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"Black Monday" Brings Global Market Rout, Investors Mourn The Death Of Central Bank Omnipotence
Another day in ignoropia...
And a second clip - because we can - that seemed a perfect analog for mainstream media in the middle of today...
American Molly Huddle celebrates too early & loses bronze medal in world final of 10,000 meters. Biggest #EpicFail ???? pic.twitter.com/AC9iFEuUhj
— Asjad Nazir (@asjadnazir) August 24, 2015
It started in China...
Continued in Europe...
And then catastrophied in The US...
The crash in stocks at the open appeared as much driven by a collapse in USDJPY - JPY carry unwinds - which ripped back and lifted stocks...
Cash indices ripped back off the lows and Nasdaq 'touched' unchanged on the back of AAPL... before it all fell apart again...
As the end of the day loomed, chatter of QE4 (hope) and PBOC RRR Cut (hope) managed to ramp stocks... dragging S&P minis back to VWAP... (on heavy volume)
Some context for the drop today...
Everything is red post-QE3...
Energy stocks crashed, catching down to energy credit markets...which hit another record wide today...
"Inconceivable" - US financial stocks collapse to credit...
Catching up to credit...
Treasury yields plunged as stocks collapsed but as the PPT stepped in and rescued AAPL, so bonds got hit (with the long bond yield soaring to +4bps from -11bps at one point)... then as the weakness re-accelerated, yields plunged... 10Y traded with a 1 handle once again... and 30Y went out with a higher yield
The USD drooped most in 5 months today back to 7 month lows...
Despite USD weakness, commodities were all lower as we suspect margin calls necessitated widespread selling in everything...
Crude was utterly monkey-hammered back to a $37 handle...
One final thing... China opens in a few hours!!
Charts: Bloomberg
Bonus Chart: Blood On The Streets Of The World...
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Fire and brimstone BITCHEZ!
Edit: In one day the muppets get fucked thrice. First with the flash crash in the morning, then the rebound which collapsed from midday onwards, and lastly -- just to really, really rub it in -- the Fed did the usual stick save only for that to collapse 15 minutes later.
Look out cow girls, I got this.
What are inflation expectations doing?
I’m certainly not surprised we saw a huge drop today, nor am I surprised that the PPT was in high gear. I was surprised to see something new. Major discrepancies between the level of the market indices from different outlets at certain times. Shown here.
CRASH AND BURN
... Motherf***er
Burn Motherf***er Burn
https://www.youtube.com/watch?v=CDSOIspSTP4
Is that a dual round trip today of around 3500 points?
I would say short it - but you would not be able to close your position - so fuck it.
Wow, Tyler's chart porn addiction has really deepened with all this market turmoil.
I may have to find another outlet, all this chart porn has left me in a hopelessly excited state...
DaddyO
Was that the fastest dead cat ever, or what?
Oh the Humanity!!!!
We don't live in "interesting" times... we live in insane times. This period of history will some day be looked upon as a period of utter decadent insanity by whomever is lucky enough to survive the coming vortex of economic retribution. I only pray that the instigators of this incalculable lie are brought to full justice.
Don't count on any justice this side of eternity!
History is replete with times just like these. Robespierre anyone?
The best we can hope for is that a large enough contingent of rational, liberty minded individuals can band together on the other side of this epoch and rebuild. Unfortunately, this hope may not occur in my lifetime. The depth and breadth of this insanity is biblical in nature and size. This only leaves room for a solution from a being far greater than our current collective.
My personal belief and bias are bent towards the messianic return and a thousand year peace...anything else pales in comparison as a solution.
DaddyO
The real fun starts with Asian Market opening bells in a few hours. This is better than watching NFL at this point. Wonder if the ChiCom gov will want to kickoff or receive...
