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Dead-Cat-Bounce Dies: WTI Back Below $57, US Stocks Give Up Gains, Europe Red Year-To-Date
UPDATE: Standard USDJPY -driven momo bounce off various support levels for S&P...
Well that escalated quickly... again. While credit markets were not buying the dead-cat-bounce in stocks and oil this morning (Energy HY >1000bps, HYCDX >400bps), financial media was cock-a-hoop... "the bottom is in." Well we have a new bottom. WTI Crude futures have tumbled back to the scene of the manipulative algo crime last night back below $57. European stocks are under pressure and are now once again negative year-to-date and US stocks have given up all the overnight and US opening exuberance gains - now red from Friday.
Oil back below $57...
Stocks given up overnight gains...
Europe back in the red YTD...
and credit is really rolling over - HY >400bps!!
Charts: Bloomberg
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BLOODBATHHH
There is so much empty air propping up all "asset" valuations (especially vaporware equity and HY bond asset classes), it's like a house built on a foundation of whipped cream (or cards)...
Worse than 1999, worse than 2007...we now not only have overly-indebted slaves by the record full, and massively over-inflated equity/bond/RE valuations, but the middle class has already been decimated.
Prepare for a life in a world beyond fucked.
Russian Ruble now down to 62.45
Thats a drop of 7.28% just this morning.
Margin calls comin'...
PS: HOLY MERDE!!!
In the 3 minutes it took me to post, the Ruble dropped to 63.32; down 8.78% today!!!
Scary chart:
http://www.kitco.com/gold_currency/index.html?currency=rub&timePeriod=d&flag=exchangeRate&otherChart=no
Sustainable?
http://www.kitco.com/gold_currency/index.html?currency=rub&timePeriod=5y&flag=exchangeRate&otherChart=no
I love it when "they" throw an overnight levitation party and nobody shows up.
/My time. It is coming.
Funny how a nation with a free floating currency, with less dependant on oil and gas compared to so many other countries, is falling the fastest. Oh well, there are options to save the ruble (tie it to something, force trade of their resources in their respective currency, etc) but it looks like they dont want any of that. Only thing I can speculate on that is they will use their forex (usd and Euro) to purchase domestic assets and build more with less, and then up the value by tieing it to something later on. Oh well. The average person will have to live with it I suppose as no one is willing to budge.
the bloodbath has been discontinued. the algos will not dies without a good fight. we don't need no stinkin fundamental!!!
Did ZH just call the bottom again?
Nope.
It just got "BloodBathier:"
http://www.google.com/finance?tab=we
Did ZH just call the bottom again?
The bounce is as normal as humble pie. The big dawgs can't make it too easy for the weak handed traders.
Some bottom pickers came in, and have gotten their asses handed to them. What the hell try to catch those falling knives.
A famous trader calls this "always in short".
Buyers are gathering at 16900:
http://www.investing.com/indices/us-30-futures-advanced-chart
You added a one....should be 6900.
I'll bet there are some buyer lined-up at S&P 666...
Of course they are......
Until they aren't.
Well that escalated quickly.....
Now I'll only get the crappy non Kung fu grip GI. Joe for Xmas :c
It's probably gone up more in value as a collectable than most financial products ever have.
So, this is what a crash looks like in 2014... Oh, the humanity...
What's the current World Record on traders trying to take the emergency exit at the same time?
Didn't this type of thing take place during the collapse of late 2008/early 2009? Gap up relentlessly pre-market and/or over the weekend, then decline rapidly upon market open and continuing to plunge?
LoL !
<US stocks have given up all the overnight and US opening exuberance gains - now red from Friday>
Blame that darn Putin and the 'Red Menace' for the market being down!
Hell no, still bush's fault. But, cunt cheney tortured him into doing it, and would do it again, if he could.
During cheney's heart transplant, they opened his chest up and only found a dried up old turd. So the doc pulled down his pants and took a huge shit into his chest and sewed him back up. Good as new.
