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VIX Spikes As Stocks Suffer Biggest Annual Loss Since 2009 On Passat Purge
The message from the markets...
Year-over-year, The Dow is down almost 5%, its biggest such decline since 2009... not that once the YoY trend turns negative, it tends to persist... (Dow is unchanged since Dec 2013)
Futures show the pain really began when VW hit the tape early in the European session...
On a side note, DAX is now down 17% since Draghi began Q€...
But then again... maybe it's just EURJPY carry once again running the entire risk-on/risk-off show...
Stocks tanked on the day... with some Papal Panic Buying the close...
Dragged into the red for the week...
Since Yellen lost all The Fed's credibility...
And the year... It appeasrs everyone was desperate to keep the Nasdaq green in 2015 dream alive...
VIX jumped over 17% today - its biggest move since Black Monday
With an epic fat finger at the close...
High Yield credit cointinues to flash red.. and stocks are slowly figuring it out...
Tressury yields collapsed even more than they spiked yesterday...
The Dollar gained ground amid EUR and AUD weakness...biggst 3-day USD Index rise in a month Once again the pattern is clear - USD selling pressure during Asia, USD buying (EUR selling) during Europe...
Commodities slipped on dollar strength and china growth fears (after ADB)...
But crude's utterly insane melt-up intop NYMEX Close (not unusual) is just becoming farcical...
Charts: Bloomberg
Bonus Chart: Beware The Papal Visit Omen...
Bonus Bonus Chart: This one made us think maybe it's Time for Gold/Dow again... perfect roundtrip from Lehman to End QE3...
Bonus Bonus Bonus Chart: Thinking out loud - but something broke in "currencies" when China devalued...
Bonus Bonus Bonus Bonus Chart: Still climbing?
I think they got this idea from me pic.twitter.com/1BVfXSpxNR
— StockCats (@StockCats) September 22, 2015
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The best part is the baby faces :)
Loss of cabin pressure...
This could have been really bad.
We are off the lows!
RTFR!
FAHRVERGNUGEN !
all about the timing...
luckily US made cars and engines are such good model citizens when it comes to fuel economy or toxins
whatever.. they needed an excuse to crash the markets. Who would have thought that they would use this VW story to take a dump on the DAX and flush the last functioning economy in Europe
war is next!
Okay...I have to confess...that is the funniest alignment of pictures for an article on the homepage I have seen this year.
Kudos!
(seriously...check them out one at a time...)
/still smiling...
Or double down and just sign and drive.
return your seat backs and tray tables to their upright and locked positions, this is gunna hurt.
"Brace for impact!"
Not a Catholic.....but could it be once "Papa" comes to town....the demons fly the hell out of the market ?
Or is it, by the time Papa comes around as a mouthpiece for the evils of the love of money.....the top is already in.
Curious correlation none the less.
Maybe the pope wants to address congress that he can't insider trade like they can.
WHen all the bullshit fails, we should call in more bullshit? WHen the lies don't work, lie some more. When it is the end of the game, throw a hail Mary.
Deflate that fucking football and throw it as far as you can. It ain't gonna matter.
Vix almost hit 50 sheesh
Sir Isaac Newton selloff?
Is Ebola still in focus?
I remember getting down voted pretty badly when I dared voice my skepticism about all the scare mongering.
Dang, and it wasn't the plague they made it out to be.
Sadly. It could have really wiped out some niggers.
Welcome back Trav
The BTFD's sure are a pesky bunch, like a pimple that won't go away. Squeeze enough times though and eventually they will all pop.
....plus the BTFD's are empty headed morons that blindly follow the Pinko Fascist Commie Feds whom they worship and drop to their knees for. What a disgrace the BTFD's are to the human race...
Fat finger is a signal. Sell everything.
I was worried Kevin wouldn't step up to the plate and ramp it thru' VWAP for me but I shudda node better, he rarely lets me down.
Gold/USDBRL divergence....I like that shit.
Worst Black Tuesday EVA!
