06/23/2016 Live Update

[Cobra]

leave is very close to win now.

[Cobra]

futures now.

[JFR]

Now comes the mess.

Must negotiate the exit terms. Ouch. Do not expect an easy divorce.

"Ahhhhh ... Couldn't we have just stayed? So many hassles now. Who cares if Remaining meant we have to deal with an endless supply of immigrants?" Nope. It is a divorce. "I've got a headache." LOL

Did you just shoot yourself in the foot? Yup.

[Daniel]

Pound/Dollar was at 150:100 at dinnertime ET, plunged as low as 1.33:1

This level has not been seen since 1985.

HSBC bank down -11% at its low so far.

[Cobra]

futures not moving. circuit breakers triggered?

[Al_Dente]

dominos?

[Al_Dente]

"limit down"
[zh]

[Cobra]

"limit down"
[zh]

yes, just as I guessed.

[fehro]

SPX at 2007 - 100point down - 4.7%

[Daniel]

US 10yr Treasury yield hit as low as 1.47%

Dollar/Yen briefly broke parity, around the point where the Leave vote started pulling clearly ahead. Rumbles of BOJ intervention have been heard.

[QED]

Have I missed anything?

[JFR]

"limit down"
[zh]

yes, just as I guessed.

Yup. System overload also. I had to reboot. Internet overload. LOL

Get your survival stuff ready. Just kidding.

[QED]

futures not moving. circuit breakers triggered?

/ES Party like it's 1999!

[Daniel]

Have I missed anything?

Not if you're in cash. Otherwise, yes, quite a bit.

[Cobra]

1 min chart clearly shows the circuit breakers are in effect. let's remember this historical moment!

[nikman]

Cobra,

There was something that was creating doubt in your mind about a certain "remain" vote when the markets were rallying. You kept saying, "let's see if it is true". What was that?

1 min chart clearly shows the circuit breakers are in effect. let's remember this historical moment!

[JFR]

The market oftentimes discounts major events. It seems to have gotten it wrong this time. This observer agreed with the market --> Remain will win. Wrong.

As noted, reflecting my bias about the wiser way to vote, I did not think the voters would be so short sighted. IMO they have set the wheels in motion for the diminishment of the UK in a variety of ways. Economically. Prestige. Significance. Good chance they will lose Scotland. Maybe Northern Ireland. I think this leads the UK to a more isolationist stance in world affairs.

Just IMO ... And the sun will rise tomorrow.

[Cobra]

Cobra,

There was something that was creating doubt in your mind about a certain "remain" vote when the markets were rallying. You kept saying, "let's see if it is true". What was that?

1 min chart clearly shows the circuit breakers are in effect. let's remember this historical moment!

Just guts feeling, cannot believe the market was so sure about the stay results.

[QED]

Good chance they will lose Scotland. Maybe Northern Ireland.

I disagree. I think Great Britain will remain intact.

[fehro]

Cobra,

There was something that was creating doubt in your mind about a certain "remain" vote when the markets were rallying. You kept saying, "let's see if it is true". What was that?

1 min chart clearly shows the circuit breakers are in effect. let's remember this historical moment!

Just guts feeling, cannot believe the market was so sure about the stay results.

yup me too.. charts all screamed bullish.. but my gut.. said head fake.. a big move was coming got the amount a tad wrong.. 100 SPX .. was looking for 20-60
going to be a fugly morning