Tech Stocks Are Tanking, Banks Panic-Bid

After an exuberant overnight session - ignoring the slump in USDJPY and bond yields - the US cash session open appears to have triggered a wave of selling (especially in tech stocks)...

Nasdaq is getting whacked at the open...


Bank stocks are bid once again - back to pre-FOMC Minutes levels - as Tech rolls over...


The S&P is back to unchanged...


As VIX spikes back above 10...


And as a reminder, yesterday's open was the opposite - a panic-bid...


silverer Tue, 09/19/2017 - 09:48 Permalink

Everybody has been told and has been waiting for the specific "black swan" for months. Wouldn't it be ironic if the markets dropped 40%, but nobody could point to any specific reason why, even after studying it for months? We'll call it "undefinable decentralized loss of confidence".

Manthong silverer Tue, 09/19/2017 - 09:59 Permalink

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Oops.. time for the CB ‘s in Israel and Switzerland to  step up to the plate again. And it’s time for the BIS to short gold.

In reply to by silverer

CPL silverer Tue, 09/19/2017 - 10:10 Permalink

In an inflationary environment, the pressure caused by the exponential multiplier of central bank printing kills all R&D across all sectors since all R&D is always on a fixed budget allocation over a 2 to 4 year cycle of development.  With no one watching inflation or announcing real inflation, all that work simply runs out of steam. 

In reply to by silverer

CPL Tue, 09/19/2017 - 09:51 Permalink

All your tools, toys, medicine, cars, fuel, and all the things technology bring are all going bye-bye.  I'm incredibly bullish on clobbers, tailors, smithy's, walking, horses and following the herd for sustenance.  You are all about to get knocked back to the stone age.

kavabanga Tue, 09/19/2017 - 10:10 Permalink

DOW and NASDAQ Cycles, whats next?If the markets move in seven year cycles, then there are two ways of looking at the present manifestation. First, the Bubble of 2014 was not sufficiently burst, and a collapse is imminent. Second, there was a sufficient correction in 2014, and we will continue in a Bull Market until 2021. It is likely that world-wide policies of Quantitative Easing and Low Central Bank Interest Rates, as well as political events, kept cash liquid and the markets unnaturally buoyant and that the Bubble of 2014, unnaturally extended, is about to burst now.…

Solio Tue, 09/19/2017 - 10:20 Permalink

History has been shown to be a series of genocidal bloodbaths with the lower end of the demographic suffering very badly while the