Stocks Plunge To 3-Month Lows Amid Crude Carnage, Chinese Currency Collapse
Ok to summarize - China has lost control of its currency (whether intentionally or not) and that is forcing carry unwinds en masse; North Korea tests a nuke; European inflation disappoints; US services economy collapses (follows manufacturing's lead and another pillar of hope is destroyed); Crude crashes to fresh decade plus lows; The Fed offers nothing in the way of hope for growth (or puts); Bernanke says not to expect Fed to save stocks; World Bank cuts global growth outlook... But apart from that, everything is awesome!!!
Before we start, this happened!! Bloodbath in Yuan (offshore Yuan near record lows)...
On the day, a wild ride... with the ubiquitous closing ramp
Deja Deja Vu all over again...
On the week - year-to-date - it appears bad news is bad news - let's just hope China doesn't open tonight eh?
Note that evwerything but Nasdaq is red since the end of QE3...
Post-FOMC, everything was chaotic... Gold flat, bonds up and stocks rescued...
We do note the VIX-manipulation to move stocks around...
Stocks are catching down to their breadth-based reality...
And it's looking a lot like August again...
Energy stocks plunged back to reality... who could have seen that coming?
Financials are catchiung down to credit again...
FANTAsy stocks were mostly lower but NFLX was ripped higher as CEO Reid Hadtings spewed some more bullshit... #netflixeverywhere - seriously!!
AAPL had a mysterious massive buyer as it broke $100...
Treaaury yields plunged with 7Y back under 2% and 30Y back under 3%... on the week 2s30s is now 6bps flatter
The USD slipped lower after FOMC Minutes but is brioadly flat for 2 days (and up on the week)...as AUD collapses and JPY surges...
Crude was clubbed, copper limped lower but PMS rallied further...
Carnage...
WTI Crude crashes to its lowest level since Dec 08's lows at $32.40...
Charts: Bloomberg
Bonus Chart: We have seen this pattern of money flow chaos before... Outflows surge from China, send liquidity needs spiking, which bleeds over into Saudi stress (petrodollar?), causing unwinds in major equity markets (thanks to deleveraging of carry trades) in China and then US stocks...
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i typed this up as i watched the last hour of fraudulent fucking trading on the fucking dow mother fuckers... (and i mean to most of ya’ll affectionately)
NOW PLEASE RIDDLE ME THIS…
WHO IN THE FUCK OVER THE LAST 3 DAYS DECIDEd THAT FUCKING WALMART REPRESENTED A GREAT BUYING OPPORTUNITY IN THE LAST HOUR OF TRADING ESPECIALLY TODAY WHEN THE DOW WAS DOWN AT THAT POINT 322 FUCKING POINTS????
WHO IS THE “MYSTERY BUYER” STEPPING IN EVERY FUCKING DAY IN THE LAST HOURS OF TRADING TO JOLT THE DOW OFF SESSIONS LOWS WHEN EVERY OTHER SHIT STOCK IN THE INDEX IS NEGATIVE FOR THE DAY???
HOW IS IT THE DOW WAS DOWN OVER 300 ALL FUCKING DAY AND THEN -LIKE MAGIC- “RETAIL INVESTORS” STOPPED HOLDING THEIR DICKS JUST IN TIME TO RUSH IN AND “BUY!!!! BUY!!!!! BUY THE COCKSUCKING DIP??????
TOTAL AND COMPLETE BULLSHIT…..
death to the MoneyChangers. and fuck off with that….
PPT to the rescue. The government just owns a percentage of Wal-Mart now. Don't hate.
WalMart is a great buy cuz obviously no one wants to go to Macy's anymore. + Netflix
And no one wants to leave their houses cuz netflix abnd amazon.
Too bad no one has jobs to afford netflix and amazon.
The world outside of amzn and nflx just fucking sucks, all you need is some cheap beer and pussy to complete your day.
Meanwhile in the real world, Iran and India start to trade for oil. It won't be priced in USD, but in rupees.
http://russia-insider.com/en/its-happening-iran-india-dump-petrodollar-s...
Tick, tock.
Note those two Nation-States love gold.
Barfing clown to the rescue!!!
Barfing Unicorn > Barfing Clown
@Kaiser, Do you trade much? Do you have access to basic market news?
1: You should note that WMT was ~$90 in Jan 2015, and is now around $63, so someone might think its cheap, based on some valuation measure. I'm not saying that I view WMT as cheap, but its easy to see that someone might think so.
2: There has been significant activity in the options market
Option Alert: WMT Feb16 67.5 Calls: 1500 @ ASK $0.43: 3322 traded vs 996 OI: Earnings 2/18 Before Open $63.69 Ref (SENTIMENT:WMT:1)3: There were a number of filings for executives receiving stocks from the company. Here is just one example;
Form 4: Update Filing for Wal-Mart Stores Inc (WMT)
Jan 06, 2016 (Vickers Stock Research via COMTEX) --
Document Processing Date: January 05, 2016
Stock Name: Wal-Mart Stores Inc
Stock CUSIP: 931142103
Filer: SYSTROM, KEVIN
Position: Director
Stock Symbol: WMT
Exchange:
Stock Type: Common, Ordinary Stock
Transaction period:
Trade amount: 449 shares
Trade type: Acquisition (Non Open Market)
Trade price range: $.0000
Shares still held: 5745 shares
China made garbage was getting out of American's rang so Yuan devaluation was imminent. Now once again we will be able to buy Chinese crap.
