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Futures Slide, Take Out August Lows, Russell 2000 Almost 1000
Whether it is the lack of any favorable news out of China (in fact, quite the contrary), which the BTFDers on Friday were praying for, or the worsening of the global Ebola pandemic with not only a second confirmed case hitting Texas but panicky reports of Ebola infections from Boston all the way to Los Angeles, or simply the lack of any words of encouragement from the Fed, the Friday rout has continued into the early Sunday night trading, and as of moments ago, the December E-mini future dropped to 1880.5...
... taking out the August lows, and sliding to levels last seen in May.
The selloff for now appear mostly driven by yet another carry currency unwind, with USDJPY sell stops triggered in morning trade, according to an interbank FX dealer based in Sydney, cited by Bloomberg. The other carry pairs aren't doing much better either.
The good news: the S&P still has about 70 points to drop for the S&P500 to go red for the year, a luxury the Dow Jones does not have, as it is sliding ever deeper into the red for 2014.
But the most dramatic plunge continues to be in the Russell 2000 which just can't find any support, is back to mid-2013 levels, and at this rate will be renamed the Russell 1000 by early morning:
And whereas previously this kind of market Risk Off drubbing would be a perfect storm to send gold higher, for now the yellow metal is sitting very much unchanged from the Friday close. That will change soon, as either margin driven liquidations will force even more GLD paper selling, or finally the flight to safety will override the relentless commercial/central bank/BIS rigging of paper gold and send the price in any FX terms surging.
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K-Hen, you're our only hope. /s
"The Russell 1000 by morning."
Comedy gold...
It took me a while, but I finished.
IF The Fed really wants a weaker Dollar and IF propping up equities is the priority, I have a suggestion for them: Stop manipulating Gold!! With the taper almost complete and with "Belgium" still needed for buying the Treasuries that nobody wants, they now have limited ammunition left anyway and can no longer do everything. I expect QE4 to be launched very shortly. EIther way, finally looking positive for Gold.
Jump you fuckers!
New highs in 2 weeks...then watch out....this is too easy
Great.. now i'll have to get up early
and buy more gold tomorrow..
Save the "free markets," Sister Yellen .
Ensure "market efficiency," Father Dudley.
Be our guardian for "market fairness," Brother Evans.
Protect speculators from harm, K-Hen.
Be seated at the Right Hand of the Father, Edward Quince.
Until the music stops......................
.
Lets take a look at that recent article by ZH posting the extreme fear/greed indicator. It was a 4 and by Friday afternoon a 1. That indicated extreme fear or full scale panic. The central banks will short squeeze the shit out of everyone selling. Time and time again this always happens. Nobody learns. Its the same game played people. You panic, banks get rich.
Even if the Fed buys stocks and futures they could only force shorts to cover. They can't force people into buying. That's why we've had all the previous crashes.
4000 troops in Ebola land. Doing what? Get them infected, bring them home and turn them loose on the public. Declare martial law.
BTD? Nein.
They're "fighting" microbes....just need some more forces and weaponry over there and we'll have this virus on the run
Under martial law, do we get to vote?
Nope, they'll do that for you.
You mean like now
If voting actually made a difference, it would be illegal.
note that 'troops' consist mostly of poor kids from rural areas and high population states. when it turns out they are passing Ebola along to the poor and the old, you'll see the strategic vision our fearless leaders developed to combat the pandemic of underemployment and social security insolvency. conspiracy theory becomes conspiracy fact, soon enough.
got Hazmat?
Well you're a cheerful charlie aren't you. I keep telling everybody, what we need here are more stories about cute kittens. otherwise this is going to get depressing.
Yes, especially in articles about the RUT. Surely there are enough Ebola threads already?
Hilarious -
Over at another ZH post, the meme is currently "Ebola is a 100% hoax". Here, it's a fait acomppli. Either we're all dupes here or the trolls/CTs haven't arrived yet.
