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NYSE Invokes Rule 48

Tyler Durden's picture


That's odd: usually these invocations are reserved for when futures are down 50 points or so. It appears the NYSE, unlike virtually all other venues, actually does need a human presence to operate.


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Wed, 01/12/2011 - 10:23 | Link to Comment MarketTruth
MarketTruth's picture

Volatility bitches!

Market manipulation is now 'priced in' and someone's 'fat finger' overshot.

Wed, 01/12/2011 - 10:24 | Link to Comment Dr. Engali
Dr. Engali's picture

Please. There is no such thing as volatilty any more.

Wed, 01/12/2011 - 11:06 | Link to Comment I Am The Unknow...
I Am The Unknown Comic's picture

yeah well you just wait until Sam and Mr. Frodo throw the VXX ring into the fires of Mordor and then you'll see that volatility isn't really dead you cynic!

Wed, 01/12/2011 - 11:56 | Link to Comment Dr. Engali
Dr. Engali's picture

Hey I didn't say I liked it. I wish there was some volatility,and the fed fucks would get out of the market. But for now they aren't going to allow it. 

Wed, 01/12/2011 - 12:35 | Link to Comment espirit
espirit's picture

...Late add.

They held up the grain future reports this am as they shot up, S.O.B.'s

Wed, 01/12/2011 - 10:24 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Snow storm bitches!

At least that will be the cover story.

Wed, 01/12/2011 - 10:48 | Link to Comment Michael Victory
Michael Victory's picture

From Wikiworld:
Rule 48 halts the requirement for market makers to send pre-opening indications, or bid and ask prices created in auctions used to determine a stock’s opening price.

The regulation has been used in the past when the potential for extremely high market-wide volatility exists.

Believe it.


Wed, 01/12/2011 - 10:49 | Link to Comment snowball777
snowball777's picture

Snow, as in...the verb.

Wed, 01/12/2011 - 10:54 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

As've been snowed?

Wed, 01/12/2011 - 10:58 | Link to Comment Zeno of Citium
Zeno of Citium's picture

Yeah, snow you !

Wed, 01/12/2011 - 11:28 | Link to Comment RockyRacoon
RockyRacoon's picture

That really frosts my ass.

Wed, 01/12/2011 - 11:35 | Link to Comment asteroids
asteroids's picture

That means that the exchanges are turning a blind eye to what Market Maker shennanigans. First yesterdays SPX dump and today this. I got a bad feeling about this.

Wed, 01/12/2011 - 10:25 | Link to Comment EscapeKey
EscapeKey's picture

Any idea what this might be related to?

I see the Euro, Pound Sterling, AUD AND the USD are all surging, which must mean the Yen is taking quite the beating?

Wed, 01/12/2011 - 10:27 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Uh oh!

Major date in history (12 Jan) as it turns out.


1991 – Gulf War: An act of the U.S. Congress authorizes the use of military force to drive Iraq out of Kuwait.

2005 – Deep Impact launches from Cape Canaveral on a Delta 2 rocket.

What do they know?

Big Wall Street Arrests to be announced today?

Smell something big!


Wed, 01/12/2011 - 10:34 | Link to Comment Ras Bongo
Ras Bongo's picture

U Forgot to mention Haiti 2010 earthquake

Wed, 01/12/2011 - 10:48 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Funny Ras, I kept trying to edit to add that and got Access denied. 

Yes, key one there. Back in history, many other major events.

Interesting times indeed.


Wed, 01/12/2011 - 11:52 | Link to Comment GoinFawr
GoinFawr's picture

I don't wanna seem persnickety, but with only 365.25 days in a year, thousands of years of recorded history, billions and billions of people... it seems to me that it would be tougher to find a day of the year where some event of note didn't happen.

Not dissing astrology or astrologers or astrologists; just sayin'

Wed, 01/12/2011 - 12:01 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Goin, actually you'll be pretty surprised, if you dug in, like I have, into dates, that it is hardly a normal distribution. Not at all.

Since all major events are instigated (human or celestial), I imagine the instigators will be the most disruptive at their most powerful alignment, especially with each other, if you get my drift. Good or bad.

The belief in one excludes the other (your hypothesis and the truth of astrology).

just saying. Nice avaatar by the way and enjoy your comments (mostly!).


