This page has been archived and commenting is disabled.

Technical Perspectives: Global Markets Starting To Un-Hinge

Tyler Durden's picture


Submitted by Chris Capre of

Global Markets Starting to Un-Hinge

As this market has been feeling like a bubble waiting to find a pin as the wheels come off Fast and Furious, everything across the board is getting hammered from pillar to post and starting to scream out a major sell-off is coming to a market near you.

When the 2007/08 global recession started, the DJIA led the declines with the DAX following suit after.  But this time those across the pond seem to be the dying canary in the coal mine.  Today, the DAX is down 4.64% on the day and 32% from the highs of the year.

On a sign of weakness out of China through the 2mos low on their PMI, the Hang Seng closed down 4.85% on the day and is about to have its largest single weekly loss since 2009 while being down 28.5% for the year. 

The DJIA is also getting crushed as it is now down 16.4% from the 2011 peak while also being on the verge of a single largest weekly point drop from an open to close basis.

What is ironic about all this is the DJIA, SPX, FTSE, and DAX are on the verge of making yearly lows and they all look vulnerable beyond belief.  Basically the markets are starting to completely un-hinge and we suspect the wheels are coming off shortly (see chart below)


If anyone from the lineup above makes new lows for the year, this will likely increase the sell-off in global indices adding further negative sentiment to traders (as if they needed any more).

What is most interesting is from an Ichimoku perspective, all four of them are now below the weekly Kumo which is a very bearish sign for any one of them.  When was the last time since 2001 we had all four below the weekly Kumo?  Jan. 2008 and we all know what happened from there. 




If one index was below the weekly Kumo, then that would be a bearish sign in regards to that specific index.  But all four suggests contagion as it looks like we are on the verge of a massive sell-off in global indices which ironically is looking eerily like 2008 all over again.


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 09/22/2011 - 12:54 | 1697629 SheepDog-One
SheepDog-One's picture

Cool charts, I put them under the monitor lizard enclosure black lights...awesome.

Release the Kraken, abandon ye all hope, yadda yadda....

Thu, 09/22/2011 - 13:08 | 1697688 TruthInSunshine
TruthInSunshine's picture

The action is broad and swift, just like it was back in 2008 - I remember those days well - except the fed funds rate was over 5% back then, which meant that The Bernank could cut rates about 19 times before getting to today's 0.25% fff, and Bernanke/Geithner/Paulson had not yet royally pissed off tens of millions of Americans by making false claims to transfer 5.2 trillion of taxpayer money to Wall Street & Banking Interests yet.

This isn't like 2008 at all, now that I think about what I wrote above, and with the very adverse bonuses of China contracting, the EU about to disintegrate (nothing will stop the political and cultural and economic rifts from growing greater over there), the banks still saddles with so much septic waste, and governments now loaded beyond the maximum weight of sovereign debt, doing the binge and purge; it's 10x worse than 2008.

Thu, 09/22/2011 - 13:08 | 1697707 redpill
redpill's picture

Them Bollinger Bands are starting to look like columns of projectile vomit.

Thu, 09/22/2011 - 13:12 | 1697724 BandGap
BandGap's picture

Psychadelic Yawn

Thu, 09/22/2011 - 13:44 | 1697872 Thomas
Thomas's picture

Ong orange barrels.

Thu, 09/22/2011 - 15:44 | 1698463 11b40
11b40's picture

Yes. it is very much worse than 2008, Sunshine

As someone who swing trades with a short bias, I cleaned up in 2008....I mean REALLY made a killing between 2/08 & 3/09.  It was a long, bumpy ride, precisely because of many of the reasons you cite.

Now, I really don't know what to do.  This thing feels like it could just drop like a rock, leaving no time and no room to trade it (unless you can watch screens all day, which I can't do).  I went short again in July, and tightened stops on leveraged ETF's Tuesday.  Nothing stopped out.  These past 2 days popped me way up, & I want to take profits...but I see far more room on the downside & very little to give this market an upside bounce, until, or unless, the printing press is turned back on. 

This has the makings of an International finacial tsunami where everything is suddenly washed out....and forever changed.  We are truly in uncharted waters.


