Market Massacre: Worst Ever First Week Of Trading

Tyler Durden's picture




 

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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Fri, 01/08/2016 - 16:55 | 7019014 Mark Mywords
Mark Mywords's picture

Gotta keep that Ponzi going, one way or another.

Fri, 01/08/2016 - 17:01 | 7019050 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

I suppose since you belive in nothing it would have not mattered to you if you were aborted. Can we do post birth abortions, how old are you? 

Fri, 01/08/2016 - 17:06 | 7019074 Mark Mywords
Mark Mywords's picture

I wouldn't have blamed my parents at all if they had aborted me. They were poor, both 30 years old, with a nine-year-old boy already, living in a rundown house.

I'd not know the difference.

I'm 45, BTW. Thanks for asking. However, I don't think you'll have to worry about a post-abortion for me. I'm sure some "freedom-loving" American will take care of me eventually. All in the name of God and liberty and that stuff.

Fri, 01/08/2016 - 17:25 | 7019093 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

There are a lot of retards out there, but I can assure you no God-fearning Christian would ever do that. Some hick redneck loser might, but even then that's very remote. You are more likely to be killed by a Muslim immigrant. 

Fri, 01/08/2016 - 21:09 | 7020039 stocktivity
stocktivity's picture

Well, this thread went south in a hurry

Fri, 01/08/2016 - 16:32 | 7018885 Bunghole
Bunghole's picture

I hear those hot spring will loosen your rectum up real good.

Enjoy.

Fri, 01/08/2016 - 16:36 | 7018903 Mark Mywords
Mark Mywords's picture

Come with and find out for yourself.

Fri, 01/08/2016 - 17:24 | 7019152 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

Quite honestly and for real. I am glad you were not aborted. I'm not sure if you know this but all Christian's are sinners and no sin is any worse or better than any other. I will pray for you and I hope others pray for my sins. I don't judge others (well I do for anyone that watches the NFL). I hope you know not all Christians are judgemental people. I think this video, if you watch it with an open mind, may help you. It helped me quite a bit. 

 

https://www.youtube.com/watch?v=UrmHMpyIcdY

Fri, 01/08/2016 - 16:13 | 7018775 Mark Mywords
Mark Mywords's picture

I think we should let individual states vote on remaining a part of the United States of America. Then, once the votes are complete, if anybody disagrees with the majority vote in their state, they get to move to a state of their choosing, with relocation costs paid by the state from which they are exiting.

I've thought that since the early 2000s.

Some people only "love" America when it suits their needs. So much for "This land is your land, this land is my land" and all of that fake patriotic mumbo-jumbo.

Fri, 01/08/2016 - 17:25 | 7019156 Not My Real Name
Not My Real Name's picture

If the federal government would let the states run their governments as they saw fit -- and returned to only taking care of the responsiblities it was limited to by the US Constitution -- there would be no need for secession. 

It would also invalidate Roe v Wade, Social Security, and a host of other bad legislation and judicial decisions that make a mockery of that hallowed document. Freedom vs free dumb, indeed.

Fri, 01/08/2016 - 18:00 | 7019281 Adahy
Adahy's picture

Why does no one understand that is is not your land, nor my land, nor any person's land.
Centuries, and still you don't get it.
You won't move us again.

Fri, 01/08/2016 - 18:19 | 7019357 wanderer9641
wanderer9641's picture

I get it - we are all just shadows moving throughout the land - followed by the shadows of those following us. That is providing that we leave the land in good enough shape for them to walk there.

Fri, 01/08/2016 - 16:15 | 7018787 Bangin7GramRocks
Bangin7GramRocks's picture

Another Texas gubmint titty suckler hollering about something or other. Be a man, refuse all federal money and then you can demand state level autonomy. As long as you are "takers" and not "makers", shut the fuck up!

Fri, 01/08/2016 - 17:15 | 7019120 Countrybunkererd
Countrybunkererd's picture

Turning everyone into addicts was masterfully done.  Unfortunately the total of the makers doesn't cover the expense of the takers so opting out of the pile of dogshit the US has become.  You will hear "it is better than others" but it could have been wonderful.  The least stinky pile of socialized shitholes is still a shithole no matter what string of letters it uses as an identity.