I hear ya, DaddyO, but I disagree on the hopelessness of it all. I know I used the word "pray", but in truth... men caused this mess to arise in the first place - by their obsequiesneous and their neglect - so they can surely rectifiy the situation with sound reason and a touch of morality. I know - I can hear the groans of the pessimists - but I do believe in the pendulum theory of history. No matter how debauched people are now - the hardships to come will transform them into men and women again. That is - mentally mature adults. THAT is what is lacking today. Everyone is a child in mind and spirit. Sloth metastisizes from generations of prosperity and a lack of vigilence by the present "adult" citizenry. When that weakness is targeted by a manevolent alien body of usurers and pervayors or vice - no good can come of it. Take heart... nature WILL reclaim the upword path.
I too have optimism rooted in the hope that hardship does indeed bring about maturity. The Great Depression my grandparents and parents lived through did indeed bring about a maturity in my immediate family. That's probably why I hold to a more conservative approach to life, liberty and the pursuit of happiness. I long ago abandoned the "If it feels good, do it, if it feels very good do it a lot" mentality. Somewhere in and around my 25th year, things in life began to take on new meaning. I quit partying like it was 1999 and began to change my circumstance and my family tree in the process.
The overwhelming nature of the current financial apocalypse that looms on the horizon is just too large and engulfing right now to always see the small tree of liberty under the storm clouds...
DaddyO
Liberty requires reasoning and effort. That puts us behind. Most people want the "Big Man" to save them with his superior ideas and intellect.
Was anyone else amazed at the bound-and-rebound? The 1000pt drop at the beginning was impressive but I will say not altogether unexpected. Listening and checking in during the day it was about an 8 or 900 point rebound and then the final slide.
I was asking myself, "Who the hell buys into a drop this big on a magnitude large enough to move the market 800 points?". I know the greater fool theory and I understand individual's cherry picking some good individual stocks but not a wholesale rebound.
All I could come up with are HFT algo's that got past their programming and read the whole market at a "Buy, now!" signal and activated themselves. This would be followed by real human traders going, "Oh, shit!" and quickly trying to reprogram and unwind the trades.
It's a crazy time and nothing makes sense.
I was thinking the same thing - who buys into this?
Only people using other peoples' (or ctrl p) money for sure.
I kept thinking, "what is the cost of this 'rescue' to my children?"
Another CNBC special tonight, should be WWE caliber trash talk.....
Are they gonna drag Krudlow out of the Chelsea gay bars for this one? Oh I forgot he's a fine upstanding Catholic now...
I watched their special last night. Imagine that, financial programming on a financial news network! I don't plan to watch tonight, more useless blather from people who, if they told the truth, "I have no f'ing idea what's going to happen. I've been wrong most times before." would rightfully lose their jobs.
I used to have an international financial news channel on my cable system that was far better than CNBC, but it is no more. I guess people stopped watching/wanting it during the "nowhere but up" fantasy markets. Investing was so simple, just buy moar stocks!!!
Canada has a show, "Michael Campbell's Money Talks." Same kind of bullshit. Two weekends ago I think the message boiled down to "Buy American equities, buy the USD." A week later, you could hear a pin drop about the USD, but "Ohhh, we all saw this (crash) coming." And then they go to some guest who waxes eloquent about how "X could go up, or it could go down, and we'll know because of our proprietary indicators." And everybody has a newsletter or some other damned product to hawk, and Campbell follows them all, hell he doesn't even sleep for weeks at a time, he studies them all so hard, and he's a perfect retroactive trading and investment genius...
Cramer did it again!
What a fudgepacker .. he lectured the 4 viewers tuned in, "not to confuse the market with the economy".
That's all fine and dandy providing another round of bailouts or worse yet, "bail-ins", don't make us pay for the gaming addiction of the white shoes tap dancing on the exchange floors.
He uses frothy rhetoric and circular logic to make a pointless point, and then blames China. WTF. The FED fucked the planet, not China.
"But that said", our belching warehouse of useless information, the Cramer, advises, "to invest gingerly". The Cram is telling his 4 viewers to buy into the lows (can you believe that fucking shit).
Cram boy closes with his message, "not to confuse the economy with the markets" - like both ain't been deep sixed since the 2009 bailout.
