Black Friday

Tyler Durden's picture

Unleash hell...

And this...

Worst Start To A Year... Ever!

 

It's ugly in 'Murica...

 

Of course - it's not just US, China has collapsed this year...(Worst start to a year ever)

Japan was a shitshow..

 

And Europe is in a bear market having erased all of the Q€ gains... (Worst start to a year ever)

 

The day in stocks...

  • *NASDAQ COMPOSITE INDEX SINKS 2.7% TO LOWEST IN 14 MONTHS
  • *S&P 500 FALLS 2.2% TO LOWEST LEVEL SINCE AUG. 25

But that level was heavily defended...

 

 

The week in stocks... worst 3-week drop in S&P, Dow, Trannies, Small Caps, and Nasdaq since Aug 2011

 

2016 in stocks...

 

Since The Fed rate-hike in stocks...

 

Since The Fed across asset-classes...

 

Since the end of QE3 in stocks...

 

It's a bloodbath in FANGs and Biotechs...

 

FANTAsy stocks are really ugly year-to-date (cap-weighted FANGs are down 12% YTD, Biotechs -17%)

 

Surprise - Equity markets catch down to on balance volume...

 

Financials bloodbathery fell to catch down to credit...

 

On the week, credit remains the leader...

 

But credit signals more pain to come... in stocks...

 

Especially in the most credit-sensitive small caps...

 

And VIX...

 

With Energy credit risk at its highest on record...

Carnage Continues, Energy Yields Set Record High

(Bloomberg) -- WTI oil has dropped to a new 12y low, falling below $30/bbl, triggering a broad sell-off across asset classes, with equities dropping 2.6%, HY ETFs falling 1.6% (lowest levels since 9/09), HYCDX slipping 1.1% and cash bonds falling across sectors led by oil companies in the Energy sector.

 

The BofAML U.S. HY Energy index YTW set a new historical high last night closing at 17.43%, surpassing the 17.048% close on 12/5/2008 during the height of the financial crisis

 

As of Wednesday’s close, the BofAML U.S. HY Energy index option adjusted spread to Tsys closed at +1,501, eclipsing the previous wide level seen at the height of the crisis of +1,494 on 12/5/2008

 

Energy bonds were roiled led by Sanchez Energy which plummeted 32% intraday followed by EP Energy (-15%), Whiting Petroleum (-13%), and Oasis Petroleum (-11%)

 

As Energy, Materials, and Financials lead the collapse in stocks since The Fed rate-hike...

 

Treasury yields collapsed this week (with the curve flat)...

 

And the USD Index gave up some of its gains to end the week up 0.3%... USDJPY dropped 0.25% on the week

  • *RUSSIAN RUBLE WEAKENS 2% TO 77.603 PER DOLLAR, RECORD-LOW CLOSE

Commodities were a mess with Gold and silver best (unch to modestly lower) while copper and crude were clubbed...

 

Crude closed below $30 for the first time since September 2003...

 

Charts: Bloomberg

Bonus Chart: Rate-Hike Odds have plunged...

Bonus Bonus Chart: Value is collapsing and Momentum remains high post-QE3 - we suspect that will revert... (h/t @groditi)

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Soul Glow's picture

Anyone claiming that America’s economy is in decline is peddling fiction.

Oh, and stay out of the bathroom.

greenskeeper carl's picture

no 330 ramp? those guys are slipping.

jeff montanye's picture

smoking that bleeding hopium.  imported from libya or maybe syria.

obama gives race mixing a bad name.

you know people aren't going to blame each half equally.

is that what he wanted?  send back the bust of churchill as a colonialist indeed.

wee-weed up's picture

 

 

But... but... Obozo just told us at the SOTU speech the US economy is doing wonderful.

Surely, he would not lie to us... would he?

TeamDepends's picture

Maybe we could build a fire, sing a few songs.

Lorca's Novena's picture

"This little girls survived 3 months on her own"

"Why dont you put HER in chaaaarge!!!! "

 

 

*had to ;-)

Luck Dragon's picture

Eventually every magician will run out of tricks.

ali_baba's picture

This IS one of their tricks. Their purpose is to destroy the economy for something BIG thats coming. This shit is about to get real.

HardlyZero's picture

Idiocracy at work:

1. the source of economic hopium is Walmart.

2. Walmart is shutting down some stores.

3. Less hopium.

 

Maybe fantasy sports will improve the GDP ?

I hear ads on AM radio for fantasy sports picks now.

 

One of these days Alice ! 

Stainless Steel Rat's picture

Best single day in the market in a long time! :-D

AldousHuxley's picture

Black Friday Sale

on equities

 

This is how petrodollar elites are forcing everyone to buy Treasuries which Asians no longer are buying.

Save_America1st's picture

check out this GSCI - Goldman Sachs Commodities Index Chart on this video podcast at SGTReport.com from a couple days ago! 

It's now back to the lows of...wait for it...........1974!!! 

https://www.youtube.com/watch?v=s3hzBdmBlQY

They start talking about it and show the chart a little after the first minute or so of the beginning of the video.  It states that ALL GAINS in the commodity super-cycle over the last 42 years have now been ERASED!

Now that's a roundtrip chart that'll make any unicorn puke rainbows and skittles.

keep stackin' silver phyzz, bitchez.  It's as cheap now as anytime in history.  Load up the truck. 

Squid-puppets a-go-go's picture

keep telling yez. PPT has been sent home because europes bail in legislation took effect 1 jan. all sheep now in the pen. gates can be closed

Stainless Steel Rat's picture

Now for three days of being locked in and waiting for the Tuesday crude rebound with UCO.  Nervous...

juangrande's picture

https://www.youtube.com/watch?v=aMIkQkTy-Nk    

 

Sorry, couldn't find an original Dan version.

