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Charting The Historic 5 Day Market Slide

Tyler Durden's picture




 

This is what happens when everyone shifts from the same side of the boat to the other... at the same time.

 

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Mon, 08/08/2011 - 15:50 | 1538774 lolmao500
lolmao500's picture

Now back down 600+! YAY!

Mon, 08/08/2011 - 15:56 | 1538828 Id fight Gandhi
Id fight Gandhi's picture

This is what happens Larry!

Mon, 08/08/2011 - 15:59 | 1538850 Sudden Debt
Sudden Debt's picture

One could say that a trendline is forming....

:)

Mon, 08/08/2011 - 16:08 | 1538931 Takingbets
Takingbets's picture

Complete and udder chaos on the floor of the NYSE today! I believe in the White House too!

Mon, 08/08/2011 - 16:21 | 1539066 Sudden Debt
Sudden Debt's picture

I've heard that to!

Seems like Obama lost one of his favorite Golf Clubs!

The missery...

 

Mon, 08/08/2011 - 16:09 | 1538932 Takingbets
Takingbets's picture

.

Mon, 08/08/2011 - 16:45 | 1539263 mynhair
mynhair's picture

Dam terrorist TEA party did it by throwing teabaggers like Schumer into the vacuum tubes.

Mon, 08/08/2011 - 15:57 | 1538837 trav7777
trav7777's picture

wish i was as bold as I was in 08...sheeit...saw that H&S a mile away but this one confirmed.

1100 points in a few days; this is just a waterfall crash goin on.  As we're not rocketing north, one must assume that the QE3 is not sailing tomorrow.  The rally started a week before they announced last time and any leak like that would have muted this crash.  In fact the leak was probably SP downgrade plus there will be no QE3 tomorrow

Mon, 08/08/2011 - 16:00 | 1538868 Sudden Debt
Sudden Debt's picture

QE3 is already calculated in? :)

That's what they would say back in 2009 :)

Mon, 08/08/2011 - 22:12 | 1540570 goldfish1
goldfish1's picture

Here's a good spot to bring this into the variables:

http://www.astrologycom.com/mercret.html

Mercury Retrograde   Mercury retro in Virgo and Leo  [August 3, 2011 – August 26, 2011]

At 03:50 UT (Universal Time) Wednesday, August 3rd, 2011, Mercury the wise communicator—and universal trickster—turns retrograde at 1°12' Virgo in the sign of the Virgin, sending communications, travel, appointments, mail and the www into a general snarlup! The retro period begins some days before the actual turning point (as Mercury slows) and lasts for three weeks or so, until August 26, 2011... At this time he halts and begins his return to direct motion through the zodiac.

Everything finally straightens out on September 9th, as he passes the point where he first turned retrograde. more at link

Mon, 08/08/2011 - 16:19 | 1539039 Takingbets
Takingbets's picture

I wish I had the cojones to trade in this market but the Big Banks/FED made that impossible for me to do so back in 2009. When you know they have the power to make these markets swing wildly in any direction they want, you take your ball out of the game and walk away. :-)

Mon, 08/08/2011 - 16:26 | 1539119 tom a taxpayer
tom a taxpayer's picture

I lost my balls in the last crash. Now I can't play the game.

Mon, 08/08/2011 - 21:33 | 1540380 jbc77
jbc77's picture

I hear ya. I was swinging a few trades at work for a while but this is a tough game out here right now. I'm satisfied sitting in fiat to transact, buying metals on a monthly basis to store my savings. I fear being priced out of gold fairly soon with nothing left to buy but silver, I'm alright with that.

Mon, 08/08/2011 - 16:10 | 1538948 Clueless Economist
Clueless Economist's picture

S&P down 6.66%

6    6    6

Mon, 08/08/2011 - 16:21 | 1539069 Takingbets
Takingbets's picture

Holly shit I just noticed that! What a cowinkedink.

Mon, 08/08/2011 - 16:23 | 1539080 mr. mirbach
mr. mirbach's picture

perhaps a true sign of the Barackalypse?

