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Gone In 180 Minutes - NASDAQ Falls Back To Reality

Tyler Durden's picture


As we noted last night, the 100bps of outperformance garnered by the NASDAQ (thanks to AAPL's exuberance) in the last 3 days was remarkable. Equally remarkable - the total compression of that 100bps of relative outperformance to zero in the last three-hours...


Chart: Bloomberg


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Tue, 08/21/2012 - 13:23 | 2724370 reader2010
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Tue, 08/21/2012 - 13:23 | 2724374 whstlblwr
whstlblwr's picture

Fuck you Wall Street slime. Many here don't agree with me on value of FB, but this naked shorting shit is criminal.

"So to Mr. Zuckerburg-and to all your young co-workers, and to all the investors who believe in Facebook-a grand welcome to the very tawdry world of Wall Street. You can continue to stand by and watch this happen over and over again, or you can play a major, even decisive role in stopping this singularly brazen heist.

Mr. Zuckerburg, it is your call.

One more lick: Is it any wonder that the investment public is abandoning the stock market?"

Tue, 08/21/2012 - 13:30 | 2724415 SheepDog-One
SheepDog-One's picture

Dont forget about the entire state of California which had FB mania baked in to save them.

Tue, 08/21/2012 - 13:37 | 2724450 Manthong
Manthong's picture

It still amazes me than any government entity other than a proximate, small township could even consider including a new, unproven corporation of any kind as notable in revenue expectations.

That alone should dispel any notion that government today is sound.

Tue, 08/21/2012 - 14:00 | 2724553 0z
0z's picture

Who is the lucky guy who sold at 1425?

Ahh, maybe it was just an algo. Or maybe it was a zerohedge reader.

Tue, 08/21/2012 - 15:13 | 2724906 slaughterer
slaughterer's picture

It was ME, but I was stopped out at 1420.  

Tue, 08/21/2012 - 14:01 | 2724558 NotApplicable
NotApplicable's picture

I believe that's the theory of the Bigger Lie.

Besides, there's no tellin' what Gov. Moonbeam is willing to consider.

Tue, 08/21/2012 - 15:17 | 2724910 Doubleguns
Doubleguns's picture

Its Gov Brown from California. Need any more clairification.

Tue, 08/21/2012 - 20:27 | 2725814 A Nanny Moose
A Nanny Moose's picture's that the people ot CA were stupid enough to install Moonbeam 2.0.

We asked for it.

Tue, 08/21/2012 - 13:58 | 2724547 monad
monad's picture

You believe that? Find Hasting's treasure and we'll talk about Moonbeams & owls...

Tue, 08/21/2012 - 13:31 | 2724421 Itch
Itch's picture

Its advertising space right? With 89 million fake accounts? and 4 million accounts belonging to animals and pets? Sounds like a bargain to $1. 

Tue, 08/21/2012 - 13:35 | 2724441 whstlblwr
whstlblwr's picture

Everyone I know is on facebook all day. Their eyes are on FB more than TV, so if advertising is so shitty all TV ad revenue is overpriced fuck head.

Tue, 08/21/2012 - 13:40 | 2724465 Itch
Itch's picture

A dollar you buffoon, a dollar.

Tue, 08/21/2012 - 13:52 | 2724519 whstlblwr
whstlblwr's picture

corporate america HATES fb, we share how to use baking soda and vinegar to clean, and stop using shitty products.

Tue, 08/21/2012 - 14:05 | 2724576 Eddy Vluggen
Eddy Vluggen's picture

Sharing is done over all platforms, you don't need FB to share "recipes". Corporate America loves FB, as it generates income.

There's a manual out there that shows you how to start your own friggin' civilization for less than $10k. No, you don't find that can of valueable free information on FB. It's too damn full o' recipes.

Tue, 08/21/2012 - 14:58 | 2724835 azzhatter
azzhatter's picture

you can find that bullshit on google or better yet ask your grandmother

Tue, 08/21/2012 - 20:29 | 2725822 A Nanny Moose
A Nanny Moose's picture

Baking soda and vinegar to clean up? Not together I hope. That's a 4th grade science project. Anything but clean.

Tue, 08/21/2012 - 13:50 | 2724515 fuu
fuu's picture

Get new friends.

Tue, 08/21/2012 - 13:52 | 2724523 BeetleBailey
BeetleBailey's picture

Stop moaning about a fucking stock. You broke multiple rules of buying stock anyhow - you sound like a whining fucking rookie douchebag.

The people you know are on FartBukakke all day long huh? Sounds like your circle of influence is all unemployed/living on the dole, and are douchebags - but hey - people of the same ilk hang together.

Yeah...that's revenue for ya.

Rule Numero Uno - douche; DON'T GET EMOTIONAL/MARRIED/FALL IN LOVE with any stock.

Fucking duh....

