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Tumbling Tuesday: Stocks Slide As "Fundamental" Pattern Buying Fails To Materialize

Tyler Durden's picture




 

But "they" said it was all ok yesterday? That is was all "priced in"... and it's a Tuesday!!!! US equity markets - most notably the Russell 2000 and Nasdaq - are back at yesterday's lows. We did see the ubiquitous JPY ramp, stock pump around POMO but it would appear we have reached Peak Tuesday Effect as every self-fulfilling prophecy inevitably comes to an end (though there is will a couple of hours left to save "investors")... Treasury yields are notably lower (unch on the week) with gold and silver modestly higher (up small on the week). Credit markets warning signal from yesterday seems to have bee spot on ...oh and TWTR's lock-up was "NOT" priced in... 1114 is the most important number of the day (the 200DMA for the Russell 2000)

 

Well that is not what we should expect on a Tuesday...

 

With USDJPY tracking stocks (but this latest flush looks more stock-centric)

 

As stocks track yields lower

 

Wondering where stocks will end?

 

 

TWTR lock up not priced in... despite what all the experts said eh?!

 

An odd coincidence of collapse... with Pandora

 

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Tue, 05/06/2014 - 14:10 | 4732675 ParkAveFlasher
ParkAveFlasher's picture

Thanks for "blowing up the spot", Tyler. 

Tue, 05/06/2014 - 14:12 | 4732685 StacksOnStacks
StacksOnStacks's picture

...and we're off the lows...

Tue, 05/06/2014 - 14:33 | 4732782 Wolferl
Wolferl's picture

I knew it. Joe Weisselberg at BI did a post about the "Money Tuesday" about a week ago. The guy is a walking contrarian indicator.

Tue, 05/06/2014 - 15:20 | 4733000 spastic_colon
spastic_colon's picture

its all being saved for tomorrow and thursday in order to make sure the psychological "fed is awesome" theme stays intact.....the bad bowl cut speaks both days.

Tue, 05/06/2014 - 15:22 | 4733011 Headbanger
Headbanger's picture

And it's not gonna help this time cause the war is on and fear is about to over power what little the Fed can do now cause they're saving their own ass!

Tue, 05/06/2014 - 15:27 | 4733029 spastic_colon
spastic_colon's picture

notice the choreography as yellen speaks on every non-POMO day in May

 

:::: : : ::: :::

Tue, 05/06/2014 - 15:39 | 4733105 Headbanger
Headbanger's picture

Won't matter.

Cause it's "sell in May and walk away" to the Hamptons time now!

Wall Street knows the market is about to implode now with the Fed tapering, the consumer tapped out and WW III starting.

So say AMF to this five year bull market.

Tue, 05/06/2014 - 15:43 | 4733137 spastic_colon
spastic_colon's picture

awwww......you're just tryin' to get my hopes up!

 

:::: : : : :::

Tue, 05/06/2014 - 15:59 | 4733243 Headbanger
Headbanger's picture

Closing at the lows of the day you mooks!

Sofa king funnay!!

Tue, 05/06/2014 - 14:12 | 4732680 agstacks
agstacks's picture

#NotSellingMyShares

Tue, 05/06/2014 - 14:17 | 4732718 astoriajoe
astoriajoe's picture

better use those hash tags while you can:)

Tue, 05/06/2014 - 14:12 | 4732682 order66
order66's picture

These latest up moves have been almost identical to that part in a fight where you hold your barely standing opponent's chin up with your left so you can land the haymaker. #rigged

Tue, 05/06/2014 - 14:12 | 4732689 Ness.
Ness.'s picture

And the lows are now in.  Nothing pisses off K-Hen more than a bearish ZH post.  

Tue, 05/06/2014 - 14:51 | 4732877 Peter Pan
Peter Pan's picture

What, we are not expecting a ramp up in the closing half hour?

Tue, 05/06/2014 - 14:12 | 4732690 orangegeek
orangegeek's picture

S&P500 forecast to roll over last week.

 

http://bullandbearmash.com/chart/sp500-hourly-tanks-early-recovers-test-...

 

Isn't it interesting when the Fed cuts it's printing?

Tue, 05/06/2014 - 14:13 | 4732694 TheRideNeverEnds
TheRideNeverEnds's picture

Ticks just reversed on this post, hammer bottom on the 15 min; the bottom is in.

20 point reversal into the bell incoming

buy buy buy!

Tue, 05/06/2014 - 15:36 | 4733096 Squid Viscous
Squid Viscous's picture

Well... we're waiting, clown!

Tue, 05/06/2014 - 16:55 | 4733503 TheRideNeverEnds
TheRideNeverEnds's picture

Hey man, I was right about the bottom wasn't I?   I bought in a few here at 65 from 80, fifteen points aint bad; hopefully the worst cover I ever make. 

 

My call for tomorrow is that we will go higher, unless we go lower...

Tue, 05/06/2014 - 14:15 | 4732704 starman
starman's picture

Im sure "Kreamer" will have the answer! 

Tue, 05/06/2014 - 14:43 | 4732793 HardlyZero
HardlyZero's picture

Creamer the clown is for wimps and entertainment only, and CNBC market fluffer, we gotta take our shorts black from now on.

