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The Deer Is Back
It seems high-yield credit was on to something as we noted last night (here and here). Today's matrix-like collapse in equity perceptions of decoupling and central bank largesse sets up for more of the same as we suspect the ECB will hold off from acting until post-Greek-election to ensure the M.A.D. 'game' remains in place and with rates where they are, Bernanke will have to come up with some magical wording for his next QE raison d'etre. Today's 2.5% drop in the S&P 500 back below its 200DMA, its largest single-day drop in seven months, and the accompanying flood into safe-havens has left Gold and Treasury Bonds now outperforming Stocks for the year (with the Dow red YTD). S&P 500 e-mini futures volume was it highest of the year as we sit at the edge of the waterfall level from last July/August's plunge. Gold's 4% gain is the biggest day since January 2009. Treasury yields plunged to new all-time record lows with 30Y showing a 2.50% handle and 10Y a 1.43% handle. All the high-beta hope names were crushed with financials down 3.7% - their largest fall in 7 months (with the majors even more). VIX jumped 2.6 vols to close above 26.5% at 7 month highs. What is perhaps most disconcerting is the total lack of bounce into the close now two days-in-a-row - deer, meet headlights.
S&P 500 back under 200DMA, biggest drop in 7 months - close to unch YTD (as the Dow closes red for the year)
Gold's 4% rip is the largest single-day gain in 41 months!
and longer-term things are getting scary...
as YTD, Bonds are the winner now followed by Gold and the USD...
Charts: Bloomberg and Capital Context
Bonus Scary Chart: If the relationship between broad risk-assets (TSY levels and curve shape, FX, commodities, spreads, and PMs) from April persists then a longer-term CONTEXT is implying the S&P 500 should be 100 pts lower...
Deer courtesy of Roman
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Deer meet Donkey Kong!
my personal favorite stock today is SPLUNK, down 16%... + bonus points for perfect alliteration of a turd dropping into the bowl
I fired them as a client a year back. Bunch of demanding pricks.
Equities dropped 6.5% in terms of real money today. All hail the deer!
Note to self: Macallan on the rocks pairs nicely with venison.
Ready for that QE! I want the Fed to monetize some Spiderman towels for beach season. #POMOlist
we have a ways to go before QE, markets down, bonds up, gold up until QE big than the writing will be on the wall that the banks have f ucked it up again and there wont be no bail this time, oh sure take the pensions take the jobs and wake up those holding the bag even students will be in the street world wide
What is the opposite of a Black Swan?
Ben Bernanke
Turkey a la Bernanke.
A white turd?
All this talk about black swans is racist.
A White Crow? Or is that the same thing only in Russian?
Time for mass intervention
Gold up nearly 4% and silver up 2.7%. Normally silver moves twice as much as gold (on a percentage basis). So silver should have moved up about 8%. Where's the additional 5.3% up move in silver?
Looks and feels likes silver manipulation.
Hope the Chinese and Indians take advantage of the low price of silver.
Well well,my collection of shiny garden ornaments outperformed
my spam.
Wonder whats being cooked up behind the facade of 33 Liberty.
oh how i missed the deer!
now, how bout some of those discontented bears; you know, the ones with the snarling lips, flashing eyes and blood-stained teeth?
if we could only get a clip of some ornery bear mauling a helpless and confused deer. where the hell is marty stoffer when you need him most?
"Recovery Summer"
No, wait. That was last summer.
No, wait again, that was 2010.
Stand up! Where are ya?
I finished slightly up today, and feel like the deer anyway. What a mess.
Thank you Ben Bernanke for this wasteland. Thank you J. Dimon, Duncan "I have to take a dump" Niederauer, and L. Blankfein. Thanks to the entirely corrupt financial services industry for destroying our markets with your computer nonsense.
Good grief [and by that I mean...more banker pink slips, please.]
I finished slightly down and I feel like the car. When you take on the rogues' gallery of pricks that you mentioned you have to feel good about just surviving.
Agreed...survival was the key today. I'm net long, but small. But again, the problem is bankers...and the way that they have perverted the market.
I could give you ten tickers right now that should be easy to own right now...for cheapness, yield, or specifica catalysts that SHOULD allow them to work within the greater morass. However, our perverted markets no longer work like that. And so somehow we all have to TRY TO SURVIVE as the computers in the room next to where Duncan Niederauer takes his afternoon constitutional fire away, playing "black or red" with the entire global capital market.
Brilliant! Yeah...we need more protection for the HFT freak shows! HELLO M. SHAPIRO...is anyone home?
Another scary chart: http://stockcharts.com/h-sc/ui?s=VEU&p=D&yr=4&mn=0&dy=0&id=p70706019818&...
In hindsight, Momo-tarders lack of posts the last few weeks was an ominous warning indeed...
The anticipation of having a blowtorch applied to one's testicles will tend to do that.
OH NO S&P close to unchanged for the year? Bernake hit print! Not. There's a whole lot more pain to come, Hope and Change bitchez
Spiderman towel time BITCHEZ!! Print em up!!
