Markets In Freefall: Stocks Extend Worst Ever Start To Year
Today's business media summarized...
Today's actual market summarized...
Let's start with this - The market has now reduced March rate-hike odds back to pre-December rate-hike levels (at just 35%)...
Two words - Policy... Error...
This remains the worst start to a year... ever...
Across the major US equity markets, it's a bloodbath...
*RUSSELL 2000 CAPS 22% DROP FROM JUNE RECORD, ENTERS BEAR MARKET
With the Nasdaq about to be the lasty major index to give up its post-QE3 gains...
Year to Date - it's just as ugly...
And since The Fed hiked rates...
VIX term structure inverted but we are a long way from an August-like panic-bottom...
There is at least some rationality resumiong as weak balance sheet stocks underperform strong balance sheet firms...
With selling out of the gate and only a small bounce in the last hour, equity markets carnaged...
FANGs entered a correction...
And FANTAsy stocks were smashed today...
Lots of head-scratching at how this is possible... except for anyone who pays attention to credit markets...
As HYG plunges to its lowest close since July 2009... Today was worst day in 4 weeks
US Energy credit risk is soaring back to near 2008 crisis highs...
h/t @JavierBlas2
While High yield bonds were crashing, Treasuries were aggressively bid (despite the Inbev issuance), on the verge of flash-crashing a few times after a stronmg 10Y auction...
The USDollar Index ended the day unchanged as early strength was sold - but it remains up on the week... CAD was smashed to new 12 yeasr lows
Gold ansd Silver rallied as Crude and Copper crumbled...
As stocks plunged at the US open so PMs ripped...
As if by magic, WTI's NYMEX close was adjusted very slightly higher to enable a tiny green print... but the trend was clear...
Charts: Bloomberg
Bonus Chart: Some food for thought...
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Cheney, Rumsfeld and Bush are retired
I love falling knives in the morning,,,reminds me of a republican strategist, right Jeb????
Please wait until we get to the bottom of the stairs.
Sort of a hollow satisfaction because I know so many people that have a lot of retirement in, still trying to "catch up" .
What!?!? No !?!?! Not a stair step event?!?!?
The same!
Come on Janet, just print up a few more trillion and buy the Dow to 20,000. It's not
like it's real money. Hell, we haven't had real money since Nixon.
I was just a small kid when Tricky Dick pulled that stunt, and I remember questioning my Chartered Accountant father about it when Tricky Dick authoritatively stated that he was moving the financial industry over to an oil backed dollar instead of a gold backed dollar. My father was amused at my interest in terms of what exactly backs the dollar and he assured me that Tricky Dick was taking contemporary finance in the right direction due to the fact that the imprimatur of the State was what actually backed the guarantee to be made whole if indeed the dollar ever failed.
I immediately told my old man that he was freaking nuts if he thought the backing of the State was good enough. Then, I asked him how I could hedge that bet and he told me I could collect old dimes & nickels to hedge on inflation with silver. He explained that silver held value slightly better than fiat. And I looked at him like I thought he was on Nixon's team of financial dreamers. From that juncture on I knew my Chartered Accountant father trusted the system, and his colleagues in it. And that's where I parted ways with dear old dad.
Yep, the whole swamp land in florida thing here too. Amazing how brainwashed society became after the second world war...hook line and sinker and as you know you remove the guts of the fish, killing it instantly, if you pull it out or cut the line and keep it alive for a while living with all that stuck inside and all that when that happens (what happens to a society in this type of case? I think we are about to find out) and neither option is ideal.
My father still has faith in the bogus markets, and thinks the FED can manage this thing indefinetly. For his sake i hope so, for mine it matters not.
I told my Dad his XOM would go down throughout 2016 along with the rest of the market, and that I was completely certain of it.
He looked at me like I was insane. Actually, he always has.
My Dad taught me how to stack Gold and Silver, and that what you had was Nobody's business
he also taught me to Be Very frugal. Some call it Being Cheep........ He also taught me to keep your hands in Dirt ( gardening ) very smart man.
My dad taught me to fix/maintain my own truck and tractor, how to shoot like a pro, that there is no such thing as a fair fight, and that television is bad for one's health.
