It's gotta be trending on every major financial network right now. Facebook (FB) is currently down more than 23% after hours after earnings. The plunge protection team better step in if they want to avert a panic.
This is gargantuan news. If you don't know what FAANG is (Facebook, Amazon, Apple, Netlfix, Google) slap yourself. FAANG makes up a large part of the market esp. in 2018.
A couple weeks ago, Netflix fell sharply after less than stellar earnings.
https://www.zerohedge.com/news/2018-07-17/netflix-lost-178-million-each-its-112-emmy-nominations
Google had decent earnings after it demonetized youtube content providers (who are now moving to Steemit and Dtube). Facebook is crashing hard though (crash is defined as more than a 20% drop in a few days - this more than qualifies).
This is going to have a huge ripple effect throughout the markets all by itself.
Keep in mind that this comes on the heels of Elon Musk's increasingly erratic behavior (his distractions are no longer working like they used to).
https://steemit.com/news/@justastic/elon-musk-is-a-total-fraud
It comes on the heels of the US auto makers tanking as subprime defaults mount.
https://steemit.com/news/@justastic/einhorn-crushed-as-gm-plunges-most-since-2015
It comes on the heels of housing numbers showing cracks forming today.
https://www.zerohedge.com/news/2018-07-25/new-home-sales-tumble-8-month-lows-despite-price-plunge
It comes on the heels of my favorite turd, Deutsche Bank, reporting terrible earnings (down 17%).
https://www.zerohedge.com/news/2018-07-25/deutsche-bank-ficc-tumbles-17-worst-q2-financial-crisis
Folks, this is what it looks like when a bubble is about to pop. I'm seeing the seismic activity picking up despite the fact that the DOW closed up 170 points TODAY and is within striking distance of all time highs.
The dual narrative continues. There is the fictional narrative that everything is awesome. Then there are the facts as mentioned above. When reality hits, it's going to be nothing short of the worst economic disaster in the history of mankind (WORSE than the Great Depression).
Before we close, it's important to mention that we have been seeing signs that Bitcoin is getting ready to go parabolic again in the last couple weeks. We should know for sure in the next week or two but it is sure looking that way.
Act accordingly,
The Market Vigilante
Nice brief Market Vigilante.
Assuming FB opens down 20%, the flow-on (margin calls, panic, pension fund failures) is going to be horrific.
Like you though - this Knight is prepared.
SirKnight
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IF YOU CAN SEE THIS POST
https://steemit.com/steemchurch/@lso8/i-persecuted-sirknight-in-australia
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Thank you for your support.
Can any of us be fully prepared for what is to come? We can't answer that question. But does that mean we should not try?
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Thanks for the update! I have heard that the winds of change are coming, and appreciate you sitting up in the crows nest and yelling when you start to see land.
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It is often a thankless job. Thank you for your support!
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I'm below deck, working, thinking, planning; we all have a role to play on this ship! Following you now so feel free to document this latest demise ;p
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Very interesting analysis!
I think I have participated in FB crash. Some days ago I posted this message:
Well, at least this is my micro contribution to this event :)
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I will be sure to point the finger in your direction if anyone comes asking!
😁 😂 🤣
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Very informative and resourceful. Good to share your experience
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Interesting article, Facebook indicates the fiscal markets... not sure, but interesting just the same.
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Its almost as if it had lizard eyes! But of course we all know that its just Voldemort, and he got that way by putting his tiny fraction of a soul into a snake, no conspiracy here.
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Article quite resourceful. Thanks for the observation.
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A very resourceful article. Good works
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As a follow up to this article, we must announce that Bitcoin is not going parabolic at this time - most likely because of the SEC's recent denial of the Winklevoss twins ETF application. We will continue to monitor Bitcoin price action and keep you up to date.
The Market Vigilante
https://www.yahoo.com/news/once-again-sec-rejects-winklevoss-123804724.html
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