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Stocks, Commodities, Bond Yields Plunge As "Rally Fueled By Hope" Crushed
Reuters summed it up (because there really was absolutely nothing at all new from Japan or China)...
h/t @StockCats
While deadlift fails and etrade babies would be appropriate, the idea of pride coming before the fall (as evidenced by so many talking heads in the last 2 days on mainstream media) seemed summed up perfectly as follows (forward to 2:10 and enjoy):
Before we start, let's apportion some blame - Tim Cook...
Oops...
We did warn you...
AAPL better wrap this up soon or the market will flash crash
— zerohedge (@zerohedge) September 9, 2015
But it all started in Asia with some major JPY dumpage (paging Mr. Kuroda) to ramp Nikkei almost 8 ridiculous percent!!
Japan is already down 500 Points from overnight highs...
And the disappointment is a clear inflection point in the markets...
But still higher since Friday (for now)...
We are going to need some more help from Asia...
Dow Futures give us better context for this dead-cat-bounce...
Today's ramp was a perfect stop-run to last week's highs...
With OPEX looming, one wonder how this relationship will change this week..
Still could be worse...
Treasuries extended losses early on as rate-locks dominated amid heavy corporate issuance but as AAPL rolled over and the "hope/hype" faded, bond yields collapsed...
The US Dollar ended unch on the day, driven as usual by EUR, but JPY strength and AUD weakness broke the back of the recent exuberant carry-driven idiocy...
JPY carry momo lost its mojo...
Despite some weakness in the dollar, commodities rolled over as reflation/stimulus hype faded quickly...
With crude crumbling back to the week's lows, closing with a $44 handle...
Charts: Bloomberg
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Thanks Gartman, you're golden. Money in the bank. You made the right call yesterday to sell strength and looked like you actually knew 'momentarily' what you were talking about. Good thing for us, it was only momentarily.
Speaking of Tim Cookoo... The next “profound” product Apple should come-up with is a 60-inch iPhone with a 1-inch hole in the center ;-)
Looney
Only 1 inch? I will need the plus.
GARTMAAAAAAAAAN!!!!
http://assets.vg247.com/current//2015/06/khaaaaan.jpg
Those APPL sellers are just anti-gay!
damn those fruit haters
Wait til they wake up in Asia- see what that crap did last nite? That's what you get, Larry-son.................
That poor Kool-Aid pitcher, I feel sorry for him.
Sex Pistol John Lydon wonders if Hillary ‘really is that clumsy’
http://tinyurl.com/ovgut87
Double post ;-)
Looney
Wall St shouldn't of taken all their meth at once yesterday......
Yes. No matter what your drug choice, use must be monitored. Unless for example your choice is Cocaine and you live in say...Columbia or something. Or if it is Jack, you work there or own J.D. It is just prudent.
fake ass fraudulenbt fucking markets....like the 30 point pop right at the close to come off the lows???
and oh yeah, somebody was really selling PHYSICAL Gold and Silver today too given what we know about the fucking CRIMEx- right???
i dont think so mother fuckers....
Death To The MoneyChangers
STFU Kaiser, I am waiting for cash to hit my account so I can buy some PMs. Dont jinx it... I want to get in at great prices.
Off the lows.
But Apple products now come preloaded with oShit hold music. Perfect for those awkward moments when your clients call asking why you told them Buy! Buy! Buy!
if all after hours trading was banned this titanic would be at the bottom of the mariana trench
Bald headed pilot ... exit stage left. That video made me LOL for long time.
All have a look, it is really good for a laugh.
Pilot got his just deserves, face first into the hand rail. Speed kills. Dumb ass.
I watched that the last time it was posted. That was a wreck I will only watch once.
All it takes is to have that sucker wide open up on plane and take a wake wrong and wham. It looked like it was chine walking a bit he had it wide open and on plane on a bumpy lake.
You even saw him trimming it out too.
Idiots. At least the GoPro got good footage?
pods
no, there was no walldrobe malfunction
Yep. Anyone who has ever had a boat, know you do NOT do what he did. Dumb fuck trying to score with the chickies I guess. Steer IN to the wake dumb ass. And CUT the fucking speed.
Speed doesn't kill. Statistics show speed is only about 5% of total. Stupidity does kill, and hurt as well based on these fools. Same with all the head on crashes from texters and psych. drugs. Speed while doing the right things is no problem, assessment of ability included.
Best boat ride since Lehman!
I like one too:
https://www.youtube.com/watch?v=dGt0RnZcO88
Used to biz there. Hated the place. Thanks for the memories of shit for countries.
Imagine if they didn't have oil .....
Have you seen the fateful drift where one of the "late" participants saw his detached arm almost achieve orbit before it plopped on the asphalt? Drama.
