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"Biggest Rally Of 2015" Crashes Into Biggest Reversal Since Lehman

Tyler Durden's picture




 

Did you drink the Kool-Aid?

 

It appears not everyone did... The first 6-day losing streak for the S&P 500 since July 2012...

The S&P 500 has gapped up +3% and closed down on the day only once since the inception of the futures, 10/16/08 (h/t @sentimenttrader)

 

Call that a bounce-back...?

 

Across asset-classes the last 2 days have been 'eventful' to say the least...

 

The Dow is down almost 700 points from the post-PBOC highs!!!

 

Stocks bounced, half-heartedly... but Nasdaq was on target for its best day of the year... (and best since the first trading day of 2013's meltup) before they puked it all back in the last hour...

 

Cash indices remain red on the week as once again Nasdaq was driven up to unchanged before the selling pressure resumed..

 

While we are well aware of the 'hope' priced into this rebound, the actual gains from the China rate cut

 

VIX was total chaos...

 

None other than Eric Hunsader summed it all up perfectly...

What was really driving stocks today was simple - USDJPY fun-durr-mentals...

 

Utes were worst today (as rates soared) and Tech remains the winner on the week - though all S&P sectors are under water...

 

Still financials did not look overly excited...

 

Treasury yields were battered higher today - biggest rise in 10Y yields (13bps) since Feb 2015...the late-day selloff in stocks put a modest bid into bonds... We can't help but wonder if this move is rate-lock-buying ahead of panic-last-minute corporate issuance before rates go up in Spetember

 

The US Dollar was bid as EUR weakened but JPY was critical...

 

Commodities were mixed with crude and copper bouncing back in anticipation and comfort at the rate cut as PMs dumped as the USD levitated...

 

Charts: Bloomberg

Bonus Chart: We're Gonna Need Another Rate Cut...

Bonus Bonus Chart: Is China really to blame?

 

Bonus Bonus Bonus Chart: Trade Accordingly...

 

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Tue, 08/25/2015 - 16:08 | 6469672 surf0766
surf0766's picture

Welcome to Merkia. Please pass da banana .

Tue, 08/25/2015 - 16:14 | 6469736 r101958
r101958's picture

"U.S. Stock Market back to trading like a banana republic". Hell, what do you expect? Our finances are like that of a banana republic!

Tue, 08/25/2015 - 16:09 | 6469674 Kolchak
Kolchak's picture

Hahahahahahaha  it's all I can muster.

Tue, 08/25/2015 - 16:15 | 6469739 El Vaquero
El Vaquero's picture

I bet you can muster a "FUCK  YOU DOW JONES!"

Tue, 08/25/2015 - 16:19 | 6469793 Zen Master
Tue, 08/25/2015 - 16:09 | 6469675 Tsar Pointless
Tsar Pointless's picture

Biggest Rally of 2015: I laughed, I laughed, I laughed some more.

The last half hour was truly the best of all. So many great performances - the NASDAQ outshined them all, though. I was truly impressed with its range and ability to take something and make nothing out of it.

Quite impressive, to say the least. I give it an A-.

Tue, 08/25/2015 - 16:16 | 6469754 Bay of Pigs
Tue, 08/25/2015 - 16:25 | 6469840 andy55
andy55's picture

hah A+ comment

Tue, 08/25/2015 - 18:18 | 6470373 Max Cynical
Max Cynical's picture

I heard a Fox Business news reader say (in a super excited voice) "Call it turnaround Tuesday"

Tue, 08/25/2015 - 19:43 | 6470656 Realname
Tue, 08/25/2015 - 16:09 | 6469676 Latitude25
Latitude25's picture

Fire the fucking PPT. LOL

Tue, 08/25/2015 - 16:16 | 6469752 El Vaquero
El Vaquero's picture

No no no!  Then they might get somebody competent in there.

Tue, 08/25/2015 - 16:09 | 6469677 q99x2
q99x2's picture

YeeeeeeeHaaaaaaa they're coming for you Blankfein and Dimon. Bankster M'Fers.

Tue, 08/25/2015 - 16:09 | 6469678 Pumpkin
Pumpkin's picture

WTF?  I was all in.  They said go all in.

Tue, 08/25/2015 - 16:14 | 6469725 B2u
B2u's picture

Haha!  They had to find suckers to buy while they sold.

Tue, 08/25/2015 - 16:16 | 6469758 Getting Old Sucks
Getting Old Sucks's picture

I think he was kidden you :-)  You do speak the truth though.

Tue, 08/25/2015 - 18:09 | 6470343 Nikki Alexis
Nikki Alexis's picture

Here's the video from CNBC to "go all in" from Tony Dwyer at the 3:35 mark on 8/12/15...

http://video.cnbc.com/gallery/?video=3000406179

 

He says it again in this link in a "Monday Note" (not the video) 8/24/15...

http://www.cnbc.com/2015/08/24/amid-carnage-strategists-predict-bounce-g...

