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"Markets In Turmoil" Russell 2000 Plunges Most In Over 2 Years, Dow Down For 2014

Tyler Durden's picture


The deer is back...


Stocks finally snapped and caught down to high-yield credit's warnings. The worst day for the Dow in 6 months, smashing through its 50- and 100-day moving-average. The Russell 2000 was worst on the day to end July down over 6% - its worst month since May 2012. The S&P's had almost its worst day in 6 months. Trannies dropped 3.4% on the week - the worst in 11 months. Stocks closed at the day's lows.



The week


All major US equity indices close lower in July... The Russell 2000's worst month since May 2012


The Year... Dow Red, Russell -3.6%


Was Yellen right after all?


Stocks finally caught down to credit's warnings...


Dow's worst day in 6 months...



Builders are worst but Discretionary and Staples are now red YTD...


Amid all the carnage in stocks, Treasury yields closed +/-1bps (long-end higher in yield, short-end lower)...


The USD was flat...


Commodity markets were clubbed as we suspect EU closing margin calls (and then US margin calls) hit them... WTI dropped below $98!!



Year-to-date, gold and bonds continue to lead, HY lags...


While talking heads were anxious to explain how there was no panic... the moves in commodities had the smell of margin calls to them as equities demanded more cover...


So to sum up - carnage in stocks... USD flat, bonds flat... Oil monkey-hammered and PMs dumped.

Charts: Bloomberg

Bonus Chart: "Sell In May" worked after all...


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Thu, 07/31/2014 - 16:07 | 5029058 franzpick
franzpick's picture

Tomorrow will be worse.

Thu, 07/31/2014 - 16:09 | 5029067 moonman
moonman's picture

nope all is rosy tomorrow

Thu, 07/31/2014 - 16:13 | 5029111 Say What Again
Say What Again's picture

I'm confused.  I never heard the go-ahead signal from Yellen or Hillsenwrot, so how did I know I was supposed to go heavy on the puts and short shit

Thu, 07/31/2014 - 16:21 | 5029166 DoChenRollingBearing
DoChenRollingBearing's picture



I just sold some VO (Vanguard MidCap ETF) and VB (Vanguard SmallCap ETF).  Edging closer to the door of bailing on my stocks...


But, it pains me that I have to sell pieces of great American companies, which traditionally have been great investments over time.

On the other hand, "No one ever went broke by selling at a profit."

Thu, 07/31/2014 - 16:22 | 5029187 fuu
fuu's picture

"Year-to-date, gold and bonds continue to lead, HY lags..."


Strange how that keeps happening quietly.

Thu, 07/31/2014 - 16:33 | 5029246 wallstreetapost...
wallstreetaposteriori's picture

Too bad it doesn't happen more loudly, my entire portfolio is treasuries and gold since the taper announcement in december.  Just waiting for the 10yr to hit 1% and make all those interest rates can only go up peeps shut the fuck up.

Thu, 07/31/2014 - 16:36 | 5029275 wee-weed up
wee-weed up's picture

The Gov't has a plan for a crashing Market...

Start a Woar!

Thu, 07/31/2014 - 17:07 | 5029434 jcaz
jcaz's picture


Thu, 07/31/2014 - 17:19 | 5029500 aVileRat
aVileRat's picture

If the market drops, deals will be pulled, which means confidence in liquidity to finance said deals will stop; which will lead to a weakness in gross confidence which will cause a general retreat to cash. Which is what we saw today, as the only thing that was up, was the US$, ironically, because the US$ is drawing -3% at least (margin & WACC may vary)

Since this is a chase for yield, anything greater than 3% ROI (yield to worst) is dead paper, which must upset plenty of bond traders struggling to make a living on 10s30 in Chicago. The Japanese bond pit is a shining example of what happens when the hated market upside breaks, leading to a systemic loss of confidence.

In short? Cheer the dip, savor the dip, but the dip may be here for a long time and the new normal may imply a negative P/L sheet for many spread clippers going forward. At that point, we definitly will see NIRP (real) and perma-structural hiring rotations well below 3% (adjusted, seasonal, U def. changed) for the next 4 years. Not that many will survive that NIRP given increasing short rates & weakening market depth (both of which will chew up 80% of the last bears alive).

