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Dow Futures Open Down 300 Points, 10Y Yield Tumbles 20bps As EURUSD Plunges Over 200 Pips
Buy-The-Dipping, "Greece doesn't matter", Escape-velocity-forecasting, QE-front-running, Central-Bank-believing asset gatherers everywhere must be salivating at this 'healthy correction' opportunity...
As Jonathan Krinsky ( @jkrinskygpa ) noted, this is the world's equity traders right now...
With EURUSD making fresh lows at 1.0955... as more FX broker platforms come online. EURCHF is down over 1%
US equity futures open down hard...
Here's a nice closeup view of $ES_F right before and during US open at 18:00 ET "falling cliff + stairs" pattern pic.twitter.com/AbdBMdHU2o
— rockhowse (@rockhowse) June 28, 2015
But Greece was rescued, right?
- *TREASURY 10-YEAR FUTURES RISE 1 1/2 TO 126 17/32
Which implies a 20bps plunge in yields!
This might have something to do that that collapse...
- *WTI OIL OPENS 79 CENTS LOWER AT $58.84 A BARREL IN NEW YORK
- *GOLD FUTURES CLIMB 1% TO $1,184.60/OZ IN NEW YORK
Unleash The Bullard
Charts: Bloomberg
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This just in:
ZIMBABWE HAS OFFERED GREASE [sic] GOVERNMENT A GIFT OF TWENTY TRILLION DOLLARS (ZWD)
Looney (as goat is my witness) ;-)
Financial Gravity is real.
Long Citadel green buttons
I blame SCOTUS.
I ain't no spell-nazi, but... it is SCROTUM. I think?
Looney
P.S. I blame it too ;-)
Weather forecast... 100% chance of a severe shitstorm!
Do I need an umbrella or a shit-bucket? ;-)
Looney
As soon as "the markets" open, we are going all in on the manufacturers of Brown 25, their subsidiaries, and their suppliers.https://m.youtube.com/watch?v=lRPQSxp25z4
In the pre-2008 world, US Treasuries were perceived as a safe haven and would be rallying on this news. It's different this time. Faith in the entire central-bank-backed world is starting to unravel. The plunge protection team is huddling right now, and you can guarantee that they'll resort to the the old standby of QE to the moon -- buy massive amounts of bond and equity assets with their funny money. I wonder when they'll realize that this "fix" is actually the root of the problem? They are buying from themselves and starting to create a financial vortex.
At 10:00 pm unexpected buying will commence and stocks will have lift off and we'll be wondering who is buying this sh|t?!
Is it too late to get in on some shares of Soylent Green? I think it has a bright future.
Do I need an umbrella or a shit-bucket? ;-)
A Helmet, Body Armor, Throwaway Clothing, and a shovel to dig yourself out is a must. Perhaps you may need an Air Supply and Respirator depending upon how deep the shit gets.
It is a Torrential Shitstorm with the potential of Flash Crash FLOODING.
Be careful as nobody else will be there to help you dig yourself out of the Tsunami and Hurricane of Shit headed your way.
Supreme cock offer to up suck? Took a shot. Damn short PM paper must be getting FED level expensive this AJA morning.
Not yet this is just hedgeing. Gravity would be a closed market as in Greece.
Buying is the only game allowed.
Financial Gravity is real and it's finally showing it's down time.
Well, Zimbabwe will only give the Greeks the gift of (Z) 20,000,000,000,000 if the Greeks can break a (Z) 50,000,000,000,000 bill. I'd help out but all I've got is (Z) 100,000,000,000,000 bills I got on eBay.
Knuckles nailed the open, right down to stawks, which I had wrong.
Having one in your honor, Swami.
Classic flight to quality panic time.
Now we'll get to see the true measures of Central Bank manipulations, for they're gonna want to pump stocks and slam gold. Flight to quality, any port in the storm. And why not one would say, let the market's open, assess the magnitued of the damages and then act "accordingly".
I'll guarantee you that Kevin et al and the boys at the BoE, BIS, etc., are already at their desks.
Pizza!
This is going to be the classic sit back and watch the CB muscle and Propaganda time.
Enjoy, my friends.
Have one for me, Kaiser.
BTW, I'd help out with the Z$ 10,000,000,000,000,000,000 but I just gave that amount, my very last, away to some guy in Nigeria who keeps sending me faxes.
BTW2, word association: Crowded theater ... Fire!
All the indices are bouncing hard off those opening bottoms/tops. 1 to 2 percent is puffery. BTFD is alive and well.... even if the PPT has to do all the heavy lifting.
http://finviz.com/futures_charts.ashx?t=ALL&p=m5
Absolutely. Once taken down, first step is to "stabilize" and hopefully draw some buyers back in.
