Worst Start To A Year Ever, Stocks Down 5 Days In A Row

Tyler Durden's picture

How many are feeling after the worst 3-day start to a year EVER...

 

Market internals triggered a 2nd Hindenburg Omen...

 

The S&P 500 is down 5 days in a row - the first time since Sept 2013... with the biggest 5-day decline since Jim Bullard saved the world... (finding support at its 100DMA for now)

 

And broad equity indices bounced intraday off that 100DMA support (in Dow and S&P) - with JPY ramping stocks back to VWAP...

 

From the Russell 2000's peak, stocks are still down notably...

 

But today had a similar feel to yesterday with some afternoon dip-buyers vanquished... (but the S&P 500 just held 2,000)

 

As Energy stocks tumbled back towards oil's weakness...

 

as Energy credit risk topped 1000bps again and broad spreads widened...

 

As WTI traded with a $47 handle!! After Saudi "demand" comments...

 

The biggest news of the day - apart from the worst start to the year in stocks ever... and oil trading with a $47 handle!! - was the total collapse in bond yields...

 

The USD rose modestly in the day (rallying during the US afternoon unlike yesterday)...

 

but overall JPYwas still in charge of stocks...

 

Once again - despite USD gains, Gold and silver rose with the yellow metal testing $1220... (and silver surging)

 

 

Charts: Bloomberg

Bonus Chart: For The White House onlookers - NOT Europe...

 

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Pool Shark's picture

 

 

Cash, Bonds, Gold...

March 10th will mark the 15th Anniversary of the NASDAQ All Time High (5,048). If you bought then, Congratulations! you've only lost 9% over the last 15 years.

I suspect 15 years from now, I'll be typing the same thing about those who bought the S&P at last month's highs...

Remember, the first two peaks were "Bubbles," what do you think the third one will be called?:

http://www.fedprimerate.com/s-and-p-500-history-chart.gif

 

 

wallstreetaposteriori's picture

2015 will be the year for GOLD!!!  

Manthong's picture

Well, you know what they say..

"The plummet of a thousand points begins with a three day plunge".

 Actually, I just made that up but it has a nice harmonic ring to it.

 

power steering's picture

SPX is buildig  the old Hunchback pattern

SWRichmond's picture

So if those HY Energy OAS are credit spreads, then isn't the default risk on those higher than the default risk on Russia?

Who is winning?

Four chan's picture

i say 6 days in a row at least.

Hubbs's picture

But don't JV players become varsity players as they get older?

Jeff the Terrible's picture
Jeff the Terrible (not verified) Hubbs Jan 6, 2015 6:35 PM

The e-trade baby is getting high somewhere with the Nirvana Nevermind baby right now.

 

https://www.youtube.com/watch?v=VI6tBwVjyOY

Slave's picture

Clearly what we need to fix all of this is more neocons and less gridlock in CONgress.

/sarc

Escrava Isaura's picture

 

 

This is what needs to be understood. The key to fix US economy.

https://www.youtube.com/watch?v=zIkk7AfYymg“#t=0m23s

 

 

eatthebanksters's picture

First the Greenspan bubble, then the Bernanke put and now the Yellen putz...

Escrava Isaura's picture

 

 

The Infamy Post

8 December, 1941

 

The problem is NOT the Fed.

The problem is the dollar being issued by the private banking cartel, instead by the US Treasury, as credit.

The day that the American public realizes that….

That will be the “Date Americans Will Be Free.”

 

 

SWRichmond's picture

The problem is that people believe they need a "government" to keep "order" and execute "laws".  The problem is that people tolerate "law enforcement" enforcing "laws" written by "leaders" designed to enslave them, their minds, their children, and to seize their propertty, their wealth, and even their children.

Escrava Isaura's picture

 

 

eatthebanksters

But I am not counting on it

Because the propaganda to dumbdown the American people is really good.

 

Just listen to yourself.

 

TheBigComic's picture

This is a great video, i don't get why you are voted down on this.

What was expressed in the video was my understanding for quite some time.

Money facilitates market transactions (it is liquidity), it should not be a commodity in and of itself. When money is a commodity man's labor becomes a commodity of speculators and man loses his freedom. The value of his labor is not determined by himself but by the speculators.

Those who support it being a commodity I think fall into two camps, those who think they know how to spend other peoples money better than them, and those who want to take other peoples money from them.

Very "con"vincing arguements are constructed to support both sides of that same coin. And both sides of the coin lead to a loss of freedom of the individual.

Does technological progress go forward slower ... perhaps yes, but fewer are sacrificed into the volcano of central banking.

