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Russell 2000 Enters 10% "Correction" As S&P, Dow, Transports Break Crucial Technical Support
The small-cap Russell 2000 is down over 10% from its July highs (down 6.2% year-to-date) as VIX is back over 17. Treasury yields continue to collapse (down 8-9bps today alone) with 10Y trading with a 2.40% handle (and 3Y under 1% again). All other major equity indices are also red from the Russell 2000 peak in July and have broken various key technical levels today - S&P below 100DMA, Dow Industrials below 100DMA, Dow Transports At 100DMA, and Nasdaq broken well below its 50DMA. Russell is back at levels first seen a year ago.
Once again post EU Close - Silver, Crude and stocks tumbled in sync...
Russell in correction...
Other major equity indices breaking key technicals...
Financials continue to catch down to credit...
and Treasury Yields are collapsing....
An odd reaction by bonds which "are in a bubble" and stocks which "aren't"
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Houston, we have a problem.
dallas. dallas, we have a problem.
but seriously, in the new bad is good paradigm, shouldn't ebola in US be the most bullish signal ever? i am shocked the market is not up like 4,000,000% today.
Again, it's the 125 DMA to watch for breaking below now.
http://www.marketwatch.com/investing/index/SPX/charts?symb=SPX&countryco...
I suspect the market will bounce right around 1940 on the S&P before smashing below that level soon.
But that's where all you Fonzamooktards can all start blabbing BTFD again!
125 is useless, you want 80, 200 and how consumer spending compression collapses as this is volatility led, and thus trades on option related perceptions.
Anyone who says strong dollar is good for the bull run is full of shit, if the US was consuming from the world markets, then yes; you purchase more, however the US has not been a growth market in 15 years, ceding that title to China and has been a service/merchant economy (and thus, will get clobbered hardcore)
I can see this consumption led demand, started by Dr. Copper, moving through energy/oil complex pushing into the MOMO soon. Smells all like June 2007 again, which is just what ECB/NYFR need to justify a fresh twist control.
edit: lol at all those guys who said go buy Euro markets and leveraged debt products with emerging market "growth". All we need is the new "Mexico" or "Argentina" moment to really kick this thing into overdrive.
Look at the chart you idiot and tell us how useless the 125 DMA is!
DUUHHHH!!
How droll, you argued using a grunt.
Explain, if you are qualified to, what does the 125 the 80 and the 200 day line mean. Go ahead, we're waiting big fish.
If not, go back to your E-trade terminal and mash some GLD some more.
Look at the chart you fucking dope!
And stop wetting yourself..
Looks like 1945 is the low for today and so here's the bounce before plummeting into the abyss in the next few days
For maximim benefit, you can shove all the moving averages up your proprietary oscillator.
You mean you're going to pass up this chance to buy some cheaper Ali Baba Stock ?
Quantitative Ebola Easing 1, coming soon to a reserve near you!
Long ebola, short life.
buy stock in pharma, and hospital companies, and chemical outfitters.
...and dump any Retail, Airline, Construction/Homebuilders stock.
Folks be stayin' home..... their current home.
Friday's just around the corner. And then next Tuesday. Come on we were so close to breaking the bonds of gravity!
I don't have a problem; I'm short the S&P, remember ? That 's what you do when things are too high; you sell them short.
How can NY Fed allow this? Oh, wait, they're not capable of propping up markets 100% of the time?
Elsewhere: Amazon declares Tom & Jerry cartoons racist http://tinyurl.com/pxzyzry
fuck it... I'm buying some puts.
Why didn't you do it when the market was making "record highs'. Also, options are not appropriate instruments for individual investors. you should be operating in the futures market.
im guessing this means more QE since its working wonders of the "crown jewels" of compaines in japan
Honda to cut production in Japan 20% over next few months, Nikkei says
Due to slower than expected sales and recalls that call for improved quality control, Honda will cut daily production in Japan approximately 20% in October and November, Nikkei reports.
http://asia.nikkei.com/Business/Companies/Bloated-inventory-forcing-Hond...
Abeconomics
what an effing joke
Meh, nobody wants a new Honda that glows in the dark.
Letting that shit go was a huge mistake. I read boron (cheap stuff!) dampens nuclear reactions.
Someone tell the japs.
I have a feeling that soon, very soon, financial matters will be the least of our concerns.
Oh whatever, Chiken Little.
Just heard from the NAR that today is the best day to buy real estate!
the vacation/second home market i follow
flashing
Run for Exits!
