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"Not Off The Lows" - Stocks Slammed, Bonds Bid, & Copper Clubbed

Tyler Durden's picture




 

Author's impression of today's copper, stock, and oil markets...

 

Trannies continue to tumble and even Small Cap exuberance faded...

 

From Friday's exuberant close, stocks are weak...

 

Post-FOMC, Trannies remain notably red...

 

Financials are the biggest laggard post-FOMC still as Homebuilders soar...

 

AAPL skidded back below FOMC levels...

 

Bonds continue to rally post FOMC... long-end yields are back at 7 week lows... First 10Y yield close under 2% since Feb

 

The Dollar rose very modestly today (after early weakness) but remains lower on the week... Swissy continues to rally this week...

 

Stocks caught down to credit's less exuberant bounce...

 

Commodities continue to notably outperform stocks post-FOMC...

 

As Commodities rose again today (outperforming USD weakness relatively speaking)...

 

Copper gave back all its spikegasm from yesterday as China opened...

 

Crude once again spiked early and gave it all back as traders await this evening's API inventory data...

 

Charts: Bloomberg

 

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Tue, 03/24/2015 - 16:09 | 5922736 the not so migh...
the not so mighty maximiza's picture

Yessssssssssssssssssssssssssssssss

Tue, 03/24/2015 - 16:24 | 5922800 dimwitted economist
dimwitted economist's picture

Buy the Dip you SUCKERS!!!!! HAHAHAHA!!!!

Tue, 03/24/2015 - 16:32 | 5922832 MillionDollarBonus_
MillionDollarBonus_'s picture

The record gap between rich and poor that we see today comes as no surprise to liberals who have been warning about the dangers of unfettered capitalism for decades. Karl Marx predicted what we are seeing today over a hundred years ago – you’d think people would listen to us. But all we hear is the same ‘free market’ dogma that got us into this mess. 

Tue, 03/24/2015 - 16:45 | 5922882 SilverCoinLover
SilverCoinLover's picture

No, MDB, the record gap between rich and poor isn't being caused by free markets but by MANIPULATED markets.

Karl Marx, writing in the mid to late 1800's, could never have imagined the power of the Central Banks of today.

Tue, 03/24/2015 - 16:59 | 5922917 HamRove
HamRove's picture

MDB - "unfettered" ???

ROFL....In the immortal words of Princess Leia, "I don't know where you get your delusions, Laser Brain!" 

Tue, 03/24/2015 - 18:04 | 5923086 cnmcdee
cnmcdee's picture

It is very practical, no imperative that the common population not understand the real rules, where the real power lies, how the game is really played, because if they ever do become mass aware - and mass active we that do know would cease to hold our edge over them that do not...

- anon

Tue, 03/24/2015 - 18:05 | 5923092 MrTouchdown
MrTouchdown's picture

I think MDB is a social scientist trying to do some experiment. Nobody could be that dumb without an agenda.

Tue, 03/24/2015 - 18:14 | 5923118 Bilderberg Member
Bilderberg Member's picture

How's that marxism working in North Korea?....A little soy sauce in your sawdust soup?

Tue, 03/24/2015 - 17:16 | 5922957 GeezerGeek
GeezerGeek's picture

It is awesome to learn that the juicy contract awarded to Dianne Feinstein's husband was an example of unfettered capitalism. It certainly did its part to widen the gap between the rich and the rest of us. Likewise, I'm so pleased to learn that the gold mining deal entered into by Haiti and Hillary Clinton's brother was unfettered capitalism. I never would have guessed.

Apparently Libs have not stopped redefining - and thereby ruining - perfectly good words to advance their agenda. It was bad enough to have a word like gay redefined to mean homosexual, because the latter is such an ugly-sounding word, whereas gay sounds, well, gay - as in merry. Henceforth 'unfettered capitalism' will replace 'insider greed', because we would never want to accuse Feinstein or Rodham of greed, especially that of the insider sort.