 

Tue, 08/25/2015 - 20:04 | 6470732 HungryPorkChop
HungryPorkChop's picture

@Nikki : OMG this is classic disinfo at it's best.  Bahdad Bob might have even blushed at this one! 

Tue, 08/25/2015 - 16:20 | 6469795 KnuckleDragger-X
KnuckleDragger-X's picture

Going full retard is not for the weak.....

Tue, 08/25/2015 - 16:49 | 6470003 Kickaha
Kickaha's picture

Not to worry.  Borrow some money and go all in tomorrow, too, and win all of that money back, and then some!

Tue, 08/25/2015 - 16:09 | 6469679 ghostzapper
ghostzapper's picture

The suspense is killing me!!!!!!!!!!!!  Will Cramer be able to reassure both of his viewers tonight?

Tue, 08/25/2015 - 16:21 | 6469806 Kaiser Sousa
Kaiser Sousa's picture

"YOU KNOW NOTHING!!!!!!!!!!"

Tue, 08/25/2015 - 16:26 | 6469854 Mintcoin
Mintcoin's picture

Who wants to bet, Cramer retires after this.

Tue, 08/25/2015 - 18:19 | 6470375 Automatic Choke
Automatic Choke's picture

naw, he'll just get louder....

Wed, 08/26/2015 - 01:16 | 6471476 e_goldstein
e_goldstein's picture

until he is eaten by a ravenous pack of destitute retail investors.

booyah, Jim, booyah.

Tue, 08/25/2015 - 16:53 | 6470027 mt paul
mt paul's picture

i don't know about the other guy

but he won't convince me ....

Tue, 08/25/2015 - 22:15 | 6471278 techpreist
techpreist's picture

Not Cramer, but here are some funny ones:

Market psychology: Smart people make dumb mistakes

Relax, we're about to hit the bottom in stocks

Should you be worried about your pension?

Once it occurs to you that they really are trying to get you to hold the bag, the videos look so different. The last one looks kinda like Quaddafi's (or any other dictator's) videos about "I am still in control!" while it was all coming down for him.

Tue, 08/25/2015 - 16:09 | 6469680 CosmicDebris
CosmicDebris's picture

15,"666".

Lol.

Tue, 08/25/2015 - 16:11 | 6469702 Usurious
Usurious's picture

cryptic

Tue, 08/25/2015 - 16:31 | 6469883 trader1
trader1's picture

no,

just hidden in plain sight

Tue, 08/25/2015 - 17:21 | 6470168 MSimon
MSimon's picture

Aleister Crowley

Tue, 08/25/2015 - 16:18 | 6469776 El Vaquero
El Vaquero's picture

Let us hope for 15,555 tomorrow.  It'll be a lesser evil.  . 

Tue, 08/25/2015 - 16:23 | 6469820 Nikki Alexis
Nikki Alexis's picture

14,666... Fixed it for you

 

Tue, 08/25/2015 - 16:30 | 6469879 Mintcoin
Mintcoin's picture

Buying and Selling the Mark of the Beast

Tue, 08/25/2015 - 17:06 | 6470094 Cosmicserpent
Cosmicserpent's picture

That could be very optimistic. I'm hoping 13,666.

Tue, 08/25/2015 - 16:09 | 6469681 Dr. Engali
Dr. Engali's picture

I'll just plant my first post of the day here:

Tue, 08/25/2015 - 09:24 | 6468116Dr. Engali
Dr. Engali's picture
Vote up!
8
Vote down!
-2
Yesterday was an excellent day for me. Today, I think I'll layer on a short position.

reply

Tue, 08/25/2015 - 16:11 | 6469701 SSRI Junkie
SSRI Junkie's picture

+1 you called it dude, with your own money

Tue, 08/25/2015 - 16:20 | 6469784 John Law Lives
John Law Lives's picture

Don't forget this post from this morning, Doc... where you opined that the rally might stick:

___________________________________________________________________________________

Dr. Engali
Vote up!

3
Vote down!

-3

There is a good probability that today's rally will stick, it may even last a couple days, but the trajectory is clear right now. At the very least the "market" has to test the lows. Me, I'm layering on a small short position today and then I'll take a wait and see.

Tue, 08/25/2015 - 16:31 | 6469855 Dr. Engali
Dr. Engali's picture

Yeah, so what's your point? Yesterday my first comment of the day was that I was going long on the open, and later on I said that I don't believe this is the big one but who knows. I can tell you right now that I don't know for sure where the direction will be, but I've been around long enough to know a pretty good bet when I see it. By layering in and not going all in on a short position I made sure I participated on the downside and if it went against me I didn't get too burnt.

Tue, 08/25/2015 - 16:42 | 6469953 John Law Lives
John Law Lives's picture

"I can tell you right now that I don't know for sure where the direction will be,..." - Dr. Engali

We are in full agreement.

