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Time For The Plunge Protection Team: S&P Red For The Year, 10Y Under 1%, Europe Crashing. No Liquidity
A quick summary of where we have been this morning: VIX > 27 (3yr highs); S&P 500 -0.4% year-to-date (6mo lows); 2Y TSY yield < 25bps (17mo lows); 10Y TSY yield < 1.90% (17mo lows); European stocks -3% (11mo lows) lows; US HY credit 410bps (15mo wides); WTI Crude $80.01 (28mo lows). So that can mean only one thing... PPT is in the house, courtesy of USDJPY... and ultra-low levels of liquidity.
Where we've been...
and now...
which rescued institutional sellers to VWAP...
As Liquidty disappeared in bonds...
And stocks
eMini liquidity still at record lows for this time of day $ES_F
— Eric Scott Hunsader (@nanexllc) October 15, 2014
But...
Whoa - More trades in CME Treasury futures as of 10am than the previous record day!
— Eric Scott Hunsader (@nanexllc) October 15, 2014
Charts: Bloomberg
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DIVE DIVE DIVE!!!!!!!!!!!!
Stock will close up today to put in the perfect bottom forming candlestick.
Are you kidding??!!!! These stocks are nothing but trash.
https://www.youtube.com/watch?v=q7Z0fGKC0Vs
why no liquidity? sell precious metals and oil ... there you have it ...
PPT on line 1
Not helping Spy though
SPY might just give up the ghost if it drops meaningfully below 186.
An ode to a market correction
The shorts have a raging erection
Don't be too greedy
Markets are seedy
The Fed has engaged plunge protection
Yep. The shorts are sold, profits go into longs. Let the farce be with you.
"Stock will close up today to put in the perfect bottom forming candlestick."
My next IPO idea, Candle on a Stick!
Hell, why not Turd on a Stick
Also known as a torch (except in the UK where that term means flashlight)
Cancel that dive, all hands on deck!
Oh..., wait...
Kevin.. Kevin.. Kevin.. Kevin.. .. Hold it!!!
WOOP! WOOP! WOOP!
PULL UP! PULL UP! PULL UP GODDAMNIT!!
I picked the wrong day to give up sniffing glue.
Well at least we can be sure of the answer to one of the pressing questions that recurs so often; will Europe go first ? Yes, Europe will go first. And Loudly, I imagine.
And those ebil Germans will be blamed yet again!
Fed stepping in and buying
Fed giving away good toilet paper to buy a steaming pile of shit.
lol. the fed is laughing. the small bounces you will be seeing are from shorts covering. wall st has sold their shares. time for a real correction.
Pass the Lubriderm, this is getting good.
pods
Jump, you fuckers.
I would absolutely LOVE to see what the Fed's activity has been today regarding baskets of stocks and some actual selected stocks. We need another audit ASAP. (and remember what the last one found).
Um, what last one? Did I miss something? Was I even born yet?
Well, the last pretend, almost-audit showed how TARP went to save Euro banks.
10Y under 2%. Not 1%. Give it another week at this rate.
Details, details.
As a software developer, I can state that it's merely a "off by one" error, and happens to the best of us. ;)
Can't find my nailgun, I may have to jump...
Somebody hold me. I just want to be held.
From behind?
From behind?
Everybody scared of the democrat delivered ebola and enterovirus.
I'm trying to help backstop the FED but I'm all out of dry powder
A real patriot. More dry powder will be printed soon; carry on !
RIP FIAT ...
they are already at worrk sitting on the Gold Mkt.
Don't worry folks, it'll be +57 green by noon EST.
I still maintain that when the time to get out comes there will be no escaping. Somebody is getting taken out today, but TPTB aren''t ready to kill off the system yet.
Until we get over drops larger than 50%, this is just foreplay.
Foreplay in a Doom Porn flick.
Exactly. Everyone I know pulled their money out and put it into "safe" funds after buying a half dozen ATHs about six months ago. This week is all about trying to get them & similar Muppets to B another FD.
pop !
Meanwhile at MW...
We are experiencing technical difficulties...
The full MarketWatch site will return shortly.
can't have people checking in to see the carnage in real time. Coincedently, it shut down at the lows.
They are busy selling theirs
dr version of their site up. Does that mean Germans? "Germans always make good stuff".
I can hardly wait; how will I know what wonderful new idea they'll tell me to switch my retirement fund to ?
I love the smell of batshit crazy in the morning!
"John Tuld: So, what you're telling me, is that the music is about to stop, and we're going to be left holding the biggest bag of odorous excrement ever assembled in the history of capitalism.
Peter Sullivan: Sir, I not sure that I would put it that way, but let me clarify using your analogy. What this model shows is the music, so to speak, just slowing. If the music were to stop, as you put it, then this model wouldn't even be close to that scenario. It would be considerably worse.
