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And...It's Gone

Tyler Durden's picture




 

Damn that was fast. The fast reading robots have been unleashed.

 

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Mon, 06/21/2010 - 15:36 | 425355 MsCreant
MsCreant's picture

Pull back in Gold to $1233.

Mon, 06/21/2010 - 15:39 | 425359 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

"M"arket "M"akers have to get it low for Op/Ex and at a good buying price for next week; Hollywood Futures or not!

Mon, 08/23/2010 - 02:14 | 537028 qrs521
qrs521's picture

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Mon, 06/21/2010 - 16:13 | 425432 walküre
walküre's picture

Classic shake out attempt.

 

Mon, 06/21/2010 - 16:50 | 425535 Greed
Greed's picture

Classic Margarittaville

Mon, 06/21/2010 - 16:52 | 425548 Greed
Greed's picture

Classic Margarittaville

Mon, 06/21/2010 - 20:11 | 425823 Papasmurf
Papasmurf's picture

After six margaritas, I'm seeing double.

Mon, 06/21/2010 - 20:25 | 425841 hardmedicine
hardmedicine's picture

whoever junked this why don't you pull your head out your ass and sometimes watch a comedy show.  I love zero hedge.  It is possibly the only really "fair and balanced" news I actually find on a daily basis.

 

Please, if you don't understand it, DON'T just assume that, therefore, it must be irrelevant and non-productive

Tue, 06/22/2010 - 02:27 | 426325 Problem Is
Problem Is's picture

It was probably Jimmy Buffett... He lost money with Bernie Madoff...

Mon, 06/21/2010 - 15:41 | 425360 Cyan Lite
Cyan Lite's picture

This is starting to become a bit too easy...

Mon, 06/21/2010 - 15:43 | 425368 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Ben Shalom don't sweat, don't ya know?

Mon, 06/21/2010 - 15:41 | 425363 HarryWanger
HarryWanger's picture

And "somehow" they manage to keep SPX above the 200dma. I imagine someone's head would roll if it closed below.

Mon, 06/21/2010 - 15:42 | 425364 breezer1
breezer1's picture

what about a program to speed up delivery or buy at reduced premium? i'd be interested.

Mon, 06/21/2010 - 15:42 | 425365 Cursive
Cursive's picture

Yeah, I'd sleep easy at night if I owned equities.  NOT.

Mon, 06/21/2010 - 15:43 | 425367 Miles Kendig
Miles Kendig's picture

So thin you can see right through it...

Mon, 06/21/2010 - 15:45 | 425372 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Calista Flockheart...uh, eat your...er, heart out.  hmm.

Mon, 06/21/2010 - 15:43 | 425370 johngaltfla
johngaltfla's picture

DOINK.

Wow, nice move sports fans. The CNBC cryfest begins in 18 minutes.....

Mon, 06/21/2010 - 15:56 | 425396 HarryWanger
HarryWanger's picture

They'll be all excited again about how the SPX tested its 200dma successfully again. They'll tell us how that shows market strength, etc., etc.

Mon, 06/21/2010 - 15:49 | 425381 What_Me_Worry
What_Me_Worry's picture

Everyone got to grin and pull their hair out today.  Luckily, I got to grin last.

Mon, 06/21/2010 - 15:52 | 425385 Bam_Man
Bam_Man's picture

Just more normal "action" in the crooked casino.

Nothing to see here. Move along.

Mon, 06/21/2010 - 15:53 | 425390 Boilermaker
Boilermaker's picture

I guess their foot accidently slipped off of the brake pedal under the table skirt as the big wheel was spinning round-and-round to the amazement of the patrons.

Mon, 06/21/2010 - 15:52 | 425386 Boilermaker
Boilermaker's picture

Look at the rampant and panic shoves upward to try to get this positive for the day. 

Jesus...pathetic.

Mon, 06/21/2010 - 15:53 | 425389 M31Capital
M31Capital's picture

Silver options expiration in 3 days, bunch of calls where in the money with a strike of $19.  Not anymore.  

Mon, 06/21/2010 - 18:32 | 425687 DosZap
DosZap's picture

M31,

As you all say here.,,,,,,,,,,,,,,,,,just like clockwork.

On CUE!!!!!!!!!!!!!!!!!....Maestro!

Mon, 06/21/2010 - 15:56 | 425397 Rick64
Rick64's picture

Another beautiful day.