Tue, 03/24/2015 - 17:29 | 5922983 Binko
Binko's picture

Nepotism is out of control at the higher levels of the ruling class. Whether it's the wife of a senator running a multi-million lobbying firm or the dim-bulb brother of Hillary cleaning up on foreign deals. It's the same deal in China or Russia or anywhere that power is concentrated.

All the world is rushing towards a single form of government - a centrally managed security state controlled by a select oligarchy but with the trappings of faux democracy.

Wed, 03/25/2015 - 00:00 | 5924075 one_hundred
one_hundred's picture

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com

Tue, 03/24/2015 - 16:11 | 5922745 NoDebt
NoDebt's picture

OK, the 'Ciffhanger' clip was more exciting than the market action.

 

Tue, 03/24/2015 - 17:27 | 5922974 Fidel Sarcastro
Fidel Sarcastro's picture

I love all the pics that describe the day's action like; "Hold"...and..."Sell All The Things!"   LMAO

Tue, 03/24/2015 - 18:35 | 5923187 Dollarmedes
Dollarmedes's picture

I liked the desperation in the lady's eyes as she realized she was going to die...she really sold it.

Do you think she got a dead climber bounce at the bottom?

Tue, 03/24/2015 - 16:12 | 5922749 The Bell Rang
The Bell Rang's picture

Could be Just one moreeeeee  bounce, we will see.

Tue, 03/24/2015 - 16:37 | 5922855 Gambit
Gambit's picture

Nah, it will hit lower lows and lowers highs going forward... then the big one will hit Sept/Oct.

Tue, 03/24/2015 - 16:14 | 5922757 Unknown Poster
Unknown Poster's picture

With trannies going down, the SEC will be taking a close look.

Tue, 03/24/2015 - 16:18 | 5922776 Bell's 2 hearted
Bell's 2 hearted's picture

the bastards probably got 3D monitors ... courtesy of US taxpayer

Tue, 03/24/2015 - 16:15 | 5922758 Keltner Channel Surf
Keltner Channel Surf's picture

“Chart of FAS”  by Blondie

Once we had QE, and it was a gas
Soon turned out, had a chart of FAS
Seemed like the real thing, only to find
Moss + lichen, Fed & markets entwined

Once we had doves, and they started to shine
Got audaciously long, if you were so inclined
Seemed like the right move, though many declined
Mucho mistrust, jobs falling behind

In between all the endless printing we were feeling fine
Now ‘lift-off’ is confusing, there's no peace of mind
I fear the Fed is losing it, it's just no good, teasing like they do

Once we had Taper, and bears started to mass
Soon turned out, had a chart of FAZ
Seemed like a sure thing, only to find
Even fixed shorts were kicked in the behind

Lost inside deplorable conclusions that they cannot hide
It’s all so darn amusing, can’t get off the schneid:
They caught the hedge funds snoozing, yeah

Yeah, riding highs on doves’ true brutish might

Oo-ooo, Oh        Oo-ooo, Oh

Once TLT was such a gas
Now they’re short, such a pain in the ass …

Tue, 03/24/2015 - 16:15 | 5922759 Bell's 2 hearted
Bell's 2 hearted's picture

let me guess ... someone got an advance peek at durable goods orders?

Tue, 03/24/2015 - 16:32 | 5922833 NoVa
NoVa's picture

of course they got a peak.  

heck - us ZHers know better - just look at Lumber, Cooper, Baltic Dry prices and trends.

Then look at yield spreads better Euro sovereigns and Treasuries.  

 

my buck says we peaked on S&P through the Summer.  

 

NoVa

 

Tue, 03/24/2015 - 16:15 | 5922762 monopoly
monopoly's picture

Maybe, just maybe....No, can't be. Can never happen, but maybe.........

Tue, 03/24/2015 - 16:27 | 5922772 Rainman
Rainman's picture

Everybody is in full reach-around mode ... 5 trading dayz to go to bonus booking !

Think of it like a game of football. The playerz put up points one quarter at a time  .... and the fans get no refunds if they stink and lose the game. 