Tue, 08/25/2015 - 16:23 | 6469828 saints51
saints51's picture

Mucho props. i am happy for you and read all your comments. Even gave you some cred yesterday in one of my comments. Congrats again and nice calls.

Tue, 08/25/2015 - 16:09 | 6469682 Seasmoke
Seasmoke's picture

Ha ha ha. Dow Closes at 15,666. This time the 666 message is much clearer. This shit is going down for the count. TKO.

Tue, 08/25/2015 - 16:12 | 6469708 The man with po...
The man with pointy horns's picture

Only for the hyperinflationary bounce to happen when the Dow hits 6666, by which time said market turmoil will require imposition of a "new world order". Ha ha ha- NOT!

Tue, 08/25/2015 - 16:13 | 6469685 ebworthen
ebworthen's picture

"Should you panic about your 401K/I.R.A.?  That's the worst thing you could do!"

How many of those shill articles or "experts" did you read or hear yesterday?  Almost countless!

Yeah!  Don't panic!  Leave it in the casino so Wall Street has a sucker to sell too!

Same fucking bullshit in 2008-2008, all the fuck over again! 

SO glad I have left the craps tables behind.

Tue, 08/25/2015 - 16:26 | 6469851 saints51
saints51's picture

CNBC has an article posted on the right of their website. I shit you not it says this:

Scared by markets? Maybe buy a car

Tue, 08/25/2015 - 18:09 | 6470342 Mr. Bones
Mr. Bones's picture

Of course $500,000 dollar cars are appreciating, other than houses what other tangible assets are the people who get first dibs on free money supposed to buy?  It's slightly harder to show off your fleet of yachts to your bankster friends.

Tue, 08/25/2015 - 19:21 | 6470569 Rentier88
Rentier88's picture

I say FOOK OFF CNBC

Tue, 08/25/2015 - 20:10 | 6470756 Pipetex
Pipetex's picture

Swapping the excitement of this out of control rollercoaster for an old car? nah... besides, old cars tend to break every other day!

Tue, 08/25/2015 - 16:10 | 6469688 large_wooden_badger
large_wooden_badger's picture

Cut all the rates! We'll send this fucker to the moon!

Tue, 08/25/2015 - 16:10 | 6469689 HardlyZero
HardlyZero's picture

Redux, Reflux, Refux.  Going DOWn ?

Tue, 08/25/2015 - 16:10 | 6469691 thx111
thx111's picture

Bank of Japan and Japanese GPIF guys couldn't stay up until US market closes.  They ran out liquor. 

Tue, 08/25/2015 - 16:10 | 6469694 Yen Cross
Yen Cross's picture

  And the biggest joke of all. The VIX closed down 11.00%   WTF?

 36.26 -4.48 (-11.00%)

Tue, 08/25/2015 - 16:15 | 6469743 Jena
Jena's picture

Yeah. If this ain't volatility, I guess I don't know what is.

 

Hey, YC.

Tue, 08/25/2015 - 16:16 | 6469755 Kassandra
Kassandra's picture

I need some dramamine.

Tue, 08/25/2015 - 16:11 | 6469696 Keltner Channel Surf
Keltner Channel Surf's picture

“It’s a Head-Fake”       from   "It's A Heartache"         by  Bonnie Tyler

It's a head-fake, nothing but a head-fake
You notice, but it’s it's too late
Bids are headed down

It's a fool's game, nothing but a fool’s game
Not protecting old gains, feeling like a clown

It's a head-fake, nothing but a head-fake
They lift it till new shorts break
Then they take it down

It ain't right that doves hate bears
But now you find that they’re not there for you
It ain't wise to need someone
As much as the Fed depends on you

It's a head-fake, nothing but a head-fake
Spits you out like birthday cake
When your two-year-old melts down

It's a fool's game, nothing but a fool’s game
The Fed ignores outsized gains
But panics when it’s down . . .

Tue, 08/25/2015 - 16:11 | 6469697 Not if_ But When
Not if_ But When's picture

Other than the PPT, idiot CNBC watchers, and artifical intelligence algos - there was no valid reason whatsoever to buy today.

Tue, 08/25/2015 - 16:21 | 6469805 BudFox2012
BudFox2012's picture

Well besides VIX funds.  Those seem to be doing a smash up business as of late.

Wed, 08/26/2015 - 16:11 | 6470844 Pipetex
Pipetex's picture

I have devised a fuzzy logic, imbatible ALGO, but you are not allowed to use it without paying me royalties!

 

Do WHILE (AAPL) > 0                    ; no, this is not an infinite loop!

if (Today_AAPL) < (Yesterday_AAPL) then wait_for_PPT: BUY (AAPL)

if (Today_AAPL) > (Yesterday_AAPL) and not PPT then SELL (AAPL)

 

You are welcome...