Mon, 06/21/2010 - 15:58 | 425402 walküre
walküre's picture

For fucks sake. I almost threw in the towel this morning when I saw that futures ramp job. At one point last night, S&P Futures up 29 points.

[sarc]What the fuck is going on there?[/sarc]

LOL.

Mon, 06/21/2010 - 16:00 | 425406 HarryWanger
HarryWanger's picture

And everything was right in the world once again. SPX held its 200 dma and it appears /ES will as well. Nicely done market. We always know we can count on you.

Mon, 06/21/2010 - 16:01 | 425409 Boilermaker
Boilermaker's picture

TA-DAH!

Mon, 06/21/2010 - 16:11 | 425429 firstdivision
firstdivision's picture

Going down right now, but with how low volume was today, distribution may be the big mover right now.

Mon, 06/21/2010 - 16:01 | 425408 Bam_Man
Bam_Man's picture

Anyone foolish enough to still be playing in this sandbox deserves to have their milk money and lunchbox stolen.

Mon, 06/21/2010 - 16:22 | 425452 Cognitive Dissonance
Cognitive Dissonance's picture

So you're the one. I would like my Superman/Lois Lane lunch box back please.

Mon, 06/21/2010 - 16:28 | 425470 Bam_Man
Bam_Man's picture

It's not me. They got my Smurfs lunch box and a half roll of nickels a long time ago...

Mon, 06/21/2010 - 16:37 | 425494 Canucklehead
Canucklehead's picture

I lost my Bonanza lunchbox many moons ago.  I sure miss Hoss, Little Joe and Adam...

Mon, 06/21/2010 - 20:07 | 425815 Dadburnitpa
Dadburnitpa's picture

What about that bitchy little Hop Sing?

Mon, 06/21/2010 - 22:29 | 426039 WeeWilly
WeeWilly's picture

The Rifleman ruled!

Tue, 06/22/2010 - 02:33 | 426327 Problem Is
Problem Is's picture

I got my ass kicked with a football for having a Charlie Brown lunch box...

Mon, 06/21/2010 - 16:01 | 425410 Gimp
Gimp's picture

Skim job, Get the suckers in in the morning and take their money before close. Classic.

Expect market down this week with opt/exp.

Mon, 06/21/2010 - 16:06 | 425418 truont
truont's picture

Number 5 is ALIVE!!!!

Mon, 06/21/2010 - 16:09 | 425423 Treeplanter
Treeplanter's picture

Not crying here.  Went to cash from miners when I assumed no hope for rally.  Maybe wait for Thurs. to buy back in and add some small miners that show resilience.   Thanks to GS and JPM.  Onward Golden Soldiers...

Mon, 06/21/2010 - 16:10 | 425425 Let them all fail
Let them all fail's picture

Haha, nice South Park reference....classic episode

Mon, 06/21/2010 - 17:52 | 425628 AndItsGone
AndItsGone's picture

This line is for customers with money in the bank ONLY!

Mon, 06/21/2010 - 16:12 | 425430 walküre
walküre's picture

This week is BULLISH. I'm telling you all the NEW and EXISTING home sales will BLOW you away.

More blow power than that geyser on the bottom of GoM.

Everyone in America is buying NEW and EXISTING homes. Lots of them. I hear people are loading up on houses, NEW and EXISTING houses.

 

 

Mon, 06/21/2010 - 16:15 | 425436 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The same people that are no longer paying mortgages on their old and/or non-existing homes???

Mon, 06/21/2010 - 16:18 | 425442 firstdivision
firstdivision's picture

How could one not load up on houses when they are being givin away in every cracker jacks box?

Mon, 06/21/2010 - 16:24 | 425454 bob_dabolina
bob_dabolina's picture

Walkure

I don't know where you are getting your information but that is unequivocally wrong.

I work with real-estate agents from around the country everyday, and they are all saying the exact opposite.

I would expect a complete blowout to the downside.

Mon, 06/21/2010 - 16:38 | 425498 walküre
walküre's picture

It doesn't matter what you expect or what anyone who is actually involved in the industry says anymore.

The numbers will be supercalifragilisticexpealidocious!!!!

.. and let's not forget store sales and GDP!

US GDP will be AWESOME!

Mon, 06/21/2010 - 21:22 | 425921 AVP
AVP's picture

+1...supercalifragilisticexpealidocious!!!!