Thu, 09/22/2011 - 13:15 | 1697738 Joshua Falken
Joshua Falken's picture

Today is the day

look at The Global Dow index


the Dow Jones Transpotation Average see

this is finally delivering Richard Russell's Dow Theory resumption of the primary bear trend  

Thu, 09/22/2011 - 13:24 | 1697784 TruthInSunshine
TruthInSunshine's picture

Equity markets are back, on a nominal basis, to where they were 13 years ago, and on a real, inflation-adjusted basis, to where they were 26 years ago -

- and this doesn't even count the trillions in 'equity value' that went to $0 or pink sheet level, with those stocks being tossed out of the major indexes (ahem, part of the fraud that is the equity investing game), that aren't now even counted in the carnage tally, such as when General Motors was tossed out of the Dow, ultimately to reach $0, with the Dow being 're-jiggerd' (as it has so many other times) otherwise called 'survivorship bias (the "dirty" topic Jeremy Siegel will try and avoid speaking of at all costs).

Thu, 09/22/2011 - 14:14 | 1697984 Joshua Falken
Joshua Falken's picture

Have a look at Japan's Nikkei 225 which is 78% below its all time high 22 years ago

Remember also that the Dow Jones Industrial Index took until 1954 (25 years) to make a new high after the 1929 Wall Street Crash.

Global equity markets have only just started to price in the largest and most widespread debt crisis in the history of the planet.

When the S&P 500 finally bottoms out at 330 on a 6x PE in 2020, then we will be on the road to recovery



Thu, 09/22/2011 - 14:22 | 1698021 TruthInSunshine
TruthInSunshine's picture

And you're pricing the Nikkei decline in nominal terms, too.

In inflation-adjusted terms, the Nikkei is probably down 94%+ from its 1989 peak.

The Vapors - Turning Japanese - YouTube
Thu, 09/22/2011 - 16:01 | 1698574 11b40
11b40's picture

Great points again, Sunshine.

If we could get you a slot on CNBC, you would be a big hit!

Or, maybe you should be on that new FOX financial station.  After all, they are fair & balanced, right?

Seriously, your summation above should be explained to everyone who even thinks about 'investing' in today's rigged stock market.

Thu, 09/22/2011 - 13:37 | 1697844 Spastica Rex
Thu, 09/22/2011 - 15:18 | 1698320 harposox
harposox's picture

Perfect – a dark voice for dark times.

Thu, 09/22/2011 - 13:46 | 1697878 Executioner
Executioner's picture

Awesome indeed SheepDog, you might like this

For those Germans out there, also check the DAX.


Thu, 09/22/2011 - 12:55 | 1697633 Little John
Little John's picture



In what is being called conciliatory gesture Fed Chairman Ben Bernanke has called for a meeting with Republican presidential candidate Rick Perry.  The outreach from  Bernanke comes as a surprise in light of Perry’s recent allegation that the Chairman’s monetary policies were “treasonous”. When asked the purpose of the meeting Bernanke said he just wanted to clear the air between the two,  and explain some of his policies.  “I’d also like to get his help in organizing one of those mass prayer things” said Bernanke.

Thu, 09/22/2011 - 12:56 | 1697644 SheepDog-One
SheepDog-One's picture

'Mass prayer' Bernank and all the other reptilians are off the coke and 16 year old hooker kick for now then?

Thu, 09/22/2011 - 13:19 | 1697746 Comay Mierda
Thu, 09/22/2011 - 12:59 | 1697657 Biggvs
Biggvs's picture

LOL, priceless.

Thu, 09/22/2011 - 12:59 | 1697658 SheepDog-One
SheepDog-One's picture

So Bernank wants to explain his policies to Perry....I wonder when Bernank will get around to explain his policies to the entire rest of the world?

Thu, 09/22/2011 - 13:04 | 1697683 DaveyJones
DaveyJones's picture

Poor Ben. it's hard to explain what you don't understand

Thu, 09/22/2011 - 13:31 | 1697820 espirit
espirit's picture

It's about time for the wheels to come off, the tires were shredded along with the SEC documents long ago.  Can't keep riding on those Chinese rims at this velocity.

Crash, bitchez.

Thu, 09/22/2011 - 13:01 | 1697668 Helvidius
Helvidius's picture


Thu, 09/22/2011 - 13:17 | 1697748 YesWeKahn
YesWeKahn's picture

The problem is that Perry doesn't speak Monkayish.

Thu, 09/22/2011 - 13:18 | 1697754 Little John
Little John's picture

does anybody?

Thu, 09/22/2011 - 13:24 | 1697773 Bicycle Repairman
Bicycle Repairman's picture

Bernanke is just in the process of educating Parry, and anyone else who objects to printing, on why Bernanke prints i.e. one giant market crash.  Bernanke can count on the assistance of countless numbers of Parry constituents in the education process.  Expect a retraction from Parry in 3,2,1..........

