ECON THE BREXIT STOCK MASSACRE CONTINUES 6-26-2016, S&P Below 2,000

Doomer Doug

Has No Life - Lives on TB
:siren:

The Dow Jones lost 600 points on Friday. Futures now show Monday will be another massacre. I saw somewhere that the richest 400 globalists have lost $127 BILLION since the Brexit vote.


http://www.zerohedge.com/news/2016-06-26/dow-futures-plunge-open-below-fridays-crash-lows

US equity futures are tumbling at the open following Cable and USDJPY's dive. Dow futures dropped 100 points (down 900 points from pre-Brexit highs) and broke below Friday's early crash lows...
 

Ben Sunday

Has No Life - Lives on TB
Just moments ago, Futures had the Dow off -95 points, the S&P off -19 points and the Nikkei showing a positive open.

The markets may well turn into a roadkill buffet later tonight but for now I don't see any systemic crashes or convulsions.

Naturally, I reserve the right to be wrong. :shr:
 

ElevenO

Veteran Member
Just moments ago, Futures had the Dow off -95 points, the S&P off -19 points and the Nikkei showing a positive open.

The markets may well turn into a roadkill buffet later tonight but for now I don't see any systemic crashes or convulsions.

Naturally, I reserve the right to be wrong. :shr:



History may ultimately prove me wrong but I don't think we'll have one, gigantic, crash but, instead, we'll just have a "rolling descent" that continues to slide further and further down each quarter and each year.
 

Warm Wisconsin

Easy as 3.141592653589..
The only thing that I'm following that is trading outside the box is US treasuries. The yeilds on 2 year bonds are down 12% and 10year 6%. That means more money is heading to safe zones than there is space for the money.
 

BornFree

Came This Far
This is all hype. The Dow has been 2000 points lower than it is now in this very year. Go look it up.
 

Doomer Doug

Has No Life - Lives on TB
The PPT is going to be going all out. Friday was a panic attack. The key loss is not points but percentages. 600 points out of 18,000 is 3 percent. The 1987 one was only 500 points, but roughly 20 percent of total value at the time.

We are going to go down 2 to 5 percent at a time in my opinion. The market is rigged. The Federal Reserve will pump TARP money into it. The Bank of Japan will do the same.

They can delay what is going to happen. They will not be able to stop. The trigger event will be in the DERIVATIVE MULTIPLE TRILLIONS ARE EXPOSED.

The DOW only has 30 stocks that set the close. It is easy for the Fed to manipulate them with a few million here and there. China also just devalued their Yaun currency, which is a bigger story.

The economy's globalist fantasy was shattered by Brexit. It will take some time to work all that out. Still, all the EU mooch countries just got the message the British and Northern European EU debt based gravy train derailed. It has always been about the debt. Brexit calls into question the debt. This is why it is fatal.
 

LightEcho

Veteran Member
Here is my take. The stock market is purely a financial shell game run by the banksters. They are pissed off by the EU Brexit vote and want to put fear in the minds of the people. They will make the market appear to be crashing while there are $trillions waiting to swoop in and rescue the falling fake market. They control every move up or down. What happens will be for their reason. What are they trying to force into reality? Then you will know what they will do.
 

2x2

Veteran Member
Eurozone trading opens at 3:00 am. This should set the tone of the markets. This could take a few days to settle out.
 

ainitfunny

TB Fanatic
wow: http://www.foxbusiness.com/markets/2016/06/24/u-s-equity-futures-plunge-as-britain-votes-to-leave-eu.html
[excerpt]Britain's big banks took a (one day)$130 billion battering with Lloyds and Barclays plunging as much as 30 percent. EMINI S&P 500 futures were down 4 percent and Japan's Nikkei ended down 7.9 percent.

The British pound collapsed no less than 18 U.S. cents, easily the biggest fall in living memory, to hit its lowest since 1985. The euro in turn slid 3.2 percent to $1.1012 as investors feared for its very future.