Classic .... Absolutely Classic
When I looked at the "limits" of the carnage, my first thought was that "The Ubiquitous They" were already in. "You can smell it"
we'll see if this is the first one to bust the PPT out...
The triumph du jour would to simply get (at day's end) market levels back to about where they closed on Friday.
Would be a "There was some disturbance to the force at the open, silly mistaken people, but see, all's well"
":) :) Happy Happy :) Joy Joy :) :)" Say all you want but that's where the prices closed. "No big deal."
Pure Perceptions Management. WIll be accompanied by Propaganda Pronouncements.
MOAR All's Well, All's Clear, Do whatever it takes, etc., etc., ad hoc, Burma Shave
lol! I am curious if they can do it. They have done well so far. This is a giant turd speedily making it's way right into their face-- HAHAHA!
If they handle this, I think they need at least a trophy.
But Now for the Important Stuff ....
1.) True Detective's On Tonight
2.) No way that Pacio/Mayweather wasn't a scam, Bradley's loss to Provodnikov some weeks ago looked suspicious as in possibly fixed and Bradley's saved by an early call last night to Vargas was errily "fixed looking" as well
Hah!
See, it's fixed everyewhere. Follow the money!
Same shit all over again.
What do big and very long Red candles signify in charts, on the first markets to open today. I'm no chartists ya know but they look angry... like a lady in leather banishing a big red Dildo
I'm going against most here. I'm calling the markets closing BIG RED DOW -276 S&P -38
They needed an excuse to deflate the markets a bit. They got one
Looney said: ZIMBABWE HAS OFFERED GREASE [sic] GOVERNMENT A GIFT OF TWENTY TRILLION DOLLARS (ZWD)
----------------------------
Glad to see Zimbabwe is offering their 2 cents.
But the Greeks will be thankful for the TP.
Fuck Bullard!! Fuck you Yellen!!
Actually opening swap lines to Greece might not be a bad idea.
Wouldn't even need Wall Street given how worthless the debt and the so called "currency" it is based on is.
Let Jamie "I'm richer than you" Dimon buy up all that negative yielding shit paper and call himself "master of the Universe!"
Hell we could even create a "Jamie Dimon action figure" if he goes down that road of "buy high BUY HIGHER!"
Massive buy blocks coming into S&P Futs. Either central banks or hedgies with some money to burn. Nothing would surprise me, including being green by 9:30 am. What would stop them from doing it?
My guess is that the Fed wouldn't mind a little correction here. Blame Greece and not an interest rate hike. But tomorrow is the last day of the quarter to grab the 20 of the 2/20
CB's are buying S%P futures, selling Euros, buying treasuries, selling gold and VIX.
In the green by 9:15 - PPT Motto
Bullard, that fucker or any of his fellow fuckers will turn this market around tomorrow and we will end in the green. This market is so rigged that even a blind man can see it. All this craziness will be gone tomorrow. Same as it ever was. Fuck you FED.
"A man has to know his limitaions."
Our problem is with the Federla GOVERNMENT and not the Federal Reserve...
is that a Trillion Dollar coin in ur pocket or you just happy to see me?
Both.
Just one paper dollar actually...
the fucking money changers better not fucking intervene.
let it fucking die this ''market''
take the banks down with u, fuck the bankers!!!!!!!!!!!!
Watch the collapse here. DJIA down 322 earlier, SPX minus 40 for starters:
http://www.investing.com/indices/us-30-futures-advanced-chart
I bet by the end of the trading day tomorrow the DOW will only be down 22pts. Or maybe even up 22pts. Same as it ever was.
Socio-economic Keynesians, please...DO-NOT-PANIC!!! ;-)
CNBC reporter defends hisssss view.https://m.youtube.com/watch?v=tSScnOwL8tc
No running with scissors...,
Lord God Almighty, that's gonna leave a mark...
And just like that, Abe & Co. must be shitting Cuttlefish squirts as usd/jpy drifts ever lower.
C'mon, sing with me:
"Ohhhhhhh, Nooooo; There goes Toe-Kee-yo..."
Ang gold is up $3.00. ;-) The deck chairs on the Titanic are still being arranged. Just wait until London opens.
More like a Financial Stalingrad would appear...
I'll get excited when silver jumps up 3 bucks, in gold I could give a shit less unless it has two zeroes behind it.
Yeah, London. With it's intellectual atheist cynics. The FTSE been going down so far. It's not like the confused DOW.
Tylers earlier post of betting had it down -221, which stretches credibility IMO but between down and up it's going to go down.
Starting to look up from the deckchairs I think. Maybe that Queens speech wasn't such a good idea. Do we really have time for this?
Why am I long yen again?
DAX down 491, minus 4.2%:
http://www.investing.com/indices/us-30-futures-advanced-chart
Greek yields are twenty percent.
That's your benchmark.
In Germany they have "negative rates."