Mon, 08/08/2011 - 16:29 | 1539147 Takingbets
Takingbets's picture

What's funny is I see the DOW clocked in at 5.55

Mon, 08/08/2011 - 18:36 | 1539753 Ratscam
Ratscam's picture

remember wasn,t it that number on the SPX to go long, 2 years ago?

Mon, 08/08/2011 - 17:00 | 1539314 tictawk
tictawk's picture

With GOLD up 70 and S&P down 87, the FED is trapped in a sense.  If they QE3, Gold goes up $100?  or more and if they do nothing, Stocks continue downward (trend in motion).  There is lots of momentum because many big players have NOT hedged their long exposure (the market fell too quickly).  And Primary dealers are huge option put sellers so they are getting squeezed.  The average Joe sixpack will get scared with moves like this and look to cash in his equity portfolio but there is one small problem for Equity fund managers, ie. there have just 3% cash. So if redemptions pickup, selling will continue. 

Actually the S&P downgrade gives the Fed cover to do NOTHING.  Maybe the Fed asked SnP to downgrade? 

Bonds are rallying because they realize the above idea and if we see the dollar rise it will confirm this notion.

While everybody is looking at great earnings, the market is really selling off because it sees a liquidity crisis.  If the Yen goes up much more, the Japs will be forced to dump bonds.  If Europe sinks much more, the holders of US debt will dump their most liquid asset.  China and Mideast are two other big players who will also dump.  So who will dump first?   Bonds away?  I don't know but we live in interesting times.

 

Mon, 08/08/2011 - 18:06 | 1539651 trav7777
trav7777's picture

haven't seen declines like this since 08...given that every significant piece of news is leaked at least days in advance, I am coming to the conclusion that there won't be a QE3 anytime soon.

If that is the case, that simply hasn't been baked in.  QE1 was real fuel and QE2 was more fumes.  QE3 would have to be mainline injection to get a fix going here.  So many tasty shorts at 1350 and I actually called that top but didn't act on it. 

These slides have been simply brutal this past few weeks.  I mean 500 backed up by a 600.  There'll be a relief rally at some point and it will rip off faces, like that 1000 they hung back in 08.  However, at every turn up back then it was time to get short balls-deep.  I dunno here, but it seems really like we've hit a trend change in overall psychology.  When you see A/D ratios like this, just fking everything is getting bailed on.  In 08, gold went south hard, but now we see it spike bigger than USTs and even the gold stocks were spared the carnage today.

Mon, 08/08/2011 - 18:33 | 1539740 Spastica Rex
Spastica Rex's picture

+1 Insightful.

Mon, 08/08/2011 - 19:38 | 1539962 tickhound
tickhound's picture

silver hung in too... on a down 600 day no less when everything was rocked.  Gold keeping it afloat / silver adding drag but regardless.... All this qe has brought the '08 effect into some new, unchartered territory.

Mon, 08/08/2011 - 15:51 | 1538775 bigdumbnugly
bigdumbnugly's picture

yep, and when they're all overweight, lazy fat-fatties.

Mon, 08/08/2011 - 15:59 | 1538858 treemagnet
treemagnet's picture

my son calls 'em "ground pounders".

Mon, 08/08/2011 - 15:51 | 1538779 drink or die
drink or die's picture

Where is Rainbowtrader?

 

Inquiring minds want to know.

Mon, 08/08/2011 - 15:54 | 1538812 Transitory Disi...
Transitory Disinflation's picture

I think he is reading up General Jim, or puking up blood or he has jumped out of a window after swinging from chandaliers, whips and spoons, unkle thug.... I could go on.

Mon, 08/08/2011 - 16:50 | 1539293 Bastiat
Bastiat's picture

He's sitting in a Tijuana whorehouse behind a sign that says:  "It only cost $5"

Mon, 08/08/2011 - 16:07 | 1538920 Sophist Economicus
Sophist Economicus's picture

Interviewing potential avatars

Mon, 08/08/2011 - 16:08 | 1538927 fuu
fuu's picture

After defending LA cops on Saturday he has been pretty much gone.

Mon, 08/08/2011 - 15:51 | 1538782 HUGE_Gamma
HUGE_Gamma's picture

quadruple A rating

Mon, 08/08/2011 - 15:51 | 1538788 Ahmeexnal
Ahmeexnal's picture

how long does the head need to be pushed underwater for that sucker to drown?