My friend from high school who is an MD says this virus is a very poor candidate for a significant epidemic in the US. Actually what he said was; "it's a media event; with some victims from failing to cut off travel to and from the infected zone". The points he made were that the virus is very fragile in the environment; and it's not very infectious; un like small pox, for instance, which is very infectious; or the flue virus, which is extremely infectious. So, that's what I was told.
Ebola is not particularly infectous........unless
it is airborne....... then we are fucked.
Ha-Ha, I posted it here before you did Tyler. So what does everyone think; slightly bearish ??
Does anybody know if equities trade in Japan tonight?
http://holidaystracker.com/stock-market/tokyo-stock-exchange-holidays-2014/
Health and Sports Day? Wtf?
Japans closed all day.
Alright alright no need to show off.
how many overnight ramps have wee seen over the past 2 yrs that would indicate it'll reverse overnight? maybe 'this time is different' but i won't be surprised when the e-mini turns a green by US market open. w/ bond markets closed, it's a perfect set up for a 'low volume melt-up.'
You won't be surprise; but I'll shit right in my office chair if the fucking thing turns green. What are you smoking anyway; can I have some?
put some newspaper down before you take that dump, otherwise you'll never get the smell out.
guess which futures just hit 1896 on my terminal?
low volume melt-up, same as it always was.
the question is: will they continue higher or face more dumping? we'll find out soon.
my mistake 1887; it's off the bottom for the day. maybe rallying.
Updating my checking into the night trading of the S&P500; large volume small price range; now at mid-range. Not indicating anything. could go either way. Current price is still close to the Friday close actually, and nothing dramatic is going on with it. 12pts. between the high and the low of the evening. don't know. The volume means something; but what? don't know. I don't see this as bearish for tomorrow at this time; it just doesn't say anything one way or the other.
Carl Icahn will tweet us out of this dip.
Cooler heads will prevail.
The electricians are on call for the circuit breakers.
A modest correction…relax…drink this CNBC kool-aid.
There's money on the sidelines.
The Fed has your back.
Look on the bright side.
It's only money.
Every cloud has a silver lining.
Make lemonade from lemons.
Climb the wall of worry.
Forward.
And BOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOMMMMMMMMMMMMMMMMMM!!!
Can't remember a Sunday when PMs did not start red then stay red through the night. Game over man, GAME OVER!
But what I wanted to know was, did the Raiders win? See, I can't help it, I'm a raiders fan; it's kind of a mental problem. So did they ?
Now I'm starting to worry - there's a PM spike we haven't seen in a long time (2126 EDT).
Yeah that 's a nice spike in PM's in Hong Kong. later we'll see what London and New York do with it, of course.
Yeah; but it's not really significant. it's a tiny price range and it's kind of stuck in the middle of it. I would 50% chance of a significant rally for tomorrow; say close over close for Friday. Certainly nothing I'm interested in putting any money in. replying to team depends.
At least you can take your sack-cloth and ashes and make the Poor Man's Hazmat Suit .
This has been historically battle proven . It might save some lives Regards Andre xxxxxxx http://andreswhy.blogspot.com/2011/07/rotting-clothing.html https://www.academia.edu/8743634/Ancient_Mongolian_Hazmat_SuitHalp us O wizards of smartness, we affeared!
cracking me up. what kind of hat is that? oh, and the wizards of smartness are all out of ammo. I think. No, wait; they just called for Battalion Arty. to fire on their own map co-ordinates. Hmm. might have to find some new wizards ?
Yeah, they're out of ammo on a host of levels.
Now its just moar diversions and fearmongering up till the point we remove their masks.
You remove the masks I'll run the SKS with the scope on it; I'm really, really, good at this.
I told my family to hold tight until dr frieden tells us what to do
WHAT???? No more BTFD?
BTFD has taken on a new meaning for shareholders:
Better Trade For Dollars...
Again, I wonder if this has more to do with Ebola than people might think. As in, those in the know...know something that most of us do not about Ebola in America and near-future events.
