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Dow Dumps 500 Points From Post-Yellen Highs Amid "Policy Error" Fears
Just in case yesterday's weakness was mistaken for "well, it's just stabilizing before the next leg higher," US equity markets are pooping the bed this morning with the Dow down over 500 points from its post-Yellen highs, FANGs plunging red, credit collapsing, and bond yields slumping. Between the widely watched quad-witching, Fed policy error concerns, and the utter failure of the Bank of Japan's efforts to save the world, global stocks and bonds are flashing red warnings for the end of centrally planned markets.
That was not supposed to happen...
Post-FOMC, equities are collapsing...
As not even the FANGs can maintain a bid...
30Y Bond utures are soaring as the rest of the risk-asset universe slides lower post-FOMC...
Charts: Bloomberg
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PPT is out getting Starbucks. Give them a mo'.
Take your medicine.
https://www.youtube.com/watch?v=mgekmOqCFTU
Time for a rate cut?
The FANGS? More like the FAGS
I like the SKA version myself...
https://www.youtube.com/watch?v=6z3OjOSud4M
Janet was told to "Just Pull it"
They've named Janet Yellen's replacement: The Great Milenko
https://www.youtube.com/watch?v=M3SPIiS1rjg&list=PLR4tUHo6RuWgP1bpBf84Iy...
PLAY LOUD!
Welcome to the Dark Carnival...
Spoctor Din
Last Call for Parachutes!
I wonder how many people understand who said, "just pull it" and why it's important. Or even why some people get a thousand yard stare. Please +1 him, above, if you know. Let's get a feel for the stupid blind sheeple who are allowing themselves to be controlled by msm, judge judy, and what the Kurdashitons had for dinner.
The question now is, did the plunge protection team take off for an early Christmas?
Christmas?
Hannukah?
Not so fast. Let's see if the "markets" can string three down days together in a row. Is Bullard supposed to speak on Monday?
They'll have the weekend to prepare for a magic market pump, too bad that the boat is leaking at all the seams and the rats are starting to abandon ship......
This is just a set-up for the next major short squeeze. There are still plenty of stupid sheeple to slaughter.
4 moar hikes next year should really make things interesting. woohoo!!!
Sorry, but raising rates when every other central bank in the world is desperately cutting was no error. The fed and their owners have an agenda and it doesn't bode well for 99.9% of the people.
If there's no 8000+ tons of gold in Ft. Knox, you bet yer ass they'd better have an 'agenda' - and an air-tight-in-all-holes one at that.
It would be very interesting to see what happens if ft knox is found to be an empty bunker, followed by Mr. Putin an Mr. Xi Poonntang showing off their impressive stash.
I bet Mr. XI has over 20k tons, and Mr. Putin has over 8k tons.
Wouldn't they then have the ability to create their own gold backed cash?
Agree. Increasing rates right now makes zero sense. Either they are clueless or have another agenda. Jellen may be clueless, but most of them are not. So what is the plan?
I think they crush the asset base with debt-deflation and buy it up for a song with free momey. The plan is to always increase their net worth.
What do you see?
sschu
The squid just wants to grow another tentacle around the world and buy up the USD debt in other countries while they slowly crash the S&P.
I would expect 'bad news is good news' for a while now, because if the economy stalls and drops with only .25 rate hike, the next Fed move will likely be to delay or reverse the rate increases in 2016. Bullishit!
At least it's on low volume. Oh wait.
Tesla's up on oil heading into the $20's. Makes sense.
Since when do "stocks" make sense? What, literally, are "shares in stock" these days? If you buy "share in stock" of Tesla, what are you buying? A door hinge? A glove compartment lid? Perhaps a whole car? The "market" is compeltely detached from the reality of things. What do "shares of stock" mean to a company in terms of raising capital if money is shoveled out for free anyway? What do valuations mean when relative prices are simply volume knobs on a central planning control panel?
Brazil down 2.25%
Russia down >3%
See Dump Say Dump
It's still all bullshit.
How do those gold and silver charts look today? That was too easy. Muahhahahaha!!!
S&P already dumped 2030 and 2020. Getting closer to the magic mark at 2000.
Don't actually think it matters if it happens today, tomorrow, next week or next year. The crash has been underway since late May, the last time the NAZ, S&P and Dow all high new ATHs.
The shit is coming to an end. Watch terrorism disappear as a major story. The meme for 2016 will be economic security, and Trump will win easily.
In fact, since Putin's endorsement yesterday, I would wager that in the minds of most world leaders, Trump is already the US de facto president. Obummer is so over. Hillary is a non-starter. Change is good; best to be out in front of it. The elections will be all for show, since Trump is self-financed. The money machine(s) is/are grinding to a halt.
