If you’re looking for a scapegoat, go ahead and blame the Fed. There inability to calm markets is indicative of the type of leader Janet Yellen is. She will go down as the worst Federal Reserve chief in the history of the United States. She’s permitted her band of moronic Fed governors run ragged across America, giving one submental speech after the next, praising the virtues of JACKING UP INTEREST RATES INTO THE FUCKING TEETH OF A CATACLYSMIC DECLINE!
Asshats!
Breadth is at 93% to the downside. The median loss for the oil and gas sector is nearing 8%, FOR THE DAY. Solar is down 7%, tankers 7%, REITs -6%, Biotech -6%.
Because of the downside moves in oil and gas stocks, debt/equity levels have soared, pushing the levels of distressed debt to $330 billion. Moreover, the second layer of fucked companies, just behind that 330 billion, whose debt to equity levels are between 2-5, now have $390 billion in debt. All in all, we have ourselves a grand olde fashioned crisis. Don’t listen to what the Fed guys are saying. These chickens are coming home to roost. Banks will need to write these loans down and soon.
2nd tier of fucked oil companies
Brent is now below $29.
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CATACLYSMIC DECLINE?
The S&P is ~13% off all-time highs.
GO FUCK YOURSELF
haha ur funny when you curse in caps
This is all by design. The FED didn’t make a mistake. It’s all going according to plan…THEIR PLAN.
BEST YEAR EVER, boy I love 2016. Cocaine Addicted Bulls finally have to face the big ugly bubble they created. I am really surprised that all the talking heads are missing even the bigger picture, mainly, it is not just Dudley….but Draghi and Kuroda were out yesterday and last night saying no cocaine this month. SPX 1755ish here we come.
no good trader or investor is a perma bull or a perma bear.
If you’ve been bearish these past years, you’ve lost money.
You have to update your position as the evidence suggests.
Also,
Wonder where one eyed Alf is.
Siegel, I am not a Permabear, I just decided to study a bubble from it’s creation to it’s destruction. Next Bubble I am going to ride like the wind up. Last Year was actually an up year for me. IMHO China and Central Bankers started a Copper/Commodity bubble in 2009 when they came in buying way past actual demand on hopes for inflation and using it for Collateral for other investments. This caused Miners and Drillers to over produce due to this false demand. Bubbles always Pop, I just thought in 2009 that everyone would stop it from getting so ugly. Lesson I learned, nobody sees bubbles until they Pop, at that point everyone claim they have seen them since the start. Big Money moves REALLY slow.
you are a F****ing psychopath who takes absolute delight when people lose $$$
(real money)
I understand you don’t know what that feels like from your 200 square foot LA shithole that you live in
what bubble are you going to ride like the wind?
That implies you have $$$ in the game which you never had
A New Bubble hasn’t started because this bubble hasn’t fallen apart yet. On every trade a person gains or looses money, it’s just now the bulls are dropping money. I do have money in game, a lot less since 2007, not sure why everyone assumes I don’t? Also, I am so not a Tiny House Movement Member…like the show though.
No i’m the one who takes delight from you being pissed off that you others and you yourself are losing your nest, your toil, your stash. especially when the circumstances that caused it to you more than completely directly allowed right in front of your ripped off face. in the first place. the unwind. the cycles. with boom. comes. bust
The illuminati has engineered this decline in order to buy up the margin calls of heretofore big swinging-dicked hedge fund heir-apparents
ha! too funny
http://www.prisonplanet.com/emergency-economic-collapse-is-by-design.html
1867 line in the sand,
but truly,… i think we break &
go
lower
air,..
to 1755
yea… it doesn’t usually work just like that
@the wolf, From your Lips to Gods ear. IMHO lol, I still can’t believe that the market ever went over with 1755. At 1755 we were ending QE and Miners were about to release a Massive Glut of Materials on the Global Market.
http://www.hollywoodreporter.com/news/dan-haggerty-dead-grizzly-adams-820154?utm_source=twitter
Dan Grizzled bear Haggerty passes away … his relatives have emerged from their hibernations and are pissed
To be fair to Yellen, the chair before her used up all the parlor tricks before she got the reigns. Bernanke made a mess that hadn’t as yet come crashing down yet, and realizing this smartly declared victory, and then abandoned the field for Janet to take the fall for all his accommodation.
All cranking the rates to zero or negative (or more QE) will do is provide the opportunity for one final blow off top, which would would then mean things collapse even more completely. I think many here know this, and are ok with it as long as they could cash in on the blow off top, right…
Utter nonsense. The ONLY reason why we’re tanking is due to Fed tightening.
True. The Fed knows it is doing this.
I don’t know why for sure. But I wouldn’t be surprised if it is to help the 1000 or so bankers who are members of the Federal Reserve system. Higher interest rates will help them to make more money on everyone’s credit card loans & other loans. Plus perhaps the bankers in the Fed system were given advance warning and have been long put options since last year and are awaiting the signal to go long call options and to wait for some target price.
I wonder why people are so upset with bankers. I can’t imagine, can you?
Agreed but what would have happened if they never tightened?
Metalleg, if they had not tightened, perhaps we would have had a longer slower decline. And perhaps they wanted a fast sharp decline for some reason. Why would the Fed desire a quick sharp decline, rather than a long slow one? Just for the advantage of large fast profits on put options that people with insider information have? So that they could then make large fast profits on call options, once they get the signal to go long? So that it would almost be forgotten by the time the election rolls around?
Oh, here’s a unique theory. They are afraid of multiple wars with China and who knows who else, if Trump becomes president. They know that in good times people get complacent and vote for someone who is totally unfit for the job of president. But in bad times, people get depressed and worried about things that happen in the real world, so they are more hesitant to vote for someone like that.
Given what’s been going on in the world around us, and the over-valuation of stocks on average, we couldn’t have escaped the decline perhaps. Perhaps it was just a matter of the time it took for it to happen.
If the decline were still going on at the time of the election, then Bernie might win. And the Powers That Be do not want him, any more than they want Trump.
punchbowl-removal hangover
what a party it twas!
Ecb : “dont see more at this time”
Boj : “could mess up our finances”
Fed : “suck our rates”
YOU WERE HAD
yet still dementedly point to bernanke
hanging on the wall
I suppose there are numerous other reasons why the Fed– or anyone– might want this decline to happen quickly rather than slowly. It certainly limits the time that people are disillusioned about the stock market and hesitant to buy stocks from their brokers, so it will help the brokerage business. Once it’s over, everyone will want to buy low. Of course, people may think it’s over before it’s over.
Of course being a piker , I’m heavy banks and insurance cos. Pure fucking genius.
ho hum. i wasn’t going to look but it isn’t that bad. watching 1872 for a higher closing low.
Yup. Brutal.
new lows 1491
new highs 16
Some folks get drunk on power, they are not leaders and just throw levers because they can.
Yellen may be that type of person.
Long way to November….
Ever try to drive forward by looking in the rear view mirror? I think that’s what the Fed is doing.
Damn, these -4% days really bring out the bedlamites.
The captain has turned off the seat belt sign, the storm is over, feel free to buy.
I went all in when the DOW was around $7000 in 2009 and just let everything melt up. No trading, just waiting and adding, until last summer. I moved it all into OGVXX. Now considering a Devildog t-shirt, but haven’t decided yet.