Well, in my opinion, which is worth exactly nothing, there are no "those in the know". Really. I mean, I realize it's a little unsettling; but I really don't think anybody knows their ass from their teakettle.
I should have clarified. I meant those with all the money. Those that would be able to cause these big losses in a short amount of time if they decided to get out while the gettin was good.
Learn to think like a market mover; big losses don't get them anything' they sell out in a controlled manner like we saw last week. They've already decided to get out; last week wasn't some kind of kiddies birthday party. but they sell at the best price they can get. it doesn't do them any good to panic all the horses in the stable. They'll keep their foot off the market's throat today; in the hope that people will bid the prices up to somewhere; so they can make more money as they continue to unload t heir positions. it's really not nuclear science; it's just looking at it from their point of view.
Agreed...until they run out of time. I'm thinking more along the lines of a crash, not selling in a controlled manner. Guess we'll see. I'm no expert but this has the makings of a perfect storm. No one can control a storm. I know how markets move, until they don't move as expected anymore. Maybe that time is now? That's all I'm getting at. I'm just saying "what if".
Well; jeez partner, I don't know. We just kinda have to wait and see. My opinion, for what it's worth, nothing; is that we'll see significant rallies this week. The reason I say that is that people have been coniditioned for a long time now.
I completely have understood your point from the get go and agree with it.
This particular Ebola scare, well, scares the shit out of me, and I believe I have pretty good reason to be scared. I just wonder who else it may be scaring the shit out of. That is all I am saying. Could be what tips this big thing right the fuck over. But as you say, we will have to wait and see. May not happen right away, either. In Africa, this particular Ebola scare started in December, 2013. They let it or it was allowed to get out of control (and out of their borders) all this time. It's a bad situation.
Gold up $7 as I write, silver up a fuckin' nickel. White metal continuing to slink around under the porch, needs to get out & hunt. Maybe silver collodium is the cure for Ebola? Hmmm.
Not to mention platinum up $21.00...
(Which makes no sense if you believe the economy is weakening...)
Isn't platinum used a lot by the MIC?
Believe ? I don't even believe the Sun came up this morning and its already hot outside.
Dude; iffen its slinkin unner yer porch; jump on it and lock it up.
The cure for Ebola is lead.
the walking dead don't walk w/ 2 to the head.
True, but Twilight showed us the way: after their dead, burn the bodies immediately...
damn; you're one serious old granma, eh? Well just remember, I been limping for years, and I feel fine; so hold your fire, ok?
Ever see "Contagion"?
We should just all start the story that colloidal silver is the cure. Hey, if WE think it is, it's not a lie, just an opinion. Come on, guys!! Let's get the Youtube videos going showing us all drinking the stuff and giving "glowing reports" on our health every day from here on in.
WE WILL BE THE SILVER RALLY.
Just a thought.
SPX 1870 is the down-side target before the next rebound to 1960 (at which point it will finally be game over IMO). So, it looks like tomorrow could mark the end of the selling...briefly.
Wouldn't surprise me a bit. And a good cautionary note to the people on here who still think markets go in straight lines. A buy in can definitely appear today and carry over into tomorrow; but don't relax if it does GET OUT.
Agree on the markets not going down in a straight line, so I do think a bounce is in order. Just curious what you base your 1870 on?
Thanks.
The price range of the next last prior peak and consolidation we have not yet taken out.
I'd give you a big kiss on your bald head if I could. that's right. the range. the range. never mind the head and shoulders that's a shampoo. the range actually has SOME meaning.
ok.
1880 and 116,000 volume done. not exactly bullish.
"Russell 2000 which just can't find any support, is back to mid-2013 levels, and at this rate will be renamed the Russell 1000 by early morning"
There is already a Russell 1000 (it's the large cap part of the Russell 3000, with the Russell 2000 representing the small cap portion).
They'd have to call it the "other Russell 1000- you know, the small cap one".
Besides, the whole damned Russell 3000 doesn't even have 3000 stocks in it any more.
