Thu, 04/10/2014 - 15:23 | 4644505 NoDebt
NoDebt's picture

S'cuse me while I kiss this guy...

Thu, 04/10/2014 - 15:23 | 4644507 Say What Again
Say What Again's picture

You guys are getting all giddy and shit.

Thu, 04/10/2014 - 15:28 | 4644534 NoDebt
NoDebt's picture

We're 3 drinks into this at the local watering hole.  Where are you?  How fast can you get here?

Thu, 04/10/2014 - 15:31 | 4644544 fonzannoon
fonzannoon's picture

clearly the stock to own today is MCD because by tomorrow we will all be eating diabetes in a nasty wrapper served by some punk who just sneezed on it.

Thu, 04/10/2014 - 15:39 | 4644572 hobopants
hobopants's picture

Well, I don't think I want this cheeseburger anymore...

Thu, 04/10/2014 - 15:39 | 4644574 NoDebt
NoDebt's picture

I really am heading out of here in about 20 minutes to toss a few back.  If you weren't stuck a million miles away on that Island Of Misfit Toys, I'd invite you along.

Thu, 04/10/2014 - 15:55 | 4644620 Say What Again
Say What Again's picture

where will you be

Thu, 04/10/2014 - 16:06 | 4644661 NoDebt
NoDebt's picture

Buckley's Tavern.  Centerville, DE.

If I see a guy walking in who looks like Samuel L. Jackson, I'll know it's you.

Thu, 04/10/2014 - 15:48 | 4644600 pods
pods's picture

He fonz, if you want to double up in agony, Taco Bell is serving breakfast.

Pssst, save the wetnap, you're gonna need it.


Thu, 04/10/2014 - 15:57 | 4644627 fonzannoon
fonzannoon's picture

Those taco bell commercials are just a psyop!


Thu, 04/10/2014 - 15:27 | 4644531 ebworthen
ebworthen's picture

lay me down in sheep skin livin'...

Thu, 04/10/2014 - 15:15 | 4644443 Rick Blaine
Rick Blaine's picture

This is nothing.

If we start doing shit like -500 on the Dow in a single day, THAT's when the real fun starts.

Thu, 04/10/2014 - 15:19 | 4644469 Thought Processor
Thought Processor's picture



That'll be tommorrow.  


Have the feeling that the rug has just been pulled out and we are still levitating in the air now, but with a slight downside bias.


Fasten seatbelts.

Thu, 04/10/2014 - 15:24 | 4644512 Say What Again
Say What Again's picture

When Black Friday comes...

Thu, 04/10/2014 - 15:55 | 4644622 new game
new game's picture

be interesting.

Thu, 04/10/2014 - 16:00 | 4644637 Mr Pink
Mr Pink's picture

Damn it Say What you're not supposed to use REAL song lyrics!

Thu, 04/10/2014 - 15:22 | 4644487 hobopants
hobopants's picture

Hey ive seen this episode before, it goes back in the green by tomorrow...rigged market is rigged.

Thu, 04/10/2014 - 15:28 | 4644509 Beam Me Up Scotty
Beam Me Up Scotty's picture

Exactly.  When the S&P is 666 again, then I will believe they have lost control.  This shit has happened every April/May for the last few years, and I have thought, here we go!  And then the shorts get their faces ripped off.  Again!

All the Fed mouthpeices need to do is throw out a few soothing words, and its up, UP and AWAY!!

Thu, 04/10/2014 - 15:33 | 4644553 Oldwood
Oldwood's picture

That would seem the obvious play, but still...I wonder. None of these fuckers are trustworthy and each and every one of them knows they could get a knife in the back at any moment, so you have to think they are ALL watching the door over their shoulder, readying themselves to make a run for it. That's the problem with corruption, the fuckers just can't help themselves. They eventually will always fuck each other over, and they know it. How many times do we need to watch the Godfather? Kind of like marrying someone who was cheating on their previous spouse with you. You know they are always watching for an opportunity.

Thu, 04/10/2014 - 15:38 | 4644567 new game
new game's picture

the door aint getting wider...

