Market Massacre: Worst Ever First Week Of Trading
What better analogy than this...
This was the worst first week of the year for US equities... ever!
Dow... (even worse than 2008)
S&P...
Europe was a disaster...
And epic for China...
And while only Trannies are in a bear market (down 20%) in the US, these 7 developed world markets are already there...(h/t SocGen's Andrew Laphthorne)
* * *
So let's look at the week in stocks...
It was all looking so awesome last night...
Futures show the swings better (with China weakness as an early week driver and US as late-week driver)...
Small Caps and Trannies are down around 7% this week, S&P best but still down over 5% (and down 6 of the last 7 days)
- S&P down 5.3% - worst week since Black Monday
- Dow Industrials down 5.6% - worst week since Black Monday
- Small Caps down 6.9% - worst week since Nov 2011 - Russell 2000 lowest close since since Oct 2014
- Dow Transports down 7.1% - worst week since Sept 2011 - lowest close since Nov 2013
The Dow is down 1400 points in a week (from 17,660 to 16,250)
Utes managed to end the week unchanged but Homebuilders collapsed... Financials and Materials were next worst...
- Financials down 6.6% - worst week since May 2012
- Materials down 7.4% - worst week since Sept 2011
- Homebuilders down 8.6% - worst since Aug 2011
VIX broke back above 25... (VIX up 60% in 2 weeks - biggest jump since Black Monday)
What did Janet do? Post Fed rate-hike - S&P down 6.5%, Gold up 3%, 30Y Bonds up 1.6%
Stocks are about half-way there...
Since the end of QE3, Trannies are down 20% and only Nasdaq is holding any gains...
The FANTAsy stocks are all red since the end of 2015 (with TSLA and AMZN worst)...
Energy Stocks finally woke up to reality in the credit underlying commodity...
US financials have started to plunge back to credit/yield curve reality...
With MS and GS back below Tangible Book Value for first time in 2 years...
Away from stocks...
Treasury Yields tumbled, closing at their low yields of the year with the belly of the curve outperforming... 10Y yields dropped 14bps this week - the biggest drop in 3 months.
FX markets were volatile but by the end The Dollar Index closed unchanged (against the majors)...
But the USDollar surged 1.5% against Asian FX - its best week in 5 months... (Asian FX is its weakest since April 2009 against the USD)
But AUDJPY - probably the world's most-levered carry trades - collapsed 6.7% this week!! It's worst week since May 2010...
Commodities were very mixed this week...
Gold rallied 4% this week - its best 'first week of the year' since 2008... (best week in 5 months) - breaking 2 key technical levels...
Crude down 5 days in a row touching a $32 handle at the lows... biggest weekly drop since Nov 2014
In Summary - Sell The Dips!
See you all Sunday night!
Charts: Bloomberg
Bonus Chart: Investors seeking safety are greatly rotating from Triple AAA stocks to Gold stocks (h/t SocGen's Andrew Laphthorne)
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TRIGGER WARNING!
THREAD CONTAINS BEN BER-JELLEN!
They will announce they can stop it using terms and phrases like, "countermeasures", "shore up", "rebuild confidence", "support", "strengthen" and our favorite, "ease".
I confidently predict they cannot over time. The reason is that they never change their actions. All the forces that bring us to this point stay there evern after the mini-busts and big-busts. Countries play with currency, try ever more control of markets, set up fake interest rates, borrow like there is no tomorrow and offer platitudes to voters and investors. Nothing really changes.
Anyone know is they are still selling "synthetic CDO's".
Don't forget Fantasy Accounting!
We should pair Ben Bernocchio with Janet Felon on Dancing With the Stars...
One of Benny's pearls of wisdom:
https://www.youtube.com/watch?v=4ECi6WJpbzE#t=16m32s
We already know Ron Insana's position at this point... All cash in his imaginary portfolio.
http://www.zerohedge.com/news/2015-08-24/ron-insana-i-only-manage-virtua...
I see a large penis forming in that VIX chart
Take a look at Drudge right now, the headlines are pretty amazing, in a good way. Hillary may be done, Cruz birth certificate shows American citizenship. Things are heating up.
Cruz?
Wake the Fuck up. Like birth certificates haven't already been forged before. Plus, his Cunt wife is his handler as she is former Goldman Sucks & CFR member.
Hey, I know trust me, trust me, I know. I don't trust him at all. I'm sure he's bought off.
Congrats on being almost right with the +400 call
I get the buy side but where are the sellers putting their money?