Fri, 01/08/2016 - 17:40 | 7019201 Not My Real Name
Not My Real Name's picture

Typical. What's the matter, Bangin? You addicted to that same gubmint teat? Afraid a states' convention might end up forcing you to earn a real living?

I'm tired of socialists among us screaming STFU and shouting down those who are simply asking that federal overreach come to an end. Until that happens, then it is in everyone's best interest to suck at the pathetic gubmit teat until there is nothing left. 

Fri, 01/08/2016 - 17:48 | 7019224 Bangin7GramRocks
Bangin7GramRocks's picture

Not on the dole at all. I happen to find it offensive that 3 straight Texas governors have blathered on about seceding and other nonsense. They scream how much Texas provides for this country when in reality Texas receives more federal money than it contributes. Therefore, it is a "taker" state screaming about welfare, socialism and states rights. Stop taking from me and you can do whatever the fuck you want. Issue every baby an AK47 for all I care. Let them shoot freely during kindergarten. I'm just sick of the hypocrisy that's all!

Fri, 01/08/2016 - 18:38 | 7019424 Not My Real Name
Not My Real Name's picture

Fair enough. But by shouting STFU you are playing into the statists' hands. Nobody legitimately calling for a return to states' rights wants to also suck on the federal teat. 

Fri, 01/08/2016 - 18:43 | 7019440 noless
noless's picture

Does all that money they take have anything to do with a border they aren't allowed to secure?

Fri, 01/08/2016 - 17:52 | 7019246 seek
seek's picture

If they refuse all federal money, can they keep (or not pay) all federal taxes? That'd be a fair deal.

If not, then, that's a pretty bogus argument, no?

The theory is always red states are "takers," but if that's true, and if they stop taking all federal money and stop paying, then net difference means the remaining states are better off. Yet whenever this is brought up, only crickets answer.

Fri, 01/08/2016 - 16:20 | 7018824 Buckaroo Banzai
Buckaroo Banzai's picture

Convention of the States is a fucking retarded way to "fix" the Federal government. The Feds don't follow the Constitution we have; why would it follow a "new, improved" one?

How about we go back to the Articles of Confederation? That makes more sense.

Fri, 01/08/2016 - 16:37 | 7018908 Winston Churchill
Winston Churchill's picture

Constitutional Convention = drone target.

Fri, 01/08/2016 - 17:57 | 7019263 seek
seek's picture

If they pass the right resolutions it gives the states cover to simply ignore the Feds.

If the Feds push the issue (ipso facto illegally) it reveals their intent in the light of day rather than piecemeal subterfuge.

I don't agree with the list (shit, a lot of this could be accomplished by repealing certain amendments) but there's a lot to be said for the states kicking the fed's ass on the balance of power as of late.

Fri, 01/08/2016 - 18:31 | 7019398 noless
noless's picture

Yup, his proposals include:

"Restore the balance of power between the federal and state governments by limiting the former to the powers expressly delegated to it in the Constitution."

Which would effectively cut what, 95% of the federal government?

Fri, 01/08/2016 - 16:24 | 7018847 souljaboy
souljaboy's picture

Don't go looking for something you're not going to be glad you found.

Fri, 01/08/2016 - 18:33 | 7019410 Barnaby
Barnaby's picture

Does that include ass-cancer?

Fri, 01/08/2016 - 16:50 | 7018980 Chupacabra-322
Chupacabra-322's picture

From the article:

Gov. Greg Abbott, aiming to spark a national conversation about states’ rights, said Friday that he wants Texas to lead the call for a convention to amend the U.S. Constitution and wrest power from a federal government “run amok.”

“If we are going to fight for, protect and hand on to the next generation, the freedom that [President] Reagan spoke of … then we have to take the lead to restore the rule of law in America,” Abbott said during a speech at the Texas Public Policy Foundation’s Policy Orientation that drew raucous applause from the conservative audience. He said he will ask lawmakers to pass a bill authorizing Texas to join other states calling for a Convention of States.

