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After Bashing The Entire Market Yesterday, Today Cramer Goes Nuts Against High Frequency Trading

Tyler Durden's picture




 
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Wed, 06/16/2010 - 22:06 | 418500 aint no fortuna...
aint no fortunate son's picture

Sounds like you have a convert and new reader Tyler... be careful what you ask for.

Wed, 06/16/2010 - 22:15 | 418521 Missing_Link
Missing_Link's picture

I have this tingling feeling like a tiny amount of respect for that screaming button-slamming methamphetamine addict is starting to creep into my body.  Is something wrong with me?

Wed, 06/16/2010 - 22:30 | 418551 aint no fortuna...
aint no fortunate son's picture

Be careful with that respect thingie... you KNOW the squid put him up to it, he's still their bitch and garbage disposal.

Wed, 06/16/2010 - 22:35 | 418561 Missing_Link
Missing_Link's picture

Yes, but is the squid always wrong?  If the squid fights a killer shark, that's good, right?  The enemy of my enemy is my friend, and all that  ...?

Wed, 06/16/2010 - 22:41 | 418571 aint no fortuna...
aint no fortunate son's picture

you ever try to make friends with a crocodile? not even crocodiles make friends with crocodiles.

Wed, 06/16/2010 - 22:24 | 418537 ISEEIT
ISEEIT's picture

Whores will always go for the money. The whore Cramer is just following the crowd. He must figure that the post crash TV addicts will give him cred for being on the guest list?

I despise the mind fuck control device of TV.

Wed, 06/16/2010 - 22:36 | 418563 Missing_Link
Missing_Link's picture

I despise the mind fuck control device of TV.

Amen!  I no longer watch that crap.

Thu, 06/17/2010 - 13:00 | 419628 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

If you have not tried going without TV (and I mean for REAL) YOU CANNOT IMAGINE how different existence can be.

It is difficult to describe.  I strongly recommend trying it. 2-3 months and it will never look the same again.

Thu, 06/17/2010 - 02:27 | 418871 Attitude_Check
Attitude_Check's picture

If Cramer is bearish, then expect a BIG uptick in the Stock market in a few weeks!  QE 2.0 rolling out early?

Wed, 06/16/2010 - 22:06 | 418501 Tarheel
Tarheel's picture

You smoking the hashpipe Tyler? U lend cramer credibility by giving him props on your blog.

Wed, 06/16/2010 - 22:52 | 418581 hedgeless_horseman
hedgeless_horseman's picture

I've said before that the pink-tie bald guy on CNBC is Tyler. This is the twist at the end we all know is coming.  The Crying Game 2.0

Wed, 06/16/2010 - 23:55 | 418717 palmereldritch
palmereldritch's picture

Sounds like Fright Club

LOL

Thu, 06/17/2010 - 07:50 | 419032 qualia
qualia's picture

+1

Wed, 06/16/2010 - 22:08 | 418503 Cognitive Dissonance
Cognitive Dissonance's picture

Once the system (and the system players) begins to sense the tide is turning against it/them, the next step in the battle plan is to co-op the truth speakers and the contrarins. When you can no longer fight them, you become one. Or at least enough of "one" to convince the brain dead that you've seen the error of your ways, that God has spoken and you're now listening.

It's all in the book. Just read the book. The playbook I mean.

Wed, 06/16/2010 - 22:42 | 418573 MsCreant
MsCreant's picture

Wonder if the prosecutors need some PR like this (lube the proletariat) and maybe Cramer gets out of some of his deeper doo-doo (thus avoiding some of his own punishment) by doing this? Anything is possible.

Wed, 06/16/2010 - 22:43 | 418575 MsCreant
MsCreant's picture

Or someone hosed him personally and he wants revenge. BAD.

Thu, 06/17/2010 - 03:17 | 418889 ratava
ratava's picture

maybe he got sick of getting eaten by predatory algos. they see your stops and they hunt them even though you are just a retail noone. when it happens for the first time, you don't even notice. the next couple time you refuse to be paranoid. and then it dawns on you. the market is gone, it is just government sanctioned stophunt in the name of recapitalization. why do you think the indexes are this high? the wall of unlimited freshly printed money pushed us here short squeezing leveraged retail suckers.

Wed, 06/16/2010 - 22:48 | 418583 Cursive
Cursive's picture

the next step in the battle plan is to co-op the truth speakers and the contrarins. 

+1  I was just saying this same thing to a guy at work today.  As for Cramer, it's obvious he has been given his marching orders.

Wed, 06/16/2010 - 22:53 | 418595 Cognitive Dissonance
Cognitive Dissonance's picture

"I was just saying this same thing to a guy at work today"

Was that the mud engineer? Remember, I have a PhD in mud engineering from 5 years old. :>)

Wed, 06/16/2010 - 23:00 | 418616 Al Huxley
Al Huxley's picture

Its like the mainstream music industry co-opting punk rock, or gansta rap.  Bring it inside the mainstream, neuter it, and you remove its power and ability to speak to its original audience.

