This page has been archived and commenting is disabled.

And Another Twang Moment For The Broken Market

Tyler Durden's picture




 

It seemed as Rajoy and Monti let us all down, so something 'snapped'. EURUSD cracked lower and Spanish and Italian bonds re-accelerated lower but most critically an anomalously large volume rip went through S&P 500 e-mini futures (ES). 72,000 contracts traded very suddenly dragging ES down 8pts as it crossed the almighty VWAP line. 65,000 down volume or around $4.4bn notional equivalent wanted out very rapidly.

The dark red line is the VWAP and lower pane shows huge sudden volume spike...

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 08/02/2012 - 11:12 | 2672329 Neethgie
Neethgie's picture

Draghi just followed his goldman root's, he said dont bet against the euro

= short euro.

apple doesnt fall far from the tree

Thu, 08/02/2012 - 11:20 | 2672347 SheepDog-One
SheepDog-One's picture

When you're a Shit Apple, and you fall in a field of shit, it doesnt have any choice its going to grow up into a Shitapple tree. Shit Apple - YouTube

 

Thu, 08/02/2012 - 11:51 | 2672488 bdc63
bdc63's picture

oops ... sorry.  that was me.  but it was just a "coding" problem and it's fixed now, so I only lost a couple of hundred million.  no worries.

Thu, 08/02/2012 - 11:13 | 2672334 john_connor
john_connor's picture

No one cares when its a low volume melt up. 

Thu, 08/02/2012 - 11:21 | 2672374 SheepDog-One
SheepDog-One's picture

Yep, theres only ever a 'problem' in markets when they go in the down direction. Markets could go up 10% in the next hour and it would only be a mass celebration.

Thu, 08/02/2012 - 11:39 | 2672431 mktfizx
mktfizx's picture

Anyone know what time the ppt takes lunch?

Thu, 08/02/2012 - 11:42 | 2672440 Bluntly Put
Bluntly Put's picture

Well in a culture where individual value is constantly degraded it makes sense that those with the control of the means and methods of production would want to sell the idea that owning some "stock" in the major corporate bodies of our country is "valuable", no matter how small or intagible that "ownership" may be.

Thu, 08/02/2012 - 11:13 | 2672336 scatterbrains
scatterbrains's picture

and yet gasoline etf UGA is up 2+ % today and soon pressing all time highs on lack of printing disapointment... aint that a bitch.

Thu, 08/02/2012 - 11:20 | 2672368 LawsofPhysics
LawsofPhysics's picture

regardless of the "market" people still need to go places and get shit done, imagine that.

Thu, 08/02/2012 - 11:24 | 2672387 SheepDog-One
SheepDog-One's picture

Yep! People always got to go buy iGadgets and those 5 gallon buckets of Cheezy Poofs at Walmart....the consumin' must go ON!

Thu, 08/02/2012 - 11:32 | 2672410 malikai
malikai's picture

I miss cheetos. Can't get them in Britain. I'll trade them for silver some day.

Thu, 08/02/2012 - 11:45 | 2672461 Winston of Oceania
Winston of Oceania's picture

Well if you've seen cheetos in a Brits teeth you'd know why...

Thu, 08/02/2012 - 11:14 | 2672337 -1Delta
-1Delta's picture

speaking of broken how about the RIN/ethanol market??

 

http://commodmarkets.com/2012/08/02/corn-thots-yield-estimates-ethanol-m...

 

Thu, 08/02/2012 - 11:14 | 2672338 SheepDog-One
SheepDog-One's picture

Um...who wants free monies? Anyone?

Thu, 08/02/2012 - 11:15 | 2672342 doc_in_the_house
doc_in_the_house's picture

WHO IS UR DADDY?? LOL !!

been riding SHORTS since spx 1386 last Fri 7/27..rode through bs fed = rapist announcement yesterday!!

LAST FRI (7/27

i called the TOP of gold @ 1630

http://www.zerohedge.com/news/what-does-gold-know-all-other-asset-classes-dont#comment-2656632

and i shorted HEAVILY spx @ 1386 within minutes!! been riding ever since...shorted EUR @ 1.232..missed the peak @ 1.24, was doing something else

http://www.zerohedge.com/news/visualizing-todays-last-second-60000-e-mini-contract-wipe-out?page=1#comment-2666831

will keep RIDING til next week when @ sub spx 1300. cover shorts b4 dead cat bounce and re-short and ride til sub 1100. and EUR sub 1.10

 

Thu, 08/02/2012 - 11:20 | 2672366 alien-IQ
alien-IQ's picture

congratulation...but don't gloat. people hate that shit.

