This report was originally published by Tyler Durden at Zero Hedge
Aaaaaand, it’s gone!
Global capital markets are down five weeks in a row, losing just under $9 trillion – the biggest, fastest drop since Lehman… (around $8.2 trillion from global equity markets)
Chinese stocks managed to end the week green thanks to numerous National Team interventions…
European stocks ended the week red (down 4 of the last 5 weeks) to the lowest since Dec 2016… with DAX worst of all (worse than Italy)…
European banks were ugly led by Deutsche…
US Equity markets closed the week in the red for the year (but the rest of the world also continued to collapse)…
Buy the dip and sell the rip…all major US equity indices red on the week…
Another ugly open, immediate ramp fest and puke…
Futures show the complete picture of chaotic lower highs and lower lows…Octoberfest… was full of dead cats
The S&P 500 had dropped 15 times this month. That was the most for a full month since October 2008, when the world’s biggest central banks cut interest rates and U.S. money-market funds got a bailout.
It’s been ugly:
- Dow down 9% from record high (down 4 of last 5 weeks)
- S&P down 10.1% from record high (down 4 of last 5 weeks)
- Nasdaq down 13% from record high (down 4 weeks in a row)
- Dow Transports down 15.2% from record high (down 6 weeks in a row)
- Small Caps down 15.8% from record high (down 6 weeks in a row)
With all the major US equity indices languishing below their 200DMA…
Only Nasdaq remains green for 2018…
VIX term structure remains inverted for the 15th day and unusually has re-accelerated without normalizing)…
Global Systemically Important Banks had their worst week since March, tumbling for the 5th week in a row to the lowest since Nov 2016…down 30% from their highs…
FANG Stocks were hammered, worst week since March (down 4 weeks in a row) down 20% from their highs…
- FB -33% from highs (well below 200DMA)
- AMZN -19.75% from highs (closing below its 200DMA)
- NFLX -28.8% from highs (closing below its 200DMA)
- GOOGL -16.4% from highs (closing below its 200DMA)
Financials are f**ked…erasing all the gains since Trump was elected…
Biotech bust with the worst week since April 2016 (down 4 weeks in a row) and down 15.4% from the highs…
Semis slumped 6% on the week (5th weekly drop in a row) to lowest since Sept 2017 and are down 21% from their highs…
Homebuilders hemorrhaged…
We note that the tech/financials relationship with Treasuries remains broken…
Treasury yields tumbled today (led the belly again) as there has been a notable decoupling between the long-end (underperforming) and the belly (5s and 7s)
This dramatically steepened the yield curve (5s30s steepest since April 2018)..
HY Bonds puked this week…
The dollar surged for the 4th week in the last 5 (despite a big reversal today), closing at its highest since May 2017…
PMs managed modest gains on the week, despite dollar’s gains, as copper and crude slumped…
Gold rose for the 4th week in a row…
Finally, we leave you with this little beauty from Deutsche Bank…
Let’s hope it’s different this time!!
However, the last word goes to Glusdkin Sheff’s David Rosenberg…
Go ahead, blame Powell. Don't tell anyone that foreign buying of Treasury debt has been cut in half this year and keep it a secret that the dollar share of world FX reserves has shrunk to a 5-year low of 62.5%. The USD role as the reserve currency is on its last legs.
— David Rosenberg (@EconguyRosie) October 24, 2018
Let the carnage begin.
So?
In 6 days I’m going to get some private pension checks.
According to their yearly reports they are close to 100%
funded by some really solid assets, I’d
bet on US treasury, 3M, Boeing, or Lockheed-Martin
bonds over Facebook anyday.
From my experience with dealing with the Chinese, Dollar will survive.
Let it all crash!
I got out of the market before the dust up in 2008 and I will never go back because I don’y play rigged games of chance. Everyone thinks the market is making them rich. Well it ain’t real until it’s in your pocket.
We will see who walks out of the Casino with anything left of value!
Missed out on doubling your money eh?