Anyone got an evil cat I can buy?



Thu, 07/31/2014 - 17:32 | 5029551 THX 1178
THX 1178's picture

Is this at all related to the most recent taper? What are we down to now? 5 billion a month?

Thu, 07/31/2014 - 17:56 | 5029647 TahoeBilly2012
TahoeBilly2012's picture

TYler that deer looks well protected by that doug fir on his right, me thinks the car driver dies and the deer walks off.

Thu, 07/31/2014 - 18:13 | 5029721 Robinhood
Robinhood's picture

That deer looks like Kevin Henry.

Thu, 07/31/2014 - 18:51 | 5029901 Bill the Cat
Bill the Cat's picture


Thu, 07/31/2014 - 19:11 | 5029975 espirit
espirit's picture

A meaningful correction has to be Putins fault, afterall there hasn't been one till he made the news.


Thu, 07/31/2014 - 19:57 | 5030189 Squid-puppets a...
Squid-puppets a-go-go's picture

nar not Putin

Greenspan. Its pathetic that the herd wont pay attention to mountains of risk until someone like that geriatric chimp pipes up

Thu, 07/31/2014 - 18:14 | 5029729 J S Bach
J S Bach's picture

More QE!  Quick!

Thu, 07/31/2014 - 18:45 | 5029873 nmewn
nmewn's picture

Oh yeah, you know it.

Thu, 07/31/2014 - 17:52 | 5029630 mt paul
mt paul's picture

no bad pussie 

for you...

Thu, 07/31/2014 - 17:47 | 5029600 LibertyBear
LibertyBear's picture

Stock market is rigged, up AND down.

Thu, 07/31/2014 - 17:20 | 5029228 zaphod
zaphod's picture

If this is what happens when the FED only prints $45B/month ($540B/year) instead of printing $85B/month ($1.02T/year, more than the entire 2007 montetary base BTW), just imagine what will happen when the printing or if (gasp) interest rates go up.

When the petrodollar falls, and the ability to print money and have others buy it is gone, most people will be completely blindsided by the crash. That is when the US elects a strong arm ruler to "fix" everything, and the concept of America finally dies.  

Thu, 07/31/2014 - 17:33 | 5029537 HardlyZero
HardlyZero's picture

Believe FED announced this week the QE is now $25B/month.   At this rate should be kaput by October 2014.

I have read allocation $20B to treasuries, and $5B to mortgages/banks/stawks?...get SRTY.

Thu, 07/31/2014 - 16:33 | 5029254 cro_maat
cro_maat's picture

DoChen - The great American companies in my view are the small to medium size companies that are family owned, not listed on a stock exchange and serve not only their own profit interests but their customers & employeees. Oh and they also do not harm the environment or the community that they do business in.

The mega multi-national "American" corporation like Google, Boeing, Microsoft, etc. are not American nor great. They are international and serve shareholders exclusively. As to investments over time (long term buy and hold), I will stick to actual physical resources with no debt attached such as timber, gold, silver, land, tools, production equipment, animals, etc.

Of course I am preaching to the choir as I know that you have a good diversified portfolio in more than 1 country.

Thu, 07/31/2014 - 16:40 | 5029289 Socratic Dog
Socratic Dog's picture

Preaching to the choir, but well said none the less.

Thu, 07/31/2014 - 17:04 | 5029422 Rentier88
Rentier88's picture

MUAHAHAHA...and the rollercoaster downward has just started...!

Thu, 07/31/2014 - 16:15 | 5029121 SumTing Wong
SumTing Wong's picture

Remember this is the end of the month. Everyone was going to sell in the last half hour, and we all knew that.

Tomorrow could be really bad, or it could be all shits and giggles. I'm going for low volume lazy rise into the close on a nice Friday afternoon.

(But if the market represented the economy it would be all-out fucking pandemonium tomorrow as we break all triggers in the first half hour.)

Thu, 07/31/2014 - 16:18 | 5029146 Say What Again
Say What Again's picture

I'm going to say this in the most polite way possible.  What screens were you looking at?  The selling started right at the start of the session, took a mid-session pause, and then continued selling all afternoon.