Thu, 08/02/2012 - 11:24 | 2672386 doc_in_the_house
doc_in_the_house's picture

i will GLOAT and i

don't give a rat's behind what STUPID DAYTRADER'S think = they live in a 1 minute sphere...= don't know how to SHORT PEAKS and COVER SHORTS on major dumps... = NOT MY PROBLEM !!

they are STUPID PERFORMANCE CHASERS = NOT MY PROBLEM !!

Thu, 08/02/2012 - 11:29 | 2672404 Tinky
Tinky's picture

"i will GLOAT"

I'm having trouble recalling a single, truly successful investor who has ever uttered those words. I'm sure that you're an exception, though.

Thu, 08/02/2012 - 11:42 | 2672441 Winston of Oceania
Winston of Oceania's picture

This time he's different?

Thu, 08/02/2012 - 11:31 | 2672408 J 457
J 457's picture

Yea, sure you did....You say SPX 1,300 next week.  Come back next week and tell us if you were right.

Thu, 08/02/2012 - 11:33 | 2672416 5880
5880's picture

Another dentist wannabe trader

Thu, 08/02/2012 - 11:42 | 2672444 NotApplicable
NotApplicable's picture

My dentist is a real estate "investor." LOL

Thu, 08/02/2012 - 11:48 | 2672470 doc_in_the_house
doc_in_the_house's picture

i've been at the casino since 2000 !!

i know how to short peaks and cover on major dumps...b4 dead cat bounces.

spx, EUR, commodities. it was somewhat painful my friend at the BEGINNING..= following the MAINSTREAM'S MEDIA'S "PRICELESS" advice  = performance chasing..

Thu, 08/02/2012 - 11:35 | 2672420 tarsubil
tarsubil's picture

If I were to bet, my guess is that you'll be destroyed after catching a falling knife. You called a 1630 top last Friday. Woop dee doo. You're like a chain smoking jump suit wearing retiree bragging about winning money on the slots last Friday. Since you're such a class act, my advice is to keep playing because you clearly can't lose.

Thu, 08/02/2012 - 11:57 | 2672513 doc_in_the_house
doc_in_the_house's picture

i have provided link

to PROVE i called the TOP of gold last Fri @ 1630...i ALSO called the TOP of gold @ 1900 in sept. 2011 = when marc faber was saying: "DON'T PANIC" when dropping to 1850 !! i called the MAJOR TOP of gold @ 1900 ALL ON MY OWN.  THEN on vet's day 2011 the crank-a-holic cramer (cnbc)  said to buy gold @ 1800 = short more !!

i also called the TOP of silver in april 2011..the shoe shine boy cramer (cnbc) was saying to buy silver @ $45....i called the top @ $49....TOP = $50.

any questions?? LOL !!

Thu, 08/02/2012 - 12:23 | 2672626 BlueCollaredOne
BlueCollaredOne's picture

While everyone else downvotes you, I upvote you out of pity.  You must either be really lonely to feel the need to come on here and yell "look at me everybody!!!", or must not have received enough attention as a child. 

I find it odd that a grown ass man still feels the need to receive adulation from a group of anonymous commenters. 

It appears you have a good grasp on investing in the markets, now how about you buy a few self help books and work through whatever it is that is holding you back from inner peace. 

Thu, 08/02/2012 - 12:32 | 2672662 doc_in_the_house
doc_in_the_house's picture

ROFLMAO !!

yes the inner child in me needs attention..LOL !! ok time to go to chuck e cheese !!! no worries, its 0930 PST here in CA.  Got my swing shift at my regular job = my chosen career = a REAL CAREER, not a "massage your money and take a CUT job" = WS

swing shift begins shortly after casino closes in CA @ 1300 = 1600 EST.

anyways got a diaper to change...NOT MINE..but my 15 month's old daughter. SHE is the one that needs attention...ROFLMAO !!!

Thu, 08/02/2012 - 14:06 | 2673181 Lord Blankcheck
Lord Blankcheck's picture

CA is on daylight time.Do you show up an hour early everyday?

