This page has been archived and commenting is disabled.
Stocks Slide On Dreary Draghi, Crude Clobbering, & Brazilian Battering
Who is responsible for all this? Janet - what say you?
And why she needs to pull an emergency rate hike to calm anxious markets...
Before we start on US markets, a couple of under the surface things that happened... There has been a bloodbath in Greek banks this week that has been underway...
The Brazilian Real is collapsing-er...
With a total meltdown after the close...
The late-day plunge appears to due to impeachment comments:
- Brazil’s lower house President Eduardo Cunha will address questions on impeachment procedures in response to opposition request, opposition lawmaker Mendonca Filho says.
- Key to impeachment process is whether Cunha accepts or denies impeachment request: Mendonca Filho
- Opposition needs to consider its next steps very carefully, should meet on the matter: Mendonca Filho
- Lawmakers have up to 5 sessions to appeal if he denies impeachment request: Mendonca Filho
- Congress will kill govt request to re-introduce CPMF tax: Mendonca Filho
The Nasdaq Biotech index broke key support today...
Meanwhile, The S&P 500 Put/Call Ratio has surged 12% in the last 5 days - the biggest such surge since 2009... (after which the S&P fell 9%)...
Quite a rollercoaster day today, as futures show, a big dump on China PMI disappointment, a ramp on weak EU data and Q€ chatter, and a drop on Draghi dreariness...
Cash indices all closed lower as Nasdaq tumbled in th elast few seconds to red...
Leaving indices all red on the week...
And down hard since The Post-FOMC Peak...
Materials are the weakest post-FOMC, Utes the best (thought still red) and Financials down around 4%...
And ahead fo Yellens peaking tomorrow, VIX term striucture slid lower...
Credit continues to tumble...
Treasury yields trod water in a very narrow 2bps range today...
But The US Dollar tumbled after Europe closed (having held in steady until then).. JPY strength and AUD weakness (biggest 3-day drop since January) most notable...
As is clear AUDJPY was the overnight driver of equity correlation algos, then EURJPY took over to the EU close, then USDJPY was back in charge...
G182
Commodities generally drifted higher on the day as USD limped lower... apart from crude's collapse...(which oddly retraced perfectly to gold for the week)
Crude has been moronically algorithmic this week (once again)...
Perhaps this is why...
Crude inventories fall → oil prices jump → cash-strapped producers ramp production → crude inventories rise → oil prices drop → repeat ?.
— Mark Constantine (@vexmark) September 16, 2015
Charts: Bloomberg
»
- 18960 reads
- Printer-friendly version
- Send to friend
- advertisements -
SSDD
NASDAQ death cross...batter up!
In memory of Lawrence Peter “Yogi” Berra (May 12, 1925 – September 22, 2015.
“You should always go to other people’s funerals, otherwise, they won’t come to yours.”
RIP Coach. Keep 'em honest.
Bring on the budget talks and shutdown.
.2% is a slide now?
never "off the lows" again..
back to 666 and even if it takes a couple years
how much fun is it to hold?
It's a start. Watching the ticker, it looks like even the algo's are unsure what to do and it'll only get worse in October as 3rd quarter reports start coming out and the bond makret begins barfing its guts......
"Evolution is hard, but it’s a necessary part of our journey," Williams said.
http://finance.yahoo.com/news/groupon-laying-off-1-100-135029064.html
"We evolved some folks."
and yet,the can is just down the road...again..today
Yellen is peaking tomorrow? Now there's a vision I could do without.
Mr. Yellen once dryhumped my leg. It's cost me 30k in therapy to be able to speak of it.
I know what yersayin.
“You Hawkish Thing” from “You Sexy Thing” by Hot Chocolate
(Planned to use this if the Fed hiked rates, but rather than wait until 2038, thought I’d post it now.)
I believe in miracles !
Where’re you from, you hawkish thing? (hawkish thing, you)
I believe in miracles
Since you lifted off, you hawkish thing
Where did this come from, Janet?
How did you know I needed you?
How did you know I needed rate hikes so badly?
Was tired of bulls throwing darts madly
Yesterday you were one of the dovish people
But I guess you overdosed on Keynes
So you’re hiking rates for me
I believe in miracles! Where’re you from, you hawkish thing?
When did you channel Wayne Angell?
But please don’t say it’s ‘one and done’
Did you know this helps everything I trade for?
Fading bonds on the CME floor
Every day, freakin’ doves hurt my short action
But now you’re spiking rates for me
All the way to 0.003 (!)
I’m not being satirical -- Where’re you from, you hawkish thing?
Oh, lift-off (you hawkish thing); hike it, baby (you hawkish thing)
I love the way you tighten, darlin’
Aw, it’s ecstasy (you hawkish thing)
Yesterday, I was a lonely bond vigilante
But now you’ve screwed PIMCO’s Q3, by hiking rates for me
I believe in miracles !
LMAO, well done
"markets", LOL!
Yep, just like "free" sex......
Many folks receive their monthly pay next couple of days. My notes for tomorrow remind me we'll be entering the bullish part of the month.
Quarter-end window dressing next week. Gold options expiry tomorrow.
Over the last five years, FXI (China) is down 17%, EEM (emerging markets) down 26%.
During the same time US financials are up 55%, Internet stocks up 125% and Biotech up 282%.
And every day we hear about how out of control emerging markets are, how big a bubble they are, what a mess their economies are, while we do nothing but day trade, scheme, and consume their manufactured products and resources.
So where's the bubble, really? This doesn't end until the rest of the world pulls the cord on the dollar.
New low for the HUI-gold ratio.
Triple witching blood moon eclipse coming up sunday ...fyi
shhhhh everyone thinks it is over. I am hoping it works when nobody expects it.
8 to 1 ZH completely misses reporting on a drop greater than 1%
I wonder if The Pope BTFD.....
Boys To Fuck Daily?
Countries whom also make petrol are probably making a killing now. Russia, China, USA, etc. Cause here in Canada, the prices for petrol are going up. In Calgary, a jump from 96.9/L is now 106.9/L simply because of some sort of equipment malfunction at a petrol plant "south of us" (USA since our petrol plant in Alberta is in Edmonton. North of us).
We are getting screwed. Yet, I heard in Russia, they dropped the prices of petrol greatly but exporting it at quite the profit (hence why the oil companies in Russia are churning out big profits even after a drop). Jesus, our Canadian government is stupid for selling our petrol plants away and become more dependent on importing from USA....