Thu, 07/31/2014 - 16:29 | 5029226 marathonman
marathonman's picture

Buy the dip?  /sarc

Thu, 07/31/2014 - 17:10 | 5029460 TheSecondLaw
TheSecondLaw's picture

Good sarc - don't hear many shouting that.    And some good, solid pain for the BTFATH crowd today.  I suspect dip buyers might be a bit nervous tomorrow. Let's see.

Thu, 07/31/2014 - 18:41 | 5029852 Keyser
Keyser's picture

Nice day in the VIX... 

Thu, 07/31/2014 - 21:12 | 5030620 garypaul
garypaul's picture

I think he meant that the market closed on it's lows.

Thu, 07/31/2014 - 16:21 | 5029172 jarana
jarana's picture

Let's be macroprudent tomorrow...

Thu, 07/31/2014 - 16:36 | 5029270 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

There was desperate market-manipulated buying in the last 1/2 hour. if we had closed the market at 330, we would have been even further down. 

When the selling volume is high, the manipulation is unable to keep up. Look at the movement during the day, versus the volume. The market was pumped back up every time the volume lagged, but then was beat back down. 

Thu, 07/31/2014 - 17:40 | 5029575 angel_of_joy
angel_of_joy's picture

Cheapskates ! They want to pump-up the market, but without spending what it takes to do it right ...

Thu, 07/31/2014 - 18:43 | 5029865 Keyser
Keyser's picture

Probably overloaded their capcity to hedge the downturn, after all, they whacked all the markets today; metals, bonds and equities... Only so much sugar to go around... 

Thu, 07/31/2014 - 16:56 | 5029392 cougar_w
cougar_w's picture

Paging Richard Whitney ...

Thu, 07/31/2014 - 17:10 | 5029457 SheepDog-One
SheepDog-One's picture

Everyone sold the all-time whom? Imaginary greater fools sitting on piles of really dumb money on the sidelines I guess?

Horse shit.

Thu, 07/31/2014 - 19:14 | 5029988 espirit
espirit's picture

401(k)'s = All In.

Fishez, Bitchez.

Thu, 07/31/2014 - 16:18 | 5029141 El Vaquero
El Vaquero's picture



Is this a real (pseudo) market crack appearing, or is this just going to lull the shorts in so that they can take it up the tailpipe?

Thu, 07/31/2014 - 16:20 | 5029160 franzpick
franzpick's picture

Barry will get to the bottom of this.

Thu, 07/31/2014 - 16:21 | 5029169 El Vaquero
El Vaquero's picture

I think you mean "Barry is a bottom." 


Tailpipes and all.

Thu, 07/31/2014 - 16:24 | 5029192 franzpick
franzpick's picture

I used to think "a dick with ears" was a caricature.

Thu, 07/31/2014 - 16:30 | 5029230 tumblemore
tumblemore's picture

given the level of market manipulation for so long when it finally goes under i imagine everyone will be surprised

Thu, 07/31/2014 - 16:34 | 5029256 El Vaquero
El Vaquero's picture

I won't.  I know that something is going to happen, I just don't know when.  The other question is, does our stock market get Zimbabwe'd or does it go crash, or does it go crash, then Zimbabwe'd? 

Thu, 07/31/2014 - 17:07 | 5029442 tumblemore
tumblemore's picture

yeah i meant the actual day it happens.



Thu, 07/31/2014 - 19:54 | 5030162 HardlyZero
HardlyZero's picture

Good Thing: Zimbabwe only occurs if there is a completely out of control printing press and hyperinflation.

Bad (and Good) Thing: the USD printing press is closing down.

Summary: there will be crashing markets and little 'crack-up-boom' since no one has any money in the US any more.


The banks have all the cash, but they will probably use it to pay their employees and buy up cheap land.


 Huge deflation probably everywhere and dead-zombie animal spirits.

Thu, 07/31/2014 - 16:19 | 5029157 J Pancreas
J Pancreas's picture

Of course all is rosy tomorrow, its the first. EBT gets recharged my nigga! We eatin' lobsta 2marr0w!

Thu, 07/31/2014 - 19:24 | 5030033 EBT excepted
EBT excepted's picture

yup, all coming back...I asked a co-worker whether two or three 500 pt drops would convince him..."nope"...