Thu, 08/02/2012 - 11:39 | 2672430 Landrew
Landrew's picture

Holding BAC Oct. puts @ 7 and I wasn't gloating Monday and now I am keeping the smiles to myself, bad Karma public gloating.

Thu, 08/02/2012 - 11:41 | 2672436 alien-IQ
alien-IQ's picture

then knock yourself out cowboy. we all enjoy watching people make fools of themselves.

thanks for the laughs.

Thu, 08/02/2012 - 11:51 | 2672485 poor fella
poor fella's picture

Whenever I get lucky with a double digit bagger I find it's best to treat one's awesomeness to a $200k bottle of bubbly at the local swankity retro bar and earn some friends for a few hours. The music is too loud so it's hard to hear what anyone is saying, but at least they KNOW I'M DA SHIT YO!!!

Thu, 08/02/2012 - 12:01 | 2672535 Bohm Squad
Bohm Squad's picture

...And this too shall pass.

Thu, 08/02/2012 - 13:15 | 2672923 Bizaro World
Bizaro World's picture

DITH - the only thing you've convinced everyone of is that a) you're a prick that thinks too highly of himself and b) you owe all your current gains (assuming you cash them in) to ZH....if you have made such "incredibly insightful" moves and reaped the rewards with large gains, you should be one of ZH's top five contributors.........

BW

Thu, 08/02/2012 - 11:25 | 2672394 buzzsaw99
buzzsaw99's picture

a trading blog log and a link will suffice.

Thu, 08/02/2012 - 11:41 | 2672435 NotApplicable
NotApplicable's picture

What??? You don't think cutting and pasting it in every thread is a public service?

Personally, I believe anyone who has any "money" sitting in a margin account doesn't truly understand that it's now JPM's money that they use against you to clear out the stops.

He may have numbers in an account, but he'll never make it to the exits in order to realize its purchasing power. Although they may let him have enough to pay taxes on the "gains."

Thu, 08/02/2012 - 11:40 | 2672434 Winston of Oceania
Winston of Oceania's picture

Enjoy your gambling, but do tell us how you will get out of a trade before the bots crash the stock, you know before 2 milliseconds are up...

Thu, 08/02/2012 - 11:45 | 2672455 NotApplicable
NotApplicable's picture

Better hope they don't break out the fantasecond device again. It's really hard to compete against trades that happen in advance of the quote.

Or is that the challenge that makes it all worthwhile?

Thu, 08/02/2012 - 11:45 | 2672460 doc_in_the_house
doc_in_the_house's picture

all THOSE thumbdowns = jealous stupid daytraders !!

LOL !!!

at peaks when i short = i get lots of thumbs down from bulls

at major dumps when i announce i'm covering = thumbs downs from bears

thank you SHOE SHINE BOYZ !!

Thu, 08/02/2012 - 11:58 | 2672518 11b40
11b40's picture

Works great - until it doesn't.

This is the voice of experience speaking.  I once thought I was invisible and bulletproof.  Humble pie taste like shit, and I have had my fill of it.

Experience = when you don't get what you thought you were going to get...you get experience instead.  Good luck, cowboy doc.

Thu, 08/02/2012 - 12:02 | 2672547 IndicaTive
IndicaTive's picture

I don't trade. You just sound like a prick.

Thu, 08/02/2012 - 12:12 | 2672580 fuu
fuu's picture

You didn't call shit in gold.

"has gold peaked @ 1630?"

Thu, 08/02/2012 - 11:16 | 2672344 Jlmadyson
Jlmadyson's picture

7.1 for Spain and -0.097 for German 2;

This market should be giving back all the Draghi drug and more.

Thu, 08/02/2012 - 11:18 | 2672354 alien-IQ
alien-IQ's picture

EUR/USD now back to where it was prior to the Mario miracle announcement.

I expect another "miracle announcement" at 1.18

Thu, 08/02/2012 - 11:19 | 2672355 piceridu
Thu, 08/02/2012 - 11:52 | 2672491 bdc63
bdc63's picture

OT: bdc63 ... on why bill gross sucks ...

Thu, 08/02/2012 - 11:20 | 2672357 doc_in_the_house
doc_in_the_house's picture

draghi to CRANK-A-HOLIC "market"

HERE IS UR ESCARGO, MONSIEUR...ROFLMAO !!! = it only has 1 FINGER.....LOL !!

