Last-Hour Buying-Panic Saves Nasdaq From Longest Losing Streak In 31 Years
It just seemed appropriate...
A 65% tumble for the S&P? https://t.co/QAnEECpuGX pic.twitter.com/rlr67A4qk1
— MarketWatch (@MarketWatch) January 12, 2016
8 down days as of yesterday was longest losing streak since Jan 2008 but a red close today would have made it 9 down days in a row - The longest losing streak for Nasdaq Composite since May 1984
Deja Vu All Over Again...
As once again, USDJPY took over after NYMEX closed...
A desperate attempt to squeeze shorts at the open (Most Shorted spiked over 2% at the open) gave way to selling pressure... but then as soon as NYMEX closed - the squeeze resumed...
So panic buying stocks and panic-selling VIX saved the day...once again all sponsored by the NYMEX Close...
Leaving all the majors green by the close
Futures show the swings best...
1225 Dow points in 24 hours!!!
But it appears insiders are selling (since QE3 ended)...
h/t @NorthmanTrader
High yield credit markets remain deeply recessionary at these levels...
Treasury yields collapsed today (as China stopped supporting Offshore Yuan)... 30Y yields crashed 13bps from high to low back to 2.875%
It's pretty clear that yesterday's "odd" weakness in Treasuries given equity tumble was due to China selling TSYs sto fund their defense of the Offshore Yuan (and today we catch back down as they offer disappears)...
The USD Index pushed higher again today with CAD dumping under 70c for the first time since 2003...
- *RUSSIAN RUBLE CLOSES AT RECORD-LOW 77.0650 PER USD
Commodities were very mixed with copper and crude carnaging while gold and silver were flat but started to accelerate higher into the last hour as things started breaking...
WTI broke down below $30 foir the first time since December 2003...
So fingers crossed that China does not open and that API does not have a huge build (as expected).
Charts: Bloomberg
(11 votes)
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U KNOW I REALLY INTENDED TO JUST TURN MY BACK ON THIS FUCKING SHIT SHOW KNOWING THAT ITS ALL NOTHING BUT FRAUDULENT FUCKING BEHAVIOR BY THOSE COCKSUCKERS ON WALL ST., AT THE EXCHANGE STABILIZATION FUND, AND THE FUCKING FED…
BUT HOW CAN I AFTER ANOTHER DAY LIKE FUCKING TODAY????
LAY DOWN THE CHARTS OF THESE FUCKING “MARKETS” OVER THE LAST 2 DAYS AND ASK URSELF THE FOLLOWING…..
HOW IS IT POSSIBLE THAT THESE BULLSHIT FUCKING FAKE ASS MOTHER FUCKING FRAUD MARKETS CAN DAY AFTER DAY MANAGE TO ERASE GRADUAL STAIR STEP DECLINES TO LOWS OF THE DAY ONLY TO ABRUPTLY DO AN ABOUT FACE AT 2:00 IN THAT SHIT HOLE OF A METROPOLIS NEW YORK, FOLLOWED BY THE FINAL “HAND OF GOD” ELEVATOR RIDE TO STAWK MARKET HEAVEN???????
OH, AND WHO DECIDED THAT UNITED HEALTH WAS THE SURE BET STAWK TO BUY TODAY DESPITE THEM ADMITTING LONG AGO THAT THE “NOT AFFORDABLE CARE ACT” WAS COSTING THEM BIG AND THEY WOULD HAVE TO ABANDON FUCKING SHIP??????
FUCK U WALL ST. U MOTHER FUCKIN PIECES OF BIRD SHIT AND DEATH TO FUCKING MONEYCHANGERS!!!!!
ps: feel free to hit the down arrow to ur hearts delight all u assholes that can’t stand the…fucking truth about this banana economy and country…..fuck off.