Having campaigned to keep the country in the EU, British Prime Minister David Cameron confirmed he would step down.
 

Doomer Doug

Has No Life - Lives on TB
I think the BOJ is already pouring money in to keep the Nikkei stable. I am sure we will see a coherent central bank effort to prop up global stock markets today for psychop purposes. They may be able to keep things under control for a while, but the genie is out of the bottle. They are trying to buy time to unwind things.

It really comes down to the Trillions of dollars worth of derivatives. The English banks getting crushed Friday has likely put severe strain on the global derivatives market. This is what Soros is talking about. The man is evil, but he knows how to play the game.
 

bosifus

There can be only one.
Im not sure why US markets would remain down. The British exit from the EU will strengthen US markets. Uncertainty I am sure is the cause but I just can't see things staying that way very long. Good buy in opportunity if trading is your thing.

I don't see US markets tanking until after Trump has taken office but maybe they will beforehand when it becomes undeniable what is coming down the pipe. Until then they will remain artificially propped up just like they have the last 8 years. Eventually when the globalists know their cat is skinned they will retaliate and markets will take a significant dive to punish everyone.
 

bw

Fringe Ranger
Eventually when the globalists know their cat is skinned they will retaliate and markets will take a significant dive to punish everyone.
No, nobody makes the market tank to punish anyone. The market manipulations go up and down either to make a profit or to send a message. Punishing - tit for tat for some past behavior - is totally irrelevant. If the markets move to send a message, it's because it's the future behavior that is being targeted.
 

Dosadi

Brown Coat
Don't wanna be ugly, but how many times has jgf predicted the end of the ****** and and been right?

Kinda makes me feel better if he predicts it.

Course even a broken clock is right twice a day


Meh I could care less if all the oligarchs banksters and terrorcrats go broke.
 

bosifus

There can be only one.
No, nobody makes the market tank to punish anyone. The market manipulations go up and down either to make a profit or to send a message. Punishing - tit for tat for some past behavior - is totally irrelevant. If the markets move to send a message, it's because it's the future behavior that is being targeted.
Right, punishing for some perceived future behavior. What's the difference?
 

Hansa44

Justine Case
No, nobody makes the market tank to punish anyone. The market manipulations go up and down either to make a profit or to send a message. Punishing - tit for tat for some past behavior - is totally irrelevant. If the markets move to send a message, it's because it's the future behavior that is being targeted.



Right now the Dow is -60

http://www.finviz.com/futures.ashx
 

Stormy

Veteran Member
Don't wanna be ugly, but how many times has jgf predicted the end of the ****** and and been right?

Kinda makes me feel better if he predicts it.

Course even a broken clock is right twice a day


Meh I could care less if all the oligarchs banksters and terrorcrats go broke.
Exactly. JGF predicted a market crash last September. Big Nothing-Burger.
 

cooter

cantankerous old coot
cant help but say,

we watch this panic bs, and the wailing, but for us little people, I have not seen anything change, the price of gas, milk is still the same, most everything is still the same cept for the digital bs called stocks, :confused:

some days I just don't get it, why cant Britain do like Iceland did?, and work on new trade deals with America or who ever, with out the EU telling them how to do everything:confused:
 

Melodi

Disaster Cat
-610 was the dow's closing number at the end of business on friday. The dow futures now are still down but they're only down around 95 points as 6:28 am this morning.
The Powers that Be know that the "average" American (aka no one probably on this forum) only pay a vague attention to gross Dow Jones numbers as they go up or down; so it is in their interest to throw everything they can at them to keep them "up" as long as possible.

They honestly can't do that forever, but they can give it a good old college try for a fairly long run; never mind that two of the largest banks in the UK (HSB and RBS) were legally forced to halt trading a couple of hours ago because their stock was in free fall; never mind that something like 2 billion has been wiped off the "wealth map" over a weekend; as long as those "Dow Jones" numbers don't look "too bad," a lot of people hardly notice.

At least not until things trickle down to more corporate bankruptcies, job losses, inflation/deflation etc...
 

