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Europe Opens With A Mini Flash Crash
No volume, deranged computers, and a rate hike: Europe's mini flash crash refutes the market's "welcoming"
of liquidity withdrawal to Goldman's now traditional embarrassment.
Dax futures...
...and IBEX futures
From Serenity Markets:
An extremely nervous market drops hard and I fear that this morning we saw another mini flash-crash. The low volume of Christmas, compounded by
the closed London market, and negligible volume, is making program trading far more obvious. Here is the true essence of the market: machines everywhere. As can be seen on the chart above, the Dax futures minimum of 6915 was hit on almost no volume. For the machines it is very easy to create a genuine flash crash. It is very important to keep this in mind as a demonstration of how easily a machine can sweep a stop.
Goldman is partially right: the Chinese rate hike is welcome by at least one market participant, as Euronext and a few European HFTs just took out all the limit stops to the downside and made a killing on the round trip.
h/t hugovanderbubble
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http://opcionesyfuturos.net/expediente-eurex.html
Explanation by Spanish Trader.
Use traslator.
Translation: "Oops. Spilled my Starbucks on the HFT 2000. 'Had to reboot the damn thing."
what a joke of a market
All the forum
Please watch the SPANISH 10 yr BOND...is the key for a sell off
Above 7% = EURO CRASH ---IMF spanish Intervention
Nobody expects the spanish intervention!
++ Thanks for the laugh.
That was a pretty awesome joke.
"what a joke of a market"
True
But it's not funny...
Waddell & Reed Bitchez!
+1
European Market Comment
"Warum Junk über die Amerikaner Waddell und Reed?"
Why in the name of Xmas spirit would you <JUNK> dukeness?
The same shit happened with oil when futures opened at 00:00. Perhaps to a little bit less of an extent. Fucking weird shit going on..
Remember also one thing
25-26 /dec _TURNING POINT
Today is the first available day for apply Bradley Turning Point
Four seller days...at least...
I expect SP 1228
*Sell DJTransportation Members
*Long Medical Services & Hospitals
Morning All. Quick yes or no question: when stops are triggered by flash crash (FC) are the resulting sells/buys that were initiated by the FC later canceled? I think not- but have read nothing that clearly states otherwise. thnx
i seem to recollect that in the flash crash and afterward some were, some weren't. again rule of men not law. others probably have greater mastery of detail. help?
Googling the question brought up the same conclusion: sometimes yes sometimes not. but your rule of men not law phrase about sums it up. Moral: tread nimbly in market.
Or not at all.
Gold finger...he's the man, the man with the Midas Touch!
It depends on the exchange used to execute the trade. Different ECNs/floors have different "rules" for busting a trade. So... some were broken some were not. The "rules" each ECN uses to determine whether or not to break a trade vary from ECN to ECN and are not published in their entirety. They do this to keep quants/traders from "gaming the system".... bhahaahah... Funny isn't it.
..."Funny isn't it".
Hilarious. especially if you are one of those trusting souls taught to place stops on your positions. nimble is spelled n-i-m-b-l-e. In and out. In and out. Do not linger overnight.
What's the matter with those Europeans?!? Don't they know to just buy the fucking dips?!?
The IBEX basically went no bid AND no offer with up to a 40-50 point range on the bid-ask (what was left of it). Very similar to the 8:30 AM Eastern news events of importance, but in this case it came a little out of the blue first on an opening range breakdown, second on a recovery and gap fill attempt (0.2% gap lower on the open), and then a retest that failed and went to new lows.
The key was that market participants on both sides simply withdrew.
"Turn those machines back on!"
http://www.youtube.com/watch?v=_gekaEzqj5g
Same thing at the same time in the S&P futures by the way.
Treasuries and USD currently favor higher equity prices. Wouldn't be surprised if this morning's lows turn out to be the lows of the week.
Gold dropped 10 bucks out of the opening in Asia this morning. An hour later it was about back where it started. Just some fools getting fleeced, thinking that a rate rise by the PBoC was going to somehow make its 'money' better.
You Got <JUNKED> For Saying Nothing
Wow... The ACLU has a Mute Civil Rights case going here...
Junk for nothing... must be a new Zen thingy. Gotta look into that.
Or, can one look into nothing? Ooh. I need more coffee.
100% no chance of crash here! Just buy the fucking /ES.
Sell anypop...its another way to trade this farce...