Investing globally, many Brits are trapped at US equity highs, though they’re much more polite about it than we’d ever be:
“Mrs Yellen, You’ve Led Us to the Slaughter” from “Mrs. Brown, You’ve Got a Lovely Daughter” by Herman’s Hermits
Mrs. Yellen, my stocks are under water
Declines as sharp as that are something rare
But it's sad, she’s not as dovey now
She’s made it clear enough, it ain’t like in ‘09
We just want returns for stocks we’ve bought now
Tell her all the sheep think it’s a shame
Things have changed, she’s not a dove now
She's made it clear enough, I think she should resign
Hawkin’ about, her head up in a cloud, well
We’ll kick her out, market’s broke, I feel so down
If she finds that SPY hit 182 now (182 now)
Tell I’ve been long since 209 (209, ooh)
Don't let on, don't say she broke my chart
I’d ask for a short squeeze, but it’s no good to whine
Hawks are about, even in the FOMC crowd
We'll kick them out, market’s broke, it’s goin’ down
If she finds that I've been 'round to see you ('round to see you)
Don’t tell her from Monday’s bell that stocks declined (big decline, ooh)
Don't let on, just say I threw a dart
Won’t get down on my knees to look her in the eye
Mrs. Yellen, you’ve led us to the slaughter (to the slaughter)
Mrs. Yellen, you’ve led us to the slaughter …
Yellin hasn't led me to any slaughter, she and her cohorts will be the ones who end up dangling from street lamps, not me.
damn it sheepdog, damn it..you know they sleep well at night, nobody is gonna touch em, daybe in the club.
you know that as well as all of us..reptiles one and all have the game well in hand. we are still much to fat and happy, years of misery awaits us all.
got a down vote for having assets, I am the enemy of the good sheppard Pope.
Yes, thanks. We've been "browned".
It hardly seems a fair exchange: you give us the world's best sporting events in 5-9 Premier League matches per week on NBC Sports, and we give you Fed-fueled psycho-markets
+100
Funny as hell. I think you have posted others in the past.
Thanks, just counted, and it's ~160 parodies YTD, scary how time flies as you get older, feels like I've only done a few dozen ...
Just wondering if the Pope meets Janet Yellen which one of the two genuflects and crosses themself?
That would be a pair. The anti Christ and the root creator of all money
I hope they both burst into flames!
Pope holds out his crucifix at arms length, shouts "Get thee hence Satan" Yellen and half the priests in his entourage collapse to the floor.
Half?
That's generous.
I'm in a good mood today.
Maybe you could "QE" that out to a few more days...
"Cross the streams"
"But you said, 'Never ever cross the streams' Egon."
Yellenator breaks out into an impromptu stigmata, rips off her habit, and bursts into flames.
First the PPT in da houze,and now Da Pope in Da houze...Pray Tell,What Next?
Bernanke is very proud
Papal Visit Omen ... That is hilarious.
Lighten up, Francis!
But it makes sense. Everywhere around the world it's about to hit the fan. His holiness, sensing the Immanent disaster, makes his rounds to try to attenuate the oncoming nosedive. Not just the markets: The shit ass attitudes, the piles of government policy failures, wars every damned place, rampant elitist crime, etc.. So now we can count more on the Pope than the Fed for market guidance. I guess that's some good news in a world with a shitpile of bad news.
Who in their fucking right mind would touch anything in this "market" with a ten foot barge pole at this time, at this juncture after all the QE jizz has been shot all over the Fed's humpty dumpty shit show?
I mean, c'mon. Really!?????
THIS SUCKER IS GOING DOWN HARD!!!!
The calendar will be proven right once again. There are NO exceptions to the rule.
September 23 2015 tommorow...
Watch out!
Gold options expiry on Thursday.
You ever notice that 9 times out of ten, when the dow approaches -300 some enigmatic force keeps it from falling below -300?
If I didn't know better, I'd say the markets are manipulated
Have a look at the FTSE on an important day.
The FTSE is the market that other corrupt marketers look at and say... Now that's a corrupt market!
Did anyone see Bullard on Squawk Box yesterday with a look like he saw a ghost? Crumbling under pressure from Fed Naysayers he looked at one point as though he were going to literally cry on the set. Then going so low as to mention the name and comments of Jim Cramer? What does he know that we don't?
PPT will be hard at work after hours..or yellen is well yelling. the pope hates money (although the church seems to have alot of assets), so I should say the pope hates You being rich..so damn it socialism it is and fuck anyone with assets.
Los Angeles declares a state of emergency over the army of homeless in the city.
http://www.latimes.com/local/lanow/la-me-ln-how-los-angeles-homeless-crisis-got-so-bad-20150922-story.html
Mah stawks! Muh precious STAWKS! :(
Its nice to see that no matter what the 'market' does, up down or sideways; 'precious' metals continues percipitously lower.
http://www.bloomberg.com/news/articles/2015-09-22/chart-watchers-zero-in...