Thu, 04/10/2014 - 15:51 | 4644611 Beam Me Up Scotty
Beam Me Up Scotty's picture

I hear ya Oldwood.  And we won't know if this is really IT until IT is in the rearview mirror.  I got my face ripped off a few times, and I have given up trying.  Instead of losing money in the casino, I figure its a better investment buying some nice wine and steaks.  Nothing like a good New York strip cooked on charcoal and a glass of good red wine to go with it.  They just aren't going to let me get rich at the casino, so I quit going.

Thu, 04/10/2014 - 16:16 | 4644529 Thought Processor
Thought Processor's picture


Watch the buy programs right about now- up into the close.  Then things get interesting over night as it becomes obvious that Russia is getting ready for something larger in 'scope'.


edit:  What no EOD ramp?  



Thu, 04/10/2014 - 15:24 | 4644508 holgerdanske
holgerdanske's picture

Not "if", "when", it's just a question of time.

Have patience. There'll be enough to go around.


Got gold?

Thu, 04/10/2014 - 16:37 | 4644803 Wahooo
Wahooo's picture

No kidding. The headline writers are grasping for straws with this biotech crap. Who in the hell cares about what biotechs do?

Thu, 04/10/2014 - 15:21 | 4644490 holgerdanske
holgerdanske's picture

"I love the smell of napalm in the morning."

Thu, 04/10/2014 - 15:12 | 4644424 JailBank
JailBank's picture

See there is nothing wrong with HFT trading.

Thu, 04/10/2014 - 15:13 | 4644429 curbyourrisk
curbyourrisk's picture

Weeeeeeeeeeeeeeeee!!!  (in a high pitched little girls voice)

Thu, 04/10/2014 - 15:13 | 4644430 101 years and c...
101 years and counting's picture

a bear for spx starts at 1520.  only 310 more points to go.  

Thu, 04/10/2014 - 15:19 | 4644473 mtndds
mtndds's picture

I will pop a wood when the DOW hits 10,000 from todays level.  Otherwise tomorrow we will be at record highs once again.

Thu, 04/10/2014 - 15:20 | 4644484 A Man without Q...
A Man without Qualities's picture

If it gets to that point, that's when the fools on CNBC will be finally turning bearish and telling everyone to run for the hils, that's when you go long...

Thu, 04/10/2014 - 15:53 | 4644615 Beam Me Up Scotty
Beam Me Up Scotty's picture

CNBS will NEVER turn bearish.  The lower the market goes, the better the buying opportunity.  They will just get more bullish the further the market falls.  At least, that will be the propaganda.

Thu, 04/10/2014 - 15:13 | 4644433 dow jones 20000
dow jones 20000's picture

I KNEW there was some fishy shit going down in the market every time the S&P hit 1840!

The minute it broke it Biotechs went into a bear market. 

Thu, 04/10/2014 - 15:13 | 4644434 Kreditanstalt
Kreditanstalt's picture

Must be machine-driven selling due to margin calls!

Thu, 04/10/2014 - 15:18 | 4644463 nonclaim
nonclaim's picture


Thu, 04/10/2014 - 15:13 | 4644435 Yen Cross
Yen Cross's picture

   I find it extremely odd that FX is virtually frozen!

Thu, 04/10/2014 - 15:19 | 4644458 Grande Tetons
Grande Tetons's picture

USD/CAD is moving a bit...but looks rather subdued as Draghi would say. 

I like the CAD during times like can go to shit in an instant and I am not paying a shitload or role if it turns into a longer term trade. 

Thu, 04/10/2014 - 15:29 | 4644540 Yen Cross
Yen Cross's picture

   I keep thinking about that ALLY IPO. What a Schleprock move that was.

Thu, 04/10/2014 - 15:32 | 4644550 Grande Tetons
Grande Tetons's picture


Thu, 04/10/2014 - 15:27 | 4644530 riot-police
riot-police's picture

You can say that again. 6E like a ghost town with tumbleweeds blowing by.

Thu, 04/10/2014 - 15:14 | 4644436 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Where's that picture of all the sheep trying to exit the paddock at once?

