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Stocks Slide To Red On The Week As Draghi Dream Dissolves
Who could have seen this coming? Well, credit markets for one. US equity markets have slipped into the red for the week, catching down to High-Yield credit's early warnings. The S&P 500 cash index is back at the magical 2,000 (so expect a magic bid). Treasury yields remain at the highs of the week (+12bps) but are beginning to limp lower. EURUSD is holding near its lows under 1.2950.
ECB rumor/news spike is fading...
Stocks slip to red on the week...
S&P at 2,000..
Catching down to credit.
As EURUSD holds losses...
Charts: Bloomberg
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After Draghi's Placebo this morning, soon we'll have Yellen's Placebo, or probably Yellen's Margin Call
Again, learn how the system works:
ECB does monetary policy by looking at Target2 unpaid bills
Fed does monetary policy by looking at World Derivatives
I think I can handle the world without derivatives. To top it off, why after the last financial crisis did these people go ahead and create more derivatives rather than less? So they could scam more people. So they could off load risk. BS. Who really needs a weekly derivative on a stock. This isn't investing and it certainly doesn't create any capital formation that is lasting.
It's a suicide belt.
Bank lobby expanded derivatives as suicide belt on the financial system.
It will explode
It's not about capital formation, its about insiders 'gambling' with a marked deck, a handful of aces up their sleeves and a 'do-over' card if they fuck up.
Draghi Top......................nice.
stocks top when everything is at its peak (confidence, production, printing money, etc....). with the ECB going "all in" (as far as they can), this is the peak.
What did I tell you mooks!?
http://www.zerohedge.com/news/2014-09-03/nasdaq-tumbles-red-week-sp-cros...
But NOOOOOOOO.....
Oh the humanity!!
I think I'll go shoot my High Point...
Thanks for the buy signal, Tyler!
Idiot!
buy the bloodbath in the miners
feels like some fund getting liquidated - GDX, NUGT
No, it's just the inevitable breakdown of a two month 'consolidation' phase. They'll set new lows before this one's done.
its the 'shmucks that listened to the gold pimps on zh fund'
Why? They're idiots who produce at a loss because 'hey, what can we do about it'? Fuck them, they all deserve the bankruptcies that are looming for ALL of them.
Fiscal Viagra only lasts 4 hours. Quick! Time for another multi-billion dollar fiscal blue pill and get that market raised by 4PM!!
Well that was short lived
Can't wait to see what tomorrow's rumor is.
These are getting better and better. Like a hologram of action!
pods
rumor is tomorrow is friday. enuff sed.
stocks slide but gold melts. at a much lower temp than it used to .
Weaken the euro...mission accomplished.
Shorts will cover into the close because no one holds overnight if you're short anymore. we'll see green bars maybe even back to SPX = 2000
unless there are no more shorts - in which case, look out below.
What shorts? I thought all the bears were no longer of this world.
intra-day swing-trading shorts, and those who fade the high of the value area after a gap up.
Well, the 3:30 15m candle was the highest volume of the day after the open in SPY, very 'hammer"-like, so that either means a fake-out down then up to 2001, or a plunge into the close an additional pivot. I'd bet on the former, anything below 2000 scares the 401 (k) crowd, and the machines have their orders . . .
Not me. They probably will try and squeeze the close, but every rip is getting sold so it's only a matter of time. I'm standing fast........
It feels like it is all coming to a head. The extremes we are witnessing are even beyond what we have become accustomed to. When all is lost, there's no reason not to go all-in.
As Mario Draghi sits at an unlit table nursing a cigarette, Billie Holiday, framed by a solitary shadow from the microphone stand, begins to sing:
You told me that I'd be wearing diamonds
I would have the smartest car in town
Made me think that I'm the top
And then you let the ladder drop
You know you let me down, let me down
. . . how you let me down
https://www.youtube.com/watch?v=wJhQXDMmM2A
My 'Dream' abruptly ended when I was 28: I got married, my sex life slowed down, I got fat, I got bald, my beautiful kids cost me a fortune: since then, I am just attempting to soften the 'future nightmares' that are going to become upon us: economically (poverty), politically (war, possibly nuclear, police state) and morally (people having to survive).
As my 1980 grade 12 English sadly told me a November day in 1980:' the dream is over' (the day John Lennon died).
My dream is over.
Just trying to slay the nightmare.
Yeah... but we had a good run, didn't we? I was 1 year ahead of you -- 'last of the red-hot 70s', and they were right. :-)
Over 1/2 the Dow now red...
A-n-gel. [/bowie]
Pretty much what I thought it would do... There was even a $1.70 billion POMO today.
The usdx is probably not far behind... The usd/jpy wasn't able to take out the high for 2014 on that 1.00% spike in usd either.
BINGO!
Goldman chosen to open Alibaba, they will prop til the IPO, every fking time, watch
someone ramped the FTSEMIB futures up over 100 points there at the US close and the DAX 40 points
S&P below sacred 2000? Oh the humanity!!
Not for long just an hour later S&P 2001 DOW up 40 DAX up 60 from its low and FTSEMIB up an incredible 200 points from its AH low, notning dodgy there!!!
molon labe
A then recovers 10+ handles.
STOP DOING THIS!!!!!!