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dc CB  19:14:34 GMT - 02/07/2018  
Nomura became the first bank to announce the early redemption of its VIX-linked ETN, the aptly named "Next Notes S&P500 VIX Short-Term Futures Inverse Daily Excess Return Index ETN", which would be redeemed at a 96% discount, i.e., a complete wipeout for investors.
"We sincerely apologize for causing significant difficulties to investors,"

Baskin and Robbers

dc CB  21:59:19 GMT - 02/06/2018  
somebody will teach a class someday and use these charts
SAVE file. ZeroHedge

Volmageddon -6000pt swing

dc CB  21:38:10 GMT - 02/06/2018  
Some things never change.
the SEC under Arthur Levit during the DotCom Bubble.
Enforcement against Stock Mary Meker, Henry Blodget, et al.

As chronicled by Michael Lewis in the NYTime Sunday Mag.

SEC motto: Hose the Little Guy

15yo Market Manipulator

dc CB  21:26:55 GMT - 02/06/2018  
Top ZeroHedge Tweet of the day

re - XIV

london red  20:08:43 GMT - 02/06/2018  
50 dma s&p initial res. if they get abv there no falling back today. so its a potential selling point for those wanting to get out.

Livingston nh  18:30:04 GMT - 02/06/2018  
The market internals are much better -- I wonder if anybody has algos turned on w/all the whipsaw moves // Look at February 2016 or August 2015 for a double bottom pattern on a LOG chart -- Bottom #1 may be in and a close tomorrow above 2700 might carry into Thursday// BUT everybody has a different CAUSE of this so there will be no Bells ringing "ALL CLEAR" on Friday // the 40 dma is probably the resistance to set up a test of the lows

This may take a while but as long as the Panic doesn't spread to FX or FI the ranges 2500 to 2800 will hold

(as always CAVEATS apply)

Israel Dil  18:18:00 GMT - 02/06/2018  
conclusion: US trade deficit is good news for stocks

dc CB  18:12:13 GMT - 02/06/2018  
that use first, second, third MONTH Forward etc VIX futures.

Mtl JP  18:10:41 GMT - 02/06/2018  
Post-fact advice, explanation or rationalization here there everywhere
Bottom Line
It is only generational
(so insures that trade opportunities repeat)

This guy just lost $10,000 trying to time the market — using his credit card

dc CB  18:10:20 GMT - 02/06/2018  
there were 2 ETF/ETNs based on a Short VIX formula that "rebalanced" the fund at the end of each day. In other words more or less, if the VIX rose the Fund had to Buy to cover short exposure. These are complicated instruments that use first, second, third etc VIX futures.

XIV,the Credit Suisse product went to 0

What they really were was a way for retail to make a Bet. similar to the way CDS, CDS squared, cubed, etc were designed to allow "sophisticated investors" to bet on the mortgage market way back before the implosion in 2007-2008

Mtl JP  18:02:02 GMT - 02/06/2018  
Abelask yourself who is paying the old wolf to lend his name to the headline or what is his interest that stox do not continue to crap

Mtl JP  17:58:51 GMT - 02/06/2018  
with "one still standing" do you think it is only the crappier - like say 3-rd tier - quality "investments" that are tasting market's vaccination ?

dc CB  17:48:16 GMT - 02/06/2018  
one still standing

Mtl JP  17:42:33 GMT - 02/06/2018  
Perfect example of the negativity of verbs in past tense:
typically feeling(s) of vague or regretful longing, sad or melancholic wistful expression(s) about nostalgia for the old days

XIV trader: ‘I’ve lost $4 million, 3 years of work and other people’s money’

Jkt Abel  17:30:12 GMT - 02/06/2018  
So who is buying cashin's 50year experience?