Some say "educate the people!!" ... and many with weath say "the people never learn so I will make my money off of this system and find a quite place somewhere " ... perhaps this is related to the "camel and the eye of the needle".

But just as the quality of rulers spring from the quality of people so do the quality of economic systems spring from the quality of people. But the dynamics of human history are beyond humans ... although that is what the elite is trying to control.

History moves slowly and I wonder whether or not we willl make it, ... but always the beauty and mystery of life gives me hope. The best things in life are free and many times out of reach of the rich.

Just as those in past times who buried their shit with a shovel or wiped their ass with leaves and grass ... similar times we live in relative to economies and societal organization.

At the same time we have a massive explosion of information and technology, ... and at the same time massive explosion of ignorance and suffering.

I will admit a massive ignorance in regards to human history, everytime I dig deeper I learn new things. It would be hard to understand the past without actually living it to remove from your mind what you know and experience things contextualy ... an impossibility without time travel.

I have long term hope for humanity, but little hope for many people short term. But I pray for all people.

I still live each day in wonderment and enjoyment, I am poor by the standards displayed on this site.

I liked the humility of the two men who explained the situation on that video. 

But who today will listen? Without flash, glam, and glitter ... without power ... the people won't listen. The amount of fragmentation of thought, knowledge, ability, compasion, ... it is spread in all directions good and bad. ... A search strategy perhaps?

Perhaps in the next iteration of things (future lives) we can find a way to keep the knowledge (so that it is not lost), keep the light burning (so that it is pass on), and to formulate a plan to reduce the bad aspects of humanity in a peaceful way. Many times I think that is what some in organized religion tried to do. And damn pirates end up hijacking it.

Random thoughts after only a couple of beers.

Peace to all good people.

 

Groundhog Day's picture

if we can go up for 28 days in a row why can't we go down for about 12

nmewn's picture

Be careful, they smoked some bears last time in mid-October with a false double top.

And a magnet under the table ;-)

Lux Fiat's picture

Normally I would agree.  But was just on Yahoo Finance (don't ask), and the main story positioned at the top of the news has this teaser headline - "Don't fret too much over mounting turbulence in Greece   Every now and then, political turmoil in Greece threatens global financial markets. Then the problem fades."   http://finance.yahoo.com/news/3-reasons-investors-can-stop-worrying-about-greece-170441801.html

When the MSM start trying to soothe the restive sheep, it's a pretty good bet that someone is setting up to shear them. 

nmewn's picture

Could be, I don't dick around with stawks anymore.

Just sayin the support is around the 1960-1970 range or a tad lower, they suckered "some folks" in who were watching the last break back in October and they had to cover, forcing it higher on the buy in.

Flames would have to shooting out the top floor windows to get me to even consider going back for a quick scalp...lol.

Lux Fiat's picture

I'm not rushing out to place any trades based on the article.   Even if it does turn out to be a tell, as you probably know, things can take a lot longer to develop than one might think, and directional biases often pave the road to avoidable losses.

My intent is to share something that may be of interest, not tout.  In the same way that the chart with the diverging price action between crude oil and oil stocks is of interest (to me at least).  Until specific stocks meet and trigger setup criteria, I'm not placing a trade.  But the price action draws my attention, in the same way that the possibility of spin behind the Greek stock story does.

nmewn's picture

"My intent is to share something that may be of interest, not tout."

Oh no, I understand, no harm-no foul ;-)

cnmcdee's picture

Why are you on Yahoo Finance. sorry I had to :-)

Lux Fiat's picture

Grrrrrrrrrrrrrrrrrrrr.....  (jk)

Several years ago, the Daily Bell site, before they changed their format and focus, used to have regulars posts, usually by Wile or Tabor, that dissected the "meme of the day" in a very objective fashion.  Very educational for someone like myself who was starting to open their eyes, so to speak.  I surf out occassionally to various MSM sites to attempt to get a read on the current story-telling and spinning.  And for tells - of which the article mentioned may be one.

gatorengineer's picture

I confess, I got sheared by Bullard, and got sheared by Old Yeller, trying not to get fooled again......

enforcer92677's picture

Me too.  I got burned the first week of December and my account is empty now.  Out 10k for 2014.  :-(

nmewn's picture

Aside from its "normal" schizophrenic nature, its tough when its this choppy. All I ever did was break even after a lot of aggravation, tax work and lost time, my time has value. I now consider it like overpaying taxes, someone else has the money...lol.

I sleep better knowing I lost it all in a boating accident anyways ;-)

 

homme's picture

 All I ever did was break even after a lot of aggravation

 

Same here. I always say, "I done real good. I broke even!"

northern vigor's picture

"Old Yeller"..............I'm not crying this time when Ol' Yeller gets shot.