Thu, 06/17/2010 - 02:47 | 418877 thisandthat
thisandthat's picture

I think that is more likely the other way around (caution! I mean it!):

http://marcoponce.com/2009/12/jay-z-kanye-west-the-devil/

 

Thu, 06/17/2010 - 13:07 | 419643 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

THEY don't have to actively 'neuter' things.  As soon as THEY get something into their clutches and merely make direct eye contact with it, it instantly becomes BALL-LESS and SOUL-LESS.

Too bad that many folks are so dazzled by appearances that they have a hard time noticing when something they care about has had the blood sucked out it and is no longer the same thing it once was...

Wed, 06/16/2010 - 22:07 | 418504 Overleveraged_a...
Overleveraged_and_Impatient's picture

He's trying to reach out to 'our' market which is indeed becoming mainstream. What's next? Is he gonna call out Geithner or Bernanke for driving our nation into the ground? Will he call out our bullshit political system with its intricate array of ties to Wall Street and other big money industries?

Let's see what Jim is really made of.

Thu, 06/17/2010 - 02:06 | 418860 GoinFawr
GoinFawr's picture

Well put Overlever'd.  He's talkin' the talk, let's see him take a step or two further.

 

Everytime Cramer speaks it sounds to me like the type of blather you'd use to distract someone as you're lining them up for a sucker punch.

 

Regards

Wed, 06/16/2010 - 22:07 | 418505 rich_maverick
rich_maverick's picture

Yes, Cramer has been a good contrarian indicator in the past.  Trouble with Cramer is that he is not as stupid as he appears sometimes.  The guy knows the game.  The trouble is that you don't know who's side he is out to help: is he a player trying to protect the racket, or is he telling the truth?  I personally don't trust him.  I've learned the hard way that the best liars mix in a good dose of truth with their lies.  That way, they have sufficient plausible deniability when they try to convince you of their lies.

Rich

Wed, 06/16/2010 - 22:17 | 418525 Brett in Manhattan
Brett in Manhattan's picture

"The trouble is that you don't know who's side he is out to help: is he a player trying to protect the racket, or is he telling the truth?"

______

Yeah, the financial elite whose processes have made him a multi-millionaire, or the "Cramericans."

Wed, 06/16/2010 - 23:23 | 418665 Canucklehead
Canucklehead's picture

If you don't know that he's on your side... he is not on your side.

Wed, 06/16/2010 - 22:08 | 418507 Gimp
Gimp's picture

Cramer is well...Cramer.

I need some help fellow ZHer's. Using a simple site such as www.bigcharts.com I looked up the NYSE volume for today and it was:

     1,171,332,000

         972,605,265  was the total volume for three stocks - FRE, FNM and C

  If this is accurate does this mean the NYSE daily volume is only 200 Million??

Please confirm or educate.

Thanks

 

 

 

Thu, 06/17/2010 - 00:09 | 418734 Reductio ad Absurdum
Reductio ad Absurdum's picture

NYSE most active listed here: http://finance.yahoo.com/actives?e=nq

Top ten on this list add up to 1,389,800,000 shares. In order, they are C, BP, FRE, NOK, BAC, GE, F, FAZ, FAS, LVS.

The volume of just the top ten is already greater than the volume 1,173,419,511 given for all the NYSE (verified at http://www.nyxdata.com/Data-Products/NYSE-Volume-Summary).

FNM is not on the list, nor is SPY; for some reason they are not being counted. Yet Investor's Business Daily (http://www.investors.com/NewsAndAnalysis/Article/537519/201006162235/US-...) says:

NYSE volume climbed due to huge trading spikes in Fannie Mae (FNM) and Freddie Mac (FRE). Both will delist their common and preferred shares from the NYSE.

contradicting the fact that FNM is not listed in Yahoo's data summary.

Maybe some of the trades are being performed outside the NYSE.

Wed, 06/16/2010 - 22:11 | 418511 williambanzai7
williambanzai7's picture

I think he is looking atvyour stats and thinking what have I got to lose by telling the truth.

Wed, 06/16/2010 - 22:12 | 418514 bull-market_3.0
bull-market_3.0's picture

this has got to be a bait and switch.

soon as we begin to think Cramer is on our side he will lead us to buy at the precise moment the market crashes to 0.

For now he is attracting people to listen to him. But some time in the future he will screw all his followers.

