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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Same old shit show...Stawks will turn around and blast right back up. The DOW could be 18,000 by Friday!
It's almost like some kind of magic is involved!
I sense a dark presence.
3 30 on the mark. Uncanny - you can set your watch by it. We'd be deep in 16,000 without the stick save.
Worked great this time. Each time they do it more and more will ride the pattern.
You can say that again.
then the boat rolls over.
Fed Cleveland Chair says China contained ... buy all the things.
http://www.bloomberg.com/news/articles/2016-01-04/fed-s-mester-shrugs-off-stocks-drop-and-says-u-s-economy-sound
There's an endless supply of printed fodder. It will take revolution and bloodshed.
SO WE GO FROM DOWN 430 PLUS AT 3:00 TO FUCKING DOWN 273 ON DOW AND LESS THAN 2 PERCENT DOWN.
YUP, MUST BE ALL THOSE FUCKING BTFD PPL WHO WERE RUSHING IN ON THE 1ST TRADING DAY OF THE YEAR TO BUY SOME STAWKS.
FUCK THE FED, AUDIT THOSE BASTARDS
It was the E*Trade baby.
as we all know - there is no market. just algos transferring stocks ownership from the left to the right pocket of the FED.
PPT came back from New Year's Party hangover at 3:30pm.
PPT came back from New Year's Party hangover at 3:30pm.
You bought that dip right fam?
Wall St never had it so easy. Show up for work at 3:28, execute a buy order, then sell at 3:58. Half an hours work per day, millions of dollars in bonuses.
I can just see Janet typing in the last zero of the $3b ETF order....
Viola! Thank you future debt issuence! Thank you tax payer.
Stop the taxpayer bullshit. Do you think they would do this if raising taxes were even possible, and if it were mathematically possible to service existing debt let alone pay down the balance?? It doesn't matter and they know it.
http://www.zerohedge.com/news/2015-12-03/no-bank-bailouts-haven’t-ended
"The Cost Is Very High": Portugal Taxpayers Face €3 Billion Loss After Second Bank Bailout In 2 Years -http://www.zerohedge.com/news/2015-12-21/cost-very-high-portugal-taxpaye...€3-billion-loss-after-second-bank-bailout-2-y
Portugal ain't got its own printing press.
It's called running a deficit -
Budget Deficit Explodes Higher In Portugal After Government Throws In Towel On Bad Bank Sale- Zero Hedge
I want to see who entered those orders that kept pushing the market back up. Surely, there were not that many BTFD today.
Min order size on FED mobile trading app is $100 mil.
New highs in January.
I told ya
http://www.zerohedge.com/news/2016-01-04/happy-new-year-global-stocks-pl...
Yes cause after all there is nothing but value here... ( blows nose )
Some idiot earlier said bounce from 1990-2000ish possible (1989.68 low for the day). This was as we know a garbage bounce. Unless the "ramp it and camp it" morning move can muster up enough bullshit to open this bitch above 2040-2042 and keep it there this may be another attractive entry for net shorts.
Legit bounce could occur off 1969/1970ish.
Smallies and Transvestites already "down too much already" . . . . . . perhaps in the short run??? Financials still getting going and vulnerable. XLF volume surged today and it closed way up near the daily high suggesting suckers still BTFDing financials let it carry over in the AM if the farce is on with ES futs up big.
Who would be buying these stocks?
I hope China puke noddles over Yellen's fat face....
Best PPT of the year by far.
Can someone explain how buyback programs lift stock prices legally? Aren't companies required to buy at the last independent price, meaning they can't ramp up their own stock?
Well they changed the laws a few decades aga so there are loopholes galore. To oversimplify a company doesn't buy its stocks directly they use second parites to do it. Commercial Banks, Brokerages holding margin accounts, Obama's uncle's brother. Basiacally anyboody who can get a hold of goverment printed money directly. Tax payer supported Ponzi.
They (the companies) buy their own shares, then retire those shares, thereby raising the EPS since there are less shares in the pool, which then causes the stock price to go higher.
I don't always buy stocks, but when I do it's with a $2-$3B MOC order.
Who is coming to Oregon? Nice wildlife sanctuary I'd like to see....
PPT ... Bid, Bid, Bid
Seems money on the sidelines will be buying stawk every day at 3:30 whether they know it or not. Who said Ma and Pa aint coming back to this market...you just don't get to reap the rewards!
The smart money is selling directly to the tax payers. FUCKING CROOKS
Relax...remember how downsizing meant you loss your job ...until you recovered and saw the light and meaning of it all ...that your company was not downsizing but rightsizing and you felt much better... well the stock market was just rightsizing... do you feel better now!
I didn't buy....did you buy? WHO bought?
I don't know, but they just upped the limit on our credit card they're using for this.
LOL! No shit sherlock. The real question is by whom?
I think we all know the answer to that question.
I didn't buy....did you buy? WHO bought?
We all bought. we just don't know what we bought and can never sell.
Who wouldn't want to be long into China's opening tonight? I assume they arrested anyone who sold yesterday
Chinese Army deployed to trading rooms to shoot any shorters...
"Chinese Army deployed to trading rooms to shoot any shorters......who were not part of the elitists"
330 has become the new 420. It's always 330 somewhere !!!!
Only on the real ugly days like today. Otherwise the 10 minute super rally at 3:50pm ET still seems to be in play as well as the late morning through early afternoon stabilization balancing act nearly everyday.
a late day buying panick . AHAHAHA!!!!
OHH yeah ... i need to spend a lot of money on something that is only worth 10% of its face value.
I am shocked, I tell you!
Who woulda thought a late day stick save?
BTFD at 330pm with a S@TFL, so easy I think Elmo can trade this mkt
you knew these fuckers were gonna try a stick save especially on day 1 of the yr.