… im posting in non-bold lowercase sans punctuation in a calm content anti-rant cause I went long TNA ~ 2:00 & rode to VWAP no one forced me to take this risk it was my choice my risk and I used various technicals on 3 different time periods to ferret out what the market-controlling quants would likely do I didnt view it as a fed conspiracy or call for the expiration of financial leaders cause thats just inventing demons to cover a lack of understanding as in ancient sects its not personal its just quantitative and the purpose is to make money as a trader and when you control the world then you can bitch but i didnt bitch i went long as im fully in control of my own actions and no its not selling out i was short yesterday im just a waterbug in the wake of a big barge actually algos are more like a manatee the size of chrysler building attached to a speed boat motor and the trick is to anticipate and ride their waves without getting close enough to drown in the backsplash and im not always successful but i was today and dont feel a bit guilty and would tell those objecting to go fuck themselves but given my lowercase den of happiness that surrounds me now i wont become a gutter-mouthed fool but will instead go watch the newcastle manchester united match i taped while the position profited …
Markets will likely trade sideways and maybe a little higher this week and next before falling another thousand points in February. Then come March all hell breaks loose and we descend to DJ 5k.
#hopeURcorrect
I have full faith in the PPT's ability to fraud things green forever. In fact, I've bet the wife, kids and kitchen sink on it.
I ask myself the following:
"HOW IS IT POSSIBLE THAT THESE BULLSHIT FUCKING FAKE ASS MOTHER FUCKING FRAUD MARKETS CAN DAY AFTER DAY MANAGE TO ERASE GRADUAL STAIR STEP DECLINES TO LOWS OF THE DAY ONLY TO ABRUPTLY DO AN ABOUT FACE AT 2:00 IN THAT SHIT HOLE OF A METROPOLIS NEW YORK, FOLLOWED BY THE FINAL “HAND OF GOD” ELEVATOR RIDE TO STAWK MARKET HEAVEN???????"
Keltner - you are as zen a trader as you are a lyricist. I've been going in/out on the double-bull etfs for the afternoon ramp myself. It is a peaceful feeling to give them back a tiny bit of what they share so widely with us.
Way to go, AC, leveraged ETFs are like a tiger -- once tamed, you can rule the circus -- but always wirth the risk of a big, bloody bite to the backside ... Would love to see a big bad bear, but if a long trade arises, bills must be paid ...
even if ur short, why on earth wud anyone hope for DOW 5k?
Death to the money changers.
An eventual return to a real market.
yes with IWM below key levels not seen in years (wait, I can use caps and punctuation now), below monthly 50 and weekly 200 MAs, the classic mean-revert play would be for stronger indices, especially QQQs/COMP, to at least get back to the central 20DMA before the next algo move. However, monthly charts are at levels weaker than at any time since the 2008 plunge, so the strange action comes from a constant 'ask' above the morning highs, as opposed to the constant bid below we've seen for years.
No one knows, but I think the odds of a 20-30% breach or more is at least 50/50 but will likely take longer than anyone wants to happen. My strategy is to end each day in cash and approach each new day impartially, but it could get more fascinating than we've seen in awhile for those of you who hold positions ...
Not so sure..... The PPT has become the RST (Rosey Scenario Team). Watching the S&P 500 yesterday and today and observed that they started goosing the market higher at 2PM. 1.47% Ramp Job yesterday and 1.36% Ramp Job today.
The situation was not a "plunge" that anyone needed to be "protected from".
They have become so adept at manipulation that they can't restrain themselves and they do not care if it is obvious.
So much for a free market.
yeah, and im sure u got ur "strategy" in place for the winning Powerball numbers as well...
Kool...ur smarter than me and others who aint playin their game in their casino....to each his own man.
enjoy ur match....
Just yankin' your chain, Sousa, it took me 4 years of 70-hour weeks alone with my FreeStockCharts, the only thing I could afford ofter a layoff and unemployment, before I partially cracked the quant code and learned to trade. I appreciate your viewpoint from your perspective, as long as you at least consider mine. The reason it works for them is that it's automated and impersonal, but the standard algos can't ramp against strong institutional selling pressure, which doesn't appear to be here yet, but if CALPERS and their friends decide to lighten up equities, even you'll be postin' in lowercase fonts, happy as a clam. Godspeed to you.
all good man it aint personal...
until someone makes that way...
Trade to the casket drops..
Can't blame the guy for listening to HIS QUANT!!! HIS QUANT!! He's from China,,,,DOESN'T EVEN SPEAK ENGLISH!
Good 'trade-off' between you & Souza. Fire in the belly, And Reason. One should have a good measure of both.
