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Dow Drops 300 Points: Turns Red For 2014

Tyler Durden's picture


Well that escalated quickly...


The Dow just dropped below the 16576.66 closing level for 2013... breaking both the 50DMA and 100DMA...


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Thu, 07/31/2014 - 15:30 | 5028759 nink
nink's picture

Take the money and run

Thu, 07/31/2014 - 15:36 | 5028825 svayambhu108
svayambhu108's picture

Run forest, run, run to the forest, for the rest will come later 

Thu, 07/31/2014 - 15:40 | 5028851 SumTing Wong
SumTing Wong's picture

Maybe my shorts will finally make me some cash...after losing so much along the way...eventually I'll be able to keep my head only slightly below the water. 

Thu, 07/31/2014 - 15:43 | 5028869 Say What Again
Say What Again's picture

I'm studying for an econ-stats quiz.  Would the returns on the SP500 be considered a Stationary or Non-Stationary Processes? </sarc>

p.s.  I don't know about your shorts, but in my neighborhood, the ladies make more money with their shorts off.

Thu, 07/31/2014 - 15:52 | 5028935 gh0atrider
gh0atrider's picture

Buh lots of Bitcoin and you shall never want.

Thu, 07/31/2014 - 16:03 | 5029013 Hero Protagonist
Hero Protagonist's picture

Just setting up shorts for slaughter unfortunately...I've seen this movie.

Thu, 07/31/2014 - 16:05 | 5029037 Pure Evil
Pure Evil's picture

That's what happens when you come out with good economic numbers.

Should have come out with negative numbers the Dow would have climed 3000 points.

Thu, 07/31/2014 - 16:09 | 5029066 mt paul
mt paul's picture

tough day

in Econistan ...

Thu, 07/31/2014 - 16:09 | 5029075 Mentaliusanything
Mentaliusanything's picture

UNPOSSIBLE.... MORE QE Drug needed..Mainline it Yellen

Thu, 07/31/2014 - 16:35 | 5029263 Tall Tom
Tall Tom's picture

Need MOAR QE from the HOAR.


Must have MOAR, HOAR, so the Dow will soar.


MOAR...Must have MOAR...

Thu, 07/31/2014 - 16:41 | 5029296 CheapBastard
CheapBastard's picture

"No one saw this coming."

Thu, 07/31/2014 - 21:20 | 5030579 balolalo
balolalo's picture

WW3 can get going much faster than the other fast start, World War 1 ...and saddly much deeper than the deep cuts of World War 2.   

"those missles are getting kind of old, better use'em or loss'em" -some oligarchs whispering amongst themselves, untouchables and hidden 

where? True deciscions like this are made by gentlemen on the boat in places like St. Moritz, or sun bathing in the Hamptoms,  (where's golfing obama going these days?)

Secret meetings with orders to be doled out by the respective executives... looks like a deep culling from every angle is what has been offered to humanity by all parties.  

Arrogant Greedy Maniacs with tons of nukes, chems, plagues... and this time climate change/ecocide is in the mix

WW3 is gonna be a real clusterfuck, real fucking quick because some people don't want to take a haircut/border-cut. 

Thu, 07/31/2014 - 16:31 | 5029235 Tall Tom
Tall Tom's picture

Yeah. BTFD




Left (Right) Left (Right) Left Right Left

Left (Right) Left (Right) Left Right Left

Left (Right) Left (Right) Left Right Left


March right off of that fuckin' cliff.


It is a good...


Left (Right) Left (Right) Left Right Left

Left (Right) Left (Right) Left Right Left

Left (Right) Left (Right) Left Right Left


March onward into the abyss for your deserved destruction!!!


Yeah!!! Collapse baby collapse.


(Do not worry. It will bounce off the 200dMA. The Dead Cat is all but expected. There is still some life yet...for a short while.)

Thu, 07/31/2014 - 16:18 | 5029149 ChartreuseDog
ChartreuseDog's picture

You're confusing "ergodic" with erotic.