Along with the speech, Abbott released a nearly 70-page plan – part American civics lesson, part anti-Obama diatribe – detailing nine proposed constitutional amendments that he said would unravel the federal government’s decades-long power grab and restore authority over economic regulation and other matters to the states.

Fri, 01/08/2016 - 17:43 | 7019212 Budd aka Sidewinder
Budd aka Sidewinder's picture

I hope Governor Abbott's wheelchair has flotation devices

Fri, 01/08/2016 - 18:20 | 7019361 noless
noless's picture

Oh man, the end of that article was really depressing, Texas ACLU chapter adding in "we like the constitution the way it is" blatantly ignored?

Dipshits.

Fri, 01/08/2016 - 19:04 | 7019496 WillyGroper
WillyGroper's picture

@H4D,

Interesting.

Where does weather warfare play a role and or political ambitions?

Fri, 01/08/2016 - 19:33 | 7019613 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

My guess is they want to dumb everyone down to get them to do thier bidding, also I belive people are being offered a place at the NWO table for a short time, until the anti-chirst makes them obsolte. 

Fri, 01/08/2016 - 16:37 | 7018912 lester1
lester1's picture

Here is a little history lesson for you all...

 

When the stock market crashed in 1929 most people got wiped out because they foolishly stayed in the market. Only a certain few got out in time to keep their wealth intact.

 

Those smart investors that got out before the crash of 1929 were able to buy back in at much lower levels and became even wealthier as the market went back up over time. 

 

The point is it's best to cash out before the crash.

 

Just something to ponder this weekend.

Fri, 01/08/2016 - 16:45 | 7018943 Tinky
Tinky's picture

It's a mystery to me how you were able to outline such a complex analysis in such a short post. 

Fri, 01/08/2016 - 17:31 | 7019169 css1971
css1971's picture

So... A trade. Two people... Exchanging something. For every seller... A buyer...

Fri, 01/08/2016 - 18:09 | 7019310 reinhardt
reinhardt's picture

yer not even close - to the point of clueless

r

Sat, 01/09/2016 - 00:26 | 7020544 r3phl0x
r3phl0x's picture

In 1929 most people were wiped out due to excessive leverage. If you own the stock outright with no margin loan you cannot get "wiped out" unless the company fails, or you panic sell. However, they are really good at making you panic sell near the bottom, so you are probably still gonna get sheared like a bitch just like most US retail investors were in 2008/2009. Not 1 CNBC viewer in 10,000 will be able to resist a market sell order after a day or two of -20%. It's gonna be a big burning theater with a fuckin tiny door. Best of luck bitches!

Fri, 01/08/2016 - 16:51 | 7018972 Raging Debate
Raging Debate's picture

That is my only regret about hedging, having far too much time and a few coins to drink! Trying to get over the death of my Republic but having a hard time with it. Any suggestions?

Fri, 01/08/2016 - 16:57 | 7019022 Kaiser Sousa
Kaiser Sousa's picture

booze...

then more booze.

Fri, 01/08/2016 - 20:14 | 7019822 indygo55
indygo55's picture

Obama: ,,, so while the recovery is taking just a little longer then our 300 economists planned, The good work of the FED and the Tresuary will prevail and lift off will commence any day now. Maybe tomorrow. It can happen any day. Just keep waiting. It'll get here, I promise.

 

FUCK YOU

Fri, 01/08/2016 - 16:05 | 7018707 Kaiser Sousa
Kaiser Sousa's picture

did u see how they tried to avoid that 1% loss right at the close???
i got a few fucking questions before watching those fucking shameless prostitutes on CNBS “explain” why Ameridumb is still "recovering and there's nothing to worry about" mother fuckers…..

EXACTLY WHO IN THE FUCK WAS BUYING APPLE STOCK AGAINST A BACKDROP OF DWINDLING SALES FOR IPAD'S, IPHONE'S, AND ALL THE OTHER ISHIT NOT JUST IN BROKE ASS AMERIDUMB, BUT EVERYWHERE ESPECIALLY IN CHINA WHERE EVERY FUCKING THING IS FUCKING FALLING APART?????