Mon, 08/08/2011 - 16:01 | 1538876 Sudden Debt
Sudden Debt's picture

10 more minutes...

Mon, 08/08/2011 - 15:52 | 1538790 Chief KnocAHoma
Chief KnocAHoma's picture

Buy tangibles - Gold, silver, water, food and land:

http://sotcksdairyroadfarm.blogspot.com/

Mon, 08/08/2011 - 17:33 | 1539523 Bill Blackstone
Bill Blackstone's picture

Right on, amigo. Gold, guns, grass, and grub.

Mon, 08/08/2011 - 15:52 | 1538795 JuicedGamma
JuicedGamma's picture

Buy, Buy, BYE!

Mon, 08/08/2011 - 15:53 | 1538796 fiddler_on_the_roof
fiddler_on_the_roof's picture

It all feels like a dream, the whole last week.

Never imagined in my wildest dreams that  Gold moving opposite to S&P in such a short time.

Gold jumping $100 in a week, scared a little.

Mon, 08/08/2011 - 16:06 | 1538913 brew
brew's picture

que the pm correction in 4...3...2...

Mon, 08/08/2011 - 16:10 | 1538941 Bay of Pigs
Bay of Pigs's picture

We haven't seen anything yet.

Gold will have $100 daily swings before too long.

 

Mon, 08/08/2011 - 16:21 | 1539072 Smiddywesson
Smiddywesson's picture

Oh, you haven't seen anything yet.  There's lots of fun to come.

Riots

Starvation

Prositution

Family members who used to openly mock you at holidays begging for handouts

Ya know, the usual stuff when a currency is utterly destroyed.

Prices are going to accelerate even more, count on it.

Mon, 08/08/2011 - 16:28 | 1539139 JohnG
JohnG's picture

At least prostitution is an honest profession.

Mon, 08/08/2011 - 16:34 | 1539184 Dr. Porkchop
Dr. Porkchop's picture

The entrepreneur is never dead in America. There's always something to sell.

Mon, 08/08/2011 - 17:30 | 1539512 Mesquite
Mesquite's picture

...prostitution...

MUCH better than Bankster...!!

Mon, 08/08/2011 - 21:41 | 1540409 Smiley
Smiley's picture

Prostitutes have it better than drug dealers:  They can wash their crack and sell it again!

Mon, 08/08/2011 - 15:55 | 1538798 Anonymouse
Anonymouse's picture

I dreamed last night I got on the boat to Heaven

And by some chance brought my printing press along....

http://www.youtube.com/watch?v=o7kzsZreG0o

Mon, 08/08/2011 - 15:53 | 1538799 youngandhealthy
youngandhealthy's picture

Tea Party, R U there? R U happy now? is this what you wanted?

Mr Market has spoken and you R THE Loser

Mon, 08/08/2011 - 15:56 | 1538829 Gert_B_Frobe
Gert_B_Frobe's picture

Wipe your face. You got some on your chin. Did Oblunder let you wear kneepads behind the podium today?

Mon, 08/08/2011 - 16:02 | 1538882 youngandhealthy
youngandhealthy's picture

Not a bit F...er. Im not even at your continent. YOU R the loser but probably to stupid to realize it.

I just feel pitty for the rest of the 80%& of your country men that didn't vote for the idiots.

Mon, 08/08/2011 - 16:11 | 1538950 pods
pods's picture

Ummm, we don't get to vote for our banksters, only their puppets.

pods

Mon, 08/08/2011 - 16:12 | 1538966 CrockettAlmanac.com
CrockettAlmanac.com's picture

I just feel pitty for the rest of the 80%& of your country men that didn't vote for the idiots.

 

If you're going to force everybody into the same safety net then expect dissenting voices. If you don't like the dissent then stop forcing folks into the net. Treading on me is contraindicated.

Mon, 08/08/2011 - 16:24 | 1539106 Smiddywesson
Smiddywesson's picture

Oh yeah, if the so and so party were in office, all would be better.  We could argue about their social agenda while the same banksters steal us blind.

