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Internal Email Indicates Exchange Outage Is Affecting Order Flow As Selling Intensifies, ES Upchannel Broken
And you thought we were joking when we said the various exchanges will start breaking when the selling volume intensifies.
From an internal email:
"One of the exchanges to which we submit order flow is experiencing a system outage affecting some Listed and OTC orders"
Awaiting official information from the NYSE if it is in fact the impacted exchange.
The S&P futures up channel has now been broken
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The exchange literally collapsed over a quarter percent decline?
Frightening!
Buy...buy....buy....stocks will go no where but up, up, up baby. Squeeky squeeky. Honky honk honk. Weeeeeee!!!!!!
Funny thing is that the upward chanel for the S&P has been broken before and it didn't trigger anything but more movement upward in the channel.
Does Goldman/Chase/etc. control penny stocks too?
PPT's at work any which way they can but they'll likely run out of fingers to jam in that Dike!
I just love how it's always when it's *down*...
It is not down, Goldman has just hosed up all the bandwidth.
Rampant criminality.
Looks to be topping. Failed upward thrust after failed upward thrust. Sounds like a bad porno movie.
Or is that an oxymoron?
Funny how the computer glitch happens right around the same time as the North Korean torpedo hit that ship. Maybe more than a coincidence?? Not allowed to go down, throw a piece of lumber into the gears to stop it!!!
Shades of the scene in "The Hudsucker Proxy" where the gears of the clock are jammed, causing time to stop.
http://www.imdb.com/title/tt0110074/
Funny how the computer glitch happens right around the same time as the Ambac thingy was declared to be a bankruptcy event. Maybe more than a coincidence?? Not allowed to go down, throw a piece of lumber into the gears to stop it!!!
Why don't they just tell everyone the big "Ponzi" is rigged?
Where are you Bernie?
This is what happens when the JPM & GS algo's aren't plugged in: reality/volatility!
ALL CLEAR, ALL CLEAR!! Everyone back in the pool! Where's my rubber ducky??
Why does it only break when it goes down even a teeny tiny bit....
I really don't think the theater is on fire... that smoke is probably just some burnt popcorn. Nothing to worry about...
I guess they didn't get all the shorts. Damn speculators how dare they try to add some equilibrium to this market.
No selling, only buying allowed. heh
So how do we tell the manipulation and the gob-smacking incompitence apart?
This a major problem with stocks, small investors don't have much hope of getting out when it all crashes.
The phucking algos must be plugged in again...ES back to being Slap-Chopped. Is Vince sitting at the trading desk?
ES at 1162 ... it sure doesn't stay broken for very long
Course not, they were just luring some more shorters in, while preventing any sellers, so the sellers see it going back up again and change their minds and then the squeeze is put on the shorts again cos they dare NOT be short overnight!
Tyler, I'm looking at your chart, and it seems premature for someone to declare the upchannel is broken. Mind you, I'm in SDS and RWM, but the third week of Feb has a holding pattern in it in which the downspike in the S&P touched support. Perhaps the upchannel is "tilting" to a lower slope. I guess we'll all see. Frankly, I hope you're right. I'm betting on the series of hammer blows downward since the 19th (okay, smacks with a ball peen hammer) will have at least a similar effect as the earlier period mentioned.
So any sort of volume, especially sells and the exchanges can't cope??
It appears that all of the computers pluged into the exchange that get orders before the market do not have enought Bandwith to transfeer thoes orders to the Market. Or the Computers that get first option on the trades get confused. Like OMG someone is Selling what do I do now. I can only Buy.
This is why I only play with FX.
This is not news. I work for one of the exchanges and we are still routing orders to all of the other exchanges as normal. I have no idea which exchange this post is referring to. It could be that one FIX connection is down affecting a few customers. If it was a severe problem, the other exchanges would declare “self help” and no longer route orders to that exchange and we haven't done that all day with any other exchange. I love Zero Hedge...it's by far my favorite finance blog...but these "market is down, time for an exchange to experience technical problems" stories are getting old. All except the smallest of financial firms have connections to all of the major exchanges and they can route order flow to another exchange very easily. Any exchange would be shooting themselves in the foot if they start experiencing technical failures whenever the market down. Down market = high volume = more money for the exchanges. We make sure that our peak capacity is much higher than anything we’ve experienced so far. Our most profitable days were unsurprisingly on some of the worst market days. If we were to have any problems, we would much prefer that it happen on an up down than a down day.
blasphemer
Someone just ran "Windows Update" on the servers...
I've noticed that either our quote servers here at the trading floor I'm at or "NASDAQ will declare self-help against NYSE" or some other tech fuckup happens all the time when volume spikes, i.e. real selling. What happens when it's sustained? Where will be all the touted liquidity? Bring back the damned specialists already. I'd rather get ripped off by one dude on the floor of the NYSE than by Skynet and his C-3PO pansy underlings.
You may have a point there Curbyourrisk, I didn't even know that they where going into bankruptcy today. Since they are a BOND INSURER, it makes sense for the PPT and others to play games and stop any momentum. But wait until Monday comes around, because this is another insurer of bonds who doesn't have the money to cover the bonds in case of default by the seller. Also on CNBC (I will post a link), "The regulatory seizure of toxic guarantees Ambac Financial Group sold through its insurance unit may trigger default provisions in Ambac Financial's bonds, which could potentially accelerate debt payments and send the company into bankruptcy, analysts said. Regulators in Wisconsin said on Thursday they were taking control of roughly $64 billion of the worst assets of Ambac Assurance Corp in a move that will preserve cash for municipal and other policy holders, while avoiding making full payments on the toxic portfolio. For details, see. Ambac said that it does not believe the action, in which regulators created a segregated account for the bad assets, constituted an event of default under its bond indentures. Analysts at JPMorgan, however, differed in opinion. Terms in Ambac's bonds state that the takeover of a substantial part of Ambac or a subsidiary would constitute a default. The definition of "substantial" could come under dispute, JPMorgan analysts said in a note on Friday. However, "our nonlegal take is yes, which means Ambac's bondholders could accelerate or force the company into bankruptcy." Bonds often contain provisions that allow creditors to demand immediate and full payment on the debt upon specified events of default.".
In other words the outage was an attempt to stop any selling or panic from a run on bondholders demanding payment of bonds and other debt instruments. They sure kept this secret during the day didn't they. And things are supposed to be better.
http://www.cnbc.com/id/36056168/for/cnbc/
I am so dissapointed with the Indian FX market....this is the biggest Money Making opportunity of our lifetime....and .
1.We dont have cross pairs like USD/EUR or USD/JPY.
2.And majorly;we DONT HAVE ANY LEVERAGE....sucks..
Anyone actually having a problem entering orders? Didnt think so, this site is becoming 50%conspiracy theory. Just like the bad info in the story about block orders maniputlating the market vs the VWAP.
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