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Stocks Suffer Worst Week Of Year Amid Biotech Bloodbath, Commodity Carnage, & Bond Buying
This seemed appropriate...
But "everything was awesome"?
- Russell 2000 -3.1% - worst week since Oct 2014 (Bullard)
- Dow -2.8% - worst week since Dec 2014
- S&P -2.1% - worst week since Jan 2015
- Trannies -2.8% - worst week since Mar 2015
- Nasdaq -2.2% - worst week since Mar 2015
Who is to blame for all this?
@InEgo_ I'm holding him accountable pic.twitter.com/KeNNDewp70
— StockCats (@StockCats) July 24, 2015
Leaving The Dow comfortably red year-to-date...
This is notable.. VIX was pressed notably lower into the close and stocks went nowhere - either Kevin Henry just lost his mojo OR traders are unwinding hedges and underlying exposures at the same time.. in other words - derisking in size!
The Nasdaq tumbled to its 50DMA, Small Caps broke below 50DMA & 100DMA, pressing 200DMA, S&P broke its 50DM And 100DMA, pushing towards its 200DMA, Dow smashed below its 200DMA, Trannies back near 9 month lows.
Ugly day...
AMZN retraced over half its overnight gains...
Biotechs... worst week/day in 3 months
Buggered... 50 Biotech names (1/3rd) dropped over 4%
After Biogen was battered... down 22% (worst day since July 2008)
Treasury yields plunged on the week (except 2Y which inched higher)... 30Y yield's biggest drop since March
The massive flattening in the yield curve (2s30s -27bps) is the biggest 2-week flattening since Sept 2011 (and biggest weekly drop since The Taper Tantrum)...
The Dollar has been relatively quiet for the last 3 days as AUD plunges and EUR strengthens...
Commodities were whacked all week but Friday afternoon saw gold & silver bid as Crude tumbled to 4-month lows...
Crude crashes for 4th week in a row... (down 20%)
Commodity carnage... year-to-date...(except higher gas prices!!)
On the week: Bonds good, Stocks bad, Gold ugly...
Charts: Bloomberg
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So, we have the global eCONomies crashing, commodities crashing, markets tanking, and the fed leaking information about upcoming rate hikes all while El Presidente Zero is visiting his country of origin and Jade Helm just getting rolling. Hmmmm,...... It's probably nothing. Have a nice weekend bitchez!
Have we run out of paper money: No + Have we run out of market sheeps: No = Bear trap
The only way gold is ugly is if it's cast in the form of Mr. Yellen.
Who? Me?
This "glitch" meme is already played out....they aren't that stupid. Anything to engineer expectations. You believe it you are Fed Food!
THEY. CAN'T. RAISE. RATES!!
I fully agree, but you also need to remember.... THEY. CAN. DO. WHATEVER. THE. FUCK. THEY. WANT.
Engali, you should write headlines. That's about the most concise You Are Here description that I have ever seen.
Yeah.. it's NOTHING i'm sure...
Need a sound track and the deer ps engali our ng unit deployed today , busy runnig around town
Seeing this crash will be the most orgasmic moment in my entire life.
Fuck the FED
The VIX poked it's head out of Yellens ass today.
S&P 500 VIX 14.17 +1.54 +12.19%Some have said that's still too low to indicate any great concern, but an alternate theory is everyone's drivin' around without their seatbelts, recreating scenes from 50s movies where they race toward a cliff and see who can stop closest to the edge (perhaps with Bullard holding a big trampoline down below).
I think your alternate theory is probably more accurate KCS. I realize 10% of 14 is much less than 10% of 40 but that's probably the retarded thinking of most professional traders. (not the poor downtrodden retail)
My guess is that Bullard is holding rice paper over a giant crater.
As the herd seemingly thinks they're jumping into a river or lake, they're actually falling through the rice paper that resembles water from these lofty equity levels.
This is just the opening act and the best is yet to come......
“She’s Lost Control” by Joy Division
Confusion at the Fed just says it all -- She's lost control
And she's stinging from the latest crash in SPY -- She's lost control
And she threw away her meme from the past she extolled again and again:
That the data tells her when and where to act
She said ‘I've lost control again’
When we churned and broke the Bollinger bands
She said ‘I'll get control again’
And she ripped up Keynes’ Treatise with her hands
And said ‘We’ll get on track again’
Then she screamed out to the buy side
And said ‘You can get long again’
But when she passed out on the floor, they knew she lied
She said ‘I've lost control’
She's lost control again, she's lost control
Well I had to phone the Fed to state my case
And say she's lost control again
As I pointed out their errors and mistakes
They said ‘It’s just that troll again’
So I expressed myself in colorful ways
Until they called the cops again
And as a mall pay phone allowed for my escape
I thought “they've lost control”
They’ve lost control again, they’ve lost control
Where is all the money going to go?
Transactional banking is here to stay.
Until the 2 party government system falls.
Hope all BTFD today....Next week it's back on the lauchung pad for the next moon shot!
All we need is MOAR,MOAR,MOAR!
Wow!
Live cattle down 7%!
Every redneck with a patch of grass out here in the country now has cattle from the last run up in prices. Seriously I've even seen them in peoples front yards!
So I would say that 7% down is just the beginning.
Why are beef prices so high?
Here come's the Summer. The Undertones.
WHo cares when we have 4 horses. Pile on.
And four horsemen. They're coming.
BTFD?
:)
Blood in the streets and 4 trading days til a full moon means rumor mongers will be hard at work this weekend. BULLShIt incoming !
I feel like Lloyd Bridges in Airplane.
Went long DIA Options on Tuesday. 1st trade in over 2 years. Knew it, just fucking knew it.
Fuckers!
I. HATE. WALL. STREET.
Long??? WTF.
A cloud vomiting a rainbow!...This shit is SERIOUS!
Looking forward to cheaper coffee.
Stop buying the energy drinks, chips and chewing nicorette. It's time to buy silver and gold. And in 6 months time you can actually have some just by doing that.
Meh. I never take it seriously until I see the whites of that deer's eyes.
Soy Meal is the food of the future. Prepare yourselves.
Powdered algae is the food of the future. Soy meal is so twentieth century.
amzn the best place to buy buy still cannot turn a profit but it's stock holders feel rich.. jbezos is genius he has a company that makes, no loses money yr/yr and yet he is a billionair..jew magic no doubt. more like .gov secret money infusions into amzn google you name em..they are part of the plan for a new amerika.
WTF - Just BTFD! You can't go wrong. But wholy shit! Even Cramer is referring to "a short term top". Of course! Medium and long termstocks ONLY GO UP!