"Markets In Turmoil" As Europe Opens

Tyler Durden's picture




 

With Chinese trading halted mere minutes into its day-session on the back "insane" moves as one Asian manager exclaimed, the rest of the world's markets have borne the brunt of hedging, unwind, selling pressure.

Happy "Chinese" New Year...

 

Dow Futures are down 300 points from After-Hours highs...

 

Crude has crashed back to a $32 handle...

 

The dollar is weaker as JPY and EUR surge...

And Gold has jumped back above $1100...

 

Time for some jawboning Mr. Draghi.. and what about you Kuroda-san? Get back to work!! Unless the rest of the world is 'ganging up' on The Fed, pressuring the US stock market until Yellen folds and unleashes QE4?

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Thu, 01/07/2016 - 01:48 | 7009332 Yen Cross
Yen Cross's picture

ES is getting hammered! I love it!

 Let's clean the scum off the balance sheets?

 Someone mentioned the 300:1 gold margin ratios earlier.

 I mentioned " short covering".

Thu, 01/07/2016 - 01:50 | 7009344 Daize
Daize's picture

"Clean the scum of the balance sheets"

- Sounds like a plan, my man!

Thu, 01/07/2016 - 01:55 | 7009349 Deathrips
Deathrips's picture

WTI to the teens.

 

Buy Physical things that aid in independence from this flailing beast.

To be dependent on them is insanity!

 

Fuck You FISCHER,GREENSPAN, BERNANKE, YELLEN FUCKS!

RIPS

 

Thu, 01/07/2016 - 02:11 | 7009394 Thought Processor
Thought Processor's picture

 

 

it's just a flesh wound..........

Thu, 01/07/2016 - 02:29 | 7009436 Not Victor E. O...
Not Victor E. Overbanks's picture

Who gives a shit? Its all paper tigers and inflatable tanks.

Thu, 01/07/2016 - 07:56 | 7010019 SuperRay
SuperRay's picture

There is nothing more gratifying and beautiful than TRUTH!  Our brains are wired for it.

Thu, 01/07/2016 - 02:47 | 7009461 jcdenton
jcdenton's picture
Putin’s Opportunity to Bust the US Petro Dollar

 

Mike and Preston should be on ..

http://freedomslips.com/studiob.htm

Tomorrow (well, later today) Thursday, 1/7/2015 6PM (EST) ..

To ..

GLOAT!

Thu, 01/07/2016 - 06:09 | 7009703 new game
new game's picture

wti is in the teens if you factor inflation...

Thu, 01/07/2016 - 05:39 | 7009672 _ConanTheLibert...
_ConanTheLibertarian_'s picture

"Clean the (s)cum of the (balance) sheets"

Thu, 01/07/2016 - 02:05 | 7009381 Daize
Daize's picture

Re the gold (hey you edited your post :P) :

That ratio was EXACTLY the first thing I thought of this morning.

Thu, 01/07/2016 - 01:51 | 7009346 Fish Gone Bad
Fish Gone Bad's picture

OK, now things are getting interesting. Looks like Gartman wasn't that wrong after all.

Thu, 01/07/2016 - 01:55 | 7009357 kamikun
kamikun's picture

Looks like Gartman wasn't that wrong after all.

That's probably the scariest thing I've read all day.

Thu, 01/07/2016 - 02:32 | 7009440 Dead Canary
Dead Canary's picture

Gartman was right.

Gartman was right.

Gartman was right?

No. I just can't wrap my head around it.

Thu, 01/07/2016 - 06:56 | 7009783 NoDebt
NoDebt's picture

That's the problem with Gartman.  Every now and then he makes contact with the ball.  That's why I say "he's no Tom Stolper".  Stolper's batting average was literal zero.  Grartman is slightly above zero.  And that one time all season he hits the ball, it'll be at the worst possible time.

Thu, 01/07/2016 - 08:14 | 7010109 unplugged
unplugged's picture

broken clocks, blind squirrels, and gartman

Thu, 01/07/2016 - 06:57 | 7009787 gatorengineer
gatorengineer's picture

You dont have to... Someone will intervene before the US open....  They have lied to long and stole too much to let it all come down this fast....  keep your stops tight.....

