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"Uncontained" Shanghai Shafting Slams Global Stocks & Commodities Silly

Tyler Durden's picture




 

We apologize for repetition but if ever there was a need for this clip (as analogy for the complacent confidence that PBoC, ECB, Fed, BoJ, or SNB would save the world no matter what in the face of last night's epic collapse in China and uncontained follow through in Europe and US...)

Fwd to 2:00 and 'enjoy'...

 

Everything is not awesome and everything is not contained..

In China...

 

Or Europe...

 

Or 'Murica...

 

On the day, US equities staged their standard JPY ignited momo bounce off the 200DMA - running perfectly to VWAP in the S&P, before limping lower...and a mini algo meltup to VWAP at the close... all completely human!!

 

Cash indices rasmped into the European close then faded to lows...

 

But Breadth continues to be terrible - 414 New 52-Week Lows is the most since October!!

 

 

Futyures show the weakness started in China, accelerated in Europe and extended in US...

 

The S&P 500 closed red 5 days in a row - the longest such streak since January... And The Dow is the furthest below the 200DMA since the Buillard bounce...

 

The S&P is gettung very close to negative YTD once again...

 

Since Greece capitulated and the world celebrated a "fixed" Europe, the exuberance has faded... but gold has been monkey-hammered...

 

Treasury yields continued to slide... but were magically bid at the US cash open...

 

The US Dollar dumped but bounced after Europe's close...

 

PMs outperformed but still closed lower (despite the weaker dollar) as Crude and Copper were clubbed...

 

WTI Crude just hit a $46 handle...

 

Don't forget - China opens in 6 hours!!

Charts: Bloomberg

Bonus Chart: Bar Breadther-er...

 

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Mon, 07/27/2015 - 16:09 | 6360133 i_call_you_my_base
i_call_you_my_base's picture

Bang the close for "off the lows".

Mon, 07/27/2015 - 16:11 | 6360143 kliguy38
kliguy38's picture

Wait till they monkey hammer the US market........the crying will be deafening

Mon, 07/27/2015 - 16:15 | 6360167 max2205
max2205's picture

Paging Mr Bullard... Mr Bullard 

Mon, 07/27/2015 - 16:30 | 6360237 KnuckleDragger-X
KnuckleDragger-X's picture

America is self hammering.....

Mon, 07/27/2015 - 16:56 | 6360352 FireBrander
FireBrander's picture

So, is the a good time or a bad time to convert my wealth to the worlds new "reserve currency"?

Mon, 07/27/2015 - 17:26 | 6360448 e_goldstein
e_goldstein's picture

Yes.

Mon, 07/27/2015 - 17:33 | 6360473 RaceToTheBottom
RaceToTheBottom's picture

Calling Belgium!

Mon, 07/27/2015 - 23:49 | 6361698 BringOnTheAsteroid
BringOnTheAsteroid's picture

That video sums up America.

Notice how the least injured rush to the aid (NOT ! !) of the most injured. This will play out on a massive scale soon where it will be evry mother fucker for him/herself.

Mon, 07/27/2015 - 16:12 | 6360148 Tom Servo
Tom Servo's picture

I can watch that boat footage all day, when drunks are driving boats on the Lake of the Ozarks in Missouri...

 

Mon, 07/27/2015 - 16:32 | 6360245 Global Hunter
Global Hunter's picture

I don't know how I have missed that clip in the past, they are lucky they didn't die, the driver was thrown like a doll.

Mon, 07/27/2015 - 17:17 | 6360423 Gambit
Gambit's picture

Makes my day everytime I watch that video!  I laugh so much it's unreal! 

Mon, 07/27/2015 - 18:41 | 6360667 Conax
Conax's picture

With the bikini gals in the frame it's tough to do, but watch the driver's throttle hand.

That goofball deserves that knot on his coconut.

Mon, 07/27/2015 - 16:12 | 6360153 Stackers
Stackers's picture

What do that boat and the Fed have in common

both have morons who think they know what they are doing at the controls.

Mon, 07/27/2015 - 16:40 | 6360285 imbrbing
imbrbing's picture

While the sheeple passangers are thinking can this thing go any faster (higher) please? Then WHAM....LOL!!!

Mon, 07/27/2015 - 17:29 | 6360456 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

Senior central bank officials tend to be people with IQs well over 165.

For reference, most people in the world are, on average, somewhere around 105.

Mon, 07/27/2015 - 18:23 | 6360613 Implied Violins
Implied Violins's picture

You should hire some monkeys to type for you. At least they'll toss out the occasional Shakespeare now and then...unlike, now.

Mon, 07/27/2015 - 20:39 | 6361054 sun tzu
sun tzu's picture

They might have ivory tower book smarts and lots of complicated little theories, but how many of them have ever lived in the real world and worked for a real business that had to make sales and payroll? It's easy to make money when you are in charge of printing it. 