Mon, 06/21/2010 - 21:26 | 425934 PhattyBuoy
PhattyBuoy's picture

... that is great news ... I am ALL IN !

Mon, 06/21/2010 - 16:54 | 425551 TonyV
TonyV's picture

Bob, you need to adjust your sarcasmometer.

Mon, 06/21/2010 - 21:26 | 425935 AVP
AVP's picture

I thought everyone knew that. My, I just bought three today and think I'm going to buy a couple CRE properties tomorrow......don'tchaknow :)

Mon, 06/21/2010 - 16:14 | 425435 Joe Shmoe
Joe Shmoe's picture

Hey guys,

I couldn't resist.  I emailed Citi.  I asked them (investor relations) for info about their HFT operations.  Know what?  We can get our own robot!  (but we have to be an institution) Here's how:


The high-frequency trading business unit would be Automated Trading Desk; a broker business, which does no public retail trading. Further information at this time can be found at www.atdesk.com.

Separately, we also have Citi Algorithmic Trading, which conducts primarily institutional businesses. Public information can be found at:https://icg.citi.com/global_markets/product_solutions/global_equities/self_dir_trade.jsp.

Hopefully this helps.

Kind regards,
Citi Investor Relations

 

Mon, 06/21/2010 - 16:19 | 425444 Hungry For Knowledge
Hungry For Knowledge's picture

Let's start one!

Mon, 06/21/2010 - 18:23 | 425673 115spider
115spider's picture

Pretty easy provided you have

 

1) Quant analysis experience and can write effective algos

2) access to the exchange server farm via a co-location from a friendly broker

3) developed a full STP flow to reduce costs

4) figured out the exact size of clip you need to queue jump the littleguy according to the exchange order placing algos

5) how to organise the hedge to avoid excessive margin funding costs

The last and most difficult bit is building the "panic" button - a single device which liquidates the entire portfolio held in the position management system via an order router instantly, including intraday positions.

Mon, 06/21/2010 - 22:08 | 426001 Joe Shmoe
Joe Shmoe's picture

Uhm... I was kidding.

Mon, 06/21/2010 - 16:16 | 425438 singlemalt
singlemalt's picture

What program/service does Tyler use to generate these charts?  Anyone know?

Like a previous poster in other similar threads, I'm still trying to get a handle on what this means to someone who might want to take advantage of this arbitrage situation (if possible).  However, I struggle with the same concepts as that other poster, the key one being the difference scales, and the seeming arbitrary linkage of those scales.  I figure that playing around with the charts myself may shed some light on the question.

 

Mon, 06/21/2010 - 16:27 | 425451 hedgeless_horseman
hedgeless_horseman's picture

If you don't know a Bloomie chart from a hole in the ground, then you should definitely NOT be considering a currency/equities arbitrage. Stick with arbing Orbitz price guarantees on you family's European vacation. 

Mon, 06/21/2010 - 23:03 | 426092 ZeroPower
ZeroPower's picture

lol. nice.

Mon, 06/21/2010 - 23:57 | 426165 Jones79
Jones79's picture

yeah, that was hilarious

Mon, 06/21/2010 - 17:50 | 425624 bob_dabolina
bob_dabolina's picture

It's a Bloomberg Terminal and you probably can't afford it.

Mon, 06/21/2010 - 18:09 | 425652 115spider
115spider's picture

My Tier 2 employer cant afford it either...Reuters bites...

Mon, 06/21/2010 - 18:57 | 425723 scratch_and_sniff
scratch_and_sniff's picture

How expensive are they? I could masturbate over those charts, forget the arbing. I don’t want to talk to a Bloomberg rep; knowing that i have absolutely no intensions of buying.

Mon, 06/21/2010 - 21:52 | 425970 Jace0228
Jace0228's picture

One of my clients has a bloomberg, and he wont let me kneel and pray in front of it...

Mon, 06/21/2010 - 16:19 | 425446 CPL
CPL's picture

All I can say I love X3 ETF's on horseshit open rallies.  Like setting a watch except setting watches don't make me 4k.

 

Man were they pushing hard on gold though.  The idiot sticks on the trade desks must be assuming like anyone gives a shit about the Yuan being unpegged.  Anyone in their right mind wouldn't be long on any paper right now.

Mon, 06/21/2010 - 16:28 | 425469 Muir
Muir's picture

Congrats ZH yet again!

Today you were just so spot on with so many posts, Spain, FX arbs....