P.D.: Ok, i've been seriously criticized for not adhering to formal programming rules, and failing to properly define vars... so here we go:

DEFINE PPT as LONG LONG LONG INTEGER

PPT=-Sweden

 

 

 

 

 

 

Tue, 08/25/2015 - 16:12 | 6469704 Seasmoke
Seasmoke's picture

Look at the Gold collapses into the London close. Fuck you England. The Queen is Dead.

Tue, 08/25/2015 - 18:21 | 6470378 Automatic Choke
Automatic Choke's picture

more stacking opportunity....

Tue, 08/25/2015 - 16:12 | 6469706 fockewulf190
fockewulf190's picture

Art Cashin opined three minutes before the close....and then came the crash.  Amazing to watch how fast billions of dollars can disappear.

Tue, 08/25/2015 - 16:57 | 6470048 mt paul
mt paul's picture

money doesn't disappear

it just changes hands...

Tue, 08/25/2015 - 16:12 | 6469707 Chosenpeople
Chosenpeople's picture

15,666:  the sign of our favorite Satanic economist, Yellen of the Tribe. 

I suggest that if you are still in, get the hell out.  The Fed/PPT can't seem to save this abomination.

Tue, 08/25/2015 - 16:14 | 6469734 Kaiser Sousa
Kaiser Sousa's picture

that shit aint no coincidence....

i bet u.

Tue, 08/25/2015 - 16:17 | 6469761 large_wooden_badger
large_wooden_badger's picture

I tried my luck recently like a good muppet, only cost me 10%. Out yesterday exept for CEF, Canada gold fund.

Can anyone recomend any good contra index funds worth looking into? I'm going to beat this fucker! One more roll, yeah!

Tue, 08/25/2015 - 16:21 | 6469802 large_wooden_badger
large_wooden_badger's picture

Maybe go long DOG in the morning

Tue, 08/25/2015 - 16:35 | 6469781 Dickweed Wang
Dickweed Wang's picture

15,666:  the sign of our favorite Satanic economist, Yellen of the Tribe.

You bet!  Looks to me that TPTB don't give a shit how blatant their signals are  - even for the sheeple I guess . . . .

Tue, 08/25/2015 - 16:13 | 6469709 Callz d Ballz
Callz d Ballz's picture

heaping pile of smoldering venison in the taillights...

Tue, 08/25/2015 - 16:12 | 6469711 Bay of Pigs
Bay of Pigs's picture

Fear is starting to set in on these paper humping fucksticks.

Tue, 08/25/2015 - 16:13 | 6469715 Harnar
Harnar's picture

Off the L...oh

Tue, 08/25/2015 - 16:13 | 6469717 IndyPat
IndyPat's picture

But...but...Apple closed green.

Lulz. Barely.

Tue, 08/25/2015 - 16:13 | 6469719 large_wooden_badger
large_wooden_badger's picture

Hey Janet, turds aside, the punchbowl is looking a little empty. Little help here?

/s

Tue, 08/25/2015 - 16:30 | 6469878 bid the soldier...
bid the soldiers shoot's picture

 

But there's plenty of cool-aid

Tue, 08/25/2015 - 16:17 | 6469722 Dickweed Wang
Dickweed Wang's picture

Contrary to conventional wisdom I predicted this (today's drop in the markets) yesterday in a comment on ZH.  TPTB can't resist numerological dates like 8-25 (=33).  For those who think this is BS ask yourself why so many "crisis" in the last couple of decades occur on dates with 11, 22 or that add up to 33.

P.S. When the Dow closed today it was at 15,666.70 and then somehow the number was revised to 15,665 something - very interesting indeed.

Tue, 08/25/2015 - 16:22 | 6469814 El Vaquero
El Vaquero's picture

Check again on the Dow.  I'm showing 15,666.44.

Tue, 08/25/2015 - 16:28 | 6469860 Dickweed Wang
Dickweed Wang's picture

You might be right . . . serves me right for getting my data from Yahoo.finance . . . . . bottom line is that just confirms my point about the bullshit numerological games being played under our noses by TPTB.

Tue, 08/25/2015 - 16:32 | 6469887 El Vaquero
El Vaquero's picture

Sometimes a 666 is just a 666 though. 

Tue, 08/25/2015 - 16:34 | 6469899 Kaiser Sousa
Kaiser Sousa's picture

ah Hell....

Tue, 08/25/2015 - 16:33 | 6469891 Latitude25
Latitude25's picture

Wow they must be gods huh?  Are you impressed?

Tue, 08/25/2015 - 16:38 | 6469925 Dickweed Wang
Dickweed Wang's picture

Tried to edit my comment to indicate you are right on the closing number but ZH is into its "cut off comment editing mode really quick" state.  Anyway it appears that they are sending signals about who is really in control here and they don't give a shit how blatant those signals are.

