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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Please stay home on Monday to clear space for the jumpers
At least none of us bought Silver yesterday...
My Chinese advisor, Sum Tin Wong, says "Chinese stawk cheap. You buy now."
That is free advice. You're welcome.
Oh man, just about laughed my ass off!!!!!!!!
Buy some food and ammo? Really weird at costco today, people buying Florida storm supplies and we are not at all in storm season. WTF?
My Chinese advisor - 'Sumkunt '- said get the FUCK out !
Needs more charts.
Yes, some more charts would have convinced me. Tyler always pulls out early.
And who doesnt like trannies? Some of them are hot, imo...
dude...
Some are hot enough that it'll make your head spin. For extra points, drop some acid and watch tranny porn. Your mind will never be the same.
Bennet Yellankespan says everything is just fine.
So I'm a buyer at these prices.
</sarc>
Did anybody see this guy David Tice on CNBC today? He started going off about Austrian economics and the Fed and then they were like, "Oh, sorry we are having trouble hearing you" and cut him off. Lol. I could hear him just fine. Wtf???
AisA - yeah, they used the same "honey, I can't hear u right now ... I'm going thru a wind-tunnel" excuse I use on my girl when I'm walking into the strip club :)
TV's make good space when you get rid of them.
4 more rate hikes
lol
markets had an anyrism & heart attack after just 1 following 7 years of ZIRP
Such a bloated market that this drop is meaningless... just getting back to reality is all.
Kudlow thought “Not Your Dad’s Root Beer” was non-alcoholic so right after he drank it his coke dealer arrived.
Kudlow just called Obama to offer his support for “Cash For Clunkers 2” because the original was terrific for stocks which helped him pay down his tab at Betty Ford.
Kudlow = turd
Kudlow & Company, October 22, 2007 asshat crowd with Don Luskin
https://youtu.be/4LhlPEWww6kand jeremy "the insect" siegel... amazing that these same ass clowns are back on the joob toob, after being the pied pipers of the last slaughter
what a POS - remember his "goldilocks" bullshit right before the last plunge,
and his incessant ziocon rants, like he's also a foreign policy expert.
last time I saw him was some variation of "Putin is our arch enemy" rant...
i hope he burns in hell
Hey, a free market us the best path to prosperity, haww.
Kudlow the Catholic /s
FX Flash Spike Down right now in USDJPY and JPY pairs.
More red down arrows in those charts than a coinhead post.
The Best Investor Advice Ever, for this market!!
MUST GO FASTER
https://www.youtube.com/watch?v=rxqHVoZ0fzc
Anybody hear that, it's a umm, it's an impact tremor is what it is. I'm fairly alarmed here.
Come on, come on, come on, we got to get out of here.
Objects in the mirror are closer than they appear.
Get the right fuck in. You lot of arse trembling nation wrecking cunts are just about to find owt what real value means. Gambling on the future of your fellow man would always end like this, and now us daft cunts, get to watch you parasitical twats prove your collective worth.
Can you grow 'Tatties', you bunch of fucksticks? Can you change a light bulb between yourselves you pieces of utter filth? Can you shine your own shoes you inbred fucking cunts? Hows about boil an egg? Parasitical fucking arseholes right down to the last one of you cunts.
You are just about to join the real world, with a right fucking 'Jolt'. And about time too, where you really can find owt about 'Speculating', cos I bet my speculation that you grifting, leech, parasitical wankers wont last more than five minutes before either falling apart, or torn limb from limb from the folk you ruined. And you brought all of this on yourselves.
Sleep tight cunts, you aint many more days from being peeled alive.
;-)
Happy new year, from down south.
Don't sugar coat it, tell them how you really feel...
TYLERS!! TYLERS! get over here and see what 'Inthemix96 just posted! <:-O oh my...........
arse trembling nation wrecking cunts............
daft cunts.....................
you parasitical twats............
can you grow Titties?......
you bunch of fucksticks............
pieces of utter filth...........
inbred fucking cunts........
Parasitical fucking arseholes.....
last one of you cunts........
with a right fucking jolt......
grifting, leech, parasitical wankers........
Sleep tight cunts.....
and last but not least, "being peeled alive"! the Goddamn, fucking diatribe coming from the shitty, frothing fuck hole in this guys face. jeeeez!s i did green ya though.
I gather you are upset about something?
DOW - a military acronym for Died Of Wounds! Seems appropriate.
Is Obomber gonna go out in a recession. Oh what about his precious legacy?
Can Hellary win if we're in a recession next Sept.?
it's bush's fault.
only if diebold decides in her favor
Even Diebold won't have a choice when Trump pulls his schlong out of the race at the last minute.
Hitlery is gonna get hit by the email scandal!
Shotgun Joe and Fauxcohontas by Draft/Brokered Convention!
BAC was $5.00 after the 2008 crash, before " uncle Warren" bailed it out, and this moron is suggesting buying BAC stock above $15.00?
I can't stop laughing...
WWMBD?*
What would Michael Burry do?
Every banker ive met would never think of jumping because they love themselves way too much. Can you imagine a job where you lose your clients wealth,but somehow still find a paycheck in your checking account?
Bankers actually love to fly, they just need a little push in the right direction.
Someone tell Bob Piss-On me- about the divergence with credit and equities.
Why bother? He believes the december jobs numbers were great( soon to be revised when we find out they were holiday jobs performed by college students)
Central banks have created an Massive Godzilla debt monster...
godzilla, great blue oyster cult tune.
so after the next implosion..will trading still be a thing??
i had a good week this week in FX
Good for you... Keep up the good work.
Transition your profits, into tangibles.
BTW> there's a market for everything.
hehehe
im hoping the markets will be around for another 5 years or so, so i can make some money and leave the workforce for good..but by the time i make enough money to not work i dont think america is going to be a civilized place anymore
One of my favorites. Don Luskins preaching BTFD, Schiff being beat by these snakes. Hmm who was right?
https://youtu.be/wB0eFrmUOhw
So CNBC's lead story is, "Sign Apple Has Bottomed," and the "sign" mentioned therein is a single analyst upragde, and the footnote reveals this "analyst" is a market-maker in Apple stock.
Just criminal.
My team and I were each given an Apple Watch at CES, and after I left the Con Center I tried to give mine to a homeless chap. He was like "what, you don't have any Chipotle leftovers for me cocksucker?"