We let it go this far. We deserve low-end a-wipes like the Cramer shorting like they're being fed an IV laxative.
Sin stocks and autoparts stores - and 1 oz Mexican Libertads - there is no hedge.
Barclays is betting the FED rate hike ain't gonna happen until spring 2016, Then, the CNBC gaggers threw out that HFTs are playing against each other. Low volum. Fat indexes and a lot of derivatives that may or may not be betting notional principal.
Invest everything you've got in "healthcare" stocks: the only game left in town now is to prey on the sick and the inevitably soon to be sick. Go ahead, go full-on Vampire Zombie and take your profits while your teeth are still sucking at the neck. GO !!!
https://www.youtube.com/watch?v=Z-I8mIljF6I
https://www.youtube.com/watch?v=3b5LsWKxJ_g
The Financial World is Utterly Sick.
My central premise since joining ZH was that we were all going to turn into Japan. As I always pointed out, the only thing not lining up with that theory was a persistent bear market in equities.
What's that? 1200 Dow points in two days? On NO NEW NEWS.
Hey, if you've enjoyed the crash so far you're really going to like the multi-year slow grind lower that follows it.
Its been a long wait for some of us NoDebt.
To see the bulls utterly crucified will be heartwarming to me.
As a dear fellow poster said earlier today:
IT'S. ABOUT. FUCKING. TIME.
it has been a long wait, ive often said the same thing. No big, dramatic crash where everything goes to shit(not that it couldn't happen at some point in the future) but a long, slow slog downwards. Prices for things we need keep going up, of course, and most people have a lower standard of living. Govt debt keeps going up, and eventually the fed will own most outstanding bonds, like the BOJ does now. They will try all sorts of things, but the market will never surpass the highs set on the 'blow off top' which may very well have been the highs we just set. We are already back to end of QE3 levels, proving once again that without money printing, stocks go nowhere but down
Delusion's greatest enemy is truthiness. Truth is becoming more popular if not also more hated, and this will let the air out. People know its all fake but they choose to ignore that fact as long as they think everyone else will do the same. After all, why not when their economic gains are at stake. Reality always wins however and that inevitability is what people hear ringing in their ears.
Cue up the Bataan death march...
https://www.youtube.com/watch?v=uQWdETwFACs
Everyone around me is a total stranger
Everyone avoids me like a cyclone ranger
That's why I'm turning Japanese
I think I'm turning Japanese
I really think so.
-The Vapors-
Do you know what the song is about?
And how do you like your open air prison?
Do you know what your life is about?
Drinking?
the song is about jacking off. Good Lord. Has everyone lost their fucking minds? He squints (no round eye) when he cums... get it?
Yes, I know what the song is about. NoDebt's post put it in my head. I regret making such a frivolous post that ended up just below a comment that linked to the Bataan Death March. I had no idea that post was on the board. My apologies to all.
You are a PARTICIPANT in a Global Battan Death March.
The Cental Bankers and Governments are acting as the Japanese Troops.
You ARE IN AN OPEN AIR PRISON.
And then you apologize..for being subjected to oppression, torture, and possible eradication?
HOW FUCKING WEAK CAN YOU BE?
You do NOT KNOW what that song is about.
I usually use my own words in a comment and not copy and paste, but here is the wiki reference to this song. I don't know exactly what set your ass on fire and start your rant. I was apologizing to anyone who may have lost a loved one or even lived though the Bataan Death March that was forced upon soldiers by the Japanese army. I thought my post's location was unfortunate and hence my apolgy.
From Wiki:
"Turning Japanese" was believed to euphemistically refer to masturbation—i.e. the act causing the man to squint and therefore resemble a Japanese person's eyes[1] or possibly, referencing the British slang word "Jap's eye" (the urinary meatus) and the act of turning referring to the process of masturbation—but the song's author Fenton denied that claim in an interview on VH1. "It could have been (turning) Portuguese, Lebanese, anything that fitted with that phrase. It has nothing to do with the Japanese...The first time the idea of masturbation came up was when we were touring America. It was written about that 'turning Japanese' was an English phrase for masturbation, which it wasn't. Guitarist Rob Kemp went on to say, "It's a love song about somebody who had lost their girlfriend and was going slowly crazy, turning Japanese is just all the cliches of our angst... turning into something you never expected to."
