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S&P Plunges Back To Negative Year-To-Date

Tyler Durden's picture




 

It appears yesterday's "Fed Cat Bounce" was exactly that. While the momos are making headlines, selling pressure is broad-based now and the S&P has just joined the Russell, Nasdaq, and Dow in the red year-to-date... "Growth" stocks are at the lows of the year relative to "Value"

click image for huge legible version...

 

With "Growth" at its lows for the year versus "Value"

 

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Thu, 04/10/2014 - 12:13 | 4643674 joego1
joego1's picture

Just in time to pay taxes!

Thu, 04/10/2014 - 12:19 | 4643716 greyghost
greyghost's picture

so who started to dump at 12 noon...stocks...metals all take a hit??

Thu, 04/10/2014 - 12:36 | 4643777 Say What Again
Say What Again's picture

Can you please show us that Bloomberg chart for the Most-Shorted relative to the index.

p.s. The answer to your question regarding the dump at noon is that is shortly after the European close.

Thu, 04/10/2014 - 12:45 | 4643847 greyghost
greyghost's picture

"SAY WHAT"....thanks

Thu, 04/10/2014 - 12:47 | 4643854 Say What Again
Say What Again's picture

I was thinking about placing a few orders to sell on BATS.  Do you think anyone will see my order before it hits the SIP?

Thu, 04/10/2014 - 13:11 | 4643969 Two-bits
Two-bits's picture

not if BATS declares self-help after you hit the confirm order button.

Thu, 04/10/2014 - 12:44 | 4643839 Pairadimes
Pairadimes's picture

Not me. I've been completely out of this mess since mid-March. Tick tock.

Thu, 04/10/2014 - 13:13 | 4643974 slaughterer
slaughterer's picture

Buy the Morgue for non-Gaap tomfoolery tomorrow.  

Thu, 04/10/2014 - 12:15 | 4643677 Two-bits
Two-bits's picture

BATS declares self-help in 3,2, 1...

Thu, 04/10/2014 - 13:09 | 4643959 Two-bits
Two-bits's picture

No jail for Cohen:

http://money.cnn.com/2014/04/10/investing/cohen-sac-capital-point72/

only a fine.  Shocker.

 

Just us served.

Thu, 04/10/2014 - 12:14 | 4643684 medium giraffe
medium giraffe's picture

Oh the Huge Manatee!

Thu, 04/10/2014 - 12:14 | 4643686 Cursive
Cursive's picture

Today:  Negative YTD

Tomorrow:  ATH

Day after tomorrow:  Negative YTD

rinse -- repeat -->

Thu, 04/10/2014 - 12:17 | 4643702 fonzannoon
fonzannoon's picture

BTF Doh!!!!!!

Thu, 04/10/2014 - 12:20 | 4643721 Cursive
Cursive's picture

@fonz

Bro, I'm not gonna pull a EKM and name the day and time, but this year feels like it being primed for a waterfall in the "Markets."

Thu, 04/10/2014 - 12:23 | 4643732 fonzannoon
fonzannoon's picture

watch 2.6% on the 10yr. 

Interesting read btw

http://finance.yahoo.com/news/energy-firms-fed-hands-off-195933472.html

Thu, 04/10/2014 - 12:31 | 4643772 maskone909
maskone909's picture

sum ting wong with the nasdaq

ruh roh

Thu, 04/10/2014 - 12:34 | 4643786 CrashisOptimistic
CrashisOptimistic's picture

The dirty little secret about oil prices is that NYMEX and trading in general doesn't mean much.

A refinery asking for a shipment of Bonny Light from Nigeria doesn't even look at NYMEX pricing.  He talks to Nigeria and competes with other refineries on the conference call.  They bid, Nigeria offers.  They do a deal.

Then NYMEX hears about it and adjusts prices.

Thu, 04/10/2014 - 13:06 | 4643944 NOTaREALmerican
NOTaREALmerican's picture

Is this really how it works for most deals?  

Thu, 04/10/2014 - 12:15 | 4643691 maskone909
maskone909's picture

so whats qe at now?  60 billion permonth?  whats the treasuries vs MBS?  because clearly the must buy more shit.

Thu, 04/10/2014 - 12:17 | 4643705 Two-bits
Two-bits's picture

I heard Chineese corporate bonds look good right now.

Thu, 04/10/2014 - 12:52 | 4643881 Say What Again
Say What Again's picture

The Russian Gas sounds good too.

