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Volatility Storms Back With A Vengeance In 950 Point Intraday Dow Swing
This feels very appropriate today...
It started with an overnight meltup run that tried to get stocks green for 2015 - perhaps on the back of 'stability' in crude and better than expected trade data in China as well as ECB QE. But that early exuberance disappeared almost instantly...
Homebuilders (well KB Home) are being pegged as the catalyst for breaking the market today as it shattered the early short-squeeze dreams that housing is coming back miraculously... (but we suspect Buba comments and Dow hitting YTD green briefly were just as responsible)
Dow Futures saw an 950-point-plus intraday swing...
On the week, Trannies - it appears - now no longer like low oil prices...
Year-to-date... We suspect this is more likely the catalyst for today's drop - The Dow and Nasdaq ramped back into the green for the year and met selling pressure...
Homebuilders were the day's laggards...
Energy stocks are at a crucial support level with plenty of room to catch down to oil...
Early exuberance in stocks was ignited by USDJPY (which - just as it did yesterday - roundtripped rather painfully - fun-durr-mentals...
As Stocks caught down to bonds (who could have guessed!!?))
and Credit...
The selloff post-weak 10Y Auction is dwarfed by the day's swings...
JPY strength was the most notable move today as The USDollar rallied into the US Open then flatlined...
Commodities were mixed with Copper really ugly, silver up and gold flat - oil dipped and ripped...
Year-to-date... Copper is catching down tro crude's crash...
With Crude lifting into tomorrow's OPEX...
Wondering how they get crude to rise into OPEX? Simple... "spoofing"
More easy to spot spoofing in Crude Oil futures over past hour: $CL_F pic.twitter.com/X5qYQsFFRP
— Eric Scott Hunsader (@nanexllc) January 13, 2015
KB Home dropped the ball and admitted things weren't entirely awesome...
Camera-On-A-Stick was smashed lower on AAPL patents for "a camera-like-thing-on-a-stick-like-thing"
Overnight we remain congiscent of Europe's OMT decision (around 4amET)...
Charts: Bloomberg
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'Never sell a quiet market after a rise".
Depends are flying off the shelves. Thank you very much.
AA lies, flies, then dies ..., down 2.29%
It's about time for the carnival barkers over at CNBS to start getting into their act...
For once the short-squeeze didn't work. Maybe we've finally arrived at a real correction
Janet's a closet VIX'n.
Shorts on.
meh, just hop on the US Dollar eXpress, (/DX for short) next stop the moooon!
remember when the dow was less than the total of today's swing?
So we are old?
It sucks.
Yeah. I remember too.
Volatility is a very good thing for the big banks, bad for retail-suckers who get royally fleeced on days like this.
Apparently Giovanni doesnt trade. I had my best day in weeks, which bested a great last Friday. #VPIN bitches...mathematics is good!
I don't trade. Congatulations to your easy money. Easy come, easy go.
A 950 point 'swing' by adding up moves between completely arbitrary times?
This is the sort of data-manipulation that ZH (quite rightly) seeks to expose!
Why not make the time intervals even shorter and say it has swung several thousand points intra-day? (as it will have).
Or why not make it much longer and say it 'swung' by 27 points over the course of the session. (as it did).
As I say, arbitrary.
Oh, and don't take me for some sort of establishment oriented bull. I'm not.
I'm just being objective...
Couldnt agree more. Tell it as it is with the headline at 750 and quit the bullshit.
As a doctor, wouldn't you want to know that your patient's pulse went from 110 to 200 and then down to 50 before coming back to 100? Or is that 10-pt daily difference enough data? Glad you're not my doc...
Exactly right @Catflappo. Why not add every up and down tick moves, then the total points 'moved' would be 100,000+ points. Amazing how stupid the ZeroProfit crowd is on this forum.
Here's what I don't get about oil.
It's all well and good to talk about who's being helped and who's hurting from the crashing price. Some people say it's the Americans sabotaging Russia - and some are saying it's the opposite! But wouldn't it just take one big, deniable bomb going off at an oil terminal in an already unstable region to "normalize" the price if you were in the international murder competition?
>>bomb going off at an oil terminal
SSSShhhh! Not until GS has loaded up their positions!!
refinery explosion in 3 2 1
It amazes me that Putin hasn't set up ISIS to take the fall for a Russian false flag attack on the Saudi terminals.
