Late-Day Buying Panic Saves Stocks From Worst Start To January In 84 Years
Santa Rally...?
An ugly day... just as we predicted
The bloodbath started in China, which was halted early on circuit breakers...
Europe was ugly...
And that dragged US Futures lower, which were not helped by weak manufacturing data, weak construction data, and not helped by overly confident Fed speakers, but shortly before the EU close a hug eblock sucked up all ther liquidity in futures and stalled the selloff. We rallied back to VWAP around 1995 in S&P then faded...
The machines did their best at 1101ET to stall the weakness, which ramped to VWAP before institutional selling started...
Cash indices saw Dow break to a 16,000 handle, S&P under 2,000, and Nasdaq under 5,000...before a late-dat $2-3bn MOC buy order out of nowhere lifted everything...
The moment 330ET hit, VIX was slammed (via rampant buying XIV - inverse VIX ETF) and S&P pumped back above 2000
Financials were worst, Energy best...
FANTAsy stocks all plunged with Tesla and Amazon worst...
But Apple managed to ramp back to green briefly as we supposed its ubiquitous buyback prgram stepped in...
US equities dropped to 3-month lows, catching down to high yield bonds' weakness once again - just as they did in August...
Financials tumbled to 3-month lows, catching down to the yield curve collapse just as they did in August...
Treasury yields dropped all morning but as Europe closed, sellers moved in lifting yields and reducing sme of the early flatness...
The US Dollar index rose on the day against the majors (as European buying beat Asia selling)...
And Asian FX tumbled to fresh 6 year lows against the USD...
Commodities were a mixed bag. Despite USD strengtrh, Gold surged over 1% buit silver was stalled when US growth was questioned and sent crude tumbling...
Crude ended the day lower as record gluts and weak growth trumped any war premium fears...
Charts: Bloomberg
Bonus Chart: Just as we warned last week, we have seen this pattern of global pass the illiquidity hot potato contagion before...
Bonus Bonus Chart: You know it's a bad day when...
Brian Williams says today's market action reminds him of his early days trading the 1932 market
— Bob Brinker (@BobBrinker) January 4, 2016
(17 votes)
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Stick save? Not yet. Looks pretty ugly as of 4:08 EST.
Ahh the albino midget is hard at work behind the scenes.
yes, surprise, surprise!!! SP tops 2k with EOD rally!! who DIDNT expect that?
Let's see what they can do when it crosses 1800 on the way down...
Just go long at about 3:00 PM already! How hard can it be?!
Don't forget 10am, 11 am & 3.55 pm.
But ShitNBC saying well off the lows!
I saw some random MSM channel newscast say the same thing "what a comeback"; I was not surprised.
rather than go long at 3:30 and make money, ZHers would rather compalin at 4:00 broke.
I got nothing to add about the story, I just hope Janet Yellon fucking dies
I, hereby, rename her Janet Felon. Where is Jon Corzine? Is he still fund raising for Hitlery?
He got sent to prison for stealing hundreds of millions of dollars from allocated accounts at MF Global and funneling the money into JP Morgan. He and Dimon are sharing a cell.
Free Corzine!
Yellen is a puppet. She has only worked academia and at the FED. https://en.wikipedia.org/wiki/Janet_Yellen
So how does that work?
Do they take turns tossing each others salad??????
Who's the catcher????
How does that work. . I'll be Jamie is the catcher!
I am surprised that she is still alive. She darn near had a big stroke the last time I saw her speak.
+400 on Tuesday.
Exactly, the way the big 4 manipulate markets would be me having a shock algo on my fantasy football picks to make them run faster during games.
A COMPLETE FUCKING FARCE....
WHO THE FUCK WOULD RUSH IN TO BUY CAT, WALMART, AND APPLE THE WORST PERFORMERS OF 2015 IN THE LAST 2O FUCKING MINUTES OF TRADING???
FUCK YOU MOTHER FUCKING BANKER PIECES OF SHIT....
KEVIN HENRY AND ALL HIS COLLEAGUES AT THE PPT WOULD!!!
FUCK THEM ALL
Short covering.
It wasn't covering. It's called MARKING THE CLOSE.
And it happens to be highly illegal... unless you are a bankster with friends at the SEC.
It wasn't the bankers, it was the bankers' banker!! putting your tax dollars to work!!
We know better than you what you need. You don't need roads, bridges, and infrastructure. What you need is higher and higher stock prices!!!
We told you that we were watching the E-con-omy, which translates to mean: the major indexes.
Like a very bad lie, if you tell it enough times, the lier starts to believe it himself. If we goose these bubbles enough, then maybe you will start to believe these prices are real.
To get an idea on how much we can print and prop, just look at Japan. We have at least a decade and ten TRILLION more dollars to print before this house of cards comes crashing down on your pitiful heads. By then, I will be on the speaking tour, and doing consulting at the firms helping us to propogate this fraud.
Japan had the benefit of a weaker currency and manufacturing and the rest of the world binging on debt to buy their goods. the USD is strongest and the US Manufacturing has been decimated and the rest of the world is debt saturated.
who cares when its other peoples money... Buy it all ... and you're gonna love thier bail-in..
looked like their machines got a little carried away (positive feedback loop) and we got a flash melt up LOL
China will dictate tomorrow.
So you don't think the Politbureau has already told those in charge of the stock market over there to make it go up 5% tomorrow or they risk their families disappearing...almost guarantee there will be green in China simply because the land of great economists and analysts apparently were only moderately concerned about China today. Good for +5% tomorrow in China and +400 on the Dow tomorrow based on China reversion.
You mean the 3:30 algo hft fed induced ponzi buying scam. SHit the feds must own 25% of everything if not more
That's when the drugs kick in....
https://www.youtube.com/watch?v=P2pgWsYSyUA
It's all leading up to the inevitable "debt jubilee"!
The whole reason for their fiat!
The day that either 1) markets don't open or 2) they hit limit-down right after the open, then you will know something has changed.
Until then, it's just the same old BTFD and wait for 3:30 Ramp Capital, LLC to show up.
That is exactly it...when I see the ZH headline in size 68 font saying
"Uh Oh"
at 8AM, then I know the end game is here, otherwise, there is nothing but good ole opportunity out there everyday.
If you can even get onto a computer.
I think someday it will be a "RESET" and nothing powers on. Or wakes up perhaps.
Fun times.
"3:30pm Ramp Capital: These guys are good"
It borders on nefarious. Like, the HFT traders simply don't give a fuck anymore.
They have no fucking choice. They either buy the dip or watch their tower of babble burn to the ground. They have pumped interest free fed money into this scheme in hopes of drawing all of the money on the sidelines in for the shearing, but if they are still in too deep, they have to hold on to it or watch as it evaporates...and they still hold the note to the fed...granted a zero interest rate note, but a debt none the less. They are trapped and all they can do is keep playing and hoping for enough ramp to suck some more muppets in before the whole thing blows to hell.
So for all you guys hoping and praying for it to crash, all you need to do is buy in BIG!
pumped like a 17 year old college girl in the back seat of a old chevy
You could have gone 18 man...come on.
Yes, not legal.
16 is Legal in Washington State...
Horses, too!
(sorry, they changed that recently)
It is if the guy is also 17 or you are in Arkansas lol
Legal in lower slower Delaware, but only if you're related.
Or your last name is Biden.
used to be 13 in Virginia, the irony went over their collective legislative heads i guess
Age of consent is 16 in Georgia;)
Don't give 'em alcohol though.....they will lock you up for getting them drunk.....but you can screw them all you want.
Georgia's only redeeming quality.
17 is more pumped.
i hate reruns....