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"Markets In Turmoil" Dow Suffers Worst Streak Since 2011, Yield Curves Collapse
Nail-biter... or Cliff-hanger? (Stallone is The PPT, the girl is the market, the carabiner is The Fed, the guy in the other chopper is CNBC)
* * *
Post-Payrolls reaction...
Despite reassurances that a) rate-hikes are priced-in, 2) rate-hikes are bullisher for stocks than rate-cuts (why would The Fed raise rates if everything was not awesome?), and thirdly) buy the dip! It appears the rising rate-hike probability is 'coincidental' with markets turmoiling...
But don't forget...
Flashback Friday! http://t.co/KXtCoypZ8Z cc @jtcrombie @zerohedge pic.twitter.com/XMq9jc2ZoO
— Rudolf E. Havenstein (@RudyHavenstein) August 7, 2015
Equity markets in turmoil... Small Caps broke...
And Futures show the big drops...but Europe-based drift higher...
- Dow down 7 days in a row - first time since Aug 2011
- Dow down 800 points in 3 weeks - worst run since Aug 2011
Note - Death cross (50DMA crossing below 200DMA) looms...
The S&P was held above its 2014 close and the 200DMA (2073) was very aggressively defended... thanks to a VIX clubbing...VIX ended the day lower!!! bwuahahahah!!!
The ramp effort broke the markets...
NYSE's direct feed clock just went whack - slowing dropping 10,000 micros over 15 minutes: pic.twitter.com/pTkuSg2kYj
— Eric Scott Hunsader (@nanexllc) August 7, 2015
- Biotechs down 9.2% - biggest weekly drop since Aug 2011
- Media down 8.4% - worst week since Aug 2011
- Energy down 2.7% - down 13 of last 14 weeks
- AAPL down 5.1% - worst week since Jan 2014; worst 3 weeks (-11%) since Jan 2013
Catching down to credit...
VIX up 19% - biggest weekly jump since Jan 2015 before the gapping effort down at the close to rescue stocks...
In Bond land...
- 2Y Yield rose 6bps - biggest jump since June 2015 (near 4 year highs)
- 30Y Yield down 5 of last 6 weeks (40bps biggest drop since Jan 2015)
- 2s30s Curve down 14bps - biggest weekly flattening since April 2013
- 5s30s Curve down over 9% - biggest weekly flattening since Sept 2011
The Corporate (IG and HY) Bond market is not happy...
- HYCDX +40bps in 3 weeks - worst run since Dec 2014, highest risk since Dec 2014
- HYG down 1.25% to lowest since Nov 2011 (worst 3 week run since Dec 2014)
Commodity Carnaged...
- Crude down 7.0% - down 6 weeks in a row (28% drop) to 5mo lows
- Copper down 11 of last 12 weeks - lowest since July 2009
- Silver Up 0.6% (before post-close slide) - best week in 3 months, breaks 5 week losing streak
- Gold could not hold green - extends losing streak to 7 weeks
But not everything was down...
Note that Oil and stocks have become highly correlated once again...
As Crude was clubbed back to a $43 handle close...
Ironically, FX markets were actually relatively quiet (at least in the majors)...
Although EM saw some pain (from Ruble to Real...)
Charts: Bloomberg
Bonus Chart: VIX under 14 and CNN Fear-and-Greed Index collapses to 10!!
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We have the usual PPT late Friday afternoon stocks ramp up. They also squashed the pm spike as expected. We can't have stocks down too far and pm up for the weekend. Have a good weekend!
exactly...
DTTM...
death to the moncyeChangers....
fucking joke.
Where's the deer?
Check out my clock bitchez:
http://itsalmo.st/#shemitah
http://itsalmo.st/#timefortheshemitahzhreaders
Thank dog for orange juice.
http://finance.yahoo.com/news/blue-cross-raises-rate-hike-sought-afforda...
"Forward!"
The 35% increase is a way of punishing Republican states that didn't create exchanges to subsidize the industry. More cancellations are coming.
Go on, I double dare ya'. Just raise rates. Whathtefuck, let's go to 5% since everything's fabulous.
Don't worry, shit'll buff out.
"Affordable" and "Care", ROFLMAO!
Sure, if you're talking about inurance company executive and management pay!
~"Thank dog for orange juice."~
And vodka.
The fix was in: the Duke brothers cornered the frozen orange juice market!
Janine Turner
,, and once we know this and ACCEPT it then we trade it to our advantage instead of screaming things like 'this is total BS' and 'Fuck you Yellen' as some on here do every time we have a down day that ends with a ramp (not including your goodself in that category of course).
I tried the other day and you would of sworn I was the FED itself. Lots of haters in these woods.
yep, so long as my vendors accept those FRNs what the fuck else can I do?
Now, once the supply lines break in earnest, that's another thing altogether...
the trade of real good and service is the only thing that keeps us from killing each other.
same as it ever was...
@traderone, right on guy. Have to trade what the market gives you instead of demanding that it does something else.
Mark Douglas explains this very well.
https://www.youtube.com/watch?v=GhKJ9P3agRc
Happy trading
The PPT alarm clock went off right on time at 3:30 PM.
So, it seems the winning strategy is to buy at 3:31PM. "BTFD" is now "Buy After 3:30".
Fake Fucking bunch of Fucking BS.... should have dropped a LOT More!!!!
Yawn. It's Miller time.