Thu, 07/31/2014 - 16:09 | 5029074 flacon
flacon's picture

It's just a flesh wound.

Thu, 07/31/2014 - 16:19 | 5029153 Keltner Channel Surf
Keltner Channel Surf's picture

. . . said Van Gogh, as he began to paint "Wheat Field with Crows"

Thu, 07/31/2014 - 16:22 | 5029180 replaceme
replaceme's picture

+1 on the suicide ref!

Thu, 07/31/2014 - 16:42 | 5029301 Keltner Channel Surf
Keltner Channel Surf's picture

Pisani just blamed day traders buying the dip then selling for today’s close at the lows.  The truth?  Whenever he wears a checked shirt, markets tank.

Thu, 07/31/2014 - 16:24 | 5029198 ShorTed
ShorTed's picture

Look, you stupid bastard, you've got no arms left! - King Arthur

Thu, 07/31/2014 - 18:05 | 5029681 Captain Jack Sparrow
Captain Jack Sparrow's picture

haha monty python is the best

Thu, 07/31/2014 - 17:31 | 5029547 tdogg
tdogg's picture

Hey hey!!  There he is!

Left some kibble out in the back yard for ya big guy.

Don't mind the neighbor with the bow & arrow.


Thu, 07/31/2014 - 16:11 | 5029099 zorba THE GREEK
zorba THE GREEK's picture

They will need to make up some good news to levitate the markets tomorrow.

Thu, 07/31/2014 - 16:15 | 5029126 Dr. Richard Head
Dr. Richard Head's picture

No, bad news drives market higher now.

Thu, 07/31/2014 - 16:33 | 5029255 Amish Hacker
Amish Hacker's picture

And there's nothing like a Friday, late session, to bring out all the bad news they'd like to get swept under the rug by Monday. Banks always go under on a Friday. Unpleasant revisions tend to get released on Fridays. TEOTWAWKI will be announced on a Friday.

Thu, 07/31/2014 - 17:06 | 5029415 kurt
kurt's picture

In almost every post I detect a hopefulness not unlike the first rays of sun after a dangerous storm. This hope runs deep like a third stringer who sits the season out on the bench but during the last game is sent out bursting with tremendous energy, each step never touching the ground, irrepressible smile rising up, deep,  from the solar plexus. This hope must have been felt by the fledgling nation, America, when they realized the British had given up and gone home, the hope felt in Time Square when That Kiss happened on VJ day, the end of WWII.

But what is it that we hope, tentatively? It is the hope that the entire blood thirsty corrupt distorted monster DIES! That's right, we hope the 1% fall BELOW the street grates, to gnash their teeth in utter failure, never to rise again. It is only a massive beating that will be big enough to kill the monster. Die, Monster, die!

Thu, 07/31/2014 - 17:17 | 5029491 Tall Tom
Tall Tom's picture

Collapse baby collapse.


Kill the fuckin' beast.

Thu, 07/31/2014 - 19:19 | 5030012 espirit
espirit's picture

This is prolly JP Morgue skimming the creme to cover Argentine CDS.

Thu, 07/31/2014 - 17:45 | 5029592 ajax
ajax's picture



Zuerich and Geneva closed tomorrow for Swiss "Fete Nationale", August 1st...

Thu, 07/31/2014 - 17:54 | 5029632 Uchtdorf
Uchtdorf's picture

Announced on Friday, after the close.

Thu, 07/31/2014 - 16:12 | 5029108 F0ster
F0ster's picture


Thu, 07/31/2014 - 16:18 | 5029144 Bryan
Bryan's picture

It's all a setup for a rally on NFPs tomorrow.  Follow the script.

Thu, 07/31/2014 - 16:31 | 5029244 Keltner Channel Surf
Keltner Channel Surf's picture

Ah, so you expect a “No Fucking Payrolls” report to boost the sugar level of the Yellen Dove Bar?

Thu, 07/31/2014 - 16:20 | 5029161 Goldbugger
Goldbugger's picture

This sell off won't stop till it hits the 5DMA then a nice reboud and make all time highs again the tippsy KABOOOM.

Thu, 07/31/2014 - 16:22 | 5029182 stocktivity
stocktivity's picture

Wow!  Hello Bambi...been a long time since we saw you last.

