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"We Are Off The 2012 Lows" By About 10 Points

Tyler Durden's picture


While the Dow Jones Industrial Average crossed into negative territory for the year on Friday, E-Mini and the S&P are still "off the lows" of the year (low print was 1259.75 on January 5th). However, if the rapid sell off in the premarket session accelerates, it is possible that we will wipe out all of the 2012 gains in hours if not minutes: December 30, 2011 close was 1252.50. We are now 10 just points higher and closing fast.


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Sun, 06/03/2012 - 19:36 | 2490197 CvlDobd
CvlDobd's picture

Tyler! SHHHH! The PPT will be in there soon to buy up the weakness to discredit ZH, much like they slammed Silver during Dr. Paul v. Bernanke earlier this year.

Also that one dude should be happy because there are no bubbles on the right side of the chart. I wanna see us under 2009 lows!

Sun, 06/03/2012 - 19:41 | 2490216 LawsofPhysics
LawsofPhysics's picture

Maybe, but with current physical demand around the world being what it is, it will be difficult to keep the commodity complex from blowing up if they do so.  Just remember, if commodites for delivery stop crossing boarders, troops will, then this deflationary period will end in a hurry.  Same as it ever was.

Sun, 06/03/2012 - 19:46 | 2490230 CvlDobd
CvlDobd's picture

Agreed my friend.

Sun, 06/03/2012 - 19:50 | 2490239 Colombian Gringo
Colombian Gringo's picture

Unless the Central Banksters start printing in a big hurry, the market will go down very hard this coming week.

Sun, 06/03/2012 - 19:54 | 2490248 theTribster
theTribster's picture

All they have to do is hint at it, that's generally enough for a few days...

Sun, 06/03/2012 - 20:12 | 2490296 CrashisOptimistic
CrashisOptimistic's picture

Merkel was quoted today saying a really ominous thing.

"UNDER NO CIRCUMSTANCES will I agree to Eurobonds."

That left zero room for rumors to nibble away.  Pretty damn hard core.

Sun, 06/03/2012 - 21:35 | 2490504 DeadFred
DeadFred's picture

Of course politicians have been known to lie.

Sun, 06/03/2012 - 22:13 | 2490591 azzhatter
azzhatter's picture

Frau Merkel should avoid hot tubs. TPTB can be very persuasive

Mon, 06/04/2012 - 01:05 | 2490860 hedgehog9999
hedgehog9999's picture

This means Eurobonds is a done deal!!!!

Reminds me of an infamous Mexican President many years ago who one day said  " como Perro por mi Peso" indicating he likes to protect his Peso the way a dog protects his bone, the next morning he devalued the currency 100%. They always say the opposite of what they do...................

He sucked the life out of the country, that's what he did, but that's another issue.....

Mon, 06/04/2012 - 02:44 | 2490921 fourchan
fourchan's picture

yes we can?



more like what me worry?  

Mon, 06/04/2012 - 07:07 | 2491074 jeff montanye
jeff montanye's picture

he devalued the peso 100%?  you know that means to zero, right?  link?

Sun, 06/03/2012 - 20:56 | 2490360 Soul Train
Soul Train's picture

... but wait, there's more.

Obama has just dispatched Ms. Lael Brainard to lead the US Treasury Dept Washington DC effort,  into the EEC for high level meetings early this week. She is on an extensive tour beginning in Brussels to make it happen. Ms Brainard is flying Business Class right now out of Dulles Airport to Brussels as I type !

Ms Brainard is said to have the complete confidence of Mr Timmy Geithner to assess the situation and take action to review and report.

Longs have yet another excuse to mortgage the farm, and load up at the 200sma level! </sarc>

In all her radiant brilliance, here's a recent scripted quote from her majesty the Undersecretary of Treasury, International Affairs:

Mon, 06/04/2012 - 00:07 | 2490793 CompassionateFascist
CompassionateFascist's picture

Shoulda sent Blythe. She'd master the situation.

Sun, 06/03/2012 - 19:54 | 2490249 sunaJ
sunaJ's picture

Assignment this week:


Get into an argument/fight with a bank teller as you try to cash a check to yourself on a closed account that does not belong to that bank.  Insist that you just want equal treatment under the constitution.  The call will go out to the police as a "fraud in-progress." 

