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Stocks Slide, Erase All GDP Gains

Tyler Durden's picture
Submitted by Tyler Durden on 07/30/2014 10:04 -0400



 

Well that didn't last long...

Desk chatter of large institutional selling and concerns over a forthcoming G7 statement on Russia are being blamed for now...

 

 
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Wed, 07/30/2014 - 10:07 | 5022356 pods
pods's picture

Stocks: "Please Mr. Yellen, don't take away our punchbowl."

pods

Wed, 07/30/2014 - 10:21 | 5022431 Sudden Debt
Sudden Debt's picture

You've been fucked and like every good fuck, it only took 5 minutes.

Wed, 07/30/2014 - 10:23 | 5022434 espirit
espirit's picture

Russia being blamed for the 'weather'?

Damn, they're good.

 

Wed, 07/30/2014 - 10:30 | 5022459 Sudden Debt
Sudden Debt's picture

We're having a pretty normal weather here actually...

besides the sudden mega showers and flash floods and floodings...

and the tennisball hail...

we just go from 34°C to 15°C and up to 34° about every other day and it's making people sick.

 

Wed, 07/30/2014 - 10:35 | 5022477 Headbanger
Headbanger's picture

Yeah well the massive solar flare will put and end to all that when it melts your car.

Wed, 07/30/2014 - 10:39 | 5022503 Obchelli
Obchelli's picture

ZH just jinxed the decline now going back up. Financials are UP and hat what drives everything else

Wed, 07/30/2014 - 10:48 | 5022530 Headbanger
Headbanger's picture

Nope

You just jinxed the jinx which cancels the original jinx so financials implode even faster.

That's just how it goes..

 

Rut roh..

Sum Ting Sofa King Wong!

Wi Tu Lo!

 

Wed, 07/30/2014 - 10:11 | 5022362 Dr. Engali
Dr. Engali's picture

Well Greenspan in his infinite wisdom did warn us........ Now open up your MiyRa and stock up on treasuries bitchez!

Wed, 07/30/2014 - 10:14 | 5022402 LawsofPhysics
LawsofPhysics's picture

...says your local "representation" with a gun pointed at your head.

Wed, 07/30/2014 - 10:32 | 5022465 Sudden Debt
Sudden Debt's picture

He can hire cheap Mexicans to do that for him.

Wed, 07/30/2014 - 10:08 | 5022364 SHEEPFUKKER
SHEEPFUKKER's picture

Rejoice, we have another opportunity to BTFD of the FATH in case you missed the last 1% dip. 

Wed, 07/30/2014 - 10:10 | 5022381 ENTP
ENTP's picture

Anybody that's been paying attention knows VIX will get creamed later today and stocks will follow.

Wed, 07/30/2014 - 10:28 | 5022452 Amish Hacker
Amish Hacker's picture

Or just goose the USD/JPY and up they go again. Is this a great market or what?

Wed, 07/30/2014 - 10:32 | 5022469 Headbanger
Headbanger's picture

Not so fast farm boy.

DXY is still blasting higher.

http://www.marketwatch.com/investing/index/DXY/charts?symb=DXY&countryco...

 

Wed, 07/30/2014 - 10:09 | 5022366 Jahbulon
Jahbulon's picture

FUCK FUCK FUCK FUCK

Wed, 07/30/2014 - 10:09 | 5022367 Xibalba
Xibalba's picture

seems like all they care about is forex and gold anyways

Wed, 07/30/2014 - 10:09 | 5022372 NYPoke
NYPoke's picture

#Krugmanned

Wed, 07/30/2014 - 10:09 | 5022374 Bosch
Bosch's picture

So GDP was that good but earnings still sucked that bad? 

Wed, 07/30/2014 - 12:59 | 5023127 TeethVillage88s
TeethVillage88s's picture

Gross GDP must grow by 5.366% = $913B each year to keep UP with Federal Budget Spending.

So like the Jesuits, they make it happen. The end justifies the Means.

And this explains why some FRED Charts are not updated to the current quarter, they DISCONTINUE some charts, and don't update other charts for no known reason on sector jobs like All Employees series.