Wed, 01/12/2011 - 12:11 | Link to Comment GoinFawr
GoinFawr's picture

fair enough ORI

Thanks, and right back atcha.

Wed, 01/12/2011 - 10:39 | Link to Comment bonderøven-farm ass
bonderøven-farm ass's picture

The earth-shaker in Haiti, 2010......

*meh*  another day at the races.....

Wed, 01/12/2011 - 10:29 | Link to Comment Mike2756
Mike2756's picture

Must be a buying stampede.

Wed, 01/12/2011 - 10:36 | Link to Comment virgilcaine
virgilcaine's picture

Flash crash time.

Wed, 01/12/2011 - 10:37 | Link to Comment Cleanclog
Cleanclog's picture

Fear that China will really rule the world - they are the Portuguese bond saviors with some other foreign I interest (yea, Ben and Tim and Sack may be there - but what if the other saviors are Singapore, Japan, and Brunei - - - what if they are also Mongolia, Khazhakstan, and Indonesia?) /sarc off.

Wed, 01/12/2011 - 10:40 | Link to Comment StockInsanity
StockInsanity's picture

Maybe Julian Assange is coming out with his little black book today !

Wed, 01/12/2011 - 10:40 | Link to Comment SheepDog-One
SheepDog-One's picture

Hey anything to lock in another 1% on the DOW for no reason.

Wed, 01/12/2011 - 10:55 | Link to Comment alter ego
alter ego's picture

Don't worry about China taking over, or even the Bilderbergs plan of NWO.

Peak Oil is here, and there is no time for another super power to take over the world.

"You can't have more more money than energy you have to back it up"

It's just that simple, Money = Debt, economic growth , population growth, etc etc is thight to Oil.

Energy is what makes this world tick, and we are just to confornt the energy shock in which no country, governments, companies, etc, etc is prepare to confront.

This volatility in the markets is just a symptom of something mayor building up.



Wed, 01/12/2011 - 11:09 | Link to Comment virgilcaine
virgilcaine's picture

I think bonds could take a hit here.. possibly back to 4 % on the Ten Yr.  The only way stocks go down is for credit to dry up. Looking at some Eu bonds they were trading nicely at 3.5%  and then  they weren't.. going to 6-7 % in a few months.

Wed, 01/12/2011 - 11:16 | Link to Comment Zeroexperience2010
Zeroexperience2010's picture

Today Sprott PSLV is expecting/hoping for delivery of 1.3 millions ounces of silver. Any news about this? NAV is around 14-15% currently...

Wed, 01/12/2011 - 11:35 | Link to Comment plocequ1
plocequ1's picture

Well, Not only did i wake up to a winter wonderland  here on L.I. NY, But the market is up big. Can some explain why? I just finished shoveling masive snow and im tired.

Wed, 01/12/2011 - 18:58 | Link to Comment StychoKiller
StychoKiller's picture

Here in Minnesota, we have these nifty inventions, called snow-throwers!  Mine's been getting quite a workout this year. :(

Wed, 01/12/2011 - 11:41 | Link to Comment stormsailor
stormsailor's picture

the market is up 8.75 on the /es because of the strong vibrant economy, the huge increases in employment and wages,  and the overwhelming support and approval of all citizens in our governments handling of all our functions.


the ministry of truth

Wed, 01/12/2011 - 12:02 | Link to Comment JimmyTheHand
JimmyTheHand's picture


Now that's funny!  Ministry of Truth.. ahhahahahah

Wed, 01/12/2011 - 18:59 | Link to Comment StychoKiller
StychoKiller's picture

Watch yourself there, comrade (or should I say potential thought-criminal??) :>D

Wed, 01/12/2011 - 12:17 | Link to Comment dcb
dcb's picture

chart out the damn speed lines, thats what the computer algos use. s and p 1286.32

Wed, 01/12/2011 - 12:29 | Link to Comment Jessica6
Jessica6's picture

New POMO schedule out today?

The next release of the approximate purchase amount and tentative outright Treasury operation schedule will be at 2 p.m. on January 12, 2011

Just a wild stab in the dark, really.

Wed, 01/12/2011 - 12:56 | Link to Comment BearOfNH
BearOfNH's picture

Forgery? Maybe a hacker test for later?

I don't see anything about this on the NYSE homepage, 3 hours after it was sent.

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