Tue, 03/24/2015 - 16:21 | 5922789 assistedliving
assistedliving's picture

every WTF? on these charts equal 1,000 lil guys taken out and slaughtered. 

Tue, 03/24/2015 - 16:24 | 5922795 Jack Burton
Jack Burton's picture

Club that fucking Copper!  I am just waiting for the huge underground copper mine, that a 100's of millions of investment dollars have poured into, to fall on it's face. I know locals here have already been counting the monies the mine will bring to the whole region, but I have a stake in it failing. I told many local business and political leaders here, that copper was a huge bubble, based on an overheated China, and we would never see such a huge, high cost, copper mine make it in the coming market conditions. THEY, of course, called me crazy! So ,yes, I want them to eat shit. Whenever I approach local leaders with sound adivce, I get shit on. I warned our small city council NOT to spend a huge amount of tax money opening up virgin land for new housing developments, with roads, gas, sewer, water, electricity, the lot! This was 2005, the city council was determined that a huge building boom was coming to our small little town. I told them NOT to spend tax payers money. They called me crazy in 2005, and none of them ever admitted I was right, even though a 100 lots all ready for home construction sit growing back into forest!

If a person follows economics based on fundamentals and on the ZH model of economic reporting, your average run of the mill business and civic leaders think you are NUTS if you tell them the true facts about the markets. "No housing bubble they told me", "No copper bubble they told me". I said bullshit!

Tue, 03/24/2015 - 17:11 | 5922943 The Joker
The Joker's picture

You're crazy.

Tue, 03/24/2015 - 18:33 | 5923178 Legolas
Legolas's picture

You're a booby if you think Jack is crazy.  Just sayin.....

Tue, 03/24/2015 - 19:22 | 5923307 SeattleBruce
SeattleBruce's picture

I believe The Joker is telling a joke...

Tue, 03/24/2015 - 20:02 | 5923399 Legolas
Legolas's picture

That makes me feel better.  Thanks.

Tue, 03/24/2015 - 18:51 | 5923226 cherry picker
cherry picker's picture

You're not crazy, problem with people who have been around for awhile and learned the hard way to live within means are dealing with a new mindset. 

There are many more of them than us and they rule.

Sometimes it is best just to let them dig their own hole. 

I got lambasted in the past for doing what you did.  More often I was right in the end, but what good is being right if they continue?

Tue, 03/24/2015 - 19:28 | 5923319 YHC-FTSE
YHC-FTSE's picture

Well, older or more experienced people have a tendency to recognize folly when they see it because they've seen it before. The problem with the young and the moronic old is that they always believe, "This time it's different".

I keep my mouth shut. One, because nobody wants a sour puss like me raining on their parade especially when lots of money (and potential for even more) is involved. Two, if I were honest I get a twinge of schadenfreude when it all falls apart for those greedy over-enthusiastic maths/business-illiterates. I know, it's awful and I shouldn't but I'm only human.

It's bad enough when jumped up local politicians rob the tax payer to spend it on "Worthy causes". Robbing and worse, borrowing to nakedly persue greed and profit is openly criminal behaviour. Every bloody pissant local and national politician should be required by law to learn the story of Davy Crockett and Horatio Bunce by heart. We would never get any of them dipping into the public purse for good reasons or bad again.

Tue, 03/24/2015 - 16:26 | 5922803 Kaiser Sousa
Kaiser Sousa's picture

presented without comment... http://www.livecharts.co.uk/MarketCharts/silver.php

except - DEATH TO THE MONEYCHANGERS

Tue, 03/24/2015 - 16:27 | 5922808 nakki
nakki's picture

Stocks slammed? Come on enough Tyler's you're better than that. .6%(12 whole handles) in the S&P is barely a slap. Save the hyperbole for CNBC. 

Tue, 03/24/2015 - 16:42 | 5922870 Bay of Pigs
Bay of Pigs's picture

+1

Some of the headlines here are a fucking joke these days. Pathetic really.

Tue, 03/24/2015 - 17:26 | 5922971 Oldwood
Oldwood's picture

The world is a circus.

