Bloodbath
You know it's bad when...
THERE IT IS 7pm ET pic.twitter.com/ufjczF1cYY
— Ivan the K™ ? (@IvanTheK) January 7, 2016
But, but, but... Fed... FANGs... Decoupled... Services... Netflix... Unicorns... Cramer...
The day started badly (as China devaluation stress crushed carry trades and sucked liquidity out of the world, slamming USDJPY, US stocks, bond yields, credit, crude, and copper lower)...no late-day rally today!
*CANADA STOCKS ENTER BEAR MARKET AFTER 20% DROP FROM SEPT. 2014
All that hope as China lifted its circuit-breaker rule and crude briefly rallied... but stocks carnaged back to overnight lows late in the day... Another bounce into the European close then SELL MORTIMER SELL into NYMEX close
Since the start of December, it's ugly...
The NASDAQ is rapidly losing its post-QE3-End gains...
"Policy Error" Much?
"No Brainer" is down 28% from its highs...*APPLE CLOSES AT $96.45; FIRST CLOSE BELOW $100 SINCE OCT. 2014
FANTAsy stocks tumbled deep into the red for the year (yes even NFLX!!) Facebook, Amazon, Netflix, Tesla, and Alphabet... all red...
Financials caught down to credit...But just keep talking up NIM and their "no brainer"-ness
VIX pushed above 25...
VIX term structure inverted...
Credit suggests more to come..
Stocks are "getting there"...
Catching down to breadth...
Away from the excitement of stocks...
Treasury yields tumbled further (some selling pressure as CNH defense suggested China selling)...
The USD Index tumbled back into the red for the week as JPY strength continued...
USDJPY closes at 11 month lows...
Commodities split between growth and safety as PMs rallied and crude, copper crumbled...
as Gold and Silver Surged...
Charts: Bloomberg
Bonus Chart: What did you think would happen?
@federalreserve what did yoiu think would happen? pic.twitter.com/psI62Uszcr
— Not Jim Cramer (@Not_Jim_Cramer) January 7, 2016
(33 votes)
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"Ameridumbs"
+100 for that!
People named Walton. If your family was that rich and your family business stock was tanking, you buy shares from your family at inflated prices and rescue your stock. And the money never really even left the family. Tomorrow your family will buy those stocks back from you at inflated prices again. was rinse repeat til there is no more market.
What? Next your going to say that the banks buy each others stocks?
KS, you forget this is Barry's Robust Rekovery.
No banks are too honest for those kind of shenanigins. /sarc
Motherfuckers is one word, Kaiser Sousa.
Not necessarily
'Mofos' is how it hangs on the street.
muhfuhs after 2AM.
what about FUCK OFF???
just kidding...kind of.
That's a beautiful finish to the day KS! Thanks for the rant...
This has nothing whatsoever to do with Walmart, China or broke consumers. It's a group of dirty bastard, tape-painting whores trimming the foreskin off of some WMT shorts.
When Kaiser posts in a happy mood, standard font, lowercase, with complex sentences constructed from multiple clauses, strewn with more dashes and semicolons than Kafka – then we’ll know true progress has been made in price discovery.
Until then, I suppose we'll get more rude raspberries from a rusty tuba, like the music of his cousin John Philip ...
Walmart said in October they were going to buy back 20 billion of their shares,this China thing may have reated a sense of urgency in this matter
once again.. the answer to the eternal f-ing question is the eternal f-ing answer:
COST-OF-LABOR
r
https://enronnext101.wordpress.com/
Well the Waltons just transferred a lot of shares to a trust. Perhaps that was done to allow for the purchase of more to give a boost. I believe they stay at no more than a combined 50% ownership.
Kaiser, would you PLEASE tell me how you really feel?
B-cups?
a barfing unicorn AND an e*trade baby loser! what a day, i'm taking off for a hike with a smile on my face.
I want a collection of barfing unicorns
Retired from parody-production last year, but have a couple left in inventory, waiting for the right day to post:
"Panic" by The Smiths
Panic in the markets of London
Panic hits the servers in Framingham
I wonder to myself
Have markets just become sane again?
