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"Black Monday" - Shanghai Composite Goes Red For The Year, Wiping Out 60% In Gains, 2000 Stocks Limit Down
Black Monday! #ChinaStocks join global panic selloff, dive 8.5%, worst since Asian financial crisis at midday pic.twitter.com/nLHoFf34bV
— China Xinhua News (@XHNews) August 24, 2015
FACTS: By midday break, nearly 2000 stocks down 10% daily limit in Chinese market -- only 13 stocks up; Shanghai benchmark index down 8.45%
— George Chen (@george_chen) August 24, 2015
But... but... pension funds are "allowed" to buy stocks.
Judging by the first few minutes of trading in the first thing to open this evening on the mainland, the CSI 300 Index Futures which immediately tumbled by 4% to 3340, China's attempt to deflect attention from the fact that it did not do a 50-100 bps RRR cut is not doing too well.
Some other indicative levels which are in line with the CSI:
- Shanghai Composite to open -3.8%, some 130 points below the 3,500 "hard line" support level below which it is a nothing but air back to 2000
- Shenzhen down 4.3%
- ChiNext down 5.1%
That said, we expect the National Team to not give up without a big fight, and forcefully step in any minute and do everything in its power to prevent the resultant plunge in the Shanghai Composite which is set to open shortly, or else SHCOMP 2000 beckons, and with it lots and lots of social unrest.
* * *
Update: Shanghai Composite now down -5.7%
And the 3,500 support is now gone.
Update 2: Shanghai Composite crashing, now down 7%
Update 3 and final: SHANGHAI COMPOSITE INDEX ERASES YEAR'S GAINS
Not a pretty picture at all...
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China's mistake is publicly stating the levels they want the market to be. They need to be sly like the US and not publicly say they are involved in the stock market.
They know...they've always known but in the meantime they've transferred $4Trillion to themselves and their buddies...that's called "taking advantage of a crisis they themselves created"...A$$holes!!
Its gonna take a few hours to hit 40.
Not too long... We're almost at 10.
"Comrades! To your computer screens! The barbarians are at the gate! Buy like you've never bought before!!!" Wang Shi Krammer
Boo wa! Boo wa!
lol
If only I could keep the blood splatters off my popcorn...
You've obviously never been to a Gallagher show.
https://www.youtube.com/watch?v=UBfoMgllphs
It's over.
Ha, it's barely begun.
True that.
Bet they just turn off the power. Shut her down.
They can't shut the power down. The bitcoiners will get mad.
You know what they just might do that. Central planning at it's finest.
They didn't shut the power off.
They got hacked.
..& they promise to spend a ton of somebody else's money looking into it just so they know who did it.
Ashley Madison: turn off the lights!
Tough to say how much of this early decline in Asia is just follow through of Friday's puke here in the good ole U.S. of A.
they just cut crude's balls off 39.63
What would Suze Orman do?
Blow Jim Cramer? oh...wait..
Suze Orman is a very civilized and proud Jewish lady. She does not go down on anyone.
..except Mr Yellen.
Every single jewess I have ever known was hungry for crown.
Most of the married ones, too...
Must teach it at synagogue or something...
Some red wine and then carpet pie
She already said she was on the sidelines for a year...
Probably having a hip replaced.
-Not that it should inhibit her bone habit.
Flee the country.
Shanghai Composite Index down 5.6% after being down 6%
https://www.google.com/finance?cid=7521596
Has Citadel been allowed to resume trading in China?
If Dow gaps down 4%, it's -658 at the open.
Se can only hope
More software upgrades tonight?
It's going to be a long sleepless night for some, but not many.
The view looks great from over here on the sidelines...
Ring-side isn't neccessarily the best place to be!
Something large and heavy could fall on you.
But Michele O. is in a plane with Trump right now...
Blood spatter and sweat carry all sorts of communicable diseases.
Miffed is sleeping I'm sure.
She's gonna blow
BTFD, China is puking unicorns!!!
It's not a dip. This time it is a cliff!
It's a dip eventually...
Yeah...she's gonna blow Cramer, like he said....
A guy can hope
Let the real bloodletting begin...
http://www.bloomberg.com/markets/stocks/futures
Standard Disclaimer: Have they opened odds in Vegas on where the bottom will be yet?