Go back to FuckBook and cry....

Tue, 08/21/2012 - 13:58 | 2724544 whstlblwr
whstlblwr's picture

I guess you support naked shorting. Why do you assume I'm in love with stock, it's what you do hanging out here all day, I bet you're supper profitable. LOL.

Tue, 08/21/2012 - 14:13 | 2724617 malikai
malikai's picture

Who'se doing the naked shorting? Or is this just your butthurt speculation?

Tue, 08/21/2012 - 14:44 | 2724769 whstlblwr
whstlblwr's picture

Read the article lazy ass.

Tue, 08/21/2012 - 17:08 | 2725317 malikai
malikai's picture

I did read the article. And just like your useless comments, it's all conjecture and no EVIDENCE.

Show me the FTDs.

Tue, 08/21/2012 - 14:35 | 2724720 obejoyful
obejoyful's picture

You need to know some better people.  Most people have real things in life to do, if you are on FB all day you probably do not have any real friends and need to get a job.


The stock is worth $4 max.

Tue, 08/21/2012 - 14:42 | 2724758 whstlblwr
whstlblwr's picture

Do you even know how it works? You leave it in background just like regular email. Communicate with workers, friends, family just like email, but through facebook. Really those here that trash it it's because you're corporate asshole who are threatened, or an idiot who doesn't know what it is.

Tue, 08/21/2012 - 15:54 | 2725033 Metalredneck
Metalredneck's picture

I know what it is, I know what it does.  I have an account, because the less intelligent of my friends (drummers) love it.  I also understand how they scam their advertising clients and treat every user as a commodity, not to mention the integration of facial recognition software to sell our information.


Look around the table.  If you don't see a sucker, you're it.

Fri, 08/31/2012 - 08:09 | 2751944 BeetleBailey
BeetleBailey's picture

yeah genius...we know how it works.....WITH NO DAMNED REVENUE.

Read you own lame post. Not ONE mention of revenue....none. Email is FREE idiot.

Get a clue. Ask for one on your precious FartFuck page.

Lastly, we all KNOW how fucking UN-profitable YOU are....keep buying that shit-stock - dummy.

Tue, 08/21/2012 - 14:43 | 2724764 bagehot99
bagehot99's picture

If everyone you know is on Facebook all day, the chances are they are using Facebook Mobile, which doesn't carry advertising.

Most of the people using Facebook are either children, who don't have money to buy stuff, or teenagers who use Facebook to post duck-face selfies, or adults who wish they were still teenagers. None of these demographics is good for advertising. If you think they can grow revenues in that climate, to the extent that justifies a stock price higher than about 3 bucks, you're seeing something I am not.

Tue, 08/21/2012 - 14:53 | 2724813 whstlblwr
whstlblwr's picture

Middle aged sitting at computer all day with facebook running in background. Use it to set up meetings, friend time and family. So it's not children.

Can't have it both ways. Last week you guys were laughing that kids were jumping off FB and now it's not cool because parents were taking over. Which is it?

Tue, 08/21/2012 - 15:01 | 2724852 azzhatter
azzhatter's picture

Please continue sharing all your useless private information on FacialBook. I'll continue using my nonsmart phone

Tue, 08/21/2012 - 15:56 | 2725041 Metalredneck
Metalredneck's picture

Running in the background, benevolently working for you, or mining data & keystrokes while you mindlessly troll?

Tue, 08/21/2012 - 18:03 | 2725473 Incubus
Incubus's picture

Most of the people using Facebook are either children, who don't have money to buy stuff, or teenagers who use Facebook to post duck-face selfies, or adults who wish they were still teenagers.

Yes, too much real life.


image related

Tue, 08/21/2012 - 13:34 | 2724429 Dr. Engali
Dr. Engali's picture

Stop blaming the fact that a shitty company is being run into the ground by naked shorting. A strong fundamentally sound company can withstand anything the shorts throw at them. The bottom line is facebook is an over valued piece of crap that has seen all of it's growth before it came public. Coming public was a great opportunity for insidrs to hit it big and suckers to pay the price. When this company finally reaches single digits it might be....might be worth a look. Not before then.

Tue, 08/21/2012 - 13:38 | 2724451 whstlblwr
whstlblwr's picture

Bullshit. It's a raid.

Tue, 08/21/2012 - 13:48 | 2724476 Dr. Engali
Dr. Engali's picture

99.5 % of the people here knew this company was a piece of shit when it came public. It was a 54 billion dollar company with 1 billion in revenues, in other word an over valued piece of dog dung. The very fact that insiders are selling out tells the whole story. I'm sorry you are stuck in an underwater long position...I trully am. One word of advice never fall in love with a's just a piece of paper...sell wll get cheaper.

Tue, 08/21/2012 - 13:49 | 2724506 whstlblwr
whstlblwr's picture

One word of advice: don't take advice from anonymous assholes on blogs.