Sun, 06/03/2012 - 19:48 | 2490232 Michael
Michael's picture


German police officers escort an anti-crony capitalism protest march with some 20,000 people in Frankfurt, Germany, Saturday, May 19, 2012. Protesters peacefully filled the city center of continental Europe's biggest financial hub in their protest against the dominance of banks and what they perceive to be untamed capitalism, Frankfurt police spokesman Ruediger Regis said. The protest group calling itself Blockupy has called for blocking the access to the European Central Bank, which is located in Frankfurt's business district. (AP Photo/Michael Probst)

Sun, 06/03/2012 - 19:57 | 2490254 theTribster
theTribster's picture

That's really, really cool to see. I mean really cool, the first thing about this whole fucked up fiasco that has brought a smile to my face - good for you finding that. +1

Sun, 06/03/2012 - 19:59 | 2490260 fonzannoon
fonzannoon's picture

"German police officers escort an anti-capitalism protest march"


Sun, 06/03/2012 - 20:02 | 2490267 fonzannoon
fonzannoon's picture

I did not see "crony" in the article. Maybe I missed it.

Sun, 06/03/2012 - 20:10 | 2490291 Michael
Michael's picture

"Crony" goes well with "untamed" in the article so I fixed it for them.

How about this too;

Tea Party and Occupy activists rub shoulders at Bilderberg protest

Sun, 06/03/2012 - 21:07 | 2490456 LetThemEatRand
LetThemEatRand's picture

The worst fear of the oligarchs is that their divide and conquer strategy stops working.  Occupy and Tea Party have a common enemy.  They disagree about the solution, but how cool would it be if we all could debate the correct solution and have real elections between people who actually want to help the country.  I'll vote for someone I disagree with all day long if they truly want to do what is best for the citizens in their own mind, over someone who just wants to serve the oligarchs (almost all of our current national leaders fall into the latter category).

Sun, 06/03/2012 - 21:24 | 2490478 mtomato2
mtomato2's picture

Spoken, almost, as a  true libertarian.


You're slipping.

Mon, 06/04/2012 - 01:51 | 2490902 dolly madison
dolly madison's picture

Awesome links Michael.  They are really cheering me up.

Mon, 06/04/2012 - 02:16 | 2490910 The Onion Of Tw...
The Onion Of Twickenham's picture

David Icke??? You're quoting David Icke???


Icke was a former sports commentator on the BBC who once turned up on a chat show in a purple shell suit claiming to be the son of God, or an emissary from the planet Tharg, or some such thing. He has been a laughing stock in the UK for 20 years and his name is used as a synonym for whacko.


Anything that is on the David Icke website is conspiracy theory with extra whipped cream and a cherry on the top.

Sun, 06/03/2012 - 19:43 | 2490219 franzpick
franzpick's picture

With the 5% equity downside my screens are suggesting, the PPT may be about to experience some disabling performance anxiety.

Sun, 06/03/2012 - 22:51 | 2490660 DeadFred
DeadFred's picture

It stopped at support so it may need some more gut wrenching news to drop through. It does seem that type of news has been rather common recently.

Sun, 06/03/2012 - 20:15 | 2490310 IMA5U
IMA5U's picture

Le Barron's is already priming the pump for that

Mon, 06/04/2012 - 00:20 | 2490821 oldman
oldman's picture


Look at that chart --------------------not even the Fed is dumb enough to step in front of that.

This is pretty exciting                   om

Sun, 06/03/2012 - 19:41 | 2490214 scatterbrains
scatterbrains's picture

Interesting that both a Full Moon and the  "Passage of Venus" will occur on 5 June...

"The next transit of Venus will occur on 5 and 6 June 2012, and will be the last Venus transit this century; the prior transit took place on 8 June 2004. The previous pair of transits were in December 1874 and December 1882. After 2012, the next transits of Venus will be in December 2117 and December 2125."

Sun, 06/03/2012 - 19:43 | 2490220 Aductor
Aductor's picture

Sorry, is this the astrology convention?