That would put a fast floor under oil prices and raise some eyebrows and the blood pressures of the assholes who created ISIS.
Speaking of assholes... does anyone know why Obama hasn't instructed the Saudis to close the spiggot slightly to help out his friends in the Bakken?
Leaves me wondering too, sometimes. Maybe it's that as bad as Putin genuinely is at all kinds of domestic policies - the Russian prison system is like almost 65% as bas as the US prison system - he's just not as godawful rotten as the US players? Or is that being far, far too naïve?
maybe he doesnt know what a false flag is. lol
maybe Putin doesn't know false flags, but there are a couple of refiners in the US that sure do. 2 refinery fires this past weekend didn't even register... retail gas just wants to keep sliding.
http://www.cbsnews.com/news/explosion-fire-shake-ohio-oil-refinery/
http://www.reuters.com/article/2015/01/11/refinery-operations-philadelph...
oil is a 35 dollar pb proposition all day long the rest is manipulation.
When it comes to his friends I think you and I will be doing all the heavy lifting.
Obama has no Bakken buddies. Almost all those evil greedy oilmen types trying to make a living producing something demanded by consumers don’t think much of the guy.
Perhaps recent developments in the use of thorium as a safe source of nuclear energy, and committments to further development by the Indian, American, Russian and Chinese (and other) governments have got the oil barons nervous. Imagine a car that could run for 100 years on 8 grams of fuel.
...yes, just imagine. Wake us when it's here and when we actually know how to price it.
Like many of us who appreciate innovation (and the massive capital and resource costs associated with R&D), I think you are missing the larger problem with what the fuck has been happening. Price discovery is paramont to innovation (because normally bad ideas and old technology, like bad management are actually allowed to fucking fail thus clearing the bad debt and bad apples and allowing innovation to actually be competitive).
Take a newspaper and as the paper boy throws it by your ear? what do you hear.
Sometimes the news can pass you by.
Even knows all can miss a bit.
Take that same application and put it in to localized power generation an GE we have a problem here.
It will happen and you will know about it. The only remaining question is When? will you know about it.
it's not supply or demand, it's future contracts
I wonder if comments like those are the type to get you your own NSA tag?
We need Tim Cook to run around with the new apple iStickCam in his mouth just like GoPro boy.
Seems to me that AAPL is doing the Samsung "throw everything against the wall and see what sticks" move
Fucking patent trolls.
>>Fucking patent trolls.
You laugh, but there is some good money in that work.
Step 1: File Patent
Step 2: ????
Step 3: $$ Profit $$
In other words, not much in the way of original or unintuitive ideas, just taking a Henry Rifle and improving it and slapping a Winchester label on it. But you can bet your ass they'll take anybody to court that even vaguely violates a patent that probably shouldn't be a patent to begin with. This isn't about innovation, it is about locking other players out of the market.
You said it. The USPO is basically a godsend to companies wishing to use financial power to establish monopolies. I've little doubt 75% of patents would be dismissed if they were really put to the "flash of genius / non obvious / not derivative" test.
But hey, then I'd be suggesting the legal system isn't heavily tilted towards the rich.
Apple can't assert it's patent against prior art. GoPro dipped because Apple is getting into the "____ on a stick" market. GoPro will likely be looking to sue Apple. But, patent rights are the weakest they've been in our country's history. So, good luck with that.
+1000
had this discussion with a brother in law over the holidays. there isn't much money in production, it's all in patents, royalties, litigation for infringement.
patent acquisition is a growth industry... it's not enough to own all the natural resources in the world, now financiers are trying to own every idea, too.
Hmm. Something on a stick, like the snacks they sell from food carts, but also with the ability to take pictures, like a camera.
Do they plan to call it a "Porn Dog"?
Feels like someone shoved a castus up my ass.
I'd be lisping too in that event...good post! Banner!
"Hey, would schumbuddy pleash pull thiss schwagaro out my assth"!
I giggle each time I read that. Wish I could give you another up vote.
Look before you sit down next time?
BULLISH!!!
Fuck him! Now, you listen to me! I want trading reopened right now. Get those brokers back in here! Turn those machines back on! Turn those machines back on!