Tue, 08/25/2015 - 16:14 | 6469728 crazybob369
crazybob369's picture

Hey Yellen, how's that rate hike looking now, bitch?

Tue, 08/25/2015 - 16:14 | 6469729 smithmorra
smithmorra's picture

I wonder how many suckers went out to play in this chain saw rally?

Tue, 08/25/2015 - 16:14 | 6469731 thismarketisrigged
thismarketisrigged's picture

today was the first time in a while i wasnt even upset at futures being up 500 plus bc i knew it was a dead cat bounce.

 

that being said, i didnt expect a red day, so i was content even if we finished up 100 pts as a major victory,

 

but to get a -25 on the s&p , that was awesome.

 

we will prob be see a 14,000 handle on the dow this week.

 

i have not been involved in a a long or short position for years, and yet i still enjoy this so much.

Tue, 08/25/2015 - 16:14 | 6469733 khnum
khnum's picture

O dear the ol rule 48 futures pump didnt work,why am I starting to equate Yellen with Mickey Mouse in the Sorcerors apprentice 

Tue, 08/25/2015 - 16:15 | 6469745 jakesdad
Tue, 08/25/2015 - 16:16 | 6469748 Bernoulli
Bernoulli's picture

Genius. That was simply AMAZING.

Tue, 08/25/2015 - 16:16 | 6469749 poldark
poldark's picture

Looks like Yellen has screwed up with her rate hike!

Tue, 08/25/2015 - 16:29 | 6469866 Getting Old Sucks
Getting Old Sucks's picture

I'm beginning to think the rate isn't going to stop this.  People are going to be trying to salvage what the can now.  Those holding out who bought lower than what it's at now are gonna bail out.  The only one's caring about rates are us savers.  Well, a few coins too.

Tue, 08/25/2015 - 16:16 | 6469756 B2u
B2u's picture

Gotta find a DOW 10,000 rally cap....it will be useful in a few months...

Tue, 08/25/2015 - 16:42 | 6469762 stant
stant's picture

The anti plunge protection team won 15,666

Tue, 08/25/2015 - 16:17 | 6469765 Chosenpeople
Chosenpeople's picture

Hey bitchez, now I gotta go out and buy more popcorn.

Tue, 08/25/2015 - 16:24 | 6469838 Getting Old Sucks
Getting Old Sucks's picture

Ha, I said go long popcorn on Friday.

Tue, 08/25/2015 - 18:21 | 6470379 Chosenpeople
Chosenpeople's picture

I credit you, Getting Old Sucks, and so it does.  It ain't for sissies.

Tue, 08/25/2015 - 16:17 | 6469767 Sanity Bear
Sanity Bear's picture

"since Lehman"!!!

 

I'm nepping so hard right now http://pbs.twimg.com/media/Byc8hCCIQAAgD0m.jpg:large

Tue, 08/25/2015 - 22:22 | 6471297 stormsailor
stormsailor's picture

me too, now i have to read braile

Tue, 08/25/2015 - 16:17 | 6469768 brushhog
brushhog's picture

The PPT, the media, and the market planners did everything they could to conjure a rebound...and failed miserably. This is a monumental day, their backs are broken. Big changes coming in the coming months and years, alot of pain for alot of very naive people.

Tue, 08/25/2015 - 16:24 | 6469839 Chosenpeople
Chosenpeople's picture

Bush-hog, you got that right.  BTW, quit hogging all the bush.

Tue, 08/25/2015 - 16:25 | 6469841 Dickweed Wang
Dickweed Wang's picture

The PPT, the media, and the market planners did everything they could to conjure a rebound...and failed miserably.

I have a sneaking suspicion that every time the PPT/FED hit the "buy" button to drive up the markets in the last few sessions that they were met with a larger "sell" order from some other national actor to drive the markets down - maybe we are seeing tit for tat from the Chinese with help from the Russians and Iran.  If so, it serves em (the PPT/.gov/FED) right!

Tue, 08/25/2015 - 17:02 | 6470074 phoolish
phoolish's picture

Anyone with fiat has unlimited firepower

Tue, 08/25/2015 - 16:17 | 6469770 GFORCE
GFORCE's picture

Prepare to be muppet-ed.

Tue, 08/25/2015 - 16:18 | 6469773 Pipetex
Pipetex's picture

Well, that deflated quickly...

Tue, 08/25/2015 - 16:18 | 6469778 EndOfDayExit
EndOfDayExit's picture

Me thinks that with the action like yesterday and today they just killed the BTFD strategy for good.

Tue, 08/25/2015 - 16:46 | 6469990 Mintcoin
Mintcoin's picture

They will need to pump at least 2 trillion into the market to manipulate it now. No way to unwind.

Tue, 08/25/2015 - 20:43 | 6470898 Sanity Bear
Sanity Bear's picture

*click* *click* *click* *click* *click*

 

have some zeroes!