I view us as being on the same continuum, at different points in time.
When I was a newbie trader, getting crushed shorting the market in the QE era at 10:15 and 3:30 each day, despite suck-ass econ data (as KS might say), I was convinced conspiracy was rampant. After learning the timing of Fed operations and the importance of market-on-close orders, and finally discerning what the quants were doing thru chart study, it seemed more straightforward. Algos are lazy -- they like to start something and let others finish, taking the path of least resistance, often using long and short stops for fuel. Crazy Fed-fueled liquidity made longs more appropriate, they don’t care at all about ‘green’ finishes to fool Joe Investor – individual investors have been irrelevant for decades, now they dribble money in passively through 401(k)s. Month-end moves are less about “window-dressing” than index option strike-pinning, as many OPEXs have been horizontal for 3 days prior after a big initial positioning move the week before. If large pensions decide that a) rates will have to rise sharply; or b) a recession looms, then we’ll certainly end the year much lower, with algos snaking more down than up, but with their same annoying patterns, only in mirror-image of 2009-15.
Yes, but not using punctuation is as annoying.
tell that to ee cummings
Lighten up francis... and BTFD,
why doesnt the tylers calculate the odds of panic buying at the end of the day during the week before Option experation.
And "fingers crossed" that Iran lets the 10 US crewmen go - - - or maybe that's the fix for oil??
Just making a wild 'off the wall' guess......you must be holding short positions.
Jesus Christ Sosa did you just figure that out? I have been reading this site since 2009 and there hasn't been a single day they weren't laying out the scams for all to see, and predicting a market collapse.
Now after all these years we are getting one and some of us are making bank after fighting the Fed for 7 long years.
So get with the program and make some money shorting this pig.
could you please say it with more feling?
Only thing the bulls are accomplishing is to reload the VIX and get ready to shoot themselves in the foot.
So you are saying the Plunge Protection Team running the Exchange Stabilization Fund was in a state of panic??
1) Find losing financial asset.
2) Write up doomish article about financial asset.
2) Set up market order.
3) Submit market order.
4) Post doomish article.
WIN!
Keep on keeping on Mr. Sousa...we got your back!
signed,
The Vomiting Clown
more rises and falls than a Bangkok hookers knickers
Dead cats bounce.
I'm really unimpressed to say the least.
Seems the cat is losing all elasticity.
This thing looks like a dead man walking.
Its them cheap rubber cats outta hong kong.
Don't ever underestimate the Feral Reserve and their shadow bankster cronies.
yeah it is pretty pathetic. They are gasping for air and it is showing. Usually these markets after down days we had would erase damn near all losses in 1 session. Now the clowns can barely get it up. Prolonged use of Viagra has left their micro penis permanently limp.
What was mentioned yesterday seems to be looking more accurate: the Fed is only intervening enough to prevent losses from escalating into panic selling. They are attempting a controlled move down. I too would have expected 300 points or more up today on the Dow by the PPT.
As we discussed that is exactly what it seems. Plus with the actor making a speech tonight, it must look like normal business. Crude back to NYMEX close after API report after hitting $31 handle on low volume like equities.
Or they are holding back waiting on one of the gathering flock of swans to
finally land.
....over use of Viagra results in the blood sacks not filling, like an old tired balloon...........can't get it up...........that's what's happening......just some spurting toward the end of the session.........but not enough..........
That's it...I'm fucking calling PETA. I keep seeing the dead cats corpse being mutilated to the point there is only a little fur left. This shit is way out of hand.
Obozo's last State of the dis-Union tonight, needed to put a smiley face on Mr. Market
I heard that the State of the Union what kind of strange, because Obama did not talked about the current state of his country, but only about the future state of it.
Exact same thing happens every time Yellen speaks yet with her it is gold that gets clobbered. It is a sure thing. Every time, without fail.
sotu tonight = kiss of death for equities
All ten people watching have no other channel to turn to.
Feel sorry for those stuck in the airport lobby forced to watch it on cian
I'd watch if I knew someone with a big missile had the coordinates of the Capitol building locked in
Cost them a lot to ramp up stawks before the mackdaddy s last sotu speech. Hes Gona remind us that we aren't worthy of his greatness again