WHO WERE THE MYSTERY “VALUE INVESTORS” WHO “JUST HAD TO GET THEM SOME OF TIM COOKS UNICOCK STOCK PUSHING IT UP OVER 2% EARLIER ON THE FUCKING DOW JONES INDUSTRIAL PROPAGANDA INDEX???

OH, AND MICROSOFT…WHAT THE FUCK???????? KISS MY MONKEY ASS WITH THAT SORRY ASS MONKEY COMPANY
MAN…. AND MCDONALDS….SAY WHAT???? NEGRO PLEASE….

BUT WAIT A MINUTE  - WHAT HAPPENED TO WALMART???? DID YOU FUCKING MONEYCHANGER FUCKS GET TIRED OF USING THAT WELCOME MAT FUCKING STAWK TO FLOAT THE DOW????

AND 292K JOBS??? WHAT MOTHER FUCKING JOBS…OH I GET…U MEAN LIKE GREECE’S POOR FEMALES “SLOB ON THE NOB" JOBS… SURE U BETCHA!!!

OH, AND PLEASE  - DO TELL….WHAT FUNDAMENTALLY CHANGED IN THE GLOBAL RACE TO HELL BY THE MANUFACTURERS OF WORTHLESS FIAT CURRENCY’S THAT COULD POSSIBLE EXPLAIN THE SELL OFFS IN LONDON AND NEW YORK GOLD AND SILVER FRAUDULENT PAPER MARKETS TODAY AFTER BUSTING THRU KEY RESISTANCE LEVELS YESTERDAY?????

HUH, WHATS THAT??? U SAY MANIPULATION?????
YEAH THATS RIGHT - REPEAT AFTER ME…

"MISS ME WITH THAT FUCKING FRAUDULENT MOTHER FUCKING BULLSHIT MOTHER FUCKERS……."

death to the MoneyChangers….
god dammit.

Fri, 01/08/2016 - 16:11 | 7018751 I woke up
I woke up's picture

Well, that escalated quickly

Fri, 01/08/2016 - 16:19 | 7018813 KesselRunin12Parsecs
KesselRunin12Parsecs's picture

The Long Soup Line appears to be getting longer.

Fri, 01/08/2016 - 16:15 | 7018756 R19
R19's picture

China is transitioning more to a service economy - BULLISH.

Technology will take over all jobs - BULLISH.

I could go on and on with the nth degree chaos we learn about here - BULLISH.

Fri, 01/08/2016 - 16:13 | 7018767 sapioplex
sapioplex's picture

"Woosah..."

Fri, 01/08/2016 - 16:13 | 7018774 F em all but 6
F em all but 6's picture

X 110000000000000000000000000000000000000000000000000

Fri, 01/08/2016 - 16:17 | 7018796 Bastiat
Bastiat's picture

Yep, I was glued to it.  Great rant!  Enjoy the weekend.

Fri, 01/08/2016 - 16:28 | 7018848 The Wizard
The Wizard's picture

Please quit holding back, tell us how you really feel. The moneychangers are quite confident they have all the markets under their control. Have a glass of champagne on them.

Fri, 01/08/2016 - 16:28 | 7018868 buzzsaw99
buzzsaw99's picture

YOU'RE ALL CHICKENSHIT COCKSUCKERS!

https://www.youtube.com/watch?v=I6mpHW3SMcc

Fri, 01/08/2016 - 16:29 | 7018874 vincent
vincent's picture

Blood pressure Brother. Get calm and stick around cause this is gonna be epic.

Fri, 01/08/2016 - 16:55 | 7019010 Raging Debate
Raging Debate's picture

Vincent - Yeah it is. Epic is the perfect word. Culmination of a lot of cycles.

Fri, 01/08/2016 - 17:12 | 7019114 vincent
vincent's picture

Crashing currencies, debt timebombs, geo instability, asset theft, stagnant wages, over production, falling demand, and more (albeit a small minority) beginning to wake up.

Oh, and an election for the highest office in the land. Epic TV. Epic year. Hold on kids.

Get liquid, pay down debt, and stash cash

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