Look. We are living through a Death March.
Look around the globe.
The US Government is killing people...in droves.
It will soon happen DOMESTICALLY.
The Central Bankers policies are created so that the Bankers and Industrialists will PROFIT from this Death and Debt paradigm.
You are in JAIL. It is an open air prison with all of your rights suspended. You have NO RIGHTS according to your dictators and controllers. You are a Tax Slave.
The song is about JAIL. I do not care about the Wiki article.
You had best WAKE UP.
How on earth do you get the idea that I'm unaware of all the points you are making in your post?
Is it because I don't liberally use profanity and all caps in my comments? Perhaps it's because I don't use the command LOOK to start my comments and then make another command at the end that I had "best WAKE UP."
You can color civility "weakness" if you like. I'm done with this thread.
Wow Tall Tom, hope you didn't hurt yourself jumping to conclusions extrapolating MS' comments.
As a long time participant here on the hedge, I've followed your comments and regularly read them in their entirety.
This was not your best effort and you surprised me with the shallow and assumptive response.
DaddyO
Snapping One Off :) Marty
The silicone chip inside her head gets switched to overload...
And he can see no reason
'Cause there are no reasons
What reason do you need to be shown?
Tell me why?
I don't like Mondays.
The Boomtown Rats
A pleasant little song about why mondays suck...
Multi-year slow grind to be preempted this time by a currency crisis -- and then reset.
I cannot see how this is possibly going to go slow. Another day or so and Hedgies will start blowing up.
The only news is for the move there was no volume.
Agreed. Simple non-Common Core math tells us we have forty or so -400 days before we hit the mythical Keynesian rock bottom.
Can you please explain how you got your answer?
40 x 400 = 16000. DOW is currently 15,871. We explicitly said NON-Common Core.
Whu whuddayamean there is no such thing as non-Common Core math? Must have got off at the wrong stop. Everything looks weird here. Don't panic (run!!!).
500 day until Climate Chaos - French Foreign Minister Laurent Fabius, May 13 2014 = September 23, 2015
https://www.youtube.com/watch?v=2QDJb6fF8pg
Pope Francis to address Congress (first ever) - September 24, 2015
https://www.youtube.com/watch?v=i4-TyzVovVo
One of your rights as a ZH Veteran is the right to say:
despite the redundancy.
- Ned
No, I believe Keynes. With the right monetary spell you can change economic lead into economic gold. You just need to believe and use the right words.
Howz dat workin' out 4 u?
- Ned
No news? Check your porn filter, it must have the word "China" in it.
And It's Gone! (Cafe Del Mar Version)
https://youtu.be/4TlPo0yCSa4
Oh my god. THIS IS FUCKING AWESOMEEEE!!!!!!
+ 100'000'000'000'000!!!!
Apocalypso Blues
Sittin' by de ticker, me heart, she feel so sad
Sittin' by de NazDaq, me pocket, she feel so bad
Don't got de money
Duh get me New York city cab!
Fine calypso woman, she cook me shrimp and rice
Fine calypso woman, she cook me shrimp and rice
Dese yankee hot dogs
Don't treat me stomach very nice
In Trinidad, one dollar buy
Papaya juice, banana pie
Six coconut, one female goat
An' plenty fish to fill de boat
One bushel bread, one barrel wine
An' all de town, she come to dine
But here is bad, one dollar buy
fallen splinter APPL, an' no pie.
