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When "Turbo Tuesday"... Fails
The streak is over! US equities suffered their biggest Tuesday loss in over 6 months today. Despite the same valiant attempt to ramp stocks after a weak open (using JPY and VIX) as yesterday, Turbo Tuesday turned out to be tepid tumbling Tuesday as high-beta hopes were dashed amid little to no macro or event risk news. Yesterday's dead cat bounce in yields appears to have been just that and stocks tracked them lower all day (and disconnected from USDJPY mid-afternoon as it was unable to break 101.50). The Russell was the worst performer (along with NASDAQ) as the broad index closed below its 200-day-moving-average for the first time in 18 months (after 7 false alarms in the last 2 weeks). Away from stocks, credit spreads widened, bond yields dropped, the USD sold off 0.5% to 19-month lows, commodities were generally flat (gold +0.65% on the week), and VIX closed +0.5 vols near 14. Welcome to "Torpedo Tuesday"
The Dow is down 0.9% year-to-date and down 7.12% if it were not for Tuesdays... Worst Tuesday in almost 7 months
Stocks dipped-and-ripped again at the open - but failed this time... and despite best efforts to rally into the close - ended weak
The Russell 2000 closed below its 200DMA for the first time in 18 months... (after 7 false alarms in the last 2 weeks)
Stock tracked the long-bond all day
And mostly clung to USDJPY til it hit 101.50
Notice they tried desperately to ramp stocks with a VIX slam after Europe's close (and failed)...
As the USD Index dropped themost in a month and fell to 19 month lows... as Goldman said "Price action has gone decidedly against us on our strong Dollar call... and blamed China for USD selling"
Twitter was twatted...
And oddly caught down almost perfectly to Pandora's weakness off the Tarullo top...
Charts: Bloomberg
Bonus Chart: "Costs"
Bonus Bonus Chart: The Top 10 Wall of Shame TWTR analysts...
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I'm sure this will cause another massive Silver take down.
Blame me as I bought yesterday.
My Chinese neighbor tell me number 8 Tuesday most lucky of all number ... what an asshole.
You have failed me for the last time, Kevin Henry! *shakes paw*
What does Goldman's "Buy/Neutral" rating mean?
Something like, "Buy it. Or not, I guess -- our analysts were only given 140 characters."?
It means that naturally we expected whatever will have happened.
Only in april.
in summary, there is nothing left to leverage (as it appears with the vix slam and the usdjpy takeoff attempts). and when that happens.............
I like it when the Panty Streak ends.
Whatever, the rip up will happen on Wednesday instead. Big deal.
Turbo-tastic!
Turbonado!
Here comes Widowmaker Wednesday!
Followed by Grab Yer Ankles Thursday.
Tomorrow is Janet, so bullish.
No POMO though?
Well at least the market closed off the lows... oh yeah, it didn't did it?
How the hell is this market up so high when every fucking stock seems like it's getting obliterated?
The BLS is doing stock indices now ?
I feel pretty confident that they have been liftng the indexes for a while despite most components in the index dropping. How they are able to net that out I have no idea. So yes, I feel strongly about it and can't back it up one bit.
great questions. probably just take the largest components and keep them floating while all other turds get flushed???
You know more about it than I do. S&P 500 yr to date
apparently I don't. Great chart, thanks.
Eeerrr...it's easy. The FEDs are buying stocks - with printed money...obviously!!!
With seaonal adjustments.
I thought sth similar. Kept watching my list over the last hours and this is what it showed at the end:
GOOGL 522.57 -2.38%
AMZN 297.38 -4.09%
AIG 50.54 -4.14%
TWTR 31.85 -17.81%
IBM 190.03 -0.64%
TSLA 207.28 -4.31%
P 22.52 -8.94%
LNKD 142.33 -5.69%
YELP 52.13 -13.39%
JPM 53.34 -1.62%
AAPL 594.41 -1.09%
CAT 103.87 -0.62%
PCLN 1,168.36 -1.95%
All Nasdaq stocks deep red including some HEAVY WEIGHTS. Billions of market cap wiped out today.
But Nasdaq -1.38%?!?! WTF?!? How is this possible? Which stocks went up?
Oh and GS recommends buying AMZN now, because we're in a "tactical market" says CNBC...
Is this the point where everything comes undone?
Two sets of books?
timberrrrrrr tuesday
Did it snow today?
I'm guessin' Virtu, JPM, and possibly Goldman and others probably made money today.
Tick tock ........
...motherfuckers!!!
This is the market we have today. When buying the market "cause it's Tuesday" is a valid reason to be in.
What!? Twatter at $31.75? Quick, get some Vagisil!
It's like homes and consumer spending, you need INCOME!
There is a tragic lack of INCOME and EMPLOYMENT!
Thanks for selling us all out BOYS!
Fucking Ponzi.
End the FED.
lol - Cramer convinced me to hang on to my remaining piece of Twat yesterday am, thanks dickface!
Always do the opposite of what cramer advizes, that way you know which way is right. Worked with my mom some 35 years ago and I never regreted it, they carry the same torch.
No, no no! That is all wrong. Never do what Cramer says. Do the opposite. Cramer is for those fools that think its all sunshines and rainbows.
If he was as good as he pontificates, them he would be IN the market and not making more money talking about the market.
I was born a rebel.
Well, the Fed has been supporting that market for quite awhile now. Eventually people have got to realize that their stocks only have value once they are sold, and if the Fed and the companies themselves are the only buyers out there, the pressure to unload before the whole thing tanks is going to be greater than any support they can give. At this point, there are still profits to be take, and a lot of people may decide that a bird in the hand is worth more than 2 in the stock market...
...any day that ends with a Y... is a good day to buy a 1% dip...because these fuckers aren't done with the shenanigans...
i guess you didn't get the memo? the "turbo tuesday" have changed to "turbo monday"
I'm starting to think someone in command and control actually reads this blog. Congratulations guys you may have gotten turbo tuesdays moved to Windfall Wednesdays.
because, you know, the markets not rigged.
tits up tuesday
Rehyturbinated.
My Fiat Port:
TZA, DDD, NUGT
Life is good.
Yet TVIX only up .02 Those guys are criminals.
So What? Watch what they do to AAPL as an exmple of what they have in mind.
Or, is Yelp the example? One inside Owner walked away while selling hard. A little selective for a riot, but a riot starts small, and the crowd may shock us. Watch Alababa for a sign of the storm's possible size, and it may take a couple of months for it to blow up. Could be the accident of the year, or years. No one knows what will happen once it is realized that the Fed fade has just started. The story will unfold on Yahoo if you did not guess.
Tuesday Turds.
BULLISH! oh wait...
Boooo...and Wednesday is 'no POMO Wednesday' right?
I was promised an 'up' market dammit...where is the Fed when the little guy needs 'em?
All this to prove ZeroHedge wrong.
"broad index closed below its 200-day-moving-average"
Shit just got real. If you pull up any graph of any stock you want, you can see the moving averages often give fair warning before a serious decline. 50 day is your first warning. 100 day is your second warning. 200 is when the lights are flashing red and sirens are screaming. Sure it could go back up, but it usually doesn't.
You should post a weekly hall of shame - that would be fabulous
Is the PPT just moving to another day? Perhaps tomorrow.
See what happens when you don't POMO?
Kkkhhhaaaannn!
Waterfall Wednesday.
"The Markets" un-rigged signal = Dow down 400 "curbs in".... Hurry Hurry, and trickle that.