Tue, 03/24/2015 - 17:07 | 5922932 NESD
NESD's picture

I went to the supermarket today.  Saw that they reduced the price of a can of peas from $0.50 to 2 for $0.99. Did they slam down the price or was it just a modest and nearly imperceptable decline? Help Tyler, I need the answer to this question.

Tue, 03/24/2015 - 17:24 | 5922968 lakecity55
lakecity55's picture

Yes, 300 points or more would be a slam.

 

now if the market was only at 1000, 100 might be a slam.

Tue, 03/24/2015 - 16:28 | 5922815 stant
stant's picture

"Tuesdays gone in the wind"

Tue, 03/24/2015 - 16:32 | 5922836 moratar
moratar's picture

OMG WTF copper went up!

OMG WTF copper went down!

OMG WTF copper went up!!

OMG WTF copper went down!!!

Looks normal to me.

Won't be surprised if it goes up and down again.

Where is this drama comming from?

Tue, 03/24/2015 - 16:52 | 5922896 Hohum
Hohum's picture

Stocks caught down to credit?  I thought stocks always diverged from credit.

Tue, 03/24/2015 - 16:56 | 5922909 Chuck Knoblauch
Chuck Knoblauch's picture

Wosrt Tuesday since L.....

Tue, 03/24/2015 - 17:21 | 5922963 sessinpo
sessinpo's picture

Soon to be headline, "Worst Tuesday since Monday"

Tue, 03/24/2015 - 17:02 | 5922923 adr
adr's picture

What a total shitshow.

HEY PEOPLE BOUGHT NON EXISTENT HOMES BECAUSE IT WAS ALL A DATA FUDGE. SEND HOMEBUILDERS HIGHER!!!!

I wouldn't care if I was putting up homes made out of cardboard if I could constantly sell shares of my company for record levels of money. Fuck, building a few hundred million dollars worth of homes that will never sell is actually a winning play since the stock of said companies keeps going up. They can sell stock and make money even if the millions of dollars worth of homes are a complete writeoff.

WAY TO GO FED!!!! You made it possible for everything to nowhere to be profitable.

aaaaannndddd WHAT THE FUCK IS GOING ON WITH OIL.

Oh makes perfect sense. The build was less than expected at the place running out of storage capacity SO LET'S RAMP THE PRICE!!!!! Jesus fucking christ.

The market is an insult to full retard. I mean if I was a full retard I would be offended at the market being called full retard. Yeah I might be retarded, but at least I'm not the stock market.

 

Tue, 03/24/2015 - 17:22 | 5922964 lakecity55
lakecity55's picture

stuff goes up, stuff goes down.

sometimes it goes waaaaay down, but not just yet...

Tue, 03/24/2015 - 17:34 | 5922998 Jstanley011
Jstanley011's picture

One or two days shooting, three max, then home. Sure your character dies early in the flick. But hey, you're making the Guild rate for a speaking part. And although the part was short, it was more than dramatic enough to show your licks. It's all good.

Tue, 03/24/2015 - 17:34 | 5923005 tarabel
tarabel's picture

Those trannies would stop tumbling so much if they would just start wearing sensible shoes.

Tue, 03/24/2015 - 17:52 | 5923047 Jstanley011
Jstanley011's picture

Calling an all time high as a temporary top, based on nothing, is just as bad as calling an all time high as a pre-crash top, based on nothing. But safer, since the vast majority of all time highs get left behind as mere local tops.

On the ES we are currently double topping near the market's all time high. Could we roll over here and crash? You betcha'. Will we? It's impossible to know before the fact.

When the bears start kicking the stops out from under bull's support levels, one after another, then we'll know.

Tue, 03/24/2015 - 19:03 | 5923264 TradingTroll
TradingTroll's picture

The Dow is being stopped by an overhead trendline leading back to May '13.

For a market to cross such a strong trendline in a definitive manner, probabilities say the market must be in strong shape, no big triple digit declines recently, etc.

So, assess conditions and make yer bets.

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