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For the first time October 15th, S&P 500 cash has broken below the key "everything is awesome" 2,000 level...
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Jerry
Clean up on isle 2
Yellen and crew surely expected some decline/market turmoil and if this is it (past few days) then they are likely satisfied they can raise, 10Y says they will. 2 month drop in the S&P is not that historical.
< --- Key technical support level!!!
< --- Most important jobs number EVER!!!
[Which mouthbreathing bullshit fantasyland manipulated/fabricated indicator is more retarded]?
I don't understand why everybody's so upset.
It's simply a Temporary Disturbance to the Force
Classic, Perfect Analogy. Many thanks to John Clesee
https://search.yahoo.com/yhs/search?p=youtube+dead+parrot+sketch&ei=UTF-...
Sounds like a good time to raise rates and drain all that excess liquidity.
pods
i'm betting the market broke at 11:43a
Not sure about a broken mkt, but got out of my TZA just before that at 11:40, thus far seems to be a good move, can't explain it but something seems a bit fishy about this plunge, as if it's merely a setup to boomerang a ramp back towards the mean-reverters' target of a central 20-DMA before Yellen's presser. Of course, could be a pause-reload before a 2nd leg down, but don't think it's in the cards today, hope I'm wrong for the sake of those with longer term shorts.
Likely done for the day, but as always best of luck to other daytraders, as they say "be careful out there."
& the ^^^idiot of the day^^^ award goes to??? (picking up counterfeit paper pennies in front of the steamroller after watching the Kevin Spacey commercial on the tablet computer at the driving range)
NEW YORK (TheStreet) -- Baker Hughes (BHI - Get Report ) stock is plummeting by 8.79% to $43.60 in early-afternoon trading on Monday, after rival Halliburton (HAL) indicated that it will drop its bid to acquire Baker Hughes if the government is not clear about how to win antitrust approval, the New York Post reports.
http://www.thestreet.com/story/13396607/1/why-baker-hughes-bhi-stock-is-...
" Yes we can. "
Assumed my ZH history made it clear I was a mom-‘n’-pop Russell daytrader.
Don’t know you, Pope, but have a feeling if you’d closed an index short within a few mins of the potential low of the day, followed by a massive 200pt Dow spike, you’d be back braying in all-caps.
But, as it took 4 yrs of 70-hr weeks to teach myself how to do this, after being laid off from a less ‘idiotic’ career, I realize the lows could easily be revisited. In the end, my purpose, after seeing a standard ZH headline, was to give an informed opinion, with caveats, designed to help newbies in the profession have a more profitable day. Enjoy the holidays, Your Holiness.
(Went long via TNA, 1/2-position ~1:15, target high of day, stop about halfway back toward low, big day if it works, just above B/E if it doesn't, will trail stop tightly after any forward movement, if any, another difficult trading day, thanks to the Fed ...)
Yellen will make it all right at the FOMC clown convention.......
FED RSV meet fork...
Death throes, bitchez.
The Federal Reserve has already lost credibility and relevance. Nothing it does on Wednesday will change that.
Actually, it will make its lack of credibility and irrelevance all the more obvious to see, even to those who cannot or refuse to see.
What is this Federal Reserve you speak of? Let me look in the dustbin of history.
Agreed. But the Fed can still make the entire world dance. That's the power of the printing press......with sincere apologies to Gutenberg.
Nope. For the first time since the 1930s, the Fed is damned if it does, and damned if it doesn't, no matter what it does or doesn't do.
Janet & Company are irrelevant because other geopolitical/economic events will supercede whatever they decide to do. These bankers have also already rendered themselves discredited, because either a raise or a hold (or worse - NIRP) exposes their nakedness. Not that any of us wish to see that literally. Figuratively is fugly enough.
Good Lord! Janet Yellen in the buff.
Egads!!! The Empress has no clothes...
Spoctor Din
OBTW: PMs are stuck to their trajectory like glue.
So if the Fed turns on the printing press that will be irrelevant? People won't chase the money?
Maybe we are speaking different languages here. 'Credibility' is in the eye of the beholder. While the Fed is most definitely losing credibility they can still make it rain money and therefore people dance in the rain. Credible or not, they still have the power of the printing press. And when things get ugly people will beg the Fed to print moar and moar.
Hey Cog, you're right, we all know this party is almost over, butt while the music plays, the suckers must dance.
Me, I've been making popcorn since '99. I'm poor, but I sleep well and have no debts. Everybody that continues to play this game is nothing more than a tax mule for TPTB.
STOP PLAYING...
Spoctor Din
C'mon, CD. You've been around this rodeo for a long time. We always knew there would come a day when not even helicopters full of money would be sufficient.
