Dow Dumps 200 Points From Pre-Market Melt-Up Highs As XIV Sinks

Seriously...

Dow futures are now down almost 200 points from their pre-market highs as the XIV ramp into the open fades...

 

And Nasdaq's (green below) panic-bid evaporates as Dow (blue) and S&P (red) tumble...

 

Did the bond yield spike spook stocks? Or was it simply pure manipulation into the bell?

Comments

Stan522 Justin Case Thu, 02/08/2018 - 09:48 Permalink

The problem with articles like this is once to author writes out the gloomy picture (snapshot), the market will rebound and this means nothing. The crazy fluctuations we see are caused by computer algorithms that auto-buy and sell  thus causing the market to go nuts which just screws your average investor trying to survive....

In reply to by Justin Case

Silver Savior Thu, 02/08/2018 - 09:55 Permalink

Gotta get all that money out of the stock market and into crypto for the real gains. I can see the momentum building for crypto but see nothing for the stock market. 

Money does not disappear it transfers. Maybe we are on the cusp of the great transfer of wealth from traditional paper assets to digital currencies and precious metals. 

california chrome Thu, 02/08/2018 - 11:19 Permalink

Dow -450:

nice orderly decline on the ES.

ES should really go down a little more to 2628 -- 50% Fibonacci Retracement from Feb 5 low of 2529 to yesterday's high.

That would be uber-orderly, but looks like low was hit for now.

 

Edited: 9:30 PST 50% Fib target hit!