Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more | |
Anonymous Coward User ID: 21058743 Portugal 08/01/2012 12:56 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 3297006 United States 08/01/2012 12:57 PM Report Abusive Post Report Copyright Violation | |
Serenity777
User ID: 1129812 United States 08/01/2012 12:58 PM Report Abusive Post Report Copyright Violation | Thank you OP for having an ADULT market thread. watching the "run up" to the elections and the "hopes and dreams" that are built as a result is like watching a dead mouse that is still able to make his exercise wheel go around because his nerves are still twitching that familiar motion... |
Anonymous Coward User ID: 21058743 Portugal 08/01/2012 01:00 PM Report Abusive Post Report Copyright Violation | |
AmericanJedi
User ID: 1503533 United States 08/01/2012 01:00 PM Report Abusive Post Report Copyright Violation | This isn't an 'algorithmic' glitch. This is the shit hitting the fan. Bernanke is supposed to announce QE3 this week, but there is a great deal of chatter that everyone knows it's pissing in the wind. [link to live.wsj.com] (GLP aka American Jedi) Listen here you beautiful bitch, I'm about to fuck you up with some truth. Kenny Powers If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare. American Jedi Intellectuals solve problems, geniuses prevent them. Albert Einstein Satis Eloquentiae, Sapientiae Parum.... "The last of the old?" "No, the first of the new." |
Anonymous Coward User ID: 9277476 United States 08/01/2012 01:00 PM Report Abusive Post Report Copyright Violation | Related in any way? This story was really big at one time... [link to www.youtube.com] |
Anonymous Coward User ID: 9277476 United States 08/01/2012 01:01 PM Report Abusive Post Report Copyright Violation | Posting the link in two parts so I don't get baned. Quoting: Anonymous Coward 9277476 Related in any way? This story was really big at one time... [link to www.youtube.com] OK that didn't work. try this [link to www.youtube.com] |
Baltar
(OP) User ID: 14348632 United States 08/01/2012 01:06 PM Report Abusive Post Report Copyright Violation | Posting the link in two parts so I don't get baned. Quoting: Anonymous Coward 9277476 Related in any way? This story was really big at one time... [link to www.youtube.com] OK that didn't work. try this [link to www.youtube.com] wow, never heard of that. Will look into it, thanks! The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane. ~Marcus Aurelius |
Baltar
(OP) User ID: 14348632 United States 08/01/2012 01:12 PM Report Abusive Post Report Copyright Violation | Coluld some one in simple words explain what this thread is about? Quoting: Anonymous Coward 21042590 Thank you! I was thinking the same thing! I'll try this again, and do my best, but realize that I have worked in this field for about 25 years, so I may make assumptions about what people know - for which I apologize For example, to explain this thread, you need to know what a future is, and what a stock quote is. This is a stock quote: [link to img268.imageshack.us] The left column is what people are willing to pay for a stock, the right column what sellers are willing to sell. The column to the right is the sales which have already taken place There's a middle column on the top labled "% Change". That's how much the stock is up or down Generally stocks are up or down 5%, 10% on either very good news (great earnings, a buyout) or terrible news (a lawsuit, big losses) However, this morning, all of these various stocks opened up or down randomly 10-15% on no news, for no reason at all That would be like opening up your credit card statement, and being up $3000 in charges when you never made a purchase, or the opposite This is a kind of software chaos which has ripple effects Does that help? The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane. ~Marcus Aurelius |
Eat the Rich User ID: 21022669 Spain 08/01/2012 01:14 PM Report Abusive Post Report Copyright Violation | |
Baltar
(OP) User ID: 14348632 United States 08/01/2012 01:14 PM Report Abusive Post Report Copyright Violation | Yesterday, someone dumped a huge number of S&P 500 futures after the close. That is either a major mistake (but again, what is wrong that that kind of huge mistake is taking place) or...someone or some firm is not confident of the future of the market, and is unloading positions and going to cash. This morning, Knight Capital Group, one of the main companies responsible for stock qutoes, had unusual technical problems, causing 148 stocks to either gap down 10-15%, or gap up 10% or higher on no news In other words, the computers running the stock market in the US are acting very strangely and no one can explain why Another example of very strange behavior was the "flash crash" some years back It makes people very nervous when something controlling so much money, which influences financial markets around the world, is acting as if possessed In light of yesterday's electric grid shut down in India and a few other unexplained events, it is just adding to the general sense that something isn't quite right behind the scenes Remember when the ATMs in the UK weren't working, and millions of people were affected, and couldn't get their money? That is another example of these weird software glitches at the highest levels of banking and finance The weird thing is that in 1999, everyone was expecting this kind of issue when the calendar rolled over, Y2K fears Nothing happened. But now, this is going on.... The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane. ~Marcus Aurelius |
