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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That thursday in 2005... or 2004?
Dow down 365pts today....economy in freefall.
You have it all wrong. The economy is scraping along the bottom already - now the markets are just crashing to catch up!
But But But the indexes closed off the lows, so its all good. Recovery is just around the corner I tell's YA
drumroll please......
"GoPro Inc. GPRO, +0.07% warned investors that holiday sales were disappointing Wednesday, and announced that it would cut its workforce by 7%.
The action-camera company said that it expects fourth-quarter revenue to be about $435 million, well below analysts' average expectations of $521 million, according to FactSet, and GoPro's guidance of $500 million to $550 million.
While noting that its workforce had grown by 50% annually in the past two years to a total of 1,500 at the end of 2015, GoPro said it would lay off 7% of its workers, incurring a charge of $5 million to $10 million.
GoPro stock has suffered a freefall after a booming initial public offering and early performance, declining 72% in the past six months. GoPro shares were halted ahead of Wednesday's announcement and were expected to begin trading again at 4:40 p.m. eastern time. The company expects to release full financial results for the fourth quarter and year on Feb. 3"
I think Powerball ticket sales are up. I was hoping to see that in the chart porn just to contrast with the others.
"......................."
Sincerely,
Kasier Sousa
haha Kaiser after the last few day rants, that was all I needed from you for a laugh. I'm picturing you looking at the close of the market today with a smile on your face, a middle finger at the screen saying "PUMP THAT BITCHES"
and drinkin'....
cheers.
"Death To The Money Changers!"
I hope your drinking The Glenlivet on the rocks. Johnny Walker, while good doesn't come close to a Glen on the rocks or neat.
calm and a smile
Kasier, your epic rants are getting reposted over on 3:30 RampCapitalLLC.
They're catching on.
kool.. i could use extra nickels...
Glad to see the "Woosah" helped. I hope you didn't turn an embolism into an aneurysm.
YEEEEEEEESSSSS!!!!!!
yo PPT...... wasup????
shhhhhh....Wake'm up "after" the shit hits the fan. Bluntly put.
As a friend of mine noted recently, this time it is probably gonna hit a turbine.
But Obama said...
Barforama! Attaboy Lard-ass!
S&P Down, Gold & Silver up. I hope rest of this year will be like today.
BUT BUT BUT HUSSEIN SAID LAST NIGHT HOW EVERYTHING IN THE ECONOMY IS AWESOME AND WE ARE BY FAR THE STRONGEST COUNTRY IN THE WORLD, SO WHY IS THIS HAPPENING?
WE CREATE SO MANY JOBS ACCORDING TO HUSSEIN, THIS ECONOMY IS AWESOME!!!!
hey rigged...can u please stop using caps when u issue completely lucid analysis on "THE STATE OF THE PROPAGANDA UNION".
its really annoying and stuff.
Annoying yet it adds doucheyness to the obvious sarcasm. Looks like my boss typing it.
So is the use of the word "UNION" in this case. I love the smell of a market crash in the morning, maybe tomorrow will be a great day! January days are usually so jaded and at best average. WEEEEEEE!!!!! It puts me in mind of the big metal slides that could really hurt you when i was little, hope the slope is down and right for this big one. Shared responsibility...those on the take can start handyman careers since the traditional job creators were taxed out of existence! see KS's rants over the last few days to get my take on taxation, starts with a giant F
we want the deer!!!
how about barfing deer? clowns and unicorns caught in headlights?
Deer are more of an EOW thing.
This will not stand....Bitchez! Signed the PPT!
They really are considering putting a block on the porn chanel during pumping hours.
best explanation of downward market pressure in about 7 years! Ummmm... Captain, we have a problem, two boats lost all power and are drifting...
Off the lows!
Prior to 2008 the Federal Reserve had no mortgage securities after that bubble burst the accumulated $1.5 trillion,the Fed and its proxies are now deflating this bubble and accumulating real assets all the way down,this is all about the club getting to own just about everything forget China,forget the recession this is all about the greatest fleecing their ever will pies.
Only a robbery if you allow it. If you have debt, then you agreed in the small print to be raped and pillaged.