Sorry, been there, done that.  Bankruptcy will fix the system quite nicely.  My gold will keep me fed, and my guess is my rifle will be plenty warm.

Mon, 08/08/2011 - 16:00 | 1538866 Smiley
Smiley's picture

The TEA party didn't create this situation; they are just forcing everyone to deal with it weather they want to or not.

Mon, 08/08/2011 - 16:53 | 1539320 NotApplicable
NotApplicable's picture

Rainy days and Mondays always get me down.

Mon, 08/08/2011 - 16:00 | 1538869 Jeff Lebowski
Jeff Lebowski's picture

Idiot

Mon, 08/08/2011 - 16:00 | 1538873 DosZap
DosZap's picture

youngandhealthy, @ 15:53

If your handle denotes your age/physical status, that explains your stupidity.

When men call evil good, and good evil...........you can kiss your country bye bye.

Someone had to try and put some FISCAL sanity back into the Congress.Too bad it did not work,but it did get their attention.

S & P in order to maintain what semblance of a rep they had, had ZERO choice doing what they did, and should have 2yrs ago.

If you want to deride that, you do not belong here.

Mon, 08/08/2011 - 16:40 | 1539230 SamuelMaverick
SamuelMaverick's picture

+1 . 

Mon, 08/08/2011 - 16:50 | 1539291 Pay Day Today
Pay Day Today's picture

FISCAL SANITY? Pushing back against every action to increase tax revenues from the top 1% in US society and the richest corporates? What kind of FISCAL SANITY was that?

Fiscal sanity for the top 1% and the richest corporates, maybe. And see what they have brought on to themselves now.

Mon, 08/08/2011 - 16:02 | 1538881 fuu
fuu's picture

Your tears are delicious.

Mon, 08/08/2011 - 16:28 | 1539131 Smiddywesson
Smiddywesson's picture

ROFL Fuu, what is good in life?

Answer: 

To crush the banksters,

To see them driven before us,

And to hear the lamentation of those without PMs

 

Mon, 08/08/2011 - 16:02 | 1538883 Anonymouse
Anonymouse's picture

And all was going so well until those jerks made unreasonable demands like cut spending, reduce the deficit, stop playing accounting games, reform entitlements.

Yep, it's all their fault.

</sarc> (since you probably are too clueless to pick up on it).

Tea Party has never wanted chaos.  OTOH if short term pain is needed to prevent utter destruction it would be worth it.  The Tea Party (and conservatives in general) have been warning about this for years.  We've taken the dirty looks, made the career-jeopardizing statements, suffered the ridicule of TPTB.

And you know what?  We were right.

We prepared.  We reduced our debt, increased our savings.  What did you do other than shoot the messengers?

Mon, 08/08/2011 - 16:13 | 1538973 youngandhealthy
youngandhealthy's picture

Haha...just wait and see when the rest of GOP turn their A.. against you....

U R deemed

 

Mon, 08/08/2011 - 16:32 | 1539168 Smiddywesson
Smiddywesson's picture

Dean Wormer says fat and stupid is no way to go through life son.

I say skinny and penniless is pretty bad too Y&H.

I always though voting without knowing what is important is not a moral act, it is akin to drunk driving or drive by shooting near a school yard.

Y&H has got it all figured out, it's the Tea Parties fault.  If they hadn't crashed the party, the world economy would have grown out of this trap. 

Mon, 08/08/2011 - 18:03 | 1539637 Anonymouse
Anonymouse's picture

I M deemed to be what?

Mon, 08/08/2011 - 16:13 | 1538968 pods
pods's picture

Well technically the TEA party folded up like a lawn chair when it came time to vote, so you cannot really blame it on them.

pods

Mon, 08/08/2011 - 16:15 | 1539004 New_Meat
New_Meat's picture

youngandhealthy:
"Tea Party, R U there? R U happy now? is this what you wanted?..."

Dang, no junk button, no greenie/reddie thingies.

OK, you are an idiot and not very entertaining as a wanna-be-troll.

- Ned
{I think that we're having more fun than Sacrilege is.}

Mon, 08/08/2011 - 15:54 | 1538802 Bam_Man
Bam_Man's picture

Looks pretty "orderly" to me.