Sun, 06/03/2012 - 19:50 | 2490245 CvlDobd
CvlDobd's picture

Although I don't know how to trade on it, some of the solar/lunar analysis is VERY interesting! Look up Chris Carolan's website and his book Spiral Calendar. Recently he has been all over the link between FED/ECB balance sheets and the value of equity/commodity markets. It's not for everyone but it is a fun alternative form of analysis. You can have a certain fundamental or technical outlook and you are thinking of taking a position in. It is nice to have Chris say something along the lines of a spiral calendar turning point is at hand in market XYZ. Gives you a little extra confidence on your trade. For those who still trade anyway.

Sun, 06/03/2012 - 19:56 | 2490253 A Lunatic
A Lunatic's picture

I'll definitely keep that in mind, just in case I run out of chicken entrails.................

Sun, 06/03/2012 - 20:03 | 2490270 CvlDobd
CvlDobd's picture

Just an alternative perspective. I've seen Tyler retweet Chris so it appears there is some mutual respect between the two parties.

Long chicken entrails.

Sun, 06/03/2012 - 22:20 | 2490608 UP Forester
UP Forester's picture

Just make sure you use hard-wired comms June 5-7, as the solar particles from the massive coronal hole are going to be playing havoc with satellite links during this period.

Full moon + solar particles + Venusian transit = lots of rain, possible large earthquakes....

Sun, 06/03/2012 - 22:28 | 2490624 CvlDobd
CvlDobd's picture

Sounds bullish. I'm gonna go buy some ES. BRB

Sun, 06/03/2012 - 19:59 | 2490261 LeBalance
LeBalance's picture

yes, i guess discussing energy set-up and overriding factors in true circumstances of life is above your envelope of understanding at this point.  But I appreciate SB's information presented above.

did you comment vigorously on all the "my sister earns $$ per hour ... posts?

this is a kind hint about astrology.


you might want to look into it.

Sun, 06/03/2012 - 19:49 | 2490234 A Lunatic
A Lunatic's picture

Do NOT attempt to view this event with the naked eye. Believe it or not the sun will do more damage to your eyes than staring at charts like the one above. Anybody seen my rose colored welders goggles??

Sun, 06/03/2012 - 19:50 | 2490243 scatterbrains
scatterbrains's picture

Some additional thoughts on it's meaning... or not:

Sun, 06/03/2012 - 20:42 | 2490377 Race Car Driver
Race Car Driver's picture

From your link:

"It is like a vulva of time that is opening up so the newborn child can come into this world."


Just sayin'.

Sun, 06/03/2012 - 20:39 | 2490373 El Oregonian
El Oregonian's picture

How transit-dental...

Sun, 06/03/2012 - 19:44 | 2490223 ziggy59
Sun, 06/03/2012 - 19:45 | 2490225 machineh
machineh's picture

Wake me up when it's time to short Treasuries.

Sun, 06/03/2012 - 19:48 | 2490235 gatorengineer
gatorengineer's picture

Wakie wakie, its time to short the treasuries, maybe not today but by the end of the week a tradeable bottom will be in....

Sun, 06/03/2012 - 20:03 | 2490272 Conrad Murray
Conrad Murray's picture

machineh is now known as Rip Van Winkle

Sun, 06/03/2012 - 19:47 | 2490231 besnook
besnook's picture

qe n+1 is near.

Sun, 06/03/2012 - 19:48 | 2490233 mammoth mo
mammoth mo's picture

Futures near negative 100 and dropping...


Printing presses now on alert.

Sun, 06/03/2012 - 20:05 | 2490278 CrashisOptimistic
CrashisOptimistic's picture

TD's phrasing was careful, but the usual yardstick is close Dec 31, 2011, not low of January.

Dec 31, 2011 closed at 1257, a fraction under Dec 31, 2010, also 1257.  2011 was a DOWN year (by that fraction).  We forget that often because of the hype about the LTRO fueled surge post October and out to April.  Despite that surge, 2011 was still down.

Let's hope 2012 is, too.


Sun, 06/03/2012 - 19:49 | 2490238 gatorengineer
gatorengineer's picture

Futures will be green by the morning........  Stick save comming, from the Goldman Suchs euro re-union....