Thu, 08/02/2012 - 11:20 | 2672370 Jlmadyson
Jlmadyson's picture

Just a little hit Mr Draghi. Anything sir.....

Thu, 08/02/2012 - 12:41 | 2672699 Landrew
Landrew's picture

Before you go full-blown crackhead on us, what is your next trade? That is if you care to disclose ahead of time. I trade only five options on the Dow only at the money and only those with volume no less than one month out. That's my risk level. My average hold time one week and I follow the trend of the SP 500 50 dma on the sign. A nickel there and dime there X 30k is a nice return off the big boys hide. Greed kills capital, whenever I think I never make mistakes I take a vacation ha! So tell us what stats you use?

Thu, 08/02/2012 - 11:19 | 2672358 Dr. Engali
Dr. Engali's picture

Margin calls bitchez!

Thu, 08/02/2012 - 11:19 | 2672359 adr
adr's picture

Plans for plans of future plans, Check!

Disappointing speeches, Check!

Bloomberg headlines proclaiming the exact opposite of what the speech said, Check!

Coordinated perfectly timed buys to prevent market selloff, Check!

 

The market should be down over 3%. Instead it isn't even down 1%. WAY TO GO PPT!!! You earned your ridiculous salaries today.

 

Thu, 08/02/2012 - 14:57 | 2673404 Law97
Law97's picture

And don't forget factory orders tanked...Check.

Thu, 08/02/2012 - 11:19 | 2672361 milanitaly
milanitaly's picture

We will be forced soon to buy all our public debt (italian newspapers already write that)

We will do it but then i want say good bye germany and euro.

Thu, 08/02/2012 - 11:24 | 2672385 piceridu
piceridu's picture

caspita! E' la verita'.

Thu, 08/02/2012 - 11:19 | 2672362 youngman
youngman's picture

Just the Knight guys working on their software...no worries here...

Thu, 08/02/2012 - 11:20 | 2672367 haskelslocal
haskelslocal's picture

What % is $4.4B notional in relation to the total at that moment?

Thu, 08/02/2012 - 11:20 | 2672371 Hype Alert
Hype Alert's picture

Why would anybody want to get out of this market?

Thu, 08/02/2012 - 11:38 | 2672425 Winston of Oceania
Winston of Oceania's picture

Did you by any chance mean "any-BOT-y" want out of this market?

Thu, 08/02/2012 - 11:54 | 2672497 bdc63
bdc63's picture

... can I Facebook friend a BOT? ...

Thu, 08/02/2012 - 11:22 | 2672375 catacl1sm
catacl1sm's picture

LOOK OUT  BELOW!

Thu, 08/02/2012 - 11:55 | 2672500 bdc63
bdc63's picture

cue 3:45pm WSJ leak from the FED ...

Thu, 08/02/2012 - 11:23 | 2672380 dvsteenk
dvsteenk's picture

my Q is who absorbed the $4.4 billion on the other side of the trade(s)?

Thu, 08/02/2012 - 11:29 | 2672402 Jlmadyson
Jlmadyson's picture

Benjamin Bernake

Thu, 08/02/2012 - 11:56 | 2672506 bdc63
bdc63's picture

... that's MR. B.S. Bernake to you ...

Thu, 08/02/2012 - 11:47 | 2672469 Landrew
Landrew's picture

From what I have read on the limited details, the order went to market price instead of limit so smaller trades would have been the catch all at much lower prices? That is the only logical thing I can come up with. Otherwise the Organic People would have had time to stop the bulge in over sized trades with wrong signs?

Thu, 08/02/2012 - 11:23 | 2672381 Ted Baker
Ted Baker's picture

FACT 3:- AND FROM HERE ON FB UP TO $30 A PIECE TOGETHER WITH GOLD AT $1,650 BEFORE WEEKLY CLOSED

Thu, 08/02/2012 - 11:23 | 2672383 ebworthen
ebworthen's picture

O.K., so who didn't realize the promises were hollow, and didn't get the pre-market memo that Draghi had nothing up his sleeve but a promise of a plan for a plan?

Draghi doing his best Princess Leia impersonation:  "Help us Obi Ben Keynesnanke, you're our only hope."