Anonymous Coward User ID: 10478415 United States 08/01/2012 01:15 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1209956 United States 08/01/2012 01:18 PM Report Abusive Post Report Copyright Violation | |
Baltar
(OP) User ID: 14348632 United States 08/01/2012 01:18 PM Report Abusive Post Report Copyright Violation | I sure hope so $KCG -23.33% 7.93. August 7.50 puts from .15c low to .75c, 10,900 vol: [link to img826.imageshack.us] August $10 puts +1433%, 2.35c: [link to img546.imageshack.us] Someone is making money, thats for sure Knight stock was down 26% at the low of the day, yikes The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane. ~Marcus Aurelius |
Anonymous Coward User ID: 1471245 United States 08/01/2012 01:20 PM Report Abusive Post Report Copyright Violation | |
Baltar
(OP) User ID: 14348632 United States 08/01/2012 01:23 PM Report Abusive Post Report Copyright Violation | So, could someone be doing this specifically to manipulate the Fed decision? Quoting: Anonymous Coward 1209956 Well the indices don't look too bad, which is might push the fed to act, along with the very weak manufacturing nunbers So for now, this is something happening in the background But the issue is this: this morning it was only 148 stocks Questions that remain unanswered to any satisfaction are: 1) Is the problem fixed? 2) Could this happen again later today, or tomorrow morning, triggering more selling, which could trigger stop losses and possibly lead to a flash crash? 3) Is the problem contained within Knight Capital, or is a hacker or virus causing the problem? 4) Is the dumping of mini S&P futures a mistake, or an early move by someone or someones who are aware of a reason why the markets could make a sharp move lower? So, although right now things look largely calm on the surface after that morning chaos, serious questions remain The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane. ~Marcus Aurelius |
AmericanJedi
User ID: 1503533 United States 08/01/2012 01:24 PM Report Abusive Post Report Copyright Violation | 30 million in the pipeline, don't worry. If you have ever read anything I have posted about the housing market you will understand what I mean. Quoting: Starlit Explain... (GLP aka American Jedi) Listen here you beautiful bitch, I'm about to fuck you up with some truth. Kenny Powers If you steal the dreams of others long enough, sooner or later you'll end up in a nightmare. American Jedi Intellectuals solve problems, geniuses prevent them. Albert Einstein Satis Eloquentiae, Sapientiae Parum.... "The last of the old?" "No, the first of the new." |
Eat the Rich User ID: 21022669 Spain 08/01/2012 01:24 PM Report Abusive Post Report Copyright Violation | I sure hope so $KCG -23.33% 7.93. August 7.50 puts from .15c low to .75c, 10,900 vol: [link to img826.imageshack.us] August $10 puts +1433%, 2.35c: [link to img546.imageshack.us] Someone is making money, thats for sure Knight stock was down 26% at the low of the day, yikes I'd rather take it and run now. They might be bust in an hour. |
Anonymous Coward User ID: 14457252 Germany 08/01/2012 01:28 PM Report Abusive Post Report Copyright Violation | |
Eat the Rich User ID: 21022669 Spain 08/01/2012 01:28 PM Report Abusive Post Report Copyright Violation | |
Baltar
(OP) User ID: 14348632 United States 08/01/2012 01:28 PM Report Abusive Post Report Copyright Violation | 30 million in the pipeline, don't worry. If you have ever read anything I have posted about the housing market you will understand what I mean. Quoting: Starlit I know there is a very large shadow housing inventory which they are pretending doesn't exist The talk is that Bernanke will try and target the mortgage market with any possible QE moves this week, to try and free up lending so that inventory will start moving However, despite that happy talk, we both know that the US housing market will not really recover unless 1) the JOB market improves and wages improves 2) younger workers are able to earn enough to feel comfortable paying back both those huge student loan debts AND take on a house mortgage as well They say the young are putting off starting families because of the debt burden they're carrying. Until this improves, who is going to be buying the millions of high priced homes the retiring baby boomers are going to be putting on the market ? But that is not an acute issue. Gyrations today in the market suggest either a total disorganized screwup in the software end, or a move ahead of a possible imminent shock to the system I'd rather think its the former, but not ready to rule out the latter.... Last Edited by Baltar on 08/01/2012 01:29 PM The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane. ~Marcus Aurelius |
