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Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more

 
Anonymous Coward
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08/01/2012 12:56 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
9 szerohedge‏@zerohedge

SEC `CLOSELY MONITORING' TRADING AFTER EARLY SWINGS IN STOCKS. Time to Panic
Anonymous Coward
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08/01/2012 12:57 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
someone get bobby pissanti back from lunch
the knight is heading back down

-22%
Serenity777

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08/01/2012 12:58 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Thank you OP for having an ADULT market thread.

clappa
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
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08/01/2012 01:00 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
1 minzerohedge‏@zerohedge

KCG under $8
AmericanJedi

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08/01/2012 01:00 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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
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08/01/2012 01:00 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Posting the link in two parts so I don't get baned.

Related in any way? This story was really big at one time...

[link to www.youtube.com]
Anonymous Coward
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08/01/2012 01:01 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Posting the link in two parts so I don't get baned.

Related in any way? This story was really big at one time...

[link to www.youtube.com]
 Quoting: Anonymous Coward 9277476


OK that didn't work. try this

[link to www.youtube.com]
Baltar  (OP)

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08/01/2012 01:06 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Posting the link in two parts so I don't get baned.

Related in any way? This story was really big at one time...

[link to www.youtube.com]
 Quoting: Anonymous Coward 9277476


OK that didn't work. try this

[link to www.youtube.com]
 Quoting: Anonymous Coward 9277476


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)

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08/01/2012 01:12 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Coluld some one in simple words explain what this thread is about?
 Quoting: Anonymous Coward 21042590


Thank you! I was thinking the same thing!
 Quoting: Anonymous Coward 542383


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
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08/01/2012 01:14 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
What a fucked up story!
I bet they're short their own stock!
Baltar  (OP)

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08/01/2012 01:14 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Another way of putting it:

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
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08/01/2012 01:15 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Anonymous Coward
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08/01/2012 01:18 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
So, could someone be doing this specifically to manipulate the Fed decision?
Baltar  (OP)

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08/01/2012 01:18 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
What a fucked up story!
I bet they're short their own stock!
 Quoting: Eat the Rich 21022669


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
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08/01/2012 01:20 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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.
Baltar  (OP)

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08/01/2012 01:23 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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

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08/01/2012 01:24 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
What a fucked up story!
I bet they're short their own stock!
 Quoting: Eat the Rich 21022669


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
 Quoting: Baltar


I'd rather take it and run now.
They might be bust in an hour.
Anonymous Coward
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08/01/2012 01:28 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Facebook Inc (NASDAQ:FB)
21.01 -0.70 (-3.22%)

Vol / Avg. 27.58M/25.95M
Eat the Rich
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08/01/2012 01:28 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Among the most blatant scams I've ever seen!
Baltar  (OP)

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08/01/2012 01:28 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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
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08/01/2012 01:28 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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
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08/01/2012 01:29 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
Thanks to the crap advice of Patrick Bateman I lost 10 grand in the stock market so why not some more?

skull_fing
ANNONYMOUS
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08/01/2012 01:34 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
5a

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
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08/01/2012 01:35 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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

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08/01/2012 01:41 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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)

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08/01/2012 01:43 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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...
 Quoting: Saddletramp


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
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08/01/2012 01:45 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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...
 Quoting: Saddletramp


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
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08/01/2012 01:46 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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...
 Quoting: Saddletramp


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
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08/01/2012 01:47 PM
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Re: Breaking: Trading Halts, Market Disorder & Chaos > NITE market maker quotes off by 10% > more
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???





GLP