In fact, it looks like it was drawn using "Birinyi's Ruler" - only upside down.

Mon, 08/08/2011 - 16:01 | 1538875 HelluvaEngineer
HelluvaEngineer's picture

friggin awesome

Mon, 08/08/2011 - 15:54 | 1538809 FoieGras
FoieGras's picture

Excellent. Can't wait until we drop sub ES 1100.

Mon, 08/08/2011 - 16:34 | 1539189 Smiddywesson
Smiddywesson's picture

I won't be happy until the survivors are sporting mohawks and leather chaps with the arse cut out.  Then I am buying at market bottom.

I can afford to wait, I have PMs.

Mon, 08/08/2011 - 15:54 | 1538810 Greater Fool
Greater Fool's picture

Back-to-school sale in the equity markets--everything must go!

Mon, 08/08/2011 - 15:54 | 1538811 JLee2027
JLee2027's picture

Orderly retreats can become routs very quickly

Mon, 08/08/2011 - 15:55 | 1538817 OnTheWaterfront
OnTheWaterfront's picture

Die you fucker die!!!

Mon, 08/08/2011 - 15:55 | 1538819 jaro_g
jaro_g's picture

at least gold is above $1,713 per ounce and +3% today! ... my mining stocks still 20-30% down from their april highs and on balance even today down  ... go gold bugs go, anyway  :-(

Mon, 08/08/2011 - 16:43 | 1539257 SamuelMaverick
SamuelMaverick's picture

PM miners are getting hit pretty hard, but should come back and come back big with the gold and silver prices.  I am betting the farm on it. 

Mon, 08/08/2011 - 16:58 | 1539352 NotApplicable
NotApplicable's picture

My guess is that most all PM miners will be nationalized, or 'windfall taxed' to death in an effort to keep the scam of government going another day, so you might not want to bet the whole farm on that.

Mon, 08/08/2011 - 15:55 | 1538820 fuu
fuu's picture

C'mon sell JPM bitches!

Mon, 08/08/2011 - 15:57 | 1538844 fuu
fuu's picture

BAC: 6.66 -1.51 (-18.54%)

Mon, 08/08/2011 - 16:04 | 1538895 Sudden Debt
Sudden Debt's picture

TARP ME BITCHEZ!!!

OBAMA IS PAYING  THIS ROUND YET AGAIN!!

HAHAHAHAHAHAHAHA!!!!

 

Mon, 08/08/2011 - 16:05 | 1538904 fuu
fuu's picture

JPM:AG .88880

Mon, 08/08/2011 - 16:23 | 1539091 Sudden Debt
Sudden Debt's picture

THAT'S BELOW STERLING 925 GRADE!!!!

 

Mon, 08/08/2011 - 15:55 | 1538821 Spitzer
Spitzer's picture

Dick Bove throws in the financial towel, has no banks to recommend. Stays in cash

Financial s bottoming ?

Mon, 08/08/2011 - 16:08 | 1538921 WonderDawg
WonderDawg's picture

Oh, I'd say they have a little ways yet to go. (one eyebrow raised in a "Do you get my understatement?" way)

Mon, 08/08/2011 - 15:56 | 1538823 irishlink
irishlink's picture

where is Asia going to go tonight? I hope China has a plunge protection team.

Mon, 08/08/2011 - 16:02 | 1538887 Caviar Emptor
Caviar Emptor's picture

Almost dove off the cliff last night before PPT intervened: Kospi was off near 7% at lows

Mon, 08/08/2011 - 15:56 | 1538832 Josh Randall
Josh Randall's picture

Sweet mother of blessed acceleration

Mon, 08/08/2011 - 15:57 | 1538839 baby_BLYTHE
baby_BLYTHE's picture

Time to start pouring the drinks. Happy Hour has begun. Jack Daniels wants to join the fun

Mon, 08/08/2011 - 16:55 | 1539330 New_Meat
Mon, 08/08/2011 - 15:58 | 1538845 Bam_Man
Bam_Man's picture

THREE stock market crashes in eleven years.

"Price stability," bitchezzzz!

