Stocks Slide Into The Red For The Week

Tyler Durden's picture

Overnight weakness following The World Bank downgrade, China's flip-flop on CNY and failed auction, Cantor's 'compromise-shattering' loss, appeared to be stabilized by a levitating USDJPY but when the budget deficit hit (as expected) it appears the market was hoping for a bigger deficit (and thus more to monetize and moar QE). Stock are diving lower with Trannies worst along with the Russell 2000 -1%. CNBC is already discussing if this is the pullback to buy for the next leg higher in stocks as money on the sidelines floods in...

 

Stocks drop to red for the week...

 

With USDJPY 102 in charge...

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order66's picture

Ummm....that's not allowed.

Headbanger's picture

Sum Ting Wong!

 

Sum Buddy Havtu Sei.

Dr. Engali's picture

The world is in chaos with shit blowing up everywhere. The red team is in disarray and the blue team is running away from zero as fast as they can. Demand is low, Unemployment remains elevated, we have overcapacity issues in every sector of the economy, and debt levels have never been higher. It seems to me that the only logical option is to BTFD. Wall of worry bitchez!

Edit: did I forget to mention oil............?

LetThemEatRand's picture

"The world is in chaos with shit blowing up everywhere. The red team is in disarray and the blue team is running away from zero as fast as they can. Demand is low, Unemployment remains elevated, we have overcapacity issues in every sector of the economy, and debt levels have never been higher...."

Other than that, Mrs. BernYellen, how was the play?

MisterMousePotato's picture

I am not in the habit of giving (you, especially) happy up twinkles for droll cynicisms, but I gotta say, "Bon mot, Sir. Bon mot."

JustObserving's picture

Kevin Henry is on his summer vacation?

stant's picture

Blood in the streets

Winston Churchill's picture

Will settle for just Liberty St.

duo's picture

no, the Dow stocks are waiting for the latest round of cheap debt to get funded so they can buy back more of their own stock.  It takes a few days.

firstdivision's picture

I thought there was a terrorist attack with all the sirens going off, then noticed it was coming from the NYFed.  Prepare for a sell-off in vol

Hohum's picture

It is interesting that May 2014 nominal federal revenue is barely above May 2013 nominal revenue--less than 1%.  Time to double check that spring recovery.

Ness.'s picture

Normally a bearish post from Tyler is the bottom - here's hoping I'm wrong.  

Hindenburg...Oh Man's picture

No you're not. The moment they posted was pretty much the bottom. It's eerie. Someone is f-ing with us. 

buzzsaw99's picture

oh noes! omg omg oh noes!

The worst trader's picture

End the fed so we can get back to real trading!

NOTaREALmerican's picture

The Fed sent out a world-wide broadcast 5+ years ago on exactly how to trade.     They said:  we're buying everything,  guess what you should do?   

Sticky Wicket's picture

Stocks in the red? Sounds bullish to me.

pound the vix's picture

It's OK Al-Qaeda has $400 Million to invest in the S&P 500 (cash on the sidelines)

 

Winston Churchill's picture

Silly, who do you think dropped the gold price with $400m this lunchtime.

daveO's picture

Cantor got beat. Momentarily deflationary. 

NOTaREALmerican's picture

If the heroic traders can weather this storm I predict an upsurge in confidence as the skys clear and the seas calm.  

Tune in for all the economic weather news,  here on your Zero New channel. 

ptoemmes's picture

Damn...might have to put my DOW 17000 and S&P500 2000 hats back in the drawer.

Hindenburg...Oh Man's picture

You'll get to wear them this week, so if you put them in the drawer, place them on top of something.

Eyeroller's picture

Pump should start any second now...

TheRideNeverEnds's picture

we know how this movie ends, just buy the dip; its free money with zero risk.  

Yen Cross's picture

    Here comes the BTFATH team.

TabakLover's picture

Dang ZH..... you missed the low of the day on the SP by 6 mins with this news.  You're not Dennis Gartman..........not yet.

Spungo's picture

Since Europe set negative interest rates, this might be a good time to buy European stocks. The ishares Europe ETF is ticker IEV. Large companies will probably borrow money for next to nothing and pay it out to share holders in the form of dividends and buybacks.

If would be pretty cool if we had negative interest rates too. I could buy the SPY and watch it go up another 40% for the reason stated above.