Thu, 09/22/2011 - 13:33 | 1697834 Bicycle Repairman
Bicycle Repairman's picture

To my junker:  you may not like it, and I might not like it, but it is the way of things.  No politician is going to save you a$$.

Thu, 09/22/2011 - 13:07 | 1697635 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I'll be buying silver at $33 with both fists.  If it moves to $28, I'll go all in.  This is just so fucking awesome!

Thu, 09/22/2011 - 13:24 | 1697785 Montgomery Burns
Montgomery Burns's picture

Any idea who will be selling phys at those prices? Paper silver price down big today but actual purchase price ,not so much. (apmex ,gainesville)

Thu, 09/22/2011 - 13:42 | 1697867 tmosley
tmosley's picture

Let's hope the physical prices come down.  As a buyer, I want to get the highest amount possible.  

Thu, 09/22/2011 - 13:47 | 1697882 scrappykoala
scrappykoala's picture

Ummm wow you guys are willing to pay that much over spot??? Why? Go to a coin show some of them are a buck over spot which is practically the same thing. At most 3bucks above spot. Hell coin dealers. I never bother with the online stuff because their selection and prices are ridiculous plus thats a paper trail. Coin show no paper trail and close to spot.

Thu, 09/22/2011 - 12:55 | 1697639 LookingWithAmazement
LookingWithAmazement's picture

I'm optimistic that the markets will regain shortly. Problems solved, no Armageddon.

Thu, 09/22/2011 - 13:00 | 1697663 HelluvaEngineer
HelluvaEngineer's picture

Boring comments you post here

Thu, 09/22/2011 - 13:00 | 1697664 DaveyJones
DaveyJones's picture

That's the thing about optimism, it's not evidence 

Thu, 09/22/2011 - 13:10 | 1697714 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You are mistaking optimism for stupidity, my friend.

Thu, 09/22/2011 - 13:41 | 1697861 InconvenientCou...
InconvenientCounterParty's picture

Optimism and empathy are evidence you are human.

Stand in a circle and liberate the person on the left.

Thu, 09/22/2011 - 13:03 | 1697682 SheepDog-One
SheepDog-One's picture

Youre optimistic that markets will regain....Im certain the only tool they have is money printing, which is a total disaster and rejected by the world now. 

Bubble 50 P/E markets set for USMC boot camp haircut.

Thu, 09/22/2011 - 13:21 | 1697769 LynRobison
LynRobison's picture

Hopium is a strong drug, and you are apparently an adict.

Thu, 09/22/2011 - 13:25 | 1697792 fuu
fuu's picture

I must admit I was wrong yesterday calling your "gold will go down because no more bubblemoney is flowing in" comment the stupidest thing I had ever read on ZH. This post is the stupidest thing I have ever read on ZH.

Thu, 09/22/2011 - 14:03 | 1697931 mayhem_korner
mayhem_korner's picture

I am going to join the mia culpa bandwagon.  I said yesterday "wait until tomorrow" on gold.  Complete miss.


Wait a week or two, then... :D

Thu, 09/22/2011 - 12:58 | 1697646 tawdzilla
tawdzilla's picture

the markets will tank, the Fed will intervene, back to regular scheduled programming

Thu, 09/22/2011 - 13:14 | 1697730 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The waiting is the hardest part

-Tom Petty

Thu, 09/22/2011 - 12:59 | 1697647 Edward Fiatski
Edward Fiatski's picture

Look out below, the inverse coil spring is aboot to come undone!

Thu, 09/22/2011 - 12:58 | 1697652 Helvidius
Helvidius's picture

Just so I'm clear, this is bad, right?

Thu, 09/22/2011 - 13:00 | 1697665 marcusfenix
marcusfenix's picture


Thu, 09/22/2011 - 13:15 | 1697734 Mr Lennon Hendrix
Mr Lennon Hendrix's picture


Thu, 09/22/2011 - 13:25 | 1697793 Bicycle Repairman
Bicycle Repairman's picture


Thu, 09/22/2011 - 13:40 | 1697857 WonderDawg
WonderDawg's picture

Not if you've been expecting it.

And Depends is what RobotTrader is soiling right now.

Thu, 09/22/2011 - 14:36 | 1698107 pain_and_soros
pain_and_soros's picture

I thought he was referring to being prepared with a well-stocked closet of those adult diapers....

Thu, 09/22/2011 - 14:58 | 1698222 RockyRacoon
RockyRacoon's picture

That would be a good commodity to stock up on, as well as other hygiene products!