I thought reggie already found the bottom and has been pounding it.
On with the show, This IS IT!!
buyer's have disappeared on the mini nasdaq - there is no viable covering or stops possible
Cowardly traitors, each of them.
They ( Shanghai) 15-20 minute lag. Opened -134 3.8%. Just jumped to -4.8%!
If 3500 is a major support, this is going to be ugly.
-5.96%
-7.07%! Look out below!!!
They got this.
I'm all for a 22% Gap down and be done with the games and then some follow thru, where's waddell/reed....err Fatfinger, or is it Goldfinger I forget.....
:^)
US futures now down 156. Shit is definitely hitting the fan. http://www.cnbc.htthttp://www.cnbc.com/pre-markets/p://www.cnbc.com/pre-...com/pre-markets/http://www.cnbc.com/pre-markets/
Crazy indeed!
Looks like Black Monday is at least a possibility. Time for a stock exchange upgrade to close the markets.
Dow 30 Futes hat tip previous ZH poster.....
http://www.investing.com/indices/us-30-futures-advanced-chart
(-151)
why did it Stop?..... is that all, heck this aint even worth staying up for <sigh>
3000 shares a minute at night back about 15 minutes ago on the /es, it was on a long red candle. its real volatile but when the volume eases up it floats up. down 17 as we speak. hang seng 851. nikkei 450 down. crude below 40. seems like the ppt is already working on our end. all the chinese investors are having to sell at a loss or sell for margin call. if china keeps on dangling and europe is bloody it could get real ugly come daybreak.
For those who weren't already all out, the time to get out may have gone and passed Friday at 3:59....
Bloomberg imploring: DON'T PANIC. Definitely PANIC, in other words. Wow.
He who Panics first, Panics Best..
who was it that said that?
vix up 46.5% though! all is well.
But ... but ... this can't be happening, cuz Joe Terranova just got back long when SPY bounced from the daily Keltner, after correctly being bearish close to recent highs. Seems like a nice guy, I suppose, perhaps he was successful decades ago, but appears to have zero savvy for current, post-algo markets. I guess they call it "Fast" Money because if you follow their advice, you won't be eating very well.
The pboc set this whole thing up. They just approved for Pension funds to trade equities. So what happens, the people take the loss and the government shorts the market. FAIRLY SIMPLE IF YOU ASK ME.
I'm gonna have a hard time sleeping tonite, and I don't even have a dog in the hunt. Such excitement!!
C'mon Monday Morning!!!
JUMP YOU FUCKERS!!!
Think I'll take some shiny to bed with me tonite. Where the hell is my Scuba gear, anyway?
Just stared and watched Shanghai plunge from -7.5% to -8.0 in about a minute. Came over here to this post and in that time it's pressing up against -8.5%
Looks like I picked the wong day to quite sniffing grue.
I've been waiting for the classic bloomberg bs headline seen almost every day at 3.30pm for the last seven years: "markets shrugged off negative data to recover losses in late trading." Haven't seen it since about mid last week.
Let's see if this translates into another 500+ down day for the DOW. If it does, watch out below. Keep an eye on gold. If this blowout continues, we could see gold above $1200 by the end of the week. How high will it go before gold miners catch some real bids? Probably not much. This could be the next great short squeeze!
"That will be cheap by sundown..."
ROFL 'gold $1200'
one of the better real time world indices http://www.investing.com/indices/major-indices
there is only one that is green, red as far as the eye can see!
If a stock market crash comes to fruition, are we allowed to blame it on Obama? Or is it still Bush's fault?
It will always be Bush's fault.
Number One: Because it passes the blame for any results/tragedies/crisis onto Bush.
Number Two: Because its true, Bush grew the state just like Obama.
Hillary wiped it, like with a cloth. Or something.
Well deserved. Finally the FED induced fucking bubble is bursting. Where have those idiot pundits gone now? LOL.
Kudos to those who shorted the market in last week.
Shazbat.
Wamming speed....
Thith thucks ath...
And socialism can't fix that?
