Bloodbath

Tyler Durden's picture




 

You know it's bad when...

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?

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Thu, 01/07/2016 - 16:16 | 7013326 K_BX
K_BX's picture

I have been wondering for the last 7 years...

Thu, 01/07/2016 - 16:55 | 7013589 silverer
silverer's picture

Maybe the damage control team?

Thu, 01/07/2016 - 16:15 | 7013317 conraddobler
conraddobler's picture

3-15-1933

Largest percentage drop in history.

15.34% now THAT'S a bloodbath, this is a mere flesh wound.

Thu, 01/07/2016 - 16:15 | 7013318 Alex Kintner
Alex Kintner's picture

Quick, find Cramer. He'll know what to do!!

Thu, 01/07/2016 - 16:15 | 7013320 InnVestuhrr
InnVestuhrr's picture

My US Treasuries are UP

AND

I collect interest :-))

Thu, 01/07/2016 - 16:16 | 7013328 _ConanTheLibert...
_ConanTheLibertarian_'s picture

OMG OMG OMG OMG OMG OMG OMG !!!!!

Thu, 01/07/2016 - 16:16 | 7013330 cheech_wizard
cheech_wizard's picture

So how fast will the Chinese markets plunge when their trading opens?

 

 

Thu, 01/07/2016 - 16:16 | 7013331 CitizenPete
CitizenPete's picture

Tim, Larry, Hank, Bernank, get your capes out of the closet!  Time for the plunge protection team redux.

 

 

Thu, 01/07/2016 - 16:17 | 7013338 FiatFapper
FiatFapper's picture

Is this the much talked about 'price discovery'?

Got to paint candles that dance around the fib zones to give an illusion of believability.

Thu, 01/07/2016 - 16:17 | 7013341 lester1
lester1's picture

The Federal Reserve's balance sheet supposed to be released at 4:30 p.m. today. I'm interested to see if there was an uptick in mortgage backed security purchaes

 

Remember 4:30 p.m. today keep an eye in the Federal Reserve's balance sheet. We know it's not really audited but they may show a continuation of quantitative easing.

Thu, 01/07/2016 - 16:28 | 7013406 LawsofPhysics
LawsofPhysics's picture

make it easy lester, put up the link. My hypothesis is that the fed has already gone rouge. When that is legitamately recognized we get WWIII.

Thu, 01/07/2016 - 16:44 | 7013516 J Jason Djfmam
J Jason Djfmam's picture

Rouge?

Thu, 01/07/2016 - 17:15 | 7013722 Iam_Silverman
Iam_Silverman's picture

"Rouge?"

OK, maybe he meant rogue, but I like the allusion toward red, as "the Fed is in the Red", a story by Doctor Moot.

Thu, 01/07/2016 - 16:17 | 7013342 Fish Gone Bad
Fish Gone Bad's picture

Does anyone remember Gartman's prediction from yesterday? If anyone did the opposite of Gartman, then they got shlonged.  I am not a big fan of his, but thinking he is "always wrong" is just not correct.

Thu, 01/07/2016 - 18:21 | 7014084 Brooks_Orpington
Brooks_Orpington's picture

Not always wrong, admittedly.  But, more often than not you can make money trading against him.  And, I'm still not sure he isn't wrong.  One day does not make him right.  Let's check back after Monday and see where things sit relative to his prediction yesterday.

Thu, 01/07/2016 - 16:19 | 7013357 ToSoft4Truth
ToSoft4Truth's picture

 

Considering the 'carnage', gold should be up more, right?

Thu, 01/07/2016 - 17:19 | 7013734 USSLiberty
USSLiberty's picture

ABSO-FUCKING-LUTELY it should have been up more! And silver even more so.

We should've seen $20+ silver today. This shit is rediculous!

Thu, 01/07/2016 - 16:23 | 7013372 E.F. Mutton
E.F. Mutton's picture

As Al Sharpton says: "Retrace We Much!"

Thu, 01/07/2016 - 16:25 | 7013389 Rainman
Thu, 01/07/2016 - 16:26 | 7013395 LawsofPhysics
LawsofPhysics's picture

I just confered with some of my medic buddies from the ARMY. We don't think these fuckers understand the meaning of the word "bloodbath". Cleaning up after such things changes a person forever. Be very careful what you wish for motherfuckers.

Thu, 01/07/2016 - 16:33 | 7013436 Soul Glow
Soul Glow's picture

How about suicided bankers.  How about jump you mother fuckers.  How's that for a blood bath.

Thu, 01/07/2016 - 16:37 | 7013471 LawsofPhysics
LawsofPhysics's picture

A good start, but you know this would be middlemanagement.

Thu, 01/07/2016 - 16:57 | 7013600 blue51
blue51's picture

All my respect, for those that witness acute trauma, and are able to march on.

Thu, 01/07/2016 - 17:09 | 7013682 skinwalker
skinwalker's picture

I believe years of browsing internet shock sites have inoculated me against being distrubed by such things in real life. If I'm very unlucky, I may get to find out. 

Thu, 01/07/2016 - 23:04 | 7015364 techpriest
techpriest's picture

Watching it is not the same as actually having to deal with it. When you are done watching you click the little 'x' and it goes away. In real life, there is to close command.

Thu, 01/07/2016 - 17:36 | 7013829 I-am-not-one-of-them
I-am-not-one-of-them's picture

Splat...from the 70th floor

Thu, 01/07/2016 - 16:28 | 7013403 CosmicDebris
CosmicDebris's picture

Still a thousand points above late August of 2015. 