Economy China expects exports to slow in 2011
China's foreign trade is expected to slow down in 2011 to a growth rate of about 10 percent, compared with this year's 30 percent, sources with the Ministry of Commerce said.
Which means, 20% less imports from miners plus 10% effect due to "prudent policy" = 30% less demand
My pet line for 2011 (which I admit I stole from a Bloomberg journalist in 2008) is going to be, “There are no more markets, just manipulations”. I didn’t realize I was going to have so many opportunities left to use it in 2010.
How clever and original you are indeed...NOT.
Thats novel - a comment that is more appropriate to the commenter
Ms. Jarrett wants to see you in her office...
Did you just use the most tired, overused, ridden-harder-than-Paris-Hilton cliche from the 90's to emphasize your point about how unoriginal someone else is?
Wow. Mad snaps, yo. Or maybe awesome use of irony. I can't tell anymore.
Yes, and my hat is still better than yours.
+1 downtoolong
Completly agree
PRODIGY described it best:
"Minefield" Lyrics:
This is dangerous. Open up your head feel the shell shock.
This is dangerous. I walk the mindfields so watch your head rock...
I walk through mindfields ha ha ha ...
I walk through mindfields so watch your head rock
I'd prefer something for Blythe...
http://www.youtube.com/watch?v=Lo67bWkNEiE
definitely profound...
Just look at the chart below
Year 1900 = 3.05 % of GDP spending
Year 2010 = 43.85% of GDP spending
http://www.usgovernmentspending.com/downchart_gs.php?year=1900_2010&unit...
And it has nothing to do with FED's spending
How about a few words to briefly explain your point and link?
The explanation is that there is an upside of 56.15% of GDP still to be filled by further government spending.
One way to fill this spending gap is to hire enough civil servants so that every bus and subway car is staffed by at least two uniformed inspectors who can grab your junk before boarding and again on departure.
Another way to fill it is to hire people to go on blogs and disrupt discussions that might have an anti-gov bent to them.
LOL. Full (Part Time) Employment Policy....
Your Corporate owned Government in Action.
Membership has it's privelages. I've got 30 lash bucks on my MasterCard.
LOL....looks like Velospade has already been hired
Don't need to pay me to grab someone's junk... female that is. I see a hot snatch, rack and cooch, I'm goin all in. No payment necessary.
I can across the figures before, I'd have to dig it up the source, but the CIA/DoD etc has a black budget of either 300 or 900$ million per year for people to infiltrate, disrupt, and steer groups, organizations, forums, both online and in real life.
It becomese comically easy to spot the plants, when across all sorts of forums and message boards, they use the same tactics. Take it as an indication that zerohedge has gotten a bit of attention, as there have been alot of these trolls as of late.
That rest of the US GDP (56.15%) is FIRE, minus 7% or so which is US manufacturing moving to China.
Just how is the federal government going to take over FIRE, when FIRE owns the US government?
I prefer to review my government data (slanted, manipulated and just plain made up.. etc) directly from the horses mouth or (rear end)! This link is to a site created by Christopher Chantrill. This is some of the "data" he represents as "facts" on this web site (there are many more but this is representative of the site).....
'Today the government reckons that only 13 percent of adult Americans are “proficient” in literacy and numeracy.'
Here is the link to the NECS study
http://nces.ed.gov/naal/kf_demographics.asp
There are four groupings of the study,
A word like "Proficient" can take on several meanings, but for the context of this study it is narrowly defined, and it doesn't mean that those who are not "Proficient" are illiterate, which is the implied mean when you first read the statement and take it in context with the rest of the paragraph on the web site!!!!!!!
Someone said I need to be more patient in dealing with the "ill informed" (or maybe those less than "Proficient" as defined by the NCES) on this site, so I'll stop my rant here......
Assange Signs Book Deals Worth Over $1.5 Million
Couldn't care less, am out of all longs, just kept and will add to Physical PMs on any opportunity! Shorting is little, few puts here and there, although I don't have much hope of a serious pull back given the printing press!
dont fight the ebb and flow of the FED... just be one with the natural movement, provided by your own tax dollar... even though your money is sperated from you... it still can help you... dont fight the FED and flow the money... believe the hype!
JW has gone all Zen on us. Is there something in the water?
....after 40+ years of investing, this is the same point I have reached....between the Fed's POMO and the HFT there is no room left for fundamental investing...only own a few silver miners, small enough to not be on any machine's radar.