Mon, 08/08/2011 - 16:09 | 1538935 schadenfreude
schadenfreude's picture

Good,that we got rid of that stupid Glass-Seagall Act.....Free Markets FTW!

Mon, 08/08/2011 - 16:19 | 1539051 CrockettAlmanac.com
CrockettAlmanac.com's picture

Glass-Steagall was not simply rescinded but was replaced with even more extensive legislation which gave more power to those in the highest financial and political circles.

True deregulation is what is needed.

Mon, 08/08/2011 - 16:47 | 1539275 Pay Day Today
Pay Day Today's picture

When the ass falls out of all the administrative and governmental systems in the US you will have your "true deregulation".

Personally, I don't think it's going to work as well as you think it might.

Mon, 08/08/2011 - 17:13 | 1539434 CrockettAlmanac.com
CrockettAlmanac.com's picture

I think that I want to make my own decisions about my own life. If you want to be subjected to the arbitrary whims of governmental masters, please feel free (well, not so much).

Mon, 08/08/2011 - 16:37 | 1539205 Smiddywesson
Smiddywesson's picture

Price stability is over rated

- Alan "Maestro" Greenspan

Mon, 08/08/2011 - 15:59 | 1538857 silvertrain
silvertrain's picture

bang the close bitchez...

Mon, 08/08/2011 - 15:59 | 1538859 Doyle Hargraves
Doyle Hargraves's picture

Methinks it may be a historic 7/10/14 day slide before it is over...

Mon, 08/08/2011 - 15:59 | 1538861 Greater Fool
Greater Fool's picture

Tanking into that close. Beautiful.

Mon, 08/08/2011 - 15:59 | 1538862 lolmao500
lolmao500's picture

Chairsatan will be drinking at the bar tonight.

http://o.onionstatic.com/images/articles/article/21/21059/Drunken_Ben-R_...

And in other news, congress people are going back to their districts... in Israel.

http://www.cbsnews.com/8301-503544_162-20089313-503544.html

Report: 81 congressmen going to Israel on break

Perhaps seeking a salty dip in the Dead Sea to end a stressful debt debate, nearly one in five members of the House in Representatives will use their summer recess period to visit Israel, The Jerusalem Post reports.

Of the 81 heading over, 55 are Republicans and 26 are Democrats, The Post reports. Half of the freshmen Republican reps - 47 of them - make up that group, and many of them will be visiting Israel for the first time.

Mon, 08/08/2011 - 16:11 | 1538951 machineh
machineh's picture

... handing Israel its undeserved 1.5% of GDP subsidy from the US, when Israeli unemployment is several percentage points lower than ours.

Nauseated yet?

Mon, 08/08/2011 - 16:51 | 1539306 Pay Day Today
Pay Day Today's picture

Hundreds of thousands on Tel Aviv streets protesting against economic conditions.

Where are the marches on D.C.?

Mon, 08/08/2011 - 17:44 | 1539568 phyuckyiu
phyuckyiu's picture

They are behind schedule on the indoctrination classes. The newbs must be taught who their real boss is.

Mon, 08/08/2011 - 16:00 | 1538867 Gert_B_Frobe
Gert_B_Frobe's picture

Well, at least 4:00 has come .... too bad there is 9:30 tomorrow morning.

Mon, 08/08/2011 - 16:10 | 1538939 WonderDawg
WonderDawg's picture

Not too bad for those of us who saw how this was setting up back in 2008-2009 when they didn't fix the problem. Ride it up, ride it down.

Mon, 08/08/2011 - 16:39 | 1539220 Smiddywesson
Smiddywesson's picture

Not for me.  After today's gold prices, I am celebrating.  9:30 will just have to wait for 10:30

Mon, 08/08/2011 - 16:00 | 1538870 monopoly
monopoly's picture

And we are flat to slightly green on most miners.  No complaints here.

I think I will send Tyler my old DOW 10,000 hat. It is going to be a worth a bunch here soon.

Mon, 08/08/2011 - 16:01 | 1538878 Caviar Emptor
Caviar Emptor's picture

Russell 2K officially in bear market territory

Mon, 08/08/2011 - 16:03 | 1538889 Caveman93
Caveman93's picture

When I was laid off back in April, FAZ position was -50%, today..I made 7%. Thank you Barry and co.!