Mtl JP  17:00:41 GMT - 02/06/2018  
typically eyesight degrades with age, but
"Art Cashin: I've been on Wall Street for 50 years and this looks like a market bottom"

thinks he is an exception

Israel Dil  16:53:37 GMT - 02/06/2018  
if the next crash is scheduled for potus 45th term, I am almost certain the algos chief cpu to be named Hillary :-)))


dc CB  16:50:42 GMT - 02/06/2018  
"Ths is the way the next crash will likely come. The need for yield for pension funds to actually pay their retirees makes them prime targets for bank ideas to create yield. Ideas like "just sell vol". And like those old school sellers of strangles to capture premium, they have been right almost 5 years running. But it takes only 1 time to be wrong, and that pension will blow up."

Walkthrough on Exactly How the XIV is Ripping People's Faces Off.

dc CB  15:20:02 GMT - 02/06/2018  
Yr 13:58 GMT
see that they rolled out Bullard...going for Bullard's Bottom v.02_18????

Mtl JP  15:15:52 GMT - 02/06/2018  
"acceleration event" haha who is the literary genius that coined the term ?
more importantly: "Credit Suisse .CSGN.S, the issuer of the VelocityShares ETN (XIV.P), in which it has a 32 percent stake, said it had not suffered any loss on the product." - rtrs

dc CB  15:09:58 GMT - 02/06/2018  
dc CB 22:13 GMT February 5, 2018
I SCREAM --- multi Levered most like Flavor of 2017-2018. Baskin and Robbers
XIV, SVXY Halted, News Pending

"ETPs had to buy 282,000 VIX futures to rebalance their short gamma: this is the largest VIX buy in history, dwarfing Friday’s previous record of 78,000."

Credit Suisse: "Since the intraday indicative value of XIV on February 5, 2018 was equal to or less than 20% of the prior day’s closing indicative value, an acceleration event has occurred."

It took 6 years for XIV to go from $11 to $144 and one day for it to implode to zero

GVI Trader Jay Meisler  00:34:52 GMT - 02/06/2018  
DC your post was deleted in error. Just did the same to one of mine on the GVI side. It's been a long day.

dc CB  00:21:00 GMT - 02/06/2018  
sure Jay anything you say.
Politics has nothing to do with this recent market action.
See you around.

GVI Trader Jay Meisler  00:08:46 GMT - 02/06/2018  
DC, let's keep politics off this forum unless it has market impact

dc CB  22:58:49 GMT - 02/05/2018  
Israel Dil 22:32 GMT
leave long order ~ $3.50
missing the point about Short Vix ETF/ETN aka I SCREAMS

POOF IT'S Gone --- just like the Cryptos...
'splained on ZH last July.
XIV hit the "termination event"

"Wipeout Scenario": 250% Losses If VIX Spikes To 20

HK [email protected]  22:41:35 GMT - 02/05/2018  

Combined: Trump will be in office for at least one term.???????

Bet 1:100 he will be reelected!!!!!!

Israel Dil  22:32:07 GMT - 02/05/2018  
leave long order ~ $3.50


dc CB  22:25:01 GMT - 02/05/2018  
Bid 18.15
Ask 18.80

dropping like a rcok

dc CB  22:15:46 GMT - 02/05/2018  
SVXY after hours
Bid 33.33
Ask 33.50

dc CB  22:13:37 GMT - 02/05/2018  
Robo-Adviser Websites Crashed, Cutting Clients Off From Accounts: BBG

I SCREAM --- multi Levered most like Flavor of 2017-2018. Baskin and Robbers

dc CB  21:58:07 GMT - 02/05/2018  
a couple of things that the writer fails to mention.
The Democrats have nothing other than We Hate Trump.
The have no viable candidates, Oprah? Joe Kennedy III, Maxine Waters?, Adam Schiff?, Nancy Pelosi? (and after all it's been well over a year since Hillary Lost)

The Anti Trump Memes - Russian Agent, Impeach, Mentally Unstable arguments have been blown out of the water.
Crash the Stock Market and the country will turn against Trump and and and What...throw him out of office because the Voters lost money?

Combined: Trump will be in office for at least one term. Add that to the fact that the Opposition have Nothing to Offer bodes Ill for the future of the US.

Why would you bet money-"invest" (lol) on an ecomony run by a bunch of Idiots.

