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Stock Plunge To Day's Lows As Market Breaks
US equity market indices are re-plunging to the day's lows - having given up all their post-FOMC post-Greece-is-Rescued gains. S&P 500 is testing its 100DMA. Coincidentally, as the plunge began:
- S&P DOW JONES INDICES SAYS EXPERIENCING INTERMITTENT ISSUES DUE TO OBSERVED DELAYS WITH CME DISTRIBUTION
- S&P DOW JONES INDICES SAYS EXPERIENCING INTERMITTENT ISSUES DUE TO OBSERVED DELAYS WITH CME DISTRIBUTION, AS OF 9:34 AM ET THIS MORNING
And this is happening just before the Russell Rebalance volumefest hits: expect some very optimistic rumor to hit just before the close or else it may get ugly.
This has removed all the Greece Is Rescued gains and erased most of the FOMC "dovish" gains
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> BTFD
> Don't BTFD
only 2 votes for btfd? no wonder everyone is so angry around here all the time. lulz
You connected the dots. Only this time I sitting on my hands until Monday.
Time for the FED to heat up the fiber optic lines between the West Creek Operations Center and the CME.
OMG, the S&P is down 5 points. the horror, the horror. tell the fat cow to put her gallon of gravy down and start printing moar....or else.....THE WORLD WILL END!!!
I tend to agree, but there are times when I wonder if TPTB will go with the slow bleed downward vs the quick plunge. They are some sick fuckers, they may want to drag it out.
they did the slow bleed from oct07 thru sept08. s&p dropped from 1580 to 1260 when LEH finally was forced into bankruptcy by the bernank.
That wasn't a slow bleed. I made good money during that time period. I'm talikin about a slow multi-year grind downward where neither long nor shorts can make any real dough.
No problem! Kevin Henry's in the bullpen warming up.
330 ramp on its way
the only dip is in bonds/notes
#InterestRatesDontMatter
they started early today...
Dow will be green by the close.....
nice picture.
seriously, "Plunge" with S&P down 3 points on the day. Come on Tylers - use plunge when we are at 30 handles
Using Materials XLB as a leading downside indicator here. Money won't go here to hide:
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Fund&symb=xlb&time=8&startdate=1%2F4%2F1999&enddate=6%2F26%2F2015&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=3&maval=50&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11&x=34&y=14
Markets... LOL!
Yep, markets. Not good, clean, fair or open, but markets none the less.....
Has it ever, once, ever broken while the market was going up?
but at least Obama can divorce Michelle and marry Reggie Love...
That could be dangerous. I think Mike Obama has the potential to become violent.
It could chimp out at any moment
Awww.. we hurt some wookie lovers feelings
ah the Chicago Mercantile Exchange....
fucking rigged and run by cocksucking sociopaths...
enjoying the Silver and Gold phony paper price show today??????
Trapped in the circlejerk.
You know what realy grinds ny gears? All of it!
It's funny that intermittent issues only come up when the machines are selling. I have an idea, make selling illegal and that will fix everything. I'm joking now, but it's coming.
selling is allowed but only after an uptick. lol
I'm a buyer. It looks dumb written out, but I'm holding my nose. Which also looks dumb without context.
Define "testing" the 100 DMA. By how many % does it have to be undercut?
Bullshit cubed.
Why are all you fellers always so negative.
"When you're chewing on life's gristle, don't grumble, give whistle..."
Looks like central banks are going to have to start buying bonds.
start?
Remember this from a couple of months ago?
What each country leads the world in.
Plunge? Stop it. I know it's a slow news day, but come on. Plunge, collapse, etc., anything to drive those page views which translates into advertising dollars. I know you guys have to make money, but don't turn into CNBC.
Guys, I know there is no shortage of pundits around here.
But I can't help but think that the conservative investors that normally buy bonds are not going to be attracted to either equities or bonds at these prices when the bond market starts to tank. They are going to start thinking in terms of liquid tangible assets that hold their value in times of stress.
Even a 4-5% yield is not going to look attractive if the underlying asset (the bond or stock) is dropping by 1% per week, and the currency that it is denominated in is falling as well. For the past year, when the dollar was strong, hiding in cash would cut it, but what happens when there is no fiat that is holding its value to hide in? Then I would think it would get more interesting.
Yea, I know, some of you are thinking that the only buyers have been CB's anyway, and that could continue for a while. But what happens when they starting clocking big capital losses instead of gains or flat trades. I still think it could get interesting for metals.
Hate to sound like a broken record, but I can't help but believe that we are going to see a flight to safety bid on metals at some point.
There, now I said it again. We'll see.
Is this yet another instance of ZH marking the intraday lows...