As worldwide bubbles get tapped down
I wonder to myself
Hopium’s smoked just like grass here
But Honey Pie, there’s no fear there
As you hunker down in your ‘safe’ CLO funds
But there's panic at the office of Carlyle,
Goldman, Citi and the sell-side
I wonder to myself
Sell all your Cisco
Yank your SPY at VWAP
Because the forecast the BLS makes
It says nothing to me about my life
Dump your blessed long plays
Because the nonsense the Fed has been saying …
As the lead Wall Street funds slip down
Existential frowns all ‘round
Sell your EBAY, Sell your EBAY, Sell your EBAY
Sell your EBAY, Sell your EBAY
Sell ...
good to see you again, Keltner. happy new year!
Logged in for the upvote. Great to see again, worth the wait: a classic.
Aw, shucks, you guys make a humble little mom-'n'-pop trader actually feel useful [and that's quite an accomplishment :) ]
Fuck me. I am going to be singing that in my head for days.
Giddy, that best describes my current demeanor.
Real question.... Am I to understand that China won't' halt the market tonight? So are we expecting a MASSIVE plunge?
They will halt again soon. Mostly because they are afraid now, playing only reactionary defense, and they have no internal consensus of how to handle this. They will fall further and further behind the real action as things speed up in here and then they will close markets once again, simply out of fear. Inevitable.
But fear is contageous and spreads like wildfire. And nobody in China really trusts anyone in China, so no trust plus fear equals 1-800-GET ME OUT.
Like everyone in a theater filling with smoke and the owner yells down that everything is ok, please stay in your seats. The regular film will be back on shortly.
How long before everyone heads for the lone exit door?
One one thousand, two one thousand...........
Perfect!
That depends.If it takes a dive,you bet your ass, otherwise no.
Heads they win,tails you lose.
I suspect not. A lot of yesterday's plunge was caused by traders trying to rush through the "Sell" door before the 7% circuit breaker was hit. Kind of a self-fulfilling prophecy and a amatuerish gaff by the Chinese financial authorities. I suspect we'll see some crazy swings in a couple hours when they re-open for business, but with the spectre of having the market shut down while you're stuck being long having been removed from the market, things should (emphasis on "should") stabilize into a more controlled bleed-down.
You may be right and I'm wrong - so far, after an initial dip, is is trending upward.
https://finance.yahoo.com/echarts?s=000001.SS#{"range":"1d","allowChartStacking":true}
It's entering the basement .... next stop the 18 circles of hell.
After that, China Syndrome.
Shit happens. This is but a small taste of the fun the markets will be this year.......
What a great start to the new year. Just fucking beautiful
The new look for Spring? Bars on all windows, security lighting, big dogs and lots of ammo. Don't have a home without them.
just f'ing bee-u tiful
"dont worry...be happy..."
The moron on CNBS doesn't know how to spot the "divergence" in credit?
Across all of the asset classes?
That is such a cute video of Bob Pussani as a baby.
Mass Hysteria
https://www.youtube.com/watch?v=-9NMt42il4Q
Oh,PPT
Where Art Thou?
not surprised about their no-show...with minus numbers like that,they held off hoping they could work at a decent positive range(that would look good for the weekend)
PPT was there alright. Would have been much worse had they not levitated the markets at the open and erased half the overnight losses...
If it wasn't for the Federal Reserve's Plunge Protection Team we would have seen a -1000 point drop in the market today.
Audit the Fed !!
I'll be drinking a beer at 8:30 CST to stream China until bed time.
The problem with jumping back in to early is the upcoming earnings reports that will likely include lower guidance, lower revs, cuts to divys, shutdowns, layoffs etc. Not counting the known unknowns and other confusing things we have no idea about?
Bullish!
Wasnt DOW 16,516 an important tech level?
IIRC, that was for the year end close.
Support levels with techs seem to be fluid. Martin Armstrong, whom many on zh hate, has/had it at 15850 then 15,370. I believe that is for the week not daily.
I don't hate Martin, I've followed him for years. But I will say this, when he was in prison he was extremely bullish on gold. After he got out, he doesn't have much good to say about it. Therefore, something changed and I dare say he made a deal to leave gold out of his analysis. Or, at least bullish gold calls.
Did anyone else notice these +80 point swings in 10 minutes today? It seems like there were several of them. I'm wondering who is doing all this buying?