As of this minute, S&P 500 futures have hit their “limit down” trigger, and are frozen at 855.25. That is a frightening development.
The drop is almost certainly tied to the abysmal performance of Asian and European markets overnight, and the response to what might end up being the United Kingdom’s first recession since 1991.
Friday will be an interesting market, that’s for sure.
Update: Dow Futures are locked limit-down as well at 8224.
Looks quite like a flatline, doesn’t it?
And how about the bid/ask interest here. Wow.
Update 2: Oh boy….
hmm didnt think my old man would actually call it but he sent a warning doom&gloom email to me last weekend… his funds up circa 5% this month… great alpha, his TA must be the shit.
dangerous days right now, glad my only plays are relatively small allocations
Knew this was coming. About time some quants and “zomg cheap” bulls learned to read a busted chart. It took them long enough.
We may actually give the circuit breakers a workout today.
@2
I don’t trust quants. Because if their models are any good, why the fuck aren’t they trading it on their own?
I trust only traders. Human instinct prevails. Suck it machines.
Best position: Cash & Feutal
with cash being $, obviously
PEASSociate.
I hope you brought your wood screws, because you’re about to get your doors blown off.
Are there deliverables today?
or is this totally from the overseas action
EP:
Lock it up. Limit Down, Limit Shmown. If you don’t love this market you’re in the wrong game.
-VOL IS KING
Con: Rotated out of emerging market short positions.
Pro: Rotated into US market short positions.
Everyone who went long on the past two rallies…rotate into a shotgun.
#8: or sit on a pineapple and rotate. either works
dont pick up the phone, its margin call!
Do you agree with this guy that we are fucked? And no, it’s not my blog I’m pushing.
http://market-ticker.denninger.net/archives/P3.html
I love people asking for a reason “why today” and then someone gives an idiot response. Anyone who answers this is a charlatan. As Micheal Lewis said in Liar’s Poker… its probably some saudi prince liquidating his holding. Or George Soros farted, or there’s a disturbance in the force. Whatever, doesn’t matter, as long as vol is up (or down) life is good.
-Roubini Taleb & Co
any FX guys around? dollar/yen, dollar/pound…. its like the wild west out there
And little old me decided to hold my intraday SSO position through the close yesterday…
I am a hedge fund manager, what’s a limit? [Wait, you mean there's something that limits my losses? That's awesome! I can haz limit?]
“But the Duke family has had a seat on this exchange since the founding!”
Isn’t “Sell, Mortimer, sell!” more appropriate?
Market has had a bad case of denial.
Fx movements are telling of a flight to quality.
EP
For those of us who had to be up after dark, your should change your title to:
Dealbreaker Just Before Dawn
15,000 contracts on ask for the ESZ8. Nice.
Okay bulls, show yourselves. Explain why 9100 was such a fantastic buy point.
Maybe those Kellogg students were on to something when they decided to get wasted and making fools of themselves last month.
It’s on the cover of the Sun Times today. Nice!
No….I think that this is the most appropriate quote for today:
“Margin call, gentlemen.
All accounts to be settled at the
end of the day’s trading, without exception.”