Black Friday
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)
(32 votes)
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....how does ya say cluster fuck....
in Chinese
CRuster Fruck
Crusterfruck !!
Too bad for Janet that when Bernanke left he took that quiver full of arrows with him.
///sarc.
i believe ben was arrowless upon exit.
I upvoted you, but we still ain't seen shit when it comes to printing money. Just wait.
It sure looks like they tried all day long but the algos have been modified. The PPT is being used like the cheap whore that it is. It's just an ATM for a few select hedge funds right now.
Hard to tease apart intent today from OPEX and holiday short-covering, but with small caps ending a full percent above the lows, along with some "heavy", lugubrious intraday action, it sure looks to me like some institutions were nibbling, perhaps a bad habit engendered from years of ZIRP, in which V-bottoms left them behind.
Though this could lead to a few tough days for shorts ahead, in the end the new sell stops a bit below today's action (for surely they can't afford to start off behind the 8 ball in perf if this is a protracted bear) could provide just the catalyst for the next leg down, if any.
Traders getting flat before a long weekend. Watch for a face ripping rally on tuesday as they re-enter positions. Hope you are not short.
If the PPT is loading up on equities as the market crashes, does that not at some point become tantamount to nationalization?
Yes...and we have already been there for decades...
Take the red pill and you will understand...
Gott mit uns...
Goldman has it's shorts in place. Time to fleece the sheep.
The title of this article is rayciss
Oh great, another one of those weekends...
Monday is a holiday too, no?
Ugh.
Bank Holiday.
Bail In on tuesday. You get to pick whats behind door #3.
http://www.marketwatch.com/investing/stock/terp
Watch JP Morgan.....
this is one of those Fridays i should go to the bank and get everything out of the safe deposit box?
no need, they cleaned it our for you
Yes indeed...
https://www.rt.com/usa/329110-goldman-financial-crisis-settlement/
After they pumped the carcass full of bloat in '08, through the magic of the modern, US financial corruption miracle, GS now has enough bloat to give a little back to their enablers.
Yeah, the bank president's girlfriend is enjoying your precious baubles right now...
Bail In on tuesday.
It's not near bad enough yet for bailins. All of the money in all the retirement funds, 401(k)s, professionally managed pension funds, etc has to be stolen from the stock and bond markets first. Only after all of that has been stolen, THEN the bailins will start, in order to steal the rest.
Anything still within the reach of the "financial system" will be stolen. For your protection, it will be converted into "Safe and Secure" US Treasury Bonds, the risk-free standard. That is, if it isn't first outright stolen from you.
And then, after that, the USD will be collapsed, and your bonds will be worthless, stealing that from you, too.
IOW, the purpose of the government, and the "financial system", is to steal from you. Legally. That is all.
Right. USSA has too much money in private accounts. Bail-ins are already the fad across the EUSSR because there ain't no private savings left.
Um, idiots -- no bail ins for US banks. Remember FDIC insurance and printing the reserve currency.
Bail ins are for countries that can't print their way out. You'll get more of the same inflation seen since 1933, though.
I think FDIC coverage was quietly cut back about a year ago.
Still at $250K per depositor per bank......
https://www.fdic.gov/deposit/deposits/
But, there is also this to consider:
https://www.fdic.gov/about/srac/2012/gsifi.pdf
(Refer to Point 13 on page 3 in the document, or page 6 of 18 in the browser and the article below)
http://www.huffingtonpost.com/ellen-brown/banks-confiscation_b_2957937.html
comment of the yr so far..............
as was this one you wrote in 2010..........
''We cannot move forward until we unlearn easy money. There is no goddamned easy money. It was a mirage, brought to us by 25 years of constantly lowering interest rates. The new financial class, born in this environment, is having the hardest time of all coming to grips with this. How can it be possible for so many to "earn" so much money while doing nothing other than buying and selling promises? It's ludicrous, and of course it's unsustainable. But they are the loudest advocates of propping up the status quo, because it is their destructive skimming and their self-indulgent lifestyles that are threatened the most by reality.''
http://www.zerohedge.com/article/are-pension-liabilities-set-explode#com...
You are hereby nominated to the high position of zh historian!
Kudos for finding these gems.
pods
pods, thank you for your kind words............
Yes it's Micheal King day.
Black as in a "Black Hole" friday.
Money Pit Friday.
That's what Reggie said!
Black Friday '87 was followed by Super Black Monday....
The fiction has some traction...
"Oh, and stay out of the bathroom."
You may have meant 'Stay out of the bathhouse."
Maybe they are peddling Pulp Fiction.
And I thought Jimmy Carter was clueless....
ITS ALL RELATIVE
Anyone claiming that America’s economy is in decline is peddling fiction.
Oh, and I'll be in the bathroom.....with Reggie.
FIFY Soul Glow
Ovomit: Buy stocks - I am 100% certain there will be no Black Monday next week in the U.S. stock market.
The real Candy Samples had much bigger boobs. :>D
Superb lead comment, Soul.
Is it not interesting that when the Left wants something, America is one big picture of people going hungry, food stamps, homeless hoardes on the street, Wall Street corruption, slave wages, sexual discrimination, inequality of all sorts and so on.
When they are in charge and time for the State of the Union, we are just inches away from Nirvana or Utopia. Perhaps it matters if they are looking out of their left eye or right eye because they do not seem to see the same things.
How I imagine majority on the Kool-Aid.
https://youtu.be/bOBZw_JZZ44?t=96Can't we just go back in time like two weeks? Things were so awesome then.
Good idea.
Dirty bomb in New York then to the back-up.
2 billion to buy into the close and all she did was burp
Why fart and waste it when you can burp and taste it.
What does this even mean?
Preposterous, there's few things like the rich smell of your own fart.