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Mtl JP  16:04:41 GMT - 10/15/2014  
ib 15:53 - To what end ??

from yellen's October 9, 2013 statement - she sees the FED with three mandates:

The mandate of the Federal Reserve is
1) to serve all the American people,
2) help ensure that everyone has the opportunity to work hard and build a better life. We can ensure that inflation remains in check and doesn't undermine the benefits of a growing economy.
3) We can and must safeguard the financial system
Which, do you think, is the only one that really counts to her and her gang ?

re "they do not have a lot of policy options"
Under-estimate Yellen gang's "macroprudential policy" which has yet to kick in at thy own risk

Paris ib  15:53:04 GMT - 10/15/2014  
And when / if that happens what is the FED going to do? Cut rates? Introduce some more QE ?? To what end ?? Bond yields are already low. They will then find themselves in an interesting position.

Meanwhile at the geopolitical side of things all the U.S. wars of aggression are being lost. Which is not surprising. The natives aren't exactly enthusiastic about what the U.S. has done in their land. So the U.S. is bombing in retaliation.... like in Vietnam. Leaving a toxic legacy in vengeance. Same old same old.

All the losing wars

Mtl JP  15:41:54 GMT - 10/15/2014  
from chart history: after the Babson Break 3% pre-tremour shake, not even two months later on Oct 29, stocks megapuked 12%

Mtl JP  15:24:25 GMT - 10/15/2014  
JN 15:03 / from wikipedia: On September 5, 1929, he gave a speech saying, "Sooner or later a crash is coming, and it may be terrific."[4] Later that day the stock market declined by about 3%.[citation needed] This became known as the "Babson Break".
of note: Babson was made out to be a nutball by the then MSM, and when stocks did puke folks dumped on him instead of thank him for a heads up !

It appears not much has changed today.

NY JM  15:10:21 GMT - 10/15/2014  
Hedge funds are getting crushed and this seems to be fueling what has been a classic liquidating market.

Miami JN  15:03:30 GMT - 10/15/2014  
JP what is this Babson break mean?

Paris ib  14:32:02 GMT - 10/15/2014  
Italy is down nearly 4%. Japan is down 2.6%.

Mtl JP  14:31:13 GMT - 10/15/2014  
closest to Babson Break is German DAX off - 2.7%

Mtl JP  14:21:57 GMT - 10/15/2014  
john 14:16 we have not yet a single Babson Break day in stocks
-1.5% yes, -2% yes but not -3%

GVI Forex john   14:16:45 GMT - 10/15/2014  
5% day in pivot points for EURUSD R3 and USDJPY S3

back in line now.

As for the rest of the day, its all about stocks which appear to be stabilizing for now. The panic in stocks was triggered (catalyst) by the Retail Sales, PPI and Empire PMI data on the open. Stock sellers then moved into bonds (buying).

The RISK for the balance of the session is whether there will be another wave of margin selling in equities later. Personally I would not even hazard a guess is that is in the cards.

GVI Forex john   11:39:32 GMT - 10/15/2014  
USDJPY breaks 107.00 pivot.

GVI Forex john   10:43:26 GMT - 10/15/2014  
Selected daily USD & EUR Pivots. Complete Chart Point tables. Click chart icon to store in browser tab.

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