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S&P 500 Crashes Near 2,000 "Maginot" Line - Gives Up All Post-QE3 Gains
The carnage continues to roll around the world as Asia and Europe react to US weakness which reacted to China weakness and now US is retumbling on fresh China weakness as the global carry trade unwinds across every asset class...
S&P continues it plunge...nearing 2,000!
S&P joins Small Caps, Dow, and Trannies red post-QE3...
Charts: Bloomberg
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wait??? What about BTFD?
http://www.denk-bubbles.com/btfd/
But, of course the Fed will be raising rates next month.
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!
That's why the market is crashing now you mook!
Cause the Feral Reserve will raise rates soon no matter what!
Yeah, this is the standard "market" reaction before every Jackson (a)hole symposium. Wonder why..................... There is also another standard market reaction a month or so after. You all know how this goes.
Old Yeller been shot?
viva la francis_sawyer
The copious amount of fiat money printing by central banksters has done nothing but prolong the pain. A global correction is coming, whether they like it or not.
http://schiffblog.blogspot.ca/2015/08/why-us-dollar-will-collapse.html
still well short of a 10% correction.
Wait til next week for that.
Kev' has a lot og VIX to crush. Friday is a nice low-volume day for Fed/PPT/Citadel levitation
BTFD very clever - until it's not...
Someone should make a scene with Captain Broccoli as Darth Vader going "Nooooooooooo!"
PPT baby.......there it is.
QE4 coming right up. The question is...will it work?
Didn't realize the Hourly Stochastic could go negative.
Nascent RUT bounce attempt starting, wouldn't be shocking for machines to make it back to Unch or even mid-candle from Thurs' Daily bar before any 2nd leg, if any, develops. If they can't, HFTs might throw in the towel, if this is possible hexadecimally.
Looks like half or so of yesterdays RUT puts were either excersised or just closed...that leaves quite a large OI near the money on the put side (? is if that is dumb money or smart that hung on overnight)...wouldn't be surprised to see MM's go after a 117 close if that was dumb money that stayed in. If so likely a good chunk of that volume was excersised overnight to cause another leg down at the open and more opportunity for picking up RUT cheaper.
The flip side of reading those tea leaves is that is smart money and we are going lower or insurance policies are about to get redemed this weekend on some botched long positions. Either way I read it we are due for a pop soon unless the apocalypse is now. GL
Also, no one wants to let me cover my short calls in TNA at what I consider a reasonable buy to cover (for an expiry friday) ... they were 5$ out of the money at one point this morning and the spread is still way too wide.... so someone has some faith in a rally today. Might be misplaced faith, but not alot of motivation for long call holders to close out. Looks like I'll just let them ride into the close and expire worthless on the buyers unless we see a miracle on wallstreet (stick save)
Makes sense, that level (117) is actually where I thought I'd feel safe re-shorting today via TZA after it horses around, traps more shorts, and pushes above Unch, probably not till 11, then another ride down to touch or pass the lows before rebounding to your predicted level. The other possibility, which leaves me dry, would be a move right now to the lows, then a slow bounce all day up to 117, just not sure I want to get long without a huge volume pin-bar hourly candle. Happy trading
I hear ya...I'm sitting on my hands until we either get a more inticing capitulation flush or get well over bought again. It is way too dangerous to be going either purely short or purely long here. RUT has a way of breaking hearts in both directions. Have the bull call spread in here and will sell against the long side weekly for the next month but not going unhedged in either direction right here, especially with the elevated premiums.
Agreed, though perhaps I was a bit too conservative, had a 1/4 posn waiting to short near Unch and hesitated, looks like I coulda got 1 1/2 pivots or more, but you know big gap days for pure daytraders like me are often harder, not easier, to trade given the volatility impact on stop placement. This is fun to see, but trading inside the Daily Keltner bands is far safer for my methods.
So, what will it be.
The Fed: "We still hike in September and let the markets decide."
The Fed: "We can't let the markets crumble, bring in QE4(or QE-infinity)".
These are basically the only two questions one needs to ask him-/herself.
In case of the latter the question you need to ask yourself is; will the markets buy into another QE as something positive or will it speed up loss in confidence?
I'll answer a question with a question. When the previous QEs were initiated, were all the other markets in the world in full meltdown mode, and was everyone devaluing their currencies, and had their central banks completely failed to stop the implosion? This time IS different.
Yes, but the solutions remain the same, as if they have a plan they will stick to no matter the consequences. In a dynamic environment such as the one we are experiencing, a little flexibility can go a long way.
That's too reasonable, isn't it?
so the question falls eventually to my last postulate, whether anyone will buy into those solutions that clearly haven't worked.
To answer all the questions in your query, the answer is a big no. So yes, as I replied to one of the other commentators further up, I think this time is very different from any other time.
QE then hike the next day.
Come on then........Just a flesh wound
Is the PPT on vacation?
I notice a pattern. When the markets or currencies roll over and start to make a curve that's when the gov't intervention starts. If this is right S&P won't have much if any loss by the end of the day.
Also get ready for something to be kicked out Sunday night to prevent the straight downness.
You mean a new PM smash?
Second chance is coming up soon. Short gold, buy USD or buy S&P. They should ensure a 45 diagnal line shows up. Otherwise it's straight down. They don't have a choice it must be ramped.
I'm looking for rebuy on USDJPY @ 122.475
Why would you go long USD if you are implying that the FED will ease? The only reason USD has been strengthening lately is due to anticipated rate hike...which many now fear will not happen after all.
Gold has already been massively shorted and suckers fell for all the negative news when gold hit 1080 mark. Everything in the media screamed that gold was a short of the history. Hardly anyone praised the thing. Of course, what happens at these stages? The opposite. Reminds me everyone screaming the crap out FB(even bankruptcy). FB hit ATL of some $17 and turned. After that it has gone 5-6x and never looked back.
Buy S&P: If you've spent time reading the news you must have noticed that even QE-enthusiasts are starting to question the potency of QE. So, how much of an effect will QE have this time around? It doesn't seem to be working for the Chinese...
well..I know for a fact that this time it may indd be different!
The one underway or another?
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Oh to be a fly on the wall of the Eccles building these days. Bet a lot of f-bombs are going off
Here comes the ramp....wow. what a joke.
Just one of those departed feline rebound things...or something like that
I covered many short deltas on the open as soon as the options tightened up through outright closes and hedges.
Everyone knew the bounce was coming BTFD you will get another little chance maybe.
I gotta raise for ya. I'll call your corrupt CEO and raise you two dishonest accountants. I'm not bluffing. I swear on a stack of Easter Bunny books.
I would say it definitely has broken the support line from the 2011 lows. Something is different this time.
"Anyone?...Bullard?...BULLARD?!!"
buh-bye 2k level hello 1 handle
This market is going down, but not straight down. It will zig and zag all the way down on purpose. The FED intends to fuck every single small time short.
They can't keep the market up anymore, but they can still punish their critics, and make money for their friends.