So...same thing tomorrow fellas? Ok break! Off to Flingers...you're buyin the jalapeno poppers and appletinis Kevin you fucktard!
so Gold and Silver exploded in asian trading last night, and of course were met with agressive selling right before the open in london, and at the open in NY, then fought off the phony paper raids the rest of the day to trade close to their highs, only to be attacked in the last hour of trading on the Crimex and in the Globex were no carbon based beings r ever trading to finish at the lows of the day???????
http://www.kitco.com/charts/livesilver.html
yeah - right...fucking bullshit.
DEATH TO THE MONEYCHANGERS...
Can't be said enough...
A pretty big tell, still amazed how long it has gone on.
all folly... gifting me and u the precious time to accumulate even more Precious at completely fraudulent paper valuations...
a blessing from sociopaths...
stack on brother.
I feel so good, I may even buy some miners....
In addition to physical PMs, all those flat screens still need other rare earths!!!
Don't forget silver is still an industrial metal.
At least the money changers had to use actual money.
maybe congress could pass a law...."and Treasury will be required to send actual cash in denominations no greater than a twenty for all payments for any expidenture whatsoever."
Mayer Amshel taught us well. We always know ahead of time. Hope you bought some homebuilders before the close. The Rabbi always knows.
Yea, kiksters always know beforehand because they're the original fraudsters.
It's pretty bad when even the Magna Carta had to include protections for the englishmen against them.
http://www.thejc.com/comment-and-debate/essays/122219/magna-cartas-three...
oh yea, you mean how the english king used the jews as a disposable revenue stream until he was ready to dispossess them to steal everything they had after kicking them out of england.
right right.
don't worry, us jews have delt with you anti-semites for a long long time. we know your strategy is to whip up the crowds against us , and any other minorities for your own benefit.
you are a miniority seeking to corrupt the majority. and we know how to deal with you.
we're pretty smart.
after all, according to you we control everything. so therefor we use our power to stop you from fucking us over by brainwashing everyone.
THE JEWS DID IT, IT'S ALL THE JEWS FAULT.
amazing how fucking anti-semitic the comment boards have become at zh. scary actually.
Oy Vey! Why have my other two comments in this thread been deleted, Danny I? We're of the same tribe. Is talk about money laundering within the US real estate a no-no here?
Oy Vey! Why have my other two comments in this thread been deleted, Danny I? We're of the same tribe. Is talk about money laundering within the US real estate a no-no here?
Sadly, and likely by design, those driving home will hear on the radio "Dow and S&P mildly negative on the day, with the small caps and NASDAQ slightly in the green" and think "Ah, a boring, uneventful day, traders were probably up too late watching OH State ..."
CNBC says "you're hired"!
looks alot like my sinus wave....
At what bottom price does war unleash?
Aren't we already at war?
No, not war. Inherently resolved kinetically actioned policing. We're not at war until Dick Cheney says we're at war...
NO surprises today if you read these analyses...
DOW
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...
S&P 500
http://www.globaldeflationnews.com/sp-500-indexelliott-wave-update-for-w...
Tomorrow is setting up to be a bigger down day than today as it will be a "third-of-a-third" wave, generally the strongest and most intense.
BTW, in other non-EWT parlance, today was an outside reversal. Even Art Cashin saw the implications on Closing Bell.
http://video.cnbc.com/gallery/?video=3000346297
As we move deeper into the vortex, we are not talking about hope and faith, we are talking about reality... and the reality is that the stock market is collapsing into a deflationary spiral, one which will carry the majority of participants into a certain death if they don't see it coming.
MSM " retail sales likely fell in dec. here's likely why it's no big deal" marketwatch... Unreal, up is down and down is up.FTM.
Modern societies don't need copper and oil, they are barbarous relics.
is volatilitizationarionism a word i can play in scrabble?
just your normal "free market" at work...
...after the central bank mandates "stabiliteeeeeeeee......."
t-bondz bitchez wop wop wah...
Begin countdown to Major false Flag Event.
This is where the sheep start to edge towards the exits.
Baaaaaaaa! Baaaaaaaaaa!
May the shearing begin in ernest!
If ya don't hold it in yer' hand, you don't own it.
GOLD, BITCHEZ!
Pray for a takedown in the Gold market so we can back up the truck
You've had two years to back up the truck...whacha waiting for?