Thu, 07/31/2014 - 15:43 | 5028874 Divided States ...
Divided States of America's picture

looks like the Plunge Protection Team is on red alert right now


Purge Protection Team is relaxing over in Liberia.

Thu, 07/31/2014 - 16:36 | 5028965 Greenskeeper_Carl
Greenskeeper_Carl's picture

ya i was waiting for the 330 ramp, what the hell. my prediction is a further drop tonight then a nice ramp/short squeeze on friday. cant have it red going into the weekend. Also, a nice 1.6 bil gold dump early in the AM sometime.

Thu, 07/31/2014 - 15:43 | 5028876 flacon
flacon's picture

Join the suicide wagon with me and go long Gold here!

Thu, 07/31/2014 - 15:48 | 5028910 Say What Again
Say What Again's picture

Hey Tyler,  Can you set up a daily post where we can discuss the price of gold/silver coin/bar (bought & sold) transactions that are actually taking place?  I'm really curious to know the price people are getting on the bid / ask for PM at their favorite dealers.

Thu, 07/31/2014 - 15:54 | 5028949 Greenskeeper_Carl
Greenskeeper_Carl's picture

havent bought any gold lately, but im paying 24 for buffalos and generic bars, 25 for eagles, maples, philharmonics. i think the 10 ounce bars are a bout 230. thats all ive ben buying lately, anyway, not sure about junk silver or anything else

Thu, 07/31/2014 - 15:59 | 5028996 Tall Tom
Tall Tom's picture

Join this Forum and start a thread in the Gold Discussion Group...


Downside is that it has a Seven Day Waiting Period before you can post.


It is a motely crew over there and you cannot cuss and swear as it is moderated...but they are really good people...other than the trolls and shills.

Thu, 07/31/2014 - 16:15 | 5029116 unrulian
unrulian's picture

Join the suicide wagon with me and go long Gold here!

Right....that wagon lost lost its wheels and burst into flames a long time ago, i'll gladly lay in it's ashes with you

Thu, 07/31/2014 - 18:19 | 5029754 DeusHedge
DeusHedge's picture

i know what you mean

Thu, 07/31/2014 - 15:44 | 5028888 Headbanger
Headbanger's picture

Well fuck me for jinxing an earlier ZH post today saying I expected a bounce

Looks like the jinx rules work after all!

Thu, 07/31/2014 - 15:53 | 5028939 Say What Again
Say What Again's picture

You might want to look around your office for hidden cameras and microphones.  I know my office is bugged because everytime I place any order (buy or sell), someone "sees" me do it and then they beat me to the top of the book.  This is really getting me mad.

Thu, 07/31/2014 - 16:37 | 5029278 Headbanger
Headbanger's picture

No I think it's cause my tin foil hat has a few holes in it from banging my head on the keyboard so much'

Cause it feels so good when I stop!

Thu, 07/31/2014 - 22:00 | 5030863 espirit
espirit's picture

Told ya'll to exit yesterday and the reasoning why.

i.e. Banco Espirito, Argentinian default, Putin not importing US inflation, etc, etc.

Not to mention all the fucked up lies being told that noone can even keep track of.

I wouldn't even buy this dip with other peoples money.  

Thu, 07/31/2014 - 15:45 | 5028898 toady
toady's picture

After all the bad news this morning I was sure it would jump 300 or so. When is bad news good and good news bad? Sure glad I don't trades this shit.

Thu, 07/31/2014 - 15:51 | 5028926 Peak Finance
Peak Finance's picture

I am watching this bitch all day yawning and going, 


"ok where's the ramp"  "Any minute now!"


Truth is this 300 point loss will be a 7 point gain by Tuesday and almost full reverals by next Friday.


This bitch is NEVER going down, hyperinflation is the only exit. 

