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US Equities Tumble - Give Up All "Europe Is Saved" Gains

Tyler Durden's picture




 

But Banco Espirito Santo was bailed out... and Europe is fixed again?

 

 

Treasury yields are all lower on the day with the 10Y well under 2.5%

 

The driver for the weakness... as we warned earlier, USDJPY losing its overnight support...

 

Charts: Bloomberg

 

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Mon, 08/04/2014 - 11:12 | 5043791 Winston Churchill
Winston Churchill's picture

Timber.

Mon, 08/04/2014 - 11:24 | 5043880 eclectic syncretist
eclectic syncretist's picture

Equities are not looking strong today, especially with so much air (margin/leveraged debt) known to be propping them up.  I'm hoping the downturn will be slow enough (like japan in the 90's) to allow the little guys enough time to wisen up and get out if they haven't already, but it seems unlikely given the confluence of destabilizing factors globally.

Mon, 08/04/2014 - 11:33 | 5043947 Oh regional Indian
Oh regional Indian's picture

got blown away along with the spammer...

here we go again... Bangalore Blues... ;-)

https://www.facebook.com/photo.php?v=673226409428559&set=vb.239574646127...

Mon, 08/04/2014 - 11:41 | 5043985 Save_America1st
Save_America1st's picture

something's up...paper gold and silver currently getting whacked. 

Mon, 08/04/2014 - 11:47 | 5044015 Bossman1967
Bossman1967's picture

Nothing up jpm just got fined for doing it and its Monday all is normal resume the position

Mon, 08/04/2014 - 12:34 | 5044264 Publicus
Publicus's picture

Another Zerohedge article that marks the low of the day.

Mon, 08/04/2014 - 12:32 | 5044255 TheRideNeverEnds
TheRideNeverEnds's picture

Just close your eyes and buy them. This is a chance to collect more free money. Buying here is a no brainer. Look at how fast they bailed out that bank this time. There is virtually no downside risk in the broad market at these levels.

Mon, 08/04/2014 - 12:57 | 5044294 Squid Viscous
Squid Viscous's picture

OK clown i'm all in !! 192.9 SPY yay! thanks for the hot tip. have they ever asked you to be on CNBS? you would be great...

Maybe you're trying to be funny like Million $ Boner? at least he has some substance in his sarcasm - but you just come across as a tool, in which case I take the clown comment back...

Mon, 08/04/2014 - 13:34 | 5044582 TheRideNeverEnds
TheRideNeverEnds's picture

LolSPY why would you buy that? Man up and buy some e-minis, go hard or go home is what I say. Don't want all that delta risk? Sell some puts, I shorted more puts in the ES today in fact. I'm up three hundred per one lot already. Seriously, selling puts in the ES is like having your own printing press. You take heat for a few minutes to a few days depending on the timing but in the end it's money in the bank.

Mon, 08/04/2014 - 11:37 | 5043966 Bossman1967
Bossman1967's picture

Dont look now markets going positive gold and silver going down the fix is in. Its Monday

Mon, 08/04/2014 - 11:12 | 5043793 Agent P
Agent P's picture

Where's white house?  I want to learn how to make $9500 working 12 hours a week.

Mon, 08/04/2014 - 11:13 | 5043801 Jim in MN
Jim in MN's picture

See, first you find some 'folks'....then.....

Mon, 08/04/2014 - 11:17 | 5043827 Keyser
Keyser's picture

It's the big one Elizabeth!!! 

Mon, 08/04/2014 - 11:45 | 5044005 Bossman1967
Bossman1967's picture

Arnt the folks a rival of the Crips?

Mon, 08/04/2014 - 11:24 | 5043878 oudinot
oudinot's picture

Actually, White House works 9500 hours a year to make $12.

Mon, 08/04/2014 - 12:21 | 5044184 markar
markar's picture

the agony of dyslexia

Mon, 08/04/2014 - 11:25 | 5043890 eclectic syncretist
eclectic syncretist's picture

Maybe he started his 12 hour shift.