“Round-Tripper” from “Day Tripper” by The Beatles
Got a good reason for shaking your trade screens about
Got a good reason for punching your Bloomberg screen out, now
It was a round-tripper, two-way ticket yeah
It took me so long to find out, but I found out
Dow's a big teaser, she took me half the way there
SPY's a big teaser, she took me half the way there now
It was a round tripper, a two-way ticket yeah
It took me too long to find out, then I got out
Tried to buy her, she only plunged then came back
Tried to fade her, but she only preyed on weak hands, now
It was a round-tripper, cash vaporizer, yeah
It took me so long to get out, that I got routed
Round-tripper, Round-tripper yeah
Day trader, Day trading, yeah
You need a clip of something like Airwolf with a drunk bloated Ernest Bourgine falling out the helicopter after one too many boilermakers. That's kind of how of I picture the Fed - comotose stupor from money printing.
I picture a room of retards sitting in a circular group of bathtubs laughing at their farts bubbling up from the water.
That's Podesta's Center for American Progress. Soro's pays them to do that.
Vix closing in the red really was hysterical. Jesus.
Why? there is no volumn in the "market"...
I can't imagine this will persist much longer. Either they'll paper this over or allow the market to send a "strong signal" that a rate hike is a bad idea, thus giving them a "data-driven" excuse to put off a hike until Bernank + ???
It's always a good week when the DOW gets kicked in the nuts IMHO.
Yeah....VIX closing red is all you need to know for today's "market"!
TOTAL
FUCKING
RIDICULOUS
BULLSHIT!!
Interestrateincreaseitis,
Everything feels like its in slow motion. Drives me crazy !!
"Let's do this" is my motto.
I present to you, Slo-Motion by Marilyn Manson.
https://www.youtube.com/watch?v=dppCCl2MZAM
This is my beautiful show
and everything is shot
in slo-motion
This is my beautiful show
and everything is shot
in slo-motion
SLO-MO-TION
Pump in the laughter
of dead-audience applause
Don’t we wish
that we could feel something
more than
hate and morbid panic
DIE! DIE! DIE!!!
But I've seen this play out numerous times over this insane six year bullshit run.
This is very reminiscent of the pre-Bullard collapse of last fall. Who will save the market and drive it up 20% like last year?
If I hear the word correction, I'll explode.
A CORRECTION IS AN ACKNOWLEDGMENT THAT A PREVIOUS ANSWER OR COUSRE OF ACTION WAS WRONG. BY CORRECTING YOUR PREVIOUS ACTION, YOU HAVE DECLARED THAT YOU MADE A WRONG MOVE. TO CORRECT YOUR ANSWER AND THEN RESTATE OR RE-ENGAGE YOUR PREVIOUSLY KNOWN WRONG DIRECTION IS ASININE.
If you are driving on the wrong road and find out you are going in the wrong direction, would you turn around and go in the right direction for two miles and then turn around again and restart in the wrong direction and end up going another 100 miles?
The real value for this market is ZERO because most of these "corporations" are nothing but zombies. Any real measure of accounting would prove them to be bankrupt.
When the markets are as choppy as this, and have been for some time now, you could be sure that the distribution period has been on for some time. The question is, how long till smart ones are out of the markets and there are no more buyers to push the prices further up.
"no more buyers" -- so long as central banks exist, have governments by the balls, and are practicing fractional reserve banking (no new collateral requirements for new money creation) there will always be a buyer.
This is the fucking problem, a monetary system completely detached from reality.
this time it's Global Weimar.
Wait! Which ones is realities?!
Fuck, knew I should have stocked up on orange juice..
Is someone snapping up those "bargains" late in the day or are they letting this deflate in an orderly manner to avoid the floodgates from opening...
I would note that the original Rudy Havenstein had the good grace to die about the same time as the Reichsmark finally collapsed in the late Fall of 1923.
You following this Janet?
I would note though that Gideon Gono is still the bank chief of Zimbabwe.
Interest Rates Are Already Hurting Mortgage REIT ETFs - And this one in particular
7 August 2015, by Eric Balchunas (Bloomberg)
http://www.bloomberg.com/news/articles/2015-08-07/interest-rates-are-already-hurting-mortgage-reit-etfs
OT
I need help, have a look at
http://www.bepefo.de/Politik/Collateral
forgerie? real?, help me zh brothers and sisters.
Dont worry the Vampire Squid is in total control
http://finance.yahoo.com/news/goldman-sachs-expects-stock-market-1400001...
Goldman Sachs has a really specific view on the stock market in 2015.
In addition to having a year-end price target of 2,100 for the S&P 500, Goldman sees the benchmark stock index rising to 2,150 at midyear before declining as the Fed begins to raise interest rates in September.
Additionally, the firm expects stocks to fare poorly over the next six weeks, with the firm's sentiment indicator at 100, indicating a "high probability" the S&P 500 will fall by 3% over the next six weeks.
Now, we have a look at where Goldman sees the market going over the next year: it looks as if stocks will go down, then up, then down.
Get ready.
View photo
.
Goldman Sachs
I wouldn't buy any of this garbage.
Carter Worth summed it up (four times) on the 1/2 hour of Options Action tonight on CNBC: "Something is wrong here!" Ya think?
Devil's advocate here: if the market sentiment is "extreme fear," doesn't that suggest that perhaps it's the time to buy?
It seems like everyone is predicting - and anticipating - THE COLLAPSE. If everyone is expecting the collapse --- maybe it won't actually happen?
Many thanks for the exceptional recaps, Tyler.
These charts made me dizzy as if I were on a roller coaster ride. I guess we should get ready for STHTF.
Z/H chart porn is by far the best. :-D
Yield yield what is yield?
CNN F & G Index. ROTFLMFAO. Clueless.
The world would be such a great place if just everybody loaded up on guns and ammo. There are no problems you can't solve with lead (or silver) bullets.