Why would anyone own that?
General Strike in France dead ahead...
something wrong - gold's up, someone is manipulating it.
"Frenchmen start hoarding coffee tins as well...
Yesssssss...
Time to load up on some LinkedIn stock on the cheap!!!
Fuck our markets, lets see what CHINA does. CHAU, ASHR, CHAD
Ding Ding Ding
How pissed are the Chinese at America? Enough to start a monster wave of selling panic?
The Green Mountain boys could get caught with their pants dipped.
Oooh, oooh, the Dow "collapses" by 322 points. Gold "surges" to 1184. These words are bullshit. When the Dow plunges 2000 points or more, that will be a real drop. When gold surges to over $1800, that will be a serious rise in its' value. Otherwise this is just sensationalist BS yellow journalism.
Words really don't have meaning anymore, bitches.
You kill me!
DJIA -1.73%, SPX -1.86%, DAX -4.77% on the low, it's all bad:
http://www.investing.com/indices/us-30-futures-advanced-chart
I wonder how many global market makers/indexes will declare "self help" over the next 24 hours?
At least we have NANEX...
Yawn. Wake me if the casino (formerly referred to as 'the market') is in the red by 300 or more at close tomorrow.
You beat me to this comment. Dow will close green tomorrow. You heard it here first. Well maybe not, depends on if somebody else said the same thing and you heard it there first. When will folks ever learn the stock market doesn't reflect fundamentals, Grexit, and/or nuclear holocausts.
Ironic, you would have expected the leap second adjustment on the 30th, dealing with large rotating bodies, to be the big story, but instead we get an even larger LEAPS adjustment, from rotating, dysfunctional bodies.
Moar fodder for the masses... Just like the Y2K banter.
I'd be paying more attention to eur/gbp EOM & EOQ flows. Traditionally, rebalancing is heavy as gbp is(sold) repatriated to mainland Europe for various [eur] swaps agreements, and payments.
I'm watching eur/gbp flows.
I may need to head out to Best Buy and get a few 50" monitors, my current trading setup may not be "scrollable" for the potential whipsaws to fit on my screens.
There's adjustments for that on your platform for guys like us that like to do overlays. ;-)
You know? Those divergences between bond yields and equities.
Ha, I'll bet you made millions from that chart, surprised you haven't been able to retire. Perhaps tomorrow will put you over the top.
Well one thing's about 99.9999% sure. Between that RUT rebalance and "risk off", your PUTs should be nicely green tomorrow morning.assumimg you bought them
Arrgh! You know I'm always 100% cash at every close (which is why I've missed the fun lately, everything has been overnight since early Feb).
[Scene: couple enjoying a winter holiday in a charming, mountainside chalet]
She: "Honey, what was that noise?"
He: "Just some thunder."
Buy the f dip! Dare ya!!!
DAX down a clean 5% on the lows, but a knife-catching game seems to be picking up in other index areas:
http://www.investing.com/indices/us-30-futures-advanced-chart
As the religious right will tell you: "See! This is what happens when you let gay people marry."
Expect earthquakes, floods and plagues of locusts next :D
DJIA futures already 50 points off the lows. Is it too late to BTFD already?
Lol, that's funny. Not completely accurate but funny since it won't be restricted to the 'right'.
That's what some of the fundamentalists will say in America. They've already had the 'fire death fest' in Taiwan's version of pride (Natural news). The 'End Times' because of 'Gay Marriage' is what a great deal of these people will actually think.
Atheist cynical England won't think that though. The left might end up thinking it's the new shock doctrine. The establishment types will be in for a real shock! (This is all assuming some sort of global crash that effects things in real terms.)
Did anyone see what happened to the DAX there. A MAJOR player was allowed to exit their long position. How rigged?
Don't be silly. Not a chance in hell will the markets be negative tomorrow. All time highs by the end of the week.
Am I reading this right and seeing the EUR/USD now GREEN? lol
... i've been short for 8 years ... and one day, just one fucking day, that i go long the whole fucking world goes into a shit storm ...
Still many more points of downside due. Chill :)
You can't be serious. That's just TOO funny! (At your expense, but you bought it up.)
Yeah let's buy futures with YOUR money... thank you, signed PPT
the fucking ppt is already at work.
at its lows, dow futures were down 315, now without any volatility, dow futures only down 250. i fully expect it to be only down -150 by late tonight.
fuck these money changers, they each need to be dealt with in a violent way.
This casino can't lose, it has access to limitless chips.
You however have to buy your chips from them ;-)
That 10 year move is beautiful.
HOT DOGS!!
GET YER HOT DOGS!!
PEANUTS... WHO NEEDS PEANUTS???
The Morgan Stanley pukes must be on Z/H. Watching exactly what I said would happen. Their precious little 122.00 barrier in usd/jpy got taken. Just wait for the next wave of selling to kick in.