Me throat she sick from necktie
Me feet hurt from shoes
Me pocket full of empty
I got Apocalypto blues
Dese yankee fraud give me big scare
Is preach de bull, but teeth de bear
Her quote id false, all pig wid paint
And stick da save are where buyer she ain't
She dips and darts when she should waltz
I even think her lies is false
But calypso girl is good a lot
Is what you see, is what she got
Sittin' in tradin' space, me heart, she feel so sad
Sittin' wid'out me face, me heart, she feel so sad
Don't got de money
To take me back to Trinidad
An old Nat"King"Cole song done in the early 50's and you did some play with the words-- no harm, no foul tough. Was one of his first songs. And yes, I am a little long in the tooth. ilestones
gone
hey i'm trying to teach my son the importance of savings he already lost his money?
aaaand it's gone
hey i'm trying to teach my son the importance of savings he already lost his money?
it's gone it's all gone
hey i'm trying to teach my son the importance of savings he already lost his money?
gone
hey i'm trying to teach my son the importance of savings he already lost his money?
prolly b betta' to start with spelling.
What do expect? Things were moving a tad rapidly today. Normally on a time and sales window for SPY you can almost get a feel for the type of buying and selling going on. Today you were lucky to get a hint on the price as the pages of sales flew by. Fffttt!
So where would it have landed if the PPT wasn't there?
It would have turned off before 10am est by a circuit breaker rule and resumed tomorrow.
Zh posted an article this morning about how the rules work. Check it out.
Hey, Cap'n, having a bit of trouble opening the link. Always find your insight worthy of the time. Keep up the work. Humbly, Pinche
Why are corn and wheat up?
We did this once before, remember?
When the Fed blows the dollar up we will be back to food riots and bread helmets, do you guys remember this?
Can you expand on that? I really want to read what you have to say!
allow janus:
*fed/treasury monkey business viz. DXY @ 2009/2010 + food riots in mid-east = arab spring = isis.
price spikes in basic commodities are a result of DXY tinkering; it's a form of dollar averaging. preceeding the food riots and subsequent arab spring, money did not flow into energy because there was too much downside risk, so we saw corn and wheat explode. now this squeeze will be more acute because there is no foreseeable upside in energy with global slow-down. it's very much like graham's inverted pyramid, only we're seeing the oscillations in dollar v commodity index as prelude to the final death spiral of bonds and gold.
{*cannot as yet balance the equation because the fed/treasury are still up to their monkey business with the remainder}
janus
"What are inflation expectations doing? "
Getting hedonically bent over a rail
"Hedonically" is the word I've been searching for all day. Thanks, Ned.
Need a full out war somewhere, But USA USA, exceptional USA has lied one too many times to pull it off. Curses curses on the internet for finding information.
Reminds me of Pinky and the Brain. "What are we going to do tonight Brain?....".Same thing we do every night Pinky "Take over the world"".....We are Pinky, Pinky and the Brain. One of us is a genius and the other is insane.
Need a full out war somewhere, But USA USA, exceptional USA has lied one too many times to pull it off. Curses curses on the internet for finding information.
Reminds me of Pinky and the Brain. "What are we going to do tonight Brain?....".Same thing we do every night Pinky "Take over the world"".....We are Pinky, Pinky and the Brain. One of us is a genius and the other is insane.
Murph from Southie says, "mahkits all time highs by the end of the Sawks season. Document it kid!"
I'd say that Cara Donna truck did an excellent job distributing food all over the road.
<< Sometimes you eat the bear
<< Sometimes the bear eats you
The blad headed killer bear of Claire county!
https://www.youtube.com/watch?v=OBJ-MpPBDug
I miss John Candy....Classic
Rutger Hauer as a member of the PPT...
https://www.youtube.com/watch?v=dddR4ZpTDC0
Roy Batty. Very memorable performance.
"I've seen things you people wouldn't believe."
"I've seen C beams, glitter in the darkness at Tanhauser Gate...I saw PPT people..juicing sick markets to the sky..."
"The candle that burns twice as bright burns half as long...and you have burned so very, very brightly, Roy."
I've seen things you people wouldn't believe...
The world of Blade Runner may seem like fantasy to people, but hell the urban style exists in real life, I see it every week when I travel through the industrial area of Teesside in North-east England. Fantastic film...
I have too, and they were all unbelievably good and beautiful. I worry about my ability to be effective when the horrors start.