Impressive. 

Mon, 06/21/2010 - 16:33 | 425481 aaronvelasquez
aaronvelasquez's picture

Mon, 06/21/2010 - 16:43 | 425512 buzzsaw99
buzzsaw99's picture

NO SOUP FOR YOU! [/soup nazi]

Mon, 06/21/2010 - 16:50 | 425539 TonyV
TonyV's picture

OMG they killed Kenny!

Again!

Mon, 06/21/2010 - 17:33 | 425604 jkruffin
jkruffin's picture

Any bet takers out there how bad this housing data tomorrow is going to be?  And how CNBC will try to pump it as good?  Art Cashin will be so red-faced in the morning from his futures losses, you will think he got bitch slapped by his momma again.

Mon, 06/21/2010 - 22:36 | 426049 WeeWilly
WeeWilly's picture

One of my buddies is in commercial and residential real estate in the Charlotte market. Today he told me their last month was the best in two years. We'll see...

Mon, 06/21/2010 - 17:37 | 425608 AccreditedEYE
AccreditedEYE's picture

Indeed a good day... nothing like giving up all the gains they pimped all weekend. However, I am not going to get too comfortable till we close firmly below 2150 Nasdaq 1040 S&P. We got to fight every day for what's ours till then.

Mon, 06/21/2010 - 17:41 | 425614 wannabe
wannabe's picture

http://www.youtube.com/watch?v=RAKsMnAM8vk

since no one else is posting it. Never gets old

Mon, 06/21/2010 - 17:41 | 425615 oklaboy
oklaboy's picture

nothing here, move on, move on........tap.tap.tap

Mon, 06/21/2010 - 18:27 | 425679 FrankIvy
FrankIvy's picture

So this is a chart of S&P500 vs. a Forex ratio I assume.  Can anybody explain to this newb why the chart uses "ESUO" rather than S&P or ^GSPC?

Thanks for any disabuse.

Mon, 06/21/2010 - 23:03 | 426091 ZeroPower
ZeroPower's picture

Not exactly the SPX but the futures. Front month, which now is U (or, September. Was June before it expired, or M). The forex ratio is relevant for the carry trade.

Tue, 06/22/2010 - 08:42 | 426478 FrankIvy
FrankIvy's picture

Ahhh.  Much appreciated.  Makes more sense with that information. Thank you.

Mon, 06/21/2010 - 18:49 | 425706 bluebare
bluebare's picture

It's pathetic that an ignorant nube like me can see and understand the market manipulation that's occurring.  Thanks for an  education that's saving me stress and bux, ZHers.

Tue, 06/22/2010 - 06:53 | 426408 dvsteenk
dvsteenk's picture

anyone got a clue who was involved in the following EU futures trading action on 22 June (today)?

* at around 12:01 (GMT+1h) about 14000 STOXX50 futures, followed by heavy trading and a reversal of the preceding downdrop in STOXX50, CAC40 and DAX, which resulted in a breakout from today's lowest level

* smaller, but also significant, at around 11:45 (GMT+1h) about 2000 CAC40 futures

Such much larger one minute trade volumes (2000, 4000, 14000) reoccur quite regularly in intraday futures charts and often precede trend reversals

They may correspond to regular hedging activities by "people with superior forecasting abilities". Or can I call them manipulations? Analysing these activities may show who is "driving" the futures markets in a certain direction on an intraday and weekly timescale. Is it the market itself? Or a trader? Or a group of traders?

Also strange jumps and drops last night in S&P futures by the way...

Tue, 06/22/2010 - 06:59 | 426410 dvsteenk
dvsteenk's picture

...and what amount of cash such a trade volume represent, like for instance the 14000 Eurostoxx50 futures volume, how much would be needed if in a single transaction?

Lots of questions...

Tue, 06/22/2010 - 03:06 | 426342 Brett in Manhattan
Brett in Manhattan's picture

Strikes me as bullish action: minesweeping the dow 10.5k area for a future assault.

 

Tue, 06/22/2010 - 07:47 | 426435 Leo Kolivakis
Leo Kolivakis's picture

Big time bullish...wait, summer meltup straight ahead.

Tue, 06/22/2010 - 14:41 | 427289 ZeroPower
ZeroPower's picture

If May was any indication, this summer will not be one to be long stocks, much less any sort of solar.

Oh wait, today's looking bright, 50 handles on the S&P!!1

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