Thu, 07/31/2014 - 15:55 | 5028958 Rainman
Rainman's picture

Well done, brave soldier ! Carry on !

Thu, 07/31/2014 - 17:11 | 5029463 disabledvet
disabledvet's picture

Where are the peak oil freaks again?

Thu, 07/31/2014 - 17:31 | 5029545 zorba THE GREEK
zorba THE GREEK's picture

I'm going to invest in body bags. Something tells me there is about

to be a world-wide shortage.

Thu, 07/31/2014 - 22:01 | 5030873 espirit
espirit's picture

I with you on that one.

Thu, 07/31/2014 - 17:11 | 5029455 negative rates
negative rates's picture

How far can you run into the forest?


Only 1/2 way, the other 1/2 you are running out.

Thu, 07/31/2014 - 15:44 | 5028883 zorba THE GREEK
zorba THE GREEK's picture

The PPT  at the Feds trading desk will take the edge off that drop in the last 20 minutes of trade.

It is amazing what can be done when you have a money printer.

Thu, 07/31/2014 - 16:16 | 5029134 Goldbugger
Goldbugger's picture

Not this time,it's the real thing, the warning was sent out last week. I got the memo and sold,

Thu, 07/31/2014 - 15:44 | 5028894 Berspankme
Berspankme's picture

Should I buy the dipper?

Thu, 07/31/2014 - 16:06 | 5029040 mt paul
mt paul's picture

take the money give it to the old lady

let her strut away with it, in heels and a short little skirt


i'll just step back and enjoy the view...

Thu, 07/31/2014 - 15:31 | 5028764 Thought Processor
Thought Processor's picture



Long live Ron Burgandy- that quote never gets old.

Thu, 07/31/2014 - 15:33 | 5028797 Bosch
Bosch's picture

The one and only redeeming thing from that movie. 

Thu, 07/31/2014 - 15:38 | 5028822 Quus Ant
Quus Ant's picture

The street fight was epic, but would have been better with western bankers(western mafia) vs. russian mafia (eastern bankers).

Thu, 07/31/2014 - 15:37 | 5028827 JRobby
JRobby's picture

You did not benefit from the nap?

Thu, 07/31/2014 - 16:04 | 5029024 Thought Processor
Thought Processor's picture



Let us not forget the 'Afternoon Delight' musical interlude.


Or the Yazz Flute.

Thu, 07/31/2014 - 15:32 | 5028775 orangedrinkandchips
orangedrinkandchips's picture

Relax......This market is STILL MANIPULATED......nothing has changed!! it's all good still.


Kevin Henry might do some O.T.



Thu, 07/31/2014 - 15:37 | 5028828 huggy_in_london
huggy_in_london's picture

Nah the tipping point has been reached... they tapered, we got to barely any QE ... and now there will be a stampeed for the door in stocks and HY... watch the rush into bonds after the next 4 or 5% decline in spoos.  One last massive bond blow off to come.  

Thu, 07/31/2014 - 15:50 | 5028922 Dr. Richard Head
Dr. Richard Head's picture

Barely any QE unless you count discount window operations, ZIRP, Reverse-Repo, and Belgium.

Thu, 07/31/2014 - 16:41 | 5029298 css1971
css1971's picture

How big is QE these days? I haven't been paying attention for a few months. ...


When $55 billion a month isn't enough.

Thu, 07/31/2014 - 15:32 | 5028778 PlusTic
PlusTic's picture

REAL FUKKIN to me when we trade 1500 in SPX

Thu, 07/31/2014 - 15:32 | 5028780 pods
pods's picture

Maybe the DOW has Ebola?


Thu, 07/31/2014 - 15:34 | 5028790 Bosch
Bosch's picture

You know that your user name is posted above your comment already, right? 

Thu, 07/31/2014 - 15:36 | 5028814 Beam Me Up Scotty
Beam Me Up Scotty's picture

It's his signature.