You’re correct – you shouldn’t be investing.
Stuart,
Good call, place and bet.
I’m a horrible gambler, I’m pretty
good at Chess.
I tend to stay with something I can control.
I retired at age 55.
You still working for an a$$hole?
Just curious.
You’re right. I used to work for the SEC and once you know how the sausage is made you’ll never eat it again!
I left the Wall street casino after the Dot Com Blow up in 2001-3. Its all a rigged big fat pizza pie, full of BS. Fundamentals mean nothing. Stock buy backs are not an indicator of increased profit margins. Bad Management, and all quarterly reports are lies. Padding the books, change in accounting methods, hype, Free cheap money, to dilute the profit margins. Its nonsense. All accounting gimmicks.
So Pigs get slaughtered. Its their blood that will be spilling. Buyer beware.
Trump called it a Big Fat Ugly Bubble.
rellik, I was not directing any comment towards you. It was a mistake to post in response to your comment. I was just making a general observation.
Justice,
No offense taken.
Your comment was well taken.
@johnsteiner
THE PEA AND WHEAT CROPS THE PILGRIMS BROUGHT OVER FROM ENGLAND FAILED
THE WAMPANOAG AND THE PILGRIMS HAD A MUTUAL AID AGREEMENT
THEY WERE ALLIED AGAINST THE NARRAGANSETT THE MASSACHUSETTS THE DUTCH AND THE FRENCH
SQUANTO WAS THE LAST OF HIS TRIBE WHO HAD ALL BEEN KILLED BY THE NARRAGANSETT IN A SURPRISE ATTACK. SQUANTO HAD BEEN CHRISTIANIZED AND SPOKE ENGLISH BEFORE THE PILGRIMS ARRIVED. HE WAS ALLOWED TO WORSHIP WITH THE PILGRIMS AND LIVE IN THE PLYMOUTH COLONY. IN EXCHANGE HE TAUGHT THE PILGRIMS ABOUT CORN MAPLE SYRUP DEER HUNTING EEL TRAPPING AND FISHING.
THE FIRST THANKSGIVING WAS HELD IN OCTOBER WITH 90 WAMPANOAG BRAVES.
WHEN SQUANTO DIED ALL HOPES OF PEACE WITH THE RED MAN DIED WITH HIM.
WITHOUT SQUANTO THE PILGRIMS WOULD HAVE DIED. WELL OVER HALF OF THEM DIED THE FIRST YEAR FROM STARVATION AND DISEASE.
THE PILGRIMS THE PURITANS AND THE QUAKERS WERE DIFFERENT TRIBES THAT HATED TORTURED AND EXECUTED EACH OTHER
I would categorize people in north spain as white and people in south spain as non white.
To boost the French population, Cardinal Richelieu issued an act declaring that Indians converted to Catholicism were considered as “natural Frenchmen” by the Ordonnance of 1627:
“The descendants of the French who are accustomed to this country [New France], together with all the Indians who will be brought to the knowledge of the faith and will profess it, shall be deemed and renowned natural Frenchmen, and as such may come to live in France when they want, and acquire, donate, and succeed and accept donations and legacies, just as true French subjects, without being required to take no letters of declaration of naturalization.”
JUST INVITE THE REDSKINS IN TO FUCK YOUR DAUGHTERS AND TAKE YOUR SILVERWARE WHILE YOURE AT IT
Who thinks this is the start of the big one?
https://www.youtube.com/watch?v=stdi-1tIUhM
More fearporn. The markets have not collapsed. The sky is not falling, it’s just rainy.
I hate it when the sky falls…
When gold and silver sky rocket, then i will wake up.
When PM’s skyrocket …I will sell my physical holdings and convert to a falling real estate market in bare land
Yes, that will be the day.
Infidel;
I agree. Be warned, any praise of the equities markets will be taken badly here. I’m sure glad that we didn’t take all of our holdings and convert to something to bury in the back yard in 2009. If all your stuff is paid for there is nothing wrong with investing sensibly, especially in dividend paying stocks.