Wed, 06/16/2010 - 22:13 | 418517 Hedge Jobs
Hedge Jobs's picture

ha! the new motto has a nice ring to it Tyler

this is interesting though, cramer and therefore CNBC positioning themselves in this way. not too sure what to make of it. Maybe even the mainstream are staring to realize the glaringly obvious unsustainability of what is going on. If that is the case we may be in for quite a drop. The HFT's can obvioulsy prop up a market where only the smart money is selling but can they prop it up against a stampede for the exits when the 'crowd" realise they have been duped?

Wed, 06/16/2010 - 22:37 | 418565 Boop
Boop's picture

After yesterday's rant, I got the feeling that they want to trigger the crash... Not a strong feeling, mind you, but this sort of thing might help out.

Wed, 06/16/2010 - 22:46 | 418580 MsCreant
MsCreant's picture

And a run to Treasuries?

Wed, 06/16/2010 - 23:14 | 418648 AccreditedEYE
AccreditedEYE's picture

gotta finance that massive debt roll somehow don't they?

Thu, 06/17/2010 - 07:45 | 419026 Hephasteus
Hephasteus's picture

Yep. And they seem to want everyone back in their bank account as they've been yipping up the deflation myth right and left.

Thu, 06/17/2010 - 01:35 | 418837 No One
No One's picture

I seem to recall that CNBC's ratings skyrocket during a crash.

Thu, 06/17/2010 - 02:17 | 418867 Da Canuck
Da Canuck's picture

I agree. Cramer is not as dumb as he seems. It is obvious to me that the HFTs have screwed up the market, so it surely is to him.

He is trying to set himself up to say "I told you so" in his not so self-deprecating way after the market crashes, and play it over and over again like the "They know nothing" clip.

His dumb "booya" fans will get hurt bad, but will still worship him as a prophet.

Thu, 06/17/2010 - 03:56 | 418910 The Rock
The Rock's picture

" and play it over and over again like the "They know nothing" clip."

EXACTAMUNDO!!

Thu, 06/17/2010 - 08:00 | 419037 Brett in Manhattan
Brett in Manhattan's picture
"I agree. Cramer is not as dumb as he seems. It is obvious to me that the HFTs have screwed up the market, so it surely is to him." __________

Yeah, before HFTs, the market was a beacon of legitimacy:

 

15 Specialists From Big Board Are Indicted

By Jenny Anderson
The New York Times

Federal prosecutors announced the indictment yesterday of 15 former New York Stock Exchange floor traders, who are charged with cheating customers by mishandling trades to enrich their firms.

The Securities and Exchange Commission also filed securities fraud complaints against the 15 and against 5 other traders, saying they had made thousands of illicit trades from 1999 through 2003. The 20 were specialists - traders on the floor of the exchange who manage activity in particular stocks. The Big Board also settled S.E.C. accusations that it failed to regulate its traders properly.

Thu, 06/17/2010 - 13:17 | 419672 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

You left out the part of the article that indicates that these 15 traders had the remarkable capability of trading MERE milliseconds in front of other trades.

Oh, that wasn't part of the story?  Sorry.  I thought you were indicating 'been-there / done-that' -- guess not. 

What was your point?

Thu, 06/17/2010 - 14:46 | 419886 Brett in Manhattan
Brett in Manhattan's picture

That the "Good old days" weren't so good.

Wed, 06/16/2010 - 22:14 | 418519 Ruth
Ruth's picture

Ty, I know you know what you're doing, but please, I refuse to listen to that noise, I take your word for it, he's trying his best to make top bill on ZH.  Sigh... boobooyaya, spellcheckmate!

Wed, 06/16/2010 - 22:14 | 418520 Nolsgrad
Nolsgrad's picture

SDS time?

Wed, 06/16/2010 - 22:19 | 418526 brown_hornet
brown_hornet's picture

All the news I get here on ZH, I see on FOX a week later, on YAHOO a month later and on CNBS a year later.

Good going Tyler.

Wed, 06/16/2010 - 22:22 | 418533 e_goldstein
e_goldstein's picture

thanks tyler,

 

now my eyes and ears are bleeding.

Wed, 06/16/2010 - 22:22 | 418534 buzzsaw99
buzzsaw99's picture

He's still a squid sucking low life.

Wed, 06/16/2010 - 22:22 | 418535 Nevermind
Nevermind's picture

Step away from the (trading) vehicle. 

Wed, 06/16/2010 - 22:25 | 418538 hotkarlandthecl...
hotkarlandtheclevelandsteamers's picture

He is just laying the foundation for his next book "why the market is rigged and how you can prosper".

 

While he bashes the market he still pumps his "Candies" all trading at 50x earnings.

Wed, 06/16/2010 - 22:28 | 418543 lizzy36
lizzy36's picture

Hell has frozen over and piigs are indeed flying.

Is nothing sacred in this world?

Next thing you know ARS will become a fanboy and Tyler will get an HBO contract. 

Do NOT follow this link or you will be banned from the site!