Thu, 07/31/2014 - 15:41 | 5028841 Dr. Engali
Dr. Engali's picture

You know that your asshole is located right above your neckline, right? 

Thu, 07/31/2014 - 15:50 | 5028927 Bosch
Bosch's picture

Unless my asshole is actually on my neck it wouldn't be right above my neckline, unless per usual your mom was sitting on my face. 


Thu, 07/31/2014 - 15:57 | 5028973 Dr. Engali
Dr. Engali's picture

Come on, you can do better than that. That's like a fifth grade come back. Here try this one:


Your mama is so fat that she dont need the internet she's already world wide 

Thu, 07/31/2014 - 15:58 | 5028986 pods
pods's picture

Doc, we got a whole new thread for cutdowns.
For 'Mercans, fuck yeah!


Thu, 07/31/2014 - 16:00 | 5028990 Quus Ant
Quus Ant's picture

ahhh shit.  momma jokes.  The end must be nigh.


Quus Ant

Thu, 07/31/2014 - 16:04 | 5029017 Bosch
Bosch's picture

Mainly because of the Jews, there saved a few dozens ZH commenators the trouble of posting. 



Thu, 07/31/2014 - 16:01 | 5029010 Bosch
Bosch's picture

Well I was going to go with wife instead of mom, but that would indicate probable sex with a real live woman at least once. 


Thu, 07/31/2014 - 16:03 | 5029019 pods
pods's picture

Careful, that habit will sneak up on ya!


Thu, 07/31/2014 - 16:17 | 5029142 unrulian
unrulian's picture

your mom's so fat i sold her three times and still own the bitch

Thu, 07/31/2014 - 16:35 | 5029265 Jugdish787
Jugdish787's picture

i still havent stopped laughing at this yet...

Thu, 07/31/2014 - 18:27 | 5029783 Pareto
Pareto's picture

that there is some funny shit Doc!

Thu, 07/31/2014 - 15:32 | 5028783 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

 I thought that one of the various stick saves throughout the day would turn this around....although it looks like the 330 save is pulling out all the guns to recover some may be fighting a lot more volume than it's used to....

Thu, 07/31/2014 - 15:34 | 5028792 asteroids
asteroids's picture

We havent' had a down 2% day in a long long time. Maybe today is the day. If not, well there's always tomorrow and Monday might be a good day for it too.

Thu, 07/31/2014 - 15:36 | 5028794 Kaiser Sousa
Kaiser Sousa's picture

ponzi, ponzi, ponzi...
no need for Gold and Silver now is there???
i'd love to see those assholes faces over at CNBULLSHIT but my 95 year old mom's got the TV on lock watching fucking Divorce Court...

Thu, 07/31/2014 - 15:56 | 5028963 steelrules
steelrules's picture

Sousa, you put a stupid song in my head.  

 Ponzi, Ponzi, Ponzi, pocket full of reserve notes, Market crashes, We all fall down.


Thu, 07/31/2014 - 15:34 | 5028799 thismarketisrigged
thismarketisrigged's picture

kevin henry must have died, because there is no way this can happen any other way.


i am sure tomorrow, being friday and jobs day, they will fucking pump this thing up and erase most of the losses at least with there bullshit jobs number

Thu, 07/31/2014 - 15:36 | 5028818 icanhasbailout
icanhasbailout's picture

They'll add 500 points tomorrow if they have to

Thu, 07/31/2014 - 15:43 | 5028868 crazybob369
crazybob369's picture

Normally I'd agree with you, but something tells me this time it will be different. Oh crap, it's already moving up! Never mind.

Thu, 07/31/2014 - 15:50 | 5028920 icanhasbailout
icanhasbailout's picture

you may be onto something there... it went back down in spite of the full force of being posted about on ZH

Thu, 07/31/2014 - 18:26 | 5029779 DeusHedge
DeusHedge's picture

i wonder how many points barry gets when he makes transfer payments so the fed can relax and focus on the hookers.