Chart-Watchers Zero In on More Warning Signals for U.S. Equities
by Anna-Louise Jackson
September 22, 2015 — 12:00 AM EDT
- Technical analysis patterns suggest further weakness ahead
- Head-and-shoulders, Dow Theory point to shifting trend
Equity investors rattled by last month’s correction, the prospects for the global economy and the Federal Reserve’s interest rate policy can add a few more reasons to worry.
Several technical charts are sounding warning signals that the worst of equities turmoil may not be over. So is the market headed toward another selloff? It may depend on how much stock you put into such omens. Some investors see technical analysis as only so much voodoo, claiming past market patterns give no insight into future movements.
The latest signals come after Wall Street early last month was fixated on another chart -- the “death cross,” in which the 50-day moving average of the Dow Jones Industrial Average fell below the 200-day average. The two lines crossed on Aug. 11, and less than two weeks later the gauge dropped 10 percent in four days for its first correction since 2011.
With that in mind, here’s what the chartists are seeing in the latest batch of data:
1. A downward sloping neckline in a head-and-shoulders pattern:
The Dow this year has formed “probably the most famous pattern in technical analysis” -- and it’s not particularly encouraging for stock bulls, according to Murray Gunn, head of technical analysis in London at HSBC Holdings Plc.
A so-called head-and-shoulders pattern is a formation comprising two peaks separated by a higher peak. This particular one -- marked by shoulders in March and July and a head in May -- could be “the first crack in the dam” and is special because of the rarity of its downward sloping nature, he wrote in a report Monday.
“It’s a bearish pattern which could be signaling a new bear market trend,” Gunn said in an e-mail. Investors should watch for increasing volumes on down moves in this benchmark index as the next indication that sentiment is becoming more negative, he said.
If the Dow -- which climbed 0.8 percent to 16,510.19 Monday -- were to trade above 18,137, a level last seen in July, that would provide more optimism, he said. Otherwise, “a new long-term and potentially powerful bear market has started; one that should end below the 2009 low.”
That low, on March 9, 2009, was reached after a head-and-shoulders pattern occurred during 2007 and 2008 at the start of the financial crisis, HSBC noted. The date marked the beginning of the current bull market.
2. Dow Theory sell signal
The signal that’s “causing the most angst” for Jeffrey Saut, chief investment strategist at Raymond James Financial Inc., in St. Petersburg, Florida, is one that happened last month.
When the Standard & Poor’s 500 Index fell to a nearly 10-month low on Aug. 25, two other indexes were below an October 2014 low that many chart watchers were closely monitoring. The Dow Jones Industrial Average and Dow Jones Transportation Average both breached this level, flashing a so-called Dow Theory sell signal. Such a signal occurs when the industrial and transport indexes fall below the low of a previous selloff.
What’s behind this angst? There’s only been one false Dow Theory signal in the last 18 years, Saut wrote in a report Monday, which gives him “cause for pause.” There is reason for optimism, he said, because that one false signal came in May 2010 during the so-called flash crash -- the last time the 30-stock gauge lost 1,000 points intraday, until it happened during the market upheaval in August.
Saut said he hoped this latest signal will prove faulty as well, but that if these two gauges breach their Aug. 25 lows again, this “suggests a change in trend that must at that point be honored.”
Another reason for optimism: the S&P 500 has yet to breach its October 2014 trough. True, that index has nothing to do with Dow Theory, Saut points out -- chartists may want to create a new theory.
Uruguay kills TISA and rejects corporatocracy
http://wolfstreet.com/2015/09/22/uruguay-does-unthinkable-rejects-global-corporatocracy-tisa/
Exposes what is in secret TradeInServicesAgreement.
VW situation just political distraction? Would be mooted by TISA??
Lloyd Blankfein's name needs to be one of the names on the bricks.
DJI 6900 coming. For those in "paper' beware. The rest of us,...keep stacking.!
AS soon as everyone caought on to the scam they had stop. The alternative media will have to be shut down if it continues to thwart there missions.
Everyone??
Not even 10% of people even question anything is out of the ordinary or other than the government scripted narrative.
Tylers, I love you guys, but you have to stop making any hay out of the "fat fingers" you see in charts. Take it from a data guy, these are simply spikes in the data feed and don't represent actual trades. It's just junk data.
Explain more....
it's noise, nothing more. It's been explained. Look at the 10 year chart and how small a blip all moves in the last 60 days have been in comparison.
http://www.afr.com/markets/is-more-quantitative-easing-needed-to-see-off...