That day is two days away now. The time for getting the cash and making a run for it is passed.
Lock the gates and bar the doors. Redemptions? I got yer redemption right here, pal.
So where exactly was this Fed power during the last two market crashes? Were they able to support the markets then? I think not. I do believe another of those days is in the quite near future. The Fed is making the situation worse as we move along through each crisis. Eventually they will loose complete control which is very likely to be this next time around. Total loss of credibility will hopefully lead to withdrawal of all Fed power with the exception of their original role of clearing commercial bank transactions and lender of last resort to those same banks at penalty rates against hard collateral.
Grow the fuck up. In real terms the world is well into NIRP. So long as the majority of people still accept the Fed's paper/digital promises in exchange for their labor, the Fed and their owners are in no danger whatsoever.
Now, should the producers of essential commodities stop accepting those paper/digital promises, then we get global Weimar and start killing each other in earnest with major banking and financial sector heads bringing a large bounty.
I hope that wasn't intended for me, because I don't take advice from people on the Internets.
I've grown the fuck up, too, BTW. I think that's my problem. I became an adult, surrounded by those who are my physical age but mentally haven't escaped puberty.
Yes, most people are morons (by design). Since you are an adult, then you know that nothing will change so long as FRNs are still accepted. Barring a real world war, the standard of living is simply normalizing for the vast majority of the population as the world slips back into a neo-fuedal system. More than ever, private clubs/tribes/oligarchs becoming more relevant as that which cannot be sustained (global debt/fiat ponzi), won't be.
predatory and prey etc. evolve or die etc.
same as it ever was...
Janet turn those PPT machines on.
you should see what it would look like if they werent on right now.
Remeber folks. This is a FED week. They will do everything to keep the market flat until close of day Weds. After that, I expect blood sometime late Friday. Next Monday or Tuesday could be kinda interesting.
If you aint out, get the phuck out now! TIMBER
Is it going to be THIS ZH article that signposts the interday bottom?
Yes. same as it ever was.
Haha! It seems you said this at the exact interday bottom. Good stuff.
I have warned people about this time. Most shrugged it off. Let it drop. I have a clear conscience.
I recalled that JP Morgan was getting his shoe shined. The shoe shine guy was giving him stock picks. Morgan immediately went and sold his stocks before the crash.
My supervisor who I hate told me never to talk about the economy. Well one day out of the blue he said the economy looks great. This was back in July. The next week i sold half my positions in everything.
We are off the lows.
lol
Key EU markets (all) taking the afternoon dive?
Just wait until it hits that greased spot - then you will see it slide.
What 'bout Art Cashin's "turnaround Tuesday"?
Book of face just went red, next up! AMZN, COME ON DOWWWWNNNNNNNNN!!!
This is a small copy of the volitility in Aug. 2007. Right after the first Bear Stearns crack with High Yield, the S&P broke and the Bid/Ask was 20 points apart and they were both getting filled every 5 seconds. People were caught paying 200 Dow points to get into and out of the market.
That appears to be on its way again. Maybe even worse now. Hedge Funds worth Billions were being carried out. Be careful. Each print was 200 points apart and lasted hours.
PPT taking an early lunch. We will close green today.
The worse the manipulation the worse the crash is...Frank - Dodd ...ha ha ha crock of shit.
Frank loves his franks, or twinks, or whatever you wanna call it.
I heard your taint took a pounding friday...
Oh it did, but I was smiling from that, unlike my bond fund... I also got a lot of gooeyness in my beard...
Achtung! Achtung! Neeeeeeein!!!!!!
Next up...NIRP!
Going full retard!
we'll probably settle into a range here. rate hike cycles are usually beneficial to stocks after the initial shock and i think we are there. inflation is robust in non-energy categories, which suggests economic growth. the high yield market needs to come in, chasing yield is no longer an option. the real problems are structural, more automation and outsourcing of jobs. people have no money, no savings, thats highly deflationary.
Always buy the dip when ZH post a doom and gloom. It's like clockwork!
Well, yes, for many occasions in the past with the PPT using unlimited feral reserve digits pumped through trade platforms like G-S, but things have changed a bit. The whitewash is only good as long as the walls are still standing.
The HFT system makes money from each trade, a little at a time, front-running other trades. In order to get the most money out of the fake market, they need to have many trades. That means there must be swings in any direction just to add geography to the move. A straight line would be excellent price discovery- which they don't want.
It is ironic how often that seems to happen.
Would be green already if Tim Cook sent Cramer another Email saying that "Everything is ok at AAPL."
The 200 DMA is heading South bound on I-75.
http://safehaven.com/article/39842/the-great-train-wreck-of-2016