When all this paper is consumed in an instant, turning into a smoking pile of ashes, I hope I don't hear any of you complaining you were never warned.
http://www.youtube.com/user/BrotherJohnF
New ROK drills add to tension on peninsula
Koreas
The announcement by the Republic of Korea (ROK) of naval drills, starting on Monday, has again escalated tension on the Korean Peninsula.
The ROK military plans to stage live-fire drills at 23 locations off its coast from Dec 27 to Dec 31, the ROK Joint Chiefs of Staff said on Sunday.
It is dangerous to have trailing stops. It is dangerous to not have trailing stops. It is dangerous to buy and hold. It is dangerous to bet aginst the Fed. It is dangerous to depend on the Fed and banks.
Those who give the inputs to the computers control all of the price action. Outside of figuring out how the computers are programmed and using the information to make money (which is seemingly illegal bcause the banks are the ones who lose) the ways to win in this market are a) with inside information (illegal for us, but not banks and politicians), b) guessing which way things will be moved (gambling on the banks' moves), c) stay out.
I have made my choice.
How were you using your trailing stops? In what amounts? Percentage or points? Did your trailing orders reside on exchange server, your broker's server, or your trading computer?
I have used trailing stops in a variety of markets with much success.
Wow Velospade, you sure gave it to him with all your pertinent questions. And you've got the right attitude, we're here to get some technicals and to piss other people of with our remarks. Your a pride to the federation Dr Spock.
I didn't give anything to him other than a friendly remark to his post. However I'd sure like to give you a swift kick in the ass. You sure as hell deserve it for all the flying pig pussy douchebaggeriousness you spewed out at me... you fucking pig cunt.
deleted. Copy.
I am not apologizing for what I said to you. How dare you ask. Please delete your request immediateley. Thank you.
Respectfully,
VeloSpade
NOTE TO SELF:
Wash hat tomorrow.
The highs are in for 2011.
Cornhoolio say TP for your bunhole
At this stage of the game, the risk of loss far exceeds the chance (slim to none) of gain. Looking at the raft of numbers (pay attention to that word: NUMBers) that come out day after day and week after week (of course they are all manipulated but who cares, right?), one is given a false sense of security (I've studied the NUMBers, they fit my model, or some such).
It's good to be sitting on the sidelines and watching the largest bonfire (of vanities and fiat currencies) ever prepared about to be lit.
Outside the box, how many people had figured freak weather into their models? And that show is just about getting started. Weather that can bring entire continents to their knees.
Say hello to supply chain disruption and factor that into the models.
ORI
http://aadivaahan.wordpress.com/2010/11/18/enchanted-mesmerized-en-chained/
B-b-b-but...they said the climate change would only bring us new shipping channels and awesome tree growth. ;)
heh...time to go long snow-mobiles and reindeer eh?
Fun and transport!
ORI
nothing like Red the day after Xmas.. quivering and freezing.
Little shake
Isn't it cool how bubbles tend to inflate the most just before they pop?
+1 ORI
Regards.
Thanks bulllchit.
Regards in return and warm ones if you are in the snow-belt.
ORI
The same media was bullish when China was in green for first 3 hours and was reporting that rate hike is good for the markets but after Korea news, China turned red and entire media twisted around by saying "stocks in red because of China hike"
So sudden of all, the same topic of rates hike turned from bullish to bearish??
David 99, Thank you. Good observation.
Babylon is falling... The whore that sitteth upon the waters.....
Babylon sisters, shake it! So fine, so young..."tell me I'm the only one...
I love that song....
you called?
Like 1939. Bear Mkts usually start at a peak or 'buying frenzy'. A Dow Div Yld of 2.77% looks more like a Top than a Bottom.
http://www.fiendbear.com/bear1939.htm
I would think that the prop trading firms just adore flash-crashes.
So much opportunity so quickly.
We have some algos that monitor order flow on the STOXX 50.
You can see that they read all of the program trading during the flash crash here:
http://algofutures.com/wow-indices/wow-index-euro-stoxx-50/day-trading-chart/
I'm still back in the 1930 peak, after all, the Bernank knows everything about how to avoid another Depression. - Ned
....absolutely....he actually wrote a thesis on it...who better to kepp us from another....
VIX is up nearly 11% today, after a +6% performance on Friday.
It seems strange that the market is not weaker given the VIX action.
Two day POMO withdrawal. Does anyone have any method done?
Would that be the rhythm method?
Greenspan.. 'QE a Dangerous Game, Risky Strategy'.. he should know..lol
http://www.bloomberg.com/video/63579250/