 

Greenskeeper_Carl's picture

green finish tomorrow, led by the most shorted stocks...

 

(if history is any guide, that is. I'd also wager friday will finish green as well)

Ms. Erable's picture

Prolly a good idea to keep your junk out of the bear traps; them teeth hurt.

SAT 800's picture

Excellent post; and the answer is; RUSSIA !! bitchaez. (I couldn't help it, the devil made me do it). Wow; what a an entertaining movie; good thing I got plenty of popcorn.

SWRichmond's picture

Dear market-manipulating douchbags:

"You arrogant ass, you've killed us."

https://www.youtube.com/watch?v=IxO8_lOOra8

cifo's picture

It's not "worst" if you are making money.

Greenskeeper_Carl's picture

nope, and Im looking on the bright side, only about 4 more days like this, and my SPXS will be in the green!!(not getting my hopes up, not by a long shot, since this is the only part of the economy thats 'improved', it must be kept up at al costs)

Jurassic's picture

There are no significant supports left. Who would try to catch falling shit from such hights? :D Those who know whats coming are already hidden in covers.

Carpenter1's picture

Gee, wonder what would happen to the yen carry trade if abenomics was declared a failure and the Japanese economy crashed, destroying 100,000,000,000,000 yen in 3 minutes?

SAT 800's picture

I hate to say I told you so; but I told you so. About three hundred times; and everybody is piling on and going; no, no. see it;'s all the FED, their interet rates, and it can't go down, and no, no. Ha. that's all I can say. Ha !!

mkkby's picture

Silliest of all the silly comments.  We almost closed green today.  This is just fear from the Greek elections, which are over now.  There is no catalyst for a further panic, so we will stabilize and return to the bull trend over the next week.

Eventually there will be another ugly bear market and my powder is dry for those days.  Probably not in the next 2 quarters unless the plunge in oil prices brings on another Lehman-type panic.  Or maybe citi has derivatives that are in peril -- that bailout bill was for a reason.

SAT 800's picture

i hope you're right; I'd love to short the next top. This market is unstable, nervous, narrow, and topping. and it will crash. you don't know when, and i don't know when; but i do know it will crash.

jcaz's picture

Wow- thanks for regurgitating Tyler's Citi story and trying to make it sound like your own idle thought.....

So you're saying that.... We're going up, unless we go down?

YOU, Sir, are the next Secretary of Treasury!  "Bull trend"-  what the fuck are you smoking?

Shoo- back to the Yahoo Finance chat boards for you now.....

Hitlery_4_Dictator's picture

We bad started the year some folks!

actionjacksonbrownie's picture

It's actually been an awesome start to the year if you watch the miners. Last 2 days have been fantastic.

 

Big, big decision time for gold from today going forward. It is right at it's 3 year down-trend line, and if it breaks to the upside with conviction, you would be wise to have your favourite miner/gold bull etf cued up and ready to hit the buy button (assuming you are on the sidelines).

 

Got gold???

gatorengineer's picture

Miners are way ahead of gold.  On a bought of good news gold could open down 3 percent and Nugt or dig could open down 20 percent be careful with Beta'd miners

samcontrol's picture

my agq option is up80% the first two days of trading.
What " could " this mean?
Nothing!

Antifaschistische's picture

...I just assume now that everything is artificial.  That being said...I assume insiders at the  Inverted Plunge Protection Team, FED, Treasury/IRS were engaged in a full scale year end pump to help lock in 2014 Capital Gains.

..Now, they're just unwinding their positions.

dirtyfiles's picture

hey maybe Taylor is not so dick head any more...

Hubbs's picture

It will be interesting to see how the bankers/FED further plan to limit the rise in price of PMs. First the 400 dollar collar, obviously not to protect gold from a down draft, rather an upswing. Next they will limit the number or volume of trades, or will require deposit of money in an escrow account in addition to the usual purchase price, to ensure against an "unexpected price rise"---something totally screwy like that.

 

Kind of like when you buy a ticket for a cruise, they make a provision for a fuel surcharge after you've purchased the ticket--it only works in their favor if the price of fuel increases, but if it decreases, will you get a partial refund?   Noooooooooooooooooo!

SilverDoctors's picture

Sure is looking that way.  Stewart Thomson is stating The Fed will ask the Chinese Central Bank to REVALUE gold in 2015...

After a 3 plus year correction...about time for the entire PM sector to rock and roll. 
Personally I think the sector will decouple from the market this time and won't follow it down like in 2008-9...esp if the first week of Jan is any indicator... 

jaxville's picture

Damn .... I pissed all my money away on gold and now I can't buy shares at these lower prices.