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From Nasdaq 5,000 To S&P Red For 2015 In 6 Days
As the massive global dollar shortage ripples its way through carry unwinds and into every asset class... The "truth" is out there...
Wait What? Who couldanode?
This is the worst run for the S&P in 2 months... and the S&P (and Dow) have closed below their 50DMA...
Dow down over 600...
As yesterday's dead-cat-bounce (as we noted) is crushed... (with Nasdaq lagging notably) NOT OFF THE LOWS
It appears the exuberance of Nasdaq 5,000 is now a long way behing us...
and if you're waiting for short covering... think again...
With S&P and Dow joining the Trannies in the red year-to-date...
Credit smelled it coming....
Thanks to Moar Surging by the USDollar...Swissy, EUR, Aussie all monkey-hammered...
This is the fastest rise in The USD In 34 Years...
and EM FX is baumgartner'd
Treasury yields - having shurgged off last week's major corporate issuance - are resuming their plunge... (down 4-7bps today and notably flatter)... NOTE: TSY Yields are now 3-4bps lower on the year (outperforming stocks). Bonds have retraced all of the Jobs losses.
Dollar strength dominated commodities today...
With crude clubbed back below $49... Stable?
Charts: Bloomberg
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time for cigars or cabbage water?
In honor of the 15th Anniversary of the Dot-Com bust, it's only fitting that the NASDAQ should crater.
Scorecard: If you bought the NASDAQ exactly 15 years ago today at its all-time high of 5,048, you've only lost 3.75% over the last decade-and-a-half.
CONGRATULATIONS!!!
[Let's party like it's 2000!... except for the Sock Puppets...]
I've reached S&P "crashing" Fatigue. Please stop, it's not crashing
I dont think "smelled" is a word
baumgartner'd. LOL
Whats ironic is if the US economy is starting to mirror the same conditions as the last time the USD ripped and global emerging markets then a global collapse in both US import demand & service sector (EPC & tech consulting) is in the cards. And thus, the export of hard dollars to prop up shitbox regimes. Given how badly global SWF's were invested in tech, I could see this going badly, esp if cheap liquidity from marginal dollar spending dries up; specifically for business models which were 100% based on advertising dollar origination & market upsell to ZIRP social networks.
Last time this happened, we saw the headline event when major computer trade journals folded, on sudden collapse of advert dollars. Not long after, the social networks folded on zero hard dollar inflows (and negative margins).
Google how many websites focused on social tech, infogaming and software have shuttered since November.
And yes, Dollar treasuries still have a huge arb to the Bunds. With a shortfall in US accounts expected for the 2016/17 years due to Obama legacy projects, you would be a damn fool to not think that reflexively everyone is going to be lining up for record issues starting after this current budget ceiling drama passes the curb before November's pork season.
At this stage, if you are not pushing 38% by June, you should not be in the game anymore as a pro manager, esp. if you look at how 1 sided the boat is, and how little margin is moving the tape on shallow market depth.
I dont know what you said, but I agree with you. Jking, all the EM's who have dollar exposure are royally screwed (their debt payments just skyrocketed 20%+)... That's just the beginning... FAZ FAZ FAZ!!!
the only difference is the dollar is ripping higher exponentially faster and further than it did during the 'last time this happened.'
it's the moment when you hear Wait What say "wait, what? it's not supposed to go down like this.
"not like this, not like this"
https://www.youtube.com/watch?v=ECfRp-jwbI4
"trust, who do ya?" with Bernanke as The Joker and ZH's Tyler Durden as Batman
https://www.youtube.com/watch?v=8NygpLj_OXQ
Jim Bulltard, please proceed to the nearest CNBS affiliate...
Jim Bulltard, please proceed to the nearest CNBS affiliate...
Jim Bulltard, please proceed to the nearest CNBS affiliate...
Now paging Kevin Henry . . .
take a look italy stock index 20% up
or sweden, nedarlands... (EU) indexs
what a brake on the upside
Transitory. Bullish.
It must be that silly iWatch ! Just when they accepted Apple as a member of the Dow club...
*BOJ DECLARES SELF-HELP AGAINST US FED
*ECB DECLARES SELF-HELP AGAINST US FED
/note Joke /end of note
Don't worry someone will say something and it will completely reverse.
FULL BULLTARD, AHEAD!
Debt is a burning thing
And it makes a fiery ring.
Bound by terms not met
I fell into a ring of debt.
I fell into a burning ring of debt,
I went down, down, down as the rates went higher
And it burns, burns, burns,
The ring of debt, the ring of debt.
The taste of coke is sweet
When banks like ours meet.
I fell for you like a child,
Oh, but the markets went wild.