NOW gold futures are up over 1.00%
I thought all of this was priced in
How many Fed apparatchiks will be giving impromptu interviews saying how QE might be revived soon? How many columns will Hilsenrath write between 6 a.m and noon?
Periphery bonds will be the key, that will be in the comming weeks not days. I expect up from Friday by Tuesdays close.
The Fed may be buying futures? LOL. Fed is buying every equity on the board. Zul only knows how much total they are holding today, and probably 5x that much by Friday. Get out some of that nice Greek olive oil, you're going to need it.
I predict down 250 to 300 Dow points at the open, then Steve Liesman will step up around 10 and announce that everything is fine.
BTFD right before Stevo.
All green by close. The PPT is the majority of the market these daze anyway.
It'll close up 200 puts. Buffet will be on CNBC talking up Murica.
Isn't Saturn in Pluto's ass or some such marketscope prognosis? A couple blood moons on some Jewish holidays and we'll all be fucked. BTFD.
Futures will be green by morning.
I'll be telling anyone if they start getting worried to go for Yuan (or substitute), not metals.
So if the markets go into free- fall tomorrow most of you will have been WRONG!
That about sum it up!
This is not a real market. It's more like a necrophiliac market where traders are having sexual and trading intercourse with other dead traders.
Many of them are doing very well both financially and sexually.
Everybody knows that a healthy correction could lead our five digit Dow to a 4 digit one.
That's why at the slightest hint of a correction, General Yellen orders all her artillery to the front and tens of billions of dollars appear in the accounts of member banks before the market opens and is subtracted after the close.
You prolly should read "How To Keep A Moribund Economy Alive For Ten Years" by Dr. Stanley Fischer, Necrotrader.
Want a good laugh watch as the talking heads and LIESman attemp to spin this shit positive. On second thought don't watch, may become ill.
According to Macquarie Research:
http://personal.crocodoc.com/lHeFs3w
China drama & Greek farce
Are Central Banks at the end of the road?
Greek and Chinese dramas question role of Central Banks…
- The latest developments in China and the Eurozone inevitably invite the question whether Central Banks are coming to the end of the road. Given the limited impact of their policies on real economies with stimulus largely being confined within walls of financial assets, has the time of reckoning finally arrived?
- As discussed in the past (here & here), the only sustainable LT outcomes for the over-leveraged and over-supplied global economy are either: (a) allowing the deflationary cycle to go through, thus eliminating global excess capacity in service and merchandise economies; (b) elimination of excess debt via some form of hyperinflation and/or co-ordinated debt cancellation; or (c) banning capital markets via nationalization. Given that neither of these alternatives is attractive, involving pain for either borrowers or savers; intergenerational transfers or courting sharply lower ROIC, CBs would rather kick the can down the road in the hope that a solution would be eventually found.
…and should CBs place monetary policies in neutral gear?
- PBoC’s half-hearted attempts last week to slow the pace of appreciation of the equity market have inevitably and predictably resulted in severe correction. The double-barrel reduction in interest rates and RRR on Saturday is a belated realization that it is courting a significant economic backlash. As discussed here, we do not believe that China’s de-leveraging is either possible or desirable. Having reached leverage of ~3:1, any debate about the evils or virtue of debt has passed a long time ago, and the only viable choice from now on is to continue leveraging, though perhaps at a somewhat slower and safer pace.
- In order to continue leveraging, PBoC has to make sure that: (a) there is no sharp correction in any of the key asset prices; (b) at least some asset prices are appreciating; and (c) there is no further contraction in nominal GDP. This requires a combination of exceptionally stimulative monetary and fiscal policies as well as trust that a country is not yet in a liquidity trap and that it is capable responding to stimulus in safeguarding nominal GDP. The game is no longer about reaching 7% real GDP growth but avoiding zero nominal GDP.
- The same dynamics are playing out in Europe. The battle is between politicians who have not yet grasped that deleveraging is no longer feasible, and the ECB, which is fully onboard. Whether Greece is allowed to exit does not alter the basic argument that the numbers do not work, unless leveraging continues.
China is at very early stages of stimulus
- We maintain that China is at an early stage of significant (probably the largest globally) stimulative action. We expect that over the next two years, RRRs would be reduced to historic levels (i.e. 5-6%); interest rates would be lowered to zero and fiscal spending would become much more aggressive (including multiple banking re-capitalizations). The only question is whether China would send a massive inflationary pulse through global economy or would aim for more moderate impact. Initially, the PBoC would be aiming for moderate outcomes, ensuring support for asset prices but avoiding more disruptive action. However as we progress into 2016-17, more drastic actions might be needed. In the meantime, we remain O/W MSCI China, as equities remain the least systemic asset class that can be leveraged, at least for now.