 

 

 

 

Nutsack's picture

Ummmmmmmmmmmmm the stock market and the economy are not the same thing, unless the stock market is doing good!

mkkby's picture

Ho hum, barely even scratching off the surface of the frothy gains made sine 2009.  Wake me when it's down 50% from the highs.  Then I'll agree something big is happening.

Implied Violins's picture

Nah, down to 666. Already got the hat. It comes with horns.

gatorengineer's picture

couldnt agree more, I love the show so far, but until there is a source of systemic collapse this is easily turnable.  Glencore or a hedgie blowing uo and then we can start

Countrybunkererd's picture

The people that listen to, ok I will be kind, the people that believe anything spewing from his mouth have no idea the market even changed today.  They will note the change when their local wal-mart closes the doors and blame the investors greed when they have to drive 15 miles more to get to the other one nearby.

The reason Odumb@$$ and kind say the pie in the sky dreamworld things is because it works...people do believe it.  Anybody know the percentage of US citizens that looks at the market 1 time or less a year?  Seriously, I am curious.  But they can name 10 players on 10 NFL teams up to date for that week.  I can't even remember the last superbowl I watched... 1998 maybe whatever # that was? then again, that is not entertainment in my mind.  Nothing against football, it is just that their idea of investing is betting on the games and they are fine with people throwing things at injured players (heard it from a client- the only player i can name Ben Rothsomething.burger/berger)

Eyeroller's picture

If their 401Ks are wiped out, they will start to pay attention.

roodeetoodee's picture

Like how they did after 2008 GFC? Truth is they won't. Cos they are lazy and stupid which is why they have such a very small slice of the pie and get what they're given.

 

I watch birds fly around all day taking care of tomorrow. Your average western human bean does very little planning or minding at all.

HamFistedIdiot's picture

Nor are people paying attention to the ongoing heavy metal spraying that is clogging our skies and shredding the ozone, which is, among other things, part of a plan to reduce the $200 trillion in unfunded .gov liabilities. Plus, the elites don't give a fuck about us anyway. Wake up. The smell of death is in the air.

http://www.geoengineeringwatch.org

SoDamnMad's picture

roodeetoodee

Didja see the "cinnamon" who has a GoFundMe campaign going because she spent all her money buying PB lotto tickets and can't go home because she has no money. And some idiots have donated $800  already.

TVP's picture

"Your average western human bean does very little planning or minding at all."

Funny you mention this.  Few years ago, I told my brother (an intelligent computer programmer) about the nation's coming bankruptcy.  I explained the simple arithmetic - no opinion whatsoever inserted.  

His response was to proclaim that business will boom in America and wipe out the debt - even though I had just explained how that was mathematically impossible, he maintained with full confidence and authority that 2 + 2 = 0.  

And when I spoke of preparing for the coming catastrophe, he said this: "Yeah, but if you're worried about what's gonna happen later, you're not worried about right now, right".  

I was so shocked I had no response.  This dumbass hasn't even noticed his 401K losses yet I'm sure, too busy watching football.  One time we got into an argument about 9/11, it became obvious how ignorant he was, and at one point he gave up and said, "I have a life, I can't think about that stuff", insinuating that anyone informed by definition cannot have a life.  Then he watched football the entire next day.  

A Nanny Moose's picture

THOSE people don't even have $500 in the bank, much less a 401K

willwork4food's picture

If their 401Ks are wiped out, they will start to pay attention.

I've been trying to make sense with Mrs. Will for a few years and it's like "you always say that".

OK, so I was a little wrong about Y2k....

Miffed Microbiologist's picture

Well, we have numerous 5 gallon containers filled with essentials at the family farm basement. Yes, I'm hoping most will keep being vacuum sealed. Ok, probably not the choicest of eats but I figure if I am tapping into them I am not going to be picky.

Mr tried to tell me Y2k was COBOL programmers last stab of revenge before descending into obscurity but I got carried away by all the hype. Another valid argument for discarding TV.

Miffed

Lorca's Novena's picture

lol y2k.... I listened to Art Bell back in those days, for entertainement mainly, but I bought that hype as well, bought a generator FOR A CONDO, sigh... Went to return it and they had some rule about restocking fees of 50% or something. dumb me.

vollderlerby's picture

George Carlin was right.  Stop complaining about the politicians and other "leaders".  The public elects them and allows this shit to go on:  https://www.youtube.com/watch?v=rVXekzwkz10

 

 

Kayman's picture

Obama couldn't hold Churchill's cigar- no not there you cheeky monkey.

August's picture

I have to admit that Mr. Churchill "had what it takes" in terms of WW2:

Good oratorical skills, and the willingness to sell out Britain's interests to the USA.

Socratic Dog's picture

Not to mention the willingness to slaughter millions, nay, 10's of millions, of civilians in cold blood, and rest easy at night.  Quite the statesman.

Bangin7GramRocks's picture

"The black is the superior Friday." - Jimmy the Greek

Lumberjack's picture

They were shorting their shorts.

2ndamendment's picture

I don't know where I read this but I think I heard this is the worst start for the stawk market EVER. Did anyone else hear this too?  ;-)

SuperRay's picture

You must be one of those conspiracy theorist types running around peddling fiction.

nink's picture

They tried hard but PPT not enough ammunition

jeff montanye's picture

john hussman has explained this chapter and verse: qe buoys markets when investors are wont to speculate.  it is powerless when they are not and system liquidity is not a constraint which it certainly isn't at this stage.

Bangin7GramRocks's picture

Whaaaaaatevvvvvaaaa! The Fed announces QE4 and the "market" jumps 2000 points. That's all you need to know. It's all so obvious now.