Tue, 08/25/2015 - 17:03 | 6470080 phoolish
phoolish's picture

Imagine an 'investor' that bought that opening jam job?

Tue, 08/25/2015 - 20:44 | 6470901 Sanity Bear
Sanity Bear's picture

the one dating Miss Piggy?

Tue, 08/25/2015 - 16:18 | 6469780 falak pema
falak pema's picture

The Squid must be rewriting its spiel this very moment for tomorrow.

"Don't panic, China will rise again..."

Tue, 08/25/2015 - 16:22 | 6469810 large_wooden_badger
large_wooden_badger's picture

"Blame Iran"

Tue, 08/25/2015 - 16:28 | 6469861 bid the soldier...
bid the soldiers shoot's picture

"Blame Bernie"

Tue, 08/25/2015 - 16:19 | 6469783 CHC
CHC's picture

CNBC - Bob Pisani right after markets closed:  "Well, that was disappointing."  LMAO

Tue, 08/25/2015 - 17:28 | 6470199 chubbar
chubbar's picture

It's times like these that makes me regret canceling my cable, damn but what I'd give to watch the CNBC crowd during this crash. Almost worth signing back up for it. (almost)

Tue, 08/25/2015 - 16:20 | 6469798 Tsar Pointless
Tsar Pointless's picture

My 401(k) likely got battered, but I really don't give a fuck. There isn't much in there to be considered batter, not even for a cake.

Tue, 08/25/2015 - 16:20 | 6469800 roisaber
roisaber's picture

I see I'm not the only one who noticed the nice 666.

These folks aren't very subtle, are they? At least now we know it's a controlled demolition rather than a loss of control.

Tue, 08/25/2015 - 16:22 | 6469807 KingOfMilwaukee
KingOfMilwaukee's picture

If one looks at the last two days, including overnight, as four sessions, it looks like this...

 

-1000 (overnight to the open)

+420 (last half of yesterday)

+600 (overnight)

-800 (through to close today from the open)

 

That is NOT pretty!

Tue, 08/25/2015 - 16:22 | 6469813 Bill of Rights
Bill of Rights's picture

This is the 2007/08 play book in play, but this could be the big one he he

Tue, 08/25/2015 - 16:23 | 6469831 El Vaquero
El Vaquero's picture

But it could take months to play out, then, in the future, it will seem like a flash in the pan in retrospect. 

Tue, 08/25/2015 - 16:22 | 6469816 ptoemmes
ptoemmes's picture

Purple Jesus

Tue, 08/25/2015 - 16:22 | 6469818 Chosenpeople
Chosenpeople's picture

"S&P 500 sees biggest percentage swing before closing negative since Oct. 29, 2008" - Marketwatch

Now that the Chinese have gotten out of the US housing market, and almost everybody else will soon be up shit creek, I might be able to afford to buy a fucking house in a few months.

Tue, 08/25/2015 - 16:30 | 6469872 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

IF, you have a job and IF credit is still available - both big if's 

Tue, 08/25/2015 - 16:50 | 6470020 agstacks
agstacks's picture

If no credit is available, maybe some money with no counter party risk might intrigue them. Say 250 oz of silver?

Tue, 08/25/2015 - 16:53 | 6470033 Chosenpeople
Chosenpeople's picture

I got plenty of dough.  Just no where to spend it, except shorting which is too fucking freaky for me.

Tue, 08/25/2015 - 16:50 | 6470019 Peak Finance
Peak Finance's picture

Florida, which was one of the worst real estate markets in the country after the last crash, actually didn't find a bottom until two years later. A few months is too soon, Keep your powder dry. 

Tue, 08/25/2015 - 18:01 | 6470316 Bastiat
Bastiat's picture

I wonder how many people are still in their houses after defaulting on their mortgages back in 2008-9?

Tue, 08/25/2015 - 19:44 | 6470658 stock market loser
stock market loser's picture

Two years maybe. 

Tue, 08/25/2015 - 16:23 | 6469824 Pipetex
Pipetex's picture

PLEASE someone kick the power plug!

Tue, 08/25/2015 - 16:23 | 6469833 reefermadness
reefermadness's picture

wow dude what was that poof gone up in smoke

Tue, 08/25/2015 - 16:24 | 6469834 andy55
andy55's picture

.

Tue, 08/25/2015 - 16:25 | 6469846 fainzilberg
fainzilberg's picture

i t 's f u c k i n g    o  v  e  r

Tue, 08/25/2015 - 16:30 | 6469868 sudzee
sudzee's picture

Not to worry. The FED has your back.

Tue, 08/25/2015 - 16:31 | 6469885 Yen Cross
Yen Cross's picture

  It look like the fed. needs to give Tim Cook a trading seat at the Citadel desk, and the WSJ needs to give him a column next to Hilsenpukes.