Mon, 08/08/2011 - 16:03 | 1538890 Segestan
Segestan's picture

Someone, anyone ... STOP... Waddell and Reed.... NOW!!!

Mon, 08/08/2011 - 16:06 | 1538914 Anonymouse
Anonymouse's picture

+ -888

Sorry, it would have been positive vote, but my kudos flash crashed before I could hit enter.

Well played

Mon, 08/08/2011 - 16:04 | 1538899 Jean
Jean's picture

Make that cocktail a double tonight ...

Mon, 08/08/2011 - 16:05 | 1538906 Diablo
Diablo's picture

a big THANK YOU to TD and ZH. sold all my equities in mid-may. 

 

Mon, 08/08/2011 - 20:08 | 1540052 ToddGak
ToddGak's picture

Well played...I got out last year when the Dow was around 10,600.  Now at least I feel like I haven't missed any upside.

Mon, 08/08/2011 - 16:05 | 1538907 gaasp
gaasp's picture

This is what we get when the Secretary of the Treasury can't even do his own taxes.

Mon, 08/08/2011 - 16:05 | 1538908 Re-Discovery
Re-Discovery's picture

What a day.  UGL AGQ (and ZSL) were friendly.  Need to pull the parachute on winnings and get moe physical

Mon, 08/08/2011 - 16:05 | 1538909 Caviar Emptor
Caviar Emptor's picture

Nasdaq about 40 points away from bear market

Mon, 08/08/2011 - 16:06 | 1538911 Caveman93
Caveman93's picture

Someone pease remind the Wall Streeters that when they jump to make sure to make it off of the 4th floor or higher to be sure they do it right ;)

Mon, 08/08/2011 - 16:07 | 1538917 Downtoolong
Downtoolong's picture

Sold some Treasuries today. Don't know which lemming bought them. Now I'm trying to decide what to buy with the cash. I may just sit on it until something intesting (like a barrel of oil) shows up on eBay's half.com.

Mon, 08/08/2011 - 16:06 | 1538918 Ryman1075
Ryman1075's picture

S&P @ 4:07 = down 6.66%.....*I'm just sayin'*

Looks pure evil to me.

Mon, 08/08/2011 - 16:08 | 1538923 Doyle Hargraves
Doyle Hargraves's picture

S&P closes at -6.66%, que TARP 2, QE3, and you are right pure evil, remember last time S&P had 666 associated with it...

Mon, 08/08/2011 - 16:09 | 1538936 Dr. Engali
Dr. Engali's picture

Well there goes qe2 now to wipe out qe lite.

Mon, 08/08/2011 - 16:10 | 1538937 chump666
chump666's picture

this is now a tech broken market, supports have been smashed.  a total fear trade.  even the ECB print job 12hrs ago did nothing, the market is factoring in that money print jobs will not solve the debt/insolvancy crisis.

Mon, 08/08/2011 - 16:10 | 1538940 irishlink
irishlink's picture

It was rather fitting that Zimmer was ringing the closing bell tonight. They can give all the traders who are on their knees a frame on the way out!

Mon, 08/08/2011 - 16:12 | 1538957 Archimedes
Archimedes's picture

Just think of the faux wealth that was just destroyed! And think of how much worse the US financial position is going to get knowing they blew 4 Trillion to pump the market and in a flash it is gone.

The Feds balance sheet is loaded with garbage and the housing collapse should now accelarate as people just start walking away in droves.

 

Mon, 08/08/2011 - 16:12 | 1538963 Eagle Keeper
Eagle Keeper's picture

Cool! Dow down today = -6.66 percent!  (6.66)

Mon, 08/08/2011 - 16:13 | 1538965 irishlink
irishlink's picture

We have now given back all the upside of QE2. Whats the point of more stimilus. It cannot even keep this Ponsi market elevated

Mon, 08/08/2011 - 16:43 | 1539252 Smiddywesson
Smiddywesson's picture

The point was to stall so the banks could make a profit on inside information and manipulated markets, as well as stack gold for the end of the game.  All in all, it has worked really well, for them.