Can't say im upset with this. I told the people that matter to me about this while we were doing a group vacation in the end of July to pull the F out of the market and sit tight. I hope they did my concious is clear.
I hope they did my concious is clear.
Well I know that you are concious...that you are awake...especially if you were telling the people this in July.
But why isn't your CONSCIENCE clear? (That was a classical Freudian Slip.)
Look. You cannot control OTHER PEOPLE. You are as powerless over ther people's behavior as you are over Drugs, Alcohol, and other substance abuses.
Now I am NOT WRITING THAT YOU USE. But I AM writing that I detect some CODEPENDENCE ISSUES.
You cannot save the World. None of us can.
Lose the guilt as you are tearing yourself up for that which is impossible.
You did the best that you could.
Now warn these people to get PHYSICAL CASH as they will need it when the POINT OF SALE MACHINES FAIL due to Credit Freeze II.
If you are wrong then they can redeposit and it COSTS THEM NOTHING. If you are right, on the otherhand, they may be able to survive it.
But, as we all know, no good deed goes unpunished. So, if it a) turns out to be right and b) succeeds in convincing its "friends" to follow the advice, then it will be punished without mercy for a) being right and c) not saving themselves from their own indiscretions.
It is just a long-term thang. Can't cure stupid. Hard to cure normalcy-bias. Harder still to cure an entire lifetime's experience.
- Ned
Whats green and smells like pork???
Kermits wiener
Hey Now!!!!! Frogz smell NOTHING like ... er ... pork.
they smell and taste like Chicken!
- Ned
Truly awesome numbers today and the Muppets anal orifice is so stretched by now, they likely barely noticed the freight train parked in their butts.....
In a few hours, round three may begin.
m
That deer in the middle of the road looks like Mike Holland from the China Fund and frequent guest at CNBC doing his shtick promoting Chinese mutual funds and stocks. Run Mike, run.
We haven't heard from Leo for quite a while, since he was promoting Chinese Solarz 'n' all.
charts... bubblicious...
https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximiz...
Only the beginning.
New safe haven in town.
King Euro
"whatever it takes" ... Ahhh...So this is what Draghi mean't.
What if the Europeans politicians have so much political capital that they will let Draghi do whatever it takes to keep the Euro afloat- even if it means fucking over the US and its dollar.
Good question and ... well ... my observation is that a) whatever it takes would be their (Euro polz et al.) objective and b) nfw 'cuz the big swingin' dick ain't gonna' get fucked over until it does.
USD sucks, but it sucks less than all other currencies.
There was a contributor post today that talked about dollar strength and I'm of that view, for now.
Everything is contingent on various thangs coming to b
- Ned
Incredible demand on GOLD/SILVER physical, supply down and prices in FRN's are going down, this is an impossibility unless the marker is rigged,HAHAHA no shit..CFTC/ CME GROUP/ COMEX should all be in fucking JAIL...Problem is .gov loves this state of corruption..
Real price silver $150.00 oz
Real price gold $4,500.00
My guess only
other analyses don't concur
No confirmation on "incredible demand"
No contest with your statement that the markets are rigged.
Your guess is fubar, but the conclusions are well within the realm of possibility
Please give us a reasonable v. brain-dead evaluation.
Reddie on ya
- Ned
{thinkin' that your guess is wildly wrong}
thanks, it's been a while since I've laughed so hard my sides hurt...
"King Euro" bwahahahahahahahaha *snort*
Glorious.
Came for the carnage and the deer. Did not leave dissapointed, 8/10.
If you think the QE is needed (like last year's call) break out the elephant gun at a 30% QE4 debasement driven by basket purchases.Do your own diligence and wait for the blink.
OTMFL!!! (Off The Mother Fucking Lows)
jumps up, clapping enthusiastically "Bravo Bravo! What a performance! I laughed! I cried!"
I nepped
http://pbs.twimg.com/media/B58juRaCEAAMYNH.jpg
psssssst, don't nepp to much. it will make you go blind
Can you type larger for me please?
touche' well played. wanna borrow my buddy holly glasses?