Tue, 08/25/2015 - 16:33 | 6469894 Arthur Two Shed...
Arthur Two Sheds Jackson's picture

...before rates go up in September.....

 

AHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!

 

Talk about Kool-Aid.....

Tue, 08/25/2015 - 17:31 | 6470215 chubbar
chubbar's picture

Yeah, because when they are done watching the stock market crash they will want to watch the bond market do the same (S)

Tue, 08/25/2015 - 16:33 | 6469896 rejected
rejected's picture

Grandma Yellen turned to get the cookies out of the oven before they burned and look what the you unthankful slobs did while she wasn't watching!

Tue, 08/25/2015 - 16:34 | 6469900 RawPawg
RawPawg's picture

this other shoe that's about to DROP,sure does have a mean hang time....drop already

Tue, 08/25/2015 - 16:34 | 6469902 Winston Smith 2009
Winston Smith 2009's picture

"U.S. Stock Market back to trading like a banana republic"

Because that's what this is. However, the extreme wealth hides the skimming far more than it would in poorer banana states and the skimming process is much more complex and hidden:

The Quiet Coup

Becoming a Banana Republic

http://www.theatlantic.com/magazine/archive/2009/05/the-quiet-coup/307364/

Is the U.S. on the Verge of Becoming a Banana Republic?

http://www.theatlantic.com/politics/archive/2013/01/is-the-us-on-the-ver...

10 ways America has come to resemble a banana republic

http://www.salon.com/2013/09/11/10_ways_america_has_come_to_resemble_a_b...

Tue, 08/25/2015 - 16:34 | 6469904 rejected
rejected's picture

Grandma Yellen turned to get the cookies out of the oven before they burned and look what the you unthankful slobs did while she wasn't watching!

Tue, 08/25/2015 - 18:31 | 6470338 Bastiat
Bastiat's picture

Ole grandma Yeller

went to the cellar

to fetch poor Rover a bone

but when she bent over

Rover took over  . . .

Tue, 08/25/2015 - 16:35 | 6469906 Winston Smith 2009
Winston Smith 2009's picture

I suspect the late crash is due to some privileged bit of info most haven't detected yet.

Tue, 08/25/2015 - 16:35 | 6469907 TeethVillage88s
TeethVillage88s's picture

Take Down Jones down to 13500, then raise Federal Funds rate to 2.5% and be done with it.

Rip it off like a Band Aid after people are already in Defensive positions preparing for the Fed Increase and having a Stock Correction.

Now Doesn't that sound like Capitalism??

Isn't that they way it is supposed to work??

FED Listening to Interest Rates and people that are Whining from Lack of Experience in the markets should not matter beans.

Fiduciary Responsibility Applies to the US Federal Reserve Private Banking Cartel.

Tue, 08/25/2015 - 16:50 | 6470018 SmallerGovNow2
SmallerGovNow2's picture

Bingo!  But let fed funds rate go to 4%...

Tue, 08/25/2015 - 17:01 | 6470072 TeethVillage88s
TeethVillage88s's picture

I can go along with that.

That might be a superior plan, since we know they will never go to 5% ever again due to Federal interest Rate Payments by the US Treasury.

They need some room for future monetary policy, but mostly they need stability and confidence to return to the System.

4% would accomplish a lot and they might even wait 2 years and cut by .25% to provide confidence to the Market place. 3.75% interest might work.

I'd like to see 5% again, but just don't know how we could do that without ending the FED first. Why pay the FED and Banks interest on Federal Debt after all...

Yeah, Treasury isn't smart enough to set rates because European Bankers too us this was true. BS. With Federal Budgets sky high there is no reason to have Private Central Bank!!

Tue, 08/25/2015 - 17:49 | 6470282 chubbar
chubbar's picture

Yeah, pretty sure they are going to do that (S). 4% X 18 trillion = 720 billion/yr in addition to the 1 trillion in deficit spending = NO FUCKING WAY. Bond market crash, stock market crash = GDP down 10% minimum. Bail-ins take away excess cash (no return on 4% rates with no capital to invest), stock & bond market crash does the same. 

Let's face it kids, there is no way out except for complete reset of financial system along with debt write-offs, massive loss of asset valuations, massive loss of jobs. Get ready to enter the 3rd world. It's the end of living life and the beginning of surviving life.

 

Tue, 08/25/2015 - 19:09 | 6470526 TeethVillage88s
TeethVillage88s's picture

chubbar; aye we both probably agree they, the TBTF Banks, the FED, and the Federal Govt don't have a problem with printing money at all. Hell they hide all the money created by TBTF Banks, but we have an idea... Quadrillion in Derivatives must have a cash value of investment, $18 Trillion of Federal Debt is only part of the what $59 Trillion total US Debt?

Do they give a crap about 4% times $20 Trillion?