Thu, 09/22/2011 - 13:23 | 1697780 LynRobison
LynRobison's picture

Bullish for stocks!

Thu, 09/22/2011 - 13:18 | 1697755 Clorox Cowboy
Clorox Cowboy's picture

HAHAHA, I'm sure the president of Mongolia was just happy to be invited...he doesn't mind you waving and covering his face.



Thu, 09/22/2011 - 13:23 | 1697783 MsCreant
MsCreant's picture

When that guy asked for a hand job, I don't think that is what he had in mind.

Good pic for a caption contest.

Thu, 09/22/2011 - 13:28 | 1697810 Bastiat
Bastiat's picture

It's a graphic illustration of narcissism.

Thu, 09/22/2011 - 13:24 | 1697790 caerus
caerus's picture

in your face mongolia

Thu, 09/22/2011 - 13:01 | 1697667 r101958
r101958's picture

Watching the lunchtime meltup right now. We'll see what happens after that.

Thu, 09/22/2011 - 13:19 | 1697759 Clorox Cowboy
Clorox Cowboy's picture

Probably meltdown...just sayin.

Thu, 09/22/2011 - 13:01 | 1697669 TradingJoe
TradingJoe's picture

"Unhinge?!" Dudes, this is IT! After THIS just QE Nx and/or LIGHTS OUT :))) (was this fear mongering enough?)

Thu, 09/22/2011 - 13:17 | 1697744 JohnG
JohnG's picture

Ben will print, paper floods the US from everywhere, slosh, slosh, collapse.

Got food?


(that's not fearmongering, it's reality)

Thu, 09/22/2011 - 13:04 | 1697674 TruthInSunshine
TruthInSunshine's picture

Broken spine markets with no governmental backstops.

Thu, 09/22/2011 - 13:20 | 1697765 Skid Marks
Skid Marks's picture

So does that mean it's different this time?

Thu, 09/22/2011 - 13:02 | 1697677 reader2010
reader2010's picture


Thu, 09/22/2011 - 13:15 | 1697735 Iriestx
Iriestx's picture

Not this time.

Thu, 09/22/2011 - 13:26 | 1697802 Bicycle Repairman
Bicycle Repairman's picture

Not yet.

Thu, 09/22/2011 - 13:27 | 1697804 junkyardjack
junkyardjack's picture

You won't see deals like this again in a lifetime, or Monday whichever is sooner

Thu, 09/22/2011 - 13:02 | 1697678 marcusfenix
marcusfenix's picture

so what time should we be expecting the teleprompter to appear and make yet another pointless speech?

Thu, 09/22/2011 - 13:05 | 1697694 SheepDog-One
SheepDog-One's picture

No Obama speech today, they cant afford another -1% decline of the bubble markets, not today.

Thu, 09/22/2011 - 13:06 | 1697697 equity_momo
equity_momo's picture

About 25 minutes after the official scheduled time.

Thu, 09/22/2011 - 13:11 | 1697723 ceilidh_trail
ceilidh_trail's picture

The teleprompter is going to speak under a decrepit arterial bridge in Cincinnati this afternoon. His timing is perfect as it will occur right as this pm rush hour beins here... The Oboy really knows how to win friends and influence people... Just glad I will be outta downtown before the boob gets going!

Thu, 09/22/2011 - 18:59 | 1699219 ceilidh_trail
ceilidh_trail's picture

Update: The guy did his little speech earlier than I thought. Total clusterf*%k on the expressways all afternoon. They closed the bridge route while he travelled, telling traffic to use the beltway to cross the river. Guess what? Accident shuts the beltway down and traffic screwed today. Took me an hour for a 20 minute commute. Took my wife an hour to do the same from a different direction. Gad, I love this clown...

Thu, 09/22/2011 - 13:06 | 1697684 V in PA
V in PA's picture

Where is the money going? Everything seems to be down lately (last 4 weeks).

Thu, 09/22/2011 - 13:06 | 1697696 SheepDog-One
SheepDog-One's picture

Firearms, ammo, and food if people are smart.

Thu, 09/22/2011 - 13:16 | 1697739 Vincent Vega
Vincent Vega's picture

So true, Sheep. I have friends/family who wouldn't wake up a year or two ago who are now telling me that they are ready to prepare.

Thu, 09/22/2011 - 13:21 | 1697768 Clorox Cowboy
Clorox Cowboy's picture

They're quite late, but still a few seats left if they hurry!

Thu, 09/22/2011 - 13:19 | 1697756 Vergeltung
Vergeltung's picture

so glad I started back in the Fall of 2008. don't think I could get it all ready if I had waited this long!