Sun, 06/03/2012 - 20:08 | 2490285 CrashisOptimistic
CrashisOptimistic's picture

It's going to be difficult

Merkel was quoted today saying a really ominous thing.

"UNDER NO CIRCUMSTANCES will I agree to Eurobonds."

That left zero room for rumors to nibble away.  Pretty damn hard core.

Sun, 06/03/2012 - 20:12 | 2490295 johngaltfla
johngaltfla's picture

Probably will be green on QE ? because there's only $4.4 trillion in equity derivatives to worry about in Euroland and the U.S.

Sun, 06/03/2012 - 19:55 | 2490251 fonzannoon
fonzannoon's picture

Gold down slightly. I kind of half expected it to be up another 100 bucks.

Sun, 06/03/2012 - 20:06 | 2490273 franzpick
franzpick's picture

+$100 days are in the near-term cards, when we don't expect them, ala Friday's big jump. Tonight's feature is, so far, no major profit-taking after Friday's $66 leap.

Sun, 06/03/2012 - 20:09 | 2490290 CrashisOptimistic
CrashisOptimistic's picture

In the absence of big, scary events the relentless reality of incrementally grinding deflation asserts itself.  

Big scary events, you would see gold rise.  Day to day grind of reality, gold erosion.

That's what deflation is all about.

Mon, 06/04/2012 - 05:35 | 2490998 Apostate2
Apostate2's picture

Though the mills of God grind slowly, yet they grind exceeding small; Though with patience he stands waiting, with exactness grinds he all.

Sun, 06/03/2012 - 20:01 | 2490266 I am Jobe
I am Jobe's picture

Someone better wake up Benfucking Donkey and Odumba and tell them to start working overnight printing. Nothing else to look forward to. Does this mean Farcebook will sink further?

Sun, 06/03/2012 - 20:02 | 2490269 Caviar Emptor
Caviar Emptor's picture

There's a lot of euphoric optimism still built into prices. Many longs still are counting on invincibility. But some have already jumped 

Sun, 06/03/2012 - 20:05 | 2490280 fonzannoon
fonzannoon's picture

For whatever it's worth I heard there were tons of buyers still coming in Friday. The reality of what is going on still has not truly hit home or they are frontrunning the ecb/fed.

Sun, 06/03/2012 - 20:05 | 2490277 max2205
max2205's picture

I am going to go out on a limb and say we either reverse up Monday or crash.....

Sun, 06/03/2012 - 20:09 | 2490289 fonzannoon
fonzannoon's picture

so you are going out on limbs?

Sun, 06/03/2012 - 20:35 | 2490359 max2205
max2205's picture

Zombie limbs

Sun, 06/03/2012 - 20:06 | 2490282 ziggy59
ziggy59's picture

London is closed for 2 days.. Some sort of jubilation...

Sun, 06/03/2012 - 20:08 | 2490286 Let them eat iPads
Let them eat iPads's picture

The Queen took a succesful dump.


Bank holiday ensues.

Sun, 06/03/2012 - 22:05 | 2490565 TonyCoitus
TonyCoitus's picture

Was it a messy one? Could be in need of more paper! Print away. Bullish.

Sun, 06/03/2012 - 20:09 | 2490288 10044
10044's picture

great, no "paper" gold selling at LME then...

Sun, 06/03/2012 - 20:12 | 2490294 franzpick
franzpick's picture

A jubilee is what the debt-strangled UK needs: cancel all debts, return all property to original owners, back to squire one and start over, on the level playing fields of Eton.

Sun, 06/03/2012 - 20:14 | 2490308 rsnoble
rsnoble's picture

Be leary of "all in short" if the market recaptures the 200 tommorow. A one day event is meaningless, however things certainly do look ripe I admit. Basically the SP was in a bear flag that formed starting the beginning of May. Much like the one last August that was all too obvious of intervention and didn't play out.

The politicians will be fighting everything all the way to the alley. None of these fucking pussies will ever do what's right. If they do it's because there's nothing they are capable of doing to fuck it up even more than it already is and I have a feeling that time is near.