Anonymous Coward User ID: 21064305 United Kingdom 08/01/2012 01:28 PM Report Abusive Post Report Copyright Violation | Might be because the Federal Reserve is about to be closed... MAJOR EVENT: Liens Filed Against All 12 Federal Reserve Banks [link to divinecosmos.com] ... check out the liens themselves. |
Anonymous Coward User ID: 13363335 United States 08/01/2012 01:29 PM Report Abusive Post Report Copyright Violation | |
ANNONYMOUS User ID: 8415236 United States 08/01/2012 01:34 PM Report Abusive Post Report Copyright Violation | In relation to my previoius reply I just checked the volume on three hot stocks I follow. BVSN/SYNC/JIVE and in all cases the volume so far today is about 1/3 of the normal. More grist for my assertion they are allowing only phone orders NO COMPUTER trading. |
Therion156 User ID: 1461665 United States 08/01/2012 01:35 PM Report Abusive Post Report Copyright Violation | I postulated in another thread that BDI Index is down about 90% of its 2007 high.... shipping requires credit...lots of credit when the goods float.... if credit is not available, goods simply dont float.... Me thinks we are watching a credit event become exposed.... think about the effect of exposing the LIBOR manipulation on the credit providers & derivatives market! Risk on has prolly moved exponentially.... global credit is possibly disappearing creating illiquidity.... the sale of 60,000 e-minis at yesterdays close & following sell off this morning may indicate that big players are seeking liquidity before there isnt any! HMMM! |
Saddletramp
User ID: 726900 Puerto Rico 08/01/2012 01:41 PM Report Abusive Post Report Copyright Violation | Perhaps someone knows what the Fed is going to say this afternoon?!?!? And this sell off is a reaction to that insight, covered as a computer glitch... Just a thought... "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
Baltar
(OP) User ID: 14348632 United States 08/01/2012 01:43 PM Report Abusive Post Report Copyright Violation | Perhaps someone knows what the Fed is going to say this afternoon?!?!? And this sell off is a reaction to that insight, covered as a computer glitch... Quoting: Saddletramp Just a thought... The Fed, the ECB or possibly both will disappoint I had recommend shorts on SLV yesterday on the technicals, which suggested that many were anticipating the Fed would NOT ease in a way that would move either markets or metals I begin with the assumption that markets are manipulated and there are quite a few who are aware of news before it is released to the rest of us plebes lol The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane. ~Marcus Aurelius |
Anonymous Coward User ID: 20519689 United States 08/01/2012 01:45 PM Report Abusive Post Report Copyright Violation | Perhaps someone knows what the Fed is going to say this afternoon?!?!? And this sell off is a reaction to that insight, covered as a computer glitch... Quoting: Saddletramp Just a thought... Yep and explains the hot air pumped into the markets recently. The fed prolly gonna be giving up some real bad news and no QE3. |
Anonymous Coward User ID: 14457252 Germany 08/01/2012 01:46 PM Report Abusive Post Report Copyright Violation | Perhaps someone knows what the Fed is going to say this afternoon?!?!? And this sell off is a reaction to that insight, covered as a computer glitch... Quoting: Saddletramp Just a thought... You might be right on that score... NEW YORK (Reuters) - Stocks edged up on Wednesday ahead of the Federal Reserve's policy announcement, but traders were focused on unusually high volume in dozens of NYSE shares. An apparent computer glitch at market maker Knight Capital <KCG.N> caused a surge in volume in about 150 shares at the market's open, distracting investors from the Fed's two-day meeting that concludes in the afternoon. [link to www.cnbc.com] |
Therion156 User ID: 1461665 United States 08/01/2012 01:47 PM Report Abusive Post Report Copyright Violation | Looky...TNX yield up 1.21%..... evidence could be indicating that a systemic liquidity\credit crisis is rising out of the economic abyss..... Consider this too.... blaming the sell-off on algos & computer glitches\stuxnet etc. provides a technical excuse to temporarily shut down equity & bond markets! Say wasn't Russia forced to shut down their markets about a month ago along with several other countries??? |