Some big guys are buying phyz right now, trying not to move the gold prices as they do.
Thats from the horses mouth, a hedge fund manager, buying for his own account.
He just had a safe put in that could house two familys with separate olympic swimming pools.
I couldn't work out why he wanted a basement in Florida.
He just had a safe put in that could house two familys with separate olympic swimming pools.
nice
but could he sink a boat in those pools...
by the time you get your truck backed up
the gold will have been carried away
in the pockets of peasants ...
if any children are reading
it's "cognizant"
Nothing is real. Everything is disconnected from what it is supposed to represent.
I am appropriating Baudrillard (four orders of the sign) for this, The Four orders of Financial Reality is what I will call it:
1. In the begining, accounting numbers reflected what was really true and statistics reflected a business or the economy, with a plus or minus confidence interval. The reports reflected what was true.
2. Some folks started stealing and needed to disguise it. The accounting numbers were sometimes true and sometimes not. Counterfiet became possible. You cannot read the numbers and be sure you know what is true anymore. The numbers can still hint at the reality of the theft when an auditor comes in and they "don't all add up." People question reality, and want to get at the truth.
3. Most folks in finance and business were stealing and lying otherwise they could not compete, it became "normal." Governments could not finance themselves if they told the truth. The accounting is totally unhooked from the real economy. The numbers do not reflect a truth nor point at a truth. The numbers have no realtion to reality. The truth is long ago lost.
4. All accounting is now pure simulation. The simulacrum has no relationship to any financial reality or the economy whatsoever. Here, the books in the system merely reflect other books and accounting and any claim to reality is only of the order of other such claims. This is a regime of total equivalency, where accounting and statistics need no longer even pretend to be real in a naïve sense, because the experiences of consumers' lives are so predominantly artificial that even claims to reality are expected to be phrased in artificial, "hyperreal" terms. We all expect them to lie because we all know it is simulation. Any naïve pretension to financial reality and a real economy as such is perceived as bereft of critical self-awareness, and thus as oversentimental. This is the Feds position. They are not counterfeiting when they print. They are the simulacra that is hiding the truth that there is no truth.
So folks, get over it.
get over it? Shit, be optimistic and embrace it, price discovery always has a way of coming back, in many ways, it never leaves.
interesting times, means great opportunity and risk.
wouldn't want it any other way.
Yes, it all starts with accounting fraud. Ask Ocwen, Nationstar, BofA, WF, etc.
Have bag of shit and call it high production fertilizer, right? Sure, buy it and sell it on to the next bank. But....someone holds a bag of shit at the end of the day. Always.
I love me some Volatility!!!! Please continue giving us great opportunities to make money with all this volatility!!!! UVXY was awesome today!!! What a ride!!!
I am going to have an Hindenburg omlet for breakfast in the morning, and short some shit.
Experiments have been a staple among human society. Such behavior is derived from insanity. The moment an experiment results in advancements, a new experiment is formed. It is this lack of human complacency that has led to a world exacerbated by human ignorance leading to radical metal illnesses.
wobbles in the spinning plate, wait as more credit cards and other small biz payments come due in the next few weeks.
Think as the stock market crashes people are going to rush to buy US .gov debt again?
Chaos out of manipulation...
the real money is in the volatility.
The marrow is being sucked from the bone.... consumer spending about to plummet, a parade of stores to clothes, more and more illegals, with more and more state and federal benefits, as jobs are offshored and outsourced and Obamacare robs from the working class and gives to the old and the poor....
Cute.
Is it wrong that I was hoping to see stock brokers perched on window sills?
Not if its wrong to fantasize they're flying in the air from their 30th story condo (heavily financed)!
i never see the flying part, only the hitting of the pavement like a wet sack of concrete.
Opportunity? Lawd, I hope you have some kind of financial condom or know when to pull out?
Get used to it. Thanks......no thanks.
I am going to be honest here most of this lost me. Glad I am on the side lines for now. Been out and in cash for the most part since November. Many of you are pros I am just a fish in the pond and do not like all these ups and downs. You can almost time it now but I am not savy enought to bid on this stuff. I do hold bank of america still but bought it when I realized the fed was not going to let the big boys fail so bought 10k sheres at 5.47. That was a good buy but I am scared to death to wade into this ocean right now. Oh I did buy some more gold sometime back and still good with that.