Sun, 06/03/2012 - 20:17 | 2490317 rsnoble
rsnoble's picture

After looking at the futures just now it appear recaptureing the 200 isn't likely lmao. Let it rip.

Sun, 06/03/2012 - 20:18 | 2490320 Crab Cake
Crab Cake's picture

Hmmmm.... Anyone else feel there is an active drive in play to setup conditions for intervention in the middle east, in europe, by the fed, etc...? It feels very off to me, and not in a way that says control has been lost just yet. Bilderberger decisions? Who knows, but my gut says that TPTB are about to play a fist full of trump, but that it will fail.... then we get the real panic and not just in finance/economics.

Sun, 06/03/2012 - 21:30 | 2490492 mtomato2
mtomato2's picture

Honestly?  I'm a bit more leery about the Napolitano Beeatch telling us all to gird our loins for hurricane season...  WTF was THAT all about?  She know God or something?

Sun, 06/03/2012 - 20:28 | 2490340 chump666
chump666's picture

early HFT trades on Asian markets just created bull trap supports.  These machines will cut trades to short very, very soon.  It's all about HK markets (equities), they tank to hell, we might just get a 1987 redux when markets open.

Sun, 06/03/2012 - 20:29 | 2490341 Let them eat iPads
Let them eat iPads's picture

Tokyo, Seoul, Sydney, Auckland all taking a big dump this morning.

Sun, 06/03/2012 - 20:33 | 2490354 zebra
zebra's picture

is PPT invincible?

we will see if they can stop the flood.

Sun, 06/03/2012 - 21:46 | 2490525 Cursive
Cursive's picture


PPT is a dynasty, but all dynasties crumble.

Sun, 06/03/2012 - 20:38 | 2490365 carefreemanjoe
carefreemanjoe's picture

We did'nt have a "thrown in the towel and give up" kind of selling on Friday, which possibly means more downside tomorrow.

Sun, 06/03/2012 - 20:38 | 2490366 carefreemanjoe
carefreemanjoe's picture

We did'nt have a "thrown in the towel and give up" kind of selling on Friday, which possibly means more downside tomorrow.

Sun, 06/03/2012 - 20:41 | 2490367 carefreemanjoe
carefreemanjoe's picture

Futures indicating further downward momentum.

Sun, 06/03/2012 - 20:48 | 2490393 rsnoble
rsnoble's picture

Despite my market rumblings in 2 other posts here.......don't forget that if there is going to be FED or ECB intervention it's coming soon. This shits ready to fly apart and isn't going to wait till the next Fed meeting to do so. Things would be so much easier without a bunch of fucking morons who can create shit out of thin air. And shit would be the right word.

Sun, 06/03/2012 - 21:33 | 2490499 mtomato2
mtomato2's picture

Beautifully stated.

Sun, 06/03/2012 - 20:49 | 2490397 booboo
booboo's picture

Is Maria Bartiroma dry heaving yet?

Sun, 06/03/2012 - 22:15 | 2490601 azzhatter
azzhatter's picture

she gave me the dry heaves but that's normal

Sun, 06/03/2012 - 20:58 | 2490428 monopoly
monopoly's picture

I don't think it will be out stock market that will bring the "intelligent Fed" to center stage. For now, Europe is upstaging us and will take center stage, or better yet center ring. They will announce some coordinated action to prop up Spanish banks, etc. But of course it will help our markets for a few days. Emphasis on a few days.

None of this is working, isn't there anyone in politics with an IQ over 50 besides RP?

Sun, 06/03/2012 - 21:57 | 2490545 digalert
digalert's picture

Wow, CNBS has got weekday crew in on Sunday night...

got to get the pep rally started!

Sun, 06/03/2012 - 22:00 | 2490551 Stock Tips Inve...
Stock Tips Investment's picture

Bernanke's plan requires that the price of financial assets are maintained at a high level. This generates more "wealth" in a good part of the population, which begins to "spend more" and therefore helps to move the economy, generate more employment and more economic activity. One of the problems encountered this "plan" is that the price of commodities is growing very fast. I have the impression that the Fed, the ECB and Bank of Japan, are trying to "lower" the price of commodities (mainly oil and industrial commodities). This would help to improve the spending power of people. Will be successful? I think it's a very risky bet.