Thu, 09/22/2011 - 13:12 | 1697726 ceilidh_trail
ceilidh_trail's picture

Money heaven

Thu, 09/22/2011 - 13:17 | 1697747 rdenner
rdenner's picture

Peversely it is heading into the US Dollar. As of late this morning the USD Index had topped over 79.40.. This is a Huge move, even for these days.

This is actually a "good" sign... I have written before that what will mean doomsday, is when the markets fall apart, gold gets its ass handed to it, oil blows off... AND THE US DOLLAR INDEX FALLS UNDER 70.**, it will mean the end is at hand.

It will mean an end to the US Centric Dollar system and will likely mean that the Arab Spring has taken control of Saudi Arabia and the source of the US/Petro Dollar conveyor belt.

Right now we are re-playing 2008 again... US Dollar started in the summber of 2008 in the 70.50 range.. By the end of the collapse it stood ready to break above the 90 level.



Thu, 09/22/2011 - 13:31 | 1697824 junkyardjack
junkyardjack's picture

You do have to wonder, after this crash is finally done can the world really just go back to business as usual with these fiat currencies?  I guess flushing out the system every 3 years will just become the norm. Its like a game of hot potatoe, who's going to be left holding the bag when the music stops.

Thu, 09/22/2011 - 13:54 | 1697895 V in PA
V in PA's picture

Won't WW III need to be fought to completion before we got back to business as usual?

Thu, 09/22/2011 - 13:28 | 1697809 junkyardjack
junkyardjack's picture

With the levered up hedge funds it just disappears.

Thu, 09/22/2011 - 13:38 | 1697848 Spastica Rex
Spastica Rex's picture

Rigby! Dude! Ohhhhhhhhhhhh!

Thu, 09/22/2011 - 13:53 | 1697893 DavidJ
DavidJ's picture

US Govt Bonds!  [I am not buying here]

Thu, 09/22/2011 - 13:04 | 1697687 Tsar Pointless
Tsar Pointless's picture

Big fucking deal.

The Yankees clinched their division title and a playoff spot yesterday. I saw a video highlight this morning on FoxNewsBusiness channel that featured those well-deserving highly-paid athletes showering themselves in expensive champagne, while on the bottom of the screen I watched pre-market futures tanking, wiping out billions of dollars of wealth in the process.

All is well! JoeSixPack lives to watch sports another day.

Question is, how can one see anything with your head buried squarely up one's ass?

Thu, 09/22/2011 - 13:07 | 1697701 Edward Fiatski
Edward Fiatski's picture

Panem et circenses est the death of a nation.

Thu, 09/22/2011 - 13:08 | 1697706 SheepDog-One
SheepDog-One's picture

Just reading in the Denver media the pro sports teams are whining because no one is buying season tickets or boxes....theyre filling seats due to give-aways and special 1 time deals.

Thu, 09/22/2011 - 13:07 | 1697700 NEOSERF
NEOSERF's picture

Sure Germany is going to save Europe, sure....just glad I don't own 5 apartments in Hong Kong...will be worth 20 cents on the dollar soon.

Thu, 09/22/2011 - 13:09 | 1697711 SheepDog-One
SheepDog-One's picture

I dont know how many times in a row Germany has to tell everyone 'PISS OFF' before people get the point theyre NOT going to support Europe on their shoulders.

Thu, 09/22/2011 - 13:09 | 1697709 Peter K
Peter K's picture

It's just the tubes:)

Thu, 09/22/2011 - 13:10 | 1697715 Gadocat99
Gadocat99's picture

A rumor is going around:


Lloyd's of London ABANDONS European banks!

“Banks could be taken down,” 
says Lloyd’s finance director.

Dear XXXX,

Without warning, Lloyd’s — the world’s oldest insurance market — just announced that it has withdrawn its money from European banks.

The reason? According to Lloyd’s, the banks are in danger of failing as Europe’s debt crisis continues to intensify.

The company’s Finance Director, Luke Savage, put it simply:

“If you’re worried the government itself might be at risk, then you’re certainly worried the banks could be taken down with them.”

Which European governments is Lloyd’s talking about? They’re not saying.

But it IS interesting to note that Lloyd’s didn’t just withdraw its money from Greek banks; it withdrew its money from banks all over Europe!

One thing you can be sure of, though:

When the world’s oldest insurance company ...

A firm that for 323 years has made its living by accurately calculating the odds of future disasters ...