Thu, 07/31/2014 - 17:30 | 5029543 db51
db51's picture

Friday is Tuesday.    Every Day is Tuesday.   Except Today, which was just a Dip to set up for Friday, which is Tuesday.   To the fucking Moon alice.   Buy now, before you miss this once in a lifetime opportunity.


Thu, 07/31/2014 - 18:30 | 5029800 junction
junction's picture

Algorithms have no bad days and the bosses of the high frequency trading outfits are already at their beach houses.  It will only be worse for employees of firms that are victims of an LBO, where the hedge fund sends in a wrecking crew to decimate the head count in order to boost short term profitability.

Thu, 07/31/2014 - 18:35 | 5029824 markettime
markettime's picture

meh, it will regain its losses overnight and be in the green by tomorrow. Except gold of course, they will knock it down another $10 or so...

Thu, 07/31/2014 - 16:08 | 5029065 fuu
fuu's picture

Venison bitchez.

Thu, 07/31/2014 - 16:23 | 5029189 DirkDiggler11
DirkDiggler11's picture

Calling "Meat Trapper or HH" we need a grest Venison recipe for this one that got caught in the headlights....

Thu, 07/31/2014 - 16:30 | 5029236 fuu
fuu's picture

Needs more radishes.

Thu, 07/31/2014 - 19:26 | 5030046 espirit
espirit's picture

Take a doe rump roast and completely wrap in bacon.  Slowly bring up to 180 degrees, then thin slice and serve with mashed potatoes and gravy.

Sliced tenderloins wrapped in bacon hot off the grill would be a fitting last meal.

Thu, 07/31/2014 - 16:31 | 5029243 El Vaquero
El Vaquero's picture

Grind it up with a bit of pork fat and make burgers.  Or, thaw it out in the smoker, cube it up, throw it in your crock pot with some red chile for a while (it will impart a wonderful smokey boldness to the chile,) then throw the chunks in some posole and let simmer all day.

Thu, 07/31/2014 - 16:40 | 5029293 cro_maat
cro_maat's picture

El Vaq - That smoked chile recipe sounds great. I just picked a basket of chanterelles North of NYC and would add a few of these to get that earthy flavor in.

How about venison brisket slow smoked until it falls apart and then smothered in a vinegar Carolina BBQ sauce?

Thu, 07/31/2014 - 16:45 | 5029325 El Vaquero
El Vaquero's picture

I don't know.  I have some elk brisket in the freezer and am scared to BBQ it out of the fear that it will get dried out.  Beef brisket is fun enough to nail (even the failures are good though,) and elk or venison with their lower fat content might come out very dry.  If I did it though, I would definitely foil it at an internal temperature of 150 or 160, and possibly add a touch of saline or apple juice into the foil. 

Thu, 07/31/2014 - 16:52 | 5029368 cro_maat
cro_maat's picture

Good suggestion. I was going to suggest wrapping it in fat but I think the apple juice and foil is the better option - Cheers.

Thu, 07/31/2014 - 17:10 | 5029456 DirkDiggler11
DirkDiggler11's picture

Now you're talking, Venison BBQ in a tangy Eastern NC Vinegar based sauce with a bit of hot pepper in the mix. Sounds so good we MUST have the deer back on FRIDAY !!!!

Thu, 07/31/2014 - 16:50 | 5029350 Badabing
Badabing's picture

Back straps on the BBQ with garlic and salt!

Thu, 07/31/2014 - 17:20 | 5029504 7.62x54r
7.62x54r's picture

Anyone have a recipe for smoked hobo?

Thu, 07/31/2014 - 16:45 | 5029323 TheMeatTrapper
Thu, 07/31/2014 - 18:19 | 5029759 DirkDiggler11
DirkDiggler11's picture

Awesome Meat Trapper, you certainly didn't disappoint !
Not exactly what I had in mind with the headline "Eating Beaver" but awful tasty none the less. I could almost smell in cookin ' !!!

Thu, 07/31/2014 - 16:09 | 5029069 enforcer92677
enforcer92677's picture

Cautiously optimistic the downward trend will follow-through and continue.