Thu, 08/02/2012 - 11:25 | 2672392 monopoly
monopoly's picture

Surreal!  Nothing more to say. And humans "invest" in this market.

Thu, 08/02/2012 - 11:36 | 2672393 Bastiat009
Bastiat009's picture

No melding into the markets by central bankers is negative for gold which loves central planners it seems.

Either that or the gold = euro trade is back on.

The whole thing is completely fucked up. Let it blow and start over with new smart honest people (bye bye Goldman).

Thu, 08/02/2012 - 11:34 | 2672418 jjsilver
jjsilver's picture

For a moment I thought I was looking at gold making one of it's daily waterfall declines! no manipulation there folks, it's just risk on/risk off flight to saftey in paper, move along now.

Thu, 08/02/2012 - 11:39 | 2672428 Snakeeyes
Snakeeyes's picture

Evil Mario shows US Ts 10 yrs to 1.48%. Bernanke doesn't need to do QE3 or Twist, Evil Mario did it for him!!!!!!!!!!!!!!11

http://confoundedinterest.wordpress.com/2012/08/02/ecb-follows-feds-lead-how-about-no-but-maybe-later/

Thu, 08/02/2012 - 11:43 | 2672429 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

US debt/GDP is 103%, and this has the dollar up because Europe might be worse and everyone is focused on what the bankers are saying.  But this is a logical fallacy:  If A then not B is not sound logic because what if both the euro and the dollar are not viable currencies?  What if no fiat currency is?

People are not focused on such things like fiat currency has no intrinsic value, and it does not store wealth.  It is also constantly losing to inflation due to the increasing supply of currency provided by the Central Banks.

Yet day traders, in their infinate wisdom, hang on every thread that Bernanke and Draghi give them, instead of focusing on facts.

If you knew the mountain by your town was going to errupt, would you stick around selling pots?  No.  You would leave.

So why is anyone still chasing paper?

Thu, 08/02/2012 - 11:40 | 2672433 Duke of Con Dao
Duke of Con Dao's picture

they must have transplanted the wrong brain into it as seen here

in the continuing series: You Didn't Build That! 

Frankenstein, You Didn't Build That Monster! says Prez Obama

http://www.youtube.com/watch?v=9nAhnhJgPPo

Thu, 08/02/2012 - 11:43 | 2672447 orangegeek
orangegeek's picture

Big volume on rapid declines.  Not a sign of strength.

 

http://bullandbearmash.com/chart/dow-jones-industrial-average-daily-augu...

 

Dow should close well below support today.

Thu, 08/02/2012 - 11:56 | 2672508 DeFeralCat
DeFeralCat's picture

What is the next support level if I can ask?

Thu, 08/02/2012 - 12:10 | 2672575 DeFeralCat
DeFeralCat's picture

Found my own answer. It is 1344 on the S&P.

Thu, 08/02/2012 - 11:45 | 2672462 caimen garou
caimen garou's picture

run forest run

Thu, 08/02/2012 - 11:48 | 2672472 Blopper
Blopper's picture

It's the algos in control anyway, so who cares what mario says?

Can you really make a simple buy and sell these days without being intercepted by the algos?

So who's (or what) the one doing the selling?

And later on who's (or what) the one that will do the buying later?

Thu, 08/02/2012 - 11:50 | 2672477 tok1
tok1's picture

It's all the same the big deficits are US 16 trill Japan 12 trill and UK
All require constant central bank buying to survive ( literally occurring
on a daily basis to stop ( Japan deflation ). US ( unemployment ) ie
they will say anything than the truth ( ie that it's to support govt borrowing).

The last think they or the Germans want is for Spain or Italy to receive
central bank support as it will lead to funds flowing away from them ( ie higher rates) so again US divide conquer strategy worked
( US rates down with no QE) poor periferial suffer . Someone had to
Pay for US 1.3 trill deficit ( ie one year of US deficit is larger than
all Spain outstanding debt)..

Thu, 08/02/2012 - 12:14 | 2672588 Beam Me Up Scotty
Beam Me Up Scotty's picture

FB about to go sub $20?

Thu, 08/02/2012 - 12:30 | 2672655 DeFeralCat
DeFeralCat's picture

Who is the woman yelling at me on tv that is not either my wife or my cat? She is blaming computer error on human error. I will have my bot roto dial her for six hours tonight.

Do NOT follow this link or you will be banned from the site!