Thu, 07/31/2014 - 15:35 | 5028804 jubber
jubber's picture

& Gold and Silver slaughtered...and OIL 9786 !

Thu, 07/31/2014 - 15:40 | 5028852 crazybob369
crazybob369's picture

Obviously all world and mid East strife solved overnight. Must have missed that headline.

Thu, 07/31/2014 - 16:15 | 5029100 HamFistedIdiot
HamFistedIdiot's picture

So silver goes from $20.70 down to $20.30, or 2% in the red just like the DOW? Since when are PMs and equities correlated? This is all bullshit and manipulation. At some point something is going to break and we will see a clear divergence. But for now I guess someone needs more Cayman Islands real estate or blow for the aliens that the Royals report to.

Thu, 07/31/2014 - 19:08 | 5029965 juggalo1
juggalo1's picture

But But But...   Silver will protect me.  How's that working out for you?

Thu, 07/31/2014 - 15:34 | 5028805 Quus Ant
Quus Ant's picture

BES = Lehman?

Thu, 07/31/2014 - 15:35 | 5028806 BeetleBailey
BeetleBailey's picture



Sell dammit!



(a convo between Lloyd Buttfuck and his machines)

Thu, 07/31/2014 - 15:35 | 5028808 Quinvarius
Quinvarius's picture

10,000 points to go.  This market will give everything back it picked up in the QE sugar rush.  Just like Japan did after every QE program, every time.

Thu, 07/31/2014 - 15:39 | 5028842 JRobby
JRobby's picture

"the QE sugar rush" Nice! plus 1000

Now: pancreatitis

Thu, 07/31/2014 - 15:48 | 5028911 dontgoforit
dontgoforit's picture

Yeah, and that stuff is painful - or so I'm told anyway.

Thu, 07/31/2014 - 15:35 | 5028810 Timmay
Timmay's picture

I put my hand upon your hip, when I dip you dip we dip.....

Thu, 07/31/2014 - 15:35 | 5028815 laomei
laomei's picture

Quick, hammer down gold some more, maybe it'll shake loose some money to dump into the casino

Thu, 07/31/2014 - 15:36 | 5028819 dobermangang
Thu, 07/31/2014 - 15:38 | 5028837 I Am Not a Copp...
I Am Not a Copper Top's picture

Off the lows!

Thu, 07/31/2014 - 15:40 | 5028855 icanhasbailout
icanhasbailout's picture

this post bottom-ticked it practically to the second

Thu, 07/31/2014 - 16:04 | 5029022 I Am Not a Copp...
I Am Not a Copper Top's picture

Not off the lows!

Thu, 07/31/2014 - 15:39 | 5028840 TeethVillage88s
TeethVillage88s's picture

Gold is down $11.

Thu, 07/31/2014 - 15:47 | 5028913 TheRideNeverEnds
TheRideNeverEnds's picture

market going up?  sell gold

market going down? sell gold

market going sideways? sell gold

Thu, 07/31/2014 - 15:40 | 5028853 Jack Sheet
Jack Sheet's picture

Those moving averages don't mean dick
no offense

Thu, 07/31/2014 - 15:40 | 5028856 BolanosGhost
BolanosGhost's picture

Coordinated short squeeze setting up, or

Christmas in July! This bitch is finally overdosing!

Thu, 07/31/2014 - 15:41 | 5028857 Dr. Engali
Dr. Engali's picture

Nice controlled sell off to lure in some more shorts. Wake me when some real chaos hits.

Thu, 07/31/2014 - 15:44 | 5028889 Jackagain
Jackagain's picture

Yeah...they'll no doubt crush the late shorts tomorrow...

Thu, 07/31/2014 - 15:40 | 5028858 franzpick
franzpick's picture

I hope this is MR. MARKET finally clearing his throat to speak.

Thu, 07/31/2014 - 15:41 | 5028859 Caracalla
Caracalla's picture

Is there POMO tomorrow?

