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Dow Dumps 600 Points From Last Friday's Panic-Buying Ramp, Drops 10% Year-To-Date
Remember last Friday? The Dow screamed 140 points higher in the last hour of the day to "prove" everything was awesome into the weekend. It wasn't! With The Dow down 300 points today, it is now 600 points below those panic-buying highs just a week ago...
It seems the idea of China being open and US closed on Sunday night/Monday is making more than a few nervous.
The Dow is now down 10% for the year and Nasdaq is back in the red...
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All complex systems go into fibrillation just before they collapse....
Yellen is holding the defibrillator and about to scream "CLEAR".
She is looking at the 16000 mark and yelling like this at it ...
https://www.youtube.com/watch?v=V4UfAL9f74I
"Creative Dysfunction"...
The perfect dissonance.
Understand that it is all done on purpose. The entire charade of the markets. No need for the down votes, I'm explaining the process of being groomed for a psychological disconnect by TPTB. Get a grip.
600 in a week? The day is still young.
Yellen better get those paddles fired up before the market close or Tuesday is going to be baaad.
Once you pull the pin, mister grenade is no longer your friend. Something is going to happen soon and it will, of course, be 'unexpected'.....
Who cares. I'm goin joggin.
Now THAT sounds like something Obama would say.
*golfin
This is the exact setup of the 2008 ( Fake martial law scare ) crash, if you don't own gold now your screwed.
Remember the day the congress whores downvoted the first TARP, and the market shat the bed.
Then they had to be reminded who's the real boss. (Goldman/JPM etc.)
Ah yes, wasn't that ol' Hank "Tanks In The Street" Paulsen?
I agree with your sentiment, but I don't think you're screwed until there is no physical for sale. Are we at that point yet?
Well they did prove that everything was OK last Friday or whenever it was. They were right. It was awesome for that brief moment. Then we the collective started to wake again.
Its because of the Chinese markets of course.
Oh wait....
The Chinee market ploblems sis not ploblem of Chinee
It is ploblem of lest of world.
See, China is an exporting nation, so if their economy is going pear shaped it's because nobody is buying Chinese crap.
Meaning that the rest of the world is getting pear shaped and it's contagious a la China.
But WTF, everybody needs a straw-man. And a hug.
Sales of Chinese goods fall China buys less raw materials from other countries so other countries economies suffer so other countries buy even fewer Chinese goods so China buys less raw materials so other countries economies suffer sales of Chinese goods fall China buys less raw materials from other countries so other countries economies suffer so other countries buy even fewer Chinese goods so China buys less raw materials so other countries economies suffer sales of Chinese goods fall China buys less raw materials from other countries so other countries economies suffer so other countries buy even fewer Chinese goods so China buys less raw materials so other countries economies suffer. Oh! Oh!
Strange, I don't remember hearing ANYTHING about back to school shopping. Was it not reported because it was nonexistent?
Now that YOU mention it, didn't see anyone touting sales figures. I DID find this humorous CNBC excuse article on why back to school sales were down.
http://www.cnbc.com/2015/07/24/back-to-school-what-back-to-school.html
"...back-to-school shopping season is less important to their family this year because they replenish supplies year-round." AND it was too cold to shop.
"One issue is that fewer than 50 percent of working-age adults have full-time jobs." They got that right!
To all the sheeple...buy the dip! What could go wrong?
Clearly this is just savy infestors taking a little profit off the table as we head into the long weekend.
Completely normal in our fair, open, honest and normal market place!
Yes, and it has nothing to do with the prospect of rising interest rates. Oh no, no one even pays attention to that!
a 10%-15% correction-- this absente'e sequence from a Re'marketable '7 tear itch' twitch'ing...
am i mising something, about the word 'normal', or is the market a living, breathing anomaly just invented?
just BTFD!!!
Listen and listen well...IT'S ALL CHINA'S FAULT. Qe was a rousing success until CHINA!
http://finance.yahoo.com/news/jack-lew-were-going-hold-100444688.html
Me Chinese, me play joke, me dump all your worthless notes
account that mR. Lax Jew
costco sized popcorn packs? check.
Just arrest anyone who sells their stawks. It worked for the chinks.
Next'll be arrests of those who do not own stawks and haven't been buying. No loss there, eh, Bullwinkle?
A few percentage points of this market will get out with nothing more than a ten to twenty percent haircut.
The rest will try and follow and get wiped out.
Dow down 12+% since nominal all-time high in May.