All Sectors; Credit Market Instruments; Liability, Level
2015:Q1: 59,045.73 Billions of Dollars (+ see more)
Quarterly, End of Period, Not Seasonally Adjusted, TCMDO, Updated: 2015-06-11
https://research.stlouisfed.org/fred2/series/TCMDO

and in 2007-2010, the TAF and other FED Programs for Auction Facility they created all kinds of money for Japan, Canada, Europe, USA, and for Corporations on top of Banks.

Sumitomo Mitsui Financial Group Inc.,Sumitomo Mitsui Financial Group Inc.*,,,,
Ticker,8316 JP Equity,,,,
Includes Loans to:,Sumitomo Mitsui Banking Corp. and Sumitomo Mitsui Banking Corp./New York,,,,
Identified in Fed Documents as:,Sumitomo Mitsui Banking Corporation and SUMITOMO MITSUI BKG NY BR,,,,
Capital Raised From Home Governments,,,,,
Programs,"CPFF, TAF",,,,
Country,Japan,,,,
Industry,Banking,,,,
"Average Daily Balance
From 8/1/2007 to 4/30/2010","$2,783.34 ",,,,
Peak Amount of Debt,"$6,284.30 ",,,,
Peak Date,12/4/2008,,,,

-

Bayerische Motoren Werke AG,Bayerische Motoren Werke AG*,,,,,
Ticker,BMW GY Equity,,,,,
Includes Loans to:,"BMW Bank of North America, Bayerische Motoren Werke AG and BMW Bank of North America",,,,,
Identified in Fed Documents as:,"BMW BK OF N AMER, Bayerische Motoren Werke AG and BMW BK OF N AMER",,,,,
Capital Raised From Home Governments,,,,,,
Programs,"TAF, CPFF, DW",,,,,
Country,Germany,,,,,
Industry,Auto Manufacturing,,,,,
"Average Daily Balance
From 8/1/2007 to 4/30/2010",$735.53 ,,,,,
Peak Amount of Debt,"$4,269.30 ",,,,,
Peak Date,4/2/2009,,,,,

-

Itau Unibanco Holding SA,Itau Unibanco Holding SA*,,,,,
Ticker,ITUB4 BZ Equity,,,,,
Includes Loans to:,"Banco Itau BBA SA, Itau Unibanco SA/New York NY and Banco Itau BBA SA",,,,,
Identified in Fed Documents as:,"BANCO ITAU SA NY BR, ITAU UNIBANCO SA NY BR and BANCO ITAU SA NY BR",,,,,
Capital Raised From Home Governments,,,,,,
Programs,"TAF, TAF, DW",,,,,
Country,Brazil,,,,,
Industry,Banking,,,,,
"Average Daily Balance
From 8/1/2007 to 4/30/2010",$254.03 ,,,,,
Peak Amount of Debt,"$1,210.00 ",,,,,
Peak Date,10/22/2009,,,,,

Tue, 08/25/2015 - 20:21 | 6470800 SeekingNuNormal
SeekingNuNormal's picture

I actually enjoy growing my own food, so looking forward to it

Tue, 08/25/2015 - 16:35 | 6469908 CultiVader
CultiVader's picture

Somewhere 1500 ft below the surface of Lake Tahoe, my pms are smirking.

Tue, 08/25/2015 - 16:39 | 6469909 Md4
Md4's picture

I thought I saw (and did) an incredible Nikkei taste the tip of its first spoonful of reality medicine early this morning. If you were up and watching that, you know what I mean.

Tonight is likely going to be much worse...

China is the representative AND necessary endpoint of warped, western corporate behavior for more than 40 years.

It cannot be wished away, and if it finally breaks down the delusion of "recovery" the Fed and the rackets have fed and fostered, perhaps it'll be a blessing in disguise.

We won't get better until the addict is no longer enabled or in charge.

Step one: end the Fed.

m

Tue, 08/25/2015 - 16:35 | 6469910 DowTheorist
DowTheorist's picture

This is typical primary bear market action. Hence rallies are to be sold.

 

Before the carnage set in, the Dow Theory signaled a primary bear market on October 20 (yes: one day before the ominous Friday):

 

http://www.dowtheoryinvestment.com/2015/08/dow-theory-update-for-august-...

 

Dow Theory Primary bear markets are to be taken seriously. They are not signaled so often.

Tue, 08/25/2015 - 16:36 | 6469914 Goldbugger
Goldbugger's picture

THE PPT HAS LEFT THE HOUSE>>>>

Tue, 08/25/2015 - 16:36 | 6469915 Montani Semper ...
Montani Semper Liberi's picture

Where is Bullard when you need him?

Tue, 08/25/2015 - 16:36 | 6469916 I Write Code
I Write Code's picture

Double-plus ungood.  Can Butterfingers Yellen do it?  Today's reversal, not pretty.

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