Adino

paradigm shaper
No, nobody makes the market tank to punish anyone. The market manipulations go up and down either to make a profit or to send a message. Punishing - tit for tat for some past behavior - is totally irrelevant. If the markets move to send a message, it's because it's the future behavior that is being targeted.
Tell that to the Russians who saw the US and saudis push their economy's engine oil smashed down to $35 a barrel.
 

2x2

Veteran Member
No sign yet that the "PPT" is playing their game yet so the above stocks are looking to open GAP down as the raiders continue to wreak havoc on them.
Meanwhile the counter plays to the above should continue to run for awhile. If or when the eurozone stabilizes, look for a reversal of the two. Might be inter-day trades or next day or two, depending on the news.

These are looking to open GAP up.

http://finance.yahoo.com/quotes/F.I.,^DJI,^IXIC,^GSPC,ERY,DRIP,NUGT,JNUG,MIDZ,TZA,FAZ,TECS,SOXS,SPXS,YANG
 

ElevenO

Veteran Member
A few minutes into today's trading and the dow is already down almost 200 points while the S&P is down around 22 points and the nasdaq is down close to 50 points.
 

FREEBIRD

Has No Life - Lives on TB
"Here is my take. The stock market is purely a financial shell game run by the banksters. They are pissed off by the EU Brexit vote and want to put fear in the minds of the people. They will make the market appear to be crashing while there are $trillions waiting to swoop in and rescue the falling fake market. They control every move up or down. What happens will be for their reason. What are they trying to force into reality? Then you will know what they will do."

THIS^^^^

The control of the market is to drive the behavior of governments, investors, etc.

And as a side note, were a meteor (not metaphorical) to strike the NYSE or the London financial district, it would be blamed on Brexit.
 

Red Baron

Paleo-Conservative
_______________
The DOW is still looking for a bottom. Falling at a steady rate after the initial opening plunge.

The DOW is -1% negative for the entire year.

http://finance.yahoo.com/echarts?s=%5EDJI+Interactive#{"range":"1d","allowChartStacking":true}
 

Attachments

alchemike

Veteran Member
The PPT is going to be going all out. Friday was a panic attack. The key loss is not points but percentages. 600 points out of 18,000 is 3 percent. The 1987 one was only 500 points, but roughly 20 percent of total value at the time.

We are going to go down 2 to 5 percent at a time in my opinion. The market is rigged. The Federal Reserve will pump TARP money into it. The Bank of Japan will do the same.

They can delay what is going to happen. They will not be able to stop. The trigger event will be in the DERIVATIVE MULTIPLE TRILLIONS ARE EXPOSED.

The DOW only has 30 stocks that set the close. It is easy for the Fed to manipulate them with a few million here and there. China also just devalued their Yaun currency, which is a bigger story.

The economy's globalist fantasy was shattered by Brexit. It will take some time to work all that out. Still, all the EU mooch countries just got the message the British and Northern European EU debt based gravy train derailed. It has always been about the debt. Brexit calls into question the debt. This is why it is fatal.
Thanks Doug...always appreciate your angle...

o)<

mike
 

ElevenO

Veteran Member
Most of the world's major indices are all currently in the red today. For some reason or another, only some parts of asia are in the green while pretty much everybody else is solidly trading in the red.
 

Hfcomms

EN66iq
They can delay what is going to happen. They will not be able to stop. The trigger event will be in the DERIVATIVE MULTIPLE TRILLIONS ARE EXPOSED.

There is not enough money in the world to paper over what is getting ready to implode. The Euro banks are walking on fumes and the big U.S. banks are not far behind. People are going to start understanding what counterparty risk is but for the average investor it's going to be too late. A 100 basis point currency move in a single day is a big move. We had major currencies down more than 10% on Friday. Major European banks were down close to 20% on Friday and the blood bath is continuing. The banks are insolvent despite the billions of dollars thrown at them since 2008. Shortly it's going to be every man and every central banker for himself/herself. The blood letting here has only started and nobody knows what is going to happen because the world has never faced a derivative implosion before.
 