Edit: roughly 250 points BELOW inflation adjusted 1999 high of 16302 (using BLS CPI, not real inflation)
"Pretty please with sugar on top, now is the time to enter the market".
Can you imagin a wealth advisor saying those words to you ??
I am a high net worth individual and have recently been bombarded by the big bank wealth advisors to sell my metals, mortgage my clear title properties, take my company stored dividends and " INVEST" them in the market.
When you get messages like pretty please, with sugar on top, that tells me the wealth advisors are looking for ANYONE with money to PLEASE come to the market to prop it up.
The scramble is on for the greater fool.
Buy the dips, is the mantra.
Give me your money so i can get out is the motive.
On that note, one of the current top stories (links) on CNBC states "96% chance higher market in 1 year".
It really is beyond, "It's just business." These a fucking terrible people.
Tobias Levkovich... he also said there's a 98% chance I'm a reptile
I bet he can tell you the weather this time next year, too.
My problem with chart investors is that the assumption is that the conditions are always the same and the patterns will repeat. While I will say there is some point to the psychology of the markets, the reasons for buying or selling matter a whole lot more. If it is a World War III maybe the patterns will not be the same. If it is merely a normal tick up or down in economic forecasts, maybe they will.
We understand that herds get panicked and stampede but we can never be sure why, what direction they will go or when and where they will stop. The charts only tell you after the fact and then it is highly debatable as to the exact causes.
How many debates have we seen here on the reasons for the 2008 crash?
Looks like Blythe is holding up the price of Bitcoin today. The problem with that article the other day on Bitcoin and capital flight from China is that it didn't take into account all the US, EU and Austrailian Bitcoin holders in Hong Kong and China getting their F'n bitcoin out of China/Hong Kong exchanges and into cash.
See the DJIA and SPX struggling to remain above their 15 month chart support levels at 16,000 and 1900, now just 64 and 16 points away: See them achieve new 15K and 1800 handles within minutes, or soon, or on a black Monday:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=DJIA&insttype=&freq=1&show=&time=9
The flash crash of '15 is on deck. Watch for a 25% down day this month, followed by a few more huge down days that takes the Dow Jones back to 10k. Then there is no saving the fiat ponzi and it sinks from there into oblivion.
Get your popcorn ready.
25% Can't happen. Level 3 circuit breaker would kick in at 20% and that would end the day. Have to settle with 20%
It doesn't have to do anything. If the "market" vaporizes there is no circuit breaker thaat can do a damn thing to stop it.
Holy shit, there are STILL herds of bottom guessers. This is crazy. The bulls have NO respect for this market. Every 5 points lower sees a (failed) attempt to pump. It simply HAS to crash now. Just crazy. So many people in denial. They're all going to panic at the same time... 1500 points lower from here...
alot of stop loss orders at 15,666... then we really plunge
The inside players can position to weather a sharp correction which would then create headroom for another ramp.
It is more difficult however remain profitable in a long term flat as we are experiencingb) or bear market.
To know the future simply know what benefits goldman.
Sheesh, everything is fine until it isn't.
It's a bold fucking move, staying long or buying into the long weekend, with China coming back from an extended holiday on Monday with the US markets closed. You have to REALLY have faith in those Chinese buyers. But I don't know - are the cheerleaders pointing this out at all?
I think Gay Bob is already on the ferry to Fire Island...
BTW, I think we're seeing a bit of a protection cascade at this point. (analagous to the 87 crash portfolio protection fiasco)
The VIX and ultrashort ETFs simply weren't as well known in the 2008 rout.
This time around I think the huge buying in these (and the resulting squeeze) has pumped up protection prices to the point where larger players simply haven't been able to hedge effectively.
So, they sell equities.
Which is forcing protection prices higher and prolonging the squeeze.
So they sell more equities.
Etc.
If VIX starts going parabolic this market is toast.
I think VIX is really forcing the momentum here. Big players are going to panic as it rises, particularly since they had no protection coming off the VIX lows.
With no more volume than is showing today, should be easy for ppt to ramp it green into the close.
Should crash into close, down at least 1000.
VIX protection cascade. This is a rerun of 1987 but with different instruments.
that would ruin alot of Hampsteins dinner parties this wknd, won't be allowed.
-2% on a friday is a good indicator the FED has lost control
Damn! This happens after I buy my DOW 20,000 hat?!?! FML.
I doubt you want to be long going into this weekend.
What time does the ramp start?
Aaaand gold goes ...down, some more.
But those jobs datas were fine...