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Financial Fears Send Dow Down Over 500 Points From New Year's Highs
The Dow Industrials Index is down over 600 points from its 18,051 (futures) intraday record high on Boxing Day (12/26/14). Today's 275 point drop below 17,450 is now over 500 points lower than the New Year's Eve highs as energy (oil plunge gravity) and financial (oil exposure, low rates, counterparty risk) names catch back to gravity.
Broadly ugly...
As Energy and Financials roll over...
Seems like US financials credit spreads started to diverge as oil collapsed... and counterparty risk concerns bleed in...
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Get to work Mr. Bullard!
you forgot to add Mr. Yellen to the mix
Da big boyz thinks the interest rate increase is for realz.
They should know.
Meanwhile in Iceland... ;-)
Iceland’s PM Gunnlaugsson plans to formally withdraw the country's EU application early in the new year, he told Icelandic radio station Bylgjan on Sunday. First steps of removing capitals controls, in place since the financial crisis hit Iceland in 2008, would likely be taken as well.
Looney
http://euobserver.com/tickers/127089
That's it! War with Iceland!
Probably not. They're all white folks.
I noticed Friday that the markets are getting REALLY frothy and I wonder what everybody is telling their algo's to do. A few computers counter-programmed against each other could lead to really weird market action.
There is one inch of beer in the glass...the rest is froth. If the mug is full you pay full price.
Seems to be more like they just halted buying, but they have yet to sell anything. http://research.stlouisfed.org/fred2/graph/?g=W9H
U.G.L.Y. you ain't got no alibi, you ugly!
pods
What's that, like 3%? Chump change, merely a rounding error.
... merely a rounding error
or a "seasonal adjustment"? ;-)
Looney
I would laugh (like buuwaaaaahaaahahaaaahaaa laughing) but I know this shit's just gonna go back up
You can hear the phones ringing at Saudi Aramco..."Hello, this is Janet Yellen calling...I know, I know but oil prices are considered a key confidence metric so you need to cut production and support $50...."
BULLISH!!!
speed up the presses! Print MOAR!
I feel as if this is done on purpose by the algos in order to make the market not looked as rigged as it actually is.
It's like rigging a deck at the poker table; you don't want to rig EVERY hand. You want your "marks" to win a few hands before you setup the big cooler. That's how Mike McD and Worm got caught in "Rounders" at the cop's poker game; they were in such big debt they got too greedy and eventually got caught.
I'm still confident this thing gets to 22k by August before the shit really hits the fan and the CBs can't manipulate the market because in the end: even the best cheaters always get caught.
It ain't cheating if you make the rules and/or change the rules in your favor.
/s
Some say a comet will fall from the sky.
Followed by meteor showers and tidal waves.
Followed by fault lines that cannot sit still.
Followed by millions of dumbfounded dip shits.
Some say the end is near.
Some say we'll see Armageddon soon.
I certainly hope we will cause
I sure could use a vacation from this
Stupid shit, silly shit, stupid shit...
One great big festering neon distraction,
I've a suggestion to keep you all occupied.
Learn to swim. [3x]
Mom's gonna fix it all soon.
Mom's comin' round to put it back the way it ought to be.
Learn to swim.
Fingers crossed that it's the earthquake first. It will be hard to cash options when the NYSE has fishes swimming through it.
Bill of Rights
Had to log in just to thumbs you up. "followed by millions of dumbfounded dip shits" one of the best line ever written.
https://www.youtube.com/watch?v=uCEeAn6_QJo
Had to provide a link
Know your enemy
AD
STFFF !!! (sellthe fucking financial fear)
I smell a distinct lack of BTFD. Fed better get in there.
http://dollarcollapse.com/wp-content/uploads/2015/01/Monetary-base-2015.jpg
Yellen is in the can dropping a coiler. Patience.
A 3 ring steamer, eh? Could be awhile. I suggest more fibre.
Didn't know it was possible for a piece of shite to take a dump...
Selling US equities to BTFD over in Europe in anticipation of QE over there. Bernanke and Yellen are maniacal central bankers whereas Draghi is a drunken maniacal central banker. You'll be able to buy low and sell higher in Europe and then come back to US and buy this dip that was created by the E-QE opportunity. Good times.
Yes, and this fuckers want to start ww3 to save their asses - good choice between 25 years depression and ww3
Buy now.
I thought everybody agreed that all that unrepayable debt in the shale sector was just like all the other unpayable debt - eg nothing to worry about. This is bullshit Janet! Get to fucking work Mr Chairman!
Hell, we are just getting started....
And CNBC is still running the ads about how oil can energize your portfolio on XMRadio.
Cracking me up....
Not to fear... Auntie Yellen will come to the rescue.
Just BTFD,,, is all you need to know.
"Investing" has never been so easy!
Let's make a drinking game. Take a drink every 100 points it drops.
Can't even get tipsy doing that.
Take a drink every 100 points it rallies (which will happen as soon as the next Fed guy does Verbal Easing in front of a camera).
Buy.....The.....Fucking....*gasp*.....Dip.....*wheeze*.....
The playbook:
Draghi: "We'll do everything we can to support the faltering economic numbers in Europe.QE is very much still on the table for this year"
Instant 3% to the upside.
Bullard : "Falling oil prices and the threat of deflation strongly support delaying the normalization of interest rates, along with dropping equities supporting a reversal of ending outright purchases."
Instant 5% upside
Yellen: "Yes we may delay interest rates or tighten if conditions warrant. Perhaps continue bond purchases or not. Maybe my cunt smells like mackerel sitting in the California sun for three weeks, maybe it smells more like tuna. But monetizing the debt is simply something we do not engage in, unless conditions warrant monetizing the debt."
All time highs plus 10%
The DOW as predicted...
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...
Almost time for our regulary scheduled afternoon XAU/XAG monkeyhammering....
Looks like they may be waiting for the overnight to wake up the monkeys and give them their hammers. Don't want the little guys to be able to cash out. They have defended the $1200 upper range most of December, so it would be surprising to see them let it go any higher without even a whimper!
Time for Obama to announce that he is BUYING oil for the Strategic Pertroleum Reserve! He always threatens to sell when oil is $100 a barrel -- so why not BUY LOW!
Well it's a start, but despite today's sensational headline, the DOW is still 500 points higher than only December 17
So essentially, just a correction of the bullshit two week, 1000 point advance
I WANT TO SEE A LOWER LOW.................
This is just Janet Claus back on the job, putting the Dow back down where it was *supposed* to close 2014.
But the bonds are a bad piece of business.
And the copper chart confirms the oil chart - more down before up.
I don't think Janet's models expected the dollar anywhere near this strong.