Tue, 05/06/2014 - 14:35 | 4732801 buzzsaw99
buzzsaw99's picture

Don't you love a farce?

My fault, I fear

I thought that you'd want what I want, sorry my dear

But where are the clowns?

Send in the clowns

Don't bother they're here

Isn't it rich?

Isn't it queer?

Losing my timing this late in my career

But where are the clowns?

Send in the clowns

Well, maybe next year

Tue, 05/06/2014 - 14:24 | 4732745 SheepDog-One
SheepDog-One's picture

401k bathrobe brigades, prepare to get corn holed.

Tue, 05/06/2014 - 14:33 | 4732774 buzzsaw99
buzzsaw99's picture

TWTR insiders never heard of super secret options action ahead of the lockup period? WTF? WTF a red pomo day? WTF WTF???

Tue, 05/06/2014 - 14:40 | 4732823 HardlyZero
HardlyZero's picture

Look at the TWTR volume today...the stock woke up and fell off the bed.   She's going down Jim, twittering on her knees.

Tue, 05/06/2014 - 14:34 | 4732786 SheepDog-One
SheepDog-One's picture

Time to flip the script, now we're on to Wonderful Wednesday, Fabulous Friday, whatever.

Tue, 05/06/2014 - 14:36 | 4732806 Bernoulli
Bernoulli's picture

Wake me up when TWTR "trades" at 2 dollars a share (then it's still not a buy, but just for the fun).

Tue, 05/06/2014 - 14:41 | 4732831 gatorengineer
gatorengineer's picture

< Last hour Ramp

< Last hour Dump

 

I dont see it staying here.....

Tue, 05/06/2014 - 15:28 | 4732851 HardlyZero
HardlyZero's picture

NBI has exited a small wedge and started its little ramp (we shall see)...that and the TWTR.

 

Is TWTR a way to "sacrifice" a stock by TPTB and then make the overall market 'done' dropping ?  A kind of reverse psychology.

Tue, 05/06/2014 - 15:12 | 4732972 Bernoulli
Bernoulli's picture

Some may be waiting for the 330 ramp to sell "afterwards"... but if there is no 330 ramp, then it'll go downhill fast til close...

Tue, 05/06/2014 - 14:43 | 4732839 wagthetails
wagthetails's picture

still plenty of daylight left.  i guess the Fed is actually going to have to work today, back to the office boys, get this green by 4pm.

Tue, 05/06/2014 - 14:44 | 4732845 HaroldWang
HaroldWang's picture

Little early to be declaring Super Tuesday dead. They can turn this green in the last 10 minutes of the day. Might want to hold off on victory call for a bit.

Tue, 05/06/2014 - 14:55 | 4732899 HardlyZero
HardlyZero's picture

Agree...but TWTR down 16% and high volume.

Tue, 05/06/2014 - 15:03 | 4732941 Soul Glow
Soul Glow's picture

Is that company pronounced twatter now then?

Tue, 05/06/2014 - 14:57 | 4732867 Soul Glow
Soul Glow's picture

Where are the Space Monkeys to tell us stocks are going forever higher?  Space Monkeys - and it's Tuesday!

Tue, 05/06/2014 - 14:54 | 4732890 TumblingDice
TumblingDice's picture

Ho-hum, still awaiting an actual trend for 2014. This market has been a relentless whipsaw. Like a fat kid running up the down escalator. 

Tue, 05/06/2014 - 15:05 | 4732946 Soul Glow
Soul Glow's picture

The dollar is down a little over 1% so there is that too.  Remember to price assets in dollars with real terms not just nominal.

Tue, 05/06/2014 - 15:19 | 4732997 TumblingDice
TumblingDice's picture

Well, to add to the confusion, dollar is down 1% and gold is...down as well. To me this all seems like the no EU QE trade now than anything. Things *might* settle after the ECB meets.

Tue, 05/06/2014 - 15:38 | 4733103 Soul Glow
Soul Glow's picture

Gold is up 7% on the year.  This isn't your first rodeo, is it?

Tue, 05/06/2014 - 14:54 | 4732892 jmcadg
jmcadg's picture

Ramp up unlikely as I'm positioned for it!

Tue, 05/06/2014 - 14:55 | 4732904 Eyeroller
Eyeroller's picture

My 20 year old daughter came to visit me today.  I asked her if she uses Twitter anymore and she said "hardly ever".  She was heavily into it in 2009.  She says she uses FB and Instagram all the time now.  Her words:  Twitter is going to go the way of  Myspace."

I'm an old fogey and the only I use is FB...

Tue, 05/06/2014 - 17:37 | 4733686 1stepcloser
1stepcloser's picture

I'm an older fogey...if you want to know what I'm thinking or doing...and you currently don't know...that's the way I want it.  I use no social media services.  

Tue, 05/06/2014 - 16:09 | 4733290 Squid Viscous
Squid Viscous's picture

but who will tweet all the talking head Twats on CNN and PMSNBC, they seem to live for that... #RandomMSNBCHebe

Tue, 05/06/2014 - 19:54 | 4734137 Cortez
Cortez's picture

Twitter is for journalists, athletes and celebs.  I bought TWTR this afternoon for a quick deadcat bounce.

Do NOT follow this link or you will be banned from the site!