Mon, 07/27/2015 - 20:39 | 6361059 ebworthen
ebworthen's picture

Having a high IQ only means you make bigger dumber decisions, usually via hubris.

Mon, 07/27/2015 - 18:27 | 6360624 Nobody For President
Nobody For President's picture

But the Fed doesn't have the bikini babes as passengers, only sheeple.

Mon, 07/27/2015 - 16:10 | 6360134 Kaiser Sousa
Kaiser Sousa's picture

all day long they attempted to levitate the Dow to avoiid the forbidden 1% loss....the volume was low all day but in the last 10 minutes of trading it went from 50m shares trading to 110m....

this is what it looked like....

http://www.livecharts.co.uk/MarketCharts/dow.php

yeah...right....

Mon, 07/27/2015 - 16:42 | 6360296 saints51
saints51's picture

Bank on that shit. Take the profits and stack. Play their game and know when you lay your head down to sleep, its you who is shaving points of their large orders.

Mon, 07/27/2015 - 19:36 | 6360839 Sages wife
Sages wife's picture

Precisely. Delayed gratification is severely underrated.

Mon, 07/27/2015 - 16:10 | 6360137 irongator
irongator's picture

Turn down for what!!!!

Mon, 07/27/2015 - 16:11 | 6360146 Seasmoke
Seasmoke's picture

Wow. There is nowhere safe to go !!!!!!

Mon, 07/27/2015 - 16:17 | 6360177 Rainman
Rainman's picture

say what ?? .... even when everythings is a dip to be bought ?

Mon, 07/27/2015 - 16:28 | 6360226 freewolf7
freewolf7's picture

> btfd (normalcy bias)
> sell the descent

Mon, 07/27/2015 - 17:06 | 6360380 Salah
Mon, 07/27/2015 - 16:26 | 6360215 irongator
irongator's picture

Mason jars are safe!

Mon, 07/27/2015 - 16:26 | 6360218 cro_maat
cro_maat's picture

I hear the ISIL camps in Syria are very safe with US supplied air cover, ammunition, guns, humvees and USO shows starring John  (Forrestal) McCain, Vickie (Cookies for everyone) Nuland and Lindsay (Nuke Charleston) Graham.

Mon, 07/27/2015 - 16:13 | 6360162 One And Only
One And Only's picture

Above 300dma so it's bullish.

Mon, 07/27/2015 - 16:14 | 6360164 Keltner Channel Surf
Keltner Channel Surf's picture

“Tie a Yellen Ribbon  (‘Round the Ole Oak Tree)”        by Tony Orlando & Dawn

I’m buying gold, I think it’s time
But I’ve got to see stocks ramp just one more time
If you received my letter tellin’ you the bulls might flee
Then you'll know just what to do, if you still love Keynes
If you still love Keynes

Whoa, tie a dovish ribbon round the ole oak tree
It's been eight long months, we need more QE
If I don’t see a Yellen ribbon on the ole oak tree
I’ll stay in cash, start to Fed-bash, put the blame on thee
If I don't see liquidity dripping like dew from that tree

Taper survivors, pity me
‘Cause all the bears are laughing at my plea
Like I’m in a Turkish prison and a blue whale gulped the key
A small glass of Fed ipecac will surely set me free
Must I say ‘pretty-please’?

Whoa, add some dovish code words to the FOMC
It's been eight long months, Fisher’s retired for three
If you won’t carve Keynes’ likeness on that ole oak tree
I’ll make a big fuss, forget my toothbrush and stop my spending spree
If I don’t see Bernanke PEZ dispensers instead of leaves

But . . . now the whole damned world is jeerin'
And I can't believe I see
100 Milton Friedman Fatheads on the ole oak tree
I’m goin’ home !

Dawn {backing vocals}:   Yellen’s climbing up the ole oak tree
Look – she’s hiding there amongst the leaves

Mon, 07/27/2015 - 16:14 | 6360165 Callz d Ballz
Callz d Ballz's picture

The shafting came in the form of a grain of rice, time for some Zimbabwe action.

Mon, 07/27/2015 - 16:15 | 6360171 vq1
vq1's picture

Weeee go faster, this is fun!

and im not talking about the boat. 

Mon, 07/27/2015 - 16:17 | 6360179 DetectiveStern
DetectiveStern's picture

Could it be on like Donkey Kong tomorrow?

Mon, 07/27/2015 - 16:19 | 6360187 HonkyShogun
HonkyShogun's picture

It'll be on like Yellen's thong.

Mon, 07/27/2015 - 16:44 | 6360303 skipjack
skipjack's picture

*eyebleach*

Mon, 07/27/2015 - 16:59 | 6360360 HonkyShogun
HonkyShogun's picture

Sorry. Not sure why I did that...

