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And Now The Algos Take The Market Higher
This market is a joke: 3 days after the powers that be ended up causing
the biggest market crash in history, they have now pushed the autopilot
button, which basically means nobody among the 5 entities that still
trade, is allowed to sell. And the algos chase every offer into the
stratosphere. This will continue until the next time the banks needs to
pass a Trillion dollar bailout or push a few hundred billions in
treasury supplyand get all the idiots chasing after the "riskfree" assets.
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Ag over 19 thx EU bailout.
ive done a full 180 on this - let it go, let em do it all day - the next 1000 drop not gonna have the hope of a trillion dollar euro bailout on the other side of it
and then? ... I WILL RULE THE WORLD!!! BWAHAHAHAHHAHAHAHAHA
FINALLY... a plan to take over the world in a single night that will probably work.
Your avatar would be ashamed of you.
i agree - go algo's take it up. the gig is up for the PD's. they are impotent now....!
They wonder why gold and silver is going up when they have turned the markets into a game of monopoly.
Regulators obviously colleting their weekly brown paper bags.
The fact that gold and silver are on a continuous rise tells you where the markets would be if the corruptors were put in jail instead of manipulating the market.
I have 2 words for the novice trader - STAY OUT.
Yeah, I second that.
I am a novice trader, but I have now been at this for a year. I would make a slightly different recommendation. If you actually need the money you are trading, I fully agree. Don't go anywhere near this market.
But if, like me, you have a small amount of money separated from your "eating money" that you can genuinely afford to lose (all of it perhaps even), I recommend playing around in this market. The learning experience I have gone through over the past year has been an amazing education. And there's no way to get the full flavor of that until you have taken the beatings that come from really having something at risk. Sure, I said already this money is not going to bankrupt me, but having put real money in this beast and watched it chew me up and spit me out, I have learned a ton. Now a year later, I am beginning to get a clue, and am able to hold my own. I'm not getting rich, but I've learned a lot about how to avoid getting poor.
So if you've got a little money to spend (in the beginning, make no mistake, you will be SPENDING it, not winning), you can learn a lot by being jerked around in the rough and tumble of this raw manipulation. It's the cost of an education.
You dont mind loosing it as entertainment- fine. One in a million speculators keep the money they make. Others loose it back to the market. The only one who makes money is your broker.
Now where is that air sickness bag I usually keep in my desk?
I'm sitting here happily on my physical, NEM, NG, GRS, AUY, PHYS, CEF, GTU, HL, PAAS, etc (not investment advice), doing some consulting work, and during a break I fit a new extended safety to a 1911. I'm comfy; it don't get much better than this.
Here try one of mine:
http://williambanzai7.blogspot.com/2010/05/sickness-bag.html
Thanks for lending me yours WB7. I assume you don't want it back? :>)
My concern with metals would be when they are perceived as a threat they could take a big beating by coordinated program trading.
then don't TRADE it....OWN it.
Take Delivery
coordinated algo trading only works with worthless stuff, e.g. stocks. the banks are too smart to trust each other with something that has an actual value.
Wait a minute ... banks own something with "actual" value? Quick, tell me what it is ... before I fall out of my chair.
Good lord, did I pick the WRONG time to try to understand this animal. I'm such a fucking newb, it's scares me to death. I'm so glad you guys are telling "me" that it's all decoupled, manipulated and out of control or I'd be asking for a refund on my eco 101 class, lol. The only thing that makes sense is physical PM's.
I feel I should just start popping pop-corn about 6am and keep going til the markets open so I have enough to for the day while I watch this epic failure of a world economy burn like a monk.
- here, read this.
http://fofoa.blogspot.com/
my head hurts and my eyes are bleeding.. that was a lot to absorb and quite honesty, I'm not sure I understood all the bankster talk. I Hope I have this correct, but he's basically saying that this shadow gold market is heavily OVER leveraged and there isn't enough gold to back it up should someone want to take physical delivery of thousands of tonnes of bullion. Thusly, the current value of gold is, in fact, 5-10x more than it is at this time? did I get that right?
- that is the jist of it, and the possibility of Governments resetting the price of Gold much higher ( ~ $30,000 an ounce).
"1933 and 1971...
not enough gold to back the paper.
Today: Paper Gold (ETFs or other)
Same as before--not enough gold to back the paper. The creation of this paper did two things:
1) satisfied demand for gold
2) offered a means to suppress the price and mask the real problem"
- Problem: not enough gold to back the paper
- Solution: reset the price of gold
i have two words for lloyd blankfein - FUCK OFF
Your still alive??!!!
wow you aren't fooling anyone. You neurosis is showing, how embarassing.
He left is fly open again? Harry, zip up please.
Where did your parents take you on vacation?
Disney World for a recharge. Filled up on fantasy popcorn and had a private conference with Dopey for trading tips.
No. You. Didnt.
You said were running long with a 10% stop from the highs, AAPL fell more than 10%.
Now fuck off, this is boring.
Yes. Stopped out on meltdown then jumped in. That's why you use stops. I was able to get back in for a ferocious run up after a mere 10% drop in AAPL. Now I tightened my stops to 6% since the likelihood of another drop larger than 5% is miniscule.
What a douchebag.
Tell that to Steve Jobs' liver.
You make me so MAD when you post here! My head is going to explode! Your are a rat bastard.
I AM TROLL FOOD
What the f*ck Harry, focus on your trading instead of trying to impress people on ZH... It's not gonna get you any richer shooting your mouth of with bullshit here.