LightEcho

Veteran Member
The Euro is still worth $1.10. This is no crash. A real crash would have happened over night and the market would be closed. Many banks are in trouble- yes. Some will be forced to close. But the major banks will be papered over as will the stock market. They can fake it just as long as they want and then they will bring on the turmoil so that the people will beg for their help. Right now they are using gentle persuasion mixed with strong doses of deception. Soon it will be strong coersion mixed with harsh doses of reality. It is war after all.
 

2x2

Veteran Member
No sign yet that the "PPT" is playing their game yet so the above stocks are looking to open GAP down as the raiders continue to wreak havoc on them.
Meanwhile the counter plays to the above should continue to run for awhile. If or when the eurozone stabilizes, look for a reversal of the two. Might be inter-day trades or next day or two, depending on the news.

These are looking to open GAP up.

http://finance.yahoo.com/quotes/F.I.,^DJI,^IXIC,^GSPC,ERY,DRIP,NUGT,JNUG,MIDZ,TZA,FAZ,TECS,SOXS,SPXS,YANG
No sign yet that the vaunted PPT has awakened yet. Maybe when the eurozone closes???
 

Adino

paradigm shaper
US Banks Are Crashing

by Tyler Durden
Jun 27, 2016 10:22 AM

"Fortress balance sheets"?

The Brexit contagion is spreading as USD liquidity and counterparty risk in the interconnected global financial system has reached US banks with Goldman at 3 year lows and BofA and Citi plunging over 12%. This happens just two days after the Fed released its latest stress test results finding that none of the 33 banks tested would need additional capital in case of a "severe" financial crisis. That conclusion may be tested soon.

BofA and Citri are ugly:



S&P Financials ETF is down almost 8% in the last 2 days - the biggest drop since the summer of 2011 US downgrade... and below the August crash close:



Who could have seen this coming?





http://www.zerohedge.com/news/2016-06-27/us-banks-are-crashing
 

Adino

paradigm shaper
Maybe yellen should save her liquidity life rafts for her own primary dealers.

Oh yeah, that's right, euro and US banks are joined at the hip. One goes, they all go.

Way to spread that risk around banksters.
 

Cyclonemom

Veteran Member
Wouldn't it be ironic if a vote by a major nation to cut itself off from the globalization teat inadvertently triggered a derivates apocalypse that brought in a one world gov't? Just something to chew on. Not saying that is what I think will happen, but one must always keep an ear to the ground to listen for signs of trouble. It is sometimes hard to tell if it's a harmless herd of buffalo or a rampaging army, but it is still good to be aware that the status quo is changing in some manner.
 

Cyclonemom

Veteran Member
Adino's article

http://www.bloomberg.com/news/articles/2016-06-26/the-100-trillion-bond-market-s-got-bigger-concerns-than-brexit

In some ways, it really didn’t matter to Steven Major whether the U.K. voted to stay or to leave.

Sure, as a Brit, Major followed the U.K.’s surprising decision to break with the European Union. And, of course, the 51-year-old Londoner voted (though he politely declined to say whether he was in the “Remain” or “Leave” camp).

But when it comes to his long view on interest rates, bond yields and the economy, Major, who’s proven to be something of a savant as HSBC Holdings Plc’s head of fixed-income research, says Brexit is ultimately little more than a sideshow. Long after the din from the U.K. vote subsides and regardless of what happens in the U.S. presidential election, Major says issues that, at times, have been decades in the making will conspire to depress global growth and keep rates at rock-bottom levels for years to come.



“The real elephant in the room is not the U.K. vote or a Trump presidency,” Major said. “The real elephant in the room is we’ll have low and negative rates for a very long period of time.”

While the Brexit vote roiled financial markets and caused a surge in haven demand, Major says investors in the $100 trillion bond market need to look at deeper structural problems plaguing the world: demographics, the explosion of debt globally and the disparity in wealth between the rich and poor.