Or maybe he suddenly woke up and realized he's working about 60 hours a week for $0 here pumping his 12 hour earnings there.

Mon, 08/04/2014 - 11:13 | 5043796 Jim in MN
Jim in MN's picture

Wake me when interest rates are normalized and psychopaths are no longer in charge.

Until then, keep stackin'!

Mon, 08/04/2014 - 11:20 | 5043853 Greenskeeper_Carl
Greenskeeper_Carl's picture

im beginning to wonder if i will live to see that(I'm 29)

Mon, 08/04/2014 - 11:26 | 5043894 Old Man River
Old Man River's picture

|2-9| = 7

 

 

hmmmm....

Mon, 08/04/2014 - 11:41 | 5043986 813kml
813kml's picture

(29 - 29) + 7 = 7

Double hmmmm...

Mon, 08/04/2014 - 11:59 | 5044075 SheepDog-One
SheepDog-One's picture

But this one goes to 11.

Mon, 08/04/2014 - 11:14 | 5043798 logicalman
logicalman's picture

A bunch of paper promises went 'poof' and have now been replaced with some new paper promises.

All fixed.

Mon, 08/04/2014 - 11:15 | 5043811 I Am Not a Copp...
I Am Not a Copper Top's picture

Thus marking the bottom tick...

Mon, 08/04/2014 - 11:17 | 5043820 Tenshin Headache
Tenshin Headache's picture

Not this time, IMVHO.

Mon, 08/04/2014 - 11:34 | 5043954 tickhound
tickhound's picture

When we hear the cries of overSOLD, and the markets plummet right through these imaginary pundit lines of support, I'll start paying attention.

Mon, 08/04/2014 - 11:16 | 5043821 Al Huxley
Al Huxley's picture

You're late, they've already bounced back.

Mon, 08/04/2014 - 11:16 | 5043824 jubber
jubber's picture

here comes yet another Gold and Silver smash and Oil getting swiftly knoocked back down for daring to move positive

 

Mon, 08/04/2014 - 11:16 | 5043825 Kaiser Sousa
Kaiser Sousa's picture

its almost everyday that in the last hour of trading in London that the Fraud markets rally and the slam on Gold and Silver accelerates.
just sayin

http://www.marketwatch.com/investing/index/DJIA

http://www.kitco.com/charts/livesilver.html

Mon, 08/04/2014 - 11:40 | 5043979 Kaiser Sousa
Kaiser Sousa's picture

and the beat goes on in Gold and Silver phony paper markets..

Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against J.P. Morgan Securities LLC (JPMS), a wholly-owned subsidiary of JPMorgan Chase & Co. and a CFTC-registered Futures Commission Merchant (FCM), for submitting inaccurate reports to the CFTC relating to the required reporting of positions held by certain large traders whose accounts are carried by JPMS. The reporting violations occurred despite the CFTC notifying JPMS of numerous errors in its reports. The CFTC Order requires JPMS to pay a $650,000 civil monetary penalty to address its unlawful conduct.

The reports are known as the “large trader” reports and are used by the CFTC in order to evaluate potential market risks and monitor compliance with CFTC requirements.

CFTC Director of Enforcement Aitan Goelman commented: “The large trader reports are vital to the CFTC’s role in monitoring market behavior and are important to members of the public, many of whom rely on that information in forming trading strategies. Therefore, submission of accurate and reliable data to the CFTC is essential. The CFTC will be vigilant in enforcing these rules in order to ensure the integrity of the regulatory structure and to maintain transparency in the markets.”
http://www.cftc.gov/PressRoom/PressReleases/pr6968-14

Mon, 08/04/2014 - 11:44 | 5043997 Bossman1967
Bossman1967's picture

Ill gladly pay 650,000 to make 5 billion in the manipulation .un fucking believable. Even the crooks get scamed

Mon, 08/04/2014 - 11:19 | 5043836 Keltner Channel Surf
Keltner Channel Surf's picture

As expected, a return to Friday's lows for the Russell, with a strong bounce attempt in progress.  This is "by the book," bouncing almost to the penny where seasoned traders would have expected, so the big question is whether they can go up and eclipse the morning highs (easily done by 2013 Russell ninjas), or does this flounder like a fish on land and give us a more substantial break (?)  As I type this RUT is being frantically goosed, do they have enough ammo ?