Thu, 04/10/2014 - 13:12 | 4643933 Two-bits
Two-bits's picture

Only if you are paying in yuan.

 

edit:  It seems that Greek and Irish bonds are back on the menu as well.  Better jump on that shit while you can.

Thu, 04/10/2014 - 14:01 | 4644132 stormsailor
stormsailor's picture

better jump on that shit, before it liquifies into diarrhea

Thu, 04/10/2014 - 12:17 | 4643699 El Hosel
El Hosel's picture

Bio Tech index trading at 2000 times earnings... Wut Bubble?

Thu, 04/10/2014 - 13:38 | 4644041 slightlyskeptical
slightlyskeptical's picture

It's just about a zero sum game at this point. What is good for one biotech usually hurts another. With healthcare monies harder and harder to come by, it is hard to see how as a group their revenues can explode to the upside.

Thu, 04/10/2014 - 12:18 | 4643706 Yen Cross
Yen Cross's picture

     Paging Belgium...Would Belgium please contact the Fed. discount window.

Thu, 04/10/2014 - 12:20 | 4643717 Kaiser Sousa
Kaiser Sousa's picture

here comes the phony paper price attacks on both forms of real money...

cant have Silver and Gold rising and maintaining when the Fraud Markets r crumbling...can they?

http://www.silverseek.com/

http://www.kitco.com/charts/livesilver.html

Thu, 04/10/2014 - 12:20 | 4643718 walküre
walküre's picture

My ultimate personal contrarian indicator told me in a convo yesterday that he thinks the S&P will be at 2150 this time next year. The guy is 100% muppet all of the time. He was bearish during the run and has lost stupid amounts of money trying to be bullish now.

Thu, 04/10/2014 - 12:20 | 4643725 fonzannoon
fonzannoon's picture

At least todays action proves gold miners can be pieces of shit in any market

Thu, 04/10/2014 - 12:26 | 4643748 Winston Churchill
Winston Churchill's picture

Too much politcal risk. Miners are dead.

Thu, 04/10/2014 - 12:58 | 4643905 walküre
walküre's picture

Only way to play miners is betting on takeovers. Not worth it unless you have an inside track. Some action at Semafo is possible. Smaller low cost producer with good properties still attractive priced for a big guy to come in. Followed the co. for a while over the years and made some gains before selling out in 2011. Missed the top. Haven't been in the space again since. I'd pick it up below 3 bucks.

Thu, 04/10/2014 - 13:48 | 4644084 slightlyskeptical
slightlyskeptical's picture

Freshly long miners. We will see how it goes.

Thu, 04/10/2014 - 12:21 | 4643730 youngman
youngman's picture

I paid a lot less in taxes this year than last....sorry Obama...

Thu, 04/10/2014 - 12:23 | 4643737 HRamos_3
HRamos_3's picture

Yeah, just short now and you'll profit like hell! I promise!

Seriously, this time is different.

</sarc>

Thu, 04/10/2014 - 12:26 | 4643750 slaughterer
slaughterer's picture

JPM saves the market with blow-out earning tomorrow morning.  (Or at least they will appear to be blow out.)  Jamie wants this in his legacy memoir: how my bank saved the ES Mini from sure self-destruction in April 2014.

Thu, 04/10/2014 - 13:00 | 4643917 disabledvet
disabledvet's picture

I first read the missive "Fed Cat bounce" as "Fat Cat Bounce" actually.

Corrections are healthy sheeple but to say a full scale Russian invasion of the West isn't good for demand now and going forward "forever" is a tall order in my book.

The bulk of "unemployed Europe" needs a new place to populate and I can think of no better place than Ukraine. They might have to fight for that of course. "But then they might become the proud owner of a 100 thousand acres in Russia too."

I want to believe Putin knows what he's doing here...but right now he sure looks like the patsy to me with "Ukraine as the cheese."

Thu, 04/10/2014 - 12:27 | 4643753 buzzsaw99
buzzsaw99's picture

plunges, love it!

Thu, 04/10/2014 - 12:40 | 4643819 DavidC
DavidC's picture

A plunge might be Dow sub 16,000. This ain't a plunge, the Dow's only back where it was at this time yesterday.

DavidC

Thu, 04/10/2014 - 12:49 | 4643866 buzzsaw99
buzzsaw99's picture

lovin' the daily zh hyperbole. i assumed people would know that's what i meant.

