ES Takes Out Lows On Heavy Volume

Tyler Durden's picture

So much for that advice from Comcast's financial comedy and wealth destruction channel earlier today that buyers are stepping in...

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HelluvaEngineer's picture

Perhaps they mean people are buying SDS?

Ahwooga's picture

And popping them like tic tacs. Long psychologists and pavement cleaners.

MillionDollarBonus_'s picture

I don't care about the returns. I believe it is my duty as an American to buy the S&P. I trust that the courage of our congress will pull us through these hard times and I will be rewarded for my perseverance and for having faith in the values that built this country.

Midwest Prepper's picture

And we shall all ride red white and blue unicorns together!

machineh's picture

Let's all hold hands and buy some more Latin junk bonds!

We're doin' GREAT!!

John McCloy's picture

Yeah but we are "Off the lows" so please proceed to your nearest Apple store and buy something.

Josh Randall's picture

Can already hear the spin of "the opening could have been worse" starting to creep in, as in this will shake out weak hands only and true big fish are buyers

JSD's picture

Buyers are stepping in; there just happens to be more sellers ;)

fuu's picture

Buyers are stepping the punch.

TruthInSunshine's picture

Bernankincide needs a massive drop and panic in the streets in order to justify QE tomorrow, which will this time include paying for the first car, university tuition (no matter the cost or school), and a bag of expensive iSwag for children of anyone who works for banks or on Wall Street.

Bernankincide will claim that having the Federal Reserve pay for such things with taxpayer money is a great investment in the future of Main Street.


ElvisDog's picture

QE3 will work for a couple of days, but then it will accelerate the decline. To repeat what I wrote yesterday, it's like trying to put out a forest fire by pissing on it. There is no way he can bring enough bond buying to bear fast enough to feed the monster of asset price and debt deflation that is starting to gather speed.

Mae Kadoodie's picture

Closing time, time for you to go out to the places you will be from.

I Got Worms's picture

So finish up your whiskey or beer...

jus_lite_reading's picture

CDS buyers bitches!!

The EU is falling apart at the seams and the ECB cant hide it!!!

Seasmoke's picture

just wait until the last hour of trading , thats going to be ugly

Caveman93's picture

No breaks after 2:30 correct?

Forgiven's picture

People are buying things tht matter.....AK-47s, AR-15s, M1911s, food, grain, batteries, gold, silver...

Doyle Hargraves's picture

Garands, Mini 14/Mini30, AMMO!

HellFish's picture


Can brutha get a Tommy Gun!

I Got Worms's picture

I bought a Mossberg Persuader on Saturday. For quail and dove, of course.

Iriestx's picture

Time for Barry to take that $2.8t he just stole from the tax payers and buy some Apple and Netflix.

ElvisDog's picture

Time for another press conference where he will be 20 minutes late and use the words "folks", "firefighters", and "green energy" a lot while telling us how great America is.

SheepDog-One's picture

Maybe the Clownhorn CNBS meant theres heavy buying of weapons and ammo?

papaswamp's picture

Everyone is going liquid. Dumping paper gold and silver. Watch for panic buying of physical if this continues.

-Michelle-'s picture

There's no such thing as panic buying of physical. Any buying of physical is right and proper.

Everybodys All American's picture

Que up Cramer on the phone ... "I'm not seeing panic selling"

phaesed's picture

look at the buy that just went through IEF.

SheepDog-One's picture

But I could then say 'Look at the sell that just went thru IEF'

phaesed's picture

Check your option premiums. But anyways, I should also mention people thought I was crazy a year and a half ago when I was screaming buy 5 year treasuries :P

d00daa's picture

just so i understand, you're buying es here?  or you're just telling everyone else to?  or both?

Translational Lift's picture

Barton Bbbbbiggs......."I don't know what's going on.........I'm getting out of the way"

etrader's picture

I thought Cramer said that buyers were coming in ???

Next stop 1101 (38.2) on the SPX

SheepDog-One's picture

Maybe Cramer meant Wall St buyers of whores and cocaine were coming in.

Ms. Erable's picture

Today? Most likely. Tomorrow? Maybe. Wednesday? Fuggedaboudit.

baby_BLYTHE's picture

Gold only up $124 since Bernanke told Ron Paul "Gold is not Money". DJIA has also imploded nearly 2k since then.

roymunnson's picture

I have never felt so crappy about being right

snowball777's picture

This market got Munsoned. ;)

mayhem_korner's picture

Sphinx riddle of the day: What kind of intervention can the complex do that won't make things worse?

slaughterer's picture

Pivot PointsTime: 08.08.11 14:28 GMT

Name S3 S2 S1 Pivot Points R1 R2 R3 Classic 1147.19 1154.82 1162.49 1170.12 1177.79 1185.42 1193.09 Fibonacci 1154.82 1160.66 1164.28 1170.12 1175.96 1179.58 1185.42 Camarilla 1165.94 1167.35 1168.75 1170.12 1171.55 1172.96 1174.36 Woodie's 1147.21 1154.83 1162.51 1170.13 1177.81 1185.43 1193.11 DeMark's - - 1166.3 1172.03 1181.6 - - Moving AveragesTime: 08.08.11 14:28 GMT
Name MA5 MA10 MA20 MA50 MA100 MA200 Simple 1166.51
Sell 1169.79
Sell 1174.895
Sell 1191.72
Sell 1223.315
Sell 1260.3995
Sell Exponential 1165.627
Sell 1168.9985
Sell 1174.3742
Sell 1192.6042
Sell 1217.6128
Sell 1247.4122
Sell repeat-x;">
Buy: 0 Sell: 12 Moving Averages Summary: STRONG SELL

Technical IndicatorsTime: 08.08.11 14:28 GMT
Name Value Action RSI(14) 37.627 Sell STOCH(9,6) 38.189 Sell STOCHRSI(14) 1.146 Oversold MACD(12,26) -7.9312 Sell ADX(14) 32.129 Sell Williams %R -93.557 Oversold Name Value Action CCI(14) -190.3324 Sell ATR(14) 10.1857 Less Volatility Highs/Lows(14) -10.7571 Sell Ultimate Oscillator 36.618 Sell ROC -1.793 Sell Bull/Bear Power(13) -15.7086 Sell repeat-x;">
Buy: 0 Sell: 9 Neutral: 2 Indicators Summary: STRONG SELL
d00daa's picture

what the fuck happened to "RISK ON" you pedantic cunt???  more slaughterer longs getting slaughtered.  buy that fucking dip asscheese.

fuu's picture

You do have a wicked right cross.

snowball777's picture

Yes, tomorrow should be interesting, in the Chinese proverb sense of the word,...but will that change anything in nominal terms?

Benny and the Inkjet's only saving grace is that crude got monkeyhammered to run some interference for their inflatable-doll economy, but maybe that'll just make the trip to Eccles more affordable for the angry mob.

Is he gonna buy every muni bond in the US?

How about every sovereign in the Ewwww (because the Reich can't / won't)?

C'mon Slaughty...tell us a bedtime story.