Tue, 08/21/2012 - 13:53 | 2724522 Dr. Engali
Dr. Engali's picture

Sorry I tried to be nice about it. Good luck, I'm sure you have loads of friends with that demeanor.

Tue, 08/21/2012 - 13:55 | 2724535 whstlblwr
whstlblwr's picture

You changed your wording before my reply posted. Still naked shorting is criminal, whatever your opinion of the stock.

Tue, 08/21/2012 - 16:13 | 2725117 Thought criminal
Thought criminal's picture

Malevolent criminal I...

Tue, 08/21/2012 - 13:59 | 2724551 BeetleBailey
BeetleBailey's picture

Hey Cunt! Fuck right off.

Dr. was being nice and professional and there you go acting like the twat you are.

Read your post douchebag; the rhetorical question then to your sorry ass it;

"Then why the fuck are you even on here?"

To post your bitch about your shitty buy?

To rant against the machine that KNOWS what FartFuckBook is really valued at?

I end with these two tidbits.

Stop drinking out of the toilet.

Fuck the fuck.....OFF!

Tue, 08/21/2012 - 15:03 | 2724857 azzhatter
azzhatter's picture

advice you should follow yourself

Fri, 08/31/2012 - 08:03 | 2751938 BeetleBailey
BeetleBailey's picture

Apropriate name. Heed my above post.....ass hat.

Tue, 08/21/2012 - 14:21 | 2724633 hedgehog9999
hedgehog9999's picture

The damned thing was over priced from the get go as is apple and everything else that has been propped up by scotch tape and tooth picks in the last month or so............

Gravity is reasserting itself.....again............Faceplant should be in the single digits anyway....

Tue, 08/21/2012 - 13:43 | 2724457 PD Quig
PD Quig's picture

Back to reality???

A 12% retracement of the move off the 7/24 low (the last low of any note on the NQ)??

Talk to me about marginal reality when it returns to 2625 minimum.

Tue, 08/21/2012 - 14:07 | 2724588 spastic_colon
spastic_colon's picture

interesting sector rotation, techs down, banks up.....on trading revenue expectations from shorting

Tue, 08/21/2012 - 13:23 | 2724372 kornholio
kornholio's picture


Tue, 08/21/2012 - 13:23 | 2724373 malikai
malikai's picture

I love these compression plays. Gold and silver last night/today was also very nice.

Tue, 08/21/2012 - 14:15 | 2724375 Dr. Engali
Dr. Engali's picture

When the Nasdaq falls to 1,500 then it will have fallen to reality. Not before then.

Tue, 08/21/2012 - 13:25 | 2724384 falak pema
falak pema's picture

the guy who shorted apple this morning is having a good day!

Tue, 08/21/2012 - 13:27 | 2724391 Dr. Engali
Dr. Engali's picture

The person who bought at $674.88 isn't.

Tue, 08/21/2012 - 13:29 | 2724410 falak pema
falak pema's picture

that would be the 236 HFs, the smart guys on the block !

Tue, 08/21/2012 - 13:30 | 2724411 noses
noses's picture

The person who bought Apple at that price is  an idiot - and since when is fleecing idiots a punishable crime?

Tue, 08/21/2012 - 13:27 | 2724395 Itch
Itch's picture

Roll up, roll up boys and girls, all the fun of the fair...dont forget to try out our Nasdaq ride, it'll make you motherfucking barf on your shoes.

Tue, 08/21/2012 - 13:48 | 2724501 Disenchanted
Disenchanted's picture



It's gonna be like this...

Tue, 08/21/2012 - 13:27 | 2724398 SheepDog-One
SheepDog-One's picture

WHEEEEEE! Ok everyones hands in the air like you just dont care for the next roller coaster up n down!

Tue, 08/21/2012 - 13:30 | 2724408 francis_sawyer
francis_sawyer's picture

Anybody seen my Shelby GT around?... I thought I'd parked it over there...

Tue, 08/21/2012 - 13:29 | 2724409 diogeneslaertius
diogeneslaertius's picture

i guess you could say that the $AAPL *puts on sunglasses* DOESNT FALL FAR FROM THE ThREE


awwwww gold bitchezzz1!!!11111`


(this message brought to you by scotch: scotch, its whats for dinner)

Tue, 08/21/2012 - 13:33 | 2724431 TWSceptic
TWSceptic's picture

It's the same resistance it hit by the end of March, now with no fresh QE coming before elections, maybe reality will hit?

Tue, 08/21/2012 - 13:39 | 2724463 Hype Alert
Hype Alert's picture

But don't worry, the media that got BO elected, the same media that saw green shoots in every crack in the concrete after BO said in March 2009 it was a good time to buy, the media that with every recurring bad data point remarked "just as the economy was turning", the media that will turn over every blade of grass on Romney/Ryan, but not investigate anything on BO or Holder, will be on the case to get their man re-elected.

