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NYSE Invokes Rule 48 For This Morning's Opening, Anticipates Unprecedented Volatility
Here we go:

A refresh on Rule 48:
Rule 48 provides the Exchange with the ability
to suspend the requirement to disseminate price indications and obtain
Floor Official approval prior to the opening when extremely high
market-wide volatility could cause Floor-wide delays in opening of
securities on the Exchange.Rule 48 is intended to be invoked only in those situations where
the potential for extreme market volatility would likely impair
Floor-wide operations at the Exchange by impeding the fair and orderly
opening of securities. Accordingly, the rule sets forth a number of
factors to be considered before declaring such a condition, including:
- Volatility during the previous day’s trading session;
- Trading in foreign markets before the open;
- Substantial activity in the futures market before the open;
- The volume of pre-opening indications of interest;
- Evidence of pre-opening significant order imbalances across the market;
- Government announcements;
- News and corporate events; and,
- Any such other market conditions that could impact Floor-wide trading conditions.
If even the NYSE is saying to expect record stock volatility, run for cover now.
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- let the games begin.
Cool. Bun fights for all. Bagels, croissants, muffins, doughnuts, dinner rolls; choose your weapon.
So will they cancel these upside trades as quickly as they cancelled the downside trades? Nope. The world is correct when stocks go up, regardless of the reason for the upward movement. Just like violence always flows downhill, money always flows uphill.
NO. Because Goldman Sachs wants to go for another shutout.
jpy pairs turned down and E/J now at the open, if they keep going we will have another red day in stocks
Is that the same as Rule 34 with the average investor and a squid?
lol, glad to see I wasn't the only one who thought of rule 34.
It holds true.
There's plenty of examples of the market fucking people all over the internet.
Monitors off
/ES is moving 5 handles in either direction every few minutes, EURUSD back to following it nicely.
Warp 7, Warp 8!!! WARP 9!!!!!!!! -Sulu
"...Captain, she can't handle much more!!!..." -Scotty
"Luke, you've switched off your computer terminal, you can't even see the stock prices. What's wrong?"
"Nothing."
"Use the FORCE Luke!"
OMG! No honor among thieves?
"When stock prices are breaking from rally highs, the exchange often exibits a certain mechanical clumsiness. Either its Specialists drop prices sharply at the opening, announce a delayed opening or a halt in trading, or there is a late tape.
Oftentimes, with pagan innocence, the Exchange will announce a breakdown in its equipment, after which prices are discovered to be markedly lower."
Richard Ney, "Making it in the Market," 1975
Translation: If you have a sell or short order it may not be processed until we feel like it.
This sums it up nicely.
Constitution, law, rules... nobody follows them anymore.
Rule 48: we had a rule but it won't work, so fuck it.
not obeying the man made rules is quite common. when stuff stops obeying laws of nature, thats when you know its time to run.
Short squeeze...then what??
takes a big pair to short this. Its sitting at the 50dma.. no mans land.
When does this finally blow up? This is crazy!
gold and silver sells will be exempt and executed in a heartbeat however.
note the action in silver this morning. clearly we can see who runs the government -- JPM is under criminal investigation for long time manipulation of the COMEX silver market.....
and, is silver going up as this massive manipulation is exposed?
NOPE. Guess we know what kind of teeth a criminal investigation has when it comes to JPM. Nothing to see here, move along, move along, peasant.
Clearly, the Erroneous Ruling Policy should be effective today. From space, it looks like the same HFTs at work today as on 5/6 and over the past few years.
Same chit - different direction
That was the rally folks! Up 400 in 15 Minutes . Now back down.? The Eu will lead us out of Recession.. lol Take the Lead Euro , Greece, Portgual, lmao.
BWAAAAAAAAA. Hilarious ... where do they come up with this stuff? Funnier than Goldman traders not having lost any money on any day this year.
This should be a SNL skit.
"If you are a retail investor/trader you will only make money if we say you can."
CNBC just now:
"well we had an AMAZIIIIIIIIIING opening in the futures premarket, but currently theyre not doing anything. BUT! Thats good news!!1!111111one"
This was a "healthy correction" of oversold conditions. Now let the bear market resume...
Not to be negative or anything but if this rally fails today the market is totally screwed for 2 months at least.
I doubt it fails. The insiders who knew about this on Friday, need to hold up the market for a while to unload their merch.
I've uploaded a DOW chart.
http://www.zerohedge.com/forum/latest-market-outlook-0
http://stockmarket618.wordpress.com