This page has been archived and commenting is disabled.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 | Link to Comment 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 | Link to Comment 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 - 11:22 | Link to Comment malikai
Thu, 08/02/2012 - 11:51 | Link to Comment 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 | Link to Comment john_connor
john_connor's picture

No one cares when its a low volume melt up. 

Thu, 08/02/2012 - 11:21 | Link to Comment 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 | Link to Comment mktfizx
mktfizx's picture

Anyone know what time the ppt takes lunch?

Thu, 08/02/2012 - 11:42 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment -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 | Link to Comment SheepDog-One
SheepDog-One's picture

Um...who wants free monies? Anyone?

Thu, 08/02/2012 - 11:15 | Link to Comment 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 | Link to Comment alien-IQ
alien-IQ's picture

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

Thu, 08/02/2012 - 11:24 | Link to Comment 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 | Link to Comment 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 | Link to Comment Winston of Oceania
Winston of Oceania's picture

This time he's different?

Thu, 08/02/2012 - 11:31 | Link to Comment 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 | Link to Comment 5880
5880's picture

Another dentist wannabe trader

Thu, 08/02/2012 - 11:42 | Link to Comment NotApplicable
NotApplicable's picture

My dentist is a real estate "investor." LOL

Thu, 08/02/2012 - 11:48 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Bohm Squad
Bohm Squad's picture

...And this too shall pass.

Thu, 08/02/2012 - 13:15 | Link to Comment 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 | Link to Comment buzzsaw99
buzzsaw99's picture

a trading blog log and a link will suffice.

Thu, 08/02/2012 - 11:41 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment IndicaTive
IndicaTive's picture

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

Thu, 08/02/2012 - 12:12 | Link to Comment fuu
fuu's picture

You didn't call shit in gold.

"has gold peaked @ 1630?"

Thu, 08/02/2012 - 11:16 | Link to Comment 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 | Link to Comment 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 | Link to Comment piceridu
Thu, 08/02/2012 - 11:52 | Link to Comment bdc63
bdc63's picture

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

Thu, 08/02/2012 - 11:20 | Link to Comment 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 | Link to Comment Jlmadyson
Jlmadyson's picture

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

Thu, 08/02/2012 - 12:41 | Link to Comment 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 | Link to Comment Dr. Engali
Dr. Engali's picture

Margin calls bitchez!

Thu, 08/02/2012 - 11:19 | Link to Comment 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 | Link to Comment Law97
Law97's picture

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

Thu, 08/02/2012 - 11:19 | Link to Comment 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 | Link to Comment piceridu
piceridu's picture

caspita! E' la verita'.

Thu, 08/02/2012 - 11:19 | Link to Comment youngman
youngman's picture

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

Thu, 08/02/2012 - 11:20 | Link to Comment haskelslocal
haskelslocal's picture

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

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

Why would anybody want to get out of this market?

Thu, 08/02/2012 - 11:38 | Link to Comment 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 | Link to Comment bdc63
bdc63's picture

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

Thu, 08/02/2012 - 11:22 | Link to Comment catacl1sm
catacl1sm's picture

LOOK OUT  BELOW!

Thu, 08/02/2012 - 11:55 | Link to Comment bdc63
bdc63's picture

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

Thu, 08/02/2012 - 11:23 | Link to Comment 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 | Link to Comment Jlmadyson
Jlmadyson's picture

Benjamin Bernake

Thu, 08/02/2012 - 11:56 | Link to Comment bdc63
bdc63's picture

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

Thu, 08/02/2012 - 11:47 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment monopoly
monopoly's picture

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

Thu, 08/02/2012 - 11:36 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment DeFeralCat
DeFeralCat's picture

What is the next support level if I can ask?

Thu, 08/02/2012 - 12:10 | Link to Comment DeFeralCat
DeFeralCat's picture

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

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

run forest run

Thu, 08/02/2012 - 11:48 | Link to Comment 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 | Link to Comment 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 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

FB about to go sub $20?

Thu, 08/02/2012 - 12:30 | Link to Comment 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!