Thu, 01/07/2016 - 17:35 | 7013828 Automatic Choke
Automatic Choke's picture

that appears to be about 3-4 more days away......

Thu, 01/07/2016 - 16:28 | 7013405 Truth Eater
Truth Eater's picture

Pump monkeys blew their total allotment   Hey- they can't be the only buyers.  Any volunteers to be the greater fool?

Thu, 01/07/2016 - 16:30 | 7013419 BSHJ
BSHJ's picture

With all this 'doom talk' are we more now inclined to have a 'rip your face off' rally on Friday?

Thu, 01/07/2016 - 16:30 | 7013422 buzzsaw99
buzzsaw99's picture

i have a number in mind but it sure the fuck isn't 1943.09.

Thu, 01/07/2016 - 16:32 | 7013433 Shizzmoney
Shizzmoney's picture

This is fun

Thu, 01/07/2016 - 16:32 | 7013434 bentaxle
bentaxle's picture

...........> 29 Minutes

...........< 29 Minutes

 

How long will China be open for tomorrow?

Thu, 01/07/2016 - 16:35 | 7013454 buzzsaw99
Thu, 01/07/2016 - 16:56 | 7013599 R19
R19's picture

International PPT alliance in strategy session as we speak.

Thu, 01/07/2016 - 16:33 | 7013435 Nitefawkes
Nitefawkes's picture

Dont worry the war will fix EVERYTHING!

Thu, 01/07/2016 - 16:33 | 7013439 Keltner Channel Surf
Keltner Channel Surf's picture

I realize there was a 1-for-4 split last year, but still, seeing 3X leveraged TZA close above TNA in price for the first time in memory can't help but put a smile on all Russell traders hurt over the years by incessant Fed-fueled bullish ramping by IWM ninja algos.  If you held TZA today, open a bottle of the 'good stuff' tonight (or Yellow Tail, if that's all you've got ...)

Thu, 01/07/2016 - 16:33 | 7013446 CosmicDebris
CosmicDebris's picture

"Still calmer than you, Dude."

Thu, 01/07/2016 - 16:35 | 7013452 youngman
youngman's picture

They are going to show a million new jobs tomorrow.....just to help stop the crash..but what is going to be fun is China tonight.....its a big move either way....but I bet a 10% move up or down...weeeeeee......I just bought a case of popcorn...

Thu, 01/07/2016 - 16:55 | 7013588 css1971
css1971's picture

15% up. Or they start shooting.

Thu, 01/07/2016 - 16:35 | 7013453 humble_man
humble_man's picture

Interesting test tonight to see if China RE-implements the trading halts that they said they aren't doing anymore. 

Thu, 01/07/2016 - 16:35 | 7013459 smacker
smacker's picture

"A-a-a-a-a-and  it's  gone. It's  all  gone."

Thu, 01/07/2016 - 16:54 | 7013583 css1971
css1971's picture

I love the "and 46 billion dollars of wealth was wiped offf the value of shares today" statements you see on the news. It's like they think it's real money or something.

Thu, 01/07/2016 - 16:35 | 7013462 LawsofPhysics
LawsofPhysics's picture

The PBoC wants a major devaluation, they are having their own "tanks in the streets" hissy fit. that's the only real connnection behind the current "market" valuations...

Thu, 01/07/2016 - 16:36 | 7013465 BiPolarFrenchman
BiPolarFrenchman's picture

I was watching the 3:30 ramp today, and it held up and until the last few minutes of trading.  Been doing that more recently as of late.  

 

Trade accordingly!

Thu, 01/07/2016 - 17:53 | 7013936 cosmyccowboy
cosmyccowboy's picture

what happened for the 330 ramp? it was325 and i was all glued in front of the computer when this naked lady came dancing in front of me and i got distracted!!!

nevermind im sure there will be a chance for me to get long the dow tomorow before the weekend!!!

Thu, 01/07/2016 - 16:37 | 7013473 Baronneke
Baronneke's picture

Strange:  China lifts circuit-braker rule and in the US.....the PPT or propupthecasinoteam was nowhere to be seen.  Coordinated ??? Who's behind all this ?  In my humble opinion....it's not just falling trough the floor.......it will even fall down the basement from now on, with some minor spasms at some days.

Thu, 01/07/2016 - 16:39 | 7013491 Lost in translation
Lost in translation's picture

Had foreign exchange visitors from R.O.K. in the office today, just looking around.  $SPX came up in casual conversation, Dow and PPT, too.

Ms. Kim: "Mr. Lost, do you think American markets can be propped up in this fashion indefinitely?"

Me: "It appears to me that they have reached the end of their collective fiat rope, and are now losing control."

Ms. Kim: < silence >

 

Thu, 01/07/2016 - 16:41 | 7013492 Bopper09
Bopper09's picture

Our Canadian market had nothing to do with global bankruptcy, our Junior team lost to Finland at the WJHC, so it's normal market behaviour in that situation.

Thu, 01/07/2016 - 16:42 | 7013495 4thHorseman
4thHorseman's picture

Crash the market 75% PLEASE!!!! I want to see common sheeple morons and banksters alike jumping from windows! I'm praying for it! Tear down the ZOG machine!

Send gold to DA MOON!

Let the long awaited fireworks begin post haste!

GOLD BITCHEZ!

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