Mon, 08/04/2014 - 11:19 | 5043846 asscannon101
asscannon101's picture

HUZZAH!! We've saved Greece- again!! No, wait...

Mon, 08/04/2014 - 11:20 | 5043848 _ConanTheLibert...
_ConanTheLibertarian_'s picture
US Equities Tumble - Give Up All "Europe Is Saved" Gains.....before they shoot up again and end higher.

You know the score.

Mon, 08/04/2014 - 11:21 | 5043852 Burticus
Burticus's picture

But, but, I thought bad news is good news now...or good news is bad news.

Dang, this central planning/banking bull$#!+ has me all confused!

The only thing I know for sure is that my stack of physical silver bullion bars & coins is real and the central/bankers & elephant/jackass costume wearers can't rob it with a couple clicks on a computer keyboard.  Oh, wait, I almost forgot that I lost it all in a tragic sailing mishap.  Never mind...

Mon, 08/04/2014 - 11:55 | 5044051 Bemused Observer
Bemused Observer's picture

Yes, they tell you gold is a barbarous relic, not worth spending your money on. Only fools chase after shiny metals.

And yet, this past week saw me sell a little over a pound of old 12k gold-FILLED eyeglass frames for almost a thousand dollars...gold FILLED. Refiners are now scooping up gold-filled stuff to get at the gold. And paying a lot for it.

I know a bit about the refining process, and getting at the gold in gold-filled is a messy business involving acids that are often thrown in the faces of women in some countries. Those women (the ones that live) all look like melting candles now...And you have to get all up close and personal with several of these acids during the process. No way they are doing this for the current, official price of gold. In fact, up till a few years ago you couldn't give away gold-filled stuff, few refiners would take it unless you were talking truckloads. And eyeglass frames are the 'trailer park trash' of gold scrap...
Now they are buying them. Check Ebay, see what some of these lot's go for, it's crazy. Unless gold is actually very underpriced, and getting harder to buy from traditional sources...THEN it makes sense.

Mon, 08/04/2014 - 11:20 | 5043854 101 years and c...
101 years and counting's picture

call your local fed printer if your market erection lasts fewer than 4 hours after a bailout.

Mon, 08/04/2014 - 11:20 | 5043855 Spungo
Spungo's picture

I make $9500 per week selling cocaine. You should sell cocaine.

Mon, 08/04/2014 - 11:22 | 5043865 _ConanTheLibert...
_ConanTheLibertarian_'s picture

You forgot to link to your spam website.

Mon, 08/04/2014 - 11:27 | 5043901 icanhasbailout
icanhasbailout's picture

here you go:

 

http://cia.gov

Mon, 08/04/2014 - 11:57 | 5044064 Badabing
Badabing's picture

If the White House dick makes $9500 in 12 hrs why does he waste his time spamming?
Just logic

Mon, 08/04/2014 - 11:29 | 5043915 Bemused Observer
Bemused Observer's picture

Do you have a sister?

Mon, 08/04/2014 - 11:21 | 5043859 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

ZH misses the bottom call by 4 mins. that's a huge miss compared to normal. 

Mon, 08/04/2014 - 11:21 | 5043860 icanhasbailout
icanhasbailout's picture

Evidence continues to accumulate for my theory that HFT bots trigger on ZH headlines

Mon, 08/04/2014 - 11:29 | 5043913 Jim in MN
Jim in MN's picture

Nervous Nellies at the Treasury/Fed???  Maybe the ZH pops up among the porn feeds.