Thu, 07/31/2014 - 15:42 | 5028862 fonzannoon
fonzannoon's picture

Kev! Kev!!!! better late than never Kev!

Thu, 07/31/2014 - 15:42 | 5028864 Kaiser Sousa
Kaiser Sousa's picture

here it comes roaring back in the last 20 minutes...
from 300 to 267...
yeah, right...someone was waiting just to BTFD...

Thu, 07/31/2014 - 15:45 | 5028892 JRobby
JRobby's picture

Would you expect anything less?

Thu, 07/31/2014 - 15:45 | 5028897 Kaiser Sousa
Kaiser Sousa's picture

not really.

Thu, 07/31/2014 - 15:58 | 5028985 BeetleBailey
BeetleBailey's picture

2 minutes to close as I type this....Dow down 300....


Thu, 07/31/2014 - 15:42 | 5028872 mt paul
mt paul's picture

time to walk down 

to the marijuana store


buy some "moose turd skunk" 

and start the weekend early...

Thu, 07/31/2014 - 15:45 | 5028890 icanhasbailout
icanhasbailout's picture

Thursday is the new Monday

Thu, 07/31/2014 - 15:48 | 5028914 orangedrinkandchips
orangedrinkandchips's picture

"and we're gonna smoke an ounce to that.....G's up, Ho's down!" Snoop

Thu, 07/31/2014 - 15:57 | 5028974 BeetleBailey
BeetleBailey's picture


Gary Oldman...saying it the best

Thu, 07/31/2014 - 15:44 | 5028879 Hubbs
Hubbs's picture

Aww, it's nothing but a flesh wound! Come back and fight you yellow bellied coward!

Thu, 07/31/2014 - 15:44 | 5028881 JRobby
JRobby's picture

Thursday 7/31. A bit sooner than expected. Wonder what tomorrow will be like?

Friday August 1, 2014..........................................

Thu, 07/31/2014 - 15:55 | 5028960 edifice
edifice's picture

It will rebound 450 points.

Thu, 07/31/2014 - 16:29 | 5029227 agstacks
agstacks's picture

ISDA declares no default and the markets go gangbusters. 

Thu, 07/31/2014 - 15:44 | 5028887 Dr. Engali
Dr. Engali's picture

Off topic:


The new Snorgtees girl has some big fucking hips.

Thu, 07/31/2014 - 15:54 | 5028955 BeetleBailey
BeetleBailey's picture

Yeah.....jesus....they can't even get hot babes anymore.....fuck...this IS the end.

Thu, 07/31/2014 - 15:49 | 5028902 Keltner Channel Surf
Keltner Channel Surf's picture

Whew !  Covered my Russell short just in time before 3:30, very high-volume 2-min candles followed, probably others covering to end the day, so we may not necessarily have seen the lows.  Speaking of volume, despite the mantra of TV pundits today, I’m seeing very respectable volume in many of the typical ETF trading vehicles.  Still, I hate to agree with them about the “no panic” tone today, as it seemed a methodical move to the bottom of the daily Keltner on RUT & SPY, past it a bit on DIA, and nowhere near on QQQ.  One would think the Q’s breaking a bit more into the start of Aug would confirm a “correction” (e.g., redress a previous error) vs. a single month-end flush, but you know how much the hedgies LOVE their Q’s.

Thu, 07/31/2014 - 15:46 | 5028905 oklaboy
oklaboy's picture

and now a short intermission....

Thu, 07/31/2014 - 15:49 | 5028918 Smiley
Smiley's picture

Buy a bunch of booze, get drunk, and laugh at all the assholes making excuses and predictions.  A shit-storm is a shit-storm, no matter what your forecasts tell you.

Penalty shot for any mention of the word "Bubble"

Thu, 07/31/2014 - 15:51 | 5028932 Mi Naem
Mi Naem's picture

Yeah, but I found this hot new stock trading as"ZVV". 