Thu, 07/31/2014 - 16:10 | 5029070 ekm1
ekm1's picture

I need to see 1000 dow points drop per day, three days in row to believe that the order to call the margin on the financial system has been given, as in 2008

Thu, 07/31/2014 - 16:28 | 5029216 Seasmoke
Seasmoke's picture

Patience grasshoper

Thu, 07/31/2014 - 18:47 | 5029881 jbvtme
jbvtme's picture

the gold market today suggested margin covering in the equities. no?

Thu, 07/31/2014 - 17:04 | 5029410 hobopants
hobopants's picture

Yep, kinda hard to believe that a market can crash when it is being propped up by a printing press. Seems like the Dollar will die before the market does.

Thu, 07/31/2014 - 17:30 | 5029542 John McCloy
John McCloy's picture

It is coming...but not yet. Aint if you think you saw stops being pulled in 2008..we have not seen a thing..

We are talking closing the stock markets, banning short selling, banning holidays...when that begins to happen is when I will believe it has spun out of control..first gold will plummet and then sky rockets towards 2k in panic..we will have those insane swings of dow up 300 and down 600 all in the span of an hour...That is true panic..

  This was just a coordinated selloff by the Fed

Thu, 07/31/2014 - 16:09 | 5029071 Tjeff1
Tjeff1's picture

Tis but a flesh wound

Thu, 07/31/2014 - 16:16 | 5029130 Minge
Minge's picture

A scratch? Your arm's off!

Thu, 07/31/2014 - 17:24 | 5029514 Callz d Ballz
Callz d Ballz's picture

With a splash of Ebola on it.

Thu, 07/31/2014 - 16:09 | 5029079 101 years and c...
101 years and counting's picture

poppin that oil bubble will really make putin mad.  maybe he can take all of ukraine and then tell its creditors (mostly Western) to go pound sand.

Thu, 07/31/2014 - 16:10 | 5029081 Carpenter1
Carpenter1's picture

It works, until it doesnt

Thu, 07/31/2014 - 16:10 | 5029084 JRobby
JRobby's picture


Thu, 07/31/2014 - 16:30 | 5029231 marathonman
marathonman's picture

Aint gellin.

Thu, 07/31/2014 - 16:53 | 5029373 disabledvet
disabledvet's picture

"Top calling from the Fed Chair!"

Don't here that everyday. Wonder when she picked up her series 7?

See the Republican Border Bill went down in flames too. "Here cometh the slaves!"

I still see no way to avoid a "string of defaults unlike the world has ever seen!" (to paraphrase HW Bush and Gulf War I.)

That's still is a HUGE spread between the long and short as usual "hog wild in the commodity space remains the suicide play."

I can easily see oil heading to "whale oil" here.

Thu, 07/31/2014 - 16:10 | 5029085 Keltner Channel Surf
Keltner Channel Surf's picture

The one disappointing thing for bears is that, after the 2nd Hourly candle (11:00), we didn’t end the day appreciably lower on the more aggressive indices (RUT, QQQ), though we DID on the larger caps (DIA, SPY).  I realize dollar appreciation might have played a role for larger multinationals, but a -3% on the higher-beta indices would have been more convincing.  (Christ! -- Listen to me:   the first 300 pt down day in a year, and I’m already getting greedy . . .  but, greed is good . . .)

Thu, 07/31/2014 - 16:12 | 5029092 Last of the Mid...
Last of the Middle Class's picture

It's really nice to be 100% out and not give a rats ass what equities do. Back to the basics, gold, lead and brass.

Thu, 07/31/2014 - 18:49 | 5029888 jbvtme
jbvtme's picture

and hemp

Thu, 07/31/2014 - 16:12 | 5029093 pods
pods's picture

Oh yes, a DOWn day and now the deer?

Shelter in place kiddies.

Tomorrow we get to drink short blood.  (be careful traders, I would hate to see a ZH brother go down, because they are gonna publish your last post)

Oh, and someone is going to donkeypunch gold at the open too.


Thu, 07/31/2014 - 16:13 | 5029104 economessed
economessed's picture

I love that deer.  Could we get it in 1024x768 for my screensaver?

Thu, 07/31/2014 - 16:31 | 5029242 franzpick
franzpick's picture

"I'll never go in there for two bucks again".