Thu, 04/10/2014 - 13:01 | 4643922 walküre
walküre's picture

S&P is "climbing" like walking up a sand dune - for now. Two steps forward, one step back. When it turns, it will be like a guy running down the sand dune with leaps.

Thu, 04/10/2014 - 13:14 | 4643977 DavidC
DavidC's picture

Ah, sorry buzzsaw, missed your humour on that one!

DavidC

Thu, 04/10/2014 - 12:28 | 4643756 Caracalla
Caracalla's picture

Good time to BTFD.  I bought the dip yesterday morning and am doubling up now.  Plenty of money to be made with low risk.  BTW, what's going on with the 10 year?  Anyone know?  Looks a little jumpy the past several days.

Thu, 04/10/2014 - 12:30 | 4643762 dobermangang
dobermangang's picture

All I see on my screen is red, red and more red.  I don't see anything worth buying either.  Time to watch the Masters to see some greens.

Thu, 04/10/2014 - 12:31 | 4643766 slightlyskeptical
slightlyskeptical's picture

Damn! I knew Gartman was right!

Thu, 04/10/2014 - 12:33 | 4643783 slaughterer
slaughterer's picture

Gartman is ALWAYS right, just the opposite of right, which is the same thing., sort of.  

Thu, 04/10/2014 - 12:34 | 4643788 Philalethian
Philalethian's picture

Fireworks at the contempt hearing for lois lerner:

http://video.foxnews.com/v/2553193403001/house-committee-to-hold-contemp...

 

Thu, 04/10/2014 - 12:40 | 4643818 HRamos_3
HRamos_3's picture

I like my 1850, can i keep my 1850?

Are we printing straight to stocks already?

Thu, 04/10/2014 - 13:53 | 4644112 slightlyskeptical
slightlyskeptical's picture

I'm pretty sure Kevin is warming up his terminal as we speak.

Thu, 04/10/2014 - 13:02 | 4643928 disabledvet
disabledvet's picture

"President will finally say something."

"President will blah-blee-blah."

Thu, 04/10/2014 - 13:04 | 4643934 scubapro
scubapro's picture

RELEASE THE POMO!    today and tomorrow are above avg pomo days fyi

Thu, 04/10/2014 - 13:15 | 4643980 slaughterer
slaughterer's picture

Sh*t, can we just fast forward to 3:30pm ramp capital?

Thu, 04/10/2014 - 13:35 | 4643999 HRamos_3
HRamos_3's picture

Can someone nudge PPT? Thank you

PPT:

This is no time to be having coffee breaks. Now, push the thing back to 1850.

Effin slobs.

I'll help in a sec, just warming up my good ol' HP.

Thu, 04/10/2014 - 14:00 | 4644133 HRamos_3
HRamos_3's picture

Had forgot to change quality to draft, should start picking up speed now.

Thu, 04/10/2014 - 14:11 | 4644171 HRamos_3
HRamos_3's picture

FFS, paper got stuck. Just unstuck it and change ink cartridges, should be gtg around 2:30.

Thu, 04/10/2014 - 13:23 | 4644000 TPTB_r_TBTF
TPTB_r_TBTF's picture

Aside:  Bitcoin also hit a new low YTD.

 

I sure hope the Fed ups the QE again soon. The ECB is finally considering QE!

The US has done enough to keep up the "market" appearances.  Time for other Central Banks to get on board and keep these socalled "markets" afloat.

Thu, 04/10/2014 - 13:38 | 4644043 ZeroFreedom
ZeroFreedom's picture

Alot of selling into Tax Day. Guess even the rich have to pay some taxes.

Thu, 04/10/2014 - 13:50 | 4644100 syntaxterror
syntaxterror's picture

Doubtful.

Thu, 04/10/2014 - 14:51 | 4644328 hobopants
hobopants's picture

Lol that's a good one!

Thu, 04/10/2014 - 14:52 | 4644330 hobopants
hobopants's picture

Duplicate

Thu, 04/10/2014 - 13:39 | 4644046 Comte d'herblay
Comte d&#039;herblay's picture

J B T Mfing D.

J S T Mfing S.

 

This applies whether you are long or short. But not medium. 

Thu, 04/10/2014 - 13:49 | 4644087 syntaxterror
syntaxterror's picture

Time to bring out everyones' favorite sheepdog, Old Yellen, to get the flock pointed back into the right direction.

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