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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Yeah, plus 1099 "contractors" that can be let go on a moment's notice without affecting the unemployment rate or the jobs number...
1099 Entrepreneur? lol
CNBC, talking about how great the jobs numbers are.. Walt Disney would have loved this....
Orwell might have appreciated it more.
Dammit, Janet. We're so screwed...
She don't care, she's on a mission:
" Interplanet Janet, she's a galaxy girl
A solar system Miss from a future world
She travels like a rocket with her comet team
And there's never been a planet Janet hasn't seen "..................
" Earth looked exciting, kind of green and inviting
So Janet thought she'd give it a go
But the creatures on that planet looked so very weird to Janet
She didn't even dare to say hello "
Again, turn those charts upside down and you will see that the economy is b00ming.
That's what Bath House does so he can say the economy is roaring back!
how the fuck do Gold and silver not fucking budge for two hours????????????
Because there was a big fat bastard sitting on them.
You've never tipped over cows at night, have you?
Beam me up!
dunno but I ain't complaining/may order myself a 500 box over weekend (if prices don't move materially)...
I will sell you 500 Apmex/Sunshine bars @$15.
Best deal on the planet.
Ahh, a nice new 2016 Kangaroo hopped onto my porch this afternoon!
'Canada" announced today that the economy gained 23,000 jobs in December. Private sector lost 8,000; public sector lost 9,000; but 40,000 'self employed' jobs were created. So,...regardless of what you're hearing, were still doing pretty good. What's it take to get a drink around here?
Just open up your own bar.
watch out for Pissani, Liesman and Krudlow in the Chelsea gay bars tonight, there's a bad moon risin'
Play nice... Beating someone why they're down, just diminishes your message.
Those guys aren't "retarded". Bought and paid for?
Is this how the Eastern elites (China, Russia, etc) plan for the paradigm change from soft back to hard money? Assuming that they know that all their fiat based "assets" (stocks, bonds, etc) are really worthless any... why not collapse their stock market to trigger a worldwide market collapse when they're ready for the paradigm change. As we know (as do the elites), Mother nature (natural cycles) is a bitch and has no mercy. The fiat cycle is coming to an end for now.
No, they will devalue their gold, too. Chinese will trade a one-ounce Panda for .94 ounce Eagle, right?
Funny, how they only ever do it with paper...that paper they claim is solid and trustworthy.
For now, you're right. The Chinese are largely responsible for the gold price suppression. Allows them to accumulate. They don't nor do I care about the price of gold in dollar or fiat terms. Gold doesn't move up or down in value relative to the currencies. It's the currencies that move up or down relative to the constant that is gold. Fiat currencies have no backing, hence not money. Money if it is a store of value should remain constant (more or less). Just my opinion. Time will tell.
All this selling is basically The Fed's PPT allowing their 1% buddies to cash out.
Once the 1% get out, then the Fed will really let the market drop.
Then guess what? all the rich people who got out before the crash will be able to buy back in at the bottom of the market. You stupid people who stayed in the market will not be able to because you got wiped out !
The deep insiders sold US equities already in May 2015. It's just fucktard hedge funds, unconnected institutions and stupid retail investors who are still long.
Poor Bastards never put their seatbelts on heading over that cliff. What a fucking mess!
Beam me up!
We all know they can manipulate it so why are they allowing this,,, or,,,, do they have less control than we think?
Tune in Next Monday to find out....
Be There!
Have any of you guys noticed that none of the Fed officials like Bullard are running around on TV trying to cheerlead for this market anymore? They are eerily silent.
It is because they are letting the 1% cash out first. Only stupid people stay in this market and are going to get wiped out.
cue that whining jew fag Kudlow
"earnings are the mother's milk of stock prices"
well then we should be at 1400 S&P you fuck
oh wait he's Catholic now after swearing off the white bag and random male clam holes... LOL
I have noticed...Was thinking of nibbling when we hit 1750 S&P but the lack of any noticeable intervention and being in a brand new fiscal year is making me more cautious that usual.
cue the deer!
https://www.youtube.com/watch?v=bMqUdYJ7p8E
Long live the deer!
A 'worser' week will be when all the trading websites seize, locking-out the 401K crowd.
If Sheep belive that the "market" is the economy ...ahh fuck it
So, if im reading these charts right , I'm guessing we could be headed for a recession soon?..
;)
runnnnnnn, and don't look over your shoulder.
We're in a depression, and I'm trying find my way out... :-)
Get out NOW, and don't look back,or you'll turn into kosher salt.
Projections moving along rather nicely. We've seen failures multiple times at the 1969/1970ish level and the 1990-2000 zone identified with action testing them from both directions. 2042 is an awful far distance away at this point and 1950ish really didn't provide anything of substance. Still inside somewhat of an "air pocket" on the charts.
1896-1911ish and up to 1930ish would not shock me as a chop zone with some up and down action. Continue to get confirming action from trannies and smallies still leading rout with financials catching up. Next week might not be an instant plunge (though it certainly could) so if not no reason to panic with net shorts.
Absent legitimate explicit USD mutilating intervention the eventual break below 1900 and the August lows may in fact create a cascade down to 1620ish.
Looks intentional to me with more Yuan crushing coming in a "wink, wink" we're not doing this on purpose manner. if the Banksters won't fold the Fed then China/Russia will eviscerate all carry trades while sucking out leverage and enhancing the epic deflationary collapse.
No 3:30pm ramp job by PPT today. Those lazy gov. employees leave after lunch on Friday.
it's porn friday, exceeded only by porn mon-thursday.
I bet they did try.... huge sell orders going to close
Likely the Official Statement from the Fed
"The decline in stocks is contained and only exists in the Chinese stocks, and won't spread to the broader market."
https://www.youtube.com/watch?v=INmqvibv4UU
https://www.youtube.com/watch?v=8pEiLHnjAiw
This kind of wisdom landed him $250k speaking fees, and a $25 million consulting contract with Citadel.
Imagine how much Yellen will cash-in when she leaves office.
Market goes up, market goes down, The Jew always gets paid.
Keep in mind, when the stock market crashed in 1929 it did not recover until 1953 ! That's how long it took to restore investor confidence. Same thing is going to happen this time.
Investor confidence would be fine if fucking bankers did'nt crack your fucking skull open every fucking trade. I would like to see some jumpers. I really dont think they exist, though.
Absolutely true. But this time we have a lot of problems that didn't exist then. The Boomers are beginning to sell their positions to have money to live on as they retire. During the depression, the relatively new industrial base was merely shuttered during the 30's and 40's, not obsolete and torn down like now. Plus, there were a lot of things that expanded after the war: suburbs, household appliances, televisions, new cars, the GI bill to send guys to college for free, to name a few. None of that exists today. The Kenesian meme is that the war resulted in prosperity. NOT TRUE! It was the post-war build-out of the country that had been put off because of the war. If the markets recover in 25 years I will be extremely suprised... not that I will be around by then...
I will be eating jello by then.
I have never invested in the stock market. Is it a good time to start now?
only 350 away from hitting the 15k mark on DOW...When it hits 15k that is a new mindset....
DOW 15,000 hats on Ebay?
lol, and if you buy a DOW 15,000 hat, you get a hitlery for prison 2016 t-shirt free.. :-)