Thu, 07/31/2014 - 16:27 | 5029106 foodstampbarry
foodstampbarry's picture

Now would be a good time to setup a nail gun stand on wallstreet. Shitgums 2 for 1 baby!

Thu, 07/31/2014 - 16:13 | 5029115 J Pancreas
J Pancreas's picture

The dip today will cause a 400 point rally tomorrow. Illusion of "efficient and free" markets must be kept.

Thu, 07/31/2014 - 16:14 | 5029117 i_call_you_my_base
i_call_you_my_base's picture

Taking profits.

Thu, 07/31/2014 - 16:14 | 5029119 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

When I see that deer I feel like Im seeing my childhood dog again...

Thu, 07/31/2014 - 16:14 | 5029120 Rainman
Rainman's picture

I don't get it .....where the fuck did all that fiat go ?

Thu, 07/31/2014 - 16:15 | 5029127 DOGGONE
Thu, 07/31/2014 - 16:16 | 5029135 GOLD AND SILVER...

Viva our beloved dear!

Thu, 07/31/2014 - 16:17 | 5029136 pragmatic hobo
pragmatic hobo's picture

well ... that's one way to end the month ...

Thu, 07/31/2014 - 16:17 | 5029139 Fix It Again Timmy
Fix It Again Timmy's picture

Friday follies then Monday mash-up...Don't waste your time trying to decipher this manipulated pile of shit...

Thu, 07/31/2014 - 16:18 | 5029143 franzpick
franzpick's picture

Black Thursday will lead to a Black Friday, and a presidential pep-talk about how really well-off we are being in the Black.

Thu, 07/31/2014 - 17:05 | 5029433 Frank N. Beans
Frank N. Beans's picture

this sort of buzzkills obama's 4.0 GDP pep talk

Thu, 07/31/2014 - 16:19 | 5029151 farmboy
farmboy's picture

I guess this drop are "costs" ?

Thu, 07/31/2014 - 16:20 | 5029164 Dewey Cheatum Howe
Thu, 07/31/2014 - 16:20 | 5029167 gatorengineer
gatorengineer's picture

Perhaps they reached a little too far with that 4.0 GDP print, and told the markets to get a bit lower before the koolaide spiggot is back flowing...

Thu, 07/31/2014 - 16:31 | 5029238 Winston Churchill
Winston Churchill's picture

May as well have planted that 4% on the summit of mount  Everest.

Even this market is not that stupid, as to believe it,

Look at how oil reacted, and is still reacting.

If the market falls tomorrow, which it should looking at WTI, the FedRes has lost control,and

watch out below.

Thu, 07/31/2014 - 17:01 | 5029405 cougar_w
cougar_w's picture


Thu, 07/31/2014 - 17:26 | 5029528 HardlyZero
HardlyZero's picture

SRTY Russell short shorts.

Thu, 07/31/2014 - 18:10 | 5029664 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Naw, software glitch if they can't contain it and shut the whole thing down until things cool down and if that don't work then some sort of conveniently timed false flag domestic turrist attack and they reset the whole bitch like a do-over.

1000 point drop over a week or so they can ramp back up by election time depending whether the derivatives time bomb relating to Argentina defaulting explodes. And even then if they can get the proverbial hero to jump on it to absorb the blast to save everyone else might be able to minimize the damage at least on the surface to the general low information voting public.

Thu, 07/31/2014 - 16:22 | 5029176 TabakLover
TabakLover's picture

I say jobs +300K.  Mrs. Yellen will shite herself.

Thu, 07/31/2014 - 16:36 | 5029273 pods
pods's picture

I think the consensus is that Mrs. Yellen pees standing up.


Thu, 07/31/2014 - 17:20 | 5029503 DoChenRollingBearing
DoChenRollingBearing's picture

 Bwa ha ha ha!

Thu, 07/31/2014 - 23:36 | 5031161 Hulk
Hulk's picture

Bwa hahaha squared !!!

Thu, 07/31/2014 - 16:22 | 5029177 thamnosma
thamnosma's picture

Will the Feds really permit these markets to crash just months before the elections?  Are the powers ready to dump Obammie and the Demonrats?

Thu, 07/31/2014 - 17:21 | 5029507 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1000

Thu, 07/31/2014 - 17:26 | 5029525 Tall Tom
Tall Tom's picture

The prople are not supporting Obama anymore. The elite will toss him under the bus if it is expedient.