WHO IS THE “MYSTERY BUYER” STEPPING IN EVERY FUCKING DAY IN THE LAST HOURS OF TRADING TO JOLT THE DOW OFF SESSIONS LOWS WHEN EVERY OTHER SHIT STOCK IN THE INDEX IS NEGATIVE FOR THE DAY???
It's me... Sorry! I admit it (I'm not sorry that I did it, I'm just sorry that you don't like it ~ like, the one day a year that I'm supposed to be sorry for something)
http://active-democracy.com/images/the-lovely-jewish-history/federal-res...
Take your medications before commenting. You will be kicked ouy of ZH again.
kicked "oy" of ZH, Freudian slip?
It was vey perceptive of you to notice his typo.
@Oracle
& so how, in detail, is the link that I proffered, incorrect (you know, b4 we get into talking about who should be taking 'medications' & all that shit)?
http://active-democracy.com/images/the-lovely-jewish-history/federal-res...
tick, tick, tick...
Well, I didn't think so (seems like the 'cat' of Kypseli has a hold of your tongue)
Seems to me if the fed is buying Netflix, it should be worth less considering their track record.
I am not an active trader but I do follow the markets. It is uncanny how many late day "saves" there are that ramp up at the end of the day.
There are either timed algorythyms out there or an active coordinated counterforce.
I would try to trade the intervention.
" The government just owns a percentage of Wal-Mart now."
And that is what taxes are for?
Don't worry. No tax dollars used here. This is the Ctrl+P variaty of fun coupons being spent here.
RIght. Just add pixie dust!
Ugliness prevails
Everyone (almost) can see it now. Look out below!
Janet Yellen may as well start doing the fucking commercials. Walmart could just put a gray bowl cut wig on their happy face, and nobody could tell the difference.
She could be the greeter. Job that she would have in a free economy.
They got rid of the greeters, too expensive.
The greeters were always there for security, checking you out while smiling around "welcome to Walmart"
Now they mostly just glare. Wally World has forgotten some things Sam knew for sure.
Eventually they'll all be Flea Markets or homeless shelters.
How true, the greeters have now moved to the exit doors and are checking receipts, ala Costco. They no longer care if you come in, just that you don't walk out without paying.
Yeah but Janet is gonna go full blown comanche and shock the hell out of everyone.
Because quite obviously the new way to make money is buy at :30 before the close, and sell in the morning. Rinse, repeat.
... and for Gawd's sake be sure you don't oversleep.
That's why God invented trailing stops. :)
Or just sell at 3:58.
I have watched myself...Like clock work. Too bad I don't have the balls or the knowledge on how to just leverage the fucking thing 1000 fold at 3:30 pm. You could make a killing.
The only funds seeing inflows are probably index funds and they are big flows relative to numerous other strategies. Since they have to track the index, it wouldn't surprise me if they were trying to buy at prices approximating market closing prices, though I don't know this for sure. If so, it could be that they represent the dailiy race to close??? It is pretty clear a switch gets thrown to keep buying into the momentum of the close.
In the chart I just saw it looked like it started going down somewhere between 3:00- 3:20 today.
KS - GOT THE CAPS DEAD ON, BUT NOT ENOUGH FUCK.
More colorful, long winded descriptive phrasing helps as well.
It also has a calming effect on your own personal space.
For example :
" Those Snot slinging fall down drunk rainbow skittle shitting unicorn child molesting rama lama ding dong Klingon cocksuckers from Uranus hard at work ramming financial cock up the muppets so hard they all look like fucking finger puppets ! May they all die in a fire caused by ramming barbed wire covered baseball bats covered in flaming napalm up their asses while they are being frog marched into the business end of an airport snow blower running at top speed. "
I hope this helps you with your next colorful description of Wall Street Piracy.
i will try harder tomorrow.
thanks....
ps: how u liking the capping of the phony paper price of Silver at $14...and Gold below $1,100.
theyre so fucking stupid....
cheers...im headed our for beers and many shots.
I love that they are artificially keeping silver low. Time to stack it high. Cause then the paper silver burns, the physical holders will prosper.
Anyone under 30 that requires some form of visual stimulation in order to comprehend these mere words should look at Chevy Chase in Christmas Vacation after he gets his bonus in the mail. Good for old timers as a reminder as well.
KS - metals price the same as paper spot value.
Makes me wanna stack the canoe up so high with physical that I capsize mid Lake Woebegone all over again. For the 47th time to date.
Fucking cold water in January. Bought a wetsuit for the long swim to shore.
What he said
Walmart 1.4 million US employees
sells Chinese shit
China about to go fubar
This will not end well
They will go back to where they started. Two guys with a box cutter. Just set it on the floor. And with less than half the floor space. They will lease the rest out to the Amish with a peddlers mall
Shit sorry I clicked the buy button instead of the sell button...my mistake guys my mistake. Wont happen again.
-theinhibitor
Love ya KS! Keep on telling it like it is! Need to make the REAL clowns puke!
Apple now owns a bigger % of AAPL.
The usual VIX hammering, CL and USDJPY-fueled algo crap for sure.
But, in this case, the charts actually supported a rebound. Draw a trend line from SPX's Oct 21 lows through the Dec 14 lows and you'll see it intersects today at about 1983.50. Those two previous times, SPX rebounded by 100 and 83 points respectively. So, folks who watch charts were looking for a similar bounce off the trend line today.
SPX dipped below it for 30 minutes or so. When it popped back above it, it attracted a lot of dip buyers.
https://twitter.com/pebblewriter/status/684886274948206592
At the end of the day money changer win, you and me are the bag holder.
Cue puking clowns