Apparently, the company is called "NYSE ARCA test stock", so it must have somethin' to do with leading edge NASCAR, or somethin'. 

Anyway, it's up over a 170% this afternoon.  It's a sure thing! 

Thu, 07/31/2014 - 15:59 | 5028934 ekm1
ekm1's picture


Unless I see 1000 dow pts drop per day, 3 days in a row, nothing real has happened

Thu, 07/31/2014 - 16:09 | 5029083 hoist the bs flag
hoist the bs flag's picture

what about 300 per day for 3 that priced in?

Thu, 07/31/2014 - 16:43 | 5029307 CheapBastard
CheapBastard's picture

Not to worry. CNBC says there's lots of money ... "sitting on the sidelines...."


Hee Haw Hee Haw Hee Haw .........

Thu, 07/31/2014 - 16:52 | 5029370 GrinandBearit
GrinandBearit's picture

We'll never see -1000 in one day.  There are stoppers set in place to prevent that.  Even in 2008, we didn't see anything like that.

Thu, 07/31/2014 - 18:24 | 5029774 Pareto
Pareto's picture

um yeah we came pretty close.  And there were actually more than one occassion.  Therre were lots of -770, -870 swings intraday too.  The capitulation in March of 2009 had some treacherous days as well.  Just saying.  I remember yawning on the -450 pt. days after the slew of -700, -800 days.  Maybe its my imagination.  But as I recall there was for sure at least 1 day where the Dow was down by more than 1,000 intraday.

Thu, 07/31/2014 - 15:53 | 5028936 OMG
OMG's picture

It's that time again


^^^^He's gonna jump^^^^

Thu, 07/31/2014 - 15:52 | 5028938 buzzsaw99
buzzsaw99's picture

But it's the pelvic thrust that really drives you insane...

Thu, 07/31/2014 - 15:53 | 5028940 Bastiat
Bastiat's picture

The plunge protection team torque converter is starting to spit out gear teeth.

Thu, 07/31/2014 - 16:07 | 5029053 Jackagain
Jackagain's picture

They were busy golfing with Obummer...

Thu, 07/31/2014 - 15:56 | 5028961 q99x2
q99x2's picture

Can't buy a Dip without a Dip. BTFD.

Thu, 07/31/2014 - 15:59 | 5028983 B.J. Worthy
B.J. Worthy's picture

VIX finally came up for air.

Thu, 07/31/2014 - 16:01 | 5029004 Bastiat
Bastiat's picture

. . . and a close on the low for the DOW>

Thu, 07/31/2014 - 16:01 | 5029011 trader1
trader1's picture

in other news:

A series of explosions in the southern Taiwanese city of Kaohsiung has killed at least five people and injured scores of others.

Reports say the blasts were caused by ruptured gas pipelines.

Images and footage from the scene show major fires and significant damage to roads and buildings.

"At least 212 people who were injured have been rushed to hospitals for treatment," the National Fire Agency said.

Chinese news agency Xinhua reported that before the explosion, smoke with a "gas-like smell" came out of drains into the streets.

Thu, 07/31/2014 - 16:02 | 5029015 enforcer92677
enforcer92677's picture

Slam that bitch down on the close.  BOO-YAH!  ;-)

Thu, 07/31/2014 - 16:05 | 5029030 SheepDog-One
SheepDog-One's picture

Not 1 peep about it from any financial media whore, they're acting like it never happened.

Thu, 07/31/2014 - 16:06 | 5029042 JuliaS
JuliaS's picture

The trigger is, no doubt, Argentina. Even though the default was long in the making, derivatives are yet to unravel. Not much money in global terms, but dominos are still dominos. Something else somewhere else will blow up a week later.

I'm sure the banker are papering it over. A 2% drop would've been a 10% drop otherwise. Tomorrow will probably be a short-squeeze spike. Monday a big slide. Then it's POMO Tuesday, and Wednesday through Friday another sustained slide, until something in Ukraine or Gazaa provides a new distraction.