Do ya wanna see it again?
#41
yes, laugher to tears, horror to hope. magnificent (standing ovation)
buybacks are getting cheaper
Kudos to all the knucklehead Ceos buying back hundreds of billions at the top...# WINNERS
Today's stock buyback plan semi-worked.
Tomorrow...no bullets.
Liz Clayman on FoxBusiness talking to MoneyManager on holiday in the Hamptons: So you bought today?
Yes
What did you buy?
Facebook
Did you get it at the bottom when the market was down 1000 pts?
No. There was no volume. I picked it up at 82.
Lis: Right about where it is now.
Yes
So you're not looking for a huge pop in price?
I'm looking for a company that will do well over time.
Me: I'm on facebook. I don't like facebook becoming the AOL gateway to the internet. I have yet to click an ad. How are they monetizing me?
The CEO's and insiders have been selling, the companies were buying.. Big difference.
... which is bullish.
Shemitah
Tis but the beginning.
@KevinHenry that is all you got MUWAHAHAHAHAHAHA!
Suck my dick Fed sympathizers
"Everygody's got a plan until theY halt trading on the Indexes to prevent you from selling and slam up the Redem[ption Gates...."
MIKE TYSON
Truth
if you still have
2 ears to hear with
Evander Holyfield
Funny thing is you and i had this convo Friday I believe about redemption gates.
asll in the public domain...
yet what percentage of the dumb downed ignorant ass US citizenry understand "whats here" and "whats coming"....
probably .01%......
Well they are US citizens which they believe is the correct way of calling themselves. Us citizens belong to the corporation United States and headquartered in DC.
I spoke with a stranger last night. Now this man was kind enough to drive my next door neighbor home to get a spare set of keys. (My neighbor had locked himself out of his car during work.)
So this stranger, this coworker of my neighbor, drove my neighbor home, and back to his place of employment, before he traveled home.
Due to this man's kindness I told him of the mayhem that was happening in Asia at the time last night.
I also gave him a prognosis, told him to load up on PHYSICAL CASH, so that he could weather the storm of Credit Freeze II. It took me 5 minutes to present the unfolding scenario.
My neighbor arrived back home in HIS OWN CAR about an hour afterwards. My neighbor told me that this man thought that I knew what I was yammering about. Furthermore he told my neighbor that some radio shows are talking about this.
Some are awakening. I hope that it is not too late.
You do understand that I am in total agreement about stacking Silver (and Gold.) But cash will be king for about 6 weeks after the failure of the Point of Sale Electronic Currency...due to interinstitutional fears as to the solvency of the Banks within the Banking System.
After the great deflation then a hyperinflation will roar out of control....and all of your bets on Silver will manifest.
Make sure you have liquid Cash during those six weeks Kaiser. You will be buying up Silver for nothing.
Just think if there wasn't any Fed intervention here...WOW
The more manipulated it gets the harder it is to keep manipulating. Endless cycle.
Just think of jumping off a staircase you never built into a hole you never dug.
Markets, turmoiled! Oh, the huge manatee!
Kraken.
Oh deer..
Bucking the system.
Stag Party.
Having a hart to hart.
Fawning over the markets.
Will this be remembered as a "hind quarter?"
Bone-us pun-- Homer Simpson: Doe!
Bambi Does Wall Street
https://upload.wikimedia.org/wikipedia/en/thumb/0/00/Debbiedoesdallas.jp...
doe, a deer, a light stunned deer.
“Paradise by the Bloomberg Light” from "Paradise by the Dashboard Light" by Meat Loaf
[Boy:] I remember every little trade, as it happened only Friday
China crashed late and there was not a dip-buyer in sight
And I never had a setup looking any better than you did
And all the big dark pools, they were dumping shares overnight
And now the range is not so close and tight; it never felt so good, it never felt so right
And there was no one gonna catch this falling knife, no one making bets on the edge of the knife
C'mon, take a dive C'mon, take a dive !