You sir are lying. It is almost impossible to have filled your stop losses given Thursday's volatility, specially if you are a mere mortal investor and not going through a prime broker.
IF they got filled, they got filled 10 points lower than they were placed. What a douche.
Get a new schtick.
I bet you caught all the stocks at their exact bottoms last week. You are a trading god. You might be the smartest person I've never met.
You lying bastard.
You were sucking dicks behind the Turkish bath in Queens so you could settle your margin account on e-trade.
aaaaaaaaaa ha ha ha ha ha!
truer words have never been spoken.
I used to know a guy like just like Harry. Real high roller. But this guy sucked a dick to keep from getting his legs broken when he discovered it was more fun to shove coke up his nose than to sell it.
He also bought Accenture at .01 (but they cancelled the trade on him) and bought PG at $39.
Maybe he will start a trading signal website and we can all benefit from his knowlege. HE will even tell you when to go on vacation since the market will have historical drops while you are away.
hahahaha
I think this douche believes his own dimented thoughts!
Maybe there needs to be a mechanism for the Harry's of the world where after you reach a certain number of "Junk" citings, your profile is deactivated?
You mean back from raising cash to meet your margin calls?
This isn't a market, the market has gone to market heaven. This is continuous looped simulation from HAL9000.
HAL: I know I've made some very poor decisions recently, but I can give you my complete assurance that my work will be back to normal. I've still got the greatest enthusiasm and confidence in the mission. And I want to help you.
Please, tell me you didn't quote that from memory. Please. :>)
collective memory via the wikibank amigo. got take advantage of it while it's still around ;~)
They will use the citizen's pension money to buy these "riskfree assets". The ultimate sucker the citizen for all their follies and their frauds
moved
This was not a Greek bailout, but a Wallstreet geek bailout.
The money in the swaps turns right around and goes from Euros to spoos. Do not pass go, do not take a vacation in Greece.
It is about saving Wall Street. They own the US, government and serfs. They own Europe and all the peasant rich countries.
+"governments' use of taxpayer's money, equivalent to around 25% of GDP on both sides of the Atlantic, that prevented another catastrophic great depression from occurring." --Trichet (paraphrase from CFR meeting by Forbes April 29, 2010)
But who will watch the Watchers?
GAI watchers do not need watchers to watch on them, unless they developp self consciousness.
Interestingly CL is not following.
EURUSD and China-related worries will take over shortly.
I see very heavy selling into the close. I see ESM0 closing below 1140.
i hope they just cause another all out crash again.
after a second time, they'll look harder at the causes.
eventually after 4 or 5 mega fast insane crashes.. i think we'll ultimately see a ban of HFT and algo trading.
robot markets are trash... and i'm just about done having anything to do with it.
Today's rally will be sold into. Large macro funds know how the algos work and are letting them push up the market so they can reestablish shorts just above the 50-day MA. I think we close with ESM0 near 1135 today.
...book your tickets harry it's time for another "vacation"...
now you come out from under your bed
what a wanger.
More rape for America. How much more will the people take?
BUY EVERYTHING...comon with USD swaps in place and Euro bailout all manner of liquidity hitting street - hollowed out banks have no options except to buy Tresuries and spoos...
SPY creeping up on low-fat high-sugar near-zero volume. Reminds me of the nursery rhyme - Incy Wincy SPYder.
I am trying to understand this.... the market rises on -ve vol accumulation? wtf!
Keep your eye upon the donut (the falling economy) and not upon the hole (the DOW).
I find it hilarious that guys trading odd lots are complainign about lack of volume. Ironic.
As expected the energy complex is rolling over. See what happens to equities next
Until they need to make more money then they will crash it again, take money from mom and pop and report a perfect second quarter. That is how things work around here.
The beatings will continue.
Markets are a joke when they go up but not down? Right, you might want to lay off all this algo talk and just call it like it is - a trillion dollar liquidity tsunami.
Our markets are a joke anymore, truly they are. The head of the exchanges went to congress today or yesterday and none of them know what happened. Then the SEC said that there will be better whatever to make sure it doesn't happen again. Okay folks, the SEC was part of the plan. For the simple fact their computers would know damn well who was selling or buying and where the most of this was coming from. I still believe that the rumor is true, and that is a couple of hedge funds had to unwind/liquidate their portfolios quickly because of what is happening in the EU and possibly here in the US. There keeping it secret because don't all of you remember the problems with hedgefunds almost 2 years ago and Money Markets where people essentially had a run on those instruments and they started to put a halt on redemptions. They don't want that happening again so they are hiding it. Unless someone else has information about this.
I have a new investment plan for you. Short what ever I buy.
Aimlow Joe was here.
http://www.aimlow.com
No Leo, you just dont get it at all do you?
Markets are a joke full stop. when they go up, when they go down, when they collapse in ten minutes, and when theyre driven back up 650 points in 5, even when they trade all day uneventfully. they are a joke.
it is now basically a great big financial computer game that you are plugged into and think is real. it's not, it's at the hands of the programmers, and anyone but programmers (or their employers) who thinks they can win long-term as it is now, is a joker.
the markets are now just a cruel distraction for the masses while they quietly get on with stealing the world.
have you actually seen Fight Club? it really makes me wonder why you want to post on here when you clearly live in the other world that this website is all about exposing.
surely not just for links and traffic to your blogspot site?