Thu, 01/07/2016 - 04:55 | 7009616 Bananamerican
Bananamerican's picture

'...and the Gart man shall be right' is mentioned in Revelations I believe...

 

Thu, 01/07/2016 - 02:09 | 7009387 Yttrium Gold Ni...
Yttrium Gold Nitrogen's picture

My thoughts exactly. The day Gartman turns out to be right will be the day the market crashes.

Thu, 01/07/2016 - 02:02 | 7009372 joego1
joego1's picture

Fuckit! I'm buying 4 55 gal barrels of red diesel. This shit is getting serious.

Thu, 01/07/2016 - 02:28 | 7009384 Yen Cross
Yen Cross's picture

 Those Saudis... A little upset over their de-capitations?

 Looking at the charts... I think we see another leg down in London.

 I'm finally ready to short AMZN.

Thu, 01/07/2016 - 06:20 | 7009721 css1971
css1971's picture

"I'm finally ready to short AMZN."

LOL. No.

Thu, 01/07/2016 - 02:36 | 7009446 lasvegaspersona
lasvegaspersona's picture

Welcome to the slaughter house...don't get any on you...

Thu, 01/07/2016 - 03:01 | 7009468 Bunga Bunga
Bunga Bunga's picture

Hurry, before the safe havens get sold out.

Thu, 01/07/2016 - 03:03 | 7009475 Jayda1850
Jayda1850's picture

Got my popcorn and wondering if it's too early to start drinking. Days like these are the only ones I can stomach bloomberg and cnbs

Thu, 01/07/2016 - 04:43 | 7009598 StackShinyStuff
StackShinyStuff's picture

Not sure where you are but it's noon somewhere...

Thu, 01/07/2016 - 03:09 | 7009489 Janet Shalom Be...
Janet Shalom Bernanke's picture

Where's that hag Yellen when we need her most?  I suspect that they are putting on her make-up (bondo) now, gussying her up, ready for a Humprey Hawkins sit-down with Congresss to explain how great the U.S. E-con-omy is, and how rates need to stay "lower for longer".  

 

 

Thu, 01/07/2016 - 03:13 | 7009497 blue51
blue51's picture

Bondo .... Good one !

Thu, 01/07/2016 - 03:16 | 7009503 FreedomGuy
FreedomGuy's picture

2008 flashbacks, anyone?

Thu, 01/07/2016 - 03:41 | 7009538 GreatUncle
GreatUncle's picture

Let it crash.

If you don't then you just use more and more good value to support bad debt. This good value then turns into bad debt, the malinvestment.

To continue down the path eventually removes all growth when the level of debt exceeds the good value. Then you are left with only 2 options bust or stagnation just like Japan.

Will the central bankers figure this out or as I suspect they are so scared of the unwind they can only put us in stagnation.

Thu, 01/07/2016 - 04:13 | 7009568 vega113
vega113's picture

You don't have the Japan option. Japan could do it cause US continued to buy its stuff. But there's no one to support US.

Thu, 01/07/2016 - 04:15 | 7009571 Seagate
Seagate's picture

It's going down alright.

Thu, 01/07/2016 - 07:14 | 7009849 lakecity55
lakecity55's picture

Like the Titanic.

The QE4!

Thu, 01/07/2016 - 06:59 | 7009798 herkomilchen
herkomilchen's picture

+10

Thu, 01/07/2016 - 07:02 | 7009808 aurum4040
aurum4040's picture

Dude theyve been doin this since 1980 do you honestly think they will 'let' it crash? I mean I am all for it because it's pretty obvious to anyone with any economic sense that debt doesn't work but they will not go down without a fight... QE4 will happen, shit Qe5 and 6 will probably happen before the serious market crash and the end of the USD. Careful what you wish for. I hope you are ready 

Thu, 01/07/2016 - 08:23 | 7010155 bshirley1968
bshirley1968's picture

Let it crash? How about, make it crash.  They have a plan.  Will not change their lives one bit......unless I get their location.  Don't be naive.  Since 1980?  Game is old and coming to a close.