Mon, 08/08/2011 - 16:13 | 1538976 Uncle Remus
Uncle Remus's picture

This is what happens when everyone shifts from the same side of the boat to the other... at the same time.

 

Guffaw.

Mon, 08/08/2011 - 16:15 | 1538991 irishlink
irishlink's picture

It's the S&P500 that is down 6.66 Dow down 5.55

Mon, 08/08/2011 - 16:15 | 1539003 JW n FL
JW n FL's picture

25% slide will get you QE-3!

That is a small price to pay for FREE MONEY!!

Thank God for the Money Hole!! http://www.youtube.com/watch?v=JnX-D4kkPOQ

Mon, 08/08/2011 - 16:21 | 1539065 treadfreepress
treadfreepress's picture

The only quadruple The Orifice is going to get is digits, not A's.  Suck it Warren.

Mon, 08/08/2011 - 16:25 | 1539070 Tree of Liberty
Tree of Liberty's picture

I am replying to Clueless Economist's post earlier on :

Who Stated

S&P down 6.66%

6    6    6

=======

GoThese Luciferians always love sending messages thru numbers as they think they are in control (even if for a short season).  Required reading for them should be Revelations 19:20 and perhaps some of them might repent.  Many will not and curse God in heaven instead, Not A Good Idea!

Buckle Up and put those chinstraps on this time

Mon, 08/08/2011 - 16:22 | 1539085 Double down
Double down's picture

Where is Jhonny Bravo?

Mon, 08/08/2011 - 16:23 | 1539094 falak pema
falak pema's picture

what are the odds Dow hits 9000? or will QE-3 save the slide?

Mon, 08/08/2011 - 16:26 | 1539120 AcidRastaHead
AcidRastaHead's picture

The SS Recovery is on quite a tilt.

Mon, 08/08/2011 - 16:29 | 1539149 GiantWang
GiantWang's picture

Expect some huge upswings here too.  One thing is a pretty good bet--companies can generate earnings regardless of what fiat those earnings are in.  S&P to zero?  Hell no.  It will grind and moan and fight before going down, i.e. at some point people will think risk of systemic failure is manageable enough to buy again.

But I want this fucking fiat to die.

I asked the girl at the lunch counter today if they were still accepting dollars for payment.  She just gave me a puzzled look when I said "Sucker."

Mon, 08/08/2011 - 16:35 | 1539195 LoneStarHog
LoneStarHog's picture

Paging Mr. Barton Biggs ... Mr. Tyler Durden on Line One ... Mr. Barton Biggs ...

Mon, 08/08/2011 - 16:38 | 1539211 sethco
sethco's picture

all these fairly impressive drops as of late don't begin to make up for the dozens of unaccountable +100 and +200 point DOW surges we've seen over the past couple years, not to mention the several fortnight-long 'win streaks'. A year ago the S+P was bouncing violently and repeatedly off of 1040, like a cat on a hot tin roof. The experience of the past 2 years tells me they could do it again. And eff the debt crisis, sovereign debt, earthquakes, volcanoes, tsunamis, war, famine, etc. etc. etc.

Mon, 08/08/2011 - 17:29 | 1539504 Highrev
Highrev's picture

This is what happens when everyone shifts from the same side of the boat to the other... at the same time.

Now there you go!

I like the way you say volatility.

 

Time to move back to the other side? (I guess so if you're unwinding the unwind - but maybe not for the same reasons.)

 

Always remember, you're only as good as your last trade. ;-)

Mon, 08/08/2011 - 23:27 | 1540977 Grand Supercycle
Grand Supercycle's picture

THE S&P 500 MONTHLY CHART THAT FORECAST THE CRASH.

Further downside expected.

http://bit.ly/x618

Tue, 08/09/2011 - 08:04 | 1541884 uOptOut
uOptOut's picture

5 days of decline during the time that the administration is "secretly" negotiating with S&P about the downgrade? Gee, guess nothing got leaked by Timmy G to his friends in Ball Street. You can be sure all the cronies were short.

Tue, 08/09/2011 - 08:05 | 1541885 uOptOut
uOptOut's picture

Dupe

Wed, 09/14/2011 - 05:11 | 1667526 chinawholesaler
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