Americans are going to see the fruits of what the Fed and the federal government, state governments, and local governments have sewn: CRAP. Loads of CRAP, piled high on more loads of CRAP.
Bankruptcies should absolutely soar in 2016. Corporate failures and bond defaults will accelerate. Pensions will default on payments. The US will slowly, painfully, resort to honest money. GOLD AND SILVER WILL SOAR.
I've said all I can on this. Been waiting seven years for this to happen.
A BIG THANK YOU TO JANET and THE FOMC. THANKS, YOU NITWITS.
Don't like to trade OPEX's, could be kicking myself, as 1 out of 10 is actually tradable. On the sidelines, watching the 2-min tape is rather comical, as powerful algo battles are evident, slapping each other like the Three Stooges (always hated that show).
Call me skeptical, but despite the forecast of the learned JPM quant, I still think it slightly more likely, perhaps 59% probability (to pull a figure out of a hat) that this is just a setup for a miraculous turnabout, to start within 20 min or so, to pull indices back toward the next higher DMAs (or in the case of RUT, Unchanged), in some cases modest losses on the day, but nowhere near the worst case carnage. They're already messing with oil a bit to 'lube' the pathway, pardon the pun.
Don't get me wrong, nothing would make me happier than to see a post-rate hike smack-down, but it just seems too scripted, too perfect, which means machines will typically fade those trying it ...
KCS! Good day sir...back from vacation, still full timing it with a client so not getting to trade much :( and not getting my daily dose of the hedge either...(in some ways that has been refreshing although the withdrawals are tough at first)
Hope you have been fairing well, RUT is back in that nomans/flip a coin land so I have been dipping toe in the oil slick a bit since the RUT takes much more babysitting time I don't have these days.
Take care, make a bundle and have a wondeful Christmas.
Great to have you back on the boards, miss your stream-of-consciousness option tips, glad you took some time off (and so are the market-makers :) )
Happy to report that, after 4 yrs of toiling 70 hrs per week, I'm 90% confident I've made it as a trader, I believe two methodological tweaks I made on Labor Day and Mid-November put me over the top, now my metrics are excellent. Doing less than 10 trades per week (usually 3-4 days only), so I'm being discriminating but going all in when it looks promising.
Happy holidays to your family, and let's look forward to a profitable 2016 with TNA/TZA (!!)
^ ^
0 0
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deer, meet headlight
I still don't feel any signs of panic.
You won't until the beast is free.
Is the BoJ selling gold this morning? It's getting jack hammered down on the m-5 chart.
Hi Yen. I going to go to another gun shop today. I am on a roll here. I really don't need any more guns...well, OK, I can always place for another one. Then there is that pawn shop downtown. We might have to go downtown and check some of that shit out. You have to ask to see that stuff. The wife is already mad at me but I showed her the bullion charts for today. Yesterday was bullion play. Today is numismatics. But we might as well go look at some more guns first.
I wish all of you Zerohedge Brothers and Sisters well. Wish me well today.
What, no more Free Money?
Approaching 17000,,, the buying should start shortly if recent history holds true.
Here are 3 leading downside indicator indices, among others, already today below their close on the Aug 24 collapse. Equity money is not trying to hide here, like it is seeking top quality refuge in DJIA, SPX and elsewhere, but all that stawks have left to do now is run, run, run. Of course commodities are the real downside leaders in the worldwide trade-manufacturing-consumer collapse, but the number of post-Aug 24 index lows will soon be increasing as they join the 'policy error' downward collapse:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=VALUG&insttype=&freq=1&show=True&time=8
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=xrt&insttype=&freq=1&show=True&time=8
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=djta&insttype=&freq=1&show=True&time=7
I'm confused. I can't keep up anymore. I not only don't have any stocks, I have no idea how the stock market works. Is this good or bad for the gold price? I don't even ask about the silver price, because I don't have any of that anymore. I already had to sell all that for ~ half what i paid for it. Now I'm selling the little gold I have left for a little more than half what I paid for it.
I am right there with you and it pisses me off to apoplexy. I guess that makes me an angry American.
LOL@You
So everything you bought, you bought at the all time highs!!!
Timeshare seems like a stable investment right now.
Plus, free tickets to Blue Man Group with every purchase! Can AAPL do that?
Did anyone see at @12:12 eastern, the S&P traded down 53 points?????? It came right back up the next tick to down 21....
Holu Moly that got my attention...
Had to go public with my bed pooing did you?
Those whiskey adds REALLY make sense now...
They have to let it fall a ways so that the bounce back will be more impressive and the shorts will be slaughtered. The centrally planned economy and market controls will never end until it all ends. The dollar is not dead yet. It is too soon to dance on the dollar's grave. That will happen soon enough but we aren't there yet.