Mon, 07/27/2015 - 17:42 | 6360495 Supernova Born
Supernova Born's picture

I didn't know Depends successfully engineered a thong style.

Will wonders never cease?

Mon, 07/27/2015 - 18:03 | 6360557 HonkyShogun
HonkyShogun's picture

Congratulations on taking that to the next level!

Mon, 07/27/2015 - 18:32 | 6360644 Implied Violins
Implied Violins's picture

Thongwater. What you get when you pit both ends against the middle.

Mon, 07/27/2015 - 17:10 | 6360399 Countrybunkererd
Countrybunkererd's picture

You need to provide mind cleansing items when you put images into our mind's eye that are so utterly disturbing.  But yeah, it is, or isn't if the PPT of the USSA buys everything like they did in the final minutes today, or makes selling illegal.

Mon, 07/27/2015 - 17:14 | 6360413 Countrybunkererd
Countrybunkererd's picture

You need to provide mind cleansing items when you put images into our mind's eye that are so utterly disturbing.  Or just poke it out when done.  But yeah, it is, or isn't if the PPT of the USSA buys everything like they did in the final minutes today, or makes selling illegal.

Mon, 07/27/2015 - 16:18 | 6360180 Excursionist
Excursionist's picture

The losses among gold miners' equities was just plain bizarre today.

Mon, 07/27/2015 - 16:23 | 6360197 BoPeople
BoPeople's picture

Tin disconnected from copper. Someone propped up tin.

Mon, 07/27/2015 - 16:26 | 6360219 brainlpb
brainlpb's picture

I personally believe the U.S. Americans are unable to do so because, uh, some, uh...people out there in our nation don't have the interweb, and, uh, I believe that our education like such as South Africa and, uh, the Iraq everywhere like, such... Remixes are always better: https://www.youtube.com/watch?v=9hpEMSASqqM

Mon, 07/27/2015 - 16:32 | 6360243 Make_Mine_A_Double
Make_Mine_A_Double's picture

Where's the Chinese Deer picture?

Mon, 07/27/2015 - 17:23 | 6360442 Not My Real Name
Not My Real Name's picture

Patience, padawan. Patience.

Mon, 07/27/2015 - 16:35 | 6360260 Gringo Viejo
Gringo Viejo's picture

McHale got fuuuuked up.

Someody get the Skip anther Bud!

Mon, 07/27/2015 - 16:44 | 6360306 saints51
saints51's picture

Repo man coming for shale investors. Better hide your kids and wife.

Mon, 07/27/2015 - 17:19 | 6360429 Soul Glow
Soul Glow's picture

everything is awesome

:)

Mon, 07/27/2015 - 17:19 | 6360430 gatorengineer
gatorengineer's picture

unfortunately Gold is going to Get severely monkey hammered.  I will be buying at 1000 and 100 increments less till I am all in.  I figure it bottoms at 600 and changes.  those paper gold hedges will unwind quickly with China.

Mon, 07/27/2015 - 17:47 | 6360510 knukles
knukles's picture

Everybody was having fun 'till the nukes went off

Mon, 07/27/2015 - 18:03 | 6360560 Debugas
Debugas's picture

We've been doing so good...

Mon, 07/27/2015 - 18:08 | 6360573 Paracelsus
Paracelsus's picture

Boat Skipper looked amazingly like bald bad guy in the movie "Ronin".

Let's see: China very tempted to dump Treasuries,or swap for shiney stuff? BAD.

               Someone highly levered on Wall street takes a DOUCHE on frozen Chinese shares? BAD.

               Someone somewhere's takes a DOUCHE on long oil pricing rising,or staying above $75 bbl? BAD. 

               Someone somewhere's takes a DOUCHE because they doubled down on Chinese sharemarket?BAD.

               Major real estate BUBBLE in Australia,Canada,West coast USA will soon implode,with CTRL-P next.

               Ponzi of FED loaning big money quietly to Belgium to buy UST's and prop market up? BAD. 

               Price discovery not allowed allowed anywhere on Planet.So no true calculation of RISK because

                we "can always get a bailout" attitude (and no prison terms outside of ICELAND!). BAD.

               Puerto Rico,Venezuela,Greece,Spain,Portugal,Japan still not anywhere near fixed.  BAD.

               2008 was a while ago.We have kicked the can seven years now.And GOLD is being hammered??

Mon, 07/27/2015 - 18:23 | 6360612 Paracelsus
Paracelsus's picture

  Apology to the late Stanley Kubrick.

 

   "Does this mean Anne Margaret is not coming?!"

 

Tue, 07/28/2015 - 02:14 | 6361928 Kprime
Kprime's picture

Houston, we are flirting with gimbal lock.

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