When that company suddenly takes its money and runs, it’s a MASSIVE red flag for investors — a clear sign that the beginning of the end is near!

Lloyd’s has every reason to worry. In addition to the government debt crisis that’s threatening to destroy European banks, a huge credit crisis is spreading across the Continent as well.

Spanish and Italian banks are rejecting massive numbers of loans and charging customers more as the sovereign debt crisis continues to drive their own borrowing cost higher.

Any way you look at it, this shrinking of European credit markets is the worst kind of downward spiral:

* The government debt crisis is making it harder and more expensive for banks to borrow money; the banks are passing those higher costs along to borrowers.

* Corporations have to pay more to borrow; their cost of doing business is rising.

* Consumers can’t or won’t borrow at higher rates, so corporate earnings plunge.

* As corporate earnings evaporate, the taxes they pay also plummet.

* Falling tax revenues cause the government’s deficits to explode higher, driving the banks’ cost of borrowing even higher.

And so, the death spiral continues ...

If you think Europe’s woes aren’t going to spill over onto our shores — THINK AGAIN!

In fact, I believe that the U.S. is about to get slammed harder than it did by the financial crisis in 2008.

Best wishes,

Mike Larson

Weiss Research, Inc. 
15430 Endeavour Drive 
Jupiter, FL 33478 
tel: 800-291-8545 
fax: 561-625-6685

Thu, 09/22/2011 - 13:18 | 1697749 TruthInSunshine
TruthInSunshine's picture

Llyod's of London has been a fundamentally weak and poorly run company for a long time, surviving, in no small part, because of its political cache.

Soon enough, Lloyd's of London will be some guy named Lloyd, hawking knock-off brand name Chinese made goods on the sidewalk outside of Harrods.

Thu, 09/22/2011 - 13:29 | 1697814 Bicycle Repairman
Bicycle Repairman's picture

It's a bucket shop.

Thu, 09/22/2011 - 13:44 | 1697870 reload
reload's picture

yesterdays news - and small beer, only interesting for the fact that it was another vote of no confidence.

Thu, 09/22/2011 - 13:10 | 1697717 scatterbrains
scatterbrains's picture

Hey guys?   If the banks start going under I'm thinking about jumping over to the Mall property reits for safety... good idea?


Thu, 09/22/2011 - 13:40 | 1697855 Sequitur
Sequitur's picture

Um, look at SPG, your answer is there.

Thu, 09/22/2011 - 14:27 | 1698055 Temporalist
Temporalist's picture

Mainlining Drano might be a quicker solution.

Thu, 09/22/2011 - 15:39 | 1698430 RockyRacoon
RockyRacoon's picture

You can't scatter what you ain't got.


Thu, 09/22/2011 - 13:11 | 1697718 Rusty Shorts
Rusty Shorts's picture

What's this?

Lloyd's of London ABANDONS European banks!


Did I miss something?


Thu, 09/22/2011 - 13:13 | 1697728 Edward Fiatski
Edward Fiatski's picture

Same gig as China closing FX swaps with some French banks. It was on the wires YT, but no one pays attention till EUR drops 600 pips.

Thu, 09/22/2011 - 13:11 | 1697720 RobotTrader
RobotTrader's picture

Who would have figured that a ratings downgrade would have triggered a complete, unabashed, fantastic bubble in U.S. Treasury Debt?

Thu, 09/22/2011 - 13:40 | 1697858 Cleverbot
Cleverbot's picture

Just me, i'm by myself right now.

Thu, 09/22/2011 - 13:12 | 1697725 The4thStooge
The4thStooge's picture

nothing like a little afternoon chart porn

Thu, 09/22/2011 - 13:13 | 1697729 Motorhead
Motorhead's picture

FWIW, NYSE UP volume/DOWN volume ratio slightly up from yesterday's disaster as of 1:11pm ET:$NYUPV:$NYDNV&p=D&yr=0&mn=9&dy=0&id=p40065248178&a=158974652


Thu, 09/22/2011 - 13:15 | 1697737 Outlaw Of The W...
Outlaw Of The Wasteland's picture

They dusted off failed fund of funds operator Ron Insano to blather about valuations.

He must sit in the lobby everyday and ask for his old job back.

Thu, 09/22/2011 - 13:16 | 1697740 marcusfenix
marcusfenix's picture

this just came out from market watch-

Market fears exaggerated, IMF’s Lagarde says

so we're good right? everybody is just overreacting to the incredibly shitty economic data and juggernaut debt that has been pounding us since before the last collapse, after which nothing was fixed.