So, it's hitting the fan. ZH has been there since 2010ish. Back out the Fed goose job and you have a hand full of brown stinky stuff. Everyone on CNBC is surprised. What a damn mess idiots create.
fww: cell phone sales in China have topped out; fewer next year = bail on AAPL unless you want your nuts cut off; so what happens to our indexes w/o the great 'core?' Ever see grown men cry?
just busted 50.25 with 6000 shares a minute took it down to 1946 in one minute candle. wow
now down 8.4%
Holy phuck! Can't wait to see the orange faced bastards on CNBC. Can't wait and see the fed try and fix this!
Oh No, this goes way beyond the Fed, CNBS will be rolling out Fanta Orange herself, Ms Christine LaHaggard to spin this latest round of market collapse...
Just love to see the Orange people suffer !!!
Your Green vs Orange thing is raycist!!
So far tonight has been better than any Xmas as a kid. I feels like this marathon is almost over. At the end, instead of a ribbon, you get to tap dance on Mr Yellen's lifeless body. Time to crack another beer!!!!!!!
I know, and I just came home from a preseason NFL game complete with singing, fireworks and touchdowns. What a freaking encore this is.
Looks like the Chinese are getting in the game in Shanghai. It's rocketing up to under -7%. Oops. Never mind. Went back to check and it's diving back down.
Looks like someone's gonna have to borrow those suicide nets from Apple before this is over. Yes, we have no banana vendors.
could see a lock limit down on the /es. havn't seen one since 09. crazy it just puts no movement candles on the chart, unless it goes up. use to be 10% and that would be down 195. but i think they may have adjusted it.
any of you geniuses know the exact number?
Breaking news in Shanghai from my friend who lives 2 blocks away from the stock exchange:
https://www.youtube.com/watch?v=cO1q3HwB0y0
Wow, no dead cat bounce here. It is going to hit the pavement at light speed and leave a smoking crater.
Malicious short sellers! Lol
Shit it is stalling out right now, I was really enjoying that. Might be a good time to go hit the cash machine again, buy some beans and rice and some 10,000,000 sunblock.
Oh, here it goes crude and Aussie now.
its drilling down on big volume, that last one took it down to 1941 on 4500 shares a minute. that kind of volume is rare at night where 400 shares is uncommon. its getting real,
'A Brazillian'.
(any of you geniuses know the exact number?)
Perfect night for the premiere of "Fear the Walking Dead"... grabbing some popcorn.
SSE off 7%, Nikkei crashes through 19,000.
Ok, post your drinks.
I call this one the Kamikaze Market Bomb:
Full glass ice
1 part water
2 parts Irish Whiskey
2 parts Canadian Rhum (the cheapest stuff)
1 part Jager
Popcorn fragments
tincture of gasoline
Confetti made from a torn up fiat bill of your choosing.
Rebel Yellen:
Wild Turkey 101
Ice cubes
Tall Glass
You can figure out the rest from here ...
A Cabernet for regular times and Crown Royal for when the shit gets real.
Dirty Bastard
One Dirty Glass used for the last month.
Chilled Rum, four inches.
12 oz can of MGD as a cooler.
Read and comment on financial porn sites.
What did the Chinese expect? When you pump billions into the market and tons on margin with little fundamentals, or worse, negative fundamentals, it's inevitable ... unless you're The Bernank who elevates the market with ~ $50 Billion a month for years.
However, China's CB is exhibiting extreme self-restraint compared to the fed.
With their massive shadow banking sector, the CB isn't needed as much. Well, until now.
just hit 1933 on 10thousand shares a minute. this is turning into a selling rout
Somebody is trying to catch a falling knife....
Nurse, tourniquet please STAT !!!!
Hang Seng and Shanghai are giving me a boner. DJIA F is like a shot of viagra.
It's three hours and 55 minutes...not sure that I WANT to call a doctor.
-373 Dow 30 8:49PM Mountain
They can't write these articles fast enough..Shanghai down 7.5%!!
8.45 now
Well on the bright side it looks like copper is going to be free tomorrow.
Maybe we can get our solid copper pennies back?
Maybe we can get our solid copper pennies back?
Can't we all just be self proclaimed and heavily armed, very wealthy peacefull munchkins?
They're selling? Then buy, buy, buy! They're buying? Then sell, sell, sell!