Israel Dil  21:57:59 GMT - 02/05/2018  

sub 30k looks so close


Mtl JP  21:42:27 GMT - 02/05/2018  
A really fun piece to read , cynicism n sarcasm and told you so's just oozing from PAUL BRANDUS'

Opinion: Trump may learn what Obama, Reagan and LBJ did about markets and the economy

Livingston nh  21:28:06 GMT - 02/05/2018  
That was fast - all open gaps on SPX into early December are now filled and the 100 dma held // The NYSE declining volume exceeds advancing volume by 32 to 1 on heavy VOLUME (personal note - past two days makes amends for Election Night reversal)
Lucky better than Smart - FX charts were still showing simulations from w/e with wrong/different MAs -- didn't shut down last night and plunged right in this AM
The 10 yr yield dropped so much that the treasury/bund spread is back to 200 - a modest stox rally tomorrow should push the spread higher

london red  20:39:19 GMT - 02/05/2018  
when we went under last years high the mkt suddenly no longer was a breakout mkt but a mkt that was actually normal and normal meanings backfilling IS possible. 2600 is an inital sup for a still v strong bull trend. so its the v first real level in terms of end of year thinking. below there you probably have 22/2300 as a major sup.

lkwd jj  20:28:54 GMT - 02/05/2018  
looks like large stops were under 2675

london red  20:27:40 GMT - 02/05/2018  
s&p was a whisker frm 100dma and a channel from 2016. big hourly tail suggests they will work higher tomorrow

dc CB  20:07:53 GMT - 02/05/2018  
Jan's gains POOF GONE

1000 and counting on DJIA....

Livingston nh  20:07:27 GMT - 02/05/2018  
SPX wiping out January gains - money flows into "safe haven" treasurys - Mkt internals worse than Friday

dc CB  20:01:03 GMT - 02/05/2018  
Jan 2 ESH - Emini March Opened the year at 2675 - Opened Jan 29 at 2874....current 2684

Israel Dil  19:38:06 GMT - 02/05/2018  
nice trading combo nh you run there

Livingston nh  19:07:16 GMT - 02/05/2018  
SPX making a run-up towards 40 day MA after breaking morning low - chop-chop into 3:30 and then set-up for Turnaround Tuesday (still gaps below tho)
Treasurys holding onto slim gains as yields slip - the EUR trying to close above the 21dma but the 4 hr chart has 1.2350 (89 ema)
WTI below 64 w/ CAD and NOK responding accordingly

Mtl JP  15:13:26 GMT - 02/05/2018  
dc CB stunning .. someone like sensationalism ya ?
WFC has around 270,000 overhead employee liability
Pundits are frothing that janet's "punishment" is an equivalent to $400,000,000 fine

Do you think WFC can not find 6500 $60,000/yr overhead turfees to just b/even ?

dc CB  15:12:00 GMT - 02/05/2018  
HvyWt APPL bounces off 200dma up over $3...
turns all three indexes

dc CB  15:01:05 GMT - 02/05/2018  
Following Friday's stunning announcement by the Fed penalizing Wells Fargo, and effectively quasi-nationalizing America's largest mortgage lender (or maybe not largest any more), ordering it to "stop growing" until its gets its criminal house in order

Wells Fargo Plunges 9%

Mtl JP  14:26:14 GMT - 02/05/2018  
CB 14:05 so ___ ?

ask yourself... where will the 3, 4 directors recycle themselves next to spread their operating dna code ?

u want to clear of TB infection u got to disinfect until all the bacteria are dead.

dc CB  14:05:56 GMT - 02/05/2018  
Livingston nh 12:53 GMT
jp - this replacement of directors seems pretty extreme interference.
They screwed their own customers!!!!
The Fed is forcing Wells to find three new directors by April and one more by year end, following through on a threat made last July. That is a necessary but far from sufficient condition for effecting real change at the bank, which has the hallmarks of having created a toxic culture that will take a concerted effort to change. However, with a CEO who was promoted internally, Tim Sloan, there’s every reason to expect that all will happen are cosmetic changes, and Sloan’s conduct to date is consistent with that.