On the other hand, the Russell 2000 has no real suppot until 860.
As you say; on the other hand. I don't really fool around with the stock market I've never trusted it I've always been a commodities trader except when I accidently made too much money and had to take 12 years off playing with my airplanes and yachts and college girls. Why anyone would want to own the Russel 2000 is beyond me; although I do remember sitting through some episodes of "Wall Street Week" with Luis Ruykser, where they were mainly discussing where the most money would be made that year. I suppose if that was your input system you could end up owning things like the Russel 2000, or the Nasdaq. The whole 'buy and hold" thing was such a shuck I found it really hard to believe they took people in on that one.
I mean it's so much work; the stock market, you know; and what do you get out it? mostly always you get screwed. Right now I'm short April'15 Feeder Catttle and British Pounds and I don't have a damn thing to worry about. Well, I'll have to pay income taxes on the profits, but I don't mind; I just consider myself part of a criminal syndicate; USA inc.
I believe that I've "held" any equity index only about a total of 2 months the past year.
Perfect. you might actually be smart; in which case you have my sincere sympathy for having to live here.
Paging Dr. Janet Yellen... Paging Dr. Yellen. Please come to the red courtesy phone in the lobby.
atleast the market dwellers will now feel what they have been doing to the previous metals all year. nobody making money now but I have all my metals. last laugh thanks barry
He who laughs last laughs best; that's what I told the guy who ran to tell me that the Soviet Union had collapsed, while I was watering my garden with a hose. He looked at me like I was crazy. I'm used to it.
Aaaand the Nikkei down 2%.
Got margin?
"Dear there's a phone call for you"; "yeah, who is it", " Mr. Margin?". Craash. Dear, dear, are you alright?
who woulda thunk a black swan disguised as a virus would swoop into our county under the radar,, or,, um,, actually with radar assitance of all kinds in a flight that long to Europe,,, then Amurica,,, swan season anyone???? Heard they can be delicious,, I think we will all have tremendously varied tastes in food if we survive the initial sweep of the infection,,, one deer in the freezer,,, back to the woods Wednesday.,,, pary on people,, like its 1999,,,, there are from here on out,,,, no guarantees,, hope you have prepared accordingly,,,,, night all,,,,,
They'll be green by morning.
PS. Just got back from the supermarket. Tide dish detergent is $18. Fuck you, Yellen.
Lucky thing there's no inflation, eh?
oh, there is something inflating, all right. It's getting real big.
are you getting the same idea I am? You and me and Janet Yellin' in a big ol' hot tub full of Tide suds....all three of us wearing our birthday suits?!
Dude, I know none of us here have slept well the past few years as central banks attempt to detroy the world for the average person, but don't use Tide in your dishwasher. Only a clueless academic like Yellen who thinks anything good will ever come of QE zero rates forever uses Tide in the dishwasher.
Please, tell me "MY MAIN MAN", will it hold?...
Want to add to my "short" positions!...After all, who knows better than "MY MAIN MAN"?
eyes, wide open, ears, to the ground, sniffing, the air, like NO other!!!
I don't get it; who are you t alking to ?
His main man
Oh, thanks; that cleared that up.
Good thing the FED had the foresight to prepare for every possible problem - looks like we will get a chance to find out what is in the The “Doomsday Book” after all.
1,000 pages with the single word "PRINT" on every one of them.
Now, that's funny.
BLACK MONDAY chaps BLACK! Get your depends on!
Monday is a half-assed holiday, with the bond market closed and most Federal offices closed, it may at most be a low volume melt up, but with no enthuiasm. I suspect a low volume slide further down is equally possible, but i'm holding a handful of TZA, with stops in, so I'm biased.
Gold up $10.10 now, silver + $.07 ... well at least it's green. Someone is sitting one fat ass on the silver price.
2 am Gold at 1234, silver at 17.56.
A few more bits of bad news and perhaps they fall. Or rise with the sun.
It's a start.