Look at all the layoffs starvation and having to hold down 3 jobs is theft too,sorry about my post I botched the edit now it wont let me at it.
I know buddy and most of us took loans at some point. The main reason why is because all of us were taught that this is ok. We were all schooled on how usury is the way to financial freedom instead of enslavement.
It only works when you are buying something to so overwhelmingly increase your productivity that you can easily pay the money back. Using it to spend $1,000 a month on Starbucks and McDonalds on a credit card, not so much.
If satan is real he invented credit cards. The worse form of usury that is legal.
Credit Cards = Legalized Counterfeit.
OK, here's my list of shit I bought on credit after a bank paid me $9K to leave the foreclosure I was living in for six years while they paid the taxes and insurance (about $20K total, and I did them some favors with the assessors office).
Ya got that. Ok, here goes. All of this stuff was bought with CCs at 0% interest with varying maturities. Some have been paid off. Others, I am still paying at 0%.
150 ounces of silver (bars and junk)
4500w generator
5.7 acres of land with flat (arable), woods and stream (some of these 0% interest cards allowed me to actually direct cash to my bank account - bankers are really smarty, right?)
Various power tools
Shed-in-a-box (10x10)
29-foot motorhome (used, paid $500, deal of the decade)
40-foot shipping container (rented for 6 months - had a lot of stuff to store)
Apple MacBook pro (used $600, using it right now)
Some gardening implements, electronics, booze, food, toilet paper. I admit, I wasn't exactly frugal once I got the land and the silver)
So, I am still about $8K in debt, but the 0% interest ends at varying times beginning in April. I figure even if I do pay some interest, I'm still way ahead, since I started this 0% interest binge back in August of 2014.
Pretty much resettled now, hunkered down for winter.
Hello, I'm X and I'm a fucking debt junkie. So why don't you kill me?
What do you all think? Did I do OK?
you did well but taxpayers paid for it. So if they take your shitone day, you really have no claim nor would I defend you from them.
All, well most here outside of the happy faced .gov plants, have been where you are now and understand the blue pill/red pill situation you are in. It can literally make you vomit if you allow it. Read as much as you can here, and know that those of us here are all in various stages of confronting this in our own lives and maybe even some can help your mind adjust. The journey never ends, and getting those around you in your real life (not online-if you are of a certain age, rather not of a certain age yet) to see it may never happen, ever.
You can survive and even thrive if you pay attention to details.
Always the little things most do not see or want too, which become the biggest detail of their lives.
No 330ramp on equities but crude got it instead. Will fade by tomorrow open if not tonight when China goes against their own rules and haults the market.
My thoughts exactly. Let's see just how fast the Chinese Politburo can put their trading stops back in place.
Only saving Grace is the above chart on HYG compared with the SPX. On 1 year of data to 5 years of daily bars data. Yes we still have some catching up to do as the chart above indicates. But when using 6 months of data they met and kissed at close today. Could the markets jump tonight????? Maybe this is the temporary bottom to suck in shorts that entered below the 1900 Rubicon. Anyway here is a site and you can select the markets to compare HYG. Enjoy!
http://www.marketwatch.com/investing/fund/hyg
That BofA HY Energy Bond Yield chart looks like crap.
As President of the Association of American Tarp And Cardbord Box Realators, I'd like to bring to your attention that now.. is a good time to buy.
( or rent a tarp, lovely box or overpass space. Or maybe you know someone. Please. Working late. Taking all calls.....Thanks. Oh, anyone want a unopened set of steak knives?)
I want 22 tarps and 88 boxes. I am building a castle for some king, but with thinner walls. 22,000 sq. ft for 17 million dollars, a real bargain at under 800 dollars per sq. ft.!!!
As for the steak knives, you should sell them as home defense because everyone will be eating hamburger, when they can find it... then again, if you throw in a roll of aluminum foil i will take them. How many knives? 6? 8? The above castle will come with 6-8 sets of armour for your "knights of the pizza box" and state of the art weaponry for said knights.
Pretty much market is already on the other side of the bell curve.
It went up for 30 years, now its going down for 30 years.
The modern economy is indeed going down for 30 years, but at some point the numbers will go up.