CNN reported last fall:
Wells Fargo now says it has found a total of up to 3.5 million potentially fake bank and credit card accounts, up from its earlier tally of approximately 2.1 million. In other words, there are two-thirds more fake accounts than previously realized.

Naked Capitalism. February 5, 2018 by Yves Smith

Israel Dil  13:46:31 GMT - 02/05/2018  
anyway to know if some hedge funds to be exposed for less supply due to Wells Fargo "affair"?

Livingston nh  13:42:50 GMT - 02/05/2018  
and unlike a FINE it is still tax deductible

Mtl JP  13:39:49 GMT - 02/05/2018  
again... the short-term "indirect FINE" can be viewed as a consulting "fee" in the longer term, but in the market's myopia that view's time has not yet come.

Livingston nh  13:26:16 GMT - 02/05/2018  
jp - reorganization of assets (in order to make new loans) will cost them so it is an indirect FINE - the timing as Yellen bows out is "unusual"

Mtl JP  13:16:22 GMT - 02/05/2018  
nh right now market players fuss over that the Fed is preventing the bank from growing assets, meaning WFC cannot write any new loans.

However, that janet and gang decided to limit growth until things like risk management catch up .... is doing the bank an unwitting favor of improving (or at least not worsening) its at risk profile.

Israel Dil  12:56:19 GMT - 02/05/2018  
the reaction (or no reaction) from Wells Fargo makes them look like kid caught with his hand deep inside the candy jar.

Livingston nh  12:53:49 GMT - 02/05/2018  
jp - this replacement of directors seems pretty extreme interference - a warning shot or a NEW policy?

Mtl JP  12:50:55 GMT - 02/05/2018  
as the hyenas are out
07:47 Wells Fargo stock price target cut to $50 from $65 at RBC Capital MarketWatch
07:47 Wells Fargo downgraded to underperform from outperform at RBC Capital MarketWatch
07:46 Wells Fargo downgraded to underweight at J.P. Morgan

Mtl JP  12:49:20 GMT - 02/05/2018  
Janet's BTFD parting gift ?
Wells Fargo's stock plunges 7.9% premarket after Fed sanctions

Livingston nh  12:18:12 GMT - 02/05/2018  
Sorry - 10 yr spread should read 218 not 118

Livingston nh  11:52:00 GMT - 02/05/2018  
Maybe fade the gap open for an attempt to fill the gap before lunch time (London close) - then another downmove to test the low
The 2yr treasury has been relatively stable but yield is still below 3 Fed hikes -- ISM services (prices and employment) might light the fire // meanwhile the 10 yr treasury v. bunds spread has widened again - a move above 118 should help dollar
Cable coming up to March anniversary w/ little to show from brexit confusion as the clock ticks - 1.3860 first target

Mtl JP  11:33:34 GMT - 02/05/2018  
Wall Street selloff spreads to Asia; Nikkei has worst day in more than a year

FTSE 100 heads for 2-month low as global stock rout continues

U.S. stocks poised for fresh selloff as Dow futures slide over 100 points

10-year Treasury yield rises, briefly topping 2.88%

srce: marketwatch

U.S. 10 Year Treasury Note

Mtl JP  10:32:39 GMT - 02/05/2018  
What I like about the link below is that it uses future tense verb, employing the helping verb will with the base form of the verb:

Here’s where buyers will step in as stocks keep falling, say chart watchers - VICTOR REKLAITIS, MARKETS WRITER

lkwd jj  03:22:22 GMT - 02/05/2018  
1.2222 is my target not my entry.. i sold it 1.2453.

Israel Dil  01:19:02 GMT - 02/05/2018  
dick waving jj?!


lkwd jj  01:13:11 GMT - 02/05/2018  
Dil i forgot to tell you i sold nikkei on friday at 420pm. couldnt find your number. mine was 22990 cheers! that was from the easiest trades to make. my alarm went of 100 higher but i was not at desk.