They're not buying the bullshit anymore. They are broke. They cannot buy it.

Thu, 07/31/2014 - 16:22 | 5029183 Pairadimes
Pairadimes's picture

Don't blame me. I've been outa this fucker since February.

Thu, 07/31/2014 - 16:22 | 5029186 SillySalesmanQu...
SillySalesmanQuestion's picture

Hello deer...nice to see you again, did you come back to eat all the rosy blooms off the green shoots?

Thu, 07/31/2014 - 16:23 | 5029188 Make_Mine_A_Double
Make_Mine_A_Double's picture

Be interesting to see if they can levitate it through the close tomorrow, but if it shits the bed again around 1500 EST than we may be in new territory.

Thu, 07/31/2014 - 16:23 | 5029194 riskon.then.riskoff
riskon.then.riskoff's picture

A good level for short the market with stop loss in  popular " fucking all time high" territory

Thu, 07/31/2014 - 16:24 | 5029200 stant
stant's picture

War is coming

Thu, 07/31/2014 - 16:25 | 5029203 1929agin
1929agin's picture

war is here

Thu, 07/31/2014 - 16:28 | 5029218 thamnosma
thamnosma's picture

Not much major media coverage of IS lately.  Wonder how they're doing.  Last I heard they've ordered clitorectomies for the female population of Mosul.   Ghouls.

Thu, 07/31/2014 - 16:38 | 5029282 oudinot
oudinot's picture

The women who fuck those ISIS goons  don't need a clitorectomie as they will never achieve orgasm........

Thu, 07/31/2014 - 16:24 | 5029201 1929agin
1929agin's picture

Next "blood moon" October 2014, hhhhmmmmm... related?

Israel under attack

Nato countries trying to decide whom they believe?

UN desperate dillusion!

Market turmoil begins

Ponzi Scheme unravels.....


Thu, 07/31/2014 - 16:32 | 5029251 MeelionDollerBogus
MeelionDollerBogus's picture

Israel Attacks

Market Turmoil Abounds

Ponzi slips

couldn't resist a haiku.

Thu, 07/31/2014 - 17:39 | 5029574 Davos
Davos's picture

Yellowstone erupts

Thu, 07/31/2014 - 16:28 | 5029219 fzrkid
fzrkid's picture


Thu, 07/31/2014 - 16:47 | 5029333 BeetleBailey
BeetleBailey's picture

Hmmmm...must mean.............


Thu, 07/31/2014 - 16:29 | 5029221 spinone
spinone's picture


Thu, 07/31/2014 - 16:28 | 5029222 spinone
spinone's picture


Thu, 07/31/2014 - 16:28 | 5029224 LawsofPhysics
LawsofPhysics's picture

"Directly monetize the debt?  We would never do that."  - Ben Benanke


Now, can we finally execute this motherfucker?

Thu, 07/31/2014 - 16:30 | 5029233 MeelionDollerBogus
MeelionDollerBogus's picture

SPY down, HVU up! And not just with the reverse split. The power is now 10.55 so it's acting like a 10.55 inverse to SPY, DIA, and that's cool given SPY is moving down.
New equation: 256.8546 = SPY x HVU 1/10.55

The split isn't what did this at all, it's the sudden splash down of space-station SPY.

Thu, 07/31/2014 - 16:32 | 5029250 bid the soldier...
bid the soldiers shoot's picture



Commodore  Yellen:

"I have not yet begun to print"

Thu, 07/31/2014 - 16:48 | 5029337 kurt
kurt's picture

The Dollar backed by the full wrath of the Federal Reserve System.

Thu, 07/31/2014 - 18:18 | 5029750 bid the soldier...
bid the soldiers shoot's picture



Any port in a storm, pal.

Thu, 07/31/2014 - 16:35 | 5029262 OMG
Thu, 07/31/2014 - 16:39 | 5029266 oudinot
oudinot's picture

There were some margin calls today, oh, yeah, baby .  There are brokers on the phone as we speak asking for cash from their 'deer in the headlight' clients or they are  selling their paper shit in the morn.


WTF didn't gold go up today?


The only thing I saw up was wheat.

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