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NYSE Problems Intensify - Open Conference Bridge Set Up
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Is this the count down to the moon shot or a spectacular (and supremely deadly) launch pad explosion we've all been expecting? I don't want too sound to gleeful but it's about time the cracks in the foundation were exposed for what they are.
I don't trust a market that exhibits the type of insanity demonstrated over the past 6 months. A decent correction will go a long way to bringing back the reluctant investor. If it can't withstand a correction, we're better off knowing now rather than later.
Good point. This market cannot stand a correction because the whole political economic system is built on sand and if we tear down the house (which we need to do) and find no foundation then all hell will break loose.
Keep it together with Band-aids, bubble gum and popcicle sticks then kick it on down the road for the next generation to deal with.
I believe the diagnosis of gangrene is the most apt analogy for our Republic.
The moment of recognition of what is under the bandages, at a broad social level, is nearly at hand.
Death. Amputation.
The only options. Keep the bandage on and surely die because the truth is so terrible to the status quo, all the while pretending everything is fine and peachy king. OR. Deal with the fact our body republic is mortifying, and if we don't cut out the rot the whole entity will die.
"Peachy-keen" Not dissing.
Amen.
These may be crash conditions folks...
http://www.jubileeprosperity.com/
one expects this to continue as long as reverse count down to dow 10,000 continues....
Where is the uptick rule when you need it?
Selling prohibited. I suppose they will have to void every sell side trade today and in coming weeks. Voiding seems to be the solution to all negative trades. Voiding manipulation in Fannie or Freddie to induce a squeeze however is NOT FAT FINGER..lol
Yes indeed. When prohibiting short sales no longer works just ban all sales period. After all, those evil sellers of stocks not only threaten markets, they threaten free enterprise itself....
http://www.youtube.com/watch?v=uDLQg8ZKBS8
"We're in the pipe five x five."
...unexpectedly...
Right.... because the NYSE wants all of the trades to move to alternative platforms at their own expense.
You guys are geniuses!
+1
The ony loser here is NYSE. These outages will not keep the market from going down if it wants to go down....there are still plenty of trades taking place on other exchanges. The highest volume days are typically down days. NYSE knows that a high volume down day is the worst possible time to experience an outage and they will do everything within their power to get back online quickly.
"11:07 am update: Reinstating A thru H has not cured random quote dissemination."
Is it random as in delayed mix or the HFT algos have gone postal?
Is there another Treasury auction tomorrow?
Due to an internet cable failure in a large part of the London area our Finotec platform/servers are down at the moment. We would like to apologize for the inconvenience and rest assured that we are doing all we can to restore the connection.
So wait, US and UK are having apoc events at the exact same time? Or are these two events linked somehow? I admit I'm pretty ignorant on the Finotec platform.
My my, ain't it just strange that those bad old Internet cables only mess things up on down days? I honestly can't remember the last time we had something like this during an up day.
If it walks, talks and quacks........well, you get the picture. The wood pile stinks and that means there's a skunk somewhere, even it's just high volume that's to blame. Please don't stand in front of an exit for the next few weeks if you value your skin.
Al Qaeda finally hits home where we live...
http://www.jubileeprosperity.com/
This trading stuff just doesn't get any more interesting.
The NYSE tried to get too cute ....
When ARCA came in...the NYSE tried to hold on to more margin than ie the BATS model....
The BATS technology is proven....more efficient...
and can be located anywhere....
That's correct....the NEW EXCHANGE is SOFTWARE....
.........................
Furthermore it behooves the SEC to DEFRAGMENT the exchanges
in the name of ease in ELECTRONIC REGULATION....
.......................
In addition...the exchanges need to be revamped in the sense that there should be no dark pools or outside matching of any kind....
That's right all out in the open....ONE EXCHANGE....
And RETAIL....not non-retail "house" oriented....
It should not cost more than 20 cents per hundred units for any account type...or any securities type....
Short sales are easy....first come first served....no uptick rule....Shorts are only allowed to number of shares outstanding via electronic tag....And there should be size limits for large accounts which is self explanatory....
ie the new short feature would not aloowed for naked shorts run wild ....