Israel Dil  00:59:24 GMT - 02/05/2018  

selling pops ~22930 seems to be good for nice gain still today

Mtl JP  00:50:08 GMT - 02/05/2018  
NIKKEI 225 Index

22,838.38 -447.05 -1.92%

Israel Dil  02:02:41 GMT - 02/04/2018  
nh 21:48 GMT February 2

this round I bet on ccys, commodities and VIX to generate much better equity gain than stocks. the geopolitical "money values" do not mirror well anymore through stocks, US stocks stocks are total hoax and their "value" is no longer picture of reality. politicians worldwide with their central bankers picked stocks to act as evidence to serve their narrative. useless (no money) in trading US stocks as ccys movement to wipe the net/net changes in stocks pricings.

btw, NOK vs (almost) all is buy on dips.


dc CB  03:17:28 GMT - 02/03/2018  
the 5ver. vely low margin/buck like $600+/-per

Trendy PeeWee's PlayHouse...Hello Trendy Frendy how much Money have you made for us today?

Mtl JP  00:01:26 GMT - 02/03/2018  
CB the better news in that cnbc link is that "The benchmark 10-year yield rose to 2.85 percent." Hava Nagila !

dc CB  22:21:33 GMT - 02/02/2018  
Dow plummets 666 points, capping worst week in 2 years

666 666 666 666 666 666 666 666 666 666 666


dc CB  22:14:56 GMT - 02/02/2018  
It ain't like it used'ta be

Livingston nh  21:48:23 GMT - 02/02/2018  
dil - this is the first SPX close below 21 dma since mid- November and it bounced off the 40 day -- now the 40 day is a bit below 2740 and just below a gap ~2740// the big gap is the opening rally of the New Year down at 2680 w/i range of the rising 100 dma // a lot of chop before that and then a test of the low w/ a higher MACD -- 3 to 4 weeks?

dc CB  21:39:16 GMT - 02/02/2018  

blew the Joke :))

dc CB  21:36:59 GMT - 02/02/2018  
Popin' Collars

The Millenial Plunge Protection Team --triggerd and last seen clutching stuffed bears and sucking on Janet Yellen commemorative "binkies" that were handed out this morning at her retirement party, with a note attached:

"you're gonna need this, soon" Yrs Gammy

Your Money in Their Hands

dc CB  21:27:35 GMT - 02/02/2018  
the End Game phase (chess reference here)

Knight? certainly no a Bishop

Off the Board

Israel Dil  21:19:23 GMT - 02/02/2018  
nh 20:51

if ~2750 acts as base for rally towards 3k then it's probably a new world we live in...

dc CB  21:09:59 GMT - 02/02/2018  
dc CB 20:08 GMT January 27, 2018
markets: Reply
COT - Commitment of Traitors.
(a Play on WORDS) --- coming to a head soon, as the seige on the Trump presidency enters the End Game phase (chess reference here)

dc CB 03:16 GMT January 29, 2018
This week shud be a wild ride. Perhaps the only thing that cud be a sure-bet is that Volitility will rise - may spike - may go to the moon, crushing all the Short Vol positions out there in all those ETFs ETNs double and triple scoops of the many flavors of Shrt Vo---I SCREAMS that your local confectioner offers.

Israel Dil  21:03:24 GMT - 02/02/2018  
potus 45th gonna tweet soon, who is going to get the blame for today's stox down day?

london red  20:53:15 GMT - 02/02/2018  
simply...s&p needs to trade within last years range...thats below 2700. initial sup which is prob the only area to buy is c. 2600.

Livingston nh  20:51:33 GMT - 02/02/2018  
Into the close the market internals ARE EXTREMELY NEGATIVE -- A/D line is 9 to 1 favor decliners and the volume figures are at Extreme Deadly 10 to 1 (this kind of figure is RARE and usually portends extended period of choppiness and correction)

Yellen leaving Dodge - timing is everything

Actionable trading levels delivered LIVE to YOUR charts

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