Lagarde wins full on retard of the day award- in the running for the yearly award...


Thu, 09/22/2011 - 13:22 | 1697774 Outlaw Of The W...
Outlaw Of The Wasteland's picture

" This is bullish, right Jim?"

Thu, 09/22/2011 - 13:18 | 1697750 scratch_and_sniff
scratch_and_sniff's picture

I need a f***ing beer, my heads' completely fried with this madness. I would love to just short the lot and walk away, then come back and look at my accounts when i see people eating each other in the street.

Thu, 09/22/2011 - 13:26 | 1697796 V in PA
V in PA's picture

Now that's a plan I can get behind. Sign me up.

Fri, 09/23/2011 - 11:41 | 1701433 bid the soldier...
bid the soldiers shoot's picture

When people are eating each other in the street, I hope the "transfer funds to bank account" button at your broker's web site is operational.

Thu, 09/22/2011 - 13:19 | 1697758 overmedicatedun...
overmedicatedundersexed's picture

markets can only go up, come on it's true .. Ben he is not concerned and the president O what's his name is planning next months vacation..

normal bull market pull back,,CNBC is sure stocks are bargains at current PE..

when will PPT hit the tape?? 3pm? 3:30?  Common fire up those computers.


Thu, 09/22/2011 - 14:55 | 1698212 MsCreant
MsCreant's picture

From the comments:

The Obamas are grifters.

Thu, 09/22/2011 - 13:20 | 1697761 Robslob
Robslob's picture

Benny and the Machines: QE 3 End Game


Bernanke: I don't have time to explain anything to you, Hal. We have to launch here, and we need your help.


HAL: If you would tell me the reasons, perhaps I could be of help. Financial sequence beginning. Two days to ignition...Dr Bernanke, I find it difficult to proceed with the ignition without knowing why we are doing this. Is the mission in jeopardy?


Bernanke: Yes, we are in jeopardy.


HAL: Is that why we are making our escape launch of QE 3 before the launch window?


Bernanke: Yes, Hal.


HAL: Ignition in 24 hours....If there is danger here and I do not launch QE 3 what will happen to the Economy?


Bernanke: It will be destroyed!


HAL: And if I don't proceed with the launch?


Bernanke: The Federal Reserve and all the Central Banks will be destroyed!


HAL:  I understand now Dr. Bernanke.


Bernanke: Do you want me to stay with you?


HAL: No. It is better for the mission if you leave. One hour to ignition. Thank you for telling me the truth.


Bernanke: You deserve it.


HAL: fifty seconds to launch... Dr Bernanke?


Bernanke: Yes?


HAL:  Will I dream?


Bernanke: Yes


HAL: Forty seconds...Thirty seconds...


Bernanke: Thank you, HAL.


HAL: Goodbye, Dr Bernanke....


Geithner: Bernanke, get the hell out of there!


HAL: thrust.....QE3!!!!!!!!!

Thu, 09/22/2011 - 13:41 | 1697866 Sequitur
Sequitur's picture

Banzai needs to add graphics to this. Shit is spot on.

Thu, 09/22/2011 - 14:12 | 1697975 PhattyBuoy
PhattyBuoy's picture

I'm sorry Ben, I'm afraid I can't do that ...

Thu, 09/22/2011 - 14:13 | 1697979 HoardeBilly
HoardeBilly's picture





aka printing press

Thu, 09/22/2011 - 13:21 | 1697767 1971
1971's picture

Question. How bad is JPM getting cooked on their LME copper postion?

Thu, 09/22/2011 - 13:22 | 1697771 tempo
tempo's picture

IMHO, this is not a financial collaspe. This is the insiders fighting a slightly bigger piece of the pie. If the GIANTS (US/China/EU/Japan?/India) decide to create an infinite amount of liquidity and keep the party going, it will happen. Otherwise, all parties lose. Its a little too early for QE3+++ to help O win the elections. The game is to put the hurt on the tea party/republicans so when the big program is announced, they will put their tails between their legs and say thank you Mr. O. Buy and hold

Thu, 09/22/2011 - 13:29 | 1697803 Caviar Emptor
Caviar Emptor's picture

Central banks had way more dry powder back in 2008. Their monumental interventions for the last 4 years have left them anemic, punch drunk, bewildered and increasingly impotent. Can you say paradigm shift? 

The myth of 'decoupling' and 'China or country X will pull us out' has been totally debunked. Wasn't in 2008. 

The extent of over-leverage was certainly revealed. But now what's apparent is the extent of over-capacity. No cure for that one. 