I fell into a burning ring of debt,
I went down, down, down as the dollar went higher
And it burns, burns, burns,
The ring of debt, the ring of debt.
somebody will say something and it will be 'we are going to print'.
Wrong day to take out that 7 year car loan and buy stocks.
One comfort: as long as CNBC is getting it very wrong, you know reality is still reasonably intact.
i passed on the car loan. instead, i leveraged my life savings at a 20:1 rate and put it all on black,, er.... alibaba.
But even with all that....still a mini VIX Smash into the close.
So we invented QE, otherwise known as the digital printing press.
AND, WE'RE LOSING THE CURRENCY DEVALUATION WAR?!
I guess Krugman was right, we didn't print (QE) enough!
When your debt is 100% GDP and everyone else is >2X your good.
Yet tvix is up only 11 cents. They need to be taught a lesson
Something seems vey fucked with all ofthe *ix's today
Even the 2x's didn't move much on a big-loss day like today.
Something is afoot
global markets are all trading like a fucking otc penny stocks ...
For today’s turmoil: Fleet Foxes White Winter Hymnal
(This was fun to write, w/ the YouTube link above on repeat for hrs, but when it seemed even neighborhood joggers were singin’ my version, it was time to call it a night …)
I was fading hard the,
I was fading hard the,
I was fading hard the …
I was fading hard the longs
All fiddlin’ with their quotes
With kitchen knives to their own throats
To keep the dovish Feds
From killin' the light show
But it’s too late – bam! – there it goes
And AAPL you would fall
And turn that upslope back
like boomerangs in Aussie climes
I was countertrend the pack
All tryin’ to stay afloat
With shades of red ‘round their stock quotes
All hangin’ by a thread
With oil fallin’ low
And then got burned by the euro
And indices would fall
And turn the green bars
Red as Coughlin’s face in wintertime
I was brawlin’ HFTs
All spewing out their quotes
But made few trades when markets froze
To keep their tiny spreads
From fallin’ far below
The levels S-1 filings show
In vacuums markets stall
And make the high-flyers
Fall like Tampa rains in summertime
BTFD DOW 18000, by Friday?
This is what's called a 'growth headwind '
I still remember when "green shoots" was the Orwellian happy mot du jour.
The "truth" is the dollar is going higher. Tomorrow should be a nice bull flush. This time is different!!!
as long as FOMC considering interest rate increase(s) ... usd will power upward
morons
"Considering".Go on....I dare you!
"This is the fastest rise in The USD In 34 Years..."
King Dollar gonna be messing* with a lot of corporate revenue/profit guidance this year
*relegated to circular file
So if BTFD is over, what are fund managers going to do?
STFR
Sell The F&$king Rip!
attend a bernie madoff seminar
At Rikers. Fittycent a plate.
Catch the falling knife of course. Preach about buy and hold long term investments etc etc.
https://www.youtube.com/watch?v=2Rw5MosKRm4
The DOW is taking an early spring break to do some partying and to digest the current world situation.
Stay tuned to NBCBS for all relevent updates! Everything else is just white noise!
What is wrong with you people. What in the hell am I supposed to do with my NASDAQ 5,000 cap?
keep it for another 15 years.
BTW, anyone looking to make size, bring out a JAFO line of apparel right out of Blue Thunder.
remove one of the zeros...
BREAKING: Bloomberg news reports that corporations have currency risk exposure.
I love penny stock oil.
Take your guess on where crude will be in a week. Could be $60, could be $40. NOBODY THE FUCK KNOWS!!!
Gold is NOT a "commodity". If anything, the USD is one...
Heard in CNBC studios: "Paging Mr. Bullard... Mr Jim Bullard? Please report to makeup..."
Love the dead cat bounce graph on the main page!
I miss the deer in headlights.
PPT is crafting a counter offensive as we speak.
QE in China coming?
yes
i think the dax is the new dow.
it can never have a down day, and when it does on a rare occassion, its relativley flat and always off the lows.
It makes no sense why USD_I is so strong? Becouse yuan is peged to dollar or what? Dollar should be about to collapse, if ppl wanted safe place gold would sky rocket more than dollar. Gold is virtually not moving relatively to other currencies. USD is going up. It is not about Euro QE since Dollar is gaining toward ALL currencies: japan, china euro, russia. It is not about promise to raise rates in US, rates might go up 0.25% while USD gained 25% in last 8 months, thats insane. Every mark on earth and sky says USD is collapsing, while dollar index is laughing at all facts and is going up while it should go down. Why is that?
The short answer is, because the ZH blather about "fiat" is crap.
Everything but BABA was negative/red today.
In other words, you know it's really bad when Ali Baba is the safe haven.