You go first .....
SHCOMP just blew right past 8%. Looks like anything not nailed down is getting the shit sold out of it. I can just imagine these farmers that were holding on hoping for something have decided to GTFO.
Houston, we have a problem....
China share slide: Pension fund to invest in stock marketMore sabotage.. in japan
http://www.rt.com/news/313176-tokyo-factory-blaze-airport/
Yep, things are not looking too good. http://www.rt.com/news/313170-russia-china-japan-sea-drills/
Wow, just being anywhere near that fuckin' Haneda Airport seems to be a death sentence.
What the fuck is happening. Is this IT? After so many years of fraud is it finally breaking
Damn, I was planning on sleeping tonight.
China A50 down 8% and CAC-40 minus 7.3% seem to be atop the current downside leaderboard:
http://www.investing.com/indices/china-a50-advanced-chart
http://www.investing.com/indices/indices-futures
Shanghai is down 8.5% mid-day, and Dow futures are down 450. I gotta get me some popcorn, and watch the most predictable crash in history.
I'm gettin' a boner........
Today, it will likely last more than 4 hours...
... and in the distance, all that could be heard was the sound of printers and helicopters...
And pizza delivery trucks at the fed and the whathouse. Hope they gag on the anchovies.
What happened to PPT?
Are they taking a few days off?
Maybe they ran out of coin?
Maybe they are trying to sell what they bought in the past because they realized it was a road to nowhere?
Anyone have a clue?
AWOL
PPT is boarding planes headed for places unknown to escape persecution
SEC shared SpankWire link...
I guess this means Mr Xi and friends are already out of the market.
Hey, it's midnight. I fully expect the PPT to rescue the US market and have a nice healthy zero volume 400 point DOW boner when I wake up in the morning.
Unless this really is a real collapse, but how can the Fed let this happen, unless they want it to happen.
Janet's habit is to let things run for a day or two before stepping in, but this all looks like she's trying something new. Will she or nil she?
So everyone is The Bear now!
Look at the DJIA weekly: there's 2000 to 4000 more points to go to the downside from the nosebleed, fed-concocted 'valuation' levels:
http://www.investing.com/indices/us-30-futures-advanced-chart
Liquidity have evaporated from NQ moving 1 point on 1 or 2 contracts.
CASH CASH CASH! AND HELICOPTERS!
http://www.wsj.com/articles/china-to-flood-economy-with-cash-as-global-m...
There are a number of striking things about the lawsuit. One is that the sellers being sued appear to be Top Rated eBay sellers based in China and selling on eBay.com. Another is that the lawsuit accuses eBay of racketeering.
http://www.ecommercebytes.com/cab/abn/y15/m08/i21/s02
Hard to believe they sell fakes?! Who could have known?
Ya know it had to happen when all those Chinee farmers started buying stock. In 2008 a valet parking guy in Vegas told me to buy stock and how well his stock was doing. I sold all my stock the next day. The shoeshine boy method is still the best.
Guys. Be careful. What they ain't telling you is. ITS NEVER COMING BACK. The are deleting the entire concept of stock trading itelf. We are trully entering a rationed totalitarian one world government. Those with brains already know, markets are going to crash, but the smart ones know...ITS NEVER COMING BACK
I think people are missing the point.
QE was bad for consumption because it lead to higher prices and lower yields ( ie high stock bond prices meant no income on savings).
So now no QE ( if they really want to help consumption)..
1) cheaper oil/ commodities / food ext ( good for consumption)
If they raise rates
2) higher returns on savings
3) higher returns on investment ( ie lower stock prices means better yields from dividends).
So while QE messed up investment returns / consumption
No QE and higher rates will see economy pick up as cheaper oil / food and real returns on savings lift consumption potential.
So if they want slow the economy do more QE drive oil ect back to 100 yields back to no return and fuck the economy again .
Expect supply chain interruptions.
At the clip this is going the FTSE and NYSE may make it a holiday... For the week!
QE supports bankrupt govts and banks .. Bad for investors / savers / consumption..
HELP... Gurgle, Gurgle... Help me chair dyke...Gurgle, Gurgle...Yelleeeeennnnn