Girls just want to have fun!
"Mr. Clean Bald headed pilot ..."
He has a name ;]
Just like that, the happy times end. The Dow at 15,000 looks to be right around the corner. Or should I say, over the cliff.
Pundits were stunned by the ‘sudden’ correction -- but we know breaking the range was a long, difficult battle:
“Life During ‘Moar’ Time” from “Life During Wartime” by Talking Heads
Heard of a hedge fund loaded with RUT puts, jacked up and ready to go
Found gravestone dojis all over FreeStockCharts, in names that nobody knows
The sound of Cramer, off in the distance, I'm gettin’ used to it now
From those in brownstones to folks in ghettos, they’re long all over this town
This ain’t no party, we ain’t long Cisco, this ain’t no foolin’ around
No time for scale-ins, can’t move my stop-loss, I ain't got time for that now
Transmit my algo, code named “Ward Cleaver,” teach ‘em a lesson someday
I got three ladders and complex put spreads, don’t even know their real name
High up near QQQ’s high, my trucks were loading – this bear is ready to roll
I sleep in the daytime and I trade in the nighttime, just like they do it in Rome
We ain't long AAPL, we ain't long Cisco, this ain’t no V-shaped rebound
Can’t watch no Bloomberg, or CNBC, I ain't got time for that now
Heard about Goldman, heard about Citi, saw the Smart Money surveys
You should know not to expand that window, someone will see all our trades
We got put ratios, some butterflies, roll forward in a few days
But those thrill-seekers, ‘Fast Money’ drones, ain’t got the savvy to play
Why stay in hedge funds? Why play in dark pools? Try something different this time
Can't wait on Yellen, can’t shadow Lockhart, I ain't got time for that now
My confirms transmit, got through my AdBlock, they send ‘em in through the cloud
With twelve computers, we spoof support lines, I know that that ain't allowed
We dress like Tom Keene, we dress like HAZMAT, yellow suit and bow tie
I changed my orders SO many times now, I don’t know which one’s my strike
You get me silver, I’ll fade some TWTR, we make a pretty good team
Don't get exhausted, I'll do the trading, you ought to get you some sleep …
That is one damn clever spoof on one of my favorite groups and songs of all-time. Very well done, Keltner. Thank you.
Thanks, I first downloaded the lyric back in March, but kept avoiding it, thinking it'd be too difficult, but once I tackled the first verse it seemed to flow naturally, with Mr. Byrne's edgy paranoia not being far off from that of short-sellers during the QE era.
Hope? It was the market that realised that the rate hike is a joke. And suddenly, all stocks showed the same patern in their drop, and this drop and tomorrows will be used to defend the cancellation of that hije.
If it where green, it would be a shitload harder to cancell.
THEY are going to RAISE RATES. At least I think they are.
I thought that too until I didn't and then changed my mind so I'm probably not sure now.
You sure about that ?
What?
"AAPL better wrap this up soon or the market will flash crash"
Wake me up when I can have sex with my iPhone and it feels like the real thing. Until then, I'll stick with what I have.
Milton Churchill
Android?
Which model?
You need an Android phone for VR. Crapple got dissed by the VR community since they make shitty products with no gpu power
And they're good to have sex with, too.
I mean, I don't know that, but that's what I gather from the parent post.
VR == Dildonics
Islurp is an idea whose time has come.
That's what happens when you let Henry Paulson's kid drive a boat.
But my doctor told me to have an apple day?!
Those are some nasty looking hammers on the daily NDQ, ES, DoW charts.
Trapped longs just above 20 MAs then took 'em down, pretty standard algo fare after the short-busting rebound. Clearly, they were waiting for this, as volumes were above yesterday's ramp-fest, and above average. So classic, in fact, that some will be rather suspicious ... seemed almost too easy ,...
Was thinking the same Yen, also looks like a double top if this continues tomorrow and Friday.
You're gonna need a bigger hope....
I'm really thinking about getting a tattoo on my chest that says: "DNR, DO NOT RESUSCITATE!".
(that's how hopeful I am)
(whether "bubbles" - Janet - raises rates or not)
(just dump my body so the coyotes can eat it)
https://www.youtube.com/watch?v=1Z142iTYEKo
That ichart left off the "cout de ta" of today's event! The reveal of 11 (count em, ELEVEN!) new watch bands!
I think Treasury yields are rising. So interest rates are going up, everything else will have to come down. The free money rally is about to be over.
(no more hookers and blow then ... ???)
(crap)
....and then, "Apple"....
If one could ask a deceased Steve Jobs what he thought about Apple today, he'd say "I don't give a fuck, I'm dead; you're on your own".