Thu, 07/31/2014 - 16:28 | 5029214 css1971
css1971's picture

Really? Someone was ... like ... caught by surprise?

Thu, 07/31/2014 - 16:08 | 5029060 hoist the bs flag
hoist the bs flag's picture

You didn't build that gain

Thu, 07/31/2014 - 16:08 | 5029062 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Looks like Kirchner is going to be the center of attention at a bukake and blow wall street party now if this is related to that default.

Thu, 07/31/2014 - 16:10 | 5029086 ghostzapper
ghostzapper's picture

Been running around today and missed some stuff here so looks like Gartman went long ES right at the open, that about right?

Thu, 07/31/2014 - 16:15 | 5029123 TabakLover
TabakLover's picture

Hmmmm, I can hear Putin now.  "Hmmmmm, the US market, how can we help it down 300 again tomorrow commrades?   We have 15 and one-half hours"

Thu, 07/31/2014 - 16:15 | 5029129 Make_Mine_A_Double
Make_Mine_A_Double's picture

But Q2 came in at a testicle scorching 4.0% FFS!

Wait I know the economy is soooo hot you gotta wear shades and the Fed will have to jack interest rates to put lock up the liquor cabinet lest the eCONomy overheat from wretched excess.

Thu, 07/31/2014 - 16:26 | 5029207 thamnosma
thamnosma's picture

+1 for "testicle scorching"

Thu, 07/31/2014 - 16:19 | 5029150 thamnosma
thamnosma's picture

I'm getting the feeling it's time to get out.  Wait for a bounce or two and that's it.  Even if there's some wild upside BS up to 18,000 DOW the risks totally outweigh the rewards.  Plus the Fed has been signaling an end to pumping up the market as they have their own balance sheet problems.  Could be everyone's entering the CYA zone. 

Thu, 07/31/2014 - 19:40 | 5030108 TweedleDeeDooDah
TweedleDeeDooDah's picture

Which means you were dumb enough to stay in this long.
At least you've realized that the "froth" you've been skimming is just you're own aerated spunk from the once-in-a-while "pity" reach-arounds from getting pounded in the butt several times daily on every other fiscal and imonetary front.

Fri, 08/01/2014 - 01:44 | 5031420 thamnosma
thamnosma's picture

LOL, wasn't dumb at all.  Did very well riding the train.  It's on shaky ground now.

Thu, 07/31/2014 - 16:23 | 5029193 starman
starman's picture

Woohoo! Lets celebrate! 

Thu, 07/31/2014 - 16:26 | 5029208 css1971
css1971's picture

Wait,,,, What?

Thu, 07/31/2014 - 16:41 | 5029294 Smegley Wanxalot
Smegley Wanxalot's picture

Which just goes to prove .... stupidity may be endless , but dumb money ain't.

Thu, 07/31/2014 - 17:18 | 5029492 prmths2
prmths2's picture

Elsewhere on this forum I previously endorsed Interactive Brokers on the basis of the flexibility provided by their capability to route options orders to the exchange offering the greatest rebate. I now withdraw that endorsement. Today, without any prior notice, Interactive Brokers canceled 10 pending orders to sell out of the money puts. Some of the orders had been pending for several weeks and would have required a significant drop/volatility increase to execute, so I do not know if any of the orders would have executed today (DOW -317, VIX +3.62). After talking to several customer service representatives, I had two conflicting explanations for the order cancellation, but they both centered on a change in policy for which no advance notice was given. Their TWS software no longer provides the option to route to the exchange offering the highest rebate and I am still waiting for an explanation for the change and why no prior notice of the change was provided.

Thu, 07/31/2014 - 21:35 | 5030734 rgetty
rgetty's picture

Hmm looks like a head and a left shoulder? what do you think? right shoulder then Boom!

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