What happened to all the 'sellers exhaustion' two days ago?!
They grabbed a Snickers...
+1 golf clap
lol, i read this as i was actually eating one
The deer got facebooked.
Paging Mr. Robo, paging mr. robo...something about a margin call!
I think it's time to show the NANEX charts on the HFT Tractor Beam at the close preventing any price advances. Most visible on DIA.
I laugh my ass off everytime the picture of "the deer" pops up on here...
The look on it's face it priceless...and I suspect perfectly captures the look on Jim Cramer (an many other MOMO stock pumper's) face today.
I literally laughed out loud when I saw the post....
It's been a good 6 months or so since he's made his appearance on here....I was wondering when he would come back
The deer gives me a stiffy.
And no, its not beastiality related. It's just the next step on along the road to where the world is headed, and my nice stash of gold and silver bullion bars and coins accumulated over the past 5 years really gives me the horn!
You are so naughty.
If there are headlights in that deer's eyes (per the photo), then somebody is about to hit a tree (and a deer). Maybe that spindly tree is the spindly backstop provided by central banks. Or maybe the headlights in the woods represent the economic car being off the road. Only thing missing is the excrement evacuating the back side of the deer.
Dammit, I want to buy 10oz @1200. Marc Faber said it was going to 1200!!
Yeah this is great...After Bernanke printed and allowed all the insiders to exit at new recovery highs while trashing the PMs to create an entry point. Is it me or does this all LOOK and SOUND totally manufactured?? Oh yeah i forget treasuries just continually gaining in a nice uptrend for the last 12 months despite an obvious credit risk in USSA...
I noticed no bounce into the close the last two days. Seems shorts are not covering but keeping positions overnight. Is that the point. Confidence of shorts?
I noticed no bounce into the close the last two days. Seems shorts are not covering but keeping positions overnight. Is that the point. Confidence of shorts?
that &/or "real" selling.
My wife hit a deer a few years back with our Explorer. The truck exploded, the deer survived.
True dat. I will never buy another Ford, they suck worse every year.
One good day for the shorts on the heels of 7 bad months. But the 50 day moving average has crossed below the 80 day moving average and maybe (I can't tell for sure) 100 day moving average. So we should be ok until the Bernanke put. Or maybe this is the end.
Socialism on fire ! I don't slow down for deer....just for Socialists immolating themselves ! Monedas 1929 Comedy Jihad Fire Engine Chaser
Not just the Greek elections: there's also the EU summit a few days later on 22 June. The heads of state have to get the message about the urgency of the big bank-rescue plans which the ECB (like the Commission) is now pushing hard.
And if the German government refuses to comply the ECB could keep up the pressure after the summit too. Don't be too very surprised if Merkel starts being fitted up for a Berlusconi/Papandreou-style rush exit.
Just wait, CNBC will report Monday morning that this is simply the markets already pricing in European collapse, war in the Middle East, and permanent structural unemployment in the U.S. - and that NOW IS THE TIME TO BUY EQUITIES.
Simply the markets pricing in Apocalypse and the End of Civilization as we know it.
You had to know that would drop the Dow 200-300 points.
Now back to to the economic recovery.
FSG, FAZ....any other "F" will do...
A Greek bank is like a bottomless shot glass of Uzo.....you empty it and then it's full again ! Go for it ! Monedas 1929 Comedy Jihad Fractional Banking Run
Still too close to call which makes me laugh more; the deer or the bears.
welcome back deer,while it's been longer then I expected since your last appearance, it is good to see you again none the less.
have a great weekend ZH.
So, Goldman told us to buy right? Someone please advise when they advise to sell, so I can get out of any short positions.
Goldman (and all the other banksters) must really be worried about the next election. Mitt wins they get their new man....Obama wins they keep their present man. I really feel for the banksters.
America - wake up. Please!
america is about to get pushed down, no one will be sleeping, the giant will be stirred to action and it will be angry and irrational, no talking is going to surfice, the lie will be lit up
http://www.cnbc.com/id/47639849
"The summer of 2012 is looking like an “eerie” echo of 2008 but euro zone sovereign debt has replaced mortgages as the risky asset class that markets are anxious about, said Robert Zoellick, President of the World Bank."
this is the real kinda crisis, no rug will do, this just might be the trick that that shoves the lying bastards like the democrats and republicans and ron paul takes the reins
Can't bounce into the close and expect QE.
I am never going to ignore the price action in HYG or JNK again
Oh the equity meatheads... still in denial of the credit markets....
"What's HYG?"
Convert useless paper to booze.
" Call me an asshole. One. More. Time " I can't hardly wait to see the looks on the faces of the retirement 401K IRA Roth crowd when they realize their brokers pocketed all the up front fees, and sold them down the river. Coulda shoulda woulda done some tangible commodities investing, but didn't. Got the big 50 percent off the market haircut back in 08, didn't change a fucking thing. Locked right into the sheeple values fantasy praying for the ship to pop upright again. Not gonna happen, retarded boomer believers. A few of us on the other hand, decided big business and big government were out to cornhole anyone and everyone to stay alive, so, we hedged our futures. Head for the shitstorm, grasshoppers, winter's a bitch. We dumb assed ants will be okay for the winter. I'm looking forward to spring. A cleaner, brighter more honest accountable non corrupt future.