Following comedian Bill Burr's advice: got a mortgage? Pay that shit off.
Cramer
Don't be silly Bear Stearns is fine,,,next day down the sink!!!
Futures down already -190 after the close?
Lets go for a second record monday in a row !!!!!!! woo hoo!!!
HOLY SHIT - TOP STORY ON DRUDGE
http://trailblazersblog.dallasnews.com/2016/01/gov-greg-abbott-calls-for...
+400 Monday?
Let me tell ya they tried all day to send the market north. They tried payrolls, then the crude carry all day, then 1130am est Euro close, next 130pm est pre ramp, crude again at 230pm, finally 330 ramp several times all failing. They did try but someone on the other side was waving the finger...nope.
Kevin Henry may be fired afyer this day
hahahahaha
They tried everything but mouth to mouth on the dead cat didn't they.
The Fed has lost it.
Now it gets very interesting.
The Fed NEVER loses. Big meeting in Berlin next week with Draghi, Merkel and Juncker. I hear that Yellen may come as well.
Assfucks all of them - but the Fed does win when things crash, remember that. It's not always a one way street.
Anyone with cash and phys. is winning. Fed included. Just follow their lead.
That one made me chuckle. I have a feeling we will be able to use that little phrase again.
Now I don't know if they lost it all, or if this is a controlled demo, but I agree it is going be to very interesting Sunday night and all next week.
I can confirm that, your times are right on and it spooked me. I have one of those open minds about the possible...ufo,bigfoot, yellen is a woman...but when I actually encounter the supernatural and spooky conspiracy shit...gives me the creeps.
They do not hide their hand anymore. They have nothing to fear from government or the people. Government won't arrest them and people prefer decadence.
Remeber this? I do. Seems like he may be right, timeline was a bit off but still. http://www.wsj.com/articles/SB123051100709638419
It's on then . Ball is a rollin
I agree with most of his amendments.
"Allow a two-thirds majority of the states to override a U.S. Supreme Court decision."
Those gays and those abortionists. That's what this one is all about. How adorable.
"Require a seven-justice super-majority vote for U.S. Supreme Court decisions that invalidate a democratically enacted law"
This one would have come in handy for the fascist states during the "Jim Crow" era.
None of this has to do with real issues.
I ain't got no problem with that. Get those gays out of here, same with the abortionists.
Fine. I'll leave. Pay for my relocation costs to Iceland and for classes on how to speak and read Icelandic and I'll leave today.
I'll have a gay old time of it, too.
LOL can't blame you. I'm kidding the gays can stay. Not of fan of killing babies though.
I stand atop a 10-story building. I am at the edge of the roof. In one hand, I have a zygote. In the other, I have a real-life baby. I drop both simultaneously. You are standing on the sidewalk below and can only catch one.
Which do you choose?
Make it Antarctica instead of Iceland, and I'll donate the first $50.
Shoot the hostage.
shoot the fag dropping zygotes and babies from the roof
Straw man argument. Life is life. Funny thing, all the people who call for abortion were not aborted.
Big deal. And those who call for no abortions don't have to deal with the financial and emotional burden of caring for a life they didn't want and perhaps didn't want to even have put inside of them in the first place.
Worry about your own life. Let people decide their lives for themselves. Isn't that what the "pro-freedom and liberty" people always say they want?
Freedom, free dumb.
*gasp* responsibility for one's actions!!! Perish the thought.
It's not like people know that having sex makes babies, sheesh!
Damn, is that right,I thought it was kissing.
let the people take responsibility for their own lives?? That is not what they want, they want the taxpayer to take responsibility for their screw ups - let them pay for their own mistakes.
That's dumb even for a pro-aborter. No zygotes get aborted.
How about in a hospital there are two babies the exact same age. One is premie the other is aborted and sold for parts or "research". That's more of where the issue is and the conflict lies.
You are on top of a 10-story building and someone drops a real-life baby and someone pushes your 99 year old grandmother over, too. Which do you choose to catch?
Neither.
So you're just a sick fucking troll, got it.
Enjoy your hot pocket.
Maybe his Gammy died at 75?
No he's a sick sexual pervert faggot troll. Way worse than just any ole troll
Oh, so you are just a eugenicist?
Got it ..
Sanger worshiper huh?
And way too bent for my taste ..
You crazy, bro? I'd break both my arms trying to catch a fucking baby from that height!
so adding another 1,000,000 consuming and polluting human animals ever 4.5 days is smart?