Low rates are also a natural consequence of too much government borrowing after the financial crisis. While it gave economies a much-needed boost, the debt burden robbed many countries of their spending power, which could have supported growth over the next decade. This month, the Organisation for Economic Cooperation and Development warned the world economy is slipping into a self-fulfilling “low-growth trap.”

And without a pickup in growth, there’s every reason to believe that investors will continue to seek out the safety of government bonds.

For U.S. Treasuries, the global benchmark for borrowing, Major says yields on 10-year notes will remain pinned close to current levels and end the year at 1.5 percent. That’s below all other forecasts compiled by Bloomberg last week, which, on average, show that Wall Street sees yields starting to rise.

The 10-year yield tumbled by the most in almost five years on Friday following the Brexit vote and ended the week at 1.56 percent. It approached the record-low 1.38 percent, set in 2012. The yield dropped nine basis points to 1.47 percent as of 10:06 a.m. in New York.



In 2014, when most prognosticators predicted yields would finally rise on the view a stronger U.S. economy would prompt the Federal Reserve to tighten, Major called for Treasuries to remain in demand and 10-year yields to fall to 2.1 percent. That year, they plunged 0.86 percentage point to 2.17 percent.

Yet Major bristles at the idea that he’s simply defying the majority.
“Anyone can be a contrarian without doing any work -- that’s just saying ‘I don’t agree,”’ he said. “I sincerely believe we have low rates for a very long time. Structural problems are outweighing any kind of cyclical bounce.”

If anything, last week’s U.K. vote will only strengthen his lower-for-longer view. While Fed Chair Janet Yellen said future rate increases will depend primarily on U.S. data, she has also cited slowing growth in China and the U.K. referendum as reasons to hold off.



In the futures market, the odds of the Fed increasing rates by year-end plunged to 15 percent in the aftermath of the U.K. vote on Friday. That compares with 50 percent before the referendum. Traders have even started to price in a rate cut.

Treasuries have returned 5 percent this year, the best year-to-date advance since 2010, index data compiled by Bank of America Corp. show. Some measures suggest traders see room for further gains.

Based on options contracts tied to the $9 billion iShares 20+ Year Treasury Bond exchange-traded fund, traders are more bullish about advances over the next month than at any time since late 2014. They’re betting Treasuries will rally over the next three and six months as well.

Amherst Pierpont Securities and Macroeconomic Advisers take the opposite view. In the most recent Bloomberg survey that took place prior to the Brexit vote, they were among the few firms that saw yields on 10-year Treasuries rising to 2.5 percent or higher by year-end on the back of stronger U.S. growth and inflation. They haven’t been that high since October 2014.

While economists see the U.S. growing just 1.9 percent this year, that’s still stronger than much of the developed world. Inflation, excluding volatile food and energy prices, has topped 2 percent for six straight months. What’s more, global yields are already at historically low levels as those on almost $9 trillion of government bonds have fallen below zero.



“Obviously, there are a lot of folks in the market that would come up with a much lower forecast,” especially as negative yields prompt investors to pour into Treasuries, said Stephen Stanley, Amherst Pierpont’s chief economist. “I’m assuming that at some point along the way, Treasury yields are supposed to get back to what the U.S. economic fundamentals would dictate.”

Ken Matheny, senior economist at Macroeconomic Advisers, has a similar view, though he acknowledged “the preponderance of risks to our forecast in the near term are to the downside.” Those included the Brexit vote.

Regardless of where forecasters are now, Major says the likelihood of a U.S. recession over the next two years will probably push the consensus outlook lower. And even if the U.S. avoids that fate, the economy may stall enough so that it feels like a recession, especially for those left behind in the recovery. That’s likely to keep the Fed from raising rates further.

“It looks to me like everyone is going to end up converging on a similar view: the Fed can’t do much,” Major said. “I’m already there. It’s more of a structural story and the Fed for international and structural reasons can’t hike. Others will get there from their more cyclical approach.”
 
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