Mon, 08/04/2014 - 11:31 | 5043931 Keyser
Keyser's picture

More closely correlated to the numpties on CNBS... Cramer the Clown slammed Michael Kors this morning before the open... The rest is history... 

 

Mon, 08/04/2014 - 11:32 | 5043940 jtz5
jtz5's picture

I agree.  Tylers, let's do an experiment...

Mon, 08/04/2014 - 11:35 | 5043960 GrinandBearit
GrinandBearit's picture

No doubt about it !

Mon, 08/04/2014 - 11:27 | 5043906 Kaiser Sousa
Kaiser Sousa's picture

and why the fuck is the phony paper price of Gold and Silver being shat on....?

"WASHINGTON (MarketWatch) -- General Motors GM +0.98% disclosed in a Securities and Exchange Commission filing that the Department of Justice has subpoenaed information about the subprime auto loans its General Motors Financial division has made since 2007 over a possible civil lawsuit. "Among other matters, the subpoena requests information relating to the underwriting criteria used to originate these automobile loan contracts and the representations and warranties relating to those underwriting criteria that were made in connection with the securitization of the automobile loan contracts," GM said. According to data from S&P, GM is the number-two securitizer of subprime auto asset-backed securities, behind Santander Consumer USA SC -0.94% ."

Mon, 08/04/2014 - 11:31 | 5043933 jubber
jubber's picture

Gold and Silver LOD . attention now to get Oil back negative what a fucking manipulated pile of shite this all is.

Mon, 08/04/2014 - 11:38 | 5043970 Bemused Observer
Bemused Observer's picture

I guess TPTB are going to start letting some banks fail. So, it appears that they CAN'T prop all things up all the time...some things get past them, or have to be let go...but WHO gets to go, and WHO gets 'saved' in a world that can't save everybody?

Maybe they'll try for a slow motion collapse, in the hopes that it's SO slow people don't see it as a collapse. Or maybe they just 'dropped' this one by mistake. But we are approaching a pivoting point where things are going to start happening rapidly.

But we will NOT see it coming, not spot the moment before it hits us. We'll only recognize it after the fact, and then we'll all say that yeah, we DID SO see it coming, and we told you so...

Mon, 08/04/2014 - 11:58 | 5044070 Duffy
Duffy's picture

the dollar continues to have the ruble in an arm bar because, apparently, of a couple sanctions, completely ignoring the pending costs to American banks/credit cards as well as, in all likelihood, nat gas companies, however inchoate those losses, and a Russia/India/China axis better prepared to deal in non-dollar transactions than ever.

Least dirty shirt or not, the dollar is propped up by little other than an overextended military.

This shit can not last. 

 

Mon, 08/04/2014 - 12:17 | 5044169 ghostzapper
ghostzapper's picture

I'll label myself an idiot before everyone else does but I'm ready to be crucified.  My fucked up "not tainted by Joe Lavorgna" brain tells me the following as more than likely:

- ES bottoms intermediate term in the 1890-1905 range and then rockets up to new all time highs perhaps around 2100 through the second half of August and through September.  I know, I know it's crazy but I see one more momo monkey bonanza.  After that maybe THE crash to the bottom of the megaphone but will analyze if/when there.

- Gold drips down to 1150ish into the mid to late fall and from there resumes the long term bull.  Even I am considering getting long at this point if/when this happens. 

 

If ES plunges hard with volume through 1880-1890 then I see it differently.  if not then as absurd as it seems I see one more hopium thrust. 

Mon, 08/04/2014 - 14:56 | 5045008 nosoeawe
nosoeawe's picture

the zero hedge effect is in full force today. the moment this article was posted, the algos went into over drive and bought the market. currently trading 13 points higher.

what would happen if zero hedge posted a bullish article? 

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