Though my foot’s asleep and I’m all out of Sprite, I can see paradise by the Bloomberg light
[Girl:] Ain't no doubt about it we were doubly blessed
'Cause the Dow broke 17k and we were short as hell
[Girl:] (Monday, 9:32 a.m.) Stop right there! I gotta know right now, before we go any further:
Will you cover, or will you milk it forever? Do you need me? Will you never leave me?
Will you make me a sap for the rest of my life? Or, will you take some profits,
and then make me your wife? I gotta know right now, before it turns and reverses
Will you cover?
[Boy:] Let’s just sleep on it, Baby, Baby, let me sleep on it
Let me sleep on it, and see if China crashes in the morning
[Girl:] I gotta know right now: Will you cover? What's it gonna be, boy?
[Boy:] I couldn't take it any longer, Lord I was crazed, and with HFTs selling
like a tidal wave, I started swearing and cursed her mother’s grave
Said I would stay short to the end of time, I swore I would short this through the end of time
So now I'm praying for another leg down, it's all I can do (ooh, ooh)
I'm praying for another leg down so I can get back those profits for you
[Boy:] Seems long ago, but it was Friday, short action more steady than it is today
[Girl:] His brain don’t work so good when he’s out of Sprite
He should’ve covered at the open and made me his wife
Didn't do squat today...stood pat and watched the carnage....was tempted to go short mid day but given the action decided to sit tight. Next few days should be really interesting. Hope you were flat to short going into this. GL
Same here, always 100% cash at every close, stayed out today, I imagine those option premiums tempted you, but waiting, even a few days, may prove healthier, rather than try to grab pennies near the black hole's event horizon. GL to you too, nice to watch without sweating for once.
Those premiums are out of this world...only problem is to take advantage, you would almost have to go naked to benefit...spreads are just too wide anywhere reasonable. I'm with you...I'd much rather live with the would have should have than chase this thing and get steam rolled. There will be another week to play it smart, until there isn't, then it won't matter.
Also stayed flat on crude. Thought about correlation before my trading start time which is 830am central and said nope not I. I did see Doc on this site bought the dip and made a some serious profit from what I read so congrats to him for catching the ramp. I am sure some were short also and made a nice trade. I know one guy last Thursday on ZH loaded up on shorts so he is pretty damn happy today.
Yeah, sometimes you feel like you’re home on prom night on days like this, but my particular methodology involves 15m/60m chart trading within a Daily/Weekly MA backdrop, and days like this throw my touch-points so out of whack, it’s like a blind man crossing the expressway. Thankfully, these days are outliers, so I don’t mind targeting max profit on the standard, boring day and taking a rare day off (my first in 16 months, other than Yellen testimony days). Fascinating nonetheless.
When you are not comfortable especially like today, sit back and watch. There really isn't anything to learn from days like this except it is rigged. You can throw pretty much any strategy out the window as the ppt will do what it wants. I do agree it is fascinating.
Looks like that was a good move today. Took a dip in the shark infested waters a few days ago....long USO, selling covered calls and long some cheap puts for catasrophic insurance. I feel ok with oil long term...it's not going to zero, but seeing cheaper prices is not exactly a shocker to me. Generally don't venture far from index plays but there is a lot of blood flowing on Oil Avenue. Think it is going to be a long recovery though so that bodes well for a covered call strategy. GL
Honestly, I am not sure our economy could take $80 a barrel of oil at this point which is basically double the price now. I am opposite of you as I hate index plays as my main trading instrument is CL. I know her curves. It is the indexes the always give me the clap.
Don't start looking to your legislators for any help.
They passed the buck in 1913.
Let's give our city and country Sheriffs a try.
I think pitchforks and guillotines are the only solutions...
Feds are useless.
.....so whats wrong with 500 foot cliffs or boiled-hemp?
Moving.
Mamma Mia! you have to watch that vid...
Today's clueless deer is tomorrow's poop on the grass.
'Bout time for the venison!
And the deer are back... I missed them... and just in time for hunting season too...