John Tuld: Let me tell you something, Mr. Sullivan. Do you care to know why I'm in this chair with you all? I mean, why I earn the big bucks.
Peter Sullivan: Yes.
John Tuld: I'm here for one reason and one reason alone. I'm here to guess what the music might do a week, a month, a year from now. That's it. Nothing more. And standing here tonight, I'm afraid that I don't hear - a - thing. Just... silence."
http://www.imdb.com/title/tt1615147/quotes
Obama called them this week. He has an election in November that his party needs to win.
I'm reminded that professional wrestling matches always produce a winner as well. Yet it has little to do with the desire of the wrestler. (Otherwise, Hitlery would've taken Obummer out long ago)
Outcomes are simply goal-seeked with the understanding that best winners to have are the ones who can fool the most people at once.
Therefore, the divisive Hitlery was told to stand down and wait for next time so that Hopium dispenser could work the Magic Negro routine. Sure, party operatives do everything they can to ensure dominance of their party. Thing is, they are far removed from the true masters who decide which direction the MSM wind blows.
The only thing elections EVER change is the rhetoric, as like all sales, it's the sizzle that sells, not the steak.
I have the government earthquake page on....something happened with this big of a movement....hole lotta shakin going on somewhere...Que jerry Lee lewis
I know your talking about some trading platform and a screen you watch but have no idea what your talking about. A morsel please? :)
At the low this morning before the V-shaped recovery(short-lived?), the S&P 500 was down 9.02% from the mid-September (all-time)high. 2019.26 at the high down to 1837.22 this morning. Must... avoid... 10... percent... correction... at.... all..... costs...... lol
We would BTFD but all the sites are down. This is crazy
Give the PPT both barrels. Escape.
While shaving this morning, I thought "what if they breach 2% early just to hit stops, then reverse everything, bonds and stocks?" I even thought the Russell I trade would see-saw, and had my orders ready, but . . . silly hesitation in the open's volatility led me to catch only part of the plunge and none of the rebound. I'm sure other traders used to low-volatility will, like me, need to adjust their psychology, as it seems opportunity is better than we've seen in years, you just have 1/10 of the time to act if you want to grab it.
Watch out for that steam-roller!
Down goes Frazier?
Q E 4 us?
NO LIQUIDITY ?
Huge amount of liquidity for the Casino economy, making the projections for the uber-wealthy to spike in the next 5 years; all the while there is no liquidity in the TBTF banks; aka the JPM balance sheet repeated for EZ; for the REAL ECONOMy.
Greece is a basket case, its going thru the wringer one more time, just like Spain.
The world MIC economy estimated at 30% of world GDP is clearly showing a ramp up; all the while first world military budgets are cut back. So who buys the guns?
"Your RM for our guns!"--- stays the bottom line, as ongoing DC-EM world dialogue; now hooked to asymmetric wars like the young in the ghettos are to "white powder".
In the mid of a spreading panic a steady force like a moving tank begun lifting everything. This was fascinating to watch
getting a strong urge to btfd.
Don't
Please? Just a little? All I see is deflation headlines and more reason for QEfinity. If not us, who? If not now, when? /s
Why would you think that smoke and mirrors designed to dazzle you have any bearing upon what occurs in the faux casino?
It amazes me how people see the blatant rigging, yet feel like they understand it well enough to front-run it.
If you ain't Tepper, then you're Tepperfood.
Spider stayed within a rather neatly constructed "crash channel" this AM with the bounce off 1840 and inability to break above 1870 . . . . . . . . . . . SO FAR.
I had sub-1833 by end of the month with a break of 1904-05 but this changes it. That could come fairly soon if this channel holds . . . . . . then the momo-monkey snapback.
I guess the FED maxed it credit card....hmmmm
Somebody needs to go by and pick Yan up. No way he worked hard enough Monday to take today off. Get him in there by lunch.
BTBD (Buy the bottomless drop)
This move reeks of the higher ups being told just how bad the truth is about Ebola...that's how these guys operated...prior knowledge to take advantage I order to protect their buddies and themselves...
Same as it ever was.
Ebola outbreaks and cases are much worse than we a being told...
Wait till we get 5 reported cases in a day... It's ball game ...by then 1800 on the S&P will look like the good ole days...all that paper wealth vaporized and the consumer will lock themselves in doors..
For a long time much of the economic landscape has started to look like something out of "Alice And The Looking Glass" A bizarre and unrecognizable land, a land that is distorted and papered over by ream after ream of paper. This paper has been rolling off the printing presses of central banks all across the world in an attempt to mask reality.
This is what it loks like when things start to sour. Peter Schiff says, printing money is to the economy what taking drugs is to a drug addict. In the short term it makes the economy feel good, but in the long run it is much worse off. The article below delves how what was once the "long run" or "distant future" where this might end may be getting much closer.
http://brucewilds.blogspot.com/2013/01/what-happens-after-momentum-ends_6.html