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When 'Memes' Fail - Worst Dow Tuesday In 7 Months
It began with JPY technicals and peripheral European weakness then US Retail earnings started it, Plosser extended it (rate hike sooner), then Dudley slammed it (terminal rate lower than normal)... Turbo Tuesday became Terrible Tuesday - only saved by the apparent BTFWWIII effort after Russia test-fired ICBMs. This was still the worst Tuesday for the Dow in 7 months. Despite the best effort of someone to lift VIX amid the turmoil and rescue stocks, things ended red and ugly for the Russell. USDJPY clung keenly to its 200DMA around 101.25 but stocks were manacled to bond yields on the day. Stocks crumbled back to credit markets un-exuberance from yesterday. Gold and silver recovered from an early slamdown to close higher as the USD trod water... and volume was above average.
Correction: pic.twitter.com/iqepXRkXNM
— Not Jim Cramer (@Not_Jim_Cramer) May 20, 2014
When everyone knows...
Turbo Tuesday becomes Terrible Tuesday... Worst Dow Tuesday in 7 months
The day in stocks...
Stocks tracked bonds
and disconnected from USDJPY when it stabilized around its 200DMA
Yesterday's short squeeze unwound in a hurry...
Stocks cracked back down to credit's reality...
VIX tried its best to save the day...
As someone decided to sell a metric shit-ton of VXX just after Russia launched its ICBM..
Charts: Bloomberg
Bonus Chart: VIX futures and credit markets are not in agreement...
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Tuesday's gone...
"Toto, I don't think we're in Tuesday anymore."
Old Yellen, Old Yellen!?!???
Fetchez la vache!
Didn't you guys get the memo? Mondays are the new Tuesdays!
Goodbye Ruby Tuesday
www.youtube.com/watch?v=a00_tPLcE_g
"You'll be priced out of the market if you don't buy now!"
Oi vey.
"Stopped out" is more like it.
A better headline would be "shorts make money for first time in five years. Feel confident they won't be utterly obliterated tomorrow as well." (Cue "wincing" and Pete Puma.)
too many trying to unload overpriced junk on a day they know there is money sloshing around...
i get it, but what are they going to do with cash?
short gold?
How'd you like to be the shithead who dumped 500 million in gold this morning - lousy 7 buck break, and it bounces right back anyway. Now the poor bastard's got a half-billion $ short position sword of damocles hanging over his head, and is probably going to have to blow some inbred old-money Eurotrash troglodyte or fuck a goat before they give him the necessary credit to double-down that bet tomorrow.
+1 for the rant, Al but my strong sense is that whoever made that trade is taking no risk at all: any losses covered with freshly created digi-bucks.
fed proxy trade in the land of billion dollar floats. long goats though...
I know, just felt like ranting..., still shitty return on 1/2 billion, even if it's 'free money'
put a smile on my ugly face:)
fucking gold bullshit; meme out to sell, not sure what will suport it(seriously)...
thinking just north of 1100, with massive buying at 1090...JMFO
Well lets see what the japanese bring tonight. No printy gold gets smacked... we see
Hey look - the guy who's holding the short position must have read this! So tell us, do they let you bring your own goat, or do they supply one? And is it true that those old money illuminati types have reptile scales on their dicks?
wait for the firesale after the collapse? trade it for some tangible assets? yeah, no easy answer, unless you have access to the script.
cash still holds some alure, but not shining, never the less, with no sure thingy, inflection, tipping, waiting for signals, wondering, dumbfounded, deer in headlights, or just plain don't really give a fuck(me), i'd be a tad nervous and let bonds
do the talking(voice in my head saying is it true?)...
Famous movie quote seems right --- Canned food and shotgun shells....
LOL all so wildly broken.....and does anyone really doubt they'll regain it all + some more tomorrow ?
its called "trapping the dumb money"
Or in Michael Jacksons words: "This is it"
http://www.youtube.com/watch?v=W_SLU3m6uCA
Establishment money out -- check
Bagholder (AKA retail investor) in -- check
Fire lit -- check
Doors locked -- check
Another fine crime.
They tried to pound the vix but too many hamptonites worried about paying for $20 cosmopolotans this weekend.
" sell in May and head for the friggin hills!"
So perhaps this meme will go the way of the dodo.
Target Fires the Canadian CEO:
http://finance.yahoo.com/blogs/breakout/target-give-canadia-chief-the-co...
Cripes! What was that all aboot??
I guess they were reading zh and got pissed off over the empty shelves pics.
make way for "Warp speed Wednesdays"
Before we get too *CNBS-excited*: let's also remember the VIX couldn't break out to save its life, DJIA closed off the lows and only down -89bps (Only down a little over 1% for the year) and tomorrow, they will make up everything and then some. Call me when we do some major technical damage.
The DIX indicator is flaccid.
I blame the new Fed chair!
Fucking right - get out the rotten tomatoes.
The arse fell out of Spanish and italian bonds AH Spain to the LOD at 3.13% and Italy 3.28% remember that these were 2.832% and 2.885% just last week...
The ECB will have to step in early if they are to stop these falling out of bed tomorrow, Greece and Portugal were also under pressure but not so important
Italy also fell below 20000 on the FTSEMIB yesterday, but bounced back over, and today the Nikkei fell below 14000...also Shanghai closed barely above 2000...
There certainly seems to be cracks appearing in various places...
Two out of the last three Tuesdays were down triple digits...of course the other one was the all time highest level in the history of forever.
3996? 3996? do I hear 3996?
Whiskey Dick Tuesday?
Man, they really defended the market at 2, 3, and 3:30. Interesting that they had either shot too much of their collective loads or couldn't keep it up past 3:45pm. How come coordinated selling doesn't start at the bottom or tops of the hour--it only seems to be coordinated buying to save the markets (with the 3:30 being the classic daily event)?
Just Yellen squeezing her knees on the indices, McClellan standing still - which it does just before a spike in either direction, normally I'd expect down but these days down is not allowed, so wotever dudes. Expect something dramatic tomorrow or Thursday.
running on freshly printed money vapor...
ooooowwooo, that smelll !
we had a sort of bounce early and then nothing but down after as expected on Monday
http://bullandbearmash.com/chart/dow-jones-hourly-bull-channel-expect-mo...
should be down for the rest of the week - link to analysis above
Well the "smart" money pulled out early, due to a three day weekend coming up. That and nice weather, it's simple really. Next Tuesday will be a different story.
I recall a Tuesday that is probably a more accurate representation of current market status. There is no limit all this expansion
https://www.youtube.com/watch?v=RJpLMvgUXe8
Massive short squeeze underway early, Dow just lept 50 points BTP futures up 100, DAX 60 FTSEMIB 250 ! IBEX 100 shorts anhilated and this before 9:00 am