Of course next year Federal Budget Spending increases again exponentially, so annual GDP will have to grow by more than 5.37%. Lies upon Lies.

Wed, 07/30/2014 - 10:10 | 5022379 Al Huxley
Al Huxley's picture

Whew!  I was afraid there wasn't going to be a dip to buy, but luckily they came through.  I'd like to be able to subscribe to Yellen Capital's premium service, as I understand they'll send out alerts about these kinds of things minutes before they occur, so you can profit on the short AND long side, but its out of my price range - I think they charge like a billion a month, and there's some obligation to deal bonds that goes along with it - pretty sweet deal if you can afford it, though. 

 

Still, can't complain, in this economy I'm just happy to have a dip to buy.

Wed, 07/30/2014 - 10:11 | 5022380 LawsofPhysics
LawsofPhysics's picture

The bluff is being called, QE can end, but interest rates cannot rise, period.

Wed, 07/30/2014 - 10:15 | 5022406 SHEEPFUKKER
SHEEPFUKKER's picture

That's the beauty of our new besties in Belgium. 

Wed, 07/30/2014 - 10:17 | 5022412 Hohum
Hohum's picture

LoP,

Spot on.  After all, drillers in the Bakken are borrowing hand over fist to keep production rising.  Higher interest rates might kill that dream.

Wed, 07/30/2014 - 10:23 | 5022438 Dr. Engali
Dr. Engali's picture

Exactly, we will never see a Fed funds rate above 1% again.

Wed, 07/30/2014 - 13:03 | 5023140 TeethVillage88s
TeethVillage88s's picture

Yes, clearly can't ever go above 4%. So I think you might be right.

Next they have to cover up government statics by not updating FRED Charts.

http://research.stlouisfed.org/fred2/series/CP/ (Last update 1-1-2014)

Wed, 07/30/2014 - 10:12 | 5022392 konputa
konputa's picture

Can I have punch from the punchbowl without the turd?

Wed, 07/30/2014 - 10:14 | 5022400 ghostofgo
ghostofgo's picture

I think the gains were priced in.

Wed, 07/30/2014 - 10:14 | 5022401 icanhasbailout
icanhasbailout's picture

BTFZHP

Wed, 07/30/2014 - 10:17 | 5022403 christiangustafson
christiangustafson's picture

Point of recognition ...

And the Yen is breaking through chart support.

 

Wed, 07/30/2014 - 10:15 | 5022405 Traderone
Traderone's picture

Just the gap closing , buy now for LARGE profits.

Wed, 07/30/2014 - 10:16 | 5022411 El Hosel
El Hosel's picture

Please help wall street... Bag holders Wanted.

Wed, 07/30/2014 - 10:16 | 5022407 oklaboy
oklaboy's picture

musttttt....hhhaavvveeee...another..shot...of...hopium...

Wed, 07/30/2014 - 10:19 | 5022425 froze25
froze25's picture

I trust the nubers published.

I don't trust the numbers published.

Wed, 07/30/2014 - 10:24 | 5022440 orangegeek
orangegeek's picture

The Fed is cornered.

Wed, 07/30/2014 - 10:29 | 5022453 espirit
espirit's picture

But they still have at least one printing press left.

Wed, 07/30/2014 - 10:32 | 5022463 orangegeek
orangegeek's picture

and if the Fed turns it on, markets up another 10% and inflation up another 10% (repackaged at 1%)

 

and they know it

 

77M Americans in collections turns to 150M Americans in collections

 

so yellen could fire up the printer, but not likely

Wed, 07/30/2014 - 11:00 | 5022593 El Hosel
El Hosel's picture

Yeah, they are in the corner of the 1%... with everybody's money. Mission accomplished, all the Masters made whole now bring on the crisis. 

Wed, 07/30/2014 - 11:51 | 5022848 Goldbugger
Goldbugger's picture

If you believe that GDP number i have some swamp land in Florida i would like to sell you.

 

http://investmenttools.com/futures/bdi_baltic_dry_index.htm

 

 

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