Tue, 08/21/2012 - 13:36 | 2724445 yogibear
yogibear's picture

Love those HFT, frontrunning bots. They just make the upside or downside that much more fierce. Also blows up many more accounts and trading firms. 

Tue, 08/21/2012 - 13:36 | 2724447 alien-IQ
alien-IQ's picture

Damn...I guess I should have pulled the trigger on those AAPL Sept 650 puts.

I must now punish myself with beer.

Tue, 08/21/2012 - 13:47 | 2724495 fuu
fuu's picture

Snap back to reality, oh there goes gravity.

Tue, 08/21/2012 - 13:48 | 2724502 Meesohaawnee
Meesohaawnee's picture

who was the poster double daring everyone to boogie crapple puts last night?

Tue, 08/21/2012 - 13:49 | 2724505 YesWeKahn
YesWeKahn's picture

At this point I think all the stupid suckers are all in. It it time to squeeze them out with margin calls.

Tue, 08/21/2012 - 14:05 | 2724574 NEOSERF
NEOSERF's picture

I keep waiting for the simple ZH headline of "Uh ohhh"

Tue, 08/21/2012 - 14:06 | 2724583 Meesohaawnee
Meesohaawnee's picture

i keep waiting for a "deer in the headlights" (reality) day

Tue, 08/21/2012 - 14:14 | 2724626 Nacho Libre III
Nacho Libre III's picture

Zh comments are so much fun to read. Awesome i say. Almost as good as the actual posts except for the tylers' stubborn adherence to reality.

Tue, 08/21/2012 - 14:22 | 2724658 SDS Trader
SDS Trader's picture

In reply to whstlblwr:

I don't have a position in FB.  I don't really care about FB.  I don't use FB although I have watched a lot of people waste a lot of time on it.  But it seems to me the best "friend" anyone long a stock can have is someone who is short the stock.  It's the shorts that can and usually do get burned.  If the shorts are spooked, that which they are short tends to go up FAST. 

I agree with the other posters in here - if FB is a solid company it will easily weather this storm of shorting. If the longs (who are probably going to buy and hold the stock for the long haul) want to burn the shorts, all they have to do is ask for a stock certificate and/or convert their margin accounts to cash accounts.  One phone call to your broker is all it takes to get a certificate on its way to your door, and the legitimate satisfaction of having taken your shares out of "street" where they can be loaned out.  Might not completely cure naked shorting, but it darn sure would NOT put more downside pressure on the stock.

It seems as though FB is doing many things which will only continue to pressure the stock.  Insider selling is pretty big.  Its future is controlled by Zuckerberg and him alone.  Zuckerberg exhibits insouciant behaviors; he is not a proven inconoclast like Jobs was.  Jobs earned the right to wear blue jeans and bow ties; Zuckerberg just looks silly in his hoody.   FB was priced for a growth rate it cannot produce.  It has not demonstrated how to monetize things well as of yet.  People knew all of this.  It was re-iterated by MS during the road show. Its fellow stocks such as GRPN and ZNGA are not doing well.

Those things could change.  Zuckerberg could pull a rabbit out of his hoody and take social media to a new level for both the user and the advertiser.  But until then I can't blame FB's poor performance on naked shorts.  FB wanted to go public.  It now has to be subservient to what its shareholders want - growing sales, growing profits and such to justify its stock price.  As of this point in time, it has not done that.

Tue, 08/21/2012 - 14:55 | 2724826 mccoyspace
mccoyspace's picture

Well said. Zuck want total control, but he just brought thousands of shareholders on-board. Now they're yelling at him.

FB has always struck me as the new AOL -- a big, ugly walled garden that tries to be everything. I prefer the more streamlined and open experiences of Twitter and Tumblr.

I long ago emtied out my FB account of any personal information except for name and city. Just the shell is left which I haven't touched in months. I know many people that don't bother with it anymore at all.


Tue, 08/21/2012 - 14:31 | 2724701 Mjolnir
Mjolnir's picture

Naked shorts....not to good.

Thiel....Director on the Board of FB sells....speaks volumes....does one really think its the naked shorts?   The insiders are bailing!  House is on fire...

Move on 

Tue, 08/21/2012 - 14:53 | 2724814 bagehot99
bagehot99's picture

Thiel's a venture capitalist, the firm has gone public; why would he stick around? It's not like Mark Zuckerberg exhibits any type of humility and would seek the guidance of a proven, long term winner like Thiel.

I'm hoping he dumps more money into the Seasteading Institute and they give me a plum job, with primo bennies and the chance to live on an oil rig for the rest of my life.

Tue, 08/21/2012 - 15:11 | 2724894 q99x2
q99x2's picture


Bernanke won't stop until someone handcuffs him and locks him up.

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