Is more quantitative easing needed to see off the next chapter in the GFC?
September 22, 2015
By Philip Baker
The hubbub over the US Federal Reserve's move to keep interest rates on hold has threatened to reveal another theme bubbling along in the background: if the central bank believes it can't hike rates, maybe it has to do more to stimulate its economy.
That's right – another round of quantitative easing.
It's been just over three years since the Fed embarked on QE3, the purchase of agency mortgage-backed securities to the tune of $US40 billion a month. The central bank then followed it up with Operation Twist, which was selling short-term bonds and buying longer-dated bonds to the tune of $US45 billion each month.
The aim was to drive down long-term borrowing costs.
Now there is talk of QE4. In the past, any talk of cheap money has been manna from heaven for Wall Street. But given that it has never really delivered the boost the real economy so desperately needs, investors might have a different reaction this time around. After all, if the economy still needs help, maybe something else is needed.
What has made investors nervous is that the Fed is now unclear about the future. If the Fed really is the "the only game in town", that's a scary position for a central bank to find itself in. Just ask Japan.
Maybe that's a major reason why, in the lead-up to the most anticipated Fed meeting this month, Lawrence Summers, the former US Treasury secretary, and Ray Dalioi, who runs the largest hedge fund in the world, both made the case for the Fed to think about dusting off its quantitative easing playbook to debunk deflationary forces and calm financial markets down.
It comes as some hedge fund managers are placing bets the Fed will be forced into another round of QE thanks to a crisis in emerging markets that will cause a slowdown around the world and stop short the recovery in the US.
The plight of emerging markets was put in focus last week by the chief economist of the Bank of England, Andrew Haldane. In a speech he suggested that the fallout investors have witnessed in emerging economies over the past few months could be viewed as the third leg of the global financial crisis.
The first leg was 2008 when the US sub-prime mortgage market sparked a credit squeeze and capital markets seized up which eventually led to the default of Lehman Brothers.
The second leg was the ongoing saga surrounding the eurozone break-up that caused a savage selloff in sharemarkets in 2011 and 2012.
Haldane thinks that all the cheap money from the advanced economies, which was designed to boost their own economies, has found its way into emerging markets, which has led to an unsustainable credit boom.
All the cheap money has gone into the wrong hands. Business has been gun-shy but the companies that have stepped up their borrowing are from the energy and mining sectors and this is now an issue in credit markets.
Throw in the rise of the US dollar and the fear of a Fed tightening and it has turned this boom into a bust amid a collapse in commodity markets.
Welcome to the next chapter in the GFC.
Of course, the Fed can't cut rates any more, but it's worth noting that when there is a recession, central banks normally cut rates by anything from 3 to 5 percentage points. It goes without saying you need rates to be that high in the first place and it does put in perspective that the Fed can't even get rates to rise by just one quarter of a percentage point.
Haldane thinks that another round of QE won't work and risks "blurring the boundary, however subtly, between monetary and fiscal policy".
He also thinks that if a central bank buys government debt on a permanent basis ,"it has implications for the quantity of debt the government needs to issue" and would put a question mark over central bank independence.
"In short, as QE becomes permanent, monetary policy credibility heads down the most slippery of slopes." he said.
Where's the ZH "silver crash!" post?
Ignore when silver goes down, party when it goes up, the zerohedge way.
Fuck the Dji.
EUROPE IS BURNING ,...and soon coming to Amerikaa.https://www.youtube.com/watch?v=BvyhrrwjjCk
Time to get some marshmallows!
pffft.
A meaningless entry point for the elite to rob people while getting a few dollars.
Who the fuck cares if VW tweeked the emissions requirements. Its all about Agenda 21 and the Marxist Pope arriving into the United States.
We watch Down Jones manipulate the markets everyday, do we ask for a stock recall?
My Dad Is Dead - Open Wide
double winshite post.
Volkswagen Admits 'Defeat Device' On 11 Million Engines Worldwide, Sets Aside $7.2B
http://jalopnik.com/volkswagen-admits-it-cheated-with-11-million-engines...
Let's see - VW, Glencore, Petrobras, EMs in general, China...
Hell, we may finally get a trigger to get this crash going. Get it over with, flush the speculators, break up anything "too big to fail" this time, and start over.
Love the bonus charts!!!!!!!!! ZH is a great site. Was in cash except for a 10% TZA since yesterday morn....out for now...
Wave 3 down commencing and will prove to be a bitch. See you at spx 1700.