Only looked at the market once this morning, and once this afternoon, good thing i was sober... WTF
Je-zus! Apple is a horrible company. The tech is overpriced shit. The software is confounded garbage. Apple computers are computers for people who don't know shit about computers. Yet time after time they cart this bitch (Apple) out in the hopes of kicking off a rally. GTFO! Hollow company for a hollow country.
its amazing how the last few down days, the ''market'' always comes off the lows in the final minute, yet on the up days, there can never be enough buying in the final minute.
shorters learnt the hard way - you don't hold overnight lol
I will almost trust the fed .0001% more if they don't raise the rates. Something that would almost equal hope, dare I say it.
I will almost trust the fed .0001% more if they don't raise the rates. Something that would almost equal hope, dare I say it.
they are not going to raise rates this year at all.
But never trust those assholes, not even 0.00001%
Fuck it nevermind. This phone is not on my side today. Lol.
Definitely a tool - was looking for tops to fly off though....
wonder if the Tokyo/Wall Street futures Kabuki theatre continues
Actually Kabuki productions are done by skilled professionals. Not like the group of incompetent clowns in most capitals. It is a lot like government in that the women's role are played by men......who are a lot more attractive than the actual female politicians.
One Kabuki actor who specialized in women's roles put off getting married because women were fascinated by him and thought he was harmless. He said it was a paradise for a single guy.(he wasn't harmless) He eventually had to get married and produce an heir.
This is fibrillation - sure sign the market is about to undergo a massive cardiac event. And I don't think the adrenaline is going to work this time.
I luv the clown puking rainbow colored spew.
It never gets old.
Still waiting for the rainbow human centipede.
Oops. Meant if they do raise rates. And swap the word trust with respect. Sorry about that.
I'm beginning to think *it* is going to happen Friday, too. *They* just can't get over the whole 911 thing, can they?
It bothers me like a loose tooth that 9/11 happened on, you know, nine, eleven. Not just for that Lagarde bitch and that bizarre aside about numerology - but it's already primed in peoples' heads in America as the emergency number. 911 what is your emergency? Com'on. Not 9/08, 9/09, 9/10, but NINE ONE ONE?
I can't get over the synchro-magical overtones of choosing a number already synonymous with crisis.
What a fuckin coinkeedink huh?
First VFR day along the coast when everything was ready. It wouldn't have gone down that day if it was IFR and the towers weren't visible from 20 miles away, or the TV crews and helicopters couldn't film anything, or if it was raining. People read a lot more into the date then there needs to be. Computer forcasts are good 5 days out.
Are you aware that these people can control the weather?
911 was chosen for the same reason 9/11 was chosen and by the same club. Nothing coincidental about that. This numerology thing is ancient.
I'm still waiting for my birthday. Nasty crap always happens on that day. Like getting laid off on my 50th birthday. So September 14th it is...
We virgos really get the shit end of the stick when it comes to nasty geopolitical events. My 45th is on the 21st. I remember after 9/11/2001, flying just three weeks later to visit a friend in Florida. No, no nervousness on my part at all, none whatsoever.
oh the gravity.
In 1972 a British band called Roxy Music had a song which was a paean to an inflatible doll entitled "In Every Dream Home A Heartache". 43 years ago. This is in response to Apple product virtual sex posts. (I've always been a Roxy Music fan).
Didn't that (seemingly hot) blonde get unsexier by the moment in that video?
It's interesting just how "protected" western stock markets are. The USD is indicating they should all be down 20-30% at this point.
But Gartman said buy this morning?
LOL
If the pre-market bullshit isn't working, get out!
time stamp 8:51
30Y Treasury yields are up 40bps from the Black Monday flash-crash panic low yields, breaking back above 3.00% for the first time since the end of July...
time stamp 13:12
The short squeeze into 10Y auctions never fails...
Matthew 17:20 Truly I tell you, if you have faith as small as a mustard seed...
The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men. Blessed is he who, in the name of charity and good will, shepherds the weak through the valley of the darkness. For he is truly his brother's keeper and the finder of lost children.
Ezekiel is a badass mother.
moar from matthew: Beware of the false stock market rallies, which come to you in sheep's clothing, but inwardly are ravenous wolves...
pitty the fool who watches cnbc from 9 to 5.
Did you know the new iPhone can capture all that evaporating wealth at a cool 240 frames per second?
Boat crash: I like the sunglasses coming off at about 2:20.
Maybe Tim should just stick to sending emails
The most consistent bear signal, the dreaded Coil-Breakout-Reversed, has now formed again in the last 2 days and is prominently on display in the 5 hour chart, perhaps forecasting another Black Thu-Fri-Mon collapse, and a painful weekend for the long n' wrong crowd:
http://www.investing.com/indices/us-30-futures-advanced-chart
Asian driver??