Thu, 04/10/2014 - 15:17 | 4644440 CrashisOptimistic
CrashisOptimistic's picture

It should not be too much longer before others see that this decline began about 48 hours after word came out that Michael Lewis is a fucking hero and the SEC and FBI are going to investigate HFT.

The whole thing has been Fed funded HFT engines.  There IS no market. 

Now, as soon as this is realized, the investigation will be smashed and Michael Lewis will become a God Damned Terrist and be thrown in jail.

That's the new normal.

Thu, 04/10/2014 - 15:20 | 4644483 NoDebt
NoDebt's picture

That's nuts.  I like it.

Thu, 04/10/2014 - 15:14 | 4644442 Stinko da Munk
Stinko da Munk's picture

I just started doing some symbolic trades in yuan.

Thu, 04/10/2014 - 15:15 | 4644446 i_call_you_my_base
i_call_you_my_base's picture

Someone needs to jawbone.

Thu, 04/10/2014 - 15:15 | 4644447 mtndds
mtndds's picture

Thats ok.  The FED will come in and pump up the market right before the close.  We will end at record highs!  Reverse physcology.

Thu, 04/10/2014 - 15:17 | 4644456 rsnoble
rsnoble's picture

I'm surprised the fucking clowns haven't already thrown the breakers and threatened sellers with jail time.

Thu, 04/10/2014 - 15:25 | 4644519 Oldwood
Oldwood's picture

At what point should we be hearing "Please....Buy The Fucking Dip"?

Thu, 04/10/2014 - 15:17 | 4644457 dbTX
dbTX's picture

I'll bet the HFT'ers do OK today, can't have another loss day.

Thu, 04/10/2014 - 15:17 | 4644462 debtor of last ...
debtor of last resort's picture

Rothschild say; are you ready to ruble?

Thu, 04/10/2014 - 15:18 | 4644464 atoast2toast
atoast2toast's picture

thats not massive, just a massive exaggeration 

Thu, 04/10/2014 - 15:19 | 4644470 mogul rider
mogul rider's picture

It's a champagne supernova in the sky

Thu, 04/10/2014 - 15:19 | 4644479 starman
starman's picture

Kreeeemer youu toold mee to hooold youu soon of aaa biitch!


I wasnt listening of course , you fucktard!

Thu, 04/10/2014 - 15:33 | 4644555 slightlyskeptical
slightlyskeptical's picture

Gartman told you to sell.

Thu, 04/10/2014 - 15:20 | 4644486 mogul rider
mogul rider's picture

watching overleveraged idiots jump from their office windows on my street





Thu, 04/10/2014 - 15:21 | 4644489 ifishivote
ifishivote's picture

everytime zerohedge says the market is getting crushed it rallies back.. zip it until after the close.

Thu, 04/10/2014 - 15:22 | 4644502 mogul rider
mogul rider's picture

Every time ifish opens his mouth I come

Thu, 04/10/2014 - 15:27 | 4644526 ifishivote
ifishivote's picture

you havent come since the last time you fucked your mother in her ass.

Thu, 04/10/2014 - 15:42 | 4644581 Dr. Venkman
Dr. Venkman's picture

that's a real Costanza comeback right there.

Thu, 04/10/2014 - 15:21 | 4644495 mogul rider
mogul rider's picture

I care not what the politics of a country is if I control it's currency


or algos''''

Thu, 04/10/2014 - 15:22 | 4644497 ebworthen
ebworthen's picture

Janet?  Wherefore art thou Janet?

Tesla and Chipotle must be saved!

All hands on deck!  Plunge Protection Teams to the toilet bowls!

Somebody took a huge dump and clogged things up!  Is it imminent bank earnings or China not easing!?!?

Thu, 04/10/2014 - 15:45 | 4644590 new game
new game's picture

my bets on china and conflict in U getting some playesr unnerved, not to mention insane valuations.

phsycological shift underway. fear habors itself in actions...

Thu, 04/10/2014 - 15:22 | 4644498 Bill of Rights
Bill of Rights's picture

Margin party of 5 your table is ready! Margin party of 5 your table is ready!

Thu, 04/10/2014 - 15:24 | 4644511 giorgioorwell
giorgioorwell's picture


Tyler, looks like you owe Gartmann an apology, he was just a couple days early this time

Thu, 04/10/2014 - 15:24 | 4644514 medium giraffe
medium giraffe's picture

Everyone loves a bargain.