But Joe Kernen told me to BTFD, and he's a professional.
so listen to him, hes only looking out for u and everyone elses best interests, lol.
CNBC is rolling out all the shills. Their palpable panic is exceeded only by their utter misunderstanding of what is going on. As far as I can tell, the meme is:
This is good for the economy and stawks (weak, unconfident voice)
...isn't it? (looks around for validation and head nodding).
The latest, vomit-inducing monologue...http://www.cnbc.com/id/102268627
John Corzine was probably the mystery oil buyer of oil last night. Tax payers prepare for the bail-out mechanism.
Hm, dead cat dies? Interesting.
Yes, it's even deader now.
Yep. And one day the cat will be deadest. The deadest? The most dead?
deadliest FTMFW
the horror
Time to start filling the mayonnaise jars with cheap oil...
once again the Tylers spoke too soon...the Fraud Markets just went green again...
just sayin.
works every time. if you see the deer buy buy buy
how many times do i have to tell ya'll about the last hour of trading in fraud central = London...
this time of year it's so easy a caveman could do it
Yep....get us all fired up for the crash....and then let us down. There is no limit to the upside potential from the Fed and Central Banks. We'll be looking at all time highs when the corks start popping on New Year's Eve.
Why does the US 'buy' oil for the Strategic Petroleum Reserve when oil is $120, but not buy oil when it is $57 a barrel? And why does China buy all the $60 oil it can get? Oh, never mind...
Nice gap fill.
Fascinating. After feigning a move back toward the 20 EMAs, SPY and IWM rolled over toward the 50 MA, a very long-time-no-see for IWM (since early Nov).
As I type this some signs the dippity-do-dah types are piling back in, with nearly half the morning losses erased in just a few minutes. Get yourself some popcorn, and see if the dippers can ream the new shorts, or if a potential planned "distribution" day leads us to end on new lows. At these key levels, fake-outs, handbag fights and "why I oughta" face slaps will be evident, sorta Three Stooges hexadecimal style (BOA, JPM and Goldman?)
When we have a day that equity indices are -5% or more at the close we will know the wheels are really (finally) starting to come off.
fa'sho....!
Market would "break" or otherwise take several "time outs" to stop that kind of carnage.
One of the things I remain curious about is what the TBTFs will liquidate to cover margins if/when the complex crashes. They may not want the market to shut down if they have a bunch of equities they want to throw overboard. Doesn't seem that anyone is liquidating PMs to cover the energy exposures that are rapidly becoming reality.
Is it a surprise that they gave it all back? The SPX was -30 Friday and then they try a 15 gap higher-what changed?
The December 8th was said to be an important turn date by Woody Dorsey from Sentiment Timing.
He has predicted the September top-October low and now the December top--all weeks before the happened.
Considering his ability of predicting market turns long before they occur, I certainly wouldn't bet against him.
http://www.sentimenttiming.com/success-stories/
The buyers group at 17,000 are starting to look nervous:
http://www.investing.com/indices/us-30-futures-advanced-chart
Just fucking crash !!!!!!!!!!!!!!! I want off this roller coaster !!!! I have said it before ....these fucking assholes should have just let this shit completely burn down 6 years ago.....Iam tired of living life with knots in my stomach...trying to save my house , trying to save my credit with no job....FUUUUCK !!!
If I didn't have a 9 year old girl Iswear Icould just say Fuck it and go nailgun...That's sad to say but it's how I feel.....
This sell-off is nothing more than the market being manipulated down to make the FED use very dovish language at this week's meeting and promise not to raise rates on any fixed schedule. Then when these assholes get what they want, you will see a market rally. Guaran-fucking-teed.
Santa just sold the Jan 200 SPY puts. There's your floor wankers.
OPEC-Secretary says: Oil could be at 40 US$ - no problem for OPEC. There are set no limits by OPEC.