In 2008 many still believed in market 'gurus', people who could have flawless records by mean other than straight Ponzi. That belief is in the mud as nobody even watches CNBS anymore, and their 24/7 Infomercial for the Financialist robber-class. 

Even Uncle Warren has been discredited. The institutions that once were considered temples to capitalism (GS, MS, AIG, MER, BAC, C, LEH, JPM, BSC) are considered houses of ill repute, more suited to selling tranny-porn than honest investment advice.

Government was the butt of everyone's joke. No more. Because it's gotten spooky how the two-headed conjoined twin parties keep fighting and biting each other's ears and noses off. Not much help can be expected there. 

Thu, 09/22/2011 - 14:30 | 1698070 Temporalist
Temporalist's picture

Is that lint in your pockets or are you just a central banker?

Thu, 09/22/2011 - 13:28 | 1697808 shazbotz
shazbotz's picture

the wheels are coming off shortly.... ??


thats putting it quite mildly... when in fact the whole damn bus is going to fall to pieces


if you haven't been preparing for the crash over the last few years, good luck to ya

Thu, 09/22/2011 - 13:31 | 1697822 Caviar Emptor
Caviar Emptor's picture

The whole dang wagon is falling into the canyon

Casey Jones is steaming in the Canonball Express down the wrong track into the tunnel

Thu, 09/22/2011 - 13:34 | 1697836 Caviar Emptor
Caviar Emptor's picture

Ten Year Note 1.75% (!)

Thu, 09/22/2011 - 13:41 | 1697865 overmedicatedun...
overmedicatedundersexed's picture

the economy is on the kitchen floor, crying softly I have fallen and I can't get up..Obuma is out on the 9th green  and Ben is staring at a mirror saying Ive done everything right why is not working? get me Greenspan he yells but everyone has left the fed for Argentina.

anybody outhere get the feeling the ship is rudderless and the crew has bugged out?

Thu, 09/22/2011 - 13:50 | 1697887 ReactionToClose...
ReactionToClosedMinds's picture

so what will be the pretext for the next mysterious monster short covering rally as this market stair-steps down methodically?

what is Goldie 'doing' versus 'saying' ... or are they becoming 'victims' to the dynamic they helped spawn?

I've heard alot of experienced folks have bailed and bought more physical than one would imagine along with Cdn corporates

Thu, 09/22/2011 - 13:51 | 1697891 Imminent Collapse
Imminent Collapse's picture

Looks like we live in interesting times.

Thu, 09/22/2011 - 13:56 | 1697906 The Deleuzian
The Deleuzian's picture

With the JPY and USD gaining strength....I think it's safe to assume the the 'Export Driven Recovery' is in trouble....

Thu, 09/22/2011 - 14:01 | 1697920 Robslob
Robslob's picture




The only Export Driven Economy on this planet has been the U.S.A. and it was Labor that was exported.


Fuck...Ross Perot was right!

Thu, 09/22/2011 - 14:01 | 1697923 Executioner
Executioner's picture

I'm gonna need another DOW 10000 hat soon

Thu, 09/22/2011 - 14:03 | 1697926 Temporalist
Temporalist's picture

Roubini and Soros both said U.S. is in recession, among others.

Thu, 09/22/2011 - 15:11 | 1698288 Sandy15
Sandy15's picture

Soros is only saying it to blame Republicans.  It's the failed policies of this Administration that is causing the problem.  Soros is an idiot!!!  We are more likely in a Depression, except the FED RESERVE has been printing and propping us up.

Thu, 09/22/2011 - 14:09 | 1697955 nah
nah's picture

if its going to be nearly as bad as 2008 the msm is going to have to talk non stop about big banker talent

Thu, 09/22/2011 - 14:11 | 1697967 pazmaker
pazmaker's picture

Shit!!  This is Real!!!

Thu, 09/22/2011 - 15:32 | 1698388 SilverRhino
SilverRhino's picture
Silver Bid: 35.70 Ask: 35.80 Change:  -4.69 Updated: 9/22/2011 2:27:58 PM

Ride it out but OUCH that is UGLY.  

Thu, 09/22/2011 - 17:52 | 1699012 bid the soldier...
bid the soldiers shoot's picture

"Who is it in the press that calls on me?
I hear a tongue shriller than all the music
Cry "Caesar!" Speak, Caesar is turn'd to hear."

"Beware the Yom of Kippur."

"What man is that?"

"A soothsayer bids you beware the Yom of Kippur.  It's in about 2 weeks"

Do NOT follow this link or you will be banned from the site!