Thu, 04/10/2014 - 15:24 | 4644515 Mr Giggles
Mr Giggles's picture

Quick to the bond mobile!!!

Thu, 04/10/2014 - 15:27 | 4644518 db51
db51's picture

Please folks......all this means is Goldman and JPM went short before talking the market down.  and scaring the bejesus out of everyone with all that HFT banning crapola.   They're toasting big time in the Hampton's tonight.   Those trophy wives will be hitting the spas and spending the loot tomorrow.   Consumer spending will be through the roof next week as a handful of folks "spread the ill gotten booty."


Thu, 04/10/2014 - 15:25 | 4644521 ymom11
ymom11's picture

So when do you think it will happen?

Thu, 04/10/2014 - 15:27 | 4644524 buzzsaw99
buzzsaw99's picture

god this is fun. too bad it won't last

Thu, 04/10/2014 - 15:33 | 4644538 NOTaREALmerican
NOTaREALmerican's picture

Re: Massive Volume Just Slammed Stocks To The Downside As Biotechs Hit Bear Market

I got seasick just reading this.   I bet the World's Most Interesting Man wouldn't be phased tho.

Thu, 04/10/2014 - 15:52 | 4644609 Emergency Ward
Emergency Ward's picture

I don't always go long, but when I do, I go long biotechs.

Thu, 04/10/2014 - 15:30 | 4644541 jubber
jubber's picture

Can't wait until Cat and IBM miss by a mile...again, look how they have gone since the last earnings

Thu, 04/10/2014 - 15:32 | 4644548 optimator
optimator's picture

We have to wait.  We're not on the insider list.

Thu, 04/10/2014 - 15:32 | 4644552 jubber
jubber's picture

Probally the most important headline today and gone totally unmentioned  



Thu, 04/10/2014 - 15:46 | 4644594 Kreditanstalt
Kreditanstalt's picture

We're in the 3:30 RAMP...

Thu, 04/10/2014 - 16:08 | 4644666 optimator
optimator's picture

Could it be a Reverse Ramp now that all the sheeple are in?

Thu, 04/10/2014 - 15:50 | 4644604 NEOSERF
NEOSERF's picture

HFT says BTFD!!!!!! and the stick save is complete...

Thu, 04/10/2014 - 15:50 | 4644605 BeerMe
BeerMe's picture

-1.4% on Dow

-3.0% on Nasdaq

Not even that interesting yet.  An 800 point loss would be interesting.  What makes me nervous is people aren't spending money now.  April is off to a very slow start.  Must be the nice weather /sarc.  I'm trying to get ahead by watching inventory purchases because when things go it will be rough.

Thu, 04/10/2014 - 15:51 | 4644606 Caracalla
Caracalla's picture

Looks like Kevin Henry is definitely back in the building now at the NY fed!  Better take these last 10 minutes to BTFD for tomorrow's rally.  Also, I would short TLT this afternoon; it's gone up too far too fast.

Thu, 04/10/2014 - 15:51 | 4644608 syntaxterror
syntaxterror's picture

My god. It's sunny, warm and perfect outside. Hit the fucking buy button already. Recovery summer is here!

Thu, 04/10/2014 - 16:14 | 4644698 jubber
jubber's picture

Those CNBC scum are indeed blaming Michael Lewis for this fall

Thu, 04/10/2014 - 16:47 | 4644838 Late onset ADHD
Late onset ADHD's picture

True story... not 5 minutes ago, I had an "Edward Jones" rep going door to door in my area "introducing himself" and asking if there was anything he could do to be of service. I live on five acres and always need odd jobs done, so...


I asked him if he wanted to paint my house. He looked at me funny.

I said "never say never, pal... did you see the VIX today?"

the shit is gettin' out of control.

Thu, 04/10/2014 - 16:53 | 4644867 tvdog
tvdog's picture

Just talked yesterday with a guy who was heavily invested in biotech stocks. Bragging about how much money he made in the market. Of course, he told me that investing in gold and silver was even worse than keeping money in the bank.

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