God bless you, Pops.
When I was a small kid, if I told my dad he was freaking nuts I might not be here now making this comment.
My father always realized that I was smarter than he was when it came to Engineering. If I questioned something on technical aspects he always smiled and listened to my explanation because he knew I was into technical stuff more than he was. When I told him he was nuts to trust the Gubbermint he just chalked it up to me being me and went back to watching the news.
About 1964 my Grandfather told me to collect all the 90% silver coins I could
So I did.
Right on. Please tell me what the tally is to date? I figured it would take walls upon walls of silver bars to hedge over my lifetime so I gave up on collecting silver dimes n' nickels, and the whole idea of collecting silver. And today I would state that Real Estate is the best investment of all time.
Lucy was right all along IMHO.
Also have been losing manufacturing base since Nixon/Kissinger decision to stiff Soviets by opening China.
Janet Yellen - The economy has (vomit) never been stronger (vomit).
Vomit-driven algorithmic trading on the horizon?
UH OH.....one of Cramer's faves is puking too.......GoPro is going Polaroid.....
http://www.cnbc.com/2016/01/13/gopro-halted-for-news-pending.html
he said to jump in at what 65? bwaaaaa!
opens at 11, then sell ...
Wanna guess who was closing out their bet when the muppets were jumping in at $65? My guess:
Rhymes with Jim Cramer...
It was a matter of time the chinese knockoffs caught up with them. There are about 5 GoPro clones out there that do the same thing for about 1/5th the cost. There is:
HoLeFookPro
WiTuLoPro
SumTingWongPro
and BangDingOwPro
How anyone thought that GoPro would be able to hold some kind of ensconsed innovative shareholder value is puzzling. It's consumer electronics for god sakes.
LOL Here's some shareholder value: http://www.cnbc.com/2015/12/22/gopro-ceos-new-toy-a-180-foot-yacht.html
Suckers!
FukDatBichPro?
I thought the headline read Cramer-on-a-Stick.
Talk about disappointed
"Nobody saw this coming"
Tyler doesnt give us a heads up very often...even when its purely headline driven.
You would think ZH would replace one of its ugly banners with something that would persist for a few days and help the readers that buy into the stories read here.
What would Gartman do?
Help; our basement algobot computers have dc volt power supplies ...
so if we just reverse the + lead with the - lead, we should make bank on the way down too, right ?
TIA, JPM prop desk tech support guy : /
They are going to have to ban drones around HFT towers in addition to airports:
http://www.zerohedge.com/news/2015-12-27/meanwhile-over-new-york-stock-e...
Someone must have blocked the laser!
A flock of black swans will do that.
Fuck'em.
Learn from ISIS and use helium filled condoms.
Also tether them to the ground at the right height.
Set them up at night and hopefully they will fuck up their opening minutes skim.
There goes the dip.
We picked a bad year to stop sniffing glue.
"Looks like I pick the wrong week to quit amphetamines"
Just watched Airplane! the other night. Classic....
Oil is cheap going back to sniffing gassoline
And then the Arabs came and they all bought Mercedes Benzes.
Look's like a bad week for Obama to stop licking ol Yellens balls.
Yes friends, try to get that picture out of your head.
I am the downvote and here is why:
That image is burned in and i will be pissed until it goes away...
Outside of that, beautiful job. Damnit!!
I'm laughing my ass off and one of the thumbs up.
Would you rather have the image of Obama's cavernous asshole with Reggie's balls hanging from it?
We;re used to it with moochi. Grandma Yellen's pfeffernusse aint a big leap.
"If you want a vision of the future, imagine Old Yellen teabagging on a human face - forever."
You have my permission to crochet that on a pillow...or make a bumpersticker, up to you.
VIX trading at half what it was last summer down here is such a bad sign for the bulls.
Suck on that!
We suckered some folks.
When the is the + 400 coming
+400 on Thursday.
I think Janet just threw up in her mouth a little bit.
Didn't she already do that a while back when she tried to bullsh....oops, I mean explain something?
when WHAT freezes over?
Would that be a Thursday in 2016? Or...