(inventory highest in 4 years and price cuts galore)
Yea but, this is when the savy infestor will step in and snap up all these bargin basement prices!
HA!
where/how do you follow, Bells?
outer banks, NC
i've been keeping a weekly spreadsheet since march 2007
God, I LOVE it down there. Got a chance to play with a reggae band at Port O' Call - https://www.youtube.com/watch?v=y4igOMmZsu8&list=UUINpD3t4T3ljqSdRlcpdDEA - and I have been looking to buy there since my trip in August. Won't do it now since the bubble is still here, so I will wait for tears and blood in the street.
Thanks for the insight on the market there.
small world ... i've spent many a night in Port O'Call
prices not nearly as bad as they were before recession ... but unless you want to eat a negative cash flow sh!t sandwich every year ... still too high (plan on renting out during in season)
Even if todays action beginning of "it" ... next fall would be earliest i would consider buying ...
Plus 100 for enthusiasim, Doc!
Gots dat Island spirit, show 'nuf.
Too bad there's not an evacuation/safe home market.
I work in credit risk monitoring cash flows at a GFI. My workload has gone up around 800% since this time last year.
"GFI"
= got f****d indirectly?
That's what my pay check says.
if they can't tax us and put us into debt they will kill us
Can't have Teaxas secede so...
"key technical levels"
Yeah right - as if there is a mathematical theorem that qualifies them as trend indicators.
Maybe the stock and bond markets have become a kind of Klein bottle. Perhaps both are in a a bubble, but liquidity moves from one to the other but never leaves the system. It's probably not an apt analogy, but I wanted to show how smart I am by using "Klein bottle" in a sentence.
ever used a Klein bottle for peeing in a traffic jam?
my dad did and i always used to think "wtf? we just passed 3 gas stations! It's an Astro van not a B-52..."
coke and mentos leap to mind...
/metaphor
I nominate this Stones' number as the anthem for the Dow and Real Estate.
"The prime rate's going up up Up UP UP UUUUPPP!"
Time for QE V, or QE Infinity (This time we mean it!).
patience, grasshopper
Aka the "I regret selling my gold" trade.
We're super serial.
wonder if today for once this won't mark the bottom????
It won't
So avoid heights, ropes and firearms.
I'm seeing a Malaysia Airlines Ad top L for Frankfurt to Kuala Lumpur via Kiev - special offer
one way, right? ....
More like half way.
Yes, but I am further distracted by chick's ass in the travel dating ad, it's exactly on the level of the climax in the Russell 2000 chart.
Damn. You get all the good ads. I'm seeing LLBean fleece jackets.
P.S. When does Kramer begin his BTFD dance?
Someone get Gideon Kono on the phone stat.
O?T but did youse guys see this article by Martin Wolf?
http://goo.gl/R79xn9
Hedgeworthy, no?
and the ny fed thinks it's moral and not corrupt to pay 5 basis points in reverse repo today to their friends and provide them with $212 billion in collateral when just yesterday players prayed for collateral and paid the ny fed up to 20 bps to pretend to own the collateral for a day (or two, it seems).
2 Fridays ago I recall 'tha smart money' broke records buying in fully leveraged.....WTF?
relational unwinding?
Did anyone else see "Ina Fried" of ReCode on CNBC at 1:45est ?? Hilarious.
Best time to Buy is when there's Ebola in the streets!
fake when it goes up, fake when it goes down
where's the "plunge protection team" at?????
It's not 3 PM yet - just wait.
stateside
I'm buying it all today. I have to try something different.
Jerry : Well here's your chance to try the opposite. Instead of tuna salad and being intimidated by women, chicken salad and going right up to them.
George : Yeah, I should do the opposite, I should.
Jerry : If every instinct you have is wrong, then the opposite would have to be right.
George : Yes, I will do the opposite. I used to sit here and do nothing, and regret it for the rest of the day, so now I will do the opposite, and I will do something!
( He goes over to the woman )
George : Excuse me, I couldn't help but notice that you were looking in my direction.
Victoria : Oh, yes I was, you just ordered the same exact lunch as me.
( G takes a deep breath )
George : My name is George. I'm unemployed and I live with my parents.
Victoria : I'm Victoria. Hi.
let the ramp begin, don't forget Draghi has a Trillion Euros to spunk up the wall tomorrow...Dow off its lows regains 16800
Coca Cola green 29 to go LOL
The printing press in full of ink,no way the S&P will break lower thatn the 50 day average for any length of time.
You mean, 'ever'?
How much dip should I buy?