DJIA Futures
Posted on 06/11/2013 5:05:23 AM PDT by blam
Markets Turning Ugly: Yen Soars, Italy Tanks, Emerging Markets Get Hammered Again
Joe Weisenthal
June 11, 2013, 5:48 AM
The day started off somewhat quietly, if negative in tone, for global markets.
But things have gotten worse no matter where you look.
The yen is strengthening violently, as dollar-yen falls below 97.
This yen strengthening comes in the aftermath of a BOJ decision to remain on course, and not do anything new.
That lead to a 1.5% decline in the Nikkei during normal trading, but since then futures have weakened further.
Meanwhile, the emerging market rout continues apace, as markets in Thailand, Indonesia, and the Philippines got smashed.
By the same token, we've seen ugliness in South African and Australian currencies today.
In the wake of all this, other markets are taking it on the chin.
Italy is now down 1.9%. Not helping matters is growing concern over a German constitutional court case on the validity of the OMT, the ECB's unused plan to back up government sovereign debt. Germany itself is now down about 1.2%.
Meanwhile, US futures are at their lows of the morning.
(Excerpt) Read more at businessinsider.com ...
DJIA Futures
* US interest rates increase
* China slowdown
* Soft commodities demand
visualize someone poking their tongue against the inside of their closed mouth ...
Now, visualize a balloon and in that balloon is tongue-like something or other, poking at the inside of the balloon ..
now see THAT "tongue" retract, but another one pokes at a different spot on the globe of the balloon
draw back a little and watch 8 or ten "tongues" push and retract with inconsistent frequency.
That's how I look at the finances of the world
It's also how I see social uprisings, political activity and a ton of et cetera's and if there is ANYTHING to man made globull warming ... it is not the warming ... but the turmoil of the planet caused by man
I'll just BETCH'A some clever, animating Freeper could put something together to illustrate this.
DOW will finish up.
that AUD move shows how tons of international investors were conducting “carry trades” funding themselves in USD and buying Australian assets for the yield. With the US side of the trade looking to become more expensive, too many people in AUD are looking for the exits at the same time. Bloodbath ensues.
BUY! All news is good news on Wall Street.
Good news = good economic recovery = BUY!
Bad news = more QE = good news = BUY!
Sounds a lot like 1929, when everyone thought the stock market would go up forever. What’s our excuse in 2013 for believing we can have 14% unemployment and have a healthy economy? Oh, I forgot....we have Helicopter Ben to add zeros to the Fed’s computers since it costs too much to really print his funny money these days.
Sometimes the opening price is the low of the day and it reverses immediately. This looks like it will be one of these days.
Nothing can sink this Titanic rally. Full steam ahead.
Week 1 Pump: Somewhere someone meets on Greece, Italy, Japan and/or Spain, the media reports there is optimism that a deal is near. The stock market rises and the media praises the glorious recovery Obama has brought us.
Week 2 Dump: Somewhere someone meets on Greece, Italy, Japan and/or Spain, the media reports there is pessimism that any deal can be reached. The stock market tanks and the media claims it is just an “unexpected” bump in the glorious recovery Obama has brought us.
Week 3 Pump: Somewhere someone meets on Greece, Italy, Japan and/or Spain, the media reports there is optimism that a deal is near. The stock market rises and the media praises the glorious recovery Obama has brought us.
Week 4 Dump: Somewhere someone meets on Greece, Italy, Japan and/or Spain, the media reports there is pessimism that any deal can be reached. The stock market tanks and the media claims it is just an “unexpected” bump in the glorious recovery Obama has brought us.
Rinse, lather, repeat……………
Latest news story today-—
NEW YORK (MarketWatch) — U.S. stocks started sharply lower on Tuesday after the Bank of Japan disappointed some investors by holding its policy steady and worries about Federal Reserve tapering continued to haunt the market.
“Today is going to be a truly global marketplace because the Bank of Japan didn’t have more to say about the volatility in their bond markets. And we have a choppy economic recovery and a big question mark about our monetary policy,” said Art Hogan, market strategist at Lazard Capital Markets.
Global stocks were also rattled as a German constitutional court began to consider the legality of the European Central Bank’s pledge last year to buy the government bonds of weaker euro-zone countries to prevent the single currency from breaking up.
DJIA down 4 as I post
Stick around, there will be more. “They” never flatline it for an hour after a run like that just to give you plenty of time to pick where you want to short.
Another 50 points on the DJII isn’t out of the question at all, especially if the big Goldman Sachs computer in the sky decides to make its move at one of the usual times of 2:15 or 3:35.
Oops, I started with one thought and ended with another. This relative flatline we're seeing is exactly what They do to give you plenty of time to pick where you want to short. Then at 2:15 or 3:30 at the latest they just press the big buy button and never let go.
My crystal ball says the DJII hits 15290 at some point today. As that's close enough to a nice round number (15300), it would follow that They will want that near the close, not right away. The ramp begins at 3:30 today.
Oops, I started with one thought and ended with another. This relative flatline we're seeing is exactly what They do to give you plenty of time to pick where you want to short. Then at 2:15 or 3:30 at the latest they just press the big buy button and never let go.
My crystal ball says the DJII hits 15290 at some point today. As that's close enough to a nice round number (15300), it would follow that They will want that near the close, not right away. The ramp begins at 3:30 today.
Billionaires Dumping Stocks, Economist Knows and Tells Why !
Elites are cashing in now before everything goes POP !
Well I have to say I am baffled. I could blame the Turkey riots, as Zero Hedge does, but today was a big zero for me.
Doesn’t this have to end sometime?
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