Thu, 01/07/2016 - 09:58 | 7010685 Dig Deeper1
Dig Deeper1's picture

Agreed.  We need to "break on through to the other side" post haste.

Thu, 01/07/2016 - 03:44 | 7009541 AON
AON's picture

Le jeu s'en fait.  

Thu, 01/07/2016 - 04:20 | 7009578 Yen Cross
Yen Cross's picture

 carnage!

Thu, 01/07/2016 - 06:58 | 7009794 herkomilchen
herkomilchen's picture

Yummy.  Sweet, sweet carnage.

Thu, 01/07/2016 - 04:25 | 7009584 Hobbleknee
Hobbleknee's picture

You guys think we'll have some volatility, or are we headed straight into the abyss?

Thu, 01/07/2016 - 05:13 | 7009623 mosfet
mosfet's picture

Thar be volitility ahead!  Even for a short stint I'd say at least 6 months of it followed by another 6 to 9 in freefall.  How much depends on the level of extremes the Fed will go to to try and juice the markets.  They can't just turn round and lower rates in Jan meeting, so they'll say they were taken by surpise and blame it all on China.  That way they can lower rates in March in a sorry attempt to save face.  Of course if the cajoling and rhetoric doesn't pacify markets by the end of Feb they may just call an emercency one to lower sooner.   Then it's on to QE (by some other name like 'Operation Natl Hubris'), neg rates and helicopter money drop throughout '16 & '17.  While the Fed won't be able to suspend the recession (again) it can certainly screw over the country by dragging it out for several more years; only to have it coincide alongside a serious dollar devaluation headed our way.

 

Thu, 01/07/2016 - 05:24 | 7009653 Hobbleknee
Hobbleknee's picture

Sounds like more of the status quo.

Thu, 01/07/2016 - 06:16 | 7009712 new game
new game's picture

just a scratch. ha, saw 16666 and thought 10000 to go.

10 fucking tousand phoney ass points created by phoney ass printed money now worth much less. and those 10,000 points propped up by new accounting standards and buybacks- fucken first class ponzi ass scam. fuck the markets...(and maybe a fuck you too_ha).

Thu, 01/07/2016 - 06:57 | 7009778 herkomilchen
herkomilchen's picture

Well put.  My WAG is they will leave the 0.5% rate alone for now to save face and just launch a QE4-lite in March/April.  To be "more accomodative in light of recent market developments."

Thu, 01/07/2016 - 07:05 | 7009819 gatorengineer
gatorengineer's picture

couple of scenarios.

1)  this so far minor correction is engineered to stick it in Chinas ass.  In which case I think we have another 10-15% down on the US markets and another 30-40 percent on theirs, a brief air pocket and then normalcy.

2) Central Banks intervene today, before this gets ugly (my bet).  Whipsawback to S&P 2100

3)  A big Hedgie blows up or a Commodity house (glencore) goes belly up....  Contagion spreads like 2008...  Straight to the Abyss.

Thu, 01/07/2016 - 04:43 | 7009597 Kina
Kina's picture

the only thing I have been making money off is trading the dips on one debtless company with good revenues. volatility good for profit. Im all out of the market right now, since last week.

Thu, 01/07/2016 - 05:19 | 7009644 leftcoastfool
leftcoastfool's picture

Laissez les bons temps rouler! (bitchez...)

Thu, 01/07/2016 - 05:26 | 7009655 themadhur
themadhur's picture

Markets In Turmoil = Increasing Possibility Of M-E blowup

Thu, 01/07/2016 - 05:34 | 7009664 BarnacleBill
BarnacleBill's picture

"The dollar is weaker as JPY and EUR surge..." [from the article]

This is silly. The dollar's drop was about half a percent. On a one-year chart it's barely a blip. Are there really that many big-money day-traders reading ZH?

Thu, 01/07/2016 - 05:46 | 7009677 Gregory Poonsores
Gregory Poonsores's picture

Iran's just accused the Saudis of hitting their embassy in Yemen.

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