And to top it off....guess what....wiki based factual securities information.....not pundit juiced....
THIS is the future....
i am on the call. there seems to be panic in their voices. not good.
what are the odds that the if downdraft picks up speed and system remains fucked they halt trading to allow "orderly" reboot?
5:2. How much are you good for?
LOL Miles!!
That's what happens when you try to manipulate the data with false readings and no backtesting.
Or could it be they simply need to offload some 7 year treasuries and re-confirm Bernanke?
ORLY
Can anybody just talk on that conference?
Can anybody just talk on that conference?
Good thing Bernanke and Geithner are also wizards at network restoration and market clearing software patching. Because without those two....(all together now): There would be potentially catastrophic consequences!
Plus they look so good together in a Geek Squad VW.
As apposed to catastrophic consequences ?
Someone please give opinion on the following:
I am considering putting a substantial portion of my IRA into physical precious metals. Would this help protect it from gov't forcing Treasury purchases with retirement accounts? Could the gov't force me to sell the metals and invest in govvies? I guess the answer is that the gov't can do almost anything, but what is the likelihood of this, and would I gain any protection?
That's the genius behind IRA's, they force you to disclose the holdings to the gov't, thus you can be forced to surrender like in the 30's.
The 1930's confiscation essentially drove gold out of sight. There were no real "raids" - you just had to go to the black market and take a haircut if you wanted to convert your gold into something else like food, FRNs, a house, etc.
Get physical gold and silver, find a safe hole that only you know about (not in your backyard!), and won't forget, and stash it there until we are through with this turbulence - which could be years.
I'm not so worried about confiscation as I am being forced to convert to Treasury holdings, which I consider to be more likely and perhaps more imminent. Would this offer any protection?
Anon,
Would this not be the exact same thing?.
When your money is moved into anything you did not choose,it's confiscation.
Also, what happens when the devaluation takes place, you have NO out.......
I wouldn't bother unless you take physical possession of the precious metals. You'll pay a hefty penalty, but it's better than having some stranger tell you your gold is as good as the paper it's written on.
I have a low six figure annuity I am trapped in (my place of employ puts money in it on my behalf, I have never paid into it). I can only get the funds (minus taxes and penalties) doled out to me over a 10 year time period, IF I lose my job. If I could, I'd get the money out NOW, even under those conditions. Now, what would I do next? You bet some of it would go into PM's that I had in my possession (not gold shares, not an ETF, IN MY POSESSION). I would keep some of it in cash.
You need to know I am not as expert as most people commenting. I did avoid the 40% haircut everyone took, I am debt free, have some PMs, a little cash, and this trapped money. I have decent common sense, but outside the PMs no appetite for risk.
I look at the PMs as a protest to the gov/financial system. I look at them as something that will stay stable in value over the long run. If my annuity is "destroyed/seized/devalued through inflation" as I am fairly certain it will be, gold is a very reasonable hedge.
Good luck.
whats the Bof A and British air ways is fucked comment about?
How about inducing artificial jitteriness prior to the Bernanke vote?
Chinese hackers!
CIA!!!
MsCreant-
Can you comment on #209292 above?
Flying spaghetti monster!
Thou shalt not insult his noodly appendage! Beware his saucey wrath!
dur opps, dp...
Black Helicopters!
leading voice in conf.call says "all clear"...
Maybe they did a count and can't get to 60 on BB?
12:16 It's fixed. Stocks moving back up.
leading voice in conf.call says "all clear"...
Started listening few minutes ago, seems like not much is going just a lot of beeping sounds probably servers rebooting.
some chick is saying "hello, hello" only to be answered by beep-bleep-beep. Hilarious.
I put in a call to Best Buy Geek Squad, they fixed it over the phone:
MOVE ALONG! NOTHING TO SEE HERE!
Somewhere, Leo is buying the dips.
Has anyone done any work on correlating "outages" on exchanges to down days? It really seems that outages on exchanges (not just in the US) are happening on days when the markets are trending down, which seems suspicious given the ratio of up days to down days. Hmmmm...