Mon, 06/04/2012 - 01:30 | 2490876 Things that go bump
Things that go bump's picture

Magic 8 ball online says "Ask again later."

Sun, 06/03/2012 - 22:03 | 2490560 Ineverslice
Ineverslice's picture

Oil still getting creamed. At what price does Bakken Shale stop hiring?

Sun, 06/03/2012 - 22:12 | 2490587 CrashisOptimistic
CrashisOptimistic's picture

Not really relevant.  Oil extraction rate globally will not support a 7 billion person planet trying to grow economically.

When consumption falls, so does price, and it tells you nothing about extraction (from the ground) rate.

All you really need to understand is there is not enough, and that's forever.

No more growth.  It's all downhill from here.

Sun, 06/03/2012 - 23:55 | 2490763 sun tzu
sun tzu's picture

They said the same thing in the 1920's. The economy isn't crashing because of oil. 

Sun, 06/03/2012 - 22:55 | 2490666 Crab Cake
Crab Cake's picture

At what oil price will middle east intervention, syria/iran, be a go?

Sun, 06/03/2012 - 22:09 | 2490566 Earl of Chiswick
Earl of Chiswick's picture



if we are in Japan we are off the 1983 lows on the TOPIX and going lower

yes 1983 Billie Jean ---  that would be 30 (thirty) fluking years ago

let's dance

Sun, 06/03/2012 - 22:07 | 2490574 Paul Thomason
Paul Thomason's picture

It doesn't look good, check this article out! - 'Best Stock Market Indicator Ever Tanks Further!'

Sun, 06/03/2012 - 22:23 | 2490612 orangegeek
orangegeek's picture

SP500 Weekly under elliott wave count looks a bit different.

Sun, 06/03/2012 - 23:20 | 2490713 Let The Wurlitz...
Let The Wurlitzer Play's picture

Possible senario:  Look for a three wave rally to start within the next day or two.  The rally should end at about 1350 and test the underside of the 50DMA.  If the 50DMA holds as resitance WATCH OUT - sell calls, buy puts and run for the hills.  Good luck.  Disclaimer: I am NOT offering investing advice and anyone that trades on this information is an idiot.


Sun, 06/03/2012 - 23:28 | 2490726 adhoc99
adhoc99's picture

Staggered out of the money S&P and CAT puts, GLD calls. Perfectly positioned for whatever may come, at least in the short to intermediate team. Screen was lit up green on Friday, expecting more of it this week and the coming weeks.

Sun, 06/03/2012 - 23:35 | 2490736 chump666
chump666's picture

HK needs a neg 3%, Sydney  -2% and Shanghai - 2%

selling is slowing down.

Mon, 06/04/2012 - 01:42 | 2490893 chump666
chump666's picture

Asia is bouncing, FX risk crosses up. bear trap is in.  doomsday sell off might just be delayed...for a little while.

Mon, 06/04/2012 - 00:00 | 2490779 Conman
Conman's picture

Looks lik cnbc will get a chance to say " stocks are off their lows" Tomorrow.

Mon, 06/04/2012 - 02:35 | 2490917 cnhedge2
cnhedge2's picture

Is the Euro Ending or Beginning?

Mon, 06/04/2012 - 07:09 | 2491053 Tom Green Swedish
Tom Green Swedish's picture

If anything points to the downfall of the USA its NAFTA and Mexico.  Opened the door for China. Worst decision ever made by a president.  Even Hillary admitted it was stupid.  We have bled manufacturing jobs because of this stupid plan (some 3.5 million jobs).


Part 2.  Everybody in the USA was so smart and had to go to college because we shouldn't do manufacturing work.  Fast forward to now. Student Debt 1 trillion is a huge bubble.  Total Blunder.


I studied manufacturing / logistics in college only to find no opportunities except with plants full of mexicans, and no opportunities.  Lets face it even Henry Ford didn't create Ford until after he worked for Edison.  Thanks for destroying my future Bill (what am I supposed to do now? Make a facebook internet page?).


The proof is in the pudding. MEXBOL up 25 percent since 2007. S&P Down 16 percent.

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