Gold has been one of the best investments over the past several years if you account for inflation. Only idiots who don’t understand inflation discount it.
One of the few good equities advises I have
read on this site.
Always deal with solid producers.
I invest in Tbills. We are all stupid enough
to pay our taxes, by law US debt gets paid
before anything else. Interest earned is not
taxable by states.
Whether or not financial markets rise fall or remain the same, those with knowledge and skills will always do better than the ignorant dependent man or woman.
Check out the “Primitive Survival” Videos. See “building a water filtration system”.
I bet these fellas aren’t sweating over financial manipulations.
_
It may seem like a bloodbath but it’s still up around 300% from 2009.
Nothing has “collapsed”. This site is getting worse than National Enquirer. So f*cking shallow.
Once again: Market at all time high by Christmas.
There will be a major correction when Democrats take the house.
They refer to the CEO’s of the top five companies, Google, Amazon, Twitter etc as the masters of the universe.
They have been tanking their own stocks, to overturn the election. It is a fraud.
Let them run their stocks into the dirt, then buy them low. Suck them dry preppers.
And it’s GONE!!!!!!
https://www.youtube.com/watch?v=TGwZVGKG30s
$8-trillion is nothing. There is over $200-Trillion in global debt just waiting to pop.
I surprised you don’t blame the Tariffs for the stock market woes?
I’m with Stuart. New highs coming later this year. This is a long-overdue correction, and will likely last two more weeks. I trade the markets, so I am not just spouting off. For predictive price modeling, check out thetechnicaltraders.com
I have literally — no exaggeration — seen a paid speaker shout newspaper headlines, while holding the newspaper in his hand.
People apparently get some kind of an adrenaline rush (sexual masochists) when they are yelled at.
There is an inverse relationship, between trading and interest rates.
Change the sub heading to Aaaaannnd it’s not gone. Fear and dread. Or better yet a false flag. What reason? Who cares. The economy isn’t going to tube. Yes it goes up and down but a decade of this fear is silly.
I suspect they will kick the can down the road further before it all comes apart. It’s been a regular approach over the last few years. Still, stay ready. Keep backup plans in place.
South Park – And it’s gone!
https://www.youtube.com/watch?v=E6nNwnG7WP4
Hello you Yankee bastards! lol. Would you like to join me on an English seashore?
Just type in… Polzeath Beach HD Webcam on YouTube – The fish & chips are on me. enjoy!
It’s Sunday am and I just came from zerohedge. There is an article about what is wrong with the USA. they took some sort of poll. Something like 80% of Americans were saying,(in the poll), that major problem was education. I’m sure you have all seen examples of 8th grade exams from the early 1900’s. Either we are all stupid or the education in USA is so pitiful that today’s college grads are not as well educated as their great grandparents with a grade school education.
Anon,
Perhaps because I have worked closely with University professors, and Astro-physics Post doctoral people, I have a little different view of the educational system. People with a STEM degree have to be sharp as tacks or we don’t have a job or position. We can also discuss “Sfumato” an art term, the poetry of Homer, or Machiavelli’s letters with the best of Non-STEM people.
Most non STEM degreed people are dumb as posts and merely recite what was memorized. They got those degrees because they were easy to get. They were awarded those degrees because of their race or sex.
What is wrong with America is Liberal Democrats.
What is hard in American schools is to be a critical
thinker.
Anon, today’s high school graduates and college students are total libturd-trained shitheads. Hey everyone, I’m back at the BOL for a month of fun. Just came in from the range.
I think before your month at BOL expires, the markets will expire as well.
Rolex, you might be right. My biggest reason for being here is Election Day. If the left goes ‘full retard’ on election night at least I’m already where I need to be.
Anyone know how to get a rusted on front wheel hub off a Honda Civic? Anyone? Anyone?
“Tap the axle out with a hammer” sure. Right. On day 1, fresh off the assembly line maybe.
8 trillion, a minor correction. Wait till the real bloodbath begins!