#iCameraOnAStick
Do you think all of those bankers's suicides are related to the Market? or reading your depressing blog...every 50 posts Durden you should post a positive story. Even if ist the cost of BJ"s in North Dakota are down 75% this winter,
Why don't you write or post the positive story here, yourself? If it is good enough, they might run it. I have seen it happen.
is the north dakota story with or without swallows. and if the swallows fly back to cupistrano, where do the spitters go?
More pearls?
Nothing wrong with honesty. Welcome. I have a friend who was a high roller and bugged out many years ago because he couldn't stomach the dishonesty and fraud of the system. He now paints houses by himself for a living and is happy with his choice.
IF I had money I wouldn't invest in this casino, no way. Anyone who was alive and conscious in 2008 might just feel the same.....
It's like voting Rino, fool me once, shame on you, fool me 5 times shame on ME. F...k Bushie......F...k Mittens. Get ready for Hitlery to manage the rubble.
The nearer one gets to the eye of the whirlpool/cyclone/tornado the more volatile things are.
CNAB up 41% today. How bout that industry?
Bitcoin Last Price $222
Come and git your vaporware.
Toast!
2+2=five, 5, jive alive! I love big brother.
Just for fun, jimmied up a resume as an ace high accountant and applied on line to a nameless accounting firm. Got a reply in 10 minutes! Loved my resume. They should as I copied information from linked in. I asked for an advance.
What will I do when they send the money?
So let's see if Janet and the Fed Heads are back on the job now. ZH demanded more volatility, we got volatility - mostly intraday. JatFH still want a quiet market, so the net trend should still be basically flat for the year, whatever happens. Watch and see.
Whale oil beef hooked!
Got gold?
long silver
and walrus flippers
bears gotta eat...
I'm buying puts on LEN tomorrow morning. KBH was destroyed 16% today after their warning/eps yet LEN was only down 1.5% and they report on thursday. Opportunity of a lifetime? I'm buying it. And yes, front month puts, probably the 45's which are around 60c
What ever happened to "green shoots" and "they earn it"?
Remember when people checked the stocks in the news paper.... sigh
General Electric was up an eigth today.......lol
So looks like shit-stirrers saved this garbage so when the multitude of dumbasses get home no one will know when they watch the prozac-induced news that their precious 401k took a nosedive and the eggshells were further fortified with more FED ejaculatory.
The Heart's final beats..
Tuesday used to be the best day of the week!
Too many clashing algo's now...
Is it just me, or is tomorrow morning's European Court of Justice (ECJ) non-binding ruling on the ECB's OMT program not a big deal? That alone could explain most of today's moves, if one ascribes to the pump-and-dump greater fool theory of markets.
The German Courts already expressed their displeasure with the OMT and referred it to the ECJ. Nobody wants to believe that the ECB can't just effectively engage in QE. Even if the court rules against - the final decision isn't until May - there's surely an appeals process of which Draghi would take advantage.
The whole idea of QE in the Eurozone is a lot like incest, just like it is here, in the UK, and Japan.
While today was technically a triple outside day (http://stockcharts.com/freecharts/gallery.html?$INDU) to the downside, the controllers pay no heed to charts. They, like all immutable laws and long-standing measures, have been completely and utterly flounced by TPTB.
Dow will likely be up 200-300 points tomorrow. Hoping for a crash is optimistic, but still a long shot. The propaganda machine will not be silenced.
Good article on possible QE outcomes in Europe:
http://www.internationalpolicydigest.org/2015/01/13/eu-court-greek-elect...
the market manipulators tell the banks
how to play the markets with 0 % borrowed money
to maximize profits, which they use buy treasuries with ..
one debt to rule them
one debt to bind them
950 950 950 can i get a 10! 1050 1050 ........... 1550! sold! to the poor bastard living in a refrigerator box infront of the eccles building.
what! that's timmy geitner?
timmy geitner my friends! the proud new owner of a brand new market rigged for volitility! enjoy jimmy. i know we all have been there. enjoy that cardboard frig box. who knows, maybe when your done paying off the morgage property values will be up.
$ INDEX 100! OR BUST!
YEN 140 !
EURO PARITY !
YUAN 6.85 !
GO GO GADGET FRANC !