Yep, winter's coming.
Au looking good
- 3 tablespoons olive oil
- 2 pounds venison stew meat
- 1/4 cup flour
- Essence, recipe follows
- 2 cups chopped onions
- 1 cup chopped celery
- 1 cup chopped carrots
- 1 tablespoon chopped garlic
- 1 cup chopped tomatoes, peeled and seeded
- 1 tablespoon chopped fresh basil
- 1 tablespoon chopped fresh thyme
- 2 bay leaves
- 1 cup red wine
- 4 cups brown stock
- Salt and black pepper
- Crusty bread
DirectionsIn a large pot, over high heat, add the olive oil. In a mixing bowl, toss the venison with flour and Essence. When the oil is hot, sear the meat for 2 to 3 minutes, stirring occasionally. Add the onions and saute for 2 minutes. Add the celery and carrots. Season with salt and pepper. Saute for 2 minutes. Add the garlic, tomatoes, basil, thyme, and bay leaves to the pan. Season with salt and pepper. Deglaze the pan with the red wine. Add the brown stock. Bring the liquid up to a boil, cover and reduce to a simmer. Simmer the stew for 45 minutes to 1 hour, or until the meat is very tender. If the liquid evaporates too much add a little more stock.
280 million city and suburban residents moving out of the city, eating their way through the food chain like a plague of locusts.
Otherwise I wish I had a bit of a Buck roast.
Tastes like chicken? :-<
A lot of citiots won't eat venison. As a rural dweller in a seasonally touristy area, I hear that alot: "Ewww, I can't eat Bambi!" Or, "I'm not eating some tick-infested, wild gamey-tasting hoofity thing. On the other hand, give me a pack of beer nuts and a Curzz Light."
You know the difference between deer nuts and Beer Nuts?
Beer nuts are a dollar fifty; deer nuts are under a buck...
Nono. These aren't the really scary charts. The really scary chart is the 30 year timescale one.
http://bit.ly/L5orF3
We are winning folks, even though it may not seem like it. Keep up the good work.
mmmmmm
venison..
Yes!!! I made $2 today on my SLV call. I'm in Ukraine so I can buy 150ml of wine at a bar tomorrow in celebration.
dont we pay retards to deal with these problems
I had been holding off, but THU I said what the hell and got more PM, as much as I could carry.
Then, Friday!
I feel better now.
Stocks depend on the economy. The economy is **cked, thanks to central-bank-enabled omnipotent gubmint. Therefore, the broader stock market is **cked.
Thanks to the cheerleading parrots in the gubmint-media complex, "stocks n bonds, stocks n bonds, RRAAAAAAK!", the retail lemmings are frozen like deer in the headlights, patiently awaiting impact.
But yesterday, it looked like few of the smartest, fittest, horniest lemmings just followed their instincts and darted for the safety of gold & silver, causing prices to spike over 100 FeRNs & 100 CentiFeRNs in a day.
Deer In The Headlights …..
Urban Dictionary:
A mental state of high arousal caused by anxiety, fear, panic, surprise and/or confusion, or substance abuse. A person experiencing the "deer in headlights" syndrome often shows behavioral signs reminding those of a deer subjected to a car's headlights, such as widely opened eyes and a transient lack of motor reactions.
Mike doesn't like cars; he's like a deer in headlights when he goes to his driving lessons
Wiki Answer
When deer are in the dark say by the side of the road and a car's headlights shine on them, they are blinded momentarily and are susceptible to being shot. That why this method of deer hunting is against the law.
It is an expression that means that you are too stunned to move. In other words you are terrified. It comes from when you catch a deer in your headlights and they just freeze.
The Word Detective
We do know that “to look like a deer in the headlights” leaped into the public vernacular in a big way with the 1988 Presidential campaign of George H.W. Bush. Bush’s running mate, Senator James Danforth (“Dan”) Quayle, was widely (and arguably unfairly) regarded as unprepared for the job of Vice President. During a debate with Senator Lloyd Bentsen, Quayle defensively compared his level of experience to that of John F. Kennedy when he became President, to which Bentsen famously replied “Senator, I served with Jack Kennedy. I knew Jack Kennedy. Jack Kennedy was a friend of mine. Senator, you’re no Jack Kennedy.”
Using English
When one is caught off guard and needs to make a decision, but can not react quickly enough.
Oxford
Used to refer to a state of fear, panic, or confusion so extreme that it is impossible to act or think normally: faced with too many choices and not enough real information, we are like deer caught in the headlights, his deer-in-the-headlights expression
Wiktionary
Deer in the headlights (uncountable)
(idiomatic) A mental state of high arousal caused by anxiety fear, panic, surprise and/or confusion, or